Registered number.. 03671965 Charity number.. 1087447 The Supported Fostering Services Charitable Trust (A company limited by guarantee) Trustees. report and financial statements for the year ended 31 March 2021 111 1111 AAJZOSIW 2311212021 COMPAhTIES HOUSE
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The Supported Fostering Services Charitsble Trust (A company limited by guarantee) Contents Page Reference and admlnistrative details of ihe charity, its Trustees and advisers Trustees. report Trustees, responsibilities slatement Independent auditors. report on the financial statements Statement of financial activities Balance sheet 10 ststement of cash flows Notes to the financial statements 12-22
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Reference and administratlve detalls of the charity, its Trustees and advisers for the year ended 31 March 2021 Trustees Derek Clode Dr Michael Davts (appoinied 19 June 20201 Richard Pickett Kathleen Greenwood (resigned 18 June 20201 Ronald Sl Louis Iresigned 6 April 20201 Company regisiered number 03671*5 Charity regi5lered number 1087447 Registered office 12 Conquwor Court Sjllingboume England ME10 5BH Independent auditors Williams Giles Professional SeThice5 Ltd 12 Conqueroi Court Sittingbourne Kent ME10 5BH Bankers National Weslminsler Bank PIC 3 High Sireel Maiclstone Kent ME14 1XU Page I
The Supported Fostering Services Charitable Trusl {A company limiled by guarantee) Trustees. report lor the year ended 31 March 2021 The Trustee5 present Iheir annual report togeiher with the audited financial statements of the charity lor the 1 April 2020 10 31 March 2021. The annual report serves the purposes of both a Tru51ees' report and a direclor5' report under company law. The Trustees ¢onfimi that the annual ieport and financial statements ol the charitable company comply with the current 5¢alulory requirements. the requirernenls of the charitable ¢ompany's governing document and the provisions ol the S181ement ol Recommended Practice ISORPI applicable lo charities preparing their accoun15 in accordance with the Financial Reporting Standaié applicable in Ihe UK and Republic ol Ireland {FRS1021 {effeclive 1 January 20191. Since the charily qualifies as small under Section 382 of the Companies Acl 2006. the strategic report required ol meilium and large companies under the Companies Aci 20C6 (Strategic Report ano Dirlor$. Reporti Regulations 2013 ha5 been omilted. The charity also trades under Ihe names SFS Chacitable Trust. Obje¢tives and a¢tivitigS a. Pollcles and objectives The charitable com8pny's objecis are to provide support seNices to those companies working wilhin the independenl fostering industry This would include services such as foster support services. educational services. therapy services. social work services and adminisiraiion services. althovgh the charity may offer othei support Services on an adhoc basis if requeste(I by their cv5tomeis. In setting objeclives and planning for activitie5. Ihe Trustees have given due consideration lo general guidance published by the Charity Commission relalJn9 lo public benefrt. including the 9uidance 'Public benefit.. running a charity IPB21' A¢hievements and performance a. Charitable activities The charity recruits. SUPPOrt5 and trains foster earers in Wales matching the different need5 of children in eare. referred by local authorities, lo the diffeient skills and abilit$ of those Cars. b. Key performance indicators The comp8ny has seen a trrvtal increase12020 63% decrease) in incoming funds with costs decreasing E>y trivial balance.12020 - 66°/o decrease) re5vlling in a surplus In Ihe year. We consider the two key perfofmance indicators are turnovei and the surplus or deficit for the year. and given the nature DI Ihe business we consKler more delaile(f analysis not necessary lor the undeisiandin9 the performance of the business. The charity continues lo have significant reserves to create a buffei again51 furthef reductions in income. Page 2
