Regtstered Chariry Number. 120H19 Company Rws(rntion Number. 06900397 Adoptionplus Annual Rwt and FwTrawal Statements for the Year Ended 31 March 2024 "AD180540' 1811212024 COMPANIES HOUSE *195 Adoptionplus conte.nts Charity Information T￿￿tee$. Report Independent Auditor's Report Statement of Financial knitses Balance Sheet 10 Notes to the Financi￿ Statements Adopt•onplus Charity Information Trustees and Directors Mrs Michelle ￿lIU Ms Brenda Farrell Mr Richard Moore Mr Tim Davies (appointed 27 2024) Company Secretary Nichdas Williams Registered offKe Barnardo'5 House Tanners Lane Barkingside IIFord IG6 IQG Auditors BDO LLP 2 City place Beehive Ring Road Gatsyick Vvest &Jssex RH6 OPA Solicltors Bates Wells 10 Queen Street Place London EC4R IBE Paee I Adoptionplu$ Trustees. Report for the Year Ended 31 March 2024 The trustees wesent thwr report and the firwKr41 statemw)ts fty the year ended 31 March 2024. Principal Activities On 21 Augusr 2023. in order to better serve our benef￿1•ries. emba￿ on granr fundnu and expand our fundraising attivitw Adopticnplus became a registered tharity in Éngland and Wales (charity number 1204419). The Articles of Associat#￿ of Adoprionplus ￿lne its main object as follow To promote the health. 5afery aThJ welfare of thildren and people. In partiojfar lyjt not exclusively those who have suffered trauma (such as abuse or ne8leLt).as well a5 their adoptive and birth famili￿ social workers and those who them. thr￿￿h the provryon of adoption, therapeutK and support services.. To relieve the needs of childrern young people and athjlts who have come into contact with hildren's social care or a&)ption servbces or both. and need suppcrt as a resulL To advance the education of the publi¢ ¢)n matws rela*d to health, weltare. develcpment and care of chibjren and young people. in parvcular nor exdusNely by.. Providing training and support fv profes5icYo1s in l*alth social care or adoption services. and other relevant 5ecrrys and Promoting and Underta￿n8 research for the pubfic ber￿lt in all aspeas of that subject, publishN)g the results and rxganising related e+enr* The Charity's prinopal activiues are the provision of therapy. trnhniru and adoptyon services. It continuing to eX￿d p￿￿01￿0 by expandirtg its di8i(al ther4py assessment for licensing to other agencies in the sector, ￿eating a wider offer to chiklren and framilies in mental heakh and well- being. 2023-24 has continued to be a dullenging year. due to change5 in the se¢ror as a re5ulr of the natic)nal reduction in Pla¢ement Order numbers whth has irryacred all VAAS (Vohjntary Adoption Agencie5). Despite this progress has been made in ￿NerS1￿'ng into socral care sectors and V￿rk in childrens residential care and consukaw. STEP {digital therapy assessment wodutt) has been pil￿d and has been rolled out to other authorities. The agency has been 5￿cessful in reraining Éts Ofsted 'tyJtstandinl rnting fdlowing an inspection in the year. The report concluded the agery provides 'hi2hty effettive services, and 'the actions of the voluntary adoption agency con(ributs to significantty improved OLrtcomes and positive exPer￿ceS for thildr￿. young people and adult Registering as a Charity has enabled us to seek donations and grdnts io enab￿ the therapeuric work to be extended. We have fortuna￿ to receive donations of £34.844 during the latter part ofthe year for which we are hugety grateful. We are lucky to have the support of a number of local and national busine55e5 WIK• have formed the 'HOldW￿ Ho￿. ord< to support the therapeutic work we do. Our improved financial performance this year is the result of continLth ¢)n our costs, and the development of our income streams and donatic￿￿ Page 2 Adoptionplus Trustee5' Report for the Year Ended 31 March 2024 (continued) The Chariry continues to re¥w pordolio crf ser¥ices and Pr￿UctS to cc¥)￿nt￿te on innovatio viability and sustainability and we antiapate this will lead to further ￿ProveMent in financial perfonnance in the next fThKial year and a m¢xe balanced result in the medium term. The Board is confident in 1¢$ furure al￿ looknz ahead to new opporninities to come from the review. Rèsults The charity