Barrie Wells Trust - Charities report - 22.1

REGISTERED COMPANY NUMBER: 06848662 (England and Wales)

REGISTERED CHARITY NUMBER: 1131478

BARRIE WELLS TRUST

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

16

Trustees

Ms P L J Rothwell

Mr M J C Wells

Mr B J Wells

Ms J Wild

Ms M J Fletcher (appointed 27/9/2021)

Company secretary

Mr M C Waterton

Registered office

F7-F9 1st Floor

City Lab

Dalton Square

LANCASTER

LA1 1PP

Registered company number

06848662 (England and Wales)

Registered charity number

1131478

Independent examiner

Scott & Wilkinson

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 2019).

The Trust's main focus in the year ending 31st December 2021 was to increase the volume of executive box donations from 2020 to enable more beneficiaries to enjoy a Box4Kids event. Focus was also placed on adding additional value to events through meet and greets.

Objectives and activities

Objectives and aims

The objectives of the Trust are, for the public benefit:

- To promote good health and healthy recreation through sport and education for the benefit of the public at large; and

- To promote and further the care, relief and convalescence of seriously ill, terminally ill, disabled and disadvantaged children.

The objectives of the Trust reflect the charity's main focus, Box4Kids. The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Box4Kids is an initiative that enables seriously ill and physically disabled children the opportunity to watch a sporting or entertainment event from the comfort and luxury of an executive box. Not only do these boxes provide them with VIP treatment, they are also a safe, secure space for both the child and loved one.

The children are predominantly nominated by hospital and hospice staff throughout the UK. The initiative was launched in 2010 when Barrie Wells first purchased an executive box at Liverpool Football Club solely for use by Box4Kids. The box is still used exclusively at every match for the benefit of seriously ill and disabled children.

Box4Kids now covers 12 different sports including football, rugby league, rugby union, Formula 1, tennis, athletics, ice hockey, hockey, cycling, basketball, horseracing and cricket. The initiative also offers events at many entertainment venues across the UK including O2 Arena, Wembley, Manchester Arena and the Royal Albert Hall to name a few.

Box4Kids is supported by organisations who donate the use of their executive boxes, whether it be just once a year or on several occasions. Since 2016 the Barrie Wells Trust has been the chosen charity partner of The Jockey Club.

The experiences provide a welcome break for children and their families, taking away the reminder of hospital appointments and creating memories that will last forever.

Following the Covid-19 pandemic and hospitality reopening, Box4Kids was able to resume in June 2021 and built back up to supersede normal activity levels by December 2021.

Barrie Wells Trust Heroes continued to operate until June, however, as the charity's focus and resource was then placed on rebuilding Box4Kids, Barrie Wells Trust Heroes activity was put on hold until the end of the year.

Objectives, strategies and activities

The Trust's main focus during the pandemic was to continue delivering the aims of the Trust and supporting the communities of Box4Kids through the Barrie Wells Trust Heroes initiative. Following the end of the pandemic the Trust's main objective from June until the year ending 31st December 2021 was to rebuild Box4Kids events back to their normal activity levels.

- By the end of 2021 Box4Kids operates in 114 different venues through collaboration with a total of 167 different box holders.

- 10,726 guests have enjoyed a VIP Box4Kids experience since it was launched, with 881 deserving children and their families benefitting in 2021.

- The Barrie Wells Trust had arranged and hosted a total of 95 Box4Kids events in 2021, following the return of activity in June, with an additional 4 events cancelled due to the Covid variant between November and December.

- The considerably lower Box4Kids statistics are due to the Covid-19 pandemic which continued until hospitality was allowed to reopen, albeit at a reduced capacity, in May 2021.

- The Trust has extended its hospital and hospice network across the UK following the pandemic to reach more children and families

- In addition, the Trust and The Jockey Club continue their special partnership.

- The Trust's new initiative, Barrie Wells Trust Heroes, had awarded 90 Heroes, nominated from hospitals, hospices and charities by children who had previously attended a Box4Kids event.

- The Barrie Wells Trust recorded its highest amount of Box4Kids events in November 2021 of 25 events.

- Athlete Ambassador Keely Hodgkinson won a silver medal in the 800m at the Tokyo Olympics and the European Indoors. This resulted in high levels of PR activity for the Trust with features appearing in The Telegraph, BBC, The Times, The Guardian and ITV Granada to name a few. Aston Martin came on board to offer a special VIP experience for Keely Hodgkinson and a group of Box4Kids guests incorporating a drive in the James Bond DB5 Goldfinger car.

Grantmaking - Box4Kids Policy

The scheme was established to benefit seriously ill children by enabling them to attend major sporting and entertainment events around the UK as a VIP in executive boxes. Policy guidelines were created when the scheme began and these guidelines continued to be followed throughout 2021.

