Charity Re915tratiorb No. 1201143 Compatty reg15tratlon number1447213S IEngland arLd Wales) THE FOSTER CARE CHARITY ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
THE FOSTER CARE CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Tru$tee5 Mr B J N O'connell Ms P M Chlnnedl Mr S Egerton M5 D Jackman hAr K J Monk MrJ Tud5e IAppoinled 9 November 20221 14)poinled 9 November 20221 (Appointed 1 Oclob2r 20221 (Appointed 1 Oclobpr 20221 IAppDinle($ 9 N¢wetnber 20221 14opolnled 9 Nowember2Q221 SE¢refary MrKJMon Charfty number 1201143 Company number 14472135 Princlpal office Penny Hall The Hay5figld Sprfng Lane Noth M81vÈm Worcesler5hire WR14 1GF Auditor Ormerod Rutter LimKed Chartered Accountants ThE Oakley Kiddemiinster Road Droilwrch Worcesleishtre WR9 9AY
THE FOSTER CARE CHARITY CONTENTS Pago Trusl8es' report Independenl audilorfs report 8-10 CDnsoUdal8d statement of finala1 a¢lwthes Con501tdaled bala8 sheel 12 CDmpany balance sheet Con5015daled statement of ¢ash flows 14 Notes to Ihe flnancial staiements 15-27
THE FOSTER CARE CHARITY TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2024 The Tru5tee5 present their annual repotl and financial sialemenls for the perlod eftded 31 Mafch 2024. The fwancial s121ernenls have been prepared In aCWrdare wth the Bccounling pollcies set out in note 1 to the financi21 statements and compty with the charity's governing documenl, the Cotnpani85 Act 2006 an 'Accounling an(J Reporting by Charilips.. Slalpffjenl ol Recommended Pracuce applicable to chwiie5 preparing Iheiraccounts in accordance wilh Ihe Financial Reporting Standard 8ppll¢able in the UK 8nd Republic of lieland IFRS 1021" leHeclive 1 January 20191. Incorporation The ¢haritable company was hE(Kp¢taied on 9 November 2022 and cotnmenced Iradiw on 1 October 2023. Vlsion To make a potle impact on children's Ihes and enaLle them lo acknve their full Potential, hawe 8 $en5e of belonging, and grow a5 indivlduals. ObJectlv95 To promote Ihe rare 3nd welfare Df vulnerabk children and young adulls through the provision of f051er care placements and olher relev8nl childcao 5ervic8s and ytrjng people's seNices,' 2nd To relieve the neads and preserv? and proiecl the wekTe Df Ghildren and youn9 adulls in foster Care. those who have left Ihe care syst&n and Iheir caTers through the provisn)n of advice, support and addilicnal setvice5. Public benefit The Irts51ees have pald due regard toguidatre issued by the CharitycCrnIsSIOn in deciding wh81 a116 Ih8 charity should undertake.
THE FOSTER CARE CHARITY TRUSTEES. REPORT ICONTINUEDI FOR fHE PERIOD ENDED 31 MARCH 2024 Servlce and Activltles FCC receives ieferrals of chddren and young people requiiing a foster plac?rnenl from Local Aulhorili88 Ihroughout England. Referrals are dealt wmh by our PIHcement Co-oidinalor who Idenlifies potpnlial m81ches and then liaises with our slall and carer5 and the Local Authority lo prDgress the relerral. This agency h35 a robust Matching procedure which ensure5 Ihat every child referrÈd 15 malched lo the Gar8r who can b?51 m8el their needs. Every fostering household ha5 p[ided a family profile, which includes pholo$ and infolmabon aboul Ihernsefves and a message lo Ihe child or yowg pwson requiring a plaGem¢ni. FCC offers a tange of placement typÈs, as follows.. Short term- FCC wowdes 5hort-lerm aCementS. For ex8mplÈ, children and yovng people mayrequire a short-lerm placement lo aid a return horne or to 8SS151 Ihem in rrK)ving lo an aLSoplive or a perfflanenl placement. A child rnay be rlaced in an emergency, pending decisions being made about Iheir ture. Foster carers will be woikin9 wilh placing Aulhorily on objectives wilhin the child's Care Plan arwj ensuring Ihat the child or young person reaches their indiwdual polenlial, however long the placement Long Term - FCC offers perrnanenl family placements for children and young people for whom ihe decision thai Ihey require a p8rmanenl placement has been made. The aim 15 to provide a home inlo adullhood. We are an agency Ihat wll prornote Special Guardianship and adoption for chIren placed with our foster carers, where Ihls is in the child's besi inleiesls and with agroemenl of all partvds. Where appropriale, Ihis agency suOrtS, principle. carers who wish lo continue to offer8 pb¢E fora young person after Iheli 18th birth¢Jay. Vve believe Ihat offerirvJ a young person a Slaying Pul arrangement, there FCQ iernains involved and SUPFQrting Ihe former foslercarer, is m051 PD5ibve way of providing t$. staying Put- Slaying Pul a governrnenlal inilkqlive lo support young people, on reaching Ihe age 01 18. to 51ay with their formpr f05tsr carers. WhlLsi not a losterh)g plactmenl. FCC ha5 a scheme which allows for the foller caiel lo be supported whiLst the Sta1ng Put agement 15 place. This scheme benefits both the young person and Ihe carer. Sibling Groups- The agency does assess and approv& foster car8rs who have Ihe emoi(onal strength and physical space lo care for a slbllng gmup. We recognise the addi110nal support Ihat looking after a sibling group requires so thal each individual child achieves Iheir maximum potential. Parenl and Child Placements Thi5 Agency provides a P3fEnl and Child plarernent Service. F0518r carers are required lo have training in this type DI prova5iDn 85 well as Bvidenong Ihew abilltyto lake on Ihis Complex Ik. We have carers who wothwith the placin9 Aulhorily on 8 parenting 88sessment and prowde evidence forlhe court report. Short Terrn Pk8cements Un¢Jer Regulation 42 Under Regulation 42 01 Ihe Fostering Servire5 Regulath"ons 2011. thi$ agency ha5 offered io Local Authorities, fosler carers who tzn work alg58 parent ur lamily memb8r caring lor a non4kabFed child and who Yill offer Short breaks te enable the child to Co[nUe lo1fv8 athorne. Relevanttrainng and suppori will be offered lo carers inierested in this area ofwoth. Example5 of actlI1eS and events Ihal we hava regularty run in pa are p(Elry ors10ry writing cornpets.lbns Yor ¢hildren, artworkshops fer children land subsoquent art Exhibitn51. 5urnmer evenL8 for carers and thildren (such 8% gc4ng to see an ouidoorchil¢Jren'5 play and then a b8rbequel. seasonal Meals forcarers. ntere¥ents lor carer5 and childrEn such a5 IC8 skaling. elc. FCC hdd a qwdrterfy Childr*n$ Fowm and CareF5 FONM. 15 on opportunity lo meet wlh the DieGlw of chi Care and other Senffjr LeadeE5hip Members. provrdlng feedback, c¢nsultation and ways to help devebp Ihe agency. Fcctoftsiderlhis a vilal resource in engagitTrg with the children and carer5 we suppor( giving Ihem a voice within Ihe agency.
