REGISTERED CHARITY NUMBER: 263916
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
FOR
GOLDEN CHARITABLE TRUST
Bessler Hendrie LLP Chartered Accountants Ashbourne House The Guildway Old Portsmouth Road Guildford Surrey GU3 1LR
GOLDEN CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 5 April 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 14 |
GOLDEN CHARITABLE TRUST
REPORT OF THE TRUSTEES for the year ended 5 April 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice 2019 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 2015). The trustees confirm that the financial statements comply with the requirements of 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's registered charity number is 263916.
The charity banks with National Westminster Bank Plc. of 250 Bishopsgate, London, EC2M 4AA. Messrs Bessler Hendrie LLP of Ashbourne House, Old Portsmouth Road, Guildford, Surrey, GU3 1LR, report to the trustees as independent examiner. The Charity is administered from Saltings, Seven Acres Lane, Walberswick, Suffolk, IP18 6UL by the trustees and they take the necessary decisions based on advice given to them.
OBJECTIVES AND ACTIVITIES
History of the trust
The charity was established by the execution of a trust deed on 23rd March 1972 by Mrs Jaqueline Golden, the settlor, who died on 19th December 2005. Its number in the Central Register of Charities is 263916. It has been accepted by the Inland Revenue as a charity within the definition of section 506(1), Income and Corporation Taxes Act 1988.
Objectives and aims
The objects of the charity are to apply the income of the trust, and also so much of the capital as the trustees may determine, to such charities or for such charitable purposes as the trustees may direct; and during the year this objective has been achieved by 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 incoming resources for the year, sometimes less.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
During the year, the trustees have allocated grants of £27,550 (2024: £22,500) to institutions in respect of the charity's activities. Details of grant recipients are recorded in note 4 to the accounts.
Fundraising activities
The trust is funded principally by investment income and donations received, which is used to further the charity's objectives.
Investment performance
The charity maintains a balanced portfolio to minimise risk of losses whilst providing a consistent income which can be applied to charitable purposes. The income return on investments was considered adequate given the investment policy and the prevailing market conditions in the year under review.
FINANCIAL REVIEW
Principal funding sources
The principal source of funds is investment income generated from the trust's investment base.
Investment policy and objectives
The trust deed empowers the trustees to invest trust monies in whatever stocks, share or other investments they may think fit. In order to maintain a prudent and responsible investment policy and in view of the volatility in the investment markets, the trust holds only equity and property units in common investment funds and an exempt unit trust, with money held for the 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 trustees guard against so far as possible by confining the trust's holdings to common investment funds and an exempt unit trust.
Page 1
GOLDEN CHARITABLE TRUST
REPORT OF THE TRUSTEES for the year ended 5 April 2025
FINANCIAL REVIEW
Reserves policy
The trust has two funds: a capital fund and a revenue fund, both of which are unrestricted and may therefore be applied to trust objects. The capital fund has been formed from the sum settled and subsequent net gains, both realised and unrealised, on investments. The revenue fund has been formed from donations received and from investment income. Grants are made at present only from the revenue fund, sometimes in excess of its incoming resources of the year, sometimes less, with any growth in the fund, and in the capital fund too, being acceptable because it enables the trust's investment portfolio to grow and so to increase the resources available for grants in the future.
During the year unrealised losses on investments were £1,686. The balance on the capital fund at 5 April 2025 stood at £280,410 (2024: £282,096).
The income for the year was £28,442 and grants of £27,550 were made. After incurring support costs of £2,040 the balance on the revenue fund at 5 April 2025 was £229,239 (2024: £230,387).
FUTURE PLANS
The trust plans to continue the activities outlined above in the forthcoming years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 23 March 1972, and constitutes an unincorporated charity. Day to day management is in the hands of trustees who are required to use the charity's income, and may use the charity's capital, for such charitable purposes as the trustees in their absolute discretion think fit.
Organisational structure
The trust is managed by the present trustees, Mr Jeremy Solnick and Mrs Sara Solnick, who meet regularly to agree the consideration of grant making, investment, reserves and risk management policies and performance. There were no changes in trustees during the year.
