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← The Goldsmiths Centre

2025-09-30-accounts

CENTRE bd GOLDSMITHS’ Creativity | Craftsmanship | Community

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

For the year ended 30 September 2025

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Company Number: 6288800 Charity Number: 1120113

THE GOLDSMITHS’ CENTRE

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

For the year ended 30 September 2025

Contents Page
Trustees’ report 3
Company information 10
Auditor’s reporttothe members ofThe Goldsmiths’ Centre 12
Statement offinancial activities 16
Balance sheet 17
Statement ofcash flows 18
Notestothefinancialstatements 19

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The Goldsmiths’ Centre Year ended 30 September 2025 COMPANY INFORMATION

INTRODUCTION

The Trustees of the Goldsmiths’ Centre (the Centre) are pleased to present their report and accounts for the year ended 30" September 2025, including an overview of charitable activity and public benefit achieved.

These accounts comply with the charity’s governing documents, the Companies Act 2006, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities SORP (FRS 102).

The Goldsmiths’ Centre charity was established by the Worshipful Company of Goldsmiths, more commonly known as the Goldsmiths’ Company, in 2007. Between 2009 and 2011 the Trustees of the Centre led the redevelopment of the Goldsmiths’ Centre site in Clerkenwell, creating a mixed-use development of workshops, studios, education and training space for the public benefit.

Since practical completion of the site in 2012, the Trustees have been pursuing a programme of public benefit that has included education, training and exhibitions, the provision of managed workspace and commercial activities that support the work of the Centre. An increasing focus on expanding both its reach and impact has resulted in the Centre working closely with partners and projects across the UK, through collaborative funding and grant giving where applicable.

2024/25 has seen several significant events and changes, notably the creation by the Goldsmiths’ Company of the Goldsmiths’ Foundation ("the Foundation”) as the successor to the Goldsmiths’ Charity. This is significant as the Charity has always been the principal funder of the Centre through its annual grant. Following this change, the Trustees of the Centre have jointly commissioned with the Trustees of the Foundation, a Strategic Review of the Centre. The outcome of this review is due to be reported in the Spring of 2026.

In addition, a decision has been taken by the Foundation to bring in-house from 1 April 2026, the collaborative grant giving which, since 2017, has been the responsibility of the Centre. The Centre is working closely with the Foundation to ensure a smooth and effective transition for our charitable partners.

Operationally during this reporting period, the capital works on the Centre’s mechanical and engineering (M&E) systems commenced, with Scope 1 being completed. This included the updating of the Business Management System (BMS) and ventilation system. The more extensive works specified in Scope 2 are on course for a Spring 2026 start as previously reported.

Finally, turning to key personnel, Peter Taylor, the Centre Director, who returned part-time during the year, announced in September 2025 his intention to retire in February 2026. Over the last 24 years he has served both the Goldsmiths’ Company and the Goldsmiths’ Centre - first as the Company’s inaugural Director of Technology and Training, and since 2011 as the founding Director of the Goldsmiths’ Centre. Under his leadership, the Centre has grown significantly, delivering on its mission to safeguard and develop the skills of the jewellery, silversmithing, and allied industries, while inspiring the next generation of craftspeople and businesses to make lifelong learning central to their practice.

The recruitment of Peter Taylor’s successor is underway, and, in the meantime, an Interim Director has been appointed with effect from February 2026.

PUBLIC BENEFIT

In setting the objectives and planning the activities of the Goldsmiths’ Centre, the Trustees have considered the Charity Commission’s general guidance on public benefit, and particularly its supplementary guidance on advancing education. The overarching objective of the Centre is:

To advance, maintain and develop art, craft, design and artisan skills, including in particular, but without limitation, those pertaining to goldsmithing, through:

  1. the provision of managed workspace, education and training for the public benefit; and 2. the fostering, promotion and expansionofthe interest of the public in art, craft, design and artisan skills, particularly, but not exclusively, those pertaining to goldsmithing.

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The Goldsmiths’ Centre

Year ended 30 September 2025 COMPANY INFORMATION

The Trustees are particularly keen to ensure that the public benefits accrued from the activities delivered onsite are disseminated as widely as possible. To this end, the Centre contributes to the work of several other organisations, providing access to content, methodologies, resources, and funding where appropriate.

PERFORMANCE & ACHIEVEMENTS

Since 2012, the Centre has been the delivery arm of its founder and main funder the Goldsmiths’ Foundation (previously the Goldsmiths’ Company Charity), helping to shape hundreds of careers through technical courses, business support, affordable workspace, funding opportunities, exhibitions, events and selling showcases. In May 2025 the Centre published its second annual Impact Report for the 2023/24 financial year. The Impact Report is aimed at:

This report provides an accessible and compelling summary of the Centre’s charitable work. It is a key medium for sharing its mission and impact on its community and the jewellery industry and is available on the Centre’s website (https://www.goldsmiths-centre.org/about-us/our-impact/) complementing the Centre’s Statutory Reporting.

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The Goldsmiths’ Centre

Year ended 30 September 2025 COMPANY INFORMATION

2024/25 Objectives

The Corporate Plan presented to the Trustees in July 2024 built on the fundamentals of the Centre’s operations, identifying six substantial projects as key priorities:

CHARITABLE & OTHER ACTIVITIES UNDERTAKEN

Performance Against Internal Objectives

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The Goldsmiths’ Centre Year ended 30 September 2025 COMPANY INFORMATION

Factors that impact the ability to achieve the Centre’s objectives The principal factor that affects the ability of the Centre to achieve its objectives is the affordability of the planned outputs, taking account of the likely level of income. The Trustees are pleased to report that prudent management and the reallocation of budgets, combined with the continued support of the Goldsmiths’ Company and Foundation, have allowed the Centre to meet its key objectives for the year.

