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2024-11-30-accounts

THE ABBEYFIELD RUTHERGLEN SOCIETY LIMITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 FCA REFERENCE NUMBER - 2000RS SCOTTISH CHARITY NUMBER SC016559

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE Executive Committee Re ort Year Ended 30 November 2024 The trustees who are also the Executive Committee of the charity for the purposes of the C( operative and Community Benefit Societies Act 2014 present their forty first annual report with the accounts of the Society for the year ended 30 November 2024. The Executive Committe8 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practio applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablè in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND AIMS The objectives of the Society are to carry on, for the benefit of the community, public benefit, the provision and management for the relief and care of elderly persons of all classes suffering from the disabilities of old age or otherwise being in need of housing for letting. In furtherance of this object but not otherwise the Society may., Provide land or buildings for purposes connected wilh the requirements of the elderly persons occupying the houses or hostels provided or managed by the Society., and Provide amen¢ties or services for the benefit of such persons either ex¢lusively or together with other persons. nificant activit To fulfil the object of the charity the Society provides accommodation and ¢are for the elderly. ACHIEVEMENT AND PERFORMANCE Charitable activities At 30 November 2024 one Very Sheltered House had accommodation for 11 elderly persons {2023,' 1 house- 11 persons) and the Registered Residential Care House had accommodation for 29 frail elderly persons (2023 30). The Society strives to maintain its residential and nursing units to provide a high standard of service and to ensure Complian￿ with the stringent standards as set by legislation and by the regulatory bodies. Our Very Sheltered House, Mcmillan. currently has a tolal of four residents occupying the rooms. The administration section occupies four of the vacant rooms. Our Registered Residential Care Houses continue to seNe the needs of the Society. Residents can either register for residential care or nursing Care dependent on Iheir needs. We are happy with the current occupancy levels and income from total residential charges being reported.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE Executive Committee Re ort Yèar Ended 30 November 2024 Cont'd FINANCIAL REVIEW Financial osition The financial resuits of the charity are as set OLrt in the attached accounts. The Statement of Financial Activities on page 12 details an increase from £1,311,305 to £1,366,248 for the year to 30 November 2024 {2023'. £25,928 increase) in income from charitable activities. Expenditure, increased in the year with the resultant net income before gainslllosses) on investment assets but allowing for donations and investment income decreasing to (£253,642) from £79,302 in 2023. Donations, grants and legacies received during the year are as follows= C Smith E Smillie Total £ 800 £ 100 £ 900 To all who gave generously we convey our grateful thanks. See below re commentary on our investment assets. Princi al fundin sources Payments by residents and by Local Authorities for the accommodation and care provided represent the Society's principal funding streams. Monies are also received from investment income and voluntary donations. Investment olic and erformance The Executive Committee have the power to invest in such assets as they see fit, by their decision they gave discretionary power to Rathbones. to invest in investments with a view to capital growth and income realisation. The Executive Committee are satisfied with the rate of return as achieved in th8 year. £19,747 investment income reported on page 12 (£7,158 in 2023).

