Registered number: 5400985 Charlty number: 1111470 CITYGATE CHRISTIAN OUTREACH CENTRE (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CITYGATE CHRISTIAN OUTREACH CENTRE (A company Ilmlted by guarantee} CONTENTS Page Reference and admlnlstratlve detalls of the Company. its Trustees and advlsers Trustees. report Trustees, responsibilities statement Independent audltors, report on the financial statements 8-11 Consolidated statsment of flnanclal activities 12 Consolidated balance sheet 13-14 Company balance sheet 15-16 Consolldated ststement of cash flows 17 Notes to the financial statements 18-36
CITYGATE CHRISTIAN OUTREACH CENTRE IA company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Abimbola Akingbolagun Cleo Amanda St Lewis {appointed 24 May 20231 Arthur William Russell (appointed 24 May 20231 Julian Melfi {resigned 14 June 20231 Alan Samways (resigned 14 June 2023) Company registered number 5400985 Charlty registered number 1111470 Reglstered off ice 22 Rectory Road Beckenham Kent BR3 1AA Company secretsry Mellissa Whittle Independent auditors Baldwin Scofield Limited Chartered Accountants Statutory Auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU Page 1
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together wth the audf(ed financial statements of the Citygate Christian Outreach Centre (the Company) and together with its subsidiaries (the Group) for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply wth the current statLrtory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the Group and Company qualify and small under section 383 of the Companies Act 2006, the Group strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities Pollcles and obJe¢tlves The principal object of the Charity is to advance the Christian religion through worship, preaching and teaching of Christian doctrine and principles, fellowship, and the distribution of Bible teaching in all forms of media and the advancement of the Christian faith generally. The Incorporated Charity's objects are.. The advancement of the Christian religion through worship, preaching and teaching of Christian doctrine and principles, fellowship, and the distribution of Bible teaching in all of media, and the advancement of the Christian faith generally. The instruction and care of Christians including young people and children. The evangelisation of non Christians. The advancement of education on the basis of Christian principles and without prejudice to the generality of the foregoing, the provision of such education in any educational establishment. The relief of persons who are in conditions of need, hardship, poverty or distress or aged or sick. In setting objectives and planning for activrties, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefrt, including the guidance 'Public benefit: running a charrty IPB21'. Strategies for achleving objectives Citygate Christian Outreach Centre progresses these objectives directly through.. a) the running of a vibrant church communf(y. bl through the printing of materials to educate and evangelise the public and members of all ages. ¢1 providing economic relief and other assistan to persons experiencing hardships, povety or other conditions of need. Page 2
CITYGATE CHRISTIAN OUTREACH CENTRE IA company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and peiformance Revlew of activities The advance of the Christian religion through worship, preaching and teaching of Christian doctrine and principles. fellowship, and the distribution of bible teaching in all media, and the advancement of the Christian faith generally Citygate Church has had another very healthy year in every way, and this has been indicated by both Sunday attendance and membership again increasing significantly throughout the year with 219 new people registered for our "Get Connected. course (formerly known as our Growth Trackl, which is an 'lntroduction to Cf(ygate Church. four-week course. The restrictions on physical hall space has meant that we had to provide overftow rooms for people until a third Sunday Service could be started to accommodate the growng number of Sunday attendees. This third service started in February 2024 and is growing well with its own new congregation. Citygate continues to focus on the growth of the church through teaching, preaching and pastoral care of both Christians and the un-churchedlcommunity alike. During the year we started an "Alpha Course. for those investigating the Christian faith from the local community. The first course was such a Sucss, with maximum attendance, that other courses are now planned and being staffed accordingly Other courses Citygate provide are the "Financial Freedom" Course and Keys to Freedom courses. The financial freedom course, whilst not providing professional financial advice, helps people understand how to manage and budget their own finances in a healthy way. During the year 96 people attended the four-week Course. Keys to Freedom is an eight-week course for men and women separately, helping them to stand free and live life in a healthy way. Citygate Church continues to broadcast live-streamed Sunday services on the Internet which has been gratefully received by many people across