Registering a supported accommodation service with OFSTED

The financial and legal information required –how can we help?

In July 2022, the government set out regulations to introduce reforms to supported accommodation for 16- and 17-year-old looked after children and care leavers.

Included in the regulations is the requirement for all service providers to be registered with OFSTED and then comply with the regulations and guidance issued for the purpose of registration from the date of registration.

This information includes statutory information of the company, it’s holding company/ies (if applicable) and all their subsidiaries including the financial statements for each of these entities for the past two years.

In addition, you will need to disclose any financial interests in any children’s social care services whether registered with OFSTED or not.

OFSTED will begin registering providers on 28 April 2023 and if a complete application for registration with OFSTED has not been made before 28 October 2023, it will be an offence to carry on or manage a supported accommodation service on or after that date.

When registering with OFSTED, in addition to the information in respect of the service you will be providing, OFSTED also require certain financial information to assess the financial viability of your service.

You will also need to provide OFSTED with additional financial information such as cash flow forecasts and budgets showing the long-term financial ability to be able to run your service and to present a business plan.

As a minimum, the business plan should cover:

▪ Background information;

▪ A marketing plan;

▪ An operational plan;

▪ A financial plan; and

▪ Who has agreed the overall plan

How can we help?

As specialist advisers within the social care sector, Hazlewoods and RWK Goodman are ideally placed to support you and guide you in compiling the relevant information necessary for a successful application.

We can:

▪ Check through your application and supporting documents to ensure they are complete and assist with any follow-up queries raised by OFSTED. Inspectors will only review your application once they have the correct documents

▪ Assist with appeals against registration refusal

Other services include but are not limited to:

• Preparing financial statements

• Updating of all statutory information at Companies House

• Preparation of cash flow forecasts and budgetary information

• Advice in relation to business structure

• Raising finance

• Corporate finance / M&A – including business sales

• Assistance with financial planning

• Network of professionals specialising in the social care sector