REGISTEREI D COMPANY NUMBEI R: N1051952 (Noi'thei'n li'elAnd) REIGISTEIRED CHARITY NUMBLI R: k03193 REPORT OF THE TRUSTEES AND UNAUDITED FJNANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 FOR SPRINGFIELD CHARITABLE DEVELOPMXNTS LIMITED M.B.M¢Grady & Co Cliaitered A¢countants Rathiiioi'e Hous¢ 52 St Pati'icks Avenue Downpali'i¢k Co. Down BT30 6DS
SPRINCFIJILD CHARITABLE DEVEI LOPMENTS LIMITED CONTII NTS OF THE FINANCIAL sfATEtYlENTS FOR THE YEI AR ENDED 31ST MARCH 2025 Page Repoi't of the Ti'u5tee5 I to 3 Indtpeiident Ex#mineJ' 5 Repoi,t St&tem¢nt (If Ffnan¢fftal Actlvltles BAIAnee Slieet Notes to the Flnancl21 St8tements 8 to 13
SPRINGFIELD CHARITABLE DEI VCI LOPMENTS LIMITED REPORT OF THE TRUSTECS FOR THL YEAR ENDED 3Asf MARCH 2025 Spi'ingfield Charitable Developtnenls Ltd is a ¢omp8ny liiniled by 8'antee which was incorpoi'ated on 6th October 2004, The company was registered with the Nt Chai'ity Cointhission on 5th Novembei, 2015. OBJECTIVES AND ACTIVITIES Obje¢tlves and actLVlties Tl)¢ pi'incipal activity aiid objective of Ike conip8Ny continued to be the provisioft of I'etsil, office and daycare pi'emi8es to eliaritable oiganisations in paLi¢ulw' to Springfield al.11&ble Association Ltd, 8 related chai'ilable company with common dii'ectoi'slts'uslee5. Publle benellt Tlie Trustees of Spinngfield Cllai'itsble DevelopinertÉ hav¢ 1]Y ¢ompSied willi Il)e publi¢ benefit requii'einents os set out in 11)e C5iarity Commisslon for Noi'iliern li'eland's sla¢utoiy guidance on public benefit. Spiingfield Chai'ilable Dev¢lopinent aiins to improve the quality of life for the inh8bitanls of the Springfield area. Tliis is acliieved thi.ou die acquisltion, development, and maintenance of pi'operty in tlie looal area. NDperties are tlien let to othei. cliai'itable oi'ganis&tions to fyitbei. help promot¢ theii. aims. ACHIEVKMENTS AND PEBSORMANCE Aclilevements and pei'foi'mnce Ther¢ wei'e no acquisitions or disposals of propeity ITh th¢ yeai. 2024-2025, Tliis is in line with ow. strategic plan to discontiniie arty furtlier investment a¢tÉvity 8t this time. The iise of investnient PlDpeLty and asso¢iated I'enlal incoin¢ lths played a strategic part tli¢ p8St ftii. fiwihering tlle ¢harilable aims of Spi'iAgfield Ch8ril#ble Association LTD (SCA), I'elated ¢hw'itable paity, Wlth comiiion tsijslees. In making Ihls ¢ommitmenl the Ti'ustee5 of SCD I'¢gniSe their Irsponsibility to pix)te¢t the built assets wliioli are inte.a[ eleinent in the delivery of SCA'S Charitable services, and as sucli will coThduct relevant reviews and analysis of their impact on an on-going b4sis. FINANCIAL REVIEW Flnancial position Tlie chai'itys fii)ancial perfoi'niaiice is I'eviewed on a 11)ontl)ly basis by the boaid. The Chw'ity 81s0 has an independent examination pei'formed by ali external chaitei'ed ac¢ounlant. The level of charitable income foi- the yeai. under review totalled £42 792 compared lo the compat7tive