GrantThornton Financial Statements Bothar Limited Forthe year ended 30 June 2018 Charity number: 100490 This draft produced on 211312019 12:11 Registered number: N1604943 his.draft" roduced on..2313121I19 12=8 1 Bothar Limited {A company limited by guarantee) Contents Page Referèncè and admlnlstratlvo detalls of the charftyi Its dlrectors and advisers Dlr•ctors' roport Dlrectors. responsibilities statement Indepèndent oxamln8Vs report Statement of financlal a¢tlvitles Balance sheet Notès to tha finanelal stat•monts 9-13 his"draft Toduced Dn"2113124)19. 12-11 Bothar Llmited IA Company limited by guarantee) Reference and administrative details of the compmy, its directors and advisers For the ye2r ended 30 June 2018 Dlreetors H2rry ￿W10r Helga Lt)uise Morro Sinead Poole Company roglstered number N1604943 Charity registered number 100490 Reglstered offtce Ilnna House 37A Upp¢r Duntt]urry lane Belfast Co Antriin BT17 OAJ Accountants Grant Thornton Ch#rter¢d Accountants Mill House H¢nry Street litnerick Page I is dr.aft." t.Dduced pn 211312019;. 12:11 Bothar LTmited IA company limited by guarantee) Directors, report Fot the year ended 30 June 2018 The Directots present their annual report together with the financial statements of Both#r Lin]ited (the company) for the ye2r ended 30June 2018. The Directors confjrni that the Annu21 Report and financial statemenLS of the coinp2ny coinplii with thc current statutory requiremtnts. the requirements olthe company's goiTerning document 2nd the provisions of the Statement of Recommended PLactice (SORP) Ilccollntirjg 2nd Reporting by Charities" issued in 2015. The directors 2re Also the trustees for the purposes of chuiry law. Structurej governance and management a. Cohstltutlon The company 15 registered as a tharitable company Ismited by gu*rante¢ and was set up by 2 Memorandum of Association. 'rhere have been no changes in the objectives since the last 2nnual reporL b. Method of appointment or •lectlon of DiYectOTS The mat¥Enent olthe company is the responsibility of the Directors who are elected and co-optrd under the terms of the Articles of As50ciatiOn. Objectives and ActivAties a. Pollcies and objectlves The objectii'e OC the company is to continue promoting less developed countiies. b. Activltlas for achlevlng objectives The company's pu4)ose is to manage funds and to pay the net income generat¢d froin the fundraisiog to Bothar Irdand. The direct benefits which flow from this pU￿oSe is th¢ financi21 assistance tuwards the improvement in the gertera] awareness of poverry, d￿rdopmenL and susts1￿bi]iry issues in less developed countties. Achievements and perfonnance a. Golng concem After inaksng appropriate enquitics, the directors have a reason*ble expect2ti0n that the company has adequate resources to continue in oper2tional existence for thc foresee2ble future. For this re2son they conunue to adopt the going concern basis in preparing thc financial st2teinents. Further detgils reganling the adoption of the going concern basis can be found in the Accounting Poliu¢s. b. Rèvlèw of actlvltles Thrte has been no Chan￿ in the activities of th¢ company durirtg the year. The eompgny transfers its Sjndrgising income to its parent cotnpany, Bothar Ireland. P4e2 his"draft roduced on 211312019 12..11 Bothar Limited {A company limited by guarantee) Directors, report (continued) For the year ended 30 June 2018 Bothar specialts¢s in the ￿npoWerment of poor rural communities in the developing world. Since its origins, Bothar has focused on the ptoiqsion oFlivestock (primarily in-calf dairy heifers atLd in-kid goats) and trairring to needy familles in developing countries. The core purpose of Bothar's efforts is to raise the incomes of families in 2 sustainable way through the proNision of pioductii'e liiFestock. This enables social 2nd economic development within disxdvant2ged commutkities. The ￿Perience OF Bothar is that liirestock rearing is both a sustainible mechanism to address EX)verty and is beneficid to the environment. Over the years, the company has also supported integ￿tea rural deiTelopinent inÈllatives addressing key global development issues such as climate change and women's parbcipAtion and gender equality. Working