REGISTCI RED COMPANI, NUMBER: N105A952 (N0i.tli￿'ll Irelftiid) IiEGISTERED CHAIUTY NUMBER: 103I93 Repoi't of tlie Tru5t¢t$ And Untiudlted F111211clal Siateinents tor tlie YeY41' Ended 31 MAYcli 2024 for SPRINGFIELD CHARITABLE DEVELOPMENTS m.B.mcG￿dY & Co Cl)aitered AccounlaDts Rathmor¢Hous¢ 52 StPatrick8 Avenue Downpati'ick Co. Dtsivn BT30 6DS SPRINGIPIEI LD CHARITABLK DEVLLOPMENTS LIMITED Contents of Ilie FlnAnclAI StAtenieiits FOR THIL YEAR ENDED 31 MARCH 2024 Poge Repoi't of tlie Trustee8 ]ndepe]identExai￿5￿¢I.ll Reyort Statement ofFIKanelAI Actlvltle8 BylAttee Slieet Notes to tlieFlnaiid81 Statemoiits SPRINGFIELD CHARITABLfi DEI VELQPhlENTS LIMITED Repoi't of tlie Trustees IroR IIIE YEAR JGNDED 31 MARCH 2024 Spi'iiigfield Chaiitable Developiiienls Ltd 15 I COIIIP8ny limited by guaronl¢e ivlii¢h wtt$ In¢owoi?t¢d on 6th Oclobei. 2004, Th¢ ¢omi)ofty was re8i$ter¢d with tlic Nl cl)￿'1ty Con]nii5sivii on Stb Novemb¢i'2015. OBJECTIVLS AND ACTIVITtEs Objectlves And actlvllle$ Th¢ pi'lncipal octivity ttnd objcctive of tl)e coinpaity ¢oi?tiiiued to btt tb¢piDviRion of relBil, offl¢a and daycare premises 10 01181'itsbl¢ oi'ganis&1ions in p8rticulai- io Spriiigficld Cliarilable Association Lid. a relHlcd cliarilable ¢on)pany wlth common diit¢totEIIiu51¢¢8, Publle beneflt Tho Tn]sts¢s oFSpi'AITrBfAeld Cliaritable Development114ve ￿ltycol￿p1I¢d ivith Ih¢public benefit I'¢quir¢inettts as set olll in tlie ChaLjty Comn￿Ssion forNor1l￿rn Ii'eland'¥ slattitoiy guidance oli publie benefit. Spi'ill8fteld Cliorilabie Developth¢nl alti￿ to impi'ove Ilie qualityof life for the i]thnbit8nts of Ihe Springfield ar¢a, This is aoliieved througli liie acquisition, d¥velopn)ent, and maintenance of PLDpcIty in tho lo¢al ai'¢a. Prop¢rties are Iliern let to olhei. cliAvilable or8aiilsotiOllS lo fijrther help pi'oTnol¢ their aims. ACHIEVEMENT AND PERFORMANC Achl¢vements #nd perforinallce iveit ilo acqu¥silion8 or disposals of prop¢ty In the yeai. 2023-2024 irgulting in uneliam8ed clo$in8 values as preBented in th¢ Annual Accounts. This is in lin¢ willi oui'8t¥alegi¢ plan lo dis¢oiitinuc any ￿rtIle1. investm¢iit 4¢livily at ¢liis tlitte. Tho use of InVestn￿lI1 pioperly and assooi8led rental incom¢ lios played a 8tralegic parl in the L)8$1 for I'lliering tlie charitable alms of Spi'ingfield Chsritable Associatioii LTD (SCA). a relased chpdi'itabl¢ party, Ivilh ¢oinmort trustees. In making tha$ ¢ommiln)enl ili¢ Tn￿tte% of SCD I'ecogntse Ilieir resyonsibility lo proiecl tlie built asscts whicli oir an Inte￿￿1 clcixent in tlie delivthy of SCA'S oliarithble seivices. attd as su¢li will coiiduct Yelevaiit reviews and analysis of their iitspAcl on au on-80in¥b8Si8. FINANc￿L REVllGW Flttaii¢lg1 posltlon Th¢ ¢bai'lÉy's fuiatkei81 pei'fonnall¢e Is iEvS¢wed OIL a illollihly basls by ibe board. The chArity 81s0 has ali iiidepeiident ex￿1)InatIOn p¢iformed by att extewl cliorlcred accountaiit. Th¢ level of cli&i'it8ble income for th¢ ye￿. undei. ravlow