Charity registrndon number 1099828 (England and Walas) Company registration number 04859696 GATEWAY FREEDOM CHURCH HARLOW ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Caladine Chartered Certified Accqvnlants
GATEWAY FREEDOM CHURCH HARLOW CONTENTS Pagg TMst8ès' raport statement of trust8ès' rÈ$ponsibilthes Independent examlnevs report Statement of finanual activities Stat8Wn8nl of finan(ial position Notes to the financial slat8ments 8-18
GATEWAY FREEDOM CHURCH HARLOW LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrJ LREast MrT B Stsnesby Mrs B D Fraser Mrs A J George Secretsry Mrs A J George Senlor management Mr Mauricio Colussi rs Sibele Colussi Senior Pastor Senior Pastor Charty numb•r Fngland and Wales) 1099828 Company number 04859696 Reglstered office Gateway Hub Maddox Road Harlow Essex CM20 3RW Independent examlner Gloria Wakers IMSO AAT. CIMAIPQI 15 Norfolk Place Chafford Hundred Essex RM16 6DE Bankèrs Bardays Bank PIC PO Box 12 Harlow Ess8X CM18 7NR
GATEWAY FREEDOM CHURCH HARLOW TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The tru8teÈs pr88Ènt thèir annual rèport and financial stat8m8nts for the y8ar 8nded 31 March 2025. The financial statsments have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Church's Mewnorandum and Articles of Assoation, the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the ChaTities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chsritiès preparing their accounts in accordance wlh the FinancAal Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102).. Objectives and activitie¥ Public benefft The Irustees have paid due Tegard lo guidance issued by the Charity Cornmisslon in deciding what activitiés thé Church should undertake. Achlevements and performance Signrficant actwitigs and achievement8 against objectives During the first IhTee Thonths of 2024, wg began preparing our new building The GataY Hub - for use. Renovation and sgtup work look place in the main hall as well as in the two fTats above it. The main hall now SeS both church meetings and communfjty outreach actwitses. One of the flats has been transformed into a vetsatile spaGe used for stnall group meetings, thildr¢n's programs on Sundays. and uffifj¢ work. The other flat is currenuy rented out, providing the church with a steady monthly incorne. Our first gathellng al The Gateway Hub took place on 215tApril and marked a truly speGial oGGasion. We c91ebratsd with hearttelt praise and worship, wami fellowship over refreshments. and the joy of belng surrounded by beloved friends and family. A great deal of love and effort went into making OUT new horne ready. INe are inttedibly proud of what has bèen ccomplished and deeply grateful for the comrnitrnsnt shown by our church family-many of whom generously gave their time lo help wtlh painting. deaning. dearing. serving freShmentS, and much more. For morg specialised tasks that required professional expertlS8, we wer8 especially blessed to hire Rasvydas Drizys. one of our own members and a skilled builder. At the heart of The Gateway Hub is the desire for li to be a place of Connection and service lo our local community-a space where we can demonstrats God's love in aGtton. Between April 2024 and March 2025, we were ab to host a wide range of events, induding pi2za nights, movie and game nights. aftemoori leas. brunches, gardening sessions. ck)thes bazaar, and many other actlvities, open to both church members and the wider community. During the week, the Hub is actively used for prayer gatherings, small group mealings. (mUnIty coff8e momings. ¢OLJnsèlling s88sions. and more. It's been truly inspiring to See how much has been achievod in Such 8 short time_ We count il a privilege to pather th God in bringing lrfè and hope lo those around us. As PAStors. we are profoundly thankfvl for our churdi family's wholehearted enthusiasm in st6ppirbg into all that God is calling us to in this new season. Love & blessing8. Mauricio and Sibeie Colussl.
