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← Golden Opportunity Skills And Development (Gosad)

2024-03-31-accounts

Golden Opportunity Skills and Development ( GOS&D ) Annual Report 2024

| TABLE OF CONTENTS

Chairman’s Statement 3 GOS&D’s Guiding Principles 4 Our Key Impact 2023-2024 5 2023-2024 Projects 6 Case Studies And Testimonials 11 ~~~--------~~~~ % Acredations And Quality Marks 12 ~~rr 4~~ Accounts 13

Chairman’s Statement

As Chairman of Golden Opportunity Skills and Development (GOS&D), I am immensely proud of the remarkable achievements our charity has made this year in supporting and enhancing the lives of those who are marginalized and facing multiple disadvantages. The increasing demand for our services is a testament to the critical role we play in our communities, and I want to extend my heartfelt gratitude to the dedicated team at GOS&D whose outstanding contributions have been vital to our success.

This report clearly illustrates the positive impact our services and programs have on our beneficiaries, as well as the value they bring to our stakeholders and partners. Our leadership in the GNP and Everyone Matters consortia projects exemplifies our unwavering commitment to elevating the voices of those we serve and showcasing the excellent work of our partner organizations. Addressing the needs of underserved communities remains a fundamental priority for us, driving our mission forward.

GOS&D is committed to serving our communities effectively, and we remain focused on maximizing our impact to improve the lives of those confronting multiple disadvantages. As we look to the future, our challenge lies in meeting the increasing demand for our support while expanding our services to stand alongside our beneficiaries for years to come. To that end, we are actively engaging in dialogues with our partners to strengthen our future relationships, ensuring that we adopt collaborative approaches that enable us to grow and evolve in our mission.

The insights gleaned from our 2023 beneficiary survey have been invaluable, shedding light on the pressing concerns individuals face amid the current cost-ofliving crisis and the difficulties encountered in accessing public and private services.

A top priority moving forward is the development of a new, ambitious income generation strategy that maximizes our financial support avenues and explores new opportunities and partnerships. This strategy is essential for us to expand our reach and enhance the services we offer to our beneficiaries and partners.

I extend my deepest gratitude to every member of our dedicated staff, volunteers, fellow trustees, and partners for their commitment and hard work, making this year’s impact possible.

I eagerly anticipate our continued collaboration to achieve even more for those we serve in the coming year.

Thank you.

Abdirisak JIBRIL Chair of Trustees

03 | ANNUAL REPORT 2023-2024

GOS&D'S GUIDING PRINCIPLES

GOS&D’S CHARITABLE OBJECTIVES

To develop the capacity and skills of people from socially disadvantaged communities.

To provide relief from financial hardship, sickness, social or economic disadvantage, and to advance the education of its community.

To promote and fulfil other charitable purposes beneficial to the charity.

To empower individuals to make, and put into practice, informed choices based on _ ee — _ their experiences.

GOS&D’S VISION

To see a vibrant and equal society where everyone is valued for their potential, and where their human rights are observed and protected.

GOS&D’S MISSION

To engage every section of the community in creating person-centred, workable solutions to meet everchanging societal needs and wants.

GOS&D’S STRATEGIC OBJECTIVES

Raising aspirations

Extending opportunities

Tackling poverty

Strengthening communities

04 | ANNUAL REPORT 2023-2024

Our Key Impacts: 2023-2024

This year, GOS&D achieved remarkable milestones in delivering transformative programs and support to

901 Workshops and Training Sessions Delivered

Empowering individuals with skills to enhance their employability and

1,477 Beneficiaries Supported

Reaching individuals and families through multiple projects and initiatives.

214 Residents Avoided Homelessness

Providing critical housing support to those at risk.

£371k+ Generated or Saved for Residents

Assisting individuals with financial guidance and advocacy.

4,021 Volunteer Hours Contributed

Showcasing the dedication of our community to our mission.

118 Employment Opportunities Secured

Helping residents access meaningful work and self-employment pathways.

