Charity Number: NIC 100425
Company Number: N1031294
PER
FIF.LD DE
TRUST LTD
Limited b GuArAn
TRUSTF.ES' REPORT
ND FINANCIAL STATFM
YEAR ENDED
OPME
an

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
TABLE OF COIYTENTS
Page
Comp8ny Inforniation
Trustees, Annual Report (including the Directors, report)
4-12
Independent Auditor's Report to the members
13-16
Statement of Financial Activities (including income and expenditure account)
17
Statement of Financial Position
18
Statement of Cash Flows
19
Notes to the Financial Statements
20-28

UPPER SPRtNGFIELD DEVELOPMENT TRUST LTD
COMPANY INFORMATION
Company registration number
N.1. 031294
Charity registration number
NIC 100425
Directors and trustees
Catherine FitLsimons
John McGeown
Noel Rooney
Brenda Turnbull
Seamus O'Prcy
Therese McKernan
Harry Mark Connolly
John Mccavana (Appointed 0710512023)
Secretary
Donal McKinney
Key Management Pcrsonnel
Chief Exccutive Officer
Head of finance
Head of Operations
Donal McKinney
Anne McEvoy
Ann-marie Mervyn (Resigned 1410412023)
Registcr¢d office
689 Springfield Road
Belfast
BT12 7rp
Auditors
Jones Peters
Registered Auditors
Chart¢red Accountants
6 Church Street
Banbridge
BT32 4AA
Bankors
26 University Road
Belfast
BT7 INH
Solicitors
Edwards & Co. Solicitors
28 Hill Street
Belfast
BTI 2LA

UPPER SPRINGFIELD DEVELopMEKf TRUST LTD
TRUSTEES, ANNUAL REPORT (INCLUDING THE DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Report of the Trustces for the year ending 31 March 2024
The trustees, who are also directors for the purposes of company law, present their report and the financial
statements of the charity for the year ending 31 March 2024.
Chair's Report
I am delighted to present USDT'S annual report for the year 23124. This year has been a remarkable journey
of growih, progress, and inipact, and it is with sincere appreciation that I thank all who have been instrumental
in making this possible. I would like to thank our Board of Trustees, who come from a wide range of
backgrounds, for their timc, skills and professionalism. Under their leadership> USDT, continues to extend the
reach of its services whilst meetin8 the highest governance and financial standards. In addition I would like to
commend our executive and scnior managcmcnt group for their profession￿ dedication to improving the
welfare of our community. My deepest gratitude must be extended to our employees, who in challenging timcs,
have maintaincd services of the highest quality. And finally I would like to sincerely thank our range of
statutory fi￿ders, grant m8J(ing bodies, businesses and the public for the continued support of our organisation.
In the past year, our focus has been on crafting tailored programmes that cater to our community's specifi
needs. Through these bespoke initiatives, we have witnessed a series of remarkable achievements and positive
outcomes that will leave a lasting impact on individuals the whole community and these efforts not only
contribute to the growth and development of our community but also play a crucial role in fostering a sense of
sustainability that will resonate for years to come.
Central to our mission is the idea of building sustainable communitics. Through our programme delivery , we
have not only workcd towards immediate improvements but have also laid the foundation for long-lasting
change, Sustainability, in this context, encompasses social, e¢onomiG, and environmental aspects, all of which
are intertwined in thc fabric of our initiatives. By prioritising the well-bein8 of our community members,
fostering economic growth, and b¢ing mindful of our environmental footprint, we are creating a holistic
approach to community devclopment that is both forward-thinking and responsible.
l. Community Development
At USDT we firnily believe in the power of communities to drive positive change. In 2024, we continucd
our mission to strengthen the bonds within neighbourhoods and empower individuals to become active
contributors to society. Through collaborative efforts and partnerships, we successfully implemented
projects that enhanced community spaces, promote sustainable practices, and cultivate a sense of belonging
among residents. We are proud to wiiness the emergence of stronger, more resilient individuals and
community a5 a result of our varied work programmes.
2. Cost of Living
The ever-rising cost of living has posed significant challenges for vulnerable individuals and fan]ilies. In
response, we have taken proactive measures to address tllls issue head-on. By providing financial literacy
workshops, affordable housing support. and access to essential resources. we aim to alleviate the burden of
the cost of living on those who are most affected. Our dedication to this cause remains steadfast as we
continue to seek innovative solutions that empower individuals to achieve fll￿]cIal stability and improve
their quality of life.

UPPER SPRINGFIELD DEVELOPNtENf TRUST LTD
TRUSTEESY ANNUAL REPORT (INCLUDING THE DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
3. Poverty and Isolation Programmes
One of the gravest challenges in our neighbourhoods is the persistence of povety and isolation, which
deeply impacts the well-being and prospecls of individuals. In 2024, USDT intensified efforts to combat
thesc issues through targeted programmes aimed at breaking the cycle of povety. By fostering connections,
providing skills training? and offering mental health support, we have striven to uplift those in need and
create a path towards a brighter fiiture.
Isolation can have detrirnental effects on individuals, mental and emotional well-being. Ending isolation
involves crcating social connections and support networks for individuals who might be feeling lonely or
excluded. This can be achieved through community engagement activities, creating safe spaces for
interaction, providing opportunities for shared experiences, and encouraging open Communication. Building
a Sen￿ of belonging and inclusion helps individuals feel valued and Connected to a broader community.
4. Providing Life Chances
Providing life chances means ensuring that all individuals have equal opportunities to access resources,
education, healthcare, employment, and other essential aspects of life. This principle seeks to 'level the
playing field, and reduce systemic barriers that might othcrwise limit certain groups, prospects for success.
By offering equitable access to opportunities, we can enable individuals to r¢alise their full potential and
contribute positively to their communities.
S. Ending GoneratlonAI Inequalities
Addressin8 these inequalities involves implementing policies and initiatives that break the cycle of
disadvantage that can be passed down from one generation to the next. This includes measures to improve
access to quality cducation, affordablc housing, healthcare, and job opportunities for all agc groups, ensuring
that no one is disproportionately burdened by circumstances beyond their control.
Overnll, these concepts are interconnccted and often require comprehensive and systemic approaches to achieve
meaningful changc. Governments, organisations, communilies, and individuals all play a role in fosterin8
community d¢velopmenL reducing isolation, providing life chances, and ending generational inequalities.
Collaboration, empathy, and a commitment to social justice are essential components of creating a more
equitable and inclusive society.
New Strate
USDT'S new strategic plan gives us a clear vision, mission and strategy to ensure the community benefits
from positive outcomes. Over the next three years USDT will make the most of any opportunities by:
tackling social and community issues.
building sustainable urban regeneration through 'capacity building, at local level;
campaigning on the area's behalf:
enhancing our area's physical infrastructure;
provide service excellence through our various programmes.
USDT have the corrcct governance and management structures in place to provide ongoing innovative
programmes to meet local people's needs.
Principal Aetivity
Upper Springfield Dcvelopment Trnst Ltd (USDD promotes the benefit of inhabitants of the Upper Springfield
area of Belf&8t and its environs (the "area of benefit") without distinction of sex. sexual orientation, race or
political, religious or other opinions.

