Charlty reglstratlon number 1134977 {England and Wales) Company registration number 06582318 THE SPRINGFIELD PROJECT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE SPRINGFIELD PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Trustees H C Greenwood Mr Timolhy Boyes (Chair of Trustees) F Cross Sudworth P J Hunt ffreasurer) A Roper Hall Rev T Thomas C L Minchin Hiba Salman Fahiza Begum (Appointed 24 February 2025) (Appointed 23 September 2024) (Appolnted 3 June 20241 {Appolnted 3 June 2024) Mark Zakers Yasser Khan Charlty number (England and Walos) 1134977 Company nurnbor 06582318 Reglstered office The Sprfngfield Cenlre Springfield Road Moseley Birmingham B13 9NY Auditor Thomas and Young Limited Carleton House 266-268 Strafford Road Shirley Solihull B90 3AD
THE SPRINGFIELD PROJECT CONTENTS Page Trustees report Statement of Trust8es r8sponsibllities Independent auditorfs report 10-12 Statement of financial activities 13 Balance Sheet 14 Statement of cash flows 15 Notes to the financial statements 16-28
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial ststements have bèèn prepared in accordance with the accountlng policl8s set out in note 1 to the financial statements and comply wlth thè Springfield Project's goveming document. the Compani6s Act 2006. FRS 102 Yhe Financial Reporting Standard applicabl6 in the UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Objectives and actlvltles Wision, misslon, roots and values Our objecttves are reflected in our vision, mission. roots and values statement. This is set out below: Our vision Is to show God's lovo In our community This means Improving the conditions of life for all our local IdentS in the former Springfield ward and surrounding area. We do this by focusing on children. young people. families and individuals by providing a range of accessible educational. social welfare. recreation, and wellbeing services. Our mlsslon Is to help others live life to the full Our mission is to strtve for every child. every young person, every parent and every adult in our community having the opportunity to reach their full potential in life. This also extends to every member of staff and every volunteer who helps out in any of our services.
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our roots are Christian As an expression of the church's mission. all aspects of our activities should refiect the love. compassion and forgiveness which Christians believe are most perfectly displayed through Jesus Christ. We seek to live out the example of Jesus, who welcomed everyone, listened. and seNed others and wanted us all to grow to experience life in all its fullness. He says. in the Bible. "I have come in order that you might have life, and have it to the full" (John 10'.10). "I tell you the truth. anythlng you dld for even the least of my people here, you also did for me" (Matthew 25.40). °For I came to serve not lo be served.. ° (Mark 10.45). In Acts 6, Jesus, early followers made it a priority to organise care for others. This Continues to be our mandate. Our partners are those who Can help our communlty Our values, rooted in our faith, may be shared by others too and we work in partnership with others to achleve our aims. We celebrate that Christians are not the only people motivated to work for the good of the community. As a place of practical compassion where many people gather. we are glad to learn together with others how Ihey live out their values and faith. Ourvalues Our values define how we d81iver our services. They a regularfy highlighted with staff, volunteers and sejvice users and now dearly fomi part of the induction procedure for new staff and volunteers. In seeking to show God's love in the community and living life to the full. we expect all who represent the Springffield Project to share our values: Welcoming and inclusive: We seek lo provide a safe space for our community where all are welcome. We embrace diversity. celebraling the way in which people of different faiths or no faith can work together to bring about positive change in the lives of individuals and the community- We treat all who come to the Project with respect and warmth and recognise each person as an individual. Listening- We recognise and value the unique insights and experiences of members of our community- We seek to ensu Ihat the views of all those who have an interest in the Project inform the continuous development of our services. Serving.. We seek lo contribute to the transformation of the lives of individuals, families and the wider community. We show compassion in our work. and strive to meet people at their point of need. We seek to get alongside people to share their stories, and offer support. Professional.. Our community deserves the best we can give them: therefore we recruit professionally qualified staff on the basis of their skills, knowledge and experience. We welcome and value Ihe Contribution of our trained volunteers who greally enhance our services. We have policies and procedures in place to help us achieve our aims and objectives. Grong.. We look for the best in people and seek to empower them to use their strengths to take charge of their own lives and to support others. We are all on a joumey of lrfe-long leaming. We leam through our daily life and work, as well as through discussion, reflection. practice and education. We accept mistakes and apologies, and encourage others by showing change and growth in ourselves. The charitable aims of the company as set out in our founding documents state: The objects of the Charity are to provide re and support to people nationally and inlernationally, and in particular to children. young people and families in the ward of Springfield. Birmingham in accordan with the tenets of the Chrtstian failh as understood by the Church of England, in particular but not exclusively by the provision of spiritual and other support, advice. services and facilities in the interests of social welfare for education and recreation with the objective of improving the conditions of life for the residents. Provided that the objects of Ihe Charity shall be delivered without distinction of age, sex, sexual orientation, menlal capacity, race. creed or colour or of political, religious or other opinion; that the fre8dom of people of all faiths or none to hold and to express their beliefs and convictions respecffully and freely, within the limits of the UK law. is a¢knowledged,' and that our Christian fallh or b81ief shall not b8 imposed on others.
