REGISTERED CHARITY NUMBER.. 263916 REPORTOF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 FO GOLDEN CHARITABLE TRUST Bes51er Hendrie LLP Chartered Accountsnts A5hbourne Housè The Guildway Old Portsmouth Road Guildford Surrev GU3 ILR GOLOEN CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS foi ihe year ended 5 April 2024 Pa8e Report of thè Trustees Independent E¥amlner's Report Statement of Financial Activitiès 8alantè Sheet Notes to the Finantial Statements 6 to 12 GOLDEN CHARITABLE TRUST REPORT OF THE fRUST£ES lor the year ended 5 April 2024 The trustees present their report with the financial statements of the charity for the year Ènded 5 April 2024. The trustees have adopted the provisions of Accounting and Reportin8 by Charities." statement of Recommended Practice 2019 applicable to charities preparing their account5 in accordance wirh the Financial Reportin8 Standard applicatrile in the VK and Republic of I￿land IFRS 1021 leffective l January 20151. The tru5tee5 confirrn that the financial statements comply with the requirements ol the charity's governing document, its trust deed,. and with the reporting requirements of the Charity Commission for England and Wales. REFERENCE AND ADMINISTRATIVE DETAILS The Golden Charitable Trust'5 registered charity number is 263916. The charity banks with National We5trninster Bank Plc. 01250 Bishop58ate, London, EC2M 4A4. Messr5 Be551er Hendrie LLP ol Ashbourne House, Old Portsmouth Road, Guildford. Surrey. GU3 ILR. report to the trustees as independent examiner. The Charity 15 administered from Saltings, Seven Acres Lane, Walberswick, Suffolk, IP18 6UL by the tnjstees and they take the necessary decision5 based on advice 8iven to them. oBJE￿IVEs AND ACTIVITIES History of the trust The charity wa5 established by the execution of a trust deed on 23rd March 1972 by Mrs Jaqueline Golden. the settlor, who died on 19th December 2005. It5 number in the Central Re8lSter ol Charities is 263916. It has been actepted by the Inland Revenue as a charity within the definition ol section 506111. Incorne and Corporation Taxes Act 1988. Objectives and aims The objects ol the charity are to apply the income of the trust, and a150 50 much of the capital as the trustees may determine, to such charities or for such charitable purposes as the trustees rnay direct,. and during the year this objective has been achieved bv responding to appeals considered to be worthy and deserving of support. Grants are made at present only from the revenue fund. sometimes in excess of its incomin8 resources for the year, sometimes less. ACHIEVEMENT AND PERFORMANCE Charitable artivities Durin8 the year. the trustees have allocated Brants of £22,5W12023.. £18,000) to ￿nStitutIOnS in respect of the charity's activities. Detsi15 of grant recipients are recorded in note 4 to the accounts. Fundralsin8 artivltles The trust Is funded principally by investment income and donations received, which 15 used to further the charity's objettives. Investment performan The charity maintains a balanced portfolio to minimise risk ol losse5 whi15t providing a consistent income which can be applied to charitable purposes. The incorne return on investments was considered adequate given the investment policy and the prevailing market condition5 in the year under review. FINANCIAL REVIEW Principal fundin8 Sources The principal source ol funds is investment income generated from the trust's investment base. Investment pollcy and oblectlves The trust deed empowers the trustees to invest trust monies in whatever 5tock5, share or other investments they may think fit. In order ro maintain a prudent and responsible investment policy and in view ol the volatility in the investmenr markets, the trust holds only equity and property unit5 in cornrnon investrnent funds and an exempt unit trust, with money held for rhe payment of grants deposited with National Westminster Bank Plc. The only risks to which the charity is exposed are those associated with investment which the trustee$ guard against so far as possible by confining the trust's holdinBs to commgn investment funds and an exempt unit trust. Page I GIXDEN CHAA ￿A￿LE TRusr REPORT