lolalled £44,569 compared lo the coittparative finftn¢ial y¢ai' of £52,026, The cliavity i?iad¢ a don&¢ion of £73,000 to Spiingfield Cliai'itable Association Ltd, a iYl&ted party charitabl¢ ¢ompJny, Net Assets totalled £1,163,659 81 tt)e yeBr ¢nd, Ihls 18 down fi'om the PLtvious ye￿￿ of £1,193,635 Resei've8 poIi¢y The knwtees i'¢cogiiis¢ Ilittl It is i)ecessary lo hold iese¥v¢s iii otdei. to offsct th¢ eff¢¢ts of flu¢t¢iAtion in Inco￿1{￿8 resowrex. To di18 ehd Ilie cbayity attn lo hold free r¢seNes whicts ¢quate lo 3 10 6 inonilis operatin8cgsIs. rUTuR￿ PLAN8 FolloiviiiE Ihc development of thr cliaritys h¢adquHitei% at Cupai. Street irt Belfast tlie cliarity will coi)tinue lo look to develop at)d slren£lhen its con)miliiieiit to Ilie lo¢al coinuminity through its own ¢harilabl¢ objectiv¢s and tlle piDvisi021 of facilitt¢s for otlier chaiilies to ￿'0VId¢ PiDgramin¢$ of support lo Ili¢ unemployed and ¢ld¢rly ivlthill the area. srRUCTUR£, GOVJLRNANCE AND IWAGEMENT Cov¢i'nlng doeunitiit Tlie charity is oonti'olled by its governing document, a deed of ti'ust, #nd ¢ons1ithles 8 limlt¢d ¢oihpany> limtted by 8u&i'anle4 as defined by tli¢ Compaiiies Act 2006. Reuwltment Appolntment of iieiv th'u$tces Due lo ti)¢ nllttii'e of tlie cliaiity's woik tlie tsu5tees se¢k to ensuiE that Ihese needs are aijpropi'lotely IEflected Illl'ough the div￿￿11y of tl)¢ Iwslee body. To en128n¢e Ilie poiential i)ool, ti'uslees are LYquest¢d i(} pruvid¢ 4 list of their skills (Aud update it cacli yeai.) llnd in Ihe event of pHiti¢ulai' 8kill¥ la¢kin8 or being los¢ dtsc to I'¢tiirmen¢ individual8 ai &ppIDached lo offei. Ili¢J￿$ClvcS foi. election. spniNGFIELD CHAWTABLE DKVELopf¥lENTS Repoyl of theTYustees FOR THE YEARENDfD 31 MARCH 2024 IULFERJLNCE¢ AFID ADMtNtSTRATlVJt DETAILS R¢Elstered Compairy nuiiibei. N1051952 (NoTlkn¢rn lielnnd) RtElst¢Yed cli41.ity nMii)bei' I03193 Regl8ter¢d oftl¢e 27 Clonard t[￿cell1 Belfast Co, Anlrim BT13 2QN Tiujtees V D&vidsort C Canavatt (yes1￿¢d 271612024) M Flynn (iesigtied 11412023) AJohnst￿l T Iceimaghan (Irs1￿¢d 1611112023) B McGLBth J Sive¢ttey C Rodger8 lQelly (thppoinled 151612023) A M¢Cixck¢n {&ppoinl¢d 8nn024) Comp?Iw Se¢i'eto1'y J Siveeney Independent Examlnei. M.B.McGrady & Co Charleird Accouttlanls Ratlunor¢ Htsus¢ 52 StPati'icks Avenue Downi)alri¢k Co. Down BT30 6DS Bal￿ of Irdand 202 Anders0D$t0￿ Road B¢lfas¢ BTI 19BB Soll¢ltOf8 Fergusoii & Co CausewAy Tower 9 Jam¢$ Shtel South Belfast BT2 8DN Api)IDved by order of Ihe boRtd of Irust¢¢s oll 4 O¢tob¢r 2024 8nd slgned on118 behalf by., SPRINGI,'IELD CHARITABL14 DEV14LOPMENTS LIMtTED Repot't of tlie Tr'u8tees FOR'fHII YLAR ENDED 31 MARCH 2024 V Davidson- Trustee lJdepeiideiil Ei%&inliièi,1s Repoyt to tlic Ti'uste¢s of Sprkngtield Chg1,Itabl¢ D#velopill¢nls Llinltod I repork on the 8¢COUllts of tlie compairy for the year ¢nded 31 Marcli 2024. whi¢h ar¢ 5¢¢ oiit on pages five lo thi¥l¢¢ll. Respectlve rcspoiislblllties of cli#rlty li'u$tees Aiid