The Speedwell Trust Liniited
Statement of Finaiicial Activltfies for the Yeai" Elided 31 Mai'cli 2023
ncluding Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Uni'estrlctcd
funds
Resti'ieted
funds
Total
2023
Note
liicoiiie and Enduwments fj'om:
Doiiations alld legacies
Charitable activilLes
Iiiveslinenl ir)eome
Olhci. ineoiiie
10,1 I I
241,701
149
42,601
4,250
149
42,601
237,451
Tolal ￿]Conte
57,111
237,451
294 562
Lxpendlture on:
Cliarilable aciivities
(97.454)
{218,795
(316,249
Total Expcnditure
{97,454
218,795)
316,249
Net {expenditure)lincome
T1'ansf￿'S bettveen ￿ndS
(40.343)
(1,172)
18,656
,172
(21,687)
Net Inoveiment in funds
(41,515)
19.828
(21,687)
Reconciligtion of funds
Tot81 fiu]ds brought fOrw￿.d
124,633
124,633
Total fijnds Carried foiward
16
83,118
19,828
102,946
All of Il)e charity's activities derive fiDm continuing operations durAn8 Ilie above period.
Page 10

The Speedwell Trust Liinited
(Registratioll numbei.: N1682767)
Balance Sheet as at 31 Mai"¢h 2023
2023
Note
Fixed assets
Tangible assets
13
8,690
Ciii'i'enl assets
Dcbtoi's
Casli 21 bank and in l)and
14
15,678
102,829
118,507
Ci'edltors., Aniounts falllng due iyltliln one yeAr
15
24,251
Net eurrent assets
94,256
Net assets
102,946
Fundi of tlie cliai'lty:
Restylcted fundy
19,828
Unrestvicted Income funds
Unrestriclcd funds
Total funds
16
102,946
Tlie financial staleineiits on pages 10 10 20 werc approved by the Irustees, and authorised for issue on 3 l July
2023 and signcd on tlieir bellalf by:
Laura Swaile (Cliaily￿50n)
Trustee
Pagell

The Speedwell Ti'ust Limited
Notes to the Finaiicial Statements for tlie Yeai" Ellded 31 Mydrch 2023
I Chai"lty status
Tlie ¢liarity is a cliarity liniiled by guai?nleg and consequently does llot llave sl)are capital. Eacli of the trustecs
is liable to conli'ibute an amounl not exceeding £Nil towai'ds thc assets of tl)e cllarity ill the eveiil of liquidation.
2 Accouiitiiig policies
SunimAry of sl£nificaiit accountiiig pollcies key aeeounting estlmales
The pi'iii¢ipal accountiiig policies applied in tlie prepai'ation of Iliese financial staternei)ts a￿ get oiit below.
These policies liave been consistetjtly applied to all the years presentcd, unl￿S oiheiwise slated.
SIAtenieiit of conlpllance
Tl)e f￿anCIaL slalcnients have been prepared in accordance with Accounting and Repth'ling by Cllarities:
Statenieiit of RecoiDmeiided Practice applicable lo charities prepai-illg tiieir accouiits in 8¢coI'daiice witl) tlie
Financial RcportinE Standard applicuble iii the UK aiid Republic of Ireland (FRS 102) (effcclive l J8IIU8ry
2015) (Cl)arilies SORP (FRS 102)), tlie Financial Reportii)g Siandai'd applicable in Ilie UIC aiid Republic of
reland (FRS 102) alld the Coinpanies Act 2006.
Basis of pi'epfiratlon
Tlie Speedwell Twst Liiiiiied Iheels tlie definitioi) of a public bei)¢fit en¢ity under FRS 102. Assets aiid liabilities
are initially recognised al histori¢al cost or transaction value unless o¢henYisc slated in tiic i'¢levant accountlllB
policy iioles.
Goliig coiieeni
Tiie ti'uste¢s con$ider Iliai there al'e iio matei'ial uncertainlies aboul tlie cliui'ity's ability to conliniie as a 8OILig
concern nor any significant areas of uncertainty tl)Rt affcct Ihe carying value of assets licld by tlie cliai'ity.
E%eIttptlDn from prcparliig A ells11 flow statenieiit
Tlie charity opted lo e81.ly adopt Bulletin I publislicd oll 2 Febii]ary 2016 and liav¢ thei'efoiE not included a cash
flow stat¢ni¢i)l in Iliese financial statements.
Inenme and endowiiients
All iiicoiiie 15 Ircognised oiice tlie cliarity lias entitlemellt to tbe iiiconie, At is probable diat the income will be
eceived and Ihe amount of the ii)¢ome i'eccivable can be ineasured reliably.
Donftfloiis aiid lÉgo£les
Donations arc ircognised when the chaiily has been notified in writing of both die amount and settl¢nient date.
In Ilie event that a donalioji is subject to conditions tliat require a level of perfonnance by the cl￿rity befoi-e the
cliai'ity is eiititled lo thc thnds, the incoine is deferkrd and iiot recognised ulltil eithej. those conditions are ￿llY
illet, th tlie fulfiliiienl of th(kse coiiditions is wliolly withitl the conirol of the charity and it is probable tliat tliese
¢ondilions will be fulfilled in the reporllng period.
Page 12