made a deficit of £63.161 during the year (2023: def￿1t of £330.905). The signrficant improvement year on year is the re5ulr of addits¢)nal ￿CoMe. mainty from our core therapy services and related 5ervLce& and eXtensK￿ of our thernpy con5ultaro seThices. The grdnting of tharitable ststus has also provided opportunities for donatKms from generous SUPF*)rrer& keen to assist the charity in continuing its valued work This support 15 crucial and ts expetted to ¢onlin￿ in future years. Trustees The Tru5tee5 who hekl offKe during the yp¥ were a5 folk> Mrs Michelle Lee-lzu Ms Brenda Farrell Mr Richard Mcmxe Mr Tim Da￿e5 {app)inted 27 2024) Trustees, responslblllties The Trustees of Adoptionplus the purpose of Company Law. are responsible f¢x preparing the Trustees. Report and the financial ststaxents w) accthance with applicable law and regulations. Company law require5 the Trustees to prepare ffinarKo1 $tstements for each ffftancial year. Under that law the Trustees have electsd to prepare the fiiwicial statements in accordance with United Kingdom Ger*rnlty Accepted AccwntinE Practice (United ￿ngdoM Accounting Stsndards and apploble law). Under company law the rntstees must rlot approve th* Ilnanckl statements tlw are satisfied that they a true and fw wew of the stste of affwrs of the tharitable company and of the income and expenditure of the charbtsble company for that period. In preparing these financial $taternen￿ the t￿￿teeS are required to: select sults1￿e aCc￿nE1n£ policbes and then appty them consistently,. make judgements and acc￿nting estimates that are reasonable and prudeni state whether applicable UK Accounting Srandards have been fcAlowed: and prepare the finanaal statement5 on the goin8 concern basis unkss li is Inappropria￿ ro wesume that the tharirable company will continue in bUs1r￿S& The trustees ¥e responsible for keeping ade9￿te accounung records that are sufficient to show and explain the company's transacrions and dtsdose with reasonable accurary ar any time the fmancial position of the c¢)mpany and enable th￿ to oisure that the financial ststements c¢ynpty with the Page 3 Adoptionplus Trustees. Report for the Year Ended 3 l March 2024 (continued) Companies Act 2(N)6. They are a150 responsible for Safe￿rdIng the assets of the Company and h￿ce for taking reasonable steps for the prevention and detection of fraud and other irregularirie Going concern The Trustees of the company Considered their obli2a¢ions to Prepa￿ these financial statements on an wopriate basis having specifK reprd w the tharitable ¢ompany'5 ner p05i(ion as at 31 March 2024 and Icoking ahead at future plans and noubly oshllow5 to December 2025. Due to the re5erve5 of the company being a deficit at 31 March 2024. the company has received a letter of suPp￿t from the parent charity. Barnardo's. to provide adequate financial support either in the form of 2 contribuiion or a loan to ensure the business continuity of the company fcr a F)eriod of not less than 12 months from the date of signing these financi￿ statement& As such. in the opinion ol the Trustees. the charitable corrpany has sufficient resources to be able to meet its obligations as and when they fall and accordingty the accounts have been prepared on a going concern basis. Whilst ecor￿mi¢ uncertainties prevail, these are not consKlw¢d ¢0 impacr M the going ccrtern asse55menL The trustees have not identified any material ￿n￿rtaInly relating co going concern and therefore continue to adopt the going concern basis in the preparation of these fman¢tyl statements. All of the t￿reAt trustÈes have raken all the steps that they to have taken to make themselves aware ofany Inf￿marIOn needed by the Charitsble Companls auditor5 for the purposes oftheir audrc and to establish that the auditors are aware of that infonNtion. The trus￿e$ are r￿[ avrdre of any relevant audit nformation of whith the auditors are unavnr Small companies provision stat¢m¢nt This report has been prepared in accordance viith the special provisions reLating to companies subjett io ihe small companies re8Lme within Part 15 of the Cryanies Att 2006. Approved by the Board on .