REGISTERED COMPANY NUMBER: 06641980 (England 8Dd Wales) REGISTERED CHARITY NUMBER: 1127347 Report of the Trusttts And Unawdlt¢d F5n*n¢lal Statements for the Year End¢d 31 MAreh 2024 ror The Gap (Mldl8nds) Dalton Pardo¢ Limited Chartered Auountants 794 High Street King5winford West Midlands DY6 8BQ
The Gap Imldknnds) Contents orth¢ FIDanelal StstemeDts for ¢h¢ Ye•r Ended 31 Mr¢h 2024 Report of the Trnle¢s I to 3 IndependeDt Exaw1n$ Report Ststemeot ofFluttell Activltks B*lanee Sheet 6 to 7 Notrs to the fm•u¢i•l Ststemetyts 8 10 12 Dttalkd stateetst of Flnaxelal A¢¢lYltles 13
The Gap Imldiands) Report of the Trustees for ¢b¢ Year Ettded 31 March 2024 The trustee5 who are a150 directors of the charity for the purposes of the Companies Act 2006$ pres¢nt th¢ir report wlth the financial statements of the Charity for the year ended 31 Mawh 2024. The trustee5 hav¢ adopted the provlsion5 of Accounting and Reporting by Charities: Slaiemeni of Recommended Pra¢il¢e appli¢abl¢ to Charitie8 preparlng their accounts in accordance with the Financi¥41 Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective I January 2019). OWECTIVES AJYD AcfiviTIES Objectlves and alms The charity seeks to d¢mon8trate the Christian faith in A¢lion. 1¢ seeks to offer ¢0 marginalised young people. irrespxtive of circumstance$ or $iation. th¢ opportunities to improv¢ their ¢ondition$ of lift and develop their skills and capabilities, to enable them to participate in society as muture al responsible adults and to demonstrale to them the positive differen¢¢ faith in Jesus Christ can bring to them. FINANCIAL REVIEW Flnanclal Revl¢w Th¢ ¢h8rity re¢¢iv¢d incom¢ amounting lo £101,358 in the yeAr under review (£27,991 . 2023). Expenditure to¢alled £36.095 for the year under review (£48,984 2023) resulting in an overall Surplus of Income over expenditure of £65,263 (Deficit of £20,933 2023) Re8erve$ brought forward as at 1st Aprll 2023 totalled £3,210 and a8 a resuk the charitys total reserves ¢&Tled forward at th¢ balance sheet date Sncreased to £68,473. Unrestricted r¢servw in¢roBsed frorn a defi¢lt of £2,610 as Rt l$t April 2023 to £56,413 over the year. R¢s¢rve$ pollcy The tSteeS have ¢stsbli8hed a poli¢y wknby free reserve$ held by ihe charity should be maintalned at £IO.000. This 18 based on On esiimate of four months average expenditure. General reserves carried forwArd at the balance Sheet dale were £14208. STRucfuRE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing documen( a deed of tn¥t, and constitutes a limited compjny. limited by guarantee, as defined by the CompAnies Act 2006. The policy and operatln8 decisions of the charity rest with the Directorsrrrustees who meet re8ularly to monitor the a¢tivilies of the company. New Tnjstees Bre appointed by ordinary resolution of the members. The recommendations ftir appoinlments arc b8sed on the need for the chority io have an appropriate skill and experience to detennine charity poll¢les and to monitor implementstion of them. Rlsk m4ni8emtht The ffiistees have a duty to identify md revlew the risk5 to which the chBrity is exposed llnd to ensure appropriats ¢ontrol$ are in pla¢e to provlde reasonable assurance against fraud and ¢rror. REFERENCE AND ADMINISTRATIVE DETAILS Regl$t¢red Cornpany number 06641980 {En8land and WAles) Regl$¢ered Ch*rlty number 1127347 Page I
