Charity Reglstration No. 103649
Company Registratlon No. N1041258 (Northern Ireland}
GREATER VILLAGE REGENERATION TRUST LTD
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

GREATER VILLAGE REGENERATION TRUST LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Dlrector8
Mrs P Stevenson
Mrs S Coulter Brown
Mr A M Connolly
Reverend R Moore
Mrs H Harold
Secretsry
Mrs P Stevenson
Charlty number
103649
Company number
N1041258
Reglstered offlca
337 Donegall Road
Belfast
Co. Antrim
BT12 6FQ
Auditor
Harbinson Mulholland
Centrepoint
24 Ormeau Avenue
Belfast
Co. Antrim
BT2 8HS
Bankers
AIB
35 University Road
Belfast
Co. Antrim
BT71ND

GREATER VILLAGE REGENERATION TRUST LTD
CONTENTS
Page
Directors, report
Statement of directors, responsibilities
Independent auditor's report
7-10
Statement of financial actlvltles
Statement of financial position
13-18
Statement of cash flows
17
Notes to the financial statements
18-29

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The directors present their report and financial statements for the year ended 31 March 2023.
Objectives and activities
Using a holistic approach to urban regen8ration, GVRT is involved in projects that touch every aspect of community
lifa.
Thematic Areas of Concentration for GVRT..
Community Safety: crime prevention initlatives, youth-diversionary programmes.,
Culture & Arts.. publlc art, cultural murals, and history projects.,
Economic Development.. supporting local businesses, providing buslness incubation unlts.
Elderfy.. physical activlty projects, inter-generatlonal events,.
Employment.. accredlted training programmes, Job Matching Service, Careers Advice, one-to-one
support.,
Environment.. parks, allotments. graffiti removal, street lights'ng, blns, and clean-up campaigns.
Health.. accredited programmes and activities in the area to promote positive health and well-being
messages..
Housing.. Village Urban Renewal Area, support for accessing grants I transfers I repairs, Housing Rights
Advic8 service.,
Physical Development.. working with statutory agencies and the private sector to encourag8 development
of brownfield sites, derelict buildings and open spaces.,
Sport.. working with schools, youth clubs, community organisats'ons and new and exisling sports clubs on
differant initiatives.,
Training.. Construction skills, work experlence in the community, Health and Fitness training;
Youth.. rang8 of educational, cultural (Inc. cross-community), sports and facility development programmes.
Achlevements and performance
Housing, Environment & Physical Development
GVRT have continued to prioritize its work on housing, environment, and physical development We continue to
work alongside the Northem Ireland Housing Executive, housing associations and private sector organizations to
resolve any emerging issues within the community and this year seen us proactively try to encourage and
support the local community to get on the social housing waiting list and lobbied the NIHE to complete a latent
demand survey of the area to try and evidence the need for addikn'onal social housing in this community.
Across the year we have worked alongside other relevant authorities regarding dereliction, environmental
improvements, and planning. This year so a lot of work with developers trying to ensure that any new proposed
developments were what the community needed, and this saw us have a few successes for additional social
housing to be included in new schemes. Further work will take place across the next year to bring these plans to
fruition.

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Community Safety
GVRT have worked on a range of community safety issues and organized a wide range of projects over the past
year.
Funded by the Belfast City Council Community Activity Medium Grant we ran our Step Up and Take Notice
project which sought to improve awareness within the community of safety issues which may affect them and to
improve PSNI relations. From this grant we were able to organize a Tea Dance, wellbeing boxes and keep
learning workshops which addressed issues such as sexual health, drugs and alcohol, mental health, and
domestic abuse.
We also ran our Think Twice project which was funded by the Northern Ireland Housing Executive Community
Safety Fund and As part of this project young people from the area who have been identified as being Involved in
anti-social behavior took part a range of educational workshops and diversionary trips.
We continue to work closely with the PCSP, PSNI and Northem Ireland Housing Ex8cutlve to overcome and
resolve any issues which may arise.
Economic Development
GVRT has continued to focus on developing our Richview Regeneration and this year seen us finally have all our
business units rented out to businesses. We continue to support South Belfast Sure start who18ase the bottom
floor and they continue to thrive and help children and parents within the area with a range of programs and
initiatives.
Our employment related advice service was extremely busy across the year providing support to residents with
CV creation Job Search and Job Application and we continued to build links with existing and new employers
across the year.
Our TREE Tralning Centre has continued to grow and develop , with us getting a feasibility study drawn up so
that we can move to try and secure capital investment funding in order to build a new and Improved premises in
the local community which will in tum allow us to provide more services and work with a greater number of
residents.
Blythefield Pitch
We continued to work with local teams and The South Belfast Youth League , and Llnfield Football Club who all
use the facility. Alongside this we supported the local primary schools and youth clubs who all use the facility for

