Conipany regists'tttion niimber.. N1682767 clrity regisliptiort nuillbei.: 1086115 The Speedwell Trust Limited (A conu)any limitd by guakmntee) Anni1 Report oiid Financial Slftteiiienl8 for tlie Year Ended 31 March 2025 Baxlei'woi'ld l.td Unit 3 D'£an Ind(triNI Park 60-84 Dai'gall th'esceTrt BelfAst BT3 9JP
Tlie Speediyell Ti'ust Liinited Collteiits Refei'enue pnd Adinillistt'&tiv¢ Details Tiiisleesl RepoLI 210 10 StatcmEnt of Tilte88, RG%ponsibililiGs Independeiit Bxaininei's Repoi't 12 Sialonieiit of Fi?ioii¢ial Activitie8 13Lo 14 Balaiice SEieel 15 Notey to the Flnoncial Sialemen18 l6to26
Tlie Speedwell Trust Llmited Refei'eiice aiid Adniliilsti'atlve Details Ti'ustees Laiii'a Sw&ile (ClIRii'person) Fi'aiicis McVei8 Louise Quiiiii Tric Raiiiey (Vicc-cbal'lpyn Teitxice (Ti'casiii'ei. SeBn McElhalion Seci'etfti'y StepbcA Crftbbe Pi'lnclpal Olflee Parkfinp4ur Foresl Pork 57a Pai'l(anaur Road Cllsilecaiiifield Co. Iyi'olle Brio 3AA CaiiipAiiy Re£lsti'Alloii Nuiiibei. NJ682767 ClIAI'ily Reglsti'otloll Number 108645 SolltltOl'8 Jobn Hoyi Son & Muiyliy DX4120NR Dung8nnon Baxleiwoi'ld Ltd Ujiit 3 Darguii Iiidusl(iol Pork 60-84 Dargan CiEsc¢i)I Belfast BT3 9JP Indepeiident Exortilnei. Page I
The Speedivell'fi8t Limite ,Statemeiit of Finallcial Activities foi tlie Year Ei iided 31 Mil'ch 2025 (In¢luding InL'oiiie A)Id Ei xpeiidi(ui"e Accouiit and StAtenieiit ol Totql Reeogiiised Galns and Losses) Uni'esti'ieted fullds Resti'icte(I fuiid5 TutAI 202S Note Incon)e Aiid Li iidoiviiiLlI)Is fi'oin: Doiilllioi ai)d log&cie5 C.IIHI'itable aclivilios Iiivtsttment lliconie oilieL incoijie 5.933 2,225 629 5,933 191,264 629 29,674 189,039 Total Incojnc 189039 227,500 Yyeiiditui'e. oil: Ilaiqitig fuiids Cliai'ilable aciivitles (769) 35,545) (769) 200,564 165,019 Toldl Expenditu Nel ijieoiiie TLAllsfeis betweei) filiids 36,3 l4 165,019 201,333 2,147 14 24,020 14 ?.6,167 Net movenient iii funds 2,161 24,006 26,167 ReeonclllAti(bii of fulids Total fllnds broiigli¢ forwai'd Total fiii)ds caiyicd foi'waid 60,193 23,951 84,144 15 47,957 llesli'leted funds 110,311 I'otal 2024 TJni'vsli"l¢led funds Note liieoine *iid Lfiidoi•nncnts fi'oiii: Donations and legaci¢s CII&L'ilable activities lThYesttiienl llicom¢ Othei. ii)coiJe 996 152,390 152,390 .%.52 36,563 .552 36,563 Total IrLcome 152,390 190 Sal I xp¢.nditill'e on: <271) 60,76 (271) 209,Q33 Cliaiilable activities L48,267 Total Expendituie Net (expeiidittlLe)fiiicome Trottsfu's bclween fiu]ds 61,037 148 267 {22,926) 4,123 (18,803) Net mov1]ent itt fidS (22,925) 4,122 (18.803) Rocoiiciliatiaii of fui)ds Tol&l fuiids biY)uÈlit forwai'd 83,118 19,829 102,917 Pags 13
Tlie Speedwell Ti"ust Liinxted StAtemeiit of fiiiiaiiciiil Activilles foi. tlie Yeai. Elided 31 Th1ai'eli 2025 xicludiiig Incojiie Aiid Li xpenditui'e Accoiint and Statenieiit of Tot81 Reeogiiised Gaiiis .Ind Losses) Uni'esti'ieted fund5 Ile5(-I'letLkd ruiids 2024 Note Total £wid,s Gai'ried foi'ward 15 23,951 All ot. the cl)ai'ity'8 aciivilies dei'ive froiii coutiiiuing patIOnS duriiig the above two periods. Tl)e fuiJd8 bycakduwn foi. 2025 & 2024 is 8hoMi in llots IS. Page 14