405 Individuals Gained Digital Inclusion

Bridging the digital divide for equal access to services and opportunities.

512 Residents Improved Their English Language Skills

Enabling learners to communicate effectively and engage fully in their communities.

330 Residents Tackled Physical Inactivity

Promoting healthier lifestyles through targeted initiatives.

Our Commitment

These milestones reflect our dedication to tackling poverty, extending opportunities, and strengthening communities.

2023-2024 Projects

—_ | _ "= RAISING ASPIRATIONS / ; ~~DW~~ 4 : L ~~——=——=$=$=——~~ Language Programmes ESOL Programme ~~.~~ f ~~.~~ : We continue to deliver our practical and blended ESOL program, welcoming new learners into the program. s Currently, our waiting list has grown to 70 potential 0—— learners, highlighting the increasing demand for our / Ra = ~ 4 services. GLA SFL Community Outreach Programme Numeracy and Literacy programme Digital Inclusion This year, we have observed a concerning rise in the number of residents facing digital exclusion, which has significantly impacted their access to essential services. The council's request for residents to reapply to the housing registry (Locata) has further heightened the demand for our support, underscoring the critical need for our services in helping individuals navigate these challenges and ensure they can access vital resources and opportunities

Financial inclusion

Our financial inclusion training program, designed by individuals with firsthand experience of financial challenges, aims to address the specific needs of our beneficiaries. We have also offered personalized one-on-one support to assist them in effectively navigating their financial situations

Financial inclusion Digital Inclusion Language Programme 281 engaged users 377 engaged learners 438 engaged learners 92 workshops delivered 321 qualified learners 134 LOCATA applications 73 personal budgets tracked and 83 UC applications completed. 06 | ANNUAL REPORT 2023-2024

2023-2024 Projects

TACKLING POVERTY + EXTENDING OPPORTUNITIES

Employment project

P2E employment project: supporting Hounslow minoritized communities.

information, advice and guidance (IAG)

214 residents avoided homelessness

64 residents resolved housing disrepair issues

118 residents secured employment/selfemployment opportunities

3residents avoided secured employment/selfemployment opportunities

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07 | ANNUAL REPORT 2023-2024
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2023-2024 Projects 4 “ eSa STRENGTHENING COMMUNITIES = nee

Community Mental Health Project ~~SS~~

Our work on mental health continues to challenge conventional practices and current interventions that do not adequately address the mental health needs of marginalized communities. We provide culturally appropriate mental health interventions.

- Anti Violence Youth Project

Supported by Hounslow Council under the EA |i al Mayor’s VRU program, we engaged with young people and parents/guardians on j | Hounslow High Street. The project aimed atreducing and preventing youth violence and Mh \ q 4 risky behaviour.

- ~~—————————————————~~ Anti Extremism Projects ~~OO~~

Extremist views that lead to adverse actions, primarily among young people, remain a significant concern. Our work encourages critical thinking to reject extremist views and narratives.

.

Twice a year, we hold sessions and convenings focused on ending Female Genital Mutilation by engaging with men from practicing communities.

100% of of the young people and parents we engaged with are opposed to extremist views

78 users reported improved mental health conditions

142 men from practicing communities signed our Dignity Charter to end FGM

08 | ANNUAL REPORT 2023-2024

2023-2024 Projects

COMMUNITY CAPACITY AND DEVELOPMENT

GOS&D is grateful for being awarded the foundations enhanced capacity building support.

NETWORKS

GOS&D understands the need and advantages of being a connected organisations. The organisation is connected to key and strategic organisations such as; Ealing and Hounslow CVs, Southall Community Alliance, ARE, Ubele Initiative, Locality, Young Ealing Foundation, among others.

GOS&D actively connects with key strategic networks, including Ealing Council’s Youth Offer, the HDRC strategic group, and the Suicide Prevention Strategic Group, among others.

As part of its Temporary Accommodation project funded by Trust for London, GOS&D takes parts in convening sessions with likeminded organizations that aim to drive change and improve housing options for Londoners.