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE Executive Committee Re ort Year Ended 30 November 2024 Cont'd The improvement in market conditions as at 30 November 2024 and in the year thereto resulting in investment gains of £30,004 {2023.' losses £5,185). Reserves oli¢ The reserve lev81 is Gonsidered annually by the Executive Committee. The Executive Committee consider a free reserve level equivalent to 3 months running costs to be adequate for the purposes of the Society. For financial year 2024, this equates to approximately £412,000. At the year-end date, the Society had total reseNes of £2,344,364 12023.. £2,568,002}, of which £1,030,686 (2023.. £1,242,538) were held as general unrestricted funds. Given the restructure planned for the Society in financial year 2025 (see future plans for more information), this is deemed by the Executive Committee to be sufficient to ensure the Society is able to continue to meet its charitable objectives. Goin concern In their assessment of going concem the Executive Committee have considered the Society is in a strong financial position and believe the going concem basis of accounting appropriate in preparing the financial statements. The financial year to 30 November 2024 saw a defiGil of £253,642, before taking into account gains on investments. Vvhile the reserves are in a strong position, the Executive Committee have decided to reslructure the Society in financial year 2025 (see future plans for morè information). The reserves held at the year-end will allow the Society to restructure and to continue to dèliver its charitable activities for the foreseeable future. The Society has sufficient funds to cover the cost of the ￿strUctUre and as a result, there are no material uncertaintl8s about the charity's ability to continue as a going concern. FUTURE PLANS The Executive Committee will continue to ensure that the Society continues to fulfil the principal objèctive and provide care at the highest level ensuring compliance with the stringent standards set by legislation and the regulatory bodies. During the financial year the Executive Committee decided that in the best interest of the Society, in the financial year 2025 the Society would restructur8. The decision was made to close both Templeton House and Mcmillan House and operate only within Extra Care. Th8 Executive Committee are looking to sell part of the land in which the Society operates due to the closure of two houses as part of the restructuring. STRUCTURE GOVERNANCE AND MANAGEMENT Governin document The Society is registered under the Coryoperative and Community Benefit Societies Act 2014 and is a registered with the Financial Conduct Authority, being listed on the Mutuals Public Register. The Society is also a charity registered with the Office of the Scottish Charity Regulator (OSCRI.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE Executive Committee Re rt Year Ended 30 November 2024 Conl'd Decision Makin ando anisational Structure The ultimate responsibility for the Society lies with the Executive Committee which is responsible for the overall strategy of the Society. Each house has a house commitlee that is responsible to the Executive Committee for the provision of care and companionshiF to the residents and for ensuring that the Abbeyfield Standards are met. Each house comrnittee has a chairman who reports to the ExecLrtive Committee on the running of their house. The Executive Committee having delegated the day-to-day finanee function lo the Administrator, Related art￿8 The Society is a member of the national charity The Abbeyfield Society which is an incorporated charity registered in England with the Charity Commission. The So¢iety 18 supported and promoted by the national Charity lo include the provision of led)nical, operational and administrative advice. Board Membars Members of the Executive Committee in the year under review and to dale of this reFQrt are detailed below. The duties ol the Society Secretary and Treasurer are being undertaker It is normalthateaGhyearthree members oflhe Executive Com members due lo retire by rotation are All offer themselves for re-election. Recruitment a ointment and induction of new Executive Committee Members Executive Commirte2 Members are recrurted to the Board where a skills gap has been identified or where it considered the number of members ofthe Executive Committee requires lo be augmented. New appointments are made on p&rsonal recommendations of the Executive Committee, and their appointment will be confirmed at the next Annual &neral Meeting. New Executive Committee Members are invited lo attend Executive Committee meetings to larniliarise themselve5 With the charity and the context within which it operates. Information will be given as to objectives, resourcing and the current financial position and future plans. mana ement The Executive Comrnittee is the Society's key management. These personnel are in charge of directing, controlling and operating the Society. Acting on a voluntary basis these persons re￿1ve no remuneration.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE Executive Committèe Re ort Year Ended 30 November 2024 Cont'd Risk Assessment The Executive Committee of the Society have conducted their own review of both the major and minor risks to which the Society is exposed and where necessary plans have been put in place to manage and mitigale these risks. Risk assessment has become an ongoing programme during which these plans will be periodically reviewed for the types of risk identified to ensure that they still meet the needs of the Society. The main features of the internal financial control syst8ms are.. financial regulations which delineate responsibilities and authority- annual budgets., budgetary control arrangements with a monthly reporting cycle., Executive approval of the parameters under which any new investment in properties is entered into.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE Executlve Committee Re ort Year Ended 30 November 2024 Confd REFERENCE AND ADMINISTRATIVE DEfAILS EXECUTIVE COMMITTEE ADMINISTRATOR BANKERS Bank of Scotland 82 Main Street Rutherglen, Glasgow G73 2HZ AUDITORS Anderson Anderson & Brown Audit LLP, Statutory Auditors, Chartered Ac¢ountant8 133 Finnieston Street Glasgow G3 8H8 SOLICITORS Pelerkins Robert80n Paul Solicitors 227 Sauchiehall Street Glasgow G2 3EX ARCHITECTS ICDP Moorpaik House 11 Orton Pla Glasgow G512HF REGISTERED OFFICE 78 Stonelaw Drive Rulhergien Glasgow G73 3NZ CHARITY NUMBER SC016559

