**Charity registration number NIC103068** **Company registration number NI023076 (Northern Ireland)** ## **FAMILY CARE ADOPTION SERVICES** **(A COMPANY LIMITED BY GUARANTEE)** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 4| |Statement of trustees' responsibilities|5| |Independent auditor's report|6 - 11| |Statement of financial activities|12| |Balance sheet|13| |Statement of cash flows|14| |Notes to the financial statements|15 - 30| ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mrs M Frawley|| |---|---|---| ||Ms J Coulter|| ||Mr S Small|| ||Mrs P McGrogan|| ||Mr K Murphy|(Appointed 25 October 2023)| ||Ms J Porter|(Appointed 25 October 2023)| |**Charity registration number**|NIC103068|| |**Company number**|NI023076|| |**Registered office**|50 Knockbreda Road|| ||Belfast|| ||BT6 0JB|| |**Auditor**|GMcG Group Limited|| ||17 Mandeville Street|| ||Portadown|| ||Craigavon|| ||Co Armagh|| ||BT62 3PB|| |**Bankers**|AIB|| ||35 University Road|| ||Belfast|| ||BT7 1ND|| ||Ulster Bank Limited|| ||Danesfort|| ||Stranmillis Road|| ||Belfast|| ||BT9 5UB|| |**Solicitors**|Rosemary Connolly|| ||2 The Square|| ||Warrenpoint|| ||Co Down|| ||BT34 3JT|| **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024** The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The main objectives of Family Care Adoption Services (FCAS) are: - To provide a comprehensive range of specialist services to anyone affected by adoption; - To provide these services directly to individuals and on behalf of Health & Social Care Trusts; - To contribute to the development of adoption service provision throughout Northern Ireland; - To develop innovative services for children and young people in care or adopted. The principal activities of FCAS are:- - To recruit and prepare families in adoption for children offered to the charitable company for adoption placement; - To provide a comprehensive range of adoption support services in accordance with the provisions of the Adoption (Northern Ireland) Order 1987; - To provide a range of ancillary support services for adults and children involved in care or adoption proceedings. The trustees have paid due regard to guidance issued by the Charity Commission for Northern Ireland in deciding what activities the charitable company should undertake. ## **Achievements and performance** The achievements of the charitable company during the year included:- - The charitable company continued to assess and approve prospective adoptive parents for placements. Most were also dually approved as foster carers to as to be available for those children whose legal proceedings were not compete at the time of placement. Three placements were made in the year with others at various stages of progress at the year end. - The charitable company continues to work with Adoption Routes and Adopt NI to deliver birth family counselling. This partnership has been in place since 2009, with Adopt NI joining in 2015. The programme was funded by the Health and Social Care board to September 2023 and continues to be funded on a rolling basis. - 1 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **Achievements and performance** FCAS provides services to the five Health and Social Care Trusts in relation to providing family placements for children from care in need of adoption. This is a core service for the charity and is key in providing and maintaining financial stability as each placement generates an inter-agency fee. In a time of financial constraint however, the Trusts are increasingly likely to seek placements within their own resources as a first preference, which may present some uncertainty in future periods. The charity continues to engage with the five Northern Catholic Diocese on an annual basis in relation to their contributions towards service provision to adopted and fostered adults, and to adults historically raised in children's homes which were regarded as operating under the auspices of the Catholic Church. This is an oversubscribed and increasing area of work for which the charity is active in seeking additional funding support, which to date have been unsuccessful. Ongoing service provision is therefore at risk due to the limited and uncertain nature of funding in this area. The Next Step Project is a service that provides support to birth parents, and other relatives, whose children are going to be placed or have already been placed for adoption. This service continued in the year but is due to be retendered with future funding therefore uncertain. The charity receives core funding from the Department of Health towards salaried posts within the charity. This core funding is vital for the charity. The charity's Life Story Project has been funded by the Lottery Community Fund for a five year period beginning in April 2019. This Project works with Young People aged 11-22 who are in Care, have left Care or who have been Adopted, and