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DPC INSTRUCTIONS
Client: THE BARRETSTOWN GANG CAMP (UK) LIMITED Year/Period End: 31/12/2020
FRS 102 (CHARITIES SORP 2015)
WP Doc Name: FAW/ Charge Code: 30024041-A120 WP Operator: LAURA
A0225020
Partner: AISLING Manager: FIONA WALSH Senior:
FITZGERALD
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## **ADDITIONAL PRINTING REQUIREMENTS:** **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors' Report and Financial Statements** **Financial Year Ended 31 December 2020** **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **CONTENTS** ||**Page**| |---|---| |REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020|2| |INDEPENDENT AUDITORS’ REPORT|9| |STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDATURE)|12| |BALANCE SHEET|13| |STATEMENT OF CHANGES IN FUNDS|14| |CASHFLOW STATEMENT|15| |NOTES TO THE FINANCIAL STATEMENTS|16| - 8 - 11 - 26 1 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** 2 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020** The directors of the Charitable Company (the Charity) are its trustees for the purpose of Charity Law. The Trustees present their report and audited financial statements for the year ended 31 December 2020. This report incorporates statutory requirements as outlined in the Companies Act 2006 and that contained in the Statement of Recommended Practice for Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom (FRS102) (effective 1 January 2015). ## **Reference and administrative information** **Charity Name** Barretstown Gang Camp Fund (UK) Limited **UK Tax Authority Registration Number** 1046648 **Company Registered Number** 3050570 **Secretary and Registered Office** Mairead Forristal 2nd Floor, Regis House 45 King William Street London EC4R 9AN **Founder** Paul Newman **Directors at 31 December 2018** Donagh O’Sullivan Peter Harding **Auditors** PricewaterhouseCoopers Chartered Accountants and Statutory Auditors One Spencer Dock North Wall Quay Dublin 1, Ireland **Bankers** Bank of Ireland PO Box 1755 Croydon CR9 25B United Kingdom Lloyds TSB London Bridge Branch 222 Strand London WC2R 1BB United Kingdom **Solicitors** Eversheds One Earlsfort Centre Earlsfort Terrace Saint Kevin’s Dublin 2, Ireland 3 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** ## **Structure, Governance and Management** ## **Legal Status and Governing Document** Barretstown Gang Camp Fund (UK) Limited (“Barretstown UK”) is a registered company in England and Wales incorporated under the Companies Act 2006 on 27 April 1995, under registration number 3050570. It is a company limited by guarantee and does not have a share capital. It is governed by a memorandum and articles of association dated 29 March 1995. Barretstown UK is a registered charity with UK tax authority registration number 1046648. Barretstown UK became a wholly owned subsidiary of Barretstown on 25 August 2004. The charities have common objectives and activities, and Barretstown UK makes grants to Barretstown. ## **Barretstown UK’s Board of Directors and Management** Barretstown UK is governed by a Board of Directors and members do not receive any remuneration in respect of their services to the company. The names of the Founder, Directors and Company Secretary are listed on page 2. ## **Directors' induction and training** New Directors are provided with a Board pack which outlines the essence of Barretstown and how Barretstown UK supports this work including the vision, mission and how the programme and activities are underpinned by Therapeutic Recreation. It also outlines the governance structure and the various committees supporting the work and governance of the Barretstown Board. In addition, new members are invited to Barretstown to meet with various members of the management team to familiarise themselves with the charity, its strategy, its operational plan including financial background and the context within which it operates. ## **Risk management** The Directors have ultimate responsibility for ensuring that the charity has appropriate system of controls, financial and otherwise. The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. Barretstown UK is a subsidiary of Barretstown. The Directors of Barretstown have systems of internal control which include: - A strategic plan and an annual budget approved by the Directors. - Regular consideration by the Directors of financial results, variance from budgets and reports from five Standing Committees: Childcare Advisory, Development, Risk & Governance, Finance & Audit Committee and Nominations and Remuneration. - Delegation of authority and segregation of duties. The Directors of Barretstown have a formal risk management process to assess all risks and implement risk management strategies and mitigation measures. This involves identifying the types of risks that face Barretstown and rate them in terms of: - Potential impact. - Likelihood of occurrence. - Current control in place. - Improvement potential. The risks are identified by a bottom-up approach where each department reviews the risks in their area and then the internal risk team review and rank all risks. Each risk is recorded on the risk register under four risk categories: customer, financial, operational and people. The register includes the detail of the mitigation measures and plan for improvement where required. The 4 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** Senior Leadership Team and the Risk & Governance Committee review and update on a quarterly basis and the Board and other standing committee review on an annual basis. 