10 | ANNUAL REPORT 2023-2024

Case Study and Testimonials ~~KK~~

:

Case Study: Mr. D

Participant's Starting Situation

Mr. D arrived in the UK as a refugee from Afghanistan, struggling with anxiety, low confidence, and cultural stigma around seeking help. His challenges in adapting to a new environment, coupled with poor educational qualifications, left him without employment experience.

Barriers Faced Anxiety and low confidence. Learning difficulties due to a lack of tailored support. Minimal knowledge of the job market or available resources. Interventions

The GOS&D team provided comprehensive support tailored to Mr. D’s needs, including: Motivational Guidance: Building his confidence and helping him overcome mental barriers. Employability Support: Assisting with CV creation, job applications, and interview preparation. Personalised Support: Hands-on assistance to secure his first job.

Aftercare: Ongoing mentoring to ensure his success in the workplace. Outcomes

Through his engagement with the program, Mr. D achieved a remarkable transformation: Secured his first job in the UK, boosting his confidence and financial independence. Developed skills to sustain employment and contribute meaningfully to his community. Testimonials

Testimonials ~~—_—_~~

Thanks to Sunita and GOS&D. I am now in a job that I never dreamt I would ever secure and in my first month I got promoted to become a supervisor

I am so happy and cried that I and my children are no longer in a dump infested property. Our new home is perfect for my us. I cannot thank Amal enough. God Bless.

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11 | ANNUAL REPORT 2023-2024
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ACCREDIATIONS AND QUALITY MARKS

12 | ANNUAL REPORT 2023-24

GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2024 REGISTERED COMPANY NUMBER 06396150 REGISTERED CHARITY NUMBER 1121565

GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

ANNUAL REPORT AND ACCOUNTS

CONTENTS:
Legal and Administrative information
Trustees/Directors’ report
Statement of Trustees’ responsibilities
Independent Audit Report
Statement of Financial Activities
Balance Sheet
Notes forming part of the financial statements		 Page No.

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

ANNUAL REPORT AND ACCOUNTS

GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD) is a charitable company limited by guarantee, incorporated on 11 October 2007 and registered as a charity with the Charity Commission on 12 November 2007.

The company was registered under a Memorandum of Association which established the objectives and powers of the company and is governed under its Articles of Association.

GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD) is a leading charity focused on building a vibrant and equal society.

Our services are designed to meet the needs of people from socially disadvantaged parts of our community and help them flourish.

GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD) was founded in 2003 by three friends from diverse and challenging backgrounds who shared a vision of better support for young people in Ealing, London. Since then, we have delivered groundbreaking projects focused on providing the kinds of help that really makes a difference.

REGISTERED COMPANY NUMBER 06396150

REGISTERED CHARITY NUMBER 1121565

REGISTERED OFFICE:

Resource Centre Featherstone Terrace London UB2 5AL

BANKERS NATWEST 69 The Broadway Southall, London UB1 1LD

ACCOUNTANTS

Unit 9 194 FORE STREET LONDON N18 2JB

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

DIRECTORS AND TRUSTEES FOR THE YEAR ENDED ON 31 MARCH 2024

The directors of the charitable company are its trustees for the purpose of charity law and throughout this report and are collectively referred as trustees.

The appointed trustees are as follows:-

Abdirrisak JIBRIL - Chair Yuusuf GUULED - Treasurer Kaisi OMAR - Secretary Kevin DEMPSEY Glen GAYLE

Structure, Governance and Management

GOLDEN OPPORTUNITY SKILLS AND DEVELOPMENT (GOSAD) is a company limited by guarantee and has charitable status. Its governing document is clearly set out in its Memorandum and Articles of Association.

The policies and procedures adopted for the induction and training of trustees.

All newly appointed Trustees are inducted by the charity’s trustees Manager and are given appropriate documents that contain their roles and responsibilities as referred to the guidance published by the Charities Commission.

