Coram Intercountry
Adoption Centre Ltd
Annual Report and Financial
Statements
Year ended 31 March 2025
ompany Limited by Guarant
egistration Number 03344762 (England and Wale
Charity Registration Number
1067313

Contents
Reports
Reference and administrative details
Chair's statement
Trustees' report
Independent auditor's report
1
2
3
14
Financial statements
Statement of financial activities
Balance sheet
Statement of cash flows
Principal accounting policies
Notes to the financial statements
19
20
21
22
26
Appendix
Comparative statement of
financial activities
Comparative notes to the
financial statements
32
33
Coram Intercountry Adoption Centre Lta

Reference and administrative details
Patron
Trustees
Company Secretary
Senior Management Team
Managing Director
Company Registration Number
Charity Registration Number
Registered office
Auditor
Bankers
Her Majesty The Queen
Anastasia Ansell
Pascale Erseel
David Gray
Barbara Hudson (Chair)
Zoe Lambert
James McDougall
Padmini Mistry
Dr Carol Homden CBE
Ms. Irene Levine
03344762 (England and Wales)
1067313
Coram Campus
41 Brunswick Square
London
WC1N 1AZ
Buzzacott Audit LLP
130 Wood Street
London
EC2V 6DL
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Metro Bank
One Southampton Row
London
WC1B 5HA
Nat West Bank
94 Moorgate
London
EC2M 6UR
Coram Intercountry Adoption Centre Ltd 1

Chair's Statement Year ended 31 March 2025
In April/May 2024, Coram Intercountry Adoption Centre had an Ofsted inspection, the first
since 2020 and was again judged as outstanding in all three categories. These are Overall
experiences and progress of service users, taking account of how well children, young people
and adults are helped and protected; and the effectiveness of leaders and managers'. We
have a proud record of being judged 'outstanding' four times in a row, covering ten years.
Ensuring the consistent high quality of such specialist support is only possible because of the
dedication and skill of our social workers, panel members and trustees and the support and
trust of regional adoption agency colleagues who trust us to deliver their service.
The year has been distinctive for some staff departures but we have now been able to recruit
to most of the vacant posts and are reaping the benefits of having new managers and
workforce with new energy and ideas.
I am pleased to welcome three new Trustees, who I am delighted to welcome to the Board.
Sadly one Trustee, Nick Sieve, who resigned due to ill health in October 2024, has since
passed away. He is sorely missed, and we are very grateful for his support and contribution,
especially through the Covid period and the transition into the Coram Group. In addition
Gabrielle Shaw resigned last month and we also thank her for significant contribution
throughout her 7 years as a Trustee, particularly through the Covid and transition periods.
We have also completed the last stages of integration into the Coram Group, enabling greater
resilience in systems and gains from the support of central services, providing essential
support as we work to address the challenges faced by children and families.
I am delighted to report that through meeting the targets Coram IAC had set itself and through
making more domestic adoption placements, alongside our intercountry adoptions we have
been able to end the year with a surplus which has started to strengthen our financial position.
The complexity of international adoption, understanding cultural identity and heritage support
means that the specialist expertise of Coram IAC continues to have a vital role in both the UK
and global context. This has been demonstrated by our ground-breaking conference on
intersectional needs when we hosted the EurAdopt community of organisations, in April 2024
the first time it has been held in the UK
We look to the future with confidence and commitment as we play our full part in the
international and national community of adoption agencies and contribute to the vision of the
Coran group to ensure better chances for children, now and in the future.
Barbar Audia
Barbara Hudson
16 September 2025
Coram Intercountry Adoption Centre Ltd 2

Trustees' report Year ended 31 March 2025
The Trustees, who are the directors for company law purposes, present their report and
financial statements of Coram Intercountry Adoption Centre (Coram IAC) for the year ended
31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set
out on pages 22 to 25 and comply with the charitable company's Memorandum and Articles
of Association, applicable law and Accounting and Reporting by Charities: Statement of
Recommended Practice (the Charities SORP) applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland (FRS 102).
This report has been prepared in accordance with Part VIll of the Charities Act 2011.
Scope of the financial statements
The annual report and financial statements are in respect to Coram IAC as a stand-alone
charity only.
Coram IAC is part of the Coram Group. The Thomas Coram Foundation for Children (Coram),
Registered Charity No. 312278, which is the ultimate controlling party, consolidates the
financial statements of Coram IAC with its own and those of other group members.
Intercountry Adoption Centre (IAC), T/A IAC - The Centre for Adoption, became Coram IAC,
when it joined the Coram Group on 1 July 2023, retaining the same charity, Ofsted Registration
and company numbers. Comparative figures are for the 9 months ended 31st March 2024.
Objectives & Activities
Coram IAC is a unique Voluntary Adoption Agency (VAA) in the UK, being the only one with
a specialist and primary focus on the provision of intercountry adoption services, and the only
one to have been accredited by authorities in States of origin from which children are placed.
Judged Outstanding by Ofsted in its last inspection, Coram IAC provides information, advice,
preparation, assessment, and support for the general public through subscription and service
level agreements with their home local authorities.
Prospective adopters are provided with training and are required to undertake a number of
checks and a vigorous assessment process to confirm they are suitable to adopt. Once
approved they are supported through the matching and placement process with specific
children from across the world, including the UK.
The charity is accredited as an Adoption Agency by the central adoption authorities of India,
and the Philippines; and has a Working Agreement with South Africa. The Agency functions
as a foreign adoption partner agency in respect of these three countries.
China stopped all intercountry adoptions during the pandemic and did not resume their special
needs intercountry adoption programme after it ended. They have now officially closed all
intercountry adoption programmes and the Coram IAC Country Programme for Special Needs
Children from China has therefore also now closed.
Coram Intercountry Adoption Centre Ltd 3

