Company registTrtr"on number.. 06481146 Charfty rEglstratSon number- 1124492 Carefree-Fostering Independence Cornwall {A company limited by guarantee) Annual Report and FlnJnclJl Strtements for the Year ended 31 December 2023 Carefree-Fosterlng Independence Cornwall Contents Referen￿ and Admlnlstratlve Detslls Trustees. Report 2to7 stthment of Trvstees, ResFK)nslbil(cies Independent Audf(ors' Report 9t012 ststement of Flnancial Activitie5 13 Balan￿ Sheet 14 ststement of Cash Flows 15 Notes to the Flnanclal Statements 16to31 Carefree-Fostering Independence Cornwall Reference and Administrative Details Truste Ms J B Hampton Mr M C Ellls Mr A Eade (appointed 14 Marth 20231 Ms N D Johnson Ms H Seymour (reslgned 13 JLtne 2023) Mr R Grnnt Ms E Evans Ire51gned 19 January 2023) Mr L Lloy Secretsry Ms S M E99ins Charlty Registration Numb•r 1124492 Company Roglrtratlon Numb•r 064B1146 Roylstornd Offlc• Carefree Clinton Passage Redruth Cornwall TR15 2AY Audltor Walker Moyle Lt(S 3 Chapel Street Redtirth Cornwall TR15 2BY 8ank•r8 CAF Bank Urnlted 25 Kings Hill Avenue West Malllng Kent ME19 4JQ Page I Carefree-Fostering Independence Cornwall Trustees. Report The trustees. who are dIrert0￿ lor the purposes of company kw, p￿sent the annual report together wlth the financial statements and auditors. ￿port of the thar￿ble company for the year ended 31 De￿mber 2023. The flnanclal ststements have been prepared In accordance wSth the aCcoun￿ng pollcles set out In note I to the flnanclal ststements and comply with the chanty's Memorandum and Arbcles of A550riaty"on, the Companie5 Att 2006, the Chathtyes Art 2011 and 'Accountlng and Reportlng by ChartUes: Statement of Recommendèd Prattice appllcable to tharttles prepartng thelr accounts In accordan￿ wlth the ￿nancIal ReportI￿g Standard appl￿a￿e In the UK and Republlc of Ireland (FRS 102)" (as amende(I fty acu>unb"ng periods commenclng from l January 2019). ObJ•cilv•• and •ctlvltl•• The objects of the Charlty a￿. To art as a resOU￿e for young people up to the age of 25 with particular focus on those tyed 13 to 17 living in Comwall and who have been, are or al rfsk of belng In care by provldlng advlce and assistance and organising programmes of phy51cal, educatlonal and other artlv1tJ￿ 4s a of: al Advancing in life and helping them by developing their Skills, cBpacsbes and capabilities to enable them to partiapate In sodety as Indèpendent, mature and reSp)nsIb￿ Indlvlduals; b) Advanclng eduCa￿On and tralnlng: cl Rellevin9 unempbyment; d) Provlding recreational an¢J lelsure tfime actlvlty In the Interests of soclal weffare for young people 1Svlng in the area of beneflt who have need by reason of thelr youth, age. inflrmity or ¢Yisability, rA)verty or social and economlc cSraJmstances wlth a vlew to lrntxovlng the condltlons of lffe of suth persons. The prln¢lpal a¢Uvlty of the charlty Is to help young peO￿e who are care experien￿ have a good lrfe, through posltive reLitlonshlps. through support wfch transltlons and through enabllng young people to have a volce. Publk benefft The trL>Stees confirm that they ha￿ complied with the requirements of section 17 of the Charftles Att 2011 to have due regard to the public benefft guldance publlshed by the Charfty Commlssion lor England and Wales. Page 2 Carefree-Fostering Independence Cornwall Trustees. Report A¢hlevements and perfornwnco Our Target Outcomes for 2023 are set out ￿10￿, followed by an Snfographlc of how we achleveij them. HelplnE 9SOrare t• goad Itle Page 3 Carefree-Fosterlng Independence Cornwall Trustees. Report c 4 Carefr ornwau Oiii *itbb i* io hvlp C•tr yrsurbÉ P￿0p•*. h•¥u J uoa Illo Tounrt p•oP￿ ￿1￿•¢11¥ 1*9 ••• 47 Amorbgst the ¥¢hlevements of 2023, Trusteas wantto hlghllght •om• k•y am#. 30- 50 young peoplè engaged in lo￿1 ￿rtIcipatIOn In 2023, y<>ung people contlnued to Inlluence and lead the work for Comwall's Corwrate Pa￿ntInU Board. worklng on these three top prI0￿e$. l. Infftasino relationship bèsed. trauma Infom￿ seNices whlch offer young people In and leavlng urè conslstency, a sense of permanence and help to understand their own lived experience and enable theffl to learn. grow ènd be healthy 2. Better housing optlons for young Feople In and leavlwj carE 3. Improved access to transport fcf young people Sn and leavSng care Whllst the two relatlonshlp basaj seNlces and better housing remain a focu5, we ore dellghted to re￿rt that the campa(gn for Improved access to transport bore fruit, thanks to Carefree's campalgnSng longside one of our national partners, Barnardos. In June 2023 It was announced that Comwall wlll provlde free Bus Passes for Care Leavers, and throughout 2023 we savrf thls scheme working well for young people. who sald thlngs Ilke e bus pass made me feel free. st's about gett5ng out the￿. It gave me hoFe." Page 4 Carefree-Fostering Independence Cornwall Trustees. Report 20 - 30 Young p•ople aged 1+24 volunteerirvJ to #upport ¢)the In 2023, 32 young people wert trnined and enabled to support thelr peers. Young people's leader5hlp and thelr supp)rt of others has been central to our work since Carefree's beglnnlng, when slx young people became our flrst ever Peer Montors. Young people who are care experfenced are a very powerful role model to their peers. Engaglng young pd)ple and connectlng wlth them to enable them to take part In acuvlty that bullds posltlve relatlonshlps offers young peopte lifelong skS115 In bulldlng r*)sltlve relationships, engaging wlth communltles ano havlng a network to rely on. SO Asylwn S¢•kln9 arbd Rofugee chlldrw welcomed and support•d In our secoThJ year of helping young people who came in to the care of Cornwall Council because they were Separated Chlldren Seeklnu Asylum, we supported 52 young people. The young people received a range of Serv5￿S. They were supporttsj on ar￿Val by a Spedallst Support Worker, enabled to Sèttle In accommodatlc and engage wth Cornish culture as well as sharlng the culture of their country of origin. We dellvered a range of workshops enabllng young people to Improve Engllsh lanQ￿age. and *veral stsff members 9alned an ESOL qualification. Young people Ce￿brated Nowruz, the Irnnian New Year. at the Eden project In March and attended a range of actlvlty wlth Cornlsh Or￿￿n peers. Young who came to us as SCSA young people engaged In leamlng how to support others, Includlng WmiThJ peer mentors for young people acr¢)5s Carefree. Our annual #it'sbeenemotlonal Care Leaver event in Ortober hèd the theme .811 trgetheV. where young people celebrated thelr slmilarities and dlfferences. 