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
TRUSTEES, ANNUAL REPORT (INCLUDING THE DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Public Benefit
The promotion for the public benefit of urban regeneration in thc area of benefit by all or any of the following
means:
the relief of povcty, in such ways as may be thought fit;
thc relief of unemployment in such ways as may b¢ thought fit, including assistance to find employment.
the advancement of education, training or retraining* particularly among the unemployed and providing
the unemployed with work experiencc.
the provision of finan¢ial assistance, tecl)nical assistance or business advice or consultancy in order to
provide training and employment opportunities for the un¢mployed in cases of financial or other
charitable need through help:
In setting up their own businesses; or to existing businesses;
the provision or assistance in the provision of recreational facilities for those who by reasons of their
youth, age, infinnity or disablement9 povety or social and economic circumstances, have need of such
facilities;
'I'o promote and create opportunities for participation in the arts in the community;
The development of the capacity and skills of the members of the Upper Springfield community in such
a way that they are better able to identify, and help meel their needs and to participate more fully in
society.
And without prejudice to the generality of the foregoing other charitable purpose, for the benefit of the public
as the trustces may from time to time decide.
Achievements and perfornianee
In the year covered by this report USDT continued to have an ongoing positive impact in a widc range of ar¢&8
which met all our charitable purposes.
Advice Services
Since the Upper Springfield Advice Service (USAC) became an intcgral part of USDT in July 20 l7 it has
continued to deliver a high quality, confidential, free, independenl accessible and impartial infonnation service.
It is a service that rneets the needs of Upper Springfield conununity by addressing issues around welfare refonn,
benefit entitlemen¢ tax credits, housing, health, employment, consumer, education, financial capability and
crisis intervention. During this past year the s¢rvicc managed to clawback £3.3m for local people.
Iyeighbourhood Renewal
Neighbourhood Rettewal is a high-level government strategy (Department for Communities) that seeks to
develop community renewal; economic renewal; social renewal and physical renewal - to help creat¢ attractive,
safe, sustainable enviionments in the most deprived neighbourhoods. USDT acts pts the lead body for the DFC
contract. Over the year it delivered:
Management of the area's integrdted partnership;
Development of new health and wellbeing centr¢;
Implementation of area consultations;
Community safety forum.
Health development themes.
Promotion of thematic community days: health, Cbristmas. Halloween and summer festivals.
Policy responses.

UPPER SPRINGFIELD DEVELOPJMENT TRUST LTD
TRUSTEES, ANNUAL REPORT (INCLUDING THE DIRECTORS> REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Action Ability Belfast
This project promotes social inclusion by engaging with people with disabilities and their families. The
programme and services worked with children, young people and adults with a range of disabilities- to support
positive life changes environmentally, physically and socially. The aim of Action Ability Belfast is to promotc
the inclusion of people with disabilities into the community and to support the development of their natural
abilities.
Youth Team
The youth team have continued to deliver programmes and projects to enhance the social inclusion of our young
people. We achieve this by using infornjal group work, experiential learning, and detached work and accredited
training.
This integration and coordination of local youth work across the Upper Springfield community ensures the
team caters for the specific needs of local childrenlyoung people and adds value to all the projects and spaces
where we operate.
Job AsSiSt- Belfast Works
JAC continues to provide employment and training interventions for people out of work across Belfast. Across
the year we have continued to design and deliver employment services which have worked with a broad range
of people resulting in them gaining employment.
Health Living Centre
Thc Healthy Living Centrc is a neighbourhood based, community led approach to health irnprovement. With
a strong belief in thc concept of a healthy mind and healthy body leading to a hcalthy life, the project provided
a wide range of high quality services and support to assist the community in their efforts to achicve good health
and wellbeing.
As in previous years, th¢ Flealthy Living Centre continues to develop. Within a difficult environment ofsevere
hcalth inequalitics, deprivation and austerity, the local Whiterockluppcr Springfield conununity faces
enonnous Ghallenges which impacts on their health and wellbeing. Our task remains for us to help address ihe
hcalth necds of local people, whether that be physical, mental or emotional. and assist and support them in their
endeavours to maintain a healthy and balanced lifestyle,
Self-Hann Intervention Programme
Talking Therapy Programme
Local health and well-being public events
Physical activity programmes for local residents delivered in area outreach centres
Complementary therapy sessions
Stress management programmes
Weight management programmes
Bespoke 'Cook-it' programmes
Smoking cessation programm¢s
Mindfulness sessions
Saol (Fr Sure Start
Sure Start is a government led initiative aimed at giving every child the best possible start in life and which
offers a broad range of services focusing on family health, early years care and education and improved well-
being programrnes to children aged four and under. Over the past year the project worked with a wide range of
families and children.
Outsource