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Health and Well Being
We conkn'nue to receive funding from Public Health Agency and through this run various health related programs
and initiatives for residents such as , Self-Love
Club , Cook it, Older and Active , Sole Sisters Walking Group , Zumba , Yoga.
Throughout the year we worked in the three local primary schools delivering our hugely successful Fitness 8
Programme which focuses on nutrition and physical exerclse.
We ran our annual cycle to Lapland charity spin event in December , where all funds raised are donated to our
Chosen Charity - Northem Ireland Cancèr Fund for Children.
Flnancial Review
Greater Village Regeneration Trust , faced a difficult year , with the uncertainty of Government Fundlng and
potential cuts across departments , however it continued to plan and deliver on its core outputs and made plans
for development across some of its thematic areas.
staff continued to work extremely hard to ensure that local residents were supported and that our programs and
initiatives met their needs despite some challenging months across the sector.
Principal Funding Sources
GVRT continued to receive funding via Department for Communities Neighborhood Renewal Funding , which
has been essential in supporting projects through staffing and running costs. In addition to this GVRT was also in
receipt of funding from a range of other department such as '.
Awards for All
Belfast City Council
Northem Ireland Housing Executive
PBNI
Public Health Agency
Social Enterprise Funding
We would slncerely like to th8nk all the personnel of the various funding organizatlons for their support
throughout 2022123.

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management
Governing document
Greater Village Regeneration Trust is a charitable company limited by guarantee, incorporated in 1999 and
reconstituted on 11 July 2001. The company was established under a Memorandum or Association, which
established th8 objects and powers of the charilable company and is governed under its Articles of Association.
In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Greater Village Regeneration Trust was established in 1999 in response to public concerns about housing issues
in the area. However, there was local agreement that a more holistic approach to urban regeneration needed to
be adopted. in that the housing problems could not be looked at in isolation.
Issues such as affordable and appropriate18vels of employment, community facilities, learning and development
opportunities and the physical condition of the area all required urgent attention. This pressure came due to the
escalating decline in the locality, which was manifesting itself through increasing levels of social and economic
deprivation among the residents.
As a result the Greater Village Regeneration Framework Plan was developed to address needs through a range
of issues affecting the quality of life for local residents. Some of the key issues identified through cross-
referencing with socio-economic data and consultation with residents and stakeholders are unemployment, lack
of training opportunities, low education attainments, lack of economic activity and the need to generate derelict
buildings to create greater community usage and benefits.
The principal role of the Trust Board is to galvanise local efforts to articulate and dellver sustainable regeneration
in this community of the city of Belfast.
The directors who served during the year and up to the date of signature of the financial statements were:
Mrs P Stevenson
Mrs S Coulter Brown
MrA M Connolly
Reverend R Moore
Mrs H Harold
Recrultment and Appointment of Management Board
The directors of the company are also charity trustees for the purposes of charity law and under the company's
articles are known as members of the Management Board. Under the requirements of the Memorandum and
Articles ofA55ociation the members of the Management Board are elected to sit on the Board to serve for a one
year period after which they must be re-elected at the nexi Annual General Meeting.
Due to the nature of the work of Greater Village Regeneration Trust its membership is made up of
representatives from the local community, business, political and statutory sectors.
Organisational Structur8
Greater Village Regeneration Trust has a Management Board made up of 5 members who meet 10 times per
annum and are responsible for the strategic direction and policy of the charity.
All members have equal voting rights, with the Chaimian having the casting vote.
The Management Board is supported at an operational level by sulFcommittees I working groups which were
formed to develop the action plans for the Trust's development officers in line with the over-arching objectives of
the Trust's Regeneration.

