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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 05977250 (England and Wales) REGISTERED CHARITY NUMBER: 1116962

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Gateway Fareham Ltd

Johnston Wood Roach Limited 24 Picton House Hussar Court Waterlooville Hampshire PO7 7SQ

Gateway Fareham Ltd

Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Report of the Trustees 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Notes to the Financial Statements 12 to 23
Detailed Statement of Financial Activities 24 to 25

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims Review of the year

As we have completed our first full year under our new church name of Gateway Church Fareham under the leadership of Senior Pastors Tim and Danni Lockwood and Site Pastors Martin and Gabi Doyle, we have continued to see growth in both the attendance to the church and in our outreach and activities to the local community.

We are grateful for the time and dedication of the church staff, Leadership Team and our volunteers who have enabled the Charity to fulfil its charitable objectives during the year.

The Trustees are happy that the charity has continued to meet the objectives of the charity.

Objectives of the charity

The Charity is governed by a Memorandum and Articles of Association, in which its objectives are set out. The Charity has continued to proclaim and teach the Christian Gospel and care for people in the community of Fareham in line with our charitable Objects.

Objectives:

The policy of the Charity continues to be to seek financial support to continue to pursue the objectives above. When planning the activities for the year, the Trustees have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

Page 1

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2023

OBJECTIVES AND ACTIVITIES Significant activities Activities & Performance

In 2022 and into 2023, the church has continued to grow and increase our paid staff. We have seen a steady stream of newcomers joining us at our Sunday meetings. We also continue to see regular use of our building by local organisations, which provides valuable income to the financial health of the charity.

Even though we saw churn on our church attendance and therefore financial giving, we in turn saw that with newcomers and new giving we maintained a surplus monthly budget and overall maintained a healthy financial balance sheet. As a result, we have continued to explore new ways of serving and reaching out to our local community and seeking to advance the Christian faith. We have also maintained our weekly online presence by live streaming our Sunday morning meetings.

As we continued to develop our wider church activities, we took the opportunity to employ a part time Youth Worker and Children's Worker. Both positions had previously been fulfilled by volunteers and the Trustees felt it the right time to recognise the time and effort put in and make these two new paid positions.

In the latter part of the year our Operations Manager and Finance Administrator gave notice of their intention to step down from their employment with the charity. These resignations took place while we were doing an independent business review of the church's operations, so we took the opportunity to review the structure of the office and church administration activities. While these changes were not completed in this financial year, we took the decision to employ a part time Operations Manager role and outsource our financial admin to a third-party company. This has enabled us to streamline some of the administration activities and make more efficient use of our finances to the front-line activities of the charity.

We see this review and the employment changes an initial step towards modernising how we operate as a charity and making better use of the resources available to us.

To highlight the hard work and dedication of our staff and volunteers in their work for the charity, some of the church activities are listed below:

Our newly established Gateway Academy has run three courses during the year, aimed at introducing and advancing the Christian faith: the Alpha Course, Freedom in Christ and the Experiencing God course.

In addition to Sunday morning kids church, a wide range of activities have been provided by our Children's worker; these include 'Praise Parties', a family picnic in the woods, games at the local leisure centre and a summer holiday club. New initiatives this year include a weekly music session for preschool children called Music Makers and the craft based 'Messy Church'.

A group of between 10 and 15 youth met most Sunday mornings for sessions that included bible studies, worship and games. In addition, a group of 6 to 10 young people met together on Friday nights for 'Chill Church' socials and activities such as an 'Adventure bonfire', Christmas sleepover, pizza making night, games and worship evenings. The group also took part in High Tide youth events organised through 'Churches together in Fareham', hosting 2 of the sessions.

During the course of the year, we have continued to hold joint events with the Gateway Waterside church. These include several joint Sunday morning services with a guest speaker, ladies' breakfasts, a pastors retreat and regular young adults' socials.

Although the church is highly dependent on its volunteers to fulfil these objectives the total value of the volunteer's input has not been quantified.

Page 2

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2023

OBJECTIVES AND ACTIVITIES

We are continuing to support a range of local, national and international charities which include:

Alongside the regular church meetings and activities, we continue to support community events throughout the year and opened the Foyer area of the building at Easter, Remembrance Sunday & the Fareham Christmas Light Switch On event, providing drinks and snacks to people attending events or passing by the building. We also used the main hall to run a joint churches Children's week during the school summer holidays. We have also started to run youth events during the evenings to provide a place where they can hang out and build relationships together.

