Charity Registration No. 103649
Company Registration No. N1041258 (Northorn Ireland)
GREATER VILLAGE REGENERATION TRUST LTD
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

GREATER VILLAGE REGENERATION TRUST LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Mrs P Stev8nson
Mr A M Connolly
Ms M Johnston
Mscorr
Mrs H Harold
Mr G Nicholl
(Appointed 18 Seplember 2024)
(Appointed 20 May 2024)
(Appointed 20 May 2024)
Secretary
Mrs P Stevenson
Charity number
103649
Company number
N1041258
Reglstered offlce
337 Donegall Road
Belfast
Co. Antrim
BT12 6FQ
Auditor
Harbin8on Mulholland
Cenlrepoint
24 Omeau Avenue
Belfast
Co. Antrlm
BT2 8HS
Bankers
AIB
35 University Road
Belfast
Co. Antrim
BT7 1ND

GREATER VILLAGE REGENERATION TRUST LTD
CONTENTS
Pago
Director5, report
Statement of directors, re8ponsibilitl88
Independent audlto¢s report
7-10
Statement of financial activities
stat8ment of financial position
13-16
statement of cash fiow8
17
Notes to the financial slatements
18-29

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The directors present their report and financial statements for the year ended 31 March 2024.
Objectives and activities
Using a holistic approach to urban regeneration, GVRT is involved in projects that touch every aspect ofcommunity
Thematic Areas of con￿ntratIon for GVRT:
Community Safety: crime p￿VentIOn initiatives, youth-diversionary programmes;
Culture & Arts.. public art, culiural murals, and history projects;
E¢onoml¢ Development: supporting local businesses, providlng business incubation units-
Elderly.. phy8ical activity projects, Int8r-gener8tional events,.
Employment: acuedlted training programmes, Job Matchlng Service, Careers Advice, one-to-one
support..
Environment: parks, allotments, graffiti removal, street lighting, bin5, and clean-up campaigns;
Health.. accredited programmes and activities in the area to promote positive health and well-being
mess8ges',
Housing: Village Urban Renewal Area, support for accessing grants I transfers I repairs, Housing Rights
Advice service,.
Physical Development.. working with statutory agencies and the private sector to encourage d8velopment
of brownfield sites, derelict buildings and open spaces.,
Sport= working wilh schools, youth clubs, comrnunity organisalions and new and existing sports clubs on
differènt initiatives.,
Tralnlng.. Construction skills, work experience in the community, Health and Fitness trainlng;
Youth: range of educational, cultural (inc. cross•community). sports and faclllty development programmes.
Achi•v•m•nts and perh)rmance
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 cornmunity and this year seen us proadively try to encourage and
support the local community to get on the social housing waiting list and lobbied the NIHE lo complele a latent
demand suNey of the area to try and evidence the need for additional social housing in this community.
Across the year we have worked alongside other relevant authorities ￿gardIng 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 2024
Community Safety
GVRT hav8 workad on a range of community safety issues and organized a wide range of projects over the past
year.
GVRT secured a large sum of funding from Belfast City Council to d81iver Summer Diversionary Activities across
the Summer Months , to try and tackle Anti-social Behaviour and promote positive cultural expression. It acled as
the lead partner across a consortiurn of various other communities such as Finaghy and Taughmonagh , Bélvoir ,
Annadale , Suffolk , Sandy Row and Donegall Pass.
We continue to work closely with the PCSP, PSNI and Northem Ireland Housing Executive lo overcome and
resolve any issues which may arise.
Economic Development
GVRT has continued to focus on developing our Rlchview Regeneration and thi8 year seen us flnally have all our
business units rented out to businesses. We continue to support South Belfasl Sure start who lease the bottom
floor and they continu8 to thrive and help children and parents within the area with a range of programs and
initiatives.
Our efflployment r81ated advice seryice was extremely busy across the year providing support to residerrts with CV
creation Job Search and Job Application and we continued to build links with existing and new employers across
the year.
Our TREE Training Centre has corbtinued 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 lo build a new and improved premises in the
local community which will in turn allow us to provide more servI￿S and work with a greater number of residents.
Blythefield Pitch
We continued to work with local teams and The South Belfast Youth League and Linfield Football Club , who 811
use the facility. Alongside this we supported the local primary schools and youth clubs who all use Ihe facility for
Sports Day and Community Events.
Well Women's Group
The group 18 sitting wlth 15 members, all of whom are over 50 years old. The group have taken part in various
projects throughout the year and enjoyed being given the opportunity to soclalls8 and meet with other groups.

