THE NARROW GATE PROJECT
FINANCIAL STATEMENTS
AS AT 31.03.2024
Charity number: 1115530
THE NARROW GATE PROJECT
| CONTENT PAGE | PAGE |
|---|---|
| Charity details | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Account | 4 to 5 |
THE NARROW GATE PROJECT
CHARITY INFORMATION
| Trustees | Mr Ebenezer O Mogaji (Chair) |
|---|---|
| Mr Ademola Adebayo | |
| Mrs Foluke O Mogaji | |
| Registered number | 1115530 |
| Registered Address | 32 Capel Road |
| Enfield | |
| EN1 4SP | |
| Independent Examiner | Fleet & Smith |
| Chartered Certified Accountants |
1
THE NARR0W GATE PROJECT Statement of Financial Activities
As at 31 March, 2024
| THE NARR0W GATE PROJECT Statement of Financial Activities As at 31 March, 2024 |
|||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | ||||||
| NOTES | Unrestricted | Restricted | Total | **Unrestricted ** | Restricted | Total | |
| £ | £ | £ | £ | £ | £ | ||
| INCOME | |||||||
| Charitable Donations | 20,701 | - | 20,701 | 29,796 | - | 29,796 | |
| Other Donations | 49,394 | 7,442 | 56,836 | 31,742 | 9,218 | 40,960 | |
| TOTAL CHARITABLE INCOME | 7 | 70,095 | 7,442 | 77,537 | 61,538 | 9,218 | 70,756 |
| EXPENDITURE | |||||||
| Charitable activities | 1 | 6,802 | - | 6,802 | 8,357 | - | 8,357 |
| Other Charitable Expenses | 2 | 73,408 | - | 73,408 | 60,244 | - | 60,244 |
| TOTAL EXPENDITURE | 80,210 | 80,210 | 68,601 | - | 68,601 | ||
| NET | (10,115) | 7,442 | (2,673) | (7,063) | 9,218 | 2,155 | |
| Balance b/fwd | 10,151 | 9,218 | 19,369 | 17,214 | - | 17,214 | |
| Balance c/fwd | 36 | 16,660 | 16,696 | 10,151 | 9,218 | 19,369 |
2
THE NARR0W GATE PROJECT
Balance Sheet
As at 31 March, 2024
| Notes Fixed Assets 5 Current Assets Cash/Bank Current Liabilities Other creditors 6 Net Current Assets Total Net Assets General Funds Designated Funds |
31.03.24 31.03.24 £ £ 7,465 11,597 2,366 9,231 16,696 16,696 - 16,696 |
31.03.23 31.03.23 £ £ 10,524 19,163 1,100 18,063 28,587 19,369 9,218 28,587 |
|---|---|---|
3
THE NARR0W GATE PROJECT
Notes to the Accounts - Year End 31.03.24
| 1. Expenditure on Charitable activities | 31.3.24 | 31.3.23 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| £ | £ | £ | £ | £ | £ | |
| Outreach Activities | ||||||
| Charitable Donations | 6,802 | 6,802 | 6,979 | 6,979 | ||
| Other Donations | - | |||||
| ER Social Contribution | 1,378 | 1,378 | ||||
| 6,802 | 6,802 | 8,357 | 8,357 | |||
| 2. Other expenditure | 31.3.24 | 31.3.23 | ||||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| £ | £ | £ | £ | £ | £ | |
| Employee Costs | 34,886 | 34,886 | 41,479 | 41,479 | ||
| Motor and travel costs | 1,643 | 1,643 | 1,873 | 1,873 | ||
| Premised costs | 9,676 | 9,676 | 8,900 | 8,900 | ||
| Amortisation, depreciation, impairment | 5,163 | 5,163 | 3,962 | 3,962 | ||
| General Administrative costs | 6,559 | 6,559 | 2,944 | 2,944 | ||
| Professional costs | 480 | 480 | 1,086 | 1,086 | ||
| Other* | 15,000 | 15,000 | - | - | ||
| 73,408 | 73,408 | 60,244 | 60,244 | |||
| * Other, represents ringfenced funds (income) for church organ purchase. | ||||||
| 3. Net income before transfers | 31.3.24 | 31.3.23 | ||||
| £ | £ | £ | £ | |||
| This is stated after charging: | ||||||
| Depreciation of owned fixed assets | 5,163 | 5,163 | 3,962 | 3,962 | ||
| 4. Staff costs | ||||||
| Salaries and wages | 30,151 | 30,151 | 34,738 | 34,738 | ||
| Social security costs | 4,735 | 4,735 | 6,547 | 6,547 | ||
| Pension costs | - | - | 194 | 194 | ||
| 34,886 | 34,886 | 41,479 | 41,479 |
4
5. Fixed Assets 31.3.24
| 5. Fixed Assets 31.3.24 | ||||
|---|---|---|---|---|
| Computer | Other | |||
