Company registration number.. 06481146
Charity registration number.. 1124492
Carefree-Fostering Independence Cornwall
(A company limited by guarantee)
Annual Report and Financlal Statements
for the Year Ended 31 December 2024

Carefree-Fostering Independence Cornwall
Contents
Reference and Administrative Details
Trustees. Report
2to7
statement of Trustees, Respon5ibilitles
Independent Auditors, Report
9t0 12
statement of Financial ActlvSties
13
Balance Sheet
14
Statement of Cash Flows
15
Note5 to the Financial Ststements
16to32

Carefree-Fostering Independence Cornwall
Reference and Administrative Details
Trustees
Ms J B Hampton
Mr M C Ellis
Mr A Earle
Ms N D Johnson
Mr R Grant
Mr L Lloyd (resigned 13 November 2024)
Mx S Griffiths (appointed 13 November 2024)
Company Secretary
Ms S M Eggins
Charity Registration Number
1124492
Company Reglstratlon Number
06481146
Reglstered Offlce
Carefree
Clinton Passage
Redruth
Cornwall
TR15 2AY
Audltor
BK Plus Audit Limlted
3 Chapel Street
Redruth
Comwall
TR15 2BY
Bankers
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Page I

Carefree-Fostering Independence Cornwall
Trustees, Report
The trustees, who are directors for the purposes of company law, present the annual report together with the
financial statements and auditors. report of the charitable company for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note I to the
financial Statements and comply with the charity's Memorandum and Articles of Association, the Companies Act
2006, the Charities Act 2011 and "Accounting and Reporting by Charities- Statement of Recornmended Practice
applicable to charlties preparing their accounts in accordance with the Financial Reporting Standard applicable
In the LtK and Republlc of Ireland (FRS 102)" (as amended for accounting periods commencing from l January
2019),
Objectives and actlvities
Objects and aims
The objects of the Charity are..
To act as a resource for young people up to the age of 25 with particular focus on those aged 13 to 17 IlvSng In
Cornwall and who have been, are or at risk of being in care by provldlng advlce and assistance and organising
programmes of physical, educational and other activitie5 as a means of:
a) Advanclng In life and helping them by developing their skills, capacities and capabilities to enable them to
partlcipate In soclety as independent, mature and responsible individuals-
b) Advanclng education and training i
c) Relievlng unemployment.
d) Providing recrebtlonal and lelsure time actlvity in the interests of social welfare for young people living In the
area of beneflt who have need by reason of their youth, age, infirmity or disability, poverty or Social and
economlc clrcumstances wlth a vlew to improving the conditions of life of such persons.
The prlncipal activity of the charity is to help young people who are care experienced have a good life, through
POSltive relationship5, through support with transitions and through enabling young people to have a voice.
Publlc benefft
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to
have due regard to the public benefit guidance published by the Charity Commlssion for England ènd Wales.
Page 2

Carefree-Fostering Independence Cornwall
Trustees, Report
Achievements and performance
Our Target Outcomes for 2024 are set out below, followed by an infographic of how we achieved them.
S i•br4
Page 3

Carefree-Fostering Independence Cornwall
Trustees. Report
c 4 Carefree
A14NUAL REVIEW 2024
I￿1 l• to h•lp •xporfon¢•d younl p•opl• h•￿ a
iood Ilh.
05
THe
BREAKDOWP4:
351
Ji
Amongst the achlevements of 2024, Trustees want to hlghllght some key areas.
53 young people engaged In local partlclpatlon
In 2024, young people continued to influence and lead the work for Cornwall's Corporate Parenting Board,
working on these three top priorities;
l. Increasing relationship based, trauma informed services which offer young people in and leaving care
conslstencyi a sense of permanence and help to understsnd their own Ilved experien￿ and enable them to
learn, grow and be healthy
2. Better housing options for young people in and leaving care
3. Cornwall Council treating Care Experience as a protected Characteristic
These areas are all long term pieces of work but examples across 2024 included yOLsng people helping to
recruit and train social workers and foster carers, advice to Health Professionals about the experience and
wishes of young people in and leaving care and a significant Housing campaign, leading directly to improved
tenancy support for care leavers. In January 2025 Carefree has been working with Comwall Council and Ocean
Houslng to open Cornwall's first Care leaver Housing Project.
Page 4

