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← Gateway Fareham LTD

2024-03-31-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 2024

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 2024

Page
Report of the Trustees 1 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13 to 15
Notes to the Financial Statements 16 to 28
Detailed Statement of Financial Activities 29 to 30

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

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 2024. 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

Once again, employees and volunteers of Gateway Fareham have worked together to offer a remarkable range of spiritual, pastoral, outreach and social activities during the year for the benefit of people from all age groups, inside and outside of the church, in this country and overseas. Details are given in the Objectives and Activities section. 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.

At the start of the year the planned outsourcing of the finance and payroll functions to a local bookkeeping company took place, and this coincided with staff changes in the office. The transition was not always smooth and there was a steep learning curve for new and existing members of staff, but the result is increased efficiency which will enable us to channel a higher percentage of resources into fulfilling our charitable objectives.

Gateway Fareham has continued under the leadership of Pastors Martin and Gabi Doyle who are supported and overseen by Senior Pastors, Tim and Danni Lockwood. We continue to benefit from being part of the 'One Church two sites' partnership with Gateway Waterside who are based in the New Forest.

One of the aims of being 'One Church, Two Sites' is that we can mutually support each other in fulfilling shared charitable objectives. 'One Church' activities and events during the year included:

A joint Easter service in which both sites met together in Fareham for our Easter Sunday service, while

Page 1

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

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 2

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

OBJECTIVES AND ACTIVITIES Significant activities 1) Activities to advance the Christian faith

a. Sunday Mornings Services

Our Sunday morning services are a key part of church life and have continued to be well supported. Live- streaming of services on YouTube, which commenced during the Covid closure period, has continued. The pastors have delivered a relatable program of teaching that will help equip people in the congregation with a deeper understanding of God's character, the Gospel and our mission as a church. The topics have ranged from biblical studies to general mission focussed talks about the purpose of Church and our involvement with it. In addition to this we have also explored more personal topics covering many areas of life. Welcome packs are given to new people visiting the church while 33 new people signed up to church suite to become further involved. Many of these people are now active serving members of the church. We are continuously refining the Sunday services to make them more accessible, run smoother and more in line with the vision of the church.

b. Outreach

This year we have had a variety of outreach opportunities, including:

c. Gateway Academy

The Gateway Academy is our platform to support more in depth teaching and learning. The academy has run various courses over the last year such as the Experiencing God Course. An addition this year is Open Book which has walked through books in the Bible and key theological themes. In the coming year we hope to start running a Freedom in Christ Course.

d. Connect Groups

Connect groups are smaller groups that provide a point of connection for church members mid-week. We currently have 8 connect groups that meet at various times of the week. The main purpose of connect groups is to journey through the ups and downs of life together, praying and studying the bible together. For example, most groups followed the Bible Society's video course on Romans during the autumn.

e. Men's and Women's Ministry

Over the last year we have run a combination of breakfasts, curry nights and Men's days, providing times of fellowship as well as a place to encourage both men and women in daily life and faith.

f. Worship & Prayer

A time of prayer and worship is an integral part of our Sunday morning service and our connect groups. In addition, there have been worship and prayer evenings, weeks of prayer and fasting, evenings of worship and prayer, monthly prayer breakfasts and a weekly prayer gathering. A focus of our prayers during the year has been ill health, global events and matters impacting our local community and church.

The worship team have hosted evenings to provide training and fellowship for those involved in the musical worship in the church.

Page 3

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

OBJECTIVES AND ACTIVITIES

g. Pastoral Support

We have a team dedicated to supporting the pastoral needs of members of the church. They meet every month to review the pastoral care as well as praying for members of the church and putting together practical actions plans for support. We currently have 10 members on the team all of which help with practical and emotional pastoral care for members of the church. This team has representatives from different areas within the church.

h. Youth and children's work

Sunday Mornings

i. Kids Church 4-10yrs

The vision of the Kids Church is "to see children develop a lifelong friendship with Jesus, follow his commands and show love and care to others. "

Over the last year we have had 20 children attending per week split between 2 age groups Year R-3 and Year 4-6.