| Vehicle | Equipment | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost as at 1.4.23 | 15,000 | 1,943 | 2,793 | 19,736 |
| Additions | - | 2,104 | 2,104 | |
| Total as at 31.3.24 | 15,000 | 1,943 | 4,897 | 21,840 |
| Aggregate Depreciation as at 1.4.23 | 8,250 | 378 | 585 | 9,211 |
| Depreciation for the year | 3,000 | 648 | 1,516 | 5,164 |
| Total depreciation | 11,250 | 1,026 | 2,100 | 14,375 |
| Net as at 31 March 2024 | 3,750 | 918 | 2,797 | 7,466 |
| Fixed Assets 31.3.23 |
| Assets 31.3.23 | ||||
|---|---|---|---|---|
| Computer | Other | |||
| Vehicle | Equipment | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost as at 1.4.22 | 15,000 | - | - | 15,000 |
| Additions | - | 1,943 | 2,793 | 4,736 |
| Total as at 31.3.23 | 15,000 | 1,943 | 2,793 | 19,736 |
| Aggregate Depreciation as at 1.4.22 | 5,250 | - | - | 5,250 |
| Depreciation for the year | 3,000 | 378 | 584 | 3,962 |
| Total depreciation | 8,250 | 378 | 584 | 9,212 |
| Net as at 31 March 2023 | 6,750 | 1,565 | 2,209 | 10,524 |
| ors: | ||||
| falling due within one year | ||||
| 31.3.24 | 31.3.23 | |||
| £ | £ | |||
| Other creditors* | 2,366 | 1,100 | ||
| 2,366 | 1,100 | |||
| *Included in other creditors is an amount of £180 for Independent | Examiners fees for the | current year under | review. |
6. Creditors:
amounts falling due within one year
| 7. Income : | 31.3.24 | 31.3.23 |
|---|---|---|
| General work contributions | 35,250 | 40,700 |
| Church Bus donations and weekend away deposits | 4,926 | 260 |
| Organ donations * | 16,660 | - |
| Charitable donations | 20,701 | 29,796 |
| 77,537 | 70,756 | |
| *Purchase of Organ for CAC Great Britain and related expenses | 16,660 |
5
THE NARROW GATE PROJECT
FINANCIAL STATEMENTS
AS AT 31.03.2024
Charity number: 1115530
THE NARROW GATE PROJECT
| CONTENT PAGE | PAGE |
|---|---|
| Charity details | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Account | 4 to 5 |
THE NARROW GATE PROJECT
CHARITY INFORMATION
| Trustees | Mr Ebenezer O Mogaji (Chair) |
|---|---|
| Mr Ademola Adebayo | |
| Mrs Foluke O Mogaji | |
| Registered number | 1115530 |
| Registered Address | 32 Capel Road |
| Enfield | |
| EN1 4SP | |
| Independent Examiner | Fleet & Smith |
| Chartered Certified Accountants |
1
THE NARR0W GATE PROJECT Statement of Financial Activities
As at 31 March, 2024
| THE NARR0W GATE PROJECT Statement of Financial Activities As at 31 March, 2024 |
|||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | ||||||
| NOTES | Unrestricted | Restricted | Total | **Unrestricted ** | Restricted | Total | |
| £ | £ | £ | £ | £ | £ | ||
| INCOME | |||||||
| Charitable Donations | 20,701 | - | 20,701 | 29,796 | - | 29,796 | |
| Other Donations | 49,394 | 7,442 | 56,836 | 31,742 | 9,218 | 40,960 | |
| TOTAL CHARITABLE INCOME | 7 | 70,095 | 7,442 | 77,537 | 61,538 | 9,218 | 70,756 |
| EXPENDITURE | |||||||
| Charitable activities | 1 | 6,802 | - | 6,802 | 8,357 | - | 8,357 |
| Other Charitable Expenses | 2 | 73,408 | - | 73,408 | 60,244 | - | 60,244 |
| TOTAL EXPENDITURE | 80,210 | 80,210 | 68,601 | - | 68,601 | ||
| NET | (10,115) | 7,442 | (2,673) | (7,063) | 9,218 | 2,155 | |
| Balance b/fwd | 10,151 | 9,218 | 19,369 | 17,214 | - | 17,214 | |
| Balance c/fwd | 36 | 16,660 | 16,696 | 10,151 | 9,218 | 19,369 |
2
THE NARR0W GATE PROJECT
Balance Sheet
As at 31 March, 2024
| Notes Fixed Assets 5 Current Assets Cash/Bank Current Liabilities Other creditors 6 Net Current Assets Total Net Assets General Funds Designated Funds |
31.03.24 31.03.24 £ £ 7,465 11,597 2,366 9,231 16,696 16,696 - 16,696 |
31.03.23 31.03.23 £ £ 10,524 19,163 1,100 18,063 28,587 19,369 9,218 28,587 |
