REGISTERED COMPANY NUMBEI R: NIQE5556 (Noi.tliei'n li'el2Dd) RIIGISTEI REI D CHARITY NUMBLI R: 102202 TRUSTEESI REPORT AND FINANCIAL STATRMENTS FOR THE YEAR KNDED 31sr MARCH 2025 FOR SPRtNGFIELD CHARITABLE ASSOCIATION LIMITED M,B.M¢ Grady 8c Co Cliai'l¢red Aceouiitants St&tutory Auditors Ratliinoi'¢ House 52 St Patricks Avenue Downpatrick Co. Dow BT30 6DS
SPIUNGFIELD CHARITABLE ASSOCIATION LIMITED coKrENTS OF THE FINANCIAL STATEMILNTS FOR THE YEAR ENDEI D 3Esr MARCH 2025 PAge Ti'ustees, Repoi't Repoi't ol the Ind¢peDdent Auditoi's 6 to 9 Statenient of Fln9nclo1 Activitles 10 St8tement of FlnRnciAI Position Stitement of Cash Flows 12 Notes to tbe Statement of Cash FIoivB 13 Notes to Ilie Flnanelal Statements 14 to 22
SPRKNGFIELD CHARtTABLE ASSOCIATION LImITD TRUSTfi ESI RBPORT IroR THEI YEAR NDED 31ST MARCH 2025 Tlie ti'ustees who al'e also dire¢tors of the ehai'ity foi. Ilie pui'poses of tlie Coiiipanies A¢¢ 2006, pi'esent Iheii, repoit wilh the financial statements of tlie Chai'ity for tlie year ended 3 1st MaYcl12025, The h'iTslees have adopted the provi8ioiis of Ae¢ountin8 and Reporting by Chavities: Statement ol R¢¢ominend¢d Practice applicable to ¢118rities pirpai'ing tlieir accouiils in a¢cordaiioe with Ilie Financial Reportittg Standard applic&ble in the UK and Republic of Ireland IFRS 102) (effe¢tive I lanuaiy 2019). OBJECTIVES AND ACTIVITIES Objectlves and aknns Tl)e pi'incipal activity of Il)e ¢onipany ¢ontinued to be tiie pi'ovision of suppoil ¢8re ai)d odvice to help social inclusion pi'iniai'ily in the ai'¢a of West Belfast. The ctsmpany a¢hieved it's obj¢ctives by pi'ovtding day cal'e suppoi't to eldei'ly people, pi'oviding speciolist advice thi'ou811 ivs advice centst and by the opei7lion of its charit&ble shops, Public benetlt Tbe Ti'ustees of Springfield Charitable Asso¢iation have fvlly complied with tlle Public Benefil Itquirements as s¢t out in the ChAI'ity Commission for Noit]iern Kreland's statutory guidahoe on publio benefit, Springfield Cl)ai'itable Association dims to iinpi'ove the quality of lift for those living tlie dists'iat of Spi'irtgfie]d by providit)g Ilie ftillowingi Advi¢e cenlir Second hand I'elail outlets - Volunteer programmes Day ¢¢nli'e a¢tiviti¢s for old¢r people Social isolatioD can be found in people of all ages, regions, countries and Societies. Equal a¢ce85 to seryices is impoitant aiid Springfield Charitable Association Llmited 118S at) equal oppoi%unilies policy and diversity slalement which en8LlI'es that it has a Culture of equal aesS to its sVIceS regaidless of disability, gendei., I'e5igious belief oi. sexual oi'ientation. The ts'ustees believe equal &¢¢ess to its seiyices ts vital to its success, and that success1 outcomes must be sliared by 811 coiiiniunities tliat use Its servi.
SPRINCFIELD CHARITABLE ASSOCIATION LIMITLI TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 STRATEGIC REPORT Achievements And pei'fonngnce ChAI'itible activities Acliievei))ents in th¢ y¢ai' 2024-25 liave beeii oversliadowed by the weight of fi$eal challenges of operating iii at wliat can be desci'ibed as fin und¢i'.fvnd¢d and unsupported lo¢al govei'ninenl environinent. Despite this backdi'op, we are agaiii ii)credibly piDud lo I'epoit the oulstai)ding effort and co-operation of the staff ènd volunl¢¢r8 who keep on giving more in support of the deliveiy of seivi¢es lo oui. cliei)ts in this ¢hallei?ging ¢nviioiiinenl. Part of oui. i'ole as trustees lo share witl) you tlie Il)riving iinpact tliat the wo1 of oui. stsff, volunteers ai)d cominitted management teat)? have delivei'ed in tlie past 12 months. None of which WOLTld be possible witliout leadevship) vislon and th¢ perpetual dedieation of the SCA Board of Trustees. Our work this ye8r has b¢en guided by oui. Sti'alegic Plan (2026) with delivery of stt'ategic &Gtions developing & cultui'e of te8m tog¢therness and a 'can do, appi'oach to both ¢halleng¢s Hnd OPPOLknnlties. In the last yew., we welcom¢d new board membei. Jiin Tate. Jim's background is in Care Practice and So¢ial Woi'k ivlih many years of expei'ience in Il)e development of wellbeing progr&mmes supportin8 vulnei'able p¢opl¢ artd theii. fan)ilies. Jiin bi'irtgs enhanced and divei'se capacity lo oui. leain and is adding valu¢ to tlie organisation with his skill s¢ts and knowledge. During the 2024-25 yeai,, Briaii McGI'ath resigned fi'om the Bo81'd to take up Ihe role of Honoi'ary President of the ehai'ity, Clai'e Can&vart also IE8ign¢d from tlie board. Tliere are many successes worthy of note in the 2024-25 yeai, including fi1 target achieveinenl of Day Centr¢ ott¢ndances, deliveiy of fvll ¢apa¢ity seivi¢e in liydrotlierapy. A major enabler In aoliievement of taiEets, particularly in Social Entei'pi'ise aetivities. lias been the transition to our Cirs¢ent Vitality commutti¢alion end marf<eting stl'81egy m8king us iiiore a¢cessibl¢ and relevant in the cui'rent operatlng enviiDninent for ¢liarities and Social tnlerprises. Oui. I'elationships widi partneis continued to grow witli legacy conknxcts I'etain¢d and new so¢ial entei'pi'ise hydiothei'apy eontt'a¢ls secuj'ed which positions us with less i'eliance on grant fvnding. This is altgned ivitl) our sti'ategic aints and it is IIIIPe17tive lo our swvival that we can plan and provid¢ foi. other revenue sli'eams wliich are esientid to address a chi'onic shortfall in l¢go¢y ¢onts'A¢t funding levels wliich continue lo op¢r8t¢ in deftcit. The focu$ of oui. work to d¢velop our So¢ial Erttei'pi'ise and continually pitoh foi. short project fvndiiig continues to preseiil sfftgnifi¢ant challertge foi. the oi'ganisation sin¢e these al'e not legacy skills Iliat exist within oui. sti'uctuirs resulting in ot)going doubts as to our resour¢es and capacity. FlnAndsl i'evleiv Flnaneial posltloii The cllarity's fiiianeial po$ilion is reviewed on a moA)dily basis by Ilie b08rd, The diarity has an aithual audit pei'ftimied by an external auditor. The ¢l)arity income for the 2025 yeai. was £560,472 (2024- £471,026) 8lld tl)¢ expertdilure was £626,956 (2024- £591,710) wliicli in i'esulis