Tlie Speedwell Trust Limited
Notes to the Fiiiallcial Statements for the Year Elided 31 M21'ch 2023
Defej'i'eil iiicojiie
Defei'i-ed inconie i'epi'esents amoiints received for futtllf perAods and is released to ineoniing resources in the
period foi. whicli, it ilas been received. Suckn income is only defay¢d when:
The donor specifies tlial tbe granl or donalion must only be used in futuiy accowiiing peiiods. o
Tlie donor hds illiposed conditioiis which musl be iiiet before the cl)arity has unconditional entitleii)eiit.
liivestiiieiif liiconie
Dividends are recognised once the dividend has becn de¢l￿d and notification has been received of tlie divid¢nd
dLI¢.
Expeiidltui'e
All expenditui'e 18 I'ecogniscd once thcic is a legal ui. constnjctive obligation lo that cxpeiidituie, il is probable
seltleinenl is requii'ed ai)d th¢ amount Can be ineasured reliably. All Costs allocated lo Ilie applieable
expeiidibjir l)eading Iliat aggi'egale siiiiilai. costs to that category. Wlieir costs caill)ot be dii'ectly ath'ibuled to
pai'licular heading.4 they have beei) allocated on a basis consistent witli the use of i'esoui'ces, witli cenli'al staff
costs allocated on the basi5 of lime spei)t, aiid depreciation cl]arges allocated on tlie portion of the asset's Use.
Other support costs are allocated based on tlie spread of staff costs.
Cliaylldble nctlvllies
Cliaritable expenditure comprises those costs incurred by tjie chirity in the delivci'y of its aclivities and services
for ils beiieficiaries. It includes botli costs that can be allocated dirwtly to such activities aiid tliose costs of an
indirect iiature necessary lo suppoi'l ththn.
Suppovt costs
Support ¢o$ls include central functions and Iiave been allocated io activity cost eategoi'ies on a basis coiisisteijt
with tlie use of i'esources, for exainple. allocating property eosts by floor areas, or per capita, staff costs by Ilie
tiiiie spent and otlier costs by their usage.
Govei'iiaiice costs
Tliese incliide the Costs attributable to Ilie cl)￿.1tY's conipliance with constithtional and 5talutoiy I'equii'cnienls,
iiicluding audit, sli'ategic man8gcl￿enÉ and tru51ees's meetings and iriiiibiirscd expenses.
T&xatlon
The chai'ity is considered to pass tl)e l¢sls scl out in Paragraph I Schedule 6 of thg Finance Act 2010 and
Ihcrefoi'e it meets the definition of a charitable company for UK coii)oraLion tax piityoses. Accoi'dingly. tlie
charity is poteiitially exempt froni taxation in respect of I￿cO]ne oi. capital gaiiis rcceived within categoi'i
COVCLcd by Chaptei. 3 Part I l of the CorpoJTtion Tax Act 2010 or Section 256 of tlie Taxation of Cliargcable
Gains Act 1992, to tli¢ extent that such incoiiie or gains al'e opplied excI￿81Ve1Y lo Ch￿￿table purposes.
Tallglble r￿ed assets
T￿]gible fixed assets are initially measured at cos¢ and subsequetLily measured at cost, net of depreciation and
any iinpairnient losses. Tlie cl)&rity bas a fixed asset capilalisation Ihresliold of £500.
DeprulAtloii and amoi'tlsation
Depi'ccialion is providcd on laE]gible fixed asscls so as lo write off tlie cost or valuation, less any estimated
i'esidual value, ovei. their expected usefiil ccoiiomic life as follows:
Page 13