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE Executlve Comrnitt8e Re rt Year Ended 30 November 2024 Convd Statement of Res onsibilities of the Ex8¢utive Committee The Executive Gommittee are responsible for p￿paring the Executive Committee Report and the accounts in accordance with applicable law and United Kingdom Accounting Staidards (United Kingdom Generally AC￿pted Accounting Practice), including Financial Reportiro Standard 1Q2 "The Financial Reporting Standard applicable in the UK and RepLblic of Ireland" Legislation requires the Executive Committee to prepare accounts for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In p￿parIng those financial statements. the Executive Committee are required lo select suitable accounting policies and then apply them congislently., observe the methods and principles in the Charity SORP., make judgements snd estimates that are reasonable and prudent,. prepare the financial statements on the going cOn￿rn basis unless it is inappropriate to presume that the charity will continue in business. The Executive Committee are respon8ible for keeping proper a¢¢ounting records which disclose wtth reasonable accuracy at any lime the financial position c>f the charity and to enable them to ensure that the accounts comply wilh relevant legislation. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 IDr the prevention and detection of fraud and other irregularities. Statement as to Disclosure of Infomiatlon to Audllors So far ag the Executive Committee is aware, there is no relevant audlt Infomation of which the Society's auditors are unaware, and each Member has taken all the sleps that he ought to have taken as an officer in order to make himself aware of any relevant audit infomiation and to establish that the SoGiely's auditors are aware of that Informaiion. Auditors The Audit has been carried out by the firm of Anderson Anderson & Brown Audit LLP, Chartered Accountants and Ih8y have intimated their willingness to be appointed for the forthcorning year. On behalf of the Executive Committee. 30 April 2025