Communicating with Staff

The Centre Director liaises with staff through regular Senior Management and team meetings. Business and strategic planning are informed by the staff and are undertaken as a consultative process wherever possible. The size of the Centre means that one to one contact takes place on a regular basis.

STRUCTURE, GOVERNANCE, MANAGEMENT & RISK

Trustee Selection and Training

The Centre aims to maintain a Board that reflects its activities and purpose. The Board continues to monitor its composition to ensure that it remains fit for purpose and is effective, including maintaining a register of the Trustees’ skills and expertise relative to the needs of the Board.

New Trustees are briefed by the Chair of Trustees and the Centre Director, and are issued with a pack of appropriate documents by the Secretary, including the Charity Governance Code, as well as the following Charity Commission guidance:

It is intended that at least two of the Trustees are always from outside the Goldsmiths’ Company’s Court of Assistants. At the reporting date the Trustees who were not members ofthe Goldsmiths’ Company’s Court of Assistants were Mrs G.R. Andrews, Ms R. Lakha, Ms A.C.F. Slinger and Mr A. Monroe.

Governance & Management

The Trustees who served during the period who are also members of the Court of Assistants of the Goldsmiths’ Company (Mr A.P.A. Drysdale, Mr M.J. Wainwright, and MrJ. Skeates), did not participate in any decisions of the Court with regard to the Company’s involvement with the Centre. Over the reporting period no Trustees were appointed to or resigned from the Board.

The Trustees meet formally on a quarterly basis and on an ad hoc basis if required. Some decisions are taken outwith the Board by “Chair’s Action” where the views of the Board are canvassed by email or telephone and a collective decision arrived at. These decisions are recorded in subsequent Trustee Board Minutes.

The Trustees delegate oversight of the Centre’s educational and grant-making activities to the Trade Advisory Sub-Committee (TASC). The TASC is chaired by a Trustee and has Trustees as members, as well as individuals drawn from outside the Goldsmiths’ Company, who bring their knowledge and experience of the sector, education and training. The TASC provides oversight of the Centre’s core education and training programmes, reviews and approves, within its delegated authority, Collaborative Funding applications, and contributes to the development of policy and strategy linked to delivery against the Centre’s public benefit.

The TASC convenes working groups to explore topics or areas under consideration/development. These are chaired by a Trustee and draw their membership from across the sector and the Centre’s existing audience and beneficiaries.

On a day-to-day basis the Trustees delegate operational management of the Centre to its Director and Deputy Director. The Directors and the team are responsible for delivering against the Centre’s Strategy and annual Corporate Plan.

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The Goldsmiths’ Centre Year ended 30 September 2025 COMPANY INFORMATION

Fundraising

The Trustees take seriously their responsibilities under the Charities (Protection and Social Investment) Act 2016 and have considered the implications on their fundraising activities. The Centre does not raise funds directly from the general public and does not receive commercial sponsorship. The Trustees are not aware of any complaints made in respect of fundraising during the year.

Risk Assessment & Mitigation

The Trustees consider the risks that pertain to the operation of the Centre via an annual Strategic & Operational Risk Register, monitored quarterly by the team and reviewed by the Trustees on an annual basis. These risks can be summarised as follows:

The Trustees are satisfied that systems and procedures are in place to mitigate the above risks effectively and that these are well understood.

FINANCIAL REVIEW & POLICY STATEMENT

Income and Expenditure Review

These financial statements consolidate the results and combined financial position of the Centre and its wholly owned trading subsidiary, the Goldsmiths’ Centre Events CIC (Events CIC).

During the year, total income amounted to £3.38m including support grants of £2.21m provided by the Goldsmiths’ Foundation; income from trading activities, mainly through the Events CIC, of £0.59m; and income from charitable activities of £0.57m. In the previous year the equivalent figures were total income of £3.38m including support grants of £2.07m; income from trading activities of £0.66m; and income from charitable activities of £0.63m.

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The Goldsmiths’ Centre Year ended 30 September 2025 COMPANY INFORMATION

Total expenditure for the year was £3.82m compared to £3.80m in the previous year, including the operating costs of the Events CIC, and the costs of supporting the charitable and other activities, inclusive of the governance costs of the Centre. The net result for the year is a reduction in funds of £0.44m compared to a reduction of £0.43m in the previous year. The net cash outflow for the year was £0.24m compared to an inflow of £0.03m in the prior year.

Reserves

Unrestricted Funds are split between several designated funds being a Building Fund, representing the net capital cost of the building after deducting depreciation; a Fixed Asset Fund, representing the net cost of other fixed assets after deducting depreciation and adjusting for any capital grants received and not yet spent; a Legacy Fund and a General Fund. The Building and Fixed Asset Funds are maintained by transfers to and from the General Fund so that they are maintained at a level equal to the capitalised value of work to date less the depreciation charge, adjusted for any grants which are intended to be spent on capital projects.

The Unrestricted Funds at 30 September 2025 were £9.4m (2024 — £9.8m) made up ofthe Building Fund of £8.59m (2024 — £9.12m), the Fixed Asset Fund £0.49m (2024 — £0.36m), the Legacy Fund of £0.03m (2024 — £0.04m} and the general fund of £0.28m (2024 — £0.31m).

The Trustees have set a policy as to the level of free reserves, not represented by fixed and other non-liquid assets, required to cover an unforeseen emergency or other unexpected need for funds. The policy includes

consideration of possible shortfalls in Events income and the likelihood and amount of any unforeseen expenditure. In light of these factors and the support from the Goldsmiths’ Foundation, the Trustees consider an adequate level of free reserves at the year-end to be in the range of £125k to £175k.

