REGISTERED COMPANY NUMBER: 04859696 (England and Wales) REGISTERED CHARITY NUMBER: 1099828
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
GATEWAY FREEDOM CHURCH, HARLOW
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
GATEWAY FREEDOM CHURCH, HARLOW
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022
| Page | |
|---|---|
| Pastors' Report | 1 to 3 |
| Report of the Trustees | 4 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
GATEWAY FREEDOM CHURCH, HARLOW
PASTORS' REPORT
for the Year Ended 31 March 2022
Although it may feel like the Covid-19 Pandemic was a long time ago, in April 2021, we were still very restricted in terms of what we were allowed to do, how many people we were allowed to meet indoors, and as a result we were still meeting online, live streaming our Sunday morning services and having weekly prayer and communion meetings on Zoom.
We spent so many of our Sunday mornings sitting in our living rooms, staring at this screen as we waited for the online meeting to start.
Church Life
Once a relaxing of the restrictions was announced and churches were allowed to reopen, we resumed face to face gatherings on 20th June 2021 at the Monk's Barn in the Study Centre. We met every other Sunday in the Monk's Barn from June until the end of August 2021.
From the Monk's Barn, we moved to weekly face to face gatherings at the St Thomas More hall on Hodings Road. With the end of all social distancing restrictions, our meetings were more relaxed and ministry during these gatherings happened more freely.
Life Groups that have been the main port of connection for most of the congregation throughout the pandemic, have also began to transition from online to face to face meetings.
We met at the St Thomas More hall between October 2021 and January 2022.
Page 1
GATEWAY FREEDOM CHURCH, HARLOW
PASTORS' REPORT for the Year Ended 31 March 2022
Kind Christmas
In December 2021, we hosted our first Kind Christmas - an outward looking event that aimed at preparing bespoke baskets to pre-selected families in order to bless them with both essential and non-essential items. These families were prayerfully chosen by different Life Groups as a means to show God's love for them during the holiday season.
Building Update
Despite hiring these different venues to host our Sunday services, we have always been on the look out to purchase our own place since the sale of the Gateway Centre in December 2020.
In the end of 2021, we came across the news that the URC Trinity Church congregation in Harlow was closing down and that their building at Harberts Road would be put for sale. As a means of getting the foot in the door, we decided to begin hiring the church in February 2022 as we looked to put a proposal together and make an offer to purchase the building.
From the very beginning we have developed a very good relationship with Buzzee Beez, the pre-school that has been running in the URC building for many years now and part of our plans to purchase the building was to incorporate the pre-school, giving them an exclusive area of the building to operate from and partner with them with the aim to bless the community around the church.
Although URC have decided to not go ahead with the sale, we are continuing to hire the building not only for our Sunday services, but also for other church activities like Life Group and prayer meetings, Gateway Creatives, Encounters, Café Church, outreach (Kind Mother's Day and The Queen's Platinum Jubilee) and other events.
Page 2
GATEWAY FREEDOM CHURCH, HARLOW
PASTORS' REPORT
for the Year Ended 31 March 2022
Baptisms
In July, we celebrated the baptism of 4 church members. It was great to see new life added to the church as well as some young people aged 12 to 20 making a public decision to follow Jesus through baptism.
Future & Vision
In the end of 2021, we understood that God was giving us 4 key areas to invest in as a church and we will carry on focussing on them in the future:
-
MEANINGFUL RELATIONSHIPS - We believe that church is where these relationships develop and grow so we will continue to encourage and invest in them via Life Groups and Running Partners Relationships.
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SERVICE & GIVING - Generosity is an expression of God's heart and we will cultivate a culture of giving, service and commitment.
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FAMILY - As a multi-generational family, we will continue to make room for people of all ages and value their contribution to the life of the church.
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OUTREACH - We are all called to make disciples and we will continue to make use of the tools we have been given to preach the Gospel and communicate God's love to those around us.
Love and blessings,
Mauricio & Sibele.