Carefree-Fostering Independence Cornwall
Trustees, Report
20 - 30 Young people aged 14-24 volunteering to support others
Kn 2024, 31 young people were trained ancj enabled to support their peers. Young people's leadership and their
support of others has been central to our work since Cèrefree's beginning, when six young people became our
first ever Peer Montors. Young people who are care experienced are a very powerful role model to their peers.
EngagSng young people and connecting with them to enable them to take part in activity that builds positive
relationships offers young people lifelong skills in building positive relationship5, engaging with communities
and havlng a network to rely on.
30 Asylum Seeklng and Refugee chlldren welcomed and supported
In our thlrd year of helplng young people who came In to the care of Comwall Council because they were
Separated Children Seeking Asylum, we supported 73 young people. The young people received a range of
services. They were supported on arrival by a Speaalist Support Worker, enabled to settle in accommodation
and engage with Cornish culture as well as sharing the culture of their country of origin. Young people who
came to us as SCSA young people engaged in leaming how to support others, including becornlng peer
mentors for young people across Carefree.
160 - 180 young people recelvln9 a PA ser￿lee
In 2024, Carefree celebrated elght years of delivering part of Cornwall Councll's Personal Advisor service to
young people leaving care. Thls was the biggest change that Caref￿e has had to date, and the change has had
huge impact on our work. Trustees are aware that the move into co-dellvering some statutory services
alongside the Local Authority has helped Carefree mature as an organisatton. Our very skilled and experienced
PA'S work on a one to one bas15 Wlth care leavers, belng persistent In thelr support of young people, enabling
those young people to know thot there is a consistent adult to 5UPPOrt them In thelr transitSon between being a
child in care and an adult particlpating Independently wlthin soclety. PA'S are also the route through whlch
many young people are enabled to benefit from wider Carefree servlces, Including our Careers servlce whlch
helped 119 young people obtain, or get c105er to. Education Employment or Tralnlng in 2024.
Worklng In Partnershlp
Throughout 2024, Carefree has worked closely wlth local and natlonal partners who include,.
Comwall Council - the soclal worker5, foster carers and PA'S who work dlrectly wSth the young people we
serve but also the wider Local Authority as it continues to develop its ability to be a good Corporate Parent
Health, particularly the designoted nurse team for children in care
Schools and colleges, and Awena, the Vlrtual School for Children in Care
Voluntary and Community sector partners that Carefree has grown up wlth, and learnt so much from along
the way - including WILD, BF Adventure, Young People Cornwall, Barnardos, A Band of Brothers and the CAB
Our Buslness delivery partners, including Out of the box IT and Sapience HR
Financial revlew
The results for the year are shown In the statement of financial activities on page 13 and show net
ncoming/(oulgoing) resource5 for the year of £68,676 {2023: £26,004), a surplus of £39,177 was generated
in respect of unrestricted funds {2023.' £6,187).
Note 21 of the financial statements details the Fund balan￿S held by the charity.
Policy on reserves
The charity holds three months running costs plus closure costs at year-end in line with its reserves policy. This
Is monitored monthly. The balance in unrestricted reserves as at 31 December 2024 is E313,300, comprising
designated closure costs of £209,073 and general reserves is £104,227, which is assessed as adequate to
support the organisatlDn'5 financial stability going forwards.
Investment pollcy and objectives
The trustees have considered the most appropriate policy for investing funds and flnd that the current
arrangement with short term bank deposits meets the requirement to generate a reasonable return on capital
whilst maintaining access to funds for operational purposes.
Page 5

Carefree-Fostering Independence Cornwall
Trustees. Report
Plans for future perlods
Actlvltles planned to achleve aims
Our plans focus on continuing to ensure that care experienced young people have a better life through
promoting positive relationships, supporting at time5 of transition and glving young people a voice.
2025's work wlll bulld on our group work for young people from age 11, our one to one advice and guidance
and support in leaving care. We will continue to develop our strategic influence in terms of enabling care
eavers to flnd good home5. We will be developing more strategie5 to offer skilled, Intensive support to young
people who are finding social engagement more challenging.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows..
Trustees:
Ms J B Hampton
Mr M C Ellls
Mr A Earle
Ms N D Johnson
Mr R Grant
Mr L Uoyd (resigned 13 November 20241
Mx S Grlfflths (appointed 13 November 2024)
Company Secretary:
Ms S M Eggins
Structurei governance and management
Governlng document
Carefree-Fosterin9 llndepende￿￿ Cornwall Is a company limited by Guarantee governed by Its Nemorandum
and Articles of Association dated 23 January 2008 and amended 23 May 2008. It became a registered charity
with the Charity Commission on 12 June 2008. In the event that the charity Ss wound up, the members agree
to contribute an amount of not more than E 10 to the assets of the charity.
Recruitment and Induction of trustees
The directors of the company are also charity trustees for the purposes of charity law, The trustees may
appoint a person who Ss willing to act to be a trustee. Potential truslees meet the trustees and management
prior to the proposal as a trustee. Once aPPOiAted, trustees undcrtake an Induction into the working of the
charity including observing operational activity, discussions with staff and reading Informatlon such as accounts
and other evaluation documents.
Arrangements for setting key management personnel remuneratlon
The trustees conslder the Chief Executive Officer, Finance Manager and HR Manager to comprise the key
management personnel of the charity.
The pay of the senlor 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 similar organisations.
Oryanlsatlon
The trustees are legally responsible for the overall control and management of the charity. The Chief Executive
Officer Is responsible for the day-to-day management and administration of the charity and reports to the
trustees.
Page 6

Carefree-Fostering Independence Cornwall
Trustees. Report
Rlsk management
The trustees have examined the major strategic risks to which the charity Is exposed and are satisfied that
systems are in place to minimise or mitigate these. The trustees will continue to revlew potential r15ks on
regular basis and wlll take further action to mlnlmise or mltigate these risks as requlred.
Disclosure of informatlon to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of
ny relevant audit information and to establish that the charity's auditor is aware of that information. The
trustees confirm that there is no relevènt information that they know of and of which they know the auditor 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 the directo￿ of Carefree-Fostering Independence Cornwall for the purposes of
company law) are responsible for preparing the trustees, report and the financial statements in accordance
with app5icable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial 5taternents for each financial year. Under company law
the trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affalrs of the charitable company and of the incoming resources and appllcatton of
resources, inclLfding its income and expenditure, of the chèritsble company for that period. In preparlng these
financial statements, the trustees are required to-
select suitable accounting policies and apply them consistently
observe the method5 and principles in the Charities SORP;
make judgements and estlmate5 that are reasonable and prudent:
state whether applicable accounting standards. comprising FRS 102 have been followed, subject to any
materlal departures disclosed and explained in the financial statements; and
prepare the flnanclal statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responslble for keeplng proper accounting records that can disclose with reasonable accuracy
at any tlme the financSal posltion of the charitsble company and enable them to ensure that the flnanclal
statements comply wSth the Companies Act 2006. They are also responsible for safeguardlng the assets of the
charStable company and hence for taking reasonable steps for the prevention ènd detectlon of fraud and other
irregularlties.
Approved by the trustees of the charlty on
and slgned on its behalf by:
Mr M C Ellis
Trustee
Page 8