Tlie Speedwell I'i"ust Liii)ited (Reglsti"atioll uui1ib': N1682767) B%lance Sjieet as At 31 Mai'ch 2025 2025 2024 Note riixed Assets 1'&118ible fissets i?. 2,083 5,386 Cui'i'eiit assets Debloi's La811 al bll[ aiid ITh hand 13 8,211 120,453 128,664 6.334 105,655 151,989 C'i'ediloi'&: Aniounts folllng due iylthin oi)e yeai. 14 33,231 Net ¢ui'i*nt Asset5 108,228 110311 78,158 84,144 Net $188et8 IrL)iids of tlie c11741'1ty: Re8tYlcled fund¥ 47,957 23,951 Uiiitsli'lct.e.d lllcoiiie fuiids Uiii'c811'A¢led thiids 62,354 110,311 'rotfil fuii(Is 15 Foi'11)e finatteilll year ending 31 M&rch 2025 Ilie clig1.ity WAS entitled tsj exeinption fi'oni audit iiiidcr section 47,1 ofthe Coinp&i)ies Act 2006 1'¢lating to small compani. DIre¢l0, rcsponsibililie4'. The iiiemb¢iy liave not irquii-ed the cl)arity to obtaill ati audit of ils acoounts fo¥ tlio ye81, in qu¢8lLOII III 8ccordoiice wilh xeolioti 476; and The dii'e¢loi's aGknowledge Iheir responsibilities for complying with the requiirniènts t)r ihe Act witli respec lo accouiiling i'¢rdS Thnd Ihe pr¢paration of accouiits. Tliese ctOlt have bexn pi'epared in 8ccoi'dance with tILe provisio1)8 llppliethble lo companies subject to tlie 8mall complliiies i'egitsio. 'rhe fiiiollcial statements. oll pfjges 13 10 26 wcre &PpLved by th¢ hu81¢es, olld HiilboLised for iswe 01129 August 2025 alld signed ott theii. belialf by.. Lawa Swaile (Cliaiyycrsoi)) Trustee P88e 15
The Specdwejl Ti'ii8t Lilllited NotLis to tlie Finaiiciol St2teiiJeiits foi. the Yeai. Ei iided 31 Mai'cli 2025 I cli41.ity slalus Tlje eh41.ity is & clioi'ily lin11d by giiaiaiitee and coiiseqiiendy doe8 iiot l)ave sliarc capital. Bacl) of die tlustees is liable lo conti'ibule an omount ttol exceeding £Nil toiyaids Ilie A&sets of11)e cliarity in dic evell¢ of liquÉdaliL)n. 2 Ac¢ourillnR pollcies Sui))mary of sl211ificaiit gceountlng yullcles #Jid II¢y &Lcounliii2 estiniales TIIC pi'illClPl£ l a¢¢outitillg policies ayplied ia tlie preparation of these fiiiancial stdlcii)enls al'e sel oiit bclow. Tliese policie8 Iiovc been coiisistenily ai)iilicd lo 411 Ihc yeni's picsei)led, uiiless oili¢nvise 8t&ied. Staleniellt of coiiipllttiice Tlie firiunctal slai¢iiienl8 1)ave beeii preparcd iti accordance willi Acc01111ting and Repoiliiig by ClIAI'ilies; Si&teiii¢iil of Recoinniendcd P¥acli¢e 8pplic#ble to choi'ilies pi'ei)ariTkg IIJcii' accoiints in accoi'dance willi Ilie Financial Reporting Standard applicabl¢ iii the UK und Republic of Ircland (FRS 102) (effeclive l J8illl8ly 2015) - (Cliai'ities SORP {FRS 102)), t¢ FinallciAI Repoitin8 Standol'd applicablc iti tl)¢ UK and Republic oe li'elaiid (FRS 102) aiid Ibe Con)pAI)ics Act 2006. Bmslg of i)i'epRI'otlon Tl)o spee.dwell Tru81 Liniited niecls the defii)itlon of a public