REI GISTERED COMPAF4Y NUMBER: N10519S2 (Northern Ireland)
REGISTEREI D CHARI'fY NUMB£I R: 103193
Report of the Trustees and
Ullaudited Financial Statements
for the Year Ended 31 March 2023
for
SPRINGFIELD CHARITABLE DEVELOPMENTS
L)MITED
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. DoNTrn
BT30 6DS

SPRINGFIELD CHARITABLE DEVELOPMENTS
LIMITED
Contents of the FinanciAI Stateinents
FOR THE Yfi AR ENDED 31 MARCH 2023
Page
Report of the Trustees
Independent Examlner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Finall¢ial Statements
8 to 13

SPRINGFIELD CHARITABLE DEVELOPMENTS
LIMrrLI D
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023
Springfield Charitable Developments Ltd is a company limited by guarantee which was incorporated on 6th October
2004. The company was r¢gisÈered with the NI Charity CoDmJission on 5th November 2015.
OBJECTIVES AND ACTIVITIES
Objectives and Activities
The principal activity and obje¢tive of the ¢ompany continued to be the provision of retail, office and daycare premises
to charitable organisations in particular to Springfield Charitable Association Ltd.
Pvblic benefit
The Truste¢s of Springfield Charitable Development have fully complied with the public benefit requirements as sel out
in tbe Charity Commission for Northern Ireland's statutory guidance on publt¢ benefit.
Springfi¢ld Charitable Development aims to improve the quality of life for the inhabitants of the Springfield area. This is
achieved through the acquisition, development, and maintenauce of propety in the local area. Properties are then let to
other ¢haritable organisations to fillther help Promote their aims.
ACHIEVEMENT AND PEI RFORMANCE
Achieyements and performance
Through its property letting the company has contributed both fmancially and socially to ils local environment. It has
focused on the redevelopment of one of its existÈng properties in Cupar Street with a view to the whole property being
used by Springfield Charitable Association Ltd, a company with Common trustees, to further ils charitable purposes for
the public benefit.
FJNANCIAL REVIEW
Flnancial posltlon
The charity's fjnancial performance is reviewed on a monthly basis by the board. The charity also has an independent
examination perfomied by an external chartered accountant. The level of charitable income for the year under review
totall¢d £52,026 compared to the comparative fm8n¢ial year of £43,806. The charity made a donation of £25,000 to
Springfield Charitable Association Ltd, a related party charitable company, together wtth recognising a writedown on its
loan with Springfi¢ld Charitable Association totalltng £200,000. Net Assets totalled £1,193,635 at the year end, this is
down from the previous year of £1,380,848
Reserves policy
The trustees re¢ognise that it is necessary to hold reserves in order to offset the ¢ffects of flu¢tyation in ￿tUre incoming
resources. To this end tbe charity aim to hold free reserves which equate to 3 to 6 months operating Costs.
FUTURE PLANS
Following the development of the charity's headqu&rt¢rs at Cupar Street in Belfast the charity will conlinue to look to
develop and strengthen its commitment to the local community through its own charitable objectives and the provision
of facilities for other charities to provide prograrnmes of sUPPOrt to the unemployed and elderly within the area.
STRucfuRE, GOVERNANCK AND MANAGEMENT
Governing document
The charity is controlled by its governing document. a deed of trust, and constitutes a limited company> litnited by
guarantee, as defmed by the Companies Act 2006.
Reeruitment and appolntment of new trustee5
Due to the nature of the charity's work th¢ trustee5 seek to ensure that these needs are appropriately reflected through th¢
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 sktlls lacking or being lost due to retirement, individuals are
approached to otyer thernselves for el¢¢tion.

SPRINGFIELD CHARITABLE DEVELOPMENTS
LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023
REFERENCE AND ADMINISTRATEVE DETAILS
Registered Company number
N1051952 Oqorthem Ireland)
Registered Charity number
103193
Registered offAce
27 Clonard Crescent
Belfast
Co. Antrim
BT13 2QN
Truste&s
V Davidson
C Canavan
M Flynn (resigned 11412023)
A Johnston
G Kelly (resigned 511212022)
T Kernaghan (appointed 4nn022)
B McGrath
T Meehan (resigned 5112r2022)
J Sweeney
C Rodgers (appointed 711212022)
G Kelly (appointed 151612023)
Company Secretary
V Davidson
Independent Ei xaminer
Malachy M¢Grady (Senior Statutory Auditor)
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patri¢ks Avenue
Downpatrick
Co. Down
BT30 6DS
Bankers
Bank of Ireland
202 Andersonstown Road
Belfast
BTI 19EB
Solicitors
Ferguson & Co
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Approved by order of the board of trustees on 17 August 2021 and signed on its behalf by:

SPRINGFIELD CHARITABLE DEVELOPMENTS
LIMITED
Report of the Trustees
FOR THE YEAR ENDED 31 MARCH 2023
V David50n - Secretary

Independent Examiner's Report to the Trustees of
Springfield Charltable Developments
Llmlted
ndep¢ndent examiner's report to the chorlty trustees of Springfield Charitable Developments Ltd
I report on the accounts of the company for the year ended 31 March 2023. which are set out on pages 5 to 14,
Respective responsibilities of ¢harlty trustees 2nd examlner
As the charity trustee5 (and also the directors of the company for the purposes of company law) you are responsible for
the preparation of the accounts in accordance with the requirements of the Companies A¢t 2006. Having satisfied myself
that the charity is not subject to audit under company law, and is eligible for independent examination, il is my
responsibillty to..
examine the accounts under section 65 of the Charities Act
follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under
section 65(9)(b) of the Charities Act
state whether particular rnatters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried
out in accordance with the general Dir¢clions given by the Charity Commission for Northem treland under section
65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a
¢omparison of the a¢¢ounts presented with those records. It also included consideration of any unusual items or
disGlosui'es in the accounts, and seeking explanations from you as charity trust¢es concerning any such matters.
My role is to state whether any material matters have Gome to my attention giving me cause to believ¢:
l. That accounting records were not kept in accordance with section 3 86 of Ibe Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the aecounls do not cornply with the accounting requirements of section 396 of the Companies Act 2006 and
with the methods and principles of the Charities Statement of Reconmiended Practice applicable to charities preparing
their accounts in ac¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland
4, That there is further infonnation needed for a proper understanding of the accounts to be rea¢hed.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and,
connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that
require drawing to your attention.
JbJ•
Malachy
rady (Senior S
atuto
Auditor)
M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

SPRINGFIELD CHARITABLI DEVEI LOPMENTS
LIMITXD
Statement of Financial Activitie5
FOR THE YEAR ENDED 31 MARCH 2023
3113n3
Unrestrlcted
fund
3113122
Total
runds
Note5
INCOME AND ENDOWMENTS FROM
Charitable aetivities
Charitable activities
51,935
43,790
Investment income
91
16
Total
52,026
43,806
EXPENDITURE ON
Charitable 2Ctiyltles
Charitable activities
239,239
203,910
NET INCOMEI(EXPENDITURE)
(187,213)
(160,104)
RECONCILIATION OF FUNDS
Total funds brought forward
1,380,848
1,540,952
TOTAL FUNDS CARRIED FORWARD
1,193,635
,380,848
The notes form part of these f￿anCIal statements

SPIUNGFIEI LD CHAIUTABLE DEVII LOPMENTS
LIMITED
Bal2nc¢ Sheet
31 MARCH 2023
3113123
Unrestricted
fund
3113122
Total
funds
Notes
FIXED ASSETS
Investment property
533,975
533,975
CURRENT ASSETS
Debtors
Cash at bank
313,022
357,764
507,494
383,040
670,786
890,534
CREDITORS
Amounts falling due within one year
(11,126)
(17,982)
NET CURRENT ASSETS
659,660
872,552
TOTAL ASSEI TS LLt SS CURRENT
LIABILITIES
1,193,635
1,406,527
CREDITORS
Amounts falling due after more than one year
io
(25,679)
NET ASSETS
1,193,635
1,380.848
FUNDS
Unrestricted ￿ndS
13
1,193,635
1,380,848
TOTAL FUNDS
1,193,635
1,380,848
The charitable company is entitled to exemption from audtt under Section 477 of the Companies Act 2006 for the year
ended 31 March 2023.
The meEnbers have not required the company to obtain an audit of its r]nancial statements for the yeaT ended
31 March 2023 in accordance with Sectlon 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring thal the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing fmancial stst¢ments which give a true and fair view of the state of affairs of the charitable company as
at the end of each f￿anCIal year and of its surplus or deficit for each ftnancial year in accordance wilh the
requirements of Sections 394 and 395 and which otherwis¢ ¢omply with the requirements of the Companies Act
2006 relating to f￿anCIal statements, so far as applicable to the charitable company.
(b)
The notes fonn part of these financial statements
continued..,

