Company recristration number.. N1682767
Charity registration number: 108645
The Speedwell Trust Limited
(A company limited by guarantee)
Annua] Report ond Financial Statements
for the Year Ended 31 March 2024
Baxterworld Ltd
Unit 3 Dar(ran Industsial Park
60-84 DaTgatJ Crescent
Belfast
BT3 9JP

The Speedwell Trust Limited
Contents
Reference and Adtninisttative Details
Trustees, Report
2to7
Statement of Trustees, Responsibilities
Independent Examiner's Report
Statement of Financial Activities
kotoll
Balance Sheet
12
Notes to the Financi￿ Statements
13to22

The Speedwell Trust Limited
Reference and Administratrve Details
Trustees
Laui? Swaile {Ch2irperson)
Francis McVeiJts
Erie Rainey
Terence Heron (Treasurer)
Louise Qutnn {appointed 17 November 202))
Neil Downing {Resigned L September 2023)
Robert Cofvin {ResI￿ed I September 2023)
Secretary
Stephen Crabbe
Prillcipal Office
Parkanaur Forest PaTk
57a Parkan&ur Road
Castlecaulfield
Co. Tyrone
BT70 3AA
Company Registratiou Number
N1682767
Charity Registration Number
108645
Solieitors
lo1￿ Hoy. Son ￿.￿￿￿hY
DX41?ON
Dunganno
BaxterwoTld Ltd
Unit J Dargan Industriat Park
60-84 Dargan Crescent
Belfast
BT3 9JP
Independent Lxaminer
Page I

The Speedwell Trust Limited
Trustees, Report
The trustees, who are directors foT the purposes of company law. presellt the ajmual report together witli the
fLnancial statemeJ]ts of the charitable company for the year ended 31 ￿ch 2024.
Objeetives and actisryties
Objects ond ain
The Speedwell Trust is a registered charity and company Limited by Guarantee. It is our ambition to ci.eate a
better world for children and young people by using a nature-b&sed appr()ach to remove barriers through oui
prO￿ammeS and by equipping children and youn(y
people and their families with the skills needed to overcome
adve13ity, be resilient aud be able to deal with the Challenges life can bring and respond as caretakers of
themselves, each other and the world around them.
We have three key areas of focus whidi are:
Shared Education- helping break down baLTiers and create a more inclusive society and to equip children 2nd
yoiing people with the skills and knowledge to bring about tK)sitive and lasting change.
Eco-Education - ediicating children atkd young people about the natural world and equippinD them with the
sktlls and understanding in how they ean play a role in safeguarding the world around them.
Wellbeing- using the fottst. we take a nature-b&sed approach to deliver w(x)dland wellbeino
pi'ogrdmmes to
help childreTh atld young people understand how to look after their physical and mental health arld wellbeing.
Public benefit
The benefits that flow directly from the purpose are: (ia) the advancement of buman rights, reconciliation and
the promotion of religious and raci81 harmorjy and equality and divei'sity th￿OUgh the delivery of pro￿￿tt￿neS
that encoLLrage positive behaviour. tolerdnce and mutual r£spect towards one another leadino to a better shared
ture for all in society (ib) the advaneement of education and environmental protection via the development of
young people as contributors to the economy and the environment thmugh edu¢ation for suslaillable
development leading to employmenl reduction in poverty, unemployment and an overall better quality of life
(li) tbe adv8nccment of citizenship and community development as a result of our lono standing relationship
with schools, wlio are the gateway to the wider community developing links with p8Jents, families, extended
families, teachers, friends, local groups, volunteers etc {iii) strengthening and supporting Simil￿ groups to
fiirther advance respect These benefits can be evidenced by records kept in the numbers of children participating
in workshops and programmes on a daily basis, evaluations completed by teachers on programme content and
relevance, comments on our webpage, intemai assessment of programme contenL extertLa] SEllveys, photo and
video evidenee, annual reporting to fjjnders and supporters and also external audits. The possibility of hami. for
example physical injury incLLrred in the 'outdoor envirotunent, is outwel￿ed by the benefit of exercise, fresh air
and leaming 'outside the classroom, by the policies and procedures in place to address such risks e.
child
protection policies, health and safety policies, forest pmgrdmtne risk 2ssessmerhts. wup safety at water margins
policy etc. The eharities beneficiaries are children. young people, parents and wider Community in Northern
Ireland and border counties i.e. Monaghan & Donegal. Specific projects Lnay address particular counctl areas
such as the Mid Ulster district and those aforementioned in the application. No private benefit is obtatned by the
Trustees as a Tesult of the purposes.
The trustees confirni that they have takeT] co<ynisance of the Cliarity Commission for Northern Ji'eland's IFuid2nce
on public benefit as defmed the Charities Act (Northern Ireland) 2008.