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
TRUSTEES, ANNUAL REPORT (INCLUDING THE DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Outsource is a social enterprise involved in designing and implementing payroll, bookkeeping, auditing. PAYE
and budgeting systems. It also works with groups to promote and embed best practice Én all their financial
functions.
Impact: Outputs and Outcomes
USDT provides a wide r8ngc of services that enables community development to flourish through our own
work and with our community partners. Thc focus for the past year has been: youth development, disability
support and advocacy, neighbourhood reg¢neration; welfare advice. training and employability, early years,
social cnterprise (finance) and communily arts. Each of those projects excelled in their impact and positive
outcomes for all U￿rs.
People with disabilities supported
Young people supported
Children and young people summer schcme
Parenting programmes
Volunteers supported
Volunteers, bours supported
Families supported
Home visits undertaken
Childcgre places provided
Pcoplc attending parent and chlld programm¢s
OCNS obtalDed
Job related trAining
Supporting Economically Inaetlve Clients
Gained employment
Involved with eommunity arts
People access training
Friday and Saturday evening youth session
Adults with dlsabilitie$ attend¢d summer s¢heme
Counselllng sessions delivered
People supported through health and well-belng activities
0-4 year-oldj sllPPOrted
Carers supported
Familics registered
People receiving advice Se￿ICe$l¢88¢9
Total advice sc8sAons
Advice claw back
748
1,300
1,326
84
580
7,310
1,073
2,287
72
826
1,563
1,342
1,950
174
232
1,597
92
124
605
3,738
1,006
1,153
1,01 I
1,238
3,533
£3.3m
Structure, Governance and MaDagement
Governing Document
Upper Springfield Development Trust Ltd is a company registered in N. Ireland, which was incorporated under
the Companies (Northern Ireland) Order 1986 on 11 September 1996. The company is governed by a
Memorandum and Articles of Association. The company's objectives are charitable in nature and it h&s
established clwitable status.
The clwitable company's activities are managed by the directorsltrustees who are considered to be the members
'of the company.

UPPER SPRINGFIELD DEVELOPMEKf TRUST LTD
TRUSTEES, ANNUAL REPORT (tNCLUDING THE DIREcfoRS' REPORT)
FOR THE YEAR EIYDED 31 MARCH 2024
Trustees, Appointment and Training
The trustees recruit and select new trustees as set out in the governing document. The Board recruits new
trustees with regards to skills, gaps and the potential of the new members to make a real contributÈon to the
charity's overall governance.
The Board predicates trustees, appointments on our organisational values and make new Members aware of
their Icgal responsibilities under charity and company law. Our members, induction pack outlincs our Articles
of Association, board structure, organisational structure, decision making processes and our overview of
finances. Our fonnal induction provides new board members with the inf0m￿tIon and training they need to
take up their appointment as effectively as possible.
FINANCE, PAY AND REMUNERATION
USDT operates robust financial procedures which the Board regularly review and independently assess. We
have clear financial management systems to ensure effective and appropriate use of spend, administering
resourccs cost-effectively? transparently and accountably with clear audit trails.
All Board members give their time freely and no member received any remuneration during the year.
USDT b&8e the senior staff team's pay on the NJC Salary Scales as a guide to appropriate remuneration for all
staff pay. Pay levels are currently subject to annual increments or cost of living expenses.
ORGANISATIOIYAL STRUCTURE
The Board administers the charity and nonnally meet I I tirnes in the year. As part of its structurc the Board
operat¢s three sub committees: fmance, audit and risk; human resources, and remuneration. The Board appoint
a chief executive to manage the charity's day to day operations. To ensure effective daily managemcnt the chief
executive has delegated authority through the Board's approval for operational matters including finance,
employment and direct charitable activities.
Risk mqnagemcnt
Our approach to the managcment of risk is infornied by the need to ensure that th¢ risks inherent in the pursuit
of our objectives att understood, will be manageable if realised, and that appropriate mitigation measures are
planned or are in place. Rcsponsibility for the management of specific risks is carried by named individuals
and groups, but the highest level risks, those that have a direct bearing on the USDT'S capacity to achieve its
strategic objcctives, are managed by the senior management team. The USDT'S finance and audit risk
commiltee plays an active role in risk monitoring and have a risk management strategy that compriscs:
An annual review of the principal risk and uncertainties that the charity takes;
The establishmcnt of policies, systems and procedurcs to anticipate risks in the annual review; and
The implementation of procedures designed to minimise or manage any potential impact on the charity
should those issues materialise.
Reputational Risks: The Trustccs are conscious of the importance of the charity's reputation as a well run
organisation delivering public benefit and have undertaken steps to ensure USDT governance and management
structures are robust and give confidence to all stakeholders and operate in line with our values.