5 ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** ## _Coronavirus risk_ The impact of the COVID 19 pandemic has been considered in detail for Barretstown itself, however as this entity has a policy of distributing almost 100% of its reserves to Barretstown in Ireland, it is not likely to have any impact on these financial statements. ## **Our Vision** We believe that every child living with serious illness should enjoy their childhood. ## **Our Mission** To rebuild the lives of children affected by serious illness, and their families, through a life changing Therapeutic Recreation programme in a safe, fun and supportive environment. ## **Our Values** ## **Leadership** We believe in working together to bring about positive change in caring for children affected by serious illness and achieving this by being flexible to changing environments and in implementing responses in a dynamic and progressive manner. ## **Fun** We believe that fun should be an integral part of what we do. Fun and laughter are key ingredients in improving the lives of those affected by childhood cancer. ## **Caring** We believe our primary concern is the care of children and their families. We are always responsive to their needs and expectations ## **Professionalism** We believe in always achieving professional excellence and working to continually improve the quality of our experience for children and their families. ## **Barretstown Objectives and Activities** ## **Introduction** Barretstown was founded by the late actor and philanthropist Paul Newman and opened in 1994 to provide medically endorsed programmes of Therapeutic Recreation to children with serious illness and their families. At Barretstown we offer free, specially designed Residential Programmes for children and their families living with a serious illness, supported behind the scenes by 24-hour on site medical and nursing care. We also provide Outreach Programmes in schools and hospitals around Ireland and the UK. Barretstown is a member of the SeriousFun Children’s Network, a global organisation with 30 camps and programmes serving the needs of children and families affected by serious illness. All of our camps and programmes are designed to respond directly to the needs of a child living with a serious illness – both clinical and psychological. Our unique Therapeutic Recreation model is recognised by paediatricians and psychologists all over the world as having a profound and positive impact and is a necessary component of a child’s treatment. The Therapeutic Recreation Programme brings campers through a fun, activity based process of challenge, success, reflection and discovery. Children take part in fun, entertaining and exciting challenges. They experience success in overcoming these challenges. They reflect on their experiences and make discoveries about their true potential and most importantly they go home with increased confidence, self-esteem, independence and new friendships. Being sick can put a child’s life on hold. At Barretstown, we look after the physical and emotional well-being of the child by creating a carefree, safe, medically supported environment where they can make new friends, share experiences and continue their treatment if they need to. 6 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** ## **Supporting other children’s charities** When Barretstown is not used for our core Residential Programmes, we make our site and programme available to other charitable organisations with similar missions and Barretstown provide this service at cost. We are always expanding our illness groups, so these site hires help us trial other illness groups with charitable organisations who have the expertise in this area. ## ~~**Objectives**~~ ~~To help achieve our overall mission, we have identifed eight key objectives which are included in our MAP 2020 strategic plan and are as follows;~~ 1. ~~Move to year-round programming at Barretstown.~~ 2. ~~To provide a continuum of care for more children afected by serious illness, frmly establishing Barretstown as a leading provider in this feld~~ 3. ~~Maintain and Develop Barretstown’s existing fundraising income streams through investment, diversifcation and organic growth~~ 4. ~~To maximise the potential of current/ new commercial opportunities.~~ 5. ~~To create a more efcient, smarter working environment.~~ 6. ~~To make Barretstown a more environmentally sustainable organisation.~~ 7. ~~To further demonstrate Barretstown’s excellence externally through independent accreditation~~ 8. ~~To enable our leaders, managers and staf to realise their individual potential and the role they play in the delivery of MAP 2020.~~ ## Strategy 2024 **A new four-year strategy was signed of by the Board in November 2019, 2020 was the frst year of this new four-year strategy. The results of the four goals are outlined below.** **Goal 1 - Drive Programme Growth Goal 2 - Drive brand and mission awareness to build our reputation. Goal 3 - Drive revenue growth and diversifcation by maximising the commercial potential of the Barretstown brand. Goal 4 - Build our capacity for Growth.