The Speedwell Trust Limited
Trustees, Report
Activities 2nd Projects Report
During the reporting period we worked with almost 5500 children throuoh the deliveiy of 141 programmes itl
Parkanaur and in schools.
Shared Educ2tiotL
The majority of our shared education work this ye2r was delivered through facilitation of protyrammes with local
scboo15. A totsl of170/0 of our entire programme delivery, for the year. was in relation to Shared Education. The
i"eason for the reduction from the previous year wds due to cuts in School sh￿'ed Educatiotl Budgets.
A tELird of our Shared Education workshops were ￿nded through the Department of Foreign Affairs
Rcconciliation Fund,. This involved working with pairs of schools who came together on the Speedwell site at
Parkanaur and in their own schools. to work through a range of progrdmmes desI￿ed to support greatei.
community cohesion, relationship building and understanding.
Woodland Wellbein¢
Funding from the Wesleyan Foundation enabled us to offer ihe Woodland Wellbeing progl'ammc to 20 Schools
delivering to approximately 600 local children. A total of 13 % of all progratnmes delivei-ed in the reporting
period were for Woodland WellbeinLY. The focus of this progratnme is to utilise the benefits of nature and being
outdoors to support better physical and menthl health 2nd wellbeing for Children.
The response to thÈs proJts amme h&s been phenomenal. The Woodland Wellbeing programme has been
beneficial on so many levels. It allowed young children to spend time outdoors to connect with na￿re. to lea
about the bencfits of nature OD their physical and mental health and wellbeing to spend time connecting with and
playing with their peer groups where they were able to new skdls, develop a bettei undcrstanding of the
world around them and most importantly to feel safe and have fun again.
Seasonal Pro(vr2mmes
In the Slimmer wt welcomed 160 ehildren to the Summer Scheme. In total we held 4 weeks of Summ
Scheme. This protsramme had a strong eco 2nd wellbein(r theme. Et was packed full of inimersive actLVlties and
outdoor adventures. Frotn nattlre walks to pond dipping, our eng￿L¥l￿g program encouraged children to discover
the wonders of the natural world.
T￿OUgh interactive workshops and games, children leornt about water. wildlife conservation. minibeasts and
sustainable living. The overarching aitn of the summer scheme was to provide a supportive ￿]d inclusive
environjnent where children could mak-e new friends and create lasting summer n]emories.
We also offered Halloween and Wintcr Wonderland prograttLmes in the reporting period.
National Lottery Platinum Jubilee Fund - N'aturt Nurture
During the reporting period and in collaboration with Castlecauified HortIcuitur￿ Society and AJ Education we
delivered the second year of the Nattire Nurture project funded through the National Lottery Platinum Jubilee
FurLd to 165 ¢hildTen. The project focused on bringing children together to help develop their understanding.
skills. and pLssion for nature and cultivaiing alld growing plants, alld learning how this can add value to their
owrl quality of lives, whilst also contributing to a better environment.
Page 3

The Speediyell Trust Limited
Trnstees, Report
An additional aim of the project iv&s to develop a eommunity "Jubilee Garden" at the SpeedweEI Trust premises,
and to train 6-10 volunteers in hortiGvlture skills, with the aim of having & long-term group of people willing to
support tELe onooino development and maintenance of the .wden and to educate otheT5 in the comniunity and
potentially as future tnembeTS of the Horticultural Society. The Jubilee Garden is now complete alld what was
once an uDused space has been transfonned into a garden that is a fun. attractive space which can be enjoyed by
children (of all abilities) and their families. It is now a oarden that tells its owi story - plants have been gpecially
selected to 2ttr&ct a rich rarL<re of pollinators, 2 bird feed?ng station has been erected close to our btrd ELide where
children can observe and identify tlle visiting species. Our pond has been made safer and abounds with new
w&ter platlts that have created a Kn&5sive incre&se in the biodiversity living in and around the pond. The
t'enovation of the garden was undertaken by Aiyn Jones of AJ Education who had a ILiStoiy, expeitise and
in-depth knowledge of developing bio-diverse and accessible gardens. We recruited g volunteers (parents and
children) who supported Atyn with the garden Iran5formation. Throughout the joumey the vol￿nteerS have been
able to work with and leam from Alyn to develop their gardening and knorticulture skills. Alyn and his colleague
Andy (a fellow enwronmental educator) supported. coached and dekeloped the tsardenintt volunteers ensuring
tliat they are now able to caTe for and maintain the aardens while (sre&tlJ developinq tl)eir gardenintr knowledge.
A rich foundation h&$ beetL left foT our volurLteers to develop their sk-ills in the maintsnance of the garden.
The feedbaek from the children and theii" families I￿S been ovenvFLelmingly positive.
Child Feedback:
Before the project 250/0 of the children thought they bad a rrood knowledge of Nature and the Envirotunent. This
had risen to 75010 Post project.
At the beginnino if Lhe project the children were asked if they undet5tood the itnportance of protectin(r our
ecosystems. Pre project 43Q/o of the children understood the importance of protectin(y our ecosystems. This had
iisen to 82 % post project.
They were also asked 'how much did they know about planting and growing,. The results were 410/0 said they
knew lots about planting and growing pre-project. Post Project this fitsure had risen tt) 90010.
85 % of children said that they would deflllitely recottllnend this project to other chsldren.
Parental feedb2ek:
'I was honestly blown away by this prooramme and would highly recomrnend it. My kids loved it and it's
exactly the kind of tbincr we necd more of for our kids :}'
'Aoibhe had a fant&stic time at Parkanaur with the Speedwell teaml She learned lots aknut animals and their
lio￿t5 in the forest and lots of practical activities with planting and growing. A very generou5 bundle of
gardenkng tools were provided and will be put to good use at home. She Is very excited to get out into the
garden. '.} Couldn't recommend it enough!.
'My ktds really enjoyed this workshop. The). learnt a lot of practical knowledge about llature and glowing
vegetables and can't wait co usc their gardcning tools and growing pack at home with mum and dad! It's also
great to get them outdoors, tna](ing new fiiends away from TV and video gatnes! Thank you, Speedwell Te
for all the hard work! -)'
Northern Irel2nd Environment Agenty- Water Quality Improvemeut Fund
The Speedwell TrusL in partnership with thc Nortbern Ireland Enwontnent Agency (NtEA) through the Water
Qu￿lty Improvement Fund. successfull} implemented and delivered the River Torrent Project. This initiative.
designed to enhance environmental aw'areness and comtnunity engLoemenL brouJo It tooether local schools,
commwiity ￿0Up5, and volunteers xn an effort to improve the health alld vitslity of the River Torrent and its
suri'ounding ecosystem.
Page 4

