REGISTERED COMPANY NUMBER: N1015556 (Northern Ireland) Rfi GISTERED CHARITY F4UMBER: 102202 Trustee5' Report and Financial Statements ror the Year Ended 31 March 2023 for SPRINGVIELD CHARITABLE ASSOCIATION LIMITED M.B.Mc Grady & Co Chartered Accountants Stathtory Auditors Ratbmor¢ House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS
SPRll¥GFIKLD CHARITABLE ASSOCXATION LIMITKD Contents of the Flnancial StatemeDts FOR THE YEAR ENDED 31 MARCH 2023 Page Trustees, Report Rtport of the Independent Auditors Stat¢ment of Finanei21 Activities statement of Financial Position io Statement of Cash Flows Notes to the Statement of C4sh Flows 12 Notes to the Finanelal Statements 13 to 21
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Trustees, Report FOR THE YEAR ENDED 31 MARCH 2023 The trustees who are also directors of the charity for the putyoses of the Companies Act 20061 present tlleir report with the fanCIal statements of the Gharity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reportkng by Charities: Statement of Recommended Practice applicable to charities preparÈng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The principal activity of the company continued to be the provision of support, care and advice to help social inclusion primarily in the area of West Belfast. The company achieved it's objectives by providing day care support to elderly people, providtng specialist advice through it's advice centre and by th¢ operation of its charitable shops. Public benefit The Trustees of Springfield Charitable Association have llY complied with the Public Benefit requirements as set out in the Charity Commission for Northem Treland's stathtory guidance on public benefit. Springfield Charitable Association aims to improve the quality of life for those living in the district of Springfield by providing the following; - Advice centre Second hand retail outlets - Volunteer programmes Day centre activities for older people Social isolation can be found in people of all ages, regions, countries and societies. Equal access to services is important and Springfield Charitable Association Limited has an equal opportunities policy and diversity statement which ensures that it has & culture of equal access to its servi¢¢s regardless of disability, gender, religious belief or sexual orientation. The trustees believe equal access to its services is vital to its success, and that successful outcomes must be shared by all communities tbat use its services. STRATEGIC REPORT Achievement and performanee Tbrough its day care, retail and advice activities the company has perfomed well and contributed both fman¢ially and socially to its local enviromnent. The impacts of th¢ Coronavirus pand¢mic continued to affect the charity's achi¢vements, however its performance in the Current year has been in line with the the objectives set by the trustees. FiD#neial revieiv inancial positlon The ¢harity's f]nancial position is reviewed on a monthly basis by the board. The chartty ha5 an annual audit perforn]ed by an extemal auditor. The ¢harity income for the 2023 year was £480,022 (2022 - £526,879) and the expenditure was £524,405 (2022 - £511,507). The charity also benefited from a write down on ils loan owed to a related paty charity Springfield Chaiilable Developments Ltd, which in turn results in a surplus of £155,617 in the year. Net assets at the year end hv4V¢ increased from £1,018,787 to total £1,174,404 at the year end. Princlpal funding sources The principal ndIng sources for the ¢harity are currently by way of grant income as set out in note 2 in the accounts together with shop and other charktable activity income as detailed in note 3. Investment policy and objectives A clear objective is, when possible, to put operating surpluses into reserves each year, however this has proved difficult in the past few years. Having considered the options available, the Trustees have decided that any reserves should be invested in secure bank deposits. The Trustees consider the over811 return on deposit accounts to be disappointi but are not willing to place valuable resources into riskier investmenls.
