Springfield Charitable Association Limited
Latest income
£635k
Latest spending
—
Accounts read
FY2025
Financial health, per FY2025 accounts
The accounts state that the charity reported an operating surplus of £8,516 for the year ended 31 March 2025, with total unrestricted net assets increasing to £1,062,236. However, the trustees note that incoming resources remain significantly below expenditure in the forecast, creating a dependency on deficit funding support from a related party to maintain viability.
What the accounts disclose
Going concern: doubt noted
“The charity is predicting its income in the forthcoming year will remain significantly below expenditure. The charity is forecasting that in the coming financial year it will require financial support. Anticipating this need it has sought and received assurances from its related charitable party, Springfield Charitable Developments Limited that when deficit funding is required it will be made available to the charity.” — page 17
Per FY2025 accounts as filed with CCNI.
Related-party transaction: SCD made a donation to the SCA of £149,000.
“During the year SCD made a donation to the SCA of £149,000. Subsequent to the year end Springfield Charitable Developments Ltd has made donations to the charity to provide deficit funding support.”
Per FY2025 accounts as filed with CCNI.
Related-party transaction: SCA paid rent of £30,960 to SCD for property occupation.
“During the year SCD made a donation to the SCA of £149,000. Subsequent to the year end Springfield Charitable Developments Ltd has made donations to the charity to provide deficit funding support.”
Per FY2025 accounts as filed with CCNI.
Employees paid over £60,000: 0
Per FY2025 accounts as filed with CCNI.
Reserves policy: three months operating costs (held: £1.1m)
“it is the aim of the charity to hold free reserves which equate to three months operating costs.” — page 5
Per FY2025 accounts as filed with CCNI.
Independent examiner: M.B.Mc Grady & Co
Per FY2025 accounts as filed with CCNI.