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 2025
Thè Supported Fostering Services Charitable Trust IA company limited by guarantee} Contents Page Reference and admlnistratlve details of the charity, its Trustees and advisers Trustees. report Trustees. responsibllllies statement Independent audilors, report on the financial statements Statement of financlal activlties Balance sheet 10 Statement of Cash flows 12 Notes to the flnancial statements 13-24
The Supported Fosterin9 Servlces Charitable Trust (A company limited by guarantee) Reference and administrative details of the charity, its Trustees and advisers for the year ended 31 March 2025 Trustees Derek Clode Dr Michael Davies Jane Waterhouse Jamie Braddock (appointed 16 April 20241 Company registered number 03671965 Charity registered number 1087447 Registered off ice 12 Conqueror Court Sittingbourne England ME10 5BH Principal operatlng office 4 Richmond Road Cardiff Wales CF24 3AS Independent auditors Xeinadin Audit Limited Chartered Accountants Slalulory ALsditor 12 Conqueror Court Siltingbourne Kent ME10 58H Bankers National Westminster Bank PIC 3 High Street Maidslone Kent ME14 1XU Page 1
The Supported F05tering Seniices Charitable Trust (A cornpany limited by guarantee) Trustees, report for the year ended 31 March 2025 The Truslees present their annual report together with the audited financial slalements of the charity for the year 1 April 2024 to 31 March 2025. The annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current slatulory requirements, the requirements of the charitable company's governing document and the provisions of the Slaternent of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) (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 Lsnder the Companies Act 2006 Istralegic Report and Direclor5' Report) Regulations 2013 has been omitted. The charity also trades under the narnes SFS Charitable Trust. Objectives and activities a. Policies and objectives The charitable company's objects are lo provide support services to those companies working within the independent fostering industry. This would include setvices such as foster support seNices, educational services, therapy services, social work services and administration seNices, although the charity may offer other support services on an adhoc basis if requested by their customers. In selling objectives and planning for activities, the Trustees have given due consideration lo gene(al guidance published by the Charity Comm ission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB2}'. Achlevements and performance a. Charitable activities The charity recruits, supports and Irains foster carers in Wales matching the different needs of chilclren in care, referred by local aulhorities, lo the different skills and abilities of those carers, b. Key performance indicators The company has seen a 16 % increase12024 220/0 increase) in incoming funds with Gosls increasing by 190/0 before accounting foT the release of the Young Persons Grar)t provision {2024 21 /0 increase) resulting in a surplus in the year. We consider the two key perfoirnance indicalors are turnover 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 charity continues to have significant reserves to create a buffer against further reductions in income. Page 2
The Supported Fostering Servlces Charitable Trust IA company limited by guarantee) Trustees. report Icontinued for the year ended 31 March 2025 Achievements and performance (continued c. Review of activlties A massive Ihank you lo all our families. And we really mean the whole family as Ihefe are many 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 Government have sel out a timelable for their pro9ramme to eliminate profil from the care of children looked after. By 2027 for profil organisations will not be permitted lo operate in Wales. However, we are waiting for detail on exa¢lly how this will be implemented, Decisions regarding the specific types of organisation that will be acceptably to provide fosterng services have yel to be announced. In any event as a register charity, we are exactly the type of provider they want. The demand for placements remains very high. Some children and young people who have been assesses as having their needs met within a f05tering 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 nel number of carers reducing. Despite millions of pounds being invested by Welsh Government in Foster Wales to recruit local authority carers this has not reversed the trend, There have been no CIVV inspections during the last year as they have focused their efforts on safeguarding issues elsewhere and moniloring unregulated services. The trustees are considering expanding the number of Iruslees 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 gralelul for the unstinting commitment ancl dedication frorr everyone. 11 is you that makes SFS Ihe organisation il 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. Golng concern Afler 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 lo adopl the going concern basis in prèparing the financial statements. Furthef details regarding the adoption of the going concern basis can be found in the accounting policies. Page 3
The Supported Fostering Servlces Charitable Trust (A company limited by guarantee) Trustees. report l¢ontinued} for the year ended 31 March 2025 b. Reserves policy The ReseNes Policy sets out for stakeholders why we are holding a particular level of reserves. ReseNes are necessary to ensure the organisation is properly man89ed and provide resilience lo meet foreseeable and unforeseeable ¢ircumslances. 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 Ihe financial year based on estimates. Local Authority fee settlements are f requently not made until the middle of the financial year therefore we must bridge potential gaps. We also need working capital lo provide sufficient liquidity. The level of reserves is informed by OLtr forecasts of income for the current and future years alongside forecasts of expenéiture on the basis of planned activity. Analysis of future needs, opportunities, commitments and risk, where future income alone is likely to fall short ol the amount of the anlicipaled costs. Assessments if the likelihood of a shortfall arising which means that reserves are ne¢e55ary. The Trustees consider il prudent to maintain ieserves of at leasl six months operating expenditure in line with many organisations. In addition, a designated resetve fund is being established to allow for fLtture improvement and expansion of services for children, young people and foster parent5. Following accounting advice. the trustees will be establishing a designated reserve fund in the next financial year in respect of expected fulure outlay in relation lo the contingent liability recognised in the financial statements. Structurei governance and