Additional external training is also provided to all newly appointed trustees when new opportunities become available. This is mainly designed to ensure that trustees follow the rules in the charity’s governing document and to support them to fulfil their roles and responsibilities effectively.

All decisions relating to the governance and management of the organisation are taken and approved by the trustees.

GOLDEN OPPORTUNITY SKILLS AND DEVELOPMENT (GOSAD) engages in partnership with many other organisations and charitable companies, but this does not have an impact on the operational policies adopted by the charity.

The relationships between the charity, related parties, and with other charities and organisations are solely in the pursuit of its aims and objectives as clearly indicated in the organisation’s governing document.

Risk Assessment

The charity manages its exposure to unexpected risks that the charity may face such as adverse changes in funding and other adverse events that may have a significant impact or the potential to inhibit areas of its charity operations in developing and putting in place effective and efficient mitigating measures.

Those measures and systems are regularly monitored, reviewed and developed periodically in trustees’ management committee’s meetings.

The organization has a comprehensive risk register in place, which is reviewed and monitored regularly.

Internal risks are also continuously reviewed and appropriate measures are developed and implemented to safeguard the organisation’s resources and charitable activities.

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES’ REPORT

Objectives and Activities

A summary of the objects of the charity aims as set out in its governing document:

An explanation of the charity’s strategies for achieving its stated objectives

To arrive at this ambitious plan we listened to many voices. We heard directly from the very people that directly benefit from GOSAD’s projects about their experiences.

We asked them what life is like for them and what project(s) and support they want to help them through difficult and challenging times.

We listened to our steering group of users, set up to help shape the strategic vision, on many topics, including their take on what would happen if GOSAD no longer existed to provide crucial services to the community.

Our staff and volunteers shared their experiences, and we met with many others from outside the organisation to discuss how, together, we can provide timely and appropriate interventions for those in our communities that face multiple disadvantages

During the next three years, we anticipate:

During the next three years, we anticipate:

➢ Continuing Reductions in Public Spending

GOSAD will continue to focus on funding initiatives that support the delivery of core statutory duties. This focus will significantly impact our users, especially with EALING's shift to awarding single contract awards. Consequently, there will be fewer funds available to distribute across various programs. Public spending cuts are likely to remain challenging, with certain sectors like health and defence being less affected due to their critical nature and public expectations

➢ Economic Uncertainty and Income Inequality

While economic growth and increases in employment are forecasted to continue, there is significant uncertainty regarding the long-term outlook. Income from employment remains stagnant, with a rising number of individuals becoming self-employed in less secure roles. This trend is likely to exacerbate income inequality and increase the number of people experiencing poverty in the coming years. The cost of living crisis continues to pressure households, with inflation affecting real incomes and creating a more pronounced divide between different economic groups.

➢ Decreased Voluntary Sector Income

Nationally, the income of the voluntary sector has seen fluctuations, with a recent uptick following a period of decline primarily due to reduced public spending. Although income from government grants and contracts is

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

falling, the reduction in grant funding surpasses the decrease in contract funding. This trend poses a

significant challenge for voluntary organizations that rely on public funds to support their operations.

As funding diminishes, public services will face increased pressure, necessitating service reorganization to

cope with rising demands. The increase in demand is coupled with ongoing budget constraints, leading to significant challenges in maintaining service quality and accessibility.

Welfare reforms are set to continue, leading to more users facing challenges in accessing and exercising their rights to welfare benefits. The recent overhaul includes tightening the Work Capability Assessment to reflect the modern work environment, which aims to encourage those with less severe conditions to engage in work with appropriate support. This shift is expected to impact hundreds of thousands of benefit recipients, transitioning them towards employment rather than long-term incapacity benefits. Furthermore, changes to fit note processes aim to focus on what individuals can do with the right support, addressing the unsustainable rise in welfare spending driven by long-term sickness, particularly mental health conditions.

Youth violence, particularly knife crime, is expected to rise. Recent years have shown that young people are increasingly engaging in acts of violence independently of gang affiliations. This trend necessitates targeted interventions to address the root causes and provide better support systems for at-risk youth.

