## **Goldsmiths Community Association Limited** ## **Annual Report and Financial Statements** **For the year ended 31 March 2021** Charity No: 1141475 **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 **Trustees’ Annual Report** ## **Objectives and Activities** ## **Objects** To promote the benefit of the inhabitants of Downham and Hither Green and the neighbourhood (hereinafter called ‘the area of benefit’) without distinction of sex or of political, religious, race or colour or other opinions by associating the local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants. To establish or to secure the establishment of a Community Centre (hereinafter called ‘the Centre’) and to maintain and manage, or to co-operate with any local statutory authority in the maintenance and management of such a Centre for activities promoted by the Association and its constituent bodies in furtherance of the above objects. ## **Constitution** The Charity was registered as a charity with the Charity Commission under registration number 1141475 on 26 October 2000. ## **Significant activities** The charity conducted projects for Whitefoot and Downham residents with the following activities (COVID19 pandemic adapted): Collaboration with Rushey Green Time Bank on the setup of Lewisham Local. Partnered with Mamakind and Downham and Whitefoot Food Project Plus Lewisham Foodbank. We were actively involved in the distribution of essential baby items (nappies), orange juice and fresh fruit, as well as books and donated school uniforms. The Centre also served as a distribution point for free packed lunches during the October half-term as part of the Mayor's Packed Lunch Appeal. We continued to host the Blue Ribbon Foundation - Downham Men’s Group members who were able to continue grounds maintenance and gardening sessions in a safe socially distanced way. Led by our Operations Manager, we achieved a full review of policies, processes and procedures to enable the centre to operate safely and we were able to share our risk assessments as examples of good practice to other community groups. We reopened gradually over summer and into Autumn and welcomed new groups to the centre including Goldsmiths Community Home Education Group and South Skate. In August our Operations Manager and Apple Tree volunteer team introduced the Apple Tree Market Place as an alternative outlet for the charity shop and cafe. The events raised our income, provided purpose for our volunteers and a COVIDsafe outdoor event for the local community when they had lost many of their usual activities. One of our most significant activities is our involvement with the Give A Song project, a local musician-led project which brings music to isolated and shielded members of our community, many of whom have dementia. In December, we participated in the Corbett Christmas Christmas trail by hosting a mini trail through the centre grounds. In January 2021, we worked with Lewisham Council, The Department Health and Social care, G4S, in consultation with key local stakeholders, to set up a COVID test site (LTS) serving the local community and improve testing access and uptake for a period of six months, commencing in March 2021. ## **Achievements and Performance** ## **Charitable activities** A summary of results for the year is shown on page 6 of this report. The trustees consider that the performance of the charity has been progressive and satisfactory. Total income for the year was £148,425. Total expenditure was £160,857. Total fund reserves as at 31 March 2021 amount to £47,453. Charity No: 1141475 **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 **Trustees’ Annual Report (continued)** ## **Internal and external factors** As a result of the Covid-19 pandemic the centre was closed to the public during lockdown though staff, trustees and volunteers continued to maintain contact with local residents, and keep up community spirit through various community development activities as reflected above in our significant activities during this financial year. We used the enforced closure as an opportunity to make significant progress in establishing a programme of planned preventative