REGISTERED COMPANY NUMBER: 03789945 (England and Wal¢$) REGISTERED CHARITY NUMBER: 1079865 Report of the Trustees And UDaudSted Fln4nclal Statements for the Year Ended 30 September 2024 for The Gateway IWArrlngton) LTD
The Gateway (Warrlngton) LTD Contents of the Financial Statements for the Year Ended 30 Septetnber 2024 Page Report of the Trustee8 IndepeDdtnt Examiner's Report Slatement of Flnanclal Aellvltl BalAn¢e Shetl 10 Notes to the Flnanclal Statements
Th¢ G3tew¥y Iwarrington) LTD (Reglstered number: 03789945) Report of the Trustees for tbe Year Ended 30 September 2024 The trustees who are also directors of the cliarity for the purposes of the Companies Aci 2006. present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Stalement of Recommended Pracli¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives sind alms The charity's objects are to promote any charitable purpose for the benefit of the community by advancement of education. the protection of health and the relief of poverty, sickness and distress. We are committed to ensuring expert, consistent and sustainable services are provided and promoting partnership working. networking and sharing of knowledge and skills. A community ¢afé. meeting and training rooms, a Conference centre and exhibition area are all available for groups or individuals to use. The trustees have considered the Charity Commission guidance on public benefit, including the guidance on public benefit and fee-charging, in shaping our objectives and planning our activities for the year. The Gateway Conference Centre and meeting rooms relies on grants, gifts-in-kind and income from renting Ille centre's facilities to voluntary and non-voluntary organisations. In the setting of the rate of hire and concessionary rates, the trustees give Careful consideration to the accessibility of the Conference facilities to organisations with low levels of funding. SlgnlflcAnt actlvltles The charity aims to assist the voluntsry sector by providing affordable meeting and conference facilitics at the Gateway. In particular, the charity aims to: stimulate and support the developm¢nt of voluntary and community activities, provide a 'first slop shop, for people needing advice, infomiation and support. provide resources such as meeting rooms and 8pace.4 for community activities, develop and promote partnership working between voluntary and community groups, statutory bodies and local people. In many ways, the Ga*way is evidence of the commitment of all of those involved to put our customers Ind the wider community at the centre of all we do. By providin8 Ihe facilities to access a range of vital services under one roof, the Galeway serves its clients in a way that suits them. It also helps the organisalions based wilhin it by cnabling them to forge more efficient working relationships. which result in an ever-improving, searnless service for the people of Warrington. The Gateway serves as a bridge between the local community, public sector and voluntary/¢ommunity organisations and provides assistance, advice and guidance to cater for community need. It provides a much needed space for people from different backgrounds to engage and interact. Volunt¢er8 All our trustees also give of their time freely. Page I
The Gateway (Warrington) LTD (Registered number: 0378994S) Report of the Trustees for the Year Ended 30 S¢pt¢mber 2024 ACHIEVEMENT AND PERFORMANCE CharltAblt aetivities The main charitable activity of the Gateway is to provide voluntary sector organisations with affordable meeting rooms and conference facilitles. By providing these facilities, the Gateway enables volunlary seclor organisations to deliver their services to the community. The work of ihe Centre continues to b¢ ¢ssential in these times of continuing hardship for many in our local Community. Again, the financial year l)as continued to be challenging with difficulties for the whole sector. The Centre and its services is about enabling and helping people. and this y¢ar was no exception. In partnership with the Citizens, Advice Warring¢on. the Gateway Continued this year to fund the rol¢ of Gateway Advi50r. One key way to assess our success over the financial year is to look at a summary of the numbers. We have provided signposting and information lo over 8,600 people and emergency gateway advice services to 1,120 people. These figures are an increase on those of the previous year. It is undoubtedly the case th2t 2s fi2nds continue to decrease, local residents will continue to need services and support. This year has been no less challenging due lo the continued cost of living crisis. Despite continued austerity, the Gateway continues to be a vibrant and vital resource for the local community. We continue to offer space for groups and organisations to meet, hold