SPRINGFIELD CHARITABLE ASSOCLATION LIMITED Trustees, Report FOR THE YEAR ENDED 31 MARCH 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statemet)t$ of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to ¢harAties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND AcfiviTIES Objective5 and aims The principal a¢tivity 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 obj¢¢tives by providing day ¢are support to elderly people providing 5pe¢ialist advice through it's advice centre and by the operation of its charitable shops. Publlc benefit The Trustees of Springfield Charitable Association have fully Complied with the Publi¢ Benefit requirements as set out in the Charity Commission for Northern Ireland's statutory guidan¢¢ on public benefit. Springfield Charitable Association aims to improve the quality of life for those living in the district of Springfield by providing the folIowing; - Advice centre Second hand retail outlets - Volunteer prOammeS Day centre activtti¢s 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 equ81 opportunities policy and diversity Statement which ensures that it has a culture of equal access to its services regardless of disability, gender, reIigious belief or sexual orientation. The trus¢s believe equal access to its services is vital to its success, and that successful outcomes must be shared by all communities that use its s¢rYi¢es, STRATEGIC REPORT Aehievement and performance Through its day care, Tetail and advice activities the company has performed well and contrlbuted both fmanciaIly and socially to its local environment, The impacts of the Coronavirus pandemic continued to affect th¢ charity's achievements, however its perforniance in the current year has been in Ilne wtth the the objectives set by the trustees. Financial review Vinancial positlon The ¢harity's fmancial position is reviewed on a monthly basis by the board, Tb¢ charity has an &Twual audit perfomied by an ext¢mal 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 its loan owed to a related paty charity Springfield Charitable Developments Lid, which in turn results in a surplus of £l55.617 in the year. Net assets at the year end have increased from £1,018,787 to total £1,174,404 at the year end. Princlpal funding sources The principal funding sources for the charity are currently by way of grant income as set out in note 2 in the account5 together with shop and other Charitable aclivity income as detailed in note 3. Investment policy and obj¢ctives A clear objective is, when posstble, to put operating surpluses into reserves each year, however tbis has proved difficult in th¢ past few years. Having considered the optAons available, the Trustees have decided that any reserve5 should be invested in secure bank deposits. The Trustees consid¢r ihe overall retyrn on deposit accounts to be disappointing, but are not willing to place valuable resources into riskier investments,
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Trusteesl Report FOR THK YEAR ENDED 31 MARCH 2023 STRATEGIC REPORT Financial review Reserves policy The trustees recolse that it is ne¢¢ssary to hold reserves in ord¢r to offset the effects of fluctuation on incoming resources and thereby secure the continued viability of the Charity beyond the immediate future. In keeping with good a¢countancy practi¢¢, it is the aim of the charity to hold free reserves which equate to three monlhs operating costs. In conjunction with its related charity, Springfleld Charitable Developments Ltd, the free reserves exceed three months operating costs. Future plans The company intends to continue its socio-economic development through the continued provision of support, care and advÉce to the area, The company bas ¢oJnpleted the renovation of the premises at CupaT Street which were bought by Sprsngfield Charitable Developments Ltd, a company with common trustees, It is intended that these premises will be used to continue to develop its services to the community goiug forward. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument Springfield Charitable Association is a company limited by guarantee which was incorporated on 25th February 1982. It wa5 registered as a charity with the Nl Charity Commission as from 19th June 2015. Recruitment and appointment of new trustees Due to the nature of the charity's work the trustees seek to ensure that these needs are appropriately refle¢ted through the diversity of the trustee body. To enhance the potential pool, trustees are requested 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. Organisalional structure The company is governed 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 day to day management of the charity and they meet on a monthly basis to review all aspects of the ¢harity. The committee is made up of a number of both long serving and more recent members with a shared vision, commiÉmen¢ and passion for achieving the objective5 of the orgatjisation. Members come with a range of skills crucial to the management of the organisation. To facilitate effective operations, the board has delegated authority of operational matters 5u¢h as fmance, employment and the delivery of its training objc¢tives to the charity's senior mhn&gers. Induction and trainlng of new trustees New Trustees are briefed on Iheir legal obligatkoll5 under charity and company law, th¢ content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent fman¢ial perfonnan¢e of the charity, They meet key employees and other Trustees. The Trustees and management committee are encouraged to attend appropriate extemal training events where these will facilitate th¢ undertaking of their role. Key management Yemuneratlon The setting of the pay and remuneration of the key management personnel is delegated to the Remuneration Committee, made up of several trustees, Related partles The charity is r¢lated to another charity namely Springfield Charit&ble Developments Ltd in that they have common trustees and the propety used by this charity is owned by Springfield Charitable Developments Ltd. REFKRENCE AND ADMINISTRATIVE DETAIIS Reglstered Company number N1O15556 INorthem Irelalld)
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Trustees, Report FOR THE YEAR ENDXD 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 JolLUSton G Kelly (resigned 5112f2022) T Kernaghan (appointed 4no022) B McGralh T Meehan (resigned 511212022) J Sweeney MTS C Rodger5 (appointed 511212022) G Kelly (appointed 151612023) Company Secretary B McGrath Auditor8 M.B.Mc Grady & Co Chartered Accountants Statutory Auditors Rathmore House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS Bankers Bank of Ireland 202 Andersonstown Road Belfast BTI19EB Solicitors Ferguson & Co Causeway Tower 9 James Street South Belfast BT2 8DN TRUSTII ESI RESPONSIBILITY STATEMENT The trustees (who are also the directors of Springfield Charitable Association Limited for the purposes of company law) are responsible for preparing th¢ Trustees, Report and the fmancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Trustees, Report VOR THE YEAR ENDED 31 MARCH 2023 TRUSTEEI S, RESPONSIBILITY STATEMENT - continued Company law requires the trustees to prepare financial statements for each f]nancial year wbich give a true and fair view of the slate of affairs of the charitable Company and of the in¢oming resources and applt¢ation of resources, including the inctTrme and expenditure, of the charitable company for that period. In preparing those fancial slatem¢nts, the tNstees are required to select suitable a¢counting policies and then apply them consistently. observe the methods and principles in the Charity SOBP; make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the ftnancial statements. prepare the fulancial statements on the going concern basis unless it 15 inappropriat¢ to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accurary at any time the fman¢ial position of the ¢haritable company and to enable them to ensure that the fwan¢ial stal¢ments comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable 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 which tIL¢ charitable company's auditors are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevallt audit infornlation 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 Confms that: so far as they are awar¢, there is no relevant audit infonnation of whicb the Charitys auditor is unaware of. and they have taken all steps that they ought to have taken as a trustee to make themselves aw8re of any relevant audit information and to estabIish that the charity's auditor is aware of that infonnation. Small company provlslons This Teport has been prepared in a¢cordan¢e with the provisions applicable to cornpanies entitled to the small ¢ompanies exemption. AUDrroRS The auditors, M.B.Mc Grady & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting. Trustees, report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 17 August 2023 and signed on the board's behalf by,. B McGrath - Secretary