Trustees' report Year ended 31 March 2025
Objectives & Activities (continued)
Applicants are free to adopt from whichever country they choose, so long as:
i.
ii.
iii.
iv.
they meet the eligibility criteria of that country,
they meet the eligibility criteria of England,
they are approved as suitable to adopt in this country and
the country is not closed to the UK and there is a legitimate route to process the
adoption with the sending country.
Over 94% (Department for Education data) of all overseas adoptions in England are now
conducted through Coram IAC. Whilst the charity is situated in England and works closely
with the government of England, it has good working relationships with the governments of
Scotland, Wales and Northern Ireland.
Coram IAC is the lead agency in the Intercountry Regional Adoption Agency (ICRAA) for
England which launched in November 2017. IAC works collaboratively under bilateral
agreements with other VAAs to deliver intercountry adoption services across England. These
arrangements will be reviewed during 2025/26 and hopefully extended to include other VAAs
in this collaborative way of working.
Coram IAC continues to offer services to regional adoption agencies (RAAs) in England
through service level agreements, and to local authorities in Wales through subscription
services. The charity provides adoption support services to adoptive parents and their children
directly, and through arrangements with other adoption agencies and adoption support
agencies. It aims to deliver excellence across all services and during the financial year has
continued to raise funds to expand these support services. This work backs the agency's
ethos, adoption is for life, and so is Coram IAC's support.
Coram IAC networks with and informs and advises relevant government departments in
furtherance of its objects and in pursuit of improved services for those affected by adoption
and permanence, particularly internationally. As members of CVAA UK, the consortium of
voluntary adoption agencies, Coram IAC's position is strengthened through collaboration and
collective voices.
Coram IAC has also forged links abroad which inform and enhance the intercountry adoption
work of the Agency. Coram IAC aims to achieve the best outcomes for all children who are
placed for adoption. Coram IAC is a member of the EurAdopt Council, and hosted the
EurAdopt Conference in April 2024.
Coram IAC's information and advice line service for adoptive families, adopted people and
adoption and permanence professionals is supported by a sound information database and
appropriately qualified and experienced advisors and facilitators, some of whom have
personal experience of adoption.
Coram Intercountry Adoption Centre Ltd 4

Trustees' report Year ended 31 March 2025
Objectives & Activities (continued)
Coram IAC's service level agreements offer the following for local authorities and regional
adoption agencies:
• Access to advice lines for prospective adopters, social workers and other professionals
seeking information, advice and consultation. The services are supported by a database
of relevant background information on sending and receiving States and the legal routes
to permanence for children looked after by local authorities in England.
Information packs and service charges, country fact sheets and guides.
• Procedural guides of different legal pathways to permanence in and out of the UK
• Leaflets for the preparation of the relatives or "connected people" with whom a child is to
be placed.
• Specialist preparation courses of prospective intercountry adopter and domestic
adopters. Including Kinship Adoption, Sibling Placements, identified children, Blended
Families and Transracial Adoption.
• Adoption Support Services for families and their children, including Annual Adoption Fun
Day for families, range of support groups, workshops, groups for children, books written
for children to prepare them for moving, life story work and consultations.
• Bulletins, country fact sheets and other materials, including intercountry adoption child
medical & development forms.
• Practitioners' network to provide a forum for discussion, debate and peer support.
• Intercountry adoption consultation and training for their adoption professionals and
adoption panel members (including legal and medical advisors)
Coram IAC's services aim to ensure that the potential life-long needs of all children placed for
adoption and permanence are understood, and that the ethnic, cultural, religious and linguistic
heritage of the children is fully recognised and positively valued.
The services are also informed by the outcomes of research, by practice wisdom, by the
perspectives of all parties to the adoption circle and by training which the agency provides for
its workforce. With almost all children being placed by Coram IAC being of Black, Asian or
Minority Ethnic backgrounds, the need to deliver services that are non-discriminatory and anti-
racist is a high priority. Particular regard is given to Coram IAC's workforce being
representative of the children and families the charity seeks to serve.
Public benefit
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission
on determining the activities undertaken by the Charity.
Coram Intercountry Adoption Centre Ltd 5

Trustees' report Year ended 31 March 2025
Achievements & Performance 2024-25
The period was characterised by the completion of the amalgamation of Coram IAC into the
Coram Group. Based on a synergy of mission and values, with the joint determination to
improve children's life chances - this partnership has given the charity the opportunity to
deepen and extend its impact in a setting that promotes sustainability.
Prior to joining the Coram Group, in July 2023, IAC went through substantial restructuring to
reduce staffing costs. The staffing structure has remained under constant review to ensure
staff are supported to deliver the services to the high standard the agency is committed to
provide for the adopters and their children. In order to achieve the increase in domestic
placements, the Domestic Team Manager role was reestablished, which has enabled Coram
IAC to achieve an increased surplus for the year, by making 11 domestic adoption placements
against a target of 4.
Despite the staffing challenges Coram IAC has continued to provide a range of preparation
and adoption support Services which are trauma informed and with a therapeutic approach
to all support work embedded in all the training with prospective and approved adopters.
Continuing separate support groups and workshops for Kinship Carers in acknowledgement
of the amplified losses these families may have experienced.
Between 1st April 2024 and 31st March 2025:
• Coram IAC supported 1,399 new enquiries from prospective adopters. 941 follow on
enquiries were received and 1,274 information packs were sent out;
• This led to 188 people attending Information Sessions and 85 households attended an
Initial Interview and 59 families started intercountry adoption assessments.
• 87 prospective adopters and 17 prospective kinship adopters attended preparation
groups. 30 of these had identified children. 41 households were approved as suitable to
adopt intercountry and 6 households changed country to Uk/domestic adoption.
• 49 annual reviews were undertaken. 29 children arrived in the UK after placement with
their families and 11 children were placed with their families via the UK domestic
programme. 45 post placement visits were conducted and reports provided to States of
Origin.
• In addition, 144 local authorities had service level agreements with Coram IAC to run
their full intercountry adoption service and the local authorities in Wales subscribe with
Coram IAC to run their enquiry and information service.
The Board of Trustees wishes to express its continuing thanks and admiration to the entire
workforce, employed, sessional and volunteers, for their continued outstanding
achievements.
The Leadership Team wishes to express its thanks to the Board of Trustees for their
stewardship and support, to Chairs and members of our Adoption Panel, Medical & Legal
Advisors and to all the central services colleagues within the Coram group and to all our RAA
partners who trust the charity to deliver international and domestic adoption services on their
Coram Intercountry Adoption Centre Ltd 6

