| Page | |
|---|---|
| ReportoftheTrustees | 1-8 |
| ReportoftheIndependentAuditor | 9-12 |
| StatementofFinancialActivities | 13 |
| BalanceSheet | 14 |
| StatementofCashFlows | 15 |
| NotestotheFinancialStatements | 16-27 |
City Gateway Contents of the financial statements for the year ended 31 August 2023
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023
The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' 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).
Registered Company number 03760619 (England and Wales)
Registered Charity number 1078360
Registered Office The Pavilion Import Building, 2 Clove Crescent, London, E14 2BE
TRUSTEES
Adam Pizzey - Chair (from 20 March 2024) Kenny lmafidon - Chair (resigned 20 March 2024) Clive Mills Barri Disu (Appointed 18 May 2023) Rafaela Amusu (Appointed 18 May 2023) Marva Orianwo (Appointed 20 July 2023) Florence Pon le (Appointed 17 January 2024) Kate Vintiner (Resigned 26 October 2023) Yvonne Bajela (Resigned 20 March 2024) Uchechi Okereke (Resigned 26 October 2023) David Wesson (Resigned 20 March 2024)
CHIEF EXECUTIVE
Diane Betts
AUDITOR
Forvis Mazars LLP, 6 Sutton Plaza, Sutton Court Road, Sutton SM1 4FS
BANK
National Westminster Bank, PO Box 282, 216 Bishopsgate, London, EC2M 4QB
City Gateway
Independent Auditor's Report for the year ended 31 August 2023
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Making enquiries of the trustee and management on whether they had knowledge of any actual, suspected or alleged fraud;
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Gaining an understanding of the internal controls established to mitigate risks related to fraud;
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Discussing amongst the engagement team the risks of fraud; and
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Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of the audit report
This report is made solely to the charity's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body for our audit work, for this report, or for the opinions we have formed.
Nicola Wakefield (Jun 14, 2024 12:20 GMT+1)
Nicola Wakefield (Senior Statutory Auditor} for and on behalf of Forvis Mazars LLP Chartered Accountants and Statutory Auditor
6 Sutton Plaza Sutton Court Road Sutton SM1 4FS
Date: 14-Jun-2024
12
| General | Restricted | Yearended | Year | ||
|---|---|---|---|---|---|
| Funds | funds | 31August | ended31 | ||
| 2023Total | August | ||||
| Funds | 2022Total | ||||
| Funds | |||||
| Note | £ | £ | £ | £ | |
| Income | |||||
| Donationsandlegacies | 2 | 256,666 | 191,702 | 448,368 | 460,026 |
| Incomefrominvestments | 3,696 | 3,696 | 188 | ||
| Incomefromcharitableactivities | 3 | 909,867 | 54,128 | 963,995 | 1,192,123 |
| TotalIncome | 1,170,229 | 245,830 | 1,416,059 | 1,652,337 | |
| Expenditure | |||||
| CharitableActivities | 4 | 1,161,766 | 235,830 | 1,397,596 | 1,629,575 |
| Totalexpenditure | 1,161,766 | 235,830 | 1,397,596 | 1,629,282 | |
| NETINCOMING/(OUTGOING) | |||||
| RESOURCESBEFORE | 8,463 | 10,000 | 18,463 | 22,762 | |
| TRANSFERS | |||||
| Transfersbetweenfunds | |||||
| NETINCOMING/(OUTGOING) | |||||