-................. and si￿ed on its behalf by. 13 December2024 Mr Richard Moore [￿reCtOr Page 4 Adoptionplus Ind¢pendent auditorfs report trb the memlJ•rs and Tntstees of AdoptI￿1vIus Opinion on the financial statements In our opinion the financial sratement ve a true and far wew of the State of the Ctrty's affairs as at 31 Marth 2024 and of it5 incoming rex)urces and application of resources for the year then ended.. have been property prepared in accordaKe wsth Unitrd ￿ngdoM Generdlly Accepted Accounting PrattKe: and have been prepared in accordance with the requirements of the Charities and Trustee Invexment (S¢odand) Act 2￿5 and regulations 6 and 8 of the Ch¥ities Accounts (Sc¢xland} Regulations 2006. a5 amended. We have audited the firAncial Statements of Adoptionplu5 fthe Charitable Cc>mpany') for the year ended 31 March 2024 whKh comprise the s￿lement of Financial knivirie% Balance str￿e¢ and notes to the financial Statsrnen￿ induding a summary of signrfKant accouniinz polTrcie&The finanaal reporring framework that has been applied in their prepardtion is applKable13w and United Kingdom Accounting Standards including Financkil Repr￿1￿% Srandard 102 The Finon(iol Rrf￿rtr"AE Stondord opplicoble in the UK ond Repubk of Irthnd (United Kingdom Genern1tyAcceptedA¢¢￿Thtsftg Prattice). Basi5 for opinion We condutted our aLKlit in accordance with Internat￿￿31 StarKlards on Auditing (UK) (ISAS (UK)) and appli0￿e law. Our re5ponsibiliue5 under those standards are further described in the Auditor's responsibilities for the audrc of the financial statements section of our reporLWe believe that the audit evidence we ha¥E obuir*d 15 5uffioent and appropria￿ to provide a basis for our opinion. Independencè Vle are inder*ndenr of the Charity fft accordance with the ethical requirements that are relevant to our audit ¢1 the financial statements in the UK including the FRCS Ethical standard.and we have fulfilled our other ethial responsibilities in accwdance with these requirement& Concluslons relating to golng concern In auditing the financial statemenr&we have COK1￿￿ed that the trustees. use of the going concern basis of accounting in the preparntym of the financial statements is approprrate. Based on the have perfOrn￿d, we have not Identif￿ any mat¥AI uncertsintles relating to events or conditions thal indNidually or collects*ty. may cast siznifKant dswb¢ r)n the Chariry's ability to continue as a going concern for a period of at least twehe from when the financial Statements ¥e authorised for issue. Our responsibilities and the responsibilities of theTrustees with ￿sPeCt to going concern art described in the relewit sections of this reporL Page 5 Adoptionplus Independent Auditoe5 Report to Members of Adoptionplus {contlnued) Other inforniation The Trustee5 are responsible for the other inforry4tKJn. The oth¥ informauon comprises the Information included in the annual rep￿rt and financral statwnenty other than the ftnancial Statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise expliatty stated in our repor¢ we do not express any form of assurance conclusion thereon. Our resFonsibiltty is to read the other inform2ti0n and. in doing so. consider Wheth￿ the other information is materialty inconsistent with the financial ststements. or our knowledge obtsined in the audit or otherwise appears to be ma￿rialty mi5Stated. W we identty suth material incon5isrencies or apparent material mi5Statement& we are required to determine whether this gives rise io a material mIsstat￿ent in the financial stat￿)ents themselve5. IF. based on the work we ha¥e performed. we conclude that there is a nyterial misststement of this other infornution, we are required to report that fact We have nothirtg to repyt in this regard. Other Companies Act 2006 reportmg In our opinicffK based on the work mdertsk£n sn the courye of the audlc. the information gNen in the Trustee5' repyL whith indudes the direaors. ￿Port prtpared for the purposes of company law. for the financial pr for vthich the financial statements are prepared is consistent with the financial statements: and the Directors. rewt included within the Trustees. report has been prepared in accordance with appli¢able lepl