Th¢ Gap (MidlgDd$) Report of the Tru5tses for the Year Ended 31 March 2024 Rtgi5tered office Banners Gate Community Church Westsvood Road Sutton Coldfield West Midland$ B73 6UH Tru$toe5 Mr5 C Morphet R M Pearse J H Walker D West-mullen D S Hodkinson P Palser Company S¢cr¢t8ry R M Pearse Independent Examlner Colin Dalton FCA Dalton Pardoe Limlted Chartered Accountants 794 High Street KinKswinford West Midlands DY6 8BQ TRUSTEES, RESPONSIBILITY STATEMENT The trustees (who are also the dlrectors of The Gap (Midlands) for the purposes of company l&w) th responsible ftlr preparing the Report of the Tn]stees and th¢ finJn¢ial glalements in Ac¢ordance with applicable law and Uniled Kingdom A¢countin8 Stand&rds (Unit¢d Kingdom G¢n¢rAlly Ac¢¢pted AccouD¢ing Prartice) including Flnon¢Sal Roporting Standard 102 "Th¢ Firt8n¢ial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the tntee8 to prepare financial siat¢ments for each financial year which 8lve a true and fair view of the State of affairs of th¢ ¢haritabl¢ company and of the incomirtg resour¢e$ and &pplic&iion of resources, including the income and expenditure. of the ¢harltable company for that p¢riod. In prep&rin8 those financi415tal¢ment$. the trustees are required to select suitoble a¢wunting policies and then apply ihem consistently; observe the rnethods and principle3 in the Charity SORP. make judgements and estimates thar are reoson4ble and prudent; prepare the finonciol 8tai¢ments on the 80Sn8 Concern basis unle55 it 15 inappropriate to presume tha¢ the charitable company will ¢ontinue Sn business. The miJtee$ are responsible for keeping proper a¢¢ounling records which disclose with reasonable accuracy at any lime th¢ finan¢ial position of the charitable coMpY and ¢0 enable them to ensure that the financial ststemenis ¢omply with the Companie5 Act 2006. They ar¢ also responsible for safeguarding the &8s¢ts of the ¢haritable Company and h¢nc¢ for taking Teasonable sleps for the prevention and detection of fraud and other itte8ulariiies. Page 2
The Cap (MldlaThds) Report ofthe Tru$t¢¢s for the Year Ended 31 March 2(124 This report has been prepared in cordanCe with the $pe¢ial provisions of Part 15 of the Companies A¢¢ 2006 relating to smo11 ¢ompanies. Approved by order of the board of trustees on ............. . and signed on its behalf by. D W¢51-Mullen- Trust¢¢ Poge 3
Indepcndent Examiner's Report lo the Trustee5 of The G#p (Midlands) Independent exan]iner's report to the tru5tee5 of The Ggp (Midland5) I'tht Company,) I report io the charity trt15tees on my examination of the accounts of the Companj. for the year ended 31 March 2024. Re5pon5Lbilities ajid basi5 of report As Ilie charity's trustees of the Company land also ils directors for the purpose5 of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies A¢t 20061'ihe 2006 A¢t'l. Having satisfied myself that the accounts of ihe Company are not required 10 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 Charitie5 Act 2011 ('the 201 l Aci'l. In tarrying out my examinaiion I have followed the Directions given by the Chariiy Commission under Section 145151 {b) of the 2011 Acr. Indcpen(tcnt cianiiner'5 stateent I have completed Iny examinati(Fn. I confirni that no matters have come to my aiteniion in connection with the exatnination giving me cause ro believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act: or the accoun15 do not accoid wilh those records- or the accounts do not comply with the acctsunlin(T requiiemenis of Seciion 396 of ihe 2006 Act oiher than any requiremenr that ihe accounis give a true and fair vieiv which is not a matter considered a5 part of an independent examinaiion; or the accounts have not been prepared in accordance with the Inethods and principles of the Statement of Recommcnded Practice for accountinu and reportinu by chariiies {applicable to charities preparing iheir accounts in accordance with the FinancEal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}1. I have no concems and have eome across no other matters in connection with the examination to which attention should be drawTr in this report in order to enable a proper understanding of tlie ac¢ount5 to be reached. Colin Dalton FCA Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswiiiford West Midlands DY6 8BQ Date.. Page 4
