SPRINGFIELD, MOTOR RACING'S CLUB FOR YOUNG PEOPLE Financial Statements for the year ended 31 March 2025 Company Number 7558781 Charlty Number 1140951 Sprfngfiekl, Motor raarrfJ's aub for Young Pet Index to the Financial Ststements for the period ended 31 March 2025 Trustees and Professlonal AAlv19Y5 Trustee's Report Independent Examlners Report ststemert of Flnanclal Artlvbtles Income and Expenditure PAxwnt Balan￿ Sheet io Note5 to the finarKial ststements li Page 1 Springfield, Motor ￿ing'S aub for Young Pecple Trustees and Professlonal thscKs For the year ended 31 Marth 2025 The DIr￿r$ of the company and Trustees of the Charfty durfng the year were: P Stewart . M Kec*Jh* S Hers1* S Hertert* N Newton. resigned on 16 (ktober 2024 F Barrow E Queld)** ** Trustee Trustee only ¥* Company Reglstratlon Number: 7558781 Charfty Rwjlstratlon Number. 1140951 Bankers Cctroperative Bank plc PO Box 250 Delf House Southway, Skelmersdale WN8 6wr Rosser *ountsnts Ltd 43 Bridge ROJJ ays RM17 6 Solldtors Furley Page LLP Admirals l)ffice Maln Gate Road The Hlstorlc Ward Chatham Kent ME4 4T1 The Anthony Marsh BulldlrKJ g Hlll upper aapton Londc E5 9HH Page 2 Sprfngftekj, Mcknr ￿dng'S aub for Yourwj Pwpk Report of the tnjstees for the period ended 31 Marth 2025 The truth and dlrertor5 d Swingfield, Mctor Raclng's (Yub For YourNJ Pwple ("Swhtykl' or the 'Organisats"on') submit th￿r annual report and finan(ial slate[r￿ts ts the FerKvJ ended 31 March 2025. The trustees have ath)pted the prov￿OnS of the Statement of Recommended Pra￿￿ (SORP) ("Accwnting and Reporbng by Charities" iSSLd in 2005) in prepariThJ the annual report and finanaal statements of the Organisalion. The Organlsatlon Is a char6tsble company Ilmlw by guarantee and was eSta￿l$hed In March 2011 although the uninccryjrated entty whlch pr￿e￿ 6t was estsbllstr*d In the 1950's. Springfleld was istered as a charltable company limlted by guarantee C￿ 10 March 2011 the assets, Ilabllitie5 and undertaking of the uninccKwrated wtity referred to We￿ transferred into the Organi5ation on 31 March 2011. Sprlngneld Ls govemed by menmndum and artlcks rf associabon. Admlnlstratlw detsllj of the tharlty, Its trustau and •dvh•r4 Full detslls can be tsjnd page 2 cl thls 9JpplTh)L The trustees serrf&J durlng the year were: M Kecsh S Hersl S Herbert N Newton r*ned 16 Octcthr 2024 F Barrow E Quelth N(￿* of the trustees have ary benefloal interest In the c(xnpany. Page 3 Sprlngflekl, Motor rddng's aub for Yc4Jng P Report of the trustee5 Fty the year ended 31 Marth 2025- Contin￿￿ The Organisation i5 a company limited ty guarantee (No. 7558781) by its Memorandum and Ar￿cleS of Asscxlatlon, and was 1nc0rptya￿j on 10 Marth 2011. It Is also a registered charlty {No. 1140951) and was reglster&J wth the Charity commiss￿ on 16 March 2011. The Ckganisatlon Is govern&J by a board of 5 trustees vtho are memtws or volunteers with relevant skllls to oversee the Organlsatlon's artIv￿S whhth a￿ the operation of a dub fty Yc￿ng Fejple. The t#)ard acts a Management Commlttee to whom sone 10 vdunteets report thrcwh a aub Le&Jer whose resw)nslblllty It Is to deslgn and manage a kY(yJramme ￿ acuvlties whlch wovldes tr* maxlmum opwrtunlty to meet the Organlsakn's objthes. Objectfves Sprfngfield's objettlves a￿ to pr(Nlde Ume acljvlts ts w)ung p￿pIe to w¢Jnrte thdr personal and sodal educatlon so that tw