**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. 

- SERVICE & GIVING - Generosity is an expression of God's heart and we will cultivate a culture of giving, service and commitment. 

- 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. 

- 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:**<br>Net Income From Sale of Gateway Centre<br>Net Church Income after Expenditure and Overheads<br>Payments to Pensioners<br>Net Expenditure / Income|**2021/22**<br>**£**<br>-<br>(5,405)<br>(61,165)<br>(66,570)|**2020/21**<br>**£**<br>329,057<br>392<br>(6,944)<br>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. 

Page 5 



**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: 

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. 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 

4. 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<br>funds<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>58,181<br>**Charitable activities**<br>4<br>Advancing the Christian Faith<br>-<br>Investment income<br>3<br>757<br>Other income<br>-<br>**Total**<br>58,938<br>**EXPENDITURE ON**<br>**Charitable activities**<br>5<br>Advancing the Christian Faith<br>125,311<br>**NET INCOME/(EXPENDITURE)**<br>(66,373)<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>773,722<br>**TOTAL FUNDS CARRIED FORWARD**<br>707,349|Restricted<br>funds<br>£<br>1,048<br>-<br>-<br>-<br>1,048<br>1,245<br>(197)<br>871<br>674|31.3.22<br>31.3.21<br>Total<br>Total<br>funds<br>funds<br>£<br>£<br>59,229<br>84,031<br>-<br>307<br>757<br>223<br>-<br>363,366<br>59,986<br>447,927<br>126,556<br>125,422<br>(66,570)<br>322,505<br>774,593<br>452,088<br>708,023<br>774,593|31.3.22<br>31.3.21<br>Total<br>Total<br>funds<br>funds<br>£<br>£<br>59,229<br>84,031<br>-<br>307<br>757<br>223<br>-<br>363,366<br>59,986<br>447,927<br>126,556<br>125,422<br>(66,570)<br>322,505<br>774,593<br>452,088<br>708,023<br>774,593|
|---|---|---|---|
||||447,927<br>125,422|
||||322,505<br>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<br>funds<br>Notes<br>£<br>**IXED ASSETS**<br>angible assets<br>10<br>1,360<br>**URRENT ASSETS**<br>ebtors<br>11<br>780<br>ash at bank and in hand<br>706,409<br>707,189<br>**REDITORS**<br>mounts falling due within one year<br>12<br>(1,200)<br>**ET CURRENT ASSETS**<br>705,989<br>**OTAL ASSETS LESS CURRENT LIABILITIES**<br>707,349<br>**ET ASSETS**<br>707,349<br>**UNDS**<br>13<br>nrestricted funds<br>estricted funds<br>**OTAL FUNDS**|Restricted<br>funds<br>£<br>-<br>-<br>674<br>674<br>-<br>674<br>674<br>674|31.3.22<br>Total<br>funds<br>£<br>1,360<br>780<br>707,083<br>707,863<br>(1,200)<br>706,663<br>708,023<br>708,023<br>707,349<br>674<br>708,023|31.3.21<br>Total<br>funds<br>£<br>1,814<br>1,305<br>773,105<br>774,410<br>(1,631)<br>772,779<br>774,593<br>774,593<br>773,722<br>871<br>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 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (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... 

Page 11 



**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... 

Page 12 



**GATEWAY FREEDOM CHURCH, HARLOW** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022** 

## **4. INCOME FROM CHARITABLE ACTIVITIES** 

|Activity<br>Room hire<br>Advancing the Christian Faith<br>Office income<br>Advancing the Christian Faith<br>Kids club fees<br>Advancing the Christian Faith<br>School of Ministry<br>Advancing the Christian Faith<br>**5.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Advancing the Christian Faith<br>**6.**<br>**NET INCOME/(EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>Depreciation - owned assets<br>Surplus on disposal of fixed assets<br>Independent examiners fee|Direct<br>Costs<br>£<br>123,702|31.3.22<br>£<br>-<br>-<br>-<br>-<br>-<br>Support<br>costs<br>£<br>2,854<br>31.3.22<br>£<br>454<br>-<br>1,200|31.3.21<br>£<br>90<br>77<br>100<br>40<br>307<br>Totals<br>£<br>126,556<br>31.3.21<br>£<br>605<br>(349,041)<br>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... 

