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← Foster Care Organisation International Limited

2021-03-31-accounts

Company number: 02751755 Charity number: 1081324

FOSTER CARE ORGANISATION INTERNATIONAL LIMITED (A company limited by guarantee and not having a share capital)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Foster Care Organisation International Limited

Contents

Page
Legal and administrative information 1
Directors’ report (incorporating the Trustees' annual report) 2 – 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12
Notes to the accounts 13 - 16

VAS Community Accountancy

Foster Care Organisation International Limited Legal and administrative information for the year ended 31 March 2021

Trustees April Curtis USA Resigned on August 1, 2020 Joanna Derrick UK Lacy Dicharry USA Resigned 30 April 2021 Danielle Douglas Ireland Resigned April 4 2020 John Role Malta Vasundhra Sharma India Carrie Tineke –Harrop UK Stacy Blythe Australia Lanto Robivelo Madagascar Veronica Buchumi Germany Billie-Jo Mcdowell Northern Ireland Appointed 4 April 2020

Charity number 1081324

Company number 02751755

Registered office

The Circle 33 Rockingham Lane Sheffield S1 4FW

Independent Examiner

Susan Cochrane FCA Employee of: VAS Community Accountancy The Circle 33 Rockingham Lane Sheffield S1 4FW

VAS Community Accountancy

1

Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) For the year ended 31 March 2021

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 March 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the 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) issued in October 2019.

Objects of the charity

Structure, governance and management

Foster Care Organisation International Limited (IFCO) is governed by the Memorandum and Articles of Association incorporated 30 September 1992. New Articles of Association were put before the members at the last AGM (November 16th 2019) and are currently going through the formal process with Charity Commission and Companies House to be legally implemented. These have been presented to the Charity Commission and we are currently waiting for Companies House to register them before the Charity Commission will formally recognise and register the new Articles of Association.

IFCO is governed by a Board of Trustees, elected from and by the members of Foster Care Organisation International Limited or co-opted subject to election. The Board holds at least six governance meetings online and holds physical meetings during IFCO regional / international conferences to provide strategic guidance, discuss and agree on policy issues, review expenditure, approve budgets and review overall progress in implementing strategic goals and objectives. The Board under its traditional model had established a number of committees, including a Youth Committee, Training and Consultancy Projects Committee, Communication and Marketing Committee, Membership Committee, Conference Committee, Fundraising Committee, Research and Publications Committee. IFCO retains the right to appoint committees from time to time in order to facilitate its work. Please see Trustees Report below for further information on the new structure.

All of the executive decisions are administratively supported by the IFCO Secretariat. By providing administrative, financial and logistic functions, the Secretariat contributes towards the improvement of IFCO’s operational capacity. It does this through implementation of the organisational strategy, transparency and accountability (including communications, reporting and financial management). The President is responsible for management of the Secretariat.

The Board is comprised of up to eleven members made up of:

The Trustees constitute Directors for the purposes of the Companies Act 2006 and Trustees for the purposes of the Charities Act 2011.

All Directors must be aged 18 or over, and be either an individual member, a life member, a youth member, or an employee or a member of the governing body of an organisational member. All the membership categories are defined within the Company’s Articles of Association.

Trustees are recruited from the membership aged 18 and over after advertising via email communication with members and supporters. Elections are held at the AGM every two years. Members who are present at the meeting may vote and other members may appoint proxies to vote for them. Trustees may serve for a maximum of 8 consecutive years. The Management Committee is responsible for new Board members induction. Induction is performed in the period of 2 months after appointment of new trustees.

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Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2021

OBJECTIVES AND ACTIVITIES

The principal objective of the charity is to promote and organise co-operation in achieving the improvement of the quality of service given to children and others in care and to that end bring together associations of foster parents, representatives of authorities and organisations engaged in advancing foster care and relieving distress of children and others in care to assist their work.

The strategic goals for 2019-2022 have remained largely unchanged from 2013-2014 as Trustees believed in their long-term sustainability, quality and impact.

Strategic Goal 1. IFCO will promote and support the development of evidence-based policy on alternative familybased care for children internationally.

Strategic Goal 2. IFCO will promote good practice and improve existing practice in the delivery of family-based child care.

Strategic Goal 3. IFCO will capitalise upon the vast experience and expertise of all its members to create opportunities to inform and increase the international research base to support family-based child care policy and practice.