Carefree-Fostering Independence Cornwall
Independent Auditor's Report to the Members of
Carefree-Fostering Independence Cornwall
Opinlon
We have audited the financial statements of Carefree-Fostering Independen￿ Cornwall (the 'chèrity'l for the
year ended 31 December 2024, which comprise the Statement of Financial Activities, Balance Sheet,
statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is United Kingdom
Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Standard applicable in the
UK and Republic of Treland, and applicable law Iunlted Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charty's affair5 as at 31 December 2024 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended.
have been properly prepared in accorclance with United Kingdom Generally Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditlng (UK) (ISAS IUKII and
applicable law. Our responslbillties under those standards are further descrlbed in the auditor re5ponsiblllties
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 with these
requirements. We believe that the audit evidence we have obtained is sumcient and appropriate to provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have CODcluded that the trustees use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a
going concern for a period of at least twelve months from when the original financial statements were
uthorised for issue.
Our responsibilities and the responsiblllties of the trustees with respect to golng concern are described in the
relevant sections of this report.
Other Informatlon
The trustees are responsible for the other information. The other Information comprlses the information
included in the annual report, other than the financiol ststements and our auditor's report thereon. Our opinion
on the financial statements does not cover the other information and, except to the extent otherwise explicitly
stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent wilh the f inanclal statements or
our knowledge obtained in the audit or othe￿•Se appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to determine whether there is a
material misstatement in the financial statements or a material misstatement of the other information. If,
based on the work we have performed. we conclude that there is a material misstatement of this other
information, we are required to report that fact.
We have nothing to report in this regard.
Page 9

Carefree-Fostering Independence Cornwall
Independent Auditor's Report to the Members of
Carefree-Fostering Independence Cornwall
Opinion on other matter prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the Information given in the Trustees, Report for the financial year for which the financial statements are
prepared is consistent with the financial statements. and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are required to report by exceptlon
In the light of our knowledge and understanding of the charity and its environment obtained in the course of
the audit, we have not identified material misstatements in the Trustees. Report.
We have nothing to report in respect of the following matters where the Companie5 Act 2006 requires us to
report to you if, In our opinion:
adequate accountlng records have not been kept, or returns adequate for our audit have not been received
from branches not vlsited by us; or
the financlal statements are not in agreement with the accountlng records and returns. or
certaln disclosures of trustees remuneration specified by law are not made; or
we have not recelved all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial Statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the trustees, report and from
the requirement to prepare a strategic report.
Responslbllitles of trustees
As explained more fully In the Statement of Trustees, Responsibilities (set out on page 81, the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair
view, and for SLJch Internal control as the trustees determine is necessary to enable the preparation of financial
statements that are free from materSal misstatement, whether due to frèud or error.
In preparing the financial statements, the trustees are responsible for assessing the charlty'5 ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accountlng unless the trustees either intend to liquidate the chorlty or to cease operdtions, or have no
reallstic alternatlve but to do so.
Auditor responslbllltles for the audit of the flnancial statements
Our objectives are to obtain reasonable assurance aboul whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that Snclude5 our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wlth ISAS (UK) will always detecl a material misstatement when it exists. M isstatements can arlse
from fraud or error and are considered material if, individually or in the aggregate, they coul(i reasonably be
expected to influence the economic decisions of users taken on the basi5 of these financial statements.
The extent to which our procedures are capable of deterting Irregularltles. including fraud is detailed below:
Page 10

Carefree-Fostering Independence Cornwall
Independent Auditor's Report to the Members of
Carefree-Fostering Independence Cornwall
We obtained an understanding of the legal and regulatory frnmeworks that are applicable to the charity at the
planning stage of the audit. The charity is subject to laws and regulations that directly affect the Financial
statements, specifically the Companies Act 2006. Charities Act 2011 and Charities Ststement of Recommended
Practice. We assessed the extent of compliance with laws and regulations as part of our procedures on the
related financial statement items. The charity is also subjert to laws and regulations where the consequences
of non-compliance could have a material effect on amounts or disclosures in the financial statements, for
instance through the imposition of fines or litigation or loss of the charity's ability to operate. In making this
assessment we determined that the most significant elements of legislation Include those relating to
employmenl laws and regulations, health and safety standards and soclal care.
Basi5 on this understandlng we deslgned our audit procedures to identlfy non-compliance with such laws and
regulallon5. Qur procedure5 Snvolved the following-
Making enqulries of management regardlng their knowledge of any non-comp15ance wlth laws and regulatlons
that could affect the financial statements. As part of these enquiries, we a150 discussed wlth management
changes in risk assessment relating to frau(J. and whether there have been any known Instances, allegauons or
suspicions of fraud, of which there were none.
Considering the filings made at Companies House and any omissions thereon, of which none were identified.
Discussing with management complIan￿ wlth health and safety and social care legislation.
Making enquiries of management and reviewing charity expenditure for any evidence of disputes, actual or
potential litigations and claims, with regulators or any other such body.
Audlted the risk of management override of controls, including through testing of journal entries and other
adjustments for appropriateness, and evaluating the rationale for signiflcant transactions outside the normal
course of charitable activltles, of which there were none.
Revlewed the estimates and judgements made in the financial statements for any indication of bias and
challenged assumptlons used by management in making the estimates.
Reviewed Board minutes and correspondence with regulators to corroborate the findings from the above,
Due to the inherent limitations of on audit, there remains a risk that we rnay not have detected sorne material
misstatements in the financial statements or non-compliance with law5 and regulations. This is despite the fact
that we have properly planned and performed our audit in accordance with auditing standards. For example,
the further removed irregularities are from the events and transactions reflected in the financial statements,
the less likely the inherently limited procedures reqvired by auditing standards would identify it. As with any
audit, there remained a high risk of non-detection of irregularities, as these may involve collusion, forgery,
Intentional omissions, misrepresentstions, or the override of internal controls. This risk was reduced by a
thorough revlew of all controls in place that monitor items and transactlons affecting the financial statements.
The prlmary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of
the charity.
All relevant laws, regulation5 and significant risk5 of Fraud identlfied have been clearly communicated to each
member of the audit engagement team.
We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with
all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Page 11