SPRINGFIELD CHARITABLE DEVELOPMENTS
LIMITEI D
Balance Sheet- continued
31 MARCH 2023
These fmancial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regtme.
The f]nancial statements w¢re approved by the Board of Trustees and authorised for issue on 17 August 2023 and were
signed on ils behalf by:
V Davidson- Tnjstee
B MGGrath- Trustee
The notes fonn part of these fmancial statements

SPRllYGFIELD CHARITABLE DEVELOPMENTS
LIMITED
Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
Basis of preparing ¢he fjnancial st8tements
The fmancjal slatements of the charitable company, which is a public benefit entity under FRS 102, hav¢ been
prepared in accordance with the Charities SORP (FRS 102) 'Ac¢ounting 2nd ReportÉng by Charities: Statement
of Recothmended Practice applicabl¢ to charities preparing their accounts in a¢¢ordance 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 appli¢able in the UK and Republic of
Ireland, and the Companies Act 2006. The fmancial statements have been prepared under the historical cost
convention.
The charitabl¢ company has taken advantage of the following disclosure exernptions in preparing these fmancial
statements, as perniitted by FRS 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of
Ireland,:
the requirements of Section 7 Stalem¢nt of Cash Flows.
Critical accounting judgements and key sources of estimation un¢ertalnty
Estimates and judgements are ¢ontinually evaluated and are based on histortcal experience and other factors,
including expectations of futhre events that are believed to be reasonable under the circumstances. The Charity
makes eslimates and assumptions concerning Ihe ￿ture. The resulting accounting estimates and assumptions will,
by defmition, seldom equal the related actu&l resulls,
No judgements (apart from those involving estimates) have beell made in the process of applying the above
accounting policies.
The key assumptions con¢ernll)g the future and key sources of estimation of uncertainty at the reporting date that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities wilhtn the
next fmancial year include..
.the fair value movement of the investh]ent propety.
Income
All income is recognised tn the Statement of Financial Activities once the charity has entitl¢ment to the ￿lld$, it
is probable that the incom¢ will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as thcre is a legal or constru¢Éive obligation committing the
charity to that eXpendit￿re, it is probable that a transfer of economic benefits will be required in settIement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregale all cost related to the category. Where costs cannot be directly
attributed to particular headtngs they have been allocated to activities on a basis consistent with the use of
resources.
TAngible fixed assets
Depreciation is provided at the following annual rate5 in order to write off each asset over its estimated useful
life.
Fixtures and fittinB$
200/0 on cost
Investment property
Investmeni Propeity is initially recorded at cost. which in¢ludes purchase price and any directly attrÈbutable
expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value
are recognised in the statement of fmancial activities.
continued..,

SPRINGFIEI LD CHARITABLE Dll VEI LOPMENTS
LIMITED
Notes to the Financial Statements- continued
FOR THE YEAR EI NDED 31 MARCH 2023
ACCOUTrITING POLICIES - continued
Taxation
The charity is exempt from corporation lax on ils charitable activities.
Fund Aeeounting
Unrestricted ￿ndS can be used in accordance with the charitable obje¢tives at the discretion of the trustees.
Restricted fvnds can only be used for particular restricted purposes within the obje¢ts.of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and pury)ose of each ￿lld is included in the notes to the fmanci&l statements.
INVESTMENT INCOME
3113123
3113122
Deposit account interest
91
16
NET INCOMEI(EXPENDITURE)
Net in¢ome/(expenditure) is stat¢d after chargingJ(crediting):
31n123
3113122
Independent examindtion fees
I,ioo
1,200
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other bellefils for the year ended 31 March 2023 nor for the year ended
31 March 2022.
Trustees, expenses
There wer¢ no truste¢s' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
COMPARATIVES FOR THE STATEMEI NT OF FINANCIAL ACTIVITIES
Unrestricted
fund
INCOMK AND ENDOWMENTS FROM
Charltable actlvities
Charitable activTrties
43,790
Inveslment income
16
Total
43,806
EXPENDITURE ON
Charitable activities
Charitable activities
203,910
continued,,.