To achieve these strategic objectives, IFCO’s operational priorities have been grouped around three overarching pillars:

1) Networking

Main areas covered:

2) Publishing and research

Main areas covered:

3) Training and consultancy

Main areas covered:

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Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2021

RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the finances of the charity, and are satisfied that systems are in place to mitigate exposure to the major risks, although it is recognised that systems can only provide reasonable, not absolute, assurance. The Trustees aim to have diversified sources of funding for the company through improving internal capacity for fundraising and selfsustainability of the core organisational functions, drafting grant proposals, proposals for training and funded consultancy services.

The Directors/trustees and oversight team have assessed the potential risks and have developed policies and codes of practice which cover child protection, Disability Discrimination Act issues, health and safety, insurance and employment law. Where appropriate, action has been taken to mitigate the relevant risks.

Covid-19 has continued to be an element of risk assessment and risk management. IFCO suspended its current strategic plan in order to respond to Covid-19 pandemic both for the benefit of our members and the public but also in order to be sustainable. Our 2021 International Conference planned for Darwin, Australia has been deferred for a year and will be in September 2022. We continued to address the significant decrease in income while also delivering quality webinars, projects, and activities. IFCO2020 conference was cancelled and instead, a webinar series and submission for journal publication was undertaken. This represented a loss of projected income from the physical conference. IFCO Board oversaw the increased fundraising activities, including many Facebook fundraisers as well as a Dare to Lead training where all registration income was donated as fundraising for IFCO. We have made a plan for the coming year (April 2021 - March 2022) to hold IFCO2021, fundraising events, activities and training events as ways to diversify our income strands as well as decrease our outgoing costs. We also aim to create more free-to-access online events and seminars for members and the general public as the pandemic continues.

Public benefit statement

The Trustees confirm that they have complied with the duty to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

Achievements and performance

Directors and Trustees

Operations

The team remained stable for the reporting year. Over the year, we have three longer term volunteers that also joined the secretariat for more than a few weeks each time: Francesca Daniels: Social Media Consultant, Ginny Engholm: Communications and Development Expert, Ryan Daniels: Design Development. Their time and effort has meant that we updated the IFCO logo for the first time in 40 years; we reconfigured the website for ease of use for members and the public; and we implemented the Communication Strategy. Thanks also to all volunteers, especially those who volunteered during the pandemic.

Membership

There is a continued base of renewed members every year. There has been a slight decrease in individual membership since last year (8%) but membership retention is high. We now have members in over 27 countries and organisational members (9) in four countries.

Considering the impact of Covid and not being able to physically host IFCO2020 or IFCO2021 as planned, we are delighted to have such a loyal member base when annual memberships are not necessarily a priority at the moment. We hope to see this pick up again with the implementation of IFCO2022. We are also able to demonstrate membership engagement through webinars, discussion groups and newsletters/surveys.

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Foster Care Organisation International Limited

Directors’ report (incorporating the Trustees' annual report) (continued)

For the year ended 31 March 2021

Membership (continued)

We also conducted a consultation with current and former IFCO Youth Members in Autumn 2020. The outcome of this is that IFCO is valued for its youth conferences, for being a place to connect to other youth and for its webinars and events as well as access to the IFCO PAt Whelan Youth Fund.

IFCO’s strategic goals:

IFCO’s “A plan for revitalisation and sustainability: Strategic Plan 2020-2022” in August 2020. IFCO’s vision is driven by the belief that, if they so wish, all children in alternative care across the world should live in family-based care because this form of care offers children the best opportunity to grow and prosper. GOAL 1: IFCO will advocate on behalf of children in alternative care so that all those children who need and want it, will have the opportunity to avail of family-based foster or kinship care.

GOAL 2: IFCO will promote the rights of children in alternative care to ensure the inclusion of their views on all matters affecting them as set out in Article 12 of the United Nations Convention on the Rights of the Child.

GOAL 3: IFCO is committed to supporting foster and kinship carers to achieve and maintain the highest standard of care to ensure best outcomes for children in their care.

While our goals remain the same, some of our strategic plan was paused because of COVID-19 pandemic. IFCO changed the focus of this year to continue providing online support and content to members and the public. We prioritised member engagement, introducing themed member sessions every 4-6 weeks as well as delivering a Dare to Lead™ leadership training to members and the public and getting the charity back to financial stability, diversifying income and decreasing costs with the aim of ensuring financial viability for 2021.

Conferences and events

IFCO2020 was cancelled and in order to offer the potential content to as many people as possible, IFCO and Child Welfare League Canada launched a multiple webinar Learning Programme for September 2020 - April 2021. The theme was Close ties: Relations at the heart of child and family wellness and a journal publication from the abstracts submitted to be published in 2021.