may grow to full maturtty as lThJlvkluals and nEmbers of sodety and that thelr condlt1c￿S of Ilfe may be improved. The memttrs afe Y￿n9 p&4e tetween the ages of 10 and 16 Ilvlng In the ward of Sprlryfield In Hackrw, East Loncbn •thlvltlu and Perforn￿n(¢ Durlng the year under revth, the Organisation has provlded a rarwJe of ccwrses and activities fLY its membtts. These indude SFwts such as fcM)tball, other klsure activths 5wth as roller skating and a vartety of other struthjred athitie5 fadltstiTrJ instruction and relaxati￿ fty the youThJ p*e who partlclpate. The Organisation's premises in Sprir￿￿d Hackney are open m05t week day evenlngs durlng Sch1￿ tem time provkllng acce55 to I￿Sure facili￿e5 indudlng tsble football. a urymnaslum and Intemet and coMW￿n9 re￿￿r￿. The Oryanls*lon endeavours to njn an annual summer activ course durlng the sthool htyltdays, smietlmes at a rurdl or swide hxatkn offerlng manbets the opportunty to enjoy a communty ejw1en￿ away frcffi their Lwal Inner Lc*bdon environment. P￿84 Springfidd, Motor radng's aub kn YrMJrvJ P Report of the trustees For the year ended 31 Marth 2025 - Continued Flnanclal Revlew Sprfngfldd's directr)rs arKI trustees manage cryanlsatlon's actlth ￿ a pNdent finandal bas& The Organisation al￿8 to apply re9)urces in ary C￿e fina￿￿al year o]UNalent to ￿ less than tr Incoming resources available ft)r applicatk)n from tts Genernl Unrestrirt￿ Fu￿. However the OrganisaUon aims to maxlmlse the extent to which it can provth L*neffts to young Fecf*le tret partlcipate in Its artlvFt5es and wlll appty resour￿ in excess of Inccfflirg resour￿ whe￿, In the nlon of the Tru*ees and d*ert(M5 thls Is mtsltaj In ary gr4en fina￿la1 per￿. Plam for th¢ futs ngfleld con¥nues to wlden and bry>ade￿ its current events progrnrmie offeral to mertas of the dub. Page 5 springr￿ld, Motor raar¥J's aub for Yourwj p￿ Re￿rt of the tn￿tee$ Ft* the year eThJed 31 MaKth 2025. C(m￿nUed Company law rquires ￿ tr￿e5 to prepare ffin&￿1 Statem￿ for eath financial year whith gfve a true and fair of the state of the affair5 c* the tharty as at the IJalan￿ sheet (L3te aThJ of Its IncomlrKJ reY￿rceS, . including income and eXp￿rtUre, lor the flnamial year. In prepariry these flnancial stateTr￿nts. the tru are wulreA to: . select SUita￿e ￿c￿nti￿ wlioes and appty co￿sten￿. - make Judgements al￿ estbmates that are re39)naile and Pr￿lent. . prepare the finarrial statements on the going concem basi5 unless it is iiakyDprwts to awme that t￿ tharty w511 t￿￿nue In opwakn. The trustee5 are reSp￿￿ble tr malntalnlr4J prw accryjnfjng rwds th* dlsdc6e wth reasonable accurncy at any Yme the flnanclal p￿n cl the charlty arKI to enalJe them to ersjre that the flnancial statemerts comply ￿th the Companks kt 2CI]6. Tlw are aLw rw51ble for safeguardir@ the assets of the charity and her￿ for tsklng reasonable stqjs for the weftntion and d*ectlon of fraud and other Irregularlties. Thts rep)rt has prepared k) x£Ordan￿ wlth the sp*Jal Part IS of the Companks kt 2tsJ6 relatlng to srro11 conyjnies. Approv8J ty the tn￿tee5 and on thelr ithalr.. Try•tee l Dlrertor Sjld H•rnl D•t•: 29 D•c•mb•r 2025 Page 6 Independent examlnee$ report to tho trustees of Sprlngflald. Motor Raclng8'8 Club for Young People I report pn the accounts of the company for the year ended 31 March 2025. which are set out on pages 8 to 15. R8spo¢tlve