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Trustees, Report FOR THE YEAR ENDKD 31 MARCH 2023 STRATEGIC REPORT Financial review Reserves policy The trustees recols¢ that it is necessary to hold reserves in order to offset the effects of fluctuation on incoming resources and thereby secure the continued viability of the Charity beyond the immediate fvre. In keeping with good accountancy practice, it is the aim of the charxty to hold free reserves which equate to three months operating costs. In conjunction with its related charity, Springfield Charitabl¢ Developments Ltd, the free reserves exceed three months operating costs. Future plans The company intends to continue its socio-¢¢onomic development through the continued provision of support, care and advice to the area. The company has completed the renovation of the premises at Cupar Street which were bought by Springfield Charitable Developments Ltd, a company with Common trustees, It is intended that these premis¢5 will be 11sed to continue to develop its services to th¢ community going forward. STRUCTURE, GOVERNANCE AE4D MANAGEMENT Governlng document Springfield Charitable Association is a company Itmllted by guarantee which was incorporated on 25th February 1982. It was registered as a charity With the NI Charity Cornmisston as from 19th June 2015. Recruitment and appointment of new trustees Du¢ to the nature of the charity's work the trustees seek to ensure that these needs are appropriately reflected through the diversity of the trnstee body. To enhanc¢ the potential pool, trustees are r¢qu¢sÉcd to provide a list of their skills (and update it each year) and in the event of particular skills lacking or being lost due to retirement, individuals are approached to offtr themselves for election. Organlsational strueture The company is govemed by a Board of Trustees which operates as detailed in the company's governing document, the Memorandum and Articles of Association. The trustees are directly responsible for the d&y to day management of the charity and they meet on a monlhly basis to review all aspects of the charity. The committee is made up of a number of both long serving and more recent members with a shared vision, commitment and passion for achieving the objectives gf the organisation. Members come with a rang¢ of skills crucial to the management of the organisation. To facilitate effective operations, the board has delegated authority of operational matters such as finance, employment and the delivery of its training objectives to the charity's senior managers. Induction and training of new trustees New Trustees are briefed on their legal obligations under charity and company law, the content of th¢ Memorandum and Arti¢les of Associatton, the committee and decision makÉng processes, the business plan and recent fmancial perfomJan¢e of the charity. They meet key employees and other Trustees. The Trustees and management committee are encouraged to attend appropriate external training events where these will facilitate the undertaking of theiT role. Key management Yemuneration The setting of the pay and remuneration of the key management perso1e1 is delegated to the Remuneration Committee, made up of several trustees. Related partles The charity is related to another charity namely Spi'ingfield Charitable Developments Ltd in that they have corrLmon trustees and the prop¢ty used by this charity is owned by Springfield Charitable Developments Ltd. REFERENCE AND ADMINISTRATIVK DETAILS Registered Company nurnber N1015556 (Northern Ireland)
SPRGFIELD CHARITABLE ASSOCIATION LIMITED Trustees, Report FOR THE YEAR ENDED 31 MARCH 2023 Reglstered Charlty number 102202 Registered office 27 Clonard Crescent Belfast Antrim BT13 2QN Trustees V Davidson C Canavan M Flynn (resigned 11412023) A JohDston G Kelly (resigned 511212022) T Kemaghan (appointed 4nr2022) B McGrath T Meehan (resigned 511212022) J Sweeney Mrs C Rodgers (appointed 511212022) G Kelly (appointed 151612023) Company Secretary B McGrath Auditors M.B.Mc Grady & Co Chartered Accountants Statutory Auditors Rathmore House 52 St Patricks Avenue Downpatrick Co, Down BT30 6DS Banker$ Ba]]k of Ireland 202 Andersonstown Road Belfast BTII 9EB Sollcitors Ferguson & Co Causeway Tower 9 James Street South Belfas¢ BT2 8DN TRUSTLI ES, RESPONSIBILITY STATEMENT The trustees (who are also the dire¢tors of Springfield Charitable Association Limited for the purposes of company law) are responsible for preparing the Trustees, Report and the fmancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
SPRINGFIELD CHAIUTABLE ASSOCIATION LIMITED Trustees, Report FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEEI S, RESPONSIBILITY STATEMENT- contlnued Company law requires the trustees to prepare financial stateInent5 for each fmancial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those fmancial statem¢nts, the trustees are required to select suitable accounting policies and then apply them conslstently. observe the methods and prin¢iples in the Charity SORP. make judgements and estimates that are reasonable and prudent. slate whether applicabl¢ accounting standards have been followed, subject to any material depathres disclosed and explained in the fmancial statements. prepare tbe fmancial statements on the going concern basis unless it is inappropriate to presume that the charitable Company will conttnue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the ftnancial position of the charitabl¢ company and to enable them to ensure that the fmallcial statements comply with the Companies Act 2006. They are also respoJ]sible for safeguarding the