| RESOURCES | 8,463 | 10,000 | 18,463 | 22,762 | |
| Otherrecognisedgains/losses | |||||
| Gains/lossesoninvestment | |||||
| assets | |||||
| Netmovementinfunds | |||||
| 8,463 | 10,000 | 18,463 | 22,762 | ||
| RECONCILIATIONOFFUNDS | |||||
| Totalfundsbroughtforward | 153,310 | 153,310 | 130,548 | ||
| TOTALFUNDSCARRIED | 161,773 | 10,000 | 171,773 | 153,310 | |
| FORWARD |
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| FIXEDASSETS | |||
| Tangibleassets | 8 | 102,242 | 153,758 |
| Intangibleassets | 8 | 3,602 | 12,251 |
| Investments | 9 | 621 | 621 |
| Investmentinsubsidiary | 9 | 100 | 100 |
| 106,566 | 166,730 | ||
| CURRENTASSETS | |||
| Debtors:amountsfallingduewithinoneyear | 10 | 313,342 | 375,445 |
| Cashatbankandinhand | 383,794 | 352,934 | |
| 697,136 | 728,379 | ||
| CREDITORS | |||
| Amountsfallingduewithinoneyear | 11 | (239,862) | (431,631) |
| NETCURRENTASSETS | 457,274 | 296,748 | |
| CREDITORS | |||
| Amountsfallingdueaftermorethanoneyear | (392,067) | (310,168) | |
| NETASSETS | 171,773 | 153,310 | |
| FUNDS | |||
| GeneralFunds | 12 | 161,773 | 153,310 |
| Restrictedfunds | 13 | 10,000 | |
| TOTALFUNDS | 171,773 | 153,310 |
| 2023 | 2023 | 2022 | 2022 | |
|---|---|---|---|---|
£ |
£ |
£ |
£ |
|
| Cashflowsfromoperatingactivities: | ||||
| NetSurplus | 18,463 | 22,762 | ||
| Adjustmentsfor: | ||||
| Depreciation | 52,561 | 48,907 | ||
| Amortisation | 8,699 | 8,647 | ||
| Interestincome | (3,696) | (188) | ||
| Interestexpense | 1,809 | 4,961 | ||
| Tradeandotherdebtors | 62,105 | (213,834) | ||
| Tradeandothercreditors | (72,630) | (46,643) | ||
| Cashflowsgeneratedby/usedinoperating | 67,311 | (175,388) | ||
| activities | ||||
| Purchaseofpropertyplantandequipment | (1,098) | (25,420) | ||
| Interestreceived | 3,696 | 188 | ||
| Cashflowsgeneratedby/usedininvesting | 2,598 | (25,232) | ||
| activities | ||||
| Interestpaid | (1,809) | (4,961) | ||
| Loansrepaidintheyear | (37,240) | (81,472) | ||
| Cashusedbyfinancialactivities | (39,049) | (86,433) | ||
| NetIncrease/(decrease)incash | 30,860 | (287,053) | ||
| Cashbalanceat1September | 352,934 | 639,987 | ||
| Cashbalanceat31August | 383,794 | 352,934 |
| 2 | VOLUNTARYINCOME | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Individualdonations&Fundraisingevents | 14,831 | 51,723 | |
| Corporatedonations | 433,537 | 383,224 | |
| Giftsinkind(seenote16) | |||
| Other | 25,079 | ||
| 448,368 | 460,026 | ||
| 3 | INCOMINGRESOURCESFROMCHARITABLE ACTIVITIES |
||
| Statutoryincome | 675,820 | 904,363 | |
| Othergrantsandcontracts | 288,175 | 287,760 | |
| 963,995 | 1,192,123 |
| Young | ||||
|---|---|---|---|---|
| People's | ||||
| Education, Training |
Apprentic eships |
2023 | 2022 | |
| and | ||||
| Progression | ||||
| £ | £ | £ | £ | |
| Directcharitableactivities | 570,025 | 159,036 | 729,061 | 890,362 |
| Supportcosts | 522,699 | 145,836 | 668,535 | 739,213 |
| Total | 1,092,724 | 304,872 | 1,397,596 | 1,629,575 |
| Supportcostsbrokendownby | ||||
| activity | ||||
| Seniormanagement | 118,529 | 33,070 | 151,599 | 145,122 |
| Finance&Datamanagement | 166,085 | 46,337 | 212,422 | 249,163 |