THE FOSTER CARE CHARITY TRUSTEES. REPORT ICONTINUEDI FOR fHE PERIOD ENDED 31 MARCH 2024 Financial Review Ouiing the p8riod. loial tiicoming resource5 8$ show In the con501idaled Slalemenl of Financial Aclivilies stand al £7.303,034 lofwhlch £3.460,443 were danolion5 from The Fosler Care Co-operabve Limilgdl. The nel a5sels held a5 al 31 Marrh 2024 were £4.625,166 of which £0 are curreniiy held in restricted funds. ResÈNespolicy As at 31 March the minirn level oflree reserve5 to safegu2rd the Charty'5 gOIng vlabllity sndS al £1.8m against the aGlual free reseFve5 level Df £2.25rn. ThÈ ralculalion is reviewed regular and di5CU55ed at Board metlings. In Ihe event of any signfic8nl shorifa deiaded plans wlll be pul in place to ensure Ihe r8S8rves 81e rpplenished. The aim of ihe reseNes pollcy Ls10 maximise progres$ lowards meeling aw objeclNes whllst balanCg the need for conlintslty and wn5islencyof Ihe work undertaken by the F051er Care Charty. The trustees are of the view thèt Ihe ¢haritsble company is going Corern. Plans for fLSture periDds Strategic Aims 2023_2025 fthanclal yè•r'. Four slraregic priorities were agreed lo deliver 8usines&'5 Charilable Obj8Ctives for the 2023-2025 fmancial ye¥. Launch Ihe Charity and the brand The Foster ca Charityw8s launthed on 151 Ocl¢ber 2023 Drive forward the qualtyof0work and aspre te do better in allwe do A'Qualily Assurance Framework is in Flace Ihal u5e5 qualtycontrovquality 8$5Utance100151o morilor and Idenirfy mlha audl of curwNk can be tmproved. DNersity our core offer A feasibilty $ludy of diverslficatim and gro%•th op1K5 w85 undErtaken in Febnjary 2024 and 1$ tyJrrerl being considered. Be ambitlous and innovaUv8 irb our Indusmty agenda Equalty and Dlversily training i% mandatory and 15 a sel agenda item at 1 regular ffleetings. E& D spedallst trainers have been appoinled can better engage with deafthard of hearing carers. The office spaces have been fully renovaledto ensure those wllh mobilityand si1 and hearing Ios5 can betteru$elhets¢ile5. Proactwe marketing to recmit Slafflorers and pan81 membets dwerse o)mmunthe5 is ongciry, as is the invOeMert in VarRS local and regpjnal events $uch a5 Pride and LGBT groups. StratEgic rns for 2025-2026- These wlll be expanded UPDn atthe Ch8rty5 strateg Away Day Plned for Ljler in the yearand WJJ upon Ihose li8ted above.
THE FOSTER CARE CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 StrucbJre. governanGe and mènagernent The charity is 8 company Ilmlkd by gvaranlee and L8 governed by its articles of association. The Irusiees. who are alsD the direclor5 for ihe purpose ol coffpany law. and who served during the penod and up lo the date of Snature oflhe fin8n¢ial statements were-. Mr B J N O'connoll M5 P M Chinneck Mr S EgÈrton Ms D Jackman MrKJMonk Mr J Tud9e Ms E Hullon (Appointed 9 November 20221 IAppoinled 9 November 20221 IAppoinled 1 Ociobpr 20221 (Appointed l OGiober 20221 (Appoinled 9 November 20221 (Appoinled 9 November 20221 IAppolnled 9 November 2022 and r85igned 13 Seplernber 20231 The Board currently compri%5 Ihe following Ttustee5'. Brian O'connell. Chaiman oflhe BDard Brian is a consvltyng SorAt¢r foi a large 5dicilor's firm bè5e(S in Vvorceslershire. He has alsa Sal a5 a Daputy DislAcl Judge forover 20 year5. He was 8lsu & founder rnemberofihe Worcesler Duty Soli¢iior Schemt. Jerry Tudge- Tntstee and Mce Chair Jerry is a Qu1r1ed Buildlng Surveyor and frx-fosler ¢arer (with 14 Yea of experien of fosleringl with wo experience in ihe PriV21e, NHS Local Govvnmenl s8ctots. J8rry ha5 previously been a membpr and Chair Df both the WeL4h and English Fostering P8nels. ANhough now rellre¢. Jerry was previously the Principal Bulding Suryeyor forWorces12rshlr8 County Council. Ken Monk- Tru51ee and C4)mpany Secrelary Most of Ken's bng worklng life has been sp8nl in education. te8th Eng55h up to Advanced Lovel. In thi5 tounty and the U.SA Ken has 8150 been invdved in our Engllsh Foslering Pand frjr some year5. Palricia Chinneck- Truslee Pai come5 from an adminislrèlion backgr¢)und speTri¢¥erts9Trtyygars w0j In social cwe for8 ChihJr8n V411h Th5abifi1S Team, whith ha5 9Sven her a good (nsiyht In respecl lo child dÈ¥Èiopmenl and Ihe suppori Iney eed. DorTh Jackman- Tntsieo Donna has over 35 years of experienBe as a stralegit and operatn31 lèader In the fipld of Chiklren and Fami Semces. Donna spent Tnanyyears wtrkiny willi union5, 3rd sectsf cofflfflunily organisalh)ns. NsPcfJAccK for ChitOrenlAdoption Agenoes, and fflore rgcendy 5UPpO1t young leenage mothers within a molhw and b support uniL Simon E9erton-TNslee Simon wrted lor many year8 as a Oirecth for Clarke Roxburgh Ilnsurancel anrf became a Fdlow of the Chartered Insurance InstilulE and Chartered Insurance Bioker. Sirnon was appoinlpd a Magistrate in 2005 and continues kn sit predumin31ely in Farnily Court and SENed as ChaiFtnan DI the berKh Ifom 201&2022. Simon previeu51y a Tnemberof Malvern Pli115 Rwnd TabJ& 1983-2000. Memb8rof Plalvetn knigh1¥ Club (Ex Round Table). and Memberof Caall Rotary Club.