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF ABBEYFIELD RUTHERGLEN SOCIETY Opinion We have audited the financial statements of Abbeyfield RLrth8rglen Society Limited for the year ended 30 November 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard appli¢able in Ihe UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 30 November 2024 and of its incoming resources and application of resources, including its income and expenditure for the year th8n ended.. have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotlandl Regulations 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UK}) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial stalements in the United Kingdom. including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We bélieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concem In auditing the financial statements, we have concluded that the Trustees, use of the going COn￿M basis of accounting in the preparation of the financial statem8nts is appropriate. Based on the work we have perfomed, we have not identrfied any matérial uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concem for a period of at least tsvelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concem are described in the relevant sections of this report.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF ABBEYFIELD RUTHERGLEN SOCIETY (Cont'd) Other inftimiatlon Tha other information comprises the information included in the annual report other than the financial statements and our auditors, report thereon. The Trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and, ex￿pt to the extent otherwise expliGilly stated in our report, we do not express any fomi of assuran￿ conclusion thereon. Our responsibility is lo read the other information and. in doing so, consider whether the other informalion is materially inconsistent with the financial statements, or our knowledge obtained in the cours8 of the audit, or othe￿iSe appears to be materially misstated. If we identify such material inconsistenGies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement ofthis other infomiation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 las amended) ￿qUireS us to report to you if, in our opinion: the information given in the Truslèes, report is inconsistent in any material respect with the financial statements., or proper accounting records have not been kept., or the financial statements are not in agreement with the accounting records and returns,. or we have not received all Ihe information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees detemiine is necessary to enable the preparation of financia5 statements that are free from material misstatement, whether due to fraud or error. In preparrng the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going GOn￿rn, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or hav6 no realistic alternative but to do so. Auditors. responslblllties for the audlt of the financial statements Our objectivès are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK} will afways detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 10 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF ABBEYFIELD RUTHERGLEN SOCIETY {Cont'd} Irregularities, including fraud, are instances of non-complian￿ with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed b&low= We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that havè a direct effect on the determination of material amounls and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, OSCR requirements and Care Inspectorate. We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be.. Management ove￿Ide of controls to manipulate the charity's perfomance. Timing and completeness of revenue recognition., Management judgement applied in calculating estimates and provisions., and Compliance wilh relevant laws and regulations which directly impact the financial statements and those that the charity needs to comply with for the purpose of trading. Our audit prO￿dureS to respond to these risks included- Testing of journal entries and other adjustments for appropriateness., Testing a sample of revenue transactions and associated recognition of revenue invoices spanning the year end to ensure appropriate., Evaluating the business rationale of significant transactions outside the nomal course of business., Reviewing judgements made by management in their calculation of accounting estimates for potential management bias., Enquiries of management about litigation and claims and inspection of relevant correspondence- Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations., Reviewing and sample of year end d8btor balances to ensure post year end re￿IPtS support debtor recoverability., Performing a disclosure checklist on the financial statements to ensurè Companies Act 2006 requirements are satisfied., Analytical proGedures to identify any unusual or unexpeded trends or relationship. and Reviewing minutes of meetings of those charged with governance to identify any matters indicating actual or potential fraud. Be¢ause of the inherent limitations of an audtt, Ihere is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance wilh regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in Ihe financial statements, as we will be16ss likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than e￿or, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF ABBEYFIELD RUTHERGLEN SOCIETY (Cont'd) A further description of our responsibilities for the audit of the financial statements is bcated on the Financial Reporting Council's websrte at= www.frc.oro.uklauditorsresponsibilities. This description fomis part of our auditors, report. Use of our report This report is made solely to the charity's members, a8 a body, in accordarKe with regulation 10 ol the Charitie8 Accounts (Scotland) Regulations 20D6. Our audit work has been undertaken so that we might stale to the charitls members those matters we are required to state to th&m in an auditors, report and for no other wrpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the Gharity, its members, as a body, and its trustees, a5 a body, for our audit work, for this report, orfor the opinions we have formed. for and on behalf of Anderson Anderson & Brown Audit LLP Statutory Auditors 133 Finnieston st￿et Glasgow G3 8HB Date.. Anderson Anderson & Brown Audit LLP are eligible to act as auditors in tem)s of sedion 1212 of the Companies Act 2W6.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 12 STATEMENT OF FINANCIAL ACTIVITIES ACCOUNT INCORPORATING THE INCOME AND EXPENDITURE Unrestrlcted 2024 2023 FOR THE YEAR ENDED 30 NOVEMBER 2024 Noteg INCOME FROM Donations and legacies 900 157579 Chari activities Registered Residential Care Houses Losses arising from vacancies Residential Charges outstsnding 313125 152291 5465 313361 224992 17671} 5258 222579 Nursing Care Losses arising from vacancies Nursing Charges outstanding 1070571 1969071 3875 977539 1063427 1386851 6891 1031633 Residential Charges receivable Very Sheltered Housing Losses arising from vacancies Residential Charges outstanding 123038 1476901 128975 171882} 75348 57093 Net income from char¢table a¢livrties Investment income 1366248 19747 1311305 7158 Sundry Income 7708 1158 1394603 1477200 TOTAL EXPENDITURE ON Cost of raising funds Investment Management costs Charitable activities 3000 45245 3000 139489 TOTAL 164824 1397898 NET INCOME BEFORE INVESTMENTS LOSSES GAINS ON 12536421 79302 Net gainlllosses} on Investments 15 5185 NET INCOME I NET MOVEMENT IN FUNDS (2236381 74117 REC NCILIATION OF FUNDS FUNDS BROUGHT FORWARD EXCL SHARE CAPITAL 2568002 2493885 FUNDS CARRIED FORWARD EXCL SHARE CAPITAL There were no recognised surpluses or deficits for the years ended 30 November 2024 or 2023 other than those shown above. None of the Society's activities were acquired or discontinued during the above financial years. The notes forn part of these Accounts.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 13 BALANCE SHEET AT 30 NOVEMBER 2024 NDt•s 2024 2023 TANGIBLE FIXED ASSETS Heritable Property 12 314897 335890 Horitablg Property Improvements 13 861789 733281 Furniture, Fitting5 & Equipment 14 282012 1258678 201293 1270464 INVESTMENTS 15 2659 TOTAL FIXED ASSETS 1524615 1509397 CURRENT ASSETS Stock Debt Cash in Bank and on hand 1133 56551 929349 987033 2749 141112 1061019 1204880 16 CREDITORS: Amounts falling duè within Dne year 17 167250 14D241 NETCURRENT ASSETS TOTAL NET ASSETS FINANCED BY,, Share Capf(al TOTAL FUNDS General Unrestricted fun¢Js Designated fund8'. Major repairs Tangibl? fi¥ed assets 18 1030686 550CK) 1258678 2344364 1242538 55000 1270464 2568002 19 The Accounts were approv8d and authorised for issue by thg Executive Committee on 30 Akyil 2025 and signed on their behalf by. The notes form part of these Accounts.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 14 CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2024 2024 2023 Coshflow Noles Cash flows from operatlng actlvltles: Cash generated from operations 474861 154519 Net cash provided by operatlng a¢tivities 47486 154519 Cash flows from invgsting actlvltles: Purchase of18ngible fixed assets Purchase of fixed asset investments Investment income Sale of fixed asset investments Movement in Share Capitsl {1069291 1719401 19747 71876 1712201 184281 7158 15660 Net cash used In Investing activities 872461 568301 Change in cash and cash equivalents In tho reporting period Cash and cash equivalents at the beglnnlng of the reporting period 1134732) 97689 1066569 968880 Cash and cash equlval8nts at the end oflhe reporting period 931837 1C66569