Carefree~Fostering Independence Cornwall
Independent Auditor's Report to the Members of
Carefree-Fostering Independence Cornwall
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been ¢Jndertaken so that we might state to the charity's
trustees those matter5 we are required to state to them In an auditor's report and for no other purpose, To the
fullesi extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable
company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
David Plastings FMAAT ACA (Senior Statutory Auditor)
For and on behalf of BK Wus Audit Limited, Statutory Auditor
3 Chapel Street
Redruth
Cornwall
TR15 2BY
Page 12

Carefree-Fostering Independence Cornwall
Statement of Financial Activities for the Year Ended 31 December
2024
(Including Income and Expenditure Account and Statement of
Total Recognised Gains and Losses)
Unrestrirted
funds
Restrlcted
funds
Total
2024
Total
2023
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
11,370
55.151
11,370
1.470,533
12,517
1,360,822
1.415,382
Total income
1 415 382
1 490 337
1 377 5S6
Expenditure on:
Charitable activities
1 385 883
1 422 070
1 351 223
Total expenditure
Gains/losses on investment
assets
(36,187)
(1,385,883)
(1,422,070)
(1,351,223)
409
409
329
Net income
Transfers between funds
39,177
29,499
68,676
26,004
Net movement in funds
35,299
33,377
68,676
26,004
Reconclllatlon of funds
Total funds brought forward
278 001
208 201
486 202
460 198
Total funds carried forward
21
313 300
241 578
554 878
486 202
All of the charity's activitles derive from continuing operations during the above two periods.
The statement of financial activities includes all gains and losses reco9nised in the year.
The fund5 breakdown for 2023 is shown in note 21.
The notes on pages 16 to 32 fomi an integral part of these ffinanaal statements.
Page 13

Carefree-Fostering Independence Cornwall
(Registration number: 06481146)
Balance Sheet as at 31 December 2024
2024
2023
Note
Flxed asset5
Tangible assets
Investments
13
5,119
463
14
Current assets
Debtors
Cash at bank and In hand
15
100,349
597 378
163,591
412 361
697,727
575,952
Creditors: Amounts falling due within one year
16
150 852
Net current assets
546 875
480 697
Net assets
554 878
486 202
Funds of the charlty:
Restricted Income funds
Restricted funds
21
241,578
208,201
Unrestrlcted Income funds
Unrestrlcted funds
313 300
278 001
Total funds
21
554 878
486 202
The financial statements on pages 13 to 32 were approved by the trustees, and author15ed for 155ue on
74/+13.C .
nd slgned on their behalf by:
Mr M C Ellis
Trustee
The notes on pages 16 to 32 fomi an integral part of these finanaal statements.
Page 14

Carefree-Fostering Independence Cornwall
statement of Cash Flows for the Year Ended 31 December 2024
2024
2023
Note
Cash flows from operatlng act5vlties
Net cash income
68,676
26,004
Adlustments to cash flows from non-cash items
Depreciatlon
Investment income
Revaluation of Investments
1,464
(8,434)
409
66
(4,217)
329
61,297
22,182
Working capital adjustments
Decreasel(increase) in debtors
(Decrease)lincrease In credltors
Increase in deferred income
15
16
63,242
(6,256)
114,524)
20,705
Net cash flows from operating activities
180 136
Cash tlows from Investing activities
Interest receivable and similar income
Purchase of tangible fixed assets
Purchase of Investments
Sale of investments
8,434
(6,120>
(5,359)
4,217
(529)
13
14
852
Net cash flows from investing activities
Net Increase In cash and cash equivalents
185,017
67,644
Cash and cash equivalents at l January
412 361
344 717
Cash and cash equivalents at 31 De￿rnber
597 378
412 361
All of the Cash flows ère derlved from continulng operations during the above periods.
The notes on pages 16 to 32 form an integral part of these financial statements.
P3ge 15

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
I Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share
capitsl. Each of the trustees is lièble to contribute an amount not exceeding £10 towards the assets of the
charlty in the event of liquldation.
The address of its registered office is:
Carefree
Cllnton Passage
Redruth
Cornwall
TR15 2AY
2 Accountlng pollcles
Summary of slgnlflcant accountlng pollcles Jnd key accountlng estlmates
The principal accounting policies applied in the preparation of these financial statements are set out below.
These pollcies have been cons1Stently applied to all the years presented, unless otherwise stated.
Statement of compllance
The financial statements have been prepared in accordance with the charlty's Memorandum and Articles of
Assoclation, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 1021.
Basls of preparatlon
The charity Is a Public 8enefit Entlty as defined by FRS 102.
The financlal statements are prepared In sterling, which is the functional currency of the charlty. Monetary
amounts in these flnanclal ststements are rounded to the nearest £.
The flnancial statements have been prepared under the hlstorlcal cost convention. The princlpal accounting
policies adopted are sel out below.
Golng concern
The financial statements have been prepared on a going con￿rn basis.
At the time of approving the finanoal staternents, the trustees have a reasonable expectation that the charity
has adequate resoLtrces to continue In operational existence for the foreseeable future. Thus the trustees
conLlnue to adopt the golng concern basis of accounting in preparing the financlal statements.
Page 16