with Ioc21 organtsations and through them, Bothar's work has reached thousands of those most VLdnerable in the dth'eloping world including women, Inen, youth and children. Fin2nci21 ￿e￿e a. Regerves policy The company holds funds, being unrestiicted donauons. Total unrestricted reserves at 30 June 2018 were £TrJIL (2017- £NIL). Dlrectors who setved during the yeav H2rry LAwlor Hdgx Louise Morrow Sinead Poole Jaines Joseph Quigley Small companl•s not• Jn pr¢p2rllJg thJ"s repor¢ the directors have tAken advantage of the small companies ¢xemptions proNryded by section 415A of the Companies Act 2006. This rq)ort was approved by the Directors, on 25 March 2019 and signed on their behalf by.. Harry Lawlot Director Page 3 his.draft roduted gn 2113r2019. 12..11 Bothar Limited {A eompany limited by guarantsel Directors, responsibilities st2tement For the year ended 30 June 2018 The Directors are responsible for prep2ting the Directors, repott and the financial statements in accordance with #pplicable law and United lm: Donations Total incom Expènditur• on: Ch2titxble activities Total expenditure 75 Movement total funds tor th• yèar Total fund5 brouglit forATAtd Total funds carried forward All activities rd2te to continiiing operations. The Statement of FinarJci21 Acuvities indude5 all gains and losses recogtiised it) the year. The notes on pages 9 to 13 forrn part OE these financial Statements. Page 7 Bothar Limlted IA company limited by guarantee) Registered nUrnbe￿: N1604943 Balance sheet As at 30 June 2018 2018 2017 note Current assets Cash at bank and in hand 33 49 Creditors: amounts falling du• wlthln one year 33 49 Net current ass•ts Net assets Charity Funds Total funds The Directots consider that the Company is entided to exemption from tiie requirement to have ali audit under the provtsions of section 477 of the Companies Act 20061"the Act.) and members have not requited the Comp2ny to obtain an audit for the yvar in question in accordance with section 476 of the Act. The Directors acknowledge their re5ponsibilitie5 lot complying with the requiremerkts OE the Companie5 Act 2006 ryth respect to accounting tecords and For preparing fwxancial statements which give a ttue and Fair view of the state OE #ffAits of thc C.omp&ny as at 30 June 2018 aiid oEit$ profit for the Ye￿ in 2ccord2nce with the requirements of section5 394 and 395 of tlie Act #tjd wlji¢h othelwise comply with the requirements OF the CompaDie5 Act 2006 relating to flnancial statements. so Ear as applicable to the Company. The [￿ana91 statements have been prepared in accordance with the spe¢i21 provisions relating to companie5 subject to the small cornpanies Iegime within Part 15 of the Companies Act 2006 and in accotdance wtth the pioirtsions of FRS102 Section IA- Sinall Entitie5. The financial Statements were approved by the Directors on 25 March 2019 and $i￿ed on their behalf. by.. Harry L2wlor Directot The notes on page5 9 to 13 fortn part of these fmancial statemerLts. Pag8 8 Bothar Limited IA cornpany limlted by guarantee) Notes to the fLnancial statements For the year ended 30 June 2018 Accounting policies 1.1 Basis of preparation of financial Statements The fmancial statements h2ve been prtpared under the historical cost convention, d]e exception OE investments which 2re induded at market value. The comp2ny is a public benefit enuty. The financial statements have been ptepared in #c¢ord2nce with the Statement o£Re¢ommended Practice ISORP), 'Accountir]g and Reporting by Charitie5' published in 2015. 2ppIic2ble accounting standards and the Companie5 Act 2006. 1.2 Company 6tatU8 Thc company 15 a compwy limited by gu3r2ntee. The membets of the company are the Directors named on page l. In the event of die company being wound up, the liabilityin respect ol the guarwtee is limited to £1 per member OE the company. 13 Fund accounting General fi]nd5 are unrestricted funds which are available for use at the dlscreuon OF the Directors in turtherance of the genttai objectives of the company and which have not been designated for other purpose5. 