their own events and run their setvice5 at competitive rates. These organisations and groups make a major contribution to the town by providing services and Activities such as.. Art & Photographic Exhibitions He21ih & Wellbeing Events Health Coaching Dementia Events f.SOL Courses Strategic Confercnccs Regular groups continue lo mect in the Centre, such as.. Peer Talk- peer support group for people living with depression Bipolar UK- peer support group Warrington Speak Up - Self Advocacy Group Armed Forces Breakfast Club Headway - Brain injury association Soup & a chat and Womens Supper Club We coiilinue to provide affordable Town Centre accoinmodation, and our office space continues to be well occupied. In September we welcomed LifcTime into the main Lenlre and their volunteers have opened up a coffee bar in the café area. This is a great asset for the Gaieway and has broUt some much needed vibrancy back to that area. We have continued to receive compliments during the year, and take pride in the fact that we always offer a high quality service. We continue to ensure that our offer remains innovative and competitive compared ¢0 private sector organisalions providing a similar service. This year we have invested in new Audio Visual equipment for the Conference Centre Ththich has enabled us to be more flexible. We have established profiles on Facebook and Twitter which fomis part of our communication strategy. Thi5 year we have worked with a digital creative agency lo re-fresh and upgrade our website, witli the launch taking place in September. The team balanced our heritage wilh ¢realive modernisation. enabling more valuable stakeholder engagement. We coniinue ¢0 be a Real Living Wage Employer, and as such annually review all salaries. Policies and procedures continue to be reviewed regularly. Each year we work hard looking at the future sustainability of the Gateway, both in terms of maintaining our activities and looking at ways of reducing cosls. Looking forward, we need to ensure we continue lo raise our profile a5 a venue to attracl new users, whilst Continuing to offer a good setvice to our tenants and current users. Page 2
The Gateway (Warrington) LTD (Règistered number: 03789945) Report of the Trustees for th¢ Year Ended 30 September 2024 ACHIEVEMENT AND PERFORMANCE Fundraising actlvliles The charity Continues to seek funding frorn various sources to support the work of the rharity. FINANCIAL REVIEW Prlncipal funding sources The Centre Continues to be a well used contact point, providing a managed workspace for like minded charities, offering support, information, advice and signposting for local people. We provide high quality meeting rooms and conference facilities and this conlinues to be our most important source of independent income. Despite a very challenging cGonomic climate. where continuing pressures mean organisalions reduce training and Conference expenditure. w¢ continue to provide excellent services and value for money. As wilh many charities the major area of ¢oncern is a financial one. The continued austerity has had a signifi¢anl effe¢t on our finances. Though challenges continue. we have shown that we are innovative and flexible enough to rise lo them. Page 3
The GAteway (Warrington) LTD (Registered number: 03789945) Report of the Trustees for the Year Ended 30 September 2024 FINANCIAL REVIEW Reserves policy In accordance with guidance given by the Charities commission for England and the legal obligations of th¢ Gateway Trustees, a formal policy on reserves has been agreed. The Trustees set a poliey which requires reserves to be maintained at a level that ensures that the organisation's core activity could continue during a period of unforeseen difficulty. Furthermore, a proportion of these reserves are r¢quired to be maintained in a readily realisable form. Our Rlsks The Gateway has a lease with Warringlon Housing Association (WHA) which essentially provides rent free usage of space in return for the provision of agreed services. The current lease runs until 30 September 2028. Warrington Housing Association appointed the Gateway to be their agents to provide centre management. promote the Gateway and its tenants in Warringtoi) and to use the property for meeting. exhibition. conference and similar uses to support similar objectives. For this WHA will pay a facilitie5 management fee lo the Gateway. This contribution is reviewed annually in April. The Gateway receives income in the form of room hire charges. Due lo the nature of the Gateway's funding streams and income gcncration there is always a risk of expenditure being in excess of budget because of uncertainty over room hire income and other untoreseen circum5tan¢es. This is monitored by the Trustees on a bi.monthly basis so that. where possible, steps