Greater Shankill Partnership Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2026 Restricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Other trading acts'vities Other income 2,537 1,557,631 13.440 5,796 10,000 47,586 9,012 1.376,227 1,386,227 47,586 9,012 1,442,825 Total income 66,598 1,376,227 1,579,404 Expenditurn Expenditure on charitable activities Total expenditure 9,10 86,822 1,404,394 1.491,216 1.522,907 86,822 1,404,394 1,491,216 1.522,907 Net (expenditure)Jincome {20.224) (28,167) (48.391) 56,497 Transfers betsveen funds (168) 168 Net movement in funds {20.392} {27.999) (48.391) 56,497 Reconciliation of funds Total fijnds brought forward Total funds carried forward 956,260 935.868 114,786 86.787 1,071,046 1.022.655 1.014,549 1.071,046 The statement of financial a¢tivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 16 to 29 fonn part of these fjnancial statements. 13
Greater Shankill Partnership Company Limitsd by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Fixed assets Tangible fixed assets Investments 15 16 612,085 613,600 612,089 613,604 Current assets Debtors Cash at bank and in hand 17 153,3¢)3 314,795 172,484 336.904 468.101 509,388 Creditors: amounts falling due wlthln one year Net current assets 19 57,535 51,946 410,566 457,442 Total assets less current liabilities 1.022,655 1,071,046 Net assets 1,022,655 1,071,046 Funds of the charity Restricted funds Unrestricted fijnds 86,787 935,868 114,786 956,260 1,071,046 Total charity funds 22 1,022,655 These financial statements were approved by the board of trustees and authorised for issue on 7 October 2025. and are signed on behalf of the board by: T Wn5tone Chairman The notes on pages 16 to 29 form part of these financial statements. 14
Greater Shankill Partnership Company Limited by Guarantee ststement of Cash Flows Year ended 31 March 2025 2025 2024 Nots Cash flows from operating activities Net (expenditure)lincome (48,391} 56.497 Adjustments for Depreciation of tangible fixed assets Interest payable and similar charges Accrued income 15,832 802 (6,000) 12,708 827 (3,4181 Changes in.. Trade and other debtors Trade and other creditors 19,178 12,173 (83,347) 13,302 Cash generated from operations (6,406) (3,431) Interest paid Net Gash used in operating activities (802) (7,208) {827) (4,258) Cash flows from Investing activities Purchase of tsngible assets Net cash used in investing activibes (14,317) (14,317} Cash flows from financing activities Proceeds from borrowings Proceeds from loans from group undertaktngs Net cash froml{used in) financing activities 858 (721) 137 (1.3231 (1,019) Net decrease In cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equlvalents at end of year (21,388) 336,183 (5,277) 341,460 18 314,795 336,183 The notes on page5 16 to 29 fonn part of these financial staternents. 15
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General infomiation The charity is a public benefit entty and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is The Spectrum Centre, 331- 333 Shankill Road, Belfast, BT133AA. Statement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to chartiies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities SORP IFRS 102)) and the Companies Act 2006. Accountlng pollcles Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendtture. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concem There are no material unCertaintS about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgement5 are continually reviewed and are based on experience and other fa¢tors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sulFclasses: restricted income funds or endowment funds. 16
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Ststements (coni)nued) Year ended 31 March 2025 Accountlng pollcles {¢onUniMd) Incoming resources All incoming resources are included in the statement of financial acttvities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specffic policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entlernent is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliabty, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpjse and retumed if unspenc in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classtfied under headings of the statement of financial activities to which it rdates.. expenditure on raising funds includes the costs of all fundraising activities, events. non- charitable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that fijrther its charitable aims for the benefft of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expendrture that is neither related to raising fijnds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resour. Direct costs attributable to a single activity are allocated directly to that acttvity. Shared costs are apportioned between the activrties they contribute to on a reasonabte, justifiable and consistent basis. Tangible assets Tangible assets are initialty recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaiment losses. 17