THE FOSTER CARE CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 Senior LEad8rshlp Mana9em8llt structure The Head Orr1 ef FCC based In Malvern, WurEe51ershire and el(ecliv8ly ha5 over5iyhl fDr all the corngany aclivtses,. our 8usines5 Support. Finance and Human Resources sialfare based in Malvern4nd ourSeniorLeader5hip Team rneolhgs an¢J quartortyquality as5ur8nce meetings ar2 a150 held al thi5 office. Our Senior Lead2rship Team compri5e5 01.._ Sumerjil Ram- CEO Steve Fld. Direcior or Child Caie Barbara Bull- DCEO and Heaa ofHum8n Resources Sam8nlha Willi3rns- Head of 8usine5s Support SeMce5 and IT Sfatèment of Trustee5' responsibilitie5 The Iruslees. whoare alsolhedireclors of The FoslerCBre Charity lor the purpose olcofflpany law, are re5PDll5ible for preparing the Truslees, Repori and finallcial sialemen15 in a¢cordan¢e wllh appllcable law and Unlled Kingdom Accounting St8ndards Ivniled Kingdom Generally Aecepted Accounlifig Practicel Company Law requires the trustees 10 prepa financial sialemenls for each finartial year which 9ve a vue and fair vlew of Ihe 51ale ol affair$ ol the charity and ol Ihe resources and applScalK)n of resources, irtcludirvj Ihe income arid expendilure, ol Ihe ch8rilable company for Ihal perfod. In prep8rin9 these financlal $klemen15, Ihe Iruslee5 are r8quired to: select suitatle accounting pl¢le$ and Ihen aprAy them consis18nlly, - observe th& rnethods and principle5 in the Charities SORP; - make judgement5 and esumales that are reasonable an¢J prudent., stalè whether appllcable UK A£counling Slan¢Jards have been fouowed. subject lo any malerial dpparturqs disclosed and explained in the ffnancial slatements., and - prepare the financial slalemenls on the golng concem basis unle55 i¢15 Inappropriate to presume Ihat the ch8nly will cenlinue in operalion. The Irustees are responsible for keeping adeguak aEcountirvJ records that disclose with reasonable a¢curaw al any b.me Ihe financial poOn of the charrty and enable them 10 ensu Ihal Ihe financial statements comply wtih the Companie5 Act 2006. They are 81so responstbje for safeguarding Ihe assé19 ollhe charily and hence for laking reasonable steps for Ihe prevenuthi and deleclion af Ira1 and other Irregularftie5. Audllor In accotdance the eomp8nW5 arbdes. 8 re501Jlion kYOP05ing Ihat bE re8ppoinled as auditor of the cornpany will be put at a GenE Meeting. The Trustees. report wa approved by the ofT es and signed on I1r beh31f by.. Mr B J N O'connell Oale". g?Iky-
THE FOSTER CARE CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE FOSTER CARE CHARITY Oplnlon We have audited the financial statements of The Fosier Care Charity Ilhe'parenl chari18ble company'l 2nd ils subsidiary Ilhe 'sroup'l for the pericKI ended 31 March 2024 whiGh cgfflpri58 the Consolidated Statement of nancial Aclivilie5. the Consolidated Balance Sheet. the Consolidaled Slalement of Cash Flow5 and reL71ed notes to the financial stalemenls. including significani accounting policies. Thp financial reporfing framework Ihai hzs been applied in Iheir prepaiation 15 applicable lawand United KingdornAccounling Slandards, in¢luding Financial Reporting Standard 102 The Fin2ncial Reporting Sland2rd applicable in the UK and Republic of Iland Iuniled Kingdom Generally Arcepled Accounllng Pra¢tirel. In our oplnion. th& financk41 slalemenls-. give a true and fair dw of the 51ale of th8 group and IhE parent tharilable comp8ny'¥ affairs as al 31 March 2024 and of Its SnGomlTFg resources and appts'Galion of resources, fur Ihe perd ihen ended,. have been propedy prepared in accordance United KiNJdom Generally Acrepted Accwnling PraGlice.' ano have been prepared in accoidance WI the rwuments of the Cempanies Act 2CQ6 and the Ch8riUes AG12011. B2515 for oplnion We Conducted our audlt in acccrdanee with Inlemalb?n81 sndards on Audiiing IUKI IISAS (UKII and apF1iCae law. Our SpOnsibl11118s under those standards 8re fw1herde5cri in the Auditor's responsiknlilie5 fcr the audit ol the financial statements sedion ofour report. We a independent of the group and the tharity in aCCdanCe Ihe ethical requiremenls that are relevant ID aur audit of Ihe fin8ncKg1 Statements in ihe UK. incluoing the FRC'5 Elhral Standard. and we have fuhllled eurolherelhi¢al ie5pons1bilrts In accdanCe wlh knese requiremèn15. We bdieve Ihal th8 a11 evidence we have obtained is sufficnt arwj approwaie lo prowde a b8sls forouroplnlon. Concltssions relatlng to golng concern In audng the financial skteTnenis, we have conduded tha¢ Ihe Tru5tees' use of Ihp going ba8 of accounting h the preparaifon of Lhe finanual statennts ts appropriate. Based cn the wotk we h4ve performed. we have not identified any ma18ri21 uncértaintie5 relabng io events or ditions Ihal, Indrvidualy or cdI8¥y, may r2stsignifi12nt doubt on the tharity'5 aLH'lity to conb'nue as a gohg concern for a period of 81 leasl twelve ffK)nlh$ fffjm Wdhen the fmanrial stalemenLs are aJlhorised fori%sue. Our responsibilities the nsIbIlitieS ol Ihe trustees Mlh respect to golng concwn are tlescribBd In th8 revant sethons of this ieport. Othgr InformatÉon The other inft)rmalion comprises Ihe irtsrnalion inctuded in ihE aiwual r8POrt ether Ihan Ihe finanGial stsleThnts anc5 otsr auditorfs report Ihtteon. The Irusiees are re5ponsibte the other inlormalion contained Wnhin Ihe annual report. Our opinion on the finaclaI slalernents does not cover the other inforrnation and we do nol presS 8ny fom of assurance conduslon thereon. Our rponsibl11fy 15 to read Ihe 0lherinfoTrn3lion and, in dn9 so, consKSer whelher the olhÈr inforrnation u8 mateal Incon5151enl wilh Ihe financid stalerrents or our knowledge obtained in the CDuf5eof the audit. tr01hervSe appp3rs lo be materially misstatpd. Ifweidenlify such matefval 1ncvnsi51encS LYopparenl malerlal rnlsslaieTnen15, we are required eo delerm¥ie ¥*hetherlhis ve$ riseloa rnalerial mi5slalement in the fin4naal slatuynenls themselves. If. based on tre work we have perforrned. we condud8 that Ihere lerial mKsStatement of this olherinfomialltJn. we are required to rewAt that fact. We have nothg to report in th15 regard.
