REGISTERED CHARITY NUMBER: 1160717 R8 ortoft e Trust es and Unaudited Financial Sta eme ts for the Year E ded ne 2024 S R Renvoize Ltd 1 Arwela Road Felixstowe Suffolk IP112DG
Golden Sunset Trust Contents of the Financial Statements for the Year Ended 30 une 2024 Page Report of the Trustees Independent Examiner's Report Stat8ment of Flnancial Activiti88 Balance Sheet Not8S to the Financial Statements Detailed Statement of Financial Activities 8 to 15 16 to 17
Golden Sunset Trust Re ort of the Trustees for the Year Ended 30 June 2024 The trustees present their report with the financial statem6nts of the charity for the year ended 30 June 2024. Th6 trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES ObJectlve8 and alms The objects of the trust are the relief of poor aged or Infirm persons by the provlsion of houslng accommodatlon or other necessary care and attention in assisted units or homes for residential care or otherwis8. The trust currently aims to achieve thls by means of grants to organisations whose aims meet these objectives. Publlc ban8flt The trustees have complied with thelr duty to have due regard to th8 guldance on public benefft publlshed by tha commisslon in exercising their power or duties. ACHIEVEMENT AND PERFORMANCE Charltablo actlvltles In the year to 30th June 2024 the tmst has continued to fund two Pastoral Care Workers for Hope Trust. We continue to be encouraged by the support given to Hope Trust by volunteers coming to them from various churches to h81p with visits to care h0rn8s and also to assist with the p88tor81 care work. Hope Trust (CIO No 1159866) seeks to provlde r81i8f to older peopl8 through the provlslon of practlcal and splritual support, help and advic8 and also to benefit older people In resldentlal or car8 homes by the provision of a monthly service. In this year a grant of £42,100 was made. Walton Parish Nursing (CIO No 1151953) employs nur888 off8rlng holistic (includlng 8plrltual) care, who refer cllents to other agencies, m8ke health assessments, give advlce, provide advocacy, offer 8UPPOrt in times of illness and stress.They also provide post-operative care, bereavement support, leg are and chair-based exercise classes run by volunteers. In thls year a grant of £3,000 was made. In thls year a grant of £5.500 was mada to Capal Parish Nur888 (CIO 1173638) whlch provldes Parlsh Nurses to assist In the rellsf of sickness and the preservation of health, in accordance with a Christian ethos, among people residing permanently or t6mporarlly in and around Capel St Mary, Ipswich, Suffolk. FINANCIAL REVIEW Flnanclal posltlon The main source of income is the income arising from its investments, £26,395 At the end of the accounting period, the reserves were £945,313 (2023 - £933,077). The amount expended on grants during the year was £50,600 (20232 - £47,650). Reserves policy General funds are being held to secure the future of Hope Trust and their pastoral care workers. the parish nurses who work for Walton Parish Nursing and any other programme I project the trustees may decide to support. Page 1
Golden Sunset Trust Re ort of the Trustees for the Year Ended 30 June 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document of 17th November 2014, and Is a Foundation model constitution for a Charitable Incorporated Organisation.The charity was registered with the Charity Commission on 2nd March 2015. Recrultment and appolntment of new trustee8 The power of appointment or removal of trustees rests with the existlng trustees. New trustees are offered informal induction training along wlth the Information necessary for them to fulfil their duties as a trustee. Rlsk management The trustees have a duty to Identify and review the ri8ks to which the charlty Is exposed and to 8n8ur8 appropriate controls are in place to provide re8sonable 88suranc& agalnst fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS R8glsternd Charlty number 1160717 Prlnclpal addre88 3 Cranborn8 Chase Ipswich Suffolk IP4 3EQ Trusteas B N Freed Dr A Fenning Amcroft K Stone Rev T J S Harri8 (appolnted 14.11.23) Independent Examlner S R Renvoize S R Renvoize Ltd 1 Arwela Road Felixstowe Suffolk IP112DG Investment advlsers Chase de Vere 1 st Floor Unit 3 Wellbrook Court Girton Cambrldg8 Page 2
d8 ns8t Tr rt of the Trustees En ed30 ne 202 Approved by order of the board of trustees on 14 S8Ptemb8r 2024 and signed on its behalf by: B N Freed - Trustee Page 3