The Supported Fostering Services Charitable Trusi IA company limited by guarantee) Trustees. report lcontinuedl lor the year ended 31 March 2021 Achievements and performance Icontinuedl c. Review of activities SFS now operates exclusively irb Wales As a top tier one Pfovider to the con5Drtium of Welsh local authoritie5 we are in a strong posilioll to provide a hwjh-qualily SerVe lo the children, young people. foster carers and local authorities. While writing it is important lo acknowledge the significance of Covid-19 and its impact. While Ihe longer-term ramificalions are still emerging at this moment Wales remains in lockdown. Ouf childn. fostering famil*s. carers and staff have risen remarkably to the new challenges presented. The 'new normal, certainly Increases pressures on everyone. Many children have also beneliled from not having the pressures o15chool. Educaiion from home lor many has proved a better option Albeil with more work lor carersl Placements are stable. Staff remain available 24n by phone or video call. Vve hope lo resume more noimal working as soon as 1¢ is sale to do so. There have been no inspe¢tKins since the lasl report. In lact. CIW have st¢)pped visiting unless there are safeguarding ¢orhcems. Financial review a. Going concern After maktng appropriate enquiries. the Tfustees have a reasonable expectation that the charity has adequate resources lo conlinue in operational existence lor the Iofeseeable Ivtuce. For this reason. they continue to adopt the 90ing concern basis In preparing the financial slatements. Furthef delails regarding the adoption ol the goin9 concern basis can be loynd In the accounting policies. Structure. governance and management a. Constitution The Supported Fostering Services Charitable Trust is feglstered as a charitable company limited by guarantee and was set up by a Trust deed. b. Methods of appointment or election of Tru$tees The directors ol the company are also charity trustees lor the puiposes ol charity law. When considering co-QPting new Iru5tees. Ihe board has regard lo Ihe requiremenl for any spectalist skills needed_ Policies adopted for the induction and training of Trustees Most truslees are already familiar with the workings of the charity havirKJ felevanl experience. New trustees are invited and encouraged lo alteThJ a ser$ of training services to lamiliarise themselves with the charity_ These are led by the company secreiary and senior management and cover". the obligations of Ihe Iruslees as direclors and Iruslees. the main documents governing the opecalion ol the chaflty. the current ani1 future plans and obiective5. Page 3
The Supported Fostering Services Charitable Trust IA company limite(I by guarantee) Trustees. report Icontinuedl for the year ended 31 March 2021 Structure, governance and management leontinuedl d. Financial risk rnanagement The Trustees have assessed Ihe maioc risks to whh the charity is exposed, In particular Ih05e related to the operations and finances of the charity. and are sa115fied thal Systems and procedures are In place lo mitigate exposure lo the major risks. - Organi$ational structure and decision making The board of trustees rneels on a regulaf basis to adminisler the charity. The day to day managernenl is dele9ated to senr management who reports to the board on operational issues. f. Board changes We Ihank Kathleen Greenwood and Ronald Si Louis. two long standing trusiees. who reliced eady in Ihe year. Richard Pickell became Chair of Trustees. We welwme Dr Mike Davies. with his weallh ol experience, lo the board. Plans for future periods The Board of Trustees are ever watchful regarding developmen15 in the fostering sector. The intention is the conlinve lo piovide a good or In¢Jeed out51andin9 service to Ihe young people that Ihe charity looks after and lo the local aulhorities who place Ihese young people. DisGlo5ure of information to auditors Each of the persons who are Trustees al the time when thi5 TIu5tees' report is appioved has confirmed Ihal.. so lar as that Trustee is aware. there is no felevanl avdrt Inloimalion of whieh the charity's aLMYilors are unaware. and that Trustee has taken all the steps thal oughl lo have been taken as a Truslee in order lo be aware of any relevanl audil Trnformation and to esiablish Ihal the charity's auditors are aware of thal informatlon. Auditors The 3udilor5, Williams Giles Professional Services Ltd. have indicated their willingness lo continue in office. The designated Trustees will propose a motKJn reappointing the auditors at a meeting of the Tiustees. Approved by order of Ihe members of the board of Tcustees and sigried on Iheif behalf by". Richard Pickett Trustee Dale 13 Page 4