1.4 Income All income is included in the Statement of financial activitie5 wherj the company has entidement to d]e tunds. cert?ioty of receipt 2nd die amount can be measured with sufficient re]iability. Donated services or Eaci]ities, which cofflprise donated setvices. are included in income at a valu2tiori which is an estirnate OE the IJn2ttoal cost borrLe b), die doiior where such a cost is quantifiable and rneasurable. No income is recognised where there is no lthanoal cost borne by 2 third party. Inconie tsx tecoverable in te12tion to donation5 teceived under Gift Aid or deeds OE covenant is recO￿lsed at the iit]]e of t]ie donation. Income t2x recoverable in rdatioft to investment income is recognised at the time the investment . iAcome is teceivablG 1.5 Expenditure EXpendi￿e 15 accounted for on on accrnals basis and has been included under expense categotie5 that aggre￿te all costs for allocation to activities. Ivhere costs Cannot be directty attributed to particular activtties they h2ve been allocated on a basis consistent with the use of the resotsrces. L6 Going concern After reviemng the company's forecasts and projections, the directors h2ve a reasonable expectation that the comP￿Y has adequate reSO￿tceS to continue in operxtionaL existence for the luteseeable ￿tt]￿e. The conipany therefore continues to 2dopt the going concern basis in prepating its f￿nCIal statements. Page 9 Bothar Limited IA company limited by guarantee) Notes to the fmancial statements For the ye2r ended 30 Jutte 2018 Accounting policie5 {continu•d} 1.7 Cash and cash equivalents Cash is represented by cash in hatxd 2nd deposits with Flnancial institutions repayable Mthout penglty on notice of not more rhan 24 hours. Cash equivalents are highly liquid invesunents that rnature in no more tlian three months Erom the date of acquisition and that are readily convettsble to known amounts 0£ c2gh with insignificant risk of change in value. 1.8 Financial instruments The Comp2ny only enters into basic financial instruments tYdns*ction$ th2t tesuLt in the recognition of F￿ancial assets and li8bi]ities Iske tr2de and odier debtors and creth'tor5. loan5 Irom banks and other thtrd parties. loalls to rdated parties and inve5tmetsts in non-putt2blt ordinary shares. Debt instn]ments (other than those wliolly tepayable or receivable ￿thin one ytrar), including loans and otlier account5 receivable #nd p#yable, *re inillally measured at present value of the fu￿re cash flows and subseqllendy 2t amortised cost using the elEtCtive intetest method. Debt instruments diat are payable or receivable within one year, typic2lly tt2de debtors and cteditors, %&re measu¢el itiiuxlly and subsequendy, It the undiscounted amount of the cash ot other consider2ti0n expected to be paid or received. However, if tlie artxttgements of a short-term Illstn￿ent constitute a lthancing transaction. ke the payment of a trade debt defetted beyond notmxl business tem)s or financed at 2 rate of interest that 15 not a matket rate ot in ¢ise of 2n out-right short-tetttk loan not at matket rate, tlie finanaal asset or liabdiry is measuttd, iiliti2lly, at the present value of the future cash flow discounted at a n]arket rate of interest for a simiJRr debt instrument and subsequendy at an]ortised cost Fin3nci21 assets that are measured at cost and amortised cost are assessed at the end of each tepotting petiod for i)bjtctive evidence oEimp2itn]ent. If objective evidence of impairnient is found. an mpairn]ent1055 is tecogrused in the Statement of comprehensivc income. For financial assets measuted at amortised cost. the impairment loss is measured as die th"IFerence between #n asset's carrying arllount aod the present value ol estimated cagh flows discounttd at the assct'5 ojyginal eEfective interest tate. If x fin2nci212SStt has 2 variable interest iate, the discount rate for . measuting any imp3itJDent loss is the cuttent effective interest rate determined undet the contracL Fot fmancial assets measured at cost less impairmen¢ the impaimient loss is measured as the dtfferettce behveen asset's carrying aTnount and best estimate of the recoverable amount, which is an 2pproximation ol the amount diat the Comp3ny would receive for the asset if it we¢e to be sold at the balaoce sheet date. FInana￿ assets 2nd ]i2bi]ities are offset and the net Amount reported in the BAlance sheet when there 15 an enforceable right to set OEE the recowsed amounts 2nd there is an intention to settle on a net ba51$ or to reahse the asset 2nd setde the liability simultaneously. 