Health inequality, particularly in mental health support within BMER communities, will continue to persist, requiring targeted interventions and resources. The ongoing disparities in health outcomes necessitate a concerted effort to address the specific needs of these communities.

Resources and support for ESOL, Digital, and Financial Inclusion programs are expected to decline, even as demand for these interventions rises. The shift to Universal Credit has highlighted a significant need for digital skills, leaving many individuals requiring assistance due to a lack of digital literacy. The challenge is compounded by the reduced availability of funds to support these essential programs, which are crucial for helping individuals navigate the welfare system and improve their employability.

Social injustice and the lack of legal support (due to legal aid reforms) will continue to affect the most vulnerable members of society. This includes inadequate advocacy support for unfair school exclusions and insufficient court (tribunal) representation for those fighting to access or maintain disability-related benefits.

External reviews

Whenever possible we will engage external researchers to gain an impartial and more rigorous evaluation of our work. Through Steering Groups established for some of our projects we also gain on-going external review.

Financial Review

On reserves

The board is committed in building up sufficient unrestricted funds to enable it to meet its essential charitable objectives in emergencies.

The charity’s general reserve for emergencies stands at £23,640 for the financial year ended 31 March 2024. This is included in the reserves of the year of £153,833.

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Funds Held as Custodian Trustee on Behalf of Others

The Association does not hold any funds on behalf of other parties.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES:

Company law requires the trustees to prepare financial statements that give a true and fair view of the organisation’s financial activities during the year and its financial position at the end of each financial year.

In doing so, 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 company and enable them to ensure that the financial comply with applicable laws, regulations and the trust deeds.

They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities including money laundering.

Signed on behalf of the trustees:

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Abdirrisak JIBRIL Yuusuf GUULED
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Chair

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Treasurer
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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Independent examiner’s report to the charity trustees of GOLDEN OPPORTUNITY SKILLS AND DEVELOPMENT (GOSAD)

I report to the trustees on my examination of the accounts of GOLDEN OPPORTUNITY SKILLS AND DEVELOPMENT (GOSAD) for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed by examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Yousif Abdi – ACCA, FCCA

For and on behldf of Aflah Accounting Solutions Date: 28/07/2024

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Notes UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL FUNDS TOTAL FUNDS
£ £ £ £
2024 2023
INCOMING RESOURCES
Voluntary Income/Grants (1) 34,010 456,323 490,333 460,166
Legacies - - - -
Gifts in Kind - - - -
Investment Income - - - -
Charitable Activities - - - -
Other Incoming Resources - - - -
Total Incoming Resources: 34,010 456,323 490,333 460,166
RESOURCES EXPENDED:
Costs for generating funds - - - -
Charitable Activities (143,294) (143,294) (64,903)
Supporting Activities (222,519) (222,519) (288,447)
Service level agreements with partner charities (110,470) (110,470) (113,590)
TOTAL RESOURCES EXPENDED: ( 2) 0.0 (476,283.0) (476,283.0) (466,940.0)
Net Surplus/Deficit for the year 34,010 (19,960) 14,050 (6,774)
Opening funds Transfer of funds 0 153,833 153,833 160,607
Transfer of funds 0 0 0 0
CLOSING FUNDS: 34,010 133,873 167,884 153,833

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 BALANCE SHEET AS AT 31 MARCH 2024 GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

2024 2023
Notes £ £
FIXED ASSETS
OFFICE FURNITURE AT COST (3) 2,773 2,773
LESS ACCUMULATED DEPRECIATION (2,773) (2,773)
COMPUTERS & OTHER EQUIMPMENTS AT COST (3) 50,256 45,314
LESS ACCUMULATED DEPRECIATION (31,548) (26,522)
NET BOOK VALUE 18,708 18,792
CURRENT ASSETS
CASH AT BANK & IN HAND (4) 150,476 136,241
PREPAYMENTS 0 0
DEBTORS 0 0
TOTAL CURRENT ASSETS 150,476 136,241
CURRENT LIABILITIES
CREDITORS (5) (1,300) (1,200)
NET ASSETS 167,884 153,833
RESERVES:
RESTRICTED FUNDS (6) 139,959 111,878
UNRESTRICTED FUNDS 27,925 41,955
TOTAL 167,884 153,833