benefit eiitily uThdei' Iills 102. As'sel8 and liabilitl¢8 al'e initially i.ecolised al liistori¢AI cnst oi. Irfjnsactioii value uiiless otliemis¢ staled iii Ilie I'elevaiit A¢COUiiling i)olicy notes. Goliig coiieei'n Tl)¢ Ii'iistees ¢onsidei' that thvxe al'c ]Jo mAteYiAI uiicertAinlies about the cliarity's ability to continuo 88 B going co1)¢'n noi. any significant of uiicert41nty 11)&t affect the canyiiig vfilue of ass¢ts lield by tlie charity, Ei xei)Iplioii li'tsin pi'ep41'1Jlll 11 LXt*li IIoiv 51atenieiit Tlie cliai'ity opted to eaLly adopt Bull¢liii I published oll 2 F¢bnlY 2016 and Imve theitloir iiot iii¢lvded a casli flow statement in tliese fiiiancial st41ciiicnls. liicoiite Mild endoivnieiits All iiicoine is LTcogiiised oncc the cli&i'ily IS eAlitleiiicnl lo th¢ inconie, it is pn)bable tlial the incollJe will be re¢¢iv¢d and 11)¢ amoLint of tlie ii)come i'eceiv&ble can be mell7d i'eliably. oiJolioii& ¢iiid18gacle Donations are reLognised wheii die chaillty Iios been iiolificd in wriliiig of bolli tho aniount aiid 8ttllle1int date. In Ili¢ Bvenl Ihal a dnnalion is subject to eondilioils t1¢ i'equire A l¢vcl of pei-fon)1&iice by cliaJ4ty beFoYc Ilie cliai'fftly is CLilitled lo the fund¥, Il)e incoinc is defcn'cd and not ITcogiiiscd iinLil eiiliei. ttiose conditio1 al'e fLIIIy nicl, oi. the fulfilnicnL of tl)ose condili0115 is wliolly wiihin Ihe oonlrol of tlic chai'ily and it is piY)b8ble Ilial these on(litions will bc thlfilled in tli¢ Irporting pei'iod. PLge 16
Tlie Speedwell Ti'll5t Llinlted Notes to tlie Iliiiaiicial Stateiiieiits foi. tlie Yeai. iiiled 31 Mai'cli 2025 Defei'i'ed liicoiii* Defei'i'ed incoJn¢ i'qii'esents aiiioutils i'eceived foi. futwr pcrio(ts and is Kcleoscd to incon)ii?g i'esouYce8 itt die pei'iod foj. whlcli, il hss be1 reccivd. Such incoiiie As oJ)ly defcrled wlien; Tlic doiioi, specifies tl)at tlie graTrl oi. doTholion niust only be Ied iii ftltuie occounliiig period8. or Tlie donoj. hus iillposed coiidili0118 whicli musl bc tllct beforc IIK cl)8i'ity118.8 UnlId}llonaI en¢lileiii}¢. liiiie&'liiieiil iJlCDIII Divideiidj ole rc¢ognl$¢d oiice tlie dividend lias been dcclared alld nolificailon lios be1 i'ecr.iveAI of11)e divideiid due. Ii.%peiidltui'e All expeiiditui'e is i'ecogi)ise.d once Il)ere is A leg&1 oi. eonsiiiielive obligqlion lo Ilial expeiidiLui¥,11 is p¥obabl¢ scrtleiyient is i¢quired and tlie oniounl can be iiiusiiird Illbly. All costs al'e allocat¢d lo the applicllble 6xi?eiidittii'c headiii8 Iliat aggregale siiiiilnr Costs lo Ilial ealcgo)y. Wlieit eosts co1)nol be directly allribiilcd to pai'lA¢ulaL lie8dings dicy liav¢ be¢ii allocated on a basis ¢oiisisleJit witli tli¥ use of i'csoui'ces, widi c¢nlJ'al stoff co$18 allocated 011 Ilic basis of linie spent, aiid depreciatioii ch81.ges cilloc8t¢d on tlie poi'lion of the ll&8et's iise, Ot]181' suppoi'l cost8 air 4llocated based on the spread of stsff c08ts. Jirtls,liigJliiids Tlicsc ai'c ¢<J¥ls ilLcuiiEd in atlra¢ting volimlAry income, the nTrage1]itl of inv&%tm¢nts 81Jd 1Siose in¢uii'ed in tLiding 8¢tivities Ih&l raise fiJnd¥. Clinrliable ftLilpliles Chai'ilabl¢ ¢xpertdi¢ui'c ¢oiiwi'iseg lIK8 costs iiiciirttd by Ilie cJiari¢y in tli¢ deliVY of 118 acLivilies aiid suyices foL its beneficithi'ies, It incliides boili costs Illat can bc allocated diitctly to sueh activities and Iliosc costs of 811 indiitcl nattiir necessary lo slipp1 tiiem. ,Suiii)ui't costs SiipJ)oit cos1¥ ill¢lude ¢eiitr&l flw¢lioJ18 and Iiave been allocated to activity cost catcgori¢s oll a basi8 ¢01191stent IVLlh die use of resources, for exaniple, Bllocatiiig i)ropei'ty costs by flooi. aiEllS, Ol. pei. caplia, sl&ff L'ost5 by Ilie linie spent and ot11. costs by tlieii. usage. Ciovei'nftiiee costs Tlie.ie inclLide tlie COA18 alts'ibutable lo th# Ll)akity's compliance willi conslittttion&l tsi)d sttlttitory TequirGinenLs, inoliidirtE aiidil, slixte¥i¢ ana8¢ten1 alld hiistees's meelings aiid reiinburs¢d oxp¢nses. Tax&lion Tlie cliarity is considered lo pass Ilie les15 set oul in Paragrnph I Schedule 6 of Ihe Fiiiaiice Act 2010 hiid Lherefoi'e it nieels thB defillltioii of A chlli'itable coiiipany for UK coiyoilltion lilx puI'pose.%. Accoi'diftgly, IEL¢ cliwity is poteilli&lly exciiipl fro]ll laxalion In respect of inconie oi. c&pilal gains recelved wiiliiii calegoiies covet'ed by Cliapler 3 Palt I l tsf die Corpoi'alion Tux Act 2010 or Seclioli 256 of Ilie Taxation Df Cliai'8eable Gaiii.8 Aet 1992, 10 Ilie ¢xlent Ilial sucli iiiconie oi. gains aLf Applicd exclusively lo elillyilable pw'poses. Iqiigtble Ilxed assets Taiiglble fixed assets are Initially measured at cost and subsequently iiieasured al cost, net of depreciation aiid aiiy iMpaiiincnt1088¢s. Tlic cbwity has a fixcd t¢1 capitslisation IlllT81iold of £500. Page 17
Tlie Speedwell Ti'ust Liinited r4otes lo tlie Flnaiicjal Stateiiients foi. tlie Yeai. Ended 31 MAI'eli 2025 Depi'celailoii 4lLd Aii)ui'il&tidon Depj'ecialion is pi'ovided oil l&ngible fixcd assets so to wi'itc off ll)e eosl oi. valu&lioii. le&5 aiiy esliiiialed Irsidiial v4liie, ovei, Iheii. expecled itfI11 econoinic life as follows: Asset class l.e4seliold L811d aiid BiiildiiiBS Fixtuit.s & Fillings Depi'ecli¢ tioii nielliod aiid i'nt¢ 4 /• StraiElIL Line 200/0 Siiaigl)i Liiie Ti'nde debtoi's Trade debtoii al'e linouiils du¢ froin custonieys foi. meirhartdise ld or s¢i'viccs per£oiTr¢d in tlie oiliu41'y cours¢ of busit]ess. Ti'ade debtors ore Lecognised illilially at Ilie transaction pi'iee. Tlicy arc sllbscqueiitiy illeasw'ed at ainoi'lised cosl ii.