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 15 NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2024 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Incomellexpenditure) for the reportlng period las per the statement of flnanclal actlvltlesl 1223638) 74117 Adjustm•nts for: Depreciation charges Income from investing activities (GainsllLosses on fixed asset investments Loss on disposal of fixed assets Decreaselllncrease} in stocks Decreasel{Increase} in debtors IncreasellDe¢reasel in creditors 117154 {197471 (300021 1561 1616 84561 21009 110596 {71581 5184 9617 1831) {23168} 13838} Nel ¢ash provlded by operatlng attlvlties 474861 154519 CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING PERIOD 2024 2023 Cash at bank Cash with broker 929349 2488 1061019 5550 931837 1066569

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 16 S TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 ENEFIAL INFORMATION The Abbeyfield Rulherglen Society Limited is registered under the Co-operative and Community Benefit Societies Act 2014 {Reference Number 2000 RSI and is a registered ¢harity with the Office of the Scottish Charity Regulatof IOSCR} (Chanty Number SCO165591. The registered office address is 78 Stonelaw Drive, Rulherglen, Glasgow, G73 3NZ. ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The principal accounting policie5 adopted, judgements and key sources of eslimalion uncertainty in the preparation of the financial statements are as follows.. The accounts of the Society have been prepared in accordance with the Charities SORP {FRS 1021 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,, Financial Reporting Standard 102 ' The Financi81 Reporting Standard applicable in the UK and Republic of Ireland, and the Co-operative and Community Benefit Societies Act 2014. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, Abbeyfield Rulherglen Society meets the definition of a public benefit entity under FRS 102. GOING CONCERN In their assessment of going concern the Executive Committee have considered the Society is in a strong financial position and believe the going concern basis of accounting appropriate in Pfeparing the financial statements. The financial year to 30 November 2024 saw a deficit of £2S3,642, before taking into account gains ot) investments. Vvhile the reserves are in a strong position, the Executive Committee have decided to restwclure the Society in financial year 2025 (see future plans within Trustees Report for more information). The reserves held al the year*nd will allow the Society to reslruclure and to continue to deliver its charitsbte activities for the foreseeable future. The Society has sufficient funds lo cover the cost of the reslruclure and as a result, there are no material uncertainties about the charity's ability to Continue as a going concern. INCOME All incom8 is recognised in the Statement of Financial Activities once the Society ha$ enlillemenl lo the funds. it is probable that the income will be received and the amount can be measured reliably. EXPENDIT RE Costs relating to raising funds and charitable activities are charged to the Statement of Financial Activities on an accruals basis, inclusive of I￿eCoverable Value Added Tax. Expenditure is recognised when there is a legal or constructive obligation to Pay for expenditure. All costs have been directly attributed to one of the categories of resources expended in the Statement of Financial Activities. Costs are allocated to activities on a basis consistent with the use of resources. Raising funds expenditure arè costs attributable to the management of the Society's investments.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 17 NOTES T THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 (Cont'd) ACCOUNTING POLICIES (Cont'd) EXPENDITURE Icont'dl Charitable acl*vities costs comprise costs incurred in undertaking the deffned charitable objects, the provision and management for the relief and care of elderly persons, incurred directly in meets'ng the object of the Society and support ¢osts incurred in support ofthe directexpenditure. Governano costs, a category within Support ¢osts, are costs attributable to compliance with ststutory requirements. EMPLOYEE BENEFITS The Society operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Aclivib'es in the period to which they relate. The assets of the scheme are held in an independently administered fund. TAX The Society is exempt from Corporation tax on its charitable activities. DONATED ASSETS Assets donated lo the Society comprise additions which have no material value. These are not included in the Balance Sheet. DEPRECIATION." FURNITURE FirriNGS AND E UIPMENT All assets costing more than £500 are capitalised. Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their useful lives as follows.. Heritable Property 2Yo Straight line Heritable Property Improvements 5Yo straight line House Furniture and Furnishings 5V/o straight line Kitchen Equipment -10% slraighl line Garden and other Equipment -10Yo slraighl line Computer Equipment -200k straight line INVESTMENTS Fixed asset Investments Investments are initially recognised at their transaction value and subsequently measu￿￿ at their market value as al the balance sheet date using the closing quoted market value. The Statement of Financial Activities includes net gains and losses arising on revaluation and disposals throughout the year. Reallsed gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference betsveen sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference be￿een the fair value al the year end and their carying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. STOCKS No account has been taken of sto¢ks of food. cleaning materials, crockery, cutlery etc. other than the stock of food at the Registered Residential Care House which has been valued at lower of cost and net realisable value.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 18 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 (Cont'd) ACCOUNTING POLICIES (Cont'd) FINANCIAL INSTRUMENTS The Society only has financi81 a$sets and financial liabilities of a kind that qualfy as basic rinancial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value. DEBTORS Residential Charges outstanding.. Debtors are re¢ognised al the $ettlem8nt amount due. CASH AND CASH E UIVALENTS Cash and Cash Equivalents in hand includes cash and bank accounts all available on demand. CREDITOR Residential Charges in advance.. Deferre(l income, Other Creditors and Accruals are recognised where the Society has a present obligation resulting from a past event that will probably result in the transferoffunds to a third paty and the amount due to settle the obligation can be m8asured or estimated reliably. Creditors are recognised al their settlement amount. FUND ACCOUNTING Funds held by the charitable Society are either.. Unrestricted funds.. these are funds which can be used in accordance with the charitsble objects al the discretion of the Executive Committee. Designated lunds.. these ar8 unrestricted funds which have been earmarked al the discretion of the Executive Committee for a particular purpose. This designation has an adminislralive purpose only and does not18gally restrict the Executive Committee's discretion to appty the fvnd. DONATIONS AND LEGACIE 2024 2023 Unreslricled'.- Donations and legacies 900 157579 INVESTMENT INCOME 2024 2023 Dividends received Bank interest 5949 13798 5731 1427