London and further afield, wth it now attracting its own 'online congregation. engaged weekly Attendan at the Church services grew steadily throughout the year wrth our highest ever attendance at our Christmas and Easter events and usual Sunday Services. Our greatest challenge is our lack of space to cater for our growing numbers, but we have been actively involved with pursuing a new building we would ideally like to purchase as soon as possible, providing us with Church facilities that would meet the needs ofthe congregation and communrty for many years to come. Venue 28 Icitygate's Community facilities) has continued to go from strength to strength providing many regular community classes (dance, sport, children's clubs etc) as well as larger social events, community activities and receptions Page 3
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance Icontinuedl The instructlon and care of Chrlstians including young people and children Razzle Dazzle is Citygate's community Toddler Group, which attracts over 200 children on a weekly basis. The Group is well loved wthin the local com munity, and in addition to the three weekly sessions, hosts quiz nights and film mornings for the Parents and Carers of the children. Crtygate Kids, which operates on Sunday mornings alongside our Sunday Church seNices, has again grown and now attracts weekly around 160 children, and serves to encourage and guide the children in Citygate Church in Christian values and principles. Citygate Youth, for 11 to 18 year olds, operates on a Friday evening as a youth club for youth both in the Community and the Church, and on a Sunday morning. The evangelisation of non Christians Citygate Church continues to do what we Can to encourage people to find faith in Jesus Christ, through our in- person and online Sunday servi¢es, through relevant Church events and outreaches, and by encouraging people to be a good Christian example in their everyday lives to the people around them. The relief of persons who are in conditions of need, hardship, poverty or dlstress or aged or sick The church continues to run an initiative which provides a food bank, both perishable and non-perishable, to those most in need by partnering with the Council and local organisations. Investment policy and performance The Directors have the power to invest in such assets as they see fit. Excess funds during the year have been deposited in the Charitvs bank accounts. During previous yeais, and at the start of this financial year, excess funds had been invested for the financial Inefit of the charity. Page 4
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Going concern After maknng appropriate enquiries. the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foieseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. Reserves policy The Directors intend to reinvest funds into the development of the Church as they become available. Citygate is a growing Church with strong, stable, and committed income and a healthy net funds position. Reserve funds have previously been invested, but at the time of writing are now growing in our bank accounts as a healthy liquid reserve of at least six months. core expenses. structure, governance and management Constitution Citygate Christian Outreach Centre is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 29 June 2004. Methods of appointment or election of Trustees The management of the Group and the Company is the responsibility of the Trustees who are elected and co- opted under the terms of the Articles of Association. Organisational structure and declsion-maklng pollcles The Directors of the Company also act as Trustees for the purpose of charity law and are authorised to appoint additional Directors under the terms of the Articles of Association. The Company operates from premises in Beckenham where the main church and offices are located. Decisions are made in a¢cordance with conditions set out in the company's governing document. Policies adopted for the induction and training of Trustees New Directors are supplied with information published by the Charrty Commission on the resFJonsibilities and expectations of those appointed to charity work. Latest accounts, previous minutes and statutory information are provided and whatever interview time the new appointee requires wth other Directors or senior managers is made available Financial risk management The Trustees have assessed the major risks to which the charitylcompany is exposed, in particular those related to the operations and finances, and are satisfied that systems and prOdureS are in place to mitigate our exposure to the major risks. The Trustees have taken steps to secure legal recovery of loans made for investment purposes in previous years through a settlement agreement, the details of which are provided in note 25 to the financial statements. Page 5