Highlights of the year include:

Page 4

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

OBJECTIVES AND ACTIVITIES

j. Toddler and Preschool Church 0-4yrs

Aims for our toddlers and preschool children are:

Our youngest children are catered for in two groups: Toddler church for 0-2 year-olds started in September 2023 and has 6 members. The preschool group for 3-4 year olds has 4 children. Sessions have a story time, game, craft, prayer time, sensory trays (linking to our theme that week) and free play. Themes have included Creation, 'Chatting and Catching (listening) with God' and 'God is…' (for example, faithful, a fortress etc).

Once a month we have a thankful service (during communion) with different themes (for example thankful for Jesus, friends, family) to focus on what Jesus has done and why we have communion.

k. Music Makers:

This is a term time group for parents and their preschool children to enjoy singing and includes a bible story. 14 children regularly attended. Key aims of this group is to reach out to families, build relationships with the wider community and ultimately show the community the love of God.

Each term ended with a party to celebrate the end of term.

2) Activities to support those in need, the aged and those with ill health

a. Care for the homeless and needy in the local area

Gateway Fareham met the needs of people in the local area in the following ways:

Page 5

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

OBJECTIVES AND ACTIVITIES

b. Use of the King's Centre to support local charities and agencies

As well as being used to further the Christian Faith, the Gateway Fareham's building, the King's centre, continued to provide office and meeting space to organisations with which we share common objectives. Space was provided free of charge or at greatly reduced rates for some charities and community groups. Groups using the King's Centre during the year include:

c. Support of 3rd Parties working outside the UK

Albania

Gateway Fareham continues to financially support Nick and Sarah Ann Wakely, originally members of the church, who have lived in Albania for 30 years, promoting the Christian Faith and relieving hardship due to poverty and illness by donating £2,400 in the year.

India

£960 was given to Jevan Asha, a charity providing education and support to young people from the slums of India.

Gateway Fareham also supports School of Ministry which trains pastors in India.

Sierra Leone

Practical Tools Initiative (PTI) is a charity started by church member James Fallah-Williams, to relieve poverty and hardship in deprived post-war communities. James is based in our church office and is very much a part of the office team. The charity collects, refurbishes, and sends used tools, learning materials and mobility aids to Sierra Leon. These items are used for education, to create employment and relieve hardship among disabled people, single mothers, and young offenders. +

During the year we have continued to support PTI financially, donating a total of £2,400.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set out.

Volunteers

The trustees are very grateful to all the volunteers who helped the church to carry out its activities and fulfil its objectives over the year. Although the church is highly dependent on its volunteers to fulfil its objectives the total value of the volunteer's input has not been quantified.

Page 6

Gateway Fareham Ltd

for the Year Ended 31 March 2024

Report of the Trustees

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Through all the many activities listed above, Gateway Fareham has successfully met its stated aims of advancing the Christian Gospel and achieved this across all age groups. It has opened its doors to local charities and also showed hospitality to the local community. It has also relieved poverty within Fareham and internationally.

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 £194,435 (2023: £203,620), derived from donations, and room hire income. While this represents a decrease of £9,185 in our income compared to the previous year, our expenditures have also reduced by £12,899 since the prior year. The ongoing impact of coming out of the pandemic years 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 £602,031 and restricted reserves of £16,740 at 31 March 2024

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 which is £30,000.

Property

The King's Centre , the home of Gateway Church Fareham, 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 7

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

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:

James Fallah-Williams Paul Hillier Gary Hammett 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 8

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

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 Z Derbak Senior finance officer (resigned 30.9.24) S Fenner Pre sales technical marketing manager (resigned 24.11.23) R Snelling Retired G Hammett Staff Software Engineer (appointed 17.9.23) P Hillier Retired (appointed 2.10.23)

J Fallah-Williams Charity worker (appointed 8.2.24)

Page 9

Gateway Fareham Ltd

Report of the Trustees for the Year Ended 31 March 2024

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 6 November 2024 and signed on its behalf by:

F A Gouldstone - Trustee

Page 10

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 2024.