GATEWAY FREEDOM CHURCH HARLOW TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal revlew Gateways income is made up primarfly from tithes and offerings from church famille5. Tithe and offerings income including lunds reclaimed under GfftAié was £65,955 12024". £61,457). In unrestrided funds. iotal incom8 for the y88r was £76,41412024: £91.1881 and expenses were £105,92612024-. £72,1011, restjlting in deficAt of £29,512 I2024= surplus of £19,0871 for the year. The total balance in unr8Stricted funds is £706,562 al the end of the ye8r12024: £736,074). In restricted fvnds. total income for the year wa5 £5,356 12024- £1,265) and expenses were £756 12024= £1,042). resulting in surplus of £4,60012024'. surplus of £223)- The total balance in reslricled funds is £19,875 at the end of the year12024.. £15,275). Many thanks to everyone who has given generslY throughout the year and to those who have organised and h8lp8d with fundraising activib'es. The role of volunteers wfthing ihe churth is extremely valuable to the organisatton and is gratefully acknowledg8d but not rinancially quantsfied in this report. Resenos policy It is thè policy of the Chureh that unrestri¢ted fUrS whiGh have not been designated for a 5pectfic use should be maintained at a level equivalent to between thTee and six month's 8xp8nditur8. Th8 tsustees eonsider that rèséNÈs at this lev91 will ensure that, in the Event of 8 signifie2nt drop in ftjnding. they will be able to continue the Church's rrent actwtties while consideration is gNen to ways in which additionaj funds may be raised. This level of reserves has been maintained throughout the year. Inveslmentpollcy Under the Memorandum and Artides of the Association the charity h8S thè powèr to make investments at the discretion of the ttUSteP5. The Gurrenl policy of the charity is lo ensure investments are low rfsk and funds are Lwrrently held with a number of diff&r8nce banks ensuring that no more than £85.000 is on deposit wtlh any 5insle organisation. Alternative opportunities are regularly reviewed. Risk Management Wa hav8 8ntÈred into an agreement with Trust Adce to prowde advi on these matters on a call off basis as and when required. Structure. govemaneÈ and managemènt Gateway Freedom Church Harlow 18 a charitsble company limited by guaTante8, illcoTporated on 7th August 2003 in England and Wales. The compony was established undpr a Memorandum of A580cialion, which estsblished the objects and powers of the charitable company and is gov8m8d und8r its Artides of Associ8ti0n, The company and charity name was changed frown Gateway chSlan Fellowship. Harfow to Gateway Freedom Church on 6th May 2010. The r8gi5twed office and tharity nuwnbers reain unchanged. The trustees, who are also the dlrectors for the purF*)se of Company law, and who served during the year and up to the date of signabJre ol the financial ststem6nts ware: MfJLR East MrT B S18nesby Mrs B D Fraser Mts A J George
GATEWAY FREEDOM CHURCH HARLOW TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 R8cruilment and appointment of tfUSte8s The dirBctor8 of the company are also charity trustees for the purposes of charity law and und8r the compantys Articles ale known as membefs of the Charity. The number of trustees is not less than threè bul i# not subject to any maximum. Trust8èS 8ra 11b18 to Serve for a three-year perfod and may then be re-elected for further three-year periods. Twslees must be at least stx1een years of age and are required lo subscrib8 to th8 Staternenl of Beliefs sel out in tho Ades, as G8teway is a Christian Gongregalion. In the event of particular skills being lost due lo retirement or resignation, individuals are approached to offer themselves for election to the board of trustees. The chalr of trustee meetings, is appointed by consensus of the other trustees. Gataway has four InJ8tees as at 31 MarGh 2025 who are responsiblè for governan. financial and fiscal matters. The board meets at least six limes a year and 8t188st one of the Pastors also attend. Responslbllty for the day-Io•day op8ratioris is delegated to the Senior Pastors 8né L?ad8rship Team. Health and Safety, Safeguarding and Finance issues are reported on and considarèd by the trlteeS on a regular basis. Minutes of trustee meeting are circulated to the church's leadership. The minutes of Ihe leadership team mèeb.ngs a also C1Ul#t¢ in a similarway. Trustses inductlon and trainlng New ttustee5 are given an orientation path, which briefs them on a trustee's legal obllgations under charity and company law, the content of thè Mèmorandum and A¥ticle5 of Assoriotion. the COTnmittee and decision m8knng process, and the most re¢6nl audvted accounts and Annual Report. G8tèway links nalionally and inteTn8tionally with Harvest Allian. a family network of churches and mlnistries in pursuit of sustained revival in the church and the outpouring KIngdC of transfoimalion in the nations. More locally, Gateway is also part Df Heart 4 Harfow. a group of evangelical church congregations in Harlow who are seeknng to work together in local mission. Gateway is also a member of the Evangelltral Mlian. The trustses, report was approv8d by the Boar(J of Trustees. MrJLREast Trustee Date..
