2021-05-31-accounts - Goldstar Creative Marketing

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GOLDSTAR CREATIVE MARKETING LIMITED BY GUARANTEE DIRECTORS’ AND TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

COMPANY NUMBER 08532455 (England and Wales) CHARITY NUMBER 1155107

GOLDSTAR CREATIVE MARKETING CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

	Page
Legal and Administrative Information	1
Report of the trustees	2
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8
Independent Examiner’s Report	11

GOLDSTAR CREATIVE MARKETING

Legal and Administrative Information

Trustees Mrs E L Feldman Mrs S Weiss Mrs R Erblich Mrs P Margolis Mrs R Stern Ms D Joseph Company Number 8532455 Charity Number 1155107 Registered Office 15 Osbaldeston Road London N16 7DJ

GOLDSTAR CREATIVE MARKETING

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021

The trustees, one of whom is a director of the Charity for the purpose of the Companies Act have pleasure in presenting their report and financial statements of the charitable company for the year ended 31 May 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005 in preparing the financial statements of the Charity.

OBJECTIVES OF GOLDSTAR CREATIVE MARKETING

Goldstar Creative Marketing is governed by its Memorandum and Articles of Association. The charity’s objects and its principal activities are:

To develop the capacity and skills of the members of socially and economically disadvantaged communities in such a way that they are better able to identify and help meet their needs and to participate more fully in society.

Goldstar Creative Marketing aims to ensure that people have better chances in life, with better access to training and development to improve life skills.

To promote any other exclusively charitable objects and purposes as the trustees see fit, provided that they are regarded as charitable by the law of England and Wales.

The charity is organised so that the trustees meet regularly to manage its affairs. The charity does not use voluntary assistance. Administration of the charity is dealt with by the trustees

PUBLIC BENEFIT

The trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity’s aims and objectives and in planning future activities and setting grant making policy for the year.

LEGAL STATUS

The company is limited by guarantee and is governed by its memorandum and articles of association dated 16 May 2013. The company is a registered charity - number 1155107.

PRINCIPAL ACTIVITY AND REVIEW OF THE YEAR

The principal activities of the charity include:

The Goldstar Employability and Soft Skills Programme for young woman
Training sessions and employability training
Supporting individuals as approved by the Trustees through our Social Welfare Programme

Goldstar’s main focus in 2020-2021 has been to finalise the content of the Goldstar Employability and Soft Skills training curriculum and to train a team of women to become accredited to deliver the training on our behalf. We have also marketed the programme extensively, and pitched the project to Seminaries, and the response has been overwhelmingly positive.

GOLDSTAR CREATIVE MARKETING

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021 (CONT…)

At the start of the year we were almost ready to finalise the curriculum, but the COVID pandemic put a brake on things, and forced us to reassess our model of delivery. We adjusted content and digitalised resources and course materials, preparing for the possibility of having to deliver the programme remotely.

The Goldstar programme has been developed to meet the specific needs of Orthodox Jewish young women who, due to their cultural requirements have limited access to employment and training opportunities. The curriculum has been designed in line with our objective to promote success in ensuring advanced job opportunities for both the employed and unemployed and to open new pathways to employment for women. Extensive research with local businesses and charitable organisations was undertaken in 2018-19, in which we learned about their concerns over the lack of skills of young women in the community when they access the workforce. A series of pilot experiential learning workshops confirmed this disparity and highlighted skills sets which are missing particularly in this community, and the curriculum focusses on these areas.

In order to develop an inspirational programme which covers the entire spectrum of employment and soft skills training we collaborated with a wide range of contributors, drawing on the skills of educational consultants, teachers, youth workers, and other educational professionals. The result is a robust and well-researched curriculum comprising of seven modules over forty-seven lesson. Lessons have been designed to be immersive and engaging and contain a wealth of experiential learning activities and access to culturally appropriate resources.

We have successfully recruited a dynamic group of potential trainers from across the country, and our first cohort of the Train the Trainers programme, which is now ILM accredited, is currently underway. Upon completion trainers will become Accredited Trainers and have an immediate pathway to employment and will fan out to deliver the Goldstar programme in a wide variety of settings.