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 strategies foraGhieving aims and objectives Our objectivos for 2023-2026 Buslness as usual- We will provide a wide range of supportive activities for children and their families in Sparkhill and the wider area, focusslng on families experiencing poverty and disadvantage. We will retain our expertise and focus on Early Years provision. We will ensure that all of our servi$ and activities are delive to a hlgh standard withln our Quality Assurance Framework. We will ensure that the Project resources are managed effectively We will invest in and make the most of our assets. people and buildings. Priorities: Vision We will strengthen our shared sense of purpose with St Christopherfs Church, living out God's love for Springfield. In the project we will do this by further engaging all staff in what this means. Direction- We will be well prepared for the end of the current BFS contract in order to make strategic decisions and respond to any changes. We will horizon scan, fund raise. deade what to initiate and what to stop led by our vision I mission AND the desire for sustainability in challenging times. We will build on our approach to community relationships, supporbng a more inclusive and integrated community. We will further work with strategic partners to deliver shared aims and develop new strategic and operational relationships to further the aims of the charity. We develop our sense of purpose in nurturing volunteers and opening pathways to employment as an extension of empowering, enabling and enriching. Govemance- We will improve our specificity in measuring and evaluating what we do. We will find better ways of giving value lo the diverse voices of front line staff and those the project serves (of all ages). Cnteria used ft)r assessing succe55 Our Impact model of change - The Springfield Pathway: "Empower, Enable, Enrich" The Springfield Empower, Enable and Enrich EEE pathway provides a vehicle for explalnlng. monltorfng. recording and evidencing milestones on an individual's journey through the centre and measuring our impact as people have opportunSty to Ilve Ilfe In all its fullness. Depending on people's starting point we offer a range of activities that empower, enable. or enrich their lives. We meet individuals at their point of need and work with them to identify a pathway. All of our activities are designed with this in mind. We also want to empower, enable and enrich Springfield as a community and provide events which bring our community together with this aim. We all need the right environment to flourish., this includes children. adults. famllles, our staff and volunteers. To empower is to help people to understand they have a personal Choice, power and authority, or remind Ihem of their personal choice, power and authority and help them leam to use it. We do this by coming alongside people and walking with them on their joumey offering encouragement and emotional support. To onable is defined as lo provido someone with th& resources, authority, or opportunity to do something- to make something possible or feasible." We do this by providing servlces l activities for people to join. To enrich is to improve or enhan the qualty of Irfa for people. We do this through offering social a¢tivities and events for the wider community.
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Public benefit The Trustees have pald due regard to guidance Issued by the Charity Commission in deciding what activities th8 Springfield Project should undertake. Achlovements and performance Significant activities and achievèm8nts against objectffts Who we are and what we dld th1$ year The Springfield Project was established by St Christopher's Church to help show God's love in our community through practical service and action in Bimiingham. Our area stretches beyond the church parish and now covers a much wider area wtthin the Hall Green district of Birmingham. In addition to our rnain site at The Sprtngfield Centre, we run a Nursery on nearby Park Road and deliver a range of activities in outreach venues. In 2024125 we had an income over £1.7m, employed an average of 59 people, and were supported by over 75 volunteers. This year, our volunteers contributed 2.318 hours - the equivalent of 64 working weeks and a value of £27,843 representing an extraordinary gift of time, care and support that direclly enriched the lives of local families. Our Chlldren's Centre service includes support for families wtth children from pregnancy to the age of 5. This includes targeted family support and group and 1-1 support packages around= parenting. healthy families. ante-natal care and infant feeding, speech and language development. stay and play and much more. In April 2024, we became one of the Binningham Family Hub sites. Family Hubs offer in-person. virtual, and outreach services within the cornrnunity. These hubs provide various sUPPOrt services for families wilh children from birth to age 19 (or up to 25 for those wlth Special Educational Needs or Disabilities {SEND) through a multi-agency partner neork. Services include help for domestic abuse. SEND support. and housing advice. This year the totsl number of parents and Chlldren who were seen and benefited from Springfield's Children's Centre was 1.871 (748 adults and 1.123 children). Our nursery provision continues to provide early education to the children of Springfield. All of our nursery children attend for 15 or 30 hours per week. tem-time only, wtth fvnding from Early Edueation Entitlement grants. Both nurseries provide tailored support to a number of children with complex special needs and disabilities. Both nurseries receive an Ofsted grading of Good in 2022. Mini-springers Nursery provided eady education for 93 children during Ihe school year and Park Road Nursery welcomed 71 children. Mini Springers Nursery introduced several new programmes. including: The Eady talk Boost programme, The Brilliant Brushers programme and the Bright Beginnings programme. We expanded the number of places available for children with Special Educalion Needs and Disabilities (SEND) al Park Road Nursery, reflecting our strong commitment to the belief that every child should be able to reach their fvll potential. Our Community Seryices provision for adults includes English language classes and Place of Welcome. 135 people participated in the English classes. The programme continues to focus on embedding health and wellbeing messages. 247 pèople atlended Place of Welcom6.