%iiig Ilie effeelive inlei'¢st Inediod, less provisioi) foi iinpairiiieni, A provision foi, tlie IiiipalrineJ)l of Irade deb1013 is established wlieii Iliere is ol)jeclive cvidence Ilial tlie cliili'iiy will not be ablc lo collect all ainoui)t8 du? ecoi'ding to Ili¢ original tciiiis of the recelvables. CASII Aiid enskn eqiiivalents Casli asid ca&li cquivaleiiLs coinpri8e Lttsh on liand And ¢all Iloposils. ai)d olh¢r shoit-tenn l)igl)ly Itquid investshcnts tliat oi'c i¢Adily convcilible to a kniowll amoiint of casli and al'e subject to an in8ignifi¢4ftt i'isk of chaie iii v8Liie, I'l'ade ci'odll'oi's Ti'ade Liedilors al'e obligilion8 to pay for g¢Jods or Servic Iliat lillve been acquired in tho oi'dlnaiy enurse of biisiness fi'oni 8uppllei's. Accouiil& payable ar8 classified as eiiiTent lillbill(ies if tlie clthi'ily does ttol Iiav¢ 411 UIILDt)d1linal iiglil, al tlie and of tlie iEPOI'ling poriod, lo defor s¢ll{¢ii)?I of Ilic ¢dI101. foi. at le95t twelv Iiioiitlis aft¢i' Ilie Irporliii8 dale. Ir Iliein is an uiiconditional rLgl)I to defei. scttlenieiii foi. al least Iwclve ii)01)Ilis aftei, Ilie reporling dkte, they pi'e$eTrled non-ciirretit liabilities. Trude ci'editoiy are irco8nised inilially al tlie ttnnsaotion price and subsequently Ine4sLiiEd &t ailloi'li.Eed cost iising the ¢ff¢ctivc inlei'est nieihod. Biii'i'oivlngs Inlei'est-bcut'ing boi'rowiiigs initially iEcorded a¢ fair vnlue, iiet of li'MI)saction eosls. ILkre8t-bearii bori1vilIgS are siibsequently ¢&Ied 41 81110rtised COBI, will) Ihe differellce belween tlie proceeds, nel of li'onsaclioi) costs, and Ilie aii)ount due on r¢den)i)lioii beii)g ircogniscd lls a cliargc lo Ilie Sialeiiiei)t of Fiiianeial Aclivities oveA' tlie p.10d of the relevant boiyowing. Inlei'est cxpeik8e 18 reco8nlsed on the basis of the etyedive inte¢ meiliod #t 15 iiicluded in intoK8L payable aijd sinii18r cliaL8es. Bon'Dwings ale clllssified as ciiii'ent li4bilities Ullless Ihe cliai'ity has an Ullcolldilional righi to defel setllenienl or tbe liability for al least hv¢lve monll aftek. Il)e i'epoktinA dal#. Fuiid t4ti'iicthi'e Uni'eslLiclLd incoiiic fliiids #re gene1 fillids Iimt are avRilablt foi. u5¢ LI Iru8tees's disGretiOll ill tuitliei'fvnco of Ili¥ ubjeclives of Ili¢ cl)ai'ity. Designated funds are uni'estricled fiinds scl oside foi. spccific PJLPOSC& at the diseLttion of Ilie tnislee8. Page 18
Tlie Speedwcll Ti'115t Liniited Nol'es to tlie Fliiaiicilll Stllteineiit8 foi, tlie Yeai Li iided 31 Mar¢li 2025 Restyicled incoNie fiii)ds are 11105¢ don&lcd foi. us¢ in a p8rticiilaL area or for 4)ecific puyposaq, the lis¢ of wliioh is ITsIL'1cl Iliat dtta or pwpose. Finai)¢iftl ijisti'unientx inuncial as8els and financial ligbililies Itcogiiised wliei) the oliai'ity brK(kn)es a paLty to dic LonLI'ALtual PI'OViSIOl)8 ofthe iiislLiimeiit. Finaiicial liabilities and equity instriiinei)ts are classified aceordiiig to tl)e %4ibsl8nce of the coiitsi¢tiial .111'angom¢iits eAlotcd into. An cquily itjstnimcnt is any contr8c¢ t1¢ ovid¢iices & i'csidiiAI iiilci'cst in tlie &ssets of tlie oliai'ity Afiei, dcductliig a51 of ils li8bilili¢s. RecDgiililnii rtiid iii¢cisiii'eiiieiil All financlal 8&8els llnd li&biliti¥s are iiiiliiilly nie88uiEd Nt lixiisudioii piice (incliiding Iransoclion