IRIS Accounts Production v26.1.0.640 Other Company accounts True false Pounds 1.4.24 31.3.25 31.3.25 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true true false true false false 0 0 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh NI051952 2024-03-31 NI051952 2025-03-31 NI051952 2024-04-01 2025-03-31 NI051952 2023-03-31 NI051952 2023-04-01 2024-03-31 NI051952 2024-03-31 NI051952 ns0:CharitableCompanyLimitedByGuarantee 2024-04-01 2025-03-31 NI051952 ns15:PoundSterling 2024-04-01 2025-03-31 NI051952 ns11:FRS102 2024-04-01 2025-03-31 NI051952 ns11:IndependentExaminationCharity 2024-04-01 2025-03-31 NI051952 ns11:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 NI051952 ns11:FullAccounts 2024-04-01 2025-03-31 NI051952 ns11:CharitiesSORP 2024-04-01 2025-03-31 NI051952 ns16:EnglandWales 2024-04-01 2025-03-31 NI051952 ns11:RegisteredOffice 2024-04-01 2025-03-31 NI051952 ns0:Trustee1 2024-04-01 2025-03-31 NI051952 ns0:Trustee2 2024-04-01 2025-03-31 NI051952 ns0:Trustee3 2024-04-01 2025-03-31 NI051952 ns0:Trustee4 2024-04-01 2025-03-31 NI051952 ns0:Trustee5 2024-04-01 2025-03-31 NI051952 ns0:Trustee6 2024-04-01 2025-03-31 NI051952 ns0:Trustee7 2024-04-01 2025-03-31 NI051952 ns0:Trustee8 2024-04-01 2025-03-31 NI051952 ns0:Trustee9 2024-04-01 2025-03-31 NI051952 ns11:CompanySecretary1 2024-04-01 2025-03-31 NI051952 ns0:Activity8 2024-04-01 2025-03-31 NI051952 ns0:Activity8 2023-04-01 2024-03-31 NI051952 ns10:WithinOneYear 2025-03-31 NI051952 ns10:WithinOneYear 2024-03-31 NI051952 ns0:TotalUnrestrictedFunds 2025-03-31 NI051952 1 2024-04-01 2025-03-31 NI051952 ns10:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 NI051952 2 2024-04-01 2025-03-31 NI051952 ns10:FurnitureFittings 2024-03-31 NI051952 ns10:FurnitureFittings 2025-03-31 NI051952 ns10:FurnitureFittings 2024-03-31

REGISTERED COMPANY NUMBER: NI051952 (Northern Ireland)

REGISTERED CHARITY NUMBER: 103193

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Springfield Charitable Developments

Limited

| Springfield Charitable Developments |

| Limited |

Contents of the Financial Statements

for the Year Ended 31 March 2025

| Page |

| Report of the Trustees | 1 |  | to |  | 3

| Independent Examiner's Report | 4 |

| Statement of Financial Activities | 5 |

| Balance Sheet | 6 |  | to |  | 7

| Notes to the Financial Statements | 8 |  | to |  | 13

| Springfield Charitable Developments |

| Limited (Registered number: NI051952) |

Report of the Trustees

for the Year Ended 31 March 2025

Springfield Charitable Developments Ltd is a company limited by guarantee which was incorporated on 6th October 2004. The company was registered with the NI Charity Commission on 5th November 2015.

OBJECTIVES AND ACTIVITIES

Objectives and activities

The principal activity and objective of the company continued to be the provision of retail, office and daycare premises to charitable organisations in particular to Springfield Charitable Association Ltd, a related charitable company with common directors/trustees.

Public benefit

The Trustees of Springfield Charitable Development have fully complied with the public benefit requirements as set out in the Charity Commission for Northern Ireland's statutory guidance on public benefit.

Springfield Charitable Development aims to improve the quality of life for the inhabitants of the Springfield area. This is achieved through the acquisition, development, and maintenance of property in the local area. Properties are then let to other charitable organisations to further help promote their aims.