in an operating deficit of £66,484 in the yeai. (2024- £120,684). Its related paity, cl)aritsble compat]y Spriiigfield Charitable Developments Ltd i'educed its indebtedness due fi'om ttie cliai'lty by £75,000 in the yeai., leaving an ovei'all surplus of £8,516 Nel at tlie ye8]. end have increased fi'om £1,053,720 to total £1,062,236 at the yeai. ¢nd. PrlneipRI fuiidlng soui'ees The Princip funding wui'ces for the ¢hai'ity are ¢uii'ently by way of wxnt ]ftnie Is set out in note 2 in the accounts tO8eihei' witli sliop and other Ch.11&ble aclivity income as detailed ITh note 3. It 8180 reli¢s on ¢liaritable donations from Its IElated Ch'ttable company Springfield Chai'itable Developmaits Lid. Investment pollcy and objeetlves A clear objective is, when possible, to put operating surpluses into Irseives each y¢ar, howevei. Il)is has piDved difficult in the past few years. Haviftg ¢onsideitd the options availabl4 tlie Truste¢s liave decided that aiiy ieseives should be invesl¢d in secui'¢ bank deposits, Tlie Ti'uslees co1lder the overall reluin on deposit a¢counts lo be disappointing, but are not willing lo place viluable resources into riskiei, iftveslinents.
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED TRUSTIES, REPORT 17OR THE YEAR ENDED 3] MARCH 202S srRATEGIC REI PORT Fln&nciAI I'evieiv R&8ei'ves policy Tlie liteeS i'ecognise that it Is n¢¢e$sary tr) hold reseives in order to offset the effects of fluctuation ort inoon)ing r¢souires and thereby 5ecui'e the continued vi8bility of the Cliavity beyond the iiw))ediate fului'e. In keepiiig with good accouThtsn¢y practi¢¢, it is the 8iiii of the chai'ity to hold fire I'eseives whicli equate to d)I'ee montlis opei'alkng costs. In eoiiiui)¢tion witli ils related chai'ity, Springfield Chai'ilable Development8 Lid, who has pled8¢d to Support tlie ohai'ity, tlie free reserves exceed I1ce months opei'aling ¢0311, Futui'e plans Tl)¢ eODip8ny intends lo continue its socio-e¢onomi¢ d¢velopn)ent througli the continued provision of support, caie and advice to tlie area. Tlie ¢0inpany has conipleted the renovation of d)e pi'emises at Cupai. Street wliicli wei'¢ bougl)I by Spi'ingfield Chw'itable Developments Ltd, a ¢onipany with coinmon trustees. It is intended tl)at tl)ese premises will be used to continu¢ to develop its seiviw to the eoinmunity going foiward. srRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Springfi¢ld Chai'itsble Asso¢iation is a company liinited by guarantee which was incorpoted 01125th F¢bi'ugiy 1982. It was registered es a charity wtth the Nl Chaiity Commission as fiDnt 19tli Jun¢ 2015. Recrufilment gnd Appoiiitment of new trustees Due to the iiatuie of die ¢h21'ity'S wol'll the ts'ustees seek to ensure ihat these needs appropriately reflected IknDugh the diversity of Ihe tt'¢Jste¢ body. To enhwice the poteiitial pool, trustees 'C requested to pi'ovide a list of Iheii. skills (and update it each yeai-) and in the event of parti¢ular skills lacking or being lost due to I'etirenient, individuals are appix)Rched Èo offei. Iliemselves foi. ¢lectioii. Oi'ginlsgtlonal sti'uctui'e The coinpany is 8ovei.ned by a Bo8rd of Ti'ustees whicli opei'ales os detailed irt tile coinp8nl5 gOV.nIng docutnent, the Meiiiorandum and Articles of Asso¢ialion. The trustees al'e directly responslble foi. the day to day maoagement of the cliarity and they iiieet on a monthly basis to review all aspects of the chai'ity, The committee is made up of i niimber of both long seiving and more recent membei with a shaitd vision, commitment and passion foi achieving the objectives of the oi'ganisatlon. Membei's come witli 8 l'ange of skills rA'uelal to the man8geJnent of the organisation. To f8cilitate effective opei'ations, the board l)as delegated authority of opei'atlonal matteiE such as fiiign¢e, einployment aiid the deliv¢ry of its Ii'ainii)g obje¢tives to the charity's senior manag¢i's, Inductlon xiid ti'Èinlng of neiv trusttes NewTI'ustees al'e bi'iefed on tlieii. legal obligations under uliarity and conipaiiy law, tl)e content of the M¢rnorandum and Articles of Association, the committee aThd decision making piDcesses, Ilie busiiiess pl&tt and recent financial perfonnattce of the oliarity. They me¢1 key employees aiid oiliei. Tru8tees, Th¢ Trnstees and m3nagem¢llt coinmittee ar¢ en¢ouL8g¢d to at¢¢iid appropriate external training events where iliese will facilitate the undertaking of tlieir role. Key mAiiagement remuneratlon Tlie setting of the pay %1)d reittiiiieration of tlie key nianageiiient p¢isonnel is delegated to the R¢muneratioTh Committee, made up of sevejal ts'uslees. RelAted pai'tles The charity is related to another clrity nainely Springfield chl¢able Developments Ltd in tlif4t they liave common ti'uste¢s and ilie propw used by tliis ¢l)arity is owned by Spi'ingfield Cl)arithble Developments Ltd. REFERKNCE AND ADMINisfRATIVE DETAKLS Registered Company number NtO15556 (Noiihern Ireland)
SPRINGFIEI LD CHARITABLE ASSOCIATION LIMITED TRUSTEESI REI PORT FOR THCt YEAR CINDED 31ST MARCH 2025 Reglstered ClIArlty numbei. 102202 Registered office 27 Clonard Cirscent BelfBSt Anlrim BT13 2QN Ti'uslees V Davidson C Cafiavan (iesigned 271612024) A Johnston T Ilemaghan (i'esigned 171912024) B McGrnth (iesigned l 811012024) J Sweeney C Rodgers G Kelly <resigiied 301412025) A Mccracken (i¢sigfted 4112J2025) J Tate (appointed 271612024) Company Seci'etary J Sweeney M.B,Mc Gi'ady & Co Cl)avlered Acc011nlanls Statutory Auditois Roihmoi'¢ H0115e 52 St Palr&cks Avenue Downpalri¢k Co. Down B T30 6DS B#nliers Bank of li'el8iid 202 Andetsonstow) Road B¢lfast BTII 9EB Solieitoi's F¢i'guson & Co Causeway Towel. 9 James SbEet South B¢lf8St BT2 8DN TRUSTEES, RESPONSIBILITY STATEMENT The ts'ustses (who are also tlie dii'eclors of Springfield Chai'itable A5so¢iatioii Liii)ited foi. the puiyoses of compaiiy law) are responsible foi. preparing tl)e Trusleeg Repoit and the finan¢ial ststeinenls in a¢coi'dartce with applicable law and Unit¢d Kiiigdoin A¢¢ounting Stsndards (UDlted Kin8dom Genei'ally Accepted A¢counting Pi'acli¢e).