The Speedwell Trust Limited
Trustees, Report
During the reporting peri(Kl The Speedwell Tn￿ designeQ developed and delivered 40 education days
(approximately 304/0 of our PiDgrammes delivered during the reporting period) to 10 locat schools in close
proxiEnity to the RiN'er Torrent. Children, teachers and staff tlK)k part in w'otkshops aimed at emphasi7.ing the
significance of rnaintaÉning and enhancino water quality. alongside practical actions they can undeitake to
support conservation efforts.
Additionally, education days were held at the Speedwell Centre in Parkanaur Forest Park where participants
delved into topics such as survey works, invasive species idencifieation. water quality monitoring techniques,
pollution control measures, and indicator species trainirlg.
The River Torrent Project has been instrumental in fostering a sense of environEnents] responsibility and
Conllnuntty involvement. By engaging local sch(M)Is. community groups, and volunteers, we have not only
raised awareness about the importance of Preserving our natural resources but have also taken tatigible steps
towards tmproving the health of the River T0￿ent and its ecosystem.
Page 5

The Speedwell Trllst Limited
Trustees, Report
Nature Rangers- D'oyley Carte, Sollter Trust and 29th Mgy 1961 Cbaritsble Trust
Having secured funding from a number of sources. we were able to offer the Nature Rangers piograttllne to
local children, via their schools for free. A total of 16Q/o of all proorammes delivered in the reporting per(od were
for Nature Rangets. We know frotn experience and listening to young clLildren that "climate anxiety" is 8
concern for them. They descTibe feeliDo powcrless to know what to do, to positively impact the environment.
The focus of this programme is to equip children with the skills, knowled(*e and experience to delivei positive
tnp&ct on the environment at school which they can then replicate at home and in their community. As Natui'e
Rangers, these children cau feel empowered to act and to share their leatning in and out of school and be the
futhre cbatnpions arLd custodians of the environment.
The response to thL5 progratnme been phenomenal and has benefitted from funding from the D'oyley Carte
Trust. Souter Tn￿t and the 29th May 1961 CbarÈtable Trust. Linking to our priority areas of the
"self-envir0n￿ent" and the "external environment" the Nature Rangers project aims to help ehildren develop
sLills and experiences which will support thetn throuJtr ]out their live5, but a150 contribute to positive climate
action.
Thxnk you
We are immensely gratefi￿ to" all our funders, partners. participating schoo15, parents and childrcn atld
volunteers. We are also grateful to the staff who worked diligently to deliver our projects and services.
Fundels in tELiS period illclude=
. NationaI Lottery Cornmunity Futld - Platinum Jubilee Fund
• National Lottery Community Fund ~ LivinE Spaces and Places
. Dept for Communities - Start HeTe ￿nd
. Department of Foreign Affairs
. Northcm Ireland Environment Atrency - Water Quality Improvement Fund
. Dormant Account5
. TELe 29Èh May 1961 Charitable Trust
. TELe D'oyley Carte Trust
. The Souter Trust
. The Wesleyan Foundation
Dllrinu the year we appointed".
Maiyam Adam - Pi'ogrammes Assislant (joined Ortober 202J)
Eoin TTe&nor- Income Generntion Manager & CollununicationslEtLgagement Lead (J'oined October 2023)
They joined existing staff:
Stephen Crabbe - Trust Manager
Jodie Jackson - Programmes Coordinator
Durinu the year we bade farewell to:
Fiona B Town - Cbicf Executive {left June 20?3)
Padraig Quinn - Pro￿8Mme$ Assistant (left August 202J)
Page 6

