Reglstered number: 03671965
Charfty number: 1087447
The Supported Fostering Services Charitable Trust -..
(A company limitsd by guarantee)
Trustees. reiiort and financial statéments
for the year ended 31 March 2024

The Supported Fostering Services Charitable Trust
(A company Ilmlted by guarantee)
Contents
Page
Reference and administrative details of the charity. its Trustees and advisers
Trustees. report
Trustees, responsibilities statement
Independent auditors, report on the financial statements
Statement of fjnancial activities
10
Balance sheet
Statement of cash flows
12
Notes to the financial statements
13-23

The Supported Fosterlng Services Charltable Trust
(A company limited by guarantee)
Reference and administratlve detalls of the charfty, its Trustees and advlsers
for the year ended 31 March 2024
Trustees
Derek Clode
Dr Michael Davies
Jane Waterhouse
Jamie Braddock (appointed 16 April 2024)
Company registered
number
03671965
Charity registered
number
1087447
Registered office
12 Conqueror Court
Sittingbourne
England
ME10 5BH
Principal operating
office
4 Richmond Road
Cardiff
Wales
CF24 3AS
Independent auditors
Xeinadin Audit Limited
Chartered Accountants -" ""
ststutory Auditor
12 Conqueror Court
Sittingboume
Kent
ME10 5BH
Bankers
National Westrninster Bank PIC
3 High Street
Maidstone
Kent
ME14 1XU
Page 1

The Supported Fostering Services Charltable Trust
(A company limited by guarantee)
Trustees, report
for the year ended 31 March 2024
The Trustees present their annual report together with the audited financial statements of the charity for the
year 1 April 2023 to 31 March 2024. The annual report seNes the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confimi that the annual report and financial statements of
the charitable company comply wtth the current statutory requirements, the requirements of the charitable
company's goveming document and the provisions of the Statement of Recommended Practice (SORP)
"applicable to charities préparing thèir accounts in accordance with the Financial Reporfing Standard applicab-le
in the UK and Republic of Ireland {FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required
of medium and large companies under the Companies Ad 2006 (Strategic Report and Directors, Report)
Regulations 2013 has been omitted.
The charity also trades under the names SFS Charitable TrusL
Objectives and activtties
a. Policjes and objectives
The charitable company's objects are to provide support services to those companies working within the
independent fostering industry. This would include seNices such as foster support services, educational
seNices, therapy services. social work seNices and administration servi￿S, although the charity may offer
olher support services on an adhoc basis rf requested by their customers.
In setting objectives and planning for actNities. the Trustees have gNen due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running
charity (PB2)'.
Achievements and perfomiance
a. Charitable activities
The charity recruits, supports and trains foster carérs in Wales matching the d￿￿erent needs of children in care.
referred by local authorities. to the different skills and abilities of those carers.
b. Key perfonnance indicators
The company has seen a 220/0 increase (2023 - 8.8% increase) in incoming funds with costs increasing by
21 OA, {2023 _ 9.00/0 increase) resulting in a surplus in the year.
We consider the two key perfonnan¢e indicators are tumover and the surplus or deficit for the year, and given
the nature of the business we consider more detailed analysis not necessary for the understanding the
performance of the business.
The charty continues to have significant resepiés to create a buffer against further reductions in income.
Page 2