IFCO 2021, to be hosted in Darwin, Australia was deferred to 2022. At the start of 2021, IFCO and partners made the decision to defer IFCO2021 International Foster and Kinship Care Conference hosted in Darwin to 2022. This was based on the global pandemic and wanting to keep all participants safe while also being able to host as many people as possible.

Dare to Lead certified training : As part of our commitment to quality care and professional development, IFCO, in collaboration with Lacy Dicharry (Former IFCO President, current member) started to offer Dare to Lead certified training. “As a Dare to Lead Facilitator™, my goal is to help you become a Daring and Courageous Leader and learn one or several of the four skill sets of courageous leadership. Dare to Lead is a research-driven process that will help you build skills that are tactical and actionable allowing you to put language, skills, and tools into practice.” Lacy Dicharry.

Dare to Lead™ is designed for anyone who is ready to embrace brave leadership, shed their armor, and show up with their whole heart in their work and life. This program benefits those who manage, inspire, and train teams, and those who want to live and lead from an inspired authentic grounding. IFCO and Lacy have committed to delivering this training twice in 2021 and twice in 2022. All registration fees are a 100% donation to IFCO as a fundraising activity. The February 2021 training was our largest fundraiser of the financial year and 21 participants benefited from the training.

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Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2021

Conferences and events (continued)

IFCO Coffee Conversations: In response to Covid, IFCO held “Coffee Conversations” where different emerging

topics were discussed over the Spring and Summer 2020 as everyone responded to children protection, leaving care, how to do social work and provide care during a pandemic. These were extremely well received by both members and the public. Some of these recordings are now available on our Youtube.channel.

PiCK Europe & Building Bridges (Erasmus projects)

In 2021, IFCO was successful in leading 2 Erasmus project bids, one at national level in the UK and one at European level.

Our UK partners are Staf (Scotland) and Care Leaver’s Association (England/UK) with the aim of delivering a project with careleavers.The main objective of 'Building Bridges: Connective Voices' is promoting young

people’s active citizenship, establishing partnership relations between youth from different parts of the country (England and Scotland, who have different legislation and different politicians), empowerment and social inclusion by creating opportunities for interaction and communication between youth, professionals and policymakers. A secondary objective is to invest in these young people's skills and confidence that are transferable and useful beyond this project.

Our European project is partnering with a small new careleaver organisation in Netherlands, Careleavers Connected as well as the National Foster Care Association, Malta (NFCAM). The aim of this project is to connect Careleavers from the United Kingdom, the Netherlands, and Malta; promote their active citizenship; and empower them by creating opportunities for interactions and skills development, sharing their voices to influence positive change with youth, professionals and policymakers. This will have activities in Netherlands, UK and Malta in 2021 and 2022.

IFCO@40 - IFCO’s 40th Anniversary: We continue to develop plans to celebrate IFCO’s 40th Anniversary including having a logo attached to this year’s events and activities. This includes setting up a new former and current members group on Facebook to promote discussion and interaction as well as posting some ‘flashback’ photos and previous conference reminders as part of reminiscing about IFCO and our legacy.

IFCO Partnerships

IFCOs presence in the world

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Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued)

For the year ended 31 March 2021

Conferences and events (continued)

COVID-19 impact

On the 30th of January 2020, the WHO announced the Coronavirus as a “public health emergency of international concern”. As an international organisation, registered in the UK, this impacts how we operate. No one could have foreseen the impact it would have globally. IFCO has taken an innovative and creative approach to supporting our members and therefore vulnerable families who are more exposed due to this pandemic and we continue to operate with a focus on empowering family-based care for every child around the world. The impact of Covid has meant that our role has become more distanced, advisory and informational but we look forward to being able to participate in more projects and partnerships delivering more on-the-ground contributions to promoting foster care and quality alternative care in the future.

The last few weeks of the financial year, and most of the time up to the signing of the accounts, the UK has experienced a period of social distancing and self-isolation in response to the Coronavirus pandemic.

Operational effect on the charity

The impact of the pandemic touches everything IFCO does. It has impacted our ability to host gatherings, challenged us to be creative with online events and resources as well as creating new innovations as well as issues for children in alternative care and their families because of Covid-19.