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
Critlcal accounting estimates and jud9ernents
In application of the charity's accounting policies. the tru5tee5 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 estimates and associated assumptions are based on historical experien￿ and other factors that
re considered to be relevant. Artual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estlmates 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 future periods where the revision affects both current and future
perlods.
Income
Income Is recognised when the charity is legally entitled to It after any performance conditlons have been met,
the amounts can be measured reliably, and It is probable that income will be received.
Cash donation5 are recognised on receipt. other donations are recognlsed once the charlty has been notlfied af
the donation, unless performance conditions require deferral of the amount, Income tax recoverable In relatlon
to donations received under Gift Aid or deeds of covenant is reco9nised at the time of the donatlon.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impendlng dlstrlbution,
the amount Is known, and receipt is expected. If the amount Is not known, the legacy Is treated as a
contingent a55et.
Investment income is recognised on a receivable basis.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any condltlons Ilnked to the grants
have been met. Where performance conditions are attached to the grant and are yet to be met, the Income Is
recognised as a liability and included on the balance sheet as deferred income to be released.
Deferred inc¢)me
Deferred income represents amounts received for future periods and is released to incoming reSoUr￿S in the
period for which, It ha5 been received. Such income is only deferred when:
The donor specifles that the grant or donatlon must only be used In future accounting period5. or
The donor has imp05ed condilion5 whith must be met before the charity has uncondltional entitlement.
Expendlture
All expendlture is recognised once there is a legal or constructive obligation to that expenditure, it Is probable
settlement 15 required and the amount can be measured reliably. All costs are allocated tu the appllcable
expendlture heading that aggregate similar costs to that ote90ry.
Charltable artlvltles
Charitable expenditure comprises those costs incurred by the charity in the delivery of its actlvlties and
servlces for its beneficiaries. It includes both costs that can be allocated direcily to such actlvlties and those
costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basi5 consistent
with the use of resources, for example, allocating stsff costs by the time spent and other costs by thelr usage.
Governance costs
Governance costs include costs of the preparation and examination of the statutory accounts, the c05t5 of
trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Page 17

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
Taxatlon
The chèrlty Is considered to pas5 the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meet5 the definition of a charitsble company for UK corporation tax purposes. Accordingly, the
charity is potentially exempt from taxation in respect of income or capital gains received within categorles
covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Galns Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tanglble flxed assets
Tangible fixed assets costing £500 or more are capitalised and are initia15y measured at cost and subsequently
measured at cost or voluatlon, net of depreciatlon and any impaimient 1055es.
The galn or loss arlslng on the disposal of an asset is determlned as the difference between the sale proceeds
and the ¢arrylng value of the asset, and Is recognised in the statement of financial activities.
Depreclation and amortisation
Depreciation Is provided on tangible fixed assets so as to write off the cost or valuation, less any estlmated
residual value, over their expected useful economic life as follows:
Asset class
Fixtures and fittlngs
Depreclatlon method and rate
25010 Straight line basls
Impairment of fixed assets
At each reporting date, the charlty reviews the carrylng amounts of Its tangible a$5ets to determine whether
there is any indication that those assets have suffered an impairment loss. If ony such Indlcation exlsts, tt*e
recoverable amount of the asset is estimated In order to determine the extent of the Impairment loss (if any).
Flxed asset Investments
Fixed asset investment5 are Inltially measured at transartlon price excluding transactlon costs, and are
subsequently measured at fair value at each reporting date. Changes In falr value are recognised in net
incomel(expenditure) for the year. Transèttion costs ère expensed ès Incurred.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquld
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrawings in current liabilities.
Fund structure
Unrestricted funds are available for use at the dlscretion of the trustees In furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financial statements.
Endowment fund5 are Subject to specific conditions by donor5 that the capital must be maintained by the
charlty.
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services ère
received.
Termination benefits are recognised immediatety a5 an expense when the charity is demonstrably committed to
temiinate the employment of an employee or to provide termination benefits.
Page 18

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
Pensions and other post retlrement obligations
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Financial instruments
The charity has elected to apply the prov5sion5 of Section 11 'Baslc Financial Instruments. and Section 12
'other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contraclual provision5 of the instrument.
Financlal assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforccable right to Set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simaltaneously.
asic financial assets
Baslc flnancial a55ets, whlch Include debtors and cash and bank balance5, are initially measured at transaction
price including transaction costs and are subsequently carrled at amortised cost using the effective interest
method unle55 the arrangement con5kntutes a financing transaction, where the transaction is measured at the
present value of the fulure receipts discounted al a market rate of interest. Financial a55ets classified as
receivable within one year are not amortised.
Baslc flnanclal liabllitles
Baslc flnanclal Ilablllties, Including credltors and bank loans are Inltially recognlsed at transactlon prlce unless
the arrangement constitutes a financing transaction, where the debt instwment Is measured èt the present
value of the future payments discounted at a market rate of interest. Financlal liablllties classifled as payable
within one year are not amortised.
Debt Instruments are subsequently carrled at amortised cost, uslng the effective Interest rate method,
Trade credltors are obligatlons to pay for goods or servlces that have been acquired in the ordinary course of
operations from suppller5. Amounts payable a￿ classified as current liabilitles If payment Is due wlthin one
year or less. If not, they are presented as non-current liabilities. Trade creditors ère recognised Initially at
transaction price and subsequently measured at arnortlsed cost using the effective interest method.
Financial Ilabllitles are derecognised when the charity's contractual obligations expire or are dlscharged or
cancelled.
3 Income from donatlons and legacles
Unrestricted
funds
General
Total
2024
Total
2023
Donations and legacies;
Donation5 and gifts
Page 19

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
4 Xncome from charltable actlvltie5
Unrestrlcted
funds
General
Restrlrted
funds
Total
2024
Total
2023
Big Lottery
BBC Children In Need
Bleu 8lanc Rouge Foundation
Esmee Fairbairn
Cornwall Council Leaving Care
Service
Cornwall Council Engagement &
Participation Service
CHK Foundation
Cornwall Community Foundatlon
ICBMHW
Cornwall Council - Broadening
Horizons
Duke of Cornwall Benevolent
Fund
Cornwall Council Pre tenancy
Award
Cornwall Council - Levelling Up
Cornwall Community Foundation
Publlc Transport Challenge
other Income
49,908
34,390
75,000
50.000
49,908
34,390
75,000
50,000
51,097
33,534
78,750
69,562
334,112
334,112
285,665
112,591
112,591
112,584
89,250
10,000
25,000
25,000
21,250
70,000
9,199
37,500
37,500
37,500
5,000
25,247
3,469
309,193
55,151
500
3,330
270,821
55,651
3,330
270,821
DWP Access to Work
Cornwall Councll Other
D of E Family Finding Befriending
and Mentorlng
Learnlng Partnershlp - Skills Your
Way
Cornwall Community Foundation
People In Mind
Careers Soulh West - Youth
Engagement Project
Awards 4 All
N HS Unlversal Famlly Project
Cornwall Voluntary Sector Forum
Cornwall Community Foundation
Welcome Project
Cornwall Community Foundation
Careleavers Fund
Cornwall Council - People Hub
EKB Fund - Health & Wellbeing
Cornwall Council - SPF Capacity
Building
other Grants and contracts
121,623
121,623
13,140
53,722
12,500
12,500
72,781
20,000
28,300
1,150
72,781
20,000
28,300
1,150
5.000
5,000
70,000
22,876
20,000
70,000
22,870
20,000
18,000
18,000
1 415 382
1 470 533
1 360 822
Page 20