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Dlsclosure of Informatton to audltor
Each of the dlrectots has confi￿ed that there Is no Informatlon of whith they are aware whlch is relevant to the
audit. but of which the auditor ts unaware. They have fijrther confi￿ed that th8y have taken approprlate steps to
idenlify SUGh relevant InfO￿allon arKI to establish that the audilor is aware of such Info￿natIOn.
The report has been prepared in accordance wfjth the special provisions for small rJ)mpanie8 under part 15 of the
Companle$ Act 2006
The dlr8Cto¢s report was approved by the Board of Dlrectors.
PArn Patrlela Stsven80n
Dlreclor
Dated..
Iqll...iÉc 13

GREATER VILLAGE REGENERATION TRUST LTD
STATEMENT OF DIRECTORS, RESPONSIBIUTIES
FOR THE YEAR ENDED 31 MARCH 2023
The diractors, who also act as tnjstees, are responsible for preparing the D1￿CtorS, Report and the financial
statements In accordance with applicable law and regulatlon.
Company law requlres the directcts to prepare financial statements for each financial year. Under that law the
dlrectors have prepared the financial slalements in accordance with United lfjngdom Accounilng Standards.
comprising FRS 102"The Financial Reporting Standard appli¢able In the UK and Republic of Ireland", and applicable
law Iunlled Kingdom Gènerally Accepted Accounisng Praclicel. Under company law the directors must not approve
the financi81 statements unless they are satlsfied that they giv8 a true and fair vigw of the stste of tho affair5 of the
arKI of the Incoming resources and appllcatlon of resources, includlng the incomo and expenditure of the charlty for
that perbj. In prepartng these finandal ststements. the directors are required to..
select sultsble accountlng polldes and than apply them con$lstenUy',
observe tha methods and prin￿pIeS in tho Statement of Recommended PractleA.' Accounilng and Rfrporting
by Charilles {20151'.
make judgments and esUmate¥ that are reasonable and prud8nt', and
prepare the fin8nclal statsmenls on the going concam basls unle$8 It is Inapproprfate to pr8sumo that the
charity will conttnu8 in busin885.
The dlrodors are responslbl8 for kegplng adequata acMunling records that are suffldent to show and explaln the
charity's transactlons and d15clo$e wllh reasonable a￿UraCY at any tim& the financial position of the tharlty and
enable them to en9ure that tha financlal statements comply wlth the Companies Art 2006. They are also r88ponslbl8
for safeguarding the assets ol the and henca for taking reasonable steps for the prevention and detectlon of fraud
arHI other irTegularilies.
Mrs Patrfcla Stevens
Director
Daled:

GREATER VILLAGE REGENERATION TRUST LTD
INDEPENDENT AUDITOR'S REPORT
TO THE DIRECTORS OF GREATER VILLAGE REGENERATION TRUST LTD
Oplnlon
We have audited the consolidated financial statements of Greater Village Regeneration Trust Ltd for the year ended
31 March 2023 which comprise the Consolidated Statement of Financial Activities {including Income and Expenditure
Account), the parent charitable company Statement of Financial Activities (including Income and Expenditure
Account), the Consolidated Statement of Financial Position, the parent charitable company Slatement of Financial
Position, the Consolidated Statement of Cash Flows and the related notes. These financial statements have been
prepared under the accounting policies set out therein. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard
102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable group and parent charltsble company's affalrs as at 31
March 2023 and of its incoming resotjrces and application of resources. for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in accordanc8 With Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the
financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we
have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to golng concern
In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting
in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast significant doubl on the company's ability to continue as a going
concern for a period of at least tNelve months from when the financial statements are authorised for issue.
Our responslbilities and the responsibilities of the dlrectors with respect to going concern are described in the relevant
sections of this report.
other Inforniatlon
The directors are responslble for the other information. The other infomiation comprises the information included In
the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial
statements does not cover the other information and, except to the extent otherwise explicilly stated in our report, we
do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement ofthe other information. If, based on the work we
have perfomed, we conclude that there is a material misstatement of thi5 Other information. we are required to report
that fact.
We have nothing to report in thi5 regard.

