2023-09-30-accounts

Contents		Page
Trustees' report
Reference and administrative details		16
Auditor's report to the members ofThe Goldsmiths'	Centre	18
Statement offinancial activities		22
Balance sheet		23
Statement ofcash flows		24
Notes to the financial statements		25

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				~	~
							~	I	I
				Unrestricted		Restricted			Total	Total
					Funds	Funds			Funds	Funds
					2023	2023			2023	2022
			Note		E	f			f	E
Income and endowments		from:
Donations and legacies					2,002,000				2,002,000	1,880,000
Other trading activities					674,952				674,952	508,269
interestincome					13,845				13,845	1,476
Charitable activities					539,042				539,042	485,386
Other income					10,077				10,077	13,139
Total income					3,239,916				3,239,916	2,888,270
Expenditure on:
Raising funds			s		869,504				869,504	922,835
Charitable activities			s		2,753,308	9,630			2,762,938	2,400,630
Total expenditure					3,622,812	9,630			3,632,442	3,323,465
Net expenditure	forthe year				(382,896)	(9,630)			(392,526)	(435,195)
Transfers
Total funds brought forward				10,627,008		15,730			10,642,738	11,077,933
Total funds carried forward				10,244,112		6,100			10,250,212	10,642,738

				a	~
							~ ~
						2023	2023	2022	2022
				Note		Group f	Centre f	Group f	Centre f
Fixed assets
Buildings				6		9,644,965	9,644,965	10,172,206	10,172,206
Other fixed assets				6		183,534	183,534	124,172	124,172
						9,828,499	9,828,499	10,296,378	10,296,378
Current assets
Debtors				7		204,180	147,385	181,001	162,430
Cash at bank						775,148	684,830	595,418	534,009
						979,328	832,215	776,419	696,439
Less:Creditors
(falling due in	less than		one year)
Creditors				8		469,974	322,861	338,657	250,416
Net current, assets						509,354	509,354	437,762	446,023
Total assets less		current liabilities				10,337,853	10,337,853	10,734,140	10,742,401
Less: Long-term		liabilities
(fa I I ing du e in	more tha n one year)
Provision for building			maintenance			87,641	87,641	91,402	91,402
Net assets						10,250,212	10,250,212	10,642,738	10,650,999
Represented	by:
Unrestricted	Funds			13		10,244,112	10,244,112	10,627,008	10,635,269
Restricted Funds				13		6,100	6,100	15,730	15,730
Total funds						10,250,212	10,250,212	10,642,738	10,650,999

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					~ ~
~ 'I ~ l ~						~	I	I
									2023	2022
									f	f
Net cash flow from operating activities									284,071	67,251
Cash flows from investing	activities:
Income from investments									13,845	1,476
Purchase offixed assets									(118,186)	(55,373)
Net cash from investing activities									(104,341)	(53,897)
Change in cash and cash equivalents			in the		year				179,730	13,354
Cash and cash equivalents	at the start: ofthe year								595,418	582,064
Cash and cash equivalents	at the end		ofthe		year				775,148	595,418
Reconciliation ofnet outgoing resources to					net cash outflow from
operating activities:
Net outgoing resources									(392,526)	(435,195)
Income from investments									(13,845)	(1,476)
Depreciation charge									586,065	606,981
Decrease in debtors									(23,179)	(27,715)
(Decrease)/increase	in creditors								131,317	(80,909)
(Decrease)/increase	in long-term			liabilities					(3,761)	5,565
Net cash flow from operating		activities							284,071	67,251
Analysis ofcash and cash equivalents
Cash at Bank									775,148	595,418
Analysis ofchanges in net	debt
Cash and cash equivalents	at the beginning				ofthe period				595,418	582,064
Cash flows									179,730	13,354
Cash and cash equivalents	at the end		of	the	period				775,148	595,418

			2023	2023	2022	2022
			Group	Centre	Group	Centre
			f	f	f	E
Unrestricted	operational	grant received	1,792,000	1,792,000	1,830,000	1,830,000
Unrestricted	capital grant received		210,000	210,000	50,000	50,000
Gift aid donations from CIC				97,759
TOTAL - Unrestricted			2,002,000	2,099,759	1,880,000	1,880,000

	2023	2023	2022	2022
	Group	Centre	Group	Centre
	e	f	f	f
Room Hire to third parties	323,564	19,450	282,334	18,928
Catering	302,284	919	176,831	2,391
Delivery ofactivities for related parties	49,104	9,104	49,104	9,104
TOTAL	674,952	29,473	508,269	30,423

			2023	2023	2022	2022
			Group	Centre	Group	Centre
			f	f	f	e
Letting of managed	workspace		362,987	362,987	316,173	316,173
Income from professional		training	136,927	131,186	134,209	128,160
Membership			39,128		35,004
TOTAL			539,042	494,173	485,386	444,333