requirements. Matters on whkh we are required ts ￿pOrt by exception In the light of the knowledge and urbjerstanding of the Company and 1¢$ environmenc obtained in the course of the a￿￿1( we have not identrfied material rni55raternents in the Director5 report included within theTrustees' reporL We have nothing to reporc in respect af the folloMn8 matters in relation to whth the Companies Act 2rM)6 and Charitie5Accounts (kotknd) Regulations require u5 w report w >vu rf. in our opinion: proper and adequa￿ accouffjing rrfords have nor bew kepLCf rewrns adeqL4tefor our audi hab* not been received frorn branches not Visited by u5: or the finanaal ststements are not in agreem￿ with the acc¢)unting records and return& or certain di5dosures of Dyertors. remunerdtth specthed by law are rth mad< or Page 6 Adoptionplus Independent Auditorfs Report to Members of Adoptionplus (continued). have not recerved all the information aThJ explanaiions we requre f￿ our a￿1( or the Directors were not entitled to Prepa￿ the financial statements in accordan￿ with the small companies regime and take advanfage of the sm211 companies. eXemPt￿n$ in preparing the Directors, report and from the requirement to prepare a Strategic reporL Responsibiliti￿ ofTrustees As ewained mre fulty in the Statement of Trustees Responsibilities. the trusrees {who a￿ also the direttors of the charitable company for the purpose of company lawl are responsible for the prepardtion of the firwicial stsrements and for being satisfied that they gNe a true and fair view. and for such internal control as theTrustees deterniine is necessary to enab￿ the preparntion of financial statements that are free from material misstatemenL v*thether due to fraud or error. In p￿￿￿rIng the financial statement& the Tntstees are re$F￿SIble for assessing the Company's abil to continue as a going concern. di5closin& 3$ applicable. matters related to going concern and using the going concern basis of accounung unle55 the Tru5tee5) either inrend to IiquKlate the Company or to cease operdtion% or have no realistic alternati￿ Ixrt to do 50. Audltoes responsibilities for the audit of the financi￿ statements Ve have been appointed as auditor under secticm 144 of the Cfrqritre5 ACE 2011 ad report in accordance with the Acr and relevant regulations made of having effecr thereunder. Our objectives are to obtain reas¢)nable assurance abc*rt whether the financial statements as a whole are free from material missuiemeni whether due to fraud or error. and to issue an audiwr5 report that includes our oF¥nion. Reasonable aswrance is a high lthtl of asyjrance. but 15 not a guarantee that an audlt condutted in accordance with ISAS {UK) viill aw detect a material misstatsment when it exists. Misstatements can arise from fraud or error aTrJ are considered matrrial rf. individually or in the aggregate. they could reasonabty be expeaed to wffluence the e£￿0M￿ decisions of users taken on the basis of these fina￿131 Stat￿n￿t& The extent to vthich our ￿0¢edu￿ are oroble of detecting Irregularit￿ including frdud 15 detailed below. The extend to which the auditwas Considered capable of detecting Irregularftles Includlnz fraud Irregularities, including fraud. are instances ol r￿n-comPliart¢e L￿S and regulations. We design pr(Kedures in line with ow responsibilitie&outlined al￿t0 detecr material rnLSStatements in respe of irregularities, including fraud. The extent to whith our procedures are capable of detecting iffegularities, rKluding frdud is detailed belo￿. enquiry with Those ChaTEed Governance and Man￿nt regarding knovm or suspetted insrances of non-compliaKe with laws aNI regulation and fraud. induding actual or potential litigation and claims: reviewing minutes of meetings ofThose Ch¥ged with Governanc£ internal audrt report$ and corre¥)ondence with regulat Page 7 Adoptionplus Independent AuditoPs Report to Members of Adoptionplu$ (contInu￿). The extend to which the auditvAs considered capable of deterting Irregularities including fraud (continued) a55essing the design arKI operating effeai¥eness of controls and procedures relerdnt to the preparaiion of the financial sta¢emw)ts and the detettion and preventKJn