', RRL Charity registration number 1124492 Company rgglstratlon number 06481146 IEngland and Wales) CAREFREE-FOSTERING INDEPENDENCE CORNWALL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL LEGAL AND ADMINISTRATIVE INFORMATION Trustses Ms JB Hampton (Chairl Mr M Ellis ITreasurerl Mr R Grant Ms H SeymoLJr Ms ND Johnson Mr L Lloyd IAppointed 15 September 20221 {Appointed 14 March 20231 MrA Earle Secretary Ms S Mari Eggins, Chief Executive Officer Charlty numb&r 1124492 Company number 06481146 Principal address Clinton Passage REDRUTH Cornwall TR15 2AY Registered office Clinton Passage REDRUTH Cornwall TR15 2AY Audltor RRL LLP Peat House Newham Road TRURO Cornwall TR1 2DP Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill WEST MALLING Kent ME19 4JQ
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL CONTENTS Page Trustees, report Stslemenl of trustees. responsibilities Independent auditorfs report 8-11 Statement of financial activities 12 Balance sheet 13 Stslemenl of cash flows 14 Notes lo the financial statements 15-30
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their annual report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial slalements and comply wth the charity's Memorandum and Articles of Associab"on, the Companies Act 2006 and 'Accounling and Reporting by Charities. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods commencing from 1 January 20191. Objectives and activities The objects of the Charity are.. To act as a resource for young people up to the age of 25 wlh particular focus on those aged 13 10 17 living in Cornwall and who have been, are or al risk of being in care by providing advi and assistance and organising programmes of physical, educational and other activities as a means of.. al Advancing in life and helping them by developing their skills, capacities and capabilities to enable them lo participate in society as independent, mature and responsible individuals," bl Advancing education and training., cl Relieving unemployment., dl Providing recreational and leisure time activity in the interests of social welfare for young people living in the area of benefit who have need by reason of their youth, age, infimiity or disability, povety or social and economic circumstances with a view lo improving the conditions of life of such persons. Principal activity The principal activity of the charity is lo help young people who are care experienced have a good life, through positive relationships, through support wth transition5 and through enabling young people lo have a voice.
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Achievements and perforniance Our Target Outcomes for 2022 are set out below, followed by an infographic of how we achieved them. H•lpry 350 c¥• h•%* a ¢ood
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 c 4 Carefree Cornwall ANNUAL REVIEW 2022 Alm l• t• h•lp CAr• •xp•rl•ne•d y•u•4 p•opl• hav• • Ibh. 260 179 SIl', OF Amongst the achievements of 2022, Trustees want lo highlight the following key areas.. 30- 50 young people engaged in local participation In 2022, young people increased their ability to influence and lead the work of Cornwall's Corporate Parenting Board. In April, young people invited the Board lo one of our favourite outdoor venues. BF Adventure, to agree on the three top priorities for the coming year.. Increasing relationship based, trauma informed services which offer young people in and leaving care consistency, a sense of permanence and help lo understand their own lived experience and enable them lo learn, grow and be healthy Better housing options for young people in and leaving care Improved access to transport for young people in and leaving care 20-30 Young people aged 14-24 volunteering to support others Peer Mentor Training All our 11-17 programmes are supported by our Peer Mentors who are young people who support others to feel more confident, make friends and learn new things. They help to befriend and welcome new young people into Carefree and are role models ID their peers. This year, six new young people trained to become peer mentors. They took part in a programme where they leamed about teamwork, communication skills, understanding emotions and behaviour of themselves and others, safeguarding and discussed scenarios and how they would respond. They also took part in a two day residential al BF Adventure where they sUPPOrted each other lo complete activrfties including climbing and kayaking. They worked as a team to plan and complete problem solving activities, shopped for, and fed the whole group and reflected on their learning and progress. They then put these skills into practice supporting on our residential and group activities over the summer and completed an award in Interpersonal Skills. All six young people who tCK)k part in the training in 2022 passed their panel interview and were part of the 30 strong group of young people who actively supported others wthin Ihe organisation.