costs), exeepl foi. Iliose fiÈJanciMI 8SS¢ts Ll¥ssified as at fai¥ valutt lliroiigli profit ur loss, whicli al'e initially nieasui'ed al fail. value (Ivl)ich is Iioi'tnally Ilie ti'qnsgotion PLi¢e excludiiig Irai)8actioii cck8ts), 111)le&g tli¢ nn'angcinent coii8lilulcs finmncitig li'ansaction, If an ai'L8ngciiieiil constiliilcs a fiiinncing Ii•nsftclion, die finllncial a85t oi, finai)clal liability is measwed Al Ilie pi'esent valiic of Ihe rub.C panlIS discounted al A 11)ai'ket yate of li11.est for o sittiilai. debt i1)shrne1}I, Fii)aiicial assets ai)d li8bllitie8 a only offsel in tlie Slatlle1}I of fiiianGial positloi) wlien, a))d onty wliet) IIi¢Le exists ll l¢gally eiifoi'eeable rlglit lo s¢1 off Ilie i'ccogi)ised 14 Inounts and Ilie cliurity iiit¢nd& eillier lo settle on iiet basis, OL to iralis¢ Ilie ag8el aiid 5ettlc Ihe liability slniullaneously. Finaiicial ass¢l6 ar¢ derccogni8ed wlicji dnd oiily wliell a) tlie con1raC1 riglils 10 11)tt CVAsli flows fiDii) 1118 fii)aiicial hsscl expiie OK al'e settled, b) tlie ¢l)81'ity 1iansfei% to anotlier parly subslanlially Nll of tlie risks aiid i-ewards of ownei'sliip of Ilic financial &8.%rA. ui. c) tl)e ¢l)arity, despi IVill8 i'elaiii¢d some, bill nol all, Siliricant i'isk¥ atLd rewai'ds of Ownh1p9 l)&s tttnsfcnrd control of the ass¢t to Dnotlier PBLty, Financial li4bililie5 ore de08n15Cd oiily wlieii die obligatioii si)ecified in It collti'tLcI is disc11.ed, ¢an¢dled oi, expii'¢s. Invesli)ienls in non-conveylible PLefeitnce shares oiid noii-piittable ordinRI)i oi pirfeitiice sliai'es (wliei'e sh&ies dre publicly Ixaded oi Ilieii. f&ir value is reliably iiieaswable) iiieasuird &1 faTI' Yalu¢ Ilii'oiigh i)ItJfil 01. 1088. Wlieie fllii. v81uL c&iuiot be i)ie&siire(t i'eliably, invgstnienls alc measured at cost less iiiipairiilent, Iiive8ln)enls subsidlarle8 and a8socioles llre m¢asured at ¢ost les5 Inipaii'ii)enL Foi. invcsliii¢iils subsidiai'ies acquiltd foi. consideration jiicliidiiig tlie isslle of slillirs qualifyiii8 £- i71.8¢r relief, c081 Is iiieastsred by Lefei'eiice lo Ihe noiiiitml value of Ilie sliares i8siied plus fair valu¢ of ollior coiisideratioii. Aiiy is ignDI'ed, Foil. 114liie iJJÈnsiii'eiiieiil Tlia b&8t evidence of foir value is 8 quoted price foi. an idenlicthl as8et ii) un active DINikel, Wl)en qlioled prices 'e iinuvAiluble. Ille pi'ice of H receiit trani8ctioTh for tsn ideiitical assct pj'ovldes evidenee of fair voliie loiig 88 tlicr¥ l)as llut been 74 SiEnifie&nt ttliaiiEe iii economic cii'cuinslances oi. a significtLii¢ lapse of tuiie 8iii¢e Ilie ti'aiisaclion took place. If t])c n)arkel is not active and I'ccent Iralls&Ctions of ali idei)lical assel on Ilieii. own are ilol a good cStiinle of fail. value, Ihc fAir Val 18 esliinated by usitkg 8 valualioll led)niqiie. Pag¢ 19