At 30 September 2025, free reserves were £275k which is £100k above the upper limit of the target range (2024 — free reserves £309k, £134K above target). The Trustees expect to use some reserves in the current year to fund ongoing operations.

The Centre’s activities have been supported since inception by an annual grant from the Goldsmiths’ Foundation (previously named the Goldsmiths’ Company Charity). The Trustees have received a letter from the Chairman of the Goldsmiths’ Foundation (the successor to the Goldsmiths’ Charity) confirming its support for the Centre for at least 12 months from the date of signing of these accounts. Having reviewed the financial performance of the Centre and in view of the letter of support, these financial statements have been prepared ona going concern basis. The Trustees currently have no reason to believe that the Goldsmiths’ Foundation will be unwilling or unable to provide this support. As such the Trustees confirm that the Centre expects to be able to meet its current and foreseeable obligations.

PLANS FOR FUTURE PERIODS

The plans for future periods are to:

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The Goldsmiths’ Centre Year ended 30 September 2025 COMPANY INFORMATION

TRUSTEES’ RESPONSIBILITIES IN RESPECT OF THE TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law, and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}.

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Centre and the Group (comprising the Centre and its trading subsidiary, the Goldsmiths’ Centre Events CIC, company number 8345467) and of the incoming resources and application of resources of the Centre and the Group for that period.

In preparing these financial statements, the Trustees are required to:

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

The Trustees are responsible for the maintenance and integrity of the Centre and the Group and financial information included on the Centre’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees who held office at the date of approval of the Trustees’ Report confirm that, so far as they are aware, there is no relevant audit information of which the Centre’s auditor is unaware. Furthermore, the Trustees are ofthe view[that,] under[ their] delegated[authority,] the members[of] the[Centre’s][staff] have taken[all] steps that they ought to have taken as management to make themselves aware of any relevant audit information, and to establish that the Centre’s auditor is aware of[that][information.]

Pursuant to Section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed and Saffery LLP will therefore continue in office.

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This report has been prepared in accordance with the provisions applicable to companies subject to the small
companies regime within Part 15 of the Companies Act 2006.
These financial statements were approved by
signed on thelr behalf by: the Trustees on OS February 27S and are
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Mr M. J. Wainwright
Chairman of [the] [Board] [of][ Trustees]
The Goldsmiths’ Centre
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The Goldsmiths’ Centre Year ended 30 September 2025 COMPANY INFORMATION

Charitable Company Name: The Goldsmiths’ Centre

The Goldsmiths’ Centre was incorporated as a company limited by guarantee on 21 June 2007 and registered as a Charity on 17 July 2007. The governing document is the Memorandum and Articles of Association of the Company, and members ofthe Board of Trustees are the Directors of the Company (under Company Law).

Charity Registration Number: 1120113 Company Registration Number: 6288800

Trustees: The Board of Trustees comprises:

Mr M.J. Wainwright

Mrs G.R. Andrews

Mr A.P.A. Drysdale

Ms R. Lakha

Mr A. Monroe

Mr J. Skeates

Ms A.C.F. Slinger

Mrs T. Pragash Secretary

The Trustees may be contacted care of the Goldsmiths’ Company, Goldsmiths’ Hall, Foster Lane, London EC2V 6BN.

Staff to whom the Trustees delegate day to day management of the Centre:

Mr P.J. Taylor MBE FCG! Director, Goldsmiths’ Centre Ms K. Lepeuple Deputy Director, Goldsmiths’ Centre

Registered Office Details:

Address: The Goldsmiths’ Centre Care of: The Goldsmiths’ Company, Goldsmiths’ Hall, Foster Lane, London EC2V 6BN Telephone Number: 020 7606 7010 E-mail: info@goldsmiths-centre.org Website: www.goldsmiths-centre.org

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The Goldsmiths’ Centre Year ended 30 September 2025 COMPANY INFORMATION

Professional Advisers:

Charity Solicitor: Broadfield Law UK LLP 1 Bartholomew Close, London EC1A 7BL Property Solicitor: Taylor Wessing 5 New St Square, London EC4A 3TW Bankers: The Royal Bank of Scotland plc Barclays Bank ple St. Paul’s Branch 1 Churchill Place 9-13 Paternoster Row London E14 5HP London EC4M 7EH

Independent auditor: Saffery LLP 71 Queen Victoria Street London EC4V 4BE

1]

The Goldsmiths’ Centre Year ended 30 September 2025 INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE GOLDSMITHS’ CENTRE

Opinion

We have audited the financial statements of The Goldsmiths’ Centre (the ‘parent charitable company’) and its subsidiary (together the ‘Group’) for the year ended 30 September 2025 which comprise the Consolidated Statement of Financial Activities, the Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent ofthe Group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the

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The Goldsmiths’ Centre Year ended 30 September 2025 INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE GOLDSMITHS’ CENTRE

financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Other matters prescribed by the Companies Act 2006

{n our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 9, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Group and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the Group and parent charitable company’s financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is

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The Goldsmiths’ Centre Year ended 30 September 2025 INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE GOLDSMITHS’ CENTRE

not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the Group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with management, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the Group and parent charitable company by discussions with management, and updating our understanding of[the] sector in which the Group and parent charitable company operate.