who have questions about their lives and experiences, in the past and in the present. ## **Financial review** The charitable company's financial results are set out in detail on pages 12 to 30. There is an overall deficit on funds this year of £7,401 (2023 - £126,270 surplus). The charitable company has maintained an overall strong financial position, especially in the current funding climate. The accumulated funds (unrestricted and restricted) now stand at £499,977 (2023 - £507,378). This comprises restricted funds of £97,358 (2023 - £155,928) and unrestricted funds of £402,619 (2023 - £341,450). In the financial period an amount of £94,520 (2023 - £22,155) was transferred from unrestricted funds to restricted funds as a contribution from general reserves to make good a shortfall in restricted funds received in the year. In addition, an amount of £91,973 was transferred from restricted funds to unrestricted funds as these funds no longer carry a restriction on use. The trustees acknowledges the ongoing support from the Department of Health, the Health and Social Care Board as well as other funders and supporters. - 2 - ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **Structure, governance and management** The charitable company is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 20 September 1989. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mrs M Frawley Ms J Coulter Mr S Small Mrs J Crowe (Retired 19 September 2023) Mrs P McGrogan Mr K Murphy (Appointed 25 October 2023) Ms J Porter (Appointed 25 October 2023) As set out in the Articles of Association, the existing Directors may appoint any person willing to act as a Director. There is no maximum number of Directors, but there is a minimum of two. The members of the Board of Directors are drawn from a variety of disciplines as it is considered that a varied membership provides the necessary skills, knowledge and experience to exercise good governance of the charitable company. ## **Directors induction and training** The charitable company has an induction programme for new Directors. This comprises of an information pack containing details of operation aspects of the charitable company, annual reports and audited accounts, an orientation session with Board of Director members and senior staff and observation of Board of Director meeting. ## **Organisation** The trustees administer the charitable company and appoint a Chief Officer to manage the day to day running of the charity. The Board meets approximately 5 to 6 times per year. ## **Risk management** The charitable company has produced a risk management schedule as part of a formal process to identify risks to which the charitable company is exposed. This is monitored and steps taken as appropriate in order to mitigate those risks. The main risk the charitable company faces is in relation to the availability of future funding, the directors continuously seek sources of funding for the charitable company. ## **Reserves policy** Reserves are necessary to bridge the funding gap between remunerating staff and the receipt of the funds generated by the professional services provided by those staff members. Whilst core and Diocesan support some of these costs, the charitable company has to rely on the use of its services by the Health and Social Care trusts and others, if it is to remain viable. In view of the uncertainty over the extent and timing of the flow of such work, the trustees consider that an ideal level of unrestricted reserves to be between 3 to 4 months of running costs. The current level of reserves is £499,977 of which £402,619 is unrestricted. ## **Plans for the future** The charitable company will continue to develop specialist adoption and childcare services in partnership with statutory and voluntary bodes. Some of which include: - Funding for The Life Story Project, which provides services to young people in and from care, is secured until March 2024. - The charitable company has engaged with the Rank Foundation for the employment of a position until March 2025. - 3 - FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Auditor In accordance with the company's articles. a resolution proposing that GMCG Group Limited be reappointed as auditor of the company will be put at a General Meeting. Small companies exemption In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. Disclosure of inforniation to auditor Each of the trustees has confimied that there is no infomiation of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees. 4fr MSJ Trustee uller Mrs P McGrogan Trustee ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## **FOR THE YEAR ENDED 31 MARCH 2024** The trustees, who are also the directors of Family Care Adoption Services for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 5 - CHARTÉRÈD AceouNTANTS FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FAMILY CARE ADOPTION SERVICES