Page 13 



**GATEWAY FREEDOM CHURCH, HARLOW** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

## **for the Year Ended 31 March 2022** 

|**9.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>funds<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>78,765<br>**Charitable activities**<br>Advancing the Christian Faith<br>307<br>Investment income<br>223<br>Other income<br>363,366<br>**Total**<br>442,661<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Advancing the Christian Faith<br>119,639<br>**NET INCOME/(EXPENDITURE)**<br>323,022<br>**Transfers between funds**<br>253,543<br>**Net movement in funds**<br>576,565<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>197,157<br>**TOTAL FUNDS CARRIED FORWARD**<br>773,722<br>**10.**<br>**TANGIBLE FIXED ASSETS**<br>**COST**<br>At 1 April 2021 and 31 March 2022<br>**DEPRECIATION**<br>At 1 April 2021<br>Charge for year<br>At 31 March 2022<br>**NET BOOK VALUE**<br>At 31 March 2022<br>At 31 March 2021|Restricted<br>Total<br>funds<br>funds<br>£<br>£<br>5,266<br>84,031<br>-<br>307<br>-<br>223<br>-<br>363,366<br>5,266<br>447,927<br>5,783<br>125,422<br>(517)<br>322,505<br>(253,543)<br>-<br>(254,060)<br>322,505<br>254,931<br>452,088<br>871<br>774,593<br>Fixtures<br>and<br>fittings<br>£<br>20,832<br>19,018<br>454<br>19,472<br>1,360<br>1,814|Total<br>funds<br>£<br>84,031<br>307<br>223<br>363,366|
|---|---|---|
|||447,927<br>125,422|
|||322,505<br>-|
|||322,505<br>452,088|
|||774,593|



continued... 

Page 14 



**GATEWAY FREEDOM CHURCH, HARLOW** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022** 

|**11.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other debtors<br>Gift aid recoverable<br>**12.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other creditors<br>Accrued expenses<br>**13.**<br>**MOVEMENT IN FUNDS**<br>Net<br>movement<br>At 1.4.21<br>in funds<br>£<br>£<br>**Unrestricted funds**<br>General fund<br>772,397<br>(61,339)<br>Tithe Fund<br>1,325<br>(5,034)<br>773,722<br>(66,373)<br>**Restricted funds**<br>Youth Projects<br>310<br>(60)<br>Healing Rooms<br>140<br>(140)<br>Kindness Project<br>421<br>3<br>871<br>(197)<br>**TOTAL FUNDS**<br>774,593<br>(66,570)|31.3.22<br>£<br>-<br>780<br>780<br>31.3.22<br>£<br>-<br>1,200<br>1,200<br>Transfers<br>between<br>funds<br>£<br>(5,580)<br>5,580<br>-<br>-<br>-<br>-<br>-<br>-|31.3.21<br>£<br>117<br>1,188<br>1,305<br>31.3.21<br>£<br>431<br>1,200<br>1,631<br>At<br>31.3.22<br>£<br>705,478<br>1,871<br>707,349<br>250<br>-<br>424<br>674<br>708,023|
|---|---|---|



Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>Tithe Fund<br>**Restricted funds**<br>Youth Projects<br>Special Offerings<br>Healing Rooms<br>Kindness Project<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>58,938<br>-|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(120,277)<br>(61,339)<br>(5,034)<br>(5,034)<br>(125,311)<br>(66,373)<br>(60)<br>(60)<br>(410)<br>-<br>(140)<br>(140)<br>(635)<br>3<br>(1,245)<br>(197)<br>(126,556)<br>(66,570)|
|---|---|---|
||58,938<br>-<br>410<br>-<br>638<br>1,048<br>59,986|(125,311)<br>(60)<br>(410)<br>(140)<br>(635)<br>(1,245)<br>(126,556)|



continued... 