The Supported Fostering Services Charitable Trust
(A company limlted by guarantee)
Trustees. report (continued)
for the year ended 31 March 2024
Achievements and performance (continued)
¢. Review of activities
..A.massive thank you.to all our families. And we really mean the whole family as there- are marly birth children,.
growing up in households who foster. They are an important part of the fostering experience for children and
young people. .,-.
Also, a thank you to all the staff who have continued to offer the best support to everyone. .
Our children looked after have made significant progress during the year. Well done.
Welsh Govemmenl have set out a timetable for their programme to eliminate prof5t from the care of children
looked after. By 2027 for profit organisations will not be permitted to operate in Wales. However, we are
waiting for detail on exactly how this will be implemented. Decisions regarding the specific types of
organisation that will be acceptably to provide fostering services have yet to be announced. In any event as a
register charity, we are exactly the type of provider they want.
The demand for pla￿ments remains very high. Some children and young people who have been assesses as
having their needs met within a fostering environment are being placed by local authorities in residential due to
lack of placement availability.
Recruitment of foster carers remains challenging. This is an issue across the UK with the net number of carers
reducing. Despite millions of pounds being invested by Welsh Govemment in Foster Wales to recruit Ioc81
authorty carers this has not reversed the trend.
There have been no CIW inspections during the last year as they have focused their efforts on safeguarding
issues elsewhere and monitoring unregulated Servi￿$.
The trustees are considering expanding the number of trustees on the board in order to broaden the range of
skills and experience available to SFS. We believe a small board can be effective and is proportionate to the
size of the organisation, however. at least one additional member should assist organisational development
The Board are very grateful for the unstinting commitment and dedication from everyone. It is you that makes
SFS the organisation it is and the organisation that is able to make a positive impact on the lives of so many
children and young people.
Financial review
a. Gotng ¢oncem
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to
adopt the going contsrn basis in preparing the financial statements. Further details regarding the adoption of
the going concern basis can be found in the accounting policies.
Page 3

The Supported Fostering Services Charltable Trust
{A company Ilmited by guarantee)
Trustees. report {¢ontlnuedj
for the year ended 31 March 2024
b. Reserves policy
The Reserves Policy sets out for stakeholders why vie are holding a particular level of reserves. Resérves arè
necessary to ensure the organisation is properly managed and provide resilience to meet foreseeable and
unforeseeable circumstances.
We monitor reserves during the year as part of our budgetary process and financial monitoring. These
reserves are higher than they might be as we make financial decisions ahead of the financial year based on
estimates. Local Authority fee settlements are frequently not made until the middle of the financial year
therefore we must bridge potential gaps. We also need working capitsl to provide sufficient liquidity.
The level of reserves is infomed by our forecasts of income for the current and future years alongside
forecasts of expenditure on the basis of planned activity. Analysis of future needs, opportunities, commitments
and risk. where future income alone is likely to fall short of the amount of the anticipated costs. Assessments if
the likelihood of a shortfall arising which means that reserves are necessary.
The Trustees consider it prudent lo maintsin reseNes of at leasl six months operating expenditure in line with
many organisations.
In addition, a designated reserve fund is being estsblished to allow for future improvement and expansion of
setvices for children. young people and foster parents.
Structure, governance and management
a. Constitutlon
The Supported Fostering Services Charitable Trust is registered as a charitable wmpany limited by guarantee
and was sel up by a Trust deed.
b. Methods of appointment or election of Trustees
The directors of the company are atso charity trustees for the purposes of charity law.
When considering co-opting new trustees. the board has regard to the requirement for any specialist skills
needed.
c. Policies adopted for the induction and training of Trustees
Most trustees are already familiar with the workings of the chanty having relevant experience.
New trustees are invited and encouraged lo attend a series of Iraining services to familiarise themselves with
the charity. These are led by the company secretary and senior management and cover..
Ih@ obligations of the trustees as directors and trustees.
the main documents governing the operation of the charity.
the current and future plans and objectives.
d. Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, particular those related to the
operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigale
exposure to the major risks.
Page 4

The Supported Fostering Services Charitable Trust
(A company limited by guarantee)
Trustees, report (continued)
for the year ended 31 March 2024
Structure) governance and management (continued)
e. Organlsational structure and decision making
The board of trustees-meets on a regular basis to administer the charity.
The day to day management is delegated to senior management who reports to the board on operational
issues.
f. Board changes
The Board welcomed a new Trustee. Jamie Braddock. on 16 April 2024.
Plans for future perlods
The Board of Trustees are ever watchful regarding developments in the fostering sector. The intention is the
continue to provide a good or indeed outstanding service to the young people that the charity looks after and to
the local authorities who place these young people.
Auditors
The auditors. Xeinadin Audit Limited, have indicated their willingness to continue in office. The designated
Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of TTUStees and signed on their behalf by:
Derek Clode
Trustee
Date..
Page 5

