## **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|