ABBEYFIELD EWELL SOCIETY LIMITED(THE)

	Page
Trustees' Report	1—4
Independent Examiner's Report	5
Statement of Financial Activities (including Income and Expenditure Account)	6
Comparative Statement of Financial Activities (including Income and Expenditure Account)	7
Balance Sheet	8
Notes to the Financial Statements	9—15

The trustees present their report and the financial statements for the year ended 31 December 2025.

Objectives and Activities

Aims and Objectives

The charity is established to provide housing accommodation, food and support for elderly people in accordance with the aims and principles of The Abbeyfield Society Limited. The charity is an independent association of local people with an Executive Committee comprising elected members. It owns the freehold of “Wendover House”, 266 Chessington Road, West Ewell, Surrey, KT19 9XF.

Public Benefit

The Society exists to support elderly and vulnerable people through assisted housing and other initiatives. It is the policy of the Trustees to maximise the public benefits provided by the Society in providing high quality support, having regard to the Society’s reserves, the cost of facilities and the ability of residents to make payments from their own resources.

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.

Achievements and Performance

Main Achievements

Charitable Activities

In 2025, our occupancy levels were similar to the previous year, and again we welcomed some residents on a short term “respite” basis. We will continue to offer this as an option when we have vacancies, as in some cases it has led to the individuals becoming permanent residents. We also offered trial periods as this helps both us and the potential residents and their families to assess whether we are able to meet their needs.

One highlight in the year was the successful tea event in December to which we welcomed families and friends of residents. We had planned to include some carol singing, but during the event we felt that this was unnecessary as it would have interrupted the flowing conversations.

As always, we are grateful to our staff team for their enthusiasm, care and flexibility, particularly in their willingness to cover for each other when someone is ill. This flexibility is invaluable given the small team we have.

Financial Review

Financial Position

The financial results for the year are set out in the Statement of Financial Activities. The financial position at the end of the year is shown in the Balance Sheet. The Executive Committee members continue to monitor the costs associated with running sheltered housing properly and look at ways in which they can deliver the service in the most cost-effective way. The trustees are aware that to continue to offer overnight “sleep in” cover (a service which is highly valued by our residents and their families) that Wendover House will operate at a deficit, even if we have full occupancy. The sums available in our various reserves mean that we can continue this policy for some years. The trustees continue to look at new developments and believe that the finances of the Society are satisfactory and that it remains a going concern.

Principal Funding Sources

The funds received from the sale of Fircroft in 2017 remained invested in a managed investment fund, with the intention that the income from the investments should be used for the purposes that the donor envisaged. The 2019 modifications to the grant making framework, together with increased awareness of relevant local organisations about the availability of grants, enabled us to continue to make grants available, although the demand for these was lower. We continue to be in contact with Epsom Age Concern who occasionally have clients who would benefit from this support.

The Trustees have previously established the principle that if the investment performance of the Cooper Memorial Fund money permits, they approve the use of any surplus not required for grants to individuals to cover the operating deficit on Wendover House. Happily, the investment performance in 2025 was more than sufficient to cover this in 2025.

Should the investment performance mean that the surplus is insufficient to cover the operating deficit, the Trustees have agreed that any deficit would be funded by drawing down some of the funds invested (in deposit accounts) from the earlier sale of Grove Cottage.

Investment policy and objectives

...CONTINUED

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Trustees' Report (continued)

For The Year Ended 31 December 2025

Financial Position - continued

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. At present, the Committee has pursued a low risk strategy. General funds are invested in interest bearing deposit accounts, spread across banks to minimise exposure to losses. After taking independent financial advice, the proceeds from the sale of Fircroft, £1.1million, were invested in a cautious growth portfolio – divided equally between a “Fund of Funds” investment (Nucleus General Growth Fund V 41) and the Prudential Risk Managed active 3 portfolio. Both investments contain a mix of bonds, UK and global equities, with small amounts allocated to property and to money market funds. These investments are designed to preserve the Fund’s capital and to provide a steady return (after deduction of fees), with the intention that returns will be withdrawn to fund the grant making activities of the Cooper Memorial Fund whilst leaving the capital intact.

Reserves Policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, for current and future charitable purposes which are in keeping with the Society’s aims and objectives, and not as a “hoarding” policy. These purposes include planning for expenditure on maintenance and upkeep of the Society’s property, and also to maintain services in periods when the Society’s rental income is reduced due to voids. The Executive Committee monitor and review this policy from time to time. The Trustees are also responsible for ensuring that restricted reserves are used solely for the purpose that they have been set aside for, and in keeping with the wishes of the donor where applicable.