** ## **Our Activities** At Barretstown, we aim to provide a continuum of care to support the child and their family on their journey through serious illness, helping to rebuild confidence, self-esteem and independence. Unfortunately, not every family has a positive outcome and Barretstown’s Bereavement Programme offers these families a supportive environment in which they can share their experience of loss and find ways to look to the journey ahead. ## _**Hospital Outreach Programme**_ Our Hospital Outreach Programme (HOP) brings the optimistic, playful spirit of Barretstown to children with serious illness in the hospital setting. By offering unique, creative and developmentally appropriate activities and interactions, we help to restore joy and laughter in a time often laden with fear, stress and uncertainty. Our core Residential Programmes take place at Barretstown on our beautiful 500-acre facility in County Kildare. We are open all year round and host the following camps. ## _**Family Camps**_ Barretstown provides weekend breaks for families, where all day-to-day needs are met, so that they can concentrate on relaxing, having fun and spending time together. These camps offer families a supportive environment where they can spend quality time together - supported by a medical team on site should their child require medical attention over the weekend. 7 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** ## _**Children and Teen Camps**_ Our children and teen camps are specially designed programmes for children aged 7 to 17 affected by serious illness to have some serious fun and meet other children. These adventurous, fun and challenging camps help restore confidence and self-esteem. ## _**School Outreach Programme**_ Barretstown’s School Outreach Programme (SOP) helps reintegrate children back into the classroom environment. Having gone through months and sometimes years of gruelling treatment, children can find the return to school daunting. Our School Outreach Programme also provides an educational component to dispel myths associated with a serious illness in a fun, interactive way. ## **Staff and volunteers** Again, the Directors would like to thank all staff and volunteers for their huge commitment to Barretstown and Barretstown UK. Even in tough recessionary times Barretstown had an enormous amount of volunteers willing to give their time and energy to the delivery of the Therapeutic Recreation programme. It is acknowledged that without the spirit, enthusiasm and hard work of this team that the organisation would not be able to deliver such excellence. **Staff and volunteers - continued** Barretstown is committed to ongoing staff development and adheres to best practice in relation to human resource policies. Barretstown annually reviews its training policies and procedures to ensure that staff are provided with opportunities for development and growth. ## **Donors** Barretstown continues to grow our donor base and have new and old friends to help it provide our Therapeutic Recreation programmes. The Barretstown and Barretstown UK Directors would like to thank each and every donor for their contribution in making it possible. Whether it be corporations, foundations, individuals or the government your support is essential to our successful provision of services. ## **Board members** The Board of Barretstown would like to thank the UK Board for their support, involvement and hard work provided on an ongoing basis. Your continued support helps make it possible and this is acknowledged and appreciated. ## **Financial review** The financial results for the year to 31 December 2020 are outlined in the Statement of Financial Activities (page 12), the Balance Sheet (page 13) and the Cash Flow statement (page 15) and are further explained in the notes to the accounts on pages 16 to 21. Barretstown UK received a total of £27,499 (2019: £42,350) in the financial year to December 2020. Total resources expended amounted to ~~£85,156 £~~ 27,409 (2019 ~~: £57,837~~ £38,643) all on charitable expenditure. Grants were made to Barretstown of £27,499 (2019: £42,350). ## **Principal funding sources** The operating costs of Barretstown are almost entirely funded by generous voluntary donations from corporations, foundations and individuals. A number of fundraising events are held by Barretstown each year. Barretstown receives 2% funding from statutory funding. 8 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** Barretstown is a member camp of the Serious Fun Children’s Network (SKCN). Barretstown receives annual donations through the US charity organisation and the umbrella body, the Serious Fun Children’s Network. The Barretstown Gang Camp (UK) Limited was established to enable UK supporters of Barretstown to donate their funding in a tax efficient manner and during 2004 Barretstown UK because a subsidiary of Barretstown Ireland. Barretstown UK’s strategy continues to support Barretstown Ireland and in 2018 this is reflected by the amount raised through corporate and individual donations. Barretstown strategic plan as outlined below aims to broaden access to programmes for four key countries and therefore, to support this achievement fundraising moving forward will focus on increasingly raising funds in these countries. ## **Reserves** The statement of Financial Activities on page 12 sets out the net movement in fund balances for the year and the balances brought forward. Barretstown UK has a policy of distributing almost 100% of its reserves, prior to the year-end, in the form of grants to Barretstown in Ireland. The unrestricted fund balance is available for general use and amounts £4,414 (2019: £4,324). ## **Investment policy** All funds that are not immediately required for operational purposes are invested in a mixture of short-term deposits. 