SPRINGfiIELD CHARITABLE ASSOCIATION LIMITED TRUSTEI ES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTE]ES' RESPONSIBILITY sfATEMKNT- contiiiued Compaiiy law vequii'es tlie trustees lo piEpare finaiici81 slaleinents foi. each financial yeai.. Under that law, the Iruslees have elected to pi'epsre the finlncial stsleinents in a¢¢ordan¢e with United Kingdoni Genei?Ily A¢¢epkd Accounting Pra¢lioe (United Kingdoin Accouilting Standai'ds and applicable law). Under cortlpony law the Ivustees must iiot approve the fit)an¢ial staten)ents unSess Il)ey aiE satisfied tlial iliey give 8 true atid fair view of tl)e slate of affaivs of tlie chw'ilable coiiipany and of the iijcoitting resollvces and appli¢ation of iesources. includirts Ihe iiicoine and ¢xpendituit, of the ¢118rilable ¢oinp&iy foi, t118t period. In prepariiig tl)ose financial statements. the ts'ustees ale I'equired to select suitsble accoLinting poli¢i¢s and then apply tliem ¢onsist¢ntly: ObVe ihe methods and pi'inciples in the Cliai'ities SOFTr. mgke judgeillents and estimates that al'e ieasonable and pi'udent. slats wbet]iei' applicable a¢¢ountirtg standards h8v¢ been followed, subject to any matei'ial depui#uYes disclosed and explained in th¢ finallcial slatements, pi'ep&r¢ Ilie financial staieinents on the going concern basis unless it is inappi'opriaie to presume that the chai'itable ¢omp&ny wlll continue in busirtess, Th¢ ts'ustees al'e I'esponsible foi, keeping pi'oper &ecouTrtirtg records which disclose with i'usonable accuracy at any liiii¢ the finai)cial position of the chai'itable conipany and lo eThable them lo ensure that the financial statetnent8 comply wffiih the Companies Act 2006. They are also i¢spoftsib5e for s&fe8uai'ding the assets of tlie oliw'itabl¢ coinpany )d lience for taking reasonable st¢ps for the prevention aiid detection of fraud and oilier iFregulai'ities. In so far as the tru$tee8 a¥e &ware: thei'e is no I'¢l¢vant audlt infomi8tion of which the c11.]tab1¢ company's 8uditoi's ai'¢ un&wair' and th¢ ti'ust¢es have taken all sleps that they ought to liave taken to make rf)¢m8elves aw41t of any rel¢v8nt audit infoi'matiort and to establish that the auditors al'e aware ofthat information. Auditor Each of tlie persons who is a trustee at the date of approval of this I'eport confirms that: so far as they are aw8iE, there is iio ¥elevant audit infomiation of whi¢h tl)e charity's auditor 15 unawai'e of. and they have taken dl steps that th¢y ought to hav¢ taken as a tt'ustee to mske themselv aware of any relevant audil infoj-niation and to establish tliat the charity's auditor is aware of diat infomiation. Smftll eompxny provisions This i'eport has been pirpared in aecoi'dance with the provisions applioable to compfjnies entitled to tl)e sniall compatties exeillption. AUDITORS Th¢ audilors, M.B.Mc Grady & Co. will be proposed foi. re-appointihenl at tije foithcotning Amiual Gen'aL Meetiiig, Trnstees, i'¢port, in¢okporating a strntegi¢ report, approved by oi'dor of the boai'd of ts'ustees, &$ the ¢oinpany directors. on 8th JaThiiaiy 2026 and signed OA the board's behalf by.. V Davidson- Trustee
REI PORT of¢ THE INDEPENDEI NT AUDITORSTO THE TRU1 ES AND MCIMBII RS OF SPRINGFIKLD CHARITABL£I ASSOCIATION LIMITII D Oplrtlon We have audited Ilie finan¢i41 statements of Spi'ingfield Cliai'itable Assooiation Limited {the 'chai'ilable company,) ftir Il)e y¢ar elided 3 Isl Mairli 2025 which coN)pi'ise the Sialeineiil of Financial Activities, the Stalement of Fino1?oi&l Position. Ihe SiateiDenl of C8sI) Flows and notes lo the fiiiancial slalements, iii¢luding a sUnn81.Y of sigrtificant accoiiiiting poli¢ie5. The financial repoiting frainewoi'k that l?as been applied in Ilieii. pvepai2tion is applicable law aiid Uiiit¢d Kii)gdoni A¢¢ouiiting Slandai'ds (United Kiijgdoiii Genei'ally A¢cepted A¢¢ounting Pi'&etice). Iii our opinion Ilie financial statemeiits: give a true and fail. view of Ilie slalc of Ille chai'itable co1)IpatiS affaii's as at 3 1st Mairh 2025 and of its incoming resoui'¢es and application of i'esovrees, including its income and expenditw'e, for tl)e year tl)en ended; have been PlDpei'ly prepared in a¢eoi'dan¢e witl) United Kingdoin Genei'ally A¢¢epted Ac¢ounting Pi'actice. and have b¢¢ft prepo1.ed in accoidance with the I'equiiEm¢nts of the Companies Act 2006. B8818 foi. opillio We eonducled oiir aiidit in accoi'daii¢¢ wkth Intoi'n&tional Startdai'ds on Auditing (UK) (ISAS (UK)) and 8ppli¢able law. Our rcsponsibilities under those standaids al'e fuithev described ii) the Auditoi's, i'esponsibilities for the audit of the finan¢ial statements se¢tioA of our report. We al'e independent of the cliaritable