2022-09-30-accounts - East Gate Trust

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Charity number: 1009279

Company number: 02661917

(England and Wales)

EAST GATE TRUST

Report of the Trustees and Unaudited Financial Statements

For the year ended 30 September 2022

EAST GATE TRUST Contents Page For the year ended 30 September 2022

Report of the Trustees	1
Statement of Financial Activities	2
Statement of Financial Position	3
Notes to the Financial Statements	4 to 8
Detailed Statement of Financial Activities	9

EAST GATE TRUST Report of the Trustees

For the year ended 30 September 2022

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 30 September 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

Chair's report

During the year the company continued to fund the work of developing the barn and grounds at Thrigby and to hold meetings of a Christian nature.

During the year the trust finally sold the parcel of land in Breckland to release funds to help the misson of the trust move forward

The trustees are supporting the development of the gardens as part of the Open Gardens Christian movement to open the gardens to the public. They are working on landscaping the grounds and laying paths to the Mill

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity EAST GATE TRUST Charity registration number 1009279 Company registration number 02661917 Principal address Mill Cottage, Mill Road Thrigby Great Yarmouth Norfolk NR29 3DY

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Mr Peter Gillett Mrs Patricia Gillett Secretary Mr Peter Gillett

Approved by the Board of Trustees and signed on its behalf by

............................................................................. 28 June 2023 Mr Peter Gillett

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EAST GATE TRUST

Statement of Financial Activities (including Income and Expenditure account) For the year ended 30 September 2022

Notes Income and endowments from: Donations and legacies 2 Other income 3 Total Expenditure on: Charitable activities 4/5 Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted funds £ 892 88,889 89,781 (54,720) (54,720) 35,061 (11,616) 23,445	2021 £ 470 -
		470
		(8,144)
		(8,144)
		(7,674) (3,942)
		(11,616)

2 of 9

Registered Number : 02661917

EAST GATE TRUST Statement of Financial Position As at 30 September 2022

Notes Fixed assets Tangible assets 10 Current assets Stocks 11 12 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds 14 Total funds	£ 2022 7,276 7,276 120 196 54,167 54,483 (38,316) 16,167 23,443 23,443 23,445 23,445	£ 2021 11,652
		11,652
		120 196 69
		385
		(23,652) (23,267)
		(11,615)

		(11,615)
		(11,616)
		(11,616)

For the year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section
476,
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records
and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Mr Peter Gillett Trustee

28 June 2023

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EAST GATE TRUST Notes to the Financial Statements

For the year ended 30 September 2022

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006.

EAST GATE TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

The trustees concider that the Trust is a going concern.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and buildings	o% Straight line
Plant and machinery	10% Reducing balance

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2. Income from donations and legacies

Unrestricted funds Donations received	2021 2022 £ £ 470 892 470 892

3. Other income

Unrestricted funds Gains on disposal of heritage assets	2022 £ 88,889 88,889	2021 £ -
		-

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EAST GATE TRUST Notes to the Financial Statements Continued

For the year ended 30 September 2022

4. Costs of charitable activities by fund type

Unrestricted funds
Provision of meeting facilites
Support costs
osts of charitable activities by activity type
Activities undertaken directly
Provision of meeting facilites
Activity 2
nalysis of support costs
Governance costs
et income/(expenditure) for the year
This is stated after charging/(crediting):
Accountancy fees
Financial advice
(Gain)/Loss on disposal of heritage assets

2021
2022
£
£
7,219
13,235
925
41,485
8,144
54,720
2021
2022
£
£
16,892
8,144
37,828
-
54,720
8,144
2021
2022
£
£
41,485
925
2022
2021
£
£
250
125
13
-
(88,889)
-

5. Costs of charitable activities by activity type

6. Analysis of support costs

7. Net income/(expenditure) for the year

5 of 9

EAST GATE TRUST Notes to the Financial Statements Continued

For the year ended 30 September 2022

8. Staff costs and emoluments

Total staff costs for the year ended 30 September 2022 were:

	2022	2021
	£	£
Pension costs	13	-
	13	-
	2022	2021
Trustee's	2	2
	2	2

9. Comparative for the Statement of Financial Activities

The comparative year values on the Statement of Financial Activites are for unrestricted funds.

10. Tangible fixed assets

Cost or valuation At 01 October 2021 Additions Disposals At 30 September 2022 Depreciation At 01 October 2021 Charge for year At 30 September 2022 Net book values At 30 September 2022 At 30 September 2021	Land and buildings £ 7,500 - (7,500) - - - - - 7,500	Plant and machinery £ 21,218 3,932 - 25,150 17,066 808 17,874 7,276 4,152	Total £ 28,718 3,932 (7,500)
			25,150
			17,066 808
			17,874
			7,276
			11,652

11. Stocks and work in progress

Stock

2022 £ 120 120	2021 £ 120
	120

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EAST GATE TRUST Notes to the Financial Statements Continued

For the year ended 30 September 2022

12. Debtors

Amounts due within one year: Other debtors Creditors: amounts falling due within one year Trade creditors Other creditors Accruals and deferred income	2022 £ 196 196 2022 £ 1 38,065 250 38,316	2021 £ 196
		196
		2021 £ (1) 22,230 1,423
		23,652

13. Creditors: amounts falling due within one year

14. Movement in funds

Unrestricted Funds

General General Unrestricted Funds - Previous year General General	Balance at 01/10/2021 £ (11,616) (11,616) Balance at 01/10/2020 £ (3,942) (3,942)	Incoming resources £ 89,781 89,781 Incoming resources £ 470 470	Outgoing resources £ (54,720) (54,720) Outgoing resources £ (8,144) (8,144)	Balance at 30/09/2022 £ 23,445
				23,445
				Balance at 30/09/2021 £ (11,616)
				(11,616)

Purpose of unrestricted Funds

General

Supporting Thrigby Post Mill

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EAST GATE TRUST Notes to the Financial Statements Continued

For the year ended 30 September 2022

15. Analysis of net assets between funds

Unrestricted funds General General Previous year Unrestricted funds General General	Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 7,276 16,167 23,443
	7,276 16,167 23,443
	Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 11,652 (23,267) (11,615)
	11,652 (23,267) (11,615)

16. Company limited by guarantee

EAST GATE TRUST is a company limited by guarantee and accordingly does not have a share capital.

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EAST GATE TRUST Detailed Statement of Financial Activities

For the year ended 30 September 2022

INCOME AND ENDOWMENT Donations and legacies Donations Other income Gains on disposal heritage assets Total incoming resources EXPENDITURE Charitable activities Cost of direct charitable activity (Provision of meeting facilites) SUPPORT COSTS Governance costs Governance costs (Provision of meeting facilites) Governance costs (Activity 2) Total resources expended Net Income	£ 2022 892 892 88,889 88,889 89,781 (4,927) (13,235) (3,657) (37,828) (41,485) (54,720) 43,369	£ 2021 470
		470 -
		-
		470 (6,758)
		(7,219) (925) -
		(925)
		(8,144)
		(7,213)

9 of 9 This page does not form part of the statutory financial statements