can be taken to mitigate the impact of this. Whether or not this will impact on reserves will depend on the foreeast results for the year. It may be Ihe Trustees agree to Use reserves, but only if assured that income will be generated within a 3-month period to replenish the required level of reserves. The Trustees are confident that the Charity wll remain viable for the foreseeable future. Monltorlng and Revlewlng Reserves The Trustees re¢oBnis¢ that th¢ risks facing the Gateway arc not constant. The view of risk will depend on how vulncrable income slreams are and how healthy the financial forecasis are. Also, as an etnployer fiiiancial risk will change over time. The risks and iherefore the level of reserves required will lluctuate. Accordingly. the Trustees hav¢ committed to review the reserves policy on an annual basis. This review will be carried out at the start of a new financial year al the same lime as the annual budget is approved. Th¢ required level of reserves In 2024125 The Gateway currently has £141,177 cash al bank and in hand as reserves, and £51,292 in Investments. The Truslees have concluded that the required level of rcserves is between £124,858 and £221,539. The calculation of the required level of reserves is an integral part of the organisation's planning, budget and forecast cycle. It considers risks associated with each stream of income and expenditure being different from that budgeted. Some of these risks have been identified above. Having considered all the facts and information available at this time, the Trustees have concluded that the Charity should hold a level of resetves sufficient to fund the or8anisation in a period of unforeseen difficulties for a minimum period of six months and aspire to a maximum period of 12 months. This is a suitable length of time for the Trustee Board to consider options and to find a solution to any difficultie5. If this is the case, consultation should ¢ommence with all staff in the likelihood of redundancies. If during this six-to-twelve-month period. Ihe Trustees cannot find a solulion lo the financial problems then the Trustees may d¢¢id¢ that the continuation of the organisation is not viable. In this circumstance the reserves would also need to be sufficient to bring the Gateway to a close. The Trustees anticipate that it would take Ilie Gateway a fiher 3 months to trade down and relinquish all responsibility. It would be expected that staff would have been issued redundancy noti¢es before this period to ensure solvency. Page 4
The Gatew4y (Warrington) LTD {Registered number: 03789945) Report of the Trustees for the Year Ended 30 September 2024 FINANCIAL REVIEW In the current financial period, the Trustees do not consider cessation to be a risk. due to the ongoing agreement with Warrington Housing Association and th¢ organisations capacity to generate income. To cover a complete close down of the organisation within a 26 to 52 week period, the Board would require 6-12 months operating costs at £100,923 to £197,604 (outlined below) In addition, £23.935.00 is required for Statutory Redundancy payments 6 months oper8tlDg costs Staff salaries and on costs & payroll 64,322.00 Setvice Charge 12.733.00 Security 8.760.00 Office Costs (eg franking, copying) 5.532.00 Telephones 252.00 Cleaning 3,786.00 LirenG¢s 783.00 IT Expenses 513.00 Accountancy Fees (12 months) 1,980.00 Insurance {12 rnonths) 2,262.00 Total 6 months 100,923 Total 12 months 197,604 steps to malnt8ln reserves The Trustees will endeavour to maintain the current level of reserves by careful financial management and as such will strive to keep the current Icvel of reserves above the actual required reserve5. Date reviewed.. January 2025 Next review due: January 2026 FUTURE PLANS We are however confident that we can provide a well-run cost effective service that is valuable to the residents of Warrington. In the coming year, our focus will remain on the successful hiring of meeting rooms and oonference facilities, encouraging voluntary and non-voluntary organisaiiorts to use the facilities by providing a Gomprehensive service to fulfil their need5. Our aim is to ensure that the Centre remains a sustainable and thriving community hub. To this end, we will continue to invest in the building and equipment. With strong financial management and good local support we are as confident as we can be of mitigating financial risks. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument The registered name of the charity is The Gateway (Warringion) Ltd. The Charity is known as The Gateway. The governing documents of the Charity are ils Memorandum and Articles of Association dated 15 June 1999 and lasl amended on 25 April 2005. The Charity is a company limited by guarantee, the liability of the members of the Board of Trustees being limited lo £1 O. Page 5