of irregularttie5 and fraud. induding changes to supplier bank detail& reVi￿nE financial solem￿1 discf05uru and testing to supporting documenration to assess compliance with applicable Liws and reguLItK)ns: chalknging the assumptions and jLKlgements made by management for key estimate& in particuLv ihe assumptions used to recognise long term deferred income.. identfying and testinz the approprrdteness of jojrnal efttr￿s and other adjustments. with particular focus on L￿￿5val account combina¢ions and postings by U￿Xpec[ed users or senlor managemenL and incorporating unpredictability into ow testing apwoach through amending the nature and extent of audit procedures. Our audit Pr￿edureS were dewed to rwMKI to risks of material misstatement in the financial $taternen￿ recognising thac the risk of f￿1 de¢erting a material mi¥tstrm&tt due to fraud is higher than the risk of not detecting one resLtl¢ing from error. as frdud may involve deliberate conceaFment by. for example. forgery. misrepresentations or through collusion. There are inherent limitations in the audit procedures perfornied and the further removed non-compliance with laws and regulations 15 from the events and trdnsactbons refiected in the financial statemarts the less Id¢ely v•e are to become aware of IL A fvrther description of our responsibilities is aydilable on the Financial Reporting Council's website aL' htt s'.1 uditorsre5 nsi es.This description fornis part of our auditor's report. Use of our report This report is made soldy to the Charitys rnem￿ as a body. in accordance with Chapter 3 of Part 16 of the Companies Att 2006. and to the Ch¥rtable Companys mistees as a body. in accordance wi¢h the Chariues and Trustee Inltstment (Scotland) Act 2CQ5. Our audit vnrk has been uThJert2ken so that we might state to the chari￿$ membern and trusteed those matters we are requI￿d to state to them in an auditor's rep￿ and for no other purpose.To the fullest extent pern)itted by law. we do not accept or assume responsibility to aryone other than the Chartable Company and the Charitable Company's trustees as a b(*ty.for our a￿tr work for thi5 reporc or for the Opin￿n5 Y￿ have formed. IY11É91415. Fiona Condron (Sen*)r Statutory Auditor) For and on behalf of BDO LLP, Statutory Auditor Gatsvick UK Date.. 16 December 2024 BDO LLP is a limited li4bikty partnership registexed in Engknd and Wales (with registered number OC305127). Page 8 Adoptionplus Statement of Financial Artivities includkng Income and Expendlture Account for the Year Ended 31 March 2024 Unrestricted Funds 2024 Unre$trirted Funds 2023 Note Income from: Dortati￿5 and kgacies Charitable activitie5 6,513 892.004 725.707 Total Income 926.848 732.220 ExpendI￿re on: Raising fiJnd5 Net Income available for charitable expenditur• Expenditure ￿ tharitsble acrfvi Net movement in fijnds 923,360 732,220 986.621 1.063.125 13 63.261 330.905 Totsl furKls brwght forvfard 13 72&429 397.524 Total funds carried forward 13 791,690 8.429 The above results were derived from contwluing 0pwat1or￿. The tharity ha5 recwFSed gain5 or b)sse5 fv the ye¥ other than che results abo The notes on pages I I to 21 forrn part of these financial Matements. Page 9 Adoptionplus Balance Sheet a5 at 31 March 2024 Restated 2023 2024 Note Fixed assets Tangible assets 11,093 19.228 Current assets Debtors Cash at bank and in hand 10 227.412 51.073 278.485 136.869 116,547 253,416 Creditors: Amounts falling due within year 805.653 721.615 Net current liabilitie5 (527.1681 (468.199) Amounts falling due after more than one year 12 75.615 79.45 Net liabilities 791.690 28.42 Funds balances Vnrestritted funds 13 91.690 28.429 Total f￿d$ 1.690 728.429 These financial sratrments have been prepared in accordance with the special Fwovisions relatirtrd to comparbies subject to the small companies regime within Part 15 of the ComPan￿S Act 2006. Approved and authori5ed by the Board on _. ._ and SI￿ on its behall br. 13 D￿8fft￿ 2024 Mr Richard Moore TrUs￿e Thè notes on pages I I to 21 forni part of these financial statem￿)￿ Page 10 Adoptionplus Notes to the Financial Statements for the Year Ended 31 March 2024 l General inft•rn)ation The company is a private company limited by gvardntee without share opital. incorporated in England and Wales. It operates throughout the UK and in August 2023 reghsternl as a th¥ity in England and Wales (Charity Commi55ion regisrrntion number 120H19>. 