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 1 of 9 ## 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 3 of 9 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**
**£**
-| |---|---|---| |||**-**| 4 of 9 ## 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**| 6 of 9 ## 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 7 of 9 ## 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. 8 of 9 ## 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