coinpany in accordan¢e willi the eÉhÈ¢al requiieinents that are relevant to out. audit of the financial statements in Ili¢ UK, Including the FRCS Bihi¢al Standard. aiid we liave fulfilled our other ethical i'esponsibilities iii acco19Ce wtih these requii'ements. We believe tlial the audit eviden¢¢ we liave obtained is suffjcienl and appropi'iale lo provide a basis for our opinion. Conelu&ions relAting to going coiieern In auditing the finan¢ial statements, w¢ hAve concluded Ili&t the ts'ustees, use of th¢ going eoi)cem basis of ac¢ounling in the pi'epaiatioit of tl)e financial ststemeiits is appropriate. Based on Ilie woi'lc we have pOi.led, we l?ave not identified any inaterial un¢ei'tainties relating to events or conditions t[t, individually oi. ¢ollectively, may cast significant doubt oil Ilie Chai'ilable company's ability lo ¢ottliniie a8 a gotng concern ftii. a pei'iod of at leL%t twelve months fiDm when the finaiieial statements li'e atsihoi'ised foi. issue, Oui. responsibilities and the responsibilities of the tsvstees widi i'espect to going concern al'e desci'ibed in the i'elevant sections of this i'epoit. Other Infoi'mgtlon The ti'uslees are responsible for tlie other infomiation. The othei. inform4lion ¢ompi'ises the inforlnation in¢luded in the Annual Repoit. othei. than the fin#rt¢ial statements and our Repoit of the Independent AuditotE thereon. Oui. opinioii on the fall¢la] stalemeiits does not cover the otl)ei' information and, exc¢pt to Il)e extent oiheiwise ¢xpli¢iily stated iii oui- i'epoi'l, we do not express any foiin of assuraii¢e Conclusion thweon. In ¢ono¢¢tion with oui. audit of tile financial st&teittents, ow. SponSibl]Ity Is to l'ead the oilier infotn)8tion 8nd, in doiftg so, coi)side]' wheiher tlie otliei. infoiTha¢ion is iiiatevially inconsistent witli tlie financial slaleinents or our knowledge obiain¢d in Ili¢ oudit or oilieii¥ise appeal% to be iiialeyially misstated. If wt identify such Inatei'ial ii)consislei)cies or appaiynt material misstatements, we ai'¢ I'equired to deteimine wliethei. this gives rise to a n)al¢i'ial n)isslateittent in the financial statenienls tliemselves, If, b&qed on the woi'k we have peioi'med, we con¢lude that thei'¢ is a material misslatom¢nt of diis othei. infoi'mation, we are i'eqiiii'ed lo irport that fact. We have nothing lo I'epoit irt dits IEgai'd. Oplnlons on otliei. mAtter8 pi'•seiibed by the cOmpRni A¢t 201J6 In our opinioii, based oil tlie woi'k ut)derlaken in the Course oethe audit.. tl)e inforinalion given in die Ti'ustees, Report foi. tlie financial year foi. which tlle financial stam¢nts Bi'e prep4iEd is eonsistent with the financial 5tatemeiits.' and the Ti'ustees, R¢poit has been prepared in accordance with applicabl¢ leg21 requireinents,
REPORT OF THE INDEPCI NDENT AUDITORS TO THE TRUSTKES AND MLI IICBERS OIF SPRINGfilELD CHARITAfsLE ASSOCIATION LIMITEI D Mgtteis on iyliicli we al'e requii'¢d to i'epoi't by exception In tlie liglil of the Icnowledge and undei'staAding of the charitable comp&ny and ils environment oblaiThed in di¢ couyse of the audit, we have not ideiilified matei'ial misstatements in the Truslees, Repoit. We liave iiotl)ing to I'epoit iii respect of die followig mattel's wheiE die Conipanies A¢t 2006 l'eqiiii'es us lo report to you if, in our opinion: adequals accountino i'ecoids hAv¢ not been kept or i'ettji'ns adequate foi. oui. audit have not been received fioin br&nclies not visited by ui. or tlie financial statements are not in alement witli th¢ accounting record5 aiid reluims. or c¢i'tain disclosur¢s of trustees, reniuneration spe¢ified by law ar¢ iiot made. oi, we Iiave not received all the infoi'mation and expl8nAtions we iEquiir foi. our audit, Re8ponsiblllti¢s of ti'ustees As explained more fiilly in th¢ Trustees, Responsibilities Statement, tlie tIStee$ (who aLe also the directo13 of tlie chai'itable coinpany foi. tl)¢ pui'poses of ¢oknpony Idw) aye I'esponsibEe for the preparation of tlie financial statements and for b¢ii)g satisfied that tl)ey give a bve and faiv vi¢w, and foi. sucli inlernal ¢oiitrol as th¢ trustees determille is necessary to enable the prepai'ation of financial statements that gl'e fr¢¢ froin mat¢rial Inisst&teinent. wlietl)er due to fi'aud or eri'or, In prepAving the finai)cial slat¢ments, the tYuslee$ al'e I'espoi)sible foi. asgessing the chAritablc company's ability to ntinue as a going conceyn, dis¢losin& as applicable, m&ttei's related to going coii¢ei'n and using tlie going COn¢'n basis of ac¢ountirtg un5¢ss the ts'uste¢s either intend to liquidate the chai'itabl¢ company oi. ¢0 cease opei'ations, or have no realistic alternative but to do so.