Recruitment and appointment of new trustees
The power to appoint future trustees is vested in the present trustees. Any new trustees will be selected from amongst persons of known ability who are interested in the trust's objects. The present trustees will use their knowledge of the trust's records over the years to show new trustees how best to perform their duties.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
263916
Principal address
Saltings Seven Acres Lane Walberswick Southwold Suffolk IP18 6UL
Trustees
Mrs S Solnick J S R Solnick
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GOLDEN CIIARITABiE TRUST REPORT OF THE TRUSTEES for the year eb)dtd 5 Aprfl 21)25 REFERENCE AND ADMINIStRATIVE DEfAIiS hmlependent Examlner Bessler Hendrte LLP Chartered Accovntsnts Ashbourne House The Guildway Old Portsmouth Road Guildlord Surrey GU3 ILR Approved by order ofthe board oftnts5 on....... . and si8ned on its behaw by: Mrs S Solnick- frustee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GOLDEN CHARITABLE TRUST
Independent examiner's report to the trustees of Golden Charitable Trust
I report to the charity trustees on my examination of the accounts of Golden Charitable Trust (the Trust) for the year ended 5 April 2025.
Responsibilities and basis of report
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 2011 ('the Act').
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 Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of 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 (Accounts and Reports) Regulations 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 come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrea Hollo FCA
Bessler Hendrie LLP Chartered Accountants Ashbourne House The Guildway Old Portsmouth Road Guildford Surrey GU3 1LR
Date: ............................................. 2 February 2026
Page 4
GOLDEN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Investment income | 3 | 28,442 | 29,164 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable activity | 27,550 | 22,500 | |
| Other | 2,040 | 1,980 | |
| Total | 29,590 | 24,480 | |
| Net gains/(losses) on investments | (1,686) | (14,772) | |
| NET INCOME/(EXPENDITURE) | (2,834) | (10,088) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 512,483 | 522,571 | |
| TOTAL FUNDS CARRIED FORWARD | 509,649 | 512,483 |
The notes form part of these financial statements
Page 5
GOLDEN CHARtrABLE TRUST BALANCE SHEET S April 202S 2025 Unrestritted funds 2024 Totsltsnds Notes FIXED ASSETS Investments 480,399 482,085 CURRENT ASSETS Cash at bank 31,230 32,378 CREDITORS Amoiints falling due within one year io 11.9801 11,9801 NET CURRENT ASSE15 29,250 30?98 TOTALASSETS LESS CURREMf LIABIUTIES 509,649 512.483 NET ASSETS 509,649 512.483 FUNDS Unrestritted funds li 509,649 512,483 TOTAL FUNDS 509.649 512,483 The flnanclal statements were approved iry the Board of Trustees and authorised for tssue on ......... and were signed on bts behaW by.. 00<1 b S Solnick-TrustÈe The nrtes form part of these financial ststèmeTrts Page 6
GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 5 April 2025
1. STATUTORY INFORMATION
The Golden Charitable Trust is a trust registered in England and Wales. The trust's registered number and registered office can be found on the Report of the Trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity have been prepared in accordance with the Charities SORP 2019 (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)', 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 unless otherwise stated in the relevant accounting policy note.
The trust constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
Significant judgements and estimates
No significant judgements or estimates have had to be made by the trustees in preparing these financial statements.
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.
Investment income is included when receivable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probably that a settlement will be required 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.
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.
Investments
Investments are initially recorded at cost, being the fair value of the consideration given and including acquisition costs associated with the investment. Listed investments are subsequently measured at fair value at the reporting date, being the quoted price in an active market, with the quoted price usually being the current bid price. Any changes in fair value are recognised in the statement of financial activities.
Creditors and provisions
Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
continued...
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GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025
2. ACCOUNTING POLICIES - continued
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including cash at bank, trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.
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. The charity has no restricted funds.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
3. INVESTMENT INCOME
| Income from investments 4. GRANTS PAYABLE Charitable activity |
2025 £ 28,442 |
2024 £ 29,164 2024 £ 22,500 |
|---|---|---|
| 2025 £ 27,550 |
continued...