UPPER SPRINGFIELD DEVELOPMEKf TRUST LTD
TRUSTEES, ANNUAL REPORT (INCLItDING THE DIRECTORS> REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Financial Risks: The organisation is exposed to a variety of financial risks. Measures to mitigate this risk
include strong budgetary management and cost control and proactive negotiations with tenants and key
stakeholders.
Health and Safety Risks: The Trustees recognise the importance of safety in all of our services. USDT
implements robusl systems and structures to ensure all health and safety regulations are complied with.
LegRI Rnd Regulatory Risks: The charity is required to comply with a wider range of legal and regulatory
obligations. Policies and procedures are in place to ensure compliance with these obligations, however, there
inevitably remains a residual risk of an operational failure resulting in a breach of these obligations.
Insuryéble Riskq: 'lThe organisation incurs exposure to employer, public and propety damage liability by virtue
of the naturc of its operatkons. While a strong emphasis is placed on health and safety and risk mar￿gernent
practices to avoid liability arising, insurance cover is maintained to mitigate the financial impact from such
events.
Performance Riyks: There is a risk that the high quality of our services may not be maintained and we perfonn
below the expectations of our funders as set out in their service leveE agreements. The trustees monitor
perfonnance on an ongoing basis and have implemented annual service audit programmes as well as stsff and
service user surveys to provide them with assurance in this regard.
Financial Rcview and Results for the Year
Flnancial Review
Incoming resources have increased from £6,548,064 in the year ended 31 March 2023 to £6,879,016 in the year
ended 31 March 2024. Resources expended on generating funds and charitable activities have also increased
from £6,346,275 in 2023 to £6,768,634 in 2024. As a result, net incoming resourccs amounted to £110,382 for
thc year ended 31 March 2024 (2023: £201,789). The results for the year set out in the Statement of
Financial Activities on page 17 and in the related notes.
The company had net assets of £2,199,809 as at 3 l March 2024 (2023: £2,089,427) as detailed on the Statement
of Financial Position on page 18.
The company is the sole metnber and has total control of a propety company, Top of the Rock Lld. Top of the
Rock Ltd opcrated well in the year and gift aided a surplus of £88,441 to Upper Springfield Development Trust
Ltd.
The operations staff and propety of one of the company's subsidiaries Newhill Youth and Community
Association werc transferred to the youth projcct of USDT Ltd in October 2022. The leasehold property and
fixtures and equipment were transferred at net book value of £323,595 along with cash of £44,000 to USDT
Ltd (see note 5a).
Th¢ trustees wound down the affatrs of Newhill Youth and Community Association and completed the transfer
of assets and the company was dissolved on June 2024.
Reserves Policy and Going Coneern
At 31 m￿ch 2024 free reserves amounted to £821,404 of which £560,000 has been designated to cover costs
including proposcd expenditure on new programmes, redundancy payments and capital refurbishment. On an
ongoing basis the trustees believe there are sutricient reserves to meet the nonnal workin8 capital requirements
of the charity and to cover shortfalls in corc funding for a period of at least Six months. The tn￿teeS have
considered the potential financial effects from the changing economic environment for the upcoming 12 months
from tbe date of approval of the fLnancial statements. The trustees have a reasonable expectation that the charity
h&s adequate resources to continue in operationat existence for thc foreseeable future and for this reason they
continue to adopt the going concem basis in preparing the financial statements. Further details regarding the
adoption of the going concern basis can be found in the ac£ounting policies.
10-

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
TRUSTEESY ANNUAL REPORT (INCLUDING THE DtRECTORS' REPORT)
FOR THE YEAR ENDED 31 ￿tARCH 2024
Events after the Balance Sheet Date
There were no significant events affecting the company after the year end.
Plans for the Future
The company aims to:
To develop USDT'S capital asset base in order to provide a more comprehensive area wide service.
Further continue the Upper Springfield area's economic and social regeneration;
To champion the design, development and build of the area's new he￿th and well being centre;
Promote social inclusion;
Place education at the hcart of regeneration;
Enhance and develop Upper Springfield's natural and built environment;
Support the continued improvement in the health and well-being of thc people in the Upper Springfield
Enhance access to employment opportunities for local people;
Ensure company accountability through effective processes and communication;
Assist, augment and co-operate with the work of statutory and voluntary services engaged with the
area's economic, social and physical improvemcnt.
Tru$teeg1 Responsibility Stat¢m¢nt
The trustecs, who are also directors for thc purposes ofcompany law, are responsible for. preparing the trustees,
report and the financial statemcnts in accordancc with applicablc law and United Kingdom Accounting
Stsndards (Unitcd Kingdom Gcn¢ra]ly Accepted Accounting Practicc).
Company law requires the charity trustees to prepare financial ststements for each year which give a truc and
fair view of the state of affairs of the charitable company and th¢ incoming resources and application of
resources, including the income and expenditure, for that period,
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charity's transactions and disclose with re&8onable accuracy at any time the financial position of the charity
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 charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
11

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
TRUSTEES? ANNUAL REPORT ON.CLUDllYG THE DIRECTORSJ REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Audilor
Each of th¢ persons who is a trustee at the dal¢ of approval of this rq)ort confmn8 that:
• 50 far as they arn awar¢, there is no relevant audit information of which th¢ ¢harity'S auditor is unaware.
they have iaken all steps that they ought to h&v¢ taken as a trust¢c to make ihemselves aware of any r¢l¢vant
audit infornjation 2nd to establish that the charity's auditor is aware of that infomiatio
The auditor is deemed to have been reappointed in accordance with Se¢tion 487 of the Companies Act 2006.
Small eompany provAJlon8
This report has been prepared in accordance with the provisions applicabl¢ to ¢ompanies entitled to the small
companies, exemption.
Thi5 report was appmved by the board on 29 November 2024 and signed on Its behalf by:
l Rooney-
Cbalr
-12-

UPPER SPRINGFIELD DEVELOPMEKf TRUST LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
FOR THE YEAR ENDED 31 MARCH 2024
Opinion
We have audited the financial statcments of Upper Springfield Development Trust Ltd (the 'charity') for the year
ended 31 March 2024 which comprise the statement of fmancial activities (including income and expenditure
ac¢ount), statement of financial position, statement of cash flows and the related notes. including a summary of
significant accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and the United Kingdom Accounting Standards including FRS 102 The Financial Reporting
Standard applirAble in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
In our opinion the financial statements;
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources
and application of resources, including its income and expenditur¢, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally A¢¢ept¢d Accounting Pwtice;
have been prepared in accordance with the requirements of the ComparAies Act 2006 and the Charities Act
INorthcrn Ireland) 2008.
Basis for opinion
Wc conducted our audit in accordance wtth International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under thosc standards are further described in thc auditor's responsibilities for the audit
of the financial statements section of our rcport. We are indcpcndent of the charitable company in accordance
with the ethical requirements that ar¢ relevant to our audit of the financial statements in thc UK, including the
FRC'S Ethical Standard, and wc have fulfilled our other ethical responsibilitics in accordance with these
requirements. We believe that the audit evidenc¢ we have obtaincd is sufficient and appropriate to provide a basis
for our opinion.
Conclusions relating to going concern
In auditing the financial statem¢nt5, we have concluded that the trustees, use of the going concern 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 charity's ability to continue ￿ a
going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the tNst¢es with respect to going concern are described in the
relevant sections of this report.
Other information
The other inforn]ation comprises the inforniation included in the annual report, other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the
financial statements does not cover the other iJ]forniation and, except to the extent otherwise explicitly stated in
our report, we do not express any forni of assurance conclusion thereon.
13