maintenance in 2020 and made several key improvements to help ensure the building is HSE compliant. Our initial budget forecast for 2020-21 was positive, with a predicted surplus. Our main revenue streams come from activities and events hire. With the closure of the building due to the pandemic we lost a critical revenue stream. Our Business Development Manager led a successful campaign for community centres to be included as part of the government's business support grant schemes and we were able to receive core cost funding of £25,000. At the start of the second lockdown another round of cash support grants were announced, again excluding community centres. Our BDM put further pressure on local government to recognise community centres as vital community assets in need of support, and helped us to secure further support grants, thereby reducing the financial impact of COVID-19 and the forecast deficit for 2020-21. Trustees and staff worked together on developing a business plan and strategy to improve our financial sustainability continuing to strengthen our relationship with Lewisham council, our charity partners, local community groups and ward residents, and work together to build resilience and connection and meet the health and wellbeing needs of our community. ## **Financial Review** ## **Reserves policy** The Trustees have deemed it prudent to have a policy of having unrestricted funds held by the charity of at least six months of resources. They will be making efforts to achieve this. ## **Future developments** The association has set 3-5 Year Breakthrough Objectives: 1. Achieve 100% Health and Safety Compliance and Premises Repairs and Maintenance Plan 2. Leader in Volunteer/Community Development Programme in the Borough 3. Achieve Great Place To Work status 4. Develop a compelling brand message and implement an effective and sustainable communications strategy 5. Financial stability - consistent turnover and steady growth 6. Governance - Establish Credible and Trusted Charity Reputation ## **Structure, Governance and Management** ## **Governing** The charity is governed by a board of trustees. Charitable activities are managed by a team of 6 employees (1 f/t, 5 part-time) and a reliable team of volunteers. ## **Organisational Structure** The trustees meet when required and at least monthly to review the strategy of charity. During March 2020-March 2021 meetings were held fortnighlty to ensure prompt response to ongoing challenges associated with Covid-19. ## **Risk Management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Charity No: 1141475 **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 **Trustees’ Annual Report (continued)** ## **Reference and Administrative details** Charity name: Goldsmiths Community Association Limited Registered charity number: 1141475 Charity’s principal address: Goldsmiths Community Centre, Castillon Road, Catford SE6 1QD Names of the charity trustees who manage the charity are: Susanna East (Chair) Alan Till Mark Ingleby Louis Vine (appointed October 2020) The following indiviudals resigned as board members during the 2020-21 financial year. Elizabeth Wood (November 2020), Charles James (May 2020), Shipra Ogra, Acting Chair April-July 2020 (stepped down at AGM January 2021), Israel Oyebamiji (stepped down at AGM January 2021), Liezel Spratley (resigned to take up interim paid appointment - December 2020). ## **Declarations** The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees ## **Signature:** **Full name:** Susanna East **Date: 30/07/2021** **Accounting Services Limited | Chartered Accountants** ## **Independent Examiner’s Report on the Accounts** ## **Report to the Trustees of Goldsmiths Community Association Limited (Charity no: 1141475) for the Year Ended 31 March 2021** I report to the trustees on my examination of the accounts of Goldsmiths Community Association Limited (“the Charity”) for the year ended 31 March 2021, set out on pages 6 to 12. As the Charity's trustees, you are responsible for the preparation of the accounts in **Responsibilities** accordance with the requirements of the Charities Act 2011 (“the Act”). **and basis of report** 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. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: ꞏ the accounting records were not kept in accordance with section 130 of the Charities Act; or ꞏ the accounts did not accord with the accounting records; or ## **Independent examiner's statement** ꞏ the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an 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 this report in order to enable a proper understanding of the accounts to be reached. **Signed:** > **Date:** 31 July 2021 **Name:** Given Chanetsa-Mazarura, FCA **Professional body:** Institute of Chartered Accountants in England and Wales (Membership No.: 2649792) **Address:** VE Accounting Services Limited Chartered Accountants 125 Temple Hill Dartford DA1 5TU Charity No: 1141475 ## **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 ## **Statement of Financial Activities** |**Incoming resources (Note 3)**
**Income and endowments from:**
Donations and grants
Other income
**Resources expended (Note 5)**
**Expenditure on:**
Charitable activities
Other
Net gains/(losses) on investments
**_Reconciliation of funds:_**
Transfers
**Net income/(expenditure)**
**_Net movement in funds_**
Total funds brought forward
**_Total funds carried forward_**
**_Total_**
**Net income/(expenditure)**
**_Total_**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F03
F04
F05
58,697
54,377
-
113,074
29,770
35,351
-
-
35,351
121,948| |---|---| ||**94,048**
**54,377**
**-**
**148,425**
**151,718**| ||44,121
54,598
-
98,719
123,485
62,138
-
-
62,138
43,258| ||**106,259**
**54,598**
**-**
**160,857**
**166,743**| ||| ||**(12,211)**
**(221)**
**-**
**(12,432)**
**(15,025)**| ||-
-
-
-
-| ||**(12,211)**
**(221)**
**-**
**(12,432)**
**(15,025)**| ||(12,211)
(221)
-
(12,432)
(15,025)| ||59,953
178
-
60,131
75,156
(289)
289
-
-
-| ||**47,453**
**246**
**-**
**47,699**
**60,131**| **Goldsmiths Community Association Limited** Charity No: 1141475 Annual accounts for the year end 31 March 2021 |**Balance Sheet**|**Balance Sheet**|**Balance Sheet**|**Balance Sheet**| |---|---|---|---| |**Current assets**
**Debtors (Note 8)**
**Cash at bank and in hand (Note 7)**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 9)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Restricted and unrestricted funds (Note**
**10)**
**_Total funds_**
Signed on behalf of all the trustees|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
6,787
-
-
6,787
13,731
51,930
246
-
52,176
55,565||| ||**58,717**
**246**
**-**
**58,963**
**69,296**||| ||11,264
-
-
11,264
9,165||| ||**11,264**
**-**
**-**
**11,264**
**9,165**||| ||||| ||**47,453**
**246**
**-**
**47,699**
**60,131**||| ||||| ||**47,453**
**246**
**-**
**47,699**
**60,131**||| ||47,453
246
-
47,699
60,131||| ||**47,453**
**246**
**-**
**47,699**
**60,131**||| ||||| ||Signature|Print Name|Date| |||Susanna East|30/07/2021| Charity No: 1141475 **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 **Section C Notes to the accounts** ## Note 1: **Basis of preparation** ## **1. Basis of accounting** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with (i) the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, (ii) the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and (iii) the Charities Act 2011 ## **Note 2: Accounting policies 2.1 INCOME** **Recognition of income** Income is included in the Statement of Financial Activities (SoFA) when: ꞏ the charity becomes entitled to the resources; ꞏ it is more likely than not that the trustees will receive the resources; and ꞏ the monetary value can be measured with sufficient reliability. **Offsetting** There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. **Grants and donations** Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). In the case of performance related grants, income is recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). **Government grants** The charity has received government grants in the reporting period **Support costs** The charity has incurred expenditure on support costs. **Volunteer help** The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. ## **2.2 EXPENDITURE AND LIABILITIES** **Liability recognition** Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. **Governance and support** Support costs have been allocated between governance costs and other support. **costs** Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. **Grants with performance** Where the charity gives a grant with conditions for its payment being a specific level of **conditions** service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. **Grants payable without** Where there are no conditions attaching to the grant that enables the donor charity to **performance conditions** realistically avoid the commitment, a liability for the full funding obligation must be recognised. Charity No: 1141475 ## **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 ## **Notes to the accounts (continued)** **Deferred income** No material item of deferred income has been included in the accounts. **Creditors** The charity has creditors which are measured at settlement amounts less any trade **Provisions for liabilities** A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date ## **2.3 ASSETS** **Debtors** Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. ## **Note 3 Analysis of income** |**Donations and grants:**
Lewisham Main Grant
Community Waves Donation
L&Q Path
Covid Cash Grants
Furlough Pay Received
Other donations
**Total**
**Other income:**
Hire of premises
Apple Tree sales
Other income
**Total**
**TOTAL INCOME**
**Analysis**|**Unrestricted**
**Restricted**
**Total funds**
**Prior year**
**£**
**£**
**£**
**£**
-
18,750
18,750
29,715
5,834
-
5,834
-
10,000
-
10,000
-
42,222
-
42,222
-
-
35,559
35,559
-
641
68
709
55| |---|---| ||58,697
54,377
113,074
29,770| ||31,621
-
31,621
104,518
1,173
-
1,173
15,590
2,557
-
2,557
1,840| ||35,351
-
35,351
121,948| ||| ||94,048
54,377
148,425
151,718| ## **Note 4 Analysis of receipts of government grants** |**Government**
Covid Cash Grants
Furlough Pay Received
**Other**
**Total**
Other
**Description**
London Borough of Lewisham|**This year**
**Last year**
**£**
**£**
18,750
29,715
42,222
-
35,559
-
-
-| |---|---| ||96,531
29,715| **Goldsmiths Community Association Limited** Charity No: 1141475 ## Annual accounts for the year end 31 March 2021 |**Notes to the accounts (continued)**|**Notes to the accounts (continued)**|**Notes to the accounts (continued)**| |---|---|---| |**Unrestricted**
**Restricted**
**Total funds**
**Prior year**
**£**
**£**
**£**
**£**
43,846
54,598
98,444
119,563
-
-
-
-
-
-
-
3,922
275
-
275
-
44,121
54,598
98,719
123,485
**Other**
11,898
-
11,898
18,905
Rates
1,244
-
1,244
2,810
1,819
-
1,819
3,060
1,636
-
1,636
897
Consumables
555
-
555
741
Accountancy
1,449
-
1,449
1,428
Consultancy
2,109
-
2,109
-
Legal
-
-
-
3,049
Cleaning
2,563
-
2,563
5,732
Postage and stationery
-
-
-
106
Subscriptions
172
-
172
235
Bad debts written off
5,017
-
5,017
-
Advertising
191
-
191
-
226
-
226
172
27,295
-
27,295
2,201
1,252
-
1,252
3,705
Apple Tree costs
55
-
55
-
4,657
-
4,657
217
62,138
-
62,138
43,258
106,259
54,598
160,857
166,743
Staff costs
Volunteer expenses

**Note 5 Analysis of expenditure**
**Analysis**
**Expenditure on**
**charitable**
**activities**
Project activities
Education and training
**Total expenditure on charitable**
**activities**
Light and heat
Pension
Telephone and internet
Bank charges
Repairs and maintenance
Insurance
Sundry
**Total other expenditure**
**TOTAL EXPENDITURE**
**Note 6 Details of certain items of expenditure**
**Fees for examination of the accounts**|**Unrestricted**
**Restricted**
**Total funds**
**Prior year**
**£**
**£**
**£**
**£**
43,846
54,598
98,444
119,563
-
-
-
-
-
-
-
3,922
275
-
275
-
|| ||44,121
54,598
98,719
123,485|| ||11,898
-
11,898
18,905
1,244
-
1,244
2,810
1,819
-
1,819
3,060
1,636
-
1,636
897
555
-
555
741
1,449
-
1,449
1,428
2,109
-
2,109
-
-
-
-
3,049
2,563
-
2,563
5,732
-
-
-
106
172
-
172
235
5,017
-
5,017
-
191
-
191
-
226
-
226
172
27,295
-
27,295
2,201
1,252
-
1,252
3,705
55
-
55
-
4,657
-
4,657
217|| ||62,138
-
62,138
43,258|| |||| ||106,259
54,598
160,857
166,743|| |**Total**
Pension costs (defined contribution scheme)
Other employee costs
**Total staff costs**
**6.2 Average head count in the year**
The parts of the charity in which the employees work
Charitable activities
Governance
Independent examiner’s fees
**6.1 Staff Costs**
Salaries, wages and social security||**This year**
**Last year**
**£**
**£**
600
-
**This year**
**Last year**
**£**
**£**
98,444
119,563
1,819
3,060
-
-| |||100,263
122,623| |||**This year**
**Last year**
**Number**
**Number**
6
5
-
-| |||6
5| |**Fees for examination of the accounts**|||| |---|---|---|---| |||**This year**|**Last year**| |||**£**|**£**| |Independent examiner’s fees||600|
-| |**6.1 Staff Costs**|||| |||**This year**|**Last year**| |||**£**|**£**| |Salaries, wages and social security||98,444|
119,563| |Pension costs (defined contribution scheme)||1,819|
3,060| |Other employee costs||-|-| ||**Total staff costs**|100,263|
122,623| |**6.2 Average head count in the year**||**This year**
**Number**|**Last year**
**Number**| |The parts of the charity in which the employees work|Charitable activities|6|
5| ||Governance|-|-| ||**Total**|6|
5| Charity No: 1141475 ## **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 **Notes to the accounts (continued)** |**Note 7 Cash at bank and in hand**|||| |---|---|---|---| |||**This year **|**Last year**| |||**£**|**£**| |Deposit Account||-|
2| |Current Account||40,907|
41,440| |CAF Gold Account||4,023|
10,000| |CAF Cash Goldsmiths||6,506|
2,966| |Split Income Holding||-|
756| |Paypal||55|
-| |Soldo||685|
100| |Cash In Hand||-|301| ||**Total**|52,176|
55,565| |**Note 8 Debtors**|||| |**Analysis debtors**|||| |||**This year **|**Last year**| |Trade debtors
Special schemes|**Total**|**£**
6,787
-
6,787|**£**

8,337
5,394

13,731| |**Note 9 Creditors and accruals**|||| |**Analysis of creditors and**|||| |||**This year **|**Last year**| |||**£**|**£**| |Suppliers||996|
684| |Give-A-Song Project||9,424|
-| |PAYE||-|
5,931| |Customer deposits||495|
-| |Accruals||349|
2,550| ||**Total**|11,264|
9,165| The £9,424 above was received on behalf of the Give-A-Song project and is still to be paid to the project owners as at 31 March 2021. This will be paid over in 2021. Charity No: 1141475 **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2021 ## **Notes to the accounts (continued)** ## **Note 10 Charity funds** ## **10.1 Details of material funds held and movements during the CURRENT reporting period** ||||**Fund**|||||**Fund**| |---|---|---|---|---|---|---|---|---| ||**Type PE, EE**
**R or UR ***|
**Purpose and Restrictions**|**balances**
**brought**
**forward**|**Income**|**Expenditure**|**Transfers**|**Gains and**
**losses**|
**balances**
**carried**
**forward**| |**Fund names**|||**£**|**£**|**£**|**£**|**£**|**£**| |Christmas Lunch|UR|General fundraising with no restrictions|11|-|-|(11)|-|
-| |Fund Raising|UR|General fundraising with no restrictions|2,301|-|-|-|-|
2,301| |Lewisham Main Grant|R|Restricted community manager funding|-|18,750|(19,039)|289|-|
-| |Macmillan Fundraising|R|Restricted funds for Macmillan charity|-|68|-|-|-|
68| |General Unrestricted Fund|UR|General funds with no restrictions|56,883|88,214|(106,057)|278|-|
39,318| |Little Rascals|UR|General funds with no restrictions|684|-|-|(684)|-|
-| |Mix Tape|UR|General funds with no restrictions|72|-|(200)|128||-| |Community Waves|UR|General funds with no restrictions|-|5,834|-|-|-|
5,834| |Peace of Cake|R|Restricted funds raised for a project|178|-|-|-|-|
178| |Furlough Pay Received|R|Restricted government funding for wages|-|35,559|(35,559)|-|-|
-| |Other funds|UR|General funds with no restrictions|2|-|(2)|-|-|
-| |||**Total Funds**|60,131|148,425|(160,857)|-|-|
47,699| |||**Total Restricted Funds**|178|18,818|(19,039)|289|-|
246| |||**Total Unrestricted Funds**|59,953|129,607|(141,818)|(289)|-|
47,453| ||||60,131|148,425|(160,857)|-|-|
47,699| _* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds_ ## **10.2 Designated funds** ## **Fund name** Lewisham Main Grant Macmillan Fundraising Piece of Cake Furlough Pay Received ## **Purpose of the designation** Funding of the community developmenet manager by the council Funds raised for Macmillan charity, to be transferred to the charity in 2021 Specific fund raising to be spent on Piece of Cake project in 2021 Government funds recived for salaries during COVID 19 pandemic **Amount£** - 68 178 -