Annual Report 2005 - The Office of Public Works

NOTES TO THE FINANCIAL STATEMENTS 31 December 2004
1. Income
Interest receivable relates to interest earned on the ACC deposit account.
2. Expenses
Under the current lease terms with the Gang Camp, all outgoings including maintenance and repairs of the
castle are the responsibility of the Gang Camp.
The Camper Scholarship Scheme payment of E5,000 (2003: E5,000) relates to an undertaking by the trust to
renew the sponsorship of a child at the camp for five years from 2003, at a total cost of E25,000.
3. ACC Deposit Account
The balance on the ACC bank deposit account agrees with the bank statement as at 31 December 2004.
4. Creditors
(amounts falling due within one year) 31/12/2004 31/12/2003
E
E
Ernst & Young:
- Accountancy Fee 1,815 2,057
Camper Scholarship Scheme 5,000 -
General accrual 488 809
ESB 100 60
7,403 2,926
The accountancy fee accrual is in respect of the preparation of the financial report for the year ended
31 December 2004.
5. The OPW current account of E3 (2003: E2,831) relates to amounts owed to the Trust reflecting the current
or “suspense” account maintained by the OPW.
6. The OPW continues to support Barretstown Castle Trust in respect of expenditure on capital works, wages
and maintenance. These costs have been accounted for in Government accounts.
Capital Amount 31/12/2004 31/12/2003
E
E
Balance forward 252,238 258,383
Deficit for year (4,752) (1,145)
Balance year end 252,486 257,238
7. The financial statements of Barretstown Castle Trust refer only to the management of the trust. The assets
(Barretstown Castle and surrounding lands), which the OPW maintains, do not appear in the financial
statements of the trust as they were acquired at no cost.
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