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Matters on which we are requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports)
Regulations 2008 require us to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with the directors report,.
or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records,. or
we have not received all the information and explanations we require for our audit.
Responslbilftles of dlrectors
As explained more fully in the statement of directorfs responsibilities, the directors are responsible for the preparation
of the financial statements end for being satisfied that they give a true and fair view, and for such internal control as
the directors detemiine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial statements, the directors are responsible for assessing the charity's ability to conts'nue as a
going concem, disclosing, as applicable. matters related to going concern and using the going concem basis of
accounts-ng unless the directors aither intend to liquidate the charitable company or to cease operations, or have no
realistic alternative but to do so.
Audltorfs responslblllties for the audlt of the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and lo issue an auditorfs report that includes our opinion.
Reasonable assurance is a high18vel of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when il exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. http.'1￿.fr¢.Org.ukJ8udIt0rsresponSlb1lltle$. This description forms part of our
auditor's ￿pOrt.
This report Is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work had been undertaken so that we might state to the charitable company's
members those matters we are required to state to them in an auditors, report and tor no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and
the charitable company's members as a body, for our audit worf(, for this report, or for the opinions we have formed.
Our approach to identifying and assessing the nsks of material misstatement in respect of irregularities, including
fraud and non-compliance wrth laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.. and
we identified the laws and regulations applicable to the company through discussions with directors andlor
senior management, and from our commercial knowledge and experience of the sector.

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
We focused on specific laws and regulations which we considered may have a direct material effect on the financial
statements or the operations of the company, including Companies Act 2006, tsxation legislation, data protection,
anti-bribery, employment, environmental and health and safety legislation..
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence, and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, includlng obtaining
an understanding of how fraud mlght occur, by..
making enquiries of management as to where they considered there was susceptibSllty to fraud, th6ir
knowledge of actual, suspected and alleged fraud., and
considering the internal controls in place to mitigate rlsks of fraud and non-compliance wlth lavts and
regulations.
To address the risk of fraud through management blas and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships.,
tested joumal entries to identify unusual transaction5-
assessed whether judgements and assumptions made in detemiining the accounting estimates set out in
Note 2 were indicative of potential bias; and
invests'gated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
included, but were not limited to:
agreeing financial statement dlsclosures to underlylng supporting documentation.,
reading the minutes of rneetlngs of those charged with governance.,
enquiring of rnanagement as to actual and potentlal litigation and claims,. and
reviewing correspondence with HMRC and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations
are from financial transactions, Ihe less likely it is that we would become aware of non-compliance. Auditing standards
also limit the audit procedures required to identity non-compliance with laws and regulations to enquiry of the directors
and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's
members those matters we are required to state to them in an auditorfs report and ft)r no other purpose. To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and
the company's members as a body, for our auditwork, for this report, or for the opinions we have formed.
Angela Cralgan FCA (Senlor Statutory Auditor)
Harblnson Mulholland
Chartered Accountants and Statutory Audltors
statutory Auditor
Centrepoint
24 Ormeau Avenue
Belfast
Co. Antrim
Northern Ireland
BT2 8HS
I91￿113
io

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Unrestrlcted
funds
Restrictsd
funds
Total
2023
Total
2022
Notes
Incoma from:
Donations and legacies
Charitable activities
Trading activits'es
Other income
1,670
93,434
139,103
7,582
1,670
463,197
139,103
7,582
2,750
494,115
113,387
11,480
369,763
Total Income
241,789
369,763
611,552
621,732
endlture on:
Charitable activities
Tradlng activities
138,109
110,480
248,589
369,763
507,872
110,480
529,206
90,328
619,534
369,763
818,352
Net {expendlture)Ilncome for the yearl
Net movement In funds
{8,800)
16,800)
2,198
Fund balances at 1 April 2022
1,249,340
1,249,340 1,247,142
Fund balances at 31 March 2023
1,242,540
1,242,540 1,249,340
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statemenl of financial activities also complies with the requirements for an income and expendilure account
under the Companies Act 2006.
The notes on pages 18 10 29 form part of these financial statements.