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
IrqDEPENDENT AUDITOR?S REPORT TO THE MEMBERS OF
UPPER SPRINGFIELD DEvELOP1k￿NT TRUST LTD
FOR THE YEAR FNDED 31 MARCH 2024
In connection with our audit of the financial statements, our responsibility is to read the other infonnation and, in
doing so, consider whether the other information is materially inconsistcnt with the fllwicial statements or our
knowEcdge obtaincd in the audit or otherwise appears to be materially misstated. If wc identify such material
inconsistencies or apP￿ent material misstatements, we are required to dctcnnine whether there is a material
misstatement in the financial ststements or a material misstaternent of the other infonnation. If, based on the work
we have perfonncd, we conclude that there És a material misstatement of this oth¢r infom]ation, we are required
to report that fact,
We have nothing to report in this reg￿d.
Opinions on other matters pr¢seribcd by the Companies Act 2006
In our opinion, based on the work undertaken in the course of thc audit:
the inforniation given in the trustces, report for the financial year for which the financial statements are
prepared is consistent with the financial 5tatcments' and
the trustees, report h&% been prepared in accordance with applicable legal requirements.
Mattcrs on Jvhich we are requlred to report by exception
In the light of the knowledge and understanding of the company and its enviroTllnent obtained in the course of the
audit, wc have not id¢ntifLcd material misstatements in th¢ trustees, report.
We have nothing to report in respcct of the following matters in relation to which the Cornpanies Act 2006 requires
us to r¢port to you if, in our opinion:
adequate accounting Tecords havc not been kept, or returns adequate for our audit have not been receivcd from
branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not received all the infonnation and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small ¢ompanies'
regim¢ and take advantage of the small companies, exemption in preparing the trustees, report and from the
requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in tbe trustees, responsibilities statement. the trustees, (who are also the directors for the
purposes of company law), are responsible for the preparation of the financial statements and for being satisfied
that they give a true and fair view, and for such inten]al control as the trustees detern]ille is necessary to enable
the preparation of fjnancial statements that are free from material rnisststemenL whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitsble company's ability
to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going
14-

UPPER SPRINGFIELD DEVELOPME￿ TRUST LTD
INDEPENDENT AUDITOR?S REPORT TO THE MEMBERS OF
UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
FOR THE YEAR ENDED 31 MARCH 2024
concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternativ¢ but to do so.
Auditor's responsibilities for the audit of the financial $tatcment8
Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Rcasonable assurance is a high level of ￿SUrance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misststements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to
infiuence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was eapable of detecting irregularitics, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations, We identified and
assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or
error, and discussed these between our audit team members. We then designed and perfornied audit procedures
rcsponsiv¢ to those risks, including obtsining audit evidence sufficient and appropriate to provide a basis for our
opinton.
We obtained an understanding of the Ic8al and regulatory frameworks within which the charity operates. focusing
on those laws and regulations that have a direct cffect on the dctennination of material amounts and disclosures
in the financial statements. Wc assessed thc required compliance with thcse laws and regulations ￿ part of our
audit procedures on the related financial staternent itcms. In addition, we considered provisions of other laws
and regulations that do not have a direct effect on the financial statements but compliance with which might be
fundamcntal to the charity'8 ability lo operate or to avoid a material penaliy. W¢ also con8idered the oppOr￿nitI¢S
and incentives ihat may exist within the charity for fraud.
Auditing standards limit the required audit procedures to idcntify non-compliance with these laws and regulations
to cnquiry of the directors and other management and inspection of regulatory and Eegal correspondence, if any.
We identified the greatest risk of material impact on the financial ststements from irregularities, including fraud,
to be within the timing and completencss of recognition of grant and contract income and major donations and
the overridc of controls by managcment. Our audit procedurcs to respond to these risks included enqulries of
manag¢ment and the Audit Committee about their own idcntification and assessment of the risks of irregularities,
testing of a sample of transactions against th¢ tenns ofthe funding agreements and the requircment of the Charities
SORP (fRS102), sample testing on the posting ofjournals, reviewing accounting estimates for biL￿s and reading
minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the fmancial statements, even though we have properly planned and perfonned our
audit in accordance with auditing standards. In addition, as with any audit. there remained a higher risk of non-
detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected
to detect non-compliance with all laws and regulations.
15

UPPER SPRINGFXELD DEVELOPIl￿N[ TRUST LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
FOR THE YEAR ENDED 31 MARCH 2024
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: wMv.frc.org.uk/auditorsrcsponskbilities. This description fonns part of our
Auditor's Report.
We also communicated relevant identified laws and regulations and potential fraud risks to ￿1 audit team members
and remained alcrt to any indications of fraud or non-compliance with laws and regulations throughout the audiL
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional
scepiicism thmughout the audit. We also:
Identify and assess the risks of material misstalement of the financial statements, whether due to fraud or
error, design and pcrforn] audit procedures responsive to those risks, and obtain audit evidencc that is
suificient appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intenlionaL omissions, misrepresentations, or the override of internal control.
Obtain an understandÉng of internal control relevant to thc audit in order to design audit procedures that are
appropriate in the circumstances. but not for thc purpose of cxpressing an opinxon on the cffectiveness of the
internal control,
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related dÉsclosures made by the trustees.
We communicate wilh those charged with governance regarding, among other matters, thc planned scope and
timing of the audit and Significant audit fmdings, includillg any significarLt deficiencics in internal control that we
identify during our audit.
Use of our report
This report is made solely to the charity's members, as a bodyg in accordance with Chaptcr 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those
matters we are rcquired to state to them in an auditor's report 8nd for no other purpose. To the fullest extent
pennitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
members as a body, for our audit work, for ths repor( or for the
ons wc have fomied.
Hughes House
617 Church Street
Banbridge
BT32 4AA
29 November 2024
Paul Cummings
enior Statutory Auditor)
For and on behydlf of Jones Peters
Chartered Accountants and
Statutory Auditors
16-