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future perlods As a Church we are constantly considering how we can develop our operation and activities. The Church has continued with a successful online presence, has developed a number of workshops and courses to help people grow in their spiritual and personal lives, and regularly invests time into developing leaders for all aspects of Chur¢h life for the years to come. We are in discussions with the owners of a facility we would like to purchase, providing us with Church facilities that would meet the needs of the congregation and community for many years to come. Disclosure of information to audltois Each ofthe persons who are Trustees at the time when this Trustees, report is approved has Confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and that Trustee has taken all the step5 that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information. Auditors The auditors, Baldwin Scofield Limtted, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting ofthe Trustees. Approved by order of the members of the board of Trustees on 7 August 2024 and signed on their behalf by.. Cleo Amanda St Lewls (Chair of Trustees) Page 6
CITYGATE CHRISTIAN OUTREACH CENTRE IA company limited by guarantee) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure. for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles ofthe Charities SORP IFRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements". prepare the financial statements on the going Goncern basis unless it is inappropriate to presume that the Group will continue in txjsiness. The Trustees are responsible for keeping adequate a¢¢ounting records that are sufficient to show and explain the Group and the Company's transadions and disclose wth reasonable accuracy at any time the financial position ofthe Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 7 August 2024 and signed on its behalf by.. Cleo Amanda St Lewis (Chair of Trustees) Page 7
CITYGATE CHRISTIAN OUTREACH CENTRE IA company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CITYGATE CHRISTIAN OUTREACH CENTRE Opinion We have audited the financial statements of Citygate Christian Outreach Centre (the 'parent charitable companVI and its subsidiaries (the 'Group') for the year ended 31 March 2024 which cornprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of 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.. give a true and fair view of the state of the Group's and ofthe parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements ofthe Charities Act 2011. Basis for opinion We ¢ondu¢ted our audit in accordance wth International Standards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilities u nder those standards are further described in the Auditors, responsibilities for the audrt ofthe financial statements section of our report. We are independent of the Group 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 accordan with these requirements. We believe that the audit evidence we have obtained is suffi'cient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audits'ng the financial statements, we have concluded that the Trustees, use of the going conrn basis of a¢¢ounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the paient charitable companys ability to continue as a going concem for a period of at least 1ve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 8
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CITYGATE CHRISTIAN OUTREACH CENTRE (CONTINUED) other Information The other information comprises the information included in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 knoWedge obtained in the course of 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 this gwes rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we condude that there is a material misstatement ofthis other information, we are required to report that fa¢t. We have nothing to report in this regard. Matters on whlch we are required to report by exception We have nothing to report in respect of the followng matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion. the information given in the Trustees, report is inconsistent in any material respect with the financial statements., or the parent charitable company has not kept sufficient accounting records,. or the parent charitable company financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responslblllties 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 Group's and the parent 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 Group orthe parent charitable company or to cease operations, or have no realistic alternative bLrt to do so. Page 9
CITYGATE CHRISTIAN OUTREACH CENTRE IA company Ilmlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CITYGATE CHRISTIAN OUTREACH CENTRE ICONTINUED) Auditors, responsibilities for the audlt of the financial statements We have been appointed as auditor under section 151 of the Charities Act 2011 2nd report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance atK)ut 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 audrt conducted in accordan wrth ISAS IUKI 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 ofthese financial statements. Irregularities, including fraud, are InStanS 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. induding fraud is detailed below. We obtained an understanding of the legal and regulatory frameworks that are applicable to the Group and determined that the most significant are those that relate to the reporting framework in conformity wth the requirements