SpeGtrum Centre Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Unreslricled fvnd$ Totsl funds 2024 Total funds lTrcorne and endovmients Donations and legacie5 Other tradin9 activities Total incorne 2,500 2.500 3.553 697 2,500 2.500 4,250 Expenditure Expenditure on charitable aGtiwtie$ Totsl exp?ndlture (11,3551 (11,3551 (11,355) 111,355) 5,432 5,432 Net incomel{expenditurn) and net movqrnent in fvnd5 13,855 13,855 (1,182) Reconciliation of funds Total funds brought forward Total funds carriod fonyard (15.655) (1.800) (15.8551 {1.800) {14.473) (15.655) The statement of financial actrvtties includes all gn$ and Josses recognised in the year. All income and expenditure dertve frorn continuing actÈvities. The notss on pages B to 13 fomi part ofthese fftnanclal statements.
Spectrum Centre Trust Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Current assets Cash at bank and in hand 480 1,355 Creditors: amounts falling due within one year Net current liabilities 12 2,280 17,010 1,800 (1.800) 15,655 Total assets less current liabllities (15,655) (15,655) Net liabilities (1,800) Funds of the charity Unrestricted funds (1,800) (1,800) (15,655) (15,6551 Totsl charity funds 13 For the year ending 31 March 2025 ihe charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small Companies. Directors, responsibilities= The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476" The directors acknowledge their responsibilrtres for comptying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have bn prepared in &cordance with the provIsnS applicable to companies subject to the small companies. regime. These financial statements were approved by the board of trustees and authorised for issue on 7 October 2025, and are signed on behalf of the board by: Mr J S Redpath Trustee The notes on pages 8 to 13 forni part of these financial statements.
Spectrum Centre Trust Company Llm ited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entty and a private company limited by guarantee, registered in Northem Ireland and a registered eharity in Northem Ireland. The address of the registered office is 331 Shankill Road. Belfast, BT13 3AA ststemént of compliance These financial statemerbts have been prepared rn compliance wth FRS 102, The FinanGial Reporting Standard applicable in the UK and the Republic of Ireland., the Stalemenl of Recornmended Practice applicable lo tharities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {Charrties SORP IFRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical ¢o$t basis. as mOdifd by the revaluation of certain financial assets and liabilitres and investment propeities measured at fair value through income or expenditure_ The financial statements are prepared in sterling, which is the funcfional CurrerY of the entity. Going concern There are no material uncertarnties about the tharitys abilty to continue. Judgements and key sources of estimation uncertainty The judgements (apart from those in¥olwng estimations} that management has made in the process of apptying enth"ty's accounting policies and that have the most 5ignifi¢ant effect on the amounts recognised in the financial statemenls are a5 follows". Fund accounting Unrestricted fvnd5 are avadable for use al the discretion of the tfustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitmenL Restricted fijnds are subjected to restrictio$ on their expendiiure declared by the d(Or or through the temis of appeal. and fall irrto one of sub<lasses: restricted income funds or endowment funds.
SpeGtrum Centre Trust Company Llmfted by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 A¢¢ounting policies fcvnlinued) Incoming rnsources l incoming resources are induded in the statement of financial activib.es when entillernent has passed to the ¢harity.- il is probable that the economic benefits associated with the transaction ill flow to the charrty and the amount can be reliably measured. The following spectfic policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be ffaSured rdiabty- legacy income is recognised when receipt is probable and entiuement is established. income from donated goods is measured at the fair value of the 9oods unless this is impractical to measure reliabty. in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and seNices are reccfvjnised in the accounts when reiVed if the value can be reliably measured. No amount5 are included for the contribution of general volunteers. income from contracts for the suppty of servlces is recognised with the delivery of the contraGted service. This is dassified as UnStrICted funds unless there is a conlraclual requirement for it to be spent on a partilar purpose and returned rf unspent, in which case t may be regarded as restrbcled. Resources expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be frjlly recovered. and is classified under headings of the statement of financial activities to which tt relates: expenditure on raisin9 funds indudes the ts)sts of all fundraising actsv1ts. events. notKharitable trading acb'vylies. and the sale of donated gocrfJ5. expenditure on charbtable actsvitses includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of rts beneficiaries. including those 5UPPOrt costs and costs relatsng lo the govemance of the charity apportioned to Charitable activrties. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on Gharitable xtivitses. All costs a allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single aclivity are allOted directly to that activtty. Shared costs are appOoned beeen the activities they contribute lo on a reasonable. justifiable and consistent basis. Finan¢lal Instruments A financial asset or a financial liabiliiy is recognised only when the charity becornes a party to the contrathual provisKins of the instrumenl.