Approved by the board on 23/07/2024 and signed on behalf of the board by:

Yuusuf GUULED - Treasurer

Abdirisak JIBRIL - Chair Yuusuf GUULED - Treasurer A -Tibite | ~ --------------------------------------- ----------------------------------

GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

NOTES FORMING PART OF THE FINANCIAL STATEMENTS:

ACCOUNTING POLICIES:

1b) INCOMING RESOURCES:

Voluntary income includes donations, gifts, legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, certainly of receipts and the amount can be measured with sufficient reliability. Such income is only deferred when:

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognised as earned (as the related goods or services are provided). Grant income includes in the category provided funding to support performance activities and is recognised where there is entitlement, certainly of receipts and the amount can be measured with sufficient reliability.

1c) RESOURCES EXPENDED:

Expenditure is recognised when a liability is incurred. Contractual agreements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable.

1d) RESTRICTED FUNDS:

Restricted funds are to be used for specified purposes as lay down by the founder. Direct and support expenditure, which meets these criteria, is defined to the fund together with a fair allocation of other costs.

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1e) UNRESTRICTED FUNDS:

Unrestricted funds are funds received with no restrictions placed in their expenditure and are available as general funds.

1f) Revenue grants are credited to incoming resources on the earlier of when they are received on when they are due.

Note 1

INCOMING RESOURCES:

RESTRICTED INCOME

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DONORS TOTAL 2024 (£) TOTAL 2023 (£)
ELAAT 3,855.00 1,145.00
LB EALING 115,463.00 87,268.00
THE LONDON COMMUNITY FOUNDATION 50,000.00 50,000.00
CAF RESILIENCE FUND 28,625.00
JOHN LYONS FOUNDATION 37,400.00
LB HOUNSLOW 61,925.00 12,500.00
HADEA 950.00
YOUNG EALING FOUNDATION 7,750.00 9,750.00
TRUST FOR LONDON 57,500.00 26,250.00
NATIONAL LOTTERY COMMUNITY FUND 140,000.00 140,000.00
ESDEG 350.00 700.00
COM ACT PRO 1,000.00
GREATER LONDON 18,480.00
TOTAL 456,323.00 394,588.00
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UNRESTRICTED INCOME

DONORS TOTAL 2024(£) TOTAL 2023(£)
EALING MENCAP 14,085.00 10,684.00
EACH 8,935.00
SOUTHALL COMMUNITY ALLIANCE 4,000.00 4,940.00
LLOYDS BANK FOUNDATION 27,250.00
EALING SOMALI WELFARE 5,703.00
SOFALE 735.00
CYTA CONSULTING LT 100.00
UBELE 338.00
FUTUREBRIGHT SOLUTION SUCCESS PROJECT 550.00
A2DOMINION 1,000.00
THE GEORGE AND ESME POLLITZER CHARITABLE SETTLEMENT 5,000.00
SOMALI YOUTH HELPLINE 343.00
HOUNSLOW SURVEY 4,763.00
BME HEALTH FORUM 10,430.00
OTHER 732.00
TOTAL 34,010.00 65,578.00