REPORT ofi THE INDEPENDllNT AUDITORS TO THIL TRUSTEI ES AND MEMBKRS OF SPRINGFIELD CHARITABLE ASSOCIATION LIMITED Our I'esponsibilities foi. tlie audlt of the finAnclAI stAteinentS Oui, objectives al'e to obtain ieasonable assuiance about wh¢ihei' the finaiicial slatemenls as a whole are fi'ee from niale¥ial misslalenient, wl)¢thei' due to fi'aud or ei'iDI', wid lo Issue a Repott of the llldepend¢nt Auditois Il)&t includes oui opinion. Reasonable assuyance is a high level of assurance, but is not a gua12ntee that an 8udit conducted in accoi'daiice witl) ISAS (UIC) will always dele¢l a nialei'ial misslateinertt when it exists. Misslalements can 8Yise fiYJiii fi'aud oi. ei'iDr Athd ore consideird niaterial if, individullly oi. in the aggi'eg8t¢, tliey Could i'eason&bly b¢ expected to ii)flueiice Ilie ¢conomi¢ decisions of users tsken OA the basis of diese firtancial slatein¢nl9. Th¢ extent to wliicli our pTrxedure5 are capable of delectii?g Iri'egularities, ii)cludit)g fraud is detailed below.. Ovr approacli to identifying and assessing the I'isks of n)atei'ial Inisstatement in respect of irregularities, includii)g fi?ud and non-conipliance with laws and regulations, was as follows: the engagement paitnei. ensui'ed tli8t th¢ en888¢ment t¢tt collectively had tlie appropriate competence, capabilities and skills to identify or recognis¢ nOnop1[ar1¢e wlth applicable laws arAd i?gulalion&' owe fftdenlified th¢ l&ws and I'egulations applicable to the chai'ity through discussiotts with trustees and othei. manag¢inenL and froin oui. commer¢i81 t(nowledge and experience of the computer ¢ompottent Inanufactui'ing and supply sector. we fo¢used on spe¢ifie1ow8 Hiid regulatio1 whicli we considei'ed may have a diiect material effect ort the finan¢ig1 statetnents or ti)e operations of the charity, Including the Chai'itles A¢t (Northei'rt Ii¢land) 2008, taxation legislation and dats prote¢tion, anli-bi'iberyj eniployinenl, ¢nviroiiinental and Iiealth and safety legislaliott, we assessed the extent of ¢ompliance with th¢ laivs and iegulations identified abov¢ iliiDugh making eiiquiries of management and inspecting legal correspondenc4 ond identified laws and Irgulalions weve comiiiunicated within the audit teani regulai'ly and the teaTn reEnain¢d alert to inststtces of non-¢ompliaiice througliout Ilie audit. We assessed tl)¢ $lleptibility of the chai'ity's fin1¢181 stslernents to Inaterial misslatemeiiL including obtaining an und'Stnding of liow fi7ud might occur, by: making enquiiA¢s of mgttag¢inent 8S to whei'e they Consided tkei'e was siweptibility to fi•ud, their knowledge of actual, suspected and alleged fl'aud. and consideL'iTtg tlie inteillai wntrols in place to initigate iisks of frBud and non-coinpliance with IAWS and regulations. To address the risk of fi*ud thifjugk Managllent bi85 and Override of ¢ontsDls, we; performed analytical procedures to iderttify any unusual or unexpected relationships, tested journal enl¥ies to identify unusual Iiansa¢ti0114 assessed whether judgeiments and assumptions i)iade in detei'niining t]ie accounting estlmates set out In tlle note$ wer¢ indicative of potential bias. and investigated tjie rationale behind sigDifAcanl 01- unusual traiisaclions. In respotlse to the I'isk of iiT¢gulaiities attd non-¢oinpliarTrce with laws and regulations, we degiw)ed piDcedu¥es wliicl) included, bul were iiot limitcd to: agi'eeing finan¢i81 statetnent disclosures to iindei'lying 5UPPOlting doeutnentatio i'eaditig the miniites of meetings of tl)os¢ ¢hwEed willi gov¢rnan¢e' and ¢nqiiiiThg of management as lo actual and potential litigation and claims. There ai% inlieitAI limitations in our audit pi'ocedure$ described above. Tlie mor¢ IEmoved that laws and regulations al'e froin financial tt'wisa¢tions, the less likely it is tl)at we would becom¢ awair of non-¢omplian¢e. Auditing staodards also liniit the audit proeeduies requiird lo identify non-cojnpliance with laws and i'egul&tion$ to enquiry of the directors And other m8nagem¢nt and the itpectIon of iEgulAtory artd legal coiiesponden¢e, if any. Matei'ial misstatements that alis¢ due to fi?ud con be hardei. to detect thAii those Iliat arise froni eiYoi- as tliey niay involve deliberate wneealment or collusion. A ltIler des¢riplion of our iesponsibililies for the audit of tlie finai)cial stateinenls ts located on tlie Financial Repoiting Council's website at www.fi'¢.org.uklauditoistespoDsibilitics. This description foi'ms pai'l of our Repoi't of the Independent Auditors.
REPORT OF THE INDEI PILNDfNT AUDITORS TO THE TRUSTEES AND MCI MBERS OF SPRINGFILI LD CHARITABLE ASSOCIATION LIMITEI D Use oloui. repoi't This I'epoit is made solely to the Gharilable company's inertibei's, as a body, in &c¢oThlaii¢¢ witli Chaptei. 3 of Pait 16 of the Companies A¢t 2006. Oui. audit woill has been undei'taken so that we Inight state to the cl)fti'itabl¢ compaiiy's members Iliose ii)att¢rs we al'e i'¢quiied lo slate to theii) in aft auditoi's, report and foi. no otiier pui'pose. To tli¢ fijllesl exltnl pei'mitted by law, Iv¢ do not accept or assume I'esponslbility to ?i?yone ot11. thali the cliaritable ¢oJllpany and the cliaiilable coihpany's menibei's 88 a body, for oui. audit woi'k, for this port, OL foi. the opinion8 we have fo¥nied. Malachy Izd Seni for and on b alf ofM.B. Cliaiteird Accoiirtlfints St&tutory Auditoi's RatliinoiE House 52 St Pali'icks Av¢nue Downpatrick Co. Down BT30 6DS tuloiy Auditor) 'ady & Co 9th January 2026
SPRINGFIELD CHAIUTABLfi ASSOCIATION LIMITKD STATCI MLNT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31sr iVlARCH 2025 2025 TotRI fuiids 2024 TotAI funds Uni'esti'leted Restt'icted nd fuiidg Note¥ INCOME AND ENDOWMENTS FROM Donalioiis and legacies 309,264 166,886 476,150 374,442 ChRI'it8ble Actlyitie$ Charitfible activities 84,322 84,322 96,584 Other iiieonie 75,000 75,000 Total 468,586 166,886 635,471 471,026 EXPENDITURE ON Raisitt£ fvnds 455,030 166,886 621.916 586.910 Cliai'itAble Actlvities Cliarilable activities 5,040 S,040 4,800 Tot81 460,070 166,886 626,956 591,710 NET INCOMEI(EXPKNDrruRE) 8,516 8,S16 (120,684) RECONCILIATION OF FUNDS Total ndS brought eorw81d I,OS3,720 1,053,720 1,174,404 TOTAL FUNDS CARIUED FORWARD 1,062,236 1,062,236 1,053,720 The iiotes foi'm part of these fiiianeial slatemertts 10