160 - 180 young people recelvlng a PA *•r¥ic• In 2023, Carefree celebrated seven years of dellvemno part of Cornwall Councll's Personal Advlsor Serv1￿ to young people kaving care. Thls was the bSggest change that Carefree has had to date, and the change has had a huge Impact on our work. Trustees a￿ aware that the move into Co-delwering some statutory servlces alon9side the Local Authority has helped Carefree mature as on organlsauon. Our very skflled and experlenc& PA'S wotk Dn a one to one basis wlth ore leavers, b*ng ￿r$istent In theSr support of young people, enabling those young peop￿ to know that there Is a wnslstent adult to support them In thelr trdnslbon between being a chlld In care and an adu￿ participating independenyy wlthln soaety. PA'S are also the route throLxJh whlth many young ￿lple are enabled to benefit frcwn wider Carefree serv1￿, induding our Careers servlce whlch helped 114 youThg people obtaln, or get closer to, Education Employment or Tralnlng In 2023, and our youth and c<)mmunity services. whlch engaged wlth 199 care leavers over the age of 18 In 2023. Worklng In Partnèrshlp Thmughout 2023, Carefree has worked closely witti local and national p8thers who Indude.. Comwall Councll - the social workers, foster carers and PA'S who work dirKUy with the young people we serye but also the wlder Local Authorfty a5 It continues to develop Its abllity to be a gr￿￿1 Corporète Parent Health, particularty the deslgnated nurse tsam for chIld￿n In care Schoo15 and C￿legeS. and Awena, the Vlrtual School for Childrtn in Care Voluntary and CommLbnlty sector partners that Carefree has grown up wlth, and learnt so much from along the way- Indudlng WILD, BF Adventu￿, Young People Cornwall, 8amardos, A Band of Brothers and the CAB Our Business delivery partners. including OLrt of the box IT and saP*n￿ HR Fln•n¢ial rnvi•w The results for the year are shown in the statement of linan¢ial artlvltles on page 10 and show net In¢omlng/lout9olng) resour￿ for the year of E26,(X14 12022.. £116,516), a surplus of £6,187 was generat In respett of unrestrlcted funds (2022: £46,800). Note 21 of the flnan(lal stateinents detril$ the Fund balances held by the tharlty, both restrthd and unrestrirted. There is è deficlt on the Comwall Councll - 16+ Careleaver serV￿e ￿tritted fund of £15,808 as t 31 DecemtrAr 2023. This is due to the tlmlng of attributsble costs incurred in the period that have been allttated to thls fund. The chamty Is due to re￿[ye Income in the forthcoming period, as part of the fundlng greement, that will ellmlnate thls deficjt. The charity holds three months runnlng costs plus closure costs at year-erKI in line wlth Its reserves policy. This 15 rnonltored monthly. The current balance In general ￿erVeS Is £115,158 whlth is assessed a5 adequate to support the organISa￿on'5 financiol stsbility going forwards. Page 5 Carefree-Fosterlng Independence Cornwall Trustees. Report Investment ￿l1£Y •nd objectltr The trustees have consldered the most approprfate polScy for investing funds and find thèt the current arrangement short term bank deptsslts meets the requlrernent to generate a reasonable return on capital whilst maintalnlng acce5S to funds for operntlonal purposes. Plans for futurè p•rlodg Artlvltlespl¥nn•d to aChIe￿ alms Our plans focus on contlnulng to ensure that care eXperien￿d yL￿ng peop￿ have a ￿tter Ilfe through prornotlng posltlve relationships, supt)orting at times of transltjon )nsJ glvlng young people a vol￿. 2024.9 work wlll bulld on our group work for young people from age I I, our one to one adv1￿ and guldan and support In leavlng care. We wlll contlnue to develop our strateglc Influen￿ in temis of enabllng care leavers to fSnd good homes. We wlll be developing rrK)re strategSes to offer 5kllled, Intenslve support to young peopk who are findin9 50citiI erVJaQerr￿t mre challenglng. Trustees and offk•rg The trustees and officers servSng durlng the year and Sin￿ the year end wert as lolbws: Trustees.. Ms J B Hampton Mr M C Ellls Mr A Eade (appolnted 14 March 20231 Ms N D Johnson Ms H Seymour (reslgwl 13 June 20231 Mr R Grant Ms E fvaThs (reslgned 19 January 2023) MrLLtyd Secretsry.. Ms S M EgglThs Stryrturol gov•rnanc• and management 6overnlng document Carefree-F05terlng IndepeTrden￿ Cornwall is a cornpany limlted by Guarantee govern&J by Its Memorandum nd Artlcks of AssocSation dated 23 january 2(￿8 and amended 23 May 2008. It became a reglstered charity with the Charity Commlssion on 12 lune 2008. In the event that the charSty Is wound Upi the members agree to contrfbute an amount of not more than £10 to the assets of the charity. The dlrectors of the company are also charty thJ5tees for the purposes of charfty law. The tru5tee5 may appoint a person who is willing to aLt to be a trustee. Potential trustees meet the tnjstees and Manageff￿nt p￿or to the proposal as a trustee. on￿ appolntsd, trustees undertake an induction into the working of the charity including observlno operational activlty, disujssions wlth staff and ￿e￿Ing Infom1a￿OTr s￿h as accounts and other evaluation documents. The t￿SteeS consl¢Jer the Chlef Execut￿e Officer, Finan￿ Manager and HR Manager to compnse the key management personnd of the charity. The pay of the senlor staff Is ￿vieW&￿ annually and normolly int￿ased In accordan￿ with averagè earnings. In vlew of the nature of the charlty, the Trustees benchmark aoalnst pay levels In other simllar organlsatknns. Pa9e 6 Carefree-Fostering Independence Cornwall Trustees. Report Oryanls•tlon The trustses Ère lÈgèlly resp)nslble for the overall contn)l and manageff*nt of the chamty. The Chief ExecU￿we OffI￿r Is responslble for the day-to-day rnon4gerr￿nt and administratbn of the charity and reports to the