Trustees' report Year ended 31 March 2025
Risk management
The Board of Trustees has adopted a risk management protocol to assess and mitigate the
major risks to which the charity is exposed. It reviews the risk register annually to assess
recorded risks and any new ones, in particular, those related to the operations and finances
of the charity and ensures that systems are in place to mitigate the charity's exposure to the
major risks.
The risks, which are considered to have the highest potential impact, taking into account
controls, and mitigation plans we have in place, are:
• Loss of a major source of income affecting our ability to achieve full recovery of all costs
of running the charity; and
• Loss of experienced and skilled staff affecting our ability to achieve our objectives; and
• Compromise of our phone or computer systems leading to loss of data or otherwise
affecting our ability to deliver our services.
The risks were satisfactorily managed and no significant operational problems were
encountered during the year.
Risk is mitigated through the following regular actions:
• All major sources of income are monitored regularly by management and quarterly by
trustees for sustainability.
•
Resilient staff resources are planned and emerging leaders in teams are identified and
retained.
• Migration of data to resilient servers with backup solutions has been undertaken with
robust training and monitoring for data security.
Financial review
During the year ended 31 March 2025 total income amounted to £2, 117,400 (9 months ended
31 March 2024 - £1,408,470) and expenditure totalled £1,977,357 (9 months ended 31 March
2024 £1,374,795). The relative increase in income was a result of increased number of
adoption placements and the relative increase in expenditure was mainly due to increased
operational costs due to the increase in adoption placements.
Overall, the unrestricted funds of the charity increased by £149,043 (9 months ended 31
March 2024 - increase of £47,175), and restricted funds decreased by £9,000 (9 months
ended 31 March 2024 - decreased by £13,500). Details of movements in the restricted funds
can be found in note 11 to the financial statements.
All Coram Intercountry Adoption Centre expenditure supports the objectives of the charity as
described above.
Coram Intercountry Adoption Centre Ltd 7

Trustees' report Year ended 31 March 2025
Financial review (continued)
Reserves policy
Coram Intercountry Adoption Centre aims to hold a reserve of three months budgeted
expenditure as its general reserve. This will:
• Allow continued operation in the event of a loss of a major source of funding while a new
source of income is secured or while costs are cut in a considered manner;
• Bridge cash flow challenges resulting from slow payment or bad debt;
• Provide a buffer in the event of making an operational loss in a given financial year (this
use should normally be exceptional rather than planned); and
• Allow investment in specific projects, which will increase our operational effectiveness
and/or sustainability.
At 31 March 2025 our total funds stood at £42,238 (2024 - deficit of £97,805) which included
restricted funds of £10,730 (2024 £19,730) for expenditure on specific projects. General
reserves currently stand at £31,508 compared to a target of £479,801.
Trustees recognise the need to review reserves during 2025/26 to ensure an adequate level
of reserves is achieved. Progress continues to be made towards achieving the targeted level
of reserves by generating a surplus on general funds. The target is to increase the general
funds to the target level within the next three to five years.
Coram IAC is in receipt of a letter of comfort from Coram, indicating that it will provide support
to Coram IAC for at least 12 months from the date of approval of these financial statements.
The trustees consider therefore that there are no material uncertainties affecting the charity's
ability to continue and are able to conclude that is has reasonable expectation that it will be a
going concern for the foreseeable future.
This policy is reviewed annually alongside the production of the annual accounts in order to:
• Ensure that the reserves held are equal to or greater than the minimum level identified;
• Check that the assumptions underlying the policy are still valid and the minimum amount
is still sufficient for its purpose; and
• Agree any action, which may be required to ensure adequate reserves are maintained.
Future Plans
Coram IAC is committed to continue to be involved in the global agenda to modernise
adoption. It shall do this through its own services and through its key stakeholder networks
both in the UK and internationally.
A strong component of the work of the organisation remains around sustainability to ensure
that the charity continues to remain vibrant and active and to meet evolving need and the
numbers of applicants applying to adopt internationally in the UK has remained steady over
the last five years.
Coram Intercountry Adoption Centre Ltd 8

Trustees' report Year ended 31 March 2025
Future Plans (continued)
This is in contrast to the declining numbers of intercountry adoption in other European
countries, many of whom started with far higher numbers of intercountry adoptions often due
to very limited domestic adoptions in their own countries.
The option of domestic adoption shall remain an offer to Coram IAC's approved intercountry
adopters, who are waiting for children to be matched from abroad, where there is a potential
suitable child within the UK. It is notable that all such placements have been non white
children, children with special needs, sibling groups or older children.
With the voices of adopted adults being heard across the world, and the messaging being
conveyed, it is imperative that adoption, as we know and understand it, evolves. Coram lAC
will continue to drive understanding and best practice, as highlighted in EurAdopt Conference,
Coram IAC hosted in April 2024, attended by delegates from all over the world
Coram IAC shall therefore continue to play a distinctive specialist leadership role exploring
and advancing intersectionality in trans-national and cross-cultural families and to develop
further support approaches.
In the 2025/26 financial year, Coram IAC will be conducting comprehensive reviews of the
country programmes in India, South Africa, and the Philippines. Each review will include an
in-country visit to engage directly with central authorities and will include consulting with the
families who have participated in the programmes for feedback. The visit to India took place
in April 2025, followed by South Africa in June 2025, and the Philippines in October 2025.
The aims and objectives for Coram IAC in the 2025/26 financial year have been reviewed and
updated, and are as follows:
• Aim 1: As the sole specialist intercountry adoption agency in the UK, Coram IAC carries
with it a duty to provide services for those wishing to adopt from abroad, and to provide
loving, safe, permanent families for the worlds' most vulnerable children, including those
from the UK where appropriate.
• Aim 2 - A Stronger Identity with the ability to maintain and generate new income streams:
We will maintain a strong identity in order to ensure that our brand represents what we
do clearly and is communicated effectively to key audiences and stakeholders (both UK
wide and internationally) through multiple channels. We will find ways to develop and
grow income through services we can sell, fund raising and/or grant funding.
• Aim 3 - Grow the organisation: We will grow the organisation, expand our current work
and ensure that new services enhance the quality of our life-long service; enabling our
adopters, their children and professionals to become the biggest advocate and
champions of our service.
• Aim 4: To ensure all aspects of our work and working culture are trauma informed to offer
the best opportunities for children and families to shine and thrive
Coram Intercountry Adoption Centre Ltd 9

