**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 

Page 2 



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: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. 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... 

Page 7 



**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<br>**4.**<br>**GRANTS PAYABLE**<br>Charitable activity|2025<br>£<br>28,442|2024<br>£<br>29,164<br>2024<br>£<br>22,500|
|---|---|---|
||2025<br>£<br>27,550||



continued... 

Page 8 



**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<br>Child Poverty Action Group<br>Shelter<br>Combat Stress<br>Ink Festival<br>Trussell Trust<br>Medecins Sans Frontieres (UK)<br>Centerpoint Soho<br>DEC Afghanistan<br>Refuge<br>Suffolk Refugee Support CAF<br>Aldeburgh Cinema Trust<br>Amna Refugee Healing Network<br>Holton Pits<br>Theberton and Eastbridge Action Group on Sizewell<br>New Cut Arts<br>Yachad<br>Poetry in Aldeburgh<br>The London Library<br>The Pear Tree Fund<br>East Anglia's Children's Hospice<br>Alzheimer's Society|2025<br>£<br>500<br>1,000<br>3,000<br>500<br>1,000<br>5,000<br>2,000<br>-<br>-<br>3,000<br>2,000<br>500<br>-<br>-<br>1,000<br>3,000<br>250<br>500<br>2,000<br>1,000<br>1,000<br>300<br>27,550|2024<br>£<br>500<br>1,000<br>3,000<br>500<br>1,000<br>5,000<br>2,000<br>1,000<br>2,000<br>2,000<br>1,500<br>500<br>1,000<br>500<br>1,000<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
|---|---|---|
|||22,500|



## **5. SUPPORT COSTS** 

|Other resources expended<br>Independent examination fees|Governance<br>costs<br>£<br>2,040<br>2025<br>2024<br>£<br>£<br>2,040<br>1,980<br>2,040<br>1,980|
|---|---|



continued... 

Page 9 



**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:-<br>Equities<br>Managed Property Funds|2025<br>£<br>369,324<br>111,075<br>480,399|2024<br>£<br>373,398<br>108,687<br>482,085|
|---|---|---|



continued... 

Page 11 



**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**<br>Capital fund<br>Revenue fund<br>**TOTAL FUNDS**|Net<br>movement<br>At 6.4.23<br>in funds<br>£<br>£<br>296,868<br>(16,458)<br>225,703<br>3,536<br>522,571<br>(12,922)<br>522,571<br>(12,922)|At 5.4.25<br>£<br>280,410<br>229,239<br>509,649<br>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... 

Page 13 



**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. 

Page 14