assets of the ¢harilable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit inforniation of whi¢h the charitabl¢ ¢ompany's auditors are unaware, and the trustees have taketl all steps that tbey ought to have taken to make themselves aware of any relevatht audit infonnation and to establish that the auditors are aware of that infonnation. Auditor Each of the persons who is a trustee at the date of approval of this report confjnns that: so far as they are aware, there is no relevant audit infonnation of which the charity's auditor is unaware of. and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infonnation and to establish that the charity's auditor is aware of th&t informatioTh. SMAII eompany provtslons This report has beell prepared in ac¢ordance with the provisions applicable to companies entitled to the Small ¢ompanie5 exemption. AUDITORS The auditors, M.B.Mc Grady & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting. Trustees, report, incorporating a strategi¢ report, approved by order of the board of trustees, as the company directors. on 17 August 2023 und signed on the board's behalf by: B McGrath - Seoretary
Report of the Independent Auditors to the Trustee5 and Members of Springfield Charitable Association Limited Opinion We have audtted the financial statements of Springfield Charitable Association Limited (the 'charitable company,) for the year ended 31 Mawh 2023 which cornprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to th¢ fmancial stateinents, including a summary of significant accounting policies. The fmancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Ac¢ept¢d Accounting Practice). tn our opinion the fmancial statements: give a true and fair view of the state of the charitable compangs affairs as at 31 March 2023 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended. have been properly prepared in accordance wkth United I<ingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the fmancial statements section of our report. We are independent of the ch8riÉable company in a¢eordance with the ethical requirements that are relevant to our audit of the fmancial statements in the UK, tn¢luding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these Tequirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Coneluslons relating to goRng concern En auditing the financial statements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the fmallcial 5tat¢menls is appropriate. Based on the work we have perfornied, we hav¢ not identified any material un¢¢rtainties relating to events or conditions that, individually or collectively, may cast significant doubt on the cbaritable company's ability to continue as a going concern for a period of at least twelve months from when the fmancial statements are &uthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going Concern are described in the relevant sections of this report. Other Informatlon The trustees are iesponsible for the other information. The other infonn&tion compris¢s the Information included An the Annual Report, other than the fmancial statements and our Report of the Independent Auditors thereon. Our opinion on the fmancial slatetnents does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. In connection with our audit of the fmancial statements, our responsibility is to read the other infomation and, in doing so, consider whether the other infonnation is materially inconsistent with the fmancial statements or our knowledg obtained in the audit or otherwise appears to be materially misstated. If we identify such material in¢onsist¢ncies or apparent material misstatements, we are r¢quired to detenniTL¢ whether this gives ris¢ to a material misstatement in the fmancial statements themselves. If, based on the work we have perfonned, we ¢on¢lude that there is a material Tnisstatement of this other inforn]ation, we are required to r¢port that fact. We have nothing to report in this regard. Oplnions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Report for the fmancial year for which the fll]ancTal statements are prepared is consistent with the fjnancial statements. and th¢ Trustees, Report has been prepared in accordance with applicable legal requirements,
Report orth¢ IndependentAuditor5 to the Trustees and Members of Springfield Charitable A550eiAtion Limited Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitabl¢ company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or retums adequat¢ for our audit hav¢ not been re¢eived from branches not visited by us, or tbe fmancial statements are not in agreement with the accounting records and returns; or certain disclosures of trust¢es' remuneration specified by law are not made. or we have not r¢¢eived all the infonnation and explanatkons we require for our audit. Respousibilities of trustee5 As explained more fully in the Trustees, Responsibilities Statement, the trustees {who are also the directors of th¢ charitable company for th¢ purposes of company law) are responsible for the preparation of the ftnancial statements and for being satisfied that they giv¢ a trne and fair view, and for such intemal control as the trustees determine 15 necessary to enable the preparation of fmancial statements that are free from material misstatement, whelber du¢ to fraud or error. In preparing the fmancial stat¢m¢nts, the trustees are responsible for assessing the charitable ¢ompanls ability to continue as a going concern, dis¢losing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees ekther intend to liquidate th¢ Charitable company or to cease operations, or have no realistic alternative but to do so.