Trustees' report Year ended 31 March 2025
Structure, governance and management
Coram Intercountry Adoption Centre is a company limited by guarantee and a registered
charity. It was founded as 'Overseas Adoption Helpline' in 1997 and became 'Intercountry
Adoption Centre' in 2005. On 1 July 2023, we adopted a new governing instrument in the
form of revised Memorandum and Articles of Association. Intercountry Adoption Centre
became part of the Coram group and the name changed to 'Coram Intercountry Adoption
Centre.
Our governing body is a Board of Trustees. Candidates for appointment as Trustees are
nominated by the Coram Nominations and Governance Committee for approval by the Boards
of both Coram and Coram Intercountry Adoption Centre.
The Board of Trustees meets several times a year to ensure that Coram Intercountry Adoption
Centre has a clear vision, mission and strategic direction, and to monitor that activities are
focused on achieving them. The Board has oversight of our finances, plans and policies, risk
management and legal and regulatory compliance.
Day-to-day management of Coram Intercountry Adoption Centre is delegated to the Managing
Director who reports to the Coram Chief Executive and is accountable to the Coram
Intercountry Adoption Centre Board of Trustees.
Trustees regularly review the membership of the Board to ensure that the necessary skills
and experiences are in place to allow effective governance, aiming to reflect the diversity of
the UK population. The Governance was further reviewed as part of the amalgamation
process, resulting in the arrangements described above.
Recruitment and training of trustees
Trustees are appointed via the Coram Nominations Committee for a four year term which is
renewable for one further term. The Chair is appointed by the Coram Board from amongst
their number. All new Trustees undergo an induction programme which incorporates a history
of the charity, review of its work including the current challenges faced by the charity, its
governance structure, and their individual roles and responsibilities and have access to
development training.
Board members are drawn from a variety of professional backgrounds relevant to the work of
the charity and the charity has recruited three new trustees which will enhance representation
of diversity at Board level. Sadly one trustee, Nick Sieve, who resigned due to ill health in
October 2024, has since passed. He is sorely missed and we are very grateful for his support
and contribution, especially through the Covid period and the transition into the Coram Group,
in addition Gabrielle Shaw resigned last month and we also thank her for significant
contribution throughout her 7 years as a Trustee, particularly through the Covid and transition
periods.
Coram Intercountry Adoption Centre Ltd 10

Trustees' report Year ended 31 March 2025
Structure, governance and management (continued)
Recruitment and training of trustees (continued)
Trustees are also directors for the purposes of company law. The Trustees who served during
the year and up to the date on which this report was approved were as follows:
Trustees
Anastasia Ansell
Pascale Erseel
David Gray
Barbara Hudson (Chair)
Zoe Lambert
James McDougall
Padmini Mistry
Gabrielle Shaw
Nicholas Sieve
Appointed/Resigned
appointed 19 June 2024
appointed 20 December 2024
appointed 19 June 2024
resigned on 4 September 2025
resigned 6 October 2024
Key management personnel
The Trustees consider that they, together with the Coram Group CEO and Coram IAC
Managing Director, are the key management of the charity in charge of directing and
controlling, running and operating the charity on a day to day basis.
The remuneration of key management personnel is based on an internal assessment of the
scope of the individual role and an individual's performance within that role. Internal
benchmarking is conducted to ensure that remuneration levels within the Coram group are
consistent for the level of responsibilities. Remuneration is agreed by the Coram Group
Directors consisting of the Chief Executive, Chief Finance Officer and the Director of People
and Compliance.
None of the Trustees received any remuneration in connection with their duties as Trustees
or key management of the charity.
Equality, Diversity and Inclusion (EDI)
We realise that being an organisation that is equal, diverse and inclusive is something to
constantly work towards. The commitment to diversity was a strong characteristic in the
results of the Investors in People reaccreditation, which was awarded at Gold Award standard
in 2023, recognising the high level of engagement of staff with strategy and the organisational
values, and its leadership. EDI remains a key priority in our development.
Fundraising
Coram Intercountry Adoption Centre is part of the Coram charitable group, and fundraising
activities are undertaken and assured by the central fundraising department. As the parent
charity, Coram is registered with the Fundraising Regulator and adheres to the Fundraising
Code of Practice. Our Privacy Policy can be found on our website at
www.coram.org.uk/privacy. There were no complaints made to Coram Intercountry Adoption
Centre in the year. If you have any comments or concern, please contact
fundraising@coram.org.uk.
Coram Intercountry Adoption Centre Ltd 11

Trustees' report Year ended 31 March 2025
Statement of Trustees' responsibilities
The Trustees (who are also directors of Coram Intercountry Adoption Centre for the purposes
of company law) are responsible for preparing the Trustees' Report and 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,
which give a true and fair view of the state of affairs of the charitable company and of the
income and expenditure of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
• Select suitable accounting policies and then apply them consistently;
• Observe the method and principles in Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to charities preparing their financial statements in
accordance with the Financial Reporting Standard applicable to the United Kingdom and
Republic of Ireland (FRS 102);
• Make judgements and estimates that are reasonable and prudent;
• State whether applicable United Kingdom Accounting Standards have been followed,
subject to any material departures disclosed and explained in the financial statements;
and
• Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Each of the Trustees confirms that:
• There is no relevant audit information of which the company's auditor is unaware: and
• The Trustee has taken all steps that he/she ought to have taken to make himself/herself
aware of any relevant audit information and to establish that the charitable company's
auditor is aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom
governing the preparation and dissemination of financial statements may differ from
legislation in other jurisdictions.
Coram Intercountry Adoption Centre Ltd 12

