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2025-07-31-accounts

GATEWAY MINISTRIES

Report and Accounts 31 July 2025

Charity Number - 1108898

Company Number - 05188561

GATEWAY MINISTRIES

Report and accounts for the year ended 31 July 2025

Contents Pages
Charity information 1-2
Trustees' annual report 3-10
Statement of the trustees' 11-12
responsibilities
Independent auditors' report 13-15
Funds Statements: -
Statement of financial activities 16
Fixed asset funds 17
Movements in funds 17
Income and expenditure account 18
Balance sheet 19
Cashflow statement 20
Notes to the accounts 21-29

GATEWAY MINISTRIES

Trustees' annual report for the year ended 31 July 2025

Charity Information:

The trustees present their report and accounts for the year ended 31 July 2025, which also comprises the directors' report required by the Companies Act 2006.

Reference and 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 company is a charity with a primary objective to reach the lost for Christ in the South East with an operational focus within Dartford.

Legal structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Act. The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by charity law.

By operation of law, all trustees are directors under the Companies Act 2006 and all 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 Kennet Road, Crayford DA1 4QN Telephone 01322 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

Lloyds Bank 4 - 6 High Street Dartford, DA1 1BY

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GATEWAY MINISTRIES

Trustees' annual report for the year ended 31 July 2025

The trustees in office on the date the report was approved were: -

Mr. Ade Adewumi

Mr. Samson Okiama Omole

Mr. Samuel Olatubosun Onolaja

The following people served as trustees during the year ended 31 July 2025:-

The trustees who served as trustees in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

The following trustee is also a member of the charity - Mr. Samuel Olatubosun Onolaja.

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GATEWAY MINISTRIES

Trustees' annual report for the year ended 31 July 2025

Objects and activities of 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 fulfil 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 a vision to impact our local community. Our aim is to take a more active role in the betterment of our community, both immediate and wider. With this in mind, we have partnered with organisations such as Ellenor Lions Hospice, UNICEF, Samaritans and Tearfund amongst others.

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 managing the 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, prayer meetings, counselling sessions and healing meetings.

The short term and longer term aim 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:

  1. Provision of weekly church services on Thursdays and Sundays to minister to the physical, spiritual and material needs of the congregants.

  2. Provision of special events and meetings to meet the specific needs of target groups in the church such as men, women, youth and children.

  3. 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 2025

  1. Working with other Christian agencies and churches in London to advance the preaching of the gospel.

  2. Provision of pastoral care for congregants and other members of the community.

  3. Missionary and outreach work.

  4. Internet TV evangelism.

How the activities undertaken during the year contributed to the achievement of the aims and objectives.

All the activities/projects have enabled us to:

The contribution of 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 22,000 volunteer hours were provided during 2024/2025. 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 charity accept and agree that no contract of employment 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 spiritual needs of the whole man in our services giving specific consideration to the seekers or new comers in our midst who may not necessarily have a church background and as such may not understand the processes and procedures of Christianity.

We have also helped relieve poverty and hardship amongst 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 2025

The significant charitable activities undertaken in the year.

NXL - Youth Church and Events

NXL Sports Day: 28th August 2024 with 150 participants NXL Enterprise & BBQ Day 29th August 2024 with100 participants NXL Community Concert Sept 2024 with 200 attendees.

Ladies Weekend Retreat (To empower and educate women)- 25th October 2024 - 80 participants.

GWC Christmas Jumper Appeal/Collection - 15th December 2024.

Christmas Family Food Hamper: 16th December - 15 families helped with Christmas food shopping.

19th April 2025: Community Item Donation - 37 attendees and numerous items donated and collected.

Items also sent to Uganda for the Ugandan Orphanage GWC supports.

Money Awareness Course (Money management education and money coaching assistance with CAP) - July 7th 2025 : 10 people taken through the course

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 strategic direction of the charitable trust. Under the requirements of the Memorandum and Articles of Association, the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

All trustees give their time voluntarily and receive no benefits from the charity.

Due to the nature of church work, trustees appointed have been so selected on the basis of their faith, strength of character, skills set in the area of business management and growth and commitment to the vision of the charity.

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GATEWAY MINISTRIES

Trustees' annual report for the year ended 31 July 2025

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 friends 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:

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 a 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 2025

The charity's organisational structure.

