Charlty reglstratlon nUm￿r 1132037 IEngland and Wal&sl
THE GATE READING
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

THE GATE READING
LEGAL AND ADMINISTRATIVE INFORMATION
Trustèes
Y Oyekan
G Owen
M Lews
A Mil¢hell-Baker
R C Baker
G J Bowden
WLee
(Appointed 22 October
20251
Charlty number
1132037
Audltor
Brulon Chades- Chartered Accounlanls
The Coachhouse
Gieys Green business Centre
Henley-on-Thames
Oxfordshire
RG9 40G
RG9 4QG

THE GATE READING
CONTENTS
Page
Trustees, report
Statement of trustees, responsibilities
Independent auditor's report
Statement of financial activities
Balance sheet
Slalement of cash flows
Notes to the financial slalemenls
10-22

THE GATE READING
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JULY2025
The Iruslees present their annual report and financial ststemenls for the year ended 31 July 2025.
The financial statements have been prepared in accordance wth the accounting policies Set out in note 1 to the
financial slalemenls and comply with the church's governing document, the Charities Act 2011, FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting
and Reporting by Charities.. Stslemenl of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021"
Oblectlves and actlvltles
The main objectives of the church are..
1. the advan￿ment of the Christian faith according lo the principles of the Baptist denomination in the United
Kingdom andlor other parts of the worfd as the charity Iruslees think fil",
2. the advancement of education in the United Kingdom andlor other parts of the world as the charity trustees think
fil", an
3. the relief of those in need by reason of youth, age, ill-heallh, disability, financial hardship or other
disadvantage in the United Kingdom andlor other parts of the world as the charty trustees think fit.
The trustees have read the Charity Commission guidance on public benefit, and are satisfied that the activities in
this report dearly demonstrate that the charity is providing a benefit to the public.
Public benefit
The Iruslees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
church should undertake.
Achievements and perforniance
Significant activities and achievements against objectives
The Gate has continued to work to its vision, 'Renewed by the Fathers presence, we are an apostolic chLJrch,
redeeming people, communities and culture,.
Our Sindlesham community in Wokingham has eontinued lo see significant growth including a number of refugees
from the middle east.
Work lo rectrfy defects on the redevelopment of the 'Gale Central, sile remained oulslanding by August 2025 so the
final account has still yet to be completed. To help fund oulstsnding loans on the Gale Central building, we sold
Empress Rd church site and part of the car park to a Romain Orthodox Church. These assets were surplus lo
requirements following the closure of the Reading TLG Centre in 2023.
The pioneering of our new community in Didcol has continued lo progress well.
Our social action atm Love Your Community, including Acorns Nursery School has continued lo thrive and our
second Nursery School, Conkers, which Is located al our Sindlesham has gone from strength 10 51renglh.
The leadership team and trustees are grateful lo the staff for supporting the work of the church throughout the year.
We also would like lo thank everyone who faithfully gave lime and money lo serve the church across all of r(s
ministries.
The Gate maintained ils missional links mainly through working with churches involved in the Turning and
Bamabas Fellowship of Churches. We also continued to support a number of Baptist churches in revitalisalion and
pioneering.
Financial review
Details of the charities income, costs, net incomellexpèndilurel and financial position for the year can be found on
pages 7 and 8 and the supporting notes.

THE GATE READING
TRUSTEES. REPORT ICONTINUED
FOR THE YEAR ENDED 31 JULY2025
Reserve$ policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves
al this level will ensure that, in the event of a significant drop in funding, they will be able lo continue the charity's
current activities while consideration is given lo ways In which additional funds may be raised This level of reserves
was not maintained continuously throughout the year due to cash-flow pressures from the building project, however
they are beginning lo recover.
Major risks
Thè trustees have assessed thè major risks to which the ¢hur¢h is exposed, and are Satisfied that systems arg in
place to mitigate exposure to the major risks.
Structure, governance and management
The Gale Reading Iformerfy Reading Community Church) is affiliated to the Baptist Union. The church's premises
are held in trust by the Baptist Union Corporation Limited. The church's constitution was adopted on 1 July 2009 as
amended by special resolution on 23 August 2009. The church became a registered charity with the Charity
Commission England and Wales on 7 October 2009 Icharity number.. 11320371.
The Iruslees who served during the year and up to the dale of signature of the financial slalements were".
Y Oyekan
G Owen
M Lewis
A Mitchell-Baker
R C Baker
G J Bowden
R Silley
WLee
(Resigned 22 September 20241
(Appointed 22 October 20251
The Iruslees, report was approved by the Board of Trustees.
Y Oyekan
Trustee
7 May 2026