The Supported Fostering Services Charitable Tru$t IA company limited by guarantee) Statement of Trustees. responsibilities for the year ended 31 March 2021 The Trustees (who are also Ihe directors ol the charity lor thè purposes of company lawl are responsible for preparin9 the Trustees, report 8nd the linancial slalemenls In accordance with applicable law and United Kingdrxn AccountirLg Standards (United Kingdom Generally Accepted Accountlng Praclscel. Company law quireS the Trustees to prepare Iinan¢ial statemen15 for each financial . Under company law. the Trustees must not approve the financial statements unless they are satisfied that they give a true and lair view ol the slate of affairs of the charity and of its incoming resources and application of resources. incluaing its income 8nd expenditure. for that period. In preparing these financial statements. Ihe Tru51ees aiE requiTed to.. select suitable accountin9 pol¢cies and then apply Ihem con51S1ently. observe the methoos and principles ol the Charilie5 SORP IFRS 1021". make judgments and accounting estimates that are reasornable and prvdenl. slate whether applicable UK Accounting Standards IFRS 1021 have been lollowe(1. subject lo any malerial departure5 disclosed and explaineij in the financial SlatenIS. piepare the financial statements on the goin9 concern basis unless il is inappioprote lo presume that the charity will continue in business. The Trustees are responsible lor keeping adequate accwnling records that are Sufficient to Show and explain the ¢harity's transactions and ¢J15close with reasonable accuracy at any time the financial position ol the charity and enable them to ensure that the financial 5talefflents coinply with Ihe Companies Act 2006. They are a150 responsible for safeguarding the assets ol the charity and hence foi taking reasonable steps for the prevention and detection of Iraud and other ircegularities. Approved by order of the members of the board of Trustees and signed on rts behalf by" Richard Pickett Trustee Dale" Is Page 5
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Independent auditors, report to the Members of The Supported Fostering Seryices Charitable Trust Opinion We have audited the financial statements ol The Supported F05tering Servlces Charilable Trust (the 'charily'l for the year ended 31 Mafch 2021 which compr1se the Stalement of financial activities. the balance sheet. the 51alement of cash flows and the related noles. including a summary of Significant accounting policies. The financial reporling framework that has been applied in their preparalh?n is applicable law and United Kingdom Accounting Standards, including Financial Reportin9 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (Uniled Kingdom Generally Accepted Accounting Practicel In our opinion the linancial statements" give a true and laii view ol the stale of the charitable companrfs affalis as at 31 March 2021 and of its incoming resources and applicaiion ol resources. Including Its income and expendilure for Ihe year then ended, have been properly prepa in accocoance wilh United Kingdom Generally Accepted Accounling Practice. and have been prepared In accordance with the requirernenls of the Companies Act 2006. Basis for opinion We conducted our audit ill accordance wilh Internalnal Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under Ihose standaids are lurlher described in the Auditors. responsibilities lor the audit of the financial stalemenls s{10n of our reporl_ We ate independent of the charitable company In accordance with the ethical requirement5 Ihat are relevant lo our audit of the financial stalemenls In the United Kingdom. including Ihe Financial Reporttng Council'5 Ethical Stsndard. 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 siaiemenis. we have concluded Ihat Ihe Trustees, use of the going concern basis of accounting In Ihe preparation of the financial slatemenls is appropriate Based on Ihe work we have performed. we have not Identified any rnalerial uncertainties relating lo events or conditions that. individually or collectively. may Casl significant (Joubl on the charitable company's ability lo Continue as a goin9 concern lor a peno<l ol al least twelve rnonths fiom when the financial statements are aulhorised lor issue. Our responsibilities and the responsibilities of the Trustees with respect lo goin9 concern are described in the felevanl seclions of this ieport. Page S