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 skills it has available and uses its power of cooption 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 responsibility for the provision of the services rest with the Senior Pastor who is also the Chief Executive. He is ably assisted by an administrative team who implement day to day operations. The administrative team continues to develop their skills and working practices in line with good practice.

The charity's relationships with related parties.

In the year under review, the sum of £53,856 was paid as lease rental to Citywall Associates Limited for the use of the worship centre on 10 Kennet Road, Crayford. DA1 4QN. Citywall Associates is the lessor of the property under an operating lease arrangement.

It is however worth mentioning that a director of the lessor, Pastor Eddie Iduoze, is also the Minister-in-charge of Gateway Ministries. In the course of our assignment, we are satisfied that there is no transfer of economic benefits to any trustee/director or responsible officer of the charity as a result of this transaction, as is the requirement of IAS 24 Related Party Disclosure.

Financial review

The charity's financial position at the end of the year ended 31 July 2025

The financial position of the charity at 31 July 2025 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Net income
Unrestricted revenue funds available for the
general purposes of the charity
Total funds		 2025
£
172,221
888,403
888,403		 2024
£
44,677
716,182
716,182

Financial review of the position at the reporting date, 31 July 2025.

During the year, income of £1,001,103 (£903,716 in 2024) was received as voluntary donations. The net income for the period, as shown in the statement of financial activities, for the period was £172,221 (£44,677 in 2024). The value of Gateway Ministries net assets as at 31 July 2025 is £888,403 (£716,182 in 2024).

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GATEWAY MINISTRIES

Trustees' annual report for the year ended 31 July 2025

Policies on reserves.

The board of trustees has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure.

The expenditure for the year is £1,047,257 therefore the targeted reserves should be between £523,628.50 and £261,814.25 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. This general reserve policy has been met and exceeded this year as in previous years.

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 our office in Crayford and these risk assessments are subject to continual review and monitoring. The trustees take all appropriate steps to moderate and manage the inevitable operational risks to which volunteer staff and assets of Gateway Ministries are exposed.

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 children and vulnerable adults protection and for health and safety risks. Furthermore, a risk register is to be established and updated at least annually.

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 during 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.

Plans for the future

Summary of plans for the future and the trustees' perspective of the future direction of the charity.

Gateway Chapel is a friendly, fun filled, family church with the mission to build by the word of God. Our vision is to deliver the gospel, develop marketplace ministers and display influence globally.

Our Goals

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 missionaries representing Christ in every people and professional group through the power of mentoring.

Mega church: To display influence by the strength of discipleship through the power of ministry. Our Culture : We stand for fun, friendship, family & fellowship.

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GATEWAY MINISTRIES

Trustees' annual report for the year ended 31 July 2025

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-spirited, 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 MINISTRIES

Trustees' annual report for the year ended 31 July 2025

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GATEWAY MINISTRIES

Trustees' annual report for the year ended 31 July 2025

Statement of the trustees' responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of 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 Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to 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 after 1st January 2019), (The SORP), .

In particular, the Companies Act 2006 and charity 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 :-

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 charity for 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 statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are also responsible for the contents of the trustees' report, and the statutory responsibility 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 2025

Method of preparation of accounts - Small company provisions

The financial statements are set out on pages 16 to 20.

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 after 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 regime.

This report was approved by the board of trustees on 15/05/2026.

…………………………………………

Mr. Samson Pr. Samson Omole (May 15, 2026,11:13am) Omole Director/Trustee

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GATEWAY MINISTRIES

Independent auditors' report to the trustees of Gateway Ministries on the accounts for the year ended 31 July 2025

Opinion

We have audited the financial statements of Gateway Ministries (the 'charitable company') for the year ended 31 July 2025 which comprise the statement of financial activities, the balance sheet and notes to the financial statements including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concerns

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditors' report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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GATEWAY MINISTRIES

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect there under.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

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GATEWAY MINISTRIES

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Krishna Prasad Dahal (Senior Statutory Auditor) For and on behalf of Bayar Hughes & Co Limited Statutory Auditors Chartered Certified Accountants

4 Green Lane Business Park 238 Green Lane New Eltham, London SE9 3TL Date: 15/05/2026

Bayar Hughes & Co Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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GATEWAY MINISTRIES - Statement of Financial Activities for the year ended 31 July 2025

Statement of financial activities (including the Income and Expenditure Account for the year ended 31 July 2025, as required by the Companies Act 2006)