Report of the Independent Auditors to the Trustee5 and Member5 of Springfield Charltable Association Llmited Our respon5ibilitles for the audit of the financlal st&tements Our obj¢¢tives are to obtain reasonable assurance about whether the fmancial statements as a whole are frce from material misstatement, whether due lo fraud or error, and to Issue a Report of the Independeni Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordanc¢ with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or errot and are considered material if, Individually or in the aggregate, they could reasonably be expected to influen¢e Éh¢ economtc decisions of users taken on the basis of these flnancial statements. The extent to whi¢h our procedures are capable of detecting irr¢gularities, including fraud is detailed below., Our approach to identifytng and assessing the risks of material misstatement in respe¢t of I¢gularItIes, including fraud and non-complian¢e with laws and regulations, was as follows- the engagement partner ensured that the engagement team collectively had the appropriat¢ ¢ompeten¢e, Capabilities and skills to idenlify or recognise non-compliance with applicable laws and regulations. owe identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the computer component manufa¢thring and supply sector. we focused on specific laws and regulations which we considered may have a direct material effect on the fman¢ial statements or the operations of the charity, including the Charities Act (Northem Ireland) 2008, taxation legislation and data protection, anti-brib¢ry, employment, environmental and health and safety legislation. we assessed the extent of ¢omplian¢e with the laws and regulations identified above through making enquiri¢s of management and inspecting legal ¢orresponden¢e' and identified laws attd regulations were ¢ommuni¢ated within the audit team regularly and the team remained alert to instances of non-compliance throughout th¢ audit. We assessed the suscepiibility of the charity's fLnancial statements to material mi5Statement. including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where tbey considered tbere was susceptibility lo fraud, their knowledge of aCal, suspected and alleged fraud. and considering tbe intemal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationships, t¢5ted journal entries to identify unusual transactions. assessed whether judgements and assumptions made in deterniining the accounting estimates set out in the notes were indicative of potential bias. and investigated th¢ rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance witb laws and regulations, we designed procedures which included, but were not limited to: agreeing fmancial statetllent disclosures to underlying supporting do¢wnentation' reading the tninutes of meetings of those ¢harged with govemance. and enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is ihat we would become aware of non-compllance. Auditing standards a150 limtt the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misst&temeTrts that arise due to fraud can b¢ harder to detect than those that aris¢ from eor as they may involve deliberate con¢¢alment or collusion. A fiTrther description of our responsibilities for the audit of th¢ fmancial Statements is located on the Financial Reporting Councll's website at www.frc.org.uklauditorsresponsibilities. This description font)s part of our Report of the Independent Auditors.
Report of the Independ¢nt Auditors to the Trustees and Members of Springfield Charitable Assoclation Limited Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are Tequired to stste to them in an auditors, report and for no other purpose. To the fvllest extent pennitted by law, we do not accept or assume responsibility to anyone other than th¢ charitable company and the charitable company's members a5 a body, for our audit work, for this report, or for the opinions we have fomed. Mala¢hy rady enior for and on alf ofM.B. Chartered Accountants Statutory Auditors Rathmor¢ House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS la cGr ory Auditor) dy&Co ao2S
SPRINGfiIELD CHARITABLE ASSOCIATION LIMITED Staternent of Financial Activltles FOR THE YEIIR ENDED 31 MARCH 2023 3113123 Total funds 3113122 Total funds Unre5triet¢d fund Restricted funds Notes INCOME AND KNDOWMENTS FROM Donations and legacies 236,772 152,561 389J33 455,202 Charitable activities Charitable activities 90,689 90,689 71,677 Other income 200,000 200,000 200,000 Total 527,461 152,561 680,022 726,879 XPENDITURE ON Raising funds 356,466 163,939 520,405 508,007 Charitable actiyltles Charitable activities 3,000 1,000 4,000 3,500 Total 359,466 164,939 524,405 511,507 NET INCOME/(KXPEP4DITURE) Transfers betiyeen funds 167,995 (9,016) (12,378) 9,016 155,617 215,372 17 Net movernent In funds 158,979 (3,362) 155,617 215,372 RECONCILIATION OF FUNDS Total fvnds brought fonvard 1,015,425 3,362 1,018,787 803,415 TOTAL FUNDS CARRIED FORWARD 1,174,404 1,174,404 1,018,787 The notes form part of these fanCIal statements