examliiei, As tho ¢liai'ity'8 trustees (gnd also the dire¢loY8 foi. tlie purposes of company law) you al'e re$pottsible for the pYep&ration of the accoutsts in a¢¢ordancc witli ilie ¥equiYements uf th¢ Con)p811ies Act 2006. HE4ving satisfied Iiiy3elf tl)ot the Ghayity is not subject lo avdil iiiid¢r coinpany Saw and 18 eligible fof llldependenl exanjillatioi), il is Jny responsibility lo: examine lh¢ acc¢Mi)ts undey Se¢tloll 65 of the Charities Act follow Ili¢ p¥0cedl￿cs laid dowll in tli¢ g¢n¢rgl Dirtciions giv¢nby the Ch8Kity Coinmi$5ion forNortheni Irelai undey Sedlon 65(9)(b) of fhe Ch&rities A¢1 stthte ivl*ther pariictslar mall¢k's bave coine to Illy alteii¢lOn. Basls of tlie Independent exgnilnet s i'epovt I b*v¢ exALnined YQUL charity accounts os requir¢d under S¢¢tion 65 of Ilie Ctsarilies Act aftd niy e.xaminatioii was ca)Yied oul in a¢coi'dan¢e ivith Il?¢ genernl Dii'e¢tion8 givui by th¢ Chai'ity Con)ii)issioii fth. Noithem Ireland under Se¢lion 65(91(b) of tli¢ aiarities Aol. Tli¢ 8x8mination included a Aeview of tli¢ a¢¢ountsn8 records kept by Ilie ¢lw'ity ond & Comparison of the accounts pr&8entcd with tlios¢ reeords. It also in¢luded consid¢i'alion of aiiy uftu$iial items 01 dlsclosuYe3 in I1￿ accou1￿, 11)d 3eekiog #xplanations you tts ¢l)AYity Iru8l¢es ¢oneeLYitsg Bny such ni&tter$, My role 18 to state wheiljer any maleyial iknattei's have ¢oin¢ lo my 8tteiilion Bivirt8 cnuse to b¢ll¢ve: Th&t ae¢oiii11inB reooi'ds W¢Lf notkept in 8¢cordoncewilli Seclion 386 of the Conipanies Act 2006 Thai th¢ ac¢ounts do not ac¢ord witli dio88 accowiling recoi'd8 Th&¢ (he aeeoviits do not ¢oiMply the accounting requii¢mettts of Se¢tiott 396 of the CompDnies Aet 2Q06 and ivitli tli¢ Jh¢tliods and pLinciple8 of tli¢ ChaLilies St2ten)entof R¢co]n￿ended Pi'a¢ti¢e applicable lo ¢liarities pi'¢poring their a¢¢ouiifs in llccordaii¢e with the Finon¢ial Repovliiig Slllndayd appIl￿bLe in tli¢ UK aiid R¢public of lY¢land Thatiheye 18 fviiher irtforinailon needed for a popei. undersiandlng of iiie 8ccounl¥ to be Leached. Iiid¢pindellt oxamln¢r'8 Statement I li&v¢ eomyleted iny exaiiiiimtioii and h&ve no concei￿5 in r¢gpect of the matl¢iB (l) to (4) lisled above and, in connccliots with folloivittg tb¢ DIr￿tIon￿ oEiho Chirity COn￿nIS810n for Noiuieijk Ti'elalld, I hav¢ found no ll)atte￿ Il)8t i'equire drawing to your attertlion. Malachy T5ie Institut Ibdy of ai8Yter¢d ntat)t8 iii li'e18nd M.B,M¢Grady & Co Cli8rteL¢d Accounlouls Raihixore Hou$¢ 52 StPatri¢k8 Av¢nu¢ Doivnpatrlck Co. Down BT30 6DS Dale.. .8PRINGIryELD CIIARITABLE DILVELOPI¥IEN1'S LIMI'fED Slateinent of IfinanclRI Actfvitle8 FOR THE YEAR ENDED 31 MARCH 2024 3113124 Unresti'lcted fund 3113123 Total fund% Notes INCOMIZAf4D ENDOWMENTS IfROM CIIAI'ItAble &etlvltles Cl)ai'ilabl¢ #¢liviiies 43,790 51,935 Inv&8lnient in¢ome 779 91 'rotal 44,569 52,026 KXPENDITURE ON Cliai'ltable fvctlvltles Cl)8ritable activitios 74,543 239,239 NET INCOMIU{EXPENDrruRE) (29,976) (187,213) RECONCELIATION