GATEWAY MINISTRIES
Report and Accounts
31 July 2021
Charity Number - 1108898
Company Number - 05188561
GATEWAY MINISTRIES
Report and accounts for the year ended 31 July 2021
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|Contents|
|Page(s)|
|Charity|information|1-2|
|Trustees’|annual|report|3-9|
|Statement of|directors’|responsibilities|10-11|
|Independent|examiners’|report|12-13|
|Funds|Statements:-|
|Statement|of|financial|activities|14|
|Fixed|asset|funds|15|
|Movements|in|funds|18|
|Income|and|Expenditure|account|16|
|Balance|sheet|17|
|Notes|to the|accounts|18-27|
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
The trustees present their report and accounts for the year ended 31 July 2021, which also comprisesthe directors’ report required by the CornpaniesAct 2006. Referenceand administrative details The legal name of the charity is- GATEWAY MINISTRIES.
The charity is also known by its operating name, Gateway Chapel,
The charity's areas of operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1108898. The compsny is a charity with a primary objective to reach the lost for Christ in the South East with an operationalfocus within Dartford.
Legal structureof the charity The charity is constituted as a company limited Dy guarantee, registered under the Companies Act. The governing document of the charity is the Memorandum and Articles of Association establishingthe cornpany under company legislation. There are no restrictions in the governing documents on the operation of the Charity or on its mvestment powers other than those imposed by charity law. By operation of law, all trustees are directors under the Companies Act 2006 and af directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation,
The principal operating address, telephone number, email and web address of the charity Camp David 10 KennetRoad, Crayford DA1 40N Telephone01322 553337 Email Address admin@@gatewaychapel.org.uk Web address https://gatewaychapel.org.uk
The registered office of the charity for Companies Act purposes is:-
388 Wrotham Road Gravesend DA11 7PF
Bankers Lioyds Bank 4-6High Street Dartford, DAt IBY
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
The trustees in office on the date the report was approved were:-
Mr Ade Adewurmi
Mr Samson Omole
Mr Samuel Olatubosun Onolaja
The followingpersons served as trustees during the year ended 31 July 2021 :- wereThe trusteesno changeswho duringserved theas ayear,trustee or ininthetheperiodreportingbetweenperiodthewereyearasendshownand above,the approvaland thereof the accounts, The following trustee is also a memberof the charity - Mr Samuel Olatubosun Onolaja.
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
Objects and activitiesof the charity
The purposes of the charity as set out in its governing document.
a. To advance the Christian faith in accordance with the statement of belief appearing in the schedule hereto in London and such other parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulf® such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the trust.
b. To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
The main activities undertaken in relation to those purposes during the year.
Gateway Chapel, a vibrant church situated between Erith and Crayford, has been established now for over 18 years with @ vision Io impact our local community, Our aim is to take a more active role in the betterment of our Community, both immediate and wkier. With this in mind, we haveTearfundpartneredamongstwithothers. organisationssuch as Elenor Lions Hospice, UNICEF, Samaritansand The main activities undertaken during the year to further the charity’s purpose for the public benefit. The trustees have had regard to the Charity Commission's guidance on public benefit in managingthe activities of the charity.
Our main activities and who we try to help are described below, All our charitable activities focus on the advancement of the Christian religion and the relief of poverty and sickness,
a. Ministering every week to the spiritual needs of the people through Bible study,
b. Our focus as a ministry and church is the outreach for souls.
The short term and longer term aims and objectives.
Our main objectives continue to be the advancement of the Christian religion and the relief of poverty and sickness. The strategies we applied to meet these objectives included:
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Provision of weekly church services on Thursdays and Sundays to minister to the physical, spiritual and material needs of the congregants.
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Provision of special events and meetings to meet the specific needs of target groups in the church such as men, women, youthand children.
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Focusing on the material needs of certain members undergoing difficult financial situations,
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
4, Working with other Christian agencies and churches in London to advance the preaching of the gospel.
- Provision of pastoral care for congregants and other membersof the community.
Missionaryand outreach work.
internetTY evangelism.
How the activities undertaken during the year contributed to the achievement of the aims and objectives.
All the activities/projectshave enabled us to:
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Create an awareness within our congregation, who now understand the theological basis for what we do in the community and have thus given their time and resources accordingly.
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builda network of retationships with community residents, leaders and partners.
~ false funds that have enabled chidren and young people with ife-imiting and Ie-threatening conditions to receive full hospice care in their and the families’ place of choice, which is overwhelminglytheir own homes.
~ give gifts that make a real difference in people's lives. Our gifts supply families with food and Easter/Christnaspresents in difficult situations.
- offer prayers alongside our evangelical programme ‘Operation Andrew’ which has offered restoration and hope in Christ to all who are open to spiritual guidance,
The contributionof volunteers during the year.
The charity depends on the support of its volunteers, which is much appreciated, The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work and administration. It is estimated that over 19,500 volunteer hours were provided during 2020/2021. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the statement of financial activities. The volunteers and the chanty accept and agree that no contract ofemployment is created by these arrangements.
The degree to which the achievements and performance during the year have benefited wider society.