of the Companies Act 2006, Charities Act 2011 and the relevant direct and indirect tax compliance regulations in the United Kingdom. We understood how Citygate Christian Outreach Centre is Complying wf(h those frameworks by making enquiries of management to understand how the Group maintains and communicates its policies and procedures in these areas and corroborated this by reviewing supporting documentation and minutes of meetings of those charged with governance. We assessed the susceptibility of the Group's financial statements to material misstatement, including how fraud might occur by considering the risk of management override to be a fraud risk. In addition, we considered the risk of management override by sam pling from the entire population of journals, identifying specific transactions which did not meet our expectations based on specific criteria and investigated these to gain an understanding and then agree back to source documentation. Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved verifying that material transactions were recorded in compliance with Financial Reporting Standards in conformrty w-rth the requirements of the Companies Act 2008, the Charities Act 2011 and the charity SORP. A further description of our responsibiltties for the audit of the financial statements Is located on the Financial Reporting Council's website at. wMw.frc.or . uklauditorsres onsibi5ities. This description forms part of our Auditors. report. Page 10
CITYGATE CHRISTIAN OUTREACH CENTRE (A Company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CITYGATE CHRISTIAN OUTREACH CENTRE ICONTINUED) Use of our report This report is made solely to the charitsble 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 requiied to state to them in an Auditors. report and for no other purpose. To the ftjllest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. Baldwin Scofield Limited Chartered Accountants statutory Audttors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU 7 August 2024 Baldwin Scofield Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page11
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total fvnds 2023 Note Income from: Donations and legacies Charitable activities 7,940 1,556.249 73,257 389,160 12,436 588 1.564.189 73.257 389.160 12.436 1.287. 364 67.4t8 290.622 2.It8 other trading activities Investments other income Total income 7,940 2,031,690 2.039,630 1,647,522 Expenditure on: Raising funds Charitable activities 321,367 1,354,676 321.367 1,354.676 339, 003 1,160,510 Total expenditure 1,676.043 1,676,043 1,499,513 Net movement in funds 7,940 355,647 363,587 148,009 Reconciliation of funds: Total funds brought forward Net movement in funds 5,481,167 355,647 5.481.167 363,587 5,333, 158 148,009 7,940 Total funds carrled forward 7,940 5,836,814 5,844.754 5.48t, 167 The Consolidated statement of financial activities includes all gains and losses recognised in the year The notes on pages 18 to 36 form part of these fi'nancial statements. Page 12
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) REGISTERED NUMBER: 5400985 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 13 5,708,969 5. 805, 451 5,708,969 5, 805,451 Current assets Debtors Cash at bank and in hand 15 689.829 1.138,968 931, 822 497, 822 1,828,797 1,429,644 Creditors.. amounts falling due within one year 16 1138,746) (156, 396) Net current assets 1,690,051 1,273,248 Totsl assets less current liabilities 7,399.020 7, 078, 699 Creditors.. amounts falling due after more than one year 17 (1,554,266 (1, 597, 532) Total net assets 5,844,754 5,481,167 Charlty funds Restricted funds Unrestricted funds 19 7.940 5.836.814 19 5,481,167 Total funds 5,844,754 5.481.167 The Company was entitled to exemption from audit under section 477 ofthe Companies Act 2006. The members have not required the entrty to obtain an audit for the year in question in accordance with section 476 ofthe Companies Act 2006. However, an audit is required in accordance wf(h section 151 ofthe Charities Act 2011. The Trustees acknOedge their responsibilities for complying wrth the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared In accordance with the provisions applicable to entities subject lo the small companies regime. Page 13
CITYGATE CHRISTIAN OUTREACH CENTRE IA company limited by guarantee) REGISTERED NUMBER: 5400985 CONSOLIDATED BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2024 The financial statements were approved and aLrthorised for issue by the Trustees on 07 August 2024 and signed on their behalf by. Cleo Amanda St Lewis (Chair of Trustees) The notes on pages 18 to 36 form part ofthese financial statements. Page 14