Page 15 



**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**<br>General fund<br>Tithe Fund<br>Kids Club<br>**Restricted funds**<br>Building Project<br>Youth Projects<br>Special Offerings<br>Capital improvements fund<br>Kids Club Vehicle fund<br>Healing Rooms<br>Kindness Project<br>**TOTAL FUNDS**|Net<br>movement<br>At 1.4.20<br>in funds<br>£<br>£<br>193,475<br>333,088<br>-<br>(6,384)<br>3,682<br>(3,682)<br>197,157<br>323,022<br>250,745<br>(634)<br>310<br>-<br>124<br>(124)<br>948<br>-<br>2,484<br>-<br>320<br>(180)<br>-<br>421<br>254,931<br>(517)<br>452,088<br>322,505|Transfers<br>between<br>funds<br>£<br>245,834<br>7,709<br>-<br>253,543<br>(250,111)<br>-<br>-<br>(948)<br>(2,484)<br>-<br>-<br>(253,543)<br>-|At<br>31.3.21<br>£<br>772,397<br>1,325<br>-<br>773,722<br>-<br>310<br>-<br>-<br>-<br>140<br>421<br>871<br>774,593|
|---|---|---|---|



Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>Tithe Fund<br>Kids Club<br>**Restricted funds**<br>Building Project<br>Special Offerings<br>Healing Rooms<br>Kindness Project<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>442,661<br>-<br>-<br>442,661<br>1,555<br>3,290<br>-<br>421<br>5,266<br>447,927|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(109,573)<br>333,088<br>(6,384)<br>(6,384)<br>(3,682)<br>(3,682)<br>(119,639)<br>323,022<br>(2,189)<br>(634)<br>(3,414)<br>(124)<br>(180)<br>(180)<br>-<br>421<br>(5,783)<br>(517)<br>(125,422)<br>322,505|
|---|---|---|



continued... 

Page 16 



**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**<br>General fund<br>Tithe Fund<br>Kids Club<br>**Restricted funds**<br>Building Project<br>Youth Projects<br>Special Offerings<br>Capital improvements fund<br>Kids Club Vehicle fund<br>Healing Rooms<br>Kindness Project<br>**TOTAL FUNDS**|Net<br>movement<br>At 1.4.20<br>in funds<br>£<br>£<br>193,475<br>271,749<br>-<br>(11,418)<br>3,682<br>(3,682)<br>197,157<br>256,649<br>250,745<br>(634)<br>310<br>(60)<br>124<br>(124)<br>948<br>-<br>2,484<br>-<br>320<br>(320)<br>-<br>424<br>254,931<br>(714)<br>452,088<br>255,935|Transfers<br>between<br>funds<br>£<br>240,254<br>13,289<br>-<br>253,543<br>(250,111)<br>-<br>-<br>(948)<br>(2,484)<br>-<br>-<br>(253,543)<br>-|At<br>31.3.22<br>£<br>705,478<br>1,871<br>-<br>707,349<br>-<br>250<br>-<br>-<br>-<br>-<br>424<br>674<br>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**<br>General fund<br>Tithe Fund<br>Kids Club<br>**Restricted funds**<br>Building Project<br>Youth Projects<br>Special Offerings<br>Healing Rooms<br>Kindness Project<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>501,599<br>-<br>-<br>501,599<br>1,555<br>-<br>3,700<br>-<br>1,059<br>6,314<br>507,913|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(229,850)<br>271,749<br>(11,418)<br>(11,418)<br>(3,682)<br>(3,682)<br>(244,950)<br>256,649<br>(2,189)<br>(634)<br>(60)<br>(60)<br>(3,824)<br>(124)<br>(320)<br>(320)<br>(635)<br>424<br>(7,028)<br>(714)<br>(251,978)<br>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... 

Page 17 



**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. 

Page 18