SPRINGFllI LD CHARITABLE ASSOCIATION LIMITED STATEM1 NT OF FINANCIAL POSITION 31ST MARCH 2025 2015 Total funds 2024 TotAI flliids Uni'estricted fund Resti'l¢ted fuiids Note5 FIXED ASSETS Taiigible assets 1,335,968 IP35,968 1,368.553 CURRENT ASSETS Stoeks Debtors C8sh at bank 12 13 701 8,812 25,957 701 8,812 25,957 701 11.616 27,423 35,470 35,470 39,740 CILEDITORS An)ounls falling due within one year 14 (303,916) (303,916) (338,912) NET CURRENf ASSETS (268,446) (268,446) (299,172) TOTAL ASSETS LESS CURRKNT LIABILITIES 1,067,522 1,067,522 1,069,381 CREDITORS Amounts f&lling due &ftei' mol'e than one year 15 (5386) (&286) (15,661) NET ASSETS 1,062,236 1,062,236 1,053.720 FUNDS Um'¢sliicted fijnds 17 1,062,236 1,053,720 TOTAL FUNDS 1,062,236 1,053,720 The financial st&tements were approved by the Boai'd of Trustees and ttuthoi'ised foi. issue on 8th January 2026 8nd were signed on its b¢half by: ,.knos5LK V Davidson- Ti'ustee Sween¢y- Trustee The iiotes forni part of these fiiiai)cial stslements
SPRINGFIEI LD CHARITABLE ASSOCIATION LIMITED STATEMENT OF CASH fiLOWS FOR THII YJIAR EINDED 31ST MARCH 2025 2025 2024 Note Cash floiys from opei'atlng aetlvlties Casli generated fiDm op¢ration8 Jnteirst paid 2,842 (1,190) (74,186) (1,449) Net cash provided byl(us¢d in) operating activities 1,652 (75,635) Cash flojvs fi'om Investlttg Aetlvltles Sale of taiigible fixed assets 7,001 1.800 Net cash provided by investing activities 7,001 1,800 Cssh floivs fi'om fln2nclng actlvltles Capital i'epayinents in year (10,119) (9,870) Net Casli used In financing aotivities (10,119) (9,870) Chinge In cash and cash equivalents in tlie i'epoi'ting pei'iod Casli Aiid cAsh equivalents at the beginnlng of the i*porting pei'iod (1,460 {83,705) 27,423 111,128 C%sli And cash equival¢nts At the eiid of the itpoi'ilng pet'lod 25,957 27,423 The notes fonn pai't of tliese financial stateinents 12
SPRINGFIELD CHAtUTABLE ASSOCIATION LIMITED NOTtI S TO THE STATCMLI NT OF CASH f¢LOWS FOR THE YEAR ENDED 31ST MARCH 2025 RECONCILtATION OF NET INCOMII(KXPEI NDITUREI ) TO NET CASH FLOW FROM OPERATING ACTIVITIE¢ S 2025 2024 Net Incomel(expenditui'e) foi, the i'epoi'tlng pti'iod (4s pei. the StRteinent of Fln8ncial Activities) Adjustments foi.: Depi'eciation ¢harge8 Profit on disposal of fixed assets Int¢i'est paid De¢i'ease in d¢btors (Decrease)lincre8$e in ci'editoi's 8,516 (120.684) 31,042 (398) 1,190 2,804 (40,312) 33,895 (1,800) 1,449 10,787 2,167 Net efisli pt'ovlded byl(wed In) oper8tlons 2,842 (74,186) ANALYSIS OF CHANGES IN NET FUNDS At l14n4 Cash flow At 3113ns Net C2811 C&sh at bonk 27,423 (1,466) 25,957 27,423 {1,460 25,957 Debt D¢bts falling due withln fi year Debts falling due aft. l yeay {10.119) (15,661) (256) 10,375 (10.375) (5,286) (25,780) 10,119 (15,66J) TotAI 1,643 8,653 10,296 Tlie notes ftl'ffl Pal't of these finaii¢i81 slatelnents 13
SPRINcfi IEI LD CHARITABLK ASSOCIATION LJf%llTED NOTES TO TH FINANCIAL STATEME¢ NTS IOR THE YEAR ENDED 31ST MARCH 202S ACCOUNTING POLICIES BASIS of pi'epAI'ing the fin2nci#l st%tements Tlie financial slalen)enls of the chai'itable coiiipany, which is & public benefit entity ui)d¢i' FRS 102, have beeii pi'epared in ateordance with th¢ Charities SOFTr (FRS 102) 'Ac¢ourkling aiid Reporting by Chai'ities,. Stalemertt of Reconimend¢d Pi'a¢tic¢ applicable lo charities prepai'ing Ilieir aceoullts irt accovdance with the Financial Reporting Standard applieable in Il)e Utl and Republic of tr¢laiid (FRS 102) (effective l January 20I9}', Financial Reportlll8 Standard 102 Ylie Financial Reporting Siatidard applicable in the UK and Republic of Iveland, and tl)e Companies Act 2006. Th¢ fii)an¢ial slatenients have beeii pi'epared urtdei. the liistoi'ical cost convention. Ci'itieRI fiecounting judgements And l(ey soui'ces of estlmlltion uncei'tainty Estimates and judgeni¢nls al'e continually evaluated and are based on liislorical expei'ien¢e and oihei, factoi's, including exp¢ctations of futtir¢ ¢v¢nls tliat are believed to be reasonable under ti)e ciiriimstances. The ai81'Aty makes estimates and assumpliotts concerning the futui'¢. The resulting accounting estimates ond assumptions will, by definitiott. seldom equal the itlaled ?¢tual i'esults. No judgements (apait from those involving esli1ates) have been Inade in the process of applying th¢ Bbove a¢¢ounting policies. The key assumptions concerning the futui'e and Icey soui'ces of estiniation of uncertainty at the reporling dale that liave a significant 118k of Causing a matei'iat adjustment to the oarrying Amounts of assets and liabilities wit]iin Ihe next financial year include: 4¢sliination of tlie useful economic life of buildings, furnitsre gild office equipiiieiit. IT equipnient; Income All Income IB I'ecognised In the Statsment of Finon¢ial Activities onc¢ the ch'ty entitlement to tile funds, it is pIDbable tliat Ilie incoine will be IE¢eived and the amount ¢an b¢ measured reliobly. Expendltui'e Liabilities are re¢ognised as expeiidilure as soon 0$ tl)ere is A le881 oi. ¢onstructive obligation committiiig the Charity lo that expelid1tu it ts probable tliat a itn$fei' of eeonomic benefits will be i¢quii'ed in settlement and the Flinount of the obligation caTr be measwed reliably. Expendlture is accounted for on an aeei'uals basis and has b¢en ¢lossified undei, headings that aggre8ate All ¢ost i'elated kn th¢ ¢ategory. Wliei'e eosts ¢atthot be dii'ectly atti'ibuted to parti¢ular l)eading3 they bave been allo¢aled to activities on a basis consistent with the use of iesoui'¢e5. Tngible fixed Assets Depre¢ialion is provided al tlie followiiig annual rdÉ¢s in ol'der to writ¢ off e3ch asset over its esliinated use1 life. Slioit leaseliold Plant and machineiy FixlLires and fittings Moloi. Yeliicles 2% on cost 25Oh on i'edu¢ing balance 25L/lo on i'educillg balan¢¢ 25010 on i'¢du¢ing balance Stoel(s Stocks are valued al the lower of cost and net Italisabl¢ value, aftei, nipking due allowance foi. obsolete and slow nioving items. Taxation The Ch.1ty is exempt froiii corpoi'atioii tax on its ¢harilable activities. 14 coi)tinued...