GATEWAY FREEDOM CHURCH HARLOW STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 Th@ trustees. who are also the directDrs of Gateway Freedom Churth Harfow for the purpose of company law, are responsible for preparing the Tru8tees' Report and the financial statements in aecordance with applicable law and United Kingdom Accounting Stsndards {Unlted Klngdom Generally Accepted Accounting Practi1. Company law requires the trustses lo prepare financial stat8m8nts for 8ach financial year which give a true and falr view of the stale of affairs of th8 Church of the incomiro resources and application of resourc, including the Inrne and expenditure. of the chable ¢[panY for that year. In preparing thgse financial stal8m8nts. the trnstees are required to_. select suitable accounting polirAes and then apply them ¢onsistenUy,' observe the methods and principles in the Charities SORP.. tTake judgements and estimates that are re8sonable and prudent- state whether 8pplic8ble UK Accounting St8ndards have been followed, subject to any Materi departures disclosed and explalned in thè financial statements,. and prepare th8 financial statements on the going concem basis unless it is inappropriate to presume that the Church will continue in opèration. The trustees are re8PKJn8ible for keeping adéquat8 accounting records that disclose wrth r8a8cab1e accuracy at any Ilme the financial position of the Church and enable them to ensure that the financial statements Comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the Church and hence for tsknng reasonable steps for thi) prevention and detection of fraud and other irregularits8S.
GATEWAY FREEDOM CHURCH HARLOW INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GATEWAY FREEDOM CHURCH HARLOW l rnport to the trustees on my examination of the financaal statements of Gateway Frèedom Church Harlow (the Church) fly the year ended 31 March 2025. Responsibilities and basis of report A5 the trustees of the Church18nd also it8 directors for the purposes of company18wl, you are responsible for the pr£paratic>n of the financlal statements Sn accordance with the requlrements of the Companies Act 2005. Havi satisfied mys•tf that the financial statements of the Churrh are not required to b8 audit8d undèr Part 16 of the Companies Act 2006 and are gligible for independent examination, I report in respect of my examination of the Church's financial statements carried out under section 145 of the Chariti88 Act 2011. In carrying out my exarnination I have flOwed the Dirèctions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Indopgndgnt examlnefs statement I have CDmpleted my examination. I confirm that no matters have come lo my attention in connection with the examination gNing me cause lo believe that in any material respe¢L ccounting records were not kept in respect of the Church as required by section 386 of Éhe Companies Act 2006. thg financial statements do not accord Mlh thos8 records" or the financial ststemenls do not cnmply wtth the accounting requirements of sertion 396 of the Companies Act 2006 other than any rBquirement that the financial ststements glve a true and fair view, whith is not a matter Consided 88 part of an independent examination- or the financial statements have not been prepareEI in accordantè with the methods and principles of the Statement of Recommended Practice for accounting and porting by charitle8 applicable to charities preparing their financial statements in accordanc8 with thè Financial Rèporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and hav8 aGross no other wnatters in connection Tmth the examination tD which attention should be drawn in this r?port in order to 8nabl8 a woper undÈrst8nding of the financial 5talEmenls to be reached. Gloria Waltsys IMSC. AAT. CIMA(PQI 15 Norfolk PlaGe Chafford Hundred Essex RM166DE 2910812025
GATEWAY FREEDOM CHURCH HARLOW STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Rastrictèd fund5 funds 2025 2025 Total Unrestrfcted Restrlcted fund5 funds 2024 2024 Totsl 2025 2024 NotOS Incomè from: Tithe and offèrings Charitable actiV&S Investments 60,599 328 15.487 5,356 65,955 328 15,487 60,192 532 30,464 1.266 61,457 532 30,464 Total incomo 76.414 5.356 81.770 91.188 1.265 92.453 Expendlture on: Charitsblts activities 105,926 756 106,682 72.101 1,042 73,143 Total expendlture 105,926 756 106.682 72,101 1,042 73,143 Net incom(8xpendItU (29.512} 4,600 (24,9121 19.087 223 19,310 Transfers between fvnds 16 17.280 117,280} Net movement In funds 129,5121 4.600 124.9121 36,367 {17,0571 19.310 Reconciliation of funds". Fund balancks at 1 Apnl 2024 736,074 15.275 751,349 699.707 32,332 732,039 Fund balance$ at 31 Mar¢h 2025 706,562 19.875 726,437 736.074 15,275 751,349 Tho slaletnent of financial activities includgs all gains an¢J losses recognised in the yeor. All Income and expenditure dwive from continuing activities.