ACHIEVEMENTS AND PERFORMANCE

Achievements and performance

There were no acquisitions or disposals of property in the year 2024-2025. This is in line with our strategic plan to discontinue any further investment activity at this time. The use of investment property and associated rental income has played a strategic part in the past for furthering the charitable aims of Springfield Charitable Association LTD (SCA), a related charitable party, with common trustees. In making this commitment the Trustees of SCD recognise their responsibility to protect the built assets which are an integral element in the delivery of SCA's charitable services, and as such will conduct relevant reviews and analysis of their impact on an on-going basis.

FINANCIAL REVIEW

Financial position

The charity's financial performance is reviewed on a monthly basis by the board. The charity also has an independent examination performed by an external chartered accountant. The level of charitable income for the year under review totalled £42,792 compared to the comparative financial year of £44,569. The charity made a donation of £149,000 to Springfield Charitable Association Ltd, a related party charitable company. The charity recognised a reduction in fair value on its Springfield Road properties in the year of £112,730. Net Assets totalled £854,131 at the year end, this is down from the previous year of £1,163,659

Reserves policy

The trustees recognise that it is necessary to hold reserves in order to offset the effects of fluctuation in future incoming resources. To this end the charity aim to hold free reserves which equate to 3 to 6 months operating costs.

FUTURE PLANS

Following the development of the charity's headquarters at Cupar Street in Belfast the charity will continue to look to develop and strengthen its commitment to the local community through its own charitable objectives and the provision of facilities for other charities to provide programmes of support to the unemployed and elderly within the area.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Due to the nature of the charity's work the trustees seek to ensure that these needs are appropriately reflected through the diversity of the trustee body. To enhance the potential pool, trustees are requested to provide a list of their skills (and update it each year) and in the event of particular skills lacking or being lost due to retirement, individuals are approached to offer themselves for election.

| Springfield Charitable Developments |

| Limited (Registered number: NI051952) |

Report of the Trustees

for the Year Ended 31 March 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

NI051952 (Northern Ireland)

Registered Charity number

103193

Registered office

27 Clonard Crescent

Belfast

Co. Antrim

BT13 2QN

Trustees

V Davidson

J Sweeney

A Johnston

C Rodgers

J Tate (appointed 27/6/2024)

C Canavan (resigned 27/6/2024)

B McGrath (resigned 18/10/2024)

G Kelly (resigned 30/4/2025)

A McCracken (resigned 4/12/2025)

Company Secretary

J Sweeney

Independent Examiner

M.B.McGrady & Co

Chartered Accountants

Rathmore House

52 St Patricks Avenue

Downpatrick

Co. Down

BT30 6DS

Bankers

Bank of Ireland

202 Andersonstown Road

Belfast

BT11 9EB

Solicitors

Ferguson & Co

Causeway Tower

9 James Street South

Belfast

BT2 8DN

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of Springfield Charitable Developments Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

| Springfield Charitable Developments |

| Limited (Registered number: NI051952) |

Report of the Trustees

for the Year Ended 31 March 2025

TRUSTEES' RESPONSIBILITY STATEMENT - continued

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

- | select suitable accounting policies and then apply them consistently;

- | observe the methods and principles in the Charities SORP;

- | make judgements and estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

Each of the persons who is a trustee at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant information of which the charity's independent examiner is unaware of; and

- they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant information and to establish that the charity's auditor is aware of that information.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Approved by order of the board of trustees on 8 January 2026 and signed on its behalf by:

V Davidson - Trustee

Independent Examiner's Report to the Trustees of

Springfield Charitable Developments

Limited

I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages five to thirteen.

Respective responsibilities of charity trustees and examiner

As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

- | examine the accounts under Section 65 of the Charities Act

- | follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act

- | state whether particular matters have come to my attention.

Basis of the independent examiner's report

I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

1. | That accounting records were not kept in accordance with Section 386 of the Companies Act 2006

2. | That the accounts do not accord with those accounting records

3. | That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the 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

4. | That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Malachy McGrady FCA

M.B.McGrady & Co

Chartered Accountants

Rathmore House

52 St Patricks Avenue

Downpatrick

Co. Down

BT30 6DS

9 January 2026

| Springfield Charitable Developments |

| Limited |

Statement of Financial Activities

for the Year Ended 31 March 2025

| 31/3/25 |  | 31/3/24

| Unrestricted |  | Total

| fund |  | funds

| Notes | £ | £ |

INCOME AND ENDOWMENTS FROM

Charitable activities

Charitable activities | 40,599 |  | 43,790 |

Investment income | 2 | 2,193 |  | 779 |

Total | 42,792 |  | 44,569 |

EXPENDITURE ON

Charitable activities

Charitable activities | 239,590 |  | 74,545 |

Net gains/(losses) on investments | (112,730 | ) | - |

NET INCOME/(EXPENDITURE) | (309,528 | ) | (29,976 | )