9 ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** ## **Plans for the future** Barretstown has ambitious plans for the future. We want to be able to continue to develop our unique Residential and Outreach Programmes. While all our plans are subject to funding, we believe that with the help of our donors and through hard work we can continue to make progress. Our Master Action Plan (MAP) sets out the following: - To continually review the excellence and integrity of our Programmes to ensure we are operating to the highest possible standards. - To broaden the current illness groups served with a view to supporting more children and families through our range of programmes. - To further roll out our Outreach Programme into other hospitals, schools and communities. - To continue to develop partnerships with other organisations to benefit programme improvement, staff development and camper recruitment. - To invest further in door-to-door and direct marketing programme to continually develop long-term sustainable income streams and adequate reserves for the future. - To continue to review our cost base. - To continue to review all aspects of the business to ensure we are “fit for purpose” into the future. - To continue the improvements and future proof Barretstown’s facilities for our increasing camper numbers in years to come. ## **Accounting records** The measures taken by the Directors to secure compliance with the company’s and group’s obligation to keep proper books of account are the use of appropriate systems and procedures and employment of competent persons. The books of account are kept at Barretstown Castle, Ballymore Eustace, Co Kildare. ## **Principal activity and review of operations for the year** The company’s principal activity is that of raising funds for the Barretstown Camp in Co Kildare, Ireland. £27,499 (2019: £42,350) of income was received in the year. The closing fund balances after all expenses amounted to £4,414 (2019: £4,324). Since its incorporation, the Company has donated £5,881,801 (2019: £5,854,302) to the Barretstown Camp. ## **Subsequent events and future developments** There have been no significant events affecting the company since the year end. ## **Directors** The Directors of the Company during the year are listed on page 2. ## **Auditors** The auditors, PricewaterhouseCoopers, have indicated their willingness to continue in office and a resolution that they be reappointed will be proposed at the Annual General Meeting. ## **Statement as to disclosure to our auditors** In so far as the trustees are aware at the time of approving our trustees’ annual report: - there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group’s auditor is unaware, and - the trustees, having made enquiries of fellow directors and the group’s auditor that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information”. 10 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **REPORT OF THE TRUSTEES’ FOR THE YEAR ENDED 31 DECEMBER 2020 - continued** ## **Trustees ' responsibilities in respect of the financial statements** The charity trustees (who are also the directors of Barretstown Gang Camp Fund (UK) Limited for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company, and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **On behalf of the board** Donagh O’Sullivan Peter Harding Date: 11 ## _**Independent auditors’ report to the members of The Barretstown Gang Camp Fund (UK) Limited**_ ## **Report on the audit of the financial statements** ## **Opinion** In our opinion, The Barretstown Gang Camp Fund (UK) Limited’s financial statements: - give a true and fair view of the state of the company’s affairs as at 31 December 2020 and of its surplus and cash flows for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law); and - have been prepared in accordance with the requirements of the Companies Act 2006. We have audited the financial statements, included within the Trustees' Report and Financial Statements (the “Annual Report”), which comprise: - the balance sheet position as at 31 December 2019; - the statement of financial activities (income and expenditure) for the year then ended, - the cash flow statement for the year then ended, - the statement of changes in funds for the year then ended; and - the notes to the financial statements, which include a description of the significant accounting policies. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## _Independence_ We remained independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. ## **Conclusions relating to going concern** Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. 