2 Accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below. These pc4icies have been consistw)ty applied to all the years presented. unless otherwise stated. Basi5 of preparation Adoptionplu5 is a Pri￿ate company limited by guarantee {regi5wed in Englarbj. Company number 06900397). It ¢Jperates thrtsugh￿t the On 21 Auzust 2013 it became a thartty registered in England and Wales (Charity Commission registration number 12044191. k is zovemed by Articles of Association. As a result of the thange in registrdticffl from a company to a thariry. there are some presentstK*n and format changes within the accounr* A Stat¥n￿r of Fironcial kuvitie5 is I￿lUded. vthich has r￿ceSSItated changes in positi￿ing ￿ prior year numbern The balance sheet is in a $I￿h¢1Y drfFerent fornu¢ with corresponding dunges to prior year numbers. Accruals and deferred income the baknce sheet ha5 restated to show release within and after than year. The 5plii is in line viith serrice delrw. Previw5ty all the release Y￿$ shown within one year. Detspls of thts pritx period adju5¢mwt is given in note 12. The accounts have b￿n wepared in accordance with apP1Kab￿ accountiro s¢andard5 in the United Kingdom, Accounting and Reporung by Charitie& Statemenr of Recommended Pracrice applKable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of IreLind {FRS102) (Chartties SORP {FRS102)l and the Financial Reportw Standard applicable in the UK and RepublK of Ireland {FRS102). tozethw with the reporting requwements of the Companies Act 2W. the Charities Act 101 I. Presentatlon currency The functional currenq ofAdcptionpkn is pounds because that is the currency ofthe primary enwronmenr in whith the organisation operates. FIna￿la1 reporting standard 102- reduced disclowre exemptions The company has oken advantage of the following disdosure exwnptK)ns in preparwtrg these financial st)teMen￿ as permitred ty the FRS 102 "The Financial Reporting StaNlard 2pplKable in the UK and Republi¢ of Ireland.. . the requirements of Section 7 statement of Cash Flows: ' the requirements of Section I l Financial Inswments paragraph 11.39 to I1.48A' and • the requirernMts ol Sertion 33 Related Party Disclosures par7graph 33.7. Page 11 Adoptionplu5 Notes to the Financial Statements for the Year Ended 31 March 2024 (Continued) 2 Accounting policies (contlnued) Financial reporting standard 102- reduced disdosure exemptions (continued) This information is included in the consolidated financial statements of Barnardo's as at 31 Marth 2024 nd these f￿anCIal statements may be obtained from Tanners Law Barkingside. Ilford. Essex IG6 1 QG Golng concern The rrustees have consid•xed their thlizations to prepare these financial statements on an appropriite basis, having specific regard to the company s net posrtion as at 31 Marth 2024 and knking ahead at future plans and notabty oshlkn to Decunber 2025. Wlhilst the reseNes of the company are in a deficit Position as at 31 March 2024 1£791.6k), the cornpany ha5 re¢eiYed a kner ol support from the parent tharity. Barnardo's. to pro¥ide adequate finanoal support either in the forn) of a contribution or a loan to ensure the i￿sinesS continuity of the rnpany for p￿1 of less than 12 months from the date of signing these fmncral state[r￿nts. As such. In the opinion of the trustees. the company has sufficient resources to be able to meet its obligatitins as and when they fall ar￿ accordingty the accounts have been prepared on a going concern basis. Whilst ecryTromK uncenainties prevail, these are not considered to impatt on the going concern assessment The trustees have not hjentified any material uncertainty relating to going on¢ern and therefore continue to adopt the going concern basis in the preparation of these financial staiements. Charitable Funds Unrestricted funds are a￿lIable for use at the discretion of the Trustees ￿ furtherance of the charitable objectives. ReStr￿ted funds are su*'ect to specrfK condr(￿S