The Speedwell Trust Limited
Notes to the Finalleial Statemeuts for the Yeai. Elided 31 MArch 2023
Asset class
Leasehold Land at]d Building8
Fixlui'es & f4ittings
Depi'eciation metliod aild l'ate
4 /• Siraight Line
200/th SIi7iElit Line
Ti'adL debtor
Trade debioi's al'e aniounts due frojn customers foi. Incrchandise sold or setvices perfonjied in the oilitldly
cow'se of business.
Trade debtoi's Ri'e recogllised initially At the transaction price. Tliey 8re subsequeiitly rneasured al amoitised ¢ost
using the effective inlei'est nietliod, less piovision for impaunienl. A provisioii for the iiiip8iimieiit of li'ade
debtors is eslablislied wliei) tllere is objeclive evidence that the charity will not be able to collect all amounts due
acco¥ding lo Ilie origiiial terms of tbe receivables.
Cash And cash equlvAlents
Ca511 and casli equivalents comprise casli on lland and call deposi18, aiid otli¢i' sknor14enn liiglily liqiiid
inveslnienLs tliat al'e readily coniiei'lible to a known ainouDt of ¢asli and are subject lo an insigiiificant i'isk of
el)ange in value.
Ti'ado ci'edltoi'&
Ti'8de ci'editoi's al'e obligatioiis to pay for goods or services IhAt h8vc been acquired in the ordinary coiirse of
business froni suppliei's. Accounts payable al'e classified as ¢urrciit liabilities if thc chai'ily does not have an
unconditional i'ighi, al the end of tlie i'¢POLling period, to defei. seltleincnt of the citditor for al least twelve
mont]is aftei. the reporting dale. If tllei'e is 8n unconditional i'iglit to defei. seltleinenl foi. at leasi twelve nionths
after the i'epoi'ling dale, they al'e presented as iion-ellrieni liabiliti&s.
Ti'ade cieditors are I'ecognised initially al Ihe transaction pricc and siibsequenily Ineasui'ed al aiiioi'¢ised cost
iisiiig Ilie ¢ffc¢live inleresl melliod.
Boi'roiylngs
Ii)lei'e.81-bearing borrowings are initially i'ecorded at fair value, net of transaction costs. Jnlei'est-be&ring
boiTowiiigs are siibseqiiently can'ied at unioriised cosl willi Ihe diffeirnctt belweeii Ilie proceeds, nel of
li'ai)saction cosl.s, and tlie aiiioiillt due on redeini)tioii being recogniscd as a charge Lo tlie Staleiiienl of Fiiiai)cial
Activities ovei. tlie period of die rclcvant borrowing.
Inlei'cst expense is iecognised on the basis of the cffcctive interest mclhod and is incliided in interest payable
and similar ¢I￿1.8¢s.
BoiTowings al'e classified as current liabilitics unless the chaiily has ali unconditioiial light to defei seltleiiient of
the liabilkty foi. at least twelve month8 after the irporting date.
Fund stYuctUL'e
Unrestricted incorne funds aty genernl liinds that are available for use at Ilie tIuSt￿￿'S discittion in thrtlierunce
of the objectives of Ihc cliarity.
Designated thnds are utll'estricted funds sel aside foi. specific purposes ai the discretion of11)e Iruslees,
Restricted incoine thnds al'e those donated for us¢ in a pailicular area oi. for specific purposes. the use of which
is Lestrictcd to tlial ￿ea or purpose.
Page 14