re8pon8lbllttlo8 ol tru81oe8 and •xamlner The trustees {who are also the directors of the ¢ompany for the purpose$ of company law) are rosponsible lor the preparation of the accourrts. The trustees consider that an audit is not roquired for this year under section 144{2} of the Chwilies Acl 2011 (the 2011 Act) and thai an Independent 8xarninalion is needed. l am quaiified to undertake the examinat￿￿. Having satisfied myself thal Ihe charlty Is not subj￿1 lo audlt uThY8r eornpany law alxl Is ollglble lor ind&p9ndenl examination, it is my responsibilty to= exarnlne the accounts under sectlon 145 of the 2011 Act; to follow the procedures laid down in the general Directions glvgn by the Charfty Commlsslon undèr section 145{5)Ibl ol the 2011 Act; and to state whgther particular matters have wne to my attention. Ba818 of IrKl•pondont oxamlnw'8 report My examination wa$ carrlod out in accorda￿ wlth the 98neral Directlons glven by tho Charfty Commlsslon. An examination includgs a review ol the accountlng records kept by the charlty arKI a comparlson of the accounts prosented with those re¢ord$. 11 also include8 considerats'on ol any unusual Item$ or disclosures in the accounts, and seeking explanations Irom you as truste88 ¢oncernlng any such matters. The proc8dures undertaken do not provide all the evidence that would be requlred in an audit and consequenlly no opinion is given as to whelher th? aGGounts present a 'Irue and fair vlew. and the rewrt is limited to those matters set out In the statement below. Ind•p•nd•nt •xamln•f• •lat•m•nl In connectlon wlth my oxamlnailon, no matter has come to my attentlon whlch glves me r8asonabl cause to believe that in any malerial respect the requirements: to keep accounting records in aeeordance with sectlon 388 of the Companies Act 2008; and to prepare accounts which accord wilh the accounting rfjcords. comply with the accountlng requirements of section 398 ol the Companies A¢t 2006 and with the methcrfls and prfnoiple8 of the Statement of Recommandod Practice.. Accounting and Reportlng by Charitios hav& not bgen met. Or to which, In my opinion. attention should be drawn In order lo onablo a prowr understarKllng ol the accounts to be reached. lan Swychèr FCA 43 Bridge Road Grays, Essex, RM17 6BU. 29kn Decembèr 2025 Page 7 SwIr￿￿￿, Mr*or ftarbj's aub ftyYtyJNJ Pec(4e statement of Hnandal N£tfvlde5 For the year eTrJed 31 Marth 2025 IL4r< Furbts FuTrJ Totsls 2025 2024 Donadons and grants 2243 2.243 Brcthure ￿ve￿lI¥j Lètting Ir*om• arltte5 Ald Canteffi sales 350 5,2 25.514 25,514 lJ31 iJ31 Dhhdends 14 14 1,332 Memtvs subxdptkj Tctsl IrKcffllrwJ r•sowce5 riet Incomlrrfj r￿urCeS béfore other rwnlsed yln5 42) (7.$42} 142,4651 Galn l (k6s) on revaluatkn of In 130 117 ,412 All the atove resuts are derfr￿d from aN1 hJs%es r*£¥Jnts*1 kn the y6yJxe Included abm. SprfrrfJfldd. l•ktor radng's aub for YcyJrKJ Pe(¥ I￿Ome and Expendlture knount For the yèar ended 31 March 2025 2025 2024 Income 29.088 15,018 Dlrert &ypenses 28,112 48,149 976 (33,131) mlnl*aOve exw 10,497 10,670 Opor•tlng Surpluj 19,521) (43,801) Dfvldends r￿fvab Interest r￿e1Vable Gain l {loss} on revaluayon of In￿t￿￿nt 14 1,332 117 130 Surplu• on ordlnary a¢tlvlUw b•forn taxatlon (7,412) 142,348) Tax on ordlnary athlues Surplus on ordlnary actl¥lUu after taxatlon All xfjvlues relate to Conbnl￿rYj actlvlves P&)8 9 Springfield, ￿ racirhj's aub for Young P Balan￿ Sheet AS AT 31 March 2025 2025 2024 Tanglble Flxed Assets 51,992 58,477 Debtor5 and Prepaymerts Investments Cath at Bank and In Ha￿1 2,189 515 128,135 2,116 385 123,491 io li Cr•dltoM amounts f4lllThJ due wlthln one ywr 12 Nrt ¢urr•nt a•Mts Totsl A•••ts L••• Cumint Llabllltl•• 170,697 178,109 Fun 13 Unr••trlcted Fun General Unrestrktrd FurKI Vllkirs Unrestricted FurKI 129,013 41,684 136,425 41,684 7ho company15 en￿t￿d to frun aLkif( ur*knSectkn 477 rfthe C￿￿5 PLt X&8 For the y wdgj 31 M¥th 2025 The nvrd)w5 ho%* nct requlrgj the ccryany to an axltrf#s fin￿ siartsiwts Fty erthj 31 Marth 2025 kn bl wer*irfNJ fln3￿￿1 stateM￿ts %thkh g￿e a f*r dthe cryany as at the flnarthl of Its profft or k66 fcf exh fin￿da1 yearkn ￿￿rda￿e *4th the r4L*unents 394 3gS aTrJ Oth￿￿12 compty Tnth l Dlr•Ltor S•ld Her81 Pwje 10 Sprlngneld, radng's aub for Ycdjng Notes to the flnandal a3ternents For the year end&J 31 March 202S l Bo$1$ of Prep?r¥Uon These nnancial statements have been prepared under the historical cost conventK)n and are in accordance wlth applicable accounting standards. and the Ststement of Recommended Prartite'Accountin8 for Ch8rfties' las revised Sn 2￿5) issued by the Charities Commission. The accounts have also been prepared In accordaThce with the requirementsofthe Companies Act 2(￿ and the CTharities Act 2011. 2 Accountlng Pollcles 2.1 Incorn• Donatlons and grants are recognlsed In the perlod In whl¢h they are recelved unless they are to be applled In a manner 5peclfled by the donor and repayable In the event that thè organisation fails to meet its obli8ation5 sn thls re8ard. Under suth drcumstances the 8rant or dona￿Ort Is rÈto8nised in tht period In which the or8anlsatlon meets the obllgatlons specified by the donor. Ad¥ertlsln8 Income Is reco8nlsed In the year In whlth the organlsatlon's •ftnual t¥othur¢ Is pub115hed In whlth the ath￿rttserfs athrttsment appears 2.2 Nature of Expenditure Dlrect charltable expendlture, coMpr￿e$ expendlture relatèd tt) the fvrtherance of the organlsatscffl5' oblectlves. Fundralslng and publldty costs relate to costs lrKUf￿d on s￿h actI￿lIeS. Governance and Admlnlstratlon cts5ts are those Incurred in connectlon w￿h the management of the organlsatlon, Its admlnlstratlon and in compllance with 5prln8field, Motor Rxin¥'s aub ForYoun8 People's con5tltutlono1 and statutory0￿*Satlons. 2.3.1 Treatment ol Flxed Asstts Onlyflxed assets atqLtlred art capttJ1154d Jt CQ5t. 2.3.2 Depreclatlon Motor vehlcle5 are depreclated at a rate of 25% per annum on the 5trattht Ilne basls. Offke equlpment Is depreclated at a rate of 20% perannurn on a reduced line basis. 2.4 Deslgnated Funds These are amounts whlth hwe been set asld• atthe dlscrntlon of trustees for a spedfic, but not le8al blndlng. purpose. 2.5 Investrnents Invèstments are Ir*luded In the atcounts at marketvalue. Any ￿n￿lISed galns or l¢sses¥r¢ recognlsed In the statement of finanoal activltses. Page11 Sprlngfield, Motor rdclng's aub fty y￿r￿j Pwple Note5 to the financial ststements for the perEod WKled 31 March 2025 Incomlng Resources . IndudeA within Incoming Resources are Grarts and D￿tiOrS from the fdlowing: 2025 2024 Bee aub Jack Petchey Foundation London Youth Others less than £l,O(Kl 1,250 4,400 3,000 16 8.666 H3 2,243 Charltsble Fundrai￿ng Governan￿ JKI Totals and Administrntion 2025 