The GatewAy (Warrington) LTD (Registered number: 03789945) Report of the Trustees for the YeAr Ended 30 September 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recrultment and appolntment of llew trustees At the annual general meeling. one-third of the trustees shall retire from oifice by rolation. being the longest in office since appointment or reappointment and offer themselves for re-election. The method of appointment of trustees is as follows.. seeking nominations from current trustee5 and from interested organisations and individuals identifies potential trustees. The proposal, giving relevant information, to appoint or reappoint a trustee shall be disclosed in tlie documentation for the annual general meeting, and the appoinlment or reappointment Shall bc ratified at the annual general meeting. Organlsatlonll $trllcturt The Board of Truste¢s meet at regular intervals, reviewing the performance of the charity to date and reviewing the strategic and financial plans of the Charity. The Trustees are responsible for the major decisions of the Charity, with day-to-day management dclcgated to the Centre Manager. Induction and trAlnlng of new trustees New trustees are provided with an induclion training pack, and the continuing development of all trustees is addressed through regular updates from the Charity Commission and refresher presentations al board meetings. Wlder network The Gateway provides mceling rooms and cot)fer¢nce facilities to the voluntary sector, In fulfillin8 this role, the Gateway is involved and in contact with voluntary sector organisation5 on a daily basis. Relgt¢d partles The trustees of the Gateway are involved, as a trustee, senior employee or active volunteers, in many of the groups and orgartisaiions who operate in the Gateway, and who fuiid the work of the Gateway. REFERENCE AND ADMINISTIL4TIVE DETAILS Reg15tered Company number 03789945 (England and Wales) Reglstered Charlty number 1079865 Registered office 85-10 I Sankey Slreet Warrington WAI ISR Trustee8 S P Cullen Chair Mrs J A Horton Trustee (resigned 31.7.24) Mrs K Horne Trustee D A Cummins Chief Executive T M Jennings (appointed 6.11.23) Con)pany Ster¢tAry Ms S L Bennett Page 6
The GAteway (Warrington) LTD (Registered numb¢r: 03789945) Report of the Trustees for the Year Ended 30 September 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examfiner Voisey & Co LLP Chartered Accountants 8 Winmarleigh Street Warrington Cheshire WAI IJW This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 6 February 2025 and signed on ils behalf by: S P Cullen - Trustee Page 7
Independent Ex*miner'5 Report to the Trustees of The Gateway (Warrington) LTD (Registered number: 03789945) Independent examiner's report to the trustees of The Gateway (Warrington) LTD ('the CoTnpany') report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024. Responslbllltlts and basis of report As the charity's truste¢s of the Company {and also its directors for the purposes of ¢ompany 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 Company are not required to be audited 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 Direclions given by the Charity Commission under Section 14515) Ibl of (he 201 l Act. Independent examlner's stAtement Since your charity's gross income exceeded £250,000 your examincr must be a member of a listed body. l Can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered A¢¢ountsnts in England and Wales, which is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my attention in conneclion wilh the examination giving me cause lo believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those records; or the accounts do not comply wilh the accounting requirements of Seclion 396 of the 2006 Act other than any requirement that th¢ accounts give a true and fair view which is not a matter considered as part of an independent examination.. or the accounls have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounling and reporting by charities (applicable to charities preparing their a¢¢ounts in accordancc with the Financial Reporting Standwd appli¢able in the UK and Republic of Ireland (FRS 102)). 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. Janine Boyo Voisey & Co LLP Chartered Accountan15 8 Winmarl¢igh Street Warringlon Cheshire WAI IJW 6 February 2025 Page 8
The G4teway (Warrington) LTD Statement of FlnaneiAI Actlvities (Incorporating an Income and Expenditure Accounl) for the Ye4r Ended 30 September 2024 30.9.24 Total funds 30.9.23 Total nds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 11.628 11,628 11.628 Charitable Actlvities Conference facilities 8.730 Oiher trading activities Investment income 261.315 4,910 261,315 4.910 228,498 1,268 Tot*1 277,853 277,853 250.124 EXPENDITURE ON Charltablt Actlvltle$ Conference facilities 97.410 97,410 82.778 Other 211.506 211,506 190,745 Totydl 308.916 308,916 273,523 Net gains on investmenls 5,573 5,573 1,894 NET INCOMEI{EXPENDITURE) 125,490) (25,490) 121,505) RECONCILIATION OF FUNDS Total fvnds brought forward 280.086 280,086 301,591 TOTAL FUNDS CARRIED FORWARD 254,596 254,596 280,086 The notes fomi part of these financial slaternenls Page 9