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES
CLUDING INCOME AND EXPENDITURE ACCO
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restriet¢d
Funds
Funds
31 March
2024
31 Marcb
2023
Note
Income
Donations
5a
88,441
88,441
412,915
Incomefrom charitable aclivilies..
Grants and contracts
5b
41,062
6,373,797
6,414,859
5,665,480
Activities for generating funds
205 394
375 716
469 669
Total Income
54
Expenditure
C05t of gcncrating funds
107,687
107,687
124,421
Expenditure on charitable activitics
6b
14
51
622185
Total expenditure
251116
6 517 518
Net incom¢l(expenditsre) and net
movement In funds for the year
83,781
26,601
110,382
201,789
Reconciliation of funds
Total funds brought forward
Total funds carried forsvard
The ststement of fmancial activities includes all gains and losses recognised in the year. All income and
expenditure derives from continuing activities.
The notes on pages 20 to 28 form integral part of these financial statements.
17-

UPPER SP
GFIELD DEVELOPMEIYT TRUST LTD
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024
Note
3110312024
31103r4023
Flxed assets
11
370,337
363.879
Curtent assets
Debiors
C&sh at bank 8nd in band
12
1240,078
2,017,305
2,424,452
2,621,598
Créditors:
Amounls falling due
within one year
13
050
, N¢t eurrent assets
Net assets
The funds of th¢ charlty:
Unr¢5tr1cted funds
15
1,959.682
1.875,901
Restricted funds
15
Total ¢harlty fundy
The financial stat¢ments have been prepared in aecordance with the provisions applicable to eothpanies
subject to the small companies regime.
The finaocial statements were approved and authorised for issu¢ by the board of tntstecs on 29 November
2024 and Si￿ed on ils behalf by'.-
McGeown- Trustee
S. O•Pre
rnstee
R¢gi8trAtion Number N1031294
Tbe Dotes on pages 20 to 28 form an integral part of thes¢ fmaneial statements.
-18-

UPPER SPRINGFIELD DEVELOPMEwf TRUST LTD
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operatSng activities
Surplusl(Deficit) for the fllLqncial year
110,382
201,789
Adjustmentfor..
Depreciation of tangible assets
Interest payable and similar expenses
32,208
4,413
27,661
3,877
Changes in..
Other debtors and prepayments
Other creditors and accruals
777,227
(822,581)
Net cash flow generated from operating activities
623,160
215,762
Interest paid
877
Net cash flow from operating activities
Cash flow from investing activities
Purchase of tsngible assets
Net cash used in investing activities
N¢t (deerease)Ilncrease in cash and cash equivalents
Cash and eash equivalents at begfinning of year
580,081
(123,324)
727 617
Cash and cash equivalent5 at end of year
19-

UPPER SPRINGFIELD DEVELOP￿tENT TRUST LTD
OTES TO THE FINANCIAL STATEMENTS
FOR THF YEAR ENDED 31 ￿lCH 2024
GENERAL INFORMATION
Ibe charkty is a public benefit entity and a private company limited by guarantee, registered in Northern
Ireland and a rcgistered charity in Northern Ireland. The address of the registered office is 689 Springfield
Road. Belfast, BT12 7FP.
STATEMENT OF COMPLIANCE
These fmancial statements hav¢ been prepared in compliance with FRS 102. 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland,, thc Statement of Recommended Practice
applicable to charit1¢5 preparing their accounts in accordance with the Financial Reporting Standard
applicablc in the UK and Republlc of Ireland (FRS 102) (Charities SORP (FRS 201)) and the Charities Act
(Northern Ireland) 2008.
Upper Springfield Development Trust Ltd meets the definition of a public benefit entity under
FRS 102.
LEGAL STATUS OF THE TRUST
Upper Springfield Development Trust Ltd is a company limited by guarantee and accordingly does not have
a share capital. The trustees arc ¢onsid¢r¢d to b¢ th¢ memb¢r3 of the company. Evcry member of the
company undcrtakes to contribute such amount as may be required not exceeding £1 to the assets of the
charitable company in the event of its being wound up while he or she is a member, or within one year after
he or she ceases to be a Member.
ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied
consistently throughout the year and thc preceding year.
Basis of preparation
The financial statcments have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measurcd at fair value
through income or expenditure.
The fmancial ststements are prcpared in sterling, which is the functional currency of thc cntity.
4,2 Judgemcnts and key sources of estimation uncertainty
The preparation of the financial statements requires mana8ement to make judgements, estimates and
assumptions that affect thc amounts reported. These estimates and judgements are continually
reviewed and are based on experience and other factors, including expectations of future events that
e believed to be reasonable under the circumstances.
Going concern
The charity had free reserves of £821,404 at the year end and net assets of £2,199,809 at the year end.
The tnLStees have considered the financiat position of the companies within the group and the
fmancial budgets and forecasts for the 12 months from the date of these financial statements. In
doing so the trustees have also considered the potential fmancial effects from the changing economic
environment for the upcoming 12 months, including the potential impact on ongoing funding and are
taking mitigating actions to ensure that the charity and the group will continue to operate.
The trustees believe that there are no material unccrtainties about the ability ofthe charity to continue
in operational existence and the financial statements have been prepared on a going concern b&sis.
-20-