In the immediacy, IFCO’s core ability to operate has not been adversely affected by the global pandemic as we operate a home-based model of operations currently for our secretariat and board members using virtual tools and platforms. However, what we do and how we generate income was significantly impacted and continues to be. Our IFCO2020 conference partnership with Child Welfare League Canada (CWLC) was cancelled in 2020 and

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Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2021

COVID-19 impact (continued)

IFCO had to defer our next international conference, originally planned for June 2021 twice. It is now planned for Darwin, Australia, partnership with Foster and Kinship Carers Northern Territories (FKANT) in September 2022. Given the significant progress with vaccines and decrease in the pandemic, we are looking forward to a successful in-person conference in Darwin and we will have a huge celebration for our 40[th] Anniversary then.

In recognition of sharing and best practice, we have been able to adapt and run a series of online seminars and webinars. In 2021, we continued the online delivery of discussion groups, webinars and members’ discussion groups.

Financial impact on the charity

IFCO is an international charity and as yet does not receive any core funding. Our focus therefore in 2020 and beyond has to be to generate unrestricted income. With the cancellation of our biggest event and fund generator (our international IFCO 2020 conference), IFCO will be exploring alternative routes to fundraising and income generation to support the sustainability of the charity. In response to the Covid -19 pandemic, the charity had to make financial decisions to ensure that we were able to be financially viable moving forward. We moved forward with diversifying our income streams.

As reported in our last Annual report, we continue to focus on generating restricted income but have had to lower the staff requirements in 2020 in order to also lower the outgoings as part of our sustainability planning. We now have one part-time person working for IFCO and all other activities are delivered by volunteers (our sincere thank you again to those who have donated hundreds of hours each year).

Other income streams have include simple income generating activities such as Facebook fundraising and passive funding raising through ‘Amazon Smile’ and ‘Give as you Live’ app. The most successful of these are the Facebook “donate to my favourite organisation on my birthday” offerings that board members and ordinary members host. Hosting Dare to Lead™ training has also been very successful and we will continue these into the future. We are also continuing to undertake more projects and directly applying for funding these projects.

Future developments: April 2021 - March 2022

We will hold IFCO2021 as an online conference , hosted in 2 time zones to facilitate as many participants as possible. The theme and focus will be on 40 years of IFCO and 40 years of changes in alternative care and foster care.

IFCO2022 will be hosted in Darwin, Australia. This year will focus on raising awareness of the conference, welcoming presentation submissions and networking with Australian organisations as we build more partnerships.

IFCO will continue to partner with Lacy Dicharry in delivering Dare to Lead Training opportunities in 2021 and 2022. This is aimed at encouraging brave leaders in the various roles around foster care. It is also a vital fundraiser for IFCO as unrestricted funds.

The Erasmus projects in the UK and in Europe, PiCK and Building Bridges, will engage with careleavers, and policy makers in various roles such as politicians, advocates in the NGO sector, academics, foster carers and others. The aim will be to hold at least 3 events this year; depending on Covid, this may be in person or online.

We will increase our influence through collaborative networking with other organisations in the sector and campaign for policy change that is informed by those with lived experience. IFCO will further aim to amplify the voice of Care Leavers through increased engagement with other youth platforms and through engagement with our organisational members.

IFCO is fully committed to retaining current members and increasing the breadth and depth of membership in line with our memorandum. We will continue our online presence, providing webinars and exchange opportunities for our members and the public.

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Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2021

Future developments: April 2021 - March 2022 (continued)

As an international charity that is registered in the UK, the departure of the UK from the European Union (Brexit) has not had a significant direct impact on IFCO’s operational and strategic commitments; however this will remain under review as the process unfolds.

Reserves

The trustees are keenly aware of the necessity to maintain an adequate level of reserves. At present free reserves of £10,000 are considered to be the minimum level at which the charity can productively function. Because we do not own office space, nor have employees using PAYE, our overheads are minimal, which is why we consider the minimum of £10,000 as appropriate. This compares to free reserves at 31 March 2021 of £26,339 (2020: £34,665).

Fundraising statement

IFCO is a member based organisation and its funding comes from membership fees, providing training and IFCO conferences. We do not solicit funds via phone, email, direct mail or by using third party commercial fundraisers. We do fundraise via a general call for support on our website, social media and in our conference material.

IFCO is committed to being accountable and responsible and if its fundraising approach changes in the future IFCO will register with the UK fundraising regulator.

IFCO did not receive any complaints about fundraising activity during 2020-2021.

Small companies exemption

In preparing this report, the trustees have taken advantage of the small companies exemptions provided by Section 415A of the Companies Act 2006.