trustees. The trustses have examined the major strateglc ￿SkS to which the charfty Is exposed and are satisfied that systems are In place to mlnlmise or mltygate these. The trustees wlll contlnue to revlew potentlal risks on a regular basis and wlll tske further attion to minimise or mltlgate these risks as requlred. Dlsdosum of Infovmatlon to audltor Each trustee has tsken steps that they ought to have taken as a trustee In order to make themselve5 Jware of any relevant audlt InfoTmatlon and to establlsh that the charty's auditor Is aware of that Informatlon. Thè trustee5 confirm that there Is no relevant information that they know of and of which they know the aud￿or Is unaware. The annual report was approved by the trustees of the charity on .. ... and slgned on its behalf by-. Mr M C Ellls Trustee Page 7 Carefree-Fostering Independence Cornwall statement of Trustees. Responsibilities The trustees (who are also dlrectors of Carefree-Fosterlng IndependerKe Cornwall for the purpose5 or company law) are resrA)nslble for prepartng the trustees, ￿pOrt and the fiThan¢i)l statements in attordan wlth appllcable law and Unlted Kingdom Accounting Standards {Unlted Kingdom Generally Accepted Accounting Practice), Including FRS 102 'The Flnancial Reporbng Standard appllcable in the UK and Repu￿1£ of Ireland.. Company law requi￿8 the trustees to prepare flnandal statements for each flnanc6al year. Under comparry law the trustees must not approve the finanthal statements unless they are Sa￿s￿ed that they glve a true and fair vlew of the stste of affalrs of the chathtsbje company and of the Incomlng resI)Ur￿ and appllcatyon of resources, Including Its Sncome and expen¢Jlture, d the chamtable company for that perilxl. In prepariNJ these linèncial ststements, the trustees are required to: select sultsble Jccountlng pollcles and apply them COn￿StentlY• observe the rrtthods and prlnclples In the ChaMUes SORP: make Judgernents and esumates that a￿ reas¢n4ble and prudent,. State whether appllcable accountlng standards, comprtslng FRS 102 have been followed, 5ubJect to any material departures disclosal and explalned In the financlol statements. and prepare the fSnanclal ststements on the going concern basis unle55 it is inappropriate to presun* that the CharItab￿ company wlll contlnue In buslness. The trustees are responsltsle for keeplnq prorer aC￿unung records that can dlsdose wlth reasonable a¢curaLy at any time the financlal pDsltSon of the chartsb￿ tt•mpJny and enable trj ensure that the flnanclal statements compw wlth the Companie5 Act 2006. They are also responslble for safeguardiNJ lthe assets of the charltsble company and hence for tsking reasonab￿ steps the prevention and detectlon of fraud and other irregularitles. Approved by the ttiJstee5 of the charity on and signed on its behaK by.. Mr M C Ellls Trustee Page B Carefree-Fosterlng Independence Cornwall Independent Auditor's Report to the Members of Carefree-Fostering Independence Cornwall Opinion Wè hève audited the firtanckl ststemÈrtts of Carefree-Fostthng Independen￿ Cornwall (the 'charfty') for the year ended 31 December 2023, whlth comprfse the Statement of Financial Activltie5, BalarKe Sheet, Ststement of Cash Flows, and Notes to the Flnanclal Statements, Includlng a summary of sSgnlflcant accountlng policies. The finanoal reporting framework that has been applied In thelr preparntSon Is Unlted Kingdom Accountlng Stsndards, comprising charit￿5 SORP - FRS 102 'The Flnanclal Repoffjng Standard appllcable In the UK and Republlc of Ireland. and appllcable law {Unlted Klngdom Generally Acceptsj Accountlng Practlce). In our opinion the financial statements: glve a true and falr vlew of the state of the charfvs affalrs as at 31 December 2023 and of Its Incomlng resources and applkatlon of resources, Sndudlng Its Income and expendlture, for the year then ended; have been propedy prepared In accordan￿ wlth Vnlted Klngdc>m Generdlly A¢¢ountlng Prattlo; nd have been prepared in accordan￿ w(th the requlrements of the Compbnles Act 2￿6. Basls for oplnlon We conducted our audlt in accordano with Internatlonal Standards on Audltlng {UK) IISAS {UKII and applicable law. Our responsiblllties under th05è Standards a￿ further descrlbed In the auditor responslbllltles for the audSt of the financial $￿teMentS sectfion of our report. We are In¢Jependent of the charlty In accordance wlth the ethlcal requlrements that are relevant to our audlt of the fSnanclal statements In the UK, Indudlng the FRC'S Ethlcal Stsndard, and we have fulfilled our other ethlcal ￿ponsIbIlItIeS In accordan￿ wlth these requlrements. We belleve that the audlt eVIden￿ we have obtslned Is sufflclent and awjroprfate to provlde a basis for our opinion. Conclu#ion8 rnlating to golng concérn In audltlng the financlal statements, we have concluded that the trustees use of the golr¥J concern basls of accountlng In the preparaUon of the flnancSal ststements Is appropmate. Based on the w¢xk we hive perforr￿. we hjve not ￿entIfied any material ufi￿rtaInt￿s relatlng to events or condbb'tsns that, Indlvidually or collertwelys may tast slgnlficant doubt on the charlty's atilllty to contlnue as going concEm for a period c* at kn5t twelve wnonth5 from when the orioinal financlal statements were authoNsed for Sssue. Our re5pons1bll1￿es and the resp)r￿bIlitiÈ% of the trustees wAth respect to golng concern are descrtbed In the relevant sectlons of this report. othÈr Infomiatio The trustees a￿ responslble for the other Informatkjn. The rther infomation compri5e5 the information Included In the anrtrual rerKJrt. other than the financ*1 statements and our auditor's report thererm. Our opinion on the flnancial Straterr￿nts does rK>t cover the other informaUon and, extept to the extent otherwlse expllcluy stated In our rep)rt, we do not express any fom of assurnnce concluslon thereon. In connethon wlth our audit of the financial statements, our resrM)nslblllty Is to read the other Snformatbn and, In dolng so, conslder whether the other Informatlon Is matertally Inconslstent with the finandal statements or our knOw￿￿ge obtained In the audit or otherwise appears to