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
Page 1
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 Gc*dsc*mied. 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:
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.
Joanna Hart
Rosevale Hart Accountancy Limited 9 St Ann's Park Road London SW18 2RW
Date: .............................................6 February 2025
Page 3
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
Page 4
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)prob*d 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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continued...
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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continued...
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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continued...
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
Page 10