OF FUNDS Tot&1 fund$ brougliiforww'd 1,193,635 1,380,848 TOTAL FUNDS CARRtED FORWARD 1,163,659 1,193,635 The notes foi'inpail of Ihcse flnan¢i85 siateii)¢nL8 SPRINGf5ELD CIIARITABLE DEVELOPMiT,NYS LIMITED Balance Slieet 31 MARCH 2024 3113126$ Uni'estk4¢ted fund 3113123 Total fuiids Notes FLYED ASSETS Investinen¢p¥opeity 533,975 533,975 CURBII NT ASSETS Debtors Casli Il bank 313,022 327,788 313,022 357,764 640,810 670.786 CREI DITORS i)oimls fallingdue withln ono ye8t {11,J26) (11,126) NET CtiPlU£PJT ASSETS 629,684 659,660 TOTAL A&SETS LESS CURRENT LIABILITIES 1,163,659 1.193.635 NET ASSETS 1,163,659 1,193,635 FUNDS Unre8tticted thiid5 1,163,6S9 1.193,635 TOTAL FUNDS I,A63,659 1,193,635 Tlie cliai4table company Is entitled to eXeI￿p110n fi'oni audit under Section 477 of tl)e CoiDpLntes Act 2006 for the yeai. ended 31 m￿11 2024. Tho memb¢r8 liav¢ not rcquired tlie corGpany lo obtain xn aiidil of 113 financial stslenmts foi th¥ yeor eDded 31 Morch 2024 in aCC￿'dance with Sccilon 476 of Ibe Compaiile8 Act 2006. Th¢ Irustees a¢knowledg¢ thelr r¢8POll8ibililie& tor (a) eii4urin# thllt the charitabl¢ coinpany keep$ accowiling ircords Ilifyt coinply witli Seetlan8 386 and 387 of tlie Coinpgtsies Act 2006 and (b) p¥epaiiiig fiiirtttcial staleiiienls ivhich give a tru¢ and fail. vieiv ofihe stale of affai¥s of th¢ cl)arilable coinpany ftt tlie ¢nd of eacb fingnclpl y¢ai' Hnd of its SULpIus OL det]¢it foi. cacli financial y¢ai' itt a¢¢oidan¢e ivith Ilie Yequirem¢nt8 of S¢ctions 394 and 395 and which ollieiivise eoi))ply with the requii'ements of tlie Companies Aet 2006 i¢luting lo financial 8talemcni$, so far as applirable lo ihe clioiilnble ¢onipo11y. Tlie iiotes f¢Y'm PQTt of these finott¢lal slalcnien15 ¢onliiiued. SPIIJNGFIIW) CHARiTABLEDRVWLOPMKNT8 BAlanee Sheet- Co￿1[￿￿¢d 31 MARCH2024 These fillanoial 818temettts have been pxeplred In accoidanco with tho provl8lons appllcAbl4 lo oh￿1t￿ble compaoles $ubj￿1 to tho S￿￿1 companies LY8kIlle, The filloll¢ial sl&l¢ment8 w¢r¢ 8pwoved by thu Board of Tru&t¢e8 otsd authoL18ed issue on 4 October 2024 and weitl 61gnd on its bebzlf by: VDavldson- Trv8tee lSween¢y- Th18ts8 Tho llotes formpart of these fj118nclolsl&lellwils SPRINGMELD CHAiirrABLfi DEVELOPm￿NTs LIDAiTED Notes to theFIDanelg1 Statements FOR YUREIYDED 31 MARCH 2024 ACCOIJNTINGPOLICJIS Basly of pi'epai'lng the fln8nolal statements Tho fillancial sllllements of tho GhaLilabl¢ oomppnyi whlch IB & public benefit entity undor FRS 102. hav& b¢ prep￿rtd in aCOQLYlatice vAih the Ch8ritie8 SORP (FRS 102)'Accounting and R¢poi'dng by Choritles,. Sl&tsmeAt of ￿t￿l￿nended Piactice &pp]i¢able lo ¢]wYitie6 prepaiiug theiL accounts io O¢COLdallce with the Fiaanoial R¢poiting Sialld81'd appli¢able in the UK alld Repiblio of Ireland IFRS 102) (effecilvo l JAnuary 2019),, Fjnaneial Repoi'liug St¥tsdard 102 Yho Flnancilll Repottillg Stalld￿d applicable knL the UI£ and Republlo of Ii'¢lartd' ftrtd the Comp8DTes Act 2006, The