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) REGISTERED NUMBER: 54(H)985 COMPANY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets Investments 13 5,705,669 11 5. 801. 824 11 14 5.705.680 5. 801, 835 Current assets Debtors 15 1.005.708 1,118.469 1.311,146 482.939 Cash at bank and in hand 2,124,177 1. 794.085 Creditors.. amounts falling due wthin one year 16 {90,573) (82, 382) Net current assets 2,033,604 1, 711, 703 Total assets less current liabilities 7,739,284 7,513,538 Creditors.. amounts falling due after more than one year 17 (1,541,766) (1,575. 032) Total net assets 6,197.518 5, 938.506 Charity funds Restricted funds Unrestricted funds 19 19 6.197,518 5,938,506 Total funds 6.197.518 5.938. 506 The Company's net movement in funds for the year was r259,012 (2023- £(17.349)). The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entr(y to obtain an audit for the year in question in accordance wth section 476 of the Companies Act 2006. However, an audit is required in accordan with section 151 ofthe Charities Act 2011. The Trustees acknowledge their responsibilities for complying wtth the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordan with the provisions applicable to entities subject to the small companies regime. Page 15
CITYGATE CHRISTIAN OUTREACH CENTRE IA company Ilmlted by guarantee) REGISTERED NUMBER: 5400985 COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The financial statements were approved and authorised for issue by the Trustees on 07 August 2024 and signed on their behalf by.. Cleo Amanda St Lewis (Chair of Trustees) The notes on pages 18 to 36 form part of these financial statements. Page 16
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operatlng actlvlties Net cash from operating activities 706.426 266. 724 Cash flows from investing activities Purchase of tangible fixed assets (12,759) (44. 887) Net cash from investing activities (12,759) 144,887) Cash flows from financing activities Repayments of borrowing (52.521) (72. 944) Net cash from financing actlvlties (52,521) (72.944) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning ofthe year 641,146 148,893 497,822 348, 929 Cash and cash equivalents at the end of the year 1,138,968 497,822 The notes on pages 18 to 36 form part ofthese financial statements Page 17
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General informatlon Crtygate Christian Outreach Centre is a company limrted by guarantee incorporated in England & Wales on 22 March 2005 by under Memorandum and Articles of Association wth company registration number 05400985. Other Company information can be found on page 1. AOUntIng policies 2.1 Basls of preparation of financial statements The financial statements have been prepared in accordance with the Chaflties SORP {FRS 1021 Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Citygate Christian Outreach Centre meets the definf(ion of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwse stated in the relevant accounting policy. The consolidated statement of financial actwities {SOFAI and consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis. The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented rts own Statement of financial activities in these financial statements. 2.2 Income All income is recognised once the Group has entitlement to the income, it is probable that the income wll be received and the amount of income recewable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 18
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the bas15 of time spent, and depreciation charges allocated on the portion ofthe assevs use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes Costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group,. this is normally upon notification of the interest paid or payable by the instr(ution wth whom the funds are deposited. 2.5 Tanglble flxed assets and depreciation Tangible fixed assets costing £1,000 or more are capitalised and recognised when fLrture economic benefits are probable and the cost or value of the asset can be measured reliably. Property fixed assets are initially recognised at cost. After recognrtion, under the revaluation model, tangible fixed assets whose fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are made wth sufficient regularity to ensure that the carrying amount does not differ materially from that which would be detertnined using fair value at the end of the reporting date. Fair values are determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers. If there is no market-based evidence of fair value because of the specialised nature of the tangible fixed asset and it is rarely sold, except as part of a contributing business, the Company may need to estimate fair value using an income or depreciated replacement cost approach. Gains and losses on revaluation are recognised in the consolidated statement of financial activities. with a separate revaluation reserve being shown in the Statement of funds note. othe tangible fixed assets are initially recognised at Cost. After recognition, under the Cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All Costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Page 19
