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REGISTERED NUMBER: SC261956 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Foster Care Connect Ltd.

Foster Care Connect Ltd. (Registered number: SC261956)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountant's Report 10

Foster Care Connect Ltd.

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Ms EJ Stuart Black



REGISTERED OFFICE: 42 High Street
Galashiels
TD1 1SE



REGISTERED NUMBER: SC261956 (Scotland)



ACCOUNTANT: Gall Robertson CA
Tweedside Park
Tweedbank
Galashiels
Selkirkshire
TD1 3TE



BANKERS: Co-operative Bank
PO Box 250
Skelmersdale
WN8 6WT

Foster Care Connect Ltd. (Registered number: SC261956)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,446 12,443
Tangible assets 5 9,529 12,039
14,975 24,482

CURRENT ASSETS
Debtors 6 176,547 77,547
Prepayments and accrued income 32,659 37,710
Cash at bank 7 616,850 469,353
826,056 584,610
CREDITORS
Amounts falling due within one year 8 98,390 50,810
NET CURRENT ASSETS 727,666 533,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

742,641

558,282

CREDITORS
Amounts falling due after more than one year 9 (14,982 ) (25,810 )

ACCRUALS AND DEFERRED INCOME (85,745 ) (97,518 )
NET ASSETS 641,914 434,954

RESERVES
Income and expenditure account 641,914 434,954
641,914 434,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 surplus or deficit 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.

Foster Care Connect Ltd. (Registered number: SC261956)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2024 and were signed by:





Ms EJ Stuart Black - Director


Foster Care Connect Ltd. (Registered number: SC261956)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Foster Care Connect Ltd. is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis and the validity of this basis is dependent upon the continued support of the company's creditors and debtors.

Revenue
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Foster Care Connect Ltd. (Registered number: SC261956)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office furniture - 15% on reducing balance
Computer equipment - 33% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

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.


Foster Care Connect Ltd. (Registered number: SC261956)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

Foster Care Connect Ltd. (Registered number: SC261956)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 21,204
AMORTISATION
At 1 February 2023 8,761
Charge for year 6,997
At 31 January 2024 15,758
NET BOOK VALUE
At 31 January 2024 5,446
At 31 January 2023 12,443

5. TANGIBLE FIXED ASSETS
Office Computer
furniture equipment Totals
£    £    £   
COST
At 1 February 2023 12,552 37,716 50,268
Additions 2,245 - 2,245
At 31 January 2024 14,797 37,716 52,513
DEPRECIATION
At 1 February 2023 8,107 30,122 38,229
Charge for year 785 3,970 4,755
At 31 January 2024 8,892 34,092 42,984
NET BOOK VALUE
At 31 January 2024 5,905 3,624 9,529
At 31 January 2023 4,445 7,594 12,039

Foster Care Connect Ltd. (Registered number: SC261956)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Computer
equipment
£   
COST
At 1 February 2023
and 31 January 2024 2,920
DEPRECIATION
At 1 February 2023 1,462
Charge for year 584
At 31 January 2024 2,046
NET BOOK VALUE
At 31 January 2024 874
At 31 January 2023 1,458

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 176,547 77,547

7. CASH AT BANK
31.1.24 31.1.23
£    £   
Instant access savings account 540,528 420,452
Carers' account 3,485 1,434
Current account 72,837 47,467
616,850 469,353

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 933 933
Trade creditors 1,231 3,147
Taxation and social security 80,987 33,503
Other creditors 5,239 3,227
98,390 50,810

Foster Care Connect Ltd. (Registered number: SC261956)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 14,049 23,943
Hire purchase contracts 933 1,867
14,982 25,810

10. OTHER FINANCIAL COMMITMENTS

The company had net obligations under finance leases totalling £1,866 (2023 - £2,800) which are secured. At the balance sheet date the company had commitments under operating leases totalling £4,629 (2023 - £5,959).

Chartered Accountant's Report to the Director
on the Unaudited Financial Statements of
Foster Care Connect Ltd.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Foster Care Connect Ltd. for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of ICAS, I am subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Foster Care Connect Ltd. in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Foster Care Connect Ltd. and state those matters that I have agreed to state to the director of Foster Care Connect Ltd. in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that Foster Care Connect Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Foster Care Connect Ltd.. You consider that Foster Care Connect Ltd. is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Foster Care Connect Ltd.. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Gall Robertson CA
Tweedside Park
Tweedbank
Galashiels
Selkirkshire
TD1 3TE


30 September 2024