Charity registration number: 1121131 Goodwill Foundation Charitable Trust Trnstees. report and financRal statements for the year ended 31 August 2024 Goodwill Foundation Charitable Trust Contents Legal and administrative information Pa%e Legal and administrative information Trustees, report Independent examiner's report Statement of Financial activities Ba]ance Sheet Notes to the financial statements Goodwill Foundation Charitable Trust Legal and administrative information CharRty registration number 1121131 Charity address Unit 70 Batley Business & Technology Centre Bar]ey WF17 6ER Trustees IASheth A A Patel Independent Examfiner W Ahmad BSCACA AHM Chartered Accountants The Beeches 20 Ring Road Shadwell Leeds, LS17 8NI Bankers Barclays Bank PIC Crackenedge Lane Dewsbury WF13 IPT Goodwill Foundation Charitable Trust Report of the trustees for the year ended 31 August 2024 The trustees present their report and the financial statements for the year ended 31 August 2024. The financial statements have been prepared In accordance with the accounting policies set out in note l and comply with charity's governing documenL the trust dee(L the Charities Act 2011 and Accounting and the Charities StaterneDt of Recommended Practice (sècond ed￿tion) and Financial Reporting Standard FRS 102. Structhre. Governance and Management Goodwill Foundation Charitable Trust (GFcf) 15 a registered UK charity constituted on 07 February 2007 under charity number 1121131. It is an unincorporated charlty and the governing document is a Trust deed. The Trustees who served during the year up to the date this report are set out on page 2. The trustees have the power to appoint any person to be a trustee in accordance with the provision5 ofthe charity's governing document. An appointed trustee holds oTrice within the limlts permitted by law. Objectives and actlvities The objectives of the trust, as set out in its governing document are.. - the relief ofpoverty and sickness the advancement of religion - the advancement ofeducation and - the promotion and protection ofgood health When planning activities for the year, the trustees have considered the Commission's guidance on publlc benefit. Achievements and performance During the year. Goodwill Foundation raised £245,868 Principal risks and mltlgations The trustees have undertaken an assessment as to whether the charity remains a going concern as at the date of the financial 5taternents approva]. The trustees have considered all potential variables that may affertthe going concern assumption and have prepared sufficient supporting documentaiion in orderto reach their conclusion. The detailed assumption has been based on cash flow forecasts prepared for at least twelve months from the date of signing the financial statements. Scenarto planning by modelling a number of different outcomes for the charity over the same twelve month period has also been undertaken, given the high level of uncertainty regarding the effects of the pandemic in certain areas. The trustees are confidentthat the chariry will continue in operational existence for the forseseeable future. Statement of trustees, responsibilltles The trustees are responsible for preparing the Trustees, Annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United K5ngdom Generally Accepted Accounting Practice). Law5 applicable to charities in England and Wales requires the trustees to prepare financial statements for each calendaryear which give a true and fair view ofcharity and of incoming resources and application of resources of the charity forthat year. In preparing these financial statsments the t￿SteeS are reqLtired to.. select suitsble accounting policies and apply them consistent]y observe the methods and principles in the Charitie5 SORP Enakes judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements aDd prepare the financial statements on the going concern basis unles5 it is inappropriate to presume that the charity wlll contknue in operation. Goodwill Foundation Charitable Trust Report ofthe trustees fortheyear ended 31 August 2024 (Cont'd) The trustees are respoDsibSe forkeeping proper accounting record5 which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charity's governing dotument. the Charities Act 2011 and the relevant version ofthe Staternent of Recommended Pracrice applicable to charitiÈS preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland [FRS 102)- They are also responsible for safeguarding assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the boaTd A A Patel Trustee Date.. 27 lune 2025 Goodwfill Foundation Charitable Trust Inde endent examiner's re ort to the trustees of Goodwill Foundation CharRtable Trust I report to the charity trustees on my examination of the accounts Df the above charity I'the Trust") for the year ended 31 August 2024 set out on pages 6 to 10. Responsibilities and basls of report As the charity'5 trusteesyou are responstble for the preparation of the accounts in accordance with the requirements ofthe Charities Act 2011 ("the Act.). I report in respert of my examirtation of the Trust's accounts as carried out under section 145 of the 2011 Art and in carrying out my examination, I have followed 311 the applicable Directions given by the Charity Commission (under section 14SIS)(b) of the ACL Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with the relevant version ofthe Statement of Recommended Practice applicable to charities preparing the2r accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 in preference to the Accounting and Reporting by Charities= StatemeJtt of Recommended Pracbce issued on I April 2005 which is referred to in the extant regulations but has been withdrawn. We understand thatthis has been done In order for the accounts to provide a true and fairview in accordance with UK Generally Accepted Accounting Practice. Independent examlner's ststement I have completed my examination. I confirm that no material matters have come to my attention in connection wlth the examination giving me cause to believe that in any material respect: l. accounting records were not kept in Te5pect of the Trust as required by section 130 of the Actr, or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the fom and Content of accounts set out In the Charities IAccounts and Reports) Regulations 2008 other than any requiretnent that the accounts give a'true and fair view which is not a matter considered as part of all independent examination. I have no concerns