RECONCILIATION OF FUNDS

Total funds brought forward | 1,163,659 |  | 1,193,635 |

TOTAL FUNDS CARRIED FORWARD | 854,131 |  | 1,163,659 |

| Springfield Charitable Developments |

| Limited (Registered number: NI051952) |

Balance Sheet

31 March 2025

| 31/3/25 |  | 31/3/24

| Unrestricted |  | Total

| fund |  | funds

| Notes | £ | £ |

FIXED ASSETS |

Investment property | 7 | 421,245 |  | 533,975 |

CURRENT ASSETS |

Debtors | 8 | 245,119 |  | 313,022 |

Cash at bank | 211,270 |  | 327,788 |

456,389 |  | 640,810 |

CREDITORS |

Amounts falling due within one year | 9 | (23,503 | ) | (11,126 | )

NET CURRENT ASSETS | 432,886 |  | 629,684 |

TOTAL ASSETS LESS CURRENT LIABILITIES | 854,131 |  | 1,163,659 |

NET ASSETS | 854,131 |  | 1,163,659 |

FUNDS | 11

Unrestricted funds | 854,131 |  | 1,163,659 |

TOTAL FUNDS | 854,131 |  | 1,163,659 |

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 statements, so far as applicable to the charitable company.

| Springfield Charitable Developments |

| Limited (Registered number: NI051952) |

Balance Sheet - continued

31 March 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 8 January 2026 and were signed on its behalf by:

V Davidson - Trustee

J Sweeney - Trustee

| Springfield Charitable Developments |

| Limited |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

| • | the requirements of Section 7 Statement of Cash Flows.

| Critical accounting judgements and key sources of estimation uncertainty

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

| No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies.

| The key assumptions concerning the future and key sources of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

| •the fair value movement of the investment property.

| Income

| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

| Expenditure

| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 20% on cost

| Investment property

| Investment Property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the statement of financial activities.

| Springfield Charitable Developments |

| Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

1. | ACCOUNTING POLICIES - continued

| Taxation

| The charity is exempt from corporation tax on its charitable activities.

| Fund accounting

| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. | INVESTMENT INCOME

| 31/3/25 |  | 31/3/24

£ | £ |

| Deposit account interest | 2,193 |  | 779 |  |

3. | NET INCOME/(EXPENDITURE)

| Net income/(expenditure) is stated after charging/(crediting): |

| 31/3/25 |  | 31/3/24

£ | £ |

| Independent examination fees | 1,320 |  | 1,100 |  |

4. | TRUSTEES' REMUNERATION AND BENEFITS

| There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

| Trustees' expenses

| There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

| Unrestricted

| fund

£ |

| INCOME AND ENDOWMENTS FROM

| Charitable activities

| Charitable activities | 43,790 |

| Investment income | 779 |

| Total | 44,569 |

| EXPENDITURE ON

| Springfield Charitable Developments |

| Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

| Unrestricted

| fund

£ |

| Charitable activities

| Charitable activities | 74,545 |

| NET INCOME/(EXPENDITURE) | (29,976 | )

| RECONCILIATION OF FUNDS

| Total funds brought forward | 1,193,635 |

| TOTAL FUNDS CARRIED FORWARD | 1,163,659 |

6. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 April 2024 and 31 March 2025 | 742 |  |

| DEPRECIATION

| At 1 April 2024 and 31 March 2025 | 742 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  |

| At 31 March 2024 | - |  |

7. | INVESTMENT PROPERTY

£ |

| FAIR VALUE

| At 1 April 2024 | 533,975 |  |

| Impairments | (112,730 | ) |

| At 31 March 2025 | 421,245 |  |

| NET BOOK VALUE

| At 31 March 2025 | 421,245 |  |

| At 31 March 2024 | 533,975 |  |

| Springfield Charitable Developments |

| Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | INVESTMENT PROPERTY - continued

| In accordance with FRS 102, investment property shall be measured at fair value at each reporting date with changes in fair value recognised in the Statement of Financial Activities. The charity utilised the directors knowledge of the local property market to carry out the fair value valuation at the reporting period. They have determined that a reduction in the fair value of the Springfield Road properties should be recognised. The fair value methodology was to compare similarly properties sold in the open market value. Where this information was not available or sufficient, alternative valuation techniques, utilising the projected cashflows, rental yields, the portfolio of tenants and remaining lease terms were undertaken to arrive at a reliable estimate of the fair value of the various properties held.