fiiiancial year of £44,569. The charity Inade a dollation of £149,000 to Springfield ChJi'ilabl¢ A5so¢iation Ltd, a telated party d)aritable company. The charity recognised a i'eduction tti fatr value 011 its Spi'ingfield Road pi'operti¢s in tl)e yeaL of £112,730, Net Assets lolalled £854,131 at Ilie yeai, end, tliis is down froii) Ihe pi'evlous year of £1,163,659 Resei'ves pollcy Tl)e tt'ustees i'ecogni8e that it is iiecessary to Iiold reseives in oi'dei. fo offset die eff¢¢ls of fluctuation in thture imcoining I'e50uires. To this end tlie charity aim to liold fire restives whi¢li equate to 3 to 6 montl)s op¢ratirtg costs. FUTURE PLANS Folffioiving the development Df th¢ chaiity's headquterS at Cupgr Stiret irt Belfast tb¢ Charity will continue to look io dev¢lop and strengthen its commilinent to th¢ lo¢al coftmiunity throuc¢li its own chitable objectives and the pi'ovision of facilities foi, othei. ¢h8Ylties lo pi'ovide pi'ogi'aijmes of suppoitto Il)e unemployed and elderly within the '¢a. STRUCTURE. GOVERNANCE AND MANAGEMJINT Govei*lng document The churity is controlled by its 8ovei.ning docuinen( a deed of trust, and constitutes a liinited company) guarantee, as defined by tlie Companies Aot 2006. limtted by ReeruItmlt And oppointment of new ti'ustees Due to tlie rtature of the ¢l)arity's work th¢ Iruste¢s see1( lo ensure th&t these needs are appropriately I'eflected tY)Ugh the divei'sity of tl)e trust¢¢ ljody. To eJthaii¢e tlie potential pool, ti'uglees are Etquested to provlde a list of Ili¢ii' skills (and update it eacl) year) ertd in tlie event of particular skills lacking oi, belng lost due to ietirenient, individuals are appiD&¢hed to offer tliemselves foi. election.
SPRINGFIELD CHARITABLE DEVELOPMENTS LIMITED REPORT ofi THE TRusfKC4 S FOR THE YKAR ENDED 31STMARCH 2025 RKFKR&NCI AND ADMINIST114TIVE DETAILS Reglstei'ed Company nutnber N1051952 (Noil5iern Irelalld) Reglstei'ed Chxi'ity number 103193 Reglstei'ed offlee 27 Clonai'd Ci'es¢ent Belfasl Co. Anlrini BT13 2QN Ti'ustees V Davidson J Sweeney A Jolinstoii C Rodgers J Tat¢ (Appointed 271612024) C C2rtaV8n (r¢sign¢d 271612024) B McGrath (IEs&gned E81I012024) G Kelly (I'esigned 301412025) A McCI'acl<en (Irsi8ned 41I212025) CompAny Seoi'etary J Sweeney Independent Examlnei. M.B.MoGrady & Co Chartei'ed Accountants Rathn)or¢ House 52 St Patricks Avenu¢ Dowiip&tri¢k Co. Down BT30 6DS Banliei's Bank of Ii'eland 202 Andersonstowi) Road Belfas¢ BTII 9EB Solicitoi's Ferguson & Co Causeway Towel. 9 James Sts'eet South Belfast BT2 8DN TRUSTICES, RESPONSIBILITY STATEMENT The trustees (wllo are also the di101.8 of Spi'ingfield Charitable Developnients Liniited for Ilie purposes of conipany law) 81% i'¢sponsible for preparing the Repoi'l of tl)e Tmstecs and tl)e fii)ancial slalem¢nts in a¢coi'dance with applicable laiv aNd United Kingdoill Accounting Sialldails (United Kingdoili Gen¢i'ally A¢¢epted Accounting Prn¢ti¢e).