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 This year we launched a new partnership with Central England Law Centre providing free legal advice drop-ln sessions at Place of Welcome. This helped 108 people to improve their incorne through advice on welfare benefits. housing, and other legal issues. These sessions achieved a tolal annualised incom8 of £156,489, an average of £1.449 per dient. The Seedlings Stay and Play group. runs In partnership with St Christopher's Church. In the last 12 months 627 children attended Seedlings with their parentslcarers, with 277 new children joining during the year. We saw an average of 24 children per session. This year our 'Child Friendly Neighbourhood, init18tive. funded by a National Lottery Reaching Communities grant, entered its third year. offering children and young people a broad range of experiences that were informed and designed by the young people themselve5. Through the funding we have Created a range of dubs. activities, events and playschemes. We launched Sunshine Club, a Salurday group for Children with special educational needs and disabilities. Butterfties. a stsy and play group for children with additional needs supported 32 children and Iheir families. Thanks to funding from the Holiday Activity Fund we ran Holiday Play activities three times during the year. 170 children aged 5 -11 accessed sessions of our fvn, stimulating play provision at The Springfield Centre and the Park Road site. Building on the success of the Chlld Friendly Neighbourhood programme. our Heritage project. Sparkhill - A Child's Eye View. funded by The National Lottery Heritage Fund, connects chIldn with Ihe history of their neighbouthood Ihrough a child friendly lens. 112 ¢hildren have participated in a variety of events. Launched this year. the Building Greener Communities project is a 3-year initiative led by ecoBimiingham and funded by the National Lottery Community Fund. It will support The Springffield Project to embed environmental sustainability across our projects and services. In the last 12 months we engaged 355 people through 28 community events. We launched our Growing up Green festival vthich was attended by 600 adults and children. We continue to chair the Birmingham Earfy Years Music Consortium and to act aslgad organisation for the Youth Music-funded Sounds of Play ProJect, building a sustainable neOrk of Early Years music practice betsveen Earty Years service5 and music organisations to support children's musical entitlement across Birmingham. We welcomed back the Creative Families festival which took place over Iwo days and saw 365 people attending. Our Founder St Christopher's Church was the founder of the Springfield Project and operated many of the activities prior to transferring them to a charitable company in 2008. The Church continues to provide a range of support for the charity. such as trustees, buildings for Ihe charity to OP8rate out of. volunteers and helpers for regular activities. and prayer for our work and those we work with. Flnanclal revlew Total income for the year was £1,700,205 and total expenditure was £1.577.629. The Project showed a surplus for the year of£122.576. Totsl reserves for the year stood at £791.600 ofvthich £525,400 was unrestricted (with sorne designation) Reserves policy It Is the policy of the Springfield Project that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to beeen three and SIX month's expenditure. The Trustees conslder that reserves at this level will ensure that. in the event of a significant drop in funding. they will be able to continue the Springfield Project's current activities while consideration is given to ways in which addillonal funds may be raised. This level of reserves has been maintained throughout the year.
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 It is Ihe policy of the charity to maintsin free reserves equivalent to al least 3 months, expenditu In thè event that Springfield loses one or more contracts. £250.000 is an estimate of the costs reqUId to eilher keep the charity operational while securing naw contracts or to close the proJect if necessary. Principal fvnding sources The principal source of funding continues to be the Children's Centre grants. total £703.637 plus Nursery Education Funding of£591,631. In addition, a number of other grants were received in Ihe year. Risk Management The Board of Trustees maintains a risk gister. which is reviewed regularly and systems put In place to mitigate risks identified. Intemal risks are minimised by the implementation of effective internal control procedures and good supervision of all activities of The Springfield Project. Our ReseNes Policy fOS part of our risk management strategy. The Project is diligent in ensuring its safeguarding policy and procedures are followed and the policy is reviewed annually by the trustees. A trustee has been appointed as Safeguarding Trustee. Criminal records checks are carried out for all slaff and volunteers. including trustees. through the Disclosure and Barring Setvice at the beginning of their seNice and repeated every three years. Plans for futurg perlods The funding for our Children's Centre service is now In place until February 2027. A review of the Chlldren's Centre model has been undertaken to ensure the service can be delivered suslainably. The running costs of all our services continues to be higher than previous years due to the ongoing high inflation levels. We continually review the services to ensure they are running as efficiently as possible. It is the practice of the trustees to designate some of their fe reserves for specific costs outside of nomial budget provision. They are to allow for Ihree months running costs should funding no longer be available. emergency repairs and provision for tribunals should it be necessary, and other small areas of development. We will continue to pursue our strategic plan until March 2026 whilst remaining flexible and adapting to new opportunities and the exlemal environmenl. Koy areas for the year 2&26 are- Improve oversight and systems for Comms and MaTketing Preparation for re-tendering of 0-5 Children's Centre and 0-19 Family Hub service Sustain and further develop Sparkhill Child Friendly Neighbourhood programme Promotion of Child Friendly Neighbourhood model Develop strategic plan for new Ihriving neighbourhood. offer and more adult-focused work based on learning from Child Friendly Neighbourhood programme Review and refresh of the relationship between the Church and the Project structure, governancè and management The Springfield Project is an award-winning charitable company limited by guarantee, incorporated on May 1st 2008, and registered as a charity on March 161h 2010. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is govemed under its Article5 of Association. These were revised in 2018 to provid8 for increased clarlty.
