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 #307 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 Dir￿lor$. Reporti Regulations 2013 ha5 been omilted. The charity also trades under Ihe names SFS Chacitable Trust. Obje¢tives and a¢tivitigS a. Pollcles and objectives The charitable com8pny's objecis are to provide support seNices to those companies working wilhin the independenl fostering industry This would include services such as foster support services. educational services. therapy services. social work services and adminisiraiion services. althovgh the charity may offer othei support Services on an adhoc basis if requeste(I by their cv5tomeis. In setting objeclives and planning for activitie5. Ihe Trustees have given due consideration lo general guidance published by the Charity Commission relalJn9 lo public benefrt. including the 9uidance 'Public benefit.. running a charity IPB21' A¢hievements and performance a. Charitable activities The charity recruits. SUPPOrt5 and trains foster earers in Wales matching the different need5 of children in eare. referred by local authorities, lo the diffeient skills and abilit￿$ of those Ca￿rs. 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 SerV￿e 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 child￿n. 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 wh￿h 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$ational structure and decision making The board of trustees rneels on a regulaf basis to adminisler the charity. The day to day managernenl is dele9ated to sen￿r management who reports to the board on operational issues. f. Board changes We Ihank Kathleen Greenwood and Ronald Si Louis. two long standing trusiees. who reliced eady in Ihe year. Richard Pickell became Chair of Trustees. We welwme Dr Mike Davies. with his weallh ol experience, lo the board. Plans for future periods The Board of Trustees are ever watchful regarding developmen15 in the fostering sector. The intention is the conlinve lo piovide a good or In¢Jeed out51andin9 service to Ihe young people that Ihe charity looks after and lo the local aulhorities who place Ihese young people. DisGlo5ure of information to auditors Each of the persons who are Trustees al the time when thi5 TIu5tees' report is appioved has confirmed Ihal.. so lar as that Trustee is aware. there is no felevanl avdrt Inloimalion of whieh the charity's aLMYilors are unaware. and that Trustee has taken all the steps thal oughl lo have been taken as a Truslee in order lo be aware of any relevanl audil Trnformation and to esiablish Ihal the charity's auditors are aware of thal informatlon. Auditors The 3udilor5, Williams Giles Professional Services Ltd. have indicated their willingness lo continue in office. The designated Trustees will propose a motKJn reappointing the auditors at a meeting of the Tiustees. Approved by order of Ihe members of the board of Tcustees and sigried on Iheif behalf by". Richard Pickett Trustee Dale 13 Page 4 The Supported Fostering Services Charitable Tru$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 Slate￿nIS. 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 Internal￿nal 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