Tlie Speedwell Trust LimRted
Notes to the Fiiiaiiclal Statements foi. the Yeai. Ended 31 March 2023
Financial iiistruments
Classificutinii
Financial assets and fLnancial liabilitics are recognised when thc charity becoiiics a party to Ilie contractt￿l
pi'ovisions of11)e insts'ument.
Financial liabilities and equity instNmeDts are elassified accoirftng to die siibsl8ncc of tl)e coThts'actual
ai'i'angements entei'ed into. Arn cqiiity instrunicnt is any Lontract that evidcnces a residual interest in Ilic asseis of
the chai'ity after dediicting 811 of its liabilities,
Recogiiilioii aiid iiieusiii'éiiiÉiil
All fiiiancial asscls and liabilities aTe initially Ineasured at tt2nsaction price (including transaction costs), except
fur Il)ose financial as.qets classified as ai fair va5ue Illlx)iigh profit or loss. wliicli ale initially ine8su1.ed at fair
VAILIC (wliicli is noi'nially tlie trnnsaction price exeluding transaction costs), unless tlie an'angenient constitutes a
finanLing transaLtion. If an anangeineni eonslittiles a financing transaction. Ilie financial asset or financial
liability 18 measiiird at thc pi'esent valu¢ of tlie future paynlents discounted ai a Ma￿et imle of inl¢i'est foi. a
siniilai- debt insttiinienl.
Fi118iicial assets and liabilities are only offset in the ststement of finaiiciAI position when, and Only wheii Iliere
exists a legally enforceable rigl)t to sel off the recognised amounts 3nd the charity intettds either to settle oil a
net basis, or to i'ealise tlie asset and settle the liAbilily siniultaneously.
Financial &s5eL% ￿.# d¢reCo￿lIs¢d when and only when a) the contractual riglils to di¢ ¢Asli flows froiii tlie
financial asset expire or are setllel b) tlle cliarity transfe￿ lo anothei. p81.ty substantially 811 of tlie i'isks and
i'ewayds of owrtersliip of Il)e finAncial asset. or ¢) tlie cliarity, despite l)avii)g i'elained sonie, but iiol all,
signifLcant i'isks aiid rewards of ownersliip) 1rallsfe￿ed control of tlie asset lo anoilier pai'ty.
Financial liabilities are derecognised only when the obligaiion specified in the coiitrllct is discliarged, cancelled
or expires.
Ilivesliiieiil
Investments in non-converlible preference sliares and non-pultable ordinary oi. pi'efereiice sbai'es (whei'e sliai'es
are publicly ti'aded oi. Ilieir fail. valiie 15 reliably iiieasiii'ablc) are nieasui'ed at ftlir valiie Ilii'ough i)IDfit oi. loss.
Wliere faiL' value cannol be measur¢d reliably, uivesuneiits are Liieasured 31 cost less iiiipaii'nienl.
Iiiveslinents in subsidi￿.LeS and associales In¢asured at cosl less ii)IpairLncnl. For inveslnienls in 8ubsidiai.ies
acquii'ed for considcration including the issue of sl)ares qualifying foi. iiiei'gei. relief, cost 1.8 Ineasui'ed by
i'efcirnce lo tlie noininal value of the sbairs issiied plus fair valu¢ of oLlier Co1￿lde1.￿tl0rt, Ally preniium is
ignoi'ed.
Fiii). valiie imeftsureiiieiil
Tlie best evidence of fair value is a quoted price for an identical asset in an 8Ctive market. Wlien qU0￿d pi'ices
are utiavailable, the price of a recent li'ansaction for an identical asset provides evidence of fair vJlue as long as
Iliere has not been a significant cbange in econoinic circuins(ances or a significant lapse of tirti¢ su)ce tlie
transaelion took place. If the market is not aclTve and recent ts'&Dsactions of an ideiilical asset on Il)eir own al'e
not a good eslitmale of fair value, tlie fair valuc is estiEllatcd by usiiig a valuation kclinique.
Page 15

The Speedwell Ti'ust Limited
Notes to the Fillancial Statements foi. the Yeai. Ended 31 MarLh 2023
3 Income froni d(bnations amd legacles
Unrestricted
runds
Total
2023
General
Donations and legacies.
Doualions from individuals
10,&ii
io,iii
io,iii
4 Income fi'lhm chai'itable activities
Uni'estricted
funds
Resti'icted
funds
I'ot#l
2023
General
Comniunity Relatioiis Educalioii
4,250
237 451
241701
S Inve5tnient lJicoJne
Unreyti'lcted
ruiids
Total
2023
GenerAI
Inteirsl receivable and siniilar income.
Intei'est ￿CeIVable on bai]k dcposils
149
149
6 Othei. liiconie
Total
2023
Page 16