GATEWAY FREEDOM CHURCH HARLOW STATEMENT OF FINANCIAL POSITION ASAT31 MARCH2025 2025 2024 Notss Fixed assets Propety. plant and equipment 12 512,628 485.870 Current assets Trade and other recEivables ash al bank and in hand 13 852 216.444 3.658 264,125 217.296 13.4871 287,783 (2,3041 Current Ilabllltles 14 Net current assets 213,809 265.479 Total 855ets less current liabilities 726,437 751,349 The Iijnds of the Church Restricted income funds Unrestrioled funds 16 17 19,875 706,562 15,275 736.074 726,437 751,349 The company is entitled to the exemption from the audit requirement contained in Section 477 of the Companies Act 2006. for the year Ènded 31 March 2025. The directors acknowledge their respDn8ibilities for complying wrfth tho requirernorrts of the Companies Act 2006 with respeol to accounting records 8nd thè prèp8r8tion of financial statements. The Tnembers have not required the MpanY lo obtain an audit of its financial ststements for the year in question in acLordance wiÉh section 476. These financial st3teTnents have been prepared in accordan with the provisions applicable to companies subject to the small Gompanies regime. The financial statements were approved ty the twstees on .. MrJLREast TStee Company registration number [14859696 (England and Walos)
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting polici•s Company inforniation Gateway Freedom Church Harfow is a charitable company limited by guarantee. incorporated on 7th August 2003 in England and W8les. The Tegi8tsred office is Gateway Hub, Maddox Road, Harfow, Essex, CM20 3RW. ThÈ company was established under a Memorandum of Association, which established the objects and powers of the charSt8ble company and is governed under its Articles of AssDciatign. Th8 mèmbers of the company are the trustees. In tho event of the charity being wound up, the Ilabllity In respect of the guarantee is limited to £10 per member. 1.1 Basls of prgparation The financial statements have been prepared in acry)rdance with the Church's gDveming documènt, th8 Companies Act 2006, FRS 102 The Financial Reporting Stsndard applicablè in the UK and Republic of Ireland" and the Charities SORP °Accounting and Reporting by Charfties.. Ststement of Remmended Practice appIlble to charities preparing their accoun in accordance with the Financlal Rèporting Standard applicable in the UK and R8publi¢ of Ireland IFRS 1 J21. The Church is a Public Benefit Entity as defined by FRS 102. The Churth has taken advantage of the provisions in the SORP for charities not lo prepar¢ a ststement of cash flows. The finanaal statements are prepared in stsrling, which is th8 functional ¢encY of the Church. Monetary amounts In thesa financial statement5 are rounded to the nearest £. The financial ststements have b8en prepared under the historicAI cost cOnntOn. Thè prinupal aceounting poIiGie8 adopted a sel out below. 1.2 Going concèm At the time of approving the financial statements, the trustees have a reasonable expectation that the Church has Adequate resources to wntinue in operational existenGe for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in pr8partng the financial ststèments. 1.3 Charltable fvnds Unrestricted fvnds are available for LEse at th8 discretion of the trustees in furtherance of thelr charitsble obj¢ctive& Restricted fun(Is ar8 subject to specific conditions by donors or grantOTS as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the finanoal statements. 1.4 Income Inrn8 is recognis@d when the Church is legally entitled lo il after any performan condStions have been mel the amounts can be Measured reliably, and it is probable that income will be reived. Cash donations are recognised on receipt. Other donations are recognised On the Churth has been notified of the donation, unless p¢rformanGe Gonditions require defetral of the amount. Income lax recoverable in relation to éonats.ons reived under GiftAid or de8cls of cov8nant is r8cognis8d at the time ofthe donalion. Legacies are recognised on reipt or otherwise rf the Church has been notified of an impending distribution, the amtJunl is known, and reIpl is expected. If the amount is not known. the legacy is treated 8S 8 contingent asset.