Currently our primary focus in on bringing the programmes to Seminaries which cater for students (aged 16-19), who are planning on transitioning from education to the workplace. At least 3 Seminaries have already committed to offering the Goldstar programme in the academic year of 2021-22. Simultaneously we are seeking to offer the programme to NEET, the unemployed, those on a low-income and others seeking to upskill due to progression or a change in employment.

Grants from the Tudor Trust, London Community Response Fund and Delapage have been significant to the development of the programme. We are also grateful to the Rosa Foundation, Awards for All and other funders, who have requested to remain anonymous for their support particularly to help us move beyond COVID and the challenges it presented.

GOLDSTAR CREATIVE MARKETING

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021 (CONT…)

Going forward in 2021-2022 Goldstar’s main objectives are:

To set up a mentoring programme where trainees can be supported individually.
Expand our reach and to impact more people. This includes signing up more Seminaries, and setting up training sessions for those beyond education or not in an educational framework.
Get the programme externally accredited as a Level 3 qualification
Provide ongoing CPD to our Accredited Trainers

Our long-term vision is to develop a leadership programme for women seeking to enter or progress to senior roles.

ORGANISATION

The charity is managed by a committee of the trustees.

INVESTMENT POWERS AND RESTRICTIONS

The trustees have wide-ranging investment powers to invest the Charity's assets as they see fit in the furtherance of the Charity's objectives.

REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS

The financial statements for the period show a surplus of £40,150, (2020 - £35,110). The trustees consider the financial position of the charity to be satisfactory.

The financial statements conform to current statutory requirements and comply with the Charity's governing documents.

RESERVES POLICY

The trustees aim to hold free reserves at a level sufficient to protect services and ensure adequate cashflow for the organisation’s needs. The future plan is for the organisation to hold a minimum of six months of the organisations core running costs in unrestricted reserves to ensure continuity of service of the Charity’s unrestricted operating costs.

RISK MANAGEMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they are satisfied

GOLDSTAR CREATIVE MARKETING

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2021

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

The charity was able to obtain funds and to promote its objectives.

THE TRUSTEES

The trustees who served the charitable company during the year were:Mrs E L Feldman

Mrs S Weiss Mrs R Erblich Mrs P Margolis Mrs R Stern Ms D Joseph

RESPONSIBILITIES OF THE TRUSTEES

The director and trustees of Goldstar Creative Marketing (Limited by Guarantee) for the purposes of company law are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgments and estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SIGNED ON BEHALF OF THE TRUSTEES:

………………………………………………… R ERBLICH – TRUSTEE

Dated 19 August 2021

GOLDSTAR CREATIVE MARKETING

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2021

2021 £ Unrestricted Funds NOTE GENERAL FUND Income And Expenditure Incoming Resources Soft Skills Programme 2 19,454 Social Welfare Programme 8,830 Smaller Grants – General 33,276 61,560 Resources Expended Direct Charitable Expenditure 3 43,135 Governance Costs Accountancy 1,483 Professional Fees - Bank Charges and fees - 1,483 Total Resources Expended 44,618 Net Incoming Resources 16,942 Net Incoming Resources B/f 8,072 Net Incoming Resources C/f 25,014	2021 £ Restricted Funds 106,000 - 9,249 115,249 92,041 - - - - 92,041 23,208 29,272 52,480	2021 £ Total Funds 125,454 8,830 42,525 176,809 135,176 1,483 - - 1,483 136,659 40,150 37,344 77,494	2020 £ Total Funds 40,000 22,750 9,467
			72,217

			35,406
			1,440 240 21
			1,701
			37,107
			35,110
			2,234
			37,344

There were no recognised gains and losses for 2021 other than those included in the above Statement of Financial Activities.