Greater Shankill Partnership Company Limited by Guarantee Notss to the Financial Statements (c¢>ntinued) Year ended 31 March 2025 Accounting policies (contlnuedj Tangible assets (continued) An inCaSe in the carrying amount of an asset as a SuIt of a revaluation, is re¢ognised in other recognised gains and losses, unless it reverses a charge for impairment that has preVu$lY been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in which case the k)ss is shown within other re¢ognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset. less its SIdUal value, over the useful economic life of that asset as follows.. Freehold propety Fixtures and fittings Equipment 2% straight line 20% straight line 20% straight line Investments Unlisted equity investments are initially rewrded at cost, and subsequently measured at Trair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investments in associates Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with Changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distribub.ons recerved from the investment are reccMJnised as income wtthout regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Investments in joint ventures Investments in joinlly controlled entities accounted for in accordan with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initialty recorded al the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. INhere it is impracticable to measure fair value reliabty without undue Gost or efforL the Cost model will be adopted. 18
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements feonthu•dJ Year ended 31 March 2025 Accountlng pollcles (¢ondnued) Investments in joint ventures (conknnuedj Dividends and other distributions received from the investment are recognised as income without regard to whether the distributtons are from accumulated profts of the ioint venture arising before or after the date of acquisition. Impalmient of flxed assets A review for indicators of impaiment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an ests-mate is made of the recoverable amount of the ¢ash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of gotyjwill, the goodwill acquired in a business combination is, from the acquisition date. allocated to each of the cash-generating untts that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilits'es of the charity are assigned to those units. Financlal instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost Where investments in shares are publicty traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value wtth ¢hanges in fair value recognised in income and expenditure. All other such investments are subsequendy measured at cost less impaimient. Other financial instruments, including derNatives, are initially recognised at tsir value, unless payment for an asset is deferred beyond nomal business terms or finand at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequentEy measured at fair value, with any changes recognised in the statement of financial activits"es, with the eXPtiOn of hedging instruments in a designated Fkdging relationship. 19
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements (conbnued) Year ended 31 March 2025 Accounting pollcles (conllnued) Financial instruments (¢ontinuedJ Financial assets that are measured at cost or amortised cost are reviewed for objects've evidence of impairment at the end of each reporting date. If there is objective evidence of impairment. an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equty instruments regardless of slgnrfiCan. and olherfinancial assets that are individually significant. these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impaimient not prevuSIY been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seniice is provided. Prepaid Contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settied wholty wrthin 12 months of the end of the reporting date in which the employees render the related service. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises_ Limited by guarantee The company, being a company limited by guarantee, does not have share capital. The liability of members of the company is limited to £1 per member. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations - Non Gift Aid 2.537 2,537 20