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accrediting young people's work Accredilalion plays a big part in the informal education delivered across our teams. In order for young people lo be able to gain re¢ognilion and ¢ertifi¢ales for their hard work in groups, we use the awarding bodies Ascenlis, AQA, Arts Award and Sports Leader Award. The units of work delivered and achieved have ranged across many different topics including Small Animal Care. Healthy Living, and Taking Part in an Activity. Team Worf( Skills. Emergency First Aid at Work, Customer Service, Preparing for Work, Employability Skills and Career Preparation. In 2022, we supported 52 individuals to complete 91 pieces of accreditation. We also worked with a group of Separated Children Seeking Asylum and enabled them to achieve their Pre Entry Level Introduction to Learning for Speakers of Other Languages, a new area of work for the Carefree team. This year we gained Direct Claim Status, which means we have consislenlly mel all the required criteria and so can claim for our learner's achievements in between quality assurance visits. Gaining accreditslion fosters autonomy, agency and responsibility.. transferable life-skills that support our core aim of helping young people improve their outcomes in terms of education, employment and training. 120 people attend an average of 3040 hours of activity Sports leader programme A Sports leader qualification can be the start of developing peer mentoring skills, or it can stand alone as an accreditation where young people develop personal skills in a sports context. In 2022, we engaged young people in a 2 day residential where they learned about games, team roles, inclusion and delivery styles. They designed and led on their own games and reflected on their performance as a team. The youth workers who led the programme reflected on how much the young people had gol out of doing the programme. For example, one young person was initially very quiet in groups, struggling lo make choices and to speak in front of her peers. When designing her game she showed that she was considerate of everyone's abilities and her confidence over the programme increased significantly. By the end ol the programme, she delivered her game lo the group, speaking in front of her peers and supporting and encouraging them. She reflected on her progress saying .1 made new friends and can talk to people more. and that the programme had helped her wth her self-belief. Her progress over the year is evident in her outcomes star where she has progressed from level three in 2021 to level seven in our ten-point scale by the end of 2022 in her'Ability to Manage Relationships and Engage with Groups,. Keeping in touch with young people Our PA team continued lo deliver practice that helps Cornwall relain ils 'Oulslanding' Ofsted grade for services lo care leavers. They were committed and persislenl in their support of young people, enabling those young people lo know that there was a consistent adult to support them in their transition betteen being a child in care and an adLJII partirypating independently within society. In 2022, we emulated that good practice with the young people who engaged voluntarily wlh us, contacting them al least every three months to check on their welfare and make sure that our offer lo them was relevant and that they could choose lo engage in it. This increased our ability to ènsure that our delivery was what young people wanted, and helped us offer young people the 'safe base, that research shows is essèntial for emotional well-being and positive mental health. Working in Partnership Throughout 2022, Carefree has worf(ed dosely with local and national partners who include.. Cornwall Council - the soaal workers, foster carers and PA'S who work direcuy with the young people we serve but also the wider Local Authority as il continues to develop its ability to be a good Corporate Parent Health, particulady the designated nurse team for children in care but also including health visitors, midwives, GP'S, hospitals and commissioned services like With You, Cornwall's substsnce misuse partner Schools and colleges Voluntary and Community sector partners that Carefree has grown up with, and learnt so much from along the way - including WILD, BF Adventure, Young People Cornwall, The Learning Partnership for Cornwall and the Isles of Scilly, Bamardos and the CAB Our Business delivery partners including Out of the Box IT and Sapience HR
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Financial review The results for the year are shown in the stslemenl of financial activities on page 12 and show nel incomingl loulgoingl resources for the year of £116,51612021.' 1£133.58111, a surplus of £46.800 was generated in respect of unrestricted funds12021' £57.1891. Reserves pollcy The charity holds three months running costs plus closure costs at year end in line with its reserves policy. This is monitored monlhly. The current balance in general reserves is £131,814 which is assessed as adequate to SUPPDrt the organisatlDn's financial stability going forwards. Investment policy The trustees have considered the most appropriate policy for investing fvnds and find that the current arrangement with short temi bank deposits meets the requirement to generate a reasonable return on capital whilst maintaining access lo funds for operational purposes. Risk management The Iruslees have examined the major strategic risks to which the charity is exposed and are satisfied that systems are in place lo minimise or mitigate these. The trustees will continue to review potential risks on a regular basis and will lake further action lo minimise or mitigate these risks as required. Plans for future periods Carefree has built on our learning in the last year and will be developing work in the future which enables more care experienced young people to have a good life. In 2022 we will continue to focus on enabling care experienced young people to have positive relationships, Support them at times of transition and enable them lo have a vol. We will use these strategies lo develop our services in several areas, including Developing a range of work that supports care experienced young people into better housing Offering bespoke support to separated children seeing asylum Working Mrith key partners across Cornwall's Corporate Parent which ensure that young people re1ve high quality, traLJma informed services in which their voices are clearly listened to and heard. Structure. governance and management Carefree - Fostering Independence Cornwall is a company limited by Guarantee governed by ils Memorandum and Articles of Association dated 23 January 2008 and amended 23 May 2008. 