SPRINcfilELD CHARITABLE DILVELOPMJLNTS LIMrrED REI PORT OF THE TRUSTEES FOR THE YKAR ENDED 31sr MARCH 2025 TRUSTll¢ ES, RESPONSIBILITY ATEMENT- e¢Jntlnued Coinpany law requii'es tlie trustees lo piepare financial statements for eacli financial year. Undei. that law. tl)e trustees have elected to prepaye Ihe financial statements in accordw)ce with United Kimgdorn Getheixlly Ac¢epted Ac¢ounlin8 Pra¢lice (Uiiited Kingdoin Ac¢ouiiting Siandai'ds and applioable law). Uiida. cortipany l&w the Ii'ugtees must iiot 8PPIDve the fiii&ncial s¢atenients unless they w'e sati8fied tliat they give o true aiid f8ir view of tl)¢ stale of affAif5 of the ¢h2ritable company and of the incoiiiing i'esour¢es and application of resoui'oes, iii¢luding tlie Income alld expendituie, of the cliari18ble company foi. Iliat period. li) prep3ring tliose financial statements, the trustees Are i'equu'ed to 8elect suitable aceounling policies 8nd then 2pply tlieni consls¢ently, obseive the meiliods and principles in the aiayities SORP, ittake judgements and esliinates IliatMr¢ I'easonable and prudeiitr prepare the fin811cial statements Ort tlie going conc'n bL4is unless il is inappiDpi'iate to presume tliat th¢ choritable company will continue in business, Th¢ Ii'LlStees are responsible for keeping proper accourtting reeords Nvhieh dis¢lo$e with I'easonable aeath'acy at any tim¢ the fmancial position of the ch'Itable company and to enable tliein to ensure that th¢ finfinoilll statements comply with ie Coinpanies Aot 2006. They are also responsibl¢ foi. safeguarding the assets of the ¢hai'itable company and hettce for taking teasonable steps fot. th¢ prevcntion and detection of fraud and otliei. iri'¢gulariti¢s. Independent Examiner Each of the persons who is a trustee at tl)e date of approval of this irpDit ¢onfirms i118t'. so far as they thi'e &waYe, theiE is no rdevant iiifoi'malion of which the ¢h41'ity'5 independent exaininer is unaware ofr, artd they liav¢ taken all steps that they ought to have tsl<en as a tiwslee lo niake thernselv¢s aware of &Thy ielevartt inforniation and to ¢stablish that die Gh8rity'S auditoi. is aware of tliat infoi'mation. SMRII eomp%ny pi'ovlslons Tliis report 5ias been prepared in accordance wffitli the provisions applicable to ¢oinpanies entitled to Il)e sinall companies exemption. Approved by ol'der of the board otlrustees on 8111 J8lluaiy 2026 8nd signed on its behalf by: V Davidsort- Trustee
INDEPENDENT EXAMINER'S RKPORT TO THE TRUSTECt S OF SPIiINcf4lELD CHARITABLEI DEVELOPMCI NTS LIMITED l i'epoit on the accounts of the company foi, the year ended 3 Isl Mairh 2025, wliich are set out on pag¢s five lo thirteetL Rcspeetivè i'esponsibilitie$ of chfil'ity th'uste¢s and exAnilner As the ¢l)8rity's ti'ust¢es (ai)d also the dli'e¢tovs for the purposes of ¢omp8ny18w) you al'e I'esponsible foi. the prepaiztion of the accounts i# ac¢oi'dance with tlie t'equiiein¢nts of tlie Companies A¢t 2006. Having satisfied niykelf that the charity is nol subjec¢ to audit undei. company 18W and is eligible for independent ¢xaniinaliort, it is my i'esponsibility to., exattiine the a¢eoullts undei. S¢¢lioii 65 of the Chai'ities Act follow the procedui'es laid down in t]ie gen'al Dii'eclions given by tl)e Charity Coninii5sion for Norihei'n Ii'dand under Section 65(9)(b) of lie Charities A¢1 stst¢ wli¢tliei' particular mat¢¢t31)av¢ ¢onie to my attention. BASIS of tlie ijidtptudait examiner's repDI't I have examinod your chai'ity Accounts as requii'ed undei, Section 65 of the Cliaritie5 Act and my examin8tioii was ai'ried out in ac¢olance witli tl)e gen¢r&l Dii'ectioiis given by the Cliority Conimission for Northern Ii'eland ui)dei' Section 65(9)(b) of tlie Cliari¢i¢s Act. Tli¢ examination included a review of tiie accouiiling recoiyls kept by tlie cliarity and 8 coJnp&'ison of Ilie accounts pi'esenled with ihose x¢¢oi'ds. It also in¢luded consideration of any unusual items oi. disclosuiEs in the accounts, and seeking explanations from you 88 cliai'ity trust¢¢8 wnc¢i'ning any sueh Matt's. My iDle is to state wliethei, any m8leL'lal m8tteE3 have cothe to niy attention givin8 me ¢ause ¢0 believe.. That ACCOUllting fe¢ords were not kept in accordance with Seetiort 386 of the Comp4ni¢s A¢t 2006 That tlle a¢counts do not a¢¢oi'd with those a¢¢ounting i'¢eoi'd$ That the a¢couttts do not Cgmply with the accounting requir¢m¢n15 of S¢¢tion 396 of the Coinpanies Act 2006 and with the methods and pi'incÉples of the Charities statne11t of Recommended Practice appli¢abl¢ to Qhai'ities preparing tlieir a¢¢ounts In accoi'd8nc¢ witli the Finaneial Repoiting Stand8rd applicable in the UK and Republic of li'eland That tl)ei'e is fuiiher inforii18tion needed foi. a pi'oper undei'slonding of th¢ accounts to be Irached. liidependent exAminer'8 statement I have Completed my examittailon and have no Cottcerns it] irspect of Ilie mattel's (l) to (4) listed above and, in connection willi followin8 the Dite¢¢108 of the Cliarity Commlssion for Northeim Ireland, I l)ave found no niatter8 d)&t Tequirt drawing to yoiiv atteiition. Mala¢hy i'ad Tlie Institute of Chaitei iilanls iii IiEland M.B,McGrndy & Co Cliarlered Accountants Ralhmore House 52 St Patricks Avenue Downpalrick Co, Down BT30 6DS 9t]1 January 2026
SPRINGFIELD CHARITABLE DEVEI LOPMENTS LIMITED STATEMENT ort FINANCIAL ACTIVITIEI S FOR THE YEAR ENDED 31ST MARCH 2025 1025 Uni'esti'icted fund 2014 Totlll funds Note8 INCOME AND ENDOWMENTS FROM Ch81'itAble Actlvlties C1181'it&ble acttvilies 40,599 43,790 779 Investment iticoine 2,193 44,569 Tolol 42,792 EXPENDITURE ON Chai'itRble Activities Clwitable activities 239,590 74,545 Net gBinsl(losses) on investments (111,730) Nrf INCOMKI(EXPENDITURE) (309,528) (29,976) RECONCILIATION OF FUNDS Total ndS biDught foiwai'd 1,163,659 1,193,635 TOTAL FUNDS CAPJiIED FORWARD 8S4,131 1,163,659 The notes form pait otihes¢ financial statements
SPIUNGfiLI LD CHARrrABLE DIVELOPMCI f+lTS LIiVIITED BALANCE SHEET 31ST MARCH 2025 2025 2024 Totsl funds Uni'estri¢ted fviid Note5 FIXED ASSETS InvestiettI propeity 421245 533,975 CURRENT ASSETS Debtors C&sli at bank 245,1 A9 211.270 3 lJ,022 327,788 456,389 640,8LO CREDITORS An)ounls falling due within one yeai. (23,503) (11,126) Nrf CUBRENT ASSETS 432,886 629,684 TOTAL ASSETS LW CURRENT LIABILITIES 854,131 ,163.659 NET ASSETS 854,131 I,L63,659 FUNDS Unre$trict¢d funds 854,131 1,163,659 TOTAL FUNDS 854,131 1,163,659 Tlie cliai'itable ¢omparty is entiil¢d to exemption fitsm audit under Section 477 of tl)e Coittparties Act 2006 for tiie yeai. ended 3 Lst m'th 2025, The membei's have not reqiiii'ed tlie ¢omp8ny to obi&ill an Audit of its fin&n¢ial statements foi. the year ended 3 1st MaLrli 2025 in &cCo1da¢ with Section 476 of the Compant¢s Act 2006. The trustees &¢knowledge their i'esponsibilities for (a) eiisuring that the chai'ilable company keeps accounting records that eompty with Sections 386 and 387 of tli¢ Coinpanies Act 2006 aTLd preparing financial statements which give a Irlie aiid fair view of th¢ stale of affalrs of the ¢h8rilable ¢omp8ny as at the end oe each filian¢1 year and of its surplus or deficit foi. each financial year ii) accordance with the requiirniellts of Sections 394 and 395 and which otherwise coniply with the requitem¢nts of th¢ Companies Act 2006 relating to financial slateinents, so far as applic*ble lo the ehai'itable ¢oiiip8tty, (b) The notes foi'm part of Ih¢se finai)cial 518tements contiiiued.