12 ## **Reporting on other information** The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities. With respect to the Trustees Report and Financial Statements, we also considered whether the disclosures required by the UK Companies Act 2006 have been included. Based on the responsibilities described above and our work undertaken in the course of the audit, ISAs (UK) require us also to report certain opinions and matters as described below. ## _Trustees Report and Financial Statements_ In our opinion, based on the work undertaken in the course of the audit, the information given in the Trustees Report and Financial Statements for the year ended 31 December 2020 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements. In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Trustees Report and Financial Statements. ## **Responsibilities for the financial statements and the audit** ## _Responsibilities of the directors for the financial statements_ As explained more fully in the Trustees' responsibilities in respect of the financial statements set out on page 7, the directors are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The directors are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. ## _Auditors’ responsibilities for the audit of the financial statements_ Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Our audit testing might include testing complete populations of certain transactions and balances, possibly using data auditing techniques. However, it typically involves selecting a limited number of items for testing, rather than testing complete populations. We will often seek to target particular items for testing based on their size or risk characteristics. In other cases, we will use audit sampling to enable us to draw a conclusion about the population from which the sample is selected. 13 Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Based on our understanding of the company and industry, we identified that the principal risks of noncompliance with laws and regulations related to the operations of The Barretstown Gang Camp Fund (UK) Limited, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of manual journals to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transactions. Audit procedures performed included: - discussions with management, in respect of risk of fraud and any known or suspected instances of non-compliance with laws and regulation and fraud and reviewing Board Minutes; - confirmation with those charged with governance in respect of risk of fraud and any known or suspected instances of non-compliance with laws and regulations; - consideration of the overall control environment and the processes and controls in place in the company, including procedures to achieve compliance with relevant laws and regulations; - testing of journal entries posted throughout the period and at period end; and - evaluating management’s judgements for appropriateness and indicators of bias based on our knowledge and understanding of the business and the requirements of the reporting framework, the evidence obtained from our detailed audit procedures and assessing events occurring up to the date of the auditor’s report. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report. ## _Use of this report_ This report, including the opinions, has been prepared for and only for the company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing. ## **Other required reporting** ## **Companies Act 2006 exception reporting** Under the Companies Act 2006 we are required to report to you if, in our opinion: - we have not received all the information and explanations we require for our audit; or - adequate accounting records have not been kept by the company, or returns adequate for our audit have not been received from branches not visited by us; or - certain disclosures of directors’ remuneration specified by law are not made; or - the financial statements are not in agreement with the accounting records and returns. We have no exceptions to report arising from this responsibility. 14 ## **Entitlement to exemptions** Under the Companies Act 2006 we are required to report to you if, in our opinion, the directors were not entitled to take advantage of the small companies exemption from preparing a strategic report. We have no exceptions to report arising from this responsibility. Aisling Fitzgerald for and on behalf of PricewaterhouseCoopers Chartered Accountants and Statutory Auditors Dublin Date: 15 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDATURE) Financial Year Ended 31 December 2020** |Notes
**Income and endowments from:**
Donations and legacies
5
**Total income and endowments:**
**Expenditure on**
Charitable activities
6
**Net income/(expenditure)**
**Net income and net movement in funds for the**
**year**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|Unrestricted
funds
£
27,499
27,499
27,409
90
90
4,324
4,414|Restricted
operating
£
-
-
-
-
-
-
-|Restricted
capital
£
-
-
-
-
-
-
-|Endowments
funds
£
-
-
-
-
-
-
-|Total
2020
£
27,499
27,499
27,409
90
90
4,324
4,414|Total
2019
£
42,350| |---|---|---|---|---|---|---| |||||||42,350| |||||||(38,643)| |||||||(38,643)| |||||||3,707
617| |||||||4,324| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities 16 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **BALANCE SHEET As at 31 December 2020** |Notes
**Current assets**
Cash and cash equivalents
**Liabilities**
Creditors: amounts falling due within one year
9
**Total net assets**
**Funds of the charity**
Unrestricted funds
**Total unrestricted funds**
**Total charity funds**|2020
£
89,570
(85,156)
4,414
4,414
4,414
4,414|2019
£
62,161| |---|---|---| |||(57,837)| |||4,324| |||4,324| |||4,324| |||4,324| The trustees have prepared accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. The notes on pages 16 to 21 form part of these financial statements ## **On behalf of the board** Donagh O’Sullivan Peter Harding Date: 17 ## **STATEMENT OF CHANGES IN FUNDS Financial year Ended 31 December 2020** |Balance at 1 January 2019
Surplus for the year
**Balance at 31 December 2019**
Balance at 1 January 2020
Surplus for the year
**Balance at 31 December 2020**|Unrestricted
£
617
3,707
4,324
4,324
90
4,414|Restricted
opening
£
-
-
-
-
-
-|Total
