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REGISTERED NUMBER: 09328306 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

FOSTERING LTD

FOSTERING LTD (REGISTERED NUMBER: 09328306)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOSTERING LTD

COMPANY INFORMATION
for the Year Ended 30th November 2023







DIRECTORS: Mrs C Larkin
Mrs J A Williams





REGISTERED OFFICE: B2 Pittman Court
Pittman Way
Fulwood
Preston
PR2 9ZG





REGISTERED NUMBER: 09328306 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

FOSTERING LTD (REGISTERED NUMBER: 09328306)

BALANCE SHEET
30th November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,168 11,206

CURRENT ASSETS
Debtors 5 303,084 202,955
Cash at bank 254,244 443,803
557,328 646,758
CREDITORS
Amounts falling due within one year 6 (99,084 ) (111,926 )
NET CURRENT ASSETS 458,244 534,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

464,412

546,038

CREDITORS
Amounts falling due after more than one year 7 (150,000 ) (210,000 )

PROVISIONS FOR LIABILITIES (1,542 ) (2,801 )
NET ASSETS 312,870 333,237

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 312,868 333,235
312,870 333,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FOSTERING LTD (REGISTERED NUMBER: 09328306)

BALANCE SHEET - continued
30th November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th August 2024 and were signed on its behalf by:





Mrs J A Williams - Director


FOSTERING LTD (REGISTERED NUMBER: 09328306)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th November 2023


1. STATUTORY INFORMATION

Fostering Ltd is a private company, limited by shares, registered in England and Wales, registration number 09328306. The address of the registered office and principal place of business is Suite 8, New Hall Hey Business Centre, New Hall Hey Road, Rawtenstall, BB4 6HL.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is generated from the provision of care for looked after children.

Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Turnover is recognised on the basis of the daily placements made with a full days turnover recognised for every night a placement is with a foster carer. Turnover is measured at fair value of the consideration received.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets are charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant & machinery-25% on cost
Fixtures & fittings25% on cost
Computer equipment-25% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.


FOSTERING LTD (REGISTERED NUMBER: 09328306)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2023


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.

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.

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.

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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents are represented by cash at bank. Bank borrowings are included within creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

FOSTERING LTD (REGISTERED NUMBER: 09328306)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st December 2022 19,610 41,656 61,266
Additions - 869 869
Disposals - (20,884 ) (20,884 )
At 30th November 2023 19,610 21,641 41,251
DEPRECIATION
At 1st December 2022 18,334 31,726 50,060
Charge for year 654 5,253 5,907
Eliminated on disposal - (20,884 ) (20,884 )
At 30th November 2023 18,988 16,095 35,083
NET BOOK VALUE
At 30th November 2023 622 5,546 6,168
At 30th November 2022 1,276 9,930 11,206

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 130,681 202,955
Other debtors 172,403 -
303,084 202,955

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,000 60,000
Trade creditors 15,203 19,932
Taxation and social security 17,348 8,383
Other creditors 6,533 23,611
99,084 111,926

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 150,000 210,000

FOSTERING LTD (REGISTERED NUMBER: 09328306)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 66,588 65,527
Between one and five years 41,978 87,472
108,566 152,999

Operating lease contracts are secured against the assets to which they relate.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 210,000 270,000

Bank loans are secured against the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number:

Class
Nominal
Value:

2023


2022
£ £
2 Ordinary £1.00 - 2
45 Ordinary £0.02 0.90 -
45 Ordinary A £0.02 0.90 -
5 Ordinary B £0.02 0.10 -
5 Ordinary C £0.02 0.10 -

2 2
During the year there was a re-designation of shares and a sub-division of shares with the introduction of A,B and C Ordinary shares.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £88,000 (2022 - £96,000) were paid to the directors .

Included in other debtors is a balance of £36,905 (2022 - £nil) owed from Home's Best Ltd, a company that the directors of Fostering Ltd have a controlling interest in. The balance relates to an interest free loan account.