## **Goldsmiths Community Association Limited** # **Annual Report and Financial Statements For the year ended 31 March 2025** Charity No: 1141475 **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2025 **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 26th October 2000. ## **Achievements and Performance** The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and activities. Our main activities continued to focus on tackling social isolation, improving community wellbeing, and maintaining a vital, affordable hub for local residents. ## **Core Programmes and Impact:** ## **The Warm Welcome Hub** A successful bid to Lewisham Local secured funding to open the Apple Tree space for a Warm Welcome Hub three mornings each week. This initiative welcomed vulnerable members of the community, providing hot drinks and tasty snacks. Dedicated volunteer support enabled the continuation of this essential service through the summer and led to the establishment of regular activities. The programme saw a steady increase in numbers, with an average of 11.2 visitors each session, demonstrating a clear need for this social lifeline. ## **Promoting Diversity and Inclusion (NCIL Funding)** The award of Lewisham NCIL funding (£10,000) was specifically used to support new and developing independent groups from a BAME (Black, Asian, and Minority Ethnic) background. This was achieved by offering introductory free and heavily subsidised use of spaces. Examples of the groups supported include volleyball sessions and the Coco Collective gardening initiative. This strategic subsidy directly supported inclusion and helped underserved segments of the community establish and grow their own self-led activities. ## **Supporting Independent Community Groups** We provided affordable space and support to numerous independent, volunteer-led initiatives across the year. The centre hosted a wide variety of activities, including dance, science and maths tuition, cultural dance and language classes, martial arts, and faith groups, that directly address local needs. Our affordable rates enable these groups to thrive, fostering a strong sense of community ownership and collective action. ## **Volunteer support** We are immensley grateful to note the reestablishment of a growing team of dedicated and talented volunteers whose support enables us to deliver valuable services. We are pleased to report that the We specifically acknowledge the invaluable contribution of the Downham Men’s Group, who worked voluntarily to support with essential tasks and maintenance throughout the year. Their efforts were instrumental in maintenance projects, particularly within the gardens, culminating in the achievement of the inner courtyard as a sanctuary space for community use. ## **Strategic Partnerships and Tenants** We continued to work closely with key long-term tenants and partners: Sevenfields Primary Care Network (PCN) (vital NHS services), Goldsmiths Community Nursery (high-quality early years provision), and Teekay Care Services (social care support). Our relationship with these organisations ensures that essential health, care, and education services remain accessible within our community, anchoring the centre as a hub for critical social infrastructure. Critically, these tenancies also secure a consistent and substantial unrestricted income stream that is crucial for the centre's long-term sustainability and operational viability. **Goldsmiths Community Association Limited** Charity No: 1141475 Annual accounts for the year end 31 March 2025 **Trustees’ Annual Report (continued)** ## **Financial Review** ## **Charitable Activities** The accompanying accounts present a summary of the financial results for the year. The trustees are satisfied that the charity’s performance during the year has been stable and cautiously positive. Total income for the year amounted to £157,792, with total expenditure of £154,261. As of 31 March 2025, total fund reserves stood at £67,801. Income for the period from April 2024 to March 2025 increased slightly from £155,666 to £157,792, representing a modest but welcome improvement following the previous year’s slight increase. This stabilisation in income reflects a steady recovery