There are, however, restricted reserves in the form of the Cooper Memorial Fund (formerly designated as “Fircroft”). These reserves are slightly more limited in their application and relate specifically to the care of the elderly, so these funds are earmarked and utilised to this effect.

Free Reserves

At 31 December 2025 the charity held free reserves of £412,196, comprising unrestricted funds excluding designated funds and amounts invested in tangible fixed assets.

Structure, Governance and Management

Governing Document

The charity is a charitable company limited by guarantee, as defined by the Companies Act 2006 incorporated on 19 June 1961. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Trustee Selection Methods

Potential trustees are approached by the board and interviewed for suitability for the role. It is vital that candidates have the time and enthusiasm to give the society to make a success of the position and benefit the society in its work. If found to be suitable, they may be elected onto the Executive committee.

Given the age profile of the current Trustees, the fact that we have recently been unable to identify any new Trustees remains a significant risk for the society going forward.

Organisational structure

The members of the Executive Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out below.

Reference and Administrative Details

Trustees

Jocelyn Fuller

Jeremy Randall

Robin Willes

Janet Sherbourne (resigned 13/01/2025)

Charity Number

204444

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Trustees' Report (continued)

For The Year Ended 31 December 2025

Company Number

00696832

Principal Address

Wendover House

266 Chessington Road

West Ewell

Surrey

KT19 9XF

Registered Office

Wendover House

266 Chessington Road

West Ewell

Surrey

KT19 9XF

Independent Examiner

Richard Halsey FCCA

Halsey & Co (Accountants) Ltd.

Chartered Certified Accountants and Registered Auditors

2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

This Trustees’ Report incorporates the Directors’ Report required by the Companies Act 2006. This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Trustees' Report (continued)

For The Year Ended 31 December 2025

Statement of Trustees' Responsibilities

The trustees (who are also the directors of ABBEYFIELD EWELL SOCIETY LIMITED(THE) for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgments and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Jeremy Randall

Trustee

15/09/2026

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Independent Examiner's Report to the Trustees of ABBEYFIELD EWELL SOCIETY LIMITED(THE)

For The Year Ended 31 December 2025

Independent Examiner's Report to the Trustees of ABBEYFIELD EWELL SOCIETY LIMITED(THE)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and Basis of Report

As the charity 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

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:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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 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.

Richard Halsey FCCA

21/09/2026

2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 December 2025

Statement of Financial Activities (including Income and Expenditure Account)

				2025	2024
		Unrestricted funds	Restricted funds	Total funds	Total funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM:
Charitable activities:	2
Wendover House resident's accommodation		122,883	-	122,883	134,657
Other trading activities		100	-	100	-
Investments	3	18,511	-	18,511	21,652

		141,494	-	141,494	156,309

EXPENDITURE ON:
Raising funds	5	-	-	-	1
Charitable activities:	5
Administration		(65,128 )	-	(65,128 )	(74,108 )
Wendover House resident's accommodation		(120,239 )	-	(120,239 )	(110,529 )

		(185,367 )	-	(185,367 )	(184,636 )

NET EXPENDITURE		(43,873 )	-	(43,873 )	(28,327 )

Transfers between funds	15	43,873	(43,873 )	-	-
Gains on revaluation of fixed assets		-	115,220	115,220	65,136

NET MOVEMENT IN FUNDS		-	71,347	71,347	36,809
RECONCILIATION OF FUNDS:
Total funds brought forward		1,175,101	1,136,809	2,311,910	2,275,101

TOTAL FUNDS CARRIED FORWARD	15	1,175,101	1,208,156	2,383,257	2,311,910

The notes on pages 9 to 15 form part of these financial statements.

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Comparative Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 December 2025

Comparative Statement of Financial Activities (including Income and Expenditure Account)

				2024
		Unrestricted funds	Restricted funds	Total funds
	Notes	£	£	£
INCOME AND ENDOWMENTS FROM:
Charitable activities:	2
Wendover House resident's accommodation		134,657	-	134,657
Investments	3	21,652	-	21,652

		156,309	-	156,309

EXPENDITURE ON:
Raising funds	5	1	-	1
Charitable activities:	5
Administration		(73,851 )	(257 )	(74,108 )
Wendover House resident's accommodation		(110,529 )	-	(110,529 )

		(184,379 )	(257 )	(184,636 )

NET EXPENDITURE		(28,070 )	(257 )	(28,327 )

Transfers between funds	15	28,070	(28,070 )	-
Gains on revaluation of fixed assets		-	65,136	65,136

NET MOVEMENT IN FUNDS		-	36,809	36,809
RECONCILIATION OF FUNDS:
Total funds brought forward		1,175,101	1,100,000	2,275,101

TOTAL FUNDS CARRIED FORWARD	15	1,175,101	1,136,809	2,311,910

The notes on pages 9 to 15 form part of these financial statements.