Opinion We have audited the financial stalements of Family Care Adoption Services (the 'charitable companv) for the year ended 31 March 2024 which comprise the statemenl of financial activities, the balance sheet, the statement of cash flows and notes lo the financial statement5, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of reSoUr￿s, including its income and expenditure, for the year then ended., have been properly prepared in accordan￿ with United lQngdom Generally Accepted Accounting Practi￿,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibililies under those standards are further described in the Auditoffs responsibilities forthe audit ol the financial statements section of our report. We are independent of the charitable company 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 wth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees. use of the going concem basis of accounting in the preparation of Ihe financial statements is appropriate. Based on the work we have perfonned. we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on Ihe charitable company s ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. 17 MandeTrTrlle Street .41fred House 19 Alfred Street BEtF.igr wr2 8EQ DX3910 NR Belfast 50 Centuryi House 40 Crescent Busine&s Park LISBUILN BT28 2GN cr￿saV0n BT62 3PB Tel: +44 (0)28 3833 28oA Fax:+44 (0)28 3835 0293 Tel: +44 (0)28 9031 I113 Fax: +44 (0)28 9031 OT17 Tel: +H (0)28 9260 7355 Fax:+44 (0)28 9260 1656 GMcCisatradinszthmeotGmLfjGroupiam￿¢d. RogNo."N]059(th-iistdthreaorsaVikb￿*tTeBL**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
49,360
96,547
Charitable activities
**4**
137,092
170,104
Investments
**5**
2,707
-
**Total income**
189,159
266,651
**Expenditure on:**
Charitable activities
**6**
135,443
327,768
Other expenditure
**11**
-
-
**Total expenditure**
135,443
327,768
**Net income/(expenditure)**
53,716
(61,117)
Transfers between
funds
(2,547)
2,547
**Net movement in**
**funds**
**8**
51,169
(58,570)
**Reconciliation of funds:**
Fund balances at 1 April 2023
351,450
155,928
**Fund balances at 31 March**
**2024**
402,619
97,358|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
145,907
48,038
173,365
307,196
169,838
156,275
2,707
195
-
455,810
218,071
329,640
463,211
107,718
313,705
-
18
-
463,211
107,736
313,705
(7,401)
110,335
15,935
-
(22,155)
22,155
(7,401)
88,180
38,090
507,378
263,270
117,838
499,977
351,450
155,928|**Total**
**2023**
**£**
221,403
326,113
195| |---|---|---| |||547,711| |||421,423
18| |||421,441| |||126,270
-| |||126,270
381,108| |||507,378| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 12 - FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 15 6.330 7,913 CurTent assets Debtors Cash at bank and in hand 16 99.608 455.111 114,369 441.487 554,719 555.856 Creditors: amounts falling due within one year 17 (60,253) (52,593) Nel current assets 494.466 503,263 Total assets less current liabilities 500,796 511.176 Creditors: amounts falling due after more than one year 18 (819} (3,7981 Net assets 499,977 507,378 Income funds Restricted funds Unrestricted funds 21 97,358 402,619 155,928 351.450 499,977 507,378 These financial stalements have been prepared in accordance with the provisions applicable to companies subject to Ihe small companies regime. The financial statements were approved by the trustees on . MSJ Trustee Iter Mrs P McGrogan Trustee Company registration number N1023076 13- ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**Notes**
**Cash flows from operating activities**
Cash generated from operations
**27**
**Investing activities**
Investment income received
**Net cash generated from investing**
**activities**
**Net cash used in financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
2,707|**£**
10,917
2,707
-
13,624
441,487
455,111|**2023**
**£**
195|**£**
23,108
195
-| |---|---|---|---|---| |||||23,303
418,184| |||||441,487| - 14 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies** ## **Charity information** Family Care Adoption Services is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 97 Malone Avenue, Belfast, BT9 6EQ. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102. The charitable company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** As with most organisations operating in the third sector in Northern Ireland, FCAS faces some uncertainty in relation to future funding levels, particularly in respect of the charity's funding from the public sector. FCAS has built up a level of reserves in prior years that will enable the charity to continue with it's current service provision in the immediate future. Therefore, at the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors 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. ## **1.4 Income** Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 15 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies (Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures, fittings