GREATER VILLAGE REGENERATION TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES OF THE CHARITY ALONE
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Unre8tricted Restrlctsd
funds
funds
Total
2023
Total
2022
Notes
Income from:
Donations and legacies
Charitable activities
Other income
1,670
93,434
7,582
1,670
463,197
7,582
2,750
494,115
11,480
369,763
Total Incomo
102,686
369,763
472,449
508,345
Ex
endlture on:
Charitable activities
138,109
369,783
507,872
529,206
Net lexpendlturolllncome for the yearl
Net movement In fund8
(35,4231
(35,423) (20,861)
Fund balances at 1 April 2022
1,203,830
1,203,830 1.224,691
Fund balances at 31 March 2023
1,168,407
1,168,407 1,203,830
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financlal activities also complies wlth the requirements for an income and expenditure account
under the Companies Act 2006.
The notes on pages 18 to 29 form part of these financial statements.
12

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT31 MARCH 2023
2023
2022
Notes
Flxed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
10
1,088,711
1,125,497
12
54,028
133,196
52,288
117,635
187,224
169,923
Credltors: amounts falllng due wlthln
one year
14
(26,2131
(36,118)
Net current assets
161,011
133,805
Total assats add current assets
1,249,722
1,259,302
Crndltors: amounts falllng due after
more than one year
16
(7,182)
(9,962)
Net assets
1,242,540
1,249,340
Income funds
Restricted funds
Unrestricted funds
Designated funds
General unrestricted funds
16
17
1,069,855
172,685
1,100,012
149,328
1,242,540
1,249,340
13

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS A T31 MARCH 2023
The Group is entitled to the exemption from the audlt req￿rement contained in SeGtin 477 of the Companies Act
2006. for th& year ended 31 March 2023, although an 8LKlil has been carrled out und8r section 65 of the Charlties
Act {Northem Ireland) 2008. No member of the Group has deposlted a nolic8, pursuant to seGtion 476. requiring an
audit of these accounts under the requirements of the Companies Act 2006.
The directors acknowledge their r8spon$lbllllle3 for ensurfng that the Group keeps accountlng records whlch comply
with section 386 ofth8 Act arKI for preparing financial statements which give 8 true and fair vsew of the sLite of affairs
of the group as at the end of the fin8ncial year and of Its incoming resources and application of resources. i￿luding
ils income and expendllure, for the financial year In accordance with the requirements of sections 394 and 395 ar>J
which otherwlse comply with the requlrements of the Companies Act 2006 relating to financlal statements, so far as
applicabie to the group.
Th•s• llnandal statements hava been prepared In awrdance wlth tho provlslon$ applicable to companles subject
to tho small wmpanie$ reglme.
Th? financlal 5tatsrnents wer8 8pprov8d by tho Directors on........ ...
Mrd Patrlcla Sl•v•n8on
Dlr•ctor
RKg1•fitr0irN￿Nl0l125
The not89 on p8ges 18 to 29 fomi part ofthese financial $tatsm8nts
14

GREATER VILLAGE REGENERATION TRUST LTD
CHARITY STATEMENT OF FINANCIAL POSITION
AS A T31 MARCH 2023
2023
2022
Notes
Flxed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
11
1,071,487
1.102,875
12
64,412
42,843
87,593
58,907
107,255
126,500
Credltors: amounts falllng due wlthln
one year
14
(10,335)
(25,545)
Net current assets
96,920
100,955
Total assets add current assets
1,168,407
1,203,830
Credltors: amounts falllng due after
more than one year
15
Net assets
1,168,407
1,203,830
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
General unrestricted funds
17
1,069,988
98,419
1,100,012
103,818
1,168,407
1,203,830
15