in hall bookings, with both returning and new user groups contributing to a consistent and dependable revenue stream. Expenditure rose from £131,194 in the prior year to £154,261. This increase was largely due to higher staff-related costs, driven by expanded staffing levels and an uplift in pay rates by the London Living Wage. Utility costs also increased, reflecting greater building usage as activities resumed and contract renewals at higher prevailing market rates. Cleaning and operational costs remained broadly in line with expectations. The organisation also continued to invest in essential building maintenance, including boiler repairs and other critical repairs, to ensure the long-term sustainability of the premises. By the end of the financial year, the charity recorded a modest surplus of £3,531, compared with a surplus of £24,472 in the previous year. This positive outcome has contributed to rebuilding reserves and provides a stronger financial foundation for the future. Looking ahead, the trustees remain committed to enhancing the building and expanding the services available to the local community. While financial challenges persist, particularly regarding inflationary pressures and funding, the charity remains focused on long-term sustainability and resilience as it continues to support the needs of its users. ## **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. Based on the 2024/2025 unrestricted expenditure of £140,472, this target is approximately £70,236. With total unrestricted funds carried forward of £65,603, the charity is on course to achieve its target reserves policy in the next financial year, demonstrating sound financial management. ## **Internal and external factors** The challenges of managing and maintaining a large and ageing building continued through 2024-25. We are blessed to have the support of an amazing team of volunteers, including Downham Men's group who helped achieve many routine tasks for a minimal costs. We are pleased to note that our NHS tenants have increased the services they offer from the centre and welcome the extra revenue this brings. Our dedicated staff team are working hard to ensure regular monitoring and we have budgeted for a programme of planned maintenance. We are also delighted to welcome new regular hirers during 2025 and with the development of new partnerships and initiatives we look forward to the centre being busier in 2026. 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 have applied for funding to support the continuation of providing a warm and welcoming space for our community to come together. ## **Future developments** Funding and Programmes: The successful bid to the National Lottery Community Fund, securing £17,000 in 2025/2026, will be used to establish a regular and varied programme of activities that respond to and reflect the community, with a strong focus on inclusion. Furthermore, a strong bid was submitted to continue the successful Warm Welcome Hub into 2026. The charity will continue to pursue a strategy of diverse funding streams to ensure stability. Infrastructure: Building on the £13,452 spent on repairs this year, the Trustees are prioritizing a planned programme of major capital maintenance to protect the historic building and ensure it remains a safe and accessible resource for the community for decades to come. Operational Stability: The focus will be on embedding the new operational structure and capitalizing on the investment in the Operations Manager to further increase the centre's income generation and operational efficiency, thereby strengthening the platform for all charitable activities. ## **Goldsmiths Community Association Limited** Charity No: 1141475 Annual accounts for the year end 31 March 2025 **Trustees’ Annual Report (continued)** ## **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 vacancy) and assisted by a strong and able team of volunteers from our local community and supported through paid contracts for services for Premises and Cleaning support ## **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 Operations and Finance Managers, 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 Names of the charity trustees who manage the