Inde endent Examinerfs Re Golden Sunset Trust ort to the Trustees of Independent examlner's report to the truste88 of Golden Sunset Trust I report to the charity trustees on my examination of the accounts of Golden Sunset Trust (th8 Trust) for the year ended 30 June 2024. Responslbllltles and basls of report As the charity trustees of the Trust you are responsible for the pr8paration of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Act,). I report in respect of my examination of the Trust's accounts carried out under Sectlon 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charlty Commission under Section 145(5)(b) of the Act. Independent examlneV8 statement I have completed my examination. I confirm that no materlal matters h8V8 come to my attention In connectlon with the examinatlon giving me cau8e to bellev8 that In any matarial respect.. accountlng r8cords were not kept in respect of the Trust as requlred by Sectlon 130 of the Act; or the accounts do not accord with those records. or the accounts do not comply wlth the applic8bi8 requlrements concerning the form and content of accounts set out in the Charlties (Accounts and Reports) Regulatlons 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 com8 across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandlng of the accounts to be reached. S R Renvolze S R Renvolze Ltd 1 Arw61a Road F8lixstowe Suffolk IP112DG 14 September 2024 Page 4
Golden Suns&t Trust Ststement of Financial Activities for the Year Ended 30 June 2024 30.6.24 Unrestricted funds 30.6.23 Total funds INCOME AND ENDOWMENTS FROM Investment income Notes EXPENDITURE ON Raising funds 15,009 21,771 Charltable actlvltle8 Individual grants Institutional grants Other 600 47,050 50,600 850 816 Total Net galns on Investments NET INCOMEI(EXPENDITURE) 12,236 (28,109) RECONCILIATION OF FUNDS Total funds brought forward 933,077 959,186 TOTAL FUNDS CARRIED FORWARD 945 313 933 077 The notes form part of these financial statements Page 5
Golden Sunset Trust Balance Sheet 30 June 2024 30.6.24 Unrestricted funds 30.6.23 Total funds Notes FIXED ASSETS Investments Investrnents Investment propety Social investments 529,481 320,000 509,488 320,000 937,558 917.565 CURRENT ASSET8 Prepayments and accrued income Cash at bank 3,088 505 8,605 16,328 NET CURRENT ASSETS TOTAL ASSETS LES8 CURRENT LIABILITIES 946,163 933,893 ACCRUALS AND DEFERRED INCOME 10 {850) (816) NET ASSETS 945 313 933 077 The notes form part of these financial statements Page 6 continued...
alanc8 Shee - 8 2024 FUNDS Unr8strlct8d funds: G8n8ral fund 11 933 077 TOTAL FUNDS 933 077 The flnandal statements were approved by the 8oard ol Truste88 and authorf8ed for 188ue on 14 September 2024 and wer8 8lgnad on Its behalf by: B N Fro8d- TN8t88 A M Croft- Tru8t8é The notes fom7 part of tlwe financial statements Page 7
Golden Sunset Trust Notes to the Financial Statements for the Year Ended 30 June 2024 ACCOUNTING POLICIES Basls of preparlng the flnanclal statements The financial statements of the charity, which is a public ben8fit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities., Statement of Recommended Practice applicable to charitles preparing their accounts In accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)., Financial Reportlng Standard 102 'The Flnancial Reportlng Standard applicable in the UK and Republic of Ireland, and th8 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments whlch are included at market value, as modifled by the revaluation of certain assets. There Is no material uncertainty relating to the golng concern bas18. Flnanclal raportlng standard 102 - reduced dlsclo8ur8 6xemptlons The charity has taken advantage of the followlng dlsclosure exemptions In preparlng these flnancial statements, as permitted by FRS 102 'The Flnancl81 R8POrting Standard appllcable In the UK and Republic of Ireland,: the requirements of Section 7 Ststement of Cash Flows. tha requirement of paragraph 3.17(d)- the requirements of paragraphs 11.42, 11.44, 11.45. 11.47, 11.48(8)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c)', the requirements of paragraphs 12.26, 12.27, 12,29(a), 12.29(b) and 12.29A; th8 requlr8m8nt of paragraph 33.7. Income All income Is recognlsed In the Statement of Financial Activltl88 once the charlty has entlt18ment to the funds, It Is probable that the income will be received and the amount can be measur8d reliably. Expendlture Liabilitles are recognlsed as expenditure as soon as there is a legal or constructlve obllgation committing the charity to that expenditurg, it Is probable that a transfer of economlc beneflts wlll be required in settlement and the amount of the obligation can be measured rellably. Expendltura is accounted for on an accruals basis and has been classifled under headings that aggregate all cost related to the category. Wher8 Costs cannot be directly attributed to particular headings they have been allocated to activitles on a basis consistent wlth the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Soclal Investments The programme related investment is shown at cost and is subject to annual impairment review by the trustees. Page 8 continued...