31.01.2022

This report was approved by the Board of Trustees on _______ and signed on its behalf by:

Carrie Harrop Name:________ Trustee

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Independent examiner’s report to the directors of Foster Care Organisation International Limited (‘the Company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I 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.

Signed: Susan Cochrane FCA Employee of VAS Community Accountancy The Circle 33, Rockingham Lane Sheffield S1 4FW

Date: 31 January 2022

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Foster Care Organisation International Limited

Statement of Financial Activities (incorporating an income and expenditure statement) For the year ended 31 March 2021

Notes
Income from:
Grants and Donations
2
Charitable activities
3
Investiment income
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income/(expenditure)
Transfer between funds
7
Net movement on funds
Total fund brought forward
Total funds carried forward
7		 Unrestricted
funds
£
3,521
4,439
30		 Restricted
funds
£
29,033
-
-		 Total Unrestricted
2021
funds
£
£
32,554
4,575
4,439
4,387
30
152
37,023
9,114
16,316
32,267
16,316
32,267
20,707
(23,153)
-
-
20,707
(23,153)
40,469
57,818
61,176
34,665		 Total Unrestricted
2021
funds
£
£
32,554
4,575
4,439
4,387
30
152
37,023
9,114
16,316
32,267
16,316
32,267
20,707
(23,153)
-
-
20,707
(23,153)
40,469
57,818
61,176
34,665		 Restricted
funds
£
0
-
-		 Total
2020
£
4,575
4,387
152
7,990 29,033 9,114 - 9,114
16,316 - 32,267 0 32,267
16,316
(8,326)
-		 -
29,033
-		 32,267
(23,153)
-		 -
-
-		 32,267
(23,153)
-
(8,326)
34,665		 29,033
5,804		 (23,153)
57,818		 -
5,804		 (23,153)
63,622
26,339 34,837 34,665 5,804 40,469

The statement of financial activities includes all gains and losses recognised in the year.

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Foster Care Organisation International Limited

Balance Sheet

As at 31 March 2021

Notes
Current assets
Cash at bank and in hand
Total current assets
Creditors: amounts falling due within one year
6
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
Total net assets
Funds of the Charity
Unrestricted funds
Restricted funds
8
Total funds
9		 2021
£
70,208		 2020
£
63,073
70,208
(9,032)		 63,073
(22,604)
61,176
61,176
-		 40,469
40,469
-
61,176 40,469
26,339
34,837		 34,665
5,804
61,176 40,469

For the year ending 31 March 2021 the 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 director's acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies' regime and in accordance with FRS102 SORP

31.01.202

The financial statements were approved and authorised for issue by the Board on ____

and signed on their behalf by:

Carrie Harrop Trustee

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FOSTER CARE ORGANISATION INTERNATIONAL LIMITED

Notes to the Accounts For the year ended 31 March 2021

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) General

Foster Care Organisation International Limited is a charitable company in the United Kingdom limited by guarantee. In the event that the charity is wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements have adopted Charities SORP (FRS102) Bulletin 1 and taken advantage of the exemption to the prepare a Statement of Cash Flows.

Foster Care Organisation International Limited meets the definition of a public benefit entity under FRS 102. The financial statements are prepared under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £.

(b) Going concern

The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existences for the foreseeable future and there are no material uncertainties regarding the Charity's ability to do so.

(c) Income

Income represents the amount derived from the provision of goods and services falling within the charity’s activities, membership subscriptions, donations and interest.

Income from government or other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Subscriptions are accounted for in the year they are due. Investment income is included when receivable.

(d) Expenditure

Expenditure including irrecoverable VAT is charged to the Statement of Financial Activities on an accruals basis. Costs of raising funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

(e) Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

(f) Fund accounting

Unrestricted funds are donations and other income receivable or generated for the objects of the organisation without further specified purpose and are available as general funds.

Restricted funds are either donations which the donor has specified are to be used solely for particular areas of the charity's work or grant income sought for specific activities.

(g) Creditors and provisions

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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FOSTER CARE ORGANISATION INTERNATIONAL LIMITED

Notes to the Accounts - continued For the year ended 31 March 2021

(h) Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

(i) Estimates and judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the trustee's best knowledge of the amount,events or actions, actual results ultimately differ from these estimates. The trustees do not consider there to be any estimates or judgements.