and have come across no other matters In connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. Waheed Ahmad BSCACA Institute of Chartered Accountants in England and Wales AHM The Beeches 20 Ring Road Shadwell Leeds LS17 8NI Date.. 27 lune 2025 Goodwill Foundation Charitable Trust Statement of Financial Activities for the ear ended 31 Au st 2024 Notes LJnrestricted Funds Restricted Funds 2024 Total 2023 Total Income Voluntsry Income.. Donations 245.868 245,868 92,942 Total Income 245,868 245,868 92,942 Expenditure Expenditure on Charttable activities Management & Administration expenses 189,688 512 189,688 512 110,864 497 Total Expenditure 190,200 190,200 111.361 Net [deFicit) / Income for the year Total funds brought forward Total carried forward 55,668 1623) 54,045 SS,668 1623 54,045 18.419 16.796 1623 The Statement of Financial Activites includes all gains and losses recognised in the year. All income and expenditure derive fro]n continuing activities. The notes on pages 8 to io forni an integral part of these financial statements Goodwill Foundation Charitable Trust Balance Sheet as at 31 Au st 2024 2024 2023 Notes CurrentAssets Cash at bank and in hand 56.383 56,383 505 505 Credltors: Amount falling due withSn one year: 2,338 2,128 Net CuTrentAssets 54,045 {1,623) Total Assets less Current Liabilitles 54,045 (1,623) Net Assets 54.045 1,623 Funds of the charity: Restrirted funds Unrestritted funds Tota] Funds 54,045 54,045 1,623 [1,623) The financial statements were approved by the board of trustees and are signed on behalf of the board by.. A A Patel Date: 27]une 2025 The notes on pages 8 to 10 form an integral part of these financial statements Goodwill Foundation Charitable Trust Notes to the financial statements for the ear ended 31 Au ust 2024 l. Accountlng Polldes: The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. (a) Basis of preparation The accounts (financial statements) have been prepared under the historical cost convention with items reco8nised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition ofthe Charities Statement of Recornrnended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland [FRS 102) and the Charitie5 Art 2011. The accounts (financial staternents) have been prepared to glve a.trne and fair. wew and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a'true and fair view". This departure has involved following the ￿leVant version ofthe Ststement of Recommended Practice applicable tt> charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) rather that] the Accounting and Reporting by Charities.. Statemtnt of Recommertded Practice effective from l April 2005 which has slnce been withdrawn. (b} Fund accounting Generdl fLttJds are unrestrirted fund5 which are available for the use of discretion of the trustees in furtherance of the general objectives of the charity and has not been put aside for other purposes. Rertricted fund5 are funds which are to be used in accordance with Specific restrictions which has been raised by the charity for a specific purpose. The cost of raising and adTninistering such funds are charged against the specific fund. (c) Incoming resources All ineorning resources are included in the statement of financial activitie5 when the charity is entitled to the income and the amount can be quantified wlth reasonable accuracy. The following specific policies are applied to the particular categories of income.: Voluntary income is receivEd by way of grants, doDation5 and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity. are recognised when the charity becomes unconditionally entitled to the granL Donated services aryd facilitie5 are included at the value of the charitywhere itcan be quantified. The value of services provided byvolunteers has not been included. (c) Resources expended Expenditure is recognised on an accruals basis as a liability 15 incurred. Expendi￿re indudes any VAT which cannot be fully recovered, and Is reported as part ofthe expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and service5 for its beneficiaries. It includes both costs that can be allocated to such activiues and those costs of an indirert nature necessary to support them. (d) Going conern The principle risk facing the charity is its ability to generate sufficient income to cover expenditure incurred in fulfilling the objectives of the chariry. The trustees have reviewed the cash position and cash forecasts at the date of Signing the accounts and are satisfied that the charity will be able to meet all of its financial commitments.As a consequence the trustees believe thatthe charity is well placed to manage its financial risks successfully despite the current uncertain economic outlook. especially with regard to Covid-19 and that the charity has adequate reserve5 to continue in operational existence for the foreseeable future. Accordin8ly the trustees continue to adopt the going concern basis in preparlng the accounts. 2024 Unrestrlrted fvnds 2023 Unrestricted funds 2. Donations Donations from indiv5duals & orgaoi5ation5 245.868 92,942 Goodwill Foundation Charitable Trust Notes to the financfial statements for the ear ended 31 Au st 2024 2024 2023 3. Cost of charitable activities Charitable activities Administrative cos 189.688 S12 110,864 497 190,200 111.361 4. Trustees. remuneration Employment costs None ofthe trustee5 received fees or expenses during the year12024.. nil). No persons were employed duringthe year [2023.. nll) 2024 2023 S. Independent examiDation fees Fees payable to the independent examiner for examination of the financial statements 350 350 6. Creditors: amounts falling due wlthin one year 2024 2023 Other creditor5 2,338 2.128 2,338 2.128 7. Analysis of charitable funds At I September 2023 Jncoming resources Outgolng resources At 31 August 2024 Restricted funds Unrestricted funds Total funds 1,623 1,623 245.868 245,868 190,200 190,200) 54,045 54,045 Goodwill Foundation Charitable Trust Notes to the flnancial statements for the ear ended 31 Au st2024 8. Analysls of net assets berween fvnds Unrestrlcted funds £ Restricted funds£ 2024Totsl Punds £ 2023 Total Funds £ Current assets Current liabilities 56,383 (2.338) 56,383 {2338) 505 {2,128) 54.045 $4.045 1,623 9. Related party transactlons During the year l A Sheth who is a trustee of the charity, donated £101.401 to the charlty, (2023: £44,8301- All transactions with related parties were condurted at arms length and in accordance with the charity's objectives. 10