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 unCertaint￿S 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 entl￿ernent 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 inC￿aSe 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 preV￿u$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 finan￿d 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 eX￿PtiOn 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 prev￿uSIY 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 17￿ned 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.
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