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees. who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were.. H C Greenwood Mr Timothy Boyes (Chair ofTrustees) F Cross Sudworth P J Hunt (freasurer) A Roper Hall Rev T Thomas C L Minchin Hiba Salman Fahiza Begurn Mark Zakers Yasser Khan (Appointed 24 February 2025) (Appointed 23 September 2024) (Appointed 3 June 2024) (Appolnted 3 June 2024) Recruitment and appointment of tmstees The Springfield Project is overseen by a board of tfustees. All trustees are selected according to their skill set and the requirements of the organisation and business plan, and according to their shared commitment to the overall aims. values and chaiitable objects of the Springfield project. This year we have welcomed two young trustees to our Board and have chosen to restrict tNstee posts lo young people in future. This helps us lo ensure that the voices of young people from our community are heard at all levels of the organisation and supports young people to develop as future leaders. In addition we welcomed new adult trustees who have brought new skills and experience to our Board. The increased diversity of our Board strengthens our capacity to understand and respond to the needs of our community. Our Chair Tim Boyes is supported by Vice-chair Rev Tom Thomas. Peter Hunt chairs our Finance Committee, ison Roper-Hall our HR and Organisational Development Committee. and Tom Thomas our Performance and Impact Committees. The Board of Trustees met four times during the year with an additional strategic away day. Each Committee also meets four times during the year. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of tho company and guarantee to contribute £1 in the event of a winding up. Management Whilst the day-trFday management of The Springfield Projed is delegated to the Chief Execulive Officer and staff. the Board of Trustees retains Ihe responsibility (legal and financiall for the affairs of the Project and for aclivities carried out in its name. The CEO receives support from TTUStees and reports directly to the Trustees every quarter. The Executive and Senior Leadership Team continued to be focused on reporting and delivering against the business plan objectives and to developing new projects to meet the needs of the ¢ommunty and to safeguard levels of income. Funds held as custodian trustee The charfty ha5 not held any fijnds during the year on behalf of others. Auditor In accordance with the companls articles, a resolution proposing that Thomas and Young Limited be reappointed as auditor of the company will be put at a General Meeting.
THE SPRINGFIELD PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustses report was approved by the Board of Trustees. Mr Timothy Boyes (Chair o Tnjstees) P J Hunt {Treasurer) 29 11 25
THE SPRINGFIELD PROJECT STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees. who are also the directors of The Springfield Project for the purpose of company18w. are responsible for preparing the Trustees Report and the financial statements In accordance wlth appIlble law and United Kingdom A¢counting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financlal yèar whlch glve a true and falr V18w of the stale of affairs of the Springfield Project and of the incoming resources and application of resources. Including the income and expendlture, of the charftable company for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently- - observe the methods and pr5nciples in the Charities SORP; make judgements and estimates that are reasonable and prudent., slale whether applicable UK Accounting Standards have been followed, subject to any material d8partures 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 Springfield Project will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Springfield Project and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Springfield Projed and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. In so far as the trustees are aware- - There is no relevant audit information of which the charitable company's auditors are unaware., and The tNstees have taken all steps Ihat they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the audilors are aware of that infomiation.
THE SPRINGFIELD PROJECT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SPRINGFIELD PROJECT Opinion We have audited the financial slatements of The Springfield Project (the 'Springfield Project,) for the year ended 31 March 2025 which comprise Ihe slatement of financial activities. the balance sheet, the statement of cash flows and notes to the financial statements. induding significant accounting policies. The finan¢ial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland (United Kingdom GenerallyAccepted Accounting Practice). In our opinion. the financial ststements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of Its incoming resources and application of resources, for the year then ended: have been propedy prepared in accordance wilh United Kingdom Generally Accèpted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with Intemational Standards on Audtting {UKI (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audrfoffs responsibilities for the audit of the financial statements section of our report. We are independent of the Springfield Project in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relaling to going concern In auditing the financial statements, we have concluded that the Trustees use of the golng COnM basis of accounting in the preparation of the financial statements is appropriate. 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 Springfield Project's ability to continue as a going concem lor a period of at least e1ve months from when the financial statements are authorised for 155ue. Our responsibilities and the responsibilitles of the Trustees with respect to going concem are described in the relevant sections of this reporL Other Infomiation The other infomation Comprises the infomiation included in the annual report other than the financial statements and our audiloffs report thereon. The Trustees are responsible for the other inlomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and we do nol exp$$ any form of assurance conclusion thereon. 