THE FOSTER CARE CHARITY INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE TRUSTEES OF THE FOSTER CARE CHARITY Matters on wthich we are requlred to rèportby excepttun We have nothing lo report in rpspeci of the following awllers in relabon ID which the Charili¢s (Accounls and Reports) Regul?lions 2008 require us lo report lo you if. in 0uroplnn'. the infcrmalion gwen in Ihe financial slalements is incon51slenl ifi any rnaterial respeciwith Iru51ee5' report., or sufficieni accounting recoros have nDt been kÈpl.- ur the parent thahiable Gornpany's financial staletnents are not in ogreemenl with aGrounling records., or we have not received all the Informaln and 8xplanaVDns we requi for ouraudil. Re5pon51bllltie5 of tnJstÈe5 As explained more fulty in the slalemenl of Trustees, re5ponsibililres, Ihe tru51ees, who are a150 the dIreor5 of the charity for Ihe purpose of company bw. are responsible forthe preparabon oflht fnanoal 51alements andfor being satisfied that ihey give a true and far view. and for such intern81 control 05 the Ifuslees d2lermine is necessary lo enablÈ the wepardtion offinanrA81 ststemenls that are free from tn31erial mi551alemeni. whether due trj traud or error. In weparing the financial stslemenls. the Iruslees 8re reswnsible lor assessing the chanvs ablty lo contlnue as 8 going concern, di%dosifjg. as applicable, mauers ielaled to go(ThJ con¢em and using Ihe going concern basis ofaccounling unless Ihetruslee5 eilherin18nd lo INuidalethe charitablE company orl¢itea5e operations. or have no reali51K allernaiive bulto do so. Audltoes responsibrlities for the audit of the fmancial stalements We have been appointed 8s av(lilor under section 144 of the Ch8riUes Act 2011 aTrJ repctt In arGordance vAlh Ihe Act and relev4nl regulations made orhaving etrecl thereunder. Our otlectNes are to obtain re8son8tAe a55urance abDuI whether the financial sl8lemÈnls a5 a whole are freE frorn rnaierial mis51alemÈnt.whelher dup ID fraud orerror, alldto Issue an au110$ r8POftlhai includes ouropinion. Reasonable assurance 15 a high level of assurance but is not 8 guaontee ihat an 8udil conduGled in accurdance wilh ISAS IVKI wll always delect a material missialemenl when il Bxists. Mi%slaleTnents can arise from fraud or errorand areconsideredrnalerialif. indiwduallyorinlhe aggresale. IheycoddreasonaY be8ApeGtsd lo inlluee the econoTni¢ d8cislc)ns of users taken rn Ihe ba515 of ihese financial slalements. The exlenl to which ow proOUrES are cap)k of delecung ilregukrit", includiro fraud, Is detailed bel¥. Based on our understanding of company. we identified the principal risks of non-cornplianc£ with laws and ragulalions Induding Ih05e Ihal ha¥2 a direcl impacl on Ihe preparation of the financlal Slalemenls such as the Companle5 Act 2006. and Ihe extent lo which non-complianre might have a material effect on the financial 51aiemen15. Audit procedures performed included discusslon5 with man89emenl. review of board meeting minutes. testing of journals. designing and perfoming audit pTocedure5 and challenging a55umplion$ and judgements made by management In telation to accounbng estimates. There are inherent limilations in the audit proce¢ure5 descrfbÈd above. We ale 55 likely io bpcome aware of In5tsnces of non-compli8nep with laws and regulations Ihal a not closely relaled to ev&nt5 and Iran5aclK)ll5 renecled in Ihg finandal Stslemenls. A50, the risk of nDtdetecling a material misstaiementduelo fraud is higher than the risk of not detecting one resulting from etror. zs fraud m3y involve deliberate wncealmenl by, for exatnpfe. forgery or intentional ffu5represenlatton5. orthrough GolJsion. A further description ofour raspvnsibililies is available on thE Financial Reporting Council's website at.. htWs.'Ilwww.frc.org.ukJauditorsre5ponsibilitYds. Th description fo5 part of auraudilorfs reporL
THE FOSTER CARE CHARITY INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE TRUSTEES OF THE FOSTER CARE CHARITY Use of our repDrt Thi5 report is Tnade lo the charivs Iw51e85. 88 a body. in accoTdance with part4 oflhe Charities (Accounts and Reports) Regulations 2008. Ouraudilwoth has been undertaken SD thalwe might Sle to the chan1$ trusiees those mttter5 we are required to slate lo them in an aLklil0rf5 report and for no other Pufpose. To the fulle51 exlenl permitted by law, we do not accept or 355urne responsibility lo anyone olher Ih2n the ¢harity and the ch8rity's trustee5 as a dy. for our ([11 WLYk, lor Ih18 repDrL the opinw)n$ we have foimed. Colm MeGrory FCA (Senior Statutory Auditor) for and on behalf of Ormerod Rtslter Limited ../s../.J.L'.¥.f Chartered Accountants Statutory Avdltor Ormerod Ruller Limited Chart8red Accounlan The Oakloy KR1dermiter Road Drai Worcestershire 10
THE FOSTER CARE CHARITY CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE PERIOD EAIDED 31 MARCH 2024 Not85 Unr•5frt¢ted tund$ 2024 Inc me and endowmonts from: Donations and grants Charitable actiwties Investments Other Income Transfer of nel assèts frDrn subsidiary 3,460,443 2,716,761 29,421 450 1.5,959 23 Total In¢ome 7,303.034 endlture on.. Raising fund5 charitab acliviti8S 3,865 2,720.957 Total *xp6ndlture 2,724.822 Nel gainslllo55esl on investments 13 46.954 Nel incomè and movemevtin funds 4,625.166 Roeonciliotron of fund5'. Fund balances al g November2022 Fund balan¢es at 31 March 2024 4.625.166 The Con501KlaleLI SlalementafFinanckl Adivities nd8$ all galns and losses recogni5Ed in the perlod. Nl income and expendilure derive frotn continuing a¢bv58S. The Slalernent ofFinanoal Adnritie5 also coftWie5 1th ffte requiremenrs foran irKome arKI expenilith a¢counl uTrJer the Corrpanres Act 2006.