With support from appropriate organisations to select deserving young people, Box4Kids continues to be open to children and young people aged 8-18 (aged 6-18 for entertainment and Jockey Club days) who are diagnosed with a physical illness, disease or disability that is serious or life limiting.

Young people who meet the criteria attend the event with one guest over the age of 18, or up to three guests for Jockey Club days.

Children are nominated to attend events by the Barrie Wells Trust's national network of hospitals and hospices or through the Trust's website.

Strategic report

Financial review

Financial position

The Trust spent £233,894 (2020: £190,955) during the period against income of £217,359 (2020: £237,409).

Reserves policy

The Foundation has free reserves of £85,430 (2020: £102,277). It is the policy of the Foundation to maintain free reserves at a level equivalent to one month’s expenditure to cover administration costs. As the major donor is closely involved with the charity, it is not considered necessary to hold excess free reserves.

Material developments in 2021

There are two main areas to comment on:

- 1. Coronavirus - As of May 2021, the hospitality industry was able to reopen, albeit at a reduced capacity. This enabled Box4Kids to relaunch, starting with an event in May at Warwick Racecourse, a Jockey Club venue.

- 2. Staff development - The Trust recruited two additional staff members who joined the Events and Development teams to help rebuild the Box4Kids initiative.

Material developments in 2022

The development focus for 2022 is to increase the total number of Box4Kids events, thus supporting more beneficiaries following the pandemic. This will be achieved by a development strategy of acquiring new box donors, alongside maintaining excellent relationships with all current supporters and charity partners.

Other developments will include expanding the range of beneficiaries that Box4Kids supports. This will be achieved through hospital and hospice growth; creating new charitable partnerships with other charities and disability groups; and development of the self-nomination process.

Structure, governance and management

Governing document

The Barrie Wells Trust ('the Trust') is a registered charity (number 1131478) and is also a private company limited by guarantee (number 6848662). The Trust's Governing Document is its Memorandum and Articles of Association dated 17th March 2009, as amended on 2nd September 2009 and 27th September 2010.

Recruitment and appointment of new trustees

The Trust's Articles provide that there shall be no fewer than two Trustees at any time. No maximum number of Trustees is specified. Trustees are selected carefully in order to bring a range of business knowledge and expertise to the Trust, and each Trustee has received a comprehensive briefing on the purpose and aims of the Trust. New Trustees will be appointed by the existing Trustees. The Trustees meet as necessary in order to review the strategy of the Trust and to oversee the Trust's financial position.

Trustees are required to disclose all relevant interests and register them with the Trust's Company Secretary and, in accordance with the Trust's policy, to withdraw from decisions where a conflict of interest arises.

Trustee remuneration

Two of the Trustees were employed and remunerated by the Foundation during 2021, following receipt of approval from the Charity Commission.

Risk management

The Trustees keep the major risks to which the Trust is exposed under regular review.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 25 July 2022 and signed on the board's behalf by:

Mr B J Wells - Trustee

Independent examiner's report to the trustees of Barrie Wells Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

S W Hinnigan FCA CTA

Institute of Chartered Accountants in England and Wales

Scott & Wilkinson

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

26 July 2022

2021

2020

Unrestricted

Total

fund

funds

Notes

£

£

Income and endowments from

Donations and legacies

2

213,061

215,798

Other income

3

4,298

21,611

Total

217,359

237,409

Expenditure on

Charitable activities

4

Box 4 Kids

227,117

190,955

Athlete sponsorship

6,777

-

Total

233,894

190,955

NET INCOME/(EXPENDITURE)

(16,535

)

46,454

Reconciliation of funds

Total funds brought forward

109,012

62,558

Total funds carried forward

92,477

109,012

2021

2020

Unrestricted

Total

fund

funds

Notes

£

£

Fixed assets

Tangible assets

12

7,047

6,735

Current assets

Debtors

13

71,927

4,093

Cash at bank and in hand

41,548

103,844

113,475

107,937

Creditors

Amounts falling due within one year

14

(28,045

)

(5,660

)

Net current assets

85,430

102,277

Total assets less current liabilities

92,477

109,012

NET ASSETS

92,477

109,012

Funds

15

Unrestricted funds

92,477

109,012

Total funds

92,477

109,012

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 25 July 2022 and were signed on its behalf by:

Mr B J Wells - Trustee

1.	Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Barrie Wells Trust is a private company limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% Reducing balance

Computer equipment

-

Straight line over 3 years

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern

The trustees have assessed that the use of going concern is appropriate and that there are no material uncertainties related to events or conditions that cast significant doubt on the ability of the Chanty to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

2.	Donations and legacies

2021

2020

£

£

Donations

213,061

215,798

3.	Other income

2021

2020

£

£

Government grants

4,298

16,938

Rent relief

-

4,673

4,298

21,611

4.	Charitable activities costs

Grant

funding of

activities

Support

Direct

(see note

costs (see

Costs

5)

note 6)