As we look to the future, we continue to explore ways to utilise the building for church-based and community-based activities, bringing the two together and demonstrating the love of Christ to Fareham and wider communities.

FINANCIAL REVIEW

Investment policy and objectives

In order to guide the investment strategy the board of Trustees has adopted the following objectives:

Income and Reserves

Operational income for the year was £203,620 (2022: £209,415), derived from donations, and room hire income. This represents an decrease of £5,795 compared to the previous year. Recovery from lockdown restrictions the previous year and the ongoing impact of coming out of the pandemic has seen a stabilisation of room hire, albeit at a lower level of activity compared to pre-pandemic. We don't anticipate that we will return to pre-pandemic levels of income room hire, however, we see this as an opportunity to release the building for further church-based and community activities.

The trustees are happy that the charity has come through this year on a sound financial footing and have maintained our reserves in accordance with our reserves policy.

Reserves policy

The charity held unrestricted reserves of £528,809 and restricted reserves of £79,221 at 31 March 2023

The Trustees have resolved to establish reserves to provide for future activities and to mitigate future risks. The Trustees wide powers of investment are carried out within the context of the statement of investment principles set out above. The policy on reserves is that the existing assets are retained to produce income, which is wholly utilised to support existing activities. A minimum level of reserves is set at two months' worth of expenses.

Page 3

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2023

FINANCIAL REVIEW Property

The King's Centre , the home of Fareham Community Church, is a large, two-story mortgaged premises on one of the shopping streets of Fareham. The building is a source of rental income but also provides public benefit by the provision of meeting space at a subsidised rate to organisations with similar objectives.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is a Company limited by guarantee as defined by the Companies Act 2006. It was formed under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.

In the event of winding up, Members of the charity will be required to contribute up to a maximum of £10 each.

Recruitment and appointment of new trustees

New Trustees can be recommended by both the Leadership Team and the Board of Trustees and are appointed by the Trustees. There are no third parties who can appoint Trustees. Trustees are required to agree with the Statement of Faith set out in the Memorandum of Association. New Trustees are appointed where they have the necessary skills to contribute to the charity's management and development. When new Trustees are appointed, they are given an introduction to the work of the Trustees and provided with a copy of the 'Essential Trustee' brochure. They are also provided with additional training opportunities during the year.

Page 4

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

Trustees

The Board of Trustees consists of members of Gateway Church Fareham. The Articles of Association allows one paid employee to be a Trustee, providing that paid member is employed as an elder of the church, although any such trustee shall not be involved in discussions involving staff salaries or other benefits. During this financial year there were no paid employees on the Board of Trustees.

The Trustees are responsible for overseeing the Charity side of the life and work of the church. In addition to their statutory duties, the Trustees are responsible for ensuring that:

There is no fixed term for a trustee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Zita Derbak Simon Fenner Fran Gouldstone Rob Snelling

The Trustees meet regularly during the year but delegate the day-to-day responsibility for administering the activities of the charity to the church Leadership Team, church workers and office administration staff. The Leadership Team are also responsible for overseeing and managing the charity's employees and liaising with others to whom the Trustees have contracted to undertake various projects and initiatives.

The pay of the staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the Trustees benchmark against pay levels in other charities of similar size.

Page 5

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees of the charity are satisfied that the systems are in place to mitigate exposure to the major risks, which have been identified as follows:

The following framework is central to ensuring adequate risk assurance:

In assessing risk the Trustees recognise that some areas of the Charity's work requires the acceptance and management of risk if the Charity's key objectives are to be achieved.

Safeguarding procedures and policies are in place and training provided for all staff and volunteers. There is a robust safer recruiting procedure in operation for all posts and volunteer roles. There is an annual safeguarding review. The safeguarding policy is publicly available.

Procedures and policies are in place and training is provided to ensure risk is minimised and compliance with health and safety to staff, volunteers, clients and visitors to the church's meetings and activities.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05977250 (England and Wales)

Registered Charity number

1116962

Registered office

24 Picton House Hussar Court Waterlooville Hampshire PO7 7SQ

Trustees

F A Gouldstone Lsa E J Tutte Project Manager (resigned 17.10.22) Z Derbak Senior finance officer S Fenner Pre sales technical marketing manager R Snelling Retired G Hammett (appointed 17.9.23) P Hillier (appointed 2.10.23)

Page 6

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2023

REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner

Kate Wood Johnston Wood Roach Limited 24 Picton House Hussar Court Waterlooville Hampshire PO7 7SQ

Senior Leaders

Tim and Danni Lockwood.