THE FOSTER CARE CHARITY CONSOLIDATED BAL4NCE SHEET ASA T31 MARCH 2024 2024 Notes Flxed Assets Tangible 855BIs Inveslrnen15 15 16 600.101 1.241.026 1.841.127 Current assèts Debtors Cash al bank and in hand 17 910,491 2.010.239 2,920,730 Creditors.. amounts falllng due wlthln one year 18 1136.6911 Nel current assels 2.784.039 Total as$gts less current Ilabilltles 4 625,166 Total net assets 4 625.166 Charity lunds Unrestricted funds 4.625,166 Total funds 4,625,166 Thfy cornpany is enlllled tolhe exemption frorn Ihe audil requirement coniained 5ecllon 477 of the Companie5 Act 2006, for the period ended 31 Marth 2024, although an audit ha5 been Garried out under $e¢iiffi 144 ofthe Charities Acl 2011_ The trustees aCknedge Ihelr respon5bililies foreomptying with the r8qulremenls ofthe Companles Ac12006 Wdh respect to accounting records and the preparalion of financlal staiÈrneni$. The Iruslees have not requ5red Ihe Cotnpanylc obtain an auditor rt5 financKI statements underlhe requirernenl$ of the Companies Act 2Q06. forthe period in westn in accordance v4ith section 476. These financial slalements have been pFeparBd in accordance subje¢t lo the srnall comparMe$ {Me. 'Ih tho provisions aFpllcable lo compan8 Thp financyal slalements were approved the Truste .and signed on thr behaN by. Mr B J N O'connell Truslee CompaThy regi%rration numb¢r 14472135 IEng18nd and Wales) 12
THE FOSTER CARE CHARITY COMPANY BALANCE SHEET AS AT31 IAARCH 2024 2024 Nott$ Fixed Ass¢ts Tan9lble assets Investhgnis 36295 1241.026 16 1,277,321 Currant assets 02biors C85h 3t bank and in hand 17 910,491 1472 868 2.383.359 CredStor%- arnounls IlIn du• wmhln one y•ar 1131.4731 Nel curyent assets 2.251.8B6 Totsl assets lss current 1Sabllitl¢s 3 529.207 Net asset$ excludlng n$1¢•N IlabFIIty 3,529.207 Th• fvnfls ol the charity nStriCted lun¢Ys 3 529.207 Tolal fund5 3529.207 The company is enliued lo Ihe exemplion from the atJdil requirement ¢onta ned in seclion 477 01 Ihe Companies Act 2006. lor th2 period ended 21 March 2024. although an audit has been caiiied oul under s¢Gbon 344 of the Chariires Acl 2011. The trusiees ad(ncthledge'theii respo¢bIli11eS for Comp.ng with the requiremenls ofthe Companles Act 2006 th respect lo accountin9 re¢wds and the preparation olfinanc¥al staièmenl5. The trustees have nol required Ihe companyto oblaln an audit oits finan¢K41 slalement5 underlhe requkemenls of Ihe Comparues Act 2C¢6. ts Ihe perrod in qu•sbon in accordanco s8Cton 476. These finan¢ial 51alements have been prepared in a¢rdance subject to Iho srnall comparries regirr. Ihe wovlsions appllcabfe io rnThyanie8 The fin8nc¢al $t8temenls approved the Twste ..8nd 51gned or) Iheir beh311 by. Mr B J N O'connell Trustee Company regrstratiw numbtr 14472135 IEnnd and W•h51 13
THE FOSTER CARE CHARITY CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2024 Notes 2024 Cash flows from operaling actrvities C85h generated fromllab50rbed by) operations 2.691,154 Investing actl¥rt5 Purchase of tangible fixed assels Purchase of inve5tmenis iangible fixpd asset5 Investment income re1Ve 19,8451 1643,8061 46.954 Net cash used in investlng a¢tivtfSes 1680,9151 Net Gash used in ftnancln9 activities Net increase in cash and eash equivaleThts 2,010,239 Cash and Cash equi¥alenlS ai beginning of penod ash and cash equivalents at ond of perlod 2 010.239 14
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR fHE PERIOD ENDED 31 MARCH 2024 Accounttng policles Charity Infcrrnation The Foster Care Ch8rity a ptlvaie comp8ny linited by guaianlee incorporated in Engtsnd and Wales. registered offe 15 Penny Hall. The Haysfj81d, Swng Lane North. Malvern, worces[shirP. WR14 1GF. 1.1 Accounting ¢onventlon Thp financial statements have been wepared in accordance wilh the charivs guverning dLKurnenl, the C¢mpani85 Aci 2006, FRS 102 YhÈ Fin3ncial Ren9 Standard applic8ble In IhÈ UK and Republic or Ind. I'FRS 102.1 and Ihe Charities SORP 'AccouniMig and Reporting by Ch4rilie5-. Stslemenl of Recornmended Prattte Hpplic?b18 lo chanties preparing their accoullls in acc¢Kdanco 1h the FinanGrdl Reporting Standard appI8ble in Ihe UK and Republi¢ of lidand IFRS 1021" leffedbve 1 January 20191 The harily is a Pubi Benefil Entily as (kfined by FRS 10 The financial stalemenls cDn5013lp Ihe resuks ol the ¢harity and ils wholty owned Subsidiary. The F051er Care Property Cornpany Lmnlled. on a line by Ine basis. TTan5aclions and ba18nces bpiween the charity and lis subsidiary have bepn Eliminated from the corffjolhlated finan¢MIl 51aternenl5. The finCial st8temenlS are prepaied in slerfing, wh Is Ihe ftjnthal CUFrerKy of thè chartiy. Monelary amounts in these financrdl 51alerrEnts are ioun(led lo the nearest £.The fin4ncial slaiements are prepared In sterling. which is the functional currency of the charity. Monelary amounts h th¢50 finanual siaiemenls 8Te rounded lo the nearest £. The financKal slalernents have been wepared und8r the hISriCal ¢05t xffivenlion, moJified 10 inchJd8 certatn financlal Instruments al fair value. The principal ac¢ounllng poIKies adopted are $et uvl below. 1.2 Golng ¢oncerTh At Ihe lime ofappmwng the financL91 $laleThents, Ihe trStee5 have a reaSOnae expetlabon Ihatlhe group ha$ a(kquale resources lo confrnue in oper4lional existence for the foreseeable future. Thus, the Irusl continue to adopt Ihe going concern basis of accounting in preparing the financial stalemenL8. 