Our church services are presented with both the regular congregant and the visitor or seeker in mind. We minister to the physical, mental and spintual needs of the whole man in our services giving specific consideration to the seekers or new comers in our midst who may not necessarily havea church background and as such may not understand the processes and procedures of Christianity,
We have also helped relieve poverty and hardship arnongst both regular and irregular congregants who are suffering from a period of financial hardship due to unemployment and lack of financial resources.
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
The significant charitable activities undertaken in the year.
The following activities were undertaken in the year under review:
Donation to schools - Gateway Chapel donated hand sanitisers to 4 local schools. Schools included Dartford Bridge Primary School, Pearsewood Primary School, Holy Trinity CoE Primary handSchoolsanitisersand Crayfordwere presentedTemole Groveto eachPrimaryschool.School on 19th October 2020. 20 bottlesof 250m! Chvistrnas food hampers - 20 Christmas food hampers were put together and donated to church membersin need,
2021.Donatonto Ellenot Hospice - Hand sanitisers were donated to Ellanor Hospice on 25th February
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
The directors who are also charity trustees for the purposes of charity law are in charge of the Articlesstrategic direction of the charitable trust. Under the requirementsof the Memorandum and theyAll must ofbeAssociation, re-electedtheat the trustees next Annualare elected Generalto serveMeeting. for a period of three years after which Duetrusteesto the givenature theirof timechurch voluntanwork, t rusteesy and receiveappointedno benefits trom thehave been so selectedcharity,on the basis of their faith, strength of charactor, skills set in the area of business management and growth and commitmentto the vision of the charity.
The policies and procedures for the induction and training of trustees.
Most trustees are already familiar with the practical work of the charity having been friends of the church for a number of years. Additionally, new trustees are invited and encouraged to function in the capacity as fmends of the church in order to understand the offerings of the church and its market. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates.
These sessions would be jointly led by the chair of trustees and the chief executive or senior Pastor of the charity and cover:
~ The obigationsof trustees. - The main documents which set out the operational framework for the charity including the Declaration of Trust. - Resourcing and the current financial position as set out in the latest published accounts. ~ Future plans and objectives,
A question & answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide “The Essential Trustee” as @ follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles of Association and the latest financial statements.
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
The charity's organisationalstructure.
Gateway Ministries is governed by a board of trustees elected to serve the charity and run its affairs. Annually, the board reviews the range of skilis it has available and uses its power of coopbon to ensure that gaps are filled, There are a number of other criteria that a trustee must meet. The board of trustees are assisted by the department leaders.
How the charity makes decisions and how decisions are delegated.
The board of trustees meet quarterly and are responsible for the strategic direction and policy of the charity. A scheme of delegation is in place and day to day responsibilty for the provision of developtheadministrativeservicestheirrestskillsteamwithandwhotheworkingimplementSeniorpracticesPastorday towhoinday lineis operations.alsowiththegoodChiefpractice.TheExecutive, administrativeHe is ablyteam assistedcontinuesbytoan
The charity's relationshipswith related parties.
In the year under review, the surn of £34,885 was paid as lease rental to Citywall Associates LimitedAssocistesfor theis theuselessor of theof worshipthe propertycentreunderon 10 anKennetoperatingRoad,lease Crayford.arrangement.DA1 40QN. Citywal Nt & however worth menbtoning that a director of the lessor, Pastor Eddie Iduoze, is also the therechantyMinster-in-chargeFurthermore,is45no 8transferresult ofofof economic thisGatewaytransaction,Ministrbenef i ases,tsistoInthetheanyrequirernent tcou r seustee/director of our of assignment,IASor24 responsible Relatedwe arePartyofficersatisfied Disclosure. of thethat property, and th eese les s umee fromhave thebeen yearfully 2015/2016expended.has done substantial improvement on the Financial review The charity's financial position at the end of the year ended 31 July 2021 moreThe financialfully detailedpositionin theof theaccounts,charity atcan31beJulysurnmarised2021 and ascomparativesfollows:for the prior period, as 2021 2020 £ £ Net income 225,640 160,064 theUnrestrictedgeneral purposesrevenue fundsof the availablecharity for 634,035 877,441 Total funds 634,035 BT? 441
Financial review of the position at the reporting date, 31 July 2021.
TheDurningthe year, incomeof £699,271 (£786,277 in 2020) was received as voluntary donations. was net income for the pesiod, as shown in the statement of financial activities, for the period 31 Julya surplus2021 isof £634,035£225,840 (£877,441(£150,564 inin 2020).2020). The value of Gateway Mnistries net assets as at
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
Policieson reserves.
The board of trustees has examined the charity's requirements for reserves in fight of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed of invested in tangible fixed assets held by the chanty should be between 3 and 6 months of the expenditure.
The expenditure for the year is £473,431, therefore the targeted reserves should be between capital£236,715.50and £118,357.75 in general funds. The reserves are needed to meet the working able requirements of the charity and the trustees are confident that at this level they would be This togeneral continuereservethe currentpolicy activitihas be e sn ofme t heand charityexceeded in the eventthis yearof a s s i gnificantn previousdropyears.in funding, Significant events which have affected the financial performance and the financial position.
in the year under review the COVID-19 pandemic would have had an adverse effect on the financial position and performance of the charity as the congregants were not able to meet physically between March 2020 and July 2021. Despite this though, the charity was able to raise an incomeof £699,271,
The major risks to which the charity is exposed and reviews and systems to mitigate them.