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 course of the audit, or otherwise appears to be materially rnis5taled. If we identify such material incon515tencies or apparent material misstaiements, we are required to detemiine whether this gives rise to a material misstatement in the financial stalements themselves. If, based on the work we havg performed, we conclude that there is a material misslatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters in relation to vthich the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion.. the information given in the financial statements is inconslstent in any materlal respect with the Trustees report; or sufficient accounting records hav8 not been kept,. or the financial statements are not in agreement with the accounting records., or we have not reiVed all the infomiation and explanations we require for our audit. 10-
THE SPRINGFIELD PROJECT INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF THE SPRINGFIELD PROJECT Re5ponslbllitles of Trustees As explained more fully in Ihe statement of Trusiees responsibilities. the Trustees. who are also the director5 of the Springfield Project for the purpose of company law, are responsible for the preparalion of the financial statements and for being satisfied that they give a true and fair vlew. and for such internal control as the Trustees detemiine is necessary lo enable the preparation of financial stslements that are free from material misstatemen[ whether due to fraud or error. In pparIng the financial statements, the Twstees are responsible for assessing the Springfield Project's ability to Continue as a going concern. disclosing, as applicable, mallers related to going concem and using the going concern basis of accounting unless the Trustees either intend io liquidale the charitable company or to cease operations, or have no realistic alternatlve but to do so. Auditorfs responslblllties for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and r8POrt in accordance wth the Act and relevant regulations made or havlng effect therèunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whelher due lo fraud or error, and to issue an auditols report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance wilh 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. The extent lo which our procedures are capable of detecting Irregularities, induding fraud, is detailed below. 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 whlch our procedures are capable of detecting irregularities, including fraud is detailed below: Assessment of the susceptibility of the charity's financial statements to material misstatement. including how fraud might occur. Assessment of the laws and regulations identified as being of slgnificance In the context of the charity. We obtained an understanding of the legal and regulatory framework applicable to the charity and how the charity is complying with that framework. We obtained an understanding of th8 charity's poli¢ies and procedures on compliance with laws and regulations. in¢luding documentsllon of any instances of non-compliance. We obtained an understanding of the charity's policies and procedures on fraud risks. including knowledge of any actuai. susp&cted or alloged fraud. We ensured that our audit personnel have the experience and knowledge to identify or recognise non- compliance with laws and regulations. We use appropriate audil resources and tools to guide us in selecting the right audit approach. As a result of these procedures. we have considered the opportunilies and incentives that may exist within the organisation for fraud and identified the highest area of risk to be In relalton to income recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAS (UK) we are also required to perfomi specific protsdure5 to respond to the risk of management override. 11
THE SPRINGFIELD PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SPRINGFIELD PROJECT Our procedure5 to resFiond to rfsks Identified included the following: Reviewing the financial slatement disclosures and testing to supporting d0ments110n to assess compliance with provisions of relevant laws and regulations described as having a direct effe on the financial statements. Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Reviewing board meeting minutes. Enquiring of management in relation to actual and potential claims or litigations. Performing detailed transactional testing in relation lo the recognition of income, with a particular focus around year-end cut off. In addressing the risk of fraud through management override of controls. testing the appropriateness of journal entries and other adjustments: assessing whelher the judgments made in accounting estimates are Indicative of potential bias; and evaluating the business rationale of significant transactions that a unusual or outside the normal course of business. We communicated Identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit. A5 a result of the inherent limitations of an audit, there Is a risk that not all irregularities, including a material misstatement in financial statements or non-compliance with regulation, will be detected by us. The risk inGreases the further removed compliance with a law and regulation is from the events and transactions reflected in the financial statements. given we will be less likely to be aware of it. or should the irregularity occur as a result of fraud rather than a oneryoff error, as this may involve intentional concealment, forgery. collusion. omission or mi$repSentatlon. A fijrther description of our responsibilities is available on the Financial Reporting Council's website at.. httpsjl www.frc.org.uklaudit0rs$pQnslb1lItie$. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitys trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perrnitted by law. we do not accept or assume responsibility to anyone other than the charity and the charitys trustees as a body, for our audit work, for this report. or for the opinions we have formed. Mark McLean FCA (Senior Statutory Audltor) For and on behalf of Thomas and Young Limited, StatutoryAuditor Chartered Accountants Carfeton House 266-268 Strafford Road Shidey Solihull B90 3AD Date: . Thomas and Young Limited is eligible for appointrnent as auditor of the Springfield Prolect by virtue of its eliglbS1Ity for appointment as audltor of a company under secllon 1212 of the Cornpanies Act 2006. 12-