Tlie Speedwell Ti'ust Liillited Nol'es to tlie Flnanclal StAteiiieiits for the Yeai. iided 31 Mi¢ I'eh 2025 3 Iiie¢>iiie fi'oiii doiiALiuiis aB]d legacles Uniysti'lcted fuiid TolAI 2025 'rotAI 2024 GtneA'AI Donations and le8acieg', Doiiatioi)s fiY)iii individiials 5,933 5,933 996 5,933 996 4 Ijitiiiiie fj'oni cliAI'lt8ble Actlyltles Uni'e&ti4cted fuiids Resti'icled funds Total 202S TotHI 2024 Cei)ei'AI Coiiiiiiunity R¢lo110118 Edii¢ation 2,225 189,039 191264 l52 390 5 1iiveslni¢Mt Income unl.11.1cttd fiiIids Total 2025 Total 2024 Gei)ei'al Interest Leceivoble aiid siinilar iii¢omo' Inlei'esl I'eceivable on baith depogit8 629 629 552 Page 20
Tbe Speedwell Ti'ust Liinited Iyotes to tlie FiiianclaE StAteRiieiits foi. tlie Yeydi, Ei iided 31 mai.cli 2025 6 Expejiditui'c 011 cliai'itahle aetlvitle5 Uniwtricted fild8 Resli'lcted ftiiids Total 2024 Gentl'RI 2025 NDIC Cnn)Ll1)ity Rclatioiis Bducatio Staff oosls Allocated siipw)Ll c081s Goveinaiice costs 21,254 928 11,503 .860 37,663 126,354 1,002 511,917 A27,282 12,505 1,860 200 564 53,427 141,543 12,323 35,545 165,019 209,033 For detailed staff ¢osts, see iiote 9 below 7 AIi4ly$ts of goveynance iiid suppoi'l Costs Govti'noiice ¢o$lA Uni'e5ti'lcled funds Tntal 2025 TotAI 2024 GeiiorAI Indepeiident exalliiner fccs Exaininutioll of tlie fit)ancial slA1emeiS 1,740 1,740 1,860 1,860 8 Ti'ustee8 1'eMiiiiieA'Jltlon Ajid exponses No tsvslee8, nor Hny persons coNie¢ted WAtii thein.11gv¢ f¢c¢ivBd any rcmuiiciylioii fiDm Ibe chJi'ity duLing th ye8L. 9 Stfiff costs Tbe &g.egatc payroll cos18 were Is follows.. 21)25 2024 StAfl costs dui'i11g the ye#i' Ivei'e: Wa8 And sal&Li Social 8ecw'Lty costs Pension co.gls Otlityr slaff costs 110,175 10,366 5,18S 1,556 127 282 119,973 11,606 5,952 4,012 141543 Page21
The SyeedwelI Ti'ust Liiijited Noles to tlie Iyiiiaiicial Stateineiits foi. tlie Ye21'. Ellded 31 M#i'eh 2025 Ylie niontlily aveitge Iiiiniber of p¢r8ons (incliiding seiiior managcliieiit lekn) eiiiyloyed by tt]c chaiity diii'ii tELe yeai. expJ'esÈed as full liiii? cquival¢i)Is was ds follows: 2025 2024 Eti)ployee NuDiber3 No cniJ)loyee i'eceived emoltimei)ts of iiiore than £60,000 dul'iiig tli¢ year. 10 Indepeiidellt ex4tnlnoi & i-eniuneiitloii 2025 2[124 Exai)iiiialioii of the fii?ancial slaleiiioiits 1,860 Page 22
The Speedwell Ti'ust Liinited Notes to tlic Fiiia)Icfial Stateincnts for the Yeai. Knded 31 Mai'cli 2025 11 TaxRtxoxi The cl)uiily is 8 rogislercd cllarity and 18 11)¢refoR exunpi fiimn taxotion, 12 Tlln%lble flxed nssels LAiid nsid buildlttES ri ui'llltui'o An equipiiieiit TotAI At l Apill 2024 87,217 71,782 158,999 Al 31 MarLlI 2025 71,782 1511,999 Depi'e¢JAtIoii Ai l Api'll 2024 Cliftrge foi. Ilie yeai. AI 31 Mah 2025 87,217 66,396 3,303 153,613 69,699 156,916 Net booli ynlue At 3 l Mai¢li 2025 2,083 5,386 At 31 Mawli 2024 13 Debtoi's 202S 2n24 Ti'ode debiois Pirpayiii¢ii18 4,774 3,377 14 Ci'editOl'8'. amounts fAllinE dve iyithiii ane yepi. 2025 2024 'rrad¢ ¢redila¥s oiliej. trdxation attd sooiol seciiiity OlheL oieditois Pen.8ion selieiiie cKedilo 5,39S 2,02D 745 661 5,745 5.370 2,921 3,96.5 2,333 24,012 Defen'ed in¢oni¢ 33,231 Page 23