The trustees have identified the major strategic risks to which Gateway Ministries are exposed and established controls and actions to mitigate them. Each year, risk assessments take place at ourThe office in Crayfordand these risk assessments are subject to continual review and monitoring. to whichtrustees volunteertake astaffappropriateand assets stepsof toGatewaymoderateMinistriesand managare e xposed.the inevitable operational risks Competence-based training for volunteers, employer's liability insurance, monitoring of new legislative requirements are examples of steps taken. in particular, there are policies and procedures for chikdren and vulnerable adults protection and for health and safety risks, Furthermore, a risk register is to be established and updated at least annually,
Factorslikely to affect future financial performance.
The COVID-19 pandernic is likely to have an adverse effect on the future financial performance of the charity as there is likely to be less disposable income available to congregants, hence less Incorne to be received which wouk also affect the gift aid to be reclairned.
Principal funding sources in the year and how these support the key objectives of the charity.
The principal funding sources for the charity are currently by way of donations and gifts from congregants through the offering baskets passed uring church services and through bank standing orders. We have exercised our right to reclaim the tax on the donations and gifts received from the congregants and this has proved a steady and growing source of additional income,
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
Plansfor the future
Summary of plans for the future and the trustees' perspective of the future direction of the charity.
Gateway Chapel is a fnendly, fun filled, family church with the mission to build by the word of God. Our ¥Gion is to deliver the gospel, develop marketplace ministers and display influence globally.
Our Goais Mission oriented: To deliver the gospel to every major city in the world through the power of media.
Marketplace: To develop creative and dynamic professionals into urban missionanes representing Christ in every people and professional group through the power of mentoring.
Mege church: To display influence by the strength of discipleship through the power of ministry.
Our Culture ; We[stand] for fun, friendship, farnily& fellowship.
Mission: This is a ministry where young professionals are groomed to become urban missionaries in their careers and businesses. They display unique dimensions of divine Excellency right in the very heart of the marketplace, So, whether they are weary or high-spéited, affluent, or modestly classed, at Gateway Chapel, they will find succour, restoration of hope and strength, and a potent message that is always relevant to the needs of its people. Plans
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Gateway Media Outreach : Preaching the undiuted word of God globally with the instrumentality of technological infrastructure available now; outlets like the YouTube allows us present the messages to both the regular members of Gateway Chapel as well as other isteners from countries around Europe, Asia, Americas and Africa. We keep increasing the quality of our messages to also ensure we keep reaching those both near us as well as having a wider reach and relatable appeal.
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Gateway Smart Hub: The Camp David building of Gateway Chapel is fitted with furniture and set up as a place for professionals, Gateway Chapel attendees and other members of the community can use as a work from home’ keation and hub to enrich mental and emotional wellness, thereby helping to alleviate some of the challenges and effects of social isolation. With life going back to normal for most, we plan to maximise the current hub and open more hubs in future.
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Gateway NXL : The youth club af Gateway Chapel is a group set up to cater for the spiritual as woll as social needs of teenagers, This group has and will continue to help teens as well as their parents in dealing with the issues of the present days through the instrumentality of trainings, mentoring as well as other educational conferences, The group is not just set to cater for Gateway Chapel youths, as fis an online group; & is equally designed to help members of the community.
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Gateway Music: Gateway Chapel did not release any new album this financial year, but we had a few concerts inclusive of the cross over service,
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
~- Gateway Domestic Mission; The community fiatson section of the church has over the years come up with many fundraising initiatives that has seen the whole church get involved in helping local charities through Our Gonations of essential items and sometimes financial contribution to the work of such charites. The charities we have the plans to continue to support are MIND Sexteyheath, our local mental health Charity, Ellenof, the local hospices. old people's home and the food bank in Bexley.
- Gateway International Mission: We currently have one intematonal mission centre, located in Lagos, Nigeria, Our plan is to open more international mission stations in the near future, These Stations will serve as churches and educational centres.
Detailsof the independent examiner
Mr Adeniyi Zaccheus FOCA FCA FFAFIPA Chartered Certified Accountant 1A Town Square
Exith
Kent DAS IRE
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
Statementof the directors/trustees’ responsibilities
The charity’s trustees are responsible for the preparation of the accounts in accordance with the termsof the Companies Act 2006. the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charitiesstatements (Accounts and Reports} Regulations 2008, to preparethe financial withdrawn, in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been current bestthepractice trusteesanddeterminedprepare the to accountsinterpret this acco r esponsibilityding to the FRSas requiring102 SORP them(S t atemento follow of BulletinRecommendedissved Practicein Octoberfor2018Accountingand applicableand Reportingto all accountingby Charities)periods2015,beginning (as amended on or byafterthe1st January 2019), (The SORP), ,
In particular, the Companies Act 2006 and chanty law require the Board of trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to °-
-Accountingto prepare thePracticeaccounts(Unitedin accordanceKingdom Accountingwith UnitedStandardsKingdom Generallyand applicableAcceptedlaw).
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select suitable accounting policies and apply them consastenty;
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make judgements and estimates that are reasonable and prudent;
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« prepare the financial statements on the going concern basis unless it is inappropriate to presume that the chanty will continue in business;
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state whether applicable accounting stanan d statementsards of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charityfor the year.
The trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial $taternents comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safequarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other «regularities.