1.9 Creditors Short tetm trade cteditors ate measured 2t the tr3ns2cUon price. Other fmancial li#bth"ties, including bank102ns. are mtrasured initiall} at fair Falue, net ol transaction costs, 2nd are measured subsequeiidy at amortised c05t using the effective interest method. P4e 10 Bothar Limited IA company limited by guarantee} Notes to the fmanci21 statements Fot the yeat ended 30 June 2018 Accounting policies {contlnued) 1.10 Foreign curEencies Monetary assets 2nd It2bi]iues denominited in foreign currencies are translated into Sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign cuttencies are translated Anto sterling at the rate tuling on the date of tbe ttansacuon. Exchange gains and losses are recognised in the St2tement of fthancial acllvities Inco￿OratIng income and expenditure account. General Infonnatlon Bothar limited ts a private company limited by guarantee, incorporated in Northern Ireland Its re￿stered office 15 Anna House, 37A Upper Dunmutry Lane. Belfas( Co. Antrim, BT17 OAJ. Judgments In applylny accounting policies and key source5 of estimation uncèrtairtty Preparation of the financial ststements where these judgements and estimates have been made indude.. Going Concert Tlie fthancial statements have been prep#ted ott the going concern b&sis. The directors have prepared group budgets and cash llows for a pctiod of at least t￿rIve months from the date ol the approval of the ststements which demonstrate that rhcre is no material unCert￿lnty regarding the company's ability to meet its ]iabilities as diey fall due, and to continue as a going concetn. On tlii5 basAs the directors consider it apprupriRte to prepate the financial st2ternents on a going concern bas1S. Accordingly. these fth2ncial statemeots do not include any 2djustfflent5 to the carr)ryng amounts and classification OE a55ets and liabilitie5 that may atise if the company was unable to continue 2$ 2 going concern. Voluntary Incom8 Utstestrieted fund6 2018 Total funds 2018 Totsl ds 2017 Donations Tot212017 P4e11 8othar Limited (A company limited by guarantee) Notes to the fmanC1￿ statements Fot the year ended 30 June 2018 Expendlture on charltable activitie3 Other c08ts Total 2018 TotaL 2017 2018 Contribution to Bothar Irdand Bank chatges 5,670 84 5,670 6.449 85 Totsl 2018 R•sources expended During the ytrar, no Directors received any remuneration {2017- £NIL). During the year, no Direttors received any benefits in kind {2017 - £NIL). During the year, no Directors received any reimbursement ol expenses (2017 - £NJL). Staff costs The 8verage number of ernployees includiiig director5 d￿Ing the year was as follows: 2018 2017 No employee received remuneration amounting to Enore than £60,000 in either yeat. Credltors: Amounts falling due wlthfn one year 2018 2017 Related party b￿ance Stat•m•nt of fvnds Balance at I July 2017 lttcome Expenditute Balance at 30 June 2018 UnrestrACted ￿ndS Generdl fund5 5,754 (5,754) Tot21 Page 12 Bothar Limited IA Company Ilmlted by guarantee) Notes to the fmancial statements For the year ended 30 June 2018 Summary of funds Balance at I July 2017 Incoming Resources Balance At 30 resources Expended June 2018 General tunds 10. Analysis of n•1 assèts bètwèèn funds Analysis of net assets betweèn funds - eurr•nt yèar UttresttACted funds . 2018 Total funds 2018 Current assets Creditors due ￿thIrt one year 33 (33) 33 (33) Summary of net assets - prior year Unrestricted nds 2017 Total 2017 Current assets credito￿ due Rwthin one ye3t 49 (49) 49 (491 11. Related party transactions Bothar Co￿LP2￿Y Limited by Guarantee (Irelancg, an Itisb registered comp%tty, is the wholly owned patent comp2ny OE Both￿ Limited Transactions with the wholly owned parent company have not been disdosed in accordall￿ Trith the ekemptions available under FRS 102 Section 33. 12. Controlllng party The company is under the ultitn2te control of its wholly owned p2rerkt comparky, Bothar Company Ltimited by Guarantee (Irdant4 which has its registered office at Old Clare Streel Limersck. Page 13