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

14 December 2024

Page 11

Gateway Fareham Ltd

Statement of Financial Activities for the Year Ended 31 March 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
149,264
Other trading activities
3
29,368
Total
178,632
EXPENDITURE ON
Charitable activities
4
Regular church activities and ministry
158,736
Support for the needy
1,920
Overseas mission
10,153
Support costs
716
Total
171,525
NET INCOME
7,107
Transfers between funds
16
66,115
Net movement in funds
73,222
RECONCILIATION OF FUNDS
Total funds brought forward
528,809
TOTAL FUNDS CARRIED FORWARD
602,031		 Restricted
funds
£
15,803
-
15,803
6,508
14
5,647
-
12,169
3,634
(66,115)
(62,481)
79,221
16,740		 31.3.24
Total
funds
£
165,067
29,368
194,435
165,244
1,934
15,800
716
183,694
10,741
-
10,741
608,030
618,771		 31.3.23
Total
funds
£
173,525
30,095
203,620
155,491
2,365
38,081
656
196,593
7,027
-
7,027
601,003
608,030

The notes form part of these financial statements

Page 12

Gateway Fareham Ltd

Balance Sheet 31 March 2024

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors: amounts falling due within one year
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
13
NET ASSETS		 Unrestricted
funds
£
635,592
7,412
57,334
64,746
(23,508)
41,238
676,830
(74,800)
602,030		 Restricted
funds
£
-
-
16,741
16,741
-
16,741
16,741
-
16,741		 31.3.24
Total
funds
£
635,592
7,412
74,075
81,487
(23,508)
57,979
693,571
(74,800)
618,771		 31.3.23
Total
funds
£
649,621
4,257
73,740
77,997
(26,625)
51,372
700,993
(92,963)
608,030

The notes form part of these financial statements

continued...

Page 13

Gateway Fareham Ltd

Balance Sheet - continued 31 March 2024

Unrestricted
Restricted
funds
funds
Notes
£
£
FUNDS
16
Unrestricted funds:
General fund
India Support
Pastoral Care Team
Giving Team
Localised Giving Fund
Freehold Property
Restricted funds:
Building grants
Albania Projects
Hampers
India support
Practical Tools Initiative
Toddlers Ministry - MM
Rear Stairwell Service Charge & Sinking Fund
Building Refurbishment Fund
Sierra Leon Showbox Project - PTI
Youth Ministry
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 31.3.24
Total
funds
£
72,447
2,020
1,708
1,339
1,680
522,836
602,030
-
4,585
1,046
-
118
871
2,671
490
416
2,418
518
-
-
3,608
16,741
618,771		 31.3.23
Total
funds
£
528,809
-
-
-
-
-
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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 14

Gateway Fareham Ltd

Balance Sheet - continued 31 March 2024

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 6 November 2024 and were signed on its behalf by:

F A Gouldstone - Trustee

The notes form part of these financial statements

Page 15

Gateway Fareham Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

Page 16

continued...

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. DONATIONS AND LEGACIES

Gifts
Donations and legacies
Gift aid
3.
OTHER TRADING ACTIVITIES
Rental income
4.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Regular church activities and ministry
98,151
Support for the needy
1,353
Overseas mission
8,878
Support costs
-
108,382
5.
SUPPORT COSTS
Management
£
Regular church activities and ministry
-
Support for the needy
-
Overseas mission
-
Support costs
715
715
Support costs, included in the above, are as follows:
Regular
church
activities
and
ministry
£
Sundries
-
Wages
14,879
Social security
-
Pensions
-
Rates and water
202
Insurance
2,868
Light and heat
3,765
Telephone
901
Carried forward
22,615		 31.3.24
£
625
138,618
25,824
165,067
31.3.24
£
29,368
Support
costs (see
note 5)
£
67,093
581
6,922
716
75,312
Other
£
67,093
581
6,922
1
74,597
Support
for the
needy
£
-
123
-
-
2
24
31
7
187		 31.3.23
£
-
146,867
26,658		 31.3.23
£
-
146,867
26,658
173,525
31.3.23
£
30,095
Totals
£
165,244
1,934
15,800
716
183,694
Totals
£
67,093
581
6,922
716
75,312
Overseas
mission
£
-
1,535
-
-
21
296
388
93
2,333		 Totals
£
67,093
581
6,922
716
75,312
2,333

continued...

