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← Foster Care Organisation International Limited

2023-03-31-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 2023

Foster Care Organisation International Limited

Contents

Page
Legal and administrative information 1
Directors’ report (incorporating the Trustees' annual report) 2 – 7
Independent examiner’s report 8
Statement of financial activities 9
Balance sheet 10
Notes to the accounts 11 - 14

Foster Care Organisation International Limited Legal and administrative information for the year ended 31 March 2023

Trustees

Joanne Derrick UK John Role Malta Vasundhra Sharma India Carrie Tineke Harrop UK Billie-Jo Mcdowell Northern Ireland Stacy Blythe Australia Lanto Robivelo Madagascar Veronica Buchumi Germany Mark Harrop UK Myrna McNitt USA Nicola Peel Australia Tiia Peramaa Finland Lauren Smith USA

Resigned 20/11/2023 Resigned 20/11/2023 Resigned 20/11/2023 Resigned 27/08/2022

Appointed 20/11/2023 Appointed 20/11/2023 Appointed 20/11/2023 Appointed 20/11/2023 Appointed 20/11/2023

Charity number 1081324

Company number 02751755

Registered office

The Circle 33 Rockingham Lane Sheffield S1 4FW

Independent examiner (and Accountants) Susan Cochrane, FCA, DChA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH

1

Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) For the year ended 31 March 2023

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 March 2023 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

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 several 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 to facilitate its work.

All 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. For the duration up until the end of December 2022 IFCO had a paid part-time Operations and Project Manager in the role of Secretariat. Since then, the IFCO Board have taken on these duties along with a volunteer Secretariat supporting the communication strategy.

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.

2

Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2023

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 this financial period have remained largely unchanged from previous years, in part due to the impact of COVID-19, where some of IFCO’s activities went on hold, and as Trustees believed in their longterm 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:

3

Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2023

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 and its impact on international travel and attendance at conferences has continued to be an element of risk assessment and risk management. IFCO suspended its most recent strategic plan to respond to Covid-19 pandemic both for the benefit of our members and the public but also to be sustainable. Our 2021 International Conference planned for Darwin, Australia was deferred for a year and was successfully delivered in September 2022. We continued to address the significant decrease in income in the first part of the financial year (ahead of the conference) while also delivering quality webinars, projects, and activities.

IFCO benefitted from fundraising activities facilitated during the conference in Darwin whilst also delivering training which marked the beginning of an approach to diversification of income strands that had also been impacted by the pandemic. The Board are committed to further developing a diversified portfolio of income generation in the coming years.

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 commissioned Secretariat resigned in December 2022 having successfully supported IFCO to deliver (with Partners) on our first in person international conference since 2017. We continued to further develop and deliver on the Communication Strategy with the support of our volunteer secretariat for whom we are most appreciative of their time and skills.

Membership

There is a continued base of renewed members every year. We are working on increasing the membership through our strategy. We have members in over 18 countries and organisational members (7) in four countries. As a membership organisation we are committed to ensuring our members feel the value of IFCO membership and this continues to be of strategic importance to IFCO in this and forthcoming years.

4

Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2023

Conferences and events

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. After another wave of the pandemic in 2022, we moved the dates to September 2022 and have been promoting the 40th Anniversary Conference (also the 10th Anniversary Conference of our national partner, FKANT).

We are delighted at the success of the conference in Darwin. With over 600 delegates attending and a 3-day programme of learning IFCO asserted itself as an organisation at the forefront of shared learning and networking on all aspects of alternative family-based care. The delivery of such a successful conference was largely dependent on the drive and commitment of IFCO Board members and particular thanks are expressed to the IFCO Conference Liaison Officer, Management Committee and Secretariat for all their hard work and dedication to see this through.

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) continued 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 researchdriven 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 is planning an in-person training in 2022, linked to our conference in Australia. 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.

– Care Leaver Led Projects PiCK Europe & Building Bridges

In 2021, IFCO was successful in leading an Erasmus project bid to amplify thr voice of Care Leavers at a European level. Our project partnered with a small new care leaver organisation in Netherlands, Care leavers Connected as well as the National Foster Care Association, Malta (NFCAM). The aim of

this project was to connect Care leavers 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. The project was heavily impacted by firstly the pandemic and post pandemic the busyness of people’s lives, however we were able to bring people together in the Netherlands, UK, and Malta across the duration of the project and develop resources that were co-designed and co-produced with care leavers to support the skills development of policy makers seeking to engage with young people/care experienced adults. in 2021 and 2022.