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2025 Charltable actfvitles Unrestricted Funds Restricted Total Funds Funds 2025 Belfast Health and Social Care Trust Street Beats Executive Office- CIT 1 & 2 Department of Communities The Community Foundation Belfast City Council Department of Health Department of Education through BHSCT PHA- Clear CFF Department of Education - WBCP Dormant Funds CFF Mental Health Funding 166.031 166,031 108,067 155,779 108.067 155,779 92,647 759,083 4.620 92,647 759,083 4,620 10,000 90.000 10,000 g),000 10,000 1.376,227 1,386,227 Unrestricted Funds Restricted Total Funds Funds 2024 Belfast Health and Social Care Trust Street Beats Executive Office- CIT 1 & 2 Departrnent of Communrties The Community Foundation Belfast City Council Department of Health Department of Education through BHSCT PHA- Clear CFF Department of Education - WBCP Dormant Funds CFF Mental Health Funding 143,305 23,022 95,407 187.456 89,786 143,305 23,022 95,407 187,456 89,786 39,599 92,622 696,453 39,599 92,622 696,453 10,000 10,000 90,000 40,000 49,981 1,557,631 90,000 40.000 49,981 49.599 1,508,032 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Extem Boysmodel Queens 41,339 41,339 12,060 1,380 12,060 1,380 6,247 6.247 47,586 47.586 13,440 13,440 21
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2025 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 other income Refunds 8,537 475 8,537 475 5.796 5,796 9,012 9,012 5,796 5,796 Expendlture on charltable actlvltles by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Charitable activities Support costs 86,822 1,381,120 23,274 1.404,394 1,467.942 23,274 1.491,216 86.822 Unrestricted Funds Restricted Total Funds Funds 2024 Charttable activities Support costs 93.115 1,411,980 17,812 1,429.792 1,505,095 17.812 93,115 1,522,907 10. Expenditure on charitable activities by activity type Activtties undertaken directly Support costs Total funds 2025 Total fund 2024 Charitable activities Governance costs 1.467,942 1.467,942 23,274 1.491.216 1,505,095 17,812 23,274 23,274 1.467.942 1.522,907 11. Net (exp8ndltureVincome Net {expenditure)lincome is stated after chargingl(credrting): 2025 2024 Depreaation of tangitAe ed assets 15.832 12,708
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements {continued) Year ended 31 March 2025 12. Auditors remuneration 2025 2024 Fees payable for the audit of the financial statements 9,980 9,715 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 977,226 64,350 17,$84 1,059,160 918,196 61,662 18,718 998,576 The average head count of employees during the year was 49 (2024: 49). The average number of full-time equivalent employees during the year is anatysed as follows- 2025 No. 2024 No. Number of staff 49 49 No employee received employee benefits of more than £60,000 during the year (2024: Nil). 14. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees during the year. 16. Tangible fixed assets Freehold Fixtures and property fftiings Equipment Total Cost At 1 April 2024 Additions 780.000 17.552 17.995 14,317 815,547 14,317 At 31 March 2025 780,000 17.552 32,312 829,864 Depreclation At 1 April 2024 Charge for the year At 31 March 2025 167,700 11.700 17,552 16,695 4.132 20,827 201,947 15,832 217,779 179,400 17,552 Carrying amount At 31 March 2025 600,600 11,485 612,085 At 31 March 2024 612,300 1,300 613,600 23
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 16. Investments Shares In group undertakings Cost or valuation At 1 April 2024 and 31 March 2025 Impairment At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 202S At 31 March 2024 All investments shown above are held at valuation. 17. Debtors 2025 2024 Trade debtors Prepayments and accrued income Early Years debtor Other debtors 138,815 14.491 153,493 12,143 6,638 210 153,306 172,484 18. Cash and cash equlvalents Cash and cash equivalents comprise the following". 2025 2024 Cash at bank and in hand Bank overdrafts 314,795 336,904 (721) 336,183 314.795