Page 17

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

5. SUPPORT COSTS - continued

SUPPORT COSTS - continued
Regular
church
activities Support
and for the Overseas
ministry needy mission
£ £ £
Brought forward 22,615 187 2,333
Cleaning and consumables 1,473 12 152
Other premises expenses 166 1 17
Refreshments 3,185 53 329
Printing, postage & stationery 2,445 20 252
Repairs and maintenance 9,432 78 973
Accountancy 6,830 56 705
Legal and professional 1,036 9 107
Depreciation of tangible fixed assets 12,673 105 1,307
Interest payable and sim chs 7,238 60 747
Loss on sale of intangible fixed assets - - -
67,093 581 6,922
31.3.24 31.3.23
Support Total Total
costs activities activities
£ £ £
Sundries 715 715 655
Wages - 16,537 44,602
Social security - - 193
Pensions - - 2,111
Rates and water - 225 347
Insurance - 3,188 2,389
Light and heat - 4,184 4,224
Telephone - 1,001 876
Cleaning and consumables - 1,637 1,867
Other premises expenses - 184 863
Refreshments - 3,567 3,074
Printing, postage & stationery - 2,717 3,000
Repairs and maintenance - 10,483 8,715
Accountancy - 7,591 1,500
Legal and professional - 1,152 1,109
Depreciation of tangible fixed assets 1 14,086 14,516
Interest payable and sim chs - 8,045 5,985
Loss on sale of intangible fixed assets - - 1
716 75,312 96,027

continued...

Page 18

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

6. NET INCOME/(EXPENDITURE)

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

31.3.24 31.3.23
£ £
Depreciation - owned assets 14,085 14,516
Deficit on disposal of fixed assets - 1

7. TRUSTEES' REMUNERATION AND BENEFITS

During the year no remunerations (2023 - Nil) were paid to the trustees.

Trustees' expenses

Reimbursements and travel costs amounting to £nil (2023 - £nil) were reimbursed to the trustees.

Related party transactions

James Fallah-Williams was appointed as a trustee on 8th February 2024. Mr Fallah-Williams works for Practical Tools Initiative, which Gateway Fareham have been donating to in this and prior years. Mr Fallah-Williams is not involved in decision making regarding this donation that is given by Gateway Fareham to Practical Tools Initiative. The church donation in the period totalled to £2,400.

Gary Hammett was appointed as a trustee on 17th September 2023. Mr Hammett's wife is renting a room at the church for her counselling services since February 2024. Mrs Hammett paid £50 in the year for room hire. Mr Hammett is not involved in room hire related discussions.

No other transaction took place between any related parties in the year.

8. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 31.3.24
£
91,757
-
2,187
93,944		 31.3.23
£
99,088
1,937
6,311
107,336

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

Support staff
Church activities		 31.3.24
2
6
8		 31.3.23
4
4
8

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

continued...

Page 19

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
151,322
Other trading activities
30,095
Total
181,417
EXPENDITURE ON
Charitable activities
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
10.
TANGIBLE FIXED ASSETS
Freehold
property
Equipment
£
£
COST
At 1 April 2023
778,510
64,880
Additions
-
56
At 31 March 2024
778,510
64,936
DEPRECIATION
At 1 April 2023
146,753
56,598
Charge for year
11,321
1,327
At 31 March 2024
158,074
57,925
NET BOOK VALUE
At 31 March 2024
620,436
7,011
At 31 March 2023
631,757
8,282		 Restricted
funds
£
22,203
-
22,203
10,103
62
14,734
-
24,899
(2,696)
81,917
79,221
Fixtures
and
fittings
£
47,231
-
47,231
37,649
1,437
39,086
8,145
9,582		 Total
funds
£
173,525
30,095
203,620
155,491
2,365
38,081
656
196,593
7,027
601,003
608,030
Totals
£
890,621
56
890,677
241,000
14,085
255,085
635,592
649,621		 Total
funds
£
173,525
30,095
203,620
155,491
2,365
38,081
656
196,593
7,027
601,003
608,030

continued...