The Supported Fostering Services Charitable Trust
(A company limited by guarantee)
Statement of Trustees. responsibilities
for the year ended 31 March 2024
The Trustees (who are also the directors of the charty for the purposes of company law) are responsible for
preparing the Trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company
law, the Trustees must not approve the financial ststements unless they are satisfied that they give a true and
fair view of the state of affairs of the chawity and of its incoming resources and application of resources,
including its income and expenditure. for that period. In preparing these financial statements, the Trustees are
required to:
select suitable accounting policies and then apply them consistently,.
observe the methods and principles of the Charities SORP (FRS 102)"
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any
material departures disdosed and explained in the financial statements;
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the charity will continue in business.
The TTUStees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charty
and enable them to ensure that the financial statements comply WFth the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
Derek Clode
Trustee
Date. loi
Page 6

The Supported Fostering SeNices Charitable Trust
(A company limited by guarantee)
Independent auditors. report to the Members of The Supported Fosterlng Servlces Charitable Trust
Opinion
We have audited the financial statements of The Supported Fostering Services Charitable Trust (the '¢harity')
for the year ended 31 Mèrch 2024 which ￿MpriSe the statement of financial activities, the balance sheet, the
-statement of cash flows and the related notes, including a suminary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of reSoUr￿s, including its income and expenditure for the year then
have been properly prepared in accordance wth United Kingdom Generally AC￿pted Accounting
Practi￿., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities
for the audit of the financial statements section of our report. We are independent of the charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial statements in the United
Kingdom. including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical
responsibilities in accordance wtth 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 golng concern
In auditing the financial statements. we have concluded that the Trustees, use of the going Gon￿rn basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast signrficant doubt on the charitable company's ability to
Continue as a going concern for a period of at least Iwelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees wilh respect to going concern are described in the
relevant sections of this report.
Page 7

The Supported Fosterlng Servlces Charltable Trust
(A company limited by guarantee)
Independent auditors. report to the Members of The Supported Fostering SeNices Charitable Trust
(continued)
Other information
The other information comprises the information included in the annual report other than the financial
' slatements and our auditors, report thereon. The Trustees are responsible for the other information contained
within the annual Teport. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report. we do not express any form of assuran
conclusion thereon. Our responsibility is to read the other infomjation and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge oblained in the
course of the audit, or othetwise appears to be materially misstated. If we identify such material
inconsistencies or apparent matertal misstatements. we are required to determine whether this gives rise to a
material misstalement in the financial statements themselves. If, based on the work we have performed, we
conclude that there is a material misstatement of this other infomiation, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter5 prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit:
the information given in the Trustees. report for the financial year for which the financial statements are
prepared is consistent with the financial ststements.
the Trustees, report has been prepared in accordance wilh applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identif￿d material misstatements in the Trustees, report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us lo report to you if, in our opinion-.
adequate accounting records have not been kept. or returns adequate for our audit have not been
received from branches not visiied by us. or
the financial ststements are not in agreement with the accounting records and relums; or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the infomiation and explanations we require for our audit- or
the Trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies. exemptions in preparing the Trustees,
report and from the requirement to prepare a Strategic report.
Responsibilities of trustees
As explained more fully in the trustees. responsibilities statement. the Trustees (who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view. and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charilable company's
ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the
going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to
cease operations, or have no realislic alternative but to do so.
Page 8

The Supported Fosterlng Services Charitable Trust
, (A company limited by guarantee)
Independent auditors, report to the Members of The Supported Fostering Services Charitab18 Trust
{Gontinued)
Auditors, responslbilltles for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free
'from material misstatement, whether due to fraud or e￿or, and to issue an auditors, report that includes our
opinion. Reasonable assuran￿ is a high level of assurance. but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are ¢onsidered material if. indtvidually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularsties, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of
irregularities, induding fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detsiled below:
As part of an audit in accordance with ISAS (UK), exercise professional judgement and maintain professional.",:
scepticism through the audit. We also:
1. Assessed the susceptibility of the entity's financial statements to material misstatement. including how fraud
may occur.
2. Held discussions with the client regarding their policies and procedures on compliance with laws and
regulations.
3. Held discussions with the client regarding their policies and procedures on fraud risks, including knowledge
of any actual suspected or alleged fraud.
We consider the entity's controls effective in identifying fraud. We do not consider there to be significant
difficulty in detecting irregularities.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website aL www.frc or
.uklauditorsres
nsibilities. This description foms part of our
auditors, report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditors, report and for no
other purpose. To the fullest extent pemitted by law, V￿ do not accept or assume responsibility to anyone
other than the charitable company and its members. as a body, for our audtt work, for this report, or for the
opinions we have fomed.
Samuel Ketcher FCCA (senior statutory auditor)
for and on behalf of
Xelnadin Audit Limited
Chartered Accountants
Statutory Auditor
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH
Date:
o lol4
Page 9