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCM 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there 15 a legal or constructive obligation to transfer eInoMiC benefit to a third party, it is probable that a transfer of economic benefits will be required in setuement, and the amount of the obligation can be measured lIablY. Expènditure is dassified by activity. The wsts of each adivity are made up of the totsl of direGt costs and 8h8red costs, including support costs involved in undertaking each aclivity- Direct costs attributablè to 8 single activity are allocated directly to that activity- Shared costs which contribute to more than one 8CtNity and support costs which are not attributable lo a single activtty are apportioned between those activities an a basis nsistsnt wtth th8 use of resources. Central staff costs are allc)caled on the basis of ts'me spent, and depreciation charg&5 are allocatéd on thè porton of the a$sets us6. 1.6 Prgperty. plant and equlpment Property, plant and equipment are initially measured at ¢ost and subsBqLierilly meaSUTed at cost or valuation, net of depreciatton and any impairment losses. D8pr8ciation is rècognised 80 as to write off the cost or valuation of assets less their ]dual values over thelr useful lives on the following basis: Fr¥ehvld land and buildin9S Propety improvem8nl¥ Fixluros 8nd fittings nla 20*0 Straight line 25¥0 on reducing balan The galn or loss adslng on the dlsposal of an asset is determined as the difference between the sale proceeds and the canying value of the asset, 8nd is recognised in the slalement of financial aGtivities. Only items ov8r£250 are capitalised and depreciated by the charity. Thè 8nnual depreclallon charge for tangible assets is son5iti.ve to Ghanges in the estimated useful economic Ilves and residual values of the assets. Th@ useful economic livès and residual values are re8s8èssed 8nnually. Thèy are amended when necessary to refiect current estsmates based on Éechnological advanc8ment, future inv8Stmenls, economic utilisation and the physical condition of the assets. The freehold prop8rty is shown at purchase pricè. The trustees assumlng that the buildlng which includes two residential fiats will not suffer pemianent impairment of value, providlng rt is kept is good repair. Any aggregate surplus or deficAt arising from changes in fair value will be recognised in the Statement of Finanoal ActiMtie& Propety improv8m8nts relate to the refurbishment and iTnprovements to the building which are deprerAated on a straight line basis over five yeaTS. 1.7 Impairnient of non.currÈnt assets At each reporting end dale. the Church reviews the carrying amounts of its tangible assets to determine whèther thèrè is any indication that Ise assets have suffered an impaiTmenl loss. If any such indioation exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impaimient loss (tr any). 1.8 Cash and Gash equivalents Cash and cash equivalents include $h In hand, deposits held at call with banks, other short-lerm Ilquld investments with original maluri1185 of thr88 months or18ss, arFd bank overdrafts. Bank overdrafts aTe shown within borrowing5 in current liabilities.
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continu) 1.9 Financial instruments The Church has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Finanaal Instruments Issues. of FRS 102 to all of its finanaal instnjments. Financ1al instruments are recognised In the Church's balanc8 sheet when the Church beccffles party to the contractual provlsions of the instrument. Financial assets and liabilihes are offset. with the nel amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intendon to setue on a net b88is or to realise thts asset and s8We the liability simultsnéously. Baslc flnanclal assets Basic financial assets, which include trade and other receivables and cash and b2nk balances, are initially measured at transaction pri including transaction costs and are subseouenlly carried al amortised cost using the effective interest method unless the arrangement wnslitules a finanGing transaction. where the transaction is maasurod at thè pr85&nt value of the future receipts discounted al a market ral8 of inter¢s1. FlnaneAal #ssèts dassified as recelvable wlthln on& y8ar ar¢ not amorti$ed. Baslc flnanclal Ilabllltles Basic financ481 liabilities. includlng trade and other payables and bank loans are inltsally recognised at trans8ction price unless the 8rrangement (x)nstitutes a financ#ng tr8nsaction, where the d6bt instrument is measured at the present value of the future payrnents discounted at a market rate of interest. Financial liabilities dassifi8d as payable within one year are not amortised. Debt instruments are subsequently carried at amortised c05t, using the effectivg interesl rat¢ Tn¢thod. Trad$ payables are obligations lo pay for goods or servi5 that have been acquired in the ordinary course of operations frotn suppliets. Arnpunls payablE classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised inrtially at transaction price and subsequently measured at amortised ¢xJst using the effective intewt metho(l. Derecognltlon of flnanclal Ilabllltles Financial liabiliies are drenised when the Church's contractual obligations expire or are discharged or cancelled. 