Notes
Income
Donations & gift aid
16
Other income
17
Total income
Exceptional item
Expenditure on:
Charitable activities
21
Total expenditure
Net income for the year
Net income after transfers
Net movement in funds
Reconciliation of funds:-
Total funds brought forward
Total funds carried forward
Current year
Unrestricted
Funds
2025
£
1,200,628
18,680
1,219,308
170
1,047,257
1,047,257
172,221
172,221
172,221
716,182
888,403		 Current year
Restricted
Funds
2025
£
-
-
-
-
-
-
-
-
-
-		 Current year
Total Funds
2025
£
1,200,628
18,680
1,219,308
170
1,047,257
1,047,257
172,221
172,221
172,221
716,182
888,403		 Prior Year
Total
Funds
2024
£
1,083,849
-
1,083,849
6,308
1,045,480
1,045,480
44,677
44,677
44,677
671,505
716,182

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the balance sheet.

A separate statement of total recognised gains and losses is not required as this statement includes all recognised gains and losses.

All the prior year transactions were unrestricted items, and no further analysis is required. All activities derive from continuing operations.

The notes attached on pages 21 to 29 form an integral part of these accounts.

16

GATEWAY MINISTRIES - Statement of Financial Activities for the year ended 31 July 2025

GATEWAY MINISTRIES - Resources applied in the year ended 31 July 2025 towards fixed assets for charity use:-

assets for charity use:-
Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
Resources applied on Building
Net resources available to fund charitable activities		 2025
£
172,221
(32,120)
(1,092,482)
(952,381)		 2024
£
44,677
(33,552)
-
11,125

The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.

Movements in revenue and capital funds for the year ended 31 July 2025

Revenue accumulated funds

Unrestricted
funds
2025
£
Accumulated funds brought forward
716,182
Recognised gains and losses before
transfers
172,221
888,403
Closing revenue funds
888,403
Summary of funds
Unrestricted
and
designated funds
2025
£
Revenue accumulated funds
888,403		 Restricted
funds
2025
£
-
-
-
-
Restricted
funds
2025
£
-		 Total
Last year
funds
total funds
2025
2024
£
£
716,182
671,505
172,221
44,677
888,403
716,182
888,403
716,182
Total
Last year
funds
total funds
2025
2024
£
£
888,403
716,182

The notes attached on pages 21 to 29 form an integral part of these accounts.

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GATEWAY MINISTRIES - Statement of Financial Activities for the year ended 31 July 2025

GATEWAY MINISTRIES

Income and Expenditure Account for the year ended 31 July 2025 as required by the Companies Act 2006

Income
Income from operations
Other operating income
Gross income in the year before exceptional items
Exceptional item
Gross income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation
Depreciation
Governance costs
Total expenditure in the year
Net income before tax in the financial year
Tax on surplus on ordinary activities
Net income after tax in the financial year
Retained surplus for the financial year
All activities derive from continuing operations		 2025
£
1,219,308
-
1,219,308
170
1,219,478
1,010,550
23,507
13,200
1,047,257
172,221
-
172,221
172,221		 2024
£
1,083,849
-
1,083,849
6,308
1,090,157
1,005,708
23,072
16,700
1,045,480
44,677
-
44,677
44,677

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 21 to 29 form an integral part of these accounts.

18

GATEWAY MINISTRIES - Balance Sheet as at 31 July 2025

Fixed assets
Notes
2025
£
2024
£
Tangible assets
7
1,133,347
32,252
Total fixed assets
1,133,347
32,252
Current assets
Debtors
8
52,772
59,454
Cash at bank and in hand
245,872
641,867
Total current assets
298,644
701,321
Creditors: amounts falling due within
one year
9
(23,390)
(17,391)
Net current assets
275,254
683,930
Net assets
1,408,601
716,182
Creditors: amounts falling due after
more than one year
9
(520,198)
-
The total net assets of the charity
888,403
716,182
The total net assets of the charity are funded by the funds of the charity, as follows: -
Restricted funds
-
-
Unrestricted funds
Unrestricted revenue funds
12
888,403
716,182
888,403
716,182
Total charity funds
888,403
716,182		 59,454
641,867		 2024
£
32,252
716,182
-
716,182
-
716,182
716,182

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 audit under charity legislation, and the report of the independent auditor is on page 11 to 13.

