2022-03-31-accounts

Goldsmiths Community Association Limited

Annual Report and Financial Statements For the year ended 31 March 2022

Charity No: 1141475

Goldsmiths Community Association Limited

Annual accounts for the year end 31 March 2022

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 26th October 2000.

Significant activities

This last year in the main has been a very positive one for Goldsmiths as we continue to play a vital role in our community. The global COVID-19 pandemic is not over but, as public spaces have begun to open up, we have been delighted that so many of our older groups, running activities from the centre, have returned to our space.

We are also so excited that there are now far more regular activities, catering for a more diverse group of adults and children and some can be offered free of charge to the participants.

We know that loneliness rocketed during the pandemic and people need spaces where they can come together and share food, music, games, ideas, and, increasingly, a warm safe space to spend time.

As well as more weekly activities, we have also seen a significant increase in groups using our larger spaces for occasional community events - we have hosted Bring Me Sunshine, Lewisham Positive Ageing Council and Entelchy Arts delivering cheery gatherings and welcoming us across the threshold rather than treating us as only the hiring agency. We were also part of a successful Arts Council collaboration with Goldsmiths Dance Academy, Bring Me Sunshine and Lewisham Positive Ageing Council with a well attended Jubilee Jive.

Partnership is an increasing focus of the work of our charity - during 2022 we have worked with numerous other organisations, charities and community buildings to share skills, space, knowledge, expertise and “stuff”. Our role in partnership for work in the area has been augmented with council funding since March. One focus is the work to support Friends of Forster Memorial Park, collaborating with Peace of Cake and others, e.g. remembering local teacher Sabina Nessa and supporting the park centenary events. We were also pleased to strengthen our work to support Lewisham's sanctury borough commitments, providing storage space for the response to the Ukranian refugee crisis.

One of our Jewels in the Crown from 2020 was the Give A Song Project - spreading joy through the pandemic. We provided a space and infrastructure from which local musicians could cheer people up, especially those who were isolated due to COVID. The project grew beyond our wildest dreams, largely thanks to the amazing energy of the musicians themselves, and has evolved into a service which is far more interactive than originally envisioned. Now an independent Community Interest Company, it’s great to see their next steps and build on the model of how we supported them to nurture other local creatives.

Charity No: 1141475

Goldsmiths Community Association Limited Annual accounts for the year end 31 March 2022 Trustees’ Annual Report (continued)

It was great to be one of the Day One sites for the London Borough of Culture and to continue to weave culture into the work we do, and enable, throughout 2022. We hosted a Patchwork Activity in our Apple tree cafe on day one - the work then became part of a broader community patchwork. We supported Teatro Vivo with space to practise and perform and have hostedTough Boys, a Queer Dance Collective, as emerging creatives in residence. We also welcomed the brilliant Sing A Book CIC to our centre, using funding to promote black people's involvement in Musical Theatre, and hosted Into Da Endz. More recently, the Rio Ferdinand Foundation led free Youth Provision includes spoken word sessions which have been producing amazing and thought-provoking Beats, even in the early days.

COVID response and public health - We started the year when the COVID pandemic was still, sadly, having a huge impact on many of our communities. We have been proud to play our part, hosting the COVID Testing Site until the end of March 2022 and welcoming colleagues from Sevenfields Primary Care Network from January 2022, initially focussed on delivering the vaccination programme and now extended to broader community wellbeing and public health initiatives.

Volunteers

During the period ended 31 March 2022 the charity relied a great deal on volunteers to perform a variety of tasks, including organising and staffing community events, sorting donations to the Apple Tree charity shop, preparation of foods for sale in the cafe, sales assistants in the shop and cafe, supporting the Silver Surfers and gardening on site. We also continue to have an amazing collaboration with the Blue Ribbon Foundation, with the Downham Men's Group volunteering significantly improving our lovely old building.

