Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
REGISTERED CHARITY NUMBER: 283250
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2024
for
The Goldschmied Charitable Settlement
Rosevale Hart Accountancy Limited 9 St Ann's Park Road London SW18 2RW
Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement
Contents of the Financial Statements for the Year Ended 5 April 2024
| 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 9 |
| Detailed Statement of Financial Activities | 10 |
Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement
Report of the Trustees
for the Year Ended 5 April 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 2024. 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 £84,298 (2023: £81,542) and made donations of £206,000 (2023: £30,000). The deficit for the year was £159,065 (2023: surplus £32,697).
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 B D 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 B D Goldschmied E Bailey
Independent Examiner
Rosevale Hart Accountancy Limited 9 St Ann's Park Road London SW18 2RW
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Docusign EnvelopÈ ID." 006386824A5443B6-A14A-FA8FA8D2B9E8 ort of the Twstees the Year Ended 5 04-/rt/.?f......... Approved by (¥d&r the board of tru8t883 On ................ . . ... . . .... and signed on its B D Gcdscmied. Trustee Page 2
Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
Independent Examiner's Report to the Trustees of
The Goldschmied Charitable Settlement
Independent examiner's report to the trustees of The Goldschmied Charitable Settlement
I report to the charity trustees on my examination of the accounts of The Goldschmied Charitable Settlement (the Trust) for the year ended 5 April 2024.
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
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the accounts do not accord with those records; or
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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.
Joanna Hart
Rosevale Hart Accountancy Limited 9 St Ann's Park Road London SW18 2RW
Date: .............................................6 February 2025
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Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement
Statement of Financial Activities for the Year Ended 5 April 2024
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities Angus' Giant Pledge The Marco Goldschmied Foundation The Revelation Foundation Governance Costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.24 5.4.23 Unrestricted Total fund funds £ £ 82,424 81,542 23,873 10,066 - 5,000 203,000 25,000 3,000 - 11,616 8,779 241,489 48,845 (159,065) 32,697 1,541,806 1,509,109 1,382,741 1,541,806 |
5.4.24 5.4.23 Unrestricted Total fund funds £ £ 82,424 81,542 23,873 10,066 - 5,000 203,000 25,000 3,000 - 11,616 8,779 241,489 48,845 (159,065) 32,697 1,541,806 1,509,109 1,382,741 1,541,806 |
|---|---|---|
| 10,066 5,000 25,000 - 8,779 |
||
| 48,845 | ||
| 32,697 1,509,109 |
||
| 1,541,806 |
The notes form part of these financial statements
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Docusign EnvelopÈ ID." 006386824A5443B6-A14A-FA8FA8D2B9E8 5.4.24 Lkwe8tFidwJ nd 5.423 Total funds Note8 FIXED ASSETS Tangible assets 1.352,808 I,327.8 CURRENT AsseTS Debtors Cash at Ik 102.796 30,163 314,5LP3 22,399 132,959 ,9)8 cREToRs Amnts falling due within one ye (30.935) (28,935) NET CURRENT ASSETS 102,024 7,9n TOTAL ASSETS LESS CURRENT UABILITIES 1.454.932 1,635,881 CREDITORS (72.191) (94,075) NET ASSETS 1.382.741 1.541,K Unrestricted funds 1.382.741 1.541.ec TOTAL FUNDS 1,382.741 1,541.K6 The fin81 statern q)probd by the Board of TnTStees and autirisod fLY IU8 c c4/o£/ri¥......... d V4Yre gned on its behalf by: Trustee Page 5
Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement
Notes to the Financial Statements
for the Year Ended 5 April 2024
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.
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Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
2. INVESTMENT INCOME
| Rents received Insurance recharge Deposit account interest 3. RAISING FUNDS Investment management costs Property repairs |
5.4.24 £ 72,000 6,285 4,139 82,424 5.4.24 £ 15,746 |
5.4.23 £ 72,000 5,569 3,973 |
|---|---|---|
| 81,542 | ||
| 5.4.23 £ 3,097 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds Charitable activities Angus' Giant Pledge The Marco Goldschmied Foundation Governance Costs Total NET INCOME |
Unrestricte fund £ 81,542 10,066 5,000 25,000 8,779 48,845 32,697 |
|---|---|
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Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricte | |||
|---|---|---|---|
| fund | |||
| £ | |||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,509,109 | ||
| TOTAL FUNDS CARRIED | |||
| FORWARD | 1,541,806 | ||
| 6. | TANGIBLE FIXED ASSETS | ||
| Freehold | |||
| property | |||
| £ | |||
| COST | |||
| At 6 April 2023 | 1,327,908 | ||
| Additions | 25,000 | ||
| At 5 April 2024 | 1,352,908 | ||
| NET BOOK VALUE | |||
| At 5 April 2024 | 1,352,908 | ||
| At 5 April 2023 | 1,327,908 | ||
| The freehold land and buildings, which had an original cost of £1,352,908 (2023 | :£1,327,908 | ||
| were valued at 5 April 2024 on an open market existing use basis | by the trustees. | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 5.4.24 | 5.4.23 | ||
| £ | £ | ||
| Other debtors | 102,796 | 314,509 |
The freehold land and buildings, which had an original cost of £1,352,908 (2023:£1,327,908) were valued at 5 April 2024 on an open market existing use basis by the trustees.
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Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement
Notes to the Financial Statements - continued
for the Year Ended 5 April 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Bank loans and overdrafts (see note 10) Other creditors Accrued expenses |
5.4.24 £ 22,055 6,000 2,880 30,935 |
5.4.23 £ 22,055 6,000 880 |
| 28,935 |
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
| 5.4.24 | 5.4.23 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans (see note | 10) | 72,191 | 94,075 |
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:
| Amounts falling due within one year on demand: Bank loans Amounts falling due between two and five years: Bank loans - 2-5 years |
5.4.24 £ 22,055 72,191 |
5.4.23 £ 22,055 |
|---|---|---|
| 94,075 |
11. RELATED PARTY DISCLOSURES
At the balance sheet date a loan was released by way of a donation by the charity of £176,000 for The Marco Goldschmied Foundation. The Marco Goldschmied Foundation is considered a related party by virtue of the fact that B D Goldschmied is a trustee.
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Docusign Envelope ID: 00638682-4A54-43B6-A14A-FA8FA8D2B9E8
The Goldschmied Charitable Settlement Detailed Statement of Financial Activities for the Year Ended 5 April 2024
| INCOME AND ENDOWMENTS Investment income Rents received Insurance recharge Deposit account interest Total incoming resources EXPENDITURE Other trading activities Bank loan interest Mortgage Investment management costs Property repairs Charitable activities Grants to institutions Support costs Management Light and heat Governance costs Insurance Accountancy and legal fees Total resources expended Net (expenditure)/income |
5.4.24 £ 72,000 6,285 4,139 82,424 82,424 493 7,634 8,127 15,746 206,000 253 6,865 4,498 11,363 241,489 (159,065) |
5.4.23 £ 72,000 5,569 3,973 |
|---|---|---|
| 81,542 | ||
| 81,542 638 5,982 |
||
| 6,620 3,097 30,000 349 5,899 2,880 |
||
| 8,779 | ||
| 48,845 | ||
| 32,697 |
This page does not form part of the statutory financial statements
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