THE SPRINGFIELD PROJECT STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlctad Rostricted funds funds 2025 2025 Total Unra$trl¢tod Rostricted fund$ funds 2024 2024 Total 2025 2024 Notes In¢ome from: Donations and legacles Charitable activities Investments 34,710 748,250 3,234 34,710 914.011 1.662.261 3.234 3,540 676.120 349 3.540 773.199 1.449,319 349 Total Income 786,194 914,011 1.700,205 680,009 773.199 1,453.208 Expenditure on: Charitable activities 660,802 916,827 1,577.629 553.182 891,138 1,444,320 Total expendituro 660.802 916.827 1.577.629 553,182 891.138 1,444.320 Net Incomel{expendlture) 125,392 (2,816) 122.576 126.827 (117.939) 8,888 Transfers betAveen funds (47,707) 47,707 Net movemont In funds 77.685 44.891 122,576 126,827 (117,939) 8,888 Reconciliation of funds: Fund balances at 1 April 2024 447,715 221,309 669.024 320.888 339.248 660,136 Fund balances at 31 March 2025 525,400 266,200 791.600 447.715 221.309 66g.024 The statement of financial activities Includes all 9ains and losses recognised in the year. All incom8 and expenditure derive from continuing activities. 13-
THE SPRINGFIELD PROJECT BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notos Current assets Debtors Cash at bank and in hand 12 105,825 736,854 201,515 517,226 842,679 718,741 Creditors: amounts falling duo wtthln one year 13 (51,079) (49,717) Not current assèts 791,600 669,024 The funds of the Springfield ProJe¢t Restricted income fund$ Unrestri¢ted funds 15 16 266.200 525.400 221.309 447.715 791.600 669,024 The company is entiUed to the exemplion from Ihe audit requirement contained in Seclion 477 of the Companies Act 2006. for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006. for the year in question in accordance with section 476. However, an audit is required in accordance viith section 144 of the Charities Act 2011. The Trustees acknowledge their sponSIbl[1t1eS for comptying with Ihe requlrements of the Act with respect to accounting records and preparation of financial stalements. These financial statements have been prepared in accordance with the provisions appli¢able to companies subject to the small companies regime. The financial statements were approved by the TTUSteès on ............. ...... .... Mr Tlmolhy Boyes (Cha of Trustee5) Company reglslrallon number 06582318 (England and Wales) 14-
THE SPRINGFIELD PROJECT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash Ilows from operating actlvltIes Cash generated froml(absorbed by) operations 20 216,394 (143.259) Investlng activities Investment income received 3,234 349 Net cash generated from investing actlvltles 3.234 349 Net cash generated from Ilnan¢lng activities Net increasel(decreaso) in cash and cash equivalents 219.628 (142,910) Cash and cash equivalents at beginning of year 517.226 660.136 Cash and cash equlvalents at end of year 736.854 517,226 15-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Charlty Information The Springfield Project Is a private company limited by guarantee incorporated in England and Wales. The registered office is The Springfield C6ntr8, Springfield Road, Moseley, Birmingham. B13 9NY. 1.1 Basis of preparation The financial statements have been prepared in accordance with the Springfield Projecvs goveming document. the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP '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)". The Springfield Project is Public Benefit Entity as defined by FRS 102. The financial statements are prepared In sterling, which is the fijnctional currency of the Springfield Project. Monetary amounts in these financial statements are rounded to Ihe nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements. the Trustees have a reasonable expectation that the Springfield Project has adequate resources to continue in operational existenc8 for the foreseeable future. Thus the Trustees continue to adopt the going ¢on¢ern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to spe¢Tfi¢ ¢onditions by donors or grantor5 as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to Ihe financial statements. Endowment funds are subject to specific conditions by donors that the Capital must be maintained by the Springfield Project. 1.4 Income Income is recognised when the Springfield Project is legally entitled to tt after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on ceIpt. Other donations are recognised once the Springfield Project has been notified of the donation. unless performance conditions require deferral of Ihe amounL Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otheNAse If Ihe Springffield Project has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a contlngent asseL 16-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Contlnued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obllgallon to transfer economic benefit to third party. 