The Supported Fostering Servi¢es Charitable Trust (A company lirnited by guarantee) Independent auditors. report to the Members of The Supported Fostering Services Charitable Trust Icontinuedl Other information The other information comprises the infomiation included in the annual report other than the financial statements and oJr auailors, report thereon. The Trustees are responsible for the other inlormalion contained within the annual port. Our opinion on the financial statements doe5 not cover the other information and, except lo the extent olherwi5e explicitly stated In our report. we do not express any form of assurance ¢onclusion Ihereon. Our responsibility Is lo read the other information and. in doing so. consKler whether the other information is materially inconsislenl with the linancial statements or our knowledge obtained in the course ol the audit, 01 otherwise appears lo be materially misslaled If we identify such material inconsistencies 01 apparent material misslalements. we are required to determine whether this gives rise to a maierial misstatement in the financial statements themselves. 11. based on the work we have perfofmed. we conclude that Ihere Is a material misslatemenl of this olher inlofmation. we are required to repofl Ihal fact. We h8ve nothing lo ieport in this fegard. Opinion on other matters prescribed by ihe Companies Act 2006 In our opinn. based on the work undertaken in the course of the audit.. the inlofmation 9iven in the Truslees. report lor Ihe financial ye8r lor which the finan¢i¥l statement5 #re prepared is consistent with Ihe financial statements. the Trustees, report has been prepared in accordance with applicable legal requ1MentS. Matters on which we are required lo report by exception In the light of our knowledge and understanding of the charrtabbe company and ils environment obtained in the course ol the audit, we have not identified material misstatements in the Trustees. report. We have nothing lo ieport in resped of Ihe lolkyving malters in relalKJn lo whh Companies Acl 2006 requires U5 lo report to you if. In our opinion". adequate accounting records have nol been kept. or return5 adequale lor our audit have not been received from branches not visiled by us." or the financial slalemenls afe not in agreement with the accountin9 records and felurns.. or certain disclosufes ol Trustees. remuneration specified by law are not made". or we have not received all the inlorrnation and explanalions we ¥equiie lor our audit., or the Trustees were not eniilled to pare the financial stalemenls in accordance wilb Ihe small companses regime and lake advantage of the small companies. exemptions in preparing the Trustees. repori and from the requirement lo prepare a Strategic ieport. Re5pon5ibilities of irustees As explained more fully in the trustees. responsibilities siatement. the Trustees (who ale also the directors ol the ch8r"rtable company for the purposes ol company lawl are responsible for the preparation ol the financial slalemenls and for being satisfied Ihal they give a true and fair vlew. and for such internal control as the Tru51ees determine is ne¢essary to enable the preparatK)n of financial statements that ale free lioffj material misslalefflenl, whelher due to fraud or eiror. In preparing the financial slatemenls. the Trustees are responsible for assessing the charitable company's ability lo continue as a going concern. dsclosing. as applicable. matters related to going concern and usin9 the going eoncern basis ol accounting unless the Trvslees erther intend to liquidate the charitable company or to cease operations, or have no realist atternative but to do so. Page 7
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Independent auditors. report to the Members of The Supported Fostering Services Ch?ritable Trust (continued) Auditors. re$ponsibilitie5 for the audit of the financial statements Our objectives are to obtain reasonable assuiance about whether the financial stalemenls 85 a whole are free from material misstatement. whether due to fraud or error. and to Issue an audilofs. report that Includes our opinion. Reasonable 8S5uiante is a high level ol assurance. but is not a guarantee thal an audit conduclecl In accordance with ISAS IUKI will avayS detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered mateiial If. In¢Jividvally or in the aggregate. they Could reasonably be expected lo Influence the economic decisions of use15 taken on the ba51s 01 these financial 5talements. Irre9ularitie5, includin9 fraud. are instances of non-compliance with laws and re9ulalions. We design procedures in line with our responsibilities. outlined above. to delect material misstatemen15 in respect of irregularities. including fraud. The extenl to which our procedures ale capable of ¢electin9 iiregularilies. Including fraud is detailed below. As parl of an al11 in accordance wilh ISAS IUKI. exercise professional juogemenl and maintain professional sceplicism through the au(Jit. We also. 1. Assessed the su5ceplibility of the enitity's financial $talements lo material misslatemenl. including how Iraud might occur. 