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 19 NOTES TO THE ACGOUNTS F R THE YEAR ENDED 30 NOVEMBER 2024 (Conl'd) SUNDRY INCOME 2023 1158 Towergate Insurance 7708 CHARITABLE ACTIVITIES COSTS Direct Costs (See noto 71 Support costs Ise¢ noto 8) Total$ Residential care Nur&ng care Sheltered housing 342577 1130695 g6649 14670 45303 15351 357247 1175998 2023..

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ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 22 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 (Cont'd) STAFF COSTS 2024 2023 ADMINISTRATION Salaries Social Security eo$ls Other Pension Costs 27392 2461 2245 26375 2308 215 DIRECT STAFF Salaries and Wages Agency Staff Social Security eosts Other Pension Costs Group Lrfe Insurance Scheme Council Tax 967009 879329 8197 16080 67738 59257 23052 20309 2460 1645 1306 ￿57 AVERAGE M Full Time Part Time NT Y NUMBER OF PER EMPLOYED umber Numb 15 13 39 39 Full lime equivalent employees 27 26 One stsff member is responsible for the Administration of the Society. All other staff are involved in the delivery of the charitable purposes. There are no employees receiving emoluments in eX￿sS of £60,00012023'. NONE). The charity contributes to a defined contribution scheme on behalf of its employees. The contributions amounted to £25,297 12023.. £22,464). At the year-end £31 ¢onlribulions were still be collected by the pension scheme providers12023'. £138). These Sums are included within Other Creditors. 10. TRUSTEES REMUNERATION No fees or remuneration, to include pension contributions were paid to any members of the Executive Committee for the year ended 30 November 202412023.. £0}. 11. TRUSTEES EXPENSES No amount reimbursed lo members of the Executive Committee for expenses12023.' £01.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 23 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 (Cont'd) 12. IXED ASSETS. HERITABLE PROPERTY Totsl Cost.. At beginning of year Additions Disposals At end of year 1049658 104965 Depreciation.. At beginning of year Charge for year Disposals At end of year 713768 20993 734761 Net Book Value.. Al end of year 30.11.24 At30.11.23 Being Extra Care, Mcmillan and Templeton Houses and the Grounds, Slonelaw Drive. Rulherglen. 13. FIXED ASSET: HERITABLE PROPERTY IMPROVEMENTS Cost". At beginning of year Additions Disposals Al end of year 1430235 1430235 Depreciation.. Al beginning of year Charge for year Disposals Al end of year 696954 71512 768466 Nel Book Value.. At end of year 30 11.24 At30.11.23