Tb¢ G•p (Midlattds) Sts¢eml of Finan¢i•l A¢tiYities for the Yr EDded 31 March 2024 PeriTrl 1.822 Yexr Ended 31J.24 Totsl runds 31.3.23 Total funds funds INCOME AND ENDOWMEKfs FROM t)onations and legacies IOD 98.685 27,957 Other trading activities Investment incon 2.(100 673 673 34 Tot81 93J58 &ioo IiIIJ58 27,991 EXPENDITURE ON Raising fimds 5A59 5.459 3238 ChMTltable activities - expenditure 2&776 lJ60 3•,636 45,746 Total 34335 36,(195 48,984 NET INCOMFJ(EXPENDrruRE) 59023 6340 65263 (20.993) RECONCILIATION OF FUNDS Totsl fijnds brought fmvard (2th10) 5020 3310 24203 TOTAL FVNDS CARRIED FORWARD 56.413 12,060 6&473 3210 The notes fonn part of th¢9¢ fllwKial s¢&tements Pa8e 5
The Gp (MldlDds) Balance Sheet 31 March 2024 31.324 Total fjnds 31.3.23 Totsl fimds FIXED ASSETS Tangiljle assets 1326 214 1.920 CURRENT ASSETS Debtors Cash at bank ond in hand 2.652 SS389 2,652 67.135 500 5.737 11.846 57.941 11.846 69.787 6237 CREDITORS Amounts falling due within cffle year io (1754) 12.754) (4.947) NET CURREIYT A&SETS $5.187 07.1133 1290 TOTAL ETs LE&S CtJRRENr LIABILrrIES 5&413 12.060 68,473 3210 NET ASSETS $6413 12.1)6(1 68473 3.210 FUNDS Unrestricted funds: General fill Emergency fund 46,413 10.000 (2,610) 56.413 (2.610) Restricted fund$'. Headspace Project Youth Worker Venu¢ Games 2JO5 9,459 96 1.361 4.459 12.1)60 5,820 TOTAL FUNDS 68A73 3,210 The ¢haritable company 15 entitled to exemptton from audit WKler Section 477 ofthe C¢)mpanie5 Act 2006 for the year ended 31 March 2024. The members have not Tequirnl the ¢omp8ny to obtsin an audit of its financial ststements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2(x)6. The no*s fonn part of these financial statements Page 6
Th¢ Gap (Mldl4nd$) BalwThc¢ She¢t- ¢ontlnued 31 MArch 2024 The trustees acknowledg¢ their responsibilities for (a) ¢uring fhol ihe ¢haritoble company keeps accounting records that comply with Se¢tions 386 and 387 of the Companie$ Art 2006 and preparing financial Statements which 8iv¢ a true and fair view of the State of affairs of the charitable Company as at the end of each financial year and of its 5UTplus or deficit for each finan¢tal year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with ihe requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the ¢haritable company. (b) These financial stsiements have prepared in attordance with the provisions applicable to charitable companies subject to the small companies re8ime. The financial statements were approved by the Boprd of TNstees hnd authorlsed ftir issue on and were si8n¢d on it5 behalf by.. R M Pearse. TnJs¢ee The notes form part of these financial statements P¢7