Kindness Project
The Kindness Project was birthed out of the desire to promote the love of God to those around us through acts of kindness in our community. We started in March 2021, had an official group set up in April 2021 where we started to work on our 1st basket as a group. To date we have done 14 baskets of love (between April 2021 and November 2021).
In December 2021, we did our 1st big project where we held a 'Kind Christmas' where we started with a 25 day prayer calendar praying for everyone nominated by the Life Group members. This culminated in a church service where we made all the baskets after worship and prayer for the nominees. We blessed 24 families on that day.
March 2022, we did our biggest project to date, 'KP Mother's Day' we made baskets for all the mothers and grandmothers from the pre-school at URC. We did 50 baskets of love on that day.
We helped an individual in June 2022 with money for his rent, July 2022 we also gave a family food vouchers. In July 2022 and September 2022 we made 2 books of encouragement with Bible verses for 2 of our GFC members.
Page 3
GATEWAY FREEDOM CHURCH, HARLOW
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
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 March 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
ACHIEVEMENT AND PERFORMANCE Objectives and Activities
The charity's objects as defined by the Memorandum of Association are:
a) To advance the Christian faith in accordance with the Statement of Beliefs (in the Memo & Arts) in Harlow and the surrounding neighbourhood and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit and other such purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Charity;
b) To provide and maintain facilities (whether in a purpose-built Community Centre or otherwise) for the benefit of the community of Harlow and the surrounding neighbourhood which facilities may without limitation include the provision of child care services and meetings, lectures and classes and other forms of education, recreation and leisure-time occupation without distinction of race, sex, political, religious or other opinion and with the object of improving the conditions of life for the said inhabitants as the Trustees may from time to time in their discretion determine.
When planning our activities for the year and the services on offer to the local community, the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to encourage ordinary people to grow in their faith and live it out in every area of their lives as part of the Gateway church family. We also try to encourage people within the local community to find faith through establishing friendships and attending our public meetings at the Gateway Centre and also life groups in people's homes. Many within our church community have found spiritual, emotional and physical healing and we are keen that others in the local community receive the same benefits. Our meetings are open to the public and are publicised on our website and social media.
Harlow Church Joint Projects
Members of the Gateway family continue to work as volunteers in a number of joint church projects supporting different groups within the community. These include:
Harlow FoodBank & Bounty Club - collects food from the general public and catering suppliers and distributes it to people and families in crisis directly and through frontline community agencies.
Great Open Door - a group of people drawn from local churches who serve the schools in Harlow and the surrounding area by providing Christian assemblies and teaching Religious Education.
Page 4
GATEWAY FREEDOM CHURCH, HARLOW
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
FINANCIAL REVIEW
Financial review
Gateway's income is made up primarily from tithes and offerings from church families. Tithes and offerings including funds reclaimed under the Gift Aid system fell this year by about 19% from £72,928 in 2020/21 to £59,189 in 2021/22.
Many thanks to everyone who has given generously throughout the year and to those who have organised and helped with fundraising activities. The role of volunteers within the church is extremely valuable to the organisation and is gratefully acknowledged but not financially quantified in this report.
When our previous pastor Peter retired no pension provision had been made for him. As the church was short of cash we were not able to buy him a pension, so the Trustees, instead agreed to pay him a pension on a monthly basis.
After the sale of the Gateway Centre, the Trustees had the cash available and a lump sum payment was agreed with Peter as a final settlement of that pension commitment.
The current pastors are making their own provisions for pension and so this commitment will not arise in future.
The overall Net Expenditure for the year is £66,570 (Net Income of £322,505 2020/21)
| Net Income analysed by Activity: Net Income From Sale of Gateway Centre Net Church Income after Expenditure and Overheads Payments to Pensioners Net Expenditure / Income |
2021/22 £ - (5,405) (61,165) (66,570) |
2020/21 £ 329,057 392 (6,944) 322,505 |
|---|---|---|
Investment policy
Under the Memorandum and Articles of Association the charity has the power to make investments at the discretion of the trustees. The current policy of the charity is to ensure investments are low risk and funds are currently held with a number of different banks ensuring that no more than £85,000 is on deposit with any single organisation. Alternative opportunities are regularly reviewed.