The Speedwell Trust Limited
Notes to the FiuanciaI Statemeiits for the Year Elided 31 March 2023
7 ExpenLlitui'e on cli#i'itable 9etivities
Unrestrlcted
funds
Resti'icted
fuiids
Total
2023
Gejieval
Note
Comniiiiiity Relations Edu￿tiOn
Staff cosls
Allocated SLlPPOrt costs
Goven)ance costs
33,789
52,177
9,468
2,020
28,604
188.433
1,75S
62,393
240,610
11,226
2,020
316,249
97,454
218,795
8 AiiAly$ls of govei'nance lli)d support costs
Govei'ii&iice costs
Unrestt'lcted
funds
TotAI
21123
Genei'91
Independent ex8mineL fees
EX￿1)Ination of the [￿ancIal $18tements
2,020
2,020
2,020
9 Ti'ustees i'eniunei'atioii alld expeiise5
No trustees, nor any persons connected with th￿ll, bave received ally remuneratioii froiii the cliai'ity dw-iiig the
year.
10 Staff costs
Tli¢ aggi'eg8te payroll costs werc as follows:
2023
Staff costs dui'ing the yoar were:
Wages and salaiies
Social security costs
Pension costs
Olhei. siaff costs
202,125
19,944
9,953
8,588
240,610
Page 17

The Speedwell Ti"ust Limited
Notes to the Fillaiicial Statements for the YeaR' Ended 31 March 2023
Tlie moiiilily average niimber of pci'sons (includiDg senior Managen￿nt teain} Ciiiployed by Ilie cl)arity durii
tlie yeai. exyi-&ssed as full timc CqLEivalents was as follows:
2023
Employee Nunibers
No employee rcLeived emoliinicnts of more t1￿17 £60.IKIO durinE the year.
11 Indepeiident exAnilner's remun¢rAtlon
2023
Exaniination of Ilie financial staleinents
2,020
Page 18

The Speedwell Ti'ust Limited
Notes to the Finallcial Statemeiits fol. the Year Elided 31 March 2023
12 Taxation
Tlie cliarily is a L'egislered cbarity and is tliereforc exeJ)Jpt fiY)in taxalioii.
l.l Tajigible flxed assets
Laiid aiid
buildings
r¢ui'iiSture and
equlpmenl
Total
Cost
At l Api'il 2022
Additions
87,217
66.573
5,209
153,790
5,209
At 31 Mat'ch 2023
87,217
71,782
158,999
DepreciRti4)11
At I April 2022
Cliai'ge foi. the yeai.
87,217
59,088
4,004
146,305
4,004
At 3 L Mai-¢lJ 2023
87,217
63,092
150,309
Net bo()Ii value
At 31 Mai'cli 2023
8,690
8,690
At
7,485
7,485
14 Debtoi's
2023
Ti'ade debtors
PrepaY1￿￿n1S
Acciiied income
12,301
2,752
625
15,678
15 Ci'edltoi's: ainounts fallliig due wltliill one year
2023
Trade creditots
Othel ci'editots
Acciuals
Deferi'ed income
1,649
7,096
2,506
13,000
24,251
Page 19

The Speedwell Trust Limited
Notes to the Financial Stateinents for the Year Elided 31 MAI'ch 2023
16 Fund8
Balance at
31 March
2023
Balaiiee At I
Api'il 2022
Ineoiiiing
esourees
Resources
expended
Ti'Ansfei's
Uni'e$ti'icted fundi
Gcnei'al
(63,847)
{57.111)
97,454
1,172
(22,332)
60,786
Designated
Tot81 unresti'lcted fullds
60,786
(124,633)
{57.111)
(237,451)
97,454
1,172
(83,118)
Resli'ictL'd funds
218,795
(1,172
(19,828
Total I'und5
124,633
(294,562
3 5 6,249
102,946
17 Analysls of net assets betivccn funds
Unresti'ieted
fund5
Rcsti'itted
funils
Gciieral
Total funds
Tangible fixed assets
Cu￿ent asscls
Current liabilities
8,690
98,678
24,251
8,690
118,507
24,251
19,829
Yolal rAel assets
83,117
19,829
102,946
18 Analysls of net fuiids
At 31 Marcli
2023
At l Api'il 2022
C2sh flow
C88h at bank and in I￿nd
102,829
102,829
Net debt
102,829
102,829
Page 20