£
617
3,707| |---|---|---|---| ||||4,324| ||||4,324
90| ||||4,414| 18 ## **CASHFLOW STATEMENT Financial Year Ended 31 December 2020** |Notes
**Cash provided by/(used in) operating activities**
11
**Net increase/(decrease) in cash and cash**
**equivalents in the year**
**Cash and cash equivalents at 1 January**
**Cash and cash equivalents at 31 December**
**Cash and cash equivalents consists of:**
Cash at bank and in hand
**Cash and cash equivalents**|2020
£
27,409
27,409
62,161
89,570
89,570
89,570|2019
£
42,350| |---|---|---| |||42,350
19,811| |||62,161| |||62,161| |||62,161| 19 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **1 General information** The company’s principal activity is that of raising funds for the Barretstown Camp in Co. Kildare, Ireland. The Company is incorporated as a Company Limited by Guarantee in the United Kingdom. The address of its registered office is Bridge House, 4 Borough High Street, London, SE1 9QR. The Barretstown Gang Camp Fund (UK) Limited’s ultimate parent and ultimate controlling party is Barretstown. ## **2 Statement of compliance** - The entity financial statements have been prepared on a going concern basis and in accordance with UK GAAP (accounting standards issued by the Financial Reporting Council of the UK). The entity financial statements comply with Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (FRS 102) and the Companies Act 2006, which is effective from 1 January 2015. The financial statements have also been prepared in accordance with the recommendations of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom (FRS 102). ## **3 Summary of significant accounting policies** - The significant accounting policies used in the preparation of the entity financial statements are set out below. These policies have been consistently applied to all financial years presented, unless otherwise stated. - The preparation of financial statements in conformity with FRS 102 requires the use of certain key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date. It also requires the directors to exercise its judgement in the process of applying the company’s accounting policies. The areas involving a higher degree of judgement or areas where assumptions and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed in note 9. ## **(a) Basis of preparation** - The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. - Barretstown Gang Camp Fund (UK) Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). - In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP (FRS 102) the restatement of comparative items was required. 20 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **3 Summary of significant accounting policies - continued** ## **(b) Going concern** The Company meets its day-to-day working capital requirements through its cash balances and investments. The current economic conditions continue to create uncertainty over maintaining the level of donations received by the Company. The Company’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate for the foreseeable future. After making enquiries, the executive committee have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Therefore these financial statements have been prepared on a going concern basis. ## **(c) Income** _Donations_ Donations are recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the donations will be received and the amount can be measured reliably. ## _Interest income_ Interest income is recognised using the effective interest rate method. Interest income is presented as ‘interest receivable and similar income’ in the profit and loss account. ## **(d) Expenditure** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: - Expenditure on charitable activities includes the costs incurred in undertaking the various charitable activities which are performed for the benefit of The Barretstown Gang Camp Fund (UK) Limited, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - Other expenditure represents those items not falling into any other heading ## **(e) Funds** All transactions of the organisation have been recorded and reported as income into or expenditure from funds which are designated as “restricted”, “endowment” or “unrestricted”. Income is treated as restricted where the donor has specified that it may only be used for a particular purpose or where it has been raised for a particular purpose. All other income is treated as unrestricted. Expenditure is treated as being made out of restricted funds to the extent that it meets the criteria specified by the donor or the terms under which it was raised. All other expenditure is treated as unrestricted. The balance on each restricted fund at the end of the year represents the asset held by the organisation for particular purposes specified by the donors. The balance of the unrestricted fund at the end of the year represents the assets held by the organisation for general use in furtherance of its work. Endowment fund represents amounts held for investment purpose. Income from these principal amounts will either be (a) unrestricted and used for general purposes, or (b) restricted by the donor or by the Board. 