management a. Conslitutlon The Supported Fostering Services Charitable Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed. b. Methods of appointment or electOn of Trustees The directors of the company are also charity trustees for the purposes of charity law. When considering co-opting new trustees, the board has regard lo the requirement for any specialist skills needed. c. Policies adopted for the Induction and training of Trustees Most Irustees are already familiar with the workings of the charity having ielevant experience. New trustees are invited and encouraged to attend a series of training services to familiarise Ihemselves with the charity. These are led by the company secretary and senior management and cover.. the obligations of the trustees as directors and trustee5. the main documents governing the operation of the Charity, the current and future plans and obieclives. d. Financial risk management The Trustees have assessed the major risks lo which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and proceduTes are in place to mitigate exposure lo the major risks. Page 4
The Supported Fostering Servl¢es Charitable Trust IA company limited by guarantee) Trustees. report Icontinuedl for the year ended 31 March 2025 Structure, governance and management Icontinuedl e. Organisational structure and decislon 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 periods The Board of Trustees are ever watchful regarding developments in the fostering sector. The intention is the continue lo provide a good or indeed outstanding service lo the young people that Ihe charity looks after and lo the local aulhorilies who place these young people. The Trustees are also building reserves with the intention of expanding the charities offering to an increased number of looked after children in the future Audltors The auditors, Xeinadin Audit Limited, have indicated their willingness lo continue in office. The designated Trustees will propose a motion reappointing the auditors al a meeting ol the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by.. Derek Trustee Date. ode 411¥ Page 5
The Supported Fostering Services Charitable Trust {A company limlted by guaranteel Statement of Trustees, responsibilities for the year ended 31 March 2025 The Trustees (who are also the directors of the charity 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 AccoLJnting Standards (United Kingdom Generally AGcepled Accounting Practice). Company law requires the Trustees lo prepare financial statements for each financial Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charity and of Its incoming resources and application of resources, Including its income and expenditure. for that period. In preparin9 these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., obseNe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates thal are reasonable and piudent., slate whether applicable UK Accounting Standards (FRS 102) have been followed, subject lo any material departures disclosed and explained in the financial statements, prepare the financial statements on Ihe going concern basis unless it is inappropriate to presume that the charity will continue in business, The Trustees 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 lime the financial position of Ihe ¢harity and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking re8sonabl8 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.. ¢ia 21 Page 6
The Supported Fostering Services Charitable Trust (A company limited by guarantee)
Independent auditors' report to the Members of The Supported Fostering Services Charitable Trust
Opinion
We have audited the financial statements of The Supported Fostering Services Charitable Trust (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 Standard, 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 statements, we have concluded that the Trustees' use of the going concern 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 significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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The Supported Fostering Services Charitable Trusl (A company limited by guarantee) Independent auditors, report to the Members of The Supported Fostering Services CharFtable Trust Icontlnued) Other informatlon The other information comprises the information included in the annual report other than the financial statements and our auditors, report thereon. The Trustees are responsible for Ihe other information contained within the annual report. Our opinion on the financial statements does nol cover the other information and, except lo the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo lead the other informalion and, in doing so, consider whether the other information is materially inconsistent with the financial slalemenls or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companles 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 consislenl wilh the financial statements. the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the followin9 matters in relation lo which Companies Act 2006 requires us to 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 visited by us., or the financial statements are not in agreement with the accounting record5 and retums., or certain disclosures of Trustees, remuneration specified by law are not made, or we have not received all the information and explanations we require for our audit, or the Trustees were not enlilled lo prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies, exernptions in preparing the Trustees, report and from the requirement to prepare a Stralegic report. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the Trltstees Iwho are also the directors of the charitable company foi the purposes of company lawl afe 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 slatements Ihal are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable. matters related lo going concem and using the going concern basis of accoLsnling unless the Trustees either intend lo liquid8le the charitable company or lo cease operations, or have no realistic allernalive but lo do so. Page 8
The Supported Fostering Services Charitable Trust (A company limited by guarantee)
Independent auditors' report to the Members of The Supported Fostering Services Charitable Trust (continued)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance 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 considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, 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, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of an audit in accordance with ISAs (UK), exercise professional judgement and maintain professional scepticism through the audit. We also:
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Assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud may occur.