Page 20

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 5,065 3,648
Gift aid receivable 2,347 609
7,412 4,257
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans and overdrafts (see note 14) 22,800 22,800
Trade creditors (1,932) 1,051
Social security and other taxes (440) 1,275
Pensions 468 -
Accrued expenses 2,612 1,499
23,508 26,625
13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans (see note 14) 74,800 92,963
14. LOANS
An analysis of the maturity of loans is given below:
31.3.24 31.3.23
£ £
Amounts falling due within one year on demand:
Bank loans 22,800 22,800
Amounts falling between one and two years:
Bank loans - 1-2 years 22,800 22,800
Amounts falling due between two and five years:
Bank loans - 2-5 years 52,000 70,163
15. SECURED DEBTS
The following secured debts are included within creditors:
31.3.24 31.3.23
£ £
Bank loans 97,600 115,763

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 21

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
India Support
Pastoral Care Team
Giving Team
Localised Giving Fund
Freehold Property
Restricted funds
Building grants
Albania Projects
Hampers
India support
Practical Tools Initiative
Toddlers Ministry - MM
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Sierra Leon Showbox Project - PTI
Youth Ministry
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 At 1.4.23
£
528,809
-
-
-
-
-
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		 Net
movement
in funds
£
22,336
1,850
(15)
293
1,680
(19,038)
7,106
-
4,232
(771)
-
105
(232)
174
-
170
11
(54)
-
-
-
3,635
10,741		 Transfers
between
funds
£
(478,698)
170
1,723
1,046
-
541,874
66,115
(63,176)
-
-
(170)
-
-
-
-
-
-
-
(1,723)
(1,046)
-
(66,115)
-		 At
31.3.24
£
72,447
2,020
1,708
1,339
1,680
522,836
602,030
-
4,585
1,046
-
118
871
2,671
490
416
2,418
518
-
-
3,608
16,741
618,771

continued...

Page 22

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
India Support
Pastoral Care Team
Giving Team
Localised Giving Fund
Freehold Property
Restricted funds
Albania Projects
Hampers
Practical Tools Initiative
Toddlers Ministry - MM
Rear Stairwell Service Charge & Sinking
Fund
Sierra Leon Showbox Project - PTI
Youth Ministry
Hardship Fund
TOTAL FUNDS		 Incoming
resources
£
172,749
1,850
680
1,273
2,080
-
178,632
9,707
1,190
105
571
2,030
170
2,030
-
15,803
194,435		 Resources
Movement
expended
in funds
£
£
(150,413)
22,336
-
1,850
(695)
(15)
(980)
293
(400)
1,680
(19,038)
(19,038)
(171,526)
7,106
(5,475)
4,232
(1,961)
(771)
-
105
(803)
(232)
(1,856)
174
-
170
(2,019)
11
(54)
(54)
(12,168)
3,635
(183,694)
10,741

continued...

Page 23

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Building grants
Albania Projects
Hampers
India support
Practical Tools Initiative
Toddlers Ministry - MM
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Sierra Leon Showbox Project - PTI
Youth Ministry
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		 Net
movement
in funds
£
9,723
(1,132)
-
1,312
(1,350)
13
(456)
(798)
(538)
-
-
75
136
(4)
46
(2,696)
7,027		 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 24

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. 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 Projects
Hampers
India support
Practical Tools Initiative
Toddlers Ministry - MM
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 Incoming
resources
£
181,417
-
10,425
3,696
1,950
284
640
2,661
62
650
650
996
189
22,203
203,620		 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

Page 25

continued...

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
India Support
Pastoral Care Team
Giving Team
Localised Giving Fund
Freehold Property
Restricted funds
Building grants
Albania Projects
Hampers
India support
Practical Tools Initiative
Toddlers Ministry - MM
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Sierra Leon Showbox Project - PTI
Youth Ministry
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 At 1.4.22
£
519,086
-
-
-
-
-
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		 Net
movement
in funds
£
32,059
1,850
(15)
293
1,680
(19,038)
16,829
(1,132)
4,232
541
(1,350)
118
(688)
(624)
(538)
170
11
21
136
(4)
46
939
17,768		 Transfers
between
funds
£
(478,698)
170
1,723
1,046
-
541,874
66,115
(63,176)
-
-
(170)
-
-
-
-
-
-
-
(1,723)
(1,046)
-
(66,115)
-		 At
31.3.24
£
72,447
2,020
1,708
1,339
1,680
522,836
602,030
-
4,585
1,046
-
118
871
2,671
490
416
2,418
518
-
-
3,608
16,741
618,771

Page 26

continued...