The Gap (Mldlands) Notes to the Flnanelal Stgtements for the Y¢iT Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial st#t¢m¢nts The financial statements of the charitable company> whT¢h is a publi¢ benefit entity under FRS 102, have been prepared irt aeeordance with the Charities SORP (FRS 102) 'A¢¢ounting and Reporting by Charities.. Statement of Recommended Pra¢tic¢ applicable io charities preparing their accounts in #c¢ordante with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effe¢tive l January 2019),. Finan¢ial Reporting Standard 102 The Financial Reporting Standard appli¢able in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under th¢ historical cost convention. Income All income is recognised in the Stotement of Financial Activitie5 once the charity has entitlement to the fimds. 1¢ is probable ihat th¢ in¢ome will be received ond the amount can be rneasur¢d reliably. Expendlture Liabilities ar¢ re¢ognis¢d gs expenditure as soon os there is u legal OT ¢onsiru¢tive obligation committing the charity to that expenditure, it Is probable thai a transfer of economic benefits will be required in Settlement and the amount of the obligation con be measured reliably. Expenditure is 8¢¢ourt¢ed for on an accruals basis and has been classified under headings that aggregate 011 cost related to the category. Where costs ¢8TmOt be directly attributed to partieular headings they have been all(xai¢d to activities on 4 bosis consislenl with the use of resources. Tanglble fixed aets Depreciation is provid¢d at ihe following annual rates in order to write off each asset over its estimat¢d us¢ful lif¢. Fixtures and fittings Computer equipment 250A on reducing balance 25¥• on reducing balan¢¢ Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted fijnds can be used in accordance with the charitsble obje¢lives at the discretion of the trustees. Restri¢¢ed funds ¢an only b¢ used for particular restricted purposes within th¢ objects of the charity. Restrictions aTise when specified by the donor or when funds are rnised for parti¢ular restricted purposes. Further explanaiion of th¢ nature ond purpose of ea¢h fund is included in the noies io the financial statements. OTHER TRADING AcfJviTIES Period 1.8.22 to 31.323 Y¢ar Ended 31J.24 Fundrnising events 2.1100 Page 8 continued...
The Gap (Midlands) N•trs to the FiDaDcial Ststements- eontlnlled for the Year Ended 31 March 2024 INVESTMENf INCOME Period 1.822 io 31.3.23 Y¢r Ended 31J.24 Deposit a¢¢ount interest 673 34 NET INCOMMEXPENDITURE) Net incomel(¢xp¢ndityre) is stad after charwnW(creditsn8): Peri1 1.8.22 to 31.3.23 Yr Ended 31J.24 tkpreciation. 0ed assets 355 TRUSTELS, R£MUNERATION AND BENEFITS There were no ffitste¢s' remuner8tion or other beneffts for the yEar ended 31 March 2024 nor for the period ended 31 Mar¢h 2023. Trnsttts, expenses There wer¢ no trust¢¢s' expenses paid for the yw ended 31 March 2024 nor for the period ended 31 March 2023. STAFF cosrs 7he avernge monthty number of employees dwing the pr was Is follows: Period 1.8.22 Year Ended 31J.24 31.323 Athninistration No ¢mployee5 rKeived emohunents in ¢xce5s of £60,000. conttnued...
The Gap (Mldlands) Notes to the Flnanclal Statements- Cont1ned ror th¢ Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL A1VITIEs Unrestricted funds Restricted ffijnds fimds INCOME AND ENDOWMENTS FROM Donations and le8aei¢s 24.956 3.001 27,957 Invesknent incom¢ 34 34 Total 24.990 3.001 27.991 EXPENDITURE ON Raising funds 3,238 3338 Charitsble #rtlvllks - exp¢nditUT¢ 31.574 14,172 45,746 Total 34.812 14.172 48.984 NET INCOMEJ(EXPENDITURE) (9,822) (11,171) (20.993) RECONCILIATION OF FUNDS Total fjJnd$ brou8hi fon¥ard 7212 16.991 24,203 TOTAL FUNDS CARRIED FORWARD (2,610) 5,820 3210 TANGIBLE FIXED ASSETS Fixtures Computer equipment ring5 Totals COST At l April 2023 and 31 March 2024 3,085 2060 5,445 DEPRECIATION At l April 2023 Charge for year 325 48 369 At 31 March 2024 2.7S1 1354 4.OOS NET BOOK VALUE At 31 Mar¢h 2024 334 1,106 1,440 31 March 2023 445 1.475 1,920 Page 10 continued...