UPPER SPRINGFIELD DEVELOPMEKf TRUST LTD
NOTES TO THE F[NANC￿L STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
4.4 Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's
purposes.
Designated funds are unrestricted funds earnwked by the trustees for particular future projects or
commitments.
Restricted funds are subje¢tcd to restrictions on their expenditure declared by the donor or through
the tenns of an appeal, and fall into one of two sub-classes: restricted income fLU]ds or endowment
funds.
4,5 Incoming resoure¢s
All incoming resources are includ¢d in the statement of financial activities when entitlement has
passed to the charity; it is probable that the economic benefits associated with the trensaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlernent to the gif4
receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impra¢tical
to measure reliably, in which case the value is derived from the cost to thc donor or the estimated
resale valuc. Donated facilities and scrvices are rccogniscd in thc accounts when received if the
value can be reliably measured. No amounts are includcd for the contribution of general
volunteers.
income from contracts for the supply of services is recognised with the delivcry of the contracted
servicc. This is classified as unrcstricted fLmds unless there is a contractual requiremcnt for it to
bc spent on a particular purpose and rettwned if unspcnt, in which case it may be regarded as
rcstrictcd.
4.6 Resources ¢xpcnded
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includcs any
VAT which cannot be fijlly recovered, and is classified under headings of the ststement of financial
activities of which it relates:
expenditure on raising funds includes the costs of all fundraising actlVLties, events, non-charitable
trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its bcneficiaries, including those support
costs and Costs relating to the governance of the clwity apportioned to charitsble activities.
other expenditurc includes all expenditure that is neither related to raising funds for the charity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resow¢e. Direct costs
attributable to a singlc activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
21

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
NOTES TO FJNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Tangible fixed a58et8
Tangible fixed assets are stated at Cost less accumulated depreciation and accumulated impairment.
Cost includes cost directly attributable to making asset capable of operating as intended.
4.8 Depreciatlon
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at
rates calculated to write off the cost less residual value of each asset on a straight line basis over its
expected useful life as follows:
Leasehold property
Fixtures & fittings
Leasehold improvements
Motor vehicles
25%
4.9 Financial instruments
The trust only has fmancial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financAal instrLuncnts are initially reCo￿lSed at transaction value and subsequ¢ntly
measured at their settlement value with the exception of bank loans which are subsequently measured
t amortised cost using thc cffective interest rnethod.
4.10 Defined Contribution pensioD 5¢hemes
The pcnsion costs charged in the financial statements represent the contribution payable by the
company during the year.
INCOME
Unrestricted Restricted 3110312024 3110312023
Funds
Funds
Total FuDds Total Fund8
5a. Donation5
Donated assets from subsidiary
Top of the Rock - Gift Aid
367,595
Tbe income from donations of £88,441 (2023.. £412,915) was unrestricted.
Leasehold propety and f￿eS and equipment with a net book value of £323.595 and c&sh of £44.000
were donated to USDT Ltd from Newhill Youth and con￿nunIty Association in 2023, on the transfer
of the operations and undertakÉng of that company to USDT Ltd.
-22-

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
NOTES TO THE FINANCIAL STATEMEwrs
FOR THE YEAR ENDFD 31 MARCH 2024
Unrestricted Restrieted
Funds
Funds
3110312024 3110312023
Total Funds Total Funds
5b. Income from grants and contracts
UK Shared Prosperity Fund
Departrnent for Communities
Eastem Childcare Partnership
Innovatc UK
The Ex¢cutive Office
Belfast Health & Social Care Trust
Public Health Agency
Belfast City Council
Tndependent Living
Nl Housing Executive
ducation Authority
Falls Community Council
Blackie Centre
Community Fund
GP liedcration
Clear Funding
Arts Council of Northern Ireland
Transfer your trolley
Seed
Department for thc Economy - ESF
Elevate Nl
Keep Northern Ireland Beauliful
OCN
The Electrical Safety Fund
Alex Ferry Foundation
Belfast Metropolitan College
Busincss Scrvices Organisation
Central Income
Client Contribution
Erasmus
Healthy Living Centre Alliance
Lower Onneau Resident's Action Group
West Belfast Partnership Board
3.848,673
678.812
525,607
303,606
210,262
182.546
129,790
127,708
96,831
88,192
73,573
56,510
23,759
10,000
5,140
3,920
5,368
2,000
1,500
3,848,673
678,812
525,607
333.160
210,262
182,546
129,790
127,708
96,831
88,192
73,573
56,510
35,267
10,000
5,140
3,920
5,368
2,000
1,500
706,097
524,654
29,554
59,152
216,614
119,973
143,700
68,166
76,717
35,488
77,428
63,243
6,900
5,240
9,300
I 1,508
3,434,964
5,000
2,658
3.000
s,000
8,140
16,131
1,753
56,400
5,910
10,689
663
1,500
Income from charitable activities was £6,414,859 (2023: £5.665,480) of which £6,373,797 was
restricted (2023: £5,532,909) and £41,062 w&8 unrestricled (2023: £132,571).
23-

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
NOTES TO THE FINIINCIAL STATEMENrs
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrieted Restricted 3110312024 3110312023
Funds
Fund5
Total Funds Total Funds
5¢. Activities for generating funds
Generating Funds
205 394
£205 394
170 322
375 716
£375 716
Incomc from activities for generating funds was £375,716 (2023: £469,669) of which £170,322
(2023: £288,245) was restricted and £205,394 (2023: £181,424) was unrestricted.
EXPENDITURE
Unrestricted Restricted 3110312024 3110312023
Funds
Funds
Total Funds Total Fund$
6a. Cost of generating funds
StAff costs
107 687
107 687
124421
Expenditure on generating funds of £107,687 (2023: £124,421) was unrestrietcd.
Unrestricted Regtrlcted 3110312024 3110312023
Funds
Fund8
Total Funds Total Funds
6b. Charitable activities
Staff costs
Premises costs
Training
Depreciation
Other operating costs
Programme delivery
Parther payments
Governance costs (see note 7)
2,451,342
256,014
2,776
2,451,342
268.719
2,776
32,208
4,412
1,500,218
2,347,666
2,467,228
254,615
1,875
27,661
3,877
1,052,760
2.375,768
12,705
32,208
597
96,419
3,815
1,403,799
2,347,666
1500 ￿6
Expenditure on charitable activities was £6,660,947 (2023: £6,221,854) of which £6,517,518
(2023: £6,009,974) was restricted and £143,429 (2023: £211,880) was unrestricted.
-24-