OF THE TRusfEES for the year ended 5 N41rf12024 FINA14CIAL REVIEW Re5epM5 polky The trust has two funds.. a capital fund ar*d a revenue fund. both of which are unrestrkted and may therefore be applled to trust objertg. The capitsl fund ha5 been fomied from the sum settled and subseq￿ent net 8ain5. trw)th reallsed and unrealised, on Investrnènts. The revenue fund has been forrned fvom donatlons feceived and from investment in¢ome. Grants a￿ made at present only frorn the revenue fund. SOMe￿me$ In excess of its incoming resources of the year, sometime5 less. wlth any growth in the fund, and in the capital ftjnd ti)0. be￿n& acceptable because it enables the tr￿st,5 investment WrtfOl￿ to grow and so to crease the resources available for 8rants in the future. Dudnt the year unieallseil losses on Investments were £14.772. The balance on the capltal fund at 5 April 2024 stood at £282.09612023.. £296.86BI. The income for the year was É29,164 and arants of £22,5￿ were made. After Incurrlng support Costs of £1.980 the balance on the revenue fund at 5 April 2024was E230,38712023.. £225.7031. FUTURE PLANS The trust plans to contlnue the activllSes outlined a￿ve in the forthcomlTh8 years. STRu￿URe, GOVERNANCE AND MAPIAGEME14T fjo¥emln¥ d￿Urnent The th4Tity is controlled by ts governin8 document, a deed of trust dated 23 March 1971 and cor15titutes an unlncorporoted charity. Day to day management is in the hand5 of truttees whe are required to the charity's intome. and may use the cha¥lty's ¢apltal, for such charltsble purposes as the truttees in thelratssolute discrei(on thlnk fTt. 1*pnI￿1tsnll structyre The trust Is man38ed by the present irustees, Mr Jererny 5olnick ènd Mr5 Sara SolnKk. who meet regularly to agree the considerat(on of grant rnakin& Investment. ie5erves and rlsk management polldes and performance. There were no changes In trustee5 during the year. RetTullment and ofn•wtrnstsoJ The power to appoint future truste* Is vested in the present trustees. Any new tntstees wlll be selerted from èmon85t persons of known abilitywho are Interested In the ttU5t's objects. The present trustees wlll use thelr knowledge of the trust's records over theyars to shLW new trustees how besi to perform thelr duties. Approved by order of the board of trustees on.......................... and si8ned on its behalf bv.. Mr$ 5 Solnlck- Tnjstee Page 2 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GOLOEN CHARITABLE TRUST Independent examiner's report to the trustees of Golden Charitable Trust I report to the charity trusrees on my examination ol the account5 01 Golden Charirable Trust Ithe Trust) for the year ended S April 2024. fte5ponsibblitie5 and basts of rèport As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Oirettions given by the Charity Commission under Section 14515llbl ol the Act. Independent examtnèr's statèment I have completed my examination. I conlim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. actountin8 records were not kept in respect of the Trust as required by Section 130 01 the Act.. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulation5 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part ol an independent examination. I have no concern5 3nd have come across no other matrers in connection with the examination to which attent￿On should be drawn in this report in order to enable a proper understandin8 01 the accounts ro be reached. ,Ld Lkn. LLP Andrea Hollo FCA Bessler Hendrie LLP Chartered Accountants Ashboume House The Guildway Old Portsrnouth Road Guildlord Surrey GU3 ILR Date.. 01 Page 3 GOLDEN CHARITABLE TRUST STATEMENT OF FINANCIAL A￿1VITIEs lor the year ended 5 April 2024 2024 2023 Total funds Unrestricted funds Notes INCOME AND ENtX)WMENTS FROM Investment income 29.164 26.253 EXPENDITURE ON Charitable activities Charitable activity 22,5 18.(MK) Other 1,980 2.010 Totsl 24,480 20,010 Net gain511105sesl on investments 114,7721 I41.