2023-05-31-accounts - Goldstar Creative Marketing

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

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Trustees’ Report and Financial Statements Year Ended 31 May 2023

Goldstar Creative Marketing Limited by Guarantee Company Number 08532455 (England and Wales) Charity Number 1155107

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TA B L E O F C O N T E N T S

A Message Report of from Our Chair the Trustees

Statement of Balance Financial Activities Sheet

Notes to the Financial Statements

Independent Examiner’s Report

Letter

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Goldstar is dedicated to developing the capacity and skills of young women who are socially and economically disadvantaged members of the Charedi Jewish community, so that they are better able to identify and meet their needs. We aim to ensure that they have improved chances in life, enabling them access to training and employment opportunities. We seek to bridge the gaps between education, employment and the real world, empowering them to be successful individuals, wives, mothers and employees.

We do this by teaching transferrable skills and providing guidance on how to navigate the workplace practically and emotionally. We build young women’s confidence, initiative and self-awareness, teaching them the ethics of the workplace and how to be successful whilst retaining their values and ethos. We help them actualise their potential- bridging their latent talents to reality.

Our bridges connect people, mentors, trainers, trainees and professionals, as we encourage networking and learning from others. We do not aim to revolutionize anything or create anything new. We are merely filling what is missingbridging a gap- in order to build young women to be the best they can possibly be within the boundaries that keep us safe.

Our work takes place primarily across London and we intend to expand further afield in the future.

Empowerment Resilience Community Integrity

Sustainability

“Numbers don’t just count; they bridge gaps, connecting progress to outcomes.”

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344
delivered in
5
2
settings.
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young
60%
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6 Trustee
meetings
4
from leading
Rabbis and
educators.
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Comparison of confidence and abilites before and after being introduced to Goldstar’s Soft Skills Programme (Scale of 0-10)

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10
8
6
4
2
0
Strength of Confidence in Likelihood to take on
life skills abilities leadership role
Prior to Goldstar involvement Currently
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Participation Outcomes
by Percentage
100
90
80
70
60
50
40
30
20
10
0
Participation Participation Participation Participation Participation
significantly greatly increased increased increased
raised improved understanding understanding confidence to
aspirations resilience to of career of workplace gain and keep
life challenges opportunities skills employment
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Life Skills of Trainers Improved by Participation in Course (Scale of 0-10)

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Critical Thinking
Decision Making
Team Working
Assertiveness
Communication
0 2 4 6 8 10
Mean Average Mode
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1. Employability & Soft Skills Training

We deliver accredited training to support low-income young women in preparation for the workplace. Our primary programme is the Goldstar Skills Programme which is offered as both a long-course and short-course version to young women aged 16-25 in seminaries and community settings across London. The programme has received endorsements from significant Rabbis and leading educators and is currently implemented across 5 different seminaries and 2 community settings, benefitting nearly 350 participants in the year 2022/23. Topics covered include self-awareness, job exploration and preparation, communication, ethics & values, transitioning to work and remote working.

We are regularly reviewing and updating the course content to meet the feedback of students, seminaries, trainers and local educators. Feedback to date has acted as a catalyst for the Mentorship Programme (see below).

2. Awards for Training and Higher Education Accreditation

The Goldstar Skills Training programme received official accreditation by the ATHE as an Ofqual qualification (Level 3 Diploma in Employability and Soft Skills) in September 2022. This was a major milestone as it provided us with credibility and recognition.

Furthermore, obtaining accreditation was a means to securing funding from the Education & Skills Funding Agency (ESFA). Unfortunately, however, we learnt that the Department for Education has put a moratorium on approval of new accreditations at this level. Without this approval, ESFA funding for students towards the accreditation is not forthcoming. This has been a significant blow to Goldstar. Our operational model was designed to benefit from ESFA funding, to support students from low-income backgrounds who cannot afford the high price tag of the course.

To combat this, we exerted much effort to secure funding from alternative sources and successfully obtained funds from City Bridge Trust, Reaching Communities (National Lottery), and Henry Smith Charity, amongst others.