The Supported Fostering Services Charttable Trust
(A company limited by guarantee)
Statement of flnancial actlvltles (incorporating Income and expenditure account>
forthe year ended 31 March 2024
Unrestrlcted
funds
2024
Total
funds
2023
' Income from:
Charitable activities
Investments
Other income
1.934,209
8.199
5,921
1,934,209
8,199
5.921
1.577,871
732
14, 126
Total Income .
1,948,329
1,948,329
1,592, 729
Expenditure on:
Charitable activities
1.628.638
1.628.638
1,491,631
Total expendlture
1,628,638
1,628,638
1,491,631
Net movement in funds
319,691
319,691
101,098
Reconciliation of funds:
Total funds broughtforward
Net movement in funds
892.201
319,691
892,201
319,691
791, 103
101,098
Total funds Carrled forward
1,211,892
1.211,892
892,201
The Statement of financial activities indudes all gains and losses recognised in the year.
The notes on pages 13 to 23 form part of these financial ststements.
Page 10

The Supported Fostering Services Charitable Trust
(A company limited by guarantee)
Registered number 03671965 .
. Balance sheet
as at 31 March 2024
2024
è 2023
Note
Fixed assets
' Tangible assets
Current assets
' 515,464
. •; 528,248
Debtors
Cash at bank and in hand
70,282
1,032,236
137,569
624,679
1,102.518
762.248
Creditors". amounts falling due within one
year
12
1223,190)
(215,395)
Net current assets
879,328
, 546,853
Total assets less current IlabllFtles
1.394.792
1,075, 101
Provisions for liabilities
(182,900)
(182,900)
Total not assets
1.211.892
892,201
Charity funds
Restricted funds..
Unrestricted funds
15
1,211,892
892,201
Total funds
1,211,892
892,201
The Trustees acknowledge their responsibilities for complying viith the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf
by..
Derek Clode
Trustee
Date. IF Dece*Trkn IoL4
The notes on pages 13 to 23 fonn part of these financial statements.
Page 11

The Supported Fostérlng Servlces Charitable Trust
(A company limited by guarantee)
Statement of cash flows
for the year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net.cash used in.operating activities_
132,7.85
Cash flows from Investlng activities
Purchase of tangible fixed assets
(433)
Net cash provided byl(used in) investing activities
(433)
Change In cash and cash equSvalents In the year
Cash and cash equNalents at the beginning of the year
407,557
132,352
624,679
492,327
Cash and cash equivalents at the end of tho year
1,032.236
624, 679
The notes on pages 13 to 23 form part of these financial ststements
Page 12

The Supported Fostering SeNices Charitable Trust
(A company limited by guarantee)
Notes to the financial statements
for the year ended 31 March 2024
General inforniation
The Supported Fostering ser￿￿s Charitable Trust is a charity incorporated in England and Wales. The
trust's registered number and registered office can be found on the Administrative Details page.
The company is a company limited by guarantee. In the event of the company being wound up, the
liability in respect of the guarantee is limited to £10 per member of the company.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102) -
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) (effective October 2019), the Financial Reporting
Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006.
The Supported Fostering se￿ices Charitable Trust meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value
unless otheNise stated in the relevant accounting policy.
The financial statements are prepared in GBP and rounded to the nearest pound.
2.2 Income
All income is recognised once the Charity has entrtlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one
activity and support costs which are not attributable to a single activity are apportioned be￿een
those activities on a basis consistent with the use of resources. Central staff costs are allocated on
the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further
the charity's objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 13