The trustees are siso responsible for the contents of the trustees’ report, and the statutory responsibilty of the independent examiner in relation to the trustees’ report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
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GATEWAY MINISTRIES
Trustees’ annual report for the year ended 31 July 2021
Method of preparation of accounts - Small company provisions
The financial statementsare set out on pages 14 to 27
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or afler 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016). These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies ragime.
Ths report was approved by the board of trustees on 1 March 2022.
Mr Samson Omole Oirector/Trustee
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GATEWAY MINISTRIES
Reportof the independent examinerto the trustees of the charitable company on the accounts for the year ended 31 July 2021
| report to the trustees on my examination of the financial statements of the charitable company on pages 14 to 17 ofwithfor[Recommended] thetheyearFinancial ended[ Practice] Reporting31 July 2021forStandardAccountingwhich have102,and(effectivebeen Reportingprepared1st JanuarybyinChanties) accordance2016)2015,aswith modified(as theamended Charitiesby FRSby 102Actthe2011SORPBulletin(the Act)(Statementissuedandin publishedOctober2018 and applicableto all accounting periods beginningon or after 1st January 2019), (The SORP), the accountingby thepoliciesCharitysatC o mmissionut on pagein 18.England & Wales (CCEW) , and under the historical cost convention and Respective responsibilities of the trusteesand the independent examiner and the basis of the report As described on page 10, you, the charitable company's trustees, who are also the directors of the incompanyaccordancefor thewithpurposesthe Companiesof companyAct law,2006,arethe responsibleCharities Actfor the2011 preparatiand all o ntherof appl the financ i altawcable st a ndtementswith United Kingdom Generally Accepted Accounting Practice, applicable to smaiiier entities, and for being satisfied that the financial statements give a true and fair view.
The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Crnarity Commission uncer section 145(5(b)of the Act.
Basis of independent examiner's statement and scope of work undertaken
| report in respect of my examination of the charity's financial statements carried out under 5145 of the Act. In carrying out my examination, | have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relationof the accountingto the conductingrecords ofkeptan byindependentthe charitableexamination,company andAn independentof the accountingexaminationsystemsincludesemployeda reviewby the charitable company and a comparison of the financial statements presented with those records, It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide alll the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
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GATEWAY MINISTRIES
Consequently, | do not express an audit opinion on the view given by the financial statements, and in particular, | express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
| planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report | obtained written assurances from the trustees of all maternal matters.
independent examiner's statement, reportand opinion Subject to the limitations upon the scope of my work as detailed above, | have completed my examination: and can confirm that:The accounts of this charitable company are not required to be audited under Part 16 of theCompanies Act 2006;
directionsThis is @ reportgiven inby respectthe Charity of an Commissionexamination undercarriedsectionout under145(5)(b)145 ofofthetheActActandwhichin accordancemay be applicable;with and that no material matters have come to my attention in connection with the examination giving me cause to bdelieve that in any material respect:accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011; the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘Irve and fair’ view, which is not a matter considered as part of an independent examination; Nave not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after1st January 2019), (The SORP).
attentionIhave no shouldconcernsbe drawnand havein thiscomereportacrossin orderno other to enablematters a inproperconnectionunderstandingwith theof examination the financialto which statementsto be reached.
Mr Adeniyi Zaccheus - Independentexaminer Chartered Certified Accountant
Erith
Kent
DAB 1RE
This report was signed on 1 March 2022
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GATEWAY MINISTRIES - Statement of Financial Activities for the year ended 31 July 2021
Statement of financial activities (including the Income and Expenditure Account for the year ended 31 July 2021, as required by the Companies Act 2006)
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|Notes|Current year|Current year|Current|year|Prior Year|
|Unrestricted|Restricted|Total Funds|Total|
|Funds|Funds|Funds|
|2021|2021|2021|2020|
|£|£|£|£|
|Income|
|Donations &|Gift aid|18|694,922|-|694,922|767,999|
|Other|Bh]|4,349|-|4,349|18.278|
|Total income|699,271|-|699,271|786,277|
|Expenditure|on:|
|Charitatte activities|23|473,431|-|473,431|635,713|
|Total expenditure|473,431|-|473,431|635,713|
|Net income for the year|225,840|-|225,840|150,564|
|Net income after transfers|225,840|-|225,840|150,564|
|Net movement|in funds|225,840|-|225,840|150,564|
|Reconciliation|of funds:-|
|Total funds brought forward|877,441|-|877,441|726,877|
|Adjustment against|reserve|(469.246)|:|(469,246)|=|
|Total funds carried forward|634,035|-|634,035|877,441|
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Theparagraph‘SORP 4,60Refofindicated the SORP,abovetheisbroughtthe classificationforward andofcarriedincorneforwardset out fundsIn the aboveformalhaveSORPbeenGocuments.agreed toAsthe required balanceby sneet A separate statement of total recognised gains and losses is not required as this statement includes all recognised gains and losses.
All the por year transactions were unrestricted items, and no further analysis is requred
All activities derive from continuing operations,
The notes attachedon pages 18 to 27 forman integral part of these accounts.