2. Held discussion5 Wlth the client regarding their pol and procedures on compliance with laws and regulations. 3 Held discussions with Ihe clienl regarcjing theii policEs and procedures on fraud fisk5. Including knowledge ol any aclual su5pecled or alle9ed fraud. We consider the entity's controls effective in Identifying fraud We do not consider there to be signilicant diffi'culty in deteeling irregularaties due lo the low volume, high value nature ol project5 undertaken A further description of our responsibilrties foT the audil of the financial sfafemenls is located on the Financial Reporling Council's website at www frc.or ukjaudilofsres onsibililies. This description forms part ol our audilors. por{. Use ofour report This report is made solely 10 Ihe chariiable company's members. as a body. in accordance with Chapter 3 01 Part 16 of the Companies Act 2006 Our audil work has been undertaken so Ihal we might slate lo the charitable company's members those matters we are required to $18[e to Ihem in an 8udiiors' report and lor no Olher purpose. To the fullest extent permitted by law. we do not accept or assume responsibility lo anyone other than the charitable company and its members. as a l)ody. for our audit work. foc this report. or lor Ihe opinions we have formed. Alastair Crawford FCA (senior statutory auditor) for and on behalf of William5 Giles Professional Ser¥i¢es Ltd 12 Conqueror Court Sittingbourne Kent ME10 58H Date.. 13 Page 8
The Supported Fostering Services Charitable Trust {A company limited by guarantee) Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2021 Unrestricted funds 2021 Restrietèd funds 2021 Total funds 2021 Total lunds 2020 Note Income from: Charitable aclivitEs Other income 1.780.787 2.385 8.406 1,789,193 2.385 1, 771,226 14.341 Total income 1.783.172 8.406 1.791.578 1. 785.56f Expenditure on.. Charitable aclivilies 1,684,647 8,406 1,693,053 1,69Q,927 Total expenditure 1.684.647 8,406 1,693,053 1.690, 927 Net movement in funds 98.525 98,52S 94.640 Reconciliation of funds.. Total funds brought forward Net movement In funds 586,067 98.525 586.067 98.525 497.427 94,640 Totsl funds carried forward 684,592 684.592 586. Q67 The Statement of financial activities includes all gain5 and losses cecognised in the year. The notes on pages 12 to 22 fomi part of these financial slatements. Page 9
The Supported Fostering Services Charitable Trust (A cofflpany limited by 9uarantee) Registered number.. 03671965 Balance sheet as at 31 March 2021 2021 2020 Note Fixed assets Tan9ible assets 2.373 3.542 2.373 3.542 Current assets Debtors Cash al bank and in han¢J 10 115,374 910.407 182,904 647.731 1,025,781 830,635 Creditors.. amounls falling due wrthin one year 11 1291,0621 (248. 7 10) Net current assets 734,719 582. 525 Totsl assets less current liabilities 737.092 586. Q67 Provisions lor liabilities 152.5001 Net assets excludrng pension asset 684,592 586. (167 Total net assets 684.592 586. Q67 Charity funds Unreslricled funds 14 684.592 586.067 Total funds 684.592 586.067 The Trsjslees acknowledge their responsibililies for complying with the requirement5 01 the Acl with respect lo accounting records and preparation of linancial staiemenls. The Iinancial statements have been prepared in accordance wilh the provisions applicable lo enlilies subiecl lo the small companies regirne. The financial statements were approved and aulhorised for issue by the Truslees and signed on theii behalf by. Richard Pickett Truslee Date". The notes on pa9es 12 10 22 form part of these financkal statements. Page 10
The Supported Fosiering Seryices Charitable Trust IA company limiled by guaranteel Statement of cash flows for the year ended 31 March 2021 2021 2020 Cash flows from op*rating aGtivitiès Net cash used in operaling activities 262,676 23,339 Cash flow$ from investing activities Puichase of tangible fixed assets (5391 Net cash provided byllused in) investing activitie5 1539 Change In cash and cash equivalent5 in Ihe year Cash and cash equivalents at the beginning of Ihe year 262.676 22,800 647,731 624. 931 Cash and cash equivalents at the end of the year 910.407 647.731 The notes on pages 12 to 22 lorm part of these financol statements P8ge11