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
Other Cornwall Council grants and contracts of £270.821 have enabled the charity to deliver speciallst 5UPPOrt
to prevent Care Leavers becoming homeless, work with the Multiply initiative to enable care leavers who do not
yet hold a level 2 qualiflcatlon in maths, dellver specialist support to help Separated Children Seeking Asylurn
ènd offer careers guldance and support including through the Compass programme.
The amounts included in other grants and contracts for this year include the following for specific purposes..
£30,000 - Segelman Trust
5 Investment Income
Unrestrlrted
funds
General
Total
2024
Total
2023
Interest receivable and slmilar Income;
Bank Interest recelvable
6 Expenditure on charltable actlvltles
Unrestrlcted
funds
General
Restricted
funds
Total
2024
Total
2023
Note
Staff costs
Depreciation and
Impairment
Activity venue hire
Project resources
Young peoples travel
Other projert costs
Funds 4 care
purchases
Household Grants
Allocated support
costs
Governance costs
30,951
1,036,534
1,067,485
1,047,145
1,464
2,277
14,637
43,531
25,122
1,464
2,277
14,637
45,365
25,122
66
4,796
15,527
39,545
22,412
1,834
37,090
28,000
37,090
28,000
39,855
13,314
3,402
186,320
189,722
157,717
1 385 883
1 422 070
1 351 223
Page 21

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
7 Analysis of governance and support costs
Support costs
Unrestrlcted
funds
General
Restricted
funds
Total
2024
Total
2023
staff cost5
Rent. rates and insurance
Repalrs and malntenance
Telephone and fax
Computer software and
maSntenance costs
Printlng, postage and stationery
Sundry expenses
Cleanlng
8ank charges
2,035
1,050
S2
90,357
L9,518
41,374
15,993
92,392
20,568
41,426
15,993
57,036
23,533
41,433
15,551
3,830
4,671
7,382
3,027
168
3,830
4,671
7,647
3,027
168
5,501
5,501
6,288
2,754
120
265
186 320
189 722
157 717
Governance costs
Restrlcted
funds
Total
2024
Total
2023
Aud it of the financial statements
Accountancy
Legal & Professional fees
5,940
4,920
48
5,940
4,920
48
5,940
4,858
48
8 Government grants
Government grants recognised In the financial statements are made up of funds from Cornwall Council, funded
by the govemment.
The amount of grants recogrilsed In the flnanclal statements was £820,900 (2023 - £775,391).
9 Net incoming/outgoin9 resources
Net incomlng resources for the year include:
2024
2023
Audit fees
Depreciation of fixed assets
5,940
5,940
66
Page 22

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
10 Trustees remuneratlon and expense5
During the year the charity made the following transactions with tru5tees'.
Mr L Lloyd
£296 (2023: £24) was reimbursed to Mr L Uoyd dur¢ng the year in respect of travel expenses.
Mr L Uoyd was also paid a total sum of £357 (2023., £274) for sesslonal work undertaken, carried Dut in
accordance with the charity's own Memorandum of Association.
Mr L Lloyd, as an eligible beneficiary of the chadty, was a150 In receipt of £154 (2023: £282) in respect of
grant payments In the year.
Ms J 8 Hampton
£20 (2023.. £19) was relmbursed to Ms l B Hampton during the year in respect of travel expenses.
11 staff costs
The aggregète payroll costs were as follows.,
2024
2023
Staff costs durlng the year were:
Wages and salaries
Social security costs
Penslon costs
942,407
81,891
900,820
75,434
1 065 548
1 016 221
The monthly average number of persons (including senlor management / leadership tearn) employed by the
charlly durlng the year expressed as full time equivalents was as follow5..
2024
No
2023
No
Charitable activitles
36
35
No employee received emoluments of more than £60,000 during the year.
Page 23

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
12 Taxation
The charlty is a registered charity and is therefore exempt from taxation.
13 Tangible fixed assets
Fixtures and
fittings
Total
Cost
At l January 2024
Additions
4,985
4,985
At 31 December 2024
Depreciation
At l January 2024
Charge for the year
4,522
4,522
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
463
463
Page 24

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
14 Flxed asset investments
Llsted
Investments
Total
Cost or Valuatlon
At l January 2024
Revaluatlon
Additions
Disposals
5,042
409
5,042
409
5,359
5,359
Al 31 December 2024
2,884
2,884
Net bcok value
At 31 December 2024
At 31 December 2023
15 Debtors
2024
2Q23
Trade debtors
Prepayments
Accrued income
other debtors
36,988
8,760
115,639
5,733
88,474
100 349
163 591
16 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social securlty
other creditor5
Accruals
Deferred income
14,682
21.131
388
18,057
5,098
55,41.6
150 852
Page 25

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
17 Obligations under leases and hlre purchase contracts
Operating lease commitments
Total future minlmum lease payments under non-cancellable operating leases are as follows:
2024
2023
Land and bulldlngs
Within one year
other
Within one year
Between one and five years
614
511
614
18 Penslon and other schemes
Deflned contrlbutlon penslon scheme
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 penslon cost
charge for the year represents contributions payable by the charity to the scheme and amounted to £41,250
(2023 - £39,967).
Contrlbutions totalllng £388 (2023 £nil) were payable to the scheme at the end of the year and are included
in crediior5.
19 Commltments
other flnaftclal commltments
The charity was cornmitted to bulldlng refurblshment works as at the prior year-end. These were funded in full
as part of the Community Levelling Up programme.
The total amount of other financial commitments not provided in the financial statements was £Nil (2023
£37,500).
Page 26