GREATER VILLAGE REGENERATION TRUST LTD
CHARITY STATEMENT OF FINANCIAL POSITION (CONTINUED)
ASA T31 MARCH 2023
The company is antided to the exemption from th& aLMlit requiromont ¢onlalned in Section 477 of the Companies Act
2008, for the year ended 31 March 2023, although an audit has been carried out under seGlion 65 of the Charftles
Act (Northem Ireland) 2008. No member of the company has deposited a nouce, pursuant to secllon 476, requiring
an audlt of these accounts under the requirements of the Companies Act 2006.
Th8 directors ad(nowledge thelr responsibilities lor ensurlng that the charity ke8P5 accounting records whlch comply
wlth section 386 of the Act and for preparfng financial statements which giv8 a true and fair view of the slate ofaffairs
of the company as at the end of the financial year and of its incoming resource5 and application of rasources. including
its income and expendlture. fDr the financial year in accordanc8 with th8 requirements of s8Ctions 394 and 395 and
which othe￿158 comply with the requirements of Ihe Companies Aci 2006 relating to financial statements, so far as
appllcable to the company.
Th6$0 flnandal gtstements have baen prepared In accordance wlth the provisions app11¢8bl8 to companlos sutr4ect
to the $mo11 ￿mpaNIeS regime.
The finandal statements We￿ approved by the Dlrectors on ......
PatrlGla Stsvon8on
Dlr•ctor
mpany
I￿ation
Th8 notes on page8 18 to 29 fomi part of th8se financlal statemants
16

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Notes
Cash flows from operatlng actlvltles
Cash generated from operations
20
34,553
26,583
Investlng actlvltles
Purchase of tangible fixed assets
(700)
{21,560)
Net cash used In Inv88tlng actlvlties
(700)
(21,560)
Flnanclng actlvltles
Repayment of borrowings
Net movement in hire purchase
(15,513)
(2,780)
(19,653)
12,742
Net cash usad In flnanclng actlvltl•8
(18,2931
(6,911)
Net Increa8• In cash and cash oqulvalents
15,560
11,888)
Cash and cash equlvalents at beginning of year
117,635
119,523
Cash and cash equlvalonts at end of year
133,195
117,635
The notes on pages 18 to 29 form part of these financial 8tatement$,
17

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting pollcles
Charity informatlon
Greater Villag8 Regeneration Trust Ltd is a private company limited by guarantee incorporated in Northem
Ireland. The registered office is 337 Donegall Road, Belfast, Antrim, BT12 6FQ.
1.1 Accountlng conventlon
The financial statements have been prepared in accordan￿ with the charity's memorandum & articles of
association, the CompaniesAct 2006 and"Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102)" (as amended for accounting perlods commenclng from
1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statéments are prepared in sterling, which is the functional currency of the group. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historlcal cost conventlon. The principal accounting
policies adopted are set out below.
These financial statements consolidate the results of the Charity and the Community Interest Company,
TRE-ECO Maintenance Services CIC on a line-by-line basis.
1.2 Golng concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group
has adequate resources to continue in operational existence for the foreseeable future. Thus the directors
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the directors in furtherance of their charltable
objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financial statements,
Endowment funds are subject to specificconditlons by donors thatthe capital rnust be maintained bylhecharity.
1.4 Income
Income is recognised when the charity is legally entitled to it afler any performance conditions have been met,
the amount5 can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or othe￿iSe if the charity has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent
asset.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts
receivable for goods and services provided in the normal course of business, net of discounts, VAT and other
sales related taxes.
18