The Speedwell Trust Limited
Trustees, Report
Structure? governance and management
PoliLy on rgserves
The charity's policy is to retain a level of unrestricted reserves, which matches the needs of theTrust both at the
current time and in the foreseeable futurG and which is sufficient to cover any shortfalls in funding. At 31
March 24 the charity's uniestricted funds weie £60.193, which weie all de5ionated ￿nds. There are no free
reserves at 31 March 2024.
Finaneial instruments
Objgdivgs llndpolicies
The charity's activities expose it to a number of financial risks incliiding credit risk, cash flow risk and liquidity
risk. The use of financlal derivatives is ooverned by the charity's policies approved by the board of trustees.
wILich provide written principles on the use of finaJ)cial derivatives to manage these risks. The charity does not
use derivative financial instruments for speculative Purposes.
Co&hflow risk
The ¢harsty's activities expose it pritnarily to the fjnancial risks of Ghanges foreÈgn currency exchange rates
and tnterest rates. The charity uses foreign exchantre forward contrncts and interest rate swap contracts to hedge
these exposui'es.
JJ)tei'est bearing assets and liabilkties are held at fixed rate to ensure ccrtainty of cash flows.
Credit risk
The charkty's principal financial assets are bank balances and casb, tradc arLd other rcceivables, and investments.
The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in tbe balance
sheet are rlet of allowances for doubtful receivables. An allowance foi. impairment is made where there is an
identified loss event whicfy based on previous experlence, is evidence of a reduction in the recoverability of the
cash flows.
The credit risk on liquid funds and derivatlve fmanciaj instnjments is limited because the counterparties are
banks with high credit-ratings &%signed by international ¢redit-rating agencies.
The ch￿lty has no significant concentration ot" credit risk. with exposure spread over a large number of
countery)arties and customers.
Liquidity risk
In order to maintatn liquidÈty to ensure that sufficient fjJnds are available for ollgoing operations and future
developments. the charity uses a mixtur¢ of long-terni and short-terni debt fillance.
Further detai15 reoardjnu liquidity risk can be found in the StaLement of accountin<F policie5 in the financial
statements.
281612
The annual report was approved by the trustees of the charity on ....
d signed on its behalf by..
Laura Swaile (Chairperson)
Trustee
Page 7

Tbe SpeedMTell Trust Limited
Statement of Trustees, Responsibilities
The trustces (who at'e also the directors of The Speedwell Trust Limited for the purposes of company law) are
i"esponsible for prepating the trustees, report and the fLDancial statements in accordance with the United
Kingdom Accounting Stand8Jds (United Kingdom Generally Accepied Accounting Prnctice) and applicable law
and reaulations.
Company law requires the kn￿stee5 to piepare fu)ancial statements for each financial year. Utlder company law
the knistees must not appi￿Ve the finatLcial statetnents unless they are satisfied that they give a ts'ue fair view
of the state of affairs of the eharitable company and of its incoming resotLrces and application of resollrces,
including its income and expendAture, for that period. In preparing these finat]cial Statements, the trustees are
required to..
select suitsble accountino pol?cies and apply them consistently.
observe the methods and principles in the Charities SORP-
make jud.
oements and estimates that are reasonable and prudent"
state whetlier applicable UK Accounting Standards have been followe(L subject to any material depar￿r¢S
disclosed and explained in the financial statements" and
prepare the financial statements on the going concern b&sis unless it is inappropriate to presume tbat the
charitable company will colltinue in business.
The tn￿tteS are responsible for keepkng adequate accounting records that are sufficient to show and explain the
charitable cornpany's transactions and disclose wÈth re&sonable accuracy at any time the financial position of the
charitable company and enable them to ensure that thc financial statements comply with tkne Companics Act
2006. They aTe also responsible for safeouardints
the assets of the chtiritable comparLy and hence for taking
reasonable Steps for the prevention and detection of fraud and other itTegularities.
21q¥
Approved by the trustees of the charity on
. and signed on its behalf by:
Laura Swaile (Chairperson)
TTUStee

The Speedwell Trust Limited
Independent Examiner's Report to the trustees of The Speedwell Trust Lin]Ated
T report on the accounts of the charity for the year ended 31 March 2024 which are set out on pages 10 to 22 .
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) ai¢ Tcsponsible for the
preparation of the accounts. The trustees consider tliat an audit Is not required for this year undei. section 65{2)
of the Cklarities Act (Nonhem Ireland) ?008 {tlie 2008 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to alldit undei compally law and is eligible for independent
examination, it is my responsibility to-
examine the accounts undeT section 65 of the 2008 Act;
to follow the procedures laid down tn th¢ geDeTal Directions given by the Charity Commission under section
65{9)(b) of the 2008 Act. and
to state whether particular matters have come to my attention.
Basts of independent eiAminer's report
My eX￿nIt￿tIon was carried out in accoTdance with the general Direction5 given by the Charity Commission.
examination includes a review of the accounting records kept by the charity and a comparison of tbe
aecounts presented with those records. It aIso includes consideration of any unusual items or disclosllres in tlie
accounts, and seeking explanations frorn you as tNstees conceming any such matters. The procedures
undertaken do not provide all the evidence that would be required in an aLLdit and consequently no opinion is
given as to whether the accounts present a 'tTue and fair view. and the report is limifrd to tliose nlatters sct out
in the statement below.
Independent ex2miner'3 Statement
In contlection with my examination. no matter has come to my attentiotl:
(l) which tsives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 386 of the Companies Act 2006" and
to prepare accounts which accord with the accountints records, comply with the accounting requirements
of section 396 of the Companies Act 2006 and wtth the methods and principles of the Stateiment of
Recomtnended Practice: Accounting and Reporting by Charities
have not been me¢ or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts
to be reached.
Catherine McRory
Chartered Institut
L4 CGh(4
f Management Aceountants
Unit 3 Dargatt Indusknial Park
60-84 Dargan Crescent
Belfast
BT3 9JP
2810612024
Page 9

