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REGISTERED COMPANY NUMBER: SC043013 (Scotland)
REGISTERED CHARITY NUMBER: SC005222















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

FOR

ABBEYFIELD PAISLEY SOCIETY LIMITED

ABBEYFIELD PAISLEY SOCIETY LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 15

ABBEYFIELD PAISLEY SOCIETY LIMITED (REGISTERED NUMBER: SC043013)

REPORT OF THE TRUSTEES
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023


The trustees present their annual trustees' report together with the financial statements of the charity and for the period ending 30th November 2023 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, and Accounting 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 (FRS 102).

OBJECTIVES AND ACTIVITIES
Objectives and aims
Abbeyfield Paisley was established for the purposes of managing Abbeyfield House at 1 Station Road in Paisley, which provides residential care and companionship for older people who are no longer willing or able to live alone.

Significant activities
Up to the end of November 2022 the chairity continued to support residents through regular contact with them while acknowledging that Abbeyfield House is their home and ensuring their independence.

During this period, Renfrewshire Social Work Department stated that Abbeyfield House no longer meets the needs of clients in today's climate. Therefore, due to low occupancy and costs, the trustees made the difficult decision to close Abbeyfield House on 30 November 2022.

Agreement was reached with OSCR to dissolve the charity and distribute the bulk of its remaing funds to organisations with similar charitable objectives. A formal application to strike off the charitable company will be made with Companies House and OSCR after the date of this report.

FINANCIAL REVIEW
Financial position
The charity has distributed its funds and will be formally wound up.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee having no share capital. The liability of its members is limited to £1.The company was incorporated with solely charitable objects and is governed by its memorandum and articles of association.

The company is recognised as a charity by the Office of the Scottish Charity Regulator, its reference number being SC005222.

Wider network
Abbeyfield Paisley is affiliated to The Abbeyfield Society and has adopted the national Abbeyfield Standards. After inspection, it was confirmed that those standards have been met.

Related parties
C H McNaught, a trustee and secretary of the company, is a partner in the firm Wright & Crawford, the company's solicitors.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC043013 (Scotland)

Registered Charity number
SC005222


ABBEYFIELD PAISLEY SOCIETY LIMITED (REGISTERED NUMBER: SC043013)

REPORT OF THE TRUSTEES
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

Registered office
11 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

Trustees
J J McLaren
Mrs M A Hackett
C H McNaught
S K Gilchrist
Mrs F Boyd
R A Reeves
Mrs H A Stevenson
Mrs A Montgomery

Company Secretary
C H McNaught

Independent Examiner
David H. Nairn
Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

Bankers
Royal Bank of Scotland plc
Paisley Chief Office
1 Moncrieff Street
Paisley
PA3 2AW

Approved by order of the board of trustees on 6 February 2024 and signed on its behalf by:





Mrs M A Hackett - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ABBEYFIELD PAISLEY SOCIETY LIMITED

I report on the accounts for the period 1 July 2022 to 30 November 2023 set out on pages four to fifteen.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








David H. Nairn
The Institute of Chartered Accountants of Scotland

Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

6 February 2024

ABBEYFIELD PAISLEY SOCIETY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

Period
1/7/22
to Year Ended
30/11/23 30/6/22
Designated Unrestricted Restricted Total Total
fund fund fund funds funds
Notes £    £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies - 77 - 77 91

Charitable activities
Residential Care - 17,250 - 17,250 63,350
Cessation of activities - 1,008 - 1,008 -

Investment income 2 - 10,147 - 10,147 6,339
Total - 28,482 - 28,482 69,780

EXPENDITURE ON
Raising funds 3 - 3,946 - 3,946 3,000

Charitable activities 4
Residential Care - 41,111 - 41,111 108,252
Cessation of activities 56,419 10 - 56,429 -
Distribution of funds - 461,215 - 461,215 -
Total 56,419 506,282 - 562,701 111,252

Net gains/(losses) on
investments

-

(2,393

)

-

(2,393

)

(27,760

)

NET
INCOME/(EXPENDITURE)

(56,419

)

(480,193

)

-

(536,612

)

(69,232

)
Transfers between funds 15 (22,356 ) 22,356 - - -
Other recognised gains/(losses)
Gains on revaluation of fixed
assets

-

-

-

-

59,615
Net movement in funds (78,775 ) (457,837 ) - (536,612 ) (9,617 )