be materlally m15siated. If we i(kntlfy such material inconsistencies or apparent material Misslate￿￿nts. we are required to determine whether there 15 materlal mlsststen*nt In the flnanclal statements or a materlal mlsstst￿ent of the other Inforn￿tIOn. Ir, based on the work we have ￿rformed, we conclude that there Is a materfal mlsststement of thls other inf0m￿tIon, we are required to report that fact. We have nothlng to report In thls regard. Page 9 Carefree-Fostering Independence Cornwall Independent Auditor's Report to the Members of Carefree-Fostering Independence Cornwall Oplnlon on other m•tt•r pr•scrlb•d by th• Companles Art 2006 In our oplnlon, bas&J on the work undertaken In the COUTse of the audit.. the Informatkjn glven in the Trustees, Report for the financlal year fty whth the finandal ststements are prepored is consistent wlth the finanaal statements; and the Trustees, Report has been prepjred in accordan￿ wlth appllcabk legal wulrements. attern on which w• ar• requlred to report by ¢x¢eptitin In the light of our knowledge and understsndlng of the charfty and Its envlronment obtallled In the course of the audit, we hove not Klentified materSal mlsststements In the Trustees, Report. We have nothing to report In respert of the following matters where the Companles Act 2[￿ requlres us to report to you If, In our oplnlon: dequate attoundng records have not been kept, or returns adequate fcf our audlt have not been recelv8J from branches not vlslted by us,. or the financlal statements are not in agreement with the accountlng r￿ordS and returns: or certaln dixlosures of trustees relnuneration sp￿lfIed by law a￿ not rrodÈ,' or we have not rttelveLI all the Information and explanatK)ns we require tr our audlt; or the trustee5 were not entitled to prepare the flnanclal statements In accordance wrth the Small companies regime and take advantage of the small companies, exemptyorls Sn preparing the trustees, report and from the requirernent to prepare a strateglc re[￿. R•sponslblliti•s of trusts•6 As explalned more fully In the Ststement of Twstees, Responsibilit￿5 {5et out L¥) page 8), the trustees are re5pon51ble for the preparatlon of the flnanclal statements and for being satlsned that they glve a true and falr view. and for such intemal Control as the tnjsteès determlne Is necessary to enabk the preparation of financial ststements that a￿ free from materfal rn155taterrtht, whether due to fraud or error. In preparfng the flnanclal statw)ents, the trustees a￿ responslble for asse55lng the charlty's ability to continue as a going contem, dlxloslng, as appllcable, matters related to goong concem and uslng the golng concern ba51s of accountlng unless the tnjstees elther Int￿d to liquidate the charity or to cease operatlons, or have no realisttc altsrnatlve but to do so. Audltor rtspor*lbllltl•s foi the audlt of the flnanclal statemerts Our obkctlves are to obtaln reasonable assurance about whether the nnanclal statements a5 a whole are free from materkil mlsstateTnent. whether due to fraud or error, and to Sssue an audltorfs report that Includes our oplnlon. Reasonable assurance Is a hSgh level of assurnnce, but is not a guarnntee that an audit conducted In ccordantr wtth ISAS {VKI wlll always detert a materfal mls5tatement when it exists. Mlsstatements can arfse frem frau(J or error and a￿ consldered material If, Indlvldually or In t1￿ agoreoate, they could reasonably be expected to Influence the economlc decisions of users taken on the basls of these finarKial statements. The extent to whlth our prO￿UTeS are capable of detecyng Irregularftles, Including fraud is detsiled below: Page 10 Carefree-Fostering Independence Cornwall Independent Auditor's Report to the Members of Carefree-Fostering Independence Cornwall We obtained an understandlng of the legal and regulatory frameworks that are applicabk to the charity at the plannlng stage of the audit. The charlty ts sublert to law5 avKJ regulètfons that dirertly affect the ff nanclal ststements, specifically the CornpanÈs Art 2006, Charttles Act 2011 and Charttyes Ststement of Recommended Practi￿. We assessed the extent of complkince wlth laws and reguladons as of our pr￿edureS on the related flnanclal statement item5. The chartty Is also subjert to laws and regulat*Jn5 where the consequen of non-compl[an￿ could have a material effect on amounts or disdosures In the flnanclal statements. for instsnce through the imposition of fine5 or litigatlon or loss of the tharty's abillty to operate. In maklng thls sse5sment we determlned that the most sSgnlficant elements of leglslation Include those relatlng to ernployment laws and regulatlons, health and safety stsndar(ls and soclal care. Basls on thls understandlng we deS￿ned our audlt procedures to Idenvfy non-complljnce wlth such laws and regulations. Our procedures involved the following: Maklng enquldes of mana9ement wardlng thelr knowledge of any non-c0mp1lan￿ wlth laws and regulatlons that could affert the financial statements. As part of these ewuiries. we also dlscussed wlth management change5 In rfsk assessment relatlng to fraud, and whether there h•ve been any known instances, allegations or svspicions of fraud. of whlch there We￿ none. • Conslderlng the flllngs made at Companles House and any omlsslons thereon, of whlch none were identified. Dlscusslng wlth management compllafflce wlth heath aThJ safety and social care legislation. Makfjng enquiries of management a￿￿ reviewin9 charbty expÈnditure for any evldence of dlsputes. è¢tual or potentlal Iltigatygns and clalms, wlth reguktors or any other such bLyJy. Audlte(J the risk of management OVaTkle of contro15. induding through testing of joumal enffies and other adjustments for appropdatenes5. and evaluaung the ratlonale for slgnlflunt transathons outsi¢Je ihe normal course of cha￿table actlvlties, of whith there were none. Revlewed the esty"mates and J￿ements made In the financlal statements any Indtstbn of iAa5 and chbllenged assumptÉons used by management In makn.ng the estimètss. . Reviewol Board mlnvtes Corresponden￿ wfjth regulators to corrobornte the flndlngs from the ab)ve. Due