charity are: Natasha Olivia Clarkson (Chair) Jade Lauren Nembhard (Vice-Chair) Susanna East (Treasurer) Mark William Ingleby Iris Anne Freda Till Israel Oyebamiji Vallipuram Bala Subramanam ## **Declarations** The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees ## **Signature:** ## **Full name:** **Date: 6th December 2025** ## **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 2025** I report to the trustees on my examination of the accounts of Goldsmiths Community Association Limited (“the Charity”) for the year ended 31 March 2025, 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:** 6th December 2025 **Name:** Given Chanetsa-Mazarura, FCA (for and on behalf of VE Accounting Services Limited) **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 **Goldsmiths Community Association Limite** Charity No: 1141475 Annual accounts for the year end 31 March 2025 ## **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**
**Restricte**
**d funds**
**Endowmen**
**t funds**
**Total**
**funds**
**year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F03
F04
F05
3,035
15,550
-
18,585
26,043
139,207
-
-
139,207 129,623| |---|---| ||**142,242**
**15,550**
**-**
**157,792 155,666**| ||77,050
3,750
-
80,800
63,060
63,422
10,039
-
73,461
68,134| ||**140,472**
**13,789**
**-**
**154,261 131,194**| ||| ||**1,770**
**1,761**
**-**
**3,531**
**24,472**| ||-
-
-
-
-| ||**1,770**
**1,761**
**-**
**3,531**
**24,472**
1,770
1,761
-
3,531
24,472| ||63,833
437
-
64,270
39,798
-
-
-
-
-| ||**65,603**
**2,198**
**-**
**67,801**
**64,270**| **Goldsmiths Community Association Li** Charity 1141475 N Annual accounts for the year end 31 March 2025 ## **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**
**Restricte**
**d funds**
**Endowment**
**funds**
**Total this**
**year**
**Total**
**last year**
**£**
**£**
**£**
**£**
**£**
15,703
-
-
15,703 11,862
54,302
2,198
-
56,500 54,484| ||**70,005**
**2,198**
**-**
**72,203 66,346**| ||4,402
-
-
4,402
2,076| ||**4,402**
**-**
**-**
**4,402**
**2,076**| ||| ||**65,603**
**2,198**
**-**
**67,801 64,270**| ||| ||**65,603**
**2,198**
**-**
**67,801 64,270**| ||65,603
2,198
-
67,801 64,270| ||**65,603**
**2,198**
**-**
**67,801 64,270**| ||-
-
Date
Susanna East
Signature
Print Name| Charity No: 1141475 **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 2025 ## **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: · the charity becomes entitled to the resources; · it is more likely than not that the trustees will receive the resources; and · 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 costs have been allocated between governance costs and other support. **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 Annual accounts for the year end 31 March 2025 ## **Goldsmiths Community Association Limited** ## **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** |**Note 3**|**Analysis of income**||||| |---|---|---|---|---|---| |||**Unrestricted**|**Restricted**||| |||**funds**|**funds**|**Total funds**|**Prior year**| ||**Analysis**|**£**|**£**|**£**|**£**| |**Donations and grants:**|Lewisham Main Grant|-|3,750|
3,750|
10,000| ||Lewisham NCIL Funding|-|10,000|
10,000|
15,000| ||Warm Welcomes|-|1,800|
1,800|
-| ||National Lottery Community Fund|-|-|
-|
412| ||Fund Raising|2,564|-|
2,564|
-| ||Macmillan Fundrasing||-|
-|
210| ||Other donations|471|-|
471|
421| ||**Total**|3,035|15,550|
18,585|
26,043| |**Other income:**|Hire of premises|138,017|-|
138,017|
128,287| ||Apple Tree sales|13|-|
13|
585| ||Other income|1,177|-|
1,177|
751| ||**Total**|139,207|-|
139,207|
129,623| ||||||| |**TOTAL INCOME**||142,242|15,550|
157,792|
155,666| |**Note 4**|**Analysis of receipts of government grants**||||| ||**Description**|||**This year**
**£**|**Last year**
**£**| |**Government**|London Borough of Lewisham|||3,750|
10,000| ||Lewisham NCIL Funding|||10,000|
15,000| |**Other**|National Lottery Community Fund
Other|||-
-|
412

-| ||**Total**|||13,750|
25,412| **Goldsmiths Community Association Limited** Charity No: 1141475 Annual accounts for the year end 31 March 2025 ## **Notes to the accounts (continued)** ## **Note 5 Analysis of expenditure** |**Other**
Water
Consumables
Accountancy
Consultancy
Cleaning
Subscriptions
Software