The Speedwell Trust Limited
StateTllent of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
alld Losses)
Unrestricted
funds
Restricted
funds
Totsl
2024
Note
Income and Endowments from:
Donations and leoacies
Charitable activities
Investrnent income
Other income
996
152.390
552
36.563
152,390
552
36.563
Total Income
38,111
152,390
190.501
Expenditure on:
Raisitlg ￿[la5
Charitable actlVLties
(271)
(60.766)
(271)
209.033)
(148.267)
Total Expenditure
(61,037)
(148.267)
(209,304)
Net (expenditureyincome
Transfers between fiujds
(22,926)
4,123
(i)
(18.803)
et movement in fund5
(22.925)
4,122
(18,803)
Reconciliation of funds
Total funds brought fO￿vard
83,118
19,829
102.947
rotal thads carried forward
15
23,951
Restricted
funds
84.144
Total
2013
Ullrestricted
funds
Note
Income and Endown)ents froln:
Donations and legacies
Charitsble 2Ctivities
Investment income
Other incorne
io,iii
4,250
149
4?,601
10,IEI
241,701
149
42,601
237,451
Total Income
57,111
237,451
294,562
Expenditure on:
Charitsble activities
{97.454)
(218.795)
()16,249)
Total Expenditure
(97.454)
(218,795)
(316,249)
Net (expendittireyincome
Transfei's between fi￿d5
(40.343)
(1,172)
18,656
.172
(21,687)
Net movement in funds
(41.515)
19.828
(21,687)
Reconciliation of funils
Total funds brought forward
124,63J
124,633
Total fi￿dS caTried forward
15
83,118
19,828
102,946
Page 10

The Speedwell Trust Limited
Statement of Financial Acttiqties for the Year Ended 3 1 M3rch 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
alld Losses)
All of the charity's activities derive from eontinuino operations dui'ing the above two periods.
The filuds breakdown for 2024 & 2023 is shown in note 15.
Page 11

The Speedwell Trust Limited
(Registration number: N1682767)
Balance Sheet Is 2t 31 Ilqarch 2024
2024
2023
Note
Fixed assets
Tangible assets
12
5,386
8,690
Current assets
Debtors
Cash at bank and in hand
6.334
105,655
111,989
15,678
102,829
118,507
Creditors: Amounts falling due witbin one yegr
14
24251)
Net current assets
78.758
94,256
Net 2ssets
84,144
102,946
Funds of the Charity:
Restricted funds
23.951
19.829
UTrrestricted income funds
Unrestricted funds
60.193
83.118
Total funds
15
84,144
102,947
For the fLiiancLal year ending 31 March 2024 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relatino to small companies.
Directors, responsibilities..
The members have not requtrcd the charity to obtain an audit of its accounts for the year ifA question in
accordance with sectiotl 476. 2nd
Tbe directois acknowledge their responsibilities for complying with the requirements of the Act with respect
to aecounting records And the preparation of accounts.
These accounts have been prepared in accordallce with the provisions applicable to companies subject to the
small Companies regtme.
The financial itatements on pages 10 to 22 were approved by the trustees, and authorised for issue on
29.l.blL14 and signed on their belialf by:
LatEra Swaile (Chairperson)
Trustee
Page 12

The Speedwell Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
I Chxrity status
The charity is a charity limited by guaratitee and consequetltly does Dot have share capital. Each of the trustees
is liable to contribute an atnount not exceeding £Nil towards the assets of the charity iri the event of liquidation.
2 Accounting policies
Sutnttkary of si￿nificant accounling policies alld key xceountiDg estimates
The principal aecountinu policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presenteiL llniess otherw(se stated.
Statement of eompiiallce
The financial statements bave been prepared in accordance with Accounting and Reportlng by Charities:
Statement of Recommcndtd Practice applicable to ¢kLarities preparing their accouiits in accordance with the
Financial Reportino Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January
2015) - (Charities SORP (FRS 102}), the Financial Reportttjts Stand2rd applicable in the UK and Republic of
Ireland IFRS 102) and the Compallies Act 2006.
Basis of preparation
The Speedwell Trnst Limited meets thc defillition of a public benefit entity utLdcr FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless othen¥ise stated in the relevant accounting
policy notes.
Going eoncern
The trustee5 consider that there are no material uncertainties about the charity's ability to continue as a going
collcern noT any significant areas of uncertainty that affcct the carryin(F value of assets held by the charity.
Exemption from preparing a cash flow ststement
Tlie charity opted to early adopt Bulletin I publislied on 2 Febrnary 2016 and have therefore not iiicluded a cash
flow statement in these financial ststemenrs.
InC0￿e 2nd endoRinents
All income is recognised once tlie chority h&8 entitlement to the income. it is probable that the income WIEI be
received and the amount of the income receivable can be measured reliably.
Donu¢toAs und legaeief
Donations are recognised when the charity has been notified ill writing of both the amount and settlement date.
In tEJe event that a donation is subject to collditiolls that require a level of perforn)ance by the charity before the
charity is entitled to the fijnds. the illcome is deferred and not recognised until either those conditions are fully
met. OT the ￿lfilMent of those conditions is wholly within the control of the chariry alld it is probable that these
conditions will be fulfilled in the Tep)rting period.
Page 13