by dor￿r$ as to how they may be used. Critkal accounting estlmates and judzemer To be able to prepare financral sraremenrs In attordan¢e viith FRS102 arbd the Charities SORP. Adoptionplus must make certain estimate5 and judgements that have an impact on the policies and the amount reported in the annual accounts. The estimatss and I￿ents are based on historical experiences and other factors including expectations of future events that are believed to be reasonable at tt* time 5uth estimates and judgement5 ¥e mad Significant judgements Deferred Income The Adopuonplus service model 15 pioneerin& and the deferred income calculatM)n 15 evidence based. which demonstrntes it is highly effecrive albeit $0 f¥ with a relativety small number of cases in the data. The Trustee5 have agreed. based ¢)n the diverse need5 for continuing support for our servTrce users. on a weighted average calculation for the f￿anCIal resource5 requwed to meet future demand. Page 12 Adoptionplu5 Note5 to the Financial Statements for the Year Ended 31 March 2024 2 Accounting policies (continued) Signlficant judgements (continued) This is rellected in dderred income recognised as due within and after more than one year in the account& Significant estimates Provisions All provisions are estimated from a review of expected c05t5 based ￿ historical data and experted fLrture likelihood of speThl. Income Income camprlses the fair Wdlue of the consideration received or recewdble for the sale of goods and FYOV45iOn of services in the ¢)rdinary course of the Ccmnpany's activities. Income is shown net of saleslvalue added reojrns rebafes ar￿ disco￿￿. The thariry recognises income when: . the amount of revenue can be reliably measured: • it is probable thar future ecorK•mi¢ benrfits will flow to the ￿trI￿. and • specific criteria have been for each of the charffy's ¥ttivrL*S. Deferred income relate5 to adoption placements mad¢ *thereby fijture support will be provided to the children up to them reaching the age of 18. Income is initRIty deferred onto the balance shee¢ and released evenly to the child reathing 18 years of a Current and defwred tsxatio Adoptic¥bplus has a deficit for year ended 31 March 2024. D￿ to this deficii there is no recognttion of any tsx expense or deferred tax in the Statemenr of Financial Actrvities for this period. The charity is not likety io pay gi¥trh i($ tharrtsble ststu Tangible assets Tangible asseu are stated in the statement of financial positit)n at cosi less any subsequent accumulated depreciation and subsequeni accumulated impairment losses. The c05t of tangible as5e(s includes directty attributat￿e incremental costs incurred in their aCqui5rtW￿ and installation. Page 13 Adoptionplus Notes to the Financial Statements for the Year Ended J l March 2024 (continued) 2 Accounting policies (continued) Depreciation Depreci2ti¢)n is provided atthefollowng annual rate5 in crder to wri￿ of eath a55et over estimated useful life. Asset class Depreciation rate Fixwres and frttings 20% - 33% Short leasetrdd L4nd and buildir Cash and cash equinlents Cash and cash equirdlenTS cfynprise osh on hand call dep)sit& and other short-term highty liquid investments that are readity convertible to a known amount of osh and are subject to an insignificant risk of change in valu& Trade debtors Trade debtors are arno￿ diR from Custo￿ for serv￿$ perfc*med In the txdinary course of business. Trade debtors are held at cosr less any provision for b3d debr& A provision for the impalrment of trdde debtors is established when there is 0￿.eCtive evidence that the company will not be able to collea all amounts due according to the (Yiginal term5 of the reCe￿able% Trade credltors Trdde credrtor5 are obli8a(ions to pay for zwds or $wvi￿S ihar have been acquired in the ordinary course of business from supplier5. Accounts pardble are dassif*d as current Ikibilr¢ies rf the c¢)mpany does not have an unconditional r￿( at the end of the reporting period. to 5ettknient of the creditor for at least twelve months after the reporting date. If there is an uncondttional right to defer settlement for ar least ￿￿1Ve months aftv the rewting da¢< they are PreSen￿d as non