(￿) NET INCOMEIIEXPENDITUREI 110.0881 134.7571 RECONCILIATION OF FUNDS Total funds brought forward 522,571 557,328 TOTAL FUNDS CARRIED FORWARD 512.483 522,571 The notes form part of these finarncial statements Page 4 GOLDEN CHARtTABLE TRUST BAiANCE SHE S Aprtl 2024 2024 Unrestr*cted funds 2023 Total fund5 Notes FIXED AS5trs Investments 482,085 496,857 CURRENT ASSErs Cash at bank 32.378 27.694 CREDffoRS Amounts fallinBdue within one year io 11,9&Jl I1.9￿) NEfcvRREMf ASSETS 30,398 25,714 TOTALA8SEfs LESS CURRENT UAoiunES 512.483 522.571 512.483 522.571 FUNDS Unrestrirted fund5 li 512.483 52Z,571 TOTAL FUNDS 512.483 522.571 The fiThanclal ststements We￿ approved by the Board of Trustees and authorlsed for i55ue on were signed on Its behalf by.. ané SSolnlck- Tnjstee The notes form part of these flnancial 5tstements P48e 5 GOLDEN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS ft>r the year ended S April 2024 STATUTORY INFORMATION The Golden Charitable Trust is a trust registered in England and Wales. The trust's registered number and re8lStered office can be found on the Report ol the Trustees. ACCOUNTING POLICIES Ba51$ of preparlni the fbnanclal statements The financial staternent5 of the charity have been prepared in accordance with the Charities SORP 2019 IFRS 1021 Accounting and Reporting by Charitie5.' Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.. Financial Reporting Standard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial 5taternents have been prepareé under the historical cost convention unless othernise stated in the relevant accountin8 policy note. The trust constitutes a public benefit entity a5 defined by FRS 102. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a 8oing concern. 5wiificant judgernènts altd e5tirnzte5 No significant judgernents or estimates have had to be made by rhe rrustees in preparing these financial Statements. Income All Income is reeo8nised in the Statement of Financial Activities once the charity has entitlement to rhe lund5, It 15 probable that the incorne will be received and the amount can be measured reliably. Investment income 15 included when receivable. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committin8 the charity to that expenditure. it is probably that a settlement will be required and the amount of the obli8ation vèmént in funds, ineludod in th* abovo arè ¥5 follows.. Incoming resources Ae50urce5 expended Gain5 and losses Movement in fund5 Unrestricted funds Capital fund Revenue fund 114.7721 114,7721 29,164 124.4801 29,164 124.4801 114,7721 110,0881 TOTAL FUNDS 29,164 124,4801 114,7721 110,0881 Cornparatives for movement in funds Net movement in funds At 5.4.23 At 6.4.22 Unrèstricted funds Capital fund Revenue fund 337,868 219,460 141.CKKII 6,243 296,868 225,703 557,328 134,7571 522.571 TOTAL FUNDS 557.328 134,7571 522.571 Page 10 continued... GOLDEN CHARITABLE TRUST NOTE5 TO THE F114ANCIAL STATEMENTS- continued for the year ended 5 April 2024 li. MOVEMENT IN FUNDS- continued Comparative net rnovement in fund5, included in the above are a5 follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted fund5 Capital fund Revenue fund I41.0￿) 141,0001 6.243 26,253 120.0101 26,253 120.0101 141,0001 134,7571 TOTALFUNDS 26,253 120.0101 141,0(KJl 134,7571 A current year 12 month5 and prior year 12 months combined posifion is as follows.. Net movement in funds At 5.4.24 At 6.4.22 Unrestrl¢ted funds Capital fund Revenue fund 337,868 219.460 155,7721 10,927 282,096 230,387 557.328 144,8451 512,483 TOTAI FUNDS 557,328 144,8451 512.483 A current year 12 months and prior year 12 month5 combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Mtsvement in funds Unrestricted funds Capital fund Revenue fund 155,7721 155,7721 10,927 55,417 144,4901 55,417 144,4901 155.7721 144,8451 TOTAL FUND5 55,417 144,4901 155.7721 144.8451 The capital fund comprises ol the realised and unreali5ed gains on investments. The revenue fund cornprises the cumulative income, net of expenses and any amount5 applied to charitable purposes. It is the present policy of the trustees only to so apply the revenue fund, but the capital fund may be usetl similarlv. Pègell continued... GOLDEN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS. contlnued for the year ended S April 2024 12. RELATED PARTY DISCL05URE5 There were no related party transactions for the year ended 5 April 2024 nor lor the year ended S April 2023. Page 12