THE GATE READING
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY2025
The ITuslees are responsible for preparing the TTUStees' Report and the financial stslemenls in accordance with
8ppli¢able law and United Kingdom A¢¢ounling Standards (United Kingdom Generally A¢¢epled A¢¢ounling
Praclicel.
The law applicable lo charities in England and Wales requires the trustees to prepare financial slalements for each
financial year which give a true and fair view of the stsle of affairs of the church and of the incoming resources and
application of resources of the church for that year.
In preparing these financial slalements, the trustees are required lo..
select suitsble accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject lo any material departures disclosed
and explained in the financial slatemenls., and
prepare the financial statements on the going concem basis unless il is inappropriate lo presume that the charty
will continue in operation.
The trustees are responsible for keeping sufticient accounting records that disclose with reasonable accuracy al any
lime the financial position of the church and enable them to ensure that the financial slalements comply with the
charib.es Act 2011, the charity (Accounts and Reportsl Regulations 2008 and the provisions of the trust deed. They
are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the
prevenb'on and detection of fraud and other irregularities.

THE GATE READING
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE GATE READING
Opinion
We have audited the financial statements of THE GATE READING Ithe 'church'l for the year ended 31 July 2025
which Comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the
financial statements, including significant accounting Policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial stalemenls..
give a true and fair view of the slate of the charity's affairs as at 31 July 2025 and of ils incoming resources
and application of resoLJrces, for the year then ended.,
have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,.
and
have been prepared in accordance with the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditorts ￿sponSIbl11￿1eS for the audit of
the financial statements section of our report. We are independent of the church in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities In accordance wth these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slalements, we have concluded that the Iruslees, use of the going concern basis of
accounting in the preparation of the financial stslemenls is appropriate.
Based on the work we have performed, we have not identified any material Ljncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the church's ability to continue as a going
concern for a period of at least h￿e1ve months from when the financial slalements are authorised for issue.
Our re5ponsibililies and the responsibilities of the trustees wlh respect lo going concem are de￿ribed in the
relevant sections of this report.
other inforrnation
The other information comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information contained within the annual
report. Our opinion on the financial slalements does not cover the other infomialion and we do not express any fomi
of assuran￿ condusion Ihereon. Our responsibility is to read the other informatlon and, in doing so, consider
whether the other infomiation is materially inconsistent wlh the financial statements or our kno￿edge obtained in
the course of the audit, or otherwise appears lo be materially misslaled. If we identify such material inconsistencies
or apparent material misslatemenls, we are required to determine whether this gives rise to a material misslalemenl
in the financi81 statements themselves. If, based on the work we have performed, we conclude that there Is a
material misslatemenl of this other information, we are required lo report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation lo which the Charities (Accounts and
RepDrtsl Regulations 2008 requires us lo report lo you if, in our Dpinion..
the Information givèn in the financial slalements is ineonsislenl in any material respect with the trustees.
report", or
sufficient awunting records have not been kept.. or
the financial statements are not in agreement with the accounting records., or
we have not received all the infomation and explanations we require for our audit.

THE GATE READING
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE GATE READING
Responsibilities of tru$tee$
As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as
the Iruslees determine is ￿e￿ssary lo enable the preparation of financial statements that are free from material
misslatemenl, whether due to fraud or error. In preparing the financial statements, the Iruslees are responsible for
assessing the church's ability lo continue as a going concern, disdosing, as applicable, matters related lo going
concein and using the going concern basis of accounting unless the tiuslees either intend lo cease operations, or
have no realistic alternative bul to do so.
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditor undèr section 144 of the Charities Act 2011 and report in accordance wth the
Act and relevant regulations made or having effect thereunder.
Our objertives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delect a material misstalemenl when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or In the aggregate, they could reasonably be expected to Influence
the economic deusions of users taken on the basis of these financial slatemenls.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
A further description of our responsibilities is available on the Financial Reporb'ng Council's website at.. https.'Il
www.trc.org.uklauditorsresponsibililies. This description forms part of our auditor's report.
Other matters
Your attention is drawn lo the fa¢t that the charity has prepared financial slalements in accordance with "A¢¢ounling
and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporb"ng Standard applicable in the UK and Republic of Ireland IFRS 1021" las
amended) in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice Issued
on 1 April 2005 which Is referred to in the extant regulations bul has now been withdrawn.
This has been done in order for the financial slalements lo provide a true and fair view in accordance with current
Generally Accepted Accounting Practice.
Use of our report
This report is made solely lo the charity's trustees. as a body. in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees
those matters we are required lo state to them in an auditor's report and for no other purpose. To the fullest extent
permilled by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Neil Major (Senior Statutory Auditor)
For and on behalf of Bruton Charles, Stslulory Auditor
Chartered Accountsnts
The Coach House
Greys Green Business Centre
Henley-on-Thames
Oxfordshire
RG9 4QG
7 May 2026