							Depreciation			TOTAL 2023
2023				Direct Staff	Other Direct		and	Allocated	Support
				Costs		Costs	Amortisation	Costs	Costs
				f		E	f	f	f
Expenditure	on raising	funds
Events management				215,851		320,108	4,493	44,800	129,288	714,540
Cafe						11,192	71,333	63,335		145,860
Activities for others				9,104						9,104
				224,955		331,300	75,826	108,135	129,288	869,504
Expenditure	on charitable		activities - Unrestricted			Funds
Managed workspace				60,945		26,757	276,521	323,030	95,776	783,029
Professional	training			522,006		343,834	179,947	117,448	541,674	1,704,909
Membership	scheme			8,207		3,534			638	12,379
Trade and exhibition		grants		62,885		130,454			59,652	252,991
				654,043		504,579	456,468	440,478	697,740	2,753,30&
Expenditure	on charitable		activities - Restricted		Funds
Coat ofarms	project					9,630				9,630
						9,630				9,630
Governance	costs					25,353			(25,353)
Central support costs				300,168		993,339	53,771	(548,613)	(798,665)
Total expenditure				1,179,166		1,864,201	586,065		3,010	3,632,442

							Depreciation			TOTAL 2022
2022				Direct Staff	Other Direct		and	Allocated	Support
				Costs		Costs	Amortisation	Costs	Costs
				f		f	f	f	E
Expenditure	on raising	funds
Events management				257,257		239,396	6,932	30,594	231,521	765,700
Cafe				8,572		14,866	72,097	44,814	7,682	148,031
Activities for others				9,104						9,104
				274,933		254,262	79,029	75,408	239,203	922,835
Expenditure	on charitable		activities - Unrestricted			Funds
Managed workspace				66,935		27,926	279,480	223,876	59,737	657,954
Professional	training			474,482		365,657	179,853	81,835	408,102	1,509,929
Membership	scheme					4,501				4,501
Trade and exhibition		grants		47,891		133,391			42,694	223,976
				589,308		531,475	459,333	305,711	510,533	2,396,360
Expenditure	on charitable		activities - Restricted Funds
Coat ofarms	project					4,270				4,270
						4,270				4,270
Governance costs						24,342			(24,342)
Central support costs				196,032		841,862	68,619	(381,119)	(725,394)
Total expenditure				1,060,273	1,656,211		606,981			3,323,465

Grants to institutions	-Group and Centre	2023	2022
Trade and exhibition	grants
Bishopsl and		80,000
Contemporary British Silversmiths			23,133
Career Catalysts			19,998
Make Pivot		15,809
Scottish Goldsmiths	Trust	15,000	15,000
Global Majority Fund			15,000
Yorkshire Artspace			10,000
City and Guilds		10,000	10,000
Contemporary Jewellers		5,300	10,960
British Art Medal Society		6,345	7,600
Trade and exhibition	grants less than f10k		1,700
Artists in Residence		(2,000)	20,000
Total grants		130,454	113,391

			2023	2023	2022	2022
			Group	Centre	Group	Centre
			E	f	f	r.
Salaries			902,879	902,879	818,889	818,889
Social security costs			91,472	91,472	85,185	85,185
Pension costs			184,815	184,815	156,196	156,196
			1,179,166	1,179,166	1,060,270	1,060,270
Average	number ofemployees	in year	22	22	22
Staff paid over f60,000:
f90,000-	f120,000
f130,000	- f140,000
f140,000	- f160,000

		2023	2023	2022	2022
		Group	Centre	Group	Centre
			f	f	E
Professional fees (legal, audit &tax)		21,290	14,190	19,570	12,870
Trustees' travel &meeting expenses		773	773	1,490	1,490
Trustees' indemnity	insurance	3,290	3,290	3,282	3,282
TOTAL		25,353	18,253	24,342	17,642

	Buildings	Furniture,	Computers	TOTAL FIXED
Group and Centre		Fixtures &		ASSETS
2023		Fittings
Costs
At beginning ofthe year	15,815,900	1,069,679	509,726	17,395,305
Additions during the year		62,388	55,798	118,186
Disposals during the year
Total cost at end ofthe year	15,815,900	1,132,067	565,524	17,513,491
Depreciation and amortisation
At beginning ofthe year	5,643,694	1,014,543	440,690	7,098,927
Charge during the year	527,241	27,434	31,390	586,065
Disposals during the year
Total charge at end ofthe year	6,170,935	1,041,977	472,080	7,684,992
Net book value
At beginning ofthe year	10,172,206	55,136	69,036	10,296,378
At end ofthe year	9,644,965	90,090	93,444	9,828,499

		2023	2023	2022	2022
		Group	Centre	Group	Centre
		f	f	f	f
Trade debtors		111,644	12,951	69,894	7,817
Refund due for VAT				3,758	9,246
Accrued Income		5,159	2,353	14,416	3,754
Sundry debtors		7,598	7,598	11,280	10,052
Due from subsidiary			45,112		50,458
Due from the Goldsmiths'	Company			1,014	1,014
Prepayments		79,779	79,371	80,639	80,089
		204,180	147,385	181,001	162,430

