SGO and Savings

Hi All

I hope you are all well.

I have a question which I hope someone will be able to answer for us. We are currently going for an SGO of our grandchildren and we have to complete a financial statement.

Our question is that we know the amount the LA pays per child is means tested but does anyone know if we get penalised for having savings and how much savings we are allowed to have before we are penalised.

We are not doing this for the money but would just be interested to know if we are allowed to have savings or not.

TIA

SueBee47