The Speedwell Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Dgfgrrgd ineOFne
Deferred income represents att]ounts received for future periods arkd is rele&sed to incoming IESOUI'ces in the
period for which, it has been reeeived. Such income is only deferred when:
- The donor specifies that tbe grant or donation must only be used irk fitture accounting periods. or
- The donoi. h&8 imposed conditions which must be met before the charity unconditional entitlement.
InV￿lInent income
Dividends are Tecottnised once the dividend has been declared and notificatlOD has been received of the dividend
due.
Eipenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable
settlement is required and the amount can be me&sured reliably. All costs are allocated to the applicable
expenditure heading that a(F
<rate similar costs to that catettory. Where costs cannot bc dtrectly attributed to
particular lieadings they have been allocated on a basis fA)nsisteut with the use of resources, with central staff
costs allocated on the basis of ttn]t spenL and depreciation charges a]located on the portion of the asset's use.
Other siipport costs Are allocated based on the spread of staff costs.
Raisingfunds
These are costs iTheuiTed in attraeting voluntary incoTne. the management of Ènvestments and those incuiTed in
trading activities that raise funds.
Charitable acÉiwlie5
Charitable expenditure comprises those costs incwTed by the charity in the delivery of its activities and seivices
for its beneficiaries. It includes both costs that can be allocated directly to such activities an(L those costs of an
indirect nature necessary to support them.
Support Costs
Support costs include central functions and have been allocated to activity Cost categories on a b&sis consistent
with the use of resourees, for example. alloeatino
property eosts by floor areas. or per Capi￿ staff costs by the
time spent and other costs by their usage.
Goven)anee eosts
These iJ)clude the costs attributable to the charity's compliance with ¢onstitutionaJ and stathtory requirements,
including audiL strategic management and trustees's meetings and reimbursed expenses.
Taxation
The chaiity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets tlie definition of a charitable ￿mpallY for UK corporation tsx purposes. Accordingly, the
charity is potentia]ly exempt from taxation in respect of income or capital gains received within cattgories
covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the TaxatioT] of Ch&rgeable
Gains Act 1992. to the extent that such income or gains are applied exclusively to charitsble purposes.
Tangible fixed assets
T￿LTrible fixed &%sets are initially measured at cost and subsequently measured at ci)sL net of depreciation and
any impairrnent losses. The charity has a fixed asset capitalisation threshold of £500.
Page 14

The Speedwell Trust Lxmited
Notes to the Financial Statements for the Year Ended 31 March 2024
Depreciation and xmorti5a*ion
Depreciation is provided on tangible fixed asseLS SO &8 to wrtte off the cost or valuation, less any estiinated
residual value, over their expected useful econoniic life as follows=
Asset class
Leasehold Land and Buildings
Fixtures & Fittintts
Deprecixtion tneÉhod and rdte
4 Straight Line
20/0 s￿l0ht Line
Trade debtors
Trade debtors are amounts due from customers for merchandise soLd or services perfornied in the ordinary
course of business.
Trade debtors are recO￿lsed initiatly at the transaction price. They are subsequently measured at amortised cost
using the effective intei'est tnethod. less provision for itnpairment. A provision for the irnpaiment of tt'ade
debtors É5 established when there is objective evidence ihat the charity wiIl not be able to collect all amounts due
according to ttle original terms of the receivables.
Cash and e2sh equivalents
Casli and cash equivalents comprise cash oll hand and calL deposits. and other short-temi hI￿lY liquid
investments that are readily convertible to a known amount of cash and are subject to arl insignÉficant risk of
ch&llge in value.
Tr2de creditors
Trade Creditors are obligations to pay for goods or seftvi¢es that have been acquired in the ordinary cout3e of
business from suppliers. Accounts payable are classified as current liabilities if the charity does not have
unconditional ri￿1t, at the end of the rep)rting period. to defer settlement of the creditor for al least twelve
Mont1￿ after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the L'eporting date, they are presented as non-current liabilities.
Trade Creditors 8se recotrnised initially at the transaction price and subsequently measured at amortised cost
using the effective itJt¢rest method.
Borrowings
Interest-bearints bomwinus are initially recorded at fair value. net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cosL with the difference between the proceeds. net of
transaction costs, and the amount due on redemption being recognised as a Ch￿ge to the Statement of Financial
Activities over the period of the relevant borrowing.
Interest expense is recognised on the b&8is of the effective interest method and is included in interest payable
and similar charges.
BO￿o￿L￿gS are classified as curren¢ liabilities unless the charity has an unconditional right to defer settlement of
the liability for at least twelve months after the reporting date.
FuJJd structure
Ullrestricted income fiEnds are general fttnds that are available for use at the trnstees's discretion In furthelance
of the objectives of the Charity.
Designated ￿ndS are unrestricted fvnds set aside for speeifi¢ pury)oses at the dis¢r¢tion of the trllstees.
Page 15