Using the same principles as those of the Erasmus funded project, IFCO partnered with 2 UK based organisations - Staf (Scotland) and Care Leaver’s Association (England/UK) with the aim of hosting an event with care leavers. The main objective of ' Building Bridges: Connective Voices ' was to promote 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. The event saw policy/decision-makers and care leavers from both England and Scotland culminating at an in-person event to develop pledges to change the policy landscape beyond the life of this initiative and we hope to continue to support this work through the work of the IFCO Youth Committee.

5

Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2023

We are proud to have been able to support these projects through some really challenging times and really appreciate the care leavers who participated in the projects and the organisations and individuals who supported them. Thanks also to the IFCO Board members who invested so much time, energy, and commitment to seeing these projects through to conclusion and for the memories created for those involved.

Training & Development

IFCO was commissioned to deliver capacity building training by Partnership for Every Child Moldova. Members of the workforce across Moldova undertook a 3 day ‘train the trainer’ programme to develop a trauma informed foster carer community across the country. IFCO is thankful for the hospitality of Partnership for Every Child Moldova and for the prospect of ongoing collaborations to enhance the skills of carers and improved life outcomes for children/young people in alternative

family-based care.

IFCO Partnerships

IFCOs presence in the world

Future developments: April 2023 - March 2024

IFCO will build on the successful re-introduction of in-person international conferences and strategically prepare for future conferences having undertaken analysis on the changing landscape on event management and demands of prospective conference delegates.

6

Foster Care Organisation International Limited Directors’ report (incorporating the Trustees' annual report) (continued) For the year ended 31 March 2023

IFCO will continue to partner with Lacy Dicharry in delivering Dare to Lead Training opportunities . 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.

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.

We will strengthen our Board membership in recognition of the end of tenure of some of our Board members in the coming year, and to enable IFCO to draw on the skills and experience it needs as a strategically forwardfacing working board.

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 2023 of £93,067 (2022: £8,478).

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 2022-2023.

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.

07/02/2024

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

Name: Mark Harrop Trustee

7

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 2023.

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

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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.

19/02/2024 Signed: ____ Susan Cochrane FCA, DhA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH

Date: ____

8

Foster Care Organisation International Limited

Statement of Financial Activities (incorporating an income and expenditure statement) For the year ended 31 March 2023

Notes
Income from:
Grants and Donations
2
Charitable activities
3
Fundraising activities
Investment income
Other income
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income/(expenditure)
Transfer between funds
9
Net movement on funds
Total fund brought forward
Total funds carried forward
7		 Unrestricted
funds
£
269
458,997
-
-
-
459,266
372,677
372,677
86,589
(2,000)
84,589
8,478
93,067		 Restricted
funds
£
-
-
1,638
-
-
1,638
39,148
39,148
(37,510)
2,000
(35,510)
42,952
7,442		 Total Unrestricted
2023
funds
£
£
269
1,633
458,997
2,509
1,638
-
-
2
-
2,460
460,904
6,604
411,825
24,465
411,825
24,465
49,079
(17,861)
-
-
49,079
(17,861)
51,430
26,339
100,509
8,478		 Restricted
funds
£
12,888
-
-
-
-
12,888
4,773
4,773
8,115
-
8,115
34,837
42,952		 Total
2022
£
14,521
2,509
-
2
2,460
19,492
29,238
29,238
(9,746)
-
(9,746)
61,176
51,430

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

9

Foster Care Organisation International Limited

Balance Sheet As at 31 March 2023

Notes
Current assets
Debtors
7
Cash at bank and in hand
Total current assets
Creditors: amounts falling due within one year
8
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
10
Total funds
11		 2023
£
878
139,831
140,709
(40,200)
100,509
100,509
-
100,509
93,067
7,442
100,509		 2022
£
-
52,402
52,402
(972)
51,430
51,430
-
51,430
8,478
42,952
51,430

For the year ending 31 March 2023 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

07/02/2024

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

and signed on their behalf by:

Mark Harrop Trustee

10

FOSTER CARE ORGANISATION INTERNATIONAL LIMITED

Notes to the Accounts

For the year ended 31 March 2023

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.