Golden Sunset Trust No for es to the Financial Statements - continued he Year Ended 30 June 2024 ACCOUNTING POLICIES - continued Investment property Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. Taxation The charity Is exempt from tax on its charitable activitles. Fund accountlng Unrestricted funds can b8 used in accordance with the charitsble objectives at the discretion of th8 trustees. Inv88tm6nt8 Investments of quoted shares and similar Investments are measured Inltlally at cost and subsequently at falr value at the reporting date. Unrealized galns and losses are credlted or charged to the Statement of Financial Activities and are shown under the headlng 'Net gainsl(Ioss8s) on Investments" INVESTMENT INCOME 30.6.24 30.6.23 Rents r8celved Rant rec'd program development Dlvldends received Interest received 14,540 100 11,739 16 13,880 100 11,421 Page 9 continued...
Golden Sunset Trust Notes to the Financial Statements - continued for the Year Ended 30 June 2024 RAISING FUNDS Investmont management costs 30.6.24 30.6.23 Portfolio management Adminlstrative expenses Rent collectlon Property repairs Insurance investment property 6,058 344 1,949 5,769 889 6,364 835 1,858 11,857 857 GRANTS PAYABLE 30.6.24 30.6.23 Indlvldual grants Institutlonal grants 600 The total grants paid to instltutions during the year was as follows: 30.6.24 30.6.23 Hope Trust Walton Parish Nurslng Capel Parlsh Nurses 42,100 3,000 41,050 3,000 Page 10 continued...
Golden Sunset Trust Notes to the Financial Statements - continued for the Year Ended 30 June 2024 SUPPORT COSTS Govemance osts Other resources expended 850 TRUSTEES. REMUNERATION AND BENEFITS Ther8 were no trustees, remuneration or other benefits for the year 8nded 30 June 2024 nor for the yaar ended 30 June 2023. TrustO88' expen888 There were no trustees, expenses pald for the year ended 30 June 2024 nor for the year ended 30 June 2023. FIXED ASSET INVESTMENTS Listed Investment MARKET VALUE At 1 July 2023 Additions Dlsposals Revaluatlons 509,488 11,999 (41,707) At 30 June 2024 529 481 NET BOOK VALUE At 30 June 2024 529 481 At 30 June 2023 509 488 There were no Investment assets outside the UK. The largest fund of the investment portfollo was JPM US Select C Inc whlch had a period-end market value of £24,083 (2023 - £24,155 LF Linsell Train UK Equlty Acc). Page11 continued...
Golden Sunset Trust Notes to the Financial Statements - continued for the Year Ended 30 June 2024 INVESTMENT PROPERTY FAIR VALUE At 1 July 2023 and 30 June 2024 320 000 NET BOOK VALUE At 30 June 2024 320,000 At 30 June 2023 320 000 The trustees consider there Is no material difference between the carrying valu8 and the falr value, but the properties have not recently been valued by an independent quallfied valuer. The cost of th6 investment properties was £220,000.The trustees are not aware of any restrlctions on the re8llsability of the propertles nor on the remittance of Income and proceeds of dlsposal. SOCIAL INVESTMENTS The programme r8lated investment relates to the building from which Hope Trust operates. Hope Trust is charged a pepp8rcorn rent. Th8 trustees consider that no impairment is due at the end of the accounting period.. 10. ACCRUALS AND DEFERRED INCOME 30.6.24 30.6.23 Accruals and deferred Incom8 850 816 11. MOVEMENT IN FUND8 Net movement in funds At 30.6.24 At 1.7.23 Unrestricted funds General fund 933,077 12,236 945,313 TOTAL FUNDS 933 077 Page 12 continued...