Conflicts of Interest Policy
In the course of meetings or activities, trustees disclose any interests in a transaction or decision where there may be a conflict between the church's best interests and the trustee's (or other connected person's) best interests or a conflict between the best interests of the two organisations that the trustee is involved with. After disclosure, the trustee may be asked to leave the room during the discussion and may not be able to take part in the decision (at the discretion of the remaining trustees). Any such disclosures and the subsequent actions are noted in the minutes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Gateway is a charitable company limited by guarantee, incorporated on 7th August 2003. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
The company and charity name was changed from Gateway Christian Fellowship, Harlow to Gateway Freedom Church, Harlow on 6th May 2010. The registered company and charity numbers remain unchanged.
Recruitment and appointment of Trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Charity. The number of trustees is not less than three but is not subject to any maximum. Trustees are eligible to serve for a three-year period and may then be re-elected for further three-year periods.
Trustees must be at least sixteen years of age and are required to subscribe to the Statement of Beliefs set out in the Articles, as Gateway is a Christian congregation. In the event of particular skills being lost due to retirement or resignation, individuals are approached to offer themselves for election to the board of trustees.
The chair of trustees, is appointed by consensus of the other trustees. As she steps down we give thanks for the three years of faithful service, wisdom and leadership that Ann Tierney has given in leading the trustees in her role as chair through a number of difficult years.
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GATEWAY FREEDOM CHURCH, HARLOW
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
Gateway has seven trustees as at 31st March 2022 who are responsible for the management and administration of the charity. The board meets at least six times a year and at least one of the Pastors also attend.
Day-to-day responsibility for the provision of services is delegated to the Pastors and leadership Team.
Health and Safety, Safeguarding and Finance issues are reported on and considered by the trustees on a regular basis. Minutes of trustee meetings are circulated to the church's leadership team and advisory board. The minutes of the leadership team meetings are also circulated in a similar way.
Trustee Induction and Training
New trustees are given an orientation pack, which briefs them on a trustee's legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making process, and the most recent audited accounts and Annual Report.
Related parties
Gateway links nationally and internationally with Harvest Alliance, a family network of churches and ministries in pursuit of sustained revival in the church and the outpouring Kingdom of transformation in the nations.
More locally, Gateway is also part of Heart 4 Harlow, a group of evangelical church congregations in Harlow who are seeking to work together in local mission. Gateway is also a member of the Evangelical Alliance.
Risk management
Following the closure of the After School Club there was a reduction in the number of employees of Gateway After School Club. Also, following the sale of the building there has been a considerable reduction in the Health & Safety implications of owning and managing a premises for the Church. Therefore the decision was taken to dispense with the service provided by Ellis Whittam at the time. However there still remains some risk around these issues and to mitigate that risk, we have entered into an agreement with Trust Advice to provide advice on these matters on a call off basis as and when required.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04859696 (England and Wales)
Registered Charity number
1099828
Registered office
3 Home Close Harlow Essex CM20 3PB
Trustees
C D De Silva Miss M H Sears (resigned 19.8.22) Mrs A E Tierney Chair (resigned 24.11.21) A P Walker T Stanesby J East (appointed 24.11.21) Mrs H East (appointed 24.11.21) Mrs B Fraser (appointed 24.11.21)
Company Secretary
Mrs M Spencer
Page 6
GATEWAY FREEDOM CHURCH, HARLOW
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
Bankers
Barclays Bank plc PO Box 12 Harlow Essex CM18 7NR
Investment Managers
Flagstone Investment Managers Clareville House 26-27 Oxendon St London SW1Y 4EL
Employment Law, HR Support & Health & Safety Advice
Trust Advice (formerly AFVS) Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
Senior Pastors
Mr Mauricio Colussi Mrs Sibele Colussi
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................................. A P Walker - Trustee
Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GATEWAY FREEDOM CHURCH, HARLOW
Independent examiner's report to the trustees of Gateway Freedom Church, Harlow ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors 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 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 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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 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)).