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Ststements (confrnued) Year ended 31 March 2025 19. Credltors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Trade creditors Amounts owed to group undertakings Accruals and deferred income Social security and other tsxes Other creditors 1,162 42,763 3,895 9.715 1,025 19,957 4,616 15,715 4,694 5,939 51,946 57,535 The bank loans and overdrafts of £nil (2024: £1,025) di8closed urKler creditors falling within one year, are seGured by the charity. Bank overdrafts are secured by a legal charge of company owned property GSP also secure a subsidiary company's (GSPDD) overdraft facilities by a legal charge of company owned property. 20. Deferred income 2025 2024 At 1 April 2024 Amount released to income 1,950 (1,950) At 31 March 2025 21. Pensions and other post retirement benefrts Deflned contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £17.584 {2024: £18.718). 22. Analysis of charitable funds Unrestricted funds At 31 March 202 1 April 2024 Income Expenditure Transfers General funds 956,260 66.598 (86.822) (168) 935,868 At 31 March 202 1 April 2023 Income Expenditure Transfers General fijnds 988,952 71.372 (93.115) (10,949) 956.260 25
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 22. Analysis of charitable funds (condnued) Restricted funds At 31 March 2025 At 1 April 2024 Income Expenditure Transfers BHSCT HUB BHSCT- 8OAG Street Beats Executive Office - CIT 1 & 2 and CIT Youth Department of Communities- NR Department of Communities- NR Coordinator Belfast City Council Department of Health Department of Education through BHSCT- Surestart Department of Education - WBCP Department of Communities - additional funding Department of Communities - Minor Improvement Scheme CFF- Mental Health Funding Dormant Funds The Community Foundation Clear PHA 140,446 (140.446) 25.585 (25.585) 108,067 1108,235) 143,176 (143.176) 168 12,603 {12.603) 92.647 {92.647) 759,083 1759,082) 90.000 (90,000) 28.000 86.786 (28,000) 86,788 4,620 {4,620) 114,786 1,376,227 {1.404.394) 168 86,787 26
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2025 22. Analysis of charitable funds (¢oftJnued) At 31 March 2024 At 1 April 2023 Income Expenditure Transfers BHSCT HUB BHSCT- BOAG street Beats Executive Office - CIT 1 & 2 and CIT Youth Department of Communities- NR Department of Communities- NR Coordinator Belfast City Council Oepartment of Heatth Department of Education through BHSCT- Surestart Department of Education - WBCP Department of Communities - additional funding Department of Communities- Minor Improvement Scheme CFF- Mental Health Funding Dormant Funds The Community Foundation Clear PHA 119,072 24.233 23,022 {119,072> (24,233) (28,630) 5,608 95,408 123 134.918 (110.051) {135,041) 10.677 15,997 (15,997) (12,8141 195,708) 12,814 92.622 696,453 90,000 (696,453) {90,272) 272 (9,646) 26.894 49.981 40.000 89,786 {26,894) (49,981) (12.000) (3,000) 28,000 86,786 25.597 1.508.032 (1.429,792) 10,949 114,786 27
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Statements (¢onllnuedJ Year ended 31 March 2025 23. Anatysis of net &ets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 612,085 612,085 381,314 (57,535) 86,783 468,097 (57,5351 935,864 86,787 1,022,651 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 613,600 613.600 370,610 {27,950) 138,778 509,388 (27.950) (23,996) 1.071,046 (23,996) 114,786 956.260 24. Taxation The Company is a registered charity. and as such is entitled to tax exemptions on income and profits in furtherance of the charty's primary objecttves. 25. Contingencies A contingent liability exists to repay grants and Trust monies received should certain Conditions not be fulfilled by the charity. In the opinion of the Trustees. the terms of the Letters of Offers have been, or will be, complied with and no liabilty is expected. 26. Ethical standards In common with many other businesses ofour size and nature we use our audrtors to prepare and submit retums to the tax authorities and assist with the preparation of the financial statements. 27. Anatysls of changes in net debt At At 1 Apr 2024 Cash fiows 31 Mar 2025 Cash at bank and in hand Bank overdrafts Debt due within one year 336.904 (721) (4,920) 331,263 (22,109) 721 (137) (21,525) 314,795 (5,057) 309,738 28
Greater Shankill Partnership Company Limited by Guarantee Notes to the Financial Ststements (¢ontinuedJ Year ended 31 March 2025 28. Related parties The Early Years Company The Early Years Company Limtted is a wholly 17ned subsidiary of Greater Shankill Partnership ("GSP"I. 2025 2024 Amounts owed by group undertakings - Early Years 6,638 Graater Shanknll Partnership Pmperty Development Co. Limited Greater Shankill Partnership Property Development Co. Limited {"GSPPD") is a wholly owned subsidiary of GSP. 2025 2024 Amounts owed to group undertakings - GSPPD 3,895 4,616 Spectrum Centre Trust Spectrum Centre Trust is a wholty owned subsidiary of GSP. There were no balances outstanding (2024: £nil) betsveen Spectrum Centre Trust and GSP at year end. 29