3. Healthy Relationships Course

Following requests from Goldstar Trainers and local schools, we have developed a course targeting students in upper secondary education, as an offshoot of existing modules in the Goldstar Skills Programme. The course covers topics such as communication, healthy boundaries, empathy and more. The course is due to go live in the coming academic year.

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4. Train the Trainers

The Charedi community is a hard-to-reach niche community. We recognise that in order for training to be effective, it must be delivered by local people who have lived experience of the challenges faced by these young people, and who understand the cultural nuances of this community. To this end, we offer training programmes for local women where they are able to train to become accredited Goldstar Facilitators. This is a win-win project. It provides Goldstar with a team of well-trained, motivated facilitators who are able to best connect to the learners, and it helps bring more jobs to the local community. We are currently working on developing a more compact version of this training programme, over a shorter timeframe, to ensure maximum efficiency.

5. Developing our Facilitators

We offer regular guidance, support and continued professional development to facilitators of the Goldstar Skills Programme. We hold regular meetings to share progress, updates and feedback. We have also explored how best to deploy our trainers/facilitators in order to improve our learners’ experience. This includes rotating trainers so that a given group benefits from the expertise of varied trainers. The changes also provide for flexibility and efficiency, as we can now quickly replace a trainer who cannot attend a given session.

6. Department for Work and Pensions (DWP)

This year we were privileged to partner with Ingeus, one of the UK’s main lead providers contracted by the DWP to help unemployed people into jobs. With their support, we ran a pilot programme to help young women secure a sustainable job within 6 months of graduation. A key worker was recruited to offer one-on-one focused support and tailored signposting to 20 graduates of the Goldstar Programme. We were wildly successful with 80% of the cohort currently in employment. Ingeus has committed to establishing a long-term relationship with Goldstar.

We are cultivating relationships with businesses and employers to secure work placements, apprenticeships, and interview commitments for our graduates, thus ensuring that our work is a long-term solution to sustainability and self-sufficiency.

7. Greater London Authority

We laid the groundwork for a new initiative in which we will provide personalised mentoring to support graduates in their employment pursuits. This follows the success of an ‘Employees Event’ organised by Goldstar in Nov 2022, where a number of Charedi employers were invited to address, mingle and share experiences with 50 recent graduates.

We are in the process of establishing a group of community mentors comprising employers and successful business owners, who could be approached on an ad-hoc basis to support young women with advice and guidance through their employment journey. We currently have 69 local business women who have committed to volunteer as mentors, based on their field of expertise and have attended an orientation event to introduce the programme. We plan to review how well this initiative is working halfway through 2023-24. This is supported by the Greater London Authority.

It gave me a different outlook at my goals The programme gave and myself in general. I me much awareness feel so much more positive and confidence which will about working out which definitely help me in the future. jobs would best suit me and I really enjoyed the various my chances of actually activities and interactive getting them. elements which made the lessons engaging Thank you for and memorable. such an enriching programme- I am learning so much every single week. I feel so much more confident The course about entering the encouraged me to reworkplace. think things and I realised how I’d never really been properly aware of my own qualities and what I was capable of achieving. It’s been lifechanging honestly, and I’m This programme excited to share this with made such a difference young learners and help to me in my relationship them realise their with young people. I potential. I must feel much more able congratulate to understand their Goldstar on producing viewpoints and respond a course that is quite appropriately. literally one of a kind. Soft skills have never been addressed in our seminary before and I can honestly see the change the course has made. Goldstar has made such a I currently have an employee who shared difference to the girls that she completed some in my seminary. They’ve Goldstar training workshops. become significantly more I have to admit, she came self-aware and confident across so much more and ready to take on the confident, positive and job market which can prepared for the job than be so daunting. other job applicants.

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First graduation Young women graduate the first cohort of the full length programme which was piloted in 2021-22.

Short course A short course version of the programme is launched.

Programme Review Major review of the programme based on the feedback and comments of first cohort graduates.

Enrolment In the academic year of 2022/23, young women enroll in both the short and longer training programmes.

Endorsements Official endorsements received from key community leaders and educators.

Delivery Goldstar Skills Programme is delivered across various locations.

Continuing Professional Development CPD session given to Goldstar Trainers, covering topics of mentoring and coaching.