Laws and regulations of direct significance in the context of the Group and parent charitable company include the Companies Act 2006 and guidance issued by the Charity Commission for England and Wales.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or had knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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The Goldsmiths’ Centre Year ended 30 September 2025 INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE GOLDSMITHS’ CENTRE

Use of our report

This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Helen Wilkie (Senior Statutory Auditor) For and on behalf of Saffery LLP

Statutory Auditors

71 Queen Victoria Street London EC4V 4BE

Date OS February 222&

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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The Goldsmiths’ Centre

Year ended 30 September 2025

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including the income and expenditure account)

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|||||||| |---|---|---|---|---|---|---| |Sas|hae|a|ee|THE GOLDSMITHS'|CENTRE||| |»|GONSOLIDATED STATEMENT OF|FINANCIAL|ACTIVITIES|FOR THE YEAR ENDED|30|SEPTEMBER 2025| |Peak|eae|“(INCLUDING THE INCOME AND|EXPENDITURE ACCOUNT)||| |Unrestricted|Total|Total| |Funds|Funds|Funds| |2025|2025|2024.| |Note|£|£|£| |Income|and|endowments|from:| |Donations|and|legacies|3|2,205,573|2,205,573|2,070,772| |Other trading|activities|4|585,115|585,115|658,005| |Interest|income|8,504|8,504|16,034| |Charitable|activities|5|571,952|571,952|629,638| |Other income|9,739|9,739|3,000| |Total|income|3,380,883|3,380,883|3,377,449| |Expenditure|on:| |Raising funds|6|910,416|910,416|966,875| |Charitable|activities|6|2,907,920|2,907,920|2,837,584| |Total|expenditure|3,818,336|3,818,336|3,804,459| |Net|expenditure|for the|year|(437,453)|(437,453)|(427,010)| |Total|funds|brought forward|9,823,202|9,823,202|10,250,212| |Total|funds|carried forward|9,385,749|9,385,749|9,823,202|

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No activity has been acquired or discontinued in the period. The Group has no other comprehensive income other than the net movement in funds for the period. The notes on pages 19 to 30 form an integral part of these financial statements.

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The Goldsmiths’ Centre Year ended 30 September 2025

BALANCE SHEET

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|||||||||| |---|---|---|---|---|---|---|---|---| |peat|eee|To|THE GOLDSMITHS|CENTRE|;|aver|aaa| |eer|BALANCE SHEET|AT 30 SEPTEMBER 2025| |2025|2025|2024|2024| |Group|Centre|Group|Centre| |Note|£|£|£|£| |Fixed|assets| |Buildings|7|8,592,787|8,592,787|9,118,876|9,118,876| |Other fixed|assets|7|451,719|451,719|344,295|344,295| |9,044,506|9,044,506|9,463,171|9,463,171| |Current|assets| |Debtors|8|214,109|142,803|199,565|286,772| |Cash|at|bank|565,815|536,492|805,501|576,012| |779,924|679,295|1,005,066|862,784| |Less:|Creditors| |(falling|due|in|less|than|one|year)| |Creditors|9|438,681|338,052|561,931|419,649| |Net current assets|341,243|341,243|443,135|443,135| |Total|assets|less|current|liabilities|9,385,749|9,385,749|9,906,306|9,906,306| |Less:|Long-term|liabilities| |(falling|due|in|more|than|one|year)| |Provision|for|building|maintenance|10|-|.|83,104|83,104| |Net|assets|9,385,749|9,385,749|9,823,202|9,823,202| |Represented|by:| |Unrestricted|Funds|14|9,385,749|9,385,749|9,823,202|9,823,202| |Total funds|"9,385,749|9,385,749|9,823,202|_9,823,202|

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Company No: 6288800, Charity No: 1120113

The net expenditure of the Centre as an individual entity for the year was £437,453 (2024 — £427,007). A Statement of Financial Activities for the Centre as an individual entity is not included using the exemption provided in section 408 of the Companies Act 2006.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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Th se financial statements were approved by the\Trustees on oS Feoruory 226 and are signed on
heir bel alf by:
M. J| Wainwright -RAndrews
4
\ \
The wi pages 19 to 30 form an integral part of these financial statements.
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The Goldsmiths’ Centre

Year ended 30 September 2025 CONSOLIDATED STATEMENT OF CASH FLOWS

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Parte|Sea|ote|ee|THE GOLDSMITHS|CENTRE| |||CONSOLIDATED STATEMENT OF CASH|FLOW|STATEMENT|FOR THE YEAR ENDED 30 SEPTEMBER 2025||| |2025|2024| |£|£| |Net|cash|flow from|operating|activities|(59,469)|247,595| |Cash|flows|from|investing|activities:| |Income|from|investments|8,504|16,034| |Purchase|of fixed|assets|(188,721)|(233,276)| |Net|cash|used|in|investing|activities|(180,217)|(217,242)| |Change|in|cash|and|cash|equivalents|in the|year|(239,686)|30,353| |Cash|and|cash|equivalents|at the|start|of the|year|805,501|775,148| |Cash|and|cash|equivalents|at the|end|of the|year|565,815|805,501| |Reconciliation|of|net outgoing|resources|to|net|cash|outflow from| |operating|activities:| |Net|outgoing|resources|(437,453)|(427,010)| |Income|from|investments|(8,504)|(16,034)| |Depreciation|charge|607,386|598,604| |(Increase)/decrease|in|debtors|(14,544)|4,615| |(Decrease)/increase|in|creditors|(151,615)|91,957| |(Decrease)/increase|in|long-term|liabilities|(54,739)|(4,537)| |Net|cash|flow from|operating|activities|(59,469)|247,595| |Analysis|of cash|and|cash|equivalents| |Cash|at|Bank|565,815|805,501| |Analysis|of changes|in|net debt| |Cash|and|cash|equivalents|at the|beginning|of the|period|805,501|775,148| |Cash|flows|(239,686)|30,353| |Cash|and|cash|equivalents|at the|end|of the|period|565,815|805,501|

----- End of picture text -----

The notes on pages 19 to 30 form an integral part of these financial statements.