Trustees' report Year ended 31 March 2025
Statement of Trustees' responsibilities (continued)
This confirmation is given and should be interpreted in accordance with the provisions of s418
of the Companies Act 2006.
Approved by the Board of Trustees and signed on their behalf by:
Babag Hidar
Chair of Trustees
Date:
16 September 2025
Coram Intercountry Adoption Centre Ltd
| 13

Independent auditor's report Year ended 31 March 2025
Independent auditor's report to the members of Coram Intercountry Adoption Centre
Opinion
We have audited the financial statements of Coram Intercountry Adoption Centre (the
'charitable company') for the year ended 31 March 2025 which comprise the statement of
financial activities, the balance sheet, the statement of cash flows, the principal accounting
policies and the notes to the financial statements. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in
the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
• give a true and fair view of the state of the charitable company's affairs as at 31 March
2025 and of its income and expenditure for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs
(UK)) and applicable law. Our responsibilities under those standards are further described in
the auditor's responsibilities for the audit of the financial statements section of our report. We
are independent of the charitable company in accordance with the ethical requirements that
are relevant to our audit of the financial statements in the UK, including the FRC's Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the charitable company's ability to continue as a going concern for a period of at least twelve
months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.
Coram Intercountry Adoption Centre Ltd 14

Independent auditor's report Year ended 31 March 2025
Other information
The other information comprises the information included in the Annual Report and Financial
Statements, other than the financial statements and our auditor's report thereon. The Trustees
are responsible for the other information contained within the Annual Report and Financial
Statements. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of
assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained
in the course of the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to determine
whether this gives rise to a material misstatement in the financial statements themselves. If,
based on the work we have performed, we conclude that there is a material misstatement of
this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the Trustees' report, which is also the directors' report for the
purposes of company law, for the financial period for which the financial statements are
prepared is consistent with the financial statements; and
• the Trustees' report, which is also the directors' report for the purposes of company law,
has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the
Trustees' report. We have nothing to report in respect of the following matters in relation to
which the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have
not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of Trustees' remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit; or
• the Trustees were not entitled to prepare the financial statements in accordance with the
small companies regime and take advantage of the small companies' exemptions in
preparing the Trustees' report and from the requirement to prepare a strategic report.
Coram Intercountry Adoption Centre Ltd 15

Independent auditor's report Year ended 31 March 2025
Responsibilities of Trustees
As explained more fully in the statement of Trustees' responsibilities contained within the
Trustees' report, the Trustees (who are also the directors of the charitable company for the
purposes of company law) are responsible for the preparation of the financial statements and
for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are
free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the
charitable company's ability to continue as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern basis of accounting unless the Trustees
either intend to liquidate the charitable company or to cease operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to detect material
misstatements in respect of irregularities, including fraud. The extent to which our procedures
are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of
irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the engagement team collectively had the appropriate competence, capabilities and
skills to identify or recognise non-compliance with applicable laws and regulations;
• we obtained an understanding of the legal and regulatory frameworks that are applicable
to the charitable company and determined that the most significant frameworks which
are directly relevant to specific assertions in the financial statements are those that relate
to the reporting framework (Statement of Recommended Practice: Accounting and
Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS
102)), Charities Act 2011, and the Companies Act 2006, and those that relate to
safeguarding;
• we assessed the extent of compliance with the laws and regulations identified above
through making enquiries of management and inspecting legal correspondence; and
• identified laws and regulations were communicated within the audit team regularly and
the team remained alert to instances of non-compliance throughout the audit.
Coram Intercountry Adoption Centre Ltd 16

Independent auditor's report Year ended 31 March 2025
Auditor's responsibilities for the audit of the financial statements (continued)
We assessed the susceptibility of the charitable company's financial statements to material
misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of key management as to where they considered there was
susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance
with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures to identify any unusual or unexpected relationships;
• reviewed journal entries to identify unusual transactions;
• tested the authorisation of expenditure, ensuring expenditure was approved in line with
the charitable company's financial procedures;
• assessed whether judgements and assumptions made in determining the accounting
estimates were indicative of potential bias; and
• investigated the rationale behind significant or unusual transactions, if any.
In response to the risk of irregularities and non-compliance with laws and regulations, we
designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation;
• reviewing the minutes of meetings of those charged with governance; and
• enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed
that laws and regulations are from financial transactions, the less likely it is that we would
become aware of non-compliance. Auditing standards also limit the audit procedures required
to identify non-compliance with laws and regulations to enquiry of the Trustees and other
management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise
from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's
website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's
report.
Coram Intercountry Adoption Centre Ltd 17

Independent auditor's report Year ended 31 March 2025
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance
with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken
so that we might state to the charitable company's members those matters we are required
to state to them in an auditor's report and for no other purpose. To the fullest extent permitted
by law, we do not accept or assume responsibility to anyone other than the charitable
company and the charitable company's members as a body, for our audit work, for this report,
or for the opinions we have formed
Buzzacott Andit 14p
Gumayel Miah (Senior Statutory Auditor)
For and on behalf of Buzzacott Audit LLP, Statutory Auditor
130 Wood Street
19 September 2025
Coram Intercountry Adoption Centre Ltd 18

Statement of financial activities Year ended 31 March 2025
(Incorporating the income and expenditure account)
Unrestricted
funds
Restricted
funds
Total
funds
Year ended
31 March
2025
Notes
Total
funds
9 months
ended
31 March
2024
Income from:
Donations and legacies
Investment income and bank interest
Charitable activities
• Services to adopters
. Services to professionals
Total income
1
46,246
11,437
2
599,859
2 1,459,858
2,117,400
=
46,246
11,437
599,859
1,459,858
2,117,400
13,340
7,759
747,073
640,298
1,408,470
Expenditure on:
Charitable activities
Total expenditure
3_1,968,357
1,968,357
9,000
9,000
1,977,357
1,977,357
1,374,795
1,374,795
Net income/(expenditure) and net
movement in funds
4
149,043
(9,000)
140,043
33,675
Reconciliation of funds:
Total (deficit)/funds brought forward at
31 March 2024
(117,535)
19,730
(97,805)
(131,480)
Total funds/(deficit) carried forward at
31 March 2025
31,508
10,730
42,238
(97,805)
All of the charity's activities derived from continuing operations during the current year and
prior period.
The charity has no recognised gains and losses other than those shown above and therefore
no separate statement of total recognised gains and losses has been presented.
A full comparative statement of financial activities is included in the appendix to these financial
statements.
Coram Intercountry Adoption Centre Ltd 19