1.10 Employee beneffts The cast of any unused holiday entement is recogni#Èd In thè pÉriod in which emtAoyae's seNices ar8 received. Termination benefft5 are recognised immediately as expense when the Churth is demonstrably cotnmitted to terminate the employm8nt of an employ88 Dr to provide terniination benefits. 1.11 Retirement benefits Payments to defid contribution TBtirement benefrt schemes Are charged as an expense as they fBII due. 10-
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltleal accounting •stlmatès and Judgement$ In Ihe application of th8 Church's accounJng policles, the trustees are required to make judgèmènts, 8slimates and assumptions about th8 carrying amount of assèts and liabilities that are not readily apparent from other sOUs. The estimates and associated assumptions are based on histori1 oxporience and other factors that are considered to be relevant. Actual results may drfler from these estimates. The 8stimat8s and underlwng 88SUTnptions are revi8wed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision aff8Cts only that period, or in the period of the revision and futuré p8riods wher& the revision affects both current and future perlods. Income from ttthe and offerings Unrestricted Restricted funds funds 2025 2025 Total Unrestrlcted R•strScted fiinds funds 2024 2024 Total 2025 2024 Donations and gifts Grants other 54.287 5,356 59,643 51,522 1,065 200 52,587 200 8.670 6.312 6,312 8,670 60.599 5.356 65,955 60,192 1,265 61,457 Other Olher income is incom• tax recovered in relation to donations receivad under Grft Aid. Incc¥ne from charltable activities Unrestrlcted funds 2025 Unrestricted funds 2024 Inwmg from tharitable activities Sales of books, Equipnt, etc Fundraising events 120 208 30 502 328 532
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from inv8stFnents Unrestricted UnrÈtstrfetÈd fund8 funds 2025 2024 Rental income Int8r8st renIable 6,000 9.487 30,464 15.487 30.464 The rentsl incomo is for one of the flats that is located in the church building and r8nted out via a lètting agency. 12-
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture cffi charltable a¢tlvftlgs Charitable activities Sts Charitsble acllvSti&s costs 2025 2024 Dlrect costs Staff costs Depreciation and impairment Small equipment and IT expenses Food and refreshments Housing Iministerl Maintènance Other gift8 Rents and rates Sundry expenses Tithe gifts Trthe regular grfts Vtsiting spèakers Memberships, subscrlptions and licences Utilities Hospitality Travel & subsistance Trwning 39,009 9.063 37,922 2,443 582 199 10.760 205 400 1,420 1.187 6,590 1.537 120 2.034 890 11.020 11.015 1.300 5.934 1.536 5,065 3.438 1.130 1,346 1.846 33 242 724 505 94.590 65,904 Share of support and governance costs (se? note 71 Support Govemance 4.610 7,482 5.661 1,578 106,682 73,143 Analysis by fund Unrestricted funds Restricted funds 105,926 756 72.101 1,042 106,682 73,143 13-
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated lo activÈties Charitable activltles costs 2025 Total 2024 Bank fees Insurance Office costs Oversight costs Postage. printing & statsonery Govemance 437 948 689 2.520 116 7,482 1,640 1,416 205 2.400 1,578 12,092 7,239 2025 2024 Govemanco costs comprls•: Independent axamination fees Accountancy Legal and professional 1,000 4.878 1,000 276 302 7.482 1.578 Not m¢veJnent in funds 2D25 2024 The n8t movement in funds is stated after chargingllcTrditing)- Fees payable for the independent examination of the charitys financtal 518tements DeprecialKJn of owned property, plant and equipment 1,000 9,063 1,000 2,443 Trustees None of the trustees lor any persons connected with them) ceiVed any ramunerstion during the year, but one of them was rtslmbursed a total of £230 for expenses12024'. Iruslees were reimbursed £198)- 10 Employaès The average monthly number of 8mploy8es during the year was.. 2025 Number 2024 Numbèr