Bankers

Lloyds TSB Bank plc 43 West Street Fareham Hampshire PO16 0BE

Approved by order of the board of trustees on 10 December 2023 and signed on its behalf by:

F A Gouldstone - Trustee

Page 7

Independent Examiner's Report to the Trustees of Gateway Fareham Ltd

Independent examiner's report to the trustees of Gateway Fareham Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Kate Wood

Johnston Wood Roach Limited 24 Picton House Hussar Court Waterlooville Hampshire PO7 7SQ

12 December 2023

Page 8

Gateway Fareham Ltd

Statement of Financial Activities for the Year Ended 31 March 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
151,322
Other trading activities
3
30,095
Total
181,417
EXPENDITURE ON
Charitable activities
4
Regular church activities and ministry
145,388
Support for the needy
2,303
Overseas mission
23,347
Support costs
656
Total
171,694
NET INCOME/(EXPENDITURE)
9,723
RECONCILIATION OF FUNDS
Total funds brought forward
519,086
TOTAL FUNDS CARRIED FORWARD
528,809		 Restricted
funds
£
22,203
-
22,203
10,103
62
14,734
-
24,899
(2,696)
81,917
79,221		 31.3.23
Total
funds
£
173,525
30,095
203,620
155,491
2,365
38,081
656
196,593
7,027
601,003
608,030		 31.3.22
Total
funds
£
184,048
25,367
209,415
161,434
2,934
34,698
1,473
200,539
8,876
592,127
601,003

The notes form part of these financial statements

Page 9

Gateway Fareham Ltd

Balance Sheet 31 March 2023

Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors: amounts falling due within one year
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
14
NET ASSETS
FUNDS
17
Unrestricted funds:
General fund
Restricted funds:
Building grants
Albania School of Light
Hampers
India support
School on site project
The Ark
Rear Stairwell Service Charge & Sinking Fund
Building Refurbishment Fund
Sierra Leone Shoe Box Project
Youth Mission 2020
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 Unrestricted
fund
£
586,445
-
586,445
4,257
57,695
61,952
(26,625)
35,327
621,772
(92,963)
528,809		 Restricted
funds
£
63,176
-
63,176
-
16,045
16,045
-
16,045
79,221
-
79,221		 31.3.23
Total
funds
£
649,621
-
649,621
4,257
73,740
77,997
(26,625)
51,372
700,993
(92,963)
608,030
528,809
63,176
353
1,817
170
13
1,103
2,497
490
246
2,407
572
1,723
1,046
3,608
79,221
608,030		 31.3.22
Total
funds
£
663,141
1
663,142
5,458
69,487
74,945
(25,437)
49,508
712,650
(111,647)
601,003
519,086
64,308
353
505
1,520
-
1,559
3,295
1,028
246
2,407
497
1,587
1,050
3,562
81,917
601,003

The notes form part of these financial statements

continued...

Page 10

Gateway Fareham Ltd

Balance Sheet - continued 31 March 2023

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 10 December 2023 and were signed on its behalf by:

F A Gouldstone - Trustee

The notes form part of these financial statements

Page 11

Gateway Fareham Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Equipment - 15% - 25% on reducing balance Fixtures and fittings - 15% - 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 12

Gateway Fareham Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

2. DONATIONS AND LEGACIES

Gifts
Donations and legacies
Gift aid
3.
OTHER TRADING ACTIVITIES
Rental income
4.
CHARITABLE ACTIVITIES COSTS
Regular church activities and ministry
Support for the needy
Overseas mission
Support costs
5.
SUPPORT COSTS
Management
£
Regular church activities and ministry
-
Support for the needy
-
Overseas mission
-
Support costs
655
655
Support costs, included in the above, are as follows:
Sundries
Wages
Social security
Pensions
Rates and water
Insurance
Light and heat
Carried forward		 31.3.23
£
-
146,867
26,658
173,525
31.3.23
£
30,095
Support
Direct
costs (see
Costs
note 5)
£
£
79,807
75,684
1,214
1,151
19,545
18,536
-
656
100,566
96,027
Governance
Other
costs
£
£
75,684
-
1,151
-
18,536
-
-
1
95,371
1
Regular
church
activities
Support
and
for the
ministry
needy
£
£
-
-
35,394
539
153
2
1,675
26
276
4
1,896
29
3,352
51
42,746
651		 31.3.22
£
2
155,282
28,764		 31.3.22
£
2
155,282
28,764
184,048
31.3.22
£
25,367
Totals
£
155,491
2,365
38,081
656
196,593
Totals
£
75,684
1,151
18,536
656
96,027
Overseas
mission
£
-
8,669
38
410
67
464
821
10,469		 Totals
£
75,684
1,151
18,536
656
96,027
10,469

continued...

