REGISTERED CHARITY NUMBER: 1205547
GOSHEN WELL
Trustees' Report and
Unaudited Financial Statements for the Year Ended 31 August 2025
Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Contents of the Financial Statements for the Year Ended 31 August 2025
| Page | |
|---|---|
| Trustees' Report | 1 to 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 |
Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Trustees' Report for the Year Ended 31 August 2025
The trustees present their report with the financial statements of the charity for the year ended 31 August 2025. The 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
Objectives and aims
The advancement of education for the public benefit, particularly but not exclusively for those who are unemployed, through the provision of scholarships, grants, or other forms of financial assistance to help individuals pay for their education. We provide mentorship and coaching services to individuals who are seeking to develop their workplace skills; and workshops and seminars designed to improve individual's technical skills and soft skills such as leadership and teamwork.
Significant activities
Activities and Impact in 2025
In 2025, the charity sign-posted it's local community to resources alongside it's primary objectives and further it's presence in the community.There were no events held in the year.
Public benefit
The trustees confirm that they have complied with the Charity Commission's guidance on public benefit.
Volunteers
Volunteers are a significant part of our team, and we are grateful for their unwavering support and hard work.
Financial review
Financial position
In the year under review, net results and carry forward funds were (£400).
Reserves policy
The charity will build unrestricted funds reserves as it grows and establishes it's flagship events.
Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Goshen Well is a charitable incorporated organisation (CIO) and is structured by it's governing document; the CIO - FOUNDATION model, registered on 02 Nov 2023.
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Trustees' Report for the Year Ended 31 August 2025
Structure, governance and management
Recruitment and appointment of new trustees
Trustees are elected by existing trustees in accordance with the CIO-Foundation model. A retiring Trustee may be re-elected.
Reference and administrative details
Registered Charity number
1205547
Principal address
8 West Street ROCHESTER ME2 3XG
Trustees
Adeyemi Abolarinwa Adebola Oriade Hilary Alabi
Approved by order of the board of trustees on 21 June 2026 and signed on its behalf by:
Adeyemi Abolarinwa - Trustee
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Statement of Financial Activities for the Year Ended 31 August 2025
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Period
2/11/23
Year Ended to
31/8/25 31/8/24
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
Income and endowments from
- - -
Donations and legacies 4,790
Expenditure on
Charitable activities
Activities in furtherance of the charity's
objectives 175 - 175 5,015
-
NET INCOME/(EXPENDITURE) (175) (175) (225)
Reconciliation of funds
- -
Total funds brought forward (225) (225)
Total funds carried forward (400) - (400) (225)
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The notes form part of these financial statements
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Balance Sheet 31 August 2025
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2025 2024
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
Creditors
Amounts falling due within one year 4 (400) - (400) (225)
-
Net current assets/(liabilities) (400) (400) (225)
Total assets less current liabilities (400) - (400) (225)
-
NET ASSETS/(LIABILITIES) (400) (400) (225)
Funds 6
Unrestricted funds (400) (225)
Total funds (400) (225)
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The financial statements were approved by the Board of Trustees and authorised for issue on 21 June 2026 and were signed on its behalf by:
Adeyemi Abolarinwa - Trustee
The notes form part of these financial statements
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Notes to the Financial Statements for the Year Ended 31 August 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit 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 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the period ended 31 August 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2025 nor for the period ended 31 August 2024.
| 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ Income and endowments from Donations and legacies 4,790 - Expenditure on Charitable activities Activities in furtherance of the charity's objectives 5,015 - NET INCOME/(EXPENDITURE) (225) - Total funds carried forward (225) - 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Bank loans and overdrafts (see note 5) 225 Other creditors 175 400 |
Total funds £ 4,790 5,015 (225) (225) 2024 £ - 225 225 |
|---|---|
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
5. LOANS
An analysis of the maturity of loans is given below:
| 2025 £ Amounts falling due within one year on demand: Bank overdrafts 225 |
2024 £ - |
|---|---|
| 6. MOVEMENT IN FUNDS Net movement At 1/9/24 in funds £ £ Unrestricted funds General fund (225) (175) |
At 31/8/25 £ (400) |
| TOTAL FUNDS (225) (175) |
(400) |
| Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund - (175) |
Movement in funds £ (175) |
| TOTAL FUNDS - (175) |
(175) |
| Comparatives for movement in funds Net movement in funds £ Unrestricted funds General fund (225) |
At 31/8/24 £ (225) |
| TOTAL FUNDS (225) |
(225) |
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a
GOSHEN WELL
Notes to the Financial Statements - continued for the Year Ended 31 August 2025
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources resources expended £ £ 4,790 (5,015) |
Movement in funds £ (225) |
|---|---|---|
| TOTAL FUNDS | 4,790 (5,015) |
(225) |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2025.
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Document ID: ade3c380-530f-46f0-a68a-13971f63215a