11

FOSTER CARE ORGANISATION INTERNATIONAL LIMITED

Notes to the Accounts - continued For the year ended 31 March 2023

(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
£
-
269
269
Unrestricted
funds
£
-
-
Unrestricted
funds
£
452,322
5,542
1,133
458,997		 Restricted
funds
£
-
-
-
Restricted
funds
£

-
-
Restricted
funds
£
-
-
-
-		 Total
2023
£
-
269
269
Total
2023
£

-
-
-
Total
2023
£
452,322
5,542
1,133
458,997		 Unrestricted
funds
£
-
1,633
1,633
Unrestricted
funds
£
-
-
Unrestricted
funds
£
80
1,942
487
2,509		 Restricted
funds
£
12,888
-
12,888
Restricted
funds
£

12,888
12,888
Restricted
funds
£
-
-
-
-		 Total
2022
£
12,888
1,633
14,521
Total
2022
£
12,888
12,888
Total
2022
£
80
1,942
487
-
2,509

3 Income from charitable activities

12

FOSTER CARE ORGANISATION INTERNATIONAL LIMITED

Notes to the Accounts - continued For the year ended 31 March 2023

4 Expenditure on Charitable Activities

Unrestricted
Note
funds
£
Conference/meetings
361,344
Project expenses
1,807
Management and administration
- Independent examiners fees
6
2,280
- Bank and other charges
115
- Officer expenses and representation
6,958
109
- Office and sundry
1,225
- Repayment of grant income
-
- Difference on exchange
(1,161)
372,677
- Legal and Professional		 Restricted
funds
£
185
3,562

-

-
-
-
-
35,401
-
39,148		 2023
Total
£
361,529
5,369
2,280
115
6,958
109
1,225
35,401
(1,161)
411,825		 Unrestricted
funds
£
16,955
-
-
121
5,157
559
1,098
-
575
24,465		 Restricted
funds
£
-
4,607
-
-
166
-
-
-
-
4,773		 2022
Total
£
16,955
4,607

-

121
5,323

559

1,098

-

575
29,238

5 Trustee and related party transactions

None of the trustees received any remuneration (2022: £nil); reimbursed expenses and recharged costs totalled £Nil during the year (2022: £Nil).

There were no other related party transactions during the year.

6 Independent examination fees

Independent Examination fee
No other fees were paid to the independent examiner's organisation.
7 Debtors
Prepayments and accrued income
8 Creditors: amounts falling due within one year
Creditors
Accruals and deferred income
9 Movement in funds		 2023
£
878
878
2023
£
-
40,200
40,200		 2023
£
2,280
2022
£
-
-
2022
£
630
342
972
Restricted funds - see note 8
Unrestricted funds
Prior year
Restricted funds
Unrestricted funds		 Balance at
1-Apr-22
£
42,952
8,478
51,430
Balance at
31-Mar-21
£
34,837
26,339
61,176		 Income
£
1,638
459,266
460,904
Income
£
12,888
6,604
19,492		 Expenditure
£
(39,148)
(372,677)
(411,825)
Expenditure
£
(4,773)
(24,465)
(29,238)		 Transfer
2,000
(2,000)
-
Transfer
-
-
-		 Balance at
31-Mar-23
£
7,442
93,067
100,509
Balance at
31-Mar-22
£
42,952
8,478
51,430

13

FOSTER CARE ORGANISATION INTERNATIONAL LIMITED Notes to the Accounts - continued For the year ended 31 March 2023

10 Restricted funds

Pat Whelan Fund
Building Bridges: Connecting Voices
Pride in Care leavers Konnected: Europe		 Balance at
1-Apr-22
£
5,804
28,867
8,281
42,952		 Income
£
1,638
-
-
1,638		 Expenditure
£
-
(29,218)
(9,930)
(39,148)		 Transfer
£
-
351
1,649
2,000		 Balance at
31-Mar-23
£
7,442
-
-
7,442

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. After the year end date the funders advised that they would be requiring repayment of the outstanding grant, an accrual has been made to reflect this.

Pride in Care leavers Konnected: Europe

The PiCk Project aims to bring together Care Leavers and policy makers from the UK, Malta and the Netherlands to discuss issues impacting care leavers, and co-produce solutions with policy makers. The project has hosted three in person events in each of the host countries, and online events due to covid, bringing together the multiple stakeholders. After the year end date the funders advised that they would be requiring repayment of the grant underspend, an accrual has been made to reflect this.

Prior year
Pat Whelan Fund
Building Bridges: Connecting Voices
Pride in Care leavers Konnected: Europe
Net assets by fund
Net current assets
Net assets by fund - Prior year
Net current assets		 Balance at
31-Mar-21
£
5,804
29,033
-
34,837		 Income
£
-
-
12,888
12,888		 Expenditure
£
-
(166)
(4,607)
(4,773)
Unrestricted
funds
£
93,067
93,067
Unrestricted
funds
£
8,478
8,478		 Transfer
£
-
-
-
-
Restricted
funds
£
7,442
7,442
Restricted
funds
£
42,952
42,952		 Balance at
31-Mar-22
£
5,804
28,867
8,281
42,952
Total
£
100,509
100,509
Total
£
51,430
51,430

11 Net assets by fund

12 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.

14