The Supported Fostering Services Charitsble Trust
(A company limited by guarantee)
Notes to the financial statements
for the year ended 31 March 2024
Accounting policles (continued)
2A Interest receivable
. Interest'on funds held on" deposit is induded when receivable and the amount can be measured,
reliably by the charity. this is normally upon notification of the interest paid or payable by the
instttution with whom Ihe funds are deposited.
2.5 Taxation
The charity is exempt from corporation tax on its charitable activities.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £1.000 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially re￿nised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible !Ixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value
over their estimated useful lives. on a reducing balance basis.
Depreciation is provided on the following basis:
Freehold propety
Fixtures and fittings
Computer equipment
20A straight line
250A on reducing balance.
330A on reducing balance
2.7 Debtor3
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-teTm highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.9 Liabilities
Liabilities and provisions are recognised when there is an obligation at the balance sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in
settlement, and the amount of the settlement can be ests'mated reliably.
Liabilities are reo)gnised at the amount that the charity anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or seNices it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material, the provision is based on the present
value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the
liability. The unwinding of the discount is re￿gnised in the ststement of financial activities as a
finance cosL
Page 14

The Supported Fostering SeThices Charitablè Trust
(A company limited by guarantee)
Notes to the financlal statements
forthe year ended 31 March 2024
Accountlng policies {continued)
2.10 Flnancial instruments
. Thè charity only has financial assets and financial liabilities of a kind that qualrfy as basic financial,.
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.11 Penslons
The charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the charity to the fund in respect of the year.
2.12 Fund a¢¢ounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
Purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income. gains and losses are allocated to the appropriate fund.
Income from charitable actlvltles
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
rolal
funds
2023
Fostering income
Other income
1,934.209
1.934,209
1,568, 713
9,758
Total 2024
1,934,209
1,934,209
1,577,871
Total 2023
1,568, 713
9,158
1,577,871
Page 15

The Supported Fostering Services Charitsble Trust .
(A Company limited by guarantee)
Notes to the financlal statements
forthe year ended 31 March 2024
Investment income
Unrestrlctsd
funds
2024
Total
funds
2024
Total
funds
2023
Investment income
8,199
8,199
732
Total 2023
732
732
Other Sncoming resources
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Other incoming resour￿$
5.921
5,921
14, 126
Total 2023
14,126
14, 126
Analysis of expendlture on charftable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2024
2024
Total
2023
2024
Fostering seniices
1,628,638
1,628,638
1,491,631
Total 2023
1,482,473
9.158
1,491.631
Page 16

The Supported Fostering Services Charitable Trust
(A company Ilmlted by guarantee)
Notes to the financial statements
for the year ended 31 March 2024
Auditors, remuneration
2024
'Fees payable to the charity's auditotfor the audit of the Chari￿8 annual
accounts
6.035
5, 750
Fees payable to the charIt￿S auditor in respect of:
All non-audit services not included above
1,890
1,800
Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
328,448
31,916
29.000
338, 727
29,454
29,126
389,364
397.307
The average number of persons employed by the charity during the year was as follows..:
2024
No.
Admin
Finance
Social workers
10
11
12
The number of employees whose employee benefits (exduding employer pension costs) exceeded
£60.000 was:
2024
2023
In the band £60,001- £70,000
Key management personnel received remuneration totalling £49,838 (2023 - £47,370) during the year.
Trustees. remuneration and expenses
During the year, no Tnjstees received any remuneration or other benefits (2023- £NIL).
During the year, no Trustees ￿￿1Ved any expenses (2023 - £Nil).
Page 17

The Supported Fostering SeNices Charitable Trust
(A company limitsd by guarantee)
Notes to the financial statements
for the year ended 31 March 2024
IO. Tangible fixed assets
Freehold
land and FSxtures and
Computer
equipment~
￿4￿%iS@*￿. ""buildings .-
rittings'-
Cost or valuatlon :_
At 1 April 2023 .
525.512
19,734
6,780
552,026
At 31 March 2024
525,512
19,734
6,780
552,026
Depreciation
At 1 April 2023
Charge for the year
10.267
9.477
5,718
361
23,778
12,784
2,956
At 31 March 2024
19,744
10,749
6.069
36,562
Net book value
At 31 March 2024
505.768
8,985
711
515,464
At 31 March 2023
515.245
11,941
1,062
528,248
Included in freehold land and buildings is freehold land at deemed cost of £51,677 (2023 £51,677),
which is not depreciated.
11. Debtors
2024
2023
Due within one year
Trade debtors
Prepayments and accrued income
51,707
18,575
120,440
17,129
70,282
137,569
Page 18