The 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 regime.

……………………………………

Pr. Samson Omole (May 15, 2026,11:13am)Mr. Samson Omole

Trustee Date: 15/05/2026

The notes attached on pages 21 to 29 form an integral part of these accounts.

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GATEWAY MINISTRIES

Cash Flow Statement for the year ended 31 July 2025

Note
Cash flows from operating activities
Net income for the year (per SOFA)
Adjustments for non-cash items:
Add back: depreciation of tangible fixed assets
7
Changes in working capital:
Decrease / (increase) in total debtors
Increase in creditors due within one year
Interest paid on mortgage borrowings (capitalised)
7B
Net cash generated from operating activities
Cash flows from investing activities
Purchase of freehold property - Heathfield, 82 Fawkham
Avenue, Longfield, Kent DA3 7HE (Note 7)
7A
Purchase of tangible fixed assets (Note 7)
7
Net cash used in investing activities
Cash flows from financing activities
Gross mortgage proceeds - Kingdom Bank Ltd (drawdown
15 November 2024)
Mortgage Payments made (8 instalments: December 2024
- July 2025)
Net cash from financing activities
9B
Cash and cash equivalents at 1 August 2024 (Opening)
Net (decrease) / increase in cash and cash equivalents
Cash and cash equivalents at 31 July 2025 (Closing)		 2025
£
2024
£
172,221
44,677
23,507
23,073
6,682
(8,407)
5,999
11,498
(20,253)
-
188,156
70,841
(1,072,229)
-
(32,120)
(33,552)
(1,104,349)
(33,552)
525,000
-
(4,802)
-
520,198
-
641,867
604,578
(395,995)
37,289
245,872
641,867

The notes attached on pages 21 to 29 form an integral part of these accounts.

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GATEWAY MINISTRIES

Notes to the Accounts for the year ended 31 July 2025

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 applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with 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 after 1st January 2019), (The 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 explicitly to 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 dependent on the future flow of these uncertain funding streams.

Accordingly, the trustees have reviewed post-year-end transactions and assessed the current cash position. The trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements.

Other than these matters, the trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern.

Risks and future assumptions

The charity is a public benefit entity.

The trustees have assessed the major risks to which the church is exposed, in particular those related 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 risks. The church is covered by a Church & Congregation insurance policy and this 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.

Nature of income

This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.

Categories of 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 related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.

Income from a non-exchange transaction is where 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.

21

GATEWAY MINISTRIES

Notes to the Accounts for the year ended 31 July 2025

Income recognition

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which 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 is described more fully in Note 5.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described 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 write off the assets to their anticipated residual value over their estimated useful 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 recoverable amounts at the balance sheet date.

Fund Accounting

Unrestricted funds are available for use at the discretion 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 or as implied by law.

22

GATEWAY MINISTRIES

Notes to the Accounts for the year ended 31 July 2025

Borrowing Costs

Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of that asset in accordance with FRS 102 Section 25. A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use. All other borrowing costs are recognised as an expense in the period in which they are incurred. Capitalisation ceases when the asset is substantially ready for its intended use.

2 Liability to taxation

The trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital 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 is not recoverable by the charity and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Net surplus before tax in the financial year

Net surplus before tax in the financial year
2025 2024
£ £
The net surplus before tax in the financial year is stated after charging: -
Depreciation of owned fixed assets 23,507 23,072
Pension costs 2,642 3,042
Statutory audit fee 7,200 7,200

5 The contribution of 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 is estimated that over 19,500 volunteer hours were provided during 2024/2025. 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 charity accept and agree that no contract of employment is created by these arrangements.

6 Staff costs and emoluments

Salary costs
Gross salaries excluding trustees and key management personnel
Employer's national insurance for all staff
Employer's contribution to defined benefit pension schemes
Total salaries, wages and related costs		 2025
2024
£
179,272
£
185,758
13,809
17,044
2,642
3,042
195,723
205,844

Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.

