SPRINGFIELD CHARITABLE DEVELOPMEI NTS LIMITKD Report of the Trustees FOR THE YEAR ENDLI D 31 MARCH 2023 Springfield Charitable Developments Ltd is a company limited by guarantee which was incorporated on 6th O¢tober 2004. The company was registered wtth the Nt Charity Commission on 5th Nov¢mber 2015. OBJECTIVES IIND ACTIVITIES Objectives Mnd aetivities The principal acÉivkty and objective of the company continued to be the provision of retail, office and daycare premises to charitable organisations in particular to SprÉngfield Charitable Association Ltd. Publie benefit The Truste¢s of Springfield Charitable Development have fvlly complied with the public benefit requirements as set out in tbe Charity Commission for Northern Ireland's statutory guidance on public benefit. Springfield Charitable Development aims to Improve the quality of life foT the inhabitant5 of the Springfield area. This is achieved through the acquisition, development, and maintenan¢¢ of property in the local area. Properties are then let to other charitable organisations to fvrth¢r help promote their aims. ACHIEVEMENT AND PLI RFORtVlANCE Achievements and performance Through its propety letting th¢ company has contributed both fmancially and socially to ils local environment. It has focused on the redevelopment of one of its existing properties in Cupar Street with a view to the whole property being used by Springfield Charitable Association Ltd, a company wilh common trustees, to further ils charitable purposes for the public benefit. FINANCIAL REVIEW Flnancial po$ltion The charity's fmancial perfonnance is reviewed on a moJ]thly 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 totalled £52,026 compared to the comparative finan¢ial year of £43,806. The Charity made a donation of £25,000 to Springfield Charitable Associatton Ltd, a related paty charitable company, together with Yecognising a writedomm on its loan with Springfield Charitable Associ&tion totalling £200,000. Net Assets totalled £1,193,635 at the year end, this is down from the previous year of £1,380,848 Reseryes policy The trustees recognise that it is necessary to hold reserves in order to offset the effects of fluctuation in futtwe incoming resources. To this end the charity aim to hold fre¢ reserves whiGh equate to 3 to 6 months operating costs. FUTURE PLANS Following the development of the charity's headquarters at Cupar Street in Belfast the charity will ¢onlinue to look to develop and strengthen its commitment to the local community through its own charitable objectives and th¢ provision of facililies for other charities to provide programmes of support to the unemployed and elderly within the area. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing docuxnent The charkty is controlled by its governing document, a deed of trnsl, and constitutes a limited company, limited by guarante¢, as dered by the Companies Act 2006. Recrultment and appolntment of new trustees Due to the nature of the charity's woi'k the trustees seek to ensure that ihese needs are appropriately reflected 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 offer thernselves for election.
SPRITrIGFIELD CHARITABLE DEVELOPMENTS LIMITED Report of the Truste¢5 FOR THE YEAR ENDED 31 MARCH 2023 REFERENCE AND ADMINISTRATIVK DETAIIS Registered Company number N1051952 (Northem Ireland) Reglstered Charity number 103193 Registered office 27 Clonard Crescent Belfast Co. Antrim BT13 2QN Trustees V Davidson C Canavan M Flynn (resigned 11412023) A Johnston G Kelly (resigned 511212022) T Kernaghan (appointed 4n12022) B McGrath T Meehan (resigned 51l2r2022) J Sweeney C Rodgers (appointed 711212022) G Kelly (appointed 151612023) Cornpgny Secretary V David50n Independent Examiner Mala¢hy McGrady (Senior Statutory Auditor) M.B.McGrady & Co Chartered A¢¢ountants Rathmore House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS Bankers Bank of Ireland 202 AndersonstoNTrn Road Belfast BTI19EB Solicitors Ferguson & Co Causeway Tower 9 James Street South Belfast BT2 8DN Approved by order of the board of trustees on 17 August 2023 and signed on its behalf by:
SPRINGFIELD CHARITABLE DEVELOPMENTS LIMITED Report of the Trustee5 FOR THE YEAR ENDED 31 MARCH 2023 V Davidson- S¢Grelary