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employees (Contlnued) Employment costs 2025 2024 Wages and salaAes Other pansion costs 38,465 37.426 496 39.009 37,922 Th8re We no employees who$8 annual r6rnuner8tion was moT8 th8n £60,000. Remuneration of key management personnel The Church consid8r5 that the key m8nagem&nt p&rsonnel ¢on81sts of the $enior pastors. 2025 2024 Aggregate compensation 43,884 41,741 11 Taxatlon The charfty is 8xempt from taxation on its aCtiVeS because all its income is applied for charitabl8 purposes. 12 Property? plant and gquipment Freehold land Property Flxturos and and bulldlngs Improvements fittings Tot Cost At 1 April 2024 Addition8 478,542 29,785 1.340 508,327 35,820 34,480 At 31 March 2025 478.542 34,480 31,125 544,147 Depreciation and Impalmiènt At 1 April 2024 Depreciab'on charged in the year 22,456 2.167 22,456 9.063 6,896 At 31 March 2025 6,896 24.623 31,519 Carrying amount At 31 March 2025 478,542 27,584 6,502 512,628 At 31 March 2024 478,542 7,328 485.870 15-
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Trade and other receivables 2025 Amounts falling dué within on• year: Prepayments and accTued income 852 3,658 14 Current Ilablllfjes 2025 2024 Other taxation and Soal security other p4yobl¢s Acuuals and deferred income 12231 11,090) 4,800 104 2.200 3,487 2.304 15 Retirement benefft schemes 2025 2024 Definèd Contribution schemès Charge to profft or loss in respect of defined contribution 8chBmes 496 The Church operates a defined cothbutlon pen$lon scheme for all qualifying employees. The assets of thè scheme are held separately from those of the Church in an independently administered fvnd. 16 Restrlcted funds The restricted funds of the tharily comprise th8 unexpended babances of donations 8nd grants held on trust subject to specrfic conditions by donors as to how they may be used_ At 1 April 2024 Incomlng Re50urce5 resoureÈs èxpendèd Transfer$ At 31 Mar¢h 2025 Youth projects Special offerings Kindness project Building fund Building PA fund Outreach fvnd Audio equipment 163 (263) iioo) 800 915 1219) 8,172 5,807 4,500 800 865 {225) (250) 118) 8,422 5.825 4,500 16.275 5,356 (756) 19,875 16-
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 R05trictad fund8 Icontlnugd) Previous year, At 1 Aprll 2023 Incomlng Resources re80vg3 expended Transf•rs Al 31 March 2024 Youth projects Special offerings Kindness project Building fund Building PA fvnd Outreach fund 175 112) (490) (100) {25) 163 405 12,167 13,545 6.040 560 25 865 (12,1671 15,1231 8.422 5,825 2 (4151 32,332 1.265 {1,0421 (17.2801 15,275 Youth Fund rewesents fund8 received and expended on winning and developing children and young people for sakè of thè gDsp81. Special Offèrings Fund represents funds received via speual offerings for a particular purposè and only spent on that purpose. Kindness Project Fund represents funds reoenrEd and 8xpended lating to our proj8Ct lo bless people In the mmunitywth a gl Building FLJnd represents funds receiv 8nd expended on the prOS of purchaslng a new building ond refurbishing the home of Gateway Freedom Church, the Gateway Hub. Building PA Fund répresents donauons and expenditure on PA equipm8nt for a new building. Outreach FU represents funds received and expended on wbnning and developing peopl8 for thè sakè of the gospel. Audio Equipment Fund Is for purchas8 of audio equipment for thÈ church. 17 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balan8 of donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These includÈ designated funds which have been set aside out of ijnrestrictÈd funds by the trustees for specffic pury)oses. At 1 Aprll 2024 IncDmln9 resources RB60urc05 expended Transfers At 31 March 2025 Church fund Tithe lund 732,814 3,260 76,414 (98,2Q91 17.7171 {6.8041 6,804 704,215 2.347 736,074 76,414 1105,9261 706,562 17-
GATEWAY FREEDOM CHURCH HARLOW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Unrestricted fvnds (Contlnuedl Previous yeai: At l Aprll 2023 Ihcomlng resoiirGo$ Resources expended Transf•rs At 31 March 2024 Churth fund Tithe fund 696,648 3,059 91.188 166,3741 15,7271 11,352 5,928 732,814 3.260 699,707 91,188 172,1011 17.280 736,074 Church Fund mprès8nts fvnd received and exp¢nded on the gen8rn1 running costs of Gateway Freedom Church. rthe Fund represents 10¥. of our general off8rings which is designated lo be given away to charitable caus8S In 8ccordance our aims and objectives. 18 Analysis af assets between funds Unr•strlctÈd fund5 2025 R&8trlcted funds 2025 Total 2025 At 31 March 2025: Property. plant and equipment Current 8ssetsllliabililiesl 512.628 193.934 512,628 213,809 19.87S 706,562 19,875 726,437 Unrestrfcted funds 2024 Restrithd funds 2024 Total 2024 At 31 March 2024: Property. plant and equipment Current ass8tsllliabilitiÈs) 485,870 250,204 485,870 265,479 15,275 736.074 15,275 751,349 19 Related party transactions During the year MTS J Slanesby. th8 spouse of a trustee, received remuneration of £5,46712024'. £6,944). 18-