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31 MARCH 2024
ANALYSIS OF GOVERNANCF COSTS Unrestricted Restricted 3110312024
3110312023
Funds
Funds
Total Funds Total Funds
Accountancy/AudiVConsultan¢y
Legal and professional fees
1,500
29,928
31,428
18,664
NET INCOMINGioirfGOING RESOURCES FOR THE YEAR
3110312024
3110312023
This is stated after charging:
Depreciation
Auditors, remuneration
32,208
27,661
9. ANALYSIS OF STAFF COSTS AND TRUSTEE REMUNERATION
3110312024
3110312023
Salaries and wages
Social security costs
Pension costs
2,278,282
171.638
2.283,098
192.261
116290
The key manag¢m¢nt personn¢l of the ¢harity comprise thc Trustees, Chief Executive Officer, Head of
Finance. The Head of Operalions had resigned in April 2023 and was not replaced.
The total employee benefits of the key managem¢nt personnel of the charity total £125,858 (2023:
£190,793). Two employees had employee benefits in excess of £60,000 (2023: Two),
During the ycar no trustee received any remuneration (2023: NIL) or any benefits in kind (2023: NIL).
10. STAFF NUMBERS
The average number of full-time equivalent employees during the year were as follows:_
3110312024
3110312023
Number of staff
-25-

UPPER SPRINGFIELD DEVELOPMENT TRUST LTD
NOTES TO THE FINANCIAL STATEMEIYTS
FOR THE YEAR ENDED 31 MARCH 2024
I I. TANGIBLE FIXED ASSETS
Long
Leasehold
Property
Leasehold
Improvements
Fixtures &
equipment
Total
At l April 2023
Additions
Disposals
At 31 March 2024
317,429
42,925
216,633
38,666
576,987
38,666
317429
204
Depreciation
At l April 2023
Charged during the year
Disposals
At 31 March 2024
2,646
6,349
42,925
167,537
25,859
213,108
32,208
50
41
14
Net book value
At 31 March 2024
At 31 March 2023
The bases by which depreciation is calculaled are stated in note 3.8,
Thc property at 261 White Rock Road, Belfast was valued by Osborne King. Commercial Property
Consultants at 31 March 2022. The trustees are satisfied that th¢ valuation remains appropriate as at
31 March 2024.
12. DEBTORS
3110312024
3110312023
Other debtors and prepayments
Amount owed by Top of the Rock Ltd
472,137
767
1,249,364
Th¢ loan due by Top of the Rock Ltd is unsecured and interest free.
13. CRFDITORS: Amounts falling due withln one year
3110312024
3110312023
Accruals and deferred income
Other creditors
519,757
40,912
855 138
14. FINANCIAL INSTRUMENTS
All fll]ancial instruments have been recorded at their transaction price. No other financial instruments
exist other than those included ill debtors and creditors.
-26-

UPPER SPRINGFIELD DEVELoPmE￿r TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
15. ANALYSIS OF CHAIUTABLE FUNDS
Analysis of movements in restricted and unrestricted funds.
Balance at
Incoming
l April 2023
R¢sour¢es
Outgoing
Rcsources
Balance at
31 March 2024
Total Unrestricted Funds
Total Restricted Funds
Total l4unds
1,875,901
213526
334,897
654411
251,116
6 517 518
1.959,682
240 127
Analysis of movements In restricted and Unrestricted funds - previous year.
Balanee at
l April 2022
Ineoming
Resources
Outgoing
Resources
Balance at
31 March 2023
Total Unrestricted Funds
Total Restricted Funds
Totsl Funds
1,485,292
402 346
726,910
5 821154
336,301
6 009 974
1,875,901
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Analysis of net assets
Unrestricted
Funds
Regtrieted
Funds
31 MAreh 2024
Total
riixed ￿set$
Top of the Rock debtor
Net current assetsl(liabilities)
370,337
767,941
821404
370,337
767,941
1061531
240 127
Analysig of net assets- previous year
Unrestrieted
Funds
Restrieted
Funds
31 March 2023
Total
Fixed assets
Top of thc Rock debtor
Net current assetsl(liabilities)
363,879
767,94l
744 081
363.879
767,941
213 526
£.L
17. CORPORATION TAXATION
The charity is exempt from tax on income and gains falling within section 505 of the T&xes Act 1988
or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to
its charitable objects.
-27-

UPPER SPRINGFIELD DEVELOPMEIYT TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. CONTINGENT LIABILITY
A contingent liability exists to repay grants received should certain conditions not be fulfilled by the
charitable company. In the opinion of the trLESt¢es the tenns of the letters of offer have bec￿ or will
be, complied with and no liabilkty is ¢xpect¢d to occur.
19. RELATED PARTY TRANSACTIONS
Top of the Rock Ltd
Top of the Rock Ltd is a company limited by guarantce whose only member is Upper Springfield
Dev¢lopment Trust Ltd. The company is also under the control of the Directors of Upper Springfield
Development Trust Ltd.
Rental income nct of expenses of £88,441 (2023: £45,320) was gift aided to Upper Springfield
Development Trust l.td by Top of the Rock Ltd during the year. Rental payments made to Top of
the Rock Ltd by Upper Springfield Development Trust Ltd during the period amounted to £105,521
(2023: £84,521).
As at 31 March 2024 Top of the Rock Ltd owed £767,941 (2023: £767,941) to Upper Springfield
Development Trust Ltd.
SprinKvalc TrainiDg LLmited
Springvale Training Limited is a Company limited by guarantee wh05¢ only member is Upper
Springficld Development Trust Ltd. The company is also under thc control of the Directors of
Upper Springfield Development Trust Ltd.
Management Charges paid to Upper Springfield Development Trust Ltd amounted to £16,640 (2023:
£15,600).
Rental payments made to Springvale Training Limited by Upper Springfield Development Trust Ltd
during the pcriod amounted to £12,356 (2023: £42,479).
Newhill First Steps Childcare Centr¢ Ltd
Newhill First Step5 ChÉldcare Centre Ltd is a company limited by guarantee whose only member is
Upper Springfield Development Trust Ltd. The Company is also under the control of the Directors
of Upper Springfield Development TTh￿t Ltd.
Management charges to Upper Springfield Development Tn￿t Ltd amounted to £12,480 (2023:
£5,200).
-28-