SPIUNGFIELD CHARITABLE DEVELOPME* NTS LIMITED BALANCE SHEII T- contlnued 31ST MARCH 2025 These finaiicial statetrtcnts have been prepared irt accordance witli the provisioiis applicable to ¢1181'ilabl¢ coiiiyanies subject to the sinall coinpliiies regiine. The finatioial ststeinents wei'e Approved by the Boai'd of Trustees and authorised foi. issue on 8th Jaiiuaiy 2026 and were signed on its behalf by.. V Davidson - Ti'ustee eeney- Trust¢e The not¢s foi'in part of these finai)cial statements
SPRINGFIELD CHARITABLE DEVIZLOPMEI NTS LIMITED NOTES TO THE FINANCIAL STATLI MENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES Basis of preparing the f&nhnelAI statements The financial stateineiits of Élle oh#i'i¢able eompanyb whicli is a public benefit erttity undei. FRS 102, have been pIEp&red in a¢cordance with the Cliai'ities SORP (FRS 102) 'A¢¢ollnting and Reporting by Chai'ilies: Statement of Recon)Inended Pra¢tice applicable to chai'ities pi'epai'iftg tlieir aeeounls in ac¢ordan¢e willi th¢ Financial Repoiting Slendai'd 4ppli¢able in Ilie UK and Republtc of Irelaiid (FRS 102) (eff¢¢live I lanuai'y 2019),, Financial Repoitiiig Siandai'd 102 'The Financial Reporting Siandai'd applicable in the UK aiid Republic of li'eland, and the Coinpani¢s Act 2006. The finaiicial s¢&tement8 have beeii prepared undei. the historical ¢ost convention. The charitable company has taken advantsge of tlie followiftg dis¢losui'e exemption in preparing Iliese firtancial statements, as pei'Enitted by FRS 102 Tlie Finan¢ial Repoi'ling Standaid applicable in tlie UK aTrd Republic of It'eland,: the requirements of Section 7 Statement of Casli Flows. CI'ltlcRI aeeounting judgements 8nd key soui'ces of estiInAtlon uncei'tslnty Estimates and Jud8einents are continually evaluated *nd are based on htstoi'ical expeLiert¢e and other factoi's, iftcliiding expectations of futui'e ev¢nts that are believed to be i'easonable und¢r the ¢iirumstan¢es. Tlie Chw'ity makes eslim&tes aiid sumPtIOnS coneet'ning the future. The resultin8 accounting estimates and assumptions will, by defittilion, se]dom equal the related actual SUlts. No judgements (apaLt fiDm thos¢ involving estimatss) have been made in the piD¢ess of applying the above 8¢couttting policies, The key assiiniptions concerning tlie th1't and key sources of estiniation of uncertwnty 8t the reporting date that hav¢ a signifi¢ant risk of causiiig a mat£i'l adjiistn)enl to tlie ¢ai'rying a(nounts of assets aiid Ilabitities within the n¢xt finan¢ial yeBI' include,, •tii¢ fair value niovement of the investhient propeity. Income All iiicome is I'eeogiiised in the Stateittent of Finat)cial Activities once the chai'ity has entitleinent to Ilie fijrtds, it 18 pi'obable ttiat tlie incoitte will be rec¢ived and the aimount can be itteasui'ed i'¢li&bly. xpenditui'e Liabilities ale r¢cognised expeiiditui'e as soon as theie is a legal oi. constsvctive obligatiort Comniitting tlie chAI'ity lo that expenditure, it 18 probable that a tt'ansfei. of economio b¢nefits will be I'equkn'ed in settlement and Ihe &mount of the obligation can be itteasui'ed ieliably. Expenditui'e is a¢¢ounled ftir on an &¢¢i'uals basis and has beerL classified iind¢i' headings that aggi'egate all cost I'elaled to tl)e category, Where costs e4nnot be dii'ectly
th'ibuled to paiticular headings Iliey l)&ve been allocated lo activities on a basis consistelll willi Ilie lis¢ of
i'esour¢es. T2ngible fixed xssets DepiE¢ialion is provided at the following annual rates in oi'd¢i' to Wl'Lte off ¢aGh asset over its estimated use1 Itfe. Fixtiires artd fittings 20% ort cost Investnient propeity Inv¢stiiiei)t PiY)pei'ty is inili8lly recoi'ded at eos¢ whicl) includes pUhaSe pi'l¢¢ and any directly attributable expcnditure. Investnienl PlDpei'ty is I'evalued to Its fair value at each I'epoi'ting date and aiiy changes in fail. value li'e reeognised in tl)e statement of fin&ii¢i&l activities. continued.