SPRINGFllli LD CHARITABLE ASSOCIATION LIMITED OTES TO THE FINANCIAL STATJLMENTS- contliiued FOR THE YLAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES- coiitinued Fund ptcounting Uiu'esti'ieled funds can be used in accordance witli the cli81'itabl¢ obje¢¢ives at the disci'etion of the bustees. Resli'icted fviads can only be used for pai'liculai. restricted pui'poseg within di¢ objects of the ¢liaiity. Restvietions alis¢ wl)en specified by the donor ov wlieii fitnds al'e i?ised foi. particulai- resti'icted puiposes. Fuitliei, explanation of llie natui'e and purpose of eY4clI fjjnd is included In the DOte$ lo tli¢ fiiJancial stateinents. Hlj'e pui'eliase find leaslng eommitmeiits Rentals paid undej. op¢i'atirtg leases are ch81.ged to tlie Statement of Financiol A¢tiv&ties on a sli'aight lin¢ basis over the p¢riod of tile lease. Penslon Costs and othei. post-retirement benefits The charitable company operates a defined oonti'ibution pension sclieme, Conlvibution5 payable to the charitable cofftpaiiy's pension scheme are cliai'g¢d to th¢ Slalement of Financi Activities in the period to whith they I'elale. Going Concern The ¢liai'ity is pr¢dicling its incom¢ irt the fothcoinillg year will irm8in signifjcantly below expei)diture. The charity is foir¢asling that irt th¢ eoming financial year it will irquire financial suppoit. Anti¢ipating this need it has sought and irceived assui'ances fi'om its related chai'itttble party. Spvingfield Charilable Developments Limited that when d¢ficit fvildiO is Irquii'ed it will be made available to the chai'Aty. DONATIONS AND LKGACIES 2025 2024 Donations Grants 149,639 326,511 73,042 301.400 476,15() 374,442 Gi'ants received, included in tl)¢ above, are as follows.. 2025 2024 B¢lfast City Council BHscr Advice Nt BLO Doi'mant &¢¢ounts fvnd Community Foiindation gi'ant Small grants ifteome Developing healthy ¢ommuftitie5 76,6n 166,886 4,000 37,814 33,394 6,270 1,475 65,837 156,418 4,000 37.436 32,759 990 3,960 326,511 301,400 15 continued,..
SPRINGfi IELD CHARITABLE ASSOCIATION LIMITKD NOTES TO THI FINANCIAL sfATEf¥lEI NTS- contiiiiied FOR THE YEAR ENDED 31ST MARCH 2025 INCOME fi ROM CHARITABLK ACTIVITIES 2025 2024 Activity Charitable activities Chai'itable activities Chai'ilable a¢tivilies Sliop In¢oine Other in¢ome Day Cenli'e incoine 14,948 46,284 23,090 44,146 38,901 13,537 84022 96.584 OTHER INCOME 2025 2024 Related pai'ty108n wi'iÈe down 75,0110 CHARITABLE ACTivrrIES cosrs Suppoi't eosts (see note 6) Charitable activities S,040 SUPPORT COSTS Govei'n8Doe costs Chai'itable activities 5,040 NET INCOMEI(EXPENDITURE) Net incomd{expenditui'e) is stated aftei. cllargingl('ed1tIng): 2035 2024 Auditors, i'emun¢i'ation DepiEciation- owned assets Stsff IraiDlI)g Genei'al expenses Surplu8 oil disposal of fixed assets S,040 31,042 780 1,567 (398) 4,800 33,895 1,567 (1,800) 10 coiilinLied...
SPRINGfi IELD CHARITABLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMEI NTS- contiilued FOR THK YEAR KNDLD 31ST MARCH 2025 TRUSTKESI REMUNJ£RATION AND BXNEI FITS There were iio liustees, I'eniunei'alion or oth¢i benefits foi. the year elided 3 1st Mai'ch 2025 noi. foi. llie year ended 3 1st Morch 2024. Ti'ust¢e$' expenses Irustees, expenses pdid for the yeai. ended 31st March 2025 nor foi. Ilie year ended Tliere were no 31st Mar¢h 2024. STAFF COSTS 2025 2024 360,802 22,807 14,658 Wages and salaries Social 5e¢w'ity costs Oth¢i' pension costs 402,616 24209 IS,438 442273 398,267 The avei*ge monthly number of employees during the ye8r was as follows: 2025 2024 AdininÉstration Cai'ing & Advising Ch8Lltable 13 13 17 17 No employees received emolunients in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIKS Uni'estslcted fuiid io. Resti'l¢ted fuiids Tol81 tbnds INCOME AND ENDOWMENTS FROM Donalions #Dd legacies 374,442 218,024 156,418 Chai.ItAble Aedvitle8 Cli.1t86le ac¢ivitie$ 96,584 96,584 3 I4,608 156,418 471,026 Total EXPLNDITURE ON Raising fvnds 430,492 156,418 586,910 CIIAI'ltable Actlvities Ch4Yilabl¢ activities 4,800 4,800 435292 156,418 591.710 Total NET INCOMEI(KXPENDITURE) (120,684) {120,684) 17 Colltinued...
