**REGISTERED CHARITY NUMBER: 283250**
## Report of the Trustees and
## Unaudited Financial Statements for the Year Ended 5 April 2022
## for
## The Goldschmied Charitable Settlement
Rosevale Hart Accountancy Limited 9 St Ann's Park Road London SW18 2RW
The Goldschmied Charitable Settlement
Contents of the Financial Statements for the Year Ended 5 April 2022
||Page|
|---|---|
|Report of the Trustees|1 to 2|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the Financial Statements|6 to 10|
|Detailed Statement of Financial Activities|11|
The Goldschmied Charitable Settlement
## Report of the Trustees
for the Year Ended 5 April 2022
The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. 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 charity's objectives are the support of general charitable activities. there are no restricted or endowment funds.
The charity continued to let its property to Only Connect UK.
During the year the charity generated income of £67,944 (2021:£38,789) and made no donations (2021:£8,000). The surplus for the year was £13,784 (2021: £2,372 deficit).
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing objectives and activities.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity was established by a charitable trust deed on 7 August 1981.
The day to day running of the charity is managed by the trustees. The settlor of the charity is M L S Goldschmied, who has the power of appointing new trustees.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
283250
## **Principal address**
39 Ravensbury Road London SW18 4SA
## **Trustees**
Mrs A Goldschmied M L S Goldschmied (resigned 7.7.22) B D Goldschmied (appointed 8.7.22)
## **Independent Examiner**
Rosevale Hart Accountancy Limited 9 St Ann's Park Road London SW18 2RW
Page 1
Th
ble Setuem
Re
f r th Year End1 5 A
ri12022
Approv8J by order of Ihe board of twstees on
behalf by..
I.1..TO.jW .2o.z and signed on ts
Mrs A Goldschmied - Trustee
Page 2
Inde
endent Examine¢s Re
ort lo the Trustees of
The Goldschmied Chantabl Settlemen
Independent •xaminee8 report to tho trusteès of Tha Goldschmiod Charltable Settlement
I report to Ihe charity trustees on my examination of the accounts of The Goldschmied Charitabie
Settlement (Ihe Trust) for the year ended 5 April 2022.
Responsibilities and basis of report
As the charity trustees of the Trusl you are responsible for the preparation of the accounts in
accordance with ihe requirements of the Charities A¢t 2011 Cthe Act,).
I report in respect of my examination of the Trusvs accounts carried out under sedion 145 of the
Act and in carying out my examination I have followed all aPiCable Directions given by the
Charity Commission under section 145(5)(b) of the ACL
Independent examlnefs statement
I have completed my examination. I confirn) that no material matters have come to my attention in
onnection 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
Art., or
the accounts do not accord with those records: or
the accounts do not comply with the applicable requirements conMIng the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other
than any requirement that the a¢¢ounts give a true and fair view which Is not a matter
onsidered as part of an independent examination.
I have no coneems and have come auoss 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.
Joanna Hart
FCCA
Rosevale Hart Accountancy rnited
9 St Ann's Park Road
London
SW18 2RW
Date: .
Page 3
The Goldschmied Charitable Settlement
## Statement of Financial Activities for the Year Ended 5 April 2022
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Southampton Oncology Trust
Friends of St Stephens
Tempo Tots
Governance Costs
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|5.4.22
5.4.21
Unrestricted
Total
fund
funds
£
£
67,944
38,789
43,430
20,372
-
5,000
-
1,000
-
2,000
10,730
12,789
54,160
41,161
13,784
(2,372)
1,495,325
1,497,697
1,509,109
1,495,325|
|---|---|
The notes form part of these financial statements
Page 4
Th
ble SettE
Balance Sheet
5.4.22
Unrestricted
fund
5.4.21
Tolal
ftjnds
Notes
FIXED ASSErs
Tangible assets
1,327,908 1,327,8
CURRENT ASSErs
Debtors
Cash at bank
310,536
15,670
307,155
18.433
326.206
325,588
CREDITORS
Amounts falling due wthin one year
(28.373)
(18,047)
NET CURRENT ASSETS
297.833
307,541
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,825,741
1,635,449
CREDITORS
Amounts falling due after more than one
year
{116.632) {140,124)
NET ASSETS
1,509.109 1,495,325
FUNDS
Unrestricted fvnds
1.509.109 1,495,325
TOTAL FUNDS
1.509.109
1,495,325
The finanrial state
ents were approved by the Board of Trustees and authorised for issue on
nd were signed on its behalf by..