Page 13

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

5. SUPPORT COSTS - continued

SUPPORT COSTS - continued
Regular
church
activities Support
and for the Overseas
ministry needy mission
£ £ £
Brought forward 42,746 651 10,469
Telephone 695 11 170
Cleaning and consumables 1,481 23 363
Other premises expenses 685 10 168
Refreshments 2,440 37 597
Printing, postage & stationery 2,381 36 583
Repairs and maintenance 6,916 105 1,694
Accountancy 1,190 18 292
Legal and professional 880 13 216
Depreciation of tangible fixed assets 11,520 175 2,821
Interest payable and sim chs 4,750 72 1,163
Loss on sale of intangible fixed assets - - -
75,684 1,151 18,536
31.3.23 31.3.22
Support Total Total
costs activities activities
£ £ £
Sundries 655 655 320
Wages - 44,602 42,763
Social security - 193 996
Pensions - 2,111 2,050
Rates and water - 347 (292)
Insurance - 2,389 1,973
Light and heat - 4,224 3,618
Telephone - 876 651
Cleaning and consumables - 1,867 1,602
Other premises expenses - 863 622
Refreshments - 3,074 1,202
Printing, postage & stationery - 3,000 2,063
Repairs and maintenance - 8,715 20,551
Accountancy - 1,500 1,500
Legal and professional - 1,109 1,058
Depreciation of tangible fixed assets - 14,516 13,782
Interest payable and sim chs - 5,985 4,609
Loss on sale of intangible fixed assets 1 1 -
656 96,027 99,068

continued...

Page 14

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.23 31.3.22
£ £
Depreciation - owned assets 14,516 13,782
Deficit on disposal of fixed assets 1 -

7. TRUSTEES' REMUNERATION AND BENEFITS

During the year no remunerations (2022 - £19,219) were paid to the trustees.

Trustees' expenses

Reimbursements and travel costs amounting to £nil (2022 - £265) were reimbursed to the trustees.

8. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 31.3.23
£
99,088
1,937
6,311
107,336		 31.3.22
£
97,472
3,143
4,916
105,531

The average monthly number of employees during the year was as follows:

Support staff
Church activities		 31.3.23

4
4
8		 31.3.22
4
4
8

No employees received emoluments in excess of £60,000.

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
149,679
Other trading activities
25,367
Total
175,046
EXPENDITURE ON
Charitable activities
Regular church activities and ministry
139,079
Support for the needy
2,663
Overseas mission
19,436
Support costs
1,473
Total
162,651		 Restricted
funds
£
34,369
-
34,369
22,355
271
15,262
-
37,888		 Total
funds
£
184,048
25,367
209,415
161,434
2,934
34,698
1,473
200,539

Page 15

continued...

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
funds
£
£
NET INCOME/(EXPENDITURE)
12,395
(3,519)
RECONCILIATION OF FUNDS
Total funds brought forward
506,692
85,435
TOTAL FUNDS CARRIED FORWARD
519,087
81,916
10.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
Equipment
fittings
£
£
£
COST
At 1 April 2022
778,510
63,884
47,231
Additions
-
996
-
At 31 March 2023
778,510
64,880
47,231
DEPRECIATION
At 1 April 2022
135,432
55,094
35,958
Charge for year
11,321
1,504
1,691
At 31 March 2023
146,753
56,598
37,649
NET BOOK VALUE
At 31 March 2023
631,757
8,282
9,582
At 31 March 2022
643,078
8,790
11,273
11.
FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23
£
Trade debtors
3,648
Gift aid receivable
609
4,257		 Total
funds
£
8,876
592,127
601,003
Totals
£
889,625
996
890,621
226,484
14,516
241,000
649,621
663,141
31.3.22
£
3,872
1,586
5,458		 Total
funds
£
8,876
592,127
601,003

Page 16

continued...