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.
Maurice Brindley BSc FCA Institute of Chartered Accountants in England and Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH Date: .............................................
Page 8
GATEWAY FREEDOM CHURCH, HARLOW
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 March 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 58,181 Charitable activities 4 Advancing the Christian Faith - Investment income 3 757 Other income - Total 58,938 EXPENDITURE ON Charitable activities 5 Advancing the Christian Faith 125,311 NET INCOME/(EXPENDITURE) (66,373) RECONCILIATION OF FUNDS Total funds brought forward 773,722 TOTAL FUNDS CARRIED FORWARD 707,349 |
Restricted funds £ 1,048 - - - 1,048 1,245 (197) 871 674 |
31.3.22 31.3.21 Total Total funds funds £ £ 59,229 84,031 - 307 757 223 - 363,366 59,986 447,927 126,556 125,422 (66,570) 322,505 774,593 452,088 708,023 774,593 |
31.3.22 31.3.21 Total Total funds funds £ £ 59,229 84,031 - 307 757 223 - 363,366 59,986 447,927 126,556 125,422 (66,570) 322,505 774,593 452,088 708,023 774,593 |
|---|---|---|---|
| 447,927 125,422 |
|||
| 322,505 452,088 |
|||
| 774,593 |
The notes form part of these financial statements
Page 9
GATEWAY FREEDOM CHURCH, HARLOW (REGISTERED NUMBER: 04859696)
BALANCE SHEET
31 March 2022
| Unrestricted funds Notes £ IXED ASSETS angible assets 10 1,360 URRENT ASSETS ebtors 11 780 ash at bank and in hand 706,409 707,189 REDITORS mounts falling due within one year 12 (1,200) ET CURRENT ASSETS 705,989 OTAL ASSETS LESS CURRENT LIABILITIES 707,349 ET ASSETS 707,349 UNDS 13 nrestricted funds estricted funds OTAL FUNDS |
Restricted funds £ - - 674 674 - 674 674 674 |
31.3.22 Total funds £ 1,360 780 707,083 707,863 (1,200) 706,663 708,023 708,023 707,349 674 708,023 |
31.3.21 Total funds £ 1,814 1,305 773,105 774,410 (1,631) 772,779 774,593 774,593 773,722 871 774,593 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) 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 accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A P Walker - Trustee
The notes form part of these financial statements
Page 10
GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and assessment of going concern
The financial statements of the charitable company, which is a public 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 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Critical accounting judgements and key sources of estimation uncertainty
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.
Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property - Land | - not provided |
|---|---|
| Freehold property - Building | - over 25 years straight line |
| Fixtures and fittings | - 25% on reducing balance |
| Motor vehicles | - 25% on reducing balance |
Only items over £250 are capitalised and depreciated by the charity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
Fund accounting
Unrestricted funds are funds which are not designated or restricted and are available for the use at the discretion of the trustees in furtherance of the general objectivity of the charity.
continued...
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GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds are to be used for specific purposes as required by the donor. Expenditure which meets these criteria is allocated to the relevant fund. Income derived from these funds is retained within the funds concerned.
Designated funds are unrestricted funds which the trustees have designated to the used for a specific purpose. Where these funds yield investment income, this is available for general purposes.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Company status
The charity is a company limited by guarantee. The members of the company are the trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2. DONATIONS AND LEGACIES
3.
| DONATIONS AND LEGACIES | |||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Building donations | - | 842 | |
| General offering | 49,760 | 60,309 | |
| Income tax recovery | 8,975 | 11,358 | |
| Special offerings | 454 | 421 | |
| Grants received | - | 9,400 | |
| Fundraising | 40 | 1,701 | |
| 59,229 | 84,031 | ||
| Grants received, included in the above, are as follows: | |||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Harlow Council | - | 9,400 | |
| INVESTMENT INCOME | |||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Deposit account interest | 757 | 223 |
Grants received, included in the above, are as follows:
continued...