THE GATE READING
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE GATE READING
Btuton Chades is eligible for appointment as auditor of the ehureh by virtue of its eligibility for appointment 88
8udilor of a company under section 1212 of the Companies Act 2006.

THE GATE READING
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY2025
Unre$trlct9d Rg$trlcted
funds
funds
2025
2025
Totsl
Unrestrlcted Restrlcted
funds
funds
2024
2024
Totsl
2025
2024
Notes
Income from:
Donations and
legacies
Charitsble activities
Investments
355,482
4,227
271,345
626,827
4,227
340,598
8,033
800
259,825
600,423
8,033
816
16
Total Income
359,714
271,345
631,059
349,431
259.841
609,272
enditure on-
Raising funds
2,435
2,435
Charitable activities
302,497
141,484
443,981
312,583
196,640
509,223
Total expendlturg
302,497
141,484
443,981
312,583
199.075
511,658
Profil on disposal of
fixed assets
10
268,771
268,771
Net incoming resources
before transfers
57,217
398,632
455,849
36,848
60,766
97,614
Gross transfers
between funds
930,403
1930,4031
446,372
1446,3721
Net incomellexpenditurel
for the yearl
Net movement In fund$
987,620
1531,7711
455,849
483,220
1385,6061
97,614
Fund balances at 1 August
2024
3,873,144
871,277 4,744,421
3,389,924
1.256.883 4,646,807
Fund balances at 31 July
2025
4,860,764
339,506
5,200,270
3,873,144
871,277 4,744,421
The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from conts"nuing aclivilie5.

THE GATE READING
BALANCE SHEET
AS AT31 JULY2025
2025
2024
Notes
Fixed asset5
Tangible assets
13
6,612,544
7,137,654
Current assets
Debtors
Cash al bank and in hand
14
64,794
105,620
78.177
62,498
170,414
140,675
Creditors- amounts falling due within
one year
15
148,5541
183,2631
Net current assets
121,860
57,412
Total assets less current liabilities
6,734,404
7,195,068
Creditors: amounts falllng duo after
more than one year
16
11,534,134)
12,450,645)
Nat assets oxcluding pgnsion liabilty
5,200,270
4,744,421
Net assets
5,200,270
4,744,421
The funds of the church
Restricted income funds
Unrestricted funds
18
19
339,506
4,860.784
871,277
3,873,144
5,200,270
4,744,421
The financial statements were approved by the trustees on 7 May 2026
Y Oyekan
Trustee

THE GATE READING
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY2025
2025
2024
Notes
Cash flows from operatlng actlvlt19$
Cash generated from operations
22
319,914
634,174
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment Income received
122,5471
1523,2241
816,271
816
Net cash generated fromllused in)
investing activities
793,729
1522,4081
Financing activities
Cash Inflowl loufflowl from borrowings
Loan interest paid
1950,1201
1120,4011
17,311
1153,6661
Net cash used In flnanclng actlvltles
11,070,521)
1136,3551
Net increaselldecreasel in cash and cash
equivalents
43,122
124,5891
Cash and cash equivalents at beginning of year
62,498
87,087
Cash and ¢a$h gqulvalents at 9nd of ygar
105.620
62,498

THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2025
Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the church's goveming document, the
Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
and the Charities SORP "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 IFRS 1021 The church is a Public Benefit Entity as defined by
FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to
the extent required lo provide a true and fair view. This departure has involved following the Slalement of
Recommended Practice for charities applying FRS 102 rather than the version of the Slalement of
Recommended Practice which Is referred to in the Regulations bul which has since been wrthdrawn.
The financial statements are prepared in sterling, which is the functional currency of the church. Monetary
amounts In these financial slalements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention, Imodified to indude the
revaluation of freehold properb.es and to include investment properties and certain financial instruments al fair
valuel. The principal accounting policies adopted are sel out below.
1.2 Going concern
At the time of approving the financial slalements, the trustees have a reasonable expectslion that the church
has adequate resources to continue in operational existen￿ for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the finanaal slalements.
1.4 In¢ome
Income is recognised when the church is legally entitled lo il after any performance Conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the church has been notified
of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in
relation lo donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation.
Legacies are recognised on re￿Ipl or otherwise if the church has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
10-

THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Accountlng poll¢l&s
Icontlnugd)
1.5 Expenditure
Expendrture is recognised once there is a legal or constructive obligation lo transfer economic benefit lo
third party, il is probable that a transfer of economic benefits wll be required in selllemenl, and the arnounl of
the obligation can be measured reliably.
Expend(ture is classified by aclivily. The costs of each activity are made up of the lolal of direct costs and
shared costs, including support costs involved in undertaking each aclivily. Direct costs attributsble lo a single
activity are allocated directly to that activity. Shared Costs which contribute to more than one activity and
support costs which are not attributsble to a single activity are apportioned bebNeen those activities on a basis
consistent with the use of resources. Central stsff costs are allocated on the basis of lime spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tanglble flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Freehold land and buildings
Motor vehicles
Not depreciated, see note 13 commentary
20°A on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and Is recognised in the slalement of finanaal adivibes.
1.7 Impaimient of fixad assots
At each reporting end dale, the church reviews the carrying amounts of ils tangible assets lo determine
whether there is any indication that those a55et5 have suffered an Impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order lo detemiine the extent of the impairment
loss lif any).
1.8 Cash and cash gqulvalents
Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-lerm liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
within botrowing5 In current liabilities.
1.9 Financial instruments
The church has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its finanaal instrLJments.
Financial instruments are recognised in the church's balan￿ sheet when the church becomes paty to the
contractual provisions of the instrument.
Financial assets and liabilib.es are offset, with the net amounts presented in the financial slatemenls, when
the￿ is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a nel
basis or to realise the asset and settle the liability SIMU￿8neOU$Iy.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured al
transaction price including transaction costs and are subsequently carried at am0￿Sed cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured al the present value of the future receipts discounted al a market rate of interest. Financial assets
classified as receivable within one year are not amortssed.

THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Accountlng poll¢l&s
Icontlnugd)
Basic financial liabilities
Basic financial Iiabililies, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt Instrument is measured al the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried al amortised cost, using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassilied as current liabilities If payment is due wlhin one
year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al
transaction price and subsequently measured al amortised cost using the effective interest method.
1.10 Employee benefits
The cost of any unused holiday enlillement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the church is demonstrably committed
to temiinate the employment of an employee or to provide termination benefits.
1.11 Rgtlrement bgngfits
Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due.
12-

)￿000
> CQ C
) (O DI
00(n
(r> ui r

THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Charitable activities
2025
2024
Ministry income
4,227
8,033
Income from Investments
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Interest receivable
800
16
816
Ralslng funds
Total Restricted
funds
2025
2024
Fundraisin
and ublicil
Building project fundraising costs
2,435
2,435
14-

THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Charitable activities
Unrestricted Restricted
Charitable Charitable
Expenditure Expenditure
2025
2025
Total
2025
Unrestricted Restricted
Charitable Charitable
Expenditure Expenditure
2024
2024
Total
2024
Staff costs
Depreciation of tangible
fixed assets
Building project
expenses
Other staff costs
Youth work
Catering & Events
Families & Children
Premises expenses
Minibus & Travel
Grants lo institutions
Grants lo Individuals
Legal lees
IT costs
Bank charges
Interest payable
Subscriptions
Audit and accountancy
Sundry expenses
156,197
156,197
190,276
190,276
158
158
197
197
19,457
19,457
9,864
4.467
5,065
2,590
90,959
2,425
15,814
18,077
18,077
5,024
7,093
6,033
3,409
83,166
3,882
19,992
2,906
4,320
1,175
1,084
153,668
2,761
5,578
9,864
4,467
4,983
2,590
90,959
2,425
15.814
5,024
7.093
5,358
3.409
64,503
3,882
17.430
300
4,320
1,175
890
82
675
18,863
2,562
2,606
1,200
1,200
3,058
1,068
120,401
4,148
5,764
1,348
3,058
882
186
120,401
194
153,666
4,148
5,764
1,346
2,761
5,576
586
302,497
141,484
443,981
312,583
196,640
509,223
Support costs a$ part of
above charitable costs
IT costs
Premises expenses
Bank charges
Interest payable
Subscriptions
Audit and accountancy
Sundry expenses
3.058
90,959
882
3.058
90,959
1,068
120,401
4,148
5,764
1,346
1.175
64,503
890
1,175
83,166
1,084
153,666
2,761
5,576
18,663
194
153,666
186
120,401
4,148
5,764
1,346
2,761
5.576
586
106,157
120,587
228,744
75,491
172,523
248,014
Net movement In funds
202S
2024
The net movement in funds is slated after chargingllcredilingl".
Fees payable for the audit of the charity's financial slalements
Depreciation of owned tangible fixed assets
5,250
158
5,100
197
15-

THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Trustees. Remuneration and Benefits
Mr Yinka Oyekan received a salary of £45,244 12024 - £45,244} and Mr Garelh Owen received 8 salary of
£30,29812024 - £30,298).
Trustees who are employees are reimbursed minor amounts of expenses in their role as employees.
Employees
The average monthly number of employees during the year was..
2025
Number
2024
Number
Employment costs
2025
2024
Wages and salaries
Social security costs
Other pension costs
141,165
8,562
6,470
172,802
9,459
8,015
156,197
190,276
There were no employees whose annual remuneratlon was more than £60,000.
10 Profit on disposals of fixed assots
Restrlcted
funds
2025
Restrlcted
funds
2024
Gainslllossesl arising on..
Part disposal of properties
268,771
11 Taxation
The charity is exempl from lax on income and gains falling within section 505 of the Taxes A¢t 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects.
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THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
12 Transfers between funds
When fixed asset5 are purchased, where fund raising for these is classed as a reslricled aclivily, Ir8nsfers are
made from reslricled lo unreslricled funds for the value of this expenditu￿ when il is paid and no longer
funded by loan finance. Other transfers may be made by the trustees between funds, for example where the
need lo finance a deficit on a reslricled fund arises, reslrided funds have been lawfully released and residue
funds can be transferred lo unrestricted funds or where the donor or charity law permits funds that have been
restricted to be used for unreslricled purposes.
13 Tanglble flxed assets
Fréèhold land Motor vehlcl8S
and bulldlngs
Totsl
Cost
At 1 August 2024
Additions
Disposals
7,136,868
22,547
1547,5001
3,755
7,140,623
22,547
1547,5001
At 31 July 2025
6,611,915
3,755
6,615,670
Depreciation and impaimient
At 1 August 2024
Depreciation charged in the year
2,968
158
2,968
158
At 31 July 2025
3,126
3,126
Carrylng amount
At 31 July 2025
6,611,915
629
6,612,544
At 31 July 2024
7,136,867
787
7,137,654
Included within the Freehold Land and Buildings above are the following properties and their net book values..
The Gale - Central.. £5,359,415, 12024.. £5,336,867)., The Gate - Empress Road.. £227,500,12024'.£775,0001,'
The Gale- Sindlesham'.£1,025,000,12024'.£1,025,0001.
No depreciation is provided on the Freehold Properties 85 the charty has in Pla￿ a comprehensive
programme of propety maintenance and repairs for the properties and the market value of the properties is
deemed lo be not below the carrying value shown within these a¢¢ounls.
14 Debtors
202S
2024
Amounts falling due within one year:
other debtors
Prepayments and accrueil income
63,258
1,536
76,978
1,199
64,794
78,177
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THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
15 Creditors.. amounts falling due within one year
2025
2024
Borrowings
Accruals and deferred income
43,304
5,250
76,913
6,350
48,554
83,263
16 Credltors.. amounts falllng due after more than one year
202S
2024
other creditors
1,534,134
2,450,645
The above long term creditors as at 31 July 2025 include..
A loan due lo the Baptist Union amounting to £1,273,438 in lolal., £1,234,134 is disclosed within the long temi
creditors and £39,304 is disclosed within short temi creditors. Interest only is being paid on this loan as al the
year end and interest was being charged between 5.250kn 10 7.000kn during the year. ending in 5.25% as at 31
July 2025.
Many interest free loans from the congregation tolalling £292,000 with no set repayment dates or terms.
These include a loans from Trustees- Yinka Oyekan £5,000 and A Mitchell Baker £22,000.
A loan due lo the Southern Counties Baptist Association amounting lo £12,000 in lolal, £8,000 is disclosed
within long term creditors and £4,000 is disclosed wlhin short term creditors. This loan is interest free and the
repayment temis are that £4,000 per annum is lo be repaid.
17 Retlrement beneflt schemes
202S
2024
Defined contribution schemes
Charge to profil or loss in respect of defined contribution schemes
6,470
8,015
The church operates a defined conlributs.on pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the church in an independently administered fund.
18 Restricted funds
The reslricled funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
At 1 August
2024
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At 31 July
2025
871,277
271,345
1141,4841
1930,4031
268,771
339,50S
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THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
18 R9StrI￿ed funds
Icontlnugd)
Previous year:
At 1 August
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31 July
2024
1,256,883
259,841
1199,0751
1446,3721
871,277
19 Unrgstricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At l August
2024
Incomlng
resources
Resources
expended
Transfers
At31 July
2025
Designated - Sindlesham Bank
activity
General funds
544
3.872.600
10,438
349,276
17,3241
1295,1731
3,658
4,857,106
930.403
3,873,144
359,714
1302,4971
930,403
4,860,764
Prevlous year:
At 1 August
2023
Incoming
resources
Resources
expended
Transfers
At 31 July
2024
Designated - Sindlesham Bank
activity
General funds
21,050
3,368,874
13,573
335,858
114,0791
1298,5041
12Q,0001
466,372
544
3,872,600
3.389,924
349,431
1312,5831
446.372
3,873,144
The designated fund above represents a bank account of Sindlesham Church and the activity for the year in
respect of properties rented out al that sile.
20 Analysis of net assets between funds
Unrestricted
funds
2025
Restricted
funds
2025
Total
2025
At 31 July 2025:
Tangible assets
Current asselsllliabilitiesl
Long term liabilities
4,806,976
53,788
1,805,568
6,612,544
68.072
121,860
11,534,134) 11,534,134)
4,860,764
339,506
5,200,270
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THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
20 Analysls of net assets b&tween funds
Icontlnugd)
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 July 2024-
Tangible assets
Current assets]Iliabilitiesl
Long term liabilities
3,834,309
3,303,345
7,137,654
38,836
18,576
57,412
111 12,450,6441 12,450,645)
3,873,144
871,277
4,744,421
As part of the above unrestricted current assetsl liabilities funds £3,658 relates to designated funds held in
resped of the Sindlesham bank accounls12024'. £5441.
21 Related party transactions
Transactions with related parties
During the year the church entered into the following transactions with related parties..
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THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
21 Rglated party transa￿￿On5
Icontlnugd)
The church is associated ￿rith Barnabas Fellowship of Churches, to which it donated £11.880 during the year,
12024 £19,992). Garelh Owen is a trustee and 4 staff members received retainers form BFOC for their work.
The Gale Reading church is assoaaled with The Gale Building Development Company Ltd Icompany
number.. 122727151 wth a common director. The church has contracted with the company in relation to the
redevelopment of its sile in Reading. Payments madè lo TGBDC during the year amounted lo £22,54712024".
£128,868). The value of the outstanding invoices owed to TGBDC as 8131 July 2025 is £5,812 12024". £NIll.
Amounts acctued as owing to TGBDC are £Nil as at the year end and are included in the payments figure
above12024.' £Nill.
The church is associated with Love Your Community (company limited by guarantee and charity
number.'11726251 of which they are the controlling member, and there is also common trustee. Love Your
Community paid rent and services of £25,000 to the church during the year12024.' £24,0001.
The church support the Emmaus Project registered as an Amula in Israel and the amount donated during the
year was £3,33412024." £1,000). Garelh Owen is an Amula member.
During the year a number of trustees loaned funds lo the charity in respect of ils building project, for more
detsils refer lo note 16.
22 Cash generated from operatlons
2025
2024
Surplus for