Bad debts written off
Advertising
Interest paid
**Analysis**
**Expenditure on**
**charitable**
**activities**
Education and training
Staff costs
Project activities
**Total expenditure on charitable**
Light and heat
Pension
Telephone and internet
Bank charges
Repairs and maintenance
Insurance
Computer and sound equipment
Printing and stationery
Sundry
**Total other expenditure**
**TOTAL EXPENDITURE**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**£**
**£**
76,951
3,750
80,701
62,252
-
-
-
688
99
-
99
120| |---|---| ||77,050
3,750
80,800
63,060| ||18,860
-
18,860
13,744
2,446
-
2,446
2,761
1,282
-
1,282
985
678
-
678
740
318
-
318
502
634
-
634
613
9,251
-
9,251
3,943
20,781
-
20,781
16,849
1,316
-
1,316
195
510
-
510
485
383
-
383
-
13
-
13
14
128
-
128
441
3,471
9,981
13,452
23,981
2,675
-
2,675
2,208
63
-
63
-
147
-
147
30
188
-
188
616
278
58
336
27| ||63,422
10,039
73,461
68,134| ||| ||140,472
13,789
154,261
131,194| **Note 6 Details of certain items of expenditure Fees for examination of the accounts** |**Fees for examination of the accounts**||| |---|---|---| |Independent examiner’s fees||**This year**
**Last year**
**£**
**£**
600
600| |**6.1 Staff Costs**||| |Salaries, wages and social security||**This year**
**Last year**
**£**
**£**
80,701
62,252| |Pension costs (defined contribution scheme)||1,282
985| |Other employee costs||99
120| ||**Total staff costs**|82,082
63,357| |**6.2 Average head count in the year**||**This year**
**Last year**
**Number**
**Number**| |The parts of the charity in which the employees work|Charitable activities
Governance|5
5
-
-| ||**Total**|
5
5| Charity No: 1141475 ## **Goldsmiths Community Association Limited** Annual accounts for the year end 31 March 20 **Notes to the accounts (continued)** ## **Note 7 Cash at bank and in hand** |||**This year **|**Last year**| |---|---|---|---| |||**£**|**£**| |CAF Gold Account||46,860|
40,722| |CAF Cash Goldsmiths||7,082|
11,482| |Equals Card||346|
-| |Soldo||-|
298| |Cash In Hand||2,212|
1,982| ||**Total**|
56,500|
54,484| ## **Note 8 Debtors** ## **Analysis debtors** Trade debtors Other debtors ||**This year Last year**
**£**
**£**
14,662
11,862
1,041
-| |---|---| |**Total**|15,703
11,862| ## **Note 9 Creditors and accruals** ## **Analysis of creditors and accruals** |**Analysis of creditors and**
**accruals**||| |---|---|---| |Suppliers||**This year Last year**
**£**
**£**
1,103
310| |Other creditors||2,899
1,766| |Accruals and deferred income||400
-| ||**Total**|4,402
2,076| Charity No: 1141475 ## **Goldsmiths Community Association Limited** ## Annual accounts for the year end 31 March 2025 **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**| |---|---|---|---|---|---|---|---|---| ||||**balance**||||**Gains**|
**balance**| ||**Type PE, EE**
**R or UR ***|
**Purpose and Restrictions**|**s**
**brought**|**Income**|**Expenditur**
**e**|**Transfer**
**s**|**and**
**losses**|
**s**
**carried**| |**Fund names**|||**£**|**£**|**£**|**£**|**£**|**£**| |Fund Raising|UR|General fundraising with no restrictions|-|2,564|-|-|-|
2,564| |Lewisham Main Grant|R|Restricted community manager funding|-|3,750|-|(3,750)|-|
-| |Macmillan Fundraising|R|Restricted funds for Macmillan charity|456|-|-|-|-|
456| |National Lottery Community Fund|R|Restricted community funding|-|-|-|-|-|
-| |Warm Welcomes|R|Restricted funding|-|1,800|(58)|-|-|
1,742| |General Unrestricted Fund|UR|General funds with no restrictions|63,833|139,207|(140,472)|14,202|-|
76,770| |Lewisham NCIL Funding|R|Restricted government funding for wages|(19)|10,000|-|(9,981)|-|
-| |Other funds|UR|General funds with no restrictions|-|471|-|(471)|-|
-| |||**Total Funds**|64,270|157,792|(140,530)|-|-|
81,532| |||**Total Restricted Funds**|437|13,750|-|(13,731)|-|
456| |||**Total Unrestricted Funds**|63,833|144,042|(140,530)|13,731|-|
81,076| ||||64,270|157,792|(140,530)|-|-|
81,532| _* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted_ ## **10.2 Designated funds** **Fund name** Warm Welcomes Macmillan Fundraising **Purpose of the designation Amount £** These are fund allocated to our Warm Welcomes Spaces 1742 Funds raised for Macmillan charity, to be transferred to the charity - Called them and told an email would be sent, still 456