GATEWAY MINISTRIES - Statement of Financial Activities for the year ended 31 July 2021
GATEWAY MINISTRIES - Resources applied in the year ended 31 July 2021 towards fixed assets for charity use:-
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2021|2020|
|e|£|
|Funds generated in the year as detailed|in|the SOFA|225.840|150,564|
|Resources|applied|on|functional|fixed|assets|(27.285)|(7,388)|
|Resources|apolied|on|buikting|refurbishment|-|(155,368)|
|Other|applications|of funds|-|-|
|Net resources|available to fund charitable|activities|198,555|(12.190)|
|The|resources|appliedon|fixed|assets|for|charity|use|represents|the|cost|of additions|less|proceeds of|any|disposals.|
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Movements in revenue and capital funds for the year ended 31 July 2021
Revenue accumulated funds
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|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Last year|
|funds|funds|funds|total funds|
|2021|2021|2021|2020|
|£|£|£|£|
|Accumulated funds brought forward|877.441|-|877,441|726,877|
|Adjustnent agarist|reserve|(469.246)|(469,246)|-|
|Recognised gains and losses before|225.840|-|225,840|150,564|
|transfers|———|———|ee|yee|
|634,035|-|634,035|877,441|
|Closing revenue funds|634,035|.|634,035|877,441|
|Summary of|funds|Unrestricted|Restricted|Total|Last year|
|and|funds|funds|total funds|
|designated|funds|
|2021|2021|2021|2020|
|£|£|£|£|
|Revenue accumulated funds|634,035|-|634,035|877,441|
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The notes attached on pages 18 to 27 form an integral part of these accounts.
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GATEWAY MINISTRIES - Statement of Financial Activities for the year ended 31 July 2021
GATEWAY MINISTRIES
Income and Expenditure Account for the year ended 31 July 2021 as required by the Companies Act 2006
| 2021 | 2020 | |
|---|---|---|
| € | £ | |
| income | ||
| Income from operations | 604.922 | 767,999 |
| Other operating income | 4349 | 18,278 |
| Grossincome intheyearbeforeexceptional items | 699,271 | 786,277 |
| Gross income inthe yearincludingexceptionalitems | 699,271 | 786,277 |
| Expenditure | ||
| Charitable expenditure, exciuding depreciation Depreciation |
452,121 18,310 |
601,346 31,367 |
| Governancecosts | 3,000 | 3,000 |
| Realised losses on disposals ofsocialinvestments which are programme related | : | - |
| Total expenditure intheyear | 473,431 | 635,713 |
| Netincomebeforetax inthefinancial year | 225,840 | 150,564 |
| Taxon surplus on ordinary activities | a | Z |
| Net income after tax in the financial year | 225,840 | 150,564 |
| Retainedsurplusforthefinancial year | 225,840 | 150,564 |
| Allactivitiesderivefromcontinuingoperations |
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 18 to 27 form an integral part of these accounts.
GATEWAY MINISTRIES - Balance Sheet as at 31 July 2021
| Notes | 2021 | 2020 | ||
|---|---|---|---|---|
| £ | £ | |||
| Fixed assets | ||||
| Building refurbishment | 7 | - | 478,184 | |
| Tangible assets | 8 | 30,283 | 21,308 | |
| Totalfixedassets | 30,283 | 499.492 | ||
| Currentassets | ||||
| Debtors | bs) | 11,888 | 11,387 | |
| Cash atbankand inhand | 608,261 | 383,772 | ||
| Totalcurrentassets | 620,149 | 395,159 | ||
| Creditors: amounts fallingduewithin | ||||
| oneyear | 11 | (16,397) | (17,210) | |
| Netcurrentassets | 603,752 | 377,949 | ||
| Thetotalnetassetsofthecharity | 634,035 | 877,441 | ||
| The total net assetsofthe charity are funded | by the funds of the charity, asfollows:- | |||
| Restricted funds | ||||
| Unrestricted funds | ||||
| Unrestricted revenuefunds | 4 | 634,035 | 877,441 | |
| 634,035 | B77,441 | |||
| Totalcharityfunds | 634,035 | 877,441 | ||
| The directors are satisfied thatthe company is entitled to undersection477oftheCompaniesAct2006. |
exemption from | the requirement | to obtain an audit |
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The charity is subject to independent examination under charity legislaton, and the report of the independent examiner is on page 12 and 13.
The financial statements have been prepared in accordance with the provisions in Part 15 of theCompanies Act 2006. applicable to companies subject to the small companies regime.
Mr Samson Omole Trustee Approvedby the board of trustees on 1 March 2022
The notes attached on pages 18 to 27 form an integral part of these accounts.
17
GATEWAY MINISTRIES
Notes to the Accounts for the year ended 31 July 2021
1 Accounting policies
Policies relating to the production of the accounts,
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicatleCommissionto all accounting periods beginning on or after 1st January 2019), (The SORP}, publishedby the Charity charity's jurisdictionin England of registration,& Wales (CCEW) except ,that effectivethe charityJanuary has prepared2016, , andtheinfinancial accordance statements with all inapplicableaccordancelaw inwiththe the theFRSBulletin102 SORPissued(Statementin Octoberof2018Recommendedand applicablePracticeto allforaccountingAccountingperiodsand Reportingbeginning byan Chanties)or after 1st2015, January(as amended2019), (Theby SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer expicitly fo the SORP 2005 This has been done to accord with current best practice. Going concern The charitable activities are entirely dependent on voluntary donations as well as gift aids. As a consequence, the going concern basis is Gependent on the future flow of these uncertain funding streams. Accordingly, the trustees have obtained forecasts and, after reviewing the financial forecasts for future penods to 3 July 2022. the trustees are satisfied that, at the time of approving the financial statements, itis appropriate to adoptthe going concern basis in preparing the financial statements,
Other than these matters, the trustees are not aware of any material uncertainites about the charity's ability to continue as @ going concen.