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting pollcles
1.5 Expendlture
Expenditure on charitable activities comprises all resources applied by the charity when working to meet its
charitable objectives. This includes support costs allocated to activities on the basis of time spenl on those
activities.
1.6 Tanglble fix8d assets
Tangible fixed asset5 are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Leasèhold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehlcles
Equipment
20A per annum straight line
200A per annum straight line
20QA per annum straight line
25 % per annum straight line
100A & 20 % per annum straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in net incomel(expenditure) for the year.
1.7 Impairment of flxed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to detemine whether
there is any indication that those assets have suffered an impairment loss. If any such indication exists, the
recoverable amount of the asset is estimated in order to determlne the extent of the Impairment loss (if any).
Intangible assets with Indefinite useful lives and intangible assets not yet available for use ere tested for
impairment annually, and whenever there is an indication that the asset may be impaired.
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Flnanclal Instruments
The charity has 81ected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Baslc financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts discounted at a market rate of interest. Financial assets classified as
receivable within one year are not amortised.
19

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng policies
Basic flnancial Ilabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effectiva interest rate method.
Trade creditors are obligations to pay for goods or seN[￿S that have been acquired in the ordinary course of
operations from suppliers Amounts payable are classified as current liabilitiès if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transactlon
price and subsequently measured at amortised cost using the effective interest method.
Derecognitlon of flnanclal liabilitles
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity Is demonstrably committed
to temiinate the employment of an employee or to provide termination benefits.
1.11 Retlrement benefit8
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Crltlcal accountlng estlmates and Judgements
In the appllcation of the charity's accounting policies, the d1￿CtorS are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilitie5 that are not readily apparenl from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountlng
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the ￿vIsion and future periods where the revision affects both current and future
periods.
Key sources of estlmation uncertainty
Tanglble fixed assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate.
The actual lives of the assets are assessed annually and may vary depending on a number of factors. In
reassessing asset lives factors such as maintenance programmes are taken into account. Residual value
assessments consider such as the remaining life of the asset and its estimated value in use.
20

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Donations and legacles
Unrestrlcted
funds
Total
2023
2022
Donations and gifts
1,670
2,750
Charftable actlvltles
2023
2022
Income
463,197
494,115
Analysis by fund
Unrestricted funds
Restricted funds
93,434
369,763
463,197
For the year ended 31 March 2022
Unrestricted funds
Restricted funds
95,302
398,813
494,115
Other Income
2023
2022
Other income
7,582
11,480
All other income was unrestricted in both p8riods.
21

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charitable activities
2023
2022
Staff costs
Depreciation and impainnent
Cost of activities in furtherance of project objectives
Premises costs
staff training
Bank charges
Computer expenses
Office expenses
Audit fee
256,230
31,388
139,582
14,449
1,659
3,365
8,720
47,379
5,100
229,988
36,015
188,226
11,623
5,766
4,175
12,225
36,110
5,100
507,872
529,206
507,872
529,206
Analy818 by fund
Unrestricted funds
Restricted funds
138,109
369,763
507,872
For the year ended 31 March 2022
Unrestricted funds
Restricted funds
161,088
368,120
529,206
Dlrectors
None of the directors (or any parsons connected with them) received any remuneration or benefits from the
group during the year.
22

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Employeas
Number of employees
The average monthly number employees, excluding directors, during the year was..
2023
Number
2022
Number
10
11
Employment Costs
2023
2022
Wages and salaries
Social security costs
Other pension costs
208,266
33,308
14,656
200,403
15,116
14,447
256,230
229,966
The remuneration of key management personnel is as follows.
2023
2022
Employee benefit8
141,992
99,092
The charity considers its key management personnel to be the senior management team, which comprises of 4
(2022.. 3) members of staff.
There were no employees (2022.. none) whose annual remuneration was £60,000 or more.
23

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
INCOME FROM TRADING ACTIVITIES
Greater Village Regeneration Trust Limited is the sole member of TRE-ECO Maintenance SerVi￿s
Community Interest Company (company number N1643953). The summary financial performance of
the subsidiary alone is-.
2023
2022
Tumovar
Administration costs
139,103
102,617
113,387
Operating profiU{loss)
36,486
28,679
Investment Income
Flnance costs
947
394
Profit before taxatlon
Tax
35,499
6,916
28,285
Retained in subsidiary
The assets and liabilities of the subsidiary alone were..
Non-current assets
Current assets
Current liabilities
17,224
103,375
46,466
22,621
66,830
43,961
Total net assets
74,133
45,510
Aggregate share capital and reserves
24