11 became a registered charity with thè Charity Commission on 12 June 2008. In the event that the charity is wound up, the members agree lo contribute an amount of not more than £10 lo the assets of the charity. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial stslemenls were". Ms JB Hampton (Chairl Mr M Ellis (Treasurerl Mr R Grant Ms C INalker-Booth Ms M Came Ms H Seymour Mr L Tilley Ms ND Johnson Mr L Lloyd Ms E Evans (Resigned 15 September 2022} (Resigned 23 June 20221 (Resigned 15 September 2022} (Appointed 15 September 20221 (Appointed 15 September 2022 and resigned 19 January 20231 (Appointed 14 March 20231 MrA Earle
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Recruitment and induction of trustees The directors of the company are also charity trustees for the purposes of charity law. Thè trustees may appc>inl a person who is willing to act lo be a trustee. Potttnlial Iruslees meet the trustees and management prior lo the proposal as a Iruslee. Once appointed, trustees undertake an induction into the working of the charity including observing operational activity. discussions wlh stsff and reading information such as accounts and other evaluation documents. Oryanlsatlon The Iruslees are legally responsible for the overall control and management of the charity. The Chief Executive OffIr is responsible for the day-to-day management and administration of the charity and reports to the trustees. Rgmun*ratlon poll¢y for koy managgment P9rsonng1 The trustees consider the Chief Executive Officer and the Finance Manager lo comprise the key management personnel of the charity. The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the Trustees benchmark against pay levels in other similai organisalions. Disclosure of infomiation to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant lo the audit. bul of which the auditor is unaware. They have further confirmed that they have taken appropriate steps lo identify such relevant information and lo establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees. Mr M Ellis (Treasurerl Trustee 13 June 2023
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees, who are also the directors of Carefree-Foslering Independence Cornwall for the purpose of company law, are responsiblè for preparing thè Trustees, Report and the financial statements In accordance with appli¢8ble law and United Kingdom Accounting Standards Iunrted Kingdom Generally Accepted Accounting Practice). Company Law requires the Iruslees lo prepare financial statements for each financial year which give a true and fair view of the stsle of affairs of the Charity and of the in¢oming resources and application of resour$, induding the income and expenditure, of the charitable ¢ompany for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently", observe the methods and principles in the Charities SORP", make judgements and eslimales that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial statements,. and prepare the financial slalements on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the fi'nancial statements comply with 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.
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAREFREE-FOSTERING INDEPENDENCE CORNWALL Opinion We have audited the financial slalements of Carefree-Fostering Independence Cornwall Ilhe 'charily'l for the year ended 31 December 2022 which comprise the statement of financial activities. the balance sheet, the stslemenl of cash flt)ws and notes to the financial statements. including significant a¢counting 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 the UK and Republic of Iland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial slatemenls.. give a true and fair view of the slate of thè charitable company's affairs as al 31 December 2022 and of Its incoming resources and application of resources, including r(s income and expenditure, for the year then ended., have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting Practice., 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 Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilorts spOnsibl11tes for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the worf( we have performed, we have not identified any material Ljncertainties relating to events or conditions that. individually Dr collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least bNelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilibes of the ttuslees wth respect lo going concern are described in the relevant sedions of this report. Other inforniation The other information comprises the information included in the annual report other than the financial slalements and our audilorfs report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and. except to the extent otherwise explicitly slated in our report, we do not express any fomi of assuran conclusion thereon. Our responsibility is to read the Other information and, in doing so, consider whether the other information is materially inconsislenl wth the finanaal slalements 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 m8leri81 misstslemenls, we are required to determine whether this gives rise to 8 material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Iruslees, report for the financial year for which the financial slalements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial slalements., and the directors. report included within the trustees. report has been prepared in accordance with applicable legal requirements.