SPRINGFIELD CHARITABLC DEVELOPMEI NTS LIMITED NOTES TO THE FINANCIAL SFATEiViENTS- continued FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES - contlnued Taxation Tlie cliAi'ity is exeinpl fiDm coi'poration lax on its ¢h&i'it8ble a¢tivilies. Fund 2ecountizig Uiii'esli'icted funds can be iised iii a¢eoi'dance with the chai'itable objectives at the disci'etioii of Ihe Ii'ustees. Resli'icted fiinds cart only be iised foi. paiti¢ulw' ¥eslricted purposes within the objects of tl)e charity, Restt'iclions arise when spe¢ified by the donor oi. wh) fuiids are rdised for paiticul&r resu'icted purposes. Furthei. explanation of tlie natui'e and purpose of each nd is included in Il)e notes to the fin&iicial statements. INVESTMENT INCOME 2025 2024 Deposit accont interest 2,193 779 NET INCOMEI(EXPENDITURE) Net incoinel(expenditur¢) is stated afiei. Chargin(cl.¢ditlngj: 2025 2024 Independent examinatiort fees 1,320 1.100 TRUSTEES, REMUNERATION AND BENEFITS Th¢re wer¢ no tru8tees' i'emuneixtion or othei. benefits for the yeai. ended 3181 Mar¢h 2025 nor foi. the year ended 3 Istmw'oh 2024. Trustee$, expenses There wei'e no tiwstees, expenses paid for the Ye anded 31st Mairli 2025 noi. for the year ended 31StMth 2024. COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVJTIES Uni'esti'lcted fund INCOME AND ENDOWMENTS FROM ChAI'ltable Actlvities Cl)ai'ilable activities 43,790 Investinent iDcoine 779 TotAI 44,569 EXPENDITURK ON Ch#i'ltable RCtlv&ties Ch81'iiabl¢ activities 74,545 conliiiu¢d...
SPRINGFIELD CHARITABLC DEVELOPMfi NTS LIMITED NOTES TO THE filNANCIAL STATLMENTS- contlnued FOR THE YEAR KNDKD 31sr MARCH 2025 COMPARATIVES FOR THE STATEMENT OF fiINANCIAL AcfiviTIES- contlnued Uiii'estricted fund NET INCOMEI(EXPENDITURE) (29,976) RECONCILIATION OF FUNDS Total lldS broiigiit forwai'd 1,193.635 TOTAL FUNDS CARRIED tPORWARD 1,163,659 TANGIBLE FtXKD ASSETS and rittlngs COST Ai 1st April 2024 and 3 1st Mairli 2025 DKPRECIATION At 1st Api'il 2024 8nd 31st March 2025 741 742 NET BOOKVALUE At 3 1st Maith 2025 At 31st 2024 INVESTMEf+rr PROPERTY FAIR VALUE At Is¢ Api'il 2024 Imp&u'ments 533,975 (112,730) At 3 1st March 2025 421,245 NET BOOII VALUE At 3 1st MaiEh 2025 421,245 At 3181 March 2024 533,975 10 Continued...