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Health and Well Being
We continue to receive funding from Public Health Ag8ncy and through this run various health related programs
and initiatives for residents such as , Self-Love
Club , Cook il , Older and Active , Sole Sisters Walking Group , Zumba , Yoga.
Throughout the yéar we worked in the three local primary schools dèlivering our hugely successful Fitness 8
Programme which focuses on nutrition and physical exercis8.
We ran our annual cycle to Lapland charity spin event in De￿rnber , where all funds raised are donated to our
Chosen Charity- Northern Ireland Cancer Fund for Children.
Financial Review
Greater Villag6 Regeneration Trust , faced a drficull year . with th8 uncertainty of Government Funding and
potential cuts acros5 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 extrernely hard to 8nsure 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 sincerely like lo thank all the personnel of the varlous funding organizalions for their support
throughout 2023124.

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, govemance and management
Governing document
Greater Village Regeneration Trust is a charitable cornpany limited by guarant88, incorporated in 1999 and
reconstituted on 11 July 2001. The company was establishèd under a Memorandum or Association, which
established the objects and powers of the charitable 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 lo public concerns about housing issues
in the area. However, there w85 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 appropriate levels of employment, community facilities, learnlng and dev8lopment
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 addr8ss 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 generat8 derelict
buildings to create greater community usage and benefits.
The principal role of the Trust Board 18 to galvanise local efforts to articulate and deliver sustainable regeneration
in this community of thè city of Belfast.
The direclors who served during the year and up to the date of Signatu￿ of the financial statements were..
Mrs P Stevenson
Mrs S Coulter Brown
Mr A M Connolly
Reverend R Moo
Mrs H Harold
Mscorr
Mr G Nicholl
Mr M D Johnston
(Resigned 7 October 2024)
(Resigned 20 May 2024)
(Appointed 18 September 2024)
Recruitment and Appointment of Management Board
The directors ofthe company are also charlty truslees for the purposes of charity law and under the company's
arts'cles are known as members oflhe Management Board. Under ihe requirements ofthe Memorandum and
Artides of Association 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-eleded at the next Annual General Meeting.
Due to the nature of the work of Greater Village Regeneration Trust ils membership is made up of
representstives from Ihe local community, business, political and statutory sectors.

GREATER VILLAGE REGENERATION TRUST LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Organisational Structure
Greater Village Regeneration Trust has a Manggement Board made up of 5 member5 who meet 10 times per
annum and are responsible for the strat8gic direction and policy of the charity.
All members have equal voting rights, with the Chaiman having the casting vote.
The Management Board is supported at an operational level by sub-committe8s I worklng groups which were
formed to develop the aGlion plans for the Trust's development officers in line with the over-arching objectives of
the Trust's Regeneratlon.
Disclosure of Informatlon to audltor
Each of the directors has confirmed that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They hav8 fijrther confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such information.
The report has beén prepared in accordance with the special provisions for small companies under part 15 of the
Companies Act 2006
The dlrectorfs report was approved by the Board of Directors.
Mrs Patricia Stevenson
Director
Dated..
i.st..i.zi.z

GREATER VILLAGE REGENERATION TRUST LTD
STATEMENT OF DIRECTORS, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The directors. who also act as trustees. are responsible for preparing the Directors. Report and the financial
statements in accordance with applicable law and regulation.
Company law requires the directors to prepar8 financial statements for each financial year. Under that law the
dIre￿or$ have prepared the financial statements in accordance with United Kingdom Arxounting Standards,
comprising FRS 102 "The Financial Reporting St8ndard applicable in the UK and Republic of Ireland" and applicable
law (United Kingdom Generally Accepted Accounting Practi￿). Under company law the directors must not approve
the financial statements unless they are satisfied that they give a true and fair view of the ststè of the affairs of the
and of the incoming resources and application of resources, including the income and expenditure of the charity for
that period. In preparing these financial statements, the directors are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Slatement of Recommended Practice.. Accounting and Reporting
by Charrties (2015).,
makè judgments and estimates that are réasonable and prudent., and
prepare the financial statements on the going concern basis unless it Is Inappropriate to presume that the
Charity will continue in business.
The directors are responsibl8 for keeping adequgle accounting records that are 5uffiaent to show and explain the
charity's transactions and disclose with reasonable accuracy at any time the financial position of the chanty and
enabl8 them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible
for safeguarding the assels of the and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
Mrs Patricla Stevonson
Dlrector
1.24.1.ZlZLfv