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GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025
4. GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
| Anti-Slavery International Child Poverty Action Group Shelter Combat Stress Ink Festival Trussell Trust Medecins Sans Frontieres (UK) Centerpoint Soho DEC Afghanistan Refuge Suffolk Refugee Support CAF Aldeburgh Cinema Trust Amna Refugee Healing Network Holton Pits Theberton and Eastbridge Action Group on Sizewell New Cut Arts Yachad Poetry in Aldeburgh The London Library The Pear Tree Fund East Anglia's Children's Hospice Alzheimer's Society |
2025 £ 500 1,000 3,000 500 1,000 5,000 2,000 - - 3,000 2,000 500 - - 1,000 3,000 250 500 2,000 1,000 1,000 300 27,550 |
2024 £ 500 1,000 3,000 500 1,000 5,000 2,000 1,000 2,000 2,000 1,500 500 1,000 500 1,000 - - - - - - - |
|---|---|---|
| 22,500 |
5. SUPPORT COSTS
| Other resources expended Independent examination fees |
Governance costs £ 2,040 2025 2024 £ £ 2,040 1,980 2,040 1,980 |
|---|---|
continued...
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GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
7. STAFF COSTS
There were no employees nor staff costs for the year ended 5 April 2025 nor for the year ended 5 April 2024.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|
| Unrestricted | |
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 29,164 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable activity | 22,500 |
| Other | 1,980 |
| Total | 24,480 |
| Net gains/(losses) on investments | (14,772) |
| NET INCOME/(EXPENDITURE) | (10,088) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 522,571 |
| TOTAL FUNDS CARRIED FORWARD | 512,483 |
continued...
Page 10
GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025
9. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 6 April 2024 | 482,085 |
| Change in fair value | (1,686) |
| At 5 April 2025 | 480,399 |
| NET BOOK VALUE | |
| At 5 April 2025 | 480,399 |
| At 5 April 2024 | 482,085 |
There were no overseas investments at the balance sheet date.
The change in fair value on investments of £(1,686) is recognised in the statement of financial activities.
Cost or valuation at 5 April 2025 is represented by:
| Listed | ||
|---|---|---|
| investments | ||
| £ | ||
| Valuation in | 2025 | 480,399 |
| Investments at market value comprise:- Equities Managed Property Funds |
2025 £ 369,324 111,075 480,399 |
2024 £ 373,398 108,687 482,085 |
|---|---|---|
continued...
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GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other creditors | 1,980 | 1,980 | |||
| 11. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | |||||
| At 6.4.24 | in funds | At 5.4.25 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| Capital fund | 282,096 | (1,686) | 280,410 | ||
| Revenue fund | 230,387 | (1,148) | 229,239 | ||
| 512,483 | (2,834) | 509,649 | |||
| TOTAL FUNDS | 512,483 | (2,834) | 509,649 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in funds | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| Capital fund | - | - | (1,686) | (1,686) | |
| Revenue fund | 28,442 | (29,590) | - | (1,148) | |
| 28,442 | (29,590) | (1,686) | (2,834) | ||
| TOTAL FUNDS | 28,442 | (29,590) | (1,686) | (2,834) | |
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | |||||
| At 6.4.23 | in funds | At 5.4.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| Capital fund | 296,868 | (14,772) | 282,096 | ||
| Revenue fund | 225,703 | 4,684 | 230,387 | ||
| 522,571 | (10,088) | 512,483 | |||
| TOTAL FUNDS | 522,571 | (10,088) | 512,483 |
continued...
Page 12
GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| Capital fund | - | - | (14,772) | (14,772) |
| Revenue fund | 29,164 | (24,480) | - | 4,684 |
| 29,164 | (24,480) | (14,772) | (10,088) | |
| TOTAL FUNDS | 29,164 | (24,480) | (14,772) | (10,088) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Capital fund Revenue fund TOTAL FUNDS |
Net movement At 6.4.23 in funds £ £ 296,868 (16,458) 225,703 3,536 522,571 (12,922) 522,571 (12,922) |
At 5.4.25 £ 280,410 229,239 509,649 509,649 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| Capital fund | - | - | (16,458) | (16,458) |
| Revenue fund | 57,606 | (54,070) | - | 3,536 |
| 57,606 | (54,070) | (16,458) | (12,922) | |
| TOTAL FUNDS | 57,606 | (54,070) | (16,458) | (12,922) |
The capital fund comprises of the realised and unrealised gains on investments.
The revenue fund comprises the cumulative income, net of expenses and any amounts 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 used similarly.
continued...
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GOLDEN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2025
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2025 nor for the year ended 5 April 2024.
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