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontlnued) 2.5 Tangible fixed assets and depreciation Icontinued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases.. Freehold property Long-term leasehold property Plant and machinery Fixtures and fittings Office equipment Not depreciated Over the term of the lease 250/0 Straight line 250/0 Straight line 200A straight line 2.6 Investments Fixed asset investments are a form of financial instrument and are initia15y recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. I nvestment gains and losse5, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on investments, in the consolidated statement of financial activities. Investments in subsidiaries arè valued at cost less provision for impairment. 2.7 Debtors Trade and other debtors are reccgnised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of a¢quisrtion or opening of the deposit or similar account. 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Group anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activrties as a finance cost. 2.10 Financial instruments The Group only has financial assets and financial liabilities of a kind that quality as basic financial instruments. Basic financial instruments are initially recognised at transaction value and sutsequently measured at their settlement value wrth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 20
CITYGATE CHRISTIAN OUTREACH CENTRE IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continuedl 2.11 Pensions The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year 2.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance wth spetiC restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Donations 7,940 1,556,249 1.564,189 Unrestricted funds 2023 Total fvnds 2023 Donations 1,287.364 1.287.364 Income from charitable activities UnrestTiCted funds 2024 Total funds 2024 Income from charrtable activities - Church events 73,257 73.257 Page 21
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities (continued) Unrestricted funds 2023 Tot81 fvnds 2023 Income from charitable activities - Church events 67.418 67,418 Income from other trading activities Income from non charltable trading activities Unrestrlcted funds 2024 Total funds 2024 Charity trading income - venue rental Sales of goods at events 325,018 64,142 325.018 64,142 389,160 389,160 Unrestricted funds 2023 Total fvnds 2023 Charty trading income - venue rental Sales ofgoods at events 210,654 79,968 210,654 79, 968 290, 622 290, 622 Page 22
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Investment income 12,159 277 12,159 277 Interest receivable 12,436 12,436 Unrestricted funds 2023 Total funds 2023 Investment income Interest receivable 1.937 t81 1,93T 181 2,118 2.t18 Other incoming resources Unrestricted funds 2024 Total funds 2024 Total fvnd8 2023 Other operating income 588 588 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Charitable activities 1,354,676 1,354,676 Page 23
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expenditure on charitable activities (contlnued) Summary by fund type {continued) Unrestricted funds 2023 Total 2023 Charitable activities 1,160,510 1,160.510 Analysis of expendlture by a¢tlvltles Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Charitable activities 442,461 912,215 1.354,676 Activities undertaken directly 2023 Support costs 2023 Total ftinds 2023 Charitable activities 331,460 829, 050 1,160,510 Page 24
CITYGATE CHRISTIAN OUTREACH CENTRE (A company Ilmlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of 8XP8nditure by actlvltles (contlnued) Analysis of direct costs Church operations 2024 Total funds 2024 Church hosting Premises costs Ministry and pastoral costs Media costs Studio costs Camp and conference costs Youth and children's work Giving 92,057 172,137 89,747 18.262 921 3,235 23,018 43.084 92,057 172,137 89,747 18,262 921 3,235 23.018 43.084 442,461 442,461 Church operations 2023 Total funds 2023 Church hosting Premises costs Ministy and pastoral costs Media costs Studio costs Camp and conference costs Giving 100, 128 81,086 94,101 24, 125 3,172 2,268 26.580 100.128 81.086 94.101 24, 125 3,172 2.268 26,580 331.460 331.460 Page 25
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendlture by activities (continued) Analysis of support costs Support actlvltles 2024 Total funds 2024 Staff costs Depreciation Printing. post and stationery Insurance Telephone and internet Computer costs Professional fees Bank and cardnet charges Bank interest Other expenses 504,351 107,874 8,054 18,683 13,820 2,240 74,057 39,277 122,732 23,327 504,351 107,674 8.054 16.683 13,820 2,240 74.057 39,277 122,732 23,327 912,215 912.215 Support activities 2023 Total funds 2023 Staff costs Depreaation Printing, post and stationery Insurance Telephone and internet Computer costs Professional fees Bank and cardnet charges Bank interest Other expenses 444, 738 105,378 5, 302 15,443 12,360 8,575 99, 594 35, 459 82,398 19,803 444. 738 105,378 5,302 15,443 12,360 8,575 99,594 35,459 82,398 19,803 829, 050 829,050 Page 26
CITYGATE CHRISTIAN OUTREACH CENTRE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Auditors. remuneration 2024 2023 Fees payable to the Companys auditor for the audit of the Company's annual accounts 8,700 8, 500 staff costs Group 2024 Group 2023 Company 2024 Company 2023 Wages and salaries Social securrty costs ContribLrtion to defined contribution pension schemes 516,302 47,065 473, 996 48,632 437,620 40,036 380,842 39,371 31,679 26.851 26,695 24, 525 59S,046 549,479 504,351 444, 738 The average number of persons employed by the Company during the year was as follows.. Group 2024 Group 2023 Company 2024 Company 2023 No. Church and administration Venue hire operations 13 11 13 11 16 18 13 The number of employees {see details below) whose employee benefi'ts {excluding employer pension costs) exceeded £60,000 was.. Group 2024 No. Group 2023 In the band £100,001-£110,000 Julian Melfi, a trustee until 14 June 2023, and his wife Sharon are both employed as pastors of the church. Their total remuneration including salary, rent and utilities on the manse provided come to a total of £106,58012023.' £107,776) which has been disclosed in the banding above. The pension contribution is £14,40012023- £14,400) per annum. 12. Trustees. remuneration and expenses During the year, no Trustees other than those disclosed above in note 10 reiVed any remuneration or other benefits (2023 - £NIL). Page 27