The Supported Fostering Services Charitable Trust IA Company limited by guarantee) Notes to the financial statements for the year ended 31 March 2021 General information The Supported Fostenng seice5 Charrtable Trust is a charrty incoiporated In England and Vvales. The trusl's re9lSteied number and registered ofti¢e can be found on the Administrative Oetails page. The company is a company limited by guaiantee. In the event ol Ihe cornpany being wound up, the liabilily in respect ol the guarantee Is limited to £10 per member ol the company. Accounting policies 2.1 Basis of pparation of finan¢ial Siatements The financial slalefflents have been prepared In accordance wilh the Chafities SORP IFRS 1021 Accounting and Reporting by Charilies. Slatemenl ol Recommended Pra¢tice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Sl8ndar¢ applieable in the UK and ftepubl of Irelane IFRS 1021 (effective Octotrier 20191, the Financial Reporting Slandard applicable in the UK and Republic ol Ireland IFRS 102) and Ihe Companies Act 2006. The Supported Fostering Services Charitable Trust meels the definition of a pvblic benefit enlily under FRS 102. Assels and liabilities are initially rectyJni5ed at histoncal cost or Iransaclion value unless otherwise slated in Ihe relevant accounling policy. 2.2 Income All Income is wognised once the challty has erblillement lo the income, rt Is probable that the income will be received and the amount ol income receivable can be measured reliably. Other income is recognised in the period in which il is receivable and to the extent the goods have been pcovided or on completion of the sernice 2.3 Expenditure Expenditvre is re¢ognised once Ihere Is a le9al or constructive obloation lo Iransler economic benelil to a third party. Il Is probable Ihat a transfer ol economic benefits will be required In selllernent and the amount of the obligation can be measured ieliably Expendituie is ¢135sified by aclivily The costs ol each activity are m8de up ol the total of direct COSIS and shaied costs, Includin9 SUPPOrt cosls involved In undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activrty. Shared costs which contribute to more than one activity and 5UPPOrt costs which are not attributsble to a single activity are apportioned between those activities on a basis consistent with the use ol resources. Central staff costs are allocaled on the ba$15 01 time spent, and deprecialion charges allocated on the portion ol the asset's use. Expendityre on charitable activit$ is incuried on directly un(ferlakin9 Ihe aclivilip5 which further the Charity's obieclives. as well a5 any associated support ¢osl5. All expenditure is in¢lusive of iirecoverable VAT. 2.4 Taxation The charity is exempl from cofporatKJn tax on its charitable activities. Page 12
The Supported Fostering Servicès Charitable Trust IA company limiled by guarantee) Notes to the financial statements for the year ended 31 March 2021 Accounting policies Icontinuedl 2.5 Tangible fixed assets and depreciation Tangible fixed as5els costing £1.000 or more are Capilalised and recognised when luluie economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assels are initially recognised al cosi. After recognilion. under the cost model. langible fixed assets are measured ai cost less accvmulated depreciation an(S any accumulated ¢mpaimiet)I losses. All costs incurred to bring a tangible fixed asset into its Intended workin9 condition should be included in the measurement of cost. Depreciation is charged so as lo 3lk)cate the cost of tangible Iixed assets less their residual value over their estimated useful live5. on a reducing balance ba51S. DeplatIOn is provKled on the following basis.. Fixtures and litlings Compuler equipmenl 25Yo on reducin9 balance 33% on ducIng balance 2.6 Debtors Trade and other (Jeblors are recognised al the settlement amounl after any trade discount offered. Prepayments are valued al Ihe amounl prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash al bank and In hand includes cash and short-lemi highly liquid investments with a short malurily of three monlhs or less from the dale ol acquisrtion or openin9 01 the deposit or Similar account. 