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GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
4. INCOME FROM CHARITABLE ACTIVITIES
| Activity Room hire Advancing the Christian Faith Office income Advancing the Christian Faith Kids club fees Advancing the Christian Faith School of Ministry Advancing the Christian Faith 5. CHARITABLE ACTIVITIES COSTS Advancing the Christian Faith 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Surplus on disposal of fixed assets Independent examiners fee |
Direct Costs £ 123,702 |
31.3.22 £ - - - - - Support costs £ 2,854 31.3.22 £ 454 - 1,200 |
31.3.21 £ 90 77 100 40 307 Totals £ 126,556 31.3.21 £ 605 (349,041) 1,200 |
|---|---|---|---|
7. TRUSTEES' REMUNERATION AND BENEFITS
Andrew Walker, a Trustee, received £1,854 for bookkeeping services during the year (2021: £1,800).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Key management personnel
The charity considers that the key management personnel consist of the senior pastors. Remuneration for key personnel during the year was £12,576 (2021: £12,150).
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.3.22 | 31.3.21 | |
|---|---|---|
| All Staff | 3 | 3 |
No employees received emoluments in excess of £60,000.
continued...
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GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2022
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 78,765 Charitable activities Advancing the Christian Faith 307 Investment income 223 Other income 363,366 Total 442,661 EXPENDITURE ON Charitable activities Advancing the Christian Faith 119,639 NET INCOME/(EXPENDITURE) 323,022 Transfers between funds 253,543 Net movement in funds 576,565 RECONCILIATION OF FUNDS Total funds brought forward 197,157 TOTAL FUNDS CARRIED FORWARD 773,722 10. TANGIBLE FIXED ASSETS COST At 1 April 2021 and 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Restricted Total funds funds £ £ 5,266 84,031 - 307 - 223 - 363,366 5,266 447,927 5,783 125,422 (517) 322,505 (253,543) - (254,060) 322,505 254,931 452,088 871 774,593 Fixtures and fittings £ 20,832 19,018 454 19,472 1,360 1,814 |
Total funds £ 84,031 307 223 363,366 |
|---|---|---|
| 447,927 125,422 |
||
| 322,505 - |
||
| 322,505 452,088 |
||
| 774,593 |
continued...
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GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
| 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Gift aid recoverable 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 13. MOVEMENT IN FUNDS Net movement At 1.4.21 in funds £ £ Unrestricted funds General fund 772,397 (61,339) Tithe Fund 1,325 (5,034) 773,722 (66,373) Restricted funds Youth Projects 310 (60) Healing Rooms 140 (140) Kindness Project 421 3 871 (197) TOTAL FUNDS 774,593 (66,570) |
31.3.22 £ - 780 780 31.3.22 £ - 1,200 1,200 Transfers between funds £ (5,580) 5,580 - - - - - - |
31.3.21 £ 117 1,188 1,305 31.3.21 £ 431 1,200 1,631 At 31.3.22 £ 705,478 1,871 707,349 250 - 424 674 708,023 |
|---|---|---|
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Tithe Fund Restricted funds Youth Projects Special Offerings Healing Rooms Kindness Project TOTAL FUNDS |
Incoming resources £ 58,938 - |
Resources Movement expended in funds £ £ (120,277) (61,339) (5,034) (5,034) (125,311) (66,373) (60) (60) (410) - (140) (140) (635) 3 (1,245) (197) (126,556) (66,570) |
|---|---|---|
| 58,938 - 410 - 638 1,048 59,986 |
(125,311) (60) (410) (140) (635) (1,245) (126,556) |
continued...