Hackney Council Networking and lobbying Hackney Council for government support and recognition.

Application Marketing Application and quality assurance checks in preparation to become an ATHE recognised centre. Premises

Marketing Marketing strategies are reviewed to target different audiences.

Funds Secured Funding secured to create the Healthy Relationships course for students in upper secondary education.

Mentor Mentor appointed to support first year employees who have completed the Goldstar programme.

Ingeus Partnership Ingeus, contracted with the DWP, shows interest in our work and establishes a partnership with us.

Moved to larger premises to cope with the growth. Still no training suite so this is a short-term solution.

Registered centre Goldstar becomes an an ATHE registered centre.

Employees Event Event arranged for Goldstar graduates and friends, in preparation for the workforce.

Development

Meeting

Steering group established to develop content and review material.

Meeting with all working trainers to review progress and renew commitment.

with us. Endorsement Pilot programme Ingeus Partnership launched in partnership Pilot programme with Ingeus, to support launched in partnership Goldstar graduates with Ingeus, to support in transitioning to Goldstar graduates employment. in transitioning to employment. Qualification

Fundraising

Implementation Goldstar trainers and local schools express interest in the course, which will go live in the next academic year.

Ingeus Partnership

Mentor Programme Planning a mentorship programme, where successful business owners will guide and advise Goldstar graduates.

Regular meetings with fundraising consultant to secure adequate funds.

Rotation Group Initiation of trainers’ rotation group, where each trainer offers support in their area of expertise.

Qualification

in transitioning to In Sept 2022, Goldstar employment. Qualification becomes formally In Sept 2022. Goldstar accredited by the ATHE, Ingeus Partnership becomes formally as Ofqual recognised Following the accredited by the ATHE, Level 3 Diploma. programme’s wild as Ofqual recognised success, plans are in place Level 3 Diploma. New Trustee to extend the contract Appointment of and support more people. Training additional Trustee-

Mentor Programme Community volunteers identifed to join the mentor programme as representatives in their field of business.

Ingeus Partnership

Plans

Plans to strategically train a new cohort of trainers within a shorter timespan, to be commenced in June 2023.

Appointment of additional TrusteeMrs G Lieberman.

Mentor Programme

Goldstar undertakes City Bridge Trust ATHE training on City Bridge Trust agrees compliance. to fund our core costs over a period of 5 years.

City Bridge Trust

Plans in place to launch officially, inlcuding training for mentors and spreading awareness of the programme.

Propel Funding secured from Propel to support collaberations within the community to tackle work poverty.

Employer Engagement Links are developed with local employers to generate employment opportunities for Goldstar graduates.

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‘IT TAKES BOTH SIDES TO BUILD A BRIDGE’
- Fredrik Nael
Goldstar Skills Programme Upcoming Programmes
The Healthy Relationships course will continue
We plan to expand our programme to support
to undergo thorough review and is due to kick-
more women in 2023/24, with plans to implement
off in the coming academic year. The Mentorship
the training in additional community settings and
seminaries. Programme will launch in 2024.
Expansion of Opportunities Ingeus Partnership
We are constantly on the lookout to offer new Following our successful pilot programme
opportunities and innovative programmes based supported by Ingeus, (in which 90% of participants
on the feedback from our beneficiaries including secured jobs with the help of a focused key
leadership initiatives and entrepreneurial support worker), we plan to offer this programme to 60
for aspiring young women seeking to start their young women in the coming year, by running
businesses. three groups of 20 women each.
Reaching further afield Premises
We currently have some activity up North We have had to move due the growth and expansion,
(in Manchester), but in order to expand however we do not yet have our own training
in a sustainable way we have to focus on suites. We are actively looking to relocate yet again
consolidation. We recognise that we would need because the lack of training suites is an impediment
a local office in locations further afield. to our growth and the breadth of our reach.
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TRUSTEES’ REVIEW

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 deficit of £9,444, (2022 – surplus - £41,139). 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.

TRUSTEES’ REVIEW (CONTINUED)

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;

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.

●�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:

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

…………………………………………………

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

THE TRUSTEES

R ERBLICH – TRUSTEE

Dated 15 February 2024

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 Mrs S Friedman Mrs T Feldman Mrs G Lieberman (appointed 03 May 2023)

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2023

Note GENERAL FUND Income And Expenditure Incoming Resources Skills Programmes 2 Social Welfare Programme Smaller Grants – General Resources Expended Direct Charitable Expenditure 3 Governance Costs Accountancy Professional Total Resources Expended Net Incoming Resources Net Incoming Resources B/f Net Incoming Resources C/f	2023 £ 2023 £ 2023 £ 2022 £ Unrestricted Funds Restricted Funds Total Funds Total Funds 163,337 29,025 192,362 208,172 - - - 3,400 1,500 1,300 2,800 7,739
	164,837 30,325 195,162 219,311
	159,684 37,839 197,523 176,249
	6,000 6,000 1,923 1,083 1,083 -
	7,083 7,083 1,923
	166,767 37,839 204,606 178,172
	(1,930) (7,514) (9,444) 41,139 54,008 64,625 118,633 77,494
	52,078 57,111 109,189 118,633

There were no recognised gains and losses for 2023 other than those included in the above Statement of Financial Activities.

The notes form part of these accounts

BALANCE SHEET AS AT 31 MAY 2023

2023 £ £ 5,113 59,725 57,634 117,359 (13,283) 104,076	£ 7,967 110,665	2022 £ 5,113 113,520
	118,632 (5,112)
109,189		118,633
109,189		118,633
52,078 57,111		54,008 64,625
109,189		118,633

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 15 February 2024 and signed on its behalf by:

…………………………………………………

R Erblich Director Company Registration Number: 08532455

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

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.

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

Grants for the above programme were received as follows;

THE HACKNEY COMMUNITY FUND PADDINGTON DEVELOPMENT FUND GROUNDWORK LONDON RISE FUND/ROSA ROCKET SCIENCE THE NATIONAL LOTTERY COMMUNTIY FUND THE CITY BRIDGE TRUST Total Grants Included in Income	10,000 6,000 300 20,000 9,000 57,476 59,637
	162,413

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

3. DIRECT CHARITABLE EXPENDITURE Closing the Divide Employment Support Goldstar Skills and Skills Fusion Support Costs 4. FIXED ASSETS Cost As at 1 June 2022 Additions As at 31 May 2023 Depreciation As at 1 June 2022 Charge As at 31 May 2023 As at 31 May 2023 As at 31 May 2022	2023 2023 2023 £ £ £ Unrestricted Funds Restricted Funds Total Funds 2,340 555 2,895 7,082 1,678 8,760 31,463 7,456 38,919 118,798 28,151 146,949
	159,684 37,839 197,523
	Fixtures & Fittings Office Equipment Total £ £ £ 1,042 9,600 10,642 - 0
	1,042 9,600 10,642
	899 4,590 5,529 0
	899 4,590 5,529

	143 5,010 5,113
	143 5,010 5,113

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

5. DEBTORS Trade Income Accrued Loan Other 6. CREDITORS Trade Sundry Loan	2023 2023 2023 2022 £ £ £ £ Unrestricted Funds Restricted Funds Total Total 1,857 1,857 - 56,557 56,557 6,656 144 144 144 1,167 1,167 1167
	59,725 59,725 7,967
	4,331 4,331 - 6,354 6,354 2,514 2,598 2,598 2,598
	13,283 13,283 5,112

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 2023 which are set out on pages 16-20.

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 £219,311 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 15 February 2024

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Trustees: Mrs E L Feldman Mrs S Weiss Mrs R Erblich Mrs P Margolis Mrs R Stern Mrs S Friedman Mrs T Feldman Mrs G Lieberman appointed 03 May 2023

Auditor: B Olsberg B Olsberg & Co. Chartered Accountants 3 Middleton Road M8 5DT

Registered Office: 15 Osbaldeston Road London N16 7DJ

Bankers: Barclays Bank UK PLC 1 Churchill Place London E14 5HP

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Ken Poirot

GOLDSTAR CREATIVE MARKETING Company Number 08532455 Charity Number 1155107 www.goldstarcreative.org 0208 211 1020