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 24 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Icont'dl 14. FIXED ASSETS.. FURNITURE FIThINGS AND UIPMENT House Kitchen Furnitu￿ Equipment and Fittin Garden Computer and Other Equipment Total Cost. Al beginning of year Additions Disposals At end of year 302793 72802 61235 34127 3566 91796 11041 375069 106929 3566 1 4784 375595 11 Depreciation.. Al beginning of year Charge for year DisFX)sals At end of year 145866 15633 19195 8284 2005 25474 8715 732 173776 24649 200S 196420 161499 447 Net Book Value.. A130.11.24 At30.11.23 16. INVESTMENTS 2023 Market value as at 1 December 2023 Additions Disposal proceeds Nel investment gain511osses 238933 247116 71940 8428 1718761 115660) 30002 5184 268999 234700 3062 4233 Decrease in cash awaiting investment Matket Value as at 30 November 2024 Historical cost at 30 November 2023 The Society holds a portfolio of investments and securities 811 of which are listed on the London Stock Exchange. 16. DEBTORS 2023 Residential Charges outstanding.. Debtors PrepaymenlslAccrued Income 52800 3751 120402 20710

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 25 TES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 (Cont'd) 17. CREDITORS: DUE WITHIN ONE YEAR 2024 2023 Residential Charges in advance.. Deferred income Taxation and Social Security Other Creditors Accruals 13382 16570 17831 119467 16797 13536 26847 89061 1 Release Deferred 30 December of 2023 In November 2023 deferrals 2024 2024 Residential charges in advance 18. SHARE CAPITAL 2024 No. 2023 No. The Society has no fixed authorised Share Capital. Shares of £1 each issue(8 and fully paid". At beginning of year Expired Membership Issued during year At end of year Each share entitles the holder to one vole at Committee meetings but no entitlement to dividends. 19. FUNDS OESIGNATED TANGIBLE FIXED ASSETS UNRESTRICTED GENERAL FUND DESIGNATED - MAJOR REPAIRS TOTAL RESERVES Balance brought forward Net movement for year Transfer be￿een funds 1242538 12236381 11786 55000 1270464 2568002 12236381 1178 Balance at 30111124 The designated fund Major Repairs has been designated by the Executive Committee to cover the costs of necessary works identified lo be undertaken lo the properties to ensure ¢ompliance with standards sel by regulatory bodies. During the year work to maintain and upgrade the properties was undertaken and capilalised, where appropriate, see notes 12 and 13. The Executive Committee have retained the designated fund for fvture ongoing works. The designated fund Tangible Fixed Assets has been designated by the Executive Committee to in¢lude the net book value of tangible fixed assets held by the Society. The transfer be￿een the Tangible Fixed Assets fund and the General Fund is the net ot additions, disposals and depreciation charge in the year.

ABBEYFIELD RUTHERGLEN SOCIETY LIMITED PAGE 26 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Icont'dl 19. FUNDS Icont'dl COMPARATIVES FOR MOVEMENT IN FUNDS DESIGNATED TANGIBLE FIXED ASSETS UNRESTRICTED GENERAL FUND DESIGNATED - MAJOR REPAIRS TOTAL RESERVES Balance brought forward Nel movement for year Transfer betsveen funds 1119429 74117 48992 55000 1319456 2493885 74117 48992 Balance al 30111123 20. RELATED PARTY TRANSACTIONS There were no related paty transactions during the year or the prior year. 21. CAPITAL COMMITMENTS At the year end the Society had committed to £0 of eapital commitm8nts12023.' £42,288).

AUDIT RESULTS REPORT FOR THE FY24 AUDIT Abbeyfield Rutherglen Society April 2025 AAB dwp¢yl¢

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT

CONTENTS

EXECUTIVE SUMMARY ............................................................................................................................................................................ 1 FINDINGS FROM OUR AUDIT .................................................................................................................................................................. 3 AUDIT DIFFERENCES .............................................................................................................................................................................. 5 CONTROL RECOMENDATIONS............................................................................................................................................................... 5 APPENDIX A – ADDITIONAL INFORMATION .......................................................................................................................................... 7

This report is intended for the Trustees of Abbeyfield Rutherglen Society to communicate concluding matters in accordance with our engagement letter dated 05 February 2024. This report is provided solely for this purpose and should not be shared with a third party without our prior consent.

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT EXECUTIVE SUMMARY OVERVIEW Audlt Area status" Detall rlD]to We consider the accounting policies adopted by the Charity to be appropriate to the Charity's 'status Is R6d, Ambgror Grsen dgpandlng on progrgss and findings AAB AABSOLUTELY DETlifATED TO HELPING YOU ACHIEVE YOUR GOALS.

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT EXECUTIVE SUMMARY (cont.) Audlt Area status" 00 Detall You have confi￿ed that there are no events or conditions that may affect the Charty's ability Directorfs reporto Irt[ratEfEodEEEtErJttttEEdEtEtEE￿]udil opinion, we expect lo reeeive management's 'status Is Réd, Amboror Gréen dapondlng on progrgss and Nndlngs AAB AABSOLUTELY DETlifATED TO HELPING YOU ACHIEVE YOUR GOALS.