18

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

  1. Charity Information

The Centre is a company limited by guarantee (registered number 6288800) and a registered charity (registered number 1120113), which is incorporated and domiciled in England and Wales, and is a public benefit entity. The registered office is Goldsmiths’ Hall, Foster Lane, London, EC2V 6BN.

  1. Accounting policies

  2. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.

  3. {a) These financial statements have been prepared in accordance with “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”), “Accounting and Reporting by Charities” being the Statement of Recommended Practice for charities applying FRS102, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The Centre is a Public Benefit Entity as defined by FRS102.

The financial statements are prepared in sterling, which is the functional currency of the Group. Monetary amounts in these financial statements are rounded to the nearest pound. These financial statements consolidate the results and combined financial position of the Centre and its subsidiary, The Goldsmiths’ Centre Events CIC, (together the Group) on a line by line basis. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The Charity and Group have different types of funds.

(ii) Designated funds - These are unrestricted funds that the Trustees have agreed to set aside for a specific, designated purpose. The designation is not legally binding and the Trustees have the discretion to remove the designation.

(iii) Restricted funds - These funds are subject to specific restrictions imposed by the donors of the funds.

(c) Going concern After reviewing the Centre’s forecasts and projections, the Trustees have a reasonable expectation that the Centre has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future, being a period of at least a year from the date these accounts are signed. The Trustees consider that there are no material uncertainties about the Centre’s ability to continue as a going concern. Accordingly, the Trustees consider that the Centre is a going concern, and the accounts have been prepared on that basis. This is supported by the letter of support from the Goldsmiths’ Foundation dated 17 December 2025 confirming its intention to continue to provide financial and other support to the Centre for at least 12 months from the date of signing these accounts. The Trustees currently have no reason to believe that the Goldsmiths’ Foundation will not be in a position to provide this support.

Income and expenditure is brought into account when receivable or payable.

Donations and legacies are generally recognised when received or paid. Government grants are recognised on entitlement. Room hire and catering income and expenditure are recognised

19

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

in the period the event occurs. Related parties’ income is recognised in the period the work is performed. Income and expenditure related to the letting of managed workspaces is recognised in the period the workspace is occupied. Income and expenditure related to training is recognised in the period the training occurs.

Income received and not yet earned relating to future events is shown in deferred income within creditors.

(e) Support & governance costs Support costs, which are made up of employment, facilities and general management, and amortisation and depreciation costs, have been apportioned across the activities, except to the extent that they involve the strategic management of the Group where they are shown under governance costs.

Governance costs comprise all costs involving the public accountability of the Group and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees and trustee indemnity insurance.

(f) Capitalisation and depreciation of building The Centre’s building is included in the financial statements at the cost incurred to date less accumulated depreciation.

Depreciation commenced on taking possession of the building from the contractors at practical completion on 3 February 2012 and is calculated on a straight-line basis over 30 years. Plant additions are depreciated on a straight-line basis over 7 years.

(g) Capitalisation and depreciation of other assets Other assets expected to be in use for more than one year and with a cost in excess of £5,000 are capitalised. Depreciation of other assets is calculated on a straight-line basis to write down the assets over their useful life: Furniture, fixtures & fittings 4 years Computers 4 years Leasehold improvements 10 years

(h) Taxation — direct and indirect The Centre is exempt from direct taxation on its income and gains to the extent that they are applied exclusively to charitable activities. The CIC is liable to direct taxation on its income and gains. The CIC pays any taxable profits up to the Centre under a deed of covenant.

The Group is registered for Valued Added Tax. Irrecoverable VAT is written off as incurred.

(i) Provisions The Centre is expected to maintain its building for the benefit of all users. A provision for building maintenance is recognised based on expected spend for cyclical, non-routine maintenance of the building including an element for unexpected maintenance. This is now included in other creditors.

(j) Critical accounting estimates and judgements In the application of the Group’s accounting policies, the Trustees are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

20

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

The Trustees consider that there are no critical estimates and judgements affecting these financial statements. The Trustees do not consider that there is a significant risk of a material adjustment being made to the carrying amounts of assets and liabilities included in these financial statements within the next financial year.

(k)

Pension costs

The Centre operates a defined contribution scheme on behalf of its employees. The assets are held in separately administered funds. Costs are charged to the statement of financial activities in the period to which they relate.

(I) Financial instruments

Basic financial instruments are measured at amortised cost. The Group has no other financial instruments or basic financial instruments measured at fair value.

  1. Donations and legacies
2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Grant received from the Goldsmiths' Foundation 2,205,574 2,205,574 2,070,772 2,070,773
Gift aid donations from CIC - 19,925 - 79,745
TOTAL - Unrestricted 2,205,574 2,225,499 2,070,772 2,150,518
4.
Income from othertrading activities
2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Room Hire to third parties 246,822 900 296,287 26,977
Catering 257,232 7,577 303,614 5,097
Delivery ofactivities for related parties 81,061 27,027 58,104 9,104
TOTAL 585,115 35,504 658,005 41,178
5.
Income from charitable activities
2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Lettingofmanaged workspace 389,482 389,482 412,318 412,318
Income from professional training 126,704 126,704 165,267 165,267
Membership 55,766 . 52,053 -
TOTAL 571,952 516,186 629,638 577,585