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Held discussions with the client regarding their policies and procedures on compliance with laws and regulations.
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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 at: w .frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
Use of our report
This report is made solely to the charitable company's trustees, 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 trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Samuel Ketcher FCCA (senior statutory auditor)
for and on behalf of
Xeinadin Audit Limited
Chartered Accountants Statutory Auditor 12 Conqueror Court Sittingbourne Kent ME10 5BH
Date: 11 December 2025
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The Supported Fostering Services Charitable Trust IA company limlted by guarantee) Statement of financial activities lincorporatlng income and expenditure account for the year ended 31 March 2025 Unrestricted funds 2025 Total funds 2025 Tolal fui?ds 2024 Nole Income from: Charitable activities Inveslments Olher income 2,237,506 15.039 6,092 2,237.506 15,039 6,092 1, 934, 209 8, 199 5,921 Total income 2,258,637 2,258.637 1,948,329 Expenditure on.. Charitable activities 1,760,626 1,760,626 1. 628, 638 Total expenditure 1,760,626 1,760,626 1, 628, 638 Net movement In funds 498,011 498,011 319,691 Reconciliation of funds: Total funds brought forward Net movement in funds 1,211,892 498,011 1,211,892 498,011 892, 207 319.697 Total funds Carried forward 1,709,903 1,709,903 1,211,892 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 13 to 24 form part of these financial statements. Page 10
The Supported Fostering Services Charitable Trust (A company limiled by guarantee) Registered number.. 03671965 Balance sheet as at 31 March 2025 2025 2024 Note Flxed assets Tangible assets Current assets 10 504,673 515,464 Debtors Cash at bank and in hand 75.837 1,385,984 70,282 7,032, 236 1,461,821 7. 102,578 Creditors, amounts falling due within one year 12 1256.591 (223 190) Net current assets 1,205,230 879, 328 Total assets less current liabilities 1,709,903 1,394. 792 Provisions for liabilities (182 900) Total net assets 1,709,903 1,211,892 Charity funds Restricted funds: Unrestricted funds 1,709,903 1,211,892 Tot241 funds 1,709.903 7,271,892 The entity was entitled to exemption from audit under section 477 of Ihe Companies Act 2006. The members have not required the entity lo oblain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audrt is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of Ihe Act wilh respect lo accounting records and preparation of financial stalemenls. The financial stalements have been prepared in accordance with the provisions applicable to enlities 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 Dale q illl The notes on pages 13 10 24 fomi part of Ihese financial Statements. Page11
The Supported Fostering Services Charitable Trust
(A company limited by guarantee)
Statement of cash flows for the year ended 31 March 2025
| Statement of cash flows for the year ended 31 March 2025 |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net cash used in operating activities | 355,093 | 407,557 |
| Cash flows from investing activities | ||
| Purchase of tangible fixed assets | **(1,345) ** | |
| Net cash (used in)/provided by investing activities | (1,345) | |
| Change in cash and cash equivalents in the year | 353,748 | 407,557 |
| Cash and cash equivalents at the beginning of the year | 1,032,236 | 624,679 |
| Cash and cash equivalents at the end of the year | 1,385,984 | 1,032,236 |
| The notes on pages 13 to 24 form part of these financial statements |
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The Supported Fostering Servlces Charitable Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 General informatffion The Supported Fostering Services Charitable Trust is a charity incorporated in England and Wales. The trust's registered number and registered office can be found on the Adminislralive 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 lo £10 per member of the company. Accountlng policies 2.1 8asls ot preparation of financial statements The financial slalements have been prepared in accordance with the Charlties SORP {FRS 102> Accounting and Reporting by Charities.. Slatement of Reccmmended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. The Supported Fostering Services 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 otherwise slated in the relevant accounting policy, The financial statements are prepared in GBP and rounded lo the nearest pound. 2.2 Income All income is recognised once the charity has enlillement to the income. it is probable that the income will be received and the amount of income receivable can be measLÈred reliably, Income tax recoverable in relation to investment income is recognised at the time the investment income is receVable. 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 5erviGe, 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 tolal 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 contribule lo more than one activity and support costs which are not altribulable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Cenlral 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 activitie5 15 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 VA T. Page13