(j) Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

(k) Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

2 Income from grants and donations

Grants
Donations
Grants
Erasmus grant
Income from charitable activities
Conference seminar and training income
Consultancy services
Subscriptions		 Unrestricted
funds
£
-
3,521		 Restricted
funds
£
29,033
-		 Total
2021
£
29,033
3,521
32,554
Total
2021
£

29,033
-
29,033
Total
2021
£
-
2,781
1,658
4,439		 Unrestricted
funds
£
4,543
32
4,575
Unrestricted
funds
£
-
-
Unrestricted
funds
£
-
786
3,601
4,387		 Restricted
funds
£
-
-		 Total
2020
£
4,543
32
3,521 29,033 - 4,575
Unrestricted
funds
£
-		 Restricted
funds
£
29,033		 Restricted
funds
£

-		 Total
2020
£
-
- 29,033 - -
Unrestricted
funds
£
-
2,781
1,658		 Restricted
funds
£
-
-
-		 Restricted
funds
£
-
-
-		 Total
2020
£
-
786
3,601
-
4,439 - - 4,387

3 Income from charitable activities

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FOSTER CARE ORGANISATION INTERNATIONAL LIMITED

Notes to the Accounts - continued For the year ended 31 March 2021

4 Expenditure on Charitable Activities

Expenditure on Charitable Activities Expenditure on Charitable Activities
Unrestricted
Note
funds
£
Conference/meetings
1,934
Project expenses
-
Management and administration
- Independent examiners fees
480
- Bank and other charges
324
- Officer expenses and representation
10,521
926
- Office and sudry
1,244
- Website development
1,540
- Difference on exchange
(653)
16,316
- Legal and Professional		 Restricted
funds
£
-
-

-

-
-
-
-
-		 2021
Total
£
1,934
-
480
324
10,521
926
1,244
1,540
(653)
16,316		 Unrestricted
funds
£
4,420
1,736
-
268
22,297
840
1,353
108
1,245
32,267		 Restricted
funds
£
-
-

-
-
-
-
-
-
-		 2020
Total
£
4,420
1,736


-

268

22,297

840

1,353

108

1,245
16,316 - - 32,267

5 Trustee and related party transactions

None of the trustees received any remuneration (2020: £nil); reimbursed expenses and recharged costs totalled £Nil during the year (2020: £2,171).

There were no other related party transactions during the year.

6 Creditors: amounts falling due within one year

Creditors
Accruals and deferred income		 2021
£
6,002
3,030		 2020
£
9,790
12,814
9,032 22,604

7 Movement in funds

Restricted funds - see note 8
Unrestricted funds
Prior year
Restricted funds
Unrestricted funds		 Balance at
1-Apr-20
£
5,804
34,665		 Income
£
29,033
7,990
37,023
Income
£
-
9,114
9,114		 Expenditure
£
-
(16,316)
(16,316)
Expenditure
£
-
(32,267)
(32,267)		 Transfer
-
-		 Balance at
31-Mar-21
£
34,837
26,339
40,469 - 61,176
Balance at
1-Apr-19
£
5,804
57,818		 Transfer
-
-		 Balance at
31-Mar-20
£
5,804
34,665
63,622 - 40,469

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FOSTER CARE ORGANISATION INTERNATIONAL LIMITED Notes to the Accounts - continued For the year ended 31 March 2021

8 Restricted funds

Restricted funds
Pat Whelan Fund
Building Bridges: Connecting Voices		 Balance at
1-Apr-20
£
5,804
-		 Income
£
-
29,033
29,033		 Expenditure
£
-
-
-		 Transfer
£
-
-		 Balance at
31-Mar-21
£
5,804
29,033
5,804 - 34,837

Pat Whelan Fund

This fund is utilised to allow younger people to attend conferences.

Building Bridges: Connecting Voices

Grant awarded by Erasmus for the main objective of promoting young people's active citizenship, establishing partnership relations between youth from different parts of the country, empowerment & social inclusion by creating opportunities for interaction and communication between youth, professionals and policymakers.

Prior year
Pat Whelan Fund
9 Net assets by fund
Net current assets
Net assets by fund - Prior year
Net current assets		 Balance at
1-Apr-19
£
5,804		 Income
Expenditure
£
£
-
-
-
-
Unrestricted
funds
£
26,339
26,339
Unrestricted
funds
£
34,665
34,665		 Transfer
£
-		 Balance at
31-Mar-20
£
5,804
5,804 - 5,804
Restricted
funds
£
34,837		 Total
£
61,176
34,837 61,176
Restricted
funds
£
5,804		 Total
£
40,469
5,804 40,469

10 Taxation

Foster Care Organisation International Limited is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

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