The notes form part of these accounts

GOLDSTAR CREATIVE MARKETING

BALANCE SHEET AS AT 31 MAY 2021

Note Fixed Assets 4 Current Assets Debtors 5 Cash at Bank Creditors payable within one Year 6 Net Current Assets/(Liabilities) Net Assets REPRESENTED BY Restricted Funds Unrestricted Funds TOTAL CHARITY FUNDS	2021 £ 12,725 64,228 76,953 (5,962)	£ 6,504 70,991 77,495 77,495 52,481 25,014 77,495	2020 £ £ 292 30,850 10,903 41,753 (4,701) 37,052 37,344 37,344 29,272 8,072 37,344	2020 £ £ 292 30,850 10,903 41,753 (4,701) 37,052 37,344 37,344 29,272 8,072 37,344
				37,052
				37,344
				37,344
				29,272 8,072
				37,344

The trustees are satisfied that the charity is entitled to exemption from the provisions of the companies Act 2006 (the Act) relating to the audit of the financial statements for the period by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The trustees acknowledge their responsibilities for:

(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act and,
(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.

The financial statements were approved by the trustees on 19 August 2021 and signed on its behalf by:

R Erblich Director

Company Registration Number: 08532455

GOLDSTAR CREATIVE MARKETING

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

1. ACCOUNTING POLICIES Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2005) and comply with the Statement of Recommended Practice 2005 'Accounting and Reporting by Charities'.

Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

There are no designated or restricted funds in relation to the activities of the charitable company.

Incoming resources

All incoming resources are included in the SOFA when the charitable company is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

2. Soft Skills Programme

Donations for the above programme were received as follows;

Awards for All - Covid Response Awards for All Main Programme Delapage Ltd Equip LCR - City Bridge Mayor of London Covid grant Rosa Tudor Trust	£10,000 £10,000 £53,000 £2,000 £32,826 £7,200 £18,000 £27,000 £160,026

GOLDSTAR CREATIVE MARKETING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

2021 2021 2021 Unrestricted Funds Restricted Funds Total Funds 3. Direct Charitable Expenditure Salaries - 19,046 19,046 Programme Development - 41,520 41,520 Rent and insurance 5,988 - 5,988 Skills and Training Services 17,017 4,015 21,032 Printing, Postage, Stationery & Advertising 6,873 10,000 16,873 Travel and subsistence 2,329 - 2,329 Computer running costs 1,590 - 1,590 Specialist Appeals 200 13,530 13,730 Professional Fees - 3,930 3,930 Subscription 1,105 - 1,105 Depreciation 2,788 - 2,788 Office and Sundry Expenses 5,245 - 5,245 43,135 92,041 135,176 4. FIXED ASSETS Fixtures & Office Cost Fittings Equipment £ £ As at 1 June 2020 1,042 - Additions 9,000 Disposals - - As at 31 May 2021 1,042 9,000 Depreciation As at 1 June 2020 750 - Charge 88 2,700 Disposals - - As at 31 May 2021 838 2,700 As at 31 May 2021 204 6,300 As at 31 May 2020 292 -		2020 Total Funds 5,692 - 4,159 7,123 756 477 - 15,751 310 798 - 340 35,406 Total £ 1,042 9,000 -
		10,042
		750 2,788 -
		3,538
		6,504 292

GOLDSTAR CREATIVE MARKETING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 (Cont…)

2021 Unrestricted Funds 5. Debtors Income Accrued 12,581 Loan 144 12,725 6. Creditors Sundry 3,364 Loan 2,598 5,962	2021 Restricted Funds - - - - - -	2021 Total Funds 12,581 144 12,725 3,364 2,598 5,962	2020 Total Funds 30,706 144
			30,850
			2,662 2,039 4,701

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

GOLDSTAR CREATIVE MARKETING

I report on the financial statements of the Trust for the year ended 31 May 2021 which are set out on pages 5-8.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is requested by the trustees. The charity’s gross income was £72,217 and I am qualified to undertake examination by being a qualified member of the I.C.A.E.W.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Examine the accounts under section 145 of the 2011 Act;
To follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
To state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements

to keep accounting records in accordance with Section 386 of the Companies Act 2006; and

to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

B OLSBERG B OLSBERG & CO CHARTERED ACCOUNTANTS

3 MIDDLETON RD M8 5DT 19 August 2021