The Speedwell Trust Limited
Notes to the Financial Statements for Ihe Year Ended 31 March 2024
Re5tiicted incojne fund5 are those donated for use in a particular area or for specific purposes, the use of wliich
is restricted to that area or piirpose.
Financial instruments
Clossificalion
Finarlciai assets and financial liabilities are recognised when the charity becomes a party to the contractual
provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance (yf the con117Ctual
arrangements entered into. An equity instn)metrt is any contract that evidences a residual illterest in the assets of
the charity after deducting all of Éts liabilities.
ReL'ognilion and meusuremenl
All financial assets and liabilities are initially measured at transaction price (ineluding trxnsaetion costs), except
for those fJnancia] assets classified as at fait value through proftt or loss, which are initially Tnea5ured at fair
value (whicb is normally tlie traThsaction PTice excludin(F transaction costs}, unless the arrdnoement coiistitutes a
financino transaction. If an arrangement constitutes a financing transaction. t]ie financial asset or fin2nci21
liability 15 tneasured at the present value of the future payments discounted at a market rate of interest for a
similar debt instrument.
Financial assets and liabilitie5 are only offset in the statement of financial position when, and only when there
exists a legatly enforceable right to set off the reCo.￿LiSed am0[￿ts and the clwity intends either to settle on a
net basis, or to realise the asset and settle the liability si]nultaneously.
Financial assets are deiecognised when and only when a) the contractual rights to the cash flows from thc
financial asset expire or are settled, b) the charity transfers to another pty substantially all of the risks and
rewards of ownership of the financial asseL or c) the charity, despite baving retained some, but not all.
significatlt risks and rewards of ownership, has transferred control of the &sset to another pojty.
FinarLcl￿ liabilities are derecognised only when the obligation specfjfied in the contract is discharged. c8n¢elled
or expires.
Invastments
Investments in non-convertible preference shares 8J]d non-pullable ordinary or preference shares (where shares
e publicly traded or their fair value is reliably measurable) are measured at fail value tbrouJo L profit or loss.
Where fair value catll)Ot be me&sured reliably. investmettts are me&%ured at cost less impainnellt.
Investments in subsidiaries aThd associates are measured at cost less i]np2irrnent. For investtnents in subsidiaries
acquii'ed for consideration ttLcluditig the issue of shares q[￿ifyI[Lg for merger relief, cost is measiired by
reference to the nominal value of the shares issued plus fair value of other ¢onsideTation. Ally pretnium is
gnored.
Fair value y￿e￿￿Tement
The best evidence of fair value is a quoted price for an identical asset tn an active rnarket. When quotsd prices
are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value &s long &$
there has not beer) a signifieant change in eeonomic circumstances or a significant lapse of time since the
transaction took place. If the market is not active and recent transactiorLS of an identical asset on their are
not a tsood estimate of fair value, the fair value is estimated by using a valuation tecEmique.
Page 16

The Speedwell Trust Limited
Notes to the Financial Statements for the Year Ended 31 l¥Iarch 2024
3 Income from donations and leaa£ies
Unrestricted
funds
Total
2024
Totxl
2023
General
Donations and leoacies.
Dollations from individua15
996
996
10,Iii
996
996
10,1 li
4 Incorne from charitable activities
Restricted
funds
Tot21
2024
Total
2023
Community Relations Education
152,390
152,390
241.701
5 lllvestment income
Unrestricted
funds
Tota]
2024
Total
2023
General
Interest receivable and similar income-
Interest receivable on bank deposits
552
552
149
P8ge 17

The Speedwell Trust Limited
Iyotes to the Fin21ncial Statemeuts for the Year Ended 31 March 2024
6 Expenditllre on charitable activtties
Unrestrirted
funds
Restricted
funds
Total
2024
Total
2023
Cener21
Note
Comtnltnity Relations
EducatLOIi
Staff costs
Allocated support costs
Governance costs
30.635
115,861
1,771
53,427
141,543
12,323
1,740
25,682
10,552
1,740
240,610
11,226
2,020
60,766
148,267
209,OJ3
316.249
For detailed staff Costs, see note 9 below
7 Analysis of goverJ)ance and support costs
Governance costs
Unrestricted
funds
Total
2024
Totsl
2023
General
IndependerLt ex2miner fees
Examination of the f￿ancial statements
1.740
1,740
2,020
1,740
2,020
8 Trustees remunergtion and expenses
No trustees, nor any persons connected with them, have Teceived any remuneration from the charity during the
year.
9 Stsff costs
tyregate paymll costs were &s follows:
2024
2023
Staff costs durxng the year were:
WaiFes atLd sataries
Social security costs
Pension costs
Otber staff costs
119,973
11,606
5.952
4,012
202,125
19,944
9,953
S,5S8
141,543
240,610
Page 18