Tlie Speedivell Ti"ust Liiiiited Notes to tlie fi Inaneiax statneilts foi" tlie Yeai. nded 31 Mai'cli 2025 Is fi uiids Blliiiice ot 31 Mlli'cli 2025 Bal1]ee Al I Ai)I'il 2024 RL'SQUI'ce$ exi)eiided i'esoui'c Ti'aiisfei's UJii'eBtI'l¢ted fuiids G¢iiei'lll Ui)Ytsli'lcted Fun(Lg 10,000 38,461 (36,314) 14 12,161 DeslEiinlerf Desiwialcd Rescives 50,193 SO,L93 Totfil Uni'esti'fficted fund$ 60, 193 38.461 62,354 Resti'lcted funds ACNI ABC Coui)cil The Nalioual Loiieiy - Plaliuuni Jiibilee NI SIArl HC1 VCSE Dni'inolit Accoun Fiu)d O, Oweijs 1961 CT - NlltLire Raiiger.s Conuiiiinity Foundation - We81¢yo11 Walei. Qualily (DABRA) West Feilln81)agli EtNV Bdiicaliot) Auilioi'ily Planned Intuv¢iJtion8 Mid Ulstei Di$tiicl Couiicil Halifftx Garfield Weslon Erthalon Foundation Depl of Foi'eigji Affoii'.s: Reconcillalioi) Fund (Border ,SGI)ools Reconcilia¢i04 Project) 10,772 3,160 (4,299) (3,146) 6,473 (14) 1,048 10,331 870 ,035 6,867 (1.048) (33,541) (J8,170) (1,035) (2,434) 30,222 49,998 7,Q12 12,698 5,000 9,433 3,800 (3,801) (25,046) (1,750) 25,046 1,750 5,194 15,692 7,012 15,000 500 {5,194) (4,094) (6,531) (14,738) (500) 11,598 481 262 19,693 19,693 Total I'&%ti'leted fuiid8 189,039 165,020 {13 47,957 Total flind8 201334 110,311 Balaiice &L 31 Mthi'tli 2024 liiconiing I.OU1'Ce8 Olli.te5 expellded pi'll 2023 Ti'aiisfei's UTki'CStI'Acted fyiid6 Page 24
Tlie SpeedTrveS1 Ti'iist Limited Noles to tlie Fiiiauclal Stthteineiits foi. tlie Yeai. fi iided 31 Mai'cli 2025 BalAYlCQ g4l 31 MAI'LI) 21124 BAIAnce At I Aprll 2023 Ineoiiiln£ i'esoui'ces Resnui'ccs expelided Tk'Hn$fei's Geiiei'al UAuestt'ict¢d Fiinds 22.332 38,11 I (61,037) 10,594 10,000 De8i8nllted Rcsei'ves 60,786 (10,593 Totftl ujiytsti'leted funds 83,Il8 38111 61,037 Re.Iti'lcted fuiid.s Coiiiic Relief Tlie Natiuiial Lortery- Plaliiiiiiii Jiibilec NI Sllll't Hei'e VCSB Depai'lii)ciit of Foi'eign Aff4ir8: Reeoncili8lioii Fiind (Oui Sliai*d Fului'e) DoiinKnt Accoiinls Fiund Q, Owe.A 1961 CT - NatrJro.R&nger8 Seci'el Gaifjen (DFD Water Qu81ily (NIBA) CoiiiLllUI)ity FoundatLOn- W&81eyo 4,257 6,000 (10,257) 3,550 A2,022 23.500 29,615 {26,002) (31,306) 1,048 10,331 (8,458) (24,56 l) (2,215) (4,133) (9,999) (25,170) 25,432 3,250 IL,000 10,000 25.170 871 1,035 6,867 (i) 6,166 3,80n TotAI I'esti'lcted fuilds 19,829 152391 148,267 Totol funds 190,502 209,304 84,145 16 Analysis uf iiet 4s.8et$ be(iYeen fuiid¥ Uni'esti'lcted ruiid5 Restrleted fuiid8 GeneK'AI TotAI lulld TaLigible fixed asscls CllrLenl assets Currenl liabililics 2,083 80,706 20,436 2,083 128,664 (20 436 110,311 47.958 Total n¢18ssels 62,353 47,958 Page 25
Tlie Spccdwell Ti'ust Litiiited Notes to tlie Flnanclal Stateiiicnts foi. the Yeai. Ended 31 mai.cli 2025 17 Anoly.¥ls of iiet fuiid8 At 31 Mai'cl) 2025 At l Api'll 2024 Cftsli noiv Casli 41 bank ai)d in Ind 105,655 14,798 120,453 Net debt 105,655 14,798 120,453 Page 26