Golden Sunset Trust Notes to the Financial Ststements - continued for the Year Ended 30 June 2024 11. MOVEMENT IN FUNDS - continued Net movement In funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement 108ses in fund8 Unrestrlcted funds General fund 26,395 (66,459) 52,300 12,236 TOTAL FUNDS 66,459) Comparatlves for movement In fund8 Net movement In fund8 At 30.6.23 At 1.7.22 Unr8strlcted fund8 General fund 959,186 (26,109) 933.077 TOTAL FUNDS 959 186 26 109) 933,077 Compar8tlve net movement In funds, Included In the above are as follows: Incomlng Resources resources expended Galns and Movement losses in funds Unrestrlcted funds General fund 25,401 (70,237) 18,727 (26,109) TOTAL FUNDS 70,237) 18,727 26 109) Page 13 continued...
Golden Sunset Trust Notes to the Financial Statements - continued for the Year Ended 30 June 2024 11. MOVEMENT IN FUNDS - continuad A current year 12 months and prior year 12 months combined position is as follows: Net movement In funds At 30.6.24 At 1.7.22 Unrestrlcted funds General fund 959,186 (13,873) 945,313 TOTAL FUNDS 959.186 13 873) A current year 12 months and prlor year 12 months combined net movement In funds, Included In th8 above ar8 as follows.. Incomlng R8source8 resourc8S expended Galns and Movement losses In funds Unre8trlct8d fund8 General fund 51,796 (136,696) 71,027 (13,873) TOTAL FUNDS (136 696) 71,027 13 873) 12. RELATED PARTY DISCLOSURES There were no related party transactlons for the year ended 30 June 2024. 13. ROUNDING The accounts are rounded to the nearest £. Page 14 continued...
Golden Sunset Trust Notes to the Financial Statements - continued for the Year Ended 30 June 2024 14. STAFF No staff are employed by the charity. 15. INDEPENDENT EXAMINATION COST The Independent examlnation cost £850 (2023 - £816). No other $6rvic8s have been provided by th8 examiner. 16. LIABILITY OF MEMBERS If the trust is wound up, the members of th8 trust have no Ilabillty to contribute to its assets and no personal r88ponsibillty for Settling Its debts and liabllities. Page 15
Golden Sunset Trust Detailed Statement of Financial Activities for the Year Ended 30 June 2024 30.6.24 30.6.23 INCOME AND ENDOWMENTS Investment Income Rents recelv8d Rent rec'd program development Dividends received Interest recelved 14,540 100 11,739 16 13,880 100 11,421 26,395 25,401 Total Incomlng rosourca8 26,395 25,401 EXPENDITURE Investment management CO8t8 Portfolio management Admlnistrative expenses Rent collection Property repairs Insurance investment property 6,058 344 1,949 5,769 889 6.364 835 1,858 11,857 857 15,009 21,771 Charltabla actlvltles Grants to institutions Grants to Individua18 50,600 47,050 600 50,600 47,650 Support Costs Governance costs Independent examiner 850 816 Total resources expended 66.459 Net expendlture before galn8 and losses (40,064) {44,836) This page does not form part of the statutory financial statements Page 16
Golden Sunset Trust Detailed Statement of Financial Activities for the Year Ended 30 June 2024 30.6.24 30.6.23 Reallsed and unreallsed recognlsed galns and108888 Realised and unrealised gainsl(losses) on fixed asset investments Nat Incomal{expendlturo) 12,236 26 109) This page does not form part of the ststutory financial statements Page 17