4. Income from other trading activities

5. Income from charitable activities

21

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

6. Expenditure

(a) Allocation of costs

2025 DirectStaff
Costs		 OtherDirect
Costs		 Depreciation
=P
.
og
Amortisation		 Allocated
Costs		 Support
Costs		 TOTAL
2025
£ £ £ £ £ £
Expenditure on raisingfunds
Events management 242,517 291,467 749 45,480 142,644 722,857
Café 11,464 8,907 74,857 65,304 - 160,532
Activities forothers 27,027 - - - - 27,027
281,008 300,374 75,606 110,784 142,644 910,416
Expenditure on charitable activities - Unrestricted Funds
Managed workspace 51,196 21,317 290,179 330,218 73,778 766,688
Professional training 604,028 384,560 188,647 120,281 538,109 1,835,625
Membership scheme 34,583 2,632 - - 29,197 66,412
Trade and exhibition grants 66,129 118,146 - - 54,920 239,195
755,936 526,655 478,826 450,499 696,004 2,907,920
Governance costs - 31,160 - - (31,160) -
Central supportcosts 251,074 1,064,615 52,955 (561,283) (807,361) -
Totalexpenditure 1,288,018 1,922,804 607,387 - 127 3,818,336

The cost allocation methodology requires a judgement as to what are the most appropriate bases to use to apportion support costs; these are reviewed annually for reasonableness.

22

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

2024 DirectStaff
Costs		 Other Direct
Costs		 Bonrecalicy
and
o
Amortisation		 Allocated
Costs		 Support Costs em"
£ £ £ £ £ £
Expenditureon raisingfunds
Events management 265,398 322,292 4,493 45,661 163,975 801,819
Café 8,436 9,550 73,338 64,628 - 155,952
Activities for others 9,104 - - - - 9,104
282,938 331,842 77,831 110,289 163,975 966,875
Expenditureon charitable activities - Unrestricted Funds
Managed workspace 59,159 22,390 284,293 329,677 90,328 785,847
Professional training 596,756 344,324 184,897 119,785 509,830 1,755,592
Membership scheme 29,890 1,438 - - 10,112 41,440
Trade and exhibition grants 68,459 126,172 - - 53,974 248,605
754,264 494,324 469,190 449,462 664,244 2,831,484
Expenditureon charitable activities - Restricted Funds
Coat ofarms project - 6,100 - - - 6,100
- 6,100 - - - 6,100
Governance costs - 26,911 - - (26,911) -
Central support costs 216,941 1,092,536 51,582 (559,751) (801,308) -
Totalexpenditure 1,254,143 1,951,713 598,603 - - 3,804,459

Support costs have been allocated to the various activities on the following bases:

23

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

{b) Grants paid

==> picture [477 x 332] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Grants|to|institutions|-|Group|and|Centre|2025|2024| |£|£| |Trade|and|exhibition|grants| |Bishopsland|45,000|30,000| |Flourish|Jewellery|-|15,000| |Jewellery|Collective|-|14,100| |Creative|Dimension|Trust|12,000|8,800| |South|House|Trust|10,060|-| |City|and|Guilds|10,000|10,000| |Peace|Gold|CIC|10,000|-| |Future|Skills|Jewellery|Programme|-|10,000| |Halley|House|Schoo!|-|10,000| |Centra!|Scotland|School|of|Jewellery|-|9,240| |British|Art|Medal|Society|7,521|5,800| |BAME|Events|7,500|1,200| |Project ORE|5,795|4,600| |Contemporary|British|Silversmiths|5,000|-| |Scottish|Goldsmiths|Trust|-|2,932| |Craft|Central|2,330|-| |Pivot|1,200|2,400| |Community Advisory|Group|1,200|2,100| |Halley|House|School|540|-| |Total|grants|118,146|126,172|

----- End of picture text -----

Grants paid include those grants committed but not yet paid at 30 September.

(c) Direct staff costs The employment costs for those directly employed during the year were as follows:

==> picture [485 x 174] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2025|2024|2024| |Group|Centre|Group|Centre| |£|£|£|£| |Salaries|974,398|974,398|958,440|958,440| |Social|security|costs|108,111|108,111|97,938|97,938| |Pension|costs|205,509|205,509|197,765|197,765| |1,288,018|1,288,018|1,254,143|1,254,143| |Average|number|of employees|in|year|23|23|23|23| |Staff paid|£60,000|- £69,999|-|-|1|1| |£70,000|-|£79,999|1|1|-|-| |£120,000|- £129,999|2|2|1|1| |£150,000|- £159,999|=|-|1|1|

----- End of picture text -----

Key management personal costs include the Director and Deputy Director, and they were paid a total remuneration of £311,625 (2024 - £347,178).

24

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

(d) Governance costs

==> picture [506 x 99] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2025|2025|2024|2024| |Group|Centre|Group|Centre| |£|£|£|£| |Professional|fees|(legal,|audit & tax)|25,960|17,985|21,825|14,575| |Trustees'|travel|&|meeting expenses|1,436|1,436|1,733|1,733| |Trustees'|indemnity|insurance|3,764|3,764|3,353|3,353| |TOTAL|31,160|23,185|26,911|19,661|

----- End of picture text -----

Auditor’s remuneration relating to these financial statements was £15,085 for audit work and £2,900 for taxation work (2024 — £14,575 and Enil respectively). Fees paid in relation to the subsidiary’s accounts were £4,900 for audit work and £3,075 for taxation work (2024 — £4,675 and £2,575 respectively).

None of the Trustees received any remuneration in the year (2024 — £nil). Expenses for travel to meetings were reimbursed to two Trustees during the year amounting to £1,436 (2024 — £1,733).