The Supported Fosterlng Services Charitable Trust
(A company Ilmited by guarantee)
Notes to the financlal statements
for the year ended 31 March 2024
12. Creditors: Amounts falling due within one year
2024
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
5,198
6,722
160,037
51,233
3,962
6, 884
155,265
49,284
223,190
215,395
13. Financial instruments
2024
2023
Financial assets
Financial assets measured at fair value through income and expenditure
1.032,236
624, 679
2024
2023
Financlal Ilablllties
Financial liabilities measured at amortised cost
(243,354)
(215,395)
Financial assets measured at fair value through income and expenditure comprise cash at bank and in
hand.
Financial liabilities measured at amortised cost comprise trade and other creditors.
14.
Provisions
Peoples
Grants
At 1 April 2023
182,900
At 31 March 2024
182,900
The Young Peoples Grant provision is in relation to leaving care costs, which is a grant given to young
people who leave to find alternative accommodation.
Page 19

The Supported Fosterlng Services Charitable Trust
(A company Ilmlted by guarantee)
Notes to the financial statements
forthe year ended 31 March 2024
15. Statement of funds
statement of funds - current year
Balance.at
31 March
2024
Balance at 1
April 2023
Income Expenditure
Unrestricted funds
General funds
892,201
1,948,329 (1.628.638) 1,211,892
Statement of funds - prfor year
Balance at
31 March
2023
Balance at
1 Apnl 2022
. Income Expenditure
Unrestricted funds
General funds
791, 103
1.583,571 (1,482,473)
892.201
Restricted funds
BBC Children in Need
9, 158
(9. 158)
Total of funds
791.103
1,592, 729 (1.491, 631)
892,201
Page 20

The Supported Fosterlng Services Charltable Trust
{A company limited by guarantee)
Notes to the financial statements
for the year ended 31 Ma￿h 2024
16. Summary of funds
Summary of funds - current year
Balanco..aC.
31 March
2024
Balance at 1
April 2023
Income Expenditure
General funds
892,201
,948.329 11,628,638) 1,211,892
Summary of funds - prior year
Balance at
31 March
2023
Balance at
l Apnl 2022
Income Expenditure
General funds
Restricted funds
791. 103
1.583.571
9,158
(1.482,473)
(9, 158)
892,201
791, 103
1.592,729 (1,491,631)
892,201
Page 21

The Supported Fosterlng Services Charitsble Trust
(A company Ilmited by guarantee)
Notes to the financial statements
forthe year ended 31 March 2024
17. Analysis of net assets between funds
Analysls of net assets between funds - Current peri¢xl
Unrestricted
funds
2024
Total
2024
Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
515,464
515,464
1.102,518
1,102,518
(223.190)
(223,190)
(182.900) 1182.900)
Total
1,211,892
1,211.892
Analysis of net assets between funds - prior period .
Unrestncted
fiinds
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
528.248
528,248
762,248
762,248
(215,395) (215,395)
(182,900) (182,900)
Total
892,201
892,201
18.
Reconclllatlon of net movement in funds to net cash flow from operatlng activities
2024
2023
Net income for the period (as per Statement of Financial Activities)
319,691
101,098
Adjustments for:
Depreciation charges
Decreasel(incre£se} in debtors
Increasel(decrease) in creditors
Increasel(decrease) in provisions
12.784
67,287
7,795
13,933
(4, 755)
(140,391)
162,900
Not cash provided by operatlng actlvltles
407,557
132, 785
Page 22

The Supported Fostering SeNices Charitab18 Trust
(A company Ilmlted by guarantee)
Notes to the financial statements
for the year ended 31 March 2024
19. Analysls of cash and cash equlvalents
2023
.Cash ih-hand-"
1,032,236
.624,679
Total cash and cash equivalents
1,032,236
624, 679
20. Analysis of changes in net debt
At 1 Aprll
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
624.679
407,557
1,032,236
624,679
407,557
1,032,238
21. Penslon commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge
represents contributions payable by the company to the fund and amounts of £5,453 (2023 £5.414)
were payable to the fund at the balance sheet date and are included in creditors.
22. Related party transactions
During the year D Clode, a truslee was paid £2,500 (2023 - £3,000) for social work services. No
amounts were outstanding as at 31 March 2024 (2023- £Nil).
All transactions were paid at market rates.
Page 23