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Balance Sheet

As At 31 December 2025

Balance Sheet

				2025	2024
		Unrestricted funds	Restricted funds	Total funds	Total funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	10	732,809	-	732,809	731,615
Investments	11	43,873	1,151,230	1,195,103	1,109,883

		776,682	1,151,230	1,927,912	1,841,498
CURRENT ASSETS
Debtors	12	13,661	-	13,661	15,807
Investments	13	298,078	26,925	325,003	406,058
Cash at bank and in hand		93,966	30,001	123,967	60,885

		405,705	56,926	462,631	482,750
Creditors: Amounts Falling Due Within One Year	14	(7,286 )	-	(7,286 )	(12,338 )

NET CURRENT ASSETS (LIABILITIES)		398,419	56,926	455,345	470,412

TOTAL ASSETS LESS CURRENT LIABILITIES		1,175,101	1,208,156	2,383,257	2,311,910

NET ASSETS		1,175,101	1,208,156	2,383,257	2,311,910

FUNDS OF THE CHARITY
Restricted Funds				1,208,156	1,136,809
Unrestricted Funds				1,175,101	1,175,101

TOTAL FUNDS	15			2,383,257	2,311,910

For the year ending 31 December 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

On behalf of the board

Jeremy Randall

Trustee

14/09/2026

The notes on pages 9 to 15 form part of these financial statements.

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The charitable company is a Public Benefit Entity as defined by FRS 102.

1.2. Going Concern Disclosure

The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern.

1.3. Incoming Resources

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.

1.4. Resources Expended

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.

1.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Nil
Fixtures & Fittings	30% on reducing balance
Computer Equipment	25% on cost

No depreciation is provided on freehold properties. Freehold properties comprise freehold land which is considered to have an indefinitely long useful life, and buildings which are considered to have very long useful lives.

1.6. Investments

Investments are valued at market value.

1.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

1.8. Taxation

The charity is exempt from tax as all its income is charitable and applied for charitable purposes.

1.9. 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 or relate to assets with conditions attached. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. Income from Charitable Activities

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	2025	2024
	Unrestricted funds £	Unrestricted funds £
Wendover House resident's accommodation	122,883	134,657

Wendover is income received from Resident's charges.

3. Investment Income

	2025	2024
	Unrestricted	Unrestricted
	funds	funds
	£	£
Bank interest receivable	18,511	21,652

4. Net Income/(Expenditure)

The net expenditure is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible fixed assets - owned	1,972	1,394

5. Analysis of Expenditure

	2025
	Support costs (see note 6 )
	£
Administration	65,128
Wendover House resident's accommodation	120,239

	185,367

	2024
	Support costs (see note 6 )
	£
Raising funds	(1 )
Administration	74,108
Wendover House resident's accommodation	110,529

	184,636

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Support Costs

			2025
	Administration	Wendover House resident's accommodation	Total
	£	£	£
Employee costs	45,264	76,411	121,675
Premises expenses	-	39,418	39,418
General administration	17,892	4,410	22,302
Depreciation	1,972	-	1,972

	65,128	120,239	185,367

				2024
	Raising funds	Administration	Wendover House resident's accommodation	Total
	£	£	£	£
Employee costs	-	54,048	63,216	117,264
Premises expenses	-	364	46,406	46,770
General administration	(1)	18,302	907	19,208
Depreciation	-	1,394	-	1,394

	(1 )	74,108	110,529	184,636

7. Independent Examiner's Remuneration

	2025	2024
	£	£
Independent examination of the financial statements	2,994	2,994

8. Staff Costs

Staff costs were as follows:

	2025	2024
	£	£
Wages and salaries	118,997	114,656

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

9. Average Number of Employees

Average number of employees during the year was as follows:

	2025	2024
Charitable Activities	7	6
Administration	2	3

	9	9

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

10. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	728,659	62,957	3,806	795,422
Additions	-	3,166	-	3,166