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. 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
India Support
Pastoral Care Team
Giving Team
Localised Giving Fund
Freehold Property
Restricted funds
Building grants
Albania Projects
Hampers
India support
Practical Tools Initiative
Toddlers Ministry - MM
Rear Stairwell Service Charge & Sinking
Fund
Building Refurbishment Fund
Sierra Leon Showbox Project - PTI
Youth Ministry
Hardship Fund
Pastoral Care
Giving Team
Fareshare
TOTAL FUNDS		 Incoming
resources
£
354,166
1,850
680
1,273
2,080
-
360,049
-
20,132
4,886
1,950
389
1,211
4,691
62
170
2,030
650
650
996
189
38,006
398,055		 Resources
Movement
expended
in funds
£
£
(322,107)
32,059
-
1,850
(695)
(15)
(980)
293
(400)
1,680
(19,038)
(19,038)
(343,220)
16,829
(1,132)
(1,132)
(15,900)
4,232
(4,345)
541
(3,300)
(1,350)
(271)
118
(1,899)
(688)
(5,315)
(624)
(600)
(538)
-
170
(2,019)
11
(629)
21
(514)
136
(1,000)
(4)
(143)
46
(37,067)
939
(380,287)
17,768

Transfers between funds

After discussions with the trustees when preparing the financial statements, it was determined that the funds for India Support, Pastoral Care Team, Giving Team and Localised Giving Team were not restricted by covenant, and were designated by our church leadership as contributions from our church's unrestricted income towards these particular causes. Therefore these previously restricted funds were transferred to unrestricted, but have been recognised separately of the general fund to show their status as designated funds.

In previous accounting periods, 10% of the freehold property costs had been restricted. The trustees deemed this was no longer necessary, as the restriction related to historic donations to help the church purchase the property, which has now been fulfilled.

All freehold property costs have been transferred from the general and restricted building to a new designated freehold property funds in this period.

Restricted fund purposes are detailed in note 18 of the financial statements.

continued...

Page 27

Gateway Fareham Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

18. 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.

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 28

Gateway Fareham Ltd

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24 31.3.23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Gifts 625 -
Donations and legacies 138,618 146,867
Gift aid 25,824 26,658
165,067 173,525
Other trading activities
Rental income 29,368 30,095
Total incoming resources 194,435 203,620
EXPENDITURE
Charitable activities
Wages 75,220 54,486
Social security - 1,744
Pensions 2,187 4,200
Sundries 459 1,360
Training 1,296 976
External support - Social concern 10,296 11,076
External support - Churches Together in Farnham 599 376
Youth and children's work 7,711 5,167
Tapes and literature 273 546
Evangelism 156 156
Other support gifts 1,350 1,198
Albania/Kosovo 7,875 12,825
India 960 6,456
108,382 100,566
Support costs
Management
Sundries 715 655
Other
Wages 16,537 44,602
Social security - 193
Pensions - 2,111
Rates and water 225 347
Insurance 3,188 2,389
Light and heat 4,184 4,224
Telephone 1,001 876
Cleaning and consumables 1,637 1,867
Other premises expenses 184 863
Refreshments 3,567 3,074
Printing, postage & stationery 2,717 3,000
Carried forward 33,240 63,546

This page does not form part of the statutory financial statements

Page 29

Gateway Fareham Ltd

Other
Brought forward
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 2024
31.3.24
31.3.23
£
£
33,240
63,546
10,483
8,715
7,591
1,500
1,152
1,109
14,086
14,516
8,045
5,985
74,597
95,371
-
1
183,694
196,593
10,741
7,027		 Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24
31.3.23
£
£
33,240
63,546
10,483
8,715
7,591
1,500
1,152
1,109
14,086
14,516
8,045
5,985
74,597
95,371
-
1
183,694
196,593
10,741
7,027
95,371
1
196,593
7,027

This page does not form part of the statutory financial statements

Page 30