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED StAtement of Fin8neiAI Position 31 MARCH 2023 3113123 Total funds 3113122 Total funds Unrestrlcted fund Restricted funds Notes FIXED ASSETS Tangible assets li 1,402,448 1,402,448 1,433,064 CURRENT ASSETS Stocks Debtor5 Cash at bank 12 13 701 22,403 111,128 701 22,403 111,128 701 23,720 129,373 134,232 134,232 153,794 CHEDITORS Amounts falling due within one year 14 (336,496) (336,496) (532,421) NET CURRENT ASSETS (202,264) (202,264) (378,627) TOTAL ASSETS LESS CURRENT LIABILITIES 1,200,184 1,200,184 1,054,437 CREDITORS Amounts falling due after more than one year 15 {25,780) (25,780) (35.650) NET ASSETS 1,174,404 J,174,404 1,018,787 FUNDS Unrestricted funds Restricted funds 17 1,174,404 1,015,425 3,362 TOTAL FUNDS 1,174,404 1,018,787 The flnancial statements were approved by the Boai'd of Trustees and authorised for issue on 17 Au8USt 2023 and were signed on its behalf by: V Davidson- Trustee B McGrath- Trustee The notes fonn part of these financial statements io
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Statement of Cash Floiys OR THE YEAR ENDED 31 MARCH 2023 3113123 3113122 Notes Cash floivs from operating activitles Cash generated from operations Interest paid (1,798) (1,693) 11,213 (1,248) Net Gash (used in)Iprovided by operating a¢tivities (3,491) 9,965 Cash floivs from Investing activitie$ Purchase of tangible fixed assets Sale of tangible fjxed assets (5,121) (57,727) 500 Net cash used in investing a¢tivities (5,121) (57,227) Cash flow5 from flnancing activitles Loan repayments in year (9,633) (4,717) Net cash used in fmancing activities (9,633) (4,717) Change in cash and ¢8sh equivalent$ In the reporting period Cash and cash equivalents at the beginning of the reporting perlod (18,245) (51,979) 129,373 181,352 Cash and cash equivalents at the end of the reporting period 111,128 129,373 The notes fonn part of these fmancial statements
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Notes to the Statement of Cash Floivs FOR THE YEAR ENDED 31 MARCH 2023 RECONCILIATION OF NET INCOME TO f+lET CASH FLOW FROM OPERATING ACTIVITIES 3113123 3113122 Net income for the reporting period (a5 per the Statement of Financial Activities) Adjustments for: Depreciation ¢harges Profkt on disposal of fixed assets Interest paid Decreasel(in¢rease) in debtors Decrease in creditors 155,617 215,372 35,737 35,747 {324) 1,248 (8,167) (232,663) 1,693 1,317 (196,162) Net eRsh (used in)Iprovided by operations (1,798) 11,213 ANALYSIS OF CHANGES IN NET Fuf4DS At 114n2 Cash floiy At 3113r23 Net cash Cash at bat)k 129,373 (18,245) 111,128 129,373 (18,245) 111,128 Debt Debts falling due within l year Debts falling due after l year (9,633) (35,650) (237) 9,870 (9,870) (25,780) (45,283) 9,633 (35,650) Total 84,090 (8,612) 75,478 The notrs forni part of these fmancial statements 12
SPRINGFJELD CHAIUTABLE ASSOCtATION LIMITED Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Basis of preparing the financial st4tements The fmancial statements of the charitable company, which is a public benefit cntlty under FRS 102, have been prepared in accordance with th¢ Charities SORP (FRS 102) 'Accounting and Reportfftg by Charities: Statement of Recommended PractiG¢ applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Cornpanies Act 2006. The fjnancial statements have been prepared und¢r the historical cost convention. Crltlcal aecountlng judgements and key sources of estimatlon uncertainty Estimates and judg¢ments are continually evaluated and are based on historical experience and other factors, including expectations of fijre events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions conceming the ture. The resulting accounting estimates and assumptions will, by defmition, seldom equal the related actual results, No judgemenls (apart from those involving estimates) have been made in the process of applying the above accounting policies. The key assumptions Gonceming the future and key sour¢es of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount5 of assets and liabilities within the next financial year in¢lude: estimation of the use1 economic life of buildings* rnIture and office equipment, IT equipment; Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the 8mount can be measured reliably. Expellditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probabl¢ that a transfer of e¢onomic benefits will be required in settlement and th¢ amount of the obligation can be measured r¢liably. Expenditure is accounted for on accruals basis and has been classified under headings that aggregate all Cost related to the category. Where costs ca3]not b¢ directly attributed to particular head&ngs tbey have been allocated to activiti¢s on a basis Consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual Tates in order to write off each ass¢t over its estimated usefjjl life. Short leasebold Plant and machinery Fixtures and fittings Motor vehicles 2% oncost 250/0 on reducing balance 250/0 on reducing balance 250/• on reducing balance Stocks Stocks are valued at the lower of cost Hnd net realisabl¢ value, after making due allowance for obsolete and slow moving items. T#xatlon The ¢harity is exempl from corporation tax on ils charitable activities. 13 continued...
