2022-03-31-accounts

			Page
Chairman's	Statement		1 —2
Trustees'	Report		3 —16
Statement	ofTrustees'	Responsibilities	17
Independent Auditors'		Report	18 —21
Statement	of Financial	Activities	22 —23
Balance Sheet			24
Statement	of Cash Flows		25
Notes to the Accounts			26-39

Matthew Robert D	e	Com an	Director			04/08/2016
Phili B.Woodman		Accountant				26/09/2012	26/09/2022
Lisa Waterman&I	ow	Communications		Director		30/06/2015
Ma Grrlnth-Jones		Retired Social Worker				27/09/2017
Owen Evans		Charity CEO				27/03/2019
David Rankin		Accountant				23 09 2020
Michael Scott		Retired				23 09 2020
Paul Anderson		Social Worker				26 0 2021
Jennifer O'Connell		Lawyer				21/09/202 1
Tom Bin am		Marketin	and Communications		Director.	30 1 2021
Martine Bond		Banker				27/09/2017	30/04/2021
Andrew White		Com an	Director			27/03/2019	23/09/2021

P.B.Woodman	P.B.Woodman	(Chair —resigned 20&	(Chair —resigned 20&	M. Griffith-Jones	M. Griffith-Jones	(Chair)
September 2022).				D Rankin
M. Bond	(resigned		30w April 2021)	P Anderson	(from	26& January 2021)
M Scott	(Chair	20'"	September 2022)	T Bingham	(from	September 2021)
0 Evans
D Rankin	(from	19v' October 2021)

		There are two new advisors and members have:-
		~ Sat on four different interview panels.
		t d h I TACTBT ffh ACI h Ith ~hi t C
		~ Sat on a TACT Fostering Panel as a care experienced and policy expert.
		~ Met with TACT Trustees to give insight into TACT Connect and the care
		experience.
		~ Met with Area Teams to give insight into TACT Connect and the		care
		experience.
		~ Written and publicly published an article about ~sti ma.
		~ Met with older care experienced adults to explore their views on being
		heard.
		~ Attended English Care Review events and other training events		to ensure
		that views are shared from a member's perspective.
		~ Participated in and hosted our Young Voices Participation	Events.
		~ Co-produced all aspects ofthe TACT Connect scheme.
Strategic	Fundraising. To increase levels offundraised income to provide additional			resources		for
Objective 2	investment and innovation and cover the costs ofservices we provide that are not				within
	our	core contractual fees.
Achievement	~	During the year we received f167,000(2020/21: 135,000)ofgrants		and
		donations to support our charitable activities
	~	Restricted income totaled 5129,000and the remainin 531,000	was	unrestricted.
Strategic	Carer Recruitment and Retention. To be the agency of choice for		foster carers			by
Objective 3	providing them with highly skilled social work support, training and		competitive			fee
	levels that reco nise carers contributions in supportin oun people.
Achievement	~	Average 78%improvement in timescales across the carer recruitment		journey
		stages
	~	Conversion from enquiry to assessment increased from 0.62% baseline to 1%in
		line with targets
	~	A lower unit cost per enquiry —reduction of37%
	~	Website search visibility for TACT increased to4.75%up from 1.94%
	~	Review of recruitment processes and an upgrade to a new system	that	will reduce
		manual processes.
	~	Review ofcarer offer to improve attractiveness ofTACT as an agency.
	~	Improved core training and preparation for applicants to ensure they are
		'placement ready'.
	~	Increased carer payments and fees for enhanced placements.
	~	Harmonised birthday and festival payments for all children across	a e	ran es
Strategic	Our	People. To invest in our people through training, wellbeing, career	development,
Objective 4	reward and systems and processes to support them in delivering excellent			levels of
	support to our foster carers and young people.
Achievement	~	Best Companies Top 100Not For Profit Organisations to Work for	—Achieved		Two
		Star Status, which equates outstanding levels ofemployee engagement.
	~	Staff Turnover as at June 2022 is12.3%. Employee retention rate at90.9%and
		average length ofService 7years.
	~	Low sickness absence (5%lost time rate) and TOIL balances.
		23.2%ofvacancies filled lnternall