and equipment 20% Reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable 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 simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 16 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies (Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. The charity employs one employee for whom contributions are made to a multi-employer defined benefit scheme. The operators of the scheme have identified a potential deficit and have notified an annual additional contribution to be made under the terms of a 10 year recovery plan. ## **2 Critical accounting estimates and judgements** In the application of the charitable company’s accounting policies, the trustees 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 experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates 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 periods. - 17 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **2 Critical accounting estimates and judgements (Continued)** ## **Key sources of estimation uncertainty** ## **Fixed assets** The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies. ## **Debtors** Short term debtors are measured at transaction price, less any impairment. Impairment of short term debtors involves some estimation uncertainty. ## **Pensions** The charitable company is a member of a multi-employer defined benefit pension scheme. Pension obligations have been provided in accordance with agreed upon contributions to the scheme and disclosures have been made in accordance with the requirements of FRS 102. Estimates and assumptions have been used in calculating the present value of future contributions recognised in the financial statements and in the scheme information disclosed at notes 12 to 14. The charitable company used external pension advisors to support the estimates and assumptions made. - 18 - ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **3 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Grants and donations
49,360
96,547
**Donations and gifts**
Department of Health Core Funding
-
66,932
Diocesan Contributions
45,340
-
Rank Foundation
-
29,615
Halifax Foundation
-
-
Other
4,020
-
49,360
96,547|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
145,907
48,038
173,365
66,932
-
133,865
45,340
45,168
-
29,615
-
34,000
-
-
5,500
4,020
2,870
-
145,907
48,038
173,365|**Total**
**2023**
**£**
221,403| |---|---|---| |||133,865
45,168
34,000
5,500
2,870| |||221,403| - 19 - ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **4 Income from charitable activities** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Assessments, Child Placements and Post Adoption Support
118,967
-
Other Adoption Support Services
18,125
-
Life Story Project
-
114,882
Next Steps Project
-
55,222
137,092
170,104|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
118,967
158,755
-
18,125
11,083
-
114,882
-
102,252
55,222
-
54,023
307,196
169,838
156,275|**Total**
**2023**
**£**
158,755
11,083
102,252
54,023| |---|---|---| |||326,113| - 20 - ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **5 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Interest receivable|2,707|195| |**Charitable activities**||| ||**2024**|**2023**| ||**£**|**£**| |Staff costs|253,861|249,500| |Depreciation|1,472|1,840| |Recruitment, training and seminars|1,086|2,220| |Rent, rates and services|10,310|10,269| |Insurance|6,380|4,203| |Computer costs|3,733|4,354| |Light and heat|4,571|3,120| |General expenses|5,796|4,094| |Repairs and maintenance|247|928| |Stationery, printing and advertising|3,941|4,967| |Telephone and postage|6,078|6,147| |Travelling expenses|7,051|10,356| |Adoption panel expenses|1,552|-| |Subscriptions and professional fees|15,695|8,472| |Other project costs|4,000|-| ||325,773|310,470| |Share of support costs (see note 7)|126,554|102,410| |Share of governance costs (see note 7)|10,884|8,543| ||463,211|421,423| |**Analysis by fund**||| |Unrestricted funds|135,443|107,718| |Restricted funds|327,768|313,705| ||463,211|421,423| **6 Charitable activities** - 21 - ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**7**
**Support costs allocated to activities**
Staff costs
Depreciation
Insurance
Stationery
Telephone
Cleaning and hygiene
Rent
Light and heat
Travel
Computer costs
Bank charges
Governance costs
**Analysed between:**
Charitable activities
**8**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets|**2024**
**£**
118,800
111
1,126
297
458
1,985
1,080
508
421
1,245
523
10,884
137,438
137,438
**2024**
**£**
4,500
1,583|**2023**
**£**
95,510
138
741
374
500
1,664
1,080
345
135
1,285
638
8,543| |---|---|---| |||110,953| |||110,953| |||**2023**
**£**
4,500
1,978| ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year. ## **10 Employees** The average monthly number of employees during the year was: |**2024**|**2023**| |---|---| |**Number**|**Number**| |11|11| - 22 - ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**10**