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CAREFREE-FOSTERING INDEPENDENCE CORNWALL Matters on which are required to report by exception In the light of the knowledge and understsnding of the charity and its environment obtained in the course of the audit. we have not identified material misststemenls in the directors, report included wthin the Iruslees, report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been reiVed from branches not visited by us,. or the financial slalements are not in agreement with the accounting records and returns., 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 Iruslees were not entitled lo prepare the financial slalements in accordance with the small Companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement lo prepare a strategic report. Respon$lbllltles of tru$tee$ As explained more fully in the statement of Iruslees. responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such intemal control as the Iruslees determine 15 necessary lo enable the preparation of financial slalemenls that are free from material misslalement, whether due lo fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charity's ability lo continue as a going Concern, disclosing, as applicable, matters related lo 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 realistic altemative but to do so. Audltorfs rasponslbllltles for tho audlt of the flnanclal statoments Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstslemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected lo influence the e¢onomi¢ decisions of users taken on the basis of these financial slatemenls. Irregularities, induding fraud, are instances of non-compliance wV(h laws and regulations. We design procedures in line with our responsibilities, oufjined above, lo delect material misstslements in respect of irregularities, including fraud. As part of our audit work, we obtained an understanding of the legal and regulatory frameworks applicable lo the charity and the sector in which they operate. We delemiined that the laws and regulations surrounding the safeguaiding of vulnerable groups were most significant lo the charity as well as the laws and regulations that have a dirèct impact on thè prèparation of the finanaal statements such as the Charities Act 2011, the Companies Act 2006 and compliance with the Charities Statement of Recommènded Practice.
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CAREFREE-FOSTERING INDEPENDENCE CORNWALL The specific procedures for this engagement and the extent to which these are capable of delecling irregularities, including fraud Is detsiled below. Obtain an understsnding of the legal and gUlatOry frameworks applicable lo the charity and the sector in which il operates. We detemiined that the laws and regulations surrounding the safeguarding of vulnerable groups were most significant, as well as compliance with the Charib'es Act 2011 and the Companies Act 2006. Review of the disclosures in the financial statements and testing to supporting docurnenlation lo assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financi81 slatemenls", Discussion wlh management as lo how compliance with these laws and regulations is monitored," Enquiries of management concerning actual and potential litigation and claims., Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud., Reviewng minutes of trustee meetings and correspondence wlh regulators., Performing audit work in connection wrth the risk of management override of controls, including lesling journal entries for reasonableness and evaluating the business rationale of significant transactions outside the normal course of business. We also communicate relevant identified laws and regulations and Potential fraud risk to all engagement team members and remain alert lo any indications of fraud or non-compliance wth laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misslatemenl in the financial statements or non-compliance wrth regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transadions reflected in the financial statements. as we will be less likely lo be¢ome aware of instsn¢es of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. other matter Comparative information in the financial statements is derived from the tharitsble company's prior period financial statements which were not audited. 10-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CAREFREE-FOSTERING INDEPENDENCE CORNWALL Use of our report This report is made solely lo the charitable company's members, as a body, in ardance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitable company's members those matters we are required to stsle to them in an auditorfs 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Josh Stevens Isenior Statutory Auditor) forand on behalf of RRL LLP 30 June 2023 Chartered Accountants Ststutory Auditor Peat House Newham Road TRURO Cornwall TR1 2DP