Trustee
The notes form part of these financial ststements
Page 5
The Goldschmied Charitable Settlement
Notes to the Financial Statements for the Year Ended 5 April 2022
## **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.
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.
## **Tangible fixed assets**
Investment properties are included in the Statement of Financial Position at their open market value determined annually by the trustees or external valuers and derived from the current market rents and investment property yields for comparable real estate. No depreciation is provided. Changes in fair value are recognized in the Statement of Financial Activities.
## **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.
Page 6
continued...
The Goldschmied Charitable Settlement
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
|**2.**
**INVESTMENT INCOME**
Rents received
Insurance recharge
Deposit account interest
**3.**
**RAISING FUNDS**
**Raising donations and legacies**
Support costs
**Investment management costs**
Property repairs
Aggregate amounts
**4.**
**TRUSTEES' REMUNERATION AND BENEFITS**
Trustees' fees|5.4.22
£
60,001
5,562
2,381
67,944
5.4.22
£
-
5.4.22
£
38,575
43,430
5.4.22
£
-|5.4.21
£
31,500
606
6,683|
|---|---|---|
|||38,789|
|||5.4.21
£
93
5.4.21
£
138|
|||20,372|
|||5.4.21
£
10,625|
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
Page 7
continued...
The Goldschmied Charitable Settlement
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Southampton Oncology Trust
Friends of St Stephens
Tempo Tots
Governance Costs
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED**
**FORWARD**
**6.**
**TANGIBLE FIXED ASSETS**
**COST**
At 6 April 2021 and 5 April 2022
**NET BOOK VALUE**
At 5 April 2022
At 5 April 2021||Unrestricte
fund
£
38,789
20,372
5,000
1,000
2,000
12,789
41,161
(2,372)
1,497,697
1,495,325
Freehold
property
£
1,327,908
1,327,908
1,327,908|
|---|---|---|
||||
||||
The freehold land and buildings, which had an original cost of £1,327,908 (2021:£1,327,908) were valued at 5 April 2022 on an open market existing use basis by the trustees.
Page 8
continued...
The Goldschmied Charitable Settlement
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
|**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
5.4.22
£
Other debtors
310,536
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
5.4.22
£
Bank loans and overdrafts (see note 10)
21,553
Other creditors
6,000
Accrued expenses
820
28,373
The bank loan is secured by a fixed and floating charge over the freehold property.
**9.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
5.4.22
£
Bank loans (see note 10)
116,632
The bank loan is secured by a fixed and floating charge over the freehold property.
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
5.4.22
£
Amounts falling due within one year on demand:
Bank loans
21,553
Amounts falling due between two and five years:
Bank loans - 2-5 years
116,632|5.4.21
£
307,155|5.4.21
£
307,155|
|---|---|---|
||5.4.21
£
15,747
-
2,300
18,047
5.4.21
£
140,124|5.4.21
£
15,747
-
2,300|
|||18,047|
||5.4.21
£
15,747||
||140,124||
Page 9
continued...
The Goldschmied Charitable Settlement
Notes to the Financial Statements - continued for the Year Ended 5 April 2022
## **11. RELATED PARTY DISCLOSURES**
At the balance sheet date there was a loan owed to the charity of £176,000 (2021:£175,000) by The Marco Goldschmied Foundation. The Marco Goldschmied Foundation is considered a related party by virtue of the fact that M L S Goldschmied (deceased) was a trustee.
Page 10
The Goldschmied Charitable Settlement
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 5 April 2022|||
||5.4.22|5.4.21|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Rents received|60,001|31,500|
|Insurance recharge|5,562|606|
|Deposit account interest|2,381|6,683|
||67,944|38,789|
|**Total incoming resources**|67,944|38,789|
|**EXPENDITURE**|||
|**Other trading activities**|||
|Bad debts|-|1,831|
|Bank loan interest|176|-|
|Mortgage|4,679|5,245|
||4,855|7,076|
|**Investment management costs**|||
|Property repairs|38,575|138|
|**Charitable activities**|||
|Grants to institutions|-|8,000|
|**Support costs**|||
|**Management**|||
|Light and heat|12|78|
|**Finance**|||
|Bank charges|-|15|
|**Governance costs**|||
|Trustees' fees|-|10,625|
|Insurance|5,646|5,423|
|Accountancy and legal fees|5,072|9,806|
||10,718|25,854|
|Total resources expended|54,160|41,161|
|**Net income/(expenditure)**|13,784|(2,372)|
This page does not form part of the statutory financial statements
Page 11