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 classlfied by acttvity- The costs of each activity are made up of Ihe total of direct costs and shared costs, including support costs involved in undertaking each activity. D1ct costs attributable to a single activity are allocated directly to that activty. Shared costs which contribute to more than one activity and SUPFK)rt costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the assevs use. 1.6 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call wlth banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Flnanclal Instruments The Springfield Project has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '01her Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Springfield Projecvs balan sheet when the Springfield Project becomes paty to the contractual provisions of the instrument. Financial assets and Ilabilities are offset, with the net amounts presented in the financial slatements. when Ihere is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial as$ots Basic financial assets. which include debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction Is measured at the present value of the future receipts discounted at a market rate of intsresl. Financial assets lassified as receivable within one year are not amortised. Baslc finan¢lal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future paymenls discounted at a market rate of interest Financial liabilities classlfied as payable within one year are not amortlsed. Debt instruments are subsequently carri8d at amortised Cost. using the effective interest rale method. Trade creditors are obligations to pay ft)r goods or services that have been acqulred in *he ordinary course of operations from suppliers. Amounts payable aro classified as current liabilities rf payment 15 due within one year or less. If not, they are presenled a5 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective inlerest method. Derecognltlon of ffnanclal liabilities Financial liabilities are derecognised when the Springfield Projecys contractual obligations explre or are discharged or cancelled. 17-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Contlnued) 1.8 Employoe benefits The cost of any unused holiday entitlement is recognised in the period in whlch the employee's semces are received. Termination benefits are re¢ognised immedialely as an expense when the Springfield Project is demon51rably committed to temiinate the employment of an employee or to provide termination benefits. 1.9 Retlrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and Judgements In the application of the Springffeld Proje¢Vs accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual resul*s may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects bolh Current and future periods. Income from donations and legacles Unrestricted Unrestrlcted funds funds 2025 2024 Donalions and gifts Grants 6,217 28,493 3.540 34.710 3,540 18-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Incorne from charitable actlvltles Unrestrlcted Reslri¢ted funds funds 2025 2025 Total Unrestricted Restri¢ted lunds funds 2024 2024 Total 2025 2024 Sprlngfield Project activlties Community Services Children's Centr8 SeNi¢es Grants Services Park Road Mini Springers Other income 1,766 1,766 92,258 17.842 110.100 699.873 86.999 126,726 699.873 86.999 126,726 346,741 383,954 16.202 693.874 50.629 10.854 693,874 50,629 10,854 226,616 357.246 346,741 383,954 15,789 226,616 357,246 413 748.250 914.011 1,662,261 676.120 773.199 1.449,319 In¢ome from invgstrnents Unrestrlcted Unrestrlcted funds funds 2025 2024 Interest receivable 3.234 349 19-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Exponditure on charflable actlvltles Springfield Sprlngfleld Project Project activities activities 2025 2024 Dlrect Costs Staff costs Rent l Outreach Resources Sundry Growing up Green HolidayActivity Fund Faith Action Birmingham Children's Trust Domestic abuse & Freedom Programme Heritage Fund Children's Cenl Youth Music 928,505 873,346 6,008 126,627 43,570 9,401 6.315 5,652 390 32 3.629 1,800 16,125 61,912 1.077.331 1.005,981 Share of support and governan¢e cosls (see note 7) Support Govemance 480,318 19,980 415,406 22,933 1.577.629 1.444,320 Analysls by fund Unrestricted funds Restricted funds 660,802 916.827 553.182 891,138 1.577.629 1,444.320 Support costs allocatsd to activitles 2025 2024 Staff costs Premises costs Office costs Recrullment & tralning Business team Governance costs 255.646 103,390 89,628 31.654 248,799 45.809 80,109 37,525 3.164 22.933 19,980 500.298 438,339 Analysed between: Springfield Project activities 500,298 438.339 -20-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movoment In funds 2025 2024 The net movement in funds is ststed after chargingl(creditingl'. Fees payable for the audlt of the charitys financial statements 8.500 14,000 Trustees None of the Trustees (or any persons connected wlh them) recelved any remuneration or beneffts from the Springfield Projeci during the year. 10 Employèes The average monthly number of ernployees during the year was: 2025 Number 2024 Number Support {Busin8ss Team) Seedling$ Park Road Nursery Mini-springers Nursery Community Services BFS Children Centre 11 12 11 15 14 15 19 Total 59 59 Employment costs 2025 2024 Wages and salarfes Social security costs other pension costs 1.106.333 61,045 16,773 1,027.468 70.640 24,037 1.184.151 1,122.145 There We no employees whose annual remuneration was more than £60.000. 11 Taxatlon The charity is exempt from taxation on its activities because all ils income is applied for charflable purposes. 21
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Debtors 2025 2024 Amounts falling due withln one year: Trade debtors Other debtors Prepayments and accrued income 29.135 9,200 67,490 36.885 4,000 160,630 105.825 201.515 13 Creditors: amounls falllng due wllhln one year 2025 2024 Trade creditors Other creditors Accruals and deferred incomè 21,426 20,736 1,768 27,213 29,653 51.079 49,717 14 Retlrement beneflt schemes 2025 2024 Defined contribution schemes Charge to profil or loss in respect of defined contribution schemes 16,773 24.037 The Springfield Project operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from Ihose of the Springfield Project in an independently administered fund.
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Restricted funds The restricted funds of Ihe charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incomlng resources Resources expended Transfers At 31 March 2025 BCHC (Children Centre) National LiteraGy Trust Awards forAII The National Lottery Community Fund Youth Music ecoBimiingham (Building Greener Communities) Birmingham Childrens Trust {BCT) Faith Action Stage Coach Group HolidayActivity Fund Seedlings and buttefflies Garfield Weston Grimmit Trust {CFN) BCC (Freedorn) West Midlands Police (CFN) The National Lottery (Hertiage Fund) Place ofwelcome 699.873 (662,393) (6231 (2.083) 47.707 85,187 623 2,083 179.427 20.791 631 105,000 (88,277) (67.3121 91.781 58,479 14.320 {11,317) 3.003 82 5,201 (82) (8.506) {1.000) (23,657) (15.000) {15.0001 3,305 1,000 2,781 20.876 15,000 15,000 2.500 2.500 139 3.983 11.299 (11,160) (17) 4,000 25.878 5.650 (4,750) (5,650) 21.128 221,309 914.011 {916.827) 47,707 266,200
