2022-12-31-accounts - The Children's Family Trust

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		Page
Trustees report		1-12
Independent auditor's	report
Statement offinancial	activities	15-16
Balance sheet		17
Statement ofcash fiows		16
Notes to the financial	statements	19-30

~Rik t:	~Rik t:	~Rik t:	~Rik t:	~Rik t:	~Rik t:	~Rik t:
The Trust undertakes							a formal				Risk Assessment				on		an annual basis. The Risk Assessment and		Risk Register is
updated alongside Assessment. Risks						the 5Year Business are colour coded.						Plan. Red is		The 5 Year Business Plan takes account of risks identified in critical, Amber is highly Important or significant, and Green						the Risk is minor.
Risks are categorised as either Management and place to reduce or eliminate each identified risk. management. For example, before any operational and, within Senior Management and Registered															Governance, Operational, Financial or External. Controls are in The mitigation of risk is considered on an ongoing basis by key changes or any developments In activities provided by the Trust, Management meetings. Any newly identified critical risks are
flagged		up to	Trustees				either		before or			at the		next	planned trustee meeting.
At November			2022			the	principal				risks facing		the charity				and the strategies to manage them were as		follows:
Risk																	Controls
he	Trust		is	unable			to		respond			to	placeman				Communicate closely with commissioners,
requests																	Explain ethos ofthe Trust as a permanency	provider,
																	Use existing capacity to best effect		withou
																	compromising quality,
																	Build placement capacity,
																	ork with commissioners to understand their		needs.
Local Authorities					stance on			Staying Put placements									Review potential impact over next 5years,
																	Maintain dialogue with local authorhies concerned,
																	Lobby government via FFP group,
																	Review Budget 8 5 Year Plan to earmark		potentia
																	carer support,
																	Look at staff training to meet needs of Staying Put
																	Over 18support.
Government			/	Local Authority						cuts push down fees						t	Review service provision,
unsustainable				levels													Review staff utilisation,
																	Find ways of making savings in delivery,
																	Reduce central cost base,
																	Find value suppliers e.g. Insurance, IT, HR,	etc.,
																	Review policy of limiting the number ofplacements			i
																	ach area - increase placement numbers		at lowe
																	ee,
																	Co-operate with other smaller providers in the sector,
																	Support the development of FFP and		develo
																	influence in government / local authorities.
Sector		consolidation					harms		small operators								Monitor changes to the number of		agencie
																	perating in the sector,
																	Research possible merger/purchase targets,
																	Get to critical mass and maintain	placeman
																	numbers,
																	Compete on fee rates and foster carer fees,
																	Continue to build add on services,
																	Monitor LAfor tender opportunities.

			Unrestricted Unrestricted	Unrestricted Unrestricted	Restricted	Total	Total
			funds	funds	funds
			designated
		Notes	2022	2022	2022f	2022 6	2021 8
t
Donations and legacies		3	34,525			34,525	15,550
~Ch 't bt di t'
Foster care local authoriity recharges Student fees	fees and		8,636,947 7,400			8,636,947 7,400	7,637,892 5,400
Investments		4	20,239			20,239	44,577
Total income			8,699,111			8,699,111	7,703,419
~ddtt
R~ii t Fundraising and publicity Investment management			198 64,688			198 64,688	272 32,562
			64,886			64,886	32,834
Ch bth Foster care Fostering independence Lifetime carer costs		6 8 6	8,385,212 3017	68,453		8,385,212 3,017 68,453	7,478,778 2,700 63,414
Total charitable expenditure			8,388,229	68,453		8,456,682	7,544,892
Total expenditure			8,453,115	68,453		8,521,568	7,577,726
Net gains/(losses) on investments		9	102,120			102,120	218,493
Gross transfers between	funds		(68,453)	68,453
Net income for the year/ Net movement in funds			279,663			279663	344 186
Fund balances at 1 January 2022			2,224,693	1,145,571	412	3,370,676	3,026,490
Fund balances at 31 December		2022	2,504,356	1,145,571	412	3,650,339	3,370,676