SPRINGFIKLD CHARITABLE ASSOCIATION LIMITED NOTII S TO THC FINANCIAL STATEMEI NTS - coiitliiued FOR THE YCI AR ENDED31ST MARCH 2025 Jo. COMPARATIVES FOR THK STATEfvtENT OF FINANCIAL AcfiviTIES - continued Uni'esti'lcted Resti'icted fund funds Total fuiid5 RECONCILIATION OF FUNDS Total fimds biDvght forward 1,174.404 1,174,404 TOTAL FUNDS CARRIED FORWARD 1,053,720 1,053,720 ii. TANGIBLE FIXED ASSETS Flxtui'es and ritting8 Shoi't leAsehold Plant And macitln¢ry Motoi. vehlcles Totals COST At 1st April 2024 Additions Disposals 1,439,040 5,060 126,277 42,396 46,765 1,654,478 5,06 (13,415) (13,415) At 3 Ist Mairh 2025 1,444,100 126,277 42,396 33,350 1,646,123 DKPRni CIATION At 1st April 2024 Cl)ai'ge foi, yepAI' Eliminated oil disposal 86,137 28,781 125,603 168 36,944 1,363 37,241 730 (6,812) 285.925 31,042 (6,812) At 3 1st 2025 114,918 125,771 38,307 31,159 310,155 NETBOOKVALUE At 3 Lst March 2025 1,329,182 506 4,089 2,191 1,335,968 At 318t Mairh 2024 1,352,903 674 5,452 9,524 ,368,553 12. STOCI<S 2025 2024 Stocks 701 701 18 iitinLied.
SPRINGFIELD CHARITABLEI ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- contiiiued FOR THE YEAR ENDEI D 31ST MARCH 2025 13. DEI BTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 other debtors VAT Prepayments and accrued i111C 3,715 4,390 1,700 5,526 5,097 ,8L2 11,616 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2015 2024 Bankloons and overdi'aftg (see iiole 16) So¢i&l se¢urity 8nd oth¢i' taxes Pension ci'editoi. 10,375 7,207 4,089 5,043 229,525 47,677 10,119 14 2.418 VAT oihth. oredilors Ac¢rugls and def¢rred income 304,525 21,836 303,916 338,912 Is. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 21J25 2024 Bank loans (see note 16) 5,286 15.661 16. LOANS An analysis of th¢ inaturity of loans is given below: 2025 2024 Amounts falling du¢ within one year on demand., Ban1( loans 10,375 10,119 Ainounts f&15it)g du¢ betw¢¢n iwo and five yeatB'. Ban1( loans- 2-5 yeai's 5286 IS,661 19 coi)tiniied...
SPRINGFIELD CHARITABLE ASSOCIATION LIMITED NOTES TO THE fiINANCIAL sfATEMENTS- contiiiued FOR THL YLI AR ENDED 31ST MARCH 2025 17. MOVEMEI NT IN FUNDS Net Inovemeiit An funds At 3113n5 At 114n4 Uni'estrleted fund8 Geneial fviid 1,053,720 8,516 1,062,230 TOTAL FUNDS 1,053,720 8,S16 1,062,236 Net movement in ljnds, ii)clllded in Il)e above al'e as follows: Incoillliig resoui'ces Resoui'ces expended Movement in funds Uni'esti'icted funds General fund 468,586 (460,070) 8,516 Resti4eted fund8 BHSCT 166,886 (166,886) TOTAL FUNDS 635,472 (626,956) 8,516 Compiratlves for movement In fund8 Net movement In funds At 3113124 At 114n3 Uni'esti'icted fund$ Generat fund 1,174,404 (120,684) I,053,720 TOTAL FUNDS 1,174,404 (120,684) 1,053,720 20 coiitinued..,
SPRINGFIELD CHAIUTABLE ASSOCIATION LIMITKD NOTES TO THE FINANCIAL STAT4 MCI NTS- contli)ued FOR THE YEAR KNDCI D 31sr MARCH 2025 17. MOVEMEIIT IN FUNDS- contlnued Coniparetive iiel movenient in funds, included ii) the above al'e as follows.. Iiicomlng resoui'ces Resoui'eeg expeiided Moveiiient in funds Unrestricted fllnds Gen.1 fund 314,608 (435,292) (120,684) Resti'icted funds BHscr 156,418 (156,418) TOTAL FUNDS 471,026 (591,710) (I20.684) A cw'rent year 12 montlis and prior year 12 1)ionilis ¢onibined position is as follows., Net movement in fund$ At 3113115 t 114123 Uni'estrlcted funds Gen¢i'al fund 1.174,404 (112,168) 1,062.236 TOTAL FUNDS 1,174,404 (Il2,168) 1,062,236 A cui'rent ye8r 12 moi)Ilis and prioi. year 12 montl)s combined net moveinent in fvnds, inoluded in tl)e above Are as follows: ntomlng I'esoui'ces Resoui'ces expended Movement in funds Uni'esti'ieted fuiid$ General fund 783,194 {895,362) (112,168) Resti'icted funds BHSCT 323,304 (323,304) TOTAL FUNDS 1,106,498 (1,218.666) (112,168) 21 continued...
SPRINGFIELD CHAIUTABLE ASSOCIATION LIMITED NOTII S TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31ST MARCH 2025 18. CONTINGENT LIABILITIES The chaKity receives gimtit income fron) various fiJJiding bodies. These gi3tits air subject lo various Conditions and the charity I'¢¢ognis¢s A contingent liability to repay tliese 'antS slioiild these condilioi)s not be rtiet. l9. RELATED PARTY DISCLOSURES The ¢hatity is connected to Il)e charitable coinpany Spi'ingfield Chai'itAble Delopments Ltd (SCD) FIDd diaies coiiimon directoi's, as sucli it is Ii'eated as a I'¢lated paity iyith saii)e. At tlie year end Spi'ingfield Charitable Association Lid owes the SCD chai'ity £229.525 following a writedown of £75,000 on tl)e loan, Spi'ingfield Chai'itabl¢ Asso¢iation Ltd 0upleS propeity owned by SCD artd paid Irnt tolallin8 £30,960 in the ye81'.Dui'iiig die year SCD made a donation to the SCA of £149,000. Subsequeat to the year ènd Springfield Cli.[table Developments Ltd Irds Jnade donations to the chai'ity tt) provide deficit fijnding support. 22