GREATER VILLAGE REGENERATION TRUST LTD
INDEPENDENT AUDITOR'S REPORT
TO THE DIRECTORS OF GREATER VILLAGE REGENERATION TRUST LTD
Opinion
We have aUd￿ted the consolidated financial statements of Greater Village Regeneration Trust Ltd for the year ended
31 March 2024 which Gomprise the Consolidated Statement of Financial Activities (including Income and Expenditure
Account). the parent charitable company Slat8m8nt of Financial Activities (including Income and Expenditure
Account), th6 Consolidated Statement of Financial Position. the parent charitable company Statement of Financial
Position, the Consolidated Statement of Cash Flows and the related notes. These financial statements have been
prepared under the accounting policies sèl out Iherein. 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 th8 charitable group and parent charitable company's affairs as at 31
March 2024 and of its incoming resources and application of resources. for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepled Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with Internalional Standards on Auditing (UK) IISAS (UK)) and applicable law.
Our responsibilitie5 under those standards are furtheT described in the Auditor's responsibilities for the audit of the
financial statements section of our report. We are independent of the chaflty in accordance with the ethical
requirements that are relevant to our audit of the account5 in the UK, including the FRC'S Ethical Standard, and we
have fulfilled our other 8lhical responsibilities in accordance with these requirements. Wa believe that the audit
evidence we have obtained is sufficient and appropriate to provide 8 basis for our opinion.
Conclusions relating to going concèrn
In auditing the financial statemenls, we have concluded that the directors, use of the going concern basis of accounting
in the preparation of thè financial statements is appropriate.
Based on th8 work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may ¢asl signfficanl doubt on the company's ability to continue as a going
concern for a perlod of at least ￿e1ve months from when the financial statements are authorlsed for issue.
Our responsibilities and the responsibililies of the directors with respect to going concern are described in the rèlevant
sections of this report.
Other informatlon
The directors are responsible for the other infomiation. The other information comprises the information included in
the annual report, other than the financial statemenls and our auditorfs report thereon. Our opinion on the financial
statements does not cover the other information and, except to the extent otherwise explicitly 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 inconsislent with the financial stslements 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 malerial misstatement of the olher information. If, based on the work we
have perfomied, we conclude that there is a material misstatement of this 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 2024
Matters on whieh we are required to report by exceptlon
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 directols report;
or
sufficient accounting records have not beèn kept.. or
the financial statements are not in agreement with the accounting records; or
we have not received all Ihe information and explanations wè r8quire for our audit.
Respon3ibilltles of directors
As explained MO￿ fully in the stalemenl of directorfs responsibilities, the directors a￿ responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as
the directors d8t8rmine is necessary to enable the preparation of financial statements that are free from mat8rial
misstaternent, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the charity's ability to continue as a
going concem, disclosing, as applicable, matters related to going concem and using the going concem basis of
accounting unless the directors 81ther intend to liquidate th8 charitable company or lo cease operations, or have no
realistic alternative bul to do so.
Auditor's responslbilities for the audit of the financial ststsmgnts
Our objectives are to obtain reasonable assurance about whether the financial statements a5 a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS {UK) will always detect a malerial misstatement when it exists. Mlsstatements 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 responsibilitles for the audit of the financial statement5 18 located on the Financial
Reporting Council's website at.. http.'IfvMw.frc.org.uklauditorsresponsibilities. This descrlption forms part of our
auditorfs report.
This report is made solely to the charilable company's members, as a body, in accordance wilh Chapter 3 of Part 18
ofthe 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 slate to them in an auditors, report and forno other purpose. To the fullest
extent pemiilted by law, we do not accept or assume responsibility to anyone other than the charitable company and
the charitable Company's members a5 8 body, for our audit work, for this report, orfor the opinions we have formed.
Our approach to identifying and assesslng the risks of material mlsstatement in respect of irregularities, induding
fraud and non-¢ompllan¢e with laws and regulalions, 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 law5 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 ofthe sector.