2.8 Liabilities Liabililies and provisions are recognised when Ihere is an obligation al the balance sheel dale a5 a result of a past evenl. it is probaf)le that a transfer ol Èconomic benefit will be iequired in selllemenl, and the amouni of the settlement can be esiimaied ieliably Liabilities are iecognised at the amount that Ihe chaiity anlicipates it will pay lo settle the debt or the amount Il has received as advanced payments for the goods or services it musl provide. Provisions are measured at Ihe best estimate ol the amounts required to sellle the obligation. Where the effect of Ihe time value ol money is rnaterial. the provision 15 based on the present value ol Ih05e amounts, rliscounled al the pre-tax discount rale that rellecls the risks specifi¢ to the liability. The unwinding of the discount Is reco9nised in Ihe Statement ol fjnancial activities as a finance cost. 2.9 Financial instruments The charity only has financial asseis and financial liabilities of a kind that qualify as basic linancial inslrumenls. Basic financial instruments are initially re¢ognised ai Iransaclion value and subsequently measured al their settlement value with the exceplion of bank loans which are sub5equenlly measured al amortised ¢osl using the effective tnterest method. 2.10 Pensions The charity operalev J dcfjned contribulpJn pensiol) scheme and Ihe pension chaige iepresenls Ihe amounls payable by the charrty lo the fund in respecl of Ihe year. Page13
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Notes to the financial statements for the year ended 31 MarGh 2021 Accounting policies (continued) 2.11 Fund accounting Genefal funds are un$trted funds whh are available for use at the discret of the Trustees in furtherance of the general objectives of the charity and which have not been designated for olhei purposes. Restricted funds #re funds which are to be vsed In accordance with specific restriclions imposed by donors or which have been raised by the charity foi partKtslar purposes. The costs ol raising and adminislering such funds ale charged againsl Ihe specific fund. The aim and use of each reslri¢(ed fund is sel out in Ihe notes lo the ftnancial stalements. Income from charilable activities Unresiricted funds 2021 Restricted funds 2021 Total funds 2021 Total lunds 2020 Fostering income Other income 1.780.787 1,780,787 8,4Q6 1. 762.82Q 8.406 8.406 Total 2021 1.780.787 8.406 1.789,193 1. 771. ?26 Total 2020 1 762.820 8.406 1. 771.226 Other incoming resources Unrestricted funds 2021 Total funds 2021 Tolal lunds 2020 Other incoming resources 2.385 2,385 14.341 T81202Q 14.347 14.347 Pa9e 14
The Supported Fostering Service5 Charttable Trust IA company limited by guarantee) Notes to the financial statements for the year ended 31 March 2021 Analysis of expenditure on ¢hariiable activities Summary by fund type UnTesiri¢ted Restricted funds funds 2021 2021 Total funds 2021 Toial funds 2020 Foslering services 1.684,647 8406 1,693,053 1, 690. 92T Tolal 2020 1.682.521 8.406 1. 690.927 Auditor5. remuneration 2021 2020 Fees payable to the charity's auditor for Ihe audit of Ihe chaiitys annual accoun15 5,500 Fees payable to the charity's auditor in SpeCt ot. All non-audit services not included above 2.400 2.400 Staff costs 2021 2020 Wa9es and salaries Sccial security costs Contribution to defined confnbution pension schemes 365,377 30,861 29,775 360. 549 37.179 30,090 426.013 427.878 The average number of persons employed by the charrty dur¢ng the year was as follows.. 2021 No. 2020 Admin Finance Social woikers Page 15
The Supported Fostering Servires Charitable Trust IA company lirnited by guarantee) Notes to the financial statements for the year ended 31 March 2021 Staff costs Icontinuedl No employee received reMneratn amunlin9 to more than £60.000 in either year. Key management personnel receiveo remuneration totalling £45.00012020- £45,000) during the year. Trustees. remuneration and expenses Ouring the year. no Trustees received any remuneration or olher benefits {2020- £NILJ. During the year, no Trustess re¢eive(l any expenses12020 - £61. Page 16
The Supported Fostering Services Charitable Trust (A company limited by guaranieel Notes to the financial statements for the year ended 31 March 2021 Tangible fixed assets Fixtures and fittings Computer equipment Total ost or valuaiion Al 1 April 2020 1,538 6.780 8,318 At 31 Maich 2021 1.538 6.780 8,318 Depreciation At 1 April 2C120 Charge lor the year 1,527 3.249 1,165 4,776 1,169 Al 31 March 2021 1,531 4,414 5,945 Net book value Al 31 March 2021 2,366 2.373 At 31 March 20ZO 17 3.537 3.542 10. Dgbtors 2021 2020 Due within one year Trade debtors Other debtofs Prepayments and accrued Income 100.600 166. 795 92 16,017 14.774 11 5,374 782.904 Page 17
