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REGISTERED COMPANY NUMBER: 00714675 (England and Wales)
REGISTERED CHARITY NUMBER: 247440


























REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 14

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED (REGISTERED NUMBER: 00714675)
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th September 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims for the Public Benefit
The Society is a Registered Social Landlord and, as such, its principal activity is to provide accommodation for the lonely and active elderly, in accordance with the aims and principles of the Abbeyfield Society Limited. The Society charges residents a minimal rent, which is often supported through local grants to ensure that its service benefits the disadvantaged and needy.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The ultimate aim of the Committee is to achieve full occupancy, though this is not always possible.

The financial statements show a surplus on ordinary activities of £1,462 (2023: surplus £10,807) in the year ended 30th September 2024.


The society continues to have a very successful core standards review which is assessed by an Abbeyfield inspector.

Committee and staff worked well together and we are very pleased with outcomes both for residents and
the continued financial viability of Walter Large House.

FINANCIAL REVIEW
Investment policy and objectives
In accordance with the trust deed, the trustees have the power to invest in such stocks, shares, investments and property in the UK as they see fit. The Trustees have adopted a policy of investing in low risk investments that will allow relatively easy access to the Society's funds at any one time.

Reserves policy
The financial results for the year are set out in the Statement of Financial activities. The financial position at the year-end is shown in the balance sheet.

It is the policy of the Executive Committee to maintain the reserves of the charity for current and future charitable purposes, as well as the general upkeep of the property, in keeping with the Society's aims and objectives, not as a hoarding policy.


THE ABBEYFIELD DEPTFORD SOCIETY LIMITED (REGISTERED NUMBER: 00714675)
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Society is a Company Limited by guarantee, a Registered Social Landlord and a registered charity governed by its memorandum and articles of association. The Society is registered under the Companies Act 2006 and the Housing Act 1996. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

The Directors of the Company are also charity trustees for the purposes of charity law and under the company's articles are known as members of the executive committee.

The members of the Executive committee who served during the year and since the year-end are set out on the charity information page at the front of these accounts.

In accordance with the rules of the Society, one third of the Committee retire by rotation and offer themselves for re-election:

G Pratt
P H Macdonald

Recruitment and appointment of new trustees
Potential new trustees are recruited usually by way of an approach made by existing trustees. The trustees of the society receive no remuneration and so it is important that potential trustees have the time and interest to commit to the Society. Following a formal screening process and subject to DBS checks, the applicant is then formally elected at a board meeting.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
00714675 (England and Wales)

Registered Charity number
247440

Registered office
Walter Large House
7 Crescent Way
London
SE4 1QL

Trustees
G Pratt
M Baker
P H Macdonald
Ms M Stone (deceased 30/9/2024)
Ms M P Campbell

Social Housing Regulator No.
H2905

Chairman
M Baker

Treasurer
M Baker

Company Secretary
G Pratt


THE ABBEYFIELD DEPTFORD SOCIETY LIMITED (REGISTERED NUMBER: 00714675)
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Richard J Halsey BSc (Hons) FCCA.
Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 18th June 2025 and signed on its behalf by:





M Baker - Trustee

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

Independent examiner's report to the trustees of The Abbeyfield Deptford Society Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2024.

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 - matters of concern identified
I have completed my examination.

In connection with my examination, I have the following matter to report:

- I was unable to obtain sufficient evidence to support a material proportion of the accounting transactions examined, due to the unavailability of supporting documentation requested.

- No trustee meetings were held during the year and as such, this raises concerns about the adequacy of the charity's internal controls and governance arrangements.

I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

1. except for the matter of concern noted above 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; and
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended 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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.








Richard J Halsey BSc (Hons) FCCA.

Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

25th June 2025

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

30.9.24 30.9.23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities 3
Sheltered Housing 52,322 - 52,322 54,219

Investment income 2 421 - 421 77
Total 52,743 - 52,743 54,296

EXPENDITURE ON
Charitable activities 4
Sheltered Housing 51,280 - 51,280 43,489

NET INCOME 1,463 - 1,463 10,807


RECONCILIATION OF FUNDS
Total funds brought forward 919,018 - 919,018 908,211

TOTAL FUNDS CARRIED FORWARD 920,481 - 920,481 919,018

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED (REGISTERED NUMBER: 00714675)
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 880,029 - 880,029 882,591

CURRENT ASSETS
Debtors 12 1,762 - 1,762 3,699
Cash at bank and in hand 42,732 - 42,732 36,333
44,494 - 44,494 40,032

CREDITORS
Amounts falling due within one year 13 (4,042 ) - (4,042 ) (3,605 )

NET CURRENT ASSETS 40,452 - 40,452 36,427

TOTAL ASSETS LESS CURRENT
LIABILITIES

920,481

-

920,481

919,018

NET ASSETS 920,481 - 920,481 919,018
FUNDS 14
Unrestricted funds 920,481 919,018
TOTAL FUNDS 920,481 919,018

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 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.


THE ABBEYFIELD DEPTFORD SOCIETY LIMITED (REGISTERED NUMBER: 00714675)
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

BALANCE SHEET - continued
30TH SEPTEMBER 2024

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 18th June 2025 and were signed on its behalf by:





M Baker - Trustee





G Pratt - Trustee





P H Macdonald - Trustee

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Donations
Voluntary income is received by way of donations, gifts and legacies and is included in full in Income and Expenditure Account when receivable.

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


Improvement to Property - 15% on cost
Fixtures and fittings - 15% on reducing balance

Future Cyclical Repairs and Maintenance
Major repairs and cyclical maintenance reserve is maintained by regular appropriations from the Revenue Reserve. The balance on the reserve represents the amount available to cover cost of such work.