to the Inherent IlmltstSons of an audSt, there remalns a rlsk that we may not have detect& some material isstatements in the flnanoal statémènts or non-compllance with laws and regulatlons. This Is despSte the fatt that we have propedy ptanned and perforrned our audlt In accordan￿ with au(Siting standaftls. For example, the further ￿moVed irregularftles are from the events and transactlons ￿flected In the fSnandal staterfEnts, the less likely the inheren￿Y limiteij pr￿￿ureS reoulred by auditing standards wouhl ldenb.fy IL As with any audlt, there ￿￿)Ined a high rSsk of non-detectlon of IrregUla￿tIes, as these may Ir¢volve collusion. forgery. intentlonal (Imissh)ns, mL5representstlons. or the ovèrride of Internal controls. Th15 rf5k was redu￿ by a thorough review of all controls in place that monitor items and transactlons affe¢bng the flnandal statements. The prlmary responslblllty for the preventyon al￿ detLXtlon of Irregularltle5 and fraud rests with the trustees of the chadty. All ￿levant law51 regulatlons and slqnlflcant dsks of fra￿1 Idenufled have been clearly cornmunlcated to each member of the audit ery9ement team. We are not responslble for preventyrwJ non-comp11an￿ anta cannot be experted to detect non-c0mplfjan￿ wlth all laws and regulatlons. A further des¢riptlon of our resp0nslbll￿leS Is avallable on the Flnandal Rep)rtfjng Coundl's webslte at- www.frc.org.uklauditorsresponslbiif(les. Thls descriptKJn forn15 part of our aud6toes report. Page 11 Carefree-Fostering Independence Cornwall Independent Auditor's Report to the Members of Carefree-Fostering Independence Cornwall U*• of our rèport This report is made solely to the tharitsble company'5 trustees, os a budy, In accordan￿ wlth Chapter 3 of Part 16 Df the Companles Art 2(X16. Our audlt work has been undertaken so that we mlght state to the charSty's trustees those matters we are requlred to state to them in an auditorf5 report and for no other purpose. To the fullest extert pernitted by law, we do not acceO or assume responslblllty to anyone other than the charStable company and trusttrs as è bcrt1y, for our au¢Jlt work, for thls report, or for the oplnlons we have fomRd. Paula Thomas BA FCA DChA (Senlor Statutory Audltorl For and on behalf of Walker Moyle Lttl. Ststutory Audltor 3 Chapel Street Redruth Cornwall TR15 26Y Page 12 Carefree-Fostering Independence Cornwall Statement of Financlal Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrfcted Restrlcted fund$ fyhd$ Total 2023 T•xal 2022 Jn¢om• •nd Endwm•nts fvom: Donauons and legade5 Charltsble actlvities Invèstment income 12,517 24,857 12,517 1.360,822 20,298 1,131,324 1,335.965 Totsl income 1 335 965 1 377 556 1 152 210 Expènditurn on: Charttble actlvltles 1 316 152 1 351 223 1036 319 Total expenditure Gainsllosses on investment 135.071} 11.316.152) (1,351,223) {1,036,319) 329 329 625 Net ￿￿Orne Transfers between funds 6,191 19,813 26,CWJ4 116,516 Net rTK>vement In funds 6,187 19.817 26,1104 116,516 RKondllatlon of fvnds Totsl funds brought fotward 271 814 460 198 Total fund5 othed forward 21 278 001 208 201 486 202 All of the choritvs artivities derFve from continuing operntions during the above two perh)ds. The ststement of flnandal acttvltles Includes all galns and losses recognlsed in the year. The funds breakdown for 2022 is shown in note 21. The notes on pjges 16 to 31 fom an integr)I part of these financial statements. Page 13 Carefree-Fostering Independence Cornwall (Registration number: 06481146) Balance Sheet as at 31 December 2023 2023 2022 Fix•d •ss•ts Tangible assets Investments 13 14 463 5042 Curr•nt •sMts Debtors Cash at bank ond in hand 15 163.591 149,067 575,952 493,784 Credltor8: Amounts falllng due wlthln ono ye•r 16 N•t Current pssats 480 697 453 975 N¢t •ss¢ts 486 202 Funds of the charli¥: Restrfcted incom¢ funds Restrfrted funds 21 208,201 188,384 Unr•sirlcted Income fvnds un￿$triCted funds 271 814 Total fvnds 21 ¢141 ststements on pages 13 to 31 We￿ approved by the Injstees, and authorised ts Issue on and swJned on their behalf by- Mr M C Éllls Trustee The note5 on pages 16 to 31 fom an Integral part of these financial ststements. Page 14 Carefree-Fostering Independence Cornwall ststement of Cash Flows for the Year Ended 31 December 2023 2023 2022 Cash flows from operatlng •ctl¥llles Net cash Income 26,Ll 116,516 Adjystrnonts to G•6h flowg from n•nw¢•sh It•m$ Depreciation Investment income Revaluatlon of Investments 66 (4,2171 329 556 (588) 625 22,182 115,859 Worklng ¢4pltal adJustm•ts Increase In debtors Increaselldecrease) In credltors Increase In deferred Income 15 16 (14,5241 20,705 160,298) 13,369) Net cash flows from operatlrvJ actIv￿leS Cash flows from Inv•8ilng aCtl¥ltle• Interest ￿e1vable and sSmllar Snc￿(eXpEndltu￿I for the year. Tran5actlon costs are expensed as Incurred. Sh and cash equlvalents Cash ano cash eovlvalents Indude cash In hand, der•)slts held at call wlth bank5, Other slxjrt-term Ilqukl Investmerts wlth orfglnal maturities of three months or less, and bank overdrafts, Bank over spedftc condity¢ns by donors as to htsw they may te used. The purposes and uses of the rtstrirted funds are set out In the notes to the ftftandal statements. Endowment fuThJs are sub)ert to specific conditions by donors that the capitsl must be maintalned by the charlty. employee benefits The cost of any unused hollday entf(lement Is recc*Jnlsed In the perl¢yJ In whlch the employee's Servi￿ are recelved. Terrftlnatlon beneffts are recojnlsed immedlately as an expense when the thèrity is dèmonstrnbty tommitted to temlnate the employment of an employee or to prov¥Je termlnatlon benefit5. Page 18 Carefree-Fosterlng Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 Pension8 and oth•r post rntir•m•nt oblogatlons Payments to deflned contMbuVDn re￿￿ment benefSt schemes are charged J5 an expense as they fall due. Flnandal Instruments The chaity has elected ro apply the provlslons ￿ Sethon 11 'Baslc Flnanclal Insinjments. and Sertlon 12 'other Financial Insiruments Issues. of FRS 102 to all of its financial instruments. FSThandal Instnjments are recoonlsed In the chartys balance sheet when the charlty