The Supported Fostering Services Charitable Trust {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 Accounting policie5 Icontinuedl 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by thè institution with whom the funds are deposited. 2.5 Taxation The charity is exempt from corporation lax on its charitable activities. 2.6 Tanglble fixed assets and depre¢iatlon Tangible fixed assets costing £1,000 or more are capilalised 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 recognised al cost. After recognition, undèr the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All cost5 incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives. on a reducing balance basis, Depreciation is providecl on the following basis.. Freehold property Fixtures and fittings Computer equipment 2011 slraighl line 25 % on reducing balance 33 % on reducing balance 2.7 Debtors Trade and other debtors are recognise(S at the settlement amount after any trade discount offered. Prepayments are valued al the amount piepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of Ihe deposit or similar account. 2.9 Liabblities and provisions Liabilities are recognised when there is an obligation at the balance sheet date 8s a resull of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amounl of the settlement can be estimaled reliably. Liabilities are recognised al the amount that the charity anticipates il will pay to sellle the debt or the amoLsnl it has received as advanced payments for the goods or services il must provide. Provisions are measured at the best estimate of the amounts required lo seltle the obligation. Where the effect of the lime value of money Is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. Page 14
The Supported F05tering Services Charitable Trust IA company limited by guarantee Notes to the financial statements for the year ended 31 March 2025 Accounting policies (continued 2.10 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are Subsequently rneasured al amortised cosl using the effective interest method. 2.11 Pensions The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity lo the fund in respect of the year. 2.12 Fund accounting General funds are unrestricted funds which are available for use al 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 lo 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 adminislerin9 such funds are charged against the specific fund. The aim and use of each reslri¢led fund is set out in the notes to the financial statements. Investment income, gains and losses ale allocated lo the appropriate fund. Income trom charitable activities Unrestricted funds 2025 Total funds 2025 Tolal IuiFds 2024 Fostering income 2.237,506 2,237,506 7.934.209 Tolal 2024 1, 934, 209 1.934,209 Page 15
The Supported Fostering seICe5 Charitable Trust {A company limiled by guarantee) Notes lo the financial statements for the year ended 31 March 2025 Investment income Unrestricted funds 2025 Total funds 2025 Total fuiids 2024 Investment income 15,039 15,039 8,799 Total 2024 8, 199 8, 199 Other incoming resources Unrestrlcted funds 2025 Total funds 2025 Tolal funds 2024 other incoming resources 6,092 6,092 5,927 Tolal 2024 5,921 5.921 Analysis of expenditure on charitable activities Summary by fund type Unrestricled funds 2025 Total 2025 Total 2024 Fostering services 1,760,626 1.760,626 1, 628, 638 Total 2024 7,628,638 1.628,638 Page16
The Supported F05tering SeNices Charitable Trust {A company limited by guaranteel Notes to the financial stalements for the year ended 31 March 2025 Auditors. remuneration 2025 2024 Fees payable lo the Charity's auditor for the audit of the Charity's annual accounts 8,400 6,035 Fees payable to the charity's auditor in respect of. All non-audit seNices not included above 3,272 7.890 staff costs 2025 2024 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 364,707 21,343 37.877 328, 448 37,976 29,000 423,927 389. 364 The average number of persons employed by the charity during the year was as follows.. 2025 2024 Admin Finance Social workers 11 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was, 2025 2024 No. In the band £60,001- £70,000 Key management personnel received remuneration lotalling £52,039 {2024 - £49,838) during the year. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year, no Trustees received any expenses {2024 - £Nil). Page17
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 10. Tanglble fixed assets Freehold land and Fixtures and buildings flttlngs Computer equipment Total Cost or valuation At 1 April 2024 Additions 525,512 19,734 6,780 1,345 552,026 1,345 At 31 March 2025 525,512 19,734 8,125 553,371 Depreciation At 1 April 2024 Charge for the year 19,744 9,477 10,749 2,222 6,069 437 36,562 12,136 At 31 March 2025 29,221 12,971 6,506 48,698 Net book value At 31 March 2025 496,291 6,783 1,619 504,673 At 31 March 2024 505, 768 8, 985 711 515.464 Included in freehold land and buildings is freehold land al deemed cost of £51,677 (2Q24 - £51,677), which is not depreciated. 11. Debtors 2026 2024 Due within one year Trade debtors Prepayments and accrued Income 58,037 17,800 51,707 18,575 75,837 70, 282 Page18