Balance sheet 31 March 2025
2025
Fixed assets
Tangible fixed assets
Current assets
Debtors
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due
within one year
Net current assets/ (liabilities)
Total net assets / (liabilities)
The funds of the charity:
Restricted funds
Unrestricted funds:
Total funds / (deficit)
Notes
6
2025
2024
2024
7
8
170,137
398,629
568,766
(526,528)
157,789
448,936
606,725
(704,530)
10
11
42,238
42,238
10,730
31,508
42,238
(97,805)
(97,805)
19,730
(117,535)
(97,805)
Approved and authorised by the Board of Trustees of Coram Intercountry Adoption Centre
Ltd, Company Registration Number 0334762 (England and Wales), and signed on their behalf
by:
Babang thaban
Barbara Hudsor
Chair of Trustees
Date:
16 September 2025
Coram Intercountry Adoption Centre Ltd 20

Statement of cash flows 31 March 2025
Notes
Year 9 months
ended
ended
31 March
31 March
2025
2024
€
Cash flows from operating activities:
Net cash (used in) / provided by operating activities
Cash flows from investing activities:
Investment income and interest received
Net cash provided by investing activities
A
(23,302)
128,391
1437 L
7,759
7,759
Cashflows from financing activities:
Loan repayments
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2024 / 1 July 2023
B
(38,442)
(38,442)
(50,307)
448,936
(27,239)
(27,239)
Cash and cash equivalents at 31 March 2025
B
398,629
108,911
340,025
448,936
Notes to the statement of cash flows for the year to 31 March 2025
A Reconciliation of net income to net cash flows from operating activities
Year
ended
31 March
2025
9 months
ended
31 March
2024
Net income for the year (as per the statement of financial activities)
Adjustments for:
Depreciation charge
Investment income and interest receivable
(Increase) / Decrease in debtors
(Decrease) / Increase in creditors
Net cash used in/provided by operating activities
140,043
(11,437)
(12,348)
(139,560)
(23,302)
33,675
6,799
(7,759)
87,619
8,057
128,391
B
Analysis of cash and cash equivalents
Total cash and cash equivalents: Cash at bank and in hand
2025
E
398,629
2024
448,936
C Analysis of change in net debt
Cash at bank and in hand
Bank loans
At 1
April
2024
448,936
(38,442)
410,494
Other
Cash non-cash
flows
flows
At 31
March
2025
E
(50,307)
398,629
38,442
(11,865)
-
398,629
Coram Intercountry Adoption Centre Ltd 21

Principal accounting policies 31 March 2025
The principal accounting policies adopted, judgements and key sources of estimation
uncertainty in the preparation of the financial statements are laid out below.
Basis of preparation
These financial statements have been prepared for the year ended 31 March 2025 with
comparative information provided in respect to the nine months ended 31 March 2024.
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise stated in the relevant accounting
policies below or the notes to these 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
financial statements in accordance with the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006
and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded to the nearest pound
Critical accounting estimates and areas of judgement
Preparation of the financial statements requires the Trustees and management to make
significant judgements and estimates. The key items in the financial statements where
these judgements and estimates have been made include:
• assessing the adequacy of any provision against doubtful and bad debts; and
estimating future income and expenditure flows for the purposes of assessing going
concern (see below).
Assessment of going concern
The Trustees have assessed whether the use of the going concern assumption is
appropriate in preparing these financial statements. The Trustees have made this
assessment in respect to a period of one year from the date of approval of these financial
statements.
The company continues to have the support of its ultimate parent entity, Coram, which has
given an undertaking to provide financial support if and when needed. Therefore, the
directors of the company have concluded that there are no material uncertainties related to
events or conditions that may cast significant doubt on the ability of the company to continue
as a going concern. Given the undertakings of support, the directors are of the opinion that
the company will have sufficient resources to meet its liabilities as they fall due.
Coram Intercountry Adoption Centre Ltd 22

Principal accounting policies 31 March 2025
Basis of consolidation
Coram Intercountry Adoption Centre is part of a larger group and its ultimate controlling
party, Coram, consolidates the financial statements of Coram Intercountry Adoption Centre
with its own and those of other group members.
Income recognition
Income is recognised in the period in which the charity has entitlement to the income and
the amount can be measured reliably and it is probable that the income will be received
Income is deferred only when the charity has to fulfil conditions before becoming entitled to
it or where the donor or funder has specified that the income is to be expended in a future
accounting period
Income comprises donations, grants, fee and contractual income, interest receivable and
investment income, income from fundraising, and other sundry income.
Grants and donations are recognised when the charity has confirmation of both the amount
and settlement date. In the event of donations and grants pledged but not received, the
amount is accrued for where the receipt is considered probable. In the event that a donation
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
Fee and contract income represents the amounts receivable for the services provided to
clients, excluding value added tax, under contractual obligations, which are performed
gradually over time. Incomplete contracts at the balance sheet date are accounted for by
reference to the fair value of the work performed and amounts due but not received at the
balance sheet date are described in the financial statements as contractual income debtors.
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.
Fee and contract income represents the amounts receivable for the services provided to
clients, excluding value added tax, under contractual obligations, which are performed
gradually over time. Incomplete contracts at the balance sheet date are accounted for by
reference to the fair value of the work performed and amounts due but not received at the
balance sheet date are described in the financial statements as contractual income debtors.
Other income, including income from fundraising, is recognised to the extent that it is
probable that the economic benefits will flow to the charity and the revenue can be reliably
measured
Coram Intercountry Adoption Centre Ltd 23