Achievements and Performance

Charitable activities

A summary of results for the year is shown in the accounts. The trustees consider that the performance of the charity has been progressive and satisfactory. Total income for the year was £205,622. Total expenditure was £200,192. Total fund reserves as at 31 March 2022 amount to £53,129.

Internal and external factors

2022 has also seen some challenges. Like many charities whose remit includes managing old buildings we have had what we think is more than our fair share of power cuts, roof issues, drains and old things that need fixed or replaced to deal with. But we are fortunate to have an amazing team of volunteers, including our friends from Downham Men’s Group, to help us deal with many of these problems. And, thanks to income from tenants and hires, as well as from Lewisham Council funding, we are working through a list of prioritised repairs and building improvements. Our focus is on improving security, disabled access, energy efficiency and addressing general health and safety issues, including for our staff as well as users. Sadly we cannot move as quickly as we would have liked.

We anticipate that the current economic crisis will have a significant impact on many members of our community and we are commited to continuing to provide and extend our offer of affordable and free activities. We are working with our NHS partners to identify funding to support us providing a warm and welcoming space for our community to come together.

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.

Charity No: 1141475

Annual accounts for the year end 31 March 2022 Trustees’ Annual Report (continued)

Goldsmiths Community Association Limited

Financial Review (continued)

Future developments

In 2023 onwards, the charity hopes to focus on fundraising from community activities which are grantaided, increase our partnership with the NHS delivering health activities from our building, maximise income from regular hires and to continue with low or no “party hires” apart from low key daytime activities. The trustees are in consultation with staff to consider a staff restructure to help achieve our changing focus and key objectives:

1. Ensure 100% Health and Safety Compliance and Premises Repairs and Maintenance Plan

2. Leader in Volunteer/Community Development Programme in the area

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

7. Increase number of activities which are free at the point of use and work in partnership with other agencies to mitigate the cost of living crisis

Structure, Governance and Management

Governing

The charity is governed by a board of trustees. Charitable activities are managed by a team of 6 employees (two posts are currently vacant) and assisted by a strong and able team of volunteers from our

Organisational Structure

The trustees meet when required and at least monthly to review the strategy and business plan of the charity. In addition, individual Trustees contribute their time and talents in specific areas where the charity has requirements including line management of the Managing Director, financial management, premises support, fundraising and communications.

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. The trustees are also required to ensure that the charity complies will all elements of safeguarding law and will seek external advice from the Lewisham safeguarding leads where required.

Reference and Administrative details

Charity name:	Goldsmiths Community Association Limited
Registered charity number:	1141475
Charity’s principal address:	Goldsmiths Community Centre
	Castillon Road
	London
	SE6 1QD

Charity No: 1141475

Annual accounts for the year end 31 March 2022 Trustees’ Annual Report (continued)

Goldsmiths Community Association Limited

Names of the charity trustees who manage the charity are:

Susanna East (Chair) Mark Ingleby Louis Vine Israel Oyebamiji (appointed 26/07/2022) Bala Vallipuram (appointed 26/07/2022)

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: 2/12/22

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 2022

I report to the trustees on my examination of the accounts of Goldsmiths Community Association Limited (“the Charity”) for the year ended 31 March 2022, 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:

· the accounting records were not kept in accordance with section 130 of the Charities Act; or

· the accounts did not accord with the accounting records; or

Independent examiner's · the accounts did not comply with the applicable requirements concerning the statement 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: 20/12/2022

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 2022

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 Total Net income/(expenditure) Total Net income/(expenditure) Net movement in funds Total funds brought forward Total funds carried forward	Unrestricted funds Restricted funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F03 F04 F05 21,274 52,352 - 73,626 113,074 131,996 - - 131,996 35,351
	153,270 52,352 - 205,622 148,425
	73,637 39,402 - 113,039 98,719 77,510 9,643 - 87,153 62,138
	151,147 49,045 - 200,192 160,857
	2,123 3,307 - 5,430 (12,432)
	- - - - -
	2,123 3,307 - 5,430 (12,432)
	2,123 3,307 - 5,430 (12,432)
	47,453 246 - 47,699 60,131 - - - - -
	49,576 3,553 - 53,129 47,699