**Employees (Continued)**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
**£**
329,199
25,358
18,104
372,661|**2023**
**£**
291,518
31,246
22,246| |---|---|---| |||345,010| There were no employees whose annual remuneration was more than £60,000. ## **11 Other** |Financing costs|**Total Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
-
18
-
18|**Total Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
-
18
-
18| |---|---|---| |||18| - 23 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **12 Pensions - TPT Retirement Solutions - The Growth Plan** The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 nonassociated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows: ## **Deficit contributions** |From|1|April|2022|to|31|January|
£3,312,000|per|annum| |---|---|---|---|---|---|---|---|---|---| |2025:|||||||(payable monthly)||| Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies. Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows: ## **Deficit contributions** |From|1|April|2019|to|30|September|
£11,243,000|per|annum| |---|---|---|---|---|---|---|---|---|---| |2025:|||||||(payable monthly|and increasing|by 3%| ||||||||each on 1st April)||| The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. - 24 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **13 Pensions - TPT Retirement Solutions - The Growth Plan (continued)** ||31 March 2024|31 March 2023|31 March 2022| |---|---|---|---| ||(£s)|(£s)|(£s)| |Present value ofprovision|3,024|6,473|10,154| ## RECONCILIATION OF OPENING AND CLOSING PROVISIONS ||Period Ending|Period Ending| |---|---|---| ||31 March 2024|31 March 2023| ||(£s)|(£s)| |Provision at start ofperiod|6,473|10,154| |Unwindingof the discount factor(interest expense)|248|191| |Deficit contributionpaid|(3,699)|(3,699)| |Remeasurements - impact of anychange in assumptions|2|(173)| |Remeasurements - amendments to the contribution schedule|-|-| |Provision at end ofperiod|3,024|6,473| ## INCOME AND EXPENDITURE IMPACT |INCOME AND EXPENDITURE IMPACT||| |---|---|---| ||Period Ending|Period Ending| ||31 March 2024|31 March 2023| ||(£s)|(£s)| |Interest expense|248|191| |Remeasurements – impact of anychange in assumptions|2|(173)| |Remeasurements – amendments to the contribution schedule|-|-| |Contributionspaid in respect of future service*|*|*| |Costs recognised in income and expenditure account|*|*| *includes defined contribution schemes and future service contributions (i.e. excluding any deficit reduction payments) to defined benefit schemes which are treated as defined contribution schemes. To be completed by the company. ## ASSUMPTIONS |ASSUMPTIONS|||| |---|---|---|---| ||31 March 2024|31 March 2023|31 March 2022| ||%per annum|%per annum|%per annum| |Rate of discount|5.31|5.52|2.35| The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. - 25 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **14 Pensions - TPT Retirement Solutions - The Growth Plan (continued)** The following schedule details the deficit contributions agreed between the company and the scheme at each year end period: ## DEFICIT CONTRIBUTIONS SCHEDULE |Year|ending|31 March 2024|31 March 2023|31 March 2022| |---|---|---|---|---| |||(£s)|(£s)|(£s)| |Year|1|3,083|3,699|3,699| |Year|2|-|3,083|3,699| |Year|3|-|-|3,083| |Year|4|-|-|| |||||-| |Year|5|-|-|| |||||-| |Year|6|-|-|| |||||-| |Year|7|-|-|| |||||-| |Year|8|-|-|| |||||-| |Year|9|-|-|| |||||-| |Year|10|-|-|| |||||-| The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises. It is these contributions that have been used to derive the company's balance sheet liability. - 26 - ## **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**15**
**Tangible fixed assets**
**Cost**
At 1 April 2023
At 31 March 2024
**Depreciation and impairment**
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023
**16**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**17**
**Creditors: amounts falling due within one year**
Provision for pension scheme deficit
Trade creditors
Other creditors
Accruals and deferred income
**18**
**Creditors: amounts falling due after more than one year**
**Notes**
Provision for pension scheme deficit
Government grants
**19**|**Fixtures,**
**fittings and**
**equipment**
**£**
139,772
139,772
131,859
1,583
133,442
6,330
7,913
**2024**
**2023**
**£**
**£**
93,593
107,870
6,015
6,499
99,608
114,369
**2024**
**2023**
**£**
**£**
3,083
3,699
5,767
3,030
24,292
24,292
27,111
21,572
60,253
52,593
**2024**
**2023**
**£**
**£**
-
2,774
819
1,024
819
3,798|**Fixtures,**
**fittings and**
**equipment**
**£**
139,772
139,772
131,859
1,583
133,442
6,330
7,913
**2024**
**2023**
**£**
**£**
93,593
107,870
6,015
6,499
99,608
114,369
**2024**
**2023**
**£**
**£**
3,083
3,699
5,767
3,030
24,292
24,292
27,111
21,572
60,253
52,593
**2024**
**2023**
**£**
**£**
-
2,774
819
1,024
819
3,798| |---|---|---| |||139,772| |||131,859
