Company registration number 04946276 (England and Wales)
THE FOSTER CARE PROPERTY COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE FOSTER CARE PROPERTY COMPANY LIMITED
COMPANY INFORMATION
Directors
Mr J Tudge
Mr B J N O'Connell
Mr K J Monk
Ms P M Chinneck
Company number
04946276
Registered office
Penny Hall
The Haysfield
Spring Lane North
Malvern
Worcestershire
WR14 1GF
Auditor
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE FOSTER CARE PROPERTY COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
THE FOSTER CARE PROPERTY COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
562,102
563,806
Current assets
Debtors
5
12,352
-
0
Cash at bank and in hand
-
0
537,371
12,352
537,371
Creditors: amounts falling due within one year
6
(2,698)
(5,218)
Net current assets
9,654
532,153
Net assets
571,756
1,095,959
Reserves
Income and expenditure account
571,756
1,095,959
Total members' funds
571,756
1,095,959

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 17 September 2025 and are signed on its behalf by:
Mr B J N O'Connell
Director
Company registration number 04946276 (England and Wales)
THE FOSTER CARE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

The Foster Care Property Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Penny Hall, The Haysfield, Spring Lane North, Malvern, Worcestershire, WR14 1GF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

These financial statements have been drawn up on the going concern basis which the directors consider appropriate. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.true

1.3
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Rental income is recognised on a straight line basis in accordance with the lease.

Expenses include VAT where applicable as the company cannot reclaim it.

1.4
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:

Freehold property
Nil
Fixtures, fittings & equipment
20% on cost or 25% 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 credited or charged to surplus or deficit.

The directors consider that the freehold and leasehold property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

THE FOSTER CARE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
THE FOSTER CARE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Tangible fixed assets
Freehold property
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
556,316
49,470
605,786
Depreciation and impairment
At 1 January 2024
-
0
41,980
41,980
Depreciation charged in the year
-
0
1,704
1,704
At 31 December 2024
-
0
43,684
43,684
Carrying amount
At 31 December 2024
556,316
5,786
562,102
At 31 December 2023
556,316
7,490
563,806
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
12,352
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
-
0
840
Other taxation and social security
1,198
1,198
Accruals and deferred income
1,500
3,180
2,698
5,218
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

THE FOSTER CARE PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Audit report information
(Continued)
- 5 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its deficit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Colm McGrory FCA
Statutory Auditor:
Ormerod Rutter Limited
Date of audit report:
18 September 2025
9
Ultimate controlling party

Parent undertaking

The ultimate parent company is 'The Foster Care Charity', a charitable company which was registered with the Charities Commission (charity no. 1201143) and Companies House (company no. 14472135) in November 2022.

Ultimate controlling party

There is no ultimate controlling party.

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