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Restricted funds funds 2022 2022 Total Unrestricted Restricted funds fund$ 2021 2021 Total 2022 2021 Notes Income from: Donations and legacies Charitable activities Investments 298 47,271 588 20,000 20,298 1,084,053 1,131,324 588 70,301 37,205 70,301 807,269 770.064 Totsl Income 48,157 1,104,053 1,152,210 107,513 770,064 877,577 Ex endlture on: Charitable activities 1,959 1,034,360 1.036,319 50,784 960,930 1,011,714 Net gainslllossesl on investments 625 625 556 556 Net Incomlnglloutgolngl resou9$ before transfers 46.823 69,693 116,516 57,285 1190.866) 1133,5811 Gross transfers between funds 1231 23 1961 96 Net movement In funds 46,800 69,718 116,516 57,189 1190,770} 1133,5811 Fund balances al 1 January 2022 225,014 118,668 343,682 167,825 309,438 477,263 Fund balances at 31 December 2022 271,814 188,384 460,198 225,014 118,668 343,682 The stslemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The statement of financial activities also complies with the requirernenls for an income and expenditure account under the Companies Act 2006. 12-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Flxed assets Tangible assets Investments 556 5,598 14 6,223 6,223 6,154 Current assets Debtors Cash at bank and in hand 16 149,067 344,717 88,769 291,937 493,784 380,706 Creditors: amounts falllng dug wlthln ona year 17 139.8091 143,1781 Net current assets 453.975 337,528 Totsl assets less current liabilities 460,198 343,682 Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 19 188,384 118,668 20 140.000 131,814 140,558 84,458 271,814 225,014 460.198 343,682 These financial slalements have been prepared in accordan with the provisions applicable lo companies subject to the small companies regime. The financial statements were approved by the Trustees on 13 June 2023 Mr M Ellis reasurer> Trustee Company Registration No. 06481146 13-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Cash flows from operatlng actlvltles Cash generated fromllabsorbed by) operations 25 52,192 1152,767) Invg$tlng a1¥111$ Proceeds on disposal of investments Interest received 1,256 588 Net cash generated from investing actlvltles 588 1,263 Net cash used in financing activities Net increaselldecreasel in cash and cash equivalents 52,780 1151,5041 Cash and cash equivalents at beginning of year 291,937 443,441 Cash and cash equivalents at end of year 344,717 291,937 14-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity inforniation Carefree-Foslering Independence Cornwall is a company limited by guarantee incorporated in England and Wales. The registered office is Clinton Passage. REDRUTH, Cornwall, TR15 2AY. In the event that the charity is wound up the members agree to contribute an amount of not more than £10 towards the assets of the charity in the event of liquidation. The members of the charity are the trustees named on the legal and administrative infomiation page. 1.1 A¢¢ounllng ¢onvgntlon The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and Accounting and Reporting by Gharilies.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods commencing from 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The financial statements are prepared in slerfing, which is the functional currency of the charity. Monetary amounts in these financial stslemenls are rounded lo the nearest £. The financial slalements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going ¢on¢em Al the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate reSoUrS to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject lo speafic conditions by donors as to how they may be used. The purposes and uses of the restricted funds arè sel out in the notes to the financial slatemenls. Endowment funds are subject to specific conditions by donors that the capitsl musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to il after any performance conditions have been mel, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are renised on receipt. Other donations are recognised once the charity has been notified of the donatlon, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise rf the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as contingent asset. 15-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcles Icontlnuedl 1.5 Expendltu Liabilities are recognised as soon as there is a legal or constructive obligation committing the charty to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. It includes both cost5 that can be allocated directly to such activities and thosè costs of an indirect nature necessary lo support them. Governance costs Governance costs inclLJde costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on govemance or constitutional matters. Support costs Support costs Include central functions and have been allocated lo activity cost categories on a basis consistent with the use of resources, for example, allocating staff costs by the time spent and other costs by their usage. 1.6 Tanglblg flx9d a$$gts Tangible fixed assets costing £500 or more are capitalised and are initially measured al cost and subsequently measured al cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings 25°/0 Straight line basis The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial activities. 