Risks and future assumptions
The charity is 8 public benefit entity.
The trustees have assessed the major risks to which the church is exposed, in particular those retated to the operations and finances of the church, and are satisfied that systems and procedures are in place to mitigate our exposure to the major fieks. The church is covered by a Church & Congregation insurance policy and thes covers a number of risks including: Building & Contents, Income and Financial Risks, Trustees’ Indemnity, Fire & Theft, Employers’ All Risks, etc.
Policies relating to categories of income and income recognition.
Natureof income
This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are aiso taken for specific projects
Categoriesof income Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income
Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance relates conditions. The income the charity receives is approximately equal in value to the goods of services supplied by the charity to the purchaser.
Income trom a non-exchange transaction is whare the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
18
GATEWAY MINISTRIES
Notes to the Accounts for the year ended 31 July 2021
Income recognition
Income subject to terms and conditions which must be met before the charity is entitied to the resources is net recognises until the conditionshave deen met.
All income is accountad for gross, before deducting any related fees or costs.
Policies relating to expenditure on goods and services provided to the charity. Recognitionof liabilities and expenditure A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a resull of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settiement, and when the arnount of the obligation can be measured or reliably estimated. abilities arising from future funding commitments and constructive obligations, including performance related grants, provisionwhere the timing or the amount of the future expenditure required to settle the obligationare uncertain, give mse to 3 increases in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any ip no longerin required.liabilities, Theseand is movementsdecreased byare thecharged utilisationor ofcredited any provisionto the respectivewithin thefunds period,and andactivitiesreversedto ifwhichany provision the provision relates. Volunteers in accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this ts describedmore fully in Note 6.
Policies relating to assets, liabilities and provisions and other matters.
Tangible fixed assets are measured al thelr original cost value, or subsequent revaluation, or If donated, as descnbed above, Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to white off the assets to their anticipated residual value over their estimateduseful lives.
Music, media and office equipment 25 % straight line Furniture and fittings 25 % straight line Motor vehicles 25 % straight line
Debtors
Debtors are measured at their recoveradle amounts at the balance sheet date.
19
GATEWAY MINISTRIES
Notes to the Accounts for the year ended 31 July 2021
Fund Accounting
Unrestricted funds are available for use at the céscretion of the trustees in furtherance of the general objectives of the charity
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal Of as impliedby law.
2 TheLiabilityto taxation UK trusteescorporationconsidertax purposes, that the Accordingly,charity satisfiesthe Ct h aritye testsis set outpotentially in Paragraphexempt from1 Scheduletaxation in6 ofrespect the Financeof incomeActor 2010capitalfor gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax ts not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolutionof the charity
if upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and lisbilities, the assets represented by the accumulated fund shall be transterred to some other charitable body or bodes having similar objectsto the charity.
4 Net surplus before surplus before before tax in the financial financial year
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||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net surplus before surplus before before|tax in the financial financial|year|2021|2020|
|£|£|
|The|net|surplus|before|tax|in|the|financial|year|ts|stated|after|charging-|
|Depreciation|of owned|fixed|assets|18,310|20,853|
|Depreciation|of buliding|refurbishment|.|10,145|
|Pension|costs|2,631|2,649|
----- End of picture text -----
5 The contributionof volunteers
The charity depends on the support of its volunteers, which is much appreciated. The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work and administration, it i estimated that over 19,500 volunteer hours were provided during 2020/2021. The arrangements with volunteers are difficult to value precisely inacceptmonetaryand agreetermsthatand nohavecontractnot beenof ernploymentrecognised inisthecreatedstatementby theseof financialarrangements.activities. The volunteersand the charity
6 Staff costs and emoluments
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Salary|costs|2021|2020|
|£|£|
|Gross|salaries|excluding|trustees|and|key|management|personnel|162.963|150,060|
|Employer's national insurancefor|all staff|14,571|14,821|
|Employer's|contribution|to|defined|benefit pension|schemes|2.631|2.849|
|Total salaries, wages and related costs|180.165|167,730|
----- End of picture text -----
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current of prior year.