The GatewAy (Warrington) LTD (Regi5ter¢d nymb¢r: 03789945) B8lance Sheet 30 September 2024 30.9.24 Total funds 30.9.23 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 73,420 73,420 84,183 CURRENT ASSETS Debtor5 Investments C&sh at bank and in hand 55,240 51,292 119,955 55.240 51.292 141,177 48.041 45,719 J 77,320 21.222 226.487 21,222 247,709 271,080 CREDITOILS Amounts falling due within one year 10 (45,311) (21,222) {66.533) (75,177) NET CURRENT ASSETS 181.176 181,176 195,903 TOTAL ASSETS LESS CURRENT LIABILITIES 254,596 254.596 280,086 NET ASSETS 254.596 254,596 280,086 FUNDS Unrestricted funds 254,596 280,086 TOTAL FUNDS 254,596 280,086 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024, The members have not required the company to obtain an audit of its financial statements for the year ended 30 Seplember 2024 in a¢¢ordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for la) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordanre with the requirements of Sections 394 and 395 and wl)ich otli¢rwise comply with the requirements of the Companies Act 2006 relatin8 to financial statements. so far as applicable to the ¢harilable company. Ibl These financial statements have been prepared in accordance with the provisions applicable to charitable Gompanies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 6 February 2025 and were signed on its behalf by: S P Cullen - Trustee The notes form part of these financial statcments Page 10
The G4t¢way IWaTrington) LTD Notes to the Financial Statement8 for the Year Ended 30 September 2024 ACCOUNTING POLICIES Basls of prep#rlng the financial stAtem¢n¢s The financial statements of the charitable company, which is a publi¢ 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 ac¢ounts in accordance with the Finart¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019),, Financial R¢porting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. 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 thnds, it is probable that the income will be received and the amount Can be measured reliably. Donations. are recognised when the Charity has been notified in wriling of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entiiled lo the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those Conditions is wholly within the control of the Gharity and it is probable tha¢ those conditions will be fjjlfilled in the reporting period. Income from government and other grants, whether 'capital' grants or 'revenuc' grantS,i5 recognised when the charity has entitlement to th¢ funds, any performance conditions attached to the yriLnls have been meL it is probable that the income will be received and the amount can be measured reliably and is not defcrrcd. For legacics. entitlement is tsken as the earlier of the dale on which either.. the charity is aware ihat probate has been granted, the estate has been finalised and notifi¢ation has been made by the exe¢utorls) to the Trust that a distribution will be made, or when a distribution is received from the ¢5¢ale. Receipt of a legacy. in whole or in part. is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the chariry is aware of the granting of probate. and the criteria for income recognition have not been met, then the Icgacy is a treatrd as a contingent asset and disclosed if material. Interest on fvnds held on deposit is included when receivable and the amount can be measured reliably by the charity. this is normally upon notification of the interest paid or payable by the Bank. Exp¢Ddlture Liabilities ar¢ recognis¢d as expenditUTe as soon as there is a legal or constructive obligation committin8 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 a8gregale all cost related to the catcgory. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure on charitable activities includes the costs incurred by the charity to enable it to fulfil its core operations. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is rharged as a cost against the activity for whi¢h the expenditure was incurred, Allocatlon and xpportlonment of eosts Costs incurred have been allocated directly to the funds involved where applicable. The remaining costs have been allocated to the charitable activity of the rharity. Tangible flxed assets Depreciation 15 provided at the following annual rates in order to write off each asset over its estimated usefvl life. Page 11 continued...