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

| 31/3/25 |  | 31/3/24

£ | £ |

| Trade debtors | 14,427 |  | 8,307 |  |

| Other debtors | 229,524 |  | 304,524 |  |

| VAT | 1,168 |  | 191 |  |

245,119 |  | 313,022 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

| 31/3/25 |  | 31/3/24

£ | £ |

| Accruals and deferred income | 23,503 |  | 11,126 |  |

10. | SECURED DEBTS

| The charity has a charge in favour of UCIT secured on the Cupar Street property and BOI on the Springfield Road property.

11. | MOVEMENT IN FUNDS

| Net |  |

| movement |  | At |

| At 1/4/24 |  | in funds |  | 31/3/25 |

£ | £ | £ |

| Unrestricted funds

| General fund | 1,163,659 |  | (309,528 | ) | 854,131 |  |

| TOTAL FUNDS | 1,163,659 |  | (309,528 | ) | 854,131 |  |

| Springfield Charitable Developments |

| Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

11. | MOVEMENT IN FUNDS - continued

| Net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Gains and |  | Movement |

| resources |  | expended |  | losses |  | in funds |

£ | £ | £ | £ |

| Unrestricted funds

| General fund | 42,792 |  | (239,590 | ) | (112,730 | ) | (309,528 | ) |

| TOTAL FUNDS | 42,792 |  | (239,590 | ) | (112,730 | ) | (309,528 | ) |

| Comparatives for movement in funds

| Net |  |

| movement |  | At |

| At 1/4/23 |  | in funds |  | 31/3/24 |

£ | £ | £ |

| Unrestricted funds

| General fund | 1,193,635 |  | (29,976 | ) | 1,163,659 |  |

| TOTAL FUNDS | 1,193,635 |  | (29,976 | ) | 1,163,659 |  |

| Comparative net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 44,569 |  | (74,545 | ) | (29,976 | ) |

| TOTAL FUNDS | 44,569 |  | (74,545 | ) | (29,976 | ) |

| A current year 12 months and prior year 12 months combined position is as follows:

| Net |  |

| movement |  | At |

| At 1/4/23 |  | in funds |  | 31/3/25 |

£ | £ | £ |

| Unrestricted funds

| General fund | 1,193,635 |  | (339,504 | ) | 854,131 |  |

| TOTAL FUNDS | 1,193,635 |  | (339,504 | ) | 854,131 |  |

| Springfield Charitable Developments |

| Limited |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

11. | MOVEMENT IN FUNDS - continued

| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Gains and |  | Movement |

| resources |  | expended |  | losses |  | in funds |

£ | £ | £ | £ |

| Unrestricted funds

| General fund | 87,361 |  | (314,135 | ) | (112,730 | ) | (339,504 | ) |

| TOTAL FUNDS | 87,361 |  | (314,135 | ) | (112,730 | ) | (339,504 | ) |

12. | RELATED PARTY DISCLOSURES

| The charity is connected to the charitable company Springfield Charitable Association Ltd (SCA) and shares common directors/trustees, as such it is treated as a related party with same. During the year the charity donated £149,000 to Springfield Charitable Association Ltd. The charity continues to rent some of its properties to Springfield Charitable Association Ltd with rental and service charge income from these properties totalling £30,960 in the current financial year. At the year end Springfield Charitable Association Ltd owes the charity £229,524.

| The charity has provided commitments to its related charitable company SCA to provide deficit funding as and when required in the 2025/26 financial year as SCA's is projected to require deficit funding to maintain its charitable activities. Subsequent to this year end the charity made donations to Springfield Charitable Association in support of these charitable activities.