The Supported Fosterlng Services Charitable Trust IA company limited by guarantee) Notes to the financlal statements for the year ended 31 March 2025 12. Creditors.. Amounts falling due within one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 15,251 8,992 171,248 61,100 5, 198 6, 722 160,037 51,233 256,S91 223, 190 13. Financial instruments 2025 2024 Financial assets Financial assets measured al fair value through income and expenditure 1,385,984 7.032,236 2025 2024 Flnanclal Ilabilltles Financial liabilities measured al amortised cost 256,591 {243, 354) Financial assets measured at fair value through income and expendilure comprise cash at bank and in hand. Financial liabilities measured at amortised cost comprise trade and other creditors, 14. Provisions Young Peoples Grants At 1 April 2024 Amounls reversed 182.900 1182,900) At 31 March 2024 The Young Peoples Grant provision is in relation to leaving care costs, which is a grant given to young people who leave lo find allernalive accommodation This has been reversed in the year and a conlingenl liability has been recognised in its place al note 21. Page 19
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 15. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Income Expenditure Unrestricted funds General funds 1,211,892 2,258,637 (1,760,626) 1,709.903 Statement of funds - prior year B818nce al 31 March 2024 88laiice al l Apnl 2023 Income Expg1)dilure Unrestricted funds General funds 892.201 1,948.329 (1,628.638) 1,271,892 Page 20
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 16. Summary of funds Summary of funds - Current year Balance at 31 March 2025 Balance at 1 April 2024 Income Expenditure General funds 1,211,892 2,258,637 (1,760.6261 1,709,903 Summary of funds - prior year Balanc8 81 31 Mah 2024 Balaijce al 1 Apnl 2023 liicon7e Expeiidiliire General funds 892.207 1.948.329 (1, 628,638) 7,217.892 Page 21
The Supported Fostering Services Charitable Trust {A company limited by guarantee) Notes to the financlal statements for the year ended 31 March 2025 17. Analysts of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Curienl assets Creditors due within one year 504,673 1,461,821 {25S,5911 504.673 1.461,821 1256,5911 Total 1,709,903 1,709,903 Analysls of net assets between funds . prior year Unrestricled fiii?ds 2024 Tot81 fiii?ds 2024 Tangible fixed assets Current assets Credilors due within one year Provisions for liabilities and charges 575,464 1, 102.518 1223, 190) (782, 900) 515,464 7, 102.518 (223. 190) (182, 900J Total 1,211,892 1,271,892 18. Reconciliation of net movement in funds to net cash flow from operating activitles 2025 2024 Nel income for the year las per Statement of Financial Aclivitiesl 498,011 319.697 Adjustments for.. Depreciation charges Decfeasellincreasel in debtors Increase in creditors Increasel{decreasel in provisions 12,136 {5,5551 33,401 1182,9001 12, 784 67, 287 7. 795 Net cash provided by operating activities 355,093 407,557 Page 22
The Supported Fostering Services Charitsble Trusl (A company limited by guarantee Notes to the financial statements for the year ended 31 March 2025 19. Analysis of cash and cash equivalents 2025 2024 Cash in hand 1,385,984 1.032,236 Total cash and cash equlvalents 1,385,984 7,032.236 20. Analysis of changes In nel debt At 1 April 2024 Cash flows At 31 March 202S Cash al bank and in hand 1,032,236 353,748 1,38S,984 1,032,236 353,748 1,385,984 21, Contingent liabilities The charily operates a programme under which funds may become payable to beneficiaries in the future. At the reporting date, the charity recognises that a potential obligation exists in relation lo these future payouts. However, the amount of any future payment is dependent on a number of factors outside the charity's control, including the future participation levels, eligibility crileria being mel, and the amounts accrued by individual beneficiaries. As a result, it has not been possible lo measure the potential liability with sufficient reliability. In accordance with the Charities SORP IFRS 102), no provision has been made in the financial statement5. 22. Pension 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 lo the fund and amounts of £4,24112024 £5,453} were payable lo the fund at the balance sheet date and are included in creditors. Page 23
The Supported Fostering Services Charitable Trust IA company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 23. Operating lease ¢ommitment$ At 31 March 2025 the charity had commitments lo make future minimum lease payments under non- cancellable operating leases as follows. 2025 2924 Not later than 1 year Later than 1 year and not later than 5 years 636 2,121 2,757 Operaling lease rental expense in the year lotals £424 {2024. £NilJ. 24. Related party transactions During the year D Clode, a trustee was paid £Nil12024 £2,500) for social work services. No amcunls were outstanding as al 31 March 2025 (2024 £Nill. All transactions were paid at market rates. Page 24