23

GATEWAY MINISTRIES

Notes to the Accounts for the year ended 31 July 2025

7 Tangible fixed assets
Cost
At 1 August 2024
Additions - Purchase price
Additions - Borrowing costs
At 31 July 2025
Depreciation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Building
Music, media
and office
Furniture &
fittings
equipment
£
£
£
-
231,394
26,587
1,072,229
25,906
6,214
20,253
-
-		 Motor
Total
vehicles
£
£
14,214
272,195
-
1,104,349
-
20,253
1,092,482
257,300
32,801		 14,214
1,396,797
-
199,143
26,586
-
21,954
1,553		 14,214
239,943
-
23,507
-
221,097
28,139		 14,214
263,450
1,092,482
36,203
4,662		 -
1,133,347
-
32,251
1		 -
32,252
8 Debtors
Prepayments
Accrued income
Other debtor		 2025
£
2024
£
3,305
7,523
49,093
45,765
374
181
52,772
53,469

24

GATEWAY MINISTRIES

Notes to the Accounts for the year ended 31 July 2025

Debtors due after one year
Rental deposit
9
A. Creditors: amounts falling due within one year
Accruals
PAYE, NIC VAT and other taxes
Other creditors
B. Creditors: amounts falling due after more than one year
Mortgage Loan - Kingdom Bank Ltd		 2025
£
-		 2024
£
5,985
- 5,985
2025
£
14,410
4,910
4,070		 2024
£
7,200
5,928
4,263
23,390 17,391
2025
£
520,198		 2024
£
-
520,198 -

The mortgage loan was drawn down during the year to fund the acquisition of the freehold property at Heathfield, 82 Fawkham Avenue, Longfield, Kent, DA3 7HE. The loan carries interest at 5.80% per annum (Kingdom Bank Ltd Gospel Partner Prime Discounted variable rate) and is repayable over 30 years by monthly instalments of £3,080.45. The loan is secured by a first legal mortgage over the property.

10 Income and expenditure account summary
At 1 August 2024
Surplus after tax for the year
At 31 July 2025		 2025
£
716,182
172,221		 2024
£
671,505
44,677
888,403 716,182

11 Particulars of how particular funds are represented by assets and liabilities

At 31 July 2025
Building
Tangible Fixed Assets
Current Assets
Current Liabilities
Long Term Liabilities
At 1 August 2024
Tangible Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
funds
£
1,092,482
40,865
298,644
(23,390)
(520,198)
888,403
Unrestricted
funds
£
32,252
701,321
(17,391)
716,182		 Total
Funds
£
1,092,482
40,865
298,644
(23,390)
(520,198)
888,403
Total
Funds
£
32,252
701,321
(17,391)
716,182

25

GATEWAY MINISTRIES

Notes to the Accounts for the year ended 31 July 2025

12 Change in total funds over the year as shown in Note 11, analysed by individual funds

Unrestricted and designated funds:-
Unrestricted revenue funds
Total unrestricted and designated funds
Total charity funds		 Funds
Movement in
Adjustment
Funds
brought
funds in
against
carried
forward from
2025
reserve
forward to
2024
2026
£
£
£
£
716,182
172,221
-
888,403
716,182
172,221
-
888,403
716,182
172,221
-
888,403

13 Analysis of movements in funds over the year as shown in Note 12

Unrestricted and designated funds:-
Unrestricted revenue funds		 Income
2025
£
1,219,478		 Expenditure

2025

£
(1,047,257)		 Other
Gains &
losses

2025

£
-		 Movement

in funds

2025

£
172,221
1,219,478 (1,047,257) - 172,221

14 The purposes for which the funds as

Unrestricted and designated funds:- Unrestricted revenue funds

These funds are held for meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.

Restricted funds:- Restricted revenue funds

These funds are to be used for specific purposes such as specified within the objects of the charity. Expenditure which meets these criteria will be identified to the fund, together with a fair allocation of management and support costs.

15 Ultimate controlling party

The charity is under the control of its legal members.

26

GATEWAY MINISTRIES

Detailed analysis of income and expenditure for the year ended 31 July 2025 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

16Donations and Gift aid
Donations from individuals
Gift aid
Total donations and gifts from
individuals
17Other income		 Current year
Unrestricted
funds
2025
£
1,001,103
199,525		 Current year
Restricted
funds
2025
£
-
-		 Current year
Total funds
2025
£
1,001,103
199,525		 Prior year
Total funds
2024
£
903,716
180,133
1,200,628 - 1,200,628 1,083,849
18,680 -
 18,680 -

