THE GOLDCREST FOUNDATION REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Charity No. 1089085 THE GOLDCREST FOUNDATION Annual Re rtforthe ear ended 31 March 2024 The Goldcrest Foundation is constituted by Deed of Trust and is a registered charity No. 1089085. Its address is 3 Hardman Street, 1 st Floor, Spinningfields Manchester M3 3HF. The charity trustees during the year to 31 March 2024 were:_ Mr Darshan Lal Chawla Mr Ravinder Chawla Mr Kulvinder Chawla Mrs Ranjit Chawla The object of the Charity is to provide.. 1) Aid to those in immediate need as a result of natural disaster(s) 2) Aid towards the maintenance refurbishment and rebuilding of Sikh and Hindu temples. The relief of financial hardship. 3) The unspent reserves at 31 March 2024 were £1,107,294. The trustees envisage these will be utilised in the near future by donating to worthy charitable causes. Bc& Darshan Lal Chawla Chairman On behalf of the Board 11 . October 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GOLDCREST FOUNDATION I report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 3 to 4. RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER The charities trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to- a) examine the accounts under section 145 of the 2011 Act FOR THE YEAR ENDED 31 MARCH 2023 Commission under section 145(5) (b) of the 2011 Act., and c) to state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was Carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from you as Trustees conceming any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view and the report is limited those matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention.. 1) Which give me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the 2011 Act. and to prepare accounts which accord with the accounting records and cornply with the accounting requirements of the 2011 Act have not been met., or To which, in my opinion, attention should be drawn in order to enable a per understanding of the accounts to be reached. b) 2) Devshi Chothani FCA DBF ASSOCIATES Chartered Accountants 10 Park Place Manchester M4 4EY ?? October 2024 THE GOLDCREST FOUNDATIION STATEMENT OF FINANCIAL ACTIVITIES 2024 2023 Incoming Resources Donations Investment Income Total Incoming Resources 102,500 37,386 139,886 102.500 129,900 FOR THE YEAR ENDED 31 MARCH 2024 Charitable Resources Expended Donations to Charities Bank charges Net Incoming ReSoUr￿S 15,000 24 124,862 28,000 15 101,885 Funds Blfwd 31 March 2023 Funds C￿d 31 March 2024 124,862 101885 Balance Sheet as at 31 March 2024 2024 2023 Notes CURRENT ASSETS Cash at Current Account Cash at Deposit Account Other debtors Loan to Goldcrest Distributs'on Ltd Loan to Goldcrest Finan￿ Ltd Net Assets 11,192 15.416 265,000 691,516 139,586 1,107 294 162,500 669,516 135000 982,432 FUNDS General purpose funds 1107,294 982 432 THE GOLDCREST FOUNDATION 1) Accounting Policies These accounts have been prepared under the Historical Cost Convention and in accordance with applicable accounting standards and the Charities SORP. 2) Trustees. Remuneration and Expenses No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year to any trustees or to any person or persons known to be connected with any of them.