20
GATEWAY MINISTRIES
Notes to the Accounts for the year ended 31 July 2021
| 7 | Building refurbishment | |||||
|---|---|---|---|---|---|---|
| 2024 | 2020 | |||||
| € | £ | |||||
| Cost | ||||||
| At 1 August Additions |
507,258 - |
351,690 155,368 |
||||
| reversal At 31 July |
(507,258) - |
- 507,258 |
||||
| Depreciation | ||||||
| At 1 August | 29,074 | 18,929 | ||||
| Charge for the year | - | 10,145 | ||||
| reversal | (29,074) | : | ||||
| At 31 July | - | 29,074 | ||||
| Netbook value | - | 478,184 | ||||
| 8 | Tangiblefixed assets | |||||
| J andoffice equipment |
Furniture& fitti |
Motor hick |
Total | |||
| £ | £ | £ | £ | |||
| Cost | ||||||
| At 1 August2020 | 146,215 | 19,479 | 14,214 | 179,908 | ||
| Additions | 20,177 | 7,108 | - | 27.285 | ||
| At 34 July2021 | 166,392 | 26,587 | 14,214 | 207,193 | ||
| Depreciation | ||||||
| Al 1 August2020 | 127,831 | 16,555 | 14,214 | 158,600 | ||
| Charge forthe year | 15,008 | 3,302 | - | 18.310 | ||
| At34 July2021 | 142,839 | 19,857 | 14,214 | 176,910 | ||
| Net bookvalue | ||||||
| At31 July2021 | 23,553 | 6,730 | - | 30,283 | ||
| At31 July2020 | 18,384 | 2,924 | - | 21,308 | ||
| 9 | Debtors | 2021 | 2020 | |||
| £ | £ | |||||
| Prepayments andaccrued income | 5,903 | 5,402 | ||||
| 5,903 | 5,402 |
21
|
GATEWAY MINISTRIES
Notes to the Accounts for the year ended 31 July 2021
| 10 | Debtorsdue afteroneyear | 2021 | 2020 |
|---|---|---|---|
| € | £ | ||
| Rental deposit | 5.985 | 5,985 | |
| 5,985 | 5,985 | ||
| 11 | Creditors:amounts fallingduewithinoneyear | 2021 | 2020 |
| £ | £ | ||
| PAYE. NIC VAT and other taxes | 9,992 | 16,189 | |
| Othercreditors | 6,405 | 1,021 | |
| 16,397 | 17,210 | ||
| 12 | Incomeandexpenditureaccountsummary | 2021 | 2020 |
| £ | £ | ||
| At 1 August2020 | 877,449 | 726,877 | |
| Adjusiment againstreserve | (469,246) | - | |
| Surptus aftertax for the year | 225,840 | 150,564 | |
| At31July2021 | 634,035 | 877,441 |
13 Particulars of how particular funds are represented by assets and liabilities
| At 31 July2027 | Unrestricted | Designated | Restricted | Total |
|---|---|---|---|---|
| funds | funds | funds | Funds | |
| £ | £ | £ | £ | |
| Buddingrefurbishment | - | - | - | . |
| Tangiblefeed assets | 30,283 | . | . | 30,283 |
| Current assets | 620,149 | - | 620,149 | |
| Current liabilities | (16,387) | - | . | (16,397) |
| 634,035 | - | - | 634,035 | |
| At 1 August 2020 | Unrestricted funds |
Designated funds |
Restricted funds |
Total Funds |
| £ | £ | £ | £ | |
| Buiding refurbishment | 476,184 | - | - | 478,184 |
| Tangiblefixedassets | 21,308 | : | - | 21,308 |
| Current assets | 395,159 | - | - | 395,159 |
| Current kabilities | (17,270) | - | - | (17,210) |
| 877,441 | - | . | 677.441 |
22
GATEWAY MINISTRIES
Notes to the Accounts for the year ended 31 July 2021
14 Change in total funds over the year as shown in Note 13 , analysed by individualfunds
| Funds | Movementin | Adjustment | Funds | |
|---|---|---|---|---|
| brought | fundsin | against | carried | |
| forwardfrom 2020 |
2021 | reserve | forwardto 2022 |
|
| £ | = | £ | £ | |
| Unrestrictedanddesignated funds:- | ||||
| Unrestrictedreverefunds | B77,441 | 225,840 | (469,246) | 634,035 |
| Total unrestrictedanddesignatedtunds | 877,441 | 225,840 | (469,246) | 634,035 |
| Total charityfunds | 877.441 | 225,840 | (469.246) | 634,035 |
| Analysis of movements in funds over the year as shown In Note | 14 | |||
| Other | ||||
| income | Expenditure | Gains & | Movement | |
| losses | in funds | |||
| 2021 | 2021 | 2021 | 2021 | |
| £ | € | £ | £ | |
| Unrestrictedanddesignatedfunds:- | ||||
| Unrestricted revenuefunds | 699,271 | (473,431) | - | 225,840 |
| 699,271 | (473,431) | - | 225,840 |
15 Analysis of movements in funds over the year as shown In Note 14
16 The purposfor which th e fundss Unrestricted and designated funds:Unrestricted revenue funds These funds are held for the meeting the objectives of the charity, and to providefree fromreservesall restrictions for futureon activities,their use. and . subjectto charity legistation,are
Restricted funds:Restricted revenue funds These funds are to be used for specific purposes such as specified within identifiedthe objectstoofthethefund,charity.together Expenditurewith a fairwhich meetsallocation theseof managementcriteria wiland be support costs.
17 Ultimate controlling party
The charity is under the control of #s legal members.