becomes party to the contractual pn)vlslons of the instrument. Finèn¢ial èssets and liabilities are oftset, with the net amounts presented In the financial statements, when there Is a legally enforceable ￿ght to set off the recogn15ed arTK)unts and there Is an Intentlon to settle on a net basls or to reallse the asset and settle the Ilablllty slmaltsneously. Baslc flnandal￿Sets Basic fintncial a55ets. which include debtors and rnsh and bank balances. are initially measured at transaction price including transactlon costs and are subswuenyy carrfed at amortised £￿t using the effective Interest method unless the arrangernent Cons￿tuteS a flnanclng transactlon, where the transactlon 15 wneasured at the present value of the future recelpts discounted at a market rate of Sntsrest. FlnancSal assets classified as recelvable wlthln one year are not am0￿Sed. Baslc Ilnanclalllabllllles Baslc financlal 1Sablllties, Includlng credltors and bank loans are In[￿allY ￿cOgnISed at transactlon prfce unless the arrangerwt constitutes a financlng transactlon, where the debt Instrument Is measured at the present value of the future payments dlscounted at a mart¢et rate of InteresL FSnancial Ilatslltfjes clas51fled as payable within one year are not amortised. Debt Instruments are subsequentty carrled at amortlsed c05t, U51ng the effect1￿ Inte￿$t rate method. Trade creditors are oblNJati¢)ns to pay for goods or services that have been acouired in the ordinary course of operat10￿ from suppllers. Amounts payable a￿ dasslfied as current 1Sabllltles If payment Is tjue within one year or less. If not, they are presented as non-current 1lablli￿e5. Traf1e credltors are recognlsed In￿lallY at transathon prlce and subsequently measured at an￿ri1$& cost using the effectlve Inte￿$t method. Ffjnancial liabill￿e5 are derecognl*Y when the charws contractual obligJtions explre or are dlscharg8J or n¢e1￿. 3 In¢om• from donaUon$ legade• VnrestrlL%ed fund$ General Total 2023 Totsl 2022 Donauons aThJ legacles; Donatlons and glfts Page 19 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 4 Ineom from th•tltsble actMtI•g Unrestrlrted funds General Re6trlEtsd funds Total 2023 Total 2022 ig Lottery BBC Child￿n In Need Bleu Blanc Rouge Foundatbn Esmee Fairbairn Cornwall Cou￿1 Leaving Care Servlce Comwèll Coundl Engagement & drticipation Servi CHK Foundatlon Learnlng Partnership - Skills Your Way Comwall ComMun￿Y Foundation - ICBMHW Comwall Courril - Broadenlng NO￿20nS Duke of Comwall BenevcAent Fund Comwall Coundl Pre tenjn Award Cornwall Community Foundation FlJbllc Transport Challenge Cornwall Coundl - Levelllng Up DWP Access to Work D of E Famlly Flndlng 8efrfendlng and Mentorlng Cornwall Council - Other other Grants and contracts Other Income 51.097 33,534 78.750 69,562 51,097 33.534 78,750 69,562 54,629 51.812 75,000 50.750 285,665 285,665 276.021 112,584 89,250 112,584 89,250 112,584 76,000 53,722 53,722 50.393 10,000 iO,CN)O 21,250 21,250 70,000 70,000 9,199 9,199 5,0(Kt 37,500 3,469 37,500 3,469 13,140 309,193 82,660 390 13.140 309,193 82,660 239,304 139,764 L 335 965 1 360 822 1 131 324 Page 20 Carefree-Fosterlng Independence Cornwall Notes to the Flnanclal Statements for the Year Ended 31 December 2023 Other Cornwall Councll grants contracts of £309.193 have enabled the charity to dellver speclallst support to prevent Care Leavers becomlr¥J homeless. wort wlth the Multiply initiatwe to emble Ca￿ leavers who do not yet hold a level 2 quallflcatk)n In maths, dellver speclallst 5UPPOrt to help Separated Chlldren Seeking Asylum and offer careers gUIdan￿ and support including through the Compass programme. The amounts Inclvded In other grants and ¢ontracts lrtclude the folbwlng for speclflc purposes: £25,000 - The ￿stening Fund £30.000 - Segelman Trust £27,660 - Cornwall Museum Partnershlp 5 Investment Income UDrestrltt*d fvnds Genornl T¢>tsl 2023 Total 2022 Interest receivable and ￿MIlar Income. Bank Interest re￿1vab 588 6 Exp•ndltur• on charltable artlvltles funds General Restrirt•d funds Total 2023 Totsl 2022 stèff costs DeprecSaUon and Impalrnient Acbvity venue hire Project resources Young people5 travel other piojert costs Funds 4 care purchase5 Household Grants Allocated support costs Governan￿ costs 24.901 1.022,244 1,047.145 798.910 66 4,796 15,527 39,545 22,412 556 5,064 L8,749 26,979 7,890 240 769 7,719 1,054 4,556 14,758 31,826 21,358 39,855 13,314 39,855 13,314 39.185 388 157,329 157.717 125,212 1 316 152 1 351 223 1 036 319 Page 21 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 7 Analys1$ of govemanc4 and support ¢osts Support cosls Unmjtrlthd funds G•neral R•stTiCt•d funds Total 2023 Total 2022 staff costs Rent, rates and insuran Repalrs and malntenan Telephone and fax Computer software and malntenonce costs Printing, postage and ststitinery Sundry expenses Cleaning Bank charges 57,036 23,533 41,228 15,551 57,036 23.533 41,433 15,551 56.032 14,841 5,576 15,688 205 5,501 5,501 6,135 2,754 90 5,501 5,501 6,288 2,754 120 19,995 3,091 7,502 2,325 162 153 30 388 157 329 157 717 L25 2L2 R¢strl¢tsd funds Total 2023 Tgtsl 2022 Audlt of the flnandal ststements Accountan Legal & PrDfes5ional fees 5,940 4,858 5,940 4,858 4.380 3,260 8 Gov•rnmtfit grants Govemment 9rants recogniwj in the financlal ststements are made up of funds from Comwall Coundl, funded by the govemment. The amount of grants r￿OgnIsed In the flnanclal statements was £775,391 (2022 - £627,*19). 9 Net Ineomlngloibtgolng resout Net In¢omlng resources ftr the year Include.. 