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|Contents||Page|
|---|---|---|
|Trustees'<br>report|||
|Reference and administrative<br>details||16|
|Auditor's<br>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<br>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<br>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<br>on:|||||||||||
|Raising funds|||s||869,504||||869,504|922,835|
|Charitable<br>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|





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|||||a|~|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||~<br>~|||
|||||||2023|2023|2022|2022|
|||||Note||Group<br>f|Centre<br>f|Group<br>f|Centre<br>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<br>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<br>Funds||||13||6,100|6,100|15,730|15,730|
|Total funds||||||10,250,212|10,250,212|10,642,738|10,650,999|






||||||~<br>~||||||
|---|---|---|---|---|---|---|---|---|---|---|
|~<br>'I<br>~ l<br>~||||||~|I|I|||
||||||||||2023|2022|
||||||||||f|f|
|Net cash flow from operating<br>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<br>activities|||||||||(104,341)|(53,897)|
|Change<br>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<br>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<br>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|





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||||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<br>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|





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||||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|





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||||||||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<br>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<br>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<br>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|



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||Buildings|Furniture,|Computers|TOTAL FIXED|
|---|---|---|---|---|
|Group and Centre||Fixtures &||ASSETS|
|2023||Fittings|||
|Costs|||||
|At beginning<br>ofthe year|15,815,900|1,069,679|509,726|17,395,305|
|Additions<br>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<br>and amortisation|||||
|At beginning<br>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<br>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|





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|||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|



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|||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|





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||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<br>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|



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|||||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.<br>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|



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|The Movement of Fu|nds<br>is as follows:|||||
|---|---|---|---|---|---|
||Fund Balance||||Fund Balance|
|Group and Centre|1Oct 2022|Income|Expenditure|Transfers|30Sep 2023|
||f||f|f|f|
|General<br>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<br>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<br>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<br>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<br>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<br>Funds|||||6,100||6,100|
|Total Funds||9,644,965||183,534|509,354|(87,641)|10,250,212|





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|Group and Centre||||Other Fixed||Net Current|Long Term|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2022||Building||Assets||Assets|Liabilities|||Total||
|||||||E|f||f|||
|General<br>Fund||||||315,367<br>(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<br>Funds||||||15,730||||15,730||
|Total Funds|||10,172,206|124,172||437,762<br>(91,402)|||10,642,738|||
|14.<br>Comparative||Statement of Financial Activities||||||||||
|The Statement of|Financial||Activities for|the year ended||30September 2022 is shown||below, in order to|||provide|
|comparative<br>figures.||||||||||||
|||||~|~|||||||
||||||||Unrestricted|Restricted|||Total|
||||||||Funds||Funds||Funds|
||||||||2022||2022||2022|
||||||||f||f||f|
|Income and endowments|||from:|||||||||
|Donations<br>and legacies|||||||1,880,000||||1,880,000|
|Other trading activities|||||||508,269||||508,269|
|Interest income|||||||1,476||||1,476|
|Charitable<br>activities|||||||485,386||||485,386|
|Other income|||||||13,139||||13,139|
|Total income|||||||2,888,270||||2,888,270|
|Expenditure<br>on:||||||||||||
|Raising funds|||||||922,835||||922,835|
|Charitable<br>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||