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23
£
Bank loans and overdrafts (see note 15)
22,800
Trade creditors
1,051
Social security and other taxes
1,275
Accrued expenses
1,499
26,625
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23
£
Bank loans (see note 15)
92,963
15.
LOANS
An analysis of the maturity of loans is given below:
31.3.23
£
Amounts falling due within one year on demand:
Bank loans
22,800
Amounts falling between one and two years:
Bank loans - 1-2 years
45,600
Amounts falling due between two and five years:
Bank loans - 2-5 years
47,363
16.
SECURED DEBTS
The following secured debts are included within creditors:
31.3.23
£
Bank loans
115,763		 31.3.22
£
22,800
125
1,013
1,499
25,437
31.3.22
£
111,647
31.3.22
£
22,800
45,600
66,047
31.3.22
£
134,447

Amounts included within bank loans and overdrafts relate to loans with Lloyds TSB and are secured by a mortgage charge dated 11 June 2007 and a charge dated 1 June 2011 on all of the fixed assets of the charity.

continued...

Page 17

Gateway Fareham Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Building grants
Albania School of Light
Hampers
India support
School on site project
The Ark
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Sierra Leone Shoe Box Project
Youth Mission 2020
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Building grants
Albania School of Light
Hampers
India support
School on site project
The Ark
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 At 1.4.22
£
519,086
64,308
353
505
1,520
-
1,559
3,295
1,028
246
2,407
497
1,587
1,050
3,562
81,917
601,003
Incoming
resources
£
181,417
-
10,425
3,696
1,950
284
640
2,661
62
650
650
996
189
22,203
203,620		 Net
movement
At
in funds
31.3.23
£
£
9,723
528,809
(1,132)
63,176
-
353
1,312
1,817
(1,350)
170
13
13
(456)
1,103
(798)
2,497
(538)
490
-
246
-
2,407
75
572
136
1,723
(4)
1,046
46
3,608
(2,696)
79,221
7,027
608,030
Resources
Movement
expended
in funds
£
£
(171,694)
9,723
(1,132)
(1,132)
(10,425)
-
(2,384)
1,312
(3,300)
(1,350)
(271)
13
(1,096)
(456)
(3,459)
(798)
(600)
(538)
(575)
75
(514)
136
(1,000)
(4)
(143)
46
(24,899)
(2,696)
(196,593)
7,027

continued...

Page 18

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Building grants
Albania School of Light
Hampers
India support
School on site project
The Ark
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Sierra Leone Shoe Box Project
Youth Mission 2020
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 At 1.4.21
£
506,692
65,440
353
239
1,500
337
1,576
2,582
4,794
246
2,407
1,065
809
1,250
2,837
85,435
592,127		 Net
movement
in funds
£
12,394
(1,132)
-
266
20
(337)
(17)
713
(3,766)
-
-
(568)
778
(200)
725
(3,518)
8,876		 At
31.3.22
£
519,086
64,308
353
505
1,520
-
1,559
3,295
1,028
246
2,407
497
1,587
1,050
3,562
81,917
601,003

continued...

Page 19

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Building grants
Albania School of Light
Hampers
India support
Albania - Wakeley Support
School on site project
The Ark
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 Incoming
resources
£
175,046
-
9,075
1,157
1,920
750
-
-
3,700
10,395
200
2,200
2,000
2,972
34,369
209,415		 Resources
Movement
expended
in funds
£
£
(162,652)
12,394
(1,132)
(1,132)
(9,075)
-
(891)
266
(1,900)
20
(750)
-
(337)
(337)
(17)
(17)
(2,987)
713
(14,161)
(3,766)
(768)
(568)
(1,422)
778
(2,200)
(200)
(2,247)
725
(37,887)
(3,518)
(200,539)
8,876

continued...

Page 20

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Building grants
Albania School of Light
Hampers
India support
School on site project
The Ark
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Sierra Leone Shoe Box Project
Youth Mission 2020
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 At 1.4.21
£
506,692
65,440
353
239
1,500
337
1,576
2,582
4,794
246
2,407
1,065
809
1,250
2,837
85,435
592,127		 Net
movement
in funds
£
22,117
(2,264)
-
1,578
(1,330)
(324)
(473)
(85)
(4,304)
-
-
(493)
914
(204)
771
(6,214)
15,903		 At
31.3.23
£
528,809
63,176
353
1,817
170
13
1,103
2,497
490
246
2,407
572
1,723
1,046
3,608
79,221
608,030

continued...