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
We focused on specific laws and regulations which we considered fflay have a direct material effect on the financial
statements or the operations of the company, including Companies Act 2006, taxation legislalion, data protection,
anti-bribery, employment, environmental and health and safety legislation..
we ass8SS8d 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 instsnces of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtsining
an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, thelr
knowledge of actual, suspected and alleged fraud, and
considering the internal controls In place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and overrfde of controls, we..
performed analytical procedures to identify any unusual or unexpected r8lationship8;
tested joumal entries to identify unusual transactions.,
assessed whether judgemenls and assumptions made In determining the accounting estimates set out In
Note 2 were indicative of potential bias,. and
investigated the rationale behind slgnificant or unusual Iransa¢tlons.
In response to the risk of Ir￿QuIar1tieS and non-compliance with laws and regulations, we designed procedures which
included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation.,
reading the minutès of meetings of those charged with governance.,
enquiring of management as to actual and potential litigation and claims,. and
reviewing correspondence with HMRC and the company's legal advisors.
There S￿ inherent limitations in our audit procedures described above. The more removed thal laws and regulalions
are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards
also limit the audit procedures required to identify non-compliance wilh laws and regulations to enquiry of the directors
and other management and the inspection of r8gulatory and legal correspondence, if any.
Material misst8teTnenls 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 2024
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
18 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 for no other purpose. To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the company and
the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Angela Craigan FCA (Senlor Statutory Audltor)
Harbln80n Mulholland
Chartgred Accountants and Statutory Auditor8
Statutory Auditor
Centrepoint
24 Ormeau Avenue
B8lfast
Co. Antrim
North8m Ireland
BT2 8HS
13111114-
10

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
Restricted
fund8
Total
2024
Totsl
2023
Notss
Income from:
Donations and legacies
Charitable activities
Trading activities
Other income
1.714
132,590
109,146
9,627
1,714
568.493
109,146
9,627
1,670
463,197
139,103
7,582
435,903
Total income
253,077
435,903
688,980
611.552
endlture on:
Charitable activilies
Trading activities
146,110
106.682
420,993
567.103
106.682
507,872
110,480
252,792
420,993
673,785
618,352
Net lexpéndlture)lincome for the yearl
Net movement in fund8
285
14,910
15,195
(8,8001
Fund ba18nces at 1 April 2023
1,242,540
1,242,540 1,249,340
Fund balances at 31 March 2024
1,242,825
14,910
1,257,735 1,242,540
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 financial activities also complies with 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 ststements.

GREATER VILLAGE REGENERATION TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES OF THE CHARITY ALONE
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrictsd Restricted
funds
funds
Total
2024
Total
2023
Notas
Incorn
from:
Donations and legacies
Charitable activities
Other income
1,714
132,590
9,627
1,714
568,493
9,627
1.670
463,197
7,582
435,903
Total Income
143,931
435,903
579,834
472,449
nditure on..
Charitable activities
146,110
420,993
567,103
507,872
Net (oxpendlture)Ilncomo for the yearf
Net movement In funds
(2,1791
14,910
12,731
(35.423)
Fund balance8 at 1 April 2023
1,168.407
1,188,407 1,203,830
Fund balance8 at 31 March 2024
1,166,228
14,910
1,181.138 1,168,407
The statemént of financlal activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Th8 ststement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
The notes on pages 18 to 29 form part oflhese financial stst8ment8.
12

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT31 MARCH 2024
2024
2023
Notes
Fixed as8èt8
Tangible assets
Current assets
Debto
Cash at bank and in hand
10
1,063,708
1,088,711
12
49,734
171,137
54,028
133,196
220.871
187,224
Creditors: amounts falllng due wlthln
one year
14
{22.442)
(26,213)
Net current assets
198,429
161,011
Total a88ets add current 33gets
1,262,137
1,249,722
Crnditors: arnounts falling dua after
rnore than one year
15
<4.402>
(7,182)
Net a8•et8
1,257,735
1,242,540
Income fund8
Restricted fvnds
Unr8stri
ed fijnds
Designated funds
General unrestricted fund8
16
14,910
17
1,039,964
202,861
1,069,855
172,685
1,242,825
1,242,540
13

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS A T31 MARCH 2024
The Group is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2024, although an audit has been carried oul under section 65 of the Charities
Ad (Northem Ireland) 2008. No member of the Group has deposited a notice, pursuant lo section 476, requiring an
audit of these accounts under the requirements of the Companies Act 2008.
The directors acknow18dge their responsibilities for ensuring that the Group keeps accounting records which compty
with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs
of the group as al the end of the financial year and of its incoming resources and application of resources, including
its income and expenditure, for th8 financial year in accordance with the requirements of sections 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statemants, so far as
applicable to the group.
These financial statements have been pr8pared in accordance with the provisions applicable to companies subject
to Ihe small companies regime.
The financial statements were approved by the Directors on
.1.24.AZI.Zt4
Mr8 Patrfcla Stevenson
Director
Company Registration No. N1041258
Th8 notes on pages 18 to 29 form part of these financial statements
14