The Gap {Mldlands) Notss to the Flnaneial Statements- eontinved ror tbe Year End¢d 31 March 2024 DEBTORS: AMOus FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Other debtors 2,6S2 500 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade credttors Social security and other tsxes Other ¢r¢ditors Accnjed expenses lJ33 525 404 1.031 2,816 696 696 2,754 4.947 li. MOVEMENT IN FUNDS Net movement in Ojnds Transfers between fijnds At 31.3.24 At 1.4.23 UnrestrICt funds General nd Emergen¢y fund (2,610) 59,023 {io.000) 10,000 46,413 10,000 (2,610) 59.023 56,413 Restrlcted funds Headspace Project Youth Worker Venue Gam¢$ l?61 4,459 1,144 5,000 9,459 S820 63411 12,060 TOTAL FUNDS 3310 65363 68,473 Net mov¢m¢nt in fimds. included in the above are os follows: Incoming resources ResouTces expended Movement in funds Unrestricted funds General fund 93358 (34335) 59,Ill3 Re5trkted funds Headspace Proje¢1 Youth Worker Venue Games 3.000 5,000 loo (1056) 1,144 5,000 96 (4) 8,100 (1,8611) 0240 TOTAL FUNDS 101,358 (36,095) 6S363 Pagell continued...
The Gap (Midland$) Notes to the Flnllneial Statements- continue forthe Year Ended 31 March 21J24 MOVEMENT IN FUNDS- ¢ontlnu CompAr#tives for moY¢m¢nt In funds movement in funds At 31.3.23 At 1.8.22 Unrestrlcted funds General nd 7212 (9.822) (2.610) Rr5trl¢ted fwDds Headspace Project Youth Worker 6,991 10.000 (5.630) (5.541) 1.361 4.459 16,991 (11.171) 5,820 TOTAL FUNDS 24203 (20,993) 3,210 Compardtive net movement in funds. in¢lud¢d in the above ar¢ as follows: InmIng Resources expended Movenwnt in fimts UnT¢s¢rict funds General fund 24.990 (34,812) (9.822) R¢strl¢ted f¥nds Headspace Project Youth Worker 3.001 (8,631) (5.541) (5,630) (5.541) 3,001 (14,172) TOTAL FUNDS 27,991 (48.984) (20,993) RELATED PARTY DISCLOSURES There were no related party transactions foT the year ended 31 Marth 2024. Page 12
The Gap {MldJands) Detalled Stgtement of FlnAncl#l Actlvltles ror th¢ Year Ended 31 March 2024 Period 1.8.22 Yeor Ended 31.324 31.3.23 INCOME AND EIYDOWMEJ¥TS Donatio3 Ind legacie5 Donations and gifts Income tax recovered Grants Donated goods and facilities 57,255 2,652 io,i(Jo 28.678 13.872 1.997 12.088 98.685 27.957 Other trndlng 8etlvltles Fundraising events 2.1100 Investment Incorn¢ Deposii a¢¢ount interest 673 34 TotAI In¢0ml£ resourtes IOlJ58 27,991 EXPENDITURE Raising donation5 and legatles Fundrdising agents $459 3238 Charitable Actlvltles Wages Venue nmning costs Volunteer costs and expense5 Phones and IT Administration and other Repairs and renewals Depreciation of ¢angibl¢ fixed assets 22,068 1,600 9D7 237 4,647 39.345 1.172 973 ,343 .377 456 384 481 29,940 45.050 Support ¢o$ts Governance ¢o$ts ITKlepend¢nt examination 696 696 Total r¢sour¢e$ expended 36,095 48,984 Net incomeJ(expendltur¢) 65,263 (20.993) This page does not forni part of the ststutory financial stat¢m¢nts Page 13