(A COMPANY LI	MI	TED BYGUARANTEE)
TRUSTEES' REPORT
		No formal disciplinary or grievances since 2020
		Anti-Racist Survey 2022- 2%ofstaff members report recently experiencing racial
		harassment at work. On average, across all respondents, ethnic minority staff do
		not feel their ethnicity is a significant barrier to feeling included at work. High
		levels of racial diversity amongst entry level/junior staff.
		Further developed our well established and embedded Wellbeing Program for all
		Staff and introduced a core wellbeing offer to all Foster Carers.
		We started a relationship with "Fostering Training" on March 1st, 2021.Since
		then, we have had over 2,700courses completed by foster carers and currently
		have 592 live accounts and feedback has been overwhelmingly positive.
		Compliance training -99%in 2021.
		FASD training offered to a total of5 online sessions open to all staff (not just
		Social Workers, although one ofthe events was specifically for Independent
		Assessors) in July/August/Sept 2021.20 attended on average across the 5
		events.
Strategic	Finance and Business Development. To achieve a surplus year on year that can be			re-
Objective 5	invested in the charity
Achievement	~	The charity returned to surplus in the year and ended the year with a reported
	~	surplus of61.202M and a balance sheet totalfunds position ofZ6.071M. During the year, we committed to investment of$1.3M in foster carer pay, staff
		pay, expansion ofthe Education service and foster carer capacity, with circa 61M
		expended in the year.
	~	Average weekly fee for our services increased by4.1%in the year as we
		continued renegotiation ofsome historical placements and introduction of new
		pricing on retendered frameworks.
	~	I evels of Free Reserves are at 88%ofthe targets set by Trustees (see reserves
		policy on page 13for detailed explanation of reserves). It isforecast that target
		levels offree reserves will be achieved within the next 12 months.
Strategic	Innovation. To be innovative in our approaches and act as a driver for change in		the
Objective 6	sector.
Achievement	~	Commenced working with Welsh Commissioners and the non-profit sector in
		delivering a partnership approach to LAC in North Wales comprising residential,
		step forward and fostering
	~	Building on the undoubted success of our education service we have developed
		plans for a dedicated Health Service and an Employment Service. We have recruited
		a very experienced child health professional who will begin work in 2022/23	and
		aim to ensure that our children, young people and care experienced adults have
		access tothe health support and services they require. As with education, there	are
		resources within the health service dedicated to support children in care and we	will
		unlock these to improve outcomes for our children and young people. The service
		will also support our care experienced adults. We are also seeking to launch		an
		employment service and our treasurer has agreed to take the role of Employment
		Ambassador .We will seek to build a portfolio of partner companies who will offer
		our young people work experience, internship & employment opportunities.	Our
		Education Service, Connect and our foster carers will support our young people		to
		take advanta eofthese opportunities.

FOR THE YEAR ENDI	NG 31MA	RCH 2022
						Total	Total
				Unrestricted	Restricted	funds	funds
			Note	funds	funds	2022	2021
				f'000	8'000		f'000
Income from:
Donations
Charitable activities			2	25,247	129	25,376	25,525
Other income				51		51	39
Furlough Income				5		5	29
Total income				25,303	136	25,439	25,597
Expenditure on:
Raising funds:
Costs ofgenerating	donations			98		98	91
Charitable activities:
Foster care				23,971	129	24,100	23,789
Campaigning, policy,	and research			39		39	30
Total expenditure			3	24,108	129	24,237	23,910
Net Income and net	movement	in funds		1,195	7	1,202	1,687
Reconciliation offunds:
Total funds brought	forward		14	4,802	67	4,869	3,182
Total funds carried forward				5,997	74	6,071	4,869

rior year comparative	s
				Unrestricted	Restncted	Total
				funds	funds	funds
			Note			2021
				8'000	J'000	6'000
Income from:
Donations					4	4
Chantable activities				25,407	118	25,525
Other income				39		39
Furlough Income				29		29
Investments
Total income				25,475	122	25,597
Expenditure on:
Raising funds:
Costs of generating	donations			91		91
Charitable activities:
Foster care				23,671	118	23,789
Campaigning, policy,	and research			30		30
Total expenditure				23,792	118	23,910
Net income and net	movement	in funds		1,683	4	1,687
Reconciliation offunds:
Total funds brought	forward		14	3,119	63	3,182
Total funds carried forward				4,802	67	4,869

OR THE YEAR ENDED 3	1MARCH 2	022
			Note	2022	2021
				5'000	y.'000
Cash flows from operating	activities		17	959	3,003
Cash flows from investing	activities:
Proceeds from the sale	of property				24
Change in cash and cash	equivalents	in the year		959	3,027
Cash and cash equivalents	atthe beginning cfthe year			5,001	1,974
Cash and cash equivalents	at the end	ofthe year			5,001

		funds	funds		funds	funds
		2022	2022	2022	2021	2021	2021
		6'000	f.'000	6'000	6'000	f.'000	6'000
Fostering	Fees	25,216		25,216	25,390		25,390
Grants		31	129	160	17	118	135
		25,247	129	25,376	25,407	118	25,525

er Incom	e
		2022	2021
		g'000	OOOO
Net gain	on disposals offixed assets		4
Furlough	Income	5	29
Other income		51	35
		56

			2022	2021
			f'000	f'000
Depreciation			14	15
Auditor's	remuneration	—audit services	29	26
Auditor's	remuneration	—other services
Operating	lease charges		99	420