Page 21

Gateway Fareham Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Building grants
Albania School of Light
Hampers
India support
Albania - Wakeley Support
School on site project
The Ark
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 Incoming
resources
£
356,463
-
19,500
4,853
3,870
750
284
640
6,361
10,457
850
2,850
2,996
3,161
56,572
413,035		 Resources
Movement
expended
in funds
£
£
(334,346)
22,117
(2,264)
(2,264)
(19,500)
-
(3,275)
1,578
(5,200)
(1,330)
(750)
-
(608)
(324)
(1,113)
(473)
(6,446)
(85)
(14,761)
(4,304)
(1,343)
(493)
(1,936)
914
(3,200)
(204)
(2,390)
771
(62,786)
(6,214)
(397,132)
15,903

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

19. PURPOSES OF RESTRICTED FUNDS

The purposes of the restricted funds are as follows:

Hampers - provision of a Christmas hamper to local people in need

India Support - support of the charity Jeevan Asha, who help to provide education and support of young people from the slums.

Albania - Wakeley Support - support of Nick and Sar Wakeley who work with the community in Elbasan, Albania.

Building grants - donations are received for specifically maintaining or developing the building.

Sierra Leone - collaboration with Practical Tools Inactive to relieve poverty and hardship in deprived post war communities. Tools, learning materials and mobility aids are sent to Sierra Leone, along with support for running a school for 300 children from 3 villages in and around a Quarry.

The Ark - a toddler group which is run weekly in the building called 'Melody Makers'.

Rear stairwell service charge and sinking fund - there is an access stairwell that leads to the office but also leads to some flats above us. Gateway Fareham manage the electricity, cleaning, health and safety, maintenance etc. The flat owners pay a service charge into this fund once a year.

continued...

Page 22

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

19. PURPOSES OF RESTRICTED FUNDS - continued

Youth mission - donations from the congregation set aside for the youth to do a summer camp or something similar.

Hardship fund - the church set aside some funds to help out anyone in the church who need some financial support.

Pastoral Care - the church set aside some funds to help out anyone in the church who need pastoral support. This may be counselling or training.

Giving Team - there is a team who oversee the giving projects and causes the church support and keep the leadership accountable. They have some funds available to them for things that arise that they feel need financial support.

Fareshare - the church set aside some funds to help out anyone outside the church who need some financial support or it goes to some community based projects.

Page 23

Gateway Fareham Ltd

Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23 31.3.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Gifts - 2
Donations and legacies 146,867 155,282
Gift aid 26,658 28,764
173,525 184,048
Other trading activities
Rental income 30,095 25,367
Total incoming resources 203,620 209,415
EXPENDITURE
Charitable activities
Wages 54,486 54,709
Social security 1,744 2,147
Pensions 4,200 2,866
Sundries 1,360 1,153
Training 976 1,072
External support - Social concern 11,076 15,578
External support - Churches Together in Farnham 376 50
Social activities - 1,934
Youth and children's work 5,167 2,905
Tapes and literature 546 15
Evangelism 156 156
Other support gifts 1,198 1,472
Albania/Kosovo 12,825 12,562
India 6,456 4,852
100,566 101,471
Support costs
Management
Sundries 655 320
Other
Wages 44,602 42,763
Social security 193 996
Pensions 2,111 2,050
Rates and water 347 (292)
Insurance 2,389 1,973
Light and heat 4,224 3,618
Telephone 876 651
Cleaning and consumables 1,867 1,602
Other premises expenses 863 622
Refreshments 3,074 1,202
Carried forward 60,546 55,185

This page does not form part of the statutory financial statements

Page 24

Gateway Fareham Ltd

Other
Brought forward
Printing, postage & stationery
Repairs and maintenance
Accountancy
Legal and professional
Depreciation of tangible fixed assets
Bank interest
Governance costs
Loss on sale of intangible fixed assets
Total resources expended
Net income		 Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23
31.3.22
£
£
60,546
55,185
3,000
2,063
8,715
20,551
1,500
1,500
1,109
1,058
14,516
13,782
5,985
4,609
95,371
98,748
1
-
196,593
200,539
7,027
8,876		 Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23
31.3.22
£
£
60,546
55,185
3,000
2,063
8,715
20,551
1,500
1,500
1,109
1,058
14,516
13,782
5,985
4,609
95,371
98,748
1
-
196,593
200,539
7,027
8,876
98,748
-
200,539
8,876

This page does not form part of the statutory financial statements

Page 25