18 Expenditure on charitable activities - Direct spending

Gross wages and salaries - charitable activities
Employers' NI - Charitable activities
Defined benefit pension costs - charitable activities
Travel and subsistence - Charitable activities
Subcontractors costs
Missions - Essex
- Uganda
- Medway
- Lagos
Evangelism and promotion
Print and design
Events and meetings
Motor expenses
Members welfare
Musician expenses
Gifts to charities and visiting ministers
Total direct spending		 Current year
Unrestricted
funds
Current year
Restricted
funds
2025
2025
£
£
179,272
-
13,809
-
2,642
-
41,417
-
3,650
-
59,318
-
2,744
-
29,882
-
33,528
-
-
17,085
-
150,672
-
2,165
-
13,821
-
159,152
-
39,065
-		 Current year
Total funds
2025
£
179,272
13,809
2,642
41,417
3,650
59,318
2,744
29,882
33,528
-
17,085
150,672
2,165
13,821
159,152
39,065		 Prior year
Total funds
2024
£
185,758
17,044
3,042
37,572
13,285
-
19,273
-
13,438
-
35,283
119,471
4,891
20,984
173,254
60,777
748,222
-		 748,222 704,072

27

GATEWAY MINISTRIES

Detailed analysis of income and expenditure for the year ended 31 July 2025 as required by the SORP 2015

19 Support costs for charitable activities

Support costs for charitable activities
Employee costs not included in direct
costs
Training
Staff health costs
Recruitmnet costs
Premises expenses
Rental and property lease
Rates and water charges
Premises repairs, renewals and maintenance
Storage and cleaning
Other Premises Costs
Property insurance
New location expenses
Administrative overheads
Telephone, fax and internet
Insurance
Stationery and printing
Security and safety
Catering and refreshment
Lighting and heating
Website expenses
Sound and equipment hire
Computer supplies and software
Office expenses
Media expenses
Subscription
Sundry expenses
Professional fees paid to advisors other
than the auditor or examiner
Other legal and professional
Financial costs
Bank charges
Mortgage interest
Depreciation
Depreciation for the period
Support costs before reallocation
Total support costs		 Current year
Unrestricted
Current year
Restricted
funds
funds
2025
2025
£
£
1,007
-
3,060
-
-
-
53,856
-
4,744
-
12,439
-
4,482
-
9,807
-
2,364
-
-
-
6,202
-
4,487
-
642
1,298
-
20,641
-
15,956
-
13,461
-
958
-
6,436
-
4,531
-
48,066
-
200
-
16,587
-
28,530
-
2,574
-
-
-
23,507
-		 Current year
Total funds
2025
£
1,007
3,060
-
53,856
4,744
12,439
4,482
9,807
2,364
-
6,202
4,487
642
1,298
20,641
15,956
13,461
958
6,436
4,531
48,066
200
16,587
28,530
2,574
23,507		 Prior year
Total funds
2024
£
1,215
2,582
6,127
106,209
4,395
43,424
3,226
9,623
2,175
1,100
5,810
4,430
1,125
1,007
20,479
9,860
30,652
2,571
1,960
4,516
23,533
1,969
-
10,811
2,836
-
23,073
285,835
-		 285,835
285,835		 324,708
285,835
-		 324,708

28

GATEWAY MINISTRIES

Detailed analysis of income and expenditure for the year ended 31 July 2025 as required by the SORP 2015

20 Other expenditure - Governance costs

20 Other expenditure - Governance costs
Auditors fees
Accountancy fees
Total governance costs
21 Total charitable expenditure
Total direct spending
Total support costs
Total governance costs
Total charitable expenditure
22 Exceptional Items
Exceptional items
Total exceptional items		 Current year
Unrestricted
funds
Current year
Restricted
funds
2025
2025
£
£
7,200
-
6,000
-		 Current year
Total funds
2025
£
7,200
6,000
13,200
Current year
Total funds
2025
£
748,222
285,835
13,200
1,047,257
Current year
Total funds
2025
£
170
170		 Prior year
Total funds
2024
£
7,200
9,500
13,200
-		 16,700
Current year
Unrestricted
Current year
Restricted
funds
funds
2025
2025
£
£
748,222
-
285,835
-
13,200
-		 Prior year
Total funds
2024
£
704,072
324,708
16,700
1,047,257
-		 1,045,480
Current year
Current year
Unrestricted
Restricted
funds
funds
2025
2025
£
£
170
-		 Prior year
Total funds
2,024
£
6,308
170 6,308

29