21 ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **3 Summary of significant accounting policies - continued** ## **(f) Foreign currencies** Normal exchange differences arising on revenue transactions are reflected in the result for the year. Purchases and sales of investments are translated at the rate ruling at the relevant transaction date. Bank balances are translated at the year-end rate. ## _(i) Functional and presentation currency_ The Association’s functional presentation currency is Sterling, denominated by the symbol ‘£’. - _(ii) Transactions and balances_ Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated to Sterling using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of activity except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of activity. ## **(g) Cash and cash equivalents** Cash and cash equivalents includes cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities. Cash and cash equivalents are initially measured at transaction price and subsequently measured at amortised cost. ## **(h) Financial instruments** The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable. Any debt instruments are trade related and are wholly payable or receivable within one year. Short term debtors and creditors are measured at the transaction price. The company do not have any bank loans or other third party loans to related parties. Surplus cash is placed on bank short term deposits and the company do not invest in money instruments, derivatives or shares. ## **(i) Provisions and contingencies** Provisions are liabilities of uncertain timing or amount. Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that a transfer of economic benefits will be required to settle the obligation; and the amount of the obligation can be estimated reliably. Contingent liabilities, arising as a result of past events, are not recognised as a liability because (i) it is not probable that the charity will be required to transfer economic benefits in settlement of the obligation or the amount cannot be reliably measured at the end of the financial year. Possible but uncertain obligations are not recognised as liabilities but are contingent liabilities. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote. Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable. 22 NOTES TO THE FINANCIAL STATEMENTS - continued 23 ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **3 Summary of significant accounting policies - continued** ## **(j) Related party transactions** The company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned. ## **4 Critical accounting judgements and estimation uncertainty** Estimates and judgements made in the process of preparing the entity financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **(a) Critical judgement in applying the entity’s accounting policies** There were no significant judgements made by the directors that had a significant effect on the amounts recognised in the financial statements. ## **(b) Critical accounting estimates and assumptions** The directors make estimates and assumptions concerning the future in the process of preparing the entity financial statements. Accounting estimates will, by definition, seldom equal the related actual results. There are no significant estimates and assumptions that will have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |**5**|**Income from donations and legacies**|2020|2019| |---|---|---|---| |||£|£| ||General donations|27,499|42,350| ||The income from donations is all unrestricted in 2020 and 2019.||| |**6**
**Expenditure on charitable activities**
Grants to other charities
Foreign currency gain|2020
£
27,499
(90)
27,409|2019
£
42,350
(3,707)| |---|---|---| |||38,643| The expenditure on charitable activities was all unrestricted in 2020 and 2019. The audit fee is borne by another group company. ## **7 Taxation** The company is exempt from tax due to its charitable status. 24 **The Barretstown Gang Camp Fund (UK) Limited (A company limited by guarantee without share capital)** **Directors’ Report and Financial Statements 2020** ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **8 Particulars of staff** The company had no employees during the year or the previous year, and the company had no key management benefits (2019: £Nil). Trustees received no remuneration (2019: £Nil) or expenses (2019: £Nil) during the reporting period. |**9**
**Creditors –**amounts falling due within one year
Amounts due to group undertakings|2020
£
85,156
85,156|2019
£
57,837| |---|---|---| |||57,837| Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. |**10 Financial instruments**
2020
£
Financial assets at fair value through proft or loss:
Cash at bank and in hand
89,570
Financial liabilities measured at amortised cost:
-
Amounts due to group undertakings
85,156
**11 Reconciliation of net income to cash fow from**
**operating activities**
2020
£
Net income for the reporting period (per SOFA)
90
Adjustments for:
Increase in creditors
27,319
**Net cash provided by operating activities**
27,409|2019
£
62,161| |---|---| ||57,837| ||2019
£
3,707
38,643| ||42,350| ## **12 Related party transactions** The Barretstown Gang Camp Fund (UK) Limited is associated with the US based charity, SeriousFun Children's Network, Inc., and with the Irish based charity, The Barretstown Gang Camp Fund Limited (“BGC”). The charities have common objectives and activities. In the year ended 31 December 2020, grants amounting to £85,156 (2019: £57,837) were payable by the company to BGC. 25 ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## _**13**_ **Events since the end of the financial year** There have been no significant events affecting the company since the year end. ## **14 Approval of financial statements** The directors approved the financial statements on _______________. 26