GREATER VILLAGE REGENERATION TRUST LTD
CHARITY STATEMENT OF FINANCIAL POSITION
AS A T31 MARCH 2024
2024
2023
Notss
Flxed assets
Tangible assets
Current a88ets
Debtors
Cash at bank and in hand
11
1,040,098
1,071,487
12
66,335
87,878
64,412
42,843
154,213
107,255
Creditors: amounts falllng due wlthln
one year
14
(13,174)
110,335)
Net Current assets
141,040
96,920
Total a•8ets add current asset8
1,181,138
1,168,407
Crodltors: amounts falllng due after
more than one year
16
Net a88ets
1,181,138
1,168,407
Income fund8
Restricted funds
16
14,910
Unrestricted funds
Designated funds
General unrestricted funds
17
1,039,964
126,264
1,069,988
98,419
1,166,228
1,168,407
15

GREATER VILLAGE REGENERATION TRUST LTD
CHARITY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS A T31 MARCH 2024
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Ad
2006, for the year ended 31 March 2024, although an audit has been carried out under section 65 of the Charities
Act (Northern Ireland) 2008. No member of the company has deposited a notice, pursuant lo section 476, requiring
an audit of these arxounts und8r the requirements of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which compty
with section 386 of the Act and for preparing financial statements whith giv8 a true and fair view of th8 state of affairs
of the company as at the end of the financial y8ar and of its incoming resources and application of resources, including
its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and
which otherwise comply with thè requirements of the Companies Act 2006 relating to financial stalements. so far as
applicable to the cornpany.
These financial statements have been pr8pared in accordenc8 with the provisions applicable to companies subjèct
to the small companies regime.
The ffinancial statements were approved by the Directors on .
!.Sl.kzi.z(4
Mrs Patrlcla StevenBon
Dlrector
Company Regi8tratlon No. N1041258
The notes on pages 1810 29 fomi part of these financial statements
16

GREATER VILLAGE REGENERATION TRUST LTD
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operatlng actlvltle8
Cash gènerated from operations
20
54,209
34,553
Investlng actlvltie8
Purchase of tangible fixed asset8
(13.488>
(700)
Net cash used in inv¢•tlng a¢tlvltles
(13,488)
{700)
Financlng actlvltles
Repayment of borrowings
Net movement in hire purchase
(15,512)
12,780)
(2,780)
Net ca•h u•ed In flnancing activltles
{2,780}
(18,292)
Net Increase In Cash and cash equivalents
37,941
15,561
Cash and cash 8quivalent6 at beginning of year
133,196
117,635
Ca8h and cash equlvalents at gnd of year
171,137
133,196
The notes on pages 18 10 29 fom part of these financial statements.
17

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policie8
Charity information
Greater Village 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 Accounting convention
The financial statements have b8en prepared in accordan￿ with the charity's memorandum & articles of
association, the Companies Act 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 (FRS 102)" (as amended for accounting periods commencing from
1 January 20161. Th8 charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prèpared In sterling, which is the functional currency of the group. Monetary
amounts in these financial stalemenls are rounded to the nearest £.
The financial slatements have been prepared under the historical cost conventlon. The principal a¢¢ountlng
poliaes adopted are set out below.
These financi81 stat8m8nls consolidate Ihe results of the Charity and the Community Interest Company.
TRE-ECO Maintenance Servlces CIC on a line-by-line basis.
1.2 Going concern
At the lime of approving the financial statements, the directors have a reasonable expectation that th8 group
has adequate resources to continue in operational existence for the forèseeable future. Thus the directors
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charltable fund8
Unrestricted funds are avallabl8 for use at the discretion of the directors in furtherance of their charitable
objedives unless the funds have been deslgnated for other purposes.
Restricted funds are subject to Specific conditions by donors as to 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 specific conditions by donors that the capilal must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any perfomiance conditions have been met,
the amounls can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on rèceipt. 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 tD donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise 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.
Tumover is measured at the fair value of the consideration received or receivable and represents amounts
re￿Ivable for goods and services provided in the nomial course of business. net of discounts, VAT and oth8r
sales related taxes.
18