Principal accounting policies 31 March 2025
Volunteers and donated services and facilities
The value of services provided by volunteers is not incorporated into these financial
statements.
Where services are provided to the charity as a donation that would normally be purchased
from suppliers, this contribution is included in the financial statements as both income and
expenditure at its estimated fair value based on the value of the contribution to the charity.
There were no such donations during the period.
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive
obligation committing the charity to make a payment to a third party, it is probable that a
transfer of economic benefits will be required in settlement and the amount of the obligation
can be measured reliably.
All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs
and support costs. All expenses, including support costs, are allocated or apportioned to the
applicable expenditure headings. The classification between activities is as follows:
• Expenditure on raising funds includes all expenditure associated with generating
voluntary income for the charity.
• Expenditure on charitable activities includes all costs associated with furthering the
charitable purposes of the charity through the provision of its charitable activities. Such
costs include direct and indirect expenditure on the provision of advocacy services and
on policy and campaigning activities.
All expenditure is stated inclusive of irrecoverable VAT.
Allocation of support and governance costs
Support costs represent indirect charitable expenditure. In order to carry out the primary
purposes of the charity it is necessary to provide support in the form of personnel
development, financial procedures, provision of office services and equipment and a
suitable working environment.
Governance costs comprise the costs involving the public accountability of the charity
(including audit costs) and costs in respect to its compliance with regulation and good
practice. Governance costs are included as a specific category within support costs.
Support costs are allocated to expenditure on charitable activities in the same proportion as
the direct costs of each activity.
Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
Coram Intercountry Adoption Centre Ltd 24

Principal accounting policies 31 March 2025
Tangible fixed assets
All assets costing more than £2,500 and with an expected useful life exceeding one year
are capitalised and stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of the assets, less their estimated residual value, over their
expected useful lives on the following bases:
• Fixtures and fittings - 25% straight line
Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability.
Prepayments are valued at the amount prepaid. They have been discounted to the present
value of the future cash receipt where such discounting is material.
Cash at bank and in hand and short term deposits
Cash at bank and in hand represents such accounts and instruments that are available on
demand or have a maturity of less than three months from the date of acquisition. Deposits
for more than three months but less than one year have been disclosed as short term
deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset
investment.
Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet
date as a result of a past event, it is probable that a transfer of economic benefit will be
required in settlement, and the amount of the settlement can be estimated reliably. Creditors
and provisions are recognised at the amount the charity anticipates it will pay to settle the
debt. They have been discounted to the present value of the future cash payment where
such discounting is material.
Fund accounting
Restricted funds are to be used for specified purposes as laid down by the donor.
Expenditure which meets these criteria is charged to the fund, together with a fair allocation
of management and support costs.
The tangible fixed assets fund represents the net book value of the tangible fixed assets
used for the support of the work of the charity.
Unrestricted funds are donations and other income received or generated for the objects of
the charity without further specified purpose and are available as general funds.
Pensions
Contributions to employees' personal pension plans and defined contribution pension
schemes are charged to the statement of financial activities when they are payable to the
plan or scheme. The charity has no liability beyond making its contributions and paying
across the deductions for the employees' contributions.
Coram Intercountry Adoption Centre Ltd 25

Notes to the financial statements for the period ended 31 March 2025
1 Income from donations and legacies
Unrestricted
funds
46,246
46,246
Restricted
funds
Year ended
31 March
2025
Total
funds
46,246
46,246
9 months
ended
31 March
2024
Total
funds
13,340
13,340
Donations
2 Income from charitable activities
Unrestricted
funds
599,859
1,459,858
2,059,717
Restricted
funds
Year 9 months
ended
ended
31 March
31 March
2025
2024
Total
Total
funds
€
funde
=.
599,859
747,073
1,459,858
640,298
2,059,717
1,387,371
Services to adopters
Services to professionals
Total charitable activities
3 Expenditure
Services to adopters
Services to professionals
Total charitable activities 2025
Direct
costs
€
461,183
999,050
1,460,233
Support
and
manage-
ment
353,799
163,325
517,124
Year
ended
31 March
2025
Total
814,982
1,162,375
1,977,357
Support costs have been allocated in line with the direct expenditure incurred.
9 months
ended
31 March
2024
Total
740,301
634,494
1,374,795
4 Net income and net movement in funds
This is stated after charging:
Staff costs (note 5)
Auditor's remuneration (excluding VAT)
Depreciation (Note 6)
Year
ended
31 March
2025
1,457,355
10,465
-
9 months
ended
31 March
2024
1,027,720
11,500
6,799
Coram Intercountry Adoption Centre Ltd 26

Notes to the financial statements for the period ended 31 March 2025
5 Staff costs
Staff costs during the year were as follows:
Year
ended
31 March
2025
9 months
ended
31 March
2024
Salaries and wages
Social security costs
Pension contributions
1,330,872
89,284
37,199
1,457,355
933,539
65,580
28,601
1,027,720
The average monthly number of employees during the year was as follows:
Year
ended 31
March
2025
Number
27
9 months
ended
31 March
2024
Number
27
The number of employees whose remuneration was £60,000 for the year or more (excluding
employer's pension contributions but including taxable benefits) during the current year/prior
period were as follows:
Year
9 months
ended 31
ended 31
March
March
2025
2024
Number
number
1
£80,001 - £90,000
Key management personnel are defined as the Trustees, together with the Group CEO and
the Managing Director of Coram Intercountry Adoption Centre.
The remuneration of key management personnel is based on an internal assessment of
the scope of the individual role and an individual's performance within that role. Internal
benchmarking is conducted to ensure that remuneration levels within the Coram Group are
consistent for the level of responsibilities. Remuneration is agreed by the Coram Group
Senior Management Team consisting of the Chief Executive, Chief Finance Officer and the
Director of People & Compliance.
The total remuneration (including taxable benefits and employer's pension and national
insurance contributions) of the key management personnel of the charity was £88,569 (9
months ended 31 March 2024 - £64,494).
No Trustee received any remuneration during the period (2024 - Enil). No trustees were
reimbursed for travel expenses (9 months ended 31 March 2024 - £1,727 for one trustee).
Coram Intercountry Adoption Centre Ltd 27