CITYGATE CHRISTIAN OUTREACH CENTRE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Trustees, remuneration and expenses (continued) During the year ended 31 March 2024, expenses totalling £NIL were reimbursed or paid directly to Trustee (2023 - £14, 707 to l Trustee). Last year these were charitable expenses incurred by the trustee on behalf of the charity in respect of travel and subsistence costs and reimbursed accordingly. 13. Tangible fixed assets Group Long-term Freehold leasehold Plant and Fixtures Office property property machinery and fittings equipment Total Cost or valvatlon At 1 April 2023 Additions 5,220,000 808,872 226.049 9.087 210,475 2,432 3,687 6.469.083 1,240 12.759 At 31 March 2024 5,220,000 808.872 235,136 212.907 4,927 6,481,842 Depreciation At 1 April 2023 Charge for the year 354,571 40.442 127,978 54,304 178,203 13,868 2,880 627 663,632 109,241 At 31 March 2024 395,013 182,282 192,071 3,507 772,873 Net book value At 31 March 2024 5,220.000 413.859 52.854 20,836 1.420 5.708.969 At 31 March 2023 5.220, 000 454,301 98.071 32,272 807 5. 805.451 Company Long-term leasehold property Freehold pioperty Plant and Fixtures and machinery fittings Total Cost or valuation At 1 April 2023 Additions 5.220,000 808,872 226.049 9,087 205,775 2,432 6.460.696 11.519 At 31 March 2024 5,220,000 808,872 235.136 208,207 6,472.215 Page 28
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Tanglble fixed assets {continued) Company (continued) Long-term leasehold property Freehold property Plant and Fixtures and machinery fittings Total Depreciation At 1 April 2023 Charge for the year 354.571 40.442 127,978 54,304 176,323 12.928 658,872 107,674 At 31 March 2024 395,013 182,282 189,251 766,546 Net book value At 31 March 2024 5,220.000 413,859 52,854 18.956 5.705,669 At 31 March 2023 5,220.000 454. 301 98,071 29, 452 5. 801, 824 The properties owned by the charity were revalued by Michael Yianni MRICS and Zain Ahmad MRICS for and on behalf of Belleveue Mortlakes, Chartered Surveyors on 21 June 2021. The directorsrtrustees of the Charity are of the opinion that the valuation is not materially different to the market value at 31 March 2024. The Group has adopted a policy of revaluation for tangible fixed assets. Had these assets been measured at historic cost, the carrying valLses would have been as follows.. Group 2024 Group 2023 Company 2024 Company 2023 Freehold property Accumulated depreciation 3,544,835 (820,888) 3, 544, 835 (749, 991) 3,544,835 1820,888) 3. 544, 835 (749, 991) 2,723,947 2, 794, 844 2,723,947 2, 794, 844 Page 29
CITYGATE CHRISTIAN OUTREACH CENTRE IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Fixed asset investments Investments in subsidiary companies Company Cost or valuation At 1 April 2023 11 At 31 March 2024 11 Net book value At 31 March 2024 11 At 31 March 2023 11 Principal subsidiaries The following were subsidiary undertakings ofthe Company.. Names Company number Registered office or principal Principal activity place of business V28 Ltd 10081260 22 Rectory Road, Beckenham, Kent, BR3 1JA 22 Rectory Road, Beckenham, Kent, BR3 1JA Letting operations Citygate Property Holdings Ltd 09817830 Developing building projects Class of shares Holdlng Included in consolidation Ordinary 100% Yes Ordinary 100% Yes The financial results of the subsidiaries for the year were.. Names Income Expenditure Profitl{Loss) I Surplusj (Deficit) for the year Net assets V28 Ltd Ctygate Property Holdings Ltd 389,437 36,505 (321,283) (84) 68.154 36.421 1353.021) 268 Page 30
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Debtors Group 2024 Group 2023 Company 2024 Company 2023 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 13.622 9.908 2.601 326,900 657.121 19.086 390. 834 920,312 657.121 19.086 92t.gt4 689,829 931.822 1.005.708 1.311,146 Included within other debtors due within one year is a loan to an individual amounting to £635,450 (2023- £915,450). The main conditions are as follows.. The loan was repayble on 60 days notice, bearing interest at 100h per annum and unsecured. In 2022 noti to repay the loan was given and the individual was unable to repay the loan on 60 days notice. Iln November 2023, the charity and the individual entered into a settlement agreement with respect to the outstanding amounts and the interest that will accrue to the loans. The settlement agreement provides for a second charge on assets owned by company's controlled by the individual and sets out repayment terms. As at the date of thB report, sums amounting to £582,340 (2023.. £240,000) have been repaid and the terms of the settlement agreement have been kept. As a result. the trustees are of the opinion, wth which the auditors concur, that the loan will be repaid in accordance with the settlement agreement by 31 October 2024. The charitvs total exposure to amounts that may be non-recoverable totals £333,110 12023.. £675,450) at the date of the approval ofthese financial statements. 