The GAteway (Warrington) LTD Notes to the Financial Statement5- Colltlnued for the Year Ended 30 September 2024 ACCOUNTING POLICIES- continued Tangible flxed assets Improvements to property Fixtures and fitting5 Computer equipment over period of the lease 20 /• on cost 330/0 on c051 TAxation The charity is exempt from corporation tax on its charitable activities. Fund aecountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds ean only be used for particular restricted purpose5 Within the objects of the charity. Restrictions aris¢ when specified by the donor or when funds are rais¢d for particular restricted purposes. Hire purchase 4nd l¢aslng ¢ommitmen15 Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis ov¢r th¢ period of the lease. Pen$lon costs and other post-retirement beneflts The charitable company operates a defined coniribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Sialement of Financial Activities in the period to which they relate. Finncll Instruments Thc Company has elected to apply the provisions of Section I I 'Basic Financial Instrumcnls, and Section 12 'Other FinanciAI Instrumenls15sues' ofFRS 102 to all of its financial instruments. Financial instruments are recognised in the company's slalem¢nt of financial p051tion when the company becoines party to thc contractual provisions of the instrumenl. Financial asseL8 and liabilities are offset, wilh thc net amounts presented in the financial statement5. when there is a legally enforceable right to set off the recognised amounts and there is an intention lo .4ettle on a net basis or to realise the net asset and settle the liability simuliancously. BASIC finanel&l Assets Basic financial asseis. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently Carried at amortised costs using the effective interest method unless the arrangement constitutes a finan¢ing transaction, where the transaction is measiired at the present value of the future receipts discounted at a mark¢t rate of interest. Financial assets classified as receivable within one year are not amorlised. Other flnancial assets Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint venture5, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried al fair value and ihe changes in fair value are recognis¢d in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment. Impalrment of finAncIAI assets Finart¢ial assets, other than those held at fair value through profil or loss. are a&8essed for indicators of impairn]ent at each reporting end dale. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been aff¢¢led. If an asset is impaired. the impairment Ios5 15 the differeiice between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recogni5ed in profit or loss. Page 12 continued...
The Gateway {Warrington) LTD Notes lo the Financial Statements- contijued for the Year Ended 30 September 2024 ACCOUNTING POLICIES- Contlnued Financial instruments Dereeognltion of fillanclal assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled. or when tlie company transfers the financial asset and substantially all the risks and rewards of owncrship to another entiry. or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelaled third party. Employee beneflts The costs of the short-tenn employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the costs of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are rcceived. Termination benefits are rerognised immediately as an expense when the company is demonstrably committ¢d to tcrminate the employment of an employee or to provide termination benefits. OTHER TIL4DING AcfiviTIES 30.9.24 30.9.23 Room hire Contract income Cleaning Security Royal Mail Sundry income 136,676 79,961 29,112 ,020 10,649 3,897 111,184 74.137 27,092 480 9.239 6.366 261,315 228,498 INVESTMENT INCOME 30.9.24 30.9.23 Deposit account interest 4,910 1,268 NET INCOMEI{EXPENDITURE) Net incomel(expenditure) is stated after chargingllcrediting): 30.9.24 30.9.23 Depreciation - owned assels Oiher operating leases 21,543 11.628 18,845 11.628 Page 13 continued...
The Gateway (Warrlngtfjll) LTD Notes to the Flnancial Statements - continued for Ihe Year Ended 30 September 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no truslees, remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. Trustees, expenses There were no trustees, expenses paid for the year endcd 30 September 2024 nor for thc year ended 30 September 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 30.9.24 30.9.23 Office staff No employees received emoluments in excess of £60,000. TANGIBLE FIXED ASSETS Improvements to property Fixtures and fittings Computer equipment Totals COST At l October 2023 Additions 319,253 60,182 432 18,424 10,348 397,859 10,780 AI 30 Scptcmbcr 2024 319,253 60,614 28,772 408,639 DEPRECIATION Ai l October 2023 Charge for year 251,864 11,344 46.924 6,626 14.888 3.573 313.676 21,543 At 30 September 2024 263,208 53,550 18,461 335,219 NET BOOK VALUE At 30 September 2024 56,045 7,064 10,311 73,420 At 30 September 2023 67,389 13,258 3.536 84.183 DEBTORS: AMOUNTS FALLING DUE WITHIN OIYE YEAR 30.9.24 30.9.23 Trade debtors Prepayments 46.305 8,935 40.425 7,616 55,240 48.041 Page 14 continued...