SpeGtrum Centre Trust Company Limtted by Guarantee Notes to the Financial Ststements (conllnuedj Year ended 31 March 2025 Accounting policies (continued) Financial instruments (cuntinuedj Basic financial instruments are inibally recogni8ed at the amount receivable or payable induding any related transaction costs. Current assets and current liabilities are subsequentty measured at the cash or other consideration expeded lo be paid or received and not discounted. Debt instruments are subsequentty measured at amortised cosL Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the Investment is Subsequent measured at fair value with changes n fair value recognised in income and expenditure. All other such inve5trnents are subsequently measwed at ost less impaimient. Other finanelal instruments. induding derivative5. are Initialty recognlsed at fair value. unless payment for an asset is defeffed beyond noal business tems or financed at a rale of interest that is not 8 market rate. in whieh case the asset is measured at the present value of the fuiure payments discounted al a market rale of interest for a similar debt instrument other financial instruments are subsequentty measured al fair vatue, with any changes reco9nised in the statement of financial activities. with the exception of hedging instruments in a designated hedglng relationship. Financial asset5 that are measured at cost or amortised cost are revtewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment. an impaimient loss is recognised under the appropriate heading in the statemenl of financial activilies in which the inits'al gain vras recognised. For all equity instruments regardless of gn¢ace, and other financial assets that are individually signfficant. these are assessed indNidualty for impairment. Other financial assets are either assessed individualty or grouped on the basis of similar credit risk characleristi¢s. Any reversals of impairment are Tecognised immediately. to the extent th* the reversal doe5 not result in a carrying amount of the finaneial asset that exceeds what the carrying amount would have been had the impaimient not previousty been recognised. Lirnitsd by guarantse The company. being a compary limited by guarantee. does not have share capital. The Ilability of members ofthe company lonited to £1 per wnember. Donations and legacies Unrestrirted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Grants Grants receivable 2,500 2.500 3.553 3,553 10
Spectrum Centre Trust Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2025 Other trading activities UnreStled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Other trading income 697 697 Expenditure on charitsble activities by fund type UnrestrKted Total Funds Unrestricted Total Funds Funds 2025 Funds 2Q24 Charitable Activities Support costs (13.759) 2.404 (13.759) 2,404 2.909 2,523 2,909 2,523 (11.355) (11.355) 5,432 5.432 Expendlture on Charitable activlties by activity type Activities undertaken directly Support costs Tolal funds 2025 Total lund 2024 Charitable ActivitEs Governance costs (13,759) 124 2.280 (13,635) 2.280 3,038 2,394 (13.759) 2,404 (11.3551 5,432 Analysis of support costs Analysis of support eosls Totsl 2025 Total 2024 Finance costs Governance costs 124 2.280 124 2,280 129 2.394 2,404 2,523 10. Independent examination fees 202S 2024 Fees payable to the independent exarniner for= Independent examinat1 of the financial statements 2280 2,390 11. Trustee Temunerdtion and expenses No renumeration or other benefts from employment wilh the chaTity or a related entity were re¢eNed by the trustees IPY'.nil). 11
Spectrum Gentre Trust Company Limited by Guarantee Notes to the Financial Statements (¢gnlinvqdJ Year ended 31 March 2025 12. Creditots: amounts falling due within one year 2025 2024 Trade credrtors Arnounts owed lo group undertakings AccrLFals and deferred income Social security and other taxes 480 2,280 2,394 11.856 2.280 2,280 17,010 13. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2024 Ineome Expenditure Transfers General funds (15,655) 2,500 11.355 {1.800) At 31 Marth 202 1 April 2023 Income Expenditure Transfers General fun¢ts (14.492) 4.250 (5.432) 19 (15,65SI 14. Analysis of net assets between lunds UnStriCted Totsl Funds Funds 2025 Current assets Creditors less than 1 year Net liabilities 480 {2.2801 (1.8001 480 12.280) {1,800) Unrestricted Tot Funds Funds 2024 Current assets Creditors less than 1 year Net liabilities 1,355 (17.010) (15.655) 1,355 {17,010) {15,655) 15. Ethical 5tandard$ In common with many other businesses of our size and nature we use our auditors to prepa and submit retums to the tax authorities and assist with the preparation of the financial statements. 12
Spectrum Centre Trust Company Limited by Guarantee Notes to the Financial Statements (¢ontinued) Year ended 31 March 2025 16. Taxation The Company is a registered charity. and as such is entitled to tax exemptions on income and profits in furtherance of the charrty's primary objectives. 17. Contingencles A contingent liabiltty exists to repay grants and Trust monies reIved Should certain conditions not be fu111ed by the charity. In the opinion of the Trustees. the temis of the Letters of Offers have been. orwill be. complied with and no fiability is expected. 18. Related parttes Greater Shankill Partnership Property Development Co. Limited Greater Shankill Partr¢efsip Property Development Co. Limited C'GSPPD") is a wholly owned subsidiary of GSP. Nature of transaclions during the year. 2025 2024 19. Controlling party Spectrum Centre Trust is a wholly owned subsidiary of Greater Shankill Partnership. a company limited by guarantee, registered in Nothem Ireland and a registered Charity in Northern Ireland. The address of the reglstered office 1$ The Spectrum Centre. 331-333 Shankill Road. Belfast, BT13 3A 13