The Supported Fostefing Services Charitable Trust IA company limited by guarantee) Notes to the financial statements for the year ènded 31 March 2021 11. Creditors.. Amounts falling due within one year 2021 2Q20 Trade creditors Other tsxalion and soc1 securily Other cre<Jitors Accrua15 and deferred inc¢)me 4,325 9.143 200,574 77,020 4.030 8, 708 187.572 47.800 291.062 248.110 12. Financial instruments 2021 2020 Financial assets Financial assets measured al lair value through income and expenditure 910.407 647.737 2021 2020 Financial liabilities Financial liabilities measured at amortised cosl 1221,9191 (239.402) Financial assels measured at fair value Ihrough income and expendilure comprise cash al bank and in hand. Financial assets that are debt instruments measured al arnortised cost cornprise trade and Dlher debtors. Financial liabilities measured al amortb5e(I $t comprise Irade and other credilors. 13. Provisions Young Ppoples Grant5 Dilapidation expense Total A(Idilion5 32.500 20,000 52,500 32,500 20.000 52,500 Ouring the year, two provisions have been provKJed for. being.. A provision of £32.500 has been made lor dilapidations for the property in whKh the charily operates in. This provision covers the last 15 years ol use in the property. The second provision Is in relation to leaving care costs. which 15 a 9fant given to young people who leave to lind alternative acc0mmodalK_ Page 18
The Supported Fostering Services Charitable Trusi IA company limiied by guarantee) Notes to the financial statements for the year ended 31 March 2021 14. Statement of funds ststement of funds - current year Balance at 31 March 2021 Balance at 1 April 2020 Income Expenditure Unrestricted funds General funds 586.067 1,783,172 11,684.6471 684.592 Restricted funds BBC Children in Need 8.406 18.406) Total of funds 586,067 1,791,578 11.693,0531 684,592 Statement of funds - prior year Balance al 3t Ma 2Q20 Balance ai l Aprrf 2019 Income Expendilu Unrestricted funds General funds 491.427 1. 777. 161 11, 682,521J 586,067 Restricted funds BBC Children in Need 8.406 f8.406J Total of funds 491,427 1, 785,567 (1.690.927) 586,067 Page 19
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Notes to the financial statements for the year ended 31 March 2021 15. Summary of funds Summary of funds- current year Balance at 31 March 2021 Balance at 1 April 2020 Income Expenditure General funds Reslricled funds $86.067 1.783,172 11.684.647) 8,406 18.4061 684,592 586.067 1.791.578 11.693.0531 684.592 Summary of funds - prior year Balance al 37 M8rch 2020 Balance at 1 Apnl 2019 Income Expendilu General fvntts ReslrKled lund5 497.427 1. 777. 767 8,406 (1.682, 527J (8,406) 586.067 491. 427 1. 785. 567 (1.690, 927J 586.067 Page 2Q
The Supported Fosterin9 Services Charitable Trust IA cornpany limited by guarantee) Notes to the financial statements for the year ended 31 March 2021 16. Analysis of net assets between funds Analysis of net assets between funds - curn1 year Unrestricted funds 2021 Total funds 2021 Tan9ible fixeil assets Current assets 2.373 1.025,781 1291,0621 152,5001 2,373 1.025,781 (291,0621 152,5001 Creditors due within one year Provisions lor liabilities and charges Total 684.592 684,592 Analysis of net assets between funds - prior year Unreslricled lunds 2020 Total funds 2020 Tangible fixed assets Current assets Creditors due within one year 3.542 830.635 {248. 110) 3,542 830.635 (248. 7 IOJ Total 586.067 586,067 17. Reconciliation of net movement in funds to net cash flow from operating activities 2021 2020 Nel income for the yeaf las per Statemenl ol Financial Acliviliesl 98.525 94,640 Adjustments for- Oepreciation charges Decrease In debtors 1,169 67,530 42,952 24.874 62. 346 (205, 85T) 47.336 Increaselldecrease) in creditors Loss on Ihe disposal of fixed asse15 Increase in prowsions 52,500 Net cash provided by operatin9 activities 262,676 33.339 Pa9e 21
The Supporte<l Fostering Services Charitable Trust IA company limited by guaranleel Notes to the financial statements for the year ended 31 March 2021 18. Analysis of cash and cash equivalènts 2021 2020 Cash In hand 910,407 647. 731 Total cash and cash equivalents 910,407 647.731 19. Analysis of changes in net debt At 1 April 2020 Cash flows At 31 Mar¢h 2021 Cash at bank and in hand 647.731 262,676 910,407 647,731 262,676 910,407 20. Pension commitments The company operates a defined contribution pension scheme. The assels of the scheme are held separately from Ihose of the company In an indepenoenuy adminislereL1 fund. The pension c051 charge iepre5ents conlributions payable by Ihe company to the fund and amounts 01 £8 12020 - tNIll were payable lo the lund at the balance sheet date and are included in ¢reditors. 21. Related party transaciions During Ihe year D Clode. a Iruslee was pa £2.25012020 - £4.0861 Iof social Wofk services. No amounls were oylstandin9 as al 31 Mafch 2021 {2020 - £Nill. All transactions were paid at market rate5. Page 22