fjn8ndal sl&tsm¢nts havo been pi'8pared wider the hi8toi'l¢al coat conv¢ntLon. The oh&iit&blvJ company has taken advantsE8 of th¢ follo￿]ng dtscloso¥e exemption in pYepaiiDg Ibe88 f]nan¢l81 81atements, as pernjttted by FRS 102 The FitYdnciaE Reporling Sl8nda¥d appli¢abl¢ in the t]K and Repub]ic of IIElatJd': th¢ requirements of Section 7 Statement of CaÈhFIows, Crlde#l qceoullling Judgements and key 8ouree8 of e8tlMation wieortAlnty stlwt&9 and judgeiknentr Are Continually evaluthd alld are based on hislotieal oxperienoo and other factor6. In¢luding exp¢¢l&tlons of thbjre ¢vehts that ara bell$ved to ba leas0￿ble undet the cir¢uD)staJL¢es, The Charity rnake8 ¢StI)n&t￿ and e8sumpilon8 ¢onc¢ndDg the ￿tu1'e. The Yesulting ac¢ountin8 e8timat¢8 ond 98siill)plions wlllj by defifjition, seldom equal the r¢laled actual re8uIts, No jwdgemellts (apart fi'om those involving.estlzD&tes) have been made in tha proee68 of V4pplyiJ)g the abov¢ a￿OuntIngv0llCle$. Thokny ￿SumptIonS COll¢¢mtng the thtura alldkey gour¢es of eatinwtloll of unc¢rtaittty atthe ieporlittg dal•J that h&ve a slwlificalltrlsk of causlttg im&terial adjsjstwnt lo th8 ¢9nyiDg ailloun18 of assets alld ilabilities within thè n¢xt fiDwia1y￿ include: It￿f8{￿Va1U¢ rnovetoent of theitivestmentpiDperty. Income All ittcome ia re¢o8uised in tho Sl*t¢ment of Financial Aelivities once tbe charity bo8 etttitiement lo the 6md4 It 18 pibbAbl¢ thattho ittCOLnewill bereceived and the amountogll beme88w'edYellably. ipendllui'e Ltabilities aT¢ iWO8ttl6ed as 6xpellditur¢ a8 soon Rs t]￿re is a legal or ¢onsttuctiv¢ oblig4tloll cotiynitlillg the cba¥Lty lo that exp¢nditw'e, it-i8 probable that A tL'8nsfrr of economic benaflt8 will be iequiied in 8ettlemellt aftd the atrtowil of the oblig8tlon can be Iiieasilled i¢liably, ExpendibJL'e Is accowiled fol orj an aoeLuals bag13 And has been cia&8ified under headings that aggregote all ¢ost rel&ted to th$ category, Where ¢08t* ¢at)not be direolly athibuled to p&rticulai headings ttiey have been alloclled to 8¢1ivitI￿ on a ba818 ¢OnSi8tent witli the use of ow¢¢s. Yallglble fjxed As3et8 Depir¢Sation 18 w'ovided F4t the following 8nnual rates in o¥dek to vjrile off each asset over its estimated u$¢fi]I lif Flxtuttl and*lltitsg8 200A ontOBt Investm¢ntPL'OPéYty lllve8twnt P¥operty Is Jnlilally recoAded at cost. wliich includ¢8 pu¥cha¥e pil¢e and any direeily Rtts'ibiitable expendlture. Inve81mcntpropety is KevAluedto ilg fail value &t each ieporting dal¢ and any changpA in fair value are recognl8edin the 81ateni¢ntof finanoi&l d¢tivitle8. ¢ontsnlled,.. SPRINcfiELD CHARITABLC DLVIILOPMENTS LIMITEI D Notes to tl)e FlnAnelRI Stateinont$- ¢ontliiued FOR THEYLAR ENDED 31 MAJICH 2024 ACCOUNTING POLIc￿s- eontlnued T#xatlon TEie ¢iiaLily is ex¢n)pt from coipoi?tLOtt tAX Ort its ¢hAlitable a¢tivitie5. Fund R¢eourttino Uiii'ests4¢t¢d fijnds can be used In aecoilott¢e with tl)e cli£iiÉablt objectives attli¢ di8creknon of the tIiLslees. Tie$lYi¢t¢d fiin