Works to existing housing properties
Improvements to the properties that result in an enhancement of economic benefits are capitalised and works that do not, are written off under Repairs and Garden Maintenance in the Income & Expenditure Account.

Taxation
The Society is not registered for VAT. Accordingly, no VAT is charged to residents and expenditure in the Income and Expenditure Account includes the relevant VAT. The Society is also exempt from Corporation tax on the grounds that it is a Registered Charity. For this reason, deferred tax is also not recognised on gains or carrying values of fixed assets as any funds realised would always be used for charitable purposes.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.


THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. ACCOUNTING POLICIES - continued

Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. There are no restricted funds.

2. INVESTMENT INCOME
30.9.24 30.9.23
£    £   
Deposit account interest 421 77

3. INCOME FROM CHARITABLE ACTIVITIES
30.9.24 30.9.23
Activity £    £   
Residents Charges Sheltered Housing 60,110 54,219
Losses arising from
Vacancies


Sheltered Housing

(7,788

)

-
52,322 54,219

4. CHARITABLE ACTIVITIES COSTS
Direct
Costs (see Support
note 5) costs Totals
£    £    £   
Sheltered Housing 41,730 9,550 51,280

5. DIRECT COSTS OF CHARITABLE ACTIVITIES
30.9.24 30.9.23
£    £   
Staff costs 17,634 15,589
Food and Provisions 4,108 4,196
Insurance 1,813 1,724
Upkeep of Premises 5,890 2,139
Telephone and Broadband 759 824
Postage and stationery - 8
Council Tax and Rates 3,629 3,845
Heat and Light 6,972 5,849
Resident Support 925 902
41,730 35,076


THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

6. OTHER
30.9.24 30.9.23
£    £   
Support costs 9,550 8,413


7. NET INCOME/(EXPENDITURE)

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

30.9.24 30.9.23
£    £   
Depreciation - owned assets 2,902 2,725

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th September 2024 nor for the year ended 30th September 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30th September 2024 nor for the year ended 30th September 2023.


9. STAFF COSTS

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

30.9.24 30.9.23
Housekeeping 1 1

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

No staff members received remuneration exceeding £60,000.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
Sheltered Housing 54,219 - 54,219

Investment income 77 - 77
Total 54,296 - 54,296

EXPENDITURE ON
Charitable activities
Sheltered Housing 43,489 - 43,489

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds fund funds
£    £    £   

NET INCOME 10,807 - 10,807


RECONCILIATION OF FUNDS
Total funds brought forward 908,211 - 908,211

TOTAL FUNDS CARRIED FORWARD 919,018 - 919,018

11. TANGIBLE FIXED ASSETS
Improvement Fixtures
Freehold to and
property Property fittings Totals
£    £    £    £   
COST
At 1st October 2023 875,000 19,350 12,919 907,269
Additions - - 340 340
At 30th September 2024 875,000 19,350 13,259 907,609
DEPRECIATION
At 1st October 2023 - 13,510 11,168 24,678
Charge for year - 2,588 314 2,902
At 30th September 2024 - 16,098 11,482 27,580
NET BOOK VALUE
At 30th September 2024 875,000 3,252 1,777 880,029
At 30th September 2023 875,000 5,840 1,751 882,591

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Rent Arrears 382 2,611
Prepayments 1,380 1,088
1,762 3,699


THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 372 1,658
Social security and other taxes 723 615
Other creditors 1,191 -
Accrued expenses 1,756 1,332
4,042 3,605

14. MOVEMENT IN FUNDS
Net
At movement At
1/10/23 in funds 30/9/24
£    £    £   
Unrestricted funds
General fund 910,997 1,463 912,460
Repairs and Maintenance reserve fund 8,021 - 8,021
919,018 1,463 920,481
TOTAL FUNDS 919,018 1,463 920,481

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 52,743 (51,280 ) 1,463

TOTAL FUNDS 52,743 (51,280 ) 1,463


Comparatives for movement in funds

Net
At movement At
1/10/22 in funds 30/9/23
£    £    £   
Unrestricted funds
General fund 900,190 10,807 910,997
Repairs and Maintenance reserve fund 8,021 - 8,021
908,211 10,807 919,018
TOTAL FUNDS 908,211 10,807 919,018

THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

14. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 54,296 (43,489 ) 10,807

TOTAL FUNDS 54,296 (43,489 ) 10,807

A current year 12 months and prior year 12 months combined position is as follows:

Net
At movement At
1/10/22 in funds 30/9/24
£    £    £   
Unrestricted funds
General fund 900,190 12,270 912,460
Repairs and Maintenance reserve fund 8,021 - 8,021
908,211 12,270 920,481
TOTAL FUNDS 908,211 12,270 920,481

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 107,039 (94,769 ) 12,270

TOTAL FUNDS 107,039 (94,769 ) 12,270


THE ABBEYFIELD DEPTFORD SOCIETY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th September 2024.

16. POST BALANCE SHEET EVENTS

There were no post Balance sheet events to disclose.

17. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the Society is considered to be the Executive Committee.

18. SHARE CAPITAL

There is no authorised share capital and the liability of each member is limited to £1.

19. VALUE FOR MONEY METRICS

The Society is required to report on seven metrics with which are used to measure economy, efficiency and effectiveness across the social housing sector.

Reinvestment 0%
New Supply Delivered 100%
Gearing 0%
EBITA 0%
Headline Social Housing Cost £48,378
Operating Margin 3%
Return on Capital Employed 0%