SPRINGFIELD CHARITABLE DEVELOPMENTS LIMITED NOTKS TO THE FINANCIAL STATEMII NTS- eontlnued FOR THE YEI AR ENDEI D 31ST MARCH 2025 INVESTMEI NT PROPLI RTY - contlnued Iii accord8nce with FRS 102. iiivestinent pi'opeity sliall be Ineasured a¢ fair value at ea¢h reporting date witi) ¢hai)ges In fail. value recognised in the Staiement of Financial Aclivilies. The cliai'ity ulilised tile diyectors knowledge of tlie local pi'opeity I'ke1 to Cai'i'y out the fair value valualioii al the repoiting pei'iod. They Iiave delei'mined that a redu¢tion in the fail. value of tl)e SpriDgfield Road pi'opeities should be i'ecognised. Tl)e fail. value n)ethodology was to coiiipare siinilai'ly propei'lies sold in the open maLket value. Whel'¢ this inforniatioll was not available or sufficient, alte]'nativ¢ valuation te¢liniques, utilising the projected caslitlows, I'entsl yields, the poi'tfolio of tenants and i'eiuaining lea* teiins were undertal(en lo ari'ive at a r¢liable estiinate of tl)e fair valtse of the various prope]ties lleld. DEBTORS: AMOUNTS FALLING DUE WITHIN ONEI YEAR 202S 2024 Ti'ade debtors Othei. debtoi's VAT 14,427 229,524 1,168 8,307 304.524 191 24S,119 313.022 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YKAR 2025 2024 A¢crnals a[ defei'Fed income 23,503 11,L26 io. SKCURED DEBTS Th¢ chw'ity has a charge iii favour of UCIT 5e¢ur¢d on Ilie Cupar Street pi'operty and BOI on tlie Springfield Road property. li, MOVEMENT IN FUNDS Net moyement In fllnds At 3113n5 At 114124 Uni'esti'icted funds General fLd 1,163,659 (30928) 8S4,131 TOTAL FUNDS 1,163,659 (309,S28) 854,131 contillued..,
SPRINGf*lELD CHARITABLE DEVELOPMENTS LIMrrLI D NOTKS TO THE FJNANCIAL KfATEM£NTS- contlnued FOR THE YEAR ENDLI D 31ST MARCH 2025 ii. OVEMENT IN FUNDS- eontliiued Net movenient in funds, included in th¢ above aye as follows: IR¢omlng I'esoul'ces Resources eypended Galns Aiid losses Moveinent in funds Unrests,l¢ted funds Gene1. fvnd 42,792 (239A90) (112.730) (309,528) TOTAL FUNDS 42,792 (239,590) {112,730) (309A28) Compfirotives foi. moveineiit lil fund8 Net movement lil funds At 114123 3113n4 Unre5trleted GelleJ'AI fund 1,193,635 (29,976) .163,659 TOTAL FUNDS 1.193,635 (29,976) 1,163,659 Comparative net movement in funds, included in the above are BS follows., Incomlng i'esoui'ces Resoui'ees expended Movenient lil fund5 Uni'estrlcted ndS Genernl fvnd 44,569 (74,545) {29,976) TOTAL FUNDS 44,569 {74,545) (29,976) A eurrent year l2 months aiid prior year 12 iiwiiihs combined position is ss follow5: Net mOvemlt Ill funds At 3113125 At 114n3 Uni'estricted funds GeNe¥&l nd 1,193,635 (339.504) 854,131 TOTAL FUNDS 1,193.635 (339,504) 854,131 12 corttinued...
SPRINGFIELD CHARITABLE DEVELOPMCI NTS LIMITED NOTES TO THE FINANCIAL STATEMENTS- cont¥nued FOR THK YEAR ENDED 3 1ST NIARCH 2025 MOVEMKNT IN FUNDS- ¢ontinued A curtei)t year 12 Inonths and pi'ior year 12 months combined net moveinent in fjJtJds, in¢luded in the above are as follows: Ineoming i'esoui'ces Resoui'ees expeiided GAlns and losses Moveinent In fund$ Uiii'esti'leted funds General filrtd 87,361 (314,135) (112,730) (339,504) TOTAL FUNDS 87,361 (314,135) (112,730) (339,504) 12. RELATED PARTY DISCLOSURES Tlie cl)gJ'ity is conn¢¢l¢d to the ch8rit8ble coinpany Spi'ingfield Cl)2Yit&ble Association Lid (SCA) attd shairs common diiE¢torsltiwslees, as such it is ts'eated 8s a related party witl) sanie. Dui'ing Ille y¢ai' the chai'ity donated £149,000 to Spiingfi¢ld chItable As8ocialiort Ltd. Tl)e cliarity continues trj l'ent some of its piopei'lie$ to Springfield Chaiitable Association Ltd with rentsl ttnd sVIce Cli.8¢ income from these properties l01g11ing £30,960 in the cui'i'ent fin¢181 yea¥. At the year end Springfield Chai'itable Association Ltd owes Ik¢ charity £229,524. The chai'ity has PlDvided commitments to its relal¢d ch1¢4b1¢ cojnpany SCA to provide deficit fimding as and when required in the 2025126 financtal year as SCA'S is piDj¢¢ted to i'equii'¢ deficit funding to maintain its charitabl¢ activities. Subsequent to tiiis y¢ai' end tlie chai'ity made donations to Springfield Charitable Association in support of thes¢ ehai'itabl¢ activities. 13