ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 GATEWAY CHURCH LEYTON CHARITY REGISTRATION NUMBER: 1051913 Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham P018 8NF GATEWAY CHURCH LEYTON CONTENTS Page 3 Legal and Administrative Information Page 4-5 Trustees, Report Pages 6 Independent Examinevs Report on the Accounts Page 7 Statement of Re￿Ipts and Payments Page 8 statement of Assets and Liabilities Pages 9 to 11 Notes to the Accounts GATEWAY CHURCH LEYfoN LEGAL AND ADMINISTRATIVE INFORMATION CHARITY NUMBER 1051913 START OF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st March 2024 LEGAL STATUS Unincorporated Charity TRUSTEES DURING THE YEAR ENDING 31ST MARCH 2024 Amarh Amartey (Chair) Ruth Amartey David How The existing trustees appoint any new trustees following the provisions laid out in the Charity's goveming instrurnent. GOVERNING INsfRUMENT Trust Deed Dated 21st November 1995, amended by Deed of Variation on 2nd December 2015. OBJEcrs a) To advance the Christian faith in accordance with the statement of beliets appearing in the schedule hereto in the London borough of Waltham Forest and in such other Pa￿ of the United Kingdom or the World as the trustees may from time to time think fit. b) To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said London borough and in such other parts of the United Kingdom or the World as the trustees may from time to time think fit. c) To promote and fulfil such other charitable purposes beneficial to the community in the said London borough and in such other parts of the United Kingdom or the World as the trustees may from time to time think fit. CORRESPONDENCE ADDRESS 42 Forest Drive East, Leytonstone London Ell IJY PRIMARY BANKERS HSBC Bank PIC 20-21 Electric Parade George Lane South Woodford London E18 2LX INDEPENDENT EXAMINER Z Derbak Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham P018 8NF GATEWAY CHURCH LEYfoN TRUSTEES REPORT FOR THE YEAR ENDED 31ST MARCH 2024 Correspondence address: 42 Forest Drive East, Leytonstone, London, Ell IJY Trustees: Acting for the whole year.. Amarh Amartey (Chair of trustees), Ruth Amartey and David How. Gateway Church Leyton is a charitable trust. The goveming document is a Trust Deed dated 111111996. amended by Deed of Variation on 211212015. New trustees are identified and appointed by the existing trustees. The charity is financially dependent on the voluntary support of its church members. The Church Leadership Team is responsible for making decisions concerning the day to day running and finances of the church. It currently doe5 riot employ salaried stsff. Summary of objects as set out in the governlng document.. To advance the Christian faith. To relieve persons who are in conditions of need or hardship. To promote other charitable purposes beneficial to the community. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit befo deciding what activities the charity should undertake. Summary of the main activities to further the trusvs charitable purposes for public benefit: Regular Sunday moming meetings for worship and teaching in Leystonstone School, London Ell, which are open to all. Seminars to which other local churches are invited. Meetings held regulady each week, in the homes of various members of the church, for prayer, teaching and fellowship. Involvement of members in evangelistic and training events. Local outdoor service at Christmas & Easter and public distribution of Christian literature. Regular financial support to other Christian organisations as well as individuals working locally & overseas in accordance with the objectives of the Trust. Our web site, www.gatewaychurchleyton.orgi IS updated regularly to provide infomiation about the church, recordings of talks & seminars, together with notices of future events. In view of the continuing high level of unrestritted funds, we anticipate that in the next financial year we shall give further substantial financial support for various projects in accordance with the objectives of the Trust. The Trustees are confident that adequate a55ets are available to fulfil the existing obligations of the trust. Risk assessment The Trustees actively review the major risks which the charity fa￿ on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. Financial Review The charity has maintained its level of income in line with previous financial years as a result of continued stability in church membership and consistent levels of giving by a core group of donors. Expenditure has also been maintained at the level of the previous financial year. As a result of the charity being run solely by volunteers, gifts to speakers, worship leaders, other individuals and organisations constitute a significant proportion of annual expenditure (45 % this financial year amounting to £17.9k). Budgets and final reported net position for the charity remain at a net expenditure position (£11.5k this financial year and £13.Ok in the previous financial year). to ensure the Charity is expending its reserves down in line with its charitable objectives at a rate which sees it operate closer to its target minimum reserves of £30k in future years. The church leadership continue to expend excess reserves through increasing regular giving to organisations for a defined period and provide one off donations. The Trustees review the minimum reserves policy on an annual basis and ensu￿ budgets set are ensuring the charity only holds a ￿aSonable level of reserves. GATEWAY CHURCH LEYfoN TRUSTEES REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2024 Reserves Policy The Trustees have considered the level of re5enies they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily. Trustees Responsibilities The Charities Act 1993 require the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the trust and of the surplu5 of the trust for that period. In preparing those financial statements the trustees are required to: Select suitable accounting policies and apply them consistently Make judgements and estimates that are reasonable and prudent Prepare financial statements on the going concem basis unless it is inappropriate to presume that the trust will continue in existence. The trustees are responsible for keeping proper accounting records, which disclose with ￿asonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on- yJoi)ZoLS Signed on behalf of the trustees by Amar Amartey, Chair of trustees: Printed Name: Amarh Amartey (Chair of Trustees) ## **INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS** Report to the Trustees of Gateway Church Leyton on the accounts for the year ended 31st March 2024 set out on pages 7 to 11. ## **Responsibilities and basis of report** As the charity’s trustees of the charitable company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the charitable company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or • the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or - the accounts have not been prepared in accordance with the Charities SORP (FRS102). 