T¥ fyfj kl

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
12 Debtors
Group
2023
Company
2023
2022
2022
Amounts falllng due withln one
year:
Other debtors
Prepayments and accrued income
Amount owed to subsidiary
43,832
10,196
33,223
19,065
30,810
10,196
23,406
25,122
19,065
23,406
54,028
52,288
64,412
67,593
13 Loans and ov•rdraft8
Group and Company
2023
2022
Other loans
15,513
Payable within one year
Payable after one year
15,513
UCIT hold securlty by way of an all monies charge and deed of covenant charged on the
properts'es of the charity situated at Donegall Road, Belfast.
14 Credltors: amounts falllng duo wlthln one year
Group
2023
Company
2023
2022
2022
other loans
Other creditors
Accruals and deferred income
15,513
11,913
8,692
15,513
2,840
7,192
16,841
9,372
2,463
7,872
26,213
36,118
10,335
25,545
15 Credltors: amounts falling due after morè
Group and Company
Group
2023
Company
2023
2022
2022
Other loans
Hire purchas8
7,182
9,962
27

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes:
Movement In funds
Incoming Rèsourcas
Balance at
re8ourco$
expended 31 March 2023
Balanca at
1 April 2022
Belfast City Councll
Northem Ireland Housing Executlve
Department for Communities
Public Health Agency
Coment
National Lottery
Princes Trust
62,264
28,781
114,319
74.626
36,658
8,250
7,116
(62,264)
{28,781)
(114,319)
(74,626)
(36,658)
(8,250)
17,118)
r_li
SCRDC
South City
Tree Central
Rank
Other small grants
5,339
2,150
3,500
34,000
15,339)
(2,150)
13,500)
134,000)
369,762
1369,762)
Restricted funds represent various projects funded with specific restrictions as shown previously.
In the event of a small shortfall in a restricted fund a transfer from unrestricted reserves is made to fund the
project to completion.
17 Doslgnatod funds
The income funds of th8 charlty Include the followin9 designated funds which have been set aside out of
unrestricted funds by the trustees for specific purposes:
Balance
at 1 April
2022
Transfers Re3our¢es Balance at
expended
31 March
2023
Property
1,100,012
(30,024)
(30,024)
1,069,988
1,069,988
1,100,012
The directors have designated funds to represent capital grants received which are transferred to general
funds as the corresponding asset is depreciated.
28

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
18 Analysis of net assets between funds
Unrestricted Restricted
2023
2023
Total
2023
Total
2022
Fund balan￿8 at 31 March 2023 are
represented by..
Tangible assets
Current assetsllliabilities)
Long temi liabilities
1,088,711
161,011
{7,182)
1,088,711
161,011
(7,182)
1,125,497
133,805
(9,962)
1,242,540
1,242,540
1,249,340
19 R8lated party transactlons
There were no disclosable related paty transactions during the year (2022 - none).
20 Cash genefatsd from operatlons
Group
2023
2022
(Deficitllsurplus for the year
16,800)
2,198
Adjustments for..
Depreciation and impairment of tangible fixed assets
37,486
39,010
Movements in working capital..
Decreasallincrease) in debtors
(Decrease)lincrease in creditors
(1,740)
5,607
{14,857}
233
Cash generated from operations
34,553
26,584
21 Retlrement beneflt schemos
Deflned contrlbutlon schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £14,656 (2022 - £14,447).
22 Subsldiaries
Details ofthe company's subsidiaries at 31 March 2023 are as follows..
Name of
undertaking
Registered
offlce
Nature of
business
Own8rship
TRE-ECO
Maintenance
servI￿s CIC
As above
Maintenance
Services
Sole member of
cic
29