RECONCILIATION OF FUNDS
Total funds brought forward 80,000 456,612 - 536,612 546,229

TOTAL FUNDS CARRIED
FORWARD

1,225

(1,225

)

-

-

536,612

ABBEYFIELD PAISLEY SOCIETY LIMITED (REGISTERED NUMBER: SC043013)

BALANCE SHEET
30 NOVEMBER 2023

30/11/23 30/6/22
Notes £    £   
FIXED ASSETS
Tangible assets 10 - 230,000
Investments 11 - 259,885
- 489,885

CURRENT ASSETS
Debtors 12 - 2,654
Cash in hand - 49,491
- 52,145

CREDITORS
Amounts falling due within one year 13 - (5,418 )

NET CURRENT ASSETS - 46,727

TOTAL ASSETS LESS CURRENT
LIABILITIES

-

536,612

NET ASSETS - 536,612
FUNDS 15
Unrestricted funds - 536,612
TOTAL FUNDS - 536,612

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2023.


The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.


ABBEYFIELD PAISLEY SOCIETY LIMITED (REGISTERED NUMBER: SC043013)

BALANCE SHEET - continued
30 NOVEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 6 February 2024 and were signed on its behalf by:





M A Hackett - Trustee

ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting 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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Abbeyfield Paisley Society Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Preparation of accounts on a going concern basis
As mentioned in the trustees' report, the charity has ceased at the end of November 2022 and the financial statements have been prepared on a basis other than that of the going concern basis.

Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donation and grants are recognised when the charity has been notified of both the amount and settlement date. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the investment advisor of the dividend yield of the investment portfolio.

Other income represents those items not falling into any other heading.

Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise of investment portfolio management fees.

Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity and their associated support costs.

Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated to expenditure on charitable activities.

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



ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

1. ACCOUNTING POLICIES - continued

Tangible fixed assets
Freehold property - 2% on cost
Plant and machinery - 20% on cost

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work.

Debtors
Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

Cash and bank
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Pension costs and other post-retirement benefits
The charitable company operated a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.





ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

1. ACCOUNTING POLICIES - continued

Financial instruments

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2. INVESTMENT INCOME
Period
1/7/22
to Year Ended
30/11/23 30/6/22
£    £   
Dividends and interest 8,915 6,297
Deposit account interest 1,232 42
10,147 6,339

3. RAISING FUNDS

Investment management costs
Period
1/7/22
to Year Ended
30/11/23 30/6/22
£    £   
Portfolio management 3,946 3,000

4. CHARITABLE ACTIVITIES COSTS
Direct
Costs (see Support
note 5) costs Totals
£    £    £   
Residential Care 41,111 - 41,111
Cessation of activities 53,236 3,193 56,429
Distribution of funds 461,215 - 461,215
555,562 3,193 558,755


ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

5. DIRECT COSTS OF CHARITABLE ACTIVITIES
Period
1/7/22
to Year Ended
30/11/23 30/6/22
£    £   
Staff costs 78,720 56,530
Rates 2,018 2,952
Insurance 1,465 2,703
Light and heat 3,260 7,669
Telephone 754 1,680
Postage and stationery 82 -
Advertising - 1,473
Sundries 1,251 1,884
Food 1,058 5,575
Voluntary assistance - 980
Repairs and maintenance 2,696 11,005
Membership and affiliation fees 2,278 3,210
Cleaning 765 1,640
Donations paid 461,215 -
Freehold property depreciation - 5,980
Plant and machinery depreciation - 2,583
555,562 105,864

Donations paid are the distribution of funds to the following organisations:

£
ROAR - Connections for Life 221,215
Abbeyfield Ballachulish 120,000
Abbeyfield Strathgryffe 40,000
Crisis, Erskine 30,000
Abbeyfield Irvine 20,000
Abbeyfield Kirkcaldy 20,000
Food Train 10,000
461,215

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
1/7/22
to Year Ended
30/11/23 30/6/22
£    £   
Depreciation - owned assets - 8,563
Surplus on disposal of fixed assets (5,000 ) -


ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 November 2023 nor for the year ended 30 June 2022.


Trustees' expenses

There were no trustees' expenses paid for the period ended 30 November 2023 nor for the year ended 30 June 2022.


