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REGISTERED NUMBER: 00643334 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED

THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED (REGISTERED NUMBER: 00643334)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Report of the Accountants 2

Statement of Financial Position 4

Notes to the Financial Statements 6


THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: S Banks
A Ross
C Brian
S Storrie
A Farnell
Mrs L Neal
D M Thomas
M R L Farrell





SECRETARY: Mrs M A Taylor





REGISTERED OFFICE: 37 St. Lukes Road
Cheltenham
Gloucestershire
GL53 7JF





REGISTERED NUMBER: 00643334 (England and Wales)





ACCOUNTANTS: Andorran Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX

THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

Independent examiner's report to the trustees of Abbeyfield Gloucestershire Society Limited ('the company')
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023.

Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in England & Wales which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recognised Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.






Andorran Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX


THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED (REGISTERED NUMBER: 00643334)

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED


26 September 2023

THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED (REGISTERED NUMBER: 00643334)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 3 1,488,661 1,528,169

CURRENT ASSETS
Debtors 4 8,030 11,218
Cash at bank 224,895 247,168
232,925 258,386
CREDITORS
Amounts falling due within one year 5 (15,735 ) (15,516 )
NET CURRENT ASSETS 217,190 242,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,705,851

1,771,039

CREDITORS
Amounts falling due after more than one
year

6

(814,878

)

(823,880

)
NET ASSETS 890,973 947,159

RESERVES
Capital reserve 7 447,151 447,151
Retained earnings 7 443,822 500,008
890,973 947,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED (REGISTERED NUMBER: 00643334)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





A Farnell - Director


THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED (REGISTERED NUMBER: 00643334)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP) including Financial Reporting Standard number 102 (FRS102) and the Statement of Recommended Practice for Registered Social Housing Providers (SORP2018) and comply with the Accounting Direction for Private Registered Providers of Social Housing 2019.

The financial statements have been prepared on the historical cost basis of accounting.

The financial statements are presented in £ sterling.

The company is a public benefit entity.

Going Concern
The directors continue to review the impact of Covid-19 and other global factors outside their control on the Society and they continue to ensure provisions are in place in order to mitigate any risk to the Society and its ability to continue as a going concern.

The directors consider that there was no serious impact for the Society in the period under review and expect the Society to continue operations as a going concern and that there are no material uncertainties about its ability to continue. Consequently the going concern basis of accounting continues to be adopted for these financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Impairment
The directors have determined whether there are indicators of impairment of its assets and in particular of housing properties carried in the financial statements at cost. Factors taken into consideration in reaching such a decision include economic viability and expected future financial performance of the assets.

Useful lives of depreciable assets
The directors review their estimate of the useful lives of depreciable assets at each reporting date based on the expected use of the assets. Uncertainties in these estimates relate to technological innovation, maintenance programmes or changes in homes standards that may require more frequent replacement of key components.

Revenue recognition
Turnover represents rental and service charge income receivable in the year, after deducting voids, and other services included at the invoiced value. Rental income is recognised from the point when properties under development reach practical completion or otherwise become available for letting and tenanted.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Taxation
The Society is exempt from tax on income and gains, to the extent that these are applied to its charitable objects, and was not registered for VAT at any time during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 1% on cost
Fixtures and fittings - 20% on cost


THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED (REGISTERED NUMBER: 00643334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 13 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2022 1,671,881 265,619 1,937,500
Additions - 12,158 12,158
At 31 March 2023 1,671,881 277,777 1,949,658
DEPRECIATION
At 1 April 2022 258,831 150,500 409,331
Charge for year 16,719 34,947 51,666
At 31 March 2023 275,550 185,447 460,997
NET BOOK VALUE
At 31 March 2023 1,396,331 92,330 1,488,661
At 31 March 2022 1,413,050 115,119 1,528,169

The directors reviewed the estimated economic lives of the properties during 2019 in line with the Society's policy on accounting estimates and adjusted the rates of depreciation accordingly. No further changes were deemed necessary for the year to 31 March 2023.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,642 3,654
Prepayments 5,388 7,564
8,030 11,218

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 4,070 3,485
Accrued expenses 3,025 3,753
Deferred government grants 8,640 8,278
15,735 15,516

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Deferred government grants 814,878 823,880

THE ABBEYFIELD GLOUCESTERSHIRE SOCIETY
LIMITED (REGISTERED NUMBER: 00643334)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. RESERVES
Retained Capital
earnings reserve Totals
£    £    £   

At 1 April 2022 500,008 447,151 947,159
Deficit for the year (56,186 ) - (56,186 )
At 31 March 2023 443,822 447,151 890,973

The 'Capital reserve' records the amount available for future use against capital expenditure.

8. CONTINGENT LIABILITIES

During 2019, the property at Nailsworth was sold. The property was subject to a government grant that is technically prior repayable in certain conditions. At the date of approval of these financial statements, it was the intention of the trustees that the proceeds of sale would be applied to a purpose that qualifies the Society to retain the government grant. As a result, in the view of the trustees, there is no liability under the terms of the government grant, although the trustees acknowledge that there is a risk that repayment might be required if they do not comply with all of the conditions applying to the original grant.

9. CAPITAL COMMITMENTS

There are no capital or other financial commitments at 31 March 2023.

10. RELATED PARTY DISCLOSURES

There were no related party transactions during the year.

11. POST BALANCE SHEET EVENTS

The house at Cirencester was closed and the residents relocated to other Abbeyfield houses by the end of March 2022. The property is under offer for sale (subject to contract).

12. COMPANY LIMITED BY GUARANTEE

The Society is a company limited by guarantee and has no share capital. Each member has undertaken to contribute an amount not exceeding £1 in the event of the company being wound up while he or she is a member or within one year of ceasing to be a member.