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Notes to the Finantlal Statement5 - eontxnued FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES - continued Fund accountlng Unrestricted funds can be used in accordance with th¢ charitable objectives at the discretion of the trustees. Restricted funds can only be used for p&rticulAr restricted purposes within the objects of the charity. Re5tri¢tions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and puryiose of each fjjnd is included in the notes to the fmancial statements. Hlre purchase and leasing eommitrnents Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Pension Costs and other post-retirement benefits The charitable company operates a defmed contribution pension scbeme. Contributioos payable to th¢ charitable company's pension scheme are ¢harged to the Statement of Financial Activities in the period to which they relate. DONATIONS AND LEGACIES 3113123 3113122 Donation5 GranÉs 27,453 361,881) 6,108 449,094 389,333 455,202 Grants r¢¢eived, included in the above, are as follow5: 3113123 3113122 Belfast City Council BHSCT Advice Nl Big Lottery Fund DFC social environment & Jobstart Govemment Grant Incom¢ BCC con)mullity building grant DFC Covid re¢overy ant DOrnTht accounts thd BCC Hydrotherapy grant Community Foundation grant Halifax grant Versus Aritbritis grdnt 68,002 152,562 4,000 10,000 54,136 81,057 144,264 13,478 42,175 15,442 19,500 133,178 13,000 33,680 6,500 5,000 5,000 10,000 361,880 449,094 14 continued...
SPRINGFIELD CHARITABLE ASSOCIATIOIY LIMITED Iyotes to the Financial Statements- eontinued FOR THE YEAR ENDED 31 MARCH 2023 INCOME FROM CHAIUTABLE AcfIviTIES 3113123 31nn2 Activity Charitable activities Charitable activiti¢s Charilable activities Shop income Other in¢ome Day Centre income 51,613 27,772 11,304 52,899 12,838 5,940 90,689 71,677 OTHER INCOM 3113123 31t3122 Related paty loan write down 200,000 200,000 CHAIUTABLE ACTIVETIES COSTS Support cost5 (see note 6) Charitable activities 4,000 SUPPORT COSTS GovernaD¢e costs Charitable &clLVlties 4,000 NET INCOMEIIEXPENDITURE) Net income/(expenditure) is stated after ¢hargingl(crediting)'. 3113123 3113122 Auditors, remuneration Depreciation- owned assets Staff training General expenses sU]us on disposal of fjxed assets 4,000 35,737 4,650 5,592 3,500 35,747 8,475 4,465 (324) 15 ontinued...
SPRINGFIELD CHARITABLE ASSOCIATION LIMITKD Not¢s to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES, REMUNEI RATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Within the year a trustee provided professional services to the charity and received payment to the amount of £2,000. The trustee stepped down from the board during this time. Trustees, ¢xpen5e5 There wer¢ no trustees, expens¢s paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. STAFF COSTS 31Dn3 3113r22 Wages and salaries Social 5e¢urity costs Other pension costs 305,412 18,434 11,089 331,357 20209 9,851 334,935 361,417 The average monthly number of employees during the year was as follows.. 3113123 3113122 Administration Caring & Advising Charitable 13 13 17 17 No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMEf4T OF FINANCIAL ACTIVITIES Unrestrleted fund io. Rtstrlcted funds TotAI funds INCOME AND ENDOWMENTS FROM Donations and legacies 297,460 157,742 455,202 Charitable #ctivities Charitable activities 71,677 71,677 Other income 200,000 200,000 Tot21 569,137 157,742 726,879 EXPENDITURE ON Raising funds 313,975 194,032 508,007 Charitable activities Charitable activities 3,500 3,500 16 continued...
SPRINGFIELD CHARITABLE ASSOCJATION LIMITED Notes to the Financial Statements- continued FOR THE YEAR ENDED 31 MARCH 2023 io. COMPARATNES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued Unrestrieted Restrieted fund funds Total runds Total 317,475 194,032 511,507 NET INCOMEI(EXPENDITURE) 251,662 (36,290) 215,372 RECONCILIATION OF FUNDS Total funds brought forward 763.763 39,652 803,415 TOTAL FUNDS CARRIED FORWARD 1,015,425 3,362 1,018,787 ii. TANGIBLE FIXED ASSETS Fixtures nd ritting5 Short leasehold Plant and machlnery Motor vehicles Totals COST At l April 2022 Additions 1,433,919 5,121 128,777 42J96 46,765 1,651,857 5,121 At 31 March 2023 1,439,040 128,777 42,396 46,765 1,656,978 DEPRECIATION At l April 2022 Charge for year 28,678 28,781 127,580 299 32,702 2,424 29,833 4,233 218,793 35,737 At 31 Mar¢h 2023 57,459 127,879 35,126 34,066 254,530 NET BOOK VALU At 31 March 2023 1,381,581 898 7,270 12,699 1,402,448 At 31 March 2022 1,405,241 1,197 9,694 16,932 1,433,064 17 conlÉnued...