==> picture [507 x 300] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |7.|Fixed|Assets| |Long-term|Furniture,| |Group|Leasehold|TOTAL FIXED| |2025|and Centre|Leasehold|=|oranges|Fixtures &|||Computers|Mecers| |Buildings|P|Fittings| |f|f|£|£| |Costs| |At|beginning|of the year|15,815,900|149,969|1,167,441|583,095|17,716,405| |Additions|during the year|.|-|161,449|27,272|188,721| |Disposals|during the year|(11,506)|-|(237,303)|(48,600)|(297,409)| |Total cost at end|of the year|15,804,394|149,969|1,091,587|561,767|17,607,717| |Depreciation|and|amortisation| |At|beginning|of the|year|6,697,024|7,483|= 1,054,280|494,447|8,253,234| |Charge|during the year|526,089|-|40,348|40,949|607,386| |Disposals|during the year|(11,506)|-|(237,303)|(48,600)|(297,409)| |Total charge|at end|of the year|7,211,607|7,483|857,325|486,796|8,563,211| |Net|book value| |At|beginning|of|the year|9,118,876|142,486|113,161|88,648|9,463,171| |At|end|of the year|8,592,787|142,486|234,262|74,971|9,044,506|

----- End of picture text -----

Included in furniture, fixtures and fittings are costs incurred of £198k (2024 - £70k) in relation to assets under construction for the Mechanical and Engineering project that commenced during the prior year. No depreciation is charged on these assets during the current financial year.

25

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

8. Debtors

2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Trade debtors 84,274 6,378 87,884 2,307
Refund due for VAT 169 8,438 7,751 20,469
Accrued Income 24,018 23,080 3,489 2,169
Sundry debtors 5,979 5,979 10,725 10,725
Due from subsidiary - - - 162,683
Due from the Goldsmiths' Company 6,110 6,110 - -
Due from the Goldsmiths' Foundation 3,330 3,330 - -
Prepayments 90,229 89,488 89,716 88,419
214,109 142,803 199,565 286,772

9. Creditors

(a) Breakdown

2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Trade creditors 786 818 91,131 91,276
Sundry creditors and accruals 217,580 192,965 230,394 186,673
Due to subsidiary - 32,812 - -
Due to the Goldsmiths’ Company 52,284 52,284 45,312 45,312
Social security and other taxes 28,461 28,461 31,020 31,020
Deferred income 139,570 30,712 114,734 16,028
Grants commitments - - 49,340 49,340
a a

(b) Deferred income analysis

Amounts shown in deferred income relate to income received during the year for events and projects to be held subsequent to the year-end date. The analysis of deferred income is below.

2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Broughtforward from prior period 114,734 16,028 110,200 11,922
Released in current period (113,909) (15,203) (109,375) (11,097)
Deferred during the current period 138,745 29,887 113,909 15,203
Carriedforwardtofutureperiod 139,570 30,712 114,734 16,028

26

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

(c) Grant commitments analysis
2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Brought forward from prior period 49,340 49,340 40,000 40,000
Grants committed in current period 118,146 118,146 126,172 126,172
Grants paid in current period (167,486) (167,486) (116,832) (116,832)
Carried forwardtofutureperiod - - 49,340 49,340

10. Provision for building maintenance

The provision for building maintenance represents the expected cyclical, non-routine maintenance of the building including an element for unexpected maintenance, based on past history and expected future works. The analysis of the provision for building maintenance is below.

2025 2025 2024 2024
Group Centre Group Centre
£ £ £ £
Broughtforward from prior period 83,104 83,104 87,641 87,641
Released in current period (62,439) (62,439) (12,237) (12,237)
Provided during the current period 7,700 7,700 7,700 7,700
Reclassify to sundry creditors (28,365) (28,365) - -
Carriedforwardtofutureperiod - - 83,104 83,104

11. Net income/expenditure

Net expenditure for the year is stated after charging/(crediting):

2025 2025 2024 2024
Group Centre Group Centre
£ £ £ if
Auditors' remuneration for audit 19,985 15,085 19,250 14,575
Auditors' remuneration for other services 5,975 2,900 2,575 -
Depreciation 607,386 607,386 598,604 598,604

12. Related party transactions

The Centre has recharged its subsidiary, The Goldsmiths’ Centre Events CIC, £347,553 (2024 - £305,122) for services rendered by the Centre’s staff for supporting The Goldsmiths’ Centre Events CIC’s activities as well for the use of premises and related utility costs. The balance due to the Goldsmiths’ Centre Events CIC at 30 September 2025 was £32,812 (2024 — £162,683 due from the Goldsmiths’ Centre Events CIC).

The Goldsmiths’ Foundation provides unrestricted operating and capital grants to the Centre. During the year, these amounted to £2,205,573 (2024 — £2,070,772). The entirety of this balance was received during the year

27

The Goldsmiths’ Centre

Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

ended 30 September 2025. The Strategic Review is jointly funded by the Goldsmiths’ Foundation, with an outstanding balance of £3,330 (2024: £nil) due from the Foundation in respect of its contribution.

The Centre has recharged The Goldsmiths’ Company (the Centre’s sole member) management expenses of £81,061 (2024 — £58,104) during the year for services rendered by the Centre’s staff supporting the Goldsmiths’ Company’s activities. There was also a charge of £1,562 (2024 - £594) for room hire and catering for Goldsmiths’ Company meetings held at the Goldsmiths’ Centre. The balance due from the Goldsmiths’ Company at year end was £6,110 (2024 — nil).

The Goldsmiths’ Company, from time to time, charges for any expenses paid on behalf of the Centre. The Goldsmiths’ Company also makes a management recharge for services rendered by the Goldsmiths’ Company’s staff supporting the Goldsmiths’ Centre’s activities. The management recharge made by the Goldsmiths’ Company was £205,238 (2024 — £206,734). The net balance due to the Goldsmiths’ Company was £52,284 (2024 — £45,312) and is included in creditors (see note 9).