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GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2022
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Tithe Fund Kids Club Restricted funds Building Project Youth Projects Special Offerings Capital improvements fund Kids Club Vehicle fund Healing Rooms Kindness Project TOTAL FUNDS |
Net movement At 1.4.20 in funds £ £ 193,475 333,088 - (6,384) 3,682 (3,682) 197,157 323,022 250,745 (634) 310 - 124 (124) 948 - 2,484 - 320 (180) - 421 254,931 (517) 452,088 322,505 |
Transfers between funds £ 245,834 7,709 - 253,543 (250,111) - - (948) (2,484) - - (253,543) - |
At 31.3.21 £ 772,397 1,325 - 773,722 - 310 - - - 140 421 871 774,593 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Tithe Fund Kids Club Restricted funds Building Project Special Offerings Healing Rooms Kindness Project TOTAL FUNDS |
Incoming resources £ 442,661 - - 442,661 1,555 3,290 - 421 5,266 447,927 |
Resources Movement expended in funds £ £ (109,573) 333,088 (6,384) (6,384) (3,682) (3,682) (119,639) 323,022 (2,189) (634) (3,414) (124) (180) (180) - 421 (5,783) (517) (125,422) 322,505 |
|---|---|---|
continued...
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GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Tithe Fund Kids Club Restricted funds Building Project Youth Projects Special Offerings Capital improvements fund Kids Club Vehicle fund Healing Rooms Kindness Project TOTAL FUNDS |
Net movement At 1.4.20 in funds £ £ 193,475 271,749 - (11,418) 3,682 (3,682) 197,157 256,649 250,745 (634) 310 (60) 124 (124) 948 - 2,484 - 320 (320) - 424 254,931 (714) 452,088 255,935 |
Transfers between funds £ 240,254 13,289 - 253,543 (250,111) - - (948) (2,484) - - (253,543) - |
At 31.3.22 £ 705,478 1,871 - 707,349 - 250 - - - - 424 674 708,023 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Tithe Fund Kids Club Restricted funds Building Project Youth Projects Special Offerings Healing Rooms Kindness Project TOTAL FUNDS |
Incoming resources £ 501,599 - - 501,599 1,555 - 3,700 - 1,059 6,314 507,913 |
Resources Movement expended in funds £ £ (229,850) 271,749 (11,418) (11,418) (3,682) (3,682) (244,950) 256,649 (2,189) (634) (60) (60) (3,824) (124) (320) (320) (635) 424 (7,028) (714) (251,978) 255,935 |
|---|---|---|
The General Fund represents funds received and expended on the general running costs of Gateway Freedom Church.
The Tithe Fund represents 10% of our general offerings which is designated to be given away to charitable causes in accordance with our aims and objectives.
The Kids Club Fund represents funds received and expended on the running of Gateway After School & Holiday Club.
The Essence Fund represents funds received and expended on the running of our School of Ministry, Essence.
continued...
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GATEWAY FREEDOM CHURCH, HARLOW
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
13. MOVEMENT IN FUNDS - continued
The Building Fund represents funds received and expended on the process of building and maintaining the home of Gateway Freedom Church, the Gateway Centre.
The Youth Fund represents funds received and expended on winning and developing children and young people for the sake of the gospel.
The Special Offerings Fund represents funds received via a special offering for a particular purpose - and only spent on that purpose.
The Kids Club Restricted Funds represent funds raised for the purchase and running of two vehicles for use by Gateway After School & Holiday Club and Gateway Freedom Church, the fund therefore represents the net book value of the two vehicles and a cash balance of the unspent funds. This fund also represents monies raised for the purchase of other equipment to be used within the Kids Club.
The Capital Improvements Fund represents grant funds received that were used to install air conditioning in the Gateway Centre and the related depreciation.
The Harlow Healing Rooms Fund represents funds received and expended on the running of Harlow Healing Rooms.
The Kindness Project Fund represents funds received for our project to bless people in the Community with a gift.
14. RELATED PARTY DISCLOSURES
During the year Mrs J Stanesby, the spouse of a trustee received remuneration of £6,183 (2021: £5,451).
15. GUARANTEE STATUS
Gateway Freedom Church, Harlow is a charitable company limited by guarantee, incorporated on 7th August 2003. The company was established under a Memorandum of Association, which established the objects of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
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