		2023	2023	2022	2022
		Group	Centre	Group	Centre
		E	E	f	E
Trade creditors		42,074	41,691	40,436	35,871
Payment due for VAT		10,288	1,434
Sundry creditors and accruals		193,474	153,876	154,225	122,947
Due to the Goldsmiths'	Company	47,834	47,834	55,153	55,153
Social security and other taxes		26,104	26,104	23,594	23,594
Deferred income		110,200	11,922	60,549	8,151
Grants commitments		40,000	40,000	4,700	4,700
		469,974	322,861	338,657	250,416

		2023	2023	2022	2022
		Group	Centre	Group	Centre
		E	f	f	f
Brought	forward from prior period	60,549	8,151	49,832	12371
Released	in current period	(59,724)	(7,326)	(49,007)	(11,546)
Deferred	during the current period	109,375	11,097	59,724	7,326
Carried forward to future period		110,200	11,922	60,549	8,151

	2023	2023	2022	2022
	Group	Centre	Group	Centre
	f	f	f
Brought forward from prior period	4,700	4,700	49,300	49,300
Grants committed in current period	130,454	130,454	133,391	133,391
Grants paid in current period	(95,154)	(95,154)	(177,991)	(177,991)
Carried forward to future period	40,000	40,000	4,700	4,700

				2023	2023	2022	2022
				Group	Centre	Group	Centre
				E	f	f	f
Brought	forward	from	prior period	91,402	91,402	85,837	85,837
Released	in current period			(11,461)	(11,461)	(14,435)	(14,435)
Provided	during	the current period		7,700	7,700	20,000	20,000
Carried forward		to future period		87,641	87,641	91,402	91,402
10. Net income/expenditure
Net expenditure		for the	year is stated after	charging/(crediting):
				2023	2023	2022	2022
				Group	Centre	Group	Centre
				f	f	f	f
Auditors'	remuneration		for audit	18,675	14,150	16,995	12,870
Auditors'	remuneration		forother services	2,615	40	2,575
Depreciation				586,065	586,065	606,981	606,981

The Movement of Fu	nds is as follows:
	Fund Balance				Fund Balance
Group and Centre	1Oct 2022	Income	Expenditure	Transfers	30Sep 2023
	f		f	f	f
General Fund	223,965	3,239,916	3,622,812	378,487	219,556
Legacy Fund	38,260			(2,422)	35,838
Building Fund	10,172,206			(527,241)	9,644,965
Fixed Asset Fund	192,577			151,176	343,753
Restricted Funds	15,730		9,630		6,100
Total Funds	10,642,738	3,239,916	3,632,442		10,250,212
	Fund Balance				Fund Balance
Group and Centre	1Oct 2021	Income	Expenditure	Transfers	30Sep 2022
	E			f	f
General Fund	96,169	2,888,270	3,319,195	558,721	223,965
Legacy Fund	40,000			(1,740)	38,260
Building Fund	10,699,854			(527,648)	10172206
Fixed Asset Fund	222,910			(30,333)	192,577
Restricted Funds	19,000		4,270	1,000	15,730
Total Funds	11,077,933	2,888,270	3,323,465		10,642,738

Group and Centre			Other	Fixed	Net Current	Long Term
2023	Building		Assets		Assets	Liabilities	Total
					f
General Fund					307,197	(87,641)	219,556
Legacy Fund					35,838		35,838
Building Fund		9,644,965					9,644,965
Fixed Asset Fund				183,534	160,219		343,753
Restricted Funds					6,100		6,100
Total Funds		9,644,965		183,534	509,354	(87,641)	10,250,212

Group and Centre				Other Fixed		Net Current	Long Term
2022		Building		Assets		Assets	Liabilities			Total
						E	f		f
General Fund						315,367 (91,402)			223,965
Legacy Fund						38,260				38,260
Building Fund			10,172,206						10,172,206
Fixed Asset Fund				124,172		68,405			192,577
Restricted Funds						15,730				15,730
Total Funds			10,172,206	124,172		437,762 (91,402)			10,642,738
14. Comparative		Statement of Financial Activities
The Statement of	Financial		Activities for	the year ended		30September 2022 is shown		below, in order to			provide
comparative figures.
				~	~
							Unrestricted	Restricted			Total
							Funds		Funds		Funds
							2022		2022		2022
							f		f		f
Income and endowments			from:
Donations and legacies							1,880,000				1,880,000
Other trading activities							508,269				508,269
Interest income							1,476				1,476
Charitable activities							485,386				485,386
Other income							13,139				13,139
Total income							2,888,270				2,888,270
Expenditure on:
Raising funds							922,835				922,835
Charitable activities							2,396,360		4,270		2,400,630
Total expenditure							3,319,195		4,270		3,323,465
Net expenditure	for	the	year				(430,925)		(4,270)		(435,195)
Transfers							(1,000)		1,000
Total funds brought		forward					11,058,933		19,000	11,077,933
Total funds carried forward							10,627,008		15,730	10,642,738