1.3 Charitable funds Unreslricled funds are available for use at the distretK)n of the trustetrs in lurtherance cf Iheir charilable objecbves. Restrict fuTrJs are subi8Ct lo specific ndItlnS by donor5 or 9ranlor5 as to how IW L* used. The purpose5 8nd e$ oflhe restricted frjnds are set out in notes lo the fwanria stalements. 1A In¢ome In¢om818 reeognlsed when the charity 15 legaly ents"Iled lo il after any perf0rrnan condthons have been mel. the amounts can be measured relabty. aThl it is probabk that income will be recenied. Cash donations arerecogni8ed onreCpt. Otherok)nalons are recognlsed oncethe ChatyhaS been nour0. of the donation. unless perftymarKe condittons requwe deferral of the atnount IrKoffle lax reeoveralAe in relation lo donations received under Grfld or deed5 of covenant is recoonised at the lime of the donation. Legacies a Tecognisad on reIpt or ethemse rf the tharity has been nolified of an impendiNJ distribution. the amount is known. and receipt is èxpected. If th&amount 6 nDlknown. Ihelegatyls treated as a contingent ass¢L 15
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 1.5 Expendlture ExpdItUre is recognised once Ihere 15 2 le9 or constructive obllgalSon lo transfer econom1¢ benefrt lo a third pariy, il Is probable Ihal a transfer ol economic benefits will be requed In $ellletnenL and the arnounl of the obligaiion can be measured rellabjy. Expenditur8 is clasgfied by aclivily. The costs of each aGlivily are made up of the 10181 of 1Cte0$t$ and sharEd c051s. incdIng sVPPQrt costs involved in undertaking each aclivity. Direct costs atlribulable lo a single activity are allocaled (fireclly lo Ihalaclivily. Shared c05ts which conlribute lo more Ihan one8clivily and support costs which are not ambulable lo a single aclfvily are apportioned beeen Ih05e acfivibes on a basis consislenl wilh the use of resources. Centr81 $18ft cosls are allocated cn ihe b8st5 of lime spent, and depreciation charges 8rÈ allocaled on the porfion of the assei'g use. Costs of raising funds are ihosÈ costs incurred in generalng voluntary inGome. and those costs irKuired in trading acllvllie5 Ihal r315e funds. Expenditure on charitable aclivilie5 includes costs Incurred on opeolions in line with charitable alms and objectives and their associalEd 5UPPQrt afid governanc8 costs. Support costs a Ih05e costs incurred dire2Uy in 5UPPert of expendiiure on IhE objects of the company arvj indude projeGt management. Govemance cosls are Ihose costs associaled wilh me81ing the ctsn51itsdional and Statutory requirem8nts and include any cos15 associated th the 51ralegr management of tharity. 1.6 Tanglble fixed 4559ts Tangible fixed 88sels are IniThalty rneasured al cost and 5ub5equenlly'me85ured al cost or valuation. net ofdepreoalion and any Impairment105se& Deprech81ion is recogni5ed so as le wriie off Ihp co51 or valua140n ol assels less Iheir S1Ul values over Iheir useful lives on Ihe fDHowing bas8S-. FTeehDld property Fixtures and frtlings CoNiputer equipmenl 20% on wsl or25% reducing balatice 33'A straght ne The gain CK loss arising on the disposal of an assel Is determined as the difference betsveen the sak proceeds and the carrying value of the 355el and is recognised in Ihe Slaternent of financial acliwlies. 1.7 Flxed asset lThvestments Fixed asset InveslTnen15 are initially measure(l at trdnsadion pryce excluding transaction costs and are subsequently measured al fair value al each rEPOrting date. Ch3nge5 in fair value are reccgThsed in net incornell8xp8ndireI for the year. Transaction costs are expgns8d as incurred. 1.8 Impairment of fixed assÈt$ At each reporn9 end dale. the Gharity reviews the carrying amouats of 115 langible a55els io detettniie ¥vhÈther IheTr is any indication that those a55ets have suffered an Impalment knss. If any such 1ndkatn exists, Ihe recoverable am¢untof the assel is e5tinated in order lod8terrnine IheeKtentoflhE Impairment Icss (if any). 16
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 1.9 Cash and cash equivaleThts Cash aD(J cash equivalen15 include cash in hand, deposi15 he al c811 wllh banks. other short-lem Ilquid ve$tmenls with original maturilie5 ol three months or te55. and bank ovÈrdraft5. 8ank overdrafts are shown within borrowings in current li3bili11g5. 1.10 Finantial inslrum2nts The charity has elecled lo apply the provislons of Sedon 11 'Ba5ic Financial Instrumenis, and Sectlon 12'01her Financial In51rumenls IssuÈs' of FRS 102 le all af it5 financial insliuments. Financial instrwnenls are recogni5ed in Ihe charily'5 baance sheel when tho charfty beu)mes party lo the conlraelual provksions ofih8 in51rurnenl. Fh)ancial a55els and liabifilles are offset. %vilh the nel amaun15 presented in the financial 51alemenls, when there is a legally enforceable right lo set off the recognisetl arnoun15 and Ihere 1$ an inlenlion lo setue on net basis or lo realise the assel and sÈllk Ihe liabllly slmuiianet>U51y. Basic financial assets Bosic financlHI asseis. whlch include debtors and cash and bank balance5. 