8. STAFF COSTS
Period
1/7/22
to Year Ended
30/11/23 30/6/22
£    £   
Wages and salaries 77,867 55,477
Other pension costs 853 1,053
78,720 56,530

The average monthly number of employees during the period was as follows:

Period
1/7/22
to Year Ended
30/11/23 30/6/22
Average number of employees 4 4

No employees received emoluments in excess of £60,000.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Designated Unrestricted Restricted Total
fund fund fund funds
£    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies - 91 - 91

Charitable activities
Residential Care - 63,350 - 63,350

Investment income - 6,339 - 6,339
Total - 69,780 - 69,780

EXPENDITURE ON
Raising funds - 3,000 - 3,000

Charitable activities
Residential Care - 104,113 4,139 108,252
Total - 107,113 4,139 111,252


ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Designated Unrestricted Restricted Total
fund fund fund funds
£    £    £    £   
Net gains/(losses) on investments - (27,760 ) - (27,760 )

NET INCOME/(EXPENDITURE) - (65,093 ) (4,139 ) (69,232 )
Transfers between funds 80,000 31,761 (111,761 ) -
Other recognised gains/(losses)
Gains on revaluation of fixed assets - 59,615 - 59,615
Net movement in funds 80,000 26,283 (115,900 ) (9,617 )

RECONCILIATION OF FUNDS
Total funds brought forward - 430,329 115,900 546,229

TOTAL FUNDS CARRIED FORWARD 80,000 456,612 - 536,612

10. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 July 2022 225,000 5,000 230,000
Disposals (225,000 ) (5,000 ) (230,000 )
At 30 November 2023 - - -
NET BOOK VALUE
At 30 November 2023 - - -
At 30 June 2022 225,000 5,000 230,000

11. FIXED ASSET INVESTMENTS

All investments were disposed during the period.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/6/22
£    £   
Other debtors - 1,189
Prepayments and accrued income - 1,465
- 2,654


ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/6/22
£    £   
Social security and other taxes - 545
Accrued expenses - 4,873
- 5,418

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
30/11/23 30/6/22
Designated Unrestricted Restricted Total Total
fund fund fund funds funds
£    £    £    £    £   
Fixed assets - - - - 230,000
Investments - - - - 259,885
Current assets 1,225 (1,225 ) - - 52,145
Current liabilities - - - - (5,418 )
1,225 (1,225 ) - - 536,612

15. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1/7/22 in funds funds 30/11/23
£    £    £    £   
Unrestricted funds
General fund 456,612 (480,193 ) 22,356 (1,225 )
Winding down costs 80,000 (56,419 ) (22,356 ) 1,225
536,612 (536,612 ) - -
TOTAL FUNDS 536,612 (536,612 ) - -

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 28,482 (506,282 ) (2,393 ) (480,193 )
Winding down costs - (56,419 ) - (56,419 )
28,482 (562,701 ) (2,393 ) (536,612 )
TOTAL FUNDS 28,482 (562,701 ) (2,393 ) (536,612 )


ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1/7/21 in funds funds 30/6/22
£    £    £    £   
Unrestricted funds
General fund 430,329 (5,478 ) 31,761 456,612
Winding down costs - - 80,000 80,000
430,329 (5,478 ) 111,761 536,612
Restricted funds
Grant reserve 115,900 (4,139 ) (111,761 ) -

TOTAL FUNDS 546,229 (9,617 ) - 536,612

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 69,780 (107,113 ) 31,855 (5,478 )

Restricted funds
Grant reserve - (4,139 ) - (4,139 )

TOTAL FUNDS 69,780 (111,252 ) 31,855 (9,617 )

Transfers between funds

As mentioned in the trustees' report, the charity closed at the end of November 2022. The trustees consider it appropriate to designate remaining funds to cover the costs of closure.

16. EMPLOYEE BENEFIT OBLIGATIONS

The charity operated a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounts to £853 (2022: £1,053). No contributions were payable to the fund at the period end (2022: £nil).


ABBEYFIELD PAISLEY SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 NOVEMBER 2023

17. RELATED PARTY DISCLOSURES

During the period the charity made donations of £221,215 to ROAR - Connections for Life, of which Mrs M A Hackett is a trustee (2022 - £nil).

The charity also made a donation of £120,000 to Abbeyfield Ballachulish, of which J J McLaren is a trustee (2022- £nil).