SPRINGFIELD CHARITABLE DEVELOPMENTS
LIMITED
Notes to the Financial St8temeiits - continued
FOR THE YEAR ENDED 31 MARCH 2023
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- eontinued
Unrestricted
fund
NET INCOME/(ni XPENDITURE)
(160,104)
RECONCILIATION OV FUNDS
Total hnds brought forward
1,540,952
TOTAL FUNDS CARRIED FORWARD
1,380,848
TANGIBLE FIXED ASSETS
Flxlur
and
rittings
COST
At l April 2022 and 31 March 2023
742
DEPRECIATION
At l April 2022 and 31 March 2023
742
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
INVESTMENT PROPERTY
FAIR VALUE
At l April 2022
and 31 March 2023
533,975
NET BOOK VALUE
At 31 March 2023
533,975
At 31 March 2022
533,975
In accordance with FRS 102, investm¢nt property shall be measured at fatr value at each reporting date with
hanges in fair value recognised in the Statement of Financial Activities. The charity utilised the directors
knowledge of the lo¢al propety market to catTy Out the fair value valuation at the reporting period. They have
detern]ined that there has been no material movement in values for the investm¢nt property held during the
current year. The fair value methodology was to compare similarly prop¢rti¢s sold in the open market value.
Where this infomjation was not available or sufficieat, altemative valuation techniques, utilising the projected
cashflows, rental yields, the portfolio of tenants and remaining lease tern￿ were undertaken to attive at a reliable
estimate of the fair value of the various properties held.
io
contiijued..

SPRINGfi IEI LD CHARITABLE DJIVII LOPMEI NTS
LIMITED
Notes to the Financial Statement5- Continued
FOR THE YEAR ENDED 31 MARCH 2023
DEBTORS: AMOUIYTS FALLING DUE WITH￿ ONE YEAR
3113123
3113n2
Trade debtors
Other debtors
VAT
8,307
304,524
191
507,396
98
313,022
507,494
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
3113123
3113122
Bank loans and overdrafts (see note I l)
Accruals and defe￿ed income
13,176
4,806
11,126
11,126
17,982
io.
CREDITORS." AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
31rJ123
3113122
Bank loans (see note I l)
25,679
ii,
LOANS
An analysis of the mabjrity of loans is given below:
3113123
3113122
Amounts falling due within one year on demand:
Bank loans
13,176
Amounts falling between one and two years..
Bat)k loans > l year
25,679
12.
SECURED DEBTS
The bank loan from UCIT is secured on the Cupar Street property,
conttnued...

SPRINGFIEt LD CHARITABLE DE1￿LOPmENTs
LIMITED
Notes to the Financial Statements - continued
FOR THE YEAR EI NDED 31 MARCH 2023
13.
MOVEMENT IN FufqDS
Net
movement
in fund5
At
3113123
At 114122
Unrestricted funds
General fund
1,380,848
(187,213)
1,193,635
TOTAL FUNDS
I J80,848
(187,213)
1,193,635
Net movement in funds, included in the &bove are as follows:
Incoming
resources
Resourees
expended
Movemellt
in funds
Unr￿trIcted funds
General ￿lld
52,026
(239,239)
(187,213)
TOTAL FUNDS
52,026
(239,239)
(187,213)
Comparatives for movement in funds
Net
movernent
In funds
At
3113r22
At 114121
Unrestricted funds
General fund
1.540,952
(160,104)
1,380,848
TOTAL FUNDS
1,540,952
(160,104)
1,380,848
Comparative net movement in fund5, iucluded in the above are as folLows:
Incoming
resources
Resources
expended
Movement
in funds
Unre5trieted funds
General
43,806
(203,910)
(160,104)
TOTAL FUNDS
43,806
(203,910)
(160,104)
12
¢ontinued...

SPRINGFIELD CHAIUTABLE DEI VELOPMEI NTS
LIMITED
Note5 to the Financial Statements - continued
FOR THE YEI AR ENDED 31 MARCH 2023
13.
MOVEMENT IN FUNDS- eontlnued
A cu￿ent year 12 months and prior year 12 rnonths combined position is as follows:
Net
movement
in funds
At
3113123
At 114nl
Unrestricted funds
General ￿nd
1,540,952
(347,317)
1,193,635
TOTAL FUNDS
1,540,952
(347,317)
1,193,635
A cutrent year 12 months and prior year 12 months combined net movement in fvnds, included in the above are
a5 follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrieted funds
General ￿lld
95,832
(443,149)
{347,317)
TOTAL FUNDS
95,832
(443,149)
(347,317)
14.
RELATED PARTY DISCLOSURES
The charity is connected to the charitable company Springfield Charitable Association Ltd and shares Common
directors, as such it is treated as a related paty with same. During the year the charity dona¢¢d £25,000 to
Springfield Charitable Association Ltd. The charity continues to rent some of its properties to Springfield
Charitable Association Ltd with rental and service charge income from these properties totalling £43,458 in the
current fmancial year. At the year end Springfield Charitable Association Ltd owes the charity £304,524.
13