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policieB
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 acts'vities on the basis of tim8 spent on those
activities.
1.6 Tanglblo flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is rècognised 80 as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Leas8hold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Equipment
2Yo per annum straight line
20ty/4 per annum straight line
200/0 per annum straight line
250/0 per annum stralght line
100/4 & 20Yo per annum straight line
The gain or Ioss 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 determine whether
there is any indication that those assets have suffered an impairmenl loss. If any such indication exists, the
recov8rable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Intangible assets wilh indefinite useful lives and intangible assets not yet 8vai18ble for use are lest8d for
impaimient annually, and whenev8r there is 8n indication that the asset may be impalred.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposrts held at call with banks. Other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instrumenls are recognis8d in the charitvs balance sheet when the charity becom8s 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 sel 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balanrEs, 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 classrfied 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 2024
Accounting pollcles
Basic flnancial liabllltles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transadion, wh8re 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 amort15ed.
Debt insinjments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for go¢)ds or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they a￿ presented as non-current liabilities. Trade creditors are recognised initially at transaction
price and subsequèntly measured at amortised cost using the effective inter8St method.
Derocognition of flnanclal liabilitles
Financial liabililies are derecognised when the charity's contractU81 obligations èxpir8 or are discharged or
cancelled.
1.10 Employee benefits
The cosl of any unused holiday entitlement is recognlsed In the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably cornmitted
to temiinale the employment of an employee or to provide termination benefits.
1.11 Ratlrement beneflts
Payments to defined conlribulion retirement benefit schemes are charged as an expense as they fall due.
Crftical accounting e•tlmotes and Judgoment8
In the application of the charity's accounting policies, the directors are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
Sour￿$. The estimates and associated assumplions are based on historical experience and other factors that
are considered to be relevant. Actu81 results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
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 revision and future periods where the revision affects both current and future
periods.
Key Sources of estlmatlon uncertalnty
Tanglble flxed assets
Tangible assets are depreciated over their useful lives tsking inlo account residual value5 where appropriate.
The actual lives of the assets are assessed annually and may vary depending on a number of fadors. In
reassessing asset lives factors such as mainlenance programffles are taken into account. Residual value
assessments Gonsider such as the remaining life of the assel and its estimated value in use.
20

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Donations and lègacles
Unrestricted
funds
Total
2024
2023
Donations and gifts
1,714
1,670
Charltable aetivitio•
2024
2023
Income
568,493
483,197
Analysis by fund
Unrestricted funds
Restricted funds
132,590
435,903
568,493
For the year ended 31 March 2023
Unrestricted funds
Restricted funds
93,434
369,763
463,197
Othor incom•
2024
2023
Other income
9,627
7.582
All other income was unrestricted in both p8ri0ds.
21

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable actlvltles
2024
2023
Staff costs
Depreciation and impairment
Cost of activities in furtherance of projèct objectives
Prèmises costs
Staff training
Bank charges
Computer expenses
Office expenses
Audit fee
267,103
31,388
158,103
11,572
9,389
3,298
10.336
70,686
5,100
256,230
31.388
139,582
14,449
1.659
3,365
8,720
47,379
5.100
587,103
507,872
Analy818 by fund
Unreslrict8d fund$
Restricted funds
148,110
420,993
567,103
For the yoar •nd•d 31 March 2023
Unrestricted funds
Restricted funds
138,109
369,783
507,872
Dlrectorn
None of the dlrectors (or any persons connected with them) received any remuneration or beneffts from the
group during the year.
22

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Employeeg
Number ol employees
The av8rag6 monthly number employees, excluding directors, during the year was..
2024
Numbar
2023
Number
10
10
Employment costs
2024
2023
Wages and salaries
Social security Costs
Other penslon costs
227,910
23,247
15,946
208,266
33,308
14,856
267,103
256,230
The remuneration of key management personnel is as follows.
2024
2023
Employee benefits
139,715
141.992
The charity conslders its key management personnel to be the senior management team, which comprises of 4
(2023.. 4) members of staff.
There were no employees (2023.. none) whose annual remunerati'on was £60,000 or more.
23