The Gateway (Warrlngton) LTD Notes to the Financial Statements- ¢oD¢IDued for the YeAr Ended 30 September 2024 CURRENT ASSET INVESTMENTS 30.9.24 30.9.23 Other 51.292 45,719 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.24 30.9.23 Trade ¢redi¢ors Other creditors TCWP monies Accruals and deferred in¢om¢ 13,550 7.754 21.222 24,007 l3,477 7,732 21,222 32,746 66.533 75,177 The Charity holds a5 CUStodian5 £21,222 on behalf of Town Centre Warrington Parthership, being the original copital sum of £31.053 and interest eamcd to date. The charity has no right to the monies or interest earn¢d and they have been placed in a separate bank ac¢ount and disclosed as a reslricted fund in the financial statements. Deferred incomc (includcd within Accruals and Deferred Income) compris¢s sales invoices raised in advance of the year to which it rclates: 30.09.24 Balance a5 at 1st October 2023 30,391 Amount released to income earned from charitable activities Amount deferred in year (30.391) 21,652 Balance as at 30th September 2024 21,562 ii. MOVEMENT IN FUNDS Net movement in funds At 1.10.23 At 30.9.24 Unrestricted funds General fund Designated fund - improvements to disabled access 268,086 (23,490) 244,596 12,000 (2,000) 10,000 280,086 (25,490) 254,596 TOTAL FUNDS 280,086 (25.490) 254.596 Page 15 ontinued.
The Gateway (Warrington) LTD Notes to the Financial Statements - contlnued for tht YeAr Ended 30 September 2024 MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestritted funds General fund Designated fund - improvements to disabled access 277,853 (306.916) 5,573 (23,490) (2,000) (2.000) 277,853 (308,916) 5,573 (25,490) TOTAL FUNDS 277,853 (308,916) 5,573 (25,490) ComparAtlves for movement In fvnds Nct movement in funds At 1.10.22 Al 30.9.23 Unrestrlcted funds General fund Designated fund - improvements to disabled access 287,591 {19.5051 268.086 14,000 {2,000) 12,000 301,591 {21,505) 280.086 TOTAL FUNDS 301,591 (21,505) 280,086 Comparative net movement in funds, included in the above are as follows.. Iiicoming resources Resources expended Gains and losses Movement in funds Unrestrlcted funds General fund Designated fund - improvements to disabled access 241.394 (262.793) 1,894 (19,505) (2,000) (2,000) 241,394 (264,793) 1,894 (21,505) Restrlcted funds Cost of Living grant Cancer Allian¢e Funding 5,600 3,130 (5,600) {3,130) 8,730 {8,730) TOTAL FUNDS 250,124 1273,523) 1,894 (21,505) Page 16 ¢ontinued.-.
The Gateway (Warrlngton) LTD Notes to the Financial Statements- eontlnued for the Year Ended 30 September 2024 12. EMPLOYEE BENEFIT OBLIGATIONS The charity operates a defined contribution scheme. The assets of which are held separately from the assets of the ¢harity in an independently administered fund. The pension cost charge represents Contributions payable by the charity to the fund and amounted to £2.424 (2023.. £2,412). 13. RELA TED PARTY DISCLOSURES There were no related paty transactions for the year ended 30 Sep¢ember 2024. 14. DESIGNATED FUNDS Dlsabltd Aeeess fijnd This fund relates to a grant received lo improve the accessibility of the building for disabled users. The granl is released evenly over the lease period in line with depreciaiion policy. Is. REMUNERATION OF KEY MANAGEMENT PERSONNEL The charity considers its key management personnel to comprise its truslecs and manager. The total employment benefits including employer pension Contributions of the key management personnel were £47.307 (2023 £45.089). No employee had employee benefits in excess of £60,000. 16. RESTRICTED FUNDS Cost of Llvln¥ Grant Provide charity facilities to enable emergency advice to be facilitated by other organisations in respcct of the cost of living Grisi5. Cancer AIIIAne¢ Fundlng Provide charity facilitics to assist in the early cancer diagnosis provided by other other organisations. Page 17