2023 2022 Audlt fees DepredaVon of flxed assets 4,380 556 Page 22 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 10 Trujteu remuneyatlon •nd expenM• During the year the charity made the following transortions with trustee5: Mr L Lloyd £2412022: £nll) was relmbursed to Mr L Uoyd du￿n9 the year In re5Fect of travd expenses. Mr L Uoyd was also pald a total sum of £274 12022.. £nll) for ses5k)nal wcrt undertsken, carrl&l out In accordan￿ with the charity's ¢)wn MerrK)randum of Association. Mr L Uoyd. as an ellglble benefickry of the charfty, was also In re￿Ipt cl E282 (2022: £nil} in respert of grant payments in the year. Ms J B H•mpton £19 (2022: £n41) was relmburs&l to Ms J B Hampton during the year in reSp￿t of trdvel exper6es. li SLiff costs The aggregate payroll costs were as follows: 2023 2022 Stsff costs durlno the year w¢r Wage5 and salarles Soclal securtty costs Penslon costs 900,820 75,434 710,313 59,075 1016 221 The monthly avernge number of ￿rson$ {indudlng senlor management l ￿dershIp team) employed by the charity during the year expressed a5 full time equlv•lents was a5 follows: 2023 Plo 2022 Charltable a￿V￿leS 35 31 No employee re￿IVed emoluments of more than £60.OLKJ durin9 the year. Page 23 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 12 T•xatlon The charlty Is a reglstered charty and Is therefore exempt from taxaUon. 13 Trnglbh flxed Flxtures and Ilttlngs Totsl At l January 2023 Addlfjons 4.456 529 4,456 529 At 31 De￿mber 2023 Depretlatlon At l January 2023 Charge for the year 4.456 66 4,456 66 At 31 De￿rnber 2023 N¢t book ￿1￿0 At 31 ￿e￿mI￿r 2023 463 463 At 31 December 2022 Page 24 Carefree-Fostering Independence Cornwall Notes to the Financlal Statements for the Year Ended 31 December 2023 14 Flxed a55et Investments Llated Investments Totsl Cost or Valuatlo At l January 2023 Revaluation DlspM)sals 6.223 13291 852 6,223 1329} 852 At 31 December 2023 Net l)ook vplue At 31 December 2023 At 31 D￿mber 2022 15 Debto 2023 2022 Trade dèbtors Prepayments Accnjed Sncome other debtors 36,988 8,760 115.639 10.250 4,197 134.068 552 163 591 16 Cr¢dltors: amounts fallino du4 within offt• ￿•r 2023 2022 Trnde ¢￿dItorS other tsxation and soaal security other creditors Accrua15 Deferred income 5,098 4,881 16,988 Ll,220 6,720 S5,4L6 Page 25 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 17 Obllgatlons under leas•s •nd hlr• pur¢hasg contrarts Operatlng 1th)s• commltments Total futu￿ mlnlmum lease payments under non-cancellable operatiny leases art as follows.. 2023 Land and bulldlttls Withln one year Oth•r wfjthln one year Between one and five yèèrs 614 18 P•n•lon •Thd other schemEs D¢fin•d contrlbutl•)n p•nsloTh 6them¢ The charty werntes a deflned contrfbutkjn penslon scheme for all quallfylng employee5. The assets cl ihe $Cherr￿ ore held separately from tlh)se of the charlty an Independently administered fund. The penslon cost charge for the year ￿presents c0ntrtbu￿OTrs payable by the charlty to the scheme and amounted to £39,967 12022 - £31,484). Contrfbuuons totalllng £nll {2022 - £6.425) wert payable to the scheme at the end of the year Jnd jre Included In creditor& l• Comfflltments Oth•r Ilnanclal commltmenls The charity was committed to bulldlng refvrb1Sh￿nt work5 as at the yeJr-end. These a￿ to be funde(I In full as part of the Commvnlty Levelllng Up programffle. The totsl amount of other flnancial commitments not provided in the financlal statements was £37.5(N) 12022 - £NIII. Page 26 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 20 Continynt Asséts The BBC Chlldren In Need grant Ss a multi-year grant that provfdes for the expendlture of the grant to be for future perSods. The Income In respect of future pe￿OdS has therefore not been Sncludal In the current year accounts. The 9rnnt is a 3-year 9rant to August 2026 to receive the following per year - £35,950. £36,662, £37,388. The Big Lottery Keeping In Touch grant Is a multi-year grant that provide5 expenditure of the grant to be for fvtU￿ perlods. The lrfome In respect of fvture ￿rk)d$ has therefore n¢X been lrfluded In the current year accounts. The grant Is a 5-year grant to Septemtrtr 2026 to rettfve è totsl of £209,463 over the length cl the 8greemenL The Esmeé Falrbalm grant Is a multi-year grnnt that provldes for the expendlture of the grant to be for future perlods. The Income In respect of future pe￿0d5 has therefore not been Included In the current year accounts. The grant Is a 5-year grant to Septemter 2025 to recelve £50,000 per year. The Separated Children Seeking Asylum COn￿Ct Is covered by a multi-year award that provi(Jes expendlture of the grdnt to for future pertod5. The Incorre In re5Fert c* future perlods has therefore not Included In the current year accounts. The contratt is a yÈar-on-yÈar award to recelve around £88,000 per year. The PA & Homelessness project Is covered by a mutti-year award that provldes expendlture of the grant to be for fvture perlods. The Income In respect of futu￿ perfods has therefore not been Sncluded In the current year ccounts. The contract Is a year-on-year award. The BroadeniThJ Horizons PassfKJrt Projert Is covered by a multl-yeor grant that provldes ex￿ndIt￿re of the grant to be for future perlods. The Income In respect of future pedods has therefore not been Induded In the cu￿nt year accounrs. The grant is a 2-year grdnt to March 2025 to ￿￿1ve £25,OtxJ per year. The Multlply In￿latIve Programme 1$ coveroj by a multl-year grant that provldes expeThJlture of the grant to be for fLrture perlods. The Income Sn respect of future perfods has therefore not been Included In the current year accounts. The grant 55 a 3-year grant to Marth 2025 to recelve the following per year - £70,OW. £67,774, E69.887. The 16+ Leavlng Care Servlces prolert Is covered by a multl-year grant that provlde5 expenditure of the grant to be for future ￿rtodS. The Income In respert of future periods has thereforE not Included in current year accounts. The grant is a 5-year grant to June 2026 to recewe £285,668 per year. The EngageTr￿nt & Partldpauon Serv1￿ proJect Is covered by a multl-year grant that prOV￿eS expend￿re or the grant to be for future periods. The Income In respect of future FEriods has therefore not been Included In the current year accounts. The grant Is a 5-year grant to June 2026 to r￿1ve £112,588 per year. The Community Levelling Up progrnmme Is o grant receivoble for building refurbishment work5 that were commltted to during the flnanclal year. The charlty r￿1Ve0 £75,¢X#J as a grant In Narch 2024 In ￿Spect of Wor￿ tsklng pla￿ between Novemter 2023 and February 2024. Page 27 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year ended 31 December 2023 21 Funds Balance at 31 Déeember 2023 Balance at l J•thyary 2023 Incomlno Ta￿Ur(•S R•souvc•s