13. Subsidiary undertaking

These financial statements consolidate the results and combined financial position of the Centre and its subsidiary, The Goldsmiths’ Centre Events CIC (company number 8345467), on a line by line basis. The Centre is the sole member of the CIC.

The result for the subsidiary for the year was a surplus of £19,925 (2024 — surplus £79,745) which was donated to the Centre (2024 - £79,745 donated) and its net liabilities/assets at the end of the year amounted to fnil (2024 — net liabilities £nil).

14. Funds

Within the Unrestricted Funds, the Trustees have designated funds as described below:

Building Fund

This represents the capital cost less depreciation of the building at the balance sheet date.

Fixed Asset Fund

This represents the capital cost less depreciation of fixed assets other than the building at the balance sheet date, in addition to the unspent portion of the grant received from the Goldsmiths’ Foundation shown in note 2 which had been set aside for capital expenditure.

Legacy Fund

This represents the balance of an unrestricted legacy received from a deceased estate during the 2018 year. Although unrestricted, the Trustees suggested to the executor that these monies be used to support the development of technical tutors via a shadowing scheme and teacher training and are tracking separately the related expenditure.

General Fund

The remaining Unrestricted Funds are regarded as a General Fund.

All unrestricted incoming resources and payments are accounted for through the General Fund. Additions are made to the Building and Fixed Asset Funds by transfers from the General Fund for amounts expended on their respective assets, and deductions from the Building and Fixed Asset Funds are made for their respective depreciation charges.

Restricted Funds

This represents the balance of any private donation received for a restricted purpose.

28

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

The Movement of Funds is as follows:

Fund Balance Fund Balance
Group and Centre 1Oct2024 Income Expenditure Transfers 30Sep2025
£ £ £ £ £
General Fund 308, 765 3,380,883 3,818,336 403,436 274,749
Legacy Fund 32,323 - - (4,050) 28,272
Building Fund 9,118,876 - - (526,089) 8,592,787
Fixed Asset Fund 363,238 - . 126,703 489,941
Total Funds 9,823,202 3,380,883 3,818,336 - 9,385,749
Fund Balance Fund Balance
Groupand Centre 1Oct 2023 Income Expenditure Transfers 30Sep2024
£ £ £ £ £
General Fund 219,556 3,377,449 3,798,359 510,119 308,765
Legacy Fund 35,838 - - (3,515) 32,323
BuildingFund 9,644,965 . (526,089) 9,118,876
Fixed Asset Fund 343,753 - - 19,485 363,238
Restricted Funds 6,100 - 6,100 . -
Total Funds 10,250,212 3,377,449 3,804,459 - 9,823,202
The allocation of Net Assets to Funds is as follows:
GroupandCentre
2025		 Building OtherFixed
Assets		 NetCurrent
Assets		 Long Term
Liabilities		 Total
£ £ £ £ £
General Fund . - 274,749 - 274,749
Legacy Fund . - 28,272 - 28,272
Building Fund 8,592,787 - - - 8,592,787
Fixed Asset Fund - 451,719 38,222 - 489,941
Restricted Funds - : - - 5
Total Funds 8,592,787 451,719 341,243 - 9,385,749

GroupandCentre
2024		 Building OtherFixed
Assets		 NetCurrent
Assets		 Long Term
Liabilities		 Total
£ £ £ £ £

General Fund		 - - 391,869 (83,104) 308,765

Legacy Fund		 : - 32,323 - 32,323

Building Fund		 9,118,876 - . - 9,118,876

Fixed Asset Fund		 - 344,295 18,943 - 363,238

Restricted Funds		 - - - - :

TotalFunds		 9,118,876 344,295 443,135 (83,104) 9,823,202

The allocation of Net Assets to Funds is as follows:

29

The Goldsmiths’ Centre Year ended 30 September 2025 NOTES TO THE FINANCIAL STATEMENTS

15. Comparative Statement of Financial Activities

The Statement of Financial Activities for the year ended 30 September 2024 is shown below, in order to provide comparative figures.

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THEGOLDSMITHS'CENTRE
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:
CONSOLIDATED: STATEMENT.OF FINANCIAL ACTIVITIES FORTHE YEAR ENDED
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:
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THEGOLDSMITHS'CENTRE
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:
CONSOLIDATED: STATEMENT.OF FINANCIAL ACTIVITIES FORTHE YEAR ENDED
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THEGOLDSMITHS'CENTRE
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:
CONSOLIDATED: STATEMENT.OF FINANCIAL ACTIVITIES FORTHE YEAR ENDED
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:
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THEGOLDSMITHS'CENTRE
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:
CONSOLIDATED: STATEMENT.OF FINANCIAL ACTIVITIES FORTHE YEAR ENDED
eet
:
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(INCLUDING
THEINCOMEANDEXPENDITUREACCOUNT)		 :
30 SEPTEMBER 2024		 be
Unrestricted Restricted Total
Funds Funds Funds
2024 2024 2024
£ £ £
Income and endowments from:
Donations and legacies 2,070,772 - 2,070,772
Othertrading activities 658,005 - 658,005
Interest income 16,034 - 16,034
Charitable activities 629,638 - 629,638
Other income 3,000 - 3,000

Total income		 3,377,449 - 3,377,449

Expenditure on:

Raisingfunds		 966,875 - 966,875

Charitable activities		 2,831,484 6,100 2,837,584

Total expenditure		 3,798,359 6,100 3,804,459

Netexpenditure forthe year		 (420,910) (6,100) (427,010)

Total funds broughtforward		 10,244,112 6,100 10,250,212

Totalfundscarriedforward		 9,823,202 - 9,823,202

30