			2022	2021
			f'000	f,'000
Wages and	salaries		6,651	5,929
Social secunty costs			644	578
Pension			246	226
Redundancy	and termination	costs	18	72
			7,559	6,805

2022	2021
Number	Number

e average m	onthly	head	count ofemployees during th	e year was as follows:
				2022	2021
				Number	Number
Fundraising				2	2
Fostering				99	100
Campaigning,	policy,	and	research	1	1
Support				89	81
				191	184

								2022	2021
								OOOO	g'000
Contributions	payable	by	the	company	for	the	year	246	226

ngible fixed assets
			Fixtures,
	Freehold	Leasehold	fittings,
	land and	land and	and
	buildings	buildings	equipment	Total
	g'000	g'000	g'000	g'000
As at 1April 2021	461		11	814
Asat31March 2022	461	342		814
Depreciation:
As at 1April 2021	161	117	11	289
On disposals
Charge for year	9	5		14
Asat31March 2022	170		11	303
Net book value
As at31March 2022	291	220		511
As at31March 2021	300	225		525

FOR THE YEAR ENDED 11.Debtors	31	MARCH 2022
			2022	2021
			&000	6'000
Trade debtors			3,003	2,677
Other debtors			95	124
Prepayments and accrued income			238	180
			3,336	2,981
12.Creditors: amounts	falling due within one year
			2022	2021
			OOOO	g'000
Trade creditors			381	147
Taxation and social	security costs		182	153
Other creditors			245	160
Accruals and deferred		income	2,796	2,749
Termination costs			132	429
			3,736	3,638
13.Deferred income
			2022	2021
			g'000	OOOO
Brought forward			171	90
Released in the year			(222)	(67)
Recognised in year			236	149
Carried forward			185	172

					Balance	Transfers
					asst 1	between	Income			Balance as
					April	Funds	and	Expenditure		at31March
					2021		gains	and	losses		2022
					g'000	$000's	g'000		g'000		&000
Restricted	income	funds
Donations	for children's			activities			7				74
Children in	Need grant						8		(8)
Confidence	in Care		grant				4		(4)
Skills to Care							9		(9)
Big Lottery	Fund						73		(73)
Lord Laming							4		(4)
Covid Grant							18		(18)
Murgatroyd	Foundation						13		13
Total restricted income funds							136		(129)		74
Unrestricted	funds
General	funds				3,574		25,303	(24,108)			4,769
Designated funds
o	Capital		Fund		1,200						1,200
o	Adoption		Fund		28						28
Total unrestricted		funds			4,802		25,303	(24,108)			5,997
Total funds					4,869		25,439	(24,237)			6,071
Movement	in funds (prior year)				Balance as	Transfers	Income	Expenditure		Balance as
					at1April	between	and gains	and losses		at	31March
					2020	Funds					2021
							g'000		&000		&000
Restricted	income	funds
Donations for children's				activities			4				67
Children in	Need grant						22		(22)
Confidence	in Care		grant				43		(43)
Skills to Care							6		(6)
Big Lottery	Fund						47		(47)
Total restricted income funds					63		122		(118)		67
Unrestricted	funds
General	funds				1,891		25,475	(23,792)			3,574
Designated funds
o	Capital		Fund		1,200						1,200
o	Adoption		Fund		28						28
Total unrestricted		funds			3,119		25,475	(23,792)			4,802
Total funds					3,182		25,597	(23,910)			4,869

nd balan	ces at31March 2022 are represen	ted by:
		Unrestricted	Restricted	Total
		funds	funds	Funds
		2022	2022	2022
		5'000	&000	&000
Tangible	fixed assets	511		511
Current	assets	9,222	74	9,296
Creditors	ofless than one year	(3,736)		(3,736)
		5,997	74	6,071

nd balan	ces at31March 2021were repres	ented by:
		Unrestricted	Restricted	Total
		funds	funds	Funds
		2021	2021	2021
		g'000	5'000	5'000
Tangible	fixed assets	525		525
Current	assets	7,915	67	7,982
Creditors	ofless than one year	(3,638)		(3,638)
		4,802	67	4,869

					Property		Equipment
					2022	2021	2022	2021
					g'000	OOOO	g'000	OOOO
Expiry date:
Within one year					14	102	14	73
Between two and	five	years				15		20
					14	117	14	93
e following lease	payments		were recognised as an		expense during	the year:
							2022	2021
							OOOO	9'000
Land and buildings							66	344
Equipment							33	76
							99	420
econciliation ofcashflows from operating				activities
							2022	2021
							5'000	9'000
Net (expenditure)	/ income for the reporting			period			1,202	1,687
Depreciation charges							14	15
Loss/ (profit) on sale		offixed assets						(4)
(Increase) / decrease		in debtors					(355)	1,344
Increase / (decrease)		in creditors					98	-39
Net cash provided	by/	(used	in) operating activities				959	3,003