exp•thded Tr•n*f•rn Unrestrfrted funds Unrestricted funds 131,814 41,261 135,070) 122,847) 115,158 Closure costs 140 000 Totsl ynr•#trkted fvDd$ 271814 Rutrlrted funds Blg Lottery Keeplng In Touch B8C Children In Need Bleu Blanc Rouge Foundatlon Esmeé Fairbaim Foundation Comwall Councll - 16+ Careleaver Seryl Cornwall Councll - Partlclpat+on and Engagement Servi￿$ Cornwall Council - Oth Comwall Communlty Foundation - Cost of knving Listèning Fund {Blagrdve Trust} CHK Foundatyon Other Grants Leamlng Partnershlp- Skllls Your Way Segelman TnAst Cornwall Communlty Foundatlon - ICBMHW Cornwall Councll - Broadenlr¥J Homzons Duke of Comwall - Benevolent Fund Comwall Council - Pre tenar￿Y Award Cornwall Communlty Foundation - Public Transport Challenge Comwall Council - Communlty Levelllno Up DWP Access to Wort( 13,372 5,702 51,097 33,534 {53.1351 (37.4001 11,334 1,836 78,750 69,562 (77,4291 (76,0021 1,321 37,496 43,936 (2,2991 285.665 1299.174) {15,808) 19,072 73,163 112,584 309,193 {116,184) {320,107) 15,472 62,249 3,383 <3.384) 4,286 14,303 14,190 25,OCKI 89,250 27,660 (23,034) 180,685) (41,850) 6,252 22,868 (7241 53,722 30,0(K) 147,551) I30,0￿) 5,447 io,oc iio.ooii 21,2 (20,022) 1.228 70,0(K) 118,560) 51,440 9,199 (2,218} 6,981 5,000 (5,002} 37,5C(I 3,469 {37,500} (3,4691 Page 28 Carefree-Fosterlng Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 O•lance at 31 December 2023 8alan¢• at 1 january 2023 Incomlng Resourc experbded Trnnsfer• DofE Famlly Flnding Befrtendlng and Mentorfng Stsff glft contrfbvtlons 13,140 390 (13,140) 305 85 Total restrlrted lynqls 1 335 965 1 316 152 208 201 Total funds 460 198 1 377 226 1 351 222 486 202 Balance at 31 DeCeM￿r 2022 Balance at l January 2022 Incomlng Resourc 60uru• ¢xp¢ndod Transf• Unrejtrkted funds Vnrestrirted funds 84,456 48,782 {1,4031 1231 131,814 Closure costs Capltal reseNe 140,0 556 140,000 556 556 Tot•1 unr•strlct•d funds 23 Blg Lottery KÉèplng In TOL BBC Children In Need Esmeé Falrbalm Foundation Cornwall Councll - 16+ ca￿leaver Servl Cornwall Council - Partitipation and Engagement Servlces Cornwall Councll - Other Cornwall Community Foundatlon - Cost of Ltvlng stenlng Fund (Blagrave Trust) CHK Foundation Other Grants Learning Partner5hip- Skills YL)ur Way Segelman Trust 13,117 16,821 37,500 54.629 51,812 50,750 {54,3741 {62,9311 {44.3141 13,372 5.702 43.936 276,021 1278.320) (2,299) 22,798 8,764 112,584 239,304 1116,310) 1174.907) 19,072 73.163 5.624 11,000 {13.2451 3,383 5,813 23,000 76.000 51.560 {24,5271 {61,6971 {45.618) 4,286 14.303 14,190 8,231 17 50,393 {51,1171 1724} T¢)tsl rertrlrted funth 1 029 053 959 360 23 T¢)tsl fund• 1 077 835 Page 29 Carefree-Fostering Independence Cornwall Notes to the Flnanclal Statements lor the Year Ended 31 December 2023 The spe¢Mc purposes lor which the fvnds are to be èpplied a￿ as follows: Unrestrirted fund5'. These are funds that can be spent freely. The pu￿SeS of the designatej reseNes, as set by the Trustees, Ls as f￿roW$- The Closure costs fund Is to ￿ utilised th* tharity cease to operntt to ensurt that all Closu￿ costs can funded. Restricted funds.. Blg Lottery Keetxng In Touch Group work. Social and emotlonal suprKrt, reslllence bullding posltive actlvltles to young people aged over 16 who are Ca￿ expertenced. BBC Chlldren In Need Peer mentor development Bleu Blanc Rouge FOundat￿n CO￿ fundlng to enable us to help Ca￿ eXperIen￿ youno people have better Ilves. E$M￿ Fairbalm Foundatlon Core fundlng tts promote better erThXlonal and mental health, Irnwove local Serv1￿ and Influen￿ nailonal seNlces for young I￿pIe in and leaving care. Comwall Councll - 16+ Careleaver Servl For provlslon of a Personal Advlstr seryice for young people leavlng Care. Cornwall Councll - Partlclpatlon and Engagement Servl Enabling young people In and leavlng care to associate with thelr p*ers and Influen￿ the servi￿5 they r￿1ve. Comwall Council - Other •Support to cère experienced year Il's wlth careers adv1￿ and guidan￿. •Contain Outbreak Management Fund pllollng work wllh adopted young people. •Fvndlng to help us get care experienced young peopk Into educatlon, eMploY￿1t andlor tsBinlng. Comwall Community FcxJndation A range of small grants to enable us to bulld capadty, SUPPOrt young people to ￿lId rela￿1)nshIpS wh protect agalnst explottaUon and to becon* mre economlcally reslllent. stenlng Fund (Blagrave Trust) Improvln9 how we listen to youn9 peoF4e and Influencang the local aUt￿￿ty to do the sarre. CHK FOUnda￿On Fundlrrfj to enable us to improve housiNJ optTrJns for care eXperIen￿d young people. Learnlng Partner5hlp - Skllls Your Way Funding to offer young peopte who are dlsengaggj, or at rtsk of becomlTrJ d[se￿OUraged, from t￿￿tIon, èMployrr￿nt and tralning access to support approprfjate to thelr Indlvldual needs. Segelman Trust fundlng to enable us to help care eX￿ented young people have better lives. Paoe 30 Carefree-Fostering Independence Cornwall Notes to the Financial Statements for the Year Ended 31 December 2023 22 An•ly•h Of n•t ••s•ts b•tw••n fun Vnrestrirt•d funds fj•neral Total funds 4t 31 De¢tmb•r 2023 funds Tangible lixay a55ets Fixed asset investments Current assets Current Ilabllltles 463 5,042 279.147 5,042 575,952 296.805 Totsl net assets 278 001 208 201 486 202 ljnrestrlrted fund$ Gèner•1 Tt>tèl fund$ at 31 Decembèr 2022 Re5tr1ct•d funds xed asset Investments Current assets Current liablllties 6,223 265,591 6.223 493,784 228,193 Totsi net assets 271 814 188 384 460 198 23 Flnanclal Instruments Categor18atlon of flnanclal In8truments 2023 2022 Financial assets measured at fair volue thwgh profft or l¢>SS 24 RelJted ￿rtY tr￿n￿tiOn9 Key management personnel in 2023 0)nslsted of 3 members of staff (2022.. 31. The remUne￿￿OTr of key management pers<>nnel was £128,807 {2022'. £120,694}, belng aggregate compensatSon for thelr serylces. Transactions totalllng £nil (2022: £1751 relatSng to casual employment of a close farftlly member of one of the key management personnd took place durtng the year. There We￿ £nll amounts outstsnding as at 31 December 202312022: £nll). The charfty Is controlw by the trustees who a￿ all dlre¢tors of the ¢omp8ny. Page 31