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
INCOME FROM TRADING ACTIVITIES
Gréater Village Regeneration Trust Limited is the sole member of TRE-ECO Maintenance Seniices
Community Interest Company {company number N1643953). The summary financial performance of
the subsidiary alone is:
2024
2023
Turnover
Administration costs
109,145
104,522
139,103
102616
Operating profitlllos81
4,823
36,487
Investment income
Financ8 costs
Profit before taxation
Tax
3,676
35,540
6,916
Retained In subsidiary
28,624
The assets and liabilities of the subsidiary alone were..
Non-curr8nt assets
Current asset5
Current liabilities
23,609
90,064
17.224
103,375
46,465
Total net assets
76,597
Aggregate share capital and rèserv8S
74,134
24

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Debtors
Group
2024
Company
2024
2023
2023
Amounts falllng due wlthin one
year:
Other debtors
Prepayments and a¢cNed income
Amount Owed to subsidiary
38,974
10,760
43,832
10,196
32,189
10,760
23,406
30,810
10,196
23.406
49,734
54,028
66,335
64,412
13 Loans and overdrafts
Group and Cornpany
2024
2023
Other loans
Payable within one year
Payable after one year
UCIT hold security by way ofan all monies charge and deed ofcovenant charged on the
properties of the charity situated al Donegall Road, Belfast.
14 Creditors: amounts falling duo wSthin one year
Group
2024
Cornpany
2024
2023
2023
Other loans
Other credltors
Accruals and deferred income
12,826
9,616
16,841
9.372
5.058
8,118
2,463
7,872
22,442
26,213
13.174
10,335
15 Credltors: amounts falling due after more
Group and Company
Group
2024
Company
2024
2023
2023
Other loans
Hire purchase
4,402
7.182
27

GREATER VILLAGE REGENERATION TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Restrfcted 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 Resources
Balance at
resources
expended 31 March 2024
Balance at
1 April 2023
Belfast City Council
North8rn Ireland Housing Executive
Department for Communities
Public Health Agency
Lottery Tools for Life
Lott8ry Community Fund
Garfield
65,771
27.610
107.507
69.021
59.070
18.670
25,000
(65.771)
(27,610)
(107,5071
(69.021)
(59,0701
(8,670)
(20,0901
10,000
4,910
F Il.
Community Ownership
Education Authority
SoLrth City Supermarket
PSNI
Community Foundation
Halrfax
Rank
Othér
10,000
6,000
5.705
5,381
2,648
2,200
29,615
(10,0001
(6,0001
{5,705>
{5,381)
{2,648)
(2,200)
(29,615>
1,800
435,903
420.993
14,910
Restricted fvnds represent various projècts funded with specific restrictions as shown previously.
In the event of 8 small shorffall in a restricted fund 8 transfer from unrestrlcted reserves is made to fund the
project to completion.
17 Deslgnated funds
The income funds of the charity include the following designated funds which have been set aside out of
unrestricted funds by the trustees for specific purposes..
Balance
at 1 Aprll
2023
Transfers Resources
expended
Balance at
31 March
2024
Property
1,089,988
1,069,988
(30.024)
(30,024)
1,039,964
1,039,964
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 2024
18 Analysis of net assets between funds
Unrestricted Rostrfcted
2024
2024
Total
2024
Total
2023
Fund balances at 31 March 2024 are
repres8nt8d by..
Tangible assets
Current assetsl{liabilities)
Long te￿n li8biliti8s
1,063,708
183,519
(4,402)
1,063.708
198,429
(4,402)
1,088,711
161,011
(7,182)
14,910
1,242,825
14,910
1,257,735
1,242,540
19 Related party tran8actions
There were no dis¢losable related party transa￿lOn$ during the year (2023 - none).
20 Cash generatsd from operatlons
Group
2024
2023
(Deficit)Isurplus for the year
15,195
(6,800)
Adjustments for:
Depreciation and impairment of tangible fixed assets
38,492
37,486
Movements in working capital:
Decreasel(increase) in debtors
{Decre8$e)fincrease in creditors
4,294
(3,7721
{1,740)
5,607
Cash generated from operation•
54,209
34,553
21 Retlrement benefit schemes
Defined contributlon 8chemes
The Charity operates a defined contribution pension scheme for all quelifying employee5. 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 (2023- £14,447).
22 Subsidiaries
Details of the company's subsidiaries at 31 Marth 2024 a￿ as follows..
Ownershlp
Name of
undertaking
Roglstered
office
Nature of
business
TRE-ECO
Maintenance
Services CIC
As above
Maintenance
Services
Sole member of
cic
29