Notes to the financial statements for the period ended 31 March 2025
6
Tangible fixed assets
Cost
At 1 April 2024 and at 31 March 2025
Depreciation
At 1 April 2024 and at 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024
Fixtures
fittings and
equipment
37,766
37,766
7 Debtors
Trade debtors
Other debtors
Accrued income and prepayments
2025
85,160
13,890
71,087
170,137
2024
€
128,563
12,379
16,847
157,789
8
Creditors: amount falling due within one year
Bank loans and overdrafts (see note 9)
Trade creditors
Accruals and deferred income
Other creditors
Social security and other taxes
2025
28,422
437,296
48,614
12,196
526,528
2024
38,442
58,056
548,332
34,369
25,331
704,530
Deferred income relates to funding received which is subject to time related conditions. The
movement on deferred income during the period was as follows:
At 1 April 2024
Released in the period
New deferrals
At 31 March 2025
361,954
(361,954)
240,547
240,547
Coram Intercountry Adoption Centre Ltd 28

Notes to the financial statements for the period ended 31 March 2025
9 Loans
An analysis of the maturity of the loans is given below:
2025
-
2024
38,442
38,442
Within one year
All loans were fixed interest rate loans at 6.5%. Bank loans were secured against the assets
of the charity.
10 Movements in funds
At 1
April
2024
Income Expenditure
At 31
March
2025
E
Restricted funds
John Lyon's Charity
India Appeal
Total restricted funds
9,000
10,730
19,730
=
(9,000)
(9,000)
Total unrestricted funds
Total funds
(117,535)
(97,805)
149,043
-
149,043
(9,000)
-
10,730
10,730
31,508
42,238
The income funds of the charity include restricted funds comprising the following
unexpended balances of donations and grants held on trusts to be applied for specific
purpose.
John Lyon's Charity
This fund is to be spent to provide post adoption support to families in nine Local Authority
areas in London.
India Appeal
This fund is to be spent to support families adopting children from India.
11 Analysis of net assets between funds
Current assets
Creditors: amounts falling due within one year
General
Restricted
funds
funds
558,036
(526,528)
31,508
10,730
10,730
Total
funds
568,766
(526,528)
42,238
Coram Intercountry Adoption Centre Ltd 29

Notes to the financial statements for the period ended 31 March 2025
12 Operating lease commitments
At 31 March 2025, the charity had commitments in respect to total minimum lease payments
payable under operating leases for land and buildings due as follows:
2025
2024
Payable within:
Less than one year
37,269
37,269
13 Related party transactions
The financial statements do not include disclosure of transactions between Coram
Intercountry Adoption Centre and Coram or any fellow subsidiary entities. As a 100%
controlled subsidiary undertaking, Coram Intercountry Adoption Centre is exempt from the
requirement to disclose such transactions under Financial Reporting Standard 102 Section
33.
During the period of report, there were no other transactions with related parties (2024:
none).
14 Ultimate parent undertaking
The Thomas Coram Foundation for the Children ('Coram'), a registered charity with Charity
Registration Number 312278, is the sole member of Coram Intercountry Adoption Centre.
15 Liability of member
The charity is constituted as a company limited by guarantee. In the event of the charity
being wound up, the member is required to contribute an amount not exceeding £1.
16 Taxation
Coram Intercountry Adoption Centre is a registered charity and, therefore, is not liable to
income tax or corporation tax on income derived from its charitable activities, as it falls within
the various exemptions available to registered charities.
Coram Intercountry Adoption Centre Ltd 30

Appendix:
Comparative statement of financial activities 9 Month period ended 31 March 2024
(incorporating the income and expenditure account)
Unrestricted
funds
9 months
period ended
Restricted
31 March
funds
2024
Income from:
Donations and legacies
Investment income and bank interest
Charitable activities
. Services to adopters
. Services to professionals
Other sources
. Miscellaneous Income
Total income
Expenditure on:
Raising funds
. Fundraising
Charitable activities
Total expenditure
Net income/(expenditure) and net
movement in funds
Reconciliation of funds:
Total (deficit)/funds brought forward at
1 July 2023
Total (deficit)/funds carried forward at
31 March 2024
Notes
1
2
2
13,340
7,759
747,073
640,298
1,408,470
-
13,340
7,759
747,073
640,298
-
1,408,470
3_1,361,295
1,361,295
4
47,175
(164,710)
-
13,500
1,374,795
13,500
1,374,795
(13,500)
33,675
33,230
(131,480)
(117,535)
19,730
(97,805)
Coram Intercountry Adoption Centre Ltd 31

Appendix
Comparative notes to the financial statements 9 Month period to 31 March 2024
1
Donations and legacies
Donations
Unrestricted
funds
13,340
13,340
Restricted
funds
9 months
ended 31
March 2024
Total
funds
13,340
13,340
2 Income from charitable activities
Services to adopters
Services to professionals
Total charitable activities
Unrestricted
funds
747,073
640,298
1,387,371
Restricted
funds
9 months
ended 31
March 2024
Total
funds
747,073
640,298
1,387,371
3 Expenditure on charitable activities
Services to adopters
Services to professionals
Total charitable activities 2024
Direct
costs
560,873
480,711
1,041,584
Support and
manage-
ment
179,428
153,783
333,211
9 months
ended 31
March 2024
Total
funds
740,301
634,494
1,374,795
Coram Intercountry Adoption Centre Ltd 32

Appendix
Comparative notes to the financial statements 9 Month period to 31 March 202
11 Movements in funds
At 1
July
2023
At 31 March
Income Expenditure
2024
Restricted funds
John Lyon's Charity
India Appeal
Total restricted funds
Total unrestricted funds
Total funds
12 Analysis of net assets between funds
22,500
10,730
33,230
(13,500)
(13,500)
(164,710)
1,408,470 (1,361,295)
(131,480)_
1,408,470
_(1,374,795)
9,000
10,730
19,730
(117,535)
(97,805)
Current assets
Creditors: amounts falling due within one year
General Restricted
funds
funds
586,995
(704,530)
(117,535)
19,730
19,730
Total
funds
606,725
(704,530)
(97,805)
Coram Intercountry Adoption Centre Ltd 33