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT

Page 3

FINDINGS FROM OUR AUDIT

RISK 1 – REVENUE RECOGNITION FRAUD RISK

In accordance with ISA 240 revenue recognition is a presumed significant risk. This risk area includes the potential for material misstatement due to fraudulent financial reporting relating to revenue recognition. This often results from an overstatement of revenues through, for example, premature revenue recognition or recording fictitious revenues. It may result also from an understatement of revenues through, for example, improperly shifting revenues to a later period.

THE KEY JUDGMENTS INVOLVED IN THIS RISK

Management may make judgements on the nature and extent of the controls it chooses to implement, and the nature and extent of the risks it chooses to assume in determining which controls to implement to prevent and detect fraud with regards to revenue recognition.

OUR RESPONSE TO THE RISK

We designed and implemented specific procedures over income transactions based on risk criteria as follows;

OUR CONCLUSION

We did not identify any issues as a result of our audit testing, and we consider that the revenue is appropriately stated.

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT

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FINDINGS FROM OUR AUDIT (cont.)

RISK 2 – MANAGEMENT OVERRIDE OF CONTROLS FRAUD RISK

In accordance with ISA 240 management override is a presumed significant risk. This risk area includes the potential for management to use its judgement to influence the financial statements as well as the potential to override Abbeyfield Rutherglen Society’s controls for specific transactions or to reach specific desired outcomes. Management is in a unique position to override controls that otherwise appear to be operating effectively. This is relevant to all organisations and entities, and we do not consider there to be a risk specific to Abbeyfield Rutherglen Society.

THE KEY JUDGMENTS INVOLVED IN THIS RISK

There is one member of staff who performs the majority of tasks within the finance function, albeit there is oversight from the Board. This gives rise to management override of controls and a higher fraud risk

OUR RESPONSE TO THE RISK

We have considered the sensitivity of judgements made in preparing the financial statements. We also remained alert to significant or unusual transactions out with of Abbeyfield Rutherglen Society’s normal course of business.

We also designed and implemented specific procedures over journal entries based on risk criteria and tested adjustments made to the trial balance for appropriateness. We concluded that no material bias was made by management, and no instances of management override were identified.

We completed system notes and walkthroughs to confirm the capabilities of the finance staff being able to override figures and transactions. Given the level of review and authorisation from the Trustees we regard this risk as low.

OUR CONCLUSION

Our testing identified no indication of management override of controls.

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT AUDIT DIFFERENCES OVERVIEW CONTROL RECOMENDATIONS OVERVIEW While our audit is not designed to provide an opinion on the entty's system of intemal controls as whole, we have identifledtttoll￿[t[Oll[￿Jt￿l Q EEiIEttttoJ table below presents a summary of the recommendationswe have discussed with management as well as management's response and tttEttroJJoJJtroL c￿￿0￿￿[[0 Finding Priority Target ritle Summary Description and Risk Audtt Recommendation Management Response IN IHIN AAB AABSOLUTELY DETlifATED TO HELPING YOU ACHIEVE YOUR GOALS.

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT CONTROL RECOMMENDATIONS (cont.) Finding Priority Title Summary Description and Risk Audit Recommendation Mana Target Date ement Res onse ri 11 of all employee's contracts and AAB AABSOLUTELY DETlifATED TO HELPING YOU ACHIEVE YOUR GOALS.

Abbeyfield Rutherglen Society AUDIT RESULTS REPORT FOR THE FY24 AUDIT

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APPENDIX A – ADDITIONAL INFORMATION

INDEPENDENCE

We have not identified any further matters with regards to integrity, objectivity, and independence since our discussions throughout the audit. We confirm that AAB partners and staff are independent of The Abbeyfield Rutherglen Society.

AUDIT MATERIALITY

In our Audit Planning Report, we set out the threshold below which we would consider potential adjustments as clearly trivial. At the conclusion of our audit this threshold remained unchanged.

GOING CONCERN

Going concern refers to the ability of Abbeyfield Rutherglen Society to settle its liabilities for at least the 12-month period from the financial statements being signed. The Trustees do not believe there are any inherent uncertainties in respect of going concern.

We have yet to conclude on the Trustees and management’s assessment of going concern as we are awaiting revised budgets, taking into consideration the planned restructure which is confirmed to be taking place post year end within the Society.

AAB UNITED KINGDOM + IRELAND + INTERNATIONAL