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

NOTE 2

TOTAL RESOURCES EXPENDED

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EXPENSE UNRESTRICTED FUNDS (£) RESTRICTED FUNDS (£) TOTAL - 2024 (£) 2023 (£)
CHARITABLE ACTIVITIES 6,085.00 143,294.00 149,379.00 76,342.00
SERVICE LEVEL AGREEMENTS 110,470.00 110,470.00 113,590.00
VOLUNTEERS COSTS 3,340.00 3,340.00 10,208.00
ACCREDITATION AND MEMBERSHIP FEES 1,535.00 1,535.00 448.00
PROMOTIONAL SERVICES 2,021.00 2,021.00 4,276.00
TELEPHONE 3,504.00 3,504.00 2,923.00
PAYROLL & HMRC COSTS 158,772.00 158,772.00 157,469.00
RENT 7,042.00 7,042.00 14,361.00
REPAIRS & MAINTENANCE 1,810.00 1,810.00 5,888.00
DEPRECIATION CHARGES 5,026.00 5,026.00 4,531.00
UTILITIES 3,205.00 3,205.00 4,389.00
INSUARANCE COSTS 997.00 997.00 972.00
BANK CHARGES 615.00 615.00 630.00
CLEANING 1,100.00 1,100.00 2,590.00
STAFF TRAINING AND DEVELOPMENT 4,000.00 4,000.00 24,945.00
STAFF EXPENSES 2,952.00 2,952.00 7,289.00
HIRING COSTS 2,743.00 2,743.00 7,890.00
BUSSINESS RATE 68.00 68.00 1,029.00
OFFICE SUPPLIES COSTS 216.00 216.00 1,100.00
SOFTWARE COSTS 866.00 866.00 800.00
ACCOUNTING COSTS 1,300.00 1,300.00 1,200.00
CONSULTANCY COSTS 6,256.00 6,256.00 4,100.00
MANAGEMENT SERVICES COSTS - 0.00 8,000.00
PROFESSIONAL SERVICES COSTS 3,490.00 3,490.00 4,700.00
EQUIPMENTS EXPENSED 2,135.00 2,135.00 3,380.00
PENSIONS 3,440.00 3,440.00 3,140.00
OTHER 750.00
TOTAL 6,085.00 470,197.00 476,282.00 466,940.00
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NOTE 3

Tangible fixed assets

Fixed assets costing in excess of £1000 are capitalised and are shown at historical cost. Depreciation is provided, after taking into account of any grants receivable. Tangible fixed assets are depreciated at 20% reducing balance.

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 OFFICE FURNITURE AT COST

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Costs £
At Cost 01/04/2023 2,773
Additions -
-
Disposals
Revaluations -
Transfers -
As at 31 March 2023 2,773
Depreciation:
Accumulated Depreciation as at 01/04/2023 (2,773)
-
Charge for the year
At 31 March 2024 (2,773.0)
Net Book Value
Net Book Value at 31 March 2022 0
COMPUTERS & OTHER EQUIMPMENTS
Costs £
At Cost 01/04/2023 45,314
Additions 4,942
-
Disposals
Revaluations -
Transfers -
As at 31 March 2024 50,256
Depreciation:
Accumulated Depreciation as at 01/04/2023 (26,522)
Charge for the year (5,026)
At 31 March 2024 (31,548.0)
Net Book Value
Net Book Value at 31 March 2024 18,708
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NOTE 4

CASH AT BANK AND IN HAND

The Association has a cash balance of £150,978 in its bank account as at 31 March 2024

NOTE 5 CREDITORS

Accounting Fees : £1,300

£1,300

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GOLDEN OPPORTUNITY SKILLS & DEVELOPMENT (GOSAD)

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

NOTE 6

RESERVES:

The charity's reserves at the financial year end of 31/03/24, stands at £168,385 This consists of £140,460 of restricted funds and £27,925 of unrestricted funds. £23,640 of the unrestricted funds has been pacifically ring fenced for emergencies.

Taxation

The charitable company is exempt from taxation under sections 466 to 493 of the Corporation Tax Act 2010

Cash flow statement

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from producing a cash flow statement on the grounds that it is a small company

EMPLOYMENT COSTS

EMPLOYMENT COSTS
2024 2023
£ £
Payroll & HMRC Costs £158,772 £157,469

TRUSTEES EXPENSES

The trustees neither received nor waived any emoluments during the period Trustees claimed for travelling expenses during the year. These amounted to £ £Nil).

RELATED PARTIES

There are no related parties transactions to be disclosed

END

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