8re initially measured at transaclN)n price induding Iran$8¢1ion costs and are $ubsequenlty carried at amortiyed c051 using the effeclive interesi rnelhod unless the arraTrJemenl con51itule5 a financin9 Irans3clion, wher? the Irans3ctiDn is measured ai the present value of Ihe future reGeipts discounted ata market rate of interest Fjnancial &5se15 ClSIfied a5 receivable vAthin one year are not amorti5ed. Bèsic finanGialli8bilitsr$ Basle financi81 liabilities, including crÈdtlors and bank loan5 are initially recognised ai transaction pri Un$5 the arrangement wn5titules a finanring transaction, where the debtinslrutnenl 15 rneasured atlhe present value of the lulure payments discounted al a market fate of interest. Finantial IabIlitIeS classified as payable within one year are nol amortised. Debt insirum8nl$ ere wJbsequeniiy Carried al amortised ¢05t. Un9 the effeclNe inlgr85t rale malhod. Trade creditors 8rE OblallOnS lo pay fvrsoods orseNi¢es Ihathave been 8¢guired in 1he0rd8ryctrrSe of op8ration5 from suppliers. Amounts payable are classified as ¢urienl liabilities if payment is due Wilhin one ye8rorles5. If not. they arepreseniedas nun-currenl liabilities. Tradecredilors are recognisedinilial at transaction price and sub$equenlty measured Ht amorlised cost uslng the effeC1e interest fflelhod. Dereeo9nltlon off fin4n¢lal Ilabiljties Flnancial liabilthe$ are derecognised when Ihe conlraclual obligallon$ expire orare dlscharged or cancelled. 1.11 Employee benefits The G051 ofany unu58d holiday lIuernent is recogni5ed in the period in whh the employee's servic are ieceived. Temiinalion benefits Hre recognised immediately as an eXnSe when Ihe charity is demcfistrab comrnitteLS to lerminale the employmenl of an employee orto wovide lerrnlnati benefi15. 1.12 RetlremeTht benefits Payfflen15 lo defined conln"bubon re1lrementbefttSChees are charged as an expense as Iheyfall due. 17
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 1.13 Leases Renlak payable under operatin9 le8ses, including 8ny aSe incEnlive5 reo?i¥ed. ère chargeLI as an expense on a sttaighl basis over the lerm of the relevant lease. 1.14 Invesfment income Inve51meni Incatne15 accounted for on an accrua15 basis. Critical aceountin9 95hmate5 and judgements In the application Df the Gh8rily'5 accounting policies. the Iru5tees are required lo make juOgemenl5. esiimaies and assumptions about Ihp ¢arrying amDunl of a55els and liabilibes that are not readily appyrenl from oiher 50vrces. The e5timate5 and associated assumptions are based on hislorical experience and other facr$ that are considerÈd to be relevant. Actual results may differ trom these estimates. The eslimale$ and underlying as5umplion5 are revsewed on an ongoing basis Revi5iDn5 to atrovntinll esiimaies are recogni$ed In the period h which the estimate is revised where Ihe revision affects only th81 period, or in the period of thÈ reV)n anrt fvlure periods where the revision affect5 both current and fijture periods. 18
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 3 Donatlons and grant5 Unrestrlcted funds 2024 Donatron$ frorn The Fester Care Co-OpÈralive Limiled 3,460.443 As of 1 October 2023, the trade, asséts and all liabilities of 'The Foster Care Co-Ot*rative Lirritled, Icfjfflpany no. 03e612131 were transferred lo the charity. The Ii)tsl value of the donatiens made lo The Foster Care Charity during this financial year was £3.460,443. 4 Ineome from charitable aeti¥itlèS Unrestricted funds 2024 Foslerc8re placements 2.716.761 5 Incomt from inve5trnpnt3 Unrestrfcted bjnds 2024 Dividend incorne Bank interest reCeVable Porwollo lfive51menl income Ceivable 3.842 B.500 17.079 29.421 6 Other Income Ullr25trfct•d fund$ 2024 Compensation 450 79
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR fHE PERIOD ENDED 31 MARCH 2024 7 Expendltur¢ on raising funds Unrpslricted 2024 Invgslrnenl managernenl fee5 3,865 8 Expenditure charitable ortivitie5 Acfivity 2024 Dlrect cos¢5 Staff costs Other 5taft costs Foslenng costs aThJ all¢)wan¢es Carer payments Management le¥y Panel and reviews Professional expense5 Support group$ Training Subscriptian5 463.589 19,205 1,526,128 4.592 22,042 2.006 3,135 20,974 18.107 2.090.953 Share ol support and govern4nc8 COSts152e noto 91 Suppori Govemance 616.277 13.727 2.720.957 Anatysls by fund UnreslriGIEd funds 2.720.957
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 Support costs allocated te actlvlU85 2024 Slaff Costs Depreciation Support staff c0515 Leased ¢ars Premises C0515 IT costs profesonal fees Insurance Mafkeung Bank charges Mi%cellanecu5 Governance costs 397,846 12,122 11.200 11.346 45.158 28.918 11.847 13.460 48,586 919 36,e75 13.727 630,004 2024 Governance costs cornprlse-. Travel Baard meellng f05ts Audit fees GEneral governance cos15 57 1.622 6.720 5.328 13.721 10 Net movement In funds 2024 The n81 movement In funds is stated artercharyinglleredit(ngl'. Fe8s payable for the audit of the charity's fin8rtciI 51atemenl$ Deprecialion of owned tangible fixed assets 6.720 12.122 11 Trustees None of th2 tru5tee5 lorany persons (xnn8Cted v*lh Ihetnl rgc8ived any remuneratlon dunng the period. 7 trustee5 were relrnbutsed a Iotsi of £1,782 relating 10 board m8tstg ¥xpen5es. 1 wa5 reimbutse¢J £13 for genÈral trav811ing expenses and I wa8 relmbur5ed £848 forpanel & review costs. 21
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 12 Employees The average monlhly number ol employee5 during ihe period was.. 2024 Number Group & rharity 37 Employment costs 2Q24 Wages and saaries Social se¢urity costs Other nsIOn costs 720,157 64,620 861.425 During the period, the tharity made redundancy 8nd lerminalion p3yrnenls arnwnling10£17.683wilh r?5pecl lo 2 individual case5. There were no ¢tnploy9es Kth05e annual remuneration was more than £60,000. Remuneration of key management personnel Key rnanagomenl remuneralion linduding employer pension GD5t51 in the period lotalled t200,437. 13 Gains losses ort investments Unr25tricted Funds 2024 Gain$lllosse51 arising on.. Revaluation ef inwestrnents 46.954 14 Taxatlon The tharily is emempt fiorn taxabe 115 acti¥thes becau58 all its inceme is applied knr ¢haritable rp05e5.