23
GATEWAY MINISTRIES
Detailed analysis of income and expenditure for the year ended 31 July 2021 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
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||||||||||
|---|---|---|---|---|---|---|---|---|
|18|Donations|and|Gift|aid|Current year|Currentyear|Currentyear|Prior year|
|Unrestricted|Restricted|Total funds|
|funds|funds|Total funds|
|2021|2021|2021|2020|
|£|£|£|£|
|Donations|from individuals|580,576|-|580,576|592,287|
|Gift|aid|114,346|-|114,346|128,607|
|Total|donations|and|gifts|from|aa|ae|ee|ead|
|Individuals|694,922|-|694,922|720,894|
|Current year|Currentyear|Currentyear|=|Prior year|
|Unrestricted|Restricted|Totalfunds|Total funds|
|funds|funds|
|2021|2021|2021|2020|
|£|£|£|£|
|Project|incame|:|*|.|47.105|
|Total project income|c:|=|=|47,105 _|
|Totalfect|donations,||gift aid and|694,922|.|694,922|767,999|
|19|Other|income|Current year|Currentyear|Current year|Prior year|
|Unrestricted|Restricted|Totalfunds|Total funds|
|funds|funds|
|2021|2021|2021|2020|
|£|£|£|£|
|Others|4,349|-|4.449|18.278|
|Total other income|4,349|:|4,349|18,278|
----- End of picture text -----
24
GATEWAY MINISTRIES
Detailed analysis of income and expenditure for the year ended 31 July 2021 as required by the SORP 2015
20 Expenditure on charitable activities - Direct spending
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|Current year|Current year|Currentyear|Prior year|
|Unrestricted|Restricted|Totalfunds|Total funds|
|funds|funds|
|2021|2021|2021|2020|
|€|£|£|£|
|Gross wages and|salaries|-|chantable|
|activié|162,963|-|162,963|150,060|
|Employers’|Ni|- Charitable activities|14,571|.|14,571|14,821|
|Defined|benefit pension|costs|-|charitable|
|-|2,631|-|2,631|2,849|
|Travel|and|subsistence|-|Charitable|
|ivities|6,652|-|6,652|68,467|
|Marketing and advertising|of charitable|22|-|22|622|
|Missions (outreach work)|6,006|-|6,006|7,575|
|Evangelism and promotion|8905|-|8,905|23,420|
|Print and design|45,897|-|45,897|35,762|
|Events and meetings|7.818|-|7,818|53,663|
|Motor expenses|5,950|-|5,950|22,735|
|Members’|welfare|-|-|-|6,098|
|Musican expenses|37,983|.|37,983|59,383|
|Gifts|to|charities and|visiting|ministers|37,114|.|37,114|17,400|
|Total direct spending|336,512|-|336,512|462,855|
----- End of picture text -----
25
GATEWAY MINISTRIES
Detailed analysis of income and expenditure for the year ended 31 July 2021 as required by the SORP 2015
21 Support costs for charitable activities
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Current year|Current year|Current year|Prior year|
|Unrestricted|Restricted|Totalfunds|Total funds|
|funds|funds|
|2021|2021|2021|2020|
|€|€|£|£|
|Employee costs|not included in|direct|
|costs|
|Catering|anc|refreshment|°|e|*|343|
|Computer|supplies and|software|5,698|-|5,698|755|
|Training|6,969|-|8,969|2,950|
|Storage and cleaning|5,524|-|5,524|4,728|
|Office expenses|3.244|-|3,244|12,901|
|Premises|expenses|
|Rental and|property lease|35,885|-|35,885|58,285|
|Rates and water charges|4,323|-|4,323|3,474|
|Premises|repairs,|renewals and|
|uinharianns|20.453|-|20,453|6,954|
|Property insurance|1468|-|1,468|4,087|
|Administrative|overheads|
|Telephone,|fax and internet|2,942|-|2,942|5,732|
|Insurance|5,080|.|5,080|4,854|
|Stationery and|printing|-|-|-|1,455|
|Security and|safety|673|-|673|516|
|Lighting and|heating|5,750|-|5,750|3,980|
|Viebsite|development|13,628|-|13,628|19,010|
|CD's|books and|tapes|-|-|-|500|
|Subscription|Es|=|a|200|
|Professional|fees paid to advisors|
|other than|the auditor or examiner|
|Other legal and|professional|-|-|-|2,100|
|Financial costs|
|Bank charges|1,972|-|1,972|5,667|
|Depreciation|
|Depreciation|for the|period|18,310|-|18,310|31,367|
|Support costs before|reallocation|133,919|-|133,919|169,858|
|Total support costs|133,919|-|133,919|169,858|
----- End of picture text -----
----- Start of picture text -----
|
|
|
----- End of picture text -----
‘
GATEWAY MINISTRIES
Detailed analysis of income and expenditure for the year ended 31 July 2021 as required by the SORP 2015
22 Other expenditure - Governance costs
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Current year|Currentyear|Current year|Prior|year|
|Unrestricted|Restricted|Totalfunds|Total funds|
|funds|funds|
|2021|2021|2021|2020|
|£|£|£|£|
|independent|examiner's|fees|3,000|-|3,000|3,000|
|Total governance costs|3,000|.|3,000|3,000|
|23|Total|charitable expenditure|Current year|Currentyear|Currentyear|= Prior year|
|Unrestricted|Restricted|Totalfunds|Total funds|
|funds|funds|
|2021|2021|2021|2020|
|£|3|£|£|
|Total direct spending|336,512|-|336,512|462,855|
|Total support costs|133,919|-|133,919|169,858|
|Total governance costs|3,000|-|3,000|3,000|
|Total charitable expenditure|473,431|-|473,431|635,713|
----- End of picture text -----
All the expenditure in the prior year was unrestricied.
|
27