Totals

£

£

£

£

Box 4 Kids

148,240

-

78,877

227,117

Athlete sponsorship

-

6,777

-

6,777

148,240

6,777

78,877

233,894

5.	Grants payable

2021

2020

£

£

Athlete sponsorship

6,777

-

6.	Support costs

Governance

Management

costs

Totals

£

£

£

Box 4 Kids

54,664

24,213

78,877

Support costs, included in the above, are as follows:

Management

2021

2020

Box 4

Total

Kids

activities

£

£

Wages

22,201

25,670

Social security

1,855

1,864

Pensions

505

430

Rates and water

809

806

Telephone

866

838

Postage and stationery

4,593

3,084

Advertising

3,887

4,503

Service charge

13,617

13,617

Computer costs

3,497

3,403

Travel and subsistence

2,834

471

54,664

54,686

Governance costs

2021

2020

Box 4

Total

Kids

activities

£

£

Wages

3,918

4,530

Social security

327

329

Pensions

89

76

Insurance

420

437

Telephone

153

148

Accountancy fees

3,356

4,054

Legal fees

3,726

1,152

Premises costs

2,403

2,403

Computer costs

617

71

Payroll fees

1,029

1,219

Bookkeeping fees

1,108

2,456

Bank charges

135

162

Sundry expenses

3,603

1,357

Staff training

-

2,625

Carried forward

20,884

21,019

2021

2020

Box 4

Total

Kids

activities

£

£

Brought forward

20,884

21,019

Depreciation of tangible fixed assets

3,329

2,467

24,213

23,486

7.	Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

2021

2020

£

£

Depreciation - owned assets

3,329

2,468

8.	Trustees' remuneration and benefits

Ms P L J Rothwell received remuneration of £12,000 (2020: £11,400). Approval was given in 2011 by the Charity Commission for Ms Rothwell's remuneration.

Mr M J C Wells received remuneration of £8,080 (2020: £nil). Approval was given in 2021 by the Charity Commission for Mr Wells' remuneration.

Trustees' expenses

During the year the charity reimbursed expenses of £3,300 to Mr B J Wells (2020: £307).

The trustees do incur expenses for hosting events but have elected to pay these themselves so they are not formally recorded as expenses of the charity.

9.	Staff costs

2021

2020

£

£

Wages and salaries

117,949

78,288

Social security costs

3,996

5,818

Other pension costs

2,544

1,744

124,489

85,850

The average monthly number of employees during the year was as follows:

2021

2020

Charitable activities

5

4

Governance

1

1

Trustees remunerated

2

1

8

6

No employees received emoluments in excess of £60,000.

10.	Comparatives for the statement of financial activities

Unrestricted

fund

£

Income and endowments from

Donations and legacies

215,798

Other income

21,611

Total

237,409

Expenditure on

Charitable activities

Box 4 Kids

190,955

NET INCOME

46,454

Reconciliation of funds

Total funds brought forward

62,558

Total funds carried forward

109,012

11.	Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examination fee of £3,356 (2020: £4,054).

12.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2021

11,710

45,173

56,883

Additions

792

2,849

3,641

At 31 December 2021

12,502

48,022

60,524

Depreciation

At 1 January 2021

8,502

41,646

50,148

Charge for year

599

2,730

3,329

At 31 December 2021

9,101

44,376

53,477

Net book value

At 31 December 2021

3,401

3,646

7,047

At 31 December 2020

3,208

3,527

6,735

13.	Debtors: amounts falling due within one year

2021

2020

£

£

Other debtors

250

3,162

Prepayments and accrued income

71,677

931

71,927

4,093

14.	Creditors: amounts falling due within one year

2021

2020

£

£

Trade creditors

-

1,679

Social security and other taxes

2,267

652

Other creditors

1,259

519

Accrued expenses

24,519

2,810

28,045

5,660

15.	Movement in funds

Net

movement

At

At 1/1/21

in funds

31/12/21

£

£

£

Unrestricted funds

General fund

109,012

(16,535

)

92,477

TOTAL FUNDS

109,012

(16,535

)

92,477

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

217,359

(233,894

)

(16,535

)

TOTAL FUNDS

217,359

(233,894

)

(16,535

)

Comparatives for movement in funds

Net

movement

At

At 1/1/20

in funds

31/12/20

£

£

£

Unrestricted funds

General fund

62,558

46,454

109,012

TOTAL FUNDS

62,558

46,454

109,012

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

237,409

(190,955

)

46,454

TOTAL FUNDS

237,409

(190,955

)

46,454

16.	Related party disclosures

During the year the charity made the following related party transactions:

Donations made by Mr B J Wells without any conditions attached totalled £118,000 for the year (2020: £140,000).

At the balance sheet date the amount due to Mr B J Wells was £nil (2020: £nil).