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Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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Family Care Fostering Ltd |
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Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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Family Care Fostering Ltd |
Family Care Fostering Ltd (Registered number: 07990947) |
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Contents of the Financial Statements |
for the year ended 31 December 2019 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Family Care Fostering Ltd |
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Company Information |
for the year ended 31 December 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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22-28 Willow Street |
Accrington |
Lancashire |
BB5 1LP |
Family Care Fostering Ltd (Registered number: 07990947) |
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Abridged Balance Sheet |
31 December 2019 |
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31/12/19 | 31/12/18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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Family Care Fostering Ltd (Registered number: 07990947) |
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Notes to the Financial Statements |
for the year ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Family Care Fostering Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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After making the appropriate enquiries, the directors have concluded that the group will be able to meet its |
financial obligations and will continue to generate positive free cash flow for the foreseeable future and |
therefore have a reasonable expectation that the company has adequate resource to continue in operational |
existence for the foreseeable future and, accordingly, consider it appropriate to adopt the going concern basis in |
preparing the accounts. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Turnover is derived from the placement of children into foster care and is recognised on an accrued basis. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Financial instruments |
Basic financial assets, including trade and other receivables, cash and bank balances and investments in |
commercial paper, are initially recognised at transaction price, 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. |
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Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies |
and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Family Care Fostering Ltd (Registered number: 07990947) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/12/19 | 31/12/18 |
value: | £ | £ |
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Ordinary | £1 | 10,000 | 10,000 |
Family Care Fostering Ltd (Registered number: 07990947) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2019 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | CONTINGENT LIABILITIES |
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The company has entered into a Composite Accounting Agreement dated 17 July 2007 (The "Agreement"). |
Each participating related party (Dalepeak Limited, Family Care Fostering Limited, Family Care Associates |
Limited, Family Care Associates (Holdings) Limited and Young Alliance Limited) has provided a guarantee to |
Barclays Bank PLC. Under the terms of the Agreement and the cross guarantees, Barclays Bank PLC is |
authorised to allow set-off for interest purposes and in certain circumstances to seize credit balances and apply |
them in reduction of liabilities including debit balances within the Composite Accounting System. The |
maximum potential liability arising under this guarantee at the year end was £73,973 (2018: £769,687). |
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8. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit |
returns to the tax authorities and assist with the preparation of the financial statements. |