The Speedwell Trust Limited
Notes to the Financi21 St2temellts for the Year Ended 31 March 2024
The monthly average number of persons {includints senior management team) employed by the charity during
tILe year expressed as fitll titne equivalents was as follows."
2024
2023
Employee Numbers
No employee received emoluments of more than £60.000 during the ye2r.
IO Independent examiner's remuneration
2024
2023
Examination of the financial statements
1,740
2.020
Page 19

The Speedwell Trust Limited
Notes to the Financial Statements for the Year Ended 31 M2rch 2024
I l Taxation
The charity is a registsred charity arld is therefore exempt from taxation.
12 Tangible rued assets
Land and
buildiDgs
Furnitui'e 2nd
equipment
Totsl
Cost
At l April 2023
87.217
71.782
158,999
At 31 Mareh 2024
87.217
71,782
158,999
DepYeci#tion
At l April 2023
Charge for the year
87,217
150,309
3,304
3,304
At 31 March 2024
87,217
66,396
153,613
f4et book VAille
At 31 March 2024
5,386
5,386
At 31 March 1023
8,690
8,690
13 Debtors
2024
2023
Trade debtOTS
Prepayinents
Accrued income
3,377
2,957
12,301
2,752
625
6,334
15,678
14 Creditors: 211101Ults falling due witbin one year
2024
2023
Trade creditors
Other creditors
Accruals
Deferred incotne
2,921
3,965
2,333
24.012
1,649
7,096
2,506
13.000
33,231
24,251

The Speedwell Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
15 Funds
Balance gt
31 March
2024
Balance at I
April 2023
Resourc
expended
r￿oUrceS
Transfers
Unrestricted funds
GenerÉTI
Unrestricted Funds
22.332
38,111
(61.037)
10,594
10,000
Desxgnated
Designated Reserves
60,786
(10,593
50,193
Total Unrestricted funds
(61.OJ7)
Restricted funds
Comic Relief
The National Lottery -
Platinuffl Jubilee
Nl Start Here VCSE
Department of Foreion Affairs:
Reconciliation Fund (Our
Shared Futlwe)
Dotmant Accounts Fund
G. Owens
4257
6.000
(10,257)
3.550
12,022
23,500
29,615
(26,002)
(31.306)
1,048
8,458
{8.458)
(24.561)
(2.215)
{4,133)
{9.999)
(25.170)
871
1,035
6,867
3,250
11.000
10.000
25.170
Natwe Rangers
Secret Garden (DFI)
Water Quality (NIEA)
ComtnuThity Foundation -
Wesleyan
(i)
9,966
(6.166)
3,800
Total restrÉcted tsnds
19,829
152,391
(148.267)
(i)
23,952
Totsl funds
102,947
190,502
{209.304)
84,145
Balance at
31 March
2023
Balance 2t I
April 2022
Incoming
resources
Resources
expended
Transfers
Unrestricted funds
General
Unrestricted Funds
63,847
57,111
{97,453)
(1,172)
22,333
Designated
Designated Reserves
60,786
60,786
Total unrestricted fullds
124,633
57,111
(97.453)
(I,l72)
83,119
Restricted funds
Paoe21

The Speedivell Trust Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 Tr1arch
2023
Balance at I
April 2022
Incoming
resources
Resources
expended
Transfers
ACNI
7.825
(7,825)
ABC Council Rivers Grant
Catchment C2
Comic Relief
21,050
24,(100
25,000
(977)
(21,050)
{19,743)
(25.000)
4,257
E Gostling Foundation
Good Relations
Mental Hea]th Support- Dept
of Health
The National Lottery-
Platinum Jubilee
Nl Start Here VCSE
The National Lottery-
Togethcr for OUT Planet
Woodland Wellbeing
977
73.740
(7J.9J5)
195
26,500
34.000
(22.950)
(21.978)
3,550
12,022
i 0.000
16.314
(10.000)
{16.3l4)
Total restrieted fttnds
237,452
(218.795)
1,172
19,829
Total funds
124,6JJ
294,56J
(316,248
102,948
16 Analysis of net assets between fllDdx
Unrestricted
funds
Restricted
fun(ts
General
Total ￿ndS
Tèmgible fixed assets
Current assets
CuiTent liabilities
5,)86
111,989
(3J,231)
88.037
(33.2J l)
23.952
Total net assets
60.192
23.952
S4,144
17 Anxlysis of net fuuds
At 31 Mareh
2024
At l April 2023 Cash flow
Cash at bank and in hand
102,829
2,826
105,655
Net debt
102,829
2,826
105,655
Page 22