1,583| |||133,442| |||6,330| |||7,913| |||**2023**
**£**
107,870
6,499| |||114,369| |||**2023**
**£**
3,699
3,030
24,292
21,572| |||52,593| |||**2023**
**£**
2,774
1,024| |||3,798| - 27 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **19 Government grants** Deferred income is included in the financial statements as follows: |Deferred income is included within:
Non-current liabilities
**20**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
819
**2024**
**£**
18,104|**2023**
**£**
1,024| |---|---|---| |||**2023**
**£**
22,246| The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. ## **21 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. ||**At 1 April**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|**At 31 March**| |---|---|---|---|---|---|---|---| |||**2023**|**resources**|**expended**|||**2024**| |||**£**|**£**|**£**|**£**||**£**| |Diocesan Capital Fund||24,774|-|-|-||24,774| |Life Story Project||10,622|114,882|(89,344)|-||36,160| |Next Steps Project||91,973|55,222|(55,222)|(91,973)||-| |DoH Core Funding||-|66,932|(161,452)|94,520||-| |Donations||28,559|29,615|(21,750)|-||36,424| |||155,928|266,651|(327,768)|2,547||97,358| |**Previous year:**|**At 1 April**||**Incoming**|**Resources**|**Transfers**|**At 31 March**|| |||**2022**|**resources**|**expended**|||**2023**| |||**£**|**£**|**£**|**£**||**£**| |Diocesan Capital Fund||24,774|-|-|-||24,774| |Life Story Project||1,091|102,252|(98,706)|5,985||10,622| |Next Steps Project||91,973|54,023|(54,023)|-||91,973| |DoH Core Funding||-|133,865|(150,035)|16,170||-| |Donations||-|39,500|(10,941)|-||28,559| |||117,838|329,640|(313,705)|22,155||155,928| - 28 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **21 Restricted funds (Continued)** Diocesan Capital Fund - the various diocese have waived a loan which was made to FCAS some years ago on condition that the amount be retained by the charity to be used for its charitable purposes. Life Story Project - this project assists young people, aged 11 to 22, who are in care, leaving care or have been in care. The project is funded by the Lottery Community Fund. Next Steps Project - this project provides support to birth families and their relatives whose child has been or is being placed for adoption. The project is funded by the Health & Social Care Board. DoH Core Funding - the Department of Health has provided funding towards the salaries of three employees. Donations - The Rank Foundation provided a grant in the current year for salary costs of one employee. ## **22 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**| |---|---|---|---|---|---| ||**2023**|**resources**|**expended**||**2024**| ||**£**|**£**|**£**|**£**|**£**| |General funds|351,450|189,159|(135,443)|(2,547)|402,619| |**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**| ||**2022**|**resources**|**expended**||**2023**| ||**£**|**£**|**£**|**£**|**£**| |General funds|263,270|218,071|(107,736)|(22,155)|351,450| ## **23 Transfers between funds** An amount of £94,520 (2023 - £22,155) was transferred from unrestricted funds to restricted funds as a contribution from general reserves to make good a shortfall in restricted funds received in the year. In addition, an amount of £91,973 was transferred from restricted funds to unrestricted funds as these funds no longer carry a restriction on use. ## **24 Analysis of net assets between funds** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 March 2024:**
Tangible assets
6,330
-
Current assets/(liabilities)
396,289
98,177
Long term liabilities
-
(819)
402,619
97,358|**Total**
**2024**
**£**
6,330
494,466
(819)
499,977| |---|---| - 29 - **FAMILY CARE ADOPTION SERVICES (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **24 Analysis of net assets between funds (Continued)** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**At 31 March 2023:**
Tangible assets
7,913
-
Current assets/(liabilities)
346,311
156,952
Long term liabilities
(2,774)
(1,024)
351,450
155,928|**Total**
**2023**
**£**
7,913
503,263
(3,798)
507,378| |---|---| ## **25 Financial commitments, guarantees and contingent liabilities** A portion of grants received may become repayable if the charity fails to comply with the terms of the relevant letters of offer. The charity may, in the future, be required to make additional pension contributions in respect of the multiemployer scheme deficit as disclosed in notes 12 to 14. ## **26 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). ## **27** |**Cash generated from operations**
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
Increase/(decrease) in creditors
(Decrease) in deferred income
**Cash generated from operations**|**2024**
**£**
(7,401)
(2,707)
1,583
14,761
4,886
(205)
10,917|**2023**
**£**
126,270
(195)
1,978
(80,213)
(24,476)
(256)
23,108| |---|---|---| ## **28 Analysis of changes in net funds** The charitable company had no material debt during the year. - 30 -