|---|---|---|
3
THE NARR0W GATE PROJECT
Notes to the Accounts - Year End 31.03.24
| 1. Expenditure on Charitable activities | 31.3.24 | 31.3.23 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| £ | £ | £ | £ | £ | £ | |
| Outreach Activities | ||||||
| Charitable Donations | 6,802 | 6,802 | 6,979 | 6,979 | ||
| Other Donations | - | |||||
| ER Social Contribution | 1,378 | 1,378 | ||||
| 6,802 | 6,802 | 8,357 | 8,357 | |||
| 2. Other expenditure | 31.3.24 | 31.3.23 | ||||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| £ | £ | £ | £ | £ | £ | |
| Employee Costs | 34,886 | 34,886 | 41,479 | 41,479 | ||
| Motor and travel costs | 1,643 | 1,643 | 1,873 | 1,873 | ||
| Premised costs | 9,676 | 9,676 | 8,900 | 8,900 | ||
| Amortisation, depreciation, impairment | 5,163 | 5,163 | 3,962 | 3,962 | ||
| General Administrative costs | 6,559 | 6,559 | 2,944 | 2,944 | ||
| Professional costs | 480 | 480 | 1,086 | 1,086 | ||
| Other* | 15,000 | 15,000 | - | - | ||
| 73,408 | 73,408 | 60,244 | 60,244 | |||
| * Other, represents ringfenced funds (income) for church organ purchase. | ||||||
| 3. Net income before transfers | 31.3.24 | 31.3.23 | ||||
| £ | £ | £ | £ | |||
| This is stated after charging: | ||||||
| Depreciation of owned fixed assets | 5,163 | 5,163 | 3,962 | 3,962 | ||
| 4. Staff costs | ||||||
| Salaries and wages | 30,151 | 30,151 | 34,738 | 34,738 | ||
| Social security costs | 4,735 | 4,735 | 6,547 | 6,547 | ||
| Pension costs | - | - | 194 | 194 | ||
| 34,886 | 34,886 | 41,479 | 41,479 |
4
5. Fixed Assets 31.3.24
| 5. Fixed Assets 31.3.24 | ||||
|---|---|---|---|---|
| Computer | Other | |||
| Vehicle | Equipment | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost as at 1.4.23 | 15,000 | 1,943 | 2,793 | 19,736 |
| Additions | - | 2,104 | 2,104 | |
| Total as at 31.3.24 | 15,000 | 1,943 | 4,897 | 21,840 |
| Aggregate Depreciation as at 1.4.23 | 8,250 | 378 | 585 | 9,211 |
| Depreciation for the year | 3,000 | 648 | 1,516 | 5,164 |
| Total depreciation | 11,250 | 1,026 | 2,100 | 14,375 |
| Net as at 31 March 2024 | 3,750 | 918 | 2,797 | 7,466 |
| Fixed Assets 31.3.23 |
| Assets 31.3.23 | ||||
|---|---|---|---|---|
| Computer | Other | |||
| Vehicle | Equipment | Equipment | Total | |
| £ | £ | £ | £ | |
| Cost as at 1.4.22 | 15,000 | - | - | 15,000 |
| Additions | - | 1,943 | 2,793 | 4,736 |
| Total as at 31.3.23 | 15,000 | 1,943 | 2,793 | 19,736 |
| Aggregate Depreciation as at 1.4.22 | 5,250 | - | - | 5,250 |
| Depreciation for the year | 3,000 | 378 | 584 | 3,962 |
| Total depreciation | 8,250 | 378 | 584 | 9,212 |
| Net as at 31 March 2023 | 6,750 | 1,565 | 2,209 | 10,524 |
| ors: | ||||
| falling due within one year | ||||
| 31.3.24 | 31.3.23 | |||
| £ | £ | |||
| Other creditors* | 2,366 | 1,100 | ||
| 2,366 | 1,100 | |||
| *Included in other creditors is an amount of £180 for Independent | Examiners fees for the | current year under | review. |
6. Creditors:
amounts falling due within one year
| 7. Income : | 31.3.24 | 31.3.23 |
|---|---|---|
| General work contributions | 35,250 | 40,700 |
| Church Bus donations and weekend away deposits | 4,926 | 260 |
| Organ donations * | 16,660 | - |
| Charitable donations | 20,701 | 29,796 |
| 77,537 | 70,756 | |
| *Purchase of Organ for CAC Great Britain and related expenses | 16,660 |
5
EN11 (j Phono: 019W2874397 for the y•ar •nd•d 31st 11ah >)X PROJECT Y fThled 31st 24. not thls (JwtsesAd 2011. s144(2) (the 2011 Ad) *MI that the Charity sPAal( 145(5Xb) of theA other than any fqUIr that the accounts e a arKI VI lch is not a 'ct Falegan FCCA M ACCA Fleet & Smilh Chartered certi A(xountants