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Reslrfcted funds (Contlnued) Prevlous year: At 1 April 2023 Incoming Resources resour¢es expended Transfers At 31 March 2024 BCHC (Children Centre) National Literacy Trust Awards for All The National Lottery Community Fund Youth Music B'ham City Council Focus Group Emergrency Food Grant B'ham & Solihull Women's Aid Faith Action stage Coach Group Yardley Great Trust Holiday Activity Fund Beyond B'ham Blossom Project Sparkbrook Children Zone St. Paul's Volunteering Support Childrens and Young Persons (incl. domesli¢ abuse) 656,220 (656.220) 623 3,248 623 2.083 (1,165) 258.706 49.925 (79,279) (29,134) 179,427 20.791 3.470 15,571 10.854 7,500 1.000 (3.470) {15.5711 (24,184) (4.195) 13.330 3,305 1,000 10.819 2.597 (10.819) {30,503) (10,000) (350) (1.867) (1.147) 30,687 10,000 350 1.867 1.147 2,781 35,698 (24,399) 11,299 339,248 773.199 (891.138) 221.309 -24-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Restrfcted funds (Contlnued) Unrestricted funds of £47.707 have been transferred to restricted funds to cover the deficit on the Chlldren centre for 25-26 and 26-27. Restricted funds are utilised for the following purposes: Chlldren's Centre - Contract wns to Feb 2027. National literacy trust- to support speech and language resources. Awards for all & Faith Action- to support the delivery of English classes The National Lottery Community Fund- to support the Child Friendly Neighbourhood (CFN) Project. Youth Music (Sounds of Play) - This money is to support the development of musical teaching ability in Early Year5 fronuine delivery staff so they can use music with children. We are primary fund holders for this. A grant awarded to Springfield as leading partner. ecoBirmingham (Building Greener Communities) project is a 3-year initiative led by ec0-BIlnghaM and funded by the National Lottery Community Fund. stage coach group- to support debt advice service from Narthex. HolidayActivity Fund - to support the delivery of holiday playschemes. Seedlings and butterf]ies- to support our stay and play groups. Garfield Weston- to support core costs of The Springfield Project. BCC {Freedom)- help for DomesticAbuse. Grimmit Trust (CFN) & West Midlands Police {CFN) are part of 'Child Friendly Neighbourhood, Programme, funded by National Lottery Reaching Communities grant, offers children and young people a broad range of experiences. The National Lottery (Heritage Fund) to undertake trips for children to Heritage sites and engage young people. To connect children with the history of their neighbourhood through a child friendly lens. Place of welcome- to support the running of Place of Welcome. -25-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Unrestricted funds The unrestricted fijnds ofthe charity comprise the unexpended balances of donations and granis which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated fijnds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2024 Incoming resources Resources expended Transfers Al 31 March 2025 Youth I Special Education Needs English Classes and Forest School Premises Repairs & Leglon8lla actions Human Resources Reserves - Children Centre Reserves- MS Garden Work Reserves- Other5 Saturday Opening Reserve CFN Salary Cost Fundraising and Comms Support General funds 10.893 2,232 13,125 4,804 4,295 (4,804) 4.295 20.000 30.000 50,568 4,623 24.623 30.000 2.861 15,065 96,622 13.000 10,000 (47.707) 15.065 93,489 13.000 10.000 20.150 (17.017) 27,295 616.195 27,295 288.514 311,300 (638,981) 447.715 786,194 {660.802) (47,707) 525,400 Prevlous year. At 1 Aprll 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 320.888 680.009 (553.182) 447.715 The deslgnated funds above have been combined for presentation purposes. The breakdown is as follows. £4.295 relates to English Classe5. Breakdown of Reserves- Others.. . £91.866 are Reserves for Nurseries. £1,623 is the Surplus from Seedlings. £3.133 Is the reserve relating to Nursery SEND. -26-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Analysls of net assets between funds Unrestrtcted fund5 2025 Reslricted funds 2025 Total 2025 At 31 March 2025.. Current assetsl(Ilabilities) 525,400 266.200 791,600 525.400 266.200 791.600 Unrestrl¢ted funds 2024 Restrlcted fLtnds 2024 Total 2024 At 31 March 2024: Current asse{lIabIlIties} 447,715 221,309 669.024 447,715 221,309 669,024 18 Operatlng lease commltments Lessee At the reporting end date the Springfield Projed had outstanding commilments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2025 2024 Wilhln one year Beeen Iwo and five years 8.109 16,557 9.783 24.249 24.666 34,032 19 Related party transactlons The Charity has a close relationshlp with St Chrlslophes Church by ason of I0 Trustees (A Roper- Hall and T Thomas} who serve on both Boards. There are a number of transactions involving the Church either way, by contributions from the Church towards specific project costs, or for shared occupancy and administration costs. In addition the Charity makes payments to the Church in respect of use of premises. During the year total contributions received from St. Christopherfs Church totaled £9.222 (2024: £10,464) and total payments made to the Church totaled £5.198 (2024.. £3,722). At the year-end there was a balance of £2.390 (2024: £2.238) owed by the Church, and a balance of £Nil (2024.. £Nil) owed to the Church. -27-
THE SPRINGFIELD PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Cash generated froml(absorbed by) operations 2025 2024 Surplus for the year 122,576 8.888 Adjustments for: Inveslment income recognised in stalement of financial activities (3.234) (349) Movements In worklng capital: Decreasel(increase) in debtors Increase in creditors 95,690 1.362 (201,515) 49,717 Cash generated froml(absorbed by) operatlons 216,394 (143.259) 21 Analysis of changes In net funds The Springfield Project had no material debt during the year,