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
20 Contlngent assets
The BBC Children In Need grant is a multi-year grant that provides for the expenditure of the grant to be for
ftjture periods. The income in respect of future period5 has therefore not been included in the current year
accounts. The grant is a 3-year grant to August 2026 to receive the following per year - £35,950, £36,662,
£37,388.
The Blg Lottery Keeplng In Touch grant 15 a multl-year grant that provides expendlture of the grant to be for
future perlods. The Income in respect of future periods has therefore not been included in the current year
accounts. The grant is a 5-year grant to September 2026 to recelve a total of £209,463 over the length of the
agreement.
The Esmeé Fairboirn grant is a multi-year grant that provides for the expenditure of the grant to be for future
periods. The income in respect of future periods has therefore not been included in the current year accounts.
The grant Is a 5-year grant to September 2025 to receive £50,000 per year.
The Separated Children Seeking Asylum contract is covered by a multi-year award that provides expenditure of
the grant to be for future periods. The income in respect of future periods has therefore not been included in
the current year accounts, The contract is a year-on-year award to receive around £97,472 per year,
The PA & Homelessness project is covered by a multi-year award that provides expenditure of the grant to be
for future periods, The income In respert of future perlods has therefore not been Included in the current year
accounts. The contract is a year-on-year award.
The Multlply Inlllative Programme is cove￿1 by a multi-year grant that provldes expendlture of the grant to be
for future perlods. The Income In respect of future periods has therefore not been Included In the current year
ccounts, The grant is a 3-year grant to March 2025 to receive the followlng per year
£70,000, £67,774,
£69,887.
The 16+ Leavlng Care Servlces project Is covered by a multi-year grant that provldes expendlture of the grant
to be for future perlods. The Sncome In respect of future perlods has therefore not been included in the current
year accounts. The grant 15 a 5-year grant to June 2026 to receive £285,668 per year.
The Engagement & Participation Servlce project is covered by a multi-year grant that provides expendlture of
the grant to be for future periods. The income In respect of future perlods has therefore not been included In
the current year accounts. The grant 15 a 5-year grant to June 2026 to receive £112,588 per year.
The Family finding, Befriending and Mentoring Programme is covered by a multi-year grant that provldes
expenditure of the grant to be for future periods. The income in respect of future periods has therefore not
been included in the current year accounts. This a grant to March 2025 to receive a totèl of £168,887 over the
length of the agreement.
The Careers South West
Youth Engagement Project is covered by a multi-year grant that provides
expenditure of the grant to be for future periods. The income in respect of future periods has therefore not
been included in Ihe current year accounts. The grant is a 2-year grant to March 2025 to receive a total of
£90,998 over the length of the agreement.
The NHS Unlversal Famlly Project is covered by a grant that provldes expenditure of the grant to be for future
periods. The income in respect of future periods has therefore not been included in the current year accounts.
The grant is a l-year grant to March 2025 to receive a total of £36,900 over the length of the agreement.
The Comwall and the 151es of Scllly People Hub Is covered a 6-month grant that provides expenditure of the
grant to be for future period5. The income in respect of future periods has therefore not been included in the
current year accounts. The grant is to March 2025 to receive a totsl of £43,811 over the length of the
agreement.
Page 27

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
21 Funds
Balance at
Balance at
l January
2024
Incoming
resources
Resources
expended
December
2024
Transfers
Unrestrlcted funds
General
Unrestrlcted funds
115,158
75,364
<36,187)
(50,108)
104,227
Deslgnated
Closure costs
162 843
209 073
Total unrestrlcted funds
278 001
313 300
Restricted funds
Big Lottery Keeping In
Touch
BBC Children In Need
Bleu Blanc Rouge
Foundation
Esmeé Fairbalrn Foundatlon
Cornwall Council - 16+
Careleaver Servi
Cornwall Council
Participation and
Engagement Services
Cornwall Council Other
Listening Fund (Blagrave
Trust)
CHK Foundation
Learning Partnership - Skills
Your Way
Segelman Trust
Cornwall Council
Broadening Horizons
Duke of Cornwall
Benevolent Fund
Cornwall Council - Pre
tenancy Award
Cornwall Council
Community Levelling Up
Cornwall Community
Foundation - People in Mind
DWP Access to Work
DofE Famlly Flndlng
Befrlendlng and Nentoring
Careers South West - Youth
Engagement Project
EKB Fund - Health &
Wellbeing
Awards 4 All
11,334
1,836
49,908
34,390
(48,329)
(36,128)
12.913
98
1,321
37,496
75,000
50,000
(75,429)
(41,415)
892
46,081
(15,808)
334,112
(272,598)
45,706
15,472
62,249
112,591
270,822
(100,573)
(322,004)
27,490
13,149
2,082
6,252
22,868
(6,252)
(22,8681
5,447
(5,240)
(22,410)
207
7,590
30,000
1,228
25,000
(25,455)
773
51,440
(31,928)
19,512
6,981
(6,606)
375
37,500
(37,500)
12,500
3,330
{12,500)
{3.330)
121,623
(121.623)
72,781
(72,8 10)
29
20,000
20,000
Page 28
(20,000)
(5,248}
14,752