			2022		2021
		Notes			6
Fixed assets Tangible assets Investment properties Investments		10 11 12		1,517,571 1,100,000 6,093		1,702,924 1,100,000 11,093
				2,623,664		2,814,017
Current assets Debtors		13	516,344		560,160
Investments Cash at bank and in hand			1,002,832		3,398 441,910
			1,519,176		1,005,468
Creditors: amounts one year	falling due within	15	(446,501)		(338,182)
Net current assets				1,072,675		667,286
Total assets less cunsnt liabilities				3,696,339		3,481,303
Creditors: amounts more than one year	falling due after	16		(46,000)		(110,627)
Net assets				3,650,339		3,370,676
Income funds Restricted funds Unrestricted funds - General unrestricted	designated funds	17		412 1,145,571 2,504,356		412 1,145,571 2,224,693
				3650339		3,370,676

		2022		2821
	Notes	f		8
Cash flows from operating activities Cash generated from operations	24		324,836		79,355
investing activities
Purchase oftangible fixed assets		(5,873)
Proceeds from disposal oftangible fixed assets		138,692
Proceeds from disposal of investments Investment income received		110,518 20,239		65,270 44,577
Net cash generated from investing activities			263,576		109,847
Financing activities Repayment of bank loans		(27,490)		(27,962)
Net cash used in financing activities			(27,490)		(27,962)
Net increase in cash and cash equivalents			560,922		161,240
Cash end cash equivalents at beginning	ofyear		441,910		280,670
Cash and cash equivalents at end of	year		1,002,832		441,910

4	investments
			Unrestricted	Unrestricted
			funds	funds
			2022	2021
			0	5
	Rental income		20,239	44,577
5	Raising funds
			Unrestricted	Unrestricted
			funds	funds
			2022	2021
				6
	Seeking donations	snd legacies	198	272
			198	272

Charitable ac	tivities
			Foster care	Fostering independence	Llfegme carer costs	Total 2022	Total 2021
			2022	2022	2022
			6	6
Depreciation and impairment Families costs Foster panel and carers recruitment Salaries and related			30,277 5,466,628 96,763 1,418,478	2,412	8,573 47,872	38,850 5,516,912 96,763 1,418,478	41,208 4,871,203 88,222 1,237,774
			7,012,146	2,412	56,445	7,071,003	6,238,405
Share ofsupport costs (see note 7)			1,292,501	570	11,316	1,304,387	1,120,363
Share ofgovernance 7)		costs (see note	80,565	35	692	81,292	186,124
			6,385,212	3,017	66,453	8,456,682	7,544,892
Analysis by Unrestricted Unrestricted	fund funds funds -	designated	8,385,212	3,017	68,453	8,388,229 68,453	7,481,478 63,414
			8,385,212	3,017	68,453	8,456,682	7,544,892

Suppok and governance	costs
	Support costs	Governance costsf	2022	2021	Basis ofallocation
Staff costs	700,531	60,916	761,447	765,888	On time spent
Depreciation General ofgce costs	13,684 590,172	5,293	13,684 595,465	22,553 397,809	Direct usage Pro rata FTE Staff
Audit fees		9,013	9,013	18,690	Governance
Legal and professional Bank charges Trustees expenses reimbursed		1,163 2,831 604	1,163 2,831 604	92,094 2 391 1,648	Governance Governance Governance
Trustee board meetings		1,472	1,472	5,414	Governance
	1,304,387	81,292	1,385,679	1,306,487
Analysed between Charitable activities	1,304,387	81,292	1,385,679	1,306,487

h	thl
e average	mony	2022	2021
		Number	Number
		45	45
Direct charitable purposes Management and administration		9	8
			53
Total
Employment	costs
Wages and salaries Social security costs Other pension costs		1,821,786 200,567 157,572	1,681,342 174,467 147,853
		2,179,925	2,003,662

Employees				(	Continued)
The number ofemployees	whose annual	remuneration	was more than E60,000
isas follows:
				2022	2021
				Number	Number
In the band E60,001 -E70,000
In the band E100,001-E110,000

Net gains/(l	oss	es) on inv
			Unrestricted	Unrestricted
			funds	funds
			2022	2021
			E
Gain/(loss) Revaluation	on of	sale of investments investment properties	102,120	200,000 18,493
			102,120	218,493