As at 31 December 2025	728,659	66,123	3,806	798,588

Depreciation
As at 1 January 2025	-	60,536	3,271	63,807
Provided during the period	-	1,676	296	1,972

As at 31 December 2025	-	62,212	3,567	65,779

Net Book Value
As at 31 December 2025	728,659	3,911	239	732,809

As at 1 January 2025	728,659	2,421	535	731,615

11. Investments

	Listed
	£
Cost or Valuation
As at 1 January 2025	1,109,883
Disposals	(30,000 )
Revaluations	115,220

As at 31 December 2025	1,195,103

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	1,195,103

As at 1 January 2025	1,109,883

There were no investment assets outside the UK. The investments consist of managed portfolios.

12. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	(102 )
Other debtors	13,661	15,909

	13,661	15,807

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

13. Current Asset Investments

	2025	2024
	£	£
Short term deposits	325,003	406,058

Current asset investments represent short-term deposits. There were no investment assets outside the UK.

14. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,022	6,566
Other creditors	639	1,216
Accruals and deferred income	4,625	4,556

	7,286	12,338

15. Movement in Funds

	As at 1 January 2025	Net movement in funds	Transfers	As at 31 December 2025
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	1,145,005	(43,873)	43,873	1,145,005
Designated:
Equipment replacement	30,000	-	-	30,000
Repairs fund	96	-	-	96

	30,096	-	-	30,096


Total unrestricted funds	1,175,101	(43,873)	43,873	1,175,101


Restricted funds
Cooper Memorial	1,136,809	115,220	(43,873 )	1,208,156


Total funds	2,311,910	71,347	-	2,383,257

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

	Income	Expenditure	Gains and losses	Net movement in funds
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	141,494	(185,367 )	-	(43,873)

...CONTINUED

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Designated:
Equipment replacement	-	-	-	-
Repairs fund	-	-	-	-

	-	-	-	-


Total unrestricted funds	141,494	(185,367 )	-	(43,873)


Restricted funds
Cooper Memorial	-	-	115,220	115,220


Total funds	141,494	(185,367 )	115,220	71,347

	As at 1 January 2024	Net movement in funds	Transfers	As at 31 December 2024
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	1,145,005	(28,070)	28,070	1,145,005
Designated:
Equipment replacement	30,000	-	-	30,000
Repairs fund	96	-	-	96

	30,096	-	-	30,096


Total unrestricted funds	1,175,101	(28,070)	28,070	1,175,101


Restricted funds
Cooper Memorial	1,100,000	64,879	(28,070 )	1,136,809


Total funds	2,275,101	36,809	-	2,311,910

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

	Income	Expenditure	Gains and losses	Net movement in funds
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	156,309	(184,379 )	-	(28,070)
Designated:
Equipment replacement	-	-	-	-
Repairs fund	-	-	-	-

	-	-	-	-


Total unrestricted funds	156,309	(184,379 )	-	(28,070)

...CONTINUED

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ABBEYFIELD EWELL SOCIETY LIMITED(THE)

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Restricted funds
Cooper Memorial	-	(257 )	65,136	64,879


Total funds	156,309	(184,636 )	65,136	36,809

During 2010, the Charity received a substantial legacy, a part of which consisted of an endowment of freehold land and buildings named "Fircroft". There was a wish expressed that the legacy be used for the benefit of elderly people living or having a family connection with Ewell and the surrounding area.

The fund was renamed "The Cooper Memorial Fund" and following issues with under-occupancy, the charity realised a gain from the legacy and invested the proceeds in managed investment funds.

The income arising from those funds continues to be utilised to support the other activities undertaken by the Charity which fulfil the wish expressed by the late donor.

16. Transactions with Trustees

The trustees are considered to be the key management personnel of the charity. No remuneration, expenses, nor other employee benefits were received by the key management personnel during the year (2024: £nil).

No trustee expenses have been incurred.

17. Related Party Disclosures

There were no related party transactions for the year ended 31st December 2025.

18. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £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.

They are:

Reinvestment 0% (2024: 0%)
New Supply Delivered 0% (2024: 0%)
Gearing -62% (2024: -64%)
Headline Social Housing Cost £183,396 (2024: £183,243)
Operating Margin -35% (2024: -21%)
Return on Capital Employed -4% (2024: -2%).
EBITA MRI Interest Cover*

*The Society does not incur finance costs and did not acquire new housing units in either the current or prior period, therefore the interest cover ratio is n/a and reinvestment is 0%.

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