| Premises,Facilities&IT | 133,801 | 37,330 | 171,131 | 146,728 |
| HR&Staffdevelopment | 15,504 | 4,326 | 19,830 | 38,377 |
| Marketing&Communication | 88,780 | 24,769 | 113,549 | 159,823 |
| Totalsupportcosts | 522,699 | 145,832 | 668,531 | 739,213 |
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Auditors'remuneration | 18,600 | 13,200 | |
| 5b | NETINCOME | ||
| Netincomingresourcesarestated | |||
| aftercharging: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Auditors'remuneration-auditfees | 18,600 | 13,200 | |
| Depreciation/amortisation-owned | 61,260 | 57,553 | |
| assets | |||
| Otheroperatingleases | 102,407 | 119,762 |
| STAFFCOSTS | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wagesandsalaries | 846,568 | 903,089 |
| Socialsecurity | 83,234 | 92,342 |
| Pension | 50,193 | 62,323 |
| Redundancycosts | 0 | 12,895 |
| Otherstaffcosts | 13,142 | 91,183 |
| 993,137 | 1,161,833 | |
| 2023No. | 2022No. | |
| Theaveragemonthlynumberofemployees | ||
| duringtheyearwasasfollows: | ||
| PermanentStaff | 23 | 26 |
| 2023No. | 2022No. | |
| Employeeswhoearnedmorethan£60,000 | ||
| p.a.areasfollows: | ||
| £60,001-£70,000 | 1 | |
| £80,001-£90,000 | 1 | 1 |
| 2 | 1 |
| Leasehold Properties |
Fixtures and fittings |
Computer equipment |
Tangible Fixed Assets Totals |
IntangibleFixed AssetsTotals |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| COST | |||||
| At31August2022 | 165,886 | 21,599 | 125,722 | 313,207 | 64,023 |
| Additions | - | 1,098 | - | 1,098 | |
| At31August2023 | 165,886 | 22,697 | 125,722 | 314,305 | 64,023 |
| DEPRECIATIONIAMORTISATION | |||||
| At31August2022 | 65,675 | 16,054 | 77,722 | 159,451 | 51,722 |
| Chargeforyear | 16,588 | 2,304 | 33,720 | 52,612 | 8,699 |
| Disposals | .... | ||||
| At31August2023 | 82,263 | 18,358 | 111,442 | 212,063 | 60,421 |
| NETBOOKVALUE | |||||
| At31August2023 | 83,623 | 4,339 | 14,280 | 102,242 | 3,602 |
| At31August2022 | 100,211 | 5,545 | 48,002 | 153,758 | 12,251 |
| Listed | |
|---|---|
| investments | |
| MARKETVALUE | |
| At1September2022andat31stAugust2023 | 621 |
| NETBOOKVALUE | |
| At31August2023 | 621 |
| At31August2022 | 621 |
| At | 1September2022andat31August2023 | 1September2022andat31August2023 | 100 | ||
|---|---|---|---|---|---|
| Subsidiaries | Activities | %of | Netassetsat | Profitforyear | |
| capital | 31August | ended31 | |||
| held | 2023 | August2023 | |||
| £ | £ | ||||
| CityGatewayEnterprisesLimited | Operationof | 100% | |||
| Apprenticeship | |||||
| Training | |||||
| Agency | |||||
| 0 | DEBTORS:AMOUNTSFALLINGDUEWITHINONE YEAR |
||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Debtors | |||||
| AccruedIncome | 199,916 | 342,285 | |||
| Otherdebtors | 106,681 | 26,269 | |||
| IntercompanyDebtors | 6,745 | 6,890 | |||
| 313,342 | 375,445 |
| CREDITORS:AMOUNTSFALLINGDUEWITHIN | ONEYEAR | |
|---|---|---|
| 2023 | 2022 | |
| Tradecreditors | 91,090 | 83,462 |
| Othercreditors | 22,975 | 27,196 |
| Accruals | 52,532 | 18,934 |
| DeferredIncome | 53,333 | 258,796 |
| Otherloans(seenote11c) | 19,932 | 43,243 |
| 239,862 | 431,631 | |
| CREDITORS:AMOUNTSFALLINGDUEAFTERMORETHANONE | ||