Publicity Totals 2024 Motor expenses Volunteers and actfvltles ex Salarles and wages Materlals Independent examinerfs rewl Estsblishment Costs Depreclatknn of flxed a 1,221 1,221 662 7,015 6,119 5,726 5,726 I,l(K+ 2,402 1,100 19,344 16,942 35,810 8,112 10,497 38,609 58,81 Emoluments 2025 2024 Wages and salarfes Soclal securlty costs 5,726 6,119 5,726 6,119 No employees eamed over £60,OIY) per annum. The average numb¥ of eMPkn￿ durfng year was: Page 12 ek1, M¢¢£* r4(ir4'5 (Jjb f¢f Y(uvJ P& Notesto the financw ststty for the peth 31 March 2025 Op*•Ung &wyW(Dolldt} )24 ThLs 155iat•J ats ch¥9irs'. mbtr rekn￿*¥￿ surdry dLshrnmMts In connectkn aTrJ AT I WI 2024 3,084 11790 510 34212 80.LW6 510 At 31 Marth 2025 AT I i•yU 2024 Ch￿e for v 9,437 714 91A6 21,609 4201 6.995 At 31 M•th 2025 15 369 28 fl)4 Net b￿k￿l￿•t 31 NJr¢h 2025 18 843 51 Net •¢ 31 Narth 2024 477 P490 13 Springfield, Motor rarjng's aub for Yourwj Notes to the fina￿al statements for the period 31 March 2025 2025 2024 Prepawnents and accrueAI Irthff 2,189 2,116 2,189 2,116 io 2025 2024 L(steAd Investments At l Aprfl 2024 iJtange In value of Invest At 31 March 2025 268 117 385 129 515 li Cash •t B•nk •nd In Hand 2025 2024 Short - Temi Deposlts Other Bank Accounts 115,213 12,922 120,247 3,244 128,135 123,491 The amounts held In restr1￿ aCC￿nts was Enll. 12 Credltors Amounts f•lllng wlthln one ywr 2025 2024 Short term loan Cr8lltors and accruals 3,500 8,634 3,500 2,860 12,1 6,360 Page 14 Sprlngfield, Motor radng's aub for Ywng Pw) Notes to the financi* ststements for the perk>J ended 31 March 2025 13 Genwal Illars 2025 At l Aprll 2024 Net MOvem￿t In Resources 136,425 {7,412) 41,684 178,109 (7,412) At 31 March 2025 129.013 41,684 170,697 Representèl by: Tanglble Flxed Assets Current Assets Current Llabllltles 51,992 89,155 (12,134) 51.992 130,839 (12,134) 41,684 129 013 170 697 Sprlngfiehj, Motor radng's aub for Ywng People reslricbj fvr#Js fj4yKr•l Unvegtrfcted Fund The g￿01 fund represents the net bHIan￿ of OrKo￿ arnl from mairtstream c￿rI￿ble and general furKI ralsing activltles Is appll&l gerw4ty In to acbrnrKe the d￿tta￿e of the organisatlon. Vlllars Unrestrlcted Fund The trustees have created a seperate fuThJ ulThJ cash rals&J from VHLars e￿It in 2010 which it is Intended wlll be applial towards sreafic Inltiatives whlch in the wnion of trl￿ wll help slgnificantly to develop the organi5abon in ￿kIItion to the set of charltsble acti￿tIeS undertaken using resources from the General Furnl. 14 Unreallsed Galns arKI Lasses The 5Jaety ha5 no unrealised garts LY Ios5e5 on in￿t assets or on fixed assets for tharfty w. 15 Emplcryers arnl third Forty liabilty insuran The organfsatlon Is insured agair* Ern￿OyerS Ltabilty in the gjm of £IO,OC(J,(KMI l￿blIC Uabnty In the sum of £5,000,0￿ in of its charitsble actNities uTrJer the Youth Organisatlon Ingjrance SchenR. Page15 Audit Trail ## **Document Details** |**Title**|Financial Statements for the Year Ended 31 March 2025-1.pdf|Financial Statements for the Year Ended 31 March 2025-1.pdf|| |---|---|---|---| |**File Name**|Financial Statements for the Year Ended 31 March 2025-1.pdf||| |**Document ID**|decf1117b1ec48499192e128a5c4c949||| |**Fingerprint**|4dd17d92319bdb44e98b9153d5b436aa||| |**Status**|Completed||| |**Document**|**History**||| |**Document**
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