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Notes to the Financial Statements - continued FOR THE YEAR NDED 31 MARCH 2023 12. STOCKS 3113123 3113122 Stocks 701 701 13. DKBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113123 3113122 Other debtors VAT Prep&yments and accrued income 12,322 4,680 5,401 l4,143 7,643 1,934 22,403 23,720 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 313 3113122 Bank loans and overdrafts (See note 16) Social security and other taxes Pension creditor Other creditors Accruals and deferred income 9,870 5,920 2,030 304,525 14,151 9,633 4,450 507,397 10,941 336,496 532,421 Is. CREDITORS: AMOUNTS FALLING DUE AwfER MORE THAN ONE YEAR 3113123 3113122 Bank loans (see note 16) 25,780 35,650 16. LOANS An analysis of the rnaturity of loans is given below: 3113123 3113n2 Amounts falling due within one y¢ar on demand.. Bank loans 9,870 9,633 Amounts falling due between two and five years: Bank loans - 2-5 yeays 25,780 35,650 18 continued,,.
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Notes to the Financial Stgtements- coiitinued FOR THI YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUNDS Net movement in fund5 Trxnsfers between funds At 3113123 At 114122 Unrestricted funds General fvnd 1,015,425 167,995 (9,016) 1,174,404 Restrleted funds BHSCT 3,362 (12,378) 9,016 TOTAL FUNDS 1,018,787 155,617 1,174,404 Net movement in llds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unre5tri¢ted funds General thnd 527,461 (359,466) 167,995 Reslrieted funds BHSCT 152,561 (164,939) (12,378) TOTAL FUP4DS 680,022 (524,405) 155,617 Comparatives for movement In funds Net movement in funds At 3113122 Ai 114121 Unrestricted funds General fuThd 763,763 251,662 1,0 15,425 Restricted funds BHSCT 39,652 (36,290) 3,362 TOTAL FUNDS 803,415 215,372 1,018,787 19 continued...
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUfitDS- continued Comparative net movement in thnds, included in the above are as follows: Incoming r¢sour¢es Resources expended Movement In funds Unrestricted funds General fund 569,137 (317,475) 251,662 Restricted funds BHSCT Advice Nl 144,264 13,478 (180,554) (13,478) (36,290) 157,742 (194,032) (36,290) TOTAL FUNDS 726,879 {511,507) 215,372 A Current year 12 months and prior year 12 months combined position is as follows: Net movement In funds Transfers between funds At 3113123 At 114ni Unrestrlcted funds General fund 763,763 419,657 (9,016) 1,174,404 Restricted funds BHSCT 39,652 (48,668) 9,016 TOTAL FUNDS 803,415 370,989 1,174,404 A ¢urreTht year 12 months and prior year 12 months cornbined nel movement in funds, included in the above are as follows,. Incomlng resources Resource5 expended Movement In funds Unrestricted funds General ,096,598 (676,941) 419,657 Restrleted funds BHSCT Advice Nl 296,825 13,478 (345,493) (13,478) (48,668) 310,303 (358,971) (48,668) TOTAL FUNDS 1,406,901 (1,035,912) 370,989 20 continued..
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Notes to the Financial Statements - continued FOR THE YEI AR ENDED 31 MARCH 2023 18. CONTINGENT LIABILITIES The charity receives grant income from various funding bodies. These antS are subject to various conditions and the charity reColiSeS a contingent liability to repay these grants should these conditions not be met. 19. RELATED PARTY DISCLOSURES The charity is connected to the charitable company Springfield Charitabl¢ Developments Ltd (SCD) and shares common ditectors, as such it is treated as a related party with 5am¢. During the year, Springfield Charitable Developments Ltd agreed to cancel £200,000 of its debt owed to it by Springfield Charitable Association Ltd (SCA). At the year end Springfield Charffttable Association Ltd owes the SCD charity £304,525. Springfield Charitable Association oc¢upies propety owned by SCD aThd paid Tent totalllng £37,920 in the year.During the year SCD made a donation to the SCA of £25,000 21