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. Zita Derbak MAAT AATQB Signed: Independent Examiners Ltd UNIT 2, The Broadbridge Business Centre Date: 23.01.2025 Delling Lane Bosham PO18 8NF 6 GATEWAY CHURCH LEYfoN STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Unrestricted Restricted Funds Funds Total 2023124 Total 2022123 Notes RECEIPTS . Donations & Legacies 2a 26,136 815 26,951 28,873 Investment Income 2b 981 981 230 TOTAL RECEIPTS 27.117 815 27,932 29,103 PAYMENTS . Costs of Charitable Activities 3a 37,993 815 38,808 41,267 Govemance Costs 3b 720 720 690 TOTAL PAYMENTS 38,713 815 39,528 41,957 NET INCOMING/(OUTGOING) RESOURCES (11.596) (11,596) (12,854) Balances Brought Forward 68,155 70 68,225 81,078 BALANCES CARRIED FORWARD 56,560 70 56,630 68,225 All of the Charity's operations are classed as continuing operations. GATEWAY CHURCH LEYfoN STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31ST MARCH 2024 Unrestricted Restrirted Fund Fund Total Total 31-Mar-24 31-Mar-23 ASSETS Cash Funds: HSBC Current Account HSBC Deposit Account Santander Deposit Account 3.610 41,696 11,254 56,560 70 3,680 41,696 11,254 56,630 6,796 50,311 11,118 68.225 70 Represented By: General Funds Restritted Funds 56.560 56,560 70 56,630 68,155 70 68,225 70 70 56,560 Other Monetary Assets Gift Aid owed for FY 20121 to FY 23124 21,702 21,702 Assets retained for the Charlty'5 own use Church Equipment 23,623 23,623 23,623 23,623 23,623 LIABILITIES Independent Examiners Fee 756 756 756 756 720 720 TRusfEES RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS Charity Law requires the Trustees to prepare financial statements for each financial year which comply with the regulations set out in the Charities Act 2011. The Trustees have elected to take advantage of the provisions that apply to small charities and have prepared a receipts & payments account and statement of assets & liabilities set out on pages 7 and 8. Approved by the Trustees on,.. wi..l.oiJ.Lo.F............ Signed on their behalf by Trustee, Printed Name.. Amarh Amartey (Chair of Trustees) ## **GATEWAY CHURCH LEYTON** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31ST MARCH 2024** ## **1. BASIS OF ACCOUNTING** The accounts have been prepared under the “Receipts and Payments” basis as prescribed by the Charity Commissioners and the accounts meet the appropriate legal requirements. |**2. RECEIPTS**
Note
**a) Donations & Legacies**
GASDS Donations
Gift Aid Donations
Income Tax Recovered
Non Gift Aid donations
**4**
**b) Investment Income**
Bank Interest|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2023/24**
**2022/23**
£
£
**£**
**£**
2,638
60
2,698
2,414
19,239
690
19,929
21,210
-
-
-
100
4,259
65
4,324
5,149
**26,136**
**815**
**26,951**
**28,873**
981
-
981
981
**981**
**-**
**981**
**981**| |---|---| 9 GATEWAY CHURCH LEYfoN NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024 3. PAYMENTS un￿StriCted Restricted Funds Funds Total 2023124 Total 2022123 Note a) Costs of Charitable Activities Gifts Gifts to Or ani Elim Food Bank Evangelical Alliance Ichthus Christian Fellowship International Health Partners Love in Action Noor Ministries Open Doors Samaritans Purse Transform Europe Now Waltham Forest Youth for Christ Worth Unlimited idual Ministries 1,200 200 900 600 600 2.200 400 1.200 200 900 600 600 2.200 400 848 1,400 2,950 6,073 900 loo 2,000 4,700 600 2,585 1,200 815 3,400 1,200 2,900 4,260 17,045 2,900 4,260 17,860 1.602 4,500 25,673 Gifts to Sun Subtotal 815 Ministry and operational costs Bank Charges Capital Purchases Church Functions Hall Rent Office Insurance & Subscriptions Music & Worship Outreach Sundry Expenses Training & Personal Ministry Youth & Children's Work Subtotal 155 155 160 499 1,239 11,665 1,162 11,770 275 783 132 62 574 5,367 668 20,948 1,162 11,770 275 783 132 62 574 5,367 668 20,948 651 123 293 13 707 244 15,594 37,993 815 38,808 41,267 b) Governance Costs Independent Examiners Fees 720 720 690 720 720 690 10 GATEWAY CHURCH LEYfoN NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024 4. RESTRICTED FUNDS CURRENT FINANCIAL YEAR Balance 01-Apr-23 Balance 31-Mar-24 Income Expenditure Church Fellowship Fund Transform Europe Now 70 70 815 (815) 70 815 815 70 PREVIOUS FINANCIAL YEAR Balance 01-Apr-22 Balance 31-Mar-23 Income Expenditure Church Fellowship Fund N Mayiga - Love in Attion - Uganda Transform Europe Now Ukraine Support 70 102 70 (102) (200) (500) 200 500 172 700 802) 70 Transform Europe Now: Giving towards harvest for the hungry. Church Fellowship Fund.. Non Gift Aid. Maylga: Noah Mayiga working for Love in Action Uganda. The restritted funds are wholly ￿presented by the Charity's cash reserves and are to be expended as specified above. 5. PAYMENTS TO TRUSTEES A total payment of £6,049 were made to trustees for their out-of-pocket expenses in this financial year (2022123: £1688). These are mainly due to the ministry related travels that took place in the year. Two trustees donated a total of £5, 180 as unconditional gifts to the charity. No other material transattion took place between the organisation or any person connected to trustees. (2022123:None) 6. PUBLIC BENEFIT The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or 'aims' that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.