1.7 Fixed asset invastments Fixed asset investments are initially measured al transaction price excluding transaction costs, and are subsequently measured at fair value al each reporting dale. Changes in fair value are recognised in nel incomellexpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxgd a$$gts Al each reporting end date, the charity reviews the carrying amounts of ils tsngible assets to determine whether there Is any indication that those a5set5 have suffered an Impaitmenl loss. If any Such Indication exists, the iecoverable amount of the asset is eslimaled in order lo deleimine the extent of the impaimienl loss lif any). 1.9 Cash and cash equivalants Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdiafts are shown wthin borrowings in current liabilities. 16-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollcles Icontlnuedl 1.10 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of ils finanaal inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the conlraclual provisions of the Inslrumenl. Financial assets and liabilities are offset, wf(h the net amounts presented in the financial slatemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention to sellle on a nel basis or to realise the asset and setue the liability simLJltaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing Ir8nsaclion, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrLJment is measured at the present value of the fijture payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequendy carrieLI al amortised cost, using the effective Interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequendy measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday enliuement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 17-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Critical accounting estimates and judgements In the application of the charity's accounting Policies, the Iruslees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual resu115 Tnay differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and ftjture periods where the revision affects both current and future periods. Donatlons and legaclgs Unrestrlcted ReStrIed funds funds Totsl Unrestricted funds 2022 2022 2022 2021 Donations and gifts Government grants 298 20,000 20,298 69,781 520 298 20,000 20,298 70,301 HMRC - grants have been received lolalling £Nil 12021.. £5201 to help wlh the furfoughed staff whilst in a nationwide lockdown due to COVID-19. Charitable activities 2022 2021 Grants and contracts for general charitable purposes Grants and contracts for specific purposes Other income 42,204 1,084,053 5,067 37,330 770,064 11251 1,131,324 807,269 Analysis by fund Unrestricted funds Restricted funds 47,271 1,084,053 37,205 770,064 1,131,324 807,269 18-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Charltable actlvltles Icontlnuedl Grants and contracts Big Lottery BBC Children in Need Bleu Blanc Rouge Foundation Esmée Fairbaim Cornwall Council Leaving Care Service Cornwall Council Other British Foreign Schools Society Cornwall Council Engagement & Participation Service CHK Foundab'on Learning Partnership- Skills Your Way Other 54,829 51,812 75,000 50,750 276,021 239,304 67,778 71,163 50,000 135,567 172,808 30,588 94,586 112,584 76,000 50,393 139,764 55,238 129,666 1,126,257 807,394 £239,304- Cornwall Counul Other This enabled Carefree lo deliver specialist support lo prevent Care Leavers becoming homeless, work with the Multiply initiative lo enable care leavers who do not yel hold a level 2 qualification in maths, deliver specialist support lo help Separated Children Seeking Asylum and offer careers guidance and support including through the Compass programme. The amounts included in other grants and contrads include the following for specific purposes.. £32,000- Segelman Trust £23,000- The Listening Fund £19,060- Cornwall Museum Partnership £13,000- Cornwall Community Foundation £10,000- National Lottery Awards for All £500- Barclays Community Football Fund The amounts induded in other grants and contracts include the following for general charitable purposes.. £27,250- Lloyds Foundation Investments Unrestricted Unrestricted funds funds 2022 2021 Interest receivable 588 19-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activitie5 2022 2021 Staff costs Depreciation and impaimienl Activty venue hire Project sourceS Young peoples travel Other project costs Funds 4 care purchases 798,910 556 5,064 18,749 26,979 7,890 39,185 776,778 557 12,801 8,370 22,392 17,275 50,578 897,333 888,751 Share of support costs (see note 71 Share of governance costs Isee note 71 125,212 13,774 113,091 9,872 1,036,319 1,011,714 Analysls by fund Unrestricted funds Restricted funds 1,959 1,034,360 50,784 960,930 1,036,319 1,011,714 -20-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs Support Governanco Costs Costs 2022Support costs Govemance costs 2021 staff costs Rent, rates and insurance Repairs and maintenance Telephone and fax Computer sofvare and maintenance costs Printing, postage and stslionery Sundry expenses Cleaning Bank charges 56,032 56,032 53,378 53,378 14,841 14,841 17,713 17,713 5,576 15,688 5,576 15,688 4,363 12,610 4,363 12,610 19,995 19,995 16,906 16,906 3,091 7,502 2,325 162 3,091 7,502 2,325 162 3,040 3.148 1,715 218 3,040 3,148 1,715 218 Audit fees ACntanCY Legal and professional Independent examination fees 4,380 3,280 6,134 4,380 3,260 6,134 2.080 4,072 2.080 4,072 3,720 3,720 125,212 13,774 138,986 113,091 9,872 122,963 Analysed beheen Charitable activits'es 125,212 13,774 138,986 113,091 9,872 122,963 Employ99$ Numberofemployees The average monthly number of ernployees during the year was.. 2022 Numbar 2021 Number Chartsble activits'es 31 31 Employment costs 2022 2021 INages and salaries Social security costs Other pension costs 710,313 59,075 31,484 752,590 49,359 28,207 800.872 830,156 There were no employees whose annual remuneration was £60,000 or more. 21