10	Tangible fixed assets		Buildings	Ofgce	fqxturss,	Total
			Improvements		fittings snd
					equipmentf
	Cost
	At 1 January 2022 Additions		1,874,911	115,278	265,675 5,872	2,255,864 5,872
	Disposals		(167,756)			(167,756)
	At 31 December 2022		1,707,155	115,278	271,547	2,093,980
	Depmciatfon and impairment At 1 January 2022 Depreciation charged in the year Eliminated in respect ofdisposals		203,932 28,487 (29,064)	97,183 12,992	251,825 11,054	552,940 52,533 (29,064)
	At 31 December 2022		203,355	110,175	262,879	576,409
	Carrying amount At 31 December 2022		1,503,800	5,103	8,668	1,517,571
	At 31 December 2021		1,670,980	18,095	13,849	1,702,924
11	Investmentproperty					2022f
	Fair value 2022	31Db2022				1,100,000

Fixed asset investments
	Unlisted	Programme	Other	Total
	investmsnts f	Related f	Investments
Cost or valuation At 1 January 2022 &31 December 2022	5,000	6,091		11,093
Canying amount At 31 December 2022	5,000	6,091	2	11,093
At 31 December 2021	5,000	6,091	2	11,093

				2022	2021
Other investments		comprise:	Notes	6
Investments	in subsidiaries

Dbt	Dbt
eors Amounts falling due within one year:		2022f	2021 8
Trade debtors Other debtors Prepayments	and accrued income	388,048 10,652 117,644	414,135 9,670 136,355
		516,344	560,160

		2022	2021
		6	8
Bank loans		67,247	94,737
Payable Payable	within one year after one year	67,247	30,110 64,627

Creditors:amounts falling due within one year
	Notes	2022 6	2021f
Bank loans Other taxation and social security Trade creditors Other creditors *ccruals and deferred income	14	67,247 58,647 64,003 14,319 242,285	30,110 48,442 63,922 14,386 181,322
		446,501	338,182
Creditors: amounts falling due after more than one year		2022	2021
	Notes	6	8
Bank loans Dilapidstions provision	14	46,000	64,627 46,000
		46,000	110,627

Movement		Movement
in funds		in funds
Incoming resources	Balance st 1January	incoming resources	Balance st 31
	2022		Occamacr
	8	8	202Il
	412		412

unrestrict	ed fu	nds by the trustees for	specific purposes:
			Movement
			in funds
			Incoming resources	Balance at 1January 2S22f	Resources expended	Balance at 31 December 2S22 8
Lifetime	carer	costs			(68,453)	(68,453)
					(68,453)	(68,453)

Analysis ofnet assets	between funds Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2022 8	2022	2022 8	2021 6	2021 6	2021 f
Fund balances at 31
December 2022 are
represented by: Tangible assets Investment properties Investments Current assets/(fiabilities) Long term liabilities	1,517,571 1,100,000 6,093 1,072,263 (46,000)	412	1,517,571 1,100,000 6,093 1,072,675 (46,000)	1,702,924 1,100,000 11,093 666,874 (110,627)	412	1,702,924 1,100,000 11,093 667,286 (110,627)
	3,649,927	412	3,650,339	3,370,264	412	3,370,676

23	Events after the reporting date
	There are no events requiring disclosure	after the balance sheet		date.
24	Cash generated from operagons					2022 8		2921f
	Surplus for the year					279,663		344,186
	Adjustments for: Investment income recognised in statement offinancial Gain on disposal of investments Fair value gains and losses on investment properties Depreciation and impairment oftangible fixed assets		activities			(20,239) (102,120) 52,534		(44,577) (200,000) (18,493) 63,759
	Movements in working capital: Decrease/(increase) in debtors Increase in creditors					43,816 71,182		(560,160) 354,072
	Cash generated from/(absorbed by) operations					324,836		(61,213)
25	Analysis ofchanges in net funds			At	1Jsseery 2e22f	Cash flows 8	At $1Oeoember 2022 8
	Cash at bank and in hand				441,910	560,922		1,002,832
	Loans falling due within one year Loans falling dus after mors than one year				(30,110) (64,627)	(37,137) 64,627		(67,247)
					347,173	588412		935585