16. Creditors: Amounts falling due within one year Group 2024 Gn)up 2023 Company 2024 Company 2023 Bank loans other loans 52,522 232 61.777 42.522 232 51.777 Trade creditors 28,432 18.584 9,946 16.727 12.303 16.394 56.231 4.117 9,817 8,000 17,883 10.874 7,718 8. 839 9.649 4,117 othertaxation and social security Pension contributions payable other creditors Accruals and deferred income 11,344 138,746 156,396 90,573 82, 382 The mortgage loans are secured on the charity's freehold properties at 22 Rectory Road, Beckenham, BR3 1AA and 2 Beckenham Road, Beckenham, BR3 4LR. Page 31
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Credltors: Amounts falling due after more than one year Group 2024 Group 2023 Company 2024 Company 2023 Bank loans 1,554,266 1.597. 532 1,541,766 1.575, 032 Included within the above are amounts falling due as follows: Group 2024 Group 2023 Company 2024 Company 2023 Between one and two years Bank loans 55,021 61,777 42.521 51,777 Between two and five years Bank loans 100,063 150,332 100,063 137,832 Over five years Bank loans 1,399,182 1,385,423 1,399,182 1,385,423 The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is. Group 2024 Group 2023 Company 2024 Company 2023 Payable or repayable by instalments 1.399.182 1,385,423 1,399,182 1,385, 423 1.399,182 1,385,423 1,399,182 1.385,423 The mortgage loans are secured on the charitls freehold properties at 22 Rectory Road, Beckenham, BR3 1AA and 2 Be¢kenham Road, Beckenham, BR3 4LR. 18. Flnancial instruments Group 2024 Group 2023 Company 2024 Company 2023 Flnanclal assets Financial assets measured at fair value through income and expenditure 1,138,968 497.822 1,118,469 482,939 Financial assets measured at fair value through income and expenditure c£Jmprise balances held at bank. Page 32
CITYGATE CHRISTIAN OUTREACH CENTRE (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ststement of funds statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrestricted funds General fund 5.938.507 (457.340) 1.605,748 425,942 (1,354,676) {321,367) 6,189.579 1352.765) Subsidiary reserves 5,481,167 2,031,690 {1,676,043) 5.836,814 Restricted funds Building fund 7,940 7,940 Total of funds 5.481,167 2,039,630 (1,676,043) 5,844,754 ststement of funds - prior year Balance at 31 March 2023 Balan at 1 April 2022 Income Expenditure Unrestricted funds General fund Subsidiary reserves 5.955. 856 (622. 698) 1, 143,342 (1, 160,691) 504, 180 (338, 822) 5, 938, 507 (457,340) 5,333, 158 1.647.522 (1.499,513) 5,481. 167 Restricted funds Building fund - The building fund has been established to accumulate funds for the purpose of buying additional premises for the use of the charity. Page 33
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Summary of funds Summary of funds - current yeai Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure General funds 5,481,167 2,031,690 (1,676,043) 7,940 5,836,814 7,940 Restricted funds 5.481.167 2,039,630 (1,676.043} 5,844,754 Summary of funds - prlor year Balance at 31 March 2023 Balan at 1 April 2022 Income Expenditure General funds 5,333, 158 1,647,522 (1,499,5t3) 5,481, 167 21 . Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 5,708,969 5,708,969 1,820,857 1,828,797 1138,7461 {138,7461 (1,554,266) (1,554,266) 7,940 Total 7,940 5,836,814 5,844,754 Page 34
CITYGATE CHRISTIAN OUTREACH CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Analysls of net assets between funds (continued) Analysls of net assets between funds - prior period Unrestricted funds 2023 Total ftinds 2023 Tangible fixed assets Current assets Creditors due wthin one year Creditors due in more than one year 5, 805.451 5, 805.451 1.429. 644 1.429.644 (156.396) (156. 396) (1.597. 532) (1.597. 532) Total 5,481. 167 5.481. 167 22. Reconciliation of net movement in funds to net cash flow from operating activities Group 2024 Group 2023 Net income for the period las per Statement of Financial Activities) 363,587 148,009 Adjustments for: Depreciation charges Decrease in debtors Decrease in creditors 109,241 241,993 (8.395) 106.808 28. 082 (16.175) Net cash provided by operating activities 706,426 266, 724 23. Analysis of cash and cash equivalents Group 2024 Group 2023 Cash in hand 1.138.968 497. 822 Total cash and cash equivalents 1,138.968 497. 822 Page 35
CITYGATE CHRISTIAN OUTREACH CENTRE (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Analysis of changes in net debt At 1 Aprll 2023 Cash flows At 31 March 2024 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 497,822 165.8941 {1,597.5321 641,146 1,138,968 3,194 (62,7001 43,266 (1,554,266) (1,165,604) 687,606 (477,9981 25. Pension commitments The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £31,679 12023 £26,851) Pension ContritiOnS of £9,948 12023= £4,177) were payable to the fund at the balance sheet date and are included in creditors. Page 36