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 15 Tangible fixed assets - Group Fpeehold propèrty CornpUr ryulpment fitt1nys Cosl Additions Transfers in Acquired on awuisilion 9.845 13,553 7,490 9.845 38.572 583.606 25,019 556,316 Ai 31 March 2024 556,316 30,888 2S,019 612.223 Depre¢latlon and impalrmgnt Depreciation charge in the period 2.819 9,303 12.122 At 21 March 2024 2,819 5,303 12,122 Carrying amount Al 31 March 2024 556,316 28,Q69 15,716 600.101 Tangible fixed a$set$- Charity FIKtLW Compu*er Cost Adrjiticns Trnnsfers in 9.848 13,553 9.845 38,572 25.019 At 31.Marth 2024 23.398 25,019 48,417 Depreciatlon and impaimient DepcIatn charge in the period 2,819 9,303 12.122 At 31 March 2024 2.819 9.303 Carying amount Al 31 March 2024 20.579 36,2 -23-
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 16 Fixed a5sef investrnents Li5tod Inve5tment5 Group & Charlty Cost or valuation Addillons Valuation changes Transfers in Income reinvesled net of c051s Reclassification of bank funds Al 31 March 2024 1.000,OOU 46.954 208.076 25.127 1.241,026 arrying arnount Al 31 March 2024 1.241.026 17 Debtor5 Gioup 2024 Charity 2024 Amount5 falllrsg duo wtthin oho year Trade Oeblors Other debtor$ Prepayff*nis and 3cGnJed Incom8 845.289 9,206 55,996 919.491 845.289 9.206 55,996 910.491 18 Credttors Group 2024 Charlty 2D24 Amount5 falllng due wjthin one year. Olh8r taxaiK)n and social security Trade ¢lEdilors Other cretsiiors Accru415 and deferred income Z9,278 15,030 67,772 24,613 27,238 15,030 87,T12 21,433 131,473 136.691 19 R•t5rement beneflt seheme5 Greup 2024 Charlty 2024 Doftned wntr¢bution schemes Charge to profit w1055 in respect of defined conlribution scheme5 The charity operates a defin8d conlributiDn pension $chÈtne lor oll qualrfying ernployees. The 855ets or the Scheme 8re h8ld separately from thcse ofthe Gharrty in an independently administered fund. 24-
THE FOSTER CARE CHARITY NOTES ro THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 20 Unrestricted funds Group The unre51ricled funds ol the group comprise the unexpènded balances ol donation5 and bTanls whi¢h Ère nol subject 10 specific condition5 by donor5 and granliJr5 a5 to how ihey fflay be used. These include any designated fund5 which have been sel a51de oul ol unrestricted fund5 by the tru51ee5 for speGific purposes. At9 November 2022 Incoming resources ResoL¢rce5 expended GaiTrs and losses At 31 March 2024 General funds 7,303,034 12.724,8221 46.954 4,625.166 21 Operatlrlg lease eornmltsngnts Al the reporting end dale, rhe group had outsrarAing commilments for future mlnimum lease payments vnder non-canc8llaU8 operallng leases. which fai due as follows.. 2024 Wilhln one year Beiween rwo and fNe ye8r5 24.028 16.217 40.245 22 Related party transactions There w8r8 m thscbsable related party transacllon$ dtsrin9 khe period.
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 23 Subsidiarie5 A5 of 13 December2023. The Fosler Care Co-operative PrDpertie5 Limited (company number 049462761, company limiled byguar8nlea, t¢came awholly owned subS1£ry of Ihp charity by Vrtu? ofthe controlling Snlpresi by The F051er Care Charity, and its resulls have been Included vnlhin the5E con5Dlidaled financlal stztements. The net assels acquired as of 13 Dec8mber2023 amounted to £1.095.959, fDrwhiGh no consideration was paid. Delai15 Of the charivs 5ub5idiary al 31 Marth 2024 are as fc4low5'. Name of undertaklng Reglsiered offi¢0 Nature of bLrslness The Foster Care Property Company knmi18d Penny Hall The Haysfield Swng Lane North Mafvern Worcestershtre WR14 1GF Property rnanagamenl The agwate capital an¢J reserve5 and Ihe results for the perK)d of ihe subsid1 is a8 l¢llows.- PrafrUILossl for p8ri¢)d Caprtal and RpsEfv05 Namo of undertaklng The F051er Care Property Limit8d 14341 1.095.959 26
THE FOSTER CARE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH 2024 24 Transfer ol trade and 455ets The fair VHlue of assels transferred al 30 Seplomber 2023 from Th8 Foslw Care Cu-OperalivB Limiled were as follows.. FalrValu¢ Property. plant and equipmenl InvEEltnen15 Trade and other receivable5 Cash and cash equiv81ents Trade and other payable5 Total identifiable nel 8sseis 38.571 209.309 701.917 1.269,709 165.9011 2,153,605 25 Cash generatèd from operatlons 2Q24 Surplu5 for the perK)d 4,625,166 Adjustrnen15 tr. Investment inGome r8Gognised in stalemenl olfinancial activiif8S Falr value gains and losses Invesimen15 Depreoaoon anLI imp8irmenl uf langiNe fixed assets Nel 85sels ac9ed on acqulsllloTh Movements in working capital.. Ilncfea5el in d8btors Incr8a5e in credlars 129,4211 146,9541 12.122 11,095.9591 1910,4911 136.691 Cèsh gen8ratsd fromllabsorbed by) op¢r¥tions 2.691,154 26 Analysls of ¢hanges in ngt lund51ldetstl The charlty and greup had no material debt during the year. 27-