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Net gainslllossesl on investments Unrestricted Unrestricted funds funds 2022 2021 Revaluation of investments Gainlllossl on sale of investments 625 482 74 625 556 10 Net movement in funds 2022 2021 Nel movement in funds is slated after chargingllcredilingl Fees payable lo the company's auditor for the audit of the company's financial slalements Depreaation of owned tangible fixed assets 4.380 556 557 11 Trustees None of the trustees lor any persons connected wlh them) received any remuneration from the charity during the year. No trustees were reimbursed for expenses in the year12021.' none). 12 Taxation The company Is a registered charity and is, therefore, exempl from taxation. -22-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 13 Tangible fixed assets Fixture5 and fitting5 Cost Al 1 January 2022 4,456 Al 31 December 2022 4,456 Depreciation and impaiment Al 1 January 2022 Depreaalion charged in the year 3,900 556 At 31 December 2022 4,456 Carrylng amount At 31 December 2022 Al 31 December 2021 556 14 Fixed asset investments Listed Investments Cost or valuation Al 1 January 2022 Valuation changes 5,598 625 Al 31 December 2022 6.223 Carrylng amount At 31 December 2022 6,223 Al 31 December 2021 5,598 15 Flnanclal Instruments 2022 2021 Carrying amount of financial assets Instruments measured al fair value through profit or loss 6,223 5,598 -23-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 16 Debtors 2022 2021 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 10,250 552 138,265 1,131 87,638 149,067 88,769 17 Credltors: amounts falllng due wlthln one year 2022 2021 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 16,988 4,881 11,220 6,720 11,632 6,457 8,772 16,317 39,809 43,178 18 Retirement benefit schemes Defined contribution schemes The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge lo the stslemenl of financial activities in respect of defined contribution schemes was £31,484 {2021'. £28,207). There were £6,42512021.' £4,151) of oulslanding contributions at the year end. -24-
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', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 20 Designated funds The income funds of the charity include the following designated funds which have been sel aside out of unrestricted funds by the Iruslees for specific purposes.. Balance at 1 January 2021 Resources expended Transfer5 Balance at 1 January 2022 Resources Balance at expended 31 December 2022 Closure costs Capital reserve 58,000 1,113 82,000 140,000 556 140,000 15571 15561 59,113 15571 82,000 140,556 15561 140,000 Purposes of designated funds Closure Costs- This fund is lo be utilised should the charity cease lo operate lo ensure that all closure costs can be funded. Capital ReseNe- This fund equals the net book value of tangible fixed assets. 21 Analy$l$ of net a$$gts betW99n funds Unrestricted Restricted funds funds 2022 2022 Total Unrestricted funds 2021 Restricted funds 2021 Total 2022 2021 Fund balances a131 December 2022 are represented by.. Tangible assets Investments Current assetsllliabilitiesl 556 5,598 255,318 556 5,598 337,528 6,223 265,591 6,223 453,975 188.384 82,210 271,814 188,384 460,198 261,472 82,210 343,682 22 Capital commitments 2022 2021 Al 31 December 2022 the charity had capital cornmilments as follows.. Contracted for bul not provided in the financial statements.. Acquisition of intangible assets 3,000 -29-
', RRL CAREFREE-FOSTERING INDEPENDENCE CORNWALL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 23 Related party transactions Remuneration of key management personnel Key management personnel in 2022 consisted of 3 members of stsff12021'. 21. The remuneration of key management personnel is as follows. 2022 2021 Aggregate compensation 120.694 87,918 The charity is controlled by the trustees who are all directors of the company. Transactions tolalling £17512021.. £Nill relating to casual employment of a close family member of one of the key management personnel look place during the year. There were £NIl amounts outstanding as al 31 December 202212021. £Nill. 24 Analysls of changes In net funds The charity had no debt during the year. 25 Cash generated from operations 2022 2021 Surpluslldeficill for the year 116,516 1133,5811 Adjustments for.. Investment income recognised in statement of financial aclivf(ies Gain on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets 15881 {71 1741 14821 557 16251 556 Movements in working capital". Ilncreasel in debtors {Decreasellincrease in creditors 160,2981 13,3691 128.0841 8,904 Cash generated fromllabsorbed by) operations 52,192 1152,7671 30-