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
Balance at
31
December
Balance at
l January
2024
Incoming
resources
Resources
expended
Transfers
2024
Cornwall Community
Foundation - Welcome Fund
NHS Universal Familv
Project
Cornwall Voluntary Sector
Forum
Cornwall Council - SPF
Better Homes for
Careleavers
Cornwall Community
Foundation - CCL4
Careleaver Fund
Cornwall Council - SPF
People Hub
Stsff glft contrlbutlons
5.000
(4,226)
774
28,300
(21,955)
6,345
1.150
(1. 150)
18,000
(18,000)
70,000
{28.573)
41,427
22,876
(21,149)
585
1,767
3,494
85
Total restricted funds
208,201
1 415 383
1 385 884
241 578
Total funds
486 202
1 422 071
554 878
Balance at
31
December
2023
Balance Jt
l January
2023
Incomlng
resources
Resources
expended
Transfers
Unrestrlcted funds
General
Unrestricted funds
131,814
41,261
(35,070)
(22,847)
115,158
Deslgnated
Closure costs
140 000
162 843
Total unrestrlrted funds
271 814
278 001
Restricted
Big Lottery Keeping In
Touch
BBC Children In Need
Bleu Blanc Rouge
Foundation
Esmee Fairbairn Foundation
Cornwall Cour5ciI - 16+
Careleaver Service
Cornwall Council
Participation and
Engagement Servlces
Cornwall Council Other
13,372
5,702
51,097
33,534
{53,135)
(37,400)
11,334
1,836
78,750
69,562
(77,429)
(76,002)
1,321
37,496
43,936
{2,299)
285,665
{299, 174)
(15,808)
19,072
73,163
112,584
309,193
(116.184)
(320,107)
15,472
62,249
Cornwall Community
FoLtndation - Cost of Living
Listening Fund (Blagrave
Trusti
3,383
(3.384)
4,286
25,000
Page 29
(23,034)
6,252

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
BalaTr￿ at
31
December
2023
Balance at
l January
2023
Incoming
resources
Resources
expended
Transfers
CHK Foundation
other Grants
Learning Partnershlp Skills
Your Wav
Segelman Trust
Cornwall Community
Foundation - ECBMHW
Cornwall Councll
Broadening Horlzon5
Duke of Cornwall
Benevolent Fund
14,303
14,190
89.250
27,660
{80,685)
{41,850)
22,868
(724}
53,722
30.000
(47,55 1)
(30,000)
5,447
10,000
(io,ooi)
21.250
(20,022)
1,228
70,000
{18,560)
51,440
Cornwall Council - Pre
tenancy Award
Cornwall Communlty
Foundation - Publlc
Transport Challenge
Cornwall Council
Community Levelling Up
DWP Access to Work
DofE Family Flndlng
Befriending and Mentoring
staff gift contributlon5
9,199
(2,218)
6,981
5,000
(S,002)
37,500
3,469
(37,500)
(3,469)
13,140
(13,140)
305
85
Total restricted funds
188 384
1 335 965
1 316 152
208 201
Total funds
460 198
1 351 222
486 202
Page 30

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
The specific purpose5 for which the funds are to be applied are as follows-
Unrestricted funds:
These are funds that can be spent freely. The purposes of the designated reserves, as set by the Trustee5, 15
as follows:
The Closure costs fund is to be utlllsed Should the charity cease to operate to ensure that all closure costs can
be funded.
Restricted funds:
Big Lottery Keeping In Touch
Group work, Social and emotional support, resilience building positive activities to young people aged over 16
who are care experienced.
BBC Children In Need
Peer mentor development.
81eu Blanc Rouge Foundation
Core funding to enable us to help care experienced young people have better lives.
Esmeé Falrbalrn Foundation
Core fundlng to promote better emotional and mental health, Improve local services and influence national
servlces for young people In and leaving care.
Cornwall Council - 16+ Careleaver Service
For provlsion of a Personal Advisor servlce for young people leaving care.
Comwall Council - Participation and Engagement Services
Enabling young people in and leaving care to associate with their peers and influence the services they recelve.
Cornwall Council - Other
•Support to care experienced year I I's with careers advi￿ and guidance.
•Contain Outbreak Management Fund piloting work with adopted young people.
•Funding to help us get care experienced young people into education, employment and/or training.
Cornwall Community Foundation
CCLA fund to improve outcomes for care leavers aged 18 and above including with Housing and emotional
well belng.
People In Mlnd
being,
Welcome Fund - to 5UPPOrt work wlth young people who ère Separated Chlldren Seeking Asylum
enabllng care experienced young people to build social connection to improve emotional well
CSW Group
Youth Engagement Project (Yepl) promoting better education and employment engagement,
Department of Education
Family Finding, Befriending and Mentoring fund enabling in depth support to young people to enable them to
engage with positive activities.
Segelman Trust
Core funding to enable us to help care experienced young people have better Ilves.
Page 31

Carefree-Fostering Independence Cornwall
Notes to the Financial Statements for the Year Ended 31
December 2024
22 Analysls of net assets between funds
Unrestricted
funds
General
Total funds at
31 December
2024
Restrlcted
funds
Tangible fixed assets
Fixed asset investments
Current assets
5,119
5,119
2,884
697,727
J50 8S2
2,884
316,971
380,756
144 297
Current liabilities
Total net assets
313 300
241 578
554 878
Unrestrlcted
funds
General
Total funds at
31 December
2023
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
463
463
5,042
575,952
5,042
279,147
296,805
Current Ilabllltles
Total net assets
278 001
208 201
486 202
23 Flnanclal Instruments
Categorlsatlon of flnan¢lal Instruments
2024
2023
Flnancial assets measured at falr value through proft or loss
24 Related party transactions
Key managemenf personnel in 2024 conslsted of 3 rnembers of staff (2023.. 3). The remuneratbon of key
management personnel was £ 133,387 {2023- £128.807), being aggregate compensation for their servlces.
Transactions totalling £67 (2023: £nil) relating to casual employment of a close family member of one of the
key management personnel took place during the year. There were Enll amounts outstanding as at 31
December 2024 {2023- £nil). rhe individual'5 details have been omitted for the protettlon of the persons
concerned in accordance with paragraph 1.29 of the SORP.
The aggregate amount of donations received without conditions from the trustee5 was £100 {2023,. £nil).
The charlty is controlled by the trustees who are all director5 of the company.
Page 32