| YEAR | ||
| 2023 | 2022 | |
| Accruals | 121,359 | 156,354 |
| DeferredIncome | 247,431 | 116,608 |
| Othercreditors | ||
| Loans | 23,277 | 37,206 |
| 392,067 | 310,168 |
| MATURITYOFLOANS | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Loansrepayableinoneyearor | 19,932 | 43,243 |
| less | ||
| Betweenoneandtwoyears | 10,183 | 13,932 |
| Betweentwoandfiveyears | 13,094 | 23,274 |
| Betweenfiveandtenyears | ||
| 43,209 | 80,449 |
| At1 September 2022 |
Incoming resources |
Resources Expended |
Transfers in/out |
At31 August 2023 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Unrestrictedfunds | |||||
| GeneralFunds | 153,310 | 1,170,229 | (1,161,766) | 161,773 | |
| Totalunrestrictedfunds | 153,310 | 1,170,229 | (1,161,766) | 161,773 | |
| Detailsofdesignatedfunds |
| At1 September 2022 |
Incoming resources |
Resources Expended |
At31 August2023 |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| CanaryWharfGroup | 9,180 | (9,180) | ||
| GoslingFoundation | 10,000 | 10,000 | ||
| GreaterLondonAuthority | - | 54,128 | (54,128) | |
| LondonCatalyst(SamaritanGrant) | 1,200 | (1,200) | ||
| TheBigGive | 10,285 | (10,285) | ||
| GoodThingsFoundation | 24,003 | (24,003) | ||
| TheLondonCommunity | - | 119,264 | (119,264) | |
| Foundation | ||||
| TheHobsonCharityLimited | 9,430 | (9,430) | ||
| JackPetcheyFoundation | 8,340 | (8,340) | ||
| Totalrestrictedfunds | - | 245,830 | (235,830) | 10,000 |
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| GeneralFunds | Funds | Funds | Funds | |
| 2023 | 2022 | |||
£ |
£ |
£ |
£ |
|
| TangibleFixedAssets | 102,242 | 102,242 | 153,758 | |
| Intangibleassets | 3,602 | 3,602 | 12,251 | |
| Investments | 721 | 721 | 721 | |
| CurrentAssets | 687,136 | 10,000 | 697,136 | 728,378 |
| Creditorsduewithinoneyear | (487,293) | (487,293) | (431,631) | |
| Creditorsdueaftermorethanoneyear | (144,636) | (144,636) | (310,168) | |
| NetAssets at31August20201 | 161,773 | 10,000 | 171,773 | 153,309 |
| At31stAugust2022thecharityhadcommitmentsundernon-cancellableoperatingleasesasfollows: | At31stAugust2022thecharityhadcommitmentsundernon-cancellableoperatingleasesasfollows: | At31stAugust2022thecharityhadcommitmentsundernon-cancellableoperatingleasesasfollows: |
|---|---|---|
| Landand | buildings | |
| 2023 | 2022 | |
| £ | £ | |
| Lessthan1year | 193,402 | 80,584 |
| Between2and5years | 773,698 | 773,608 |
| Morethan5years | 16,117 | 209,519 |
| Total | 983,217 | 1,063,711 |
| General | Restricted | 2022Total | |
|---|---|---|---|
| Funds | funds | Funds | |
| £ | £ | £ | |
| INCOME | |||
| Incomingresourcesfromgenerated | |||
| funds | |||
| Donationsandlegacies | 473,652 | 119,414 | 593,066 |
| IncomeformInvestments | 188 | 188 | |
| Incomefromcharitableactivities | 782,682 | 282,881 | 1,065,563 |
| TotalIncome | 1,256,522 | 402,295 | 1,658,817 |
| EXPENDITURE | |||
| CharitableActivities | 1,227,149 | 402,295 | 1,629,444 |
| TotalExpenditure | 1,227,149 | 402,295 | 1,629,444 |
| NETMOVEMENTINFUNDS | 29,373 | 29,373 | |
| Totalfundsbroughtforwardas previouslystated |
117,821 | 117,821 | |
| Totalfundscarriedforward | 147,194 | 147,194 |