Goldsmiths Community Association Limited Charity No: 1141475

Annual accounts for the year end 31 March 2022

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 Total funds Signed on behalf of all the trustees	Unrestricted funds Restricted funds Endowment funds Total this year Total last year £ £ £ £ £ 4,612 - - 4,612 6,787 46,893 3,553 - 50,446 52,176
	51,505 3,553 - 55,058 58,963
	1,330 599 - 1,929 11,264
	1,330 599 - 1,929 11,264
	50,175 2,954 - 53,129 47,699
	50,175 2,954 - 53,129 47,699
	49,576 3,553 - 53,129 47,699
	49,576 3,553 - 53,129 47,699
	Signature	Print Name	Date
		Susanna East	2/12/2022

Charity No: 1141475

Goldsmiths Community Association Limited

Annual accounts for the year end 31 March 2022

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

2.1 INCOME
Recognition of income	Income is included in the Statement of Financial Activities (SoFA) when:
	· the charity becomes entitled to the resources;
	· it is more likely than not that the trustees will receive the resources;
	· 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 2022

Notes to the accounts (continued)

No material item of deferred income has been included in the accounts.

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.

	be received.
Note 3	Analysis of income	Unrestricted	Restricted	Total funds	Prior year
	Analysis	£	£	£	£
Donations and grants:	Lewisham Main Grant	-	25,000	25,000	18,750
	Community Waves Donation	-	-	-	5,834
	L&Q Path	-	-	-	10,000
	Covid Cash Grants	18,391	-	18,391	42,222
	Furlough Pay Received	-	14,352	14,352	35,559
	Locality GLA Mayor Grant	-	12,750	12,750	-
	Food Growing Activity Grant	-	250	250	-
	Other donations	2,883	-	2,883	709
	Total	21,274	52,352	73,626	113,074
Other income:	Hire of premises	77,488	-	77,488	31,621
	Covid testing site rent	49,035	-	49,035	-
	Apple Tree sales	1,497	-	1,497	1,173
	Fund raising	3,479	-	3,479	-
	Other income	497	-	497	2,557
	Total	131,996	-	131,996	35,351
TOTAL INCOME		153,270	52,352	205,622	148,425
Note 4	Analysis of receipts of government grants
				This year	Last year
	Description			£	£
Government	London Borough of Lewisham			25,000	18,750
	Covid Cash Grants			18,391	42,222
	Furlough Pay Received			14,352	35,559
	Locality GLA Mayor Grant			12,750	-
Other	Other			-	-
	Total			70,493	96,531

Goldsmiths Community Association Limited Charity No: 1141475

Annual accounts for the year end 31 March 2022

Notes to the accounts (continued)

Note 5 Analysis of expenditure

Other Rates Water Consumables Accountancy Consultancy Legal Cleaning Subscriptions Software Bad debts written off Advertising Apple Tree costs Covid testing costs Computer and sound equipment TOTAL EXPENDITURE Repairs and maintenance Insurance Sundry Total other expenditure Total expenditure on charitable Light and heat Pension Telephone and internet Bank charges Staff costs Volunteer expenses Analysis Expenditure on charitable activities Project activities Education and training	Unrestricted Restricted Total funds Prior year £ £ £ £ 73,176 39,083 112,259 98,444 - - - - 434 319 753 - 27 - 27 275
	73,637 39,402 113,039 98,719
	22,124 - 22,124 11,898 2,825 - 2,825 - 2,644 - 2,644 1,244 1,359 370 1,729 1,819 1,339 - 1,339 1,636 428 - 428 555 2,040 - 2,040 1,449 3,623 - 3,623 2,109 9,000 - 9,000 - 8,817 - 8,817 2,563 407 - 407 172 231 231 2,350 - 2,350 5,017 389 - 389 191 367 - 367 226 15,591 9,265 24,856 27,295 2,029 - 2,029 1,252 31 - 31 55 149 149 1,336 1,336 431 8 439 4,657
	77,510 9,643 87,153 62,138
	151,147 49,045 200,192 160,857

Note 6 Details of certain items of expenditure

Fees for examination of the accounts

Fees for examination of the accounts
		This year	Last year
		£	£
Independent examiner’s fees		600	600
6.1 Staff Costs
		This year	Last year
		£	£
Salaries, wages and social security		112,259	98,444
Pension costs (defined contribution scheme)		1,729	1,819
Other employee costs		27	275
	Total staff costs	114,015	100,538
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	6
	Governance	-	-
	Total	6	6

Charity No: 1141475

Goldsmiths Community Association Limited

Annual accounts for the year end 31 March 2022

Notes to the accounts (continued)

Note 7 Cash at bank and in hand

		**This year **	Last year
		£	£
Current Account		114	40,907
CAF Gold Account		23	4,023
CAF Cash Goldsmiths		49,541	6,506
Paypal		163	55
Soldo		501	685
Cash In Hand		104	-
	Total	50,446	52,176

Note 8 Debtors

Analysis debtors

Analysis debtors
		**This year **	Last year
		£	£
Trade debtors		4,612	6,787
Special schemes		-	-
	Total	4,612	6,787
Note 9 Creditors and accruals

Analysis of creditors and accruals

Analysis of creditors and accruals
		**This year **	Last year
		£	£
Suppliers		1,187	996
Give-A-Song Project		599	9,424
Customer deposits		-	495
Accruals		143	349
	Total	1,929	11,264

The £599 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 2022. This will be paid over after the year-end.

Charity No: 1141475

Goldsmiths Community Association Limited

Annual accounts for the year end 31 March 2022

Notes to the accounts (continued)

Note 10 Charity funds

10.1 Details of material funds held and movements during the CURRENT reporting period

Fund names Fund Raising Lewisham Main Grant Macmillan Fundraising Locality GLA Mayor Grant General Unrestricted Fund Community Waves Food Growing Activities Peace of Cake

Furlough Pay Received Other funds

		Fund					Fund
		balances					balances
Type PE, EE **R or UR ***	Purpose and Restrictions	brought forward	Income	Expenditure	Transfers	Gains and losses	carried forward
		£	£	£	£	£	£
UR	General fundraising with no restrictions	2,301	3,563	(3,715)	-	-	2,149
R	Restricted community manager funding	-	25,000	(25,000)	-	-	-
R	Restricted funds for Macmillan charity	68	-	-	-	-	68
R	Restricted community funding	-	12,750	(9,265)	-	-	3,485
UR	General funds with no restrictions	39,318	149,707	(145,613)	100	-	43,512
UR	General funds with no restrictions	5,834	-	(1,919)	-	-	3,915
R	Restricted project funding	-	250	(180)	(70)	-	-
R	Restricted funds raised for a project	178	-	(148)	(30)	-	-
R	Restricted government funding for wages	-	14,352	(14,352)	-	-	-
UR	General funds with no restrictions	-	-	-	-	-	-
	Total Funds	47,699	205,622	(200,192)	-	-	53,129
	Total Restricted Funds	246	52,352	(48,945)	(100)	-	3,553
	Total Unrestricted Funds	47,453	153,270	(151,247)	100	-	49,576
		47,699	205,622	(200,192)	-	-	53,129

* 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

Fund Raising Macmillan Fundraising Locality GLA Mayor Grant Community Waves

Purpose of the designation	Amount
-	£
Thanks to all the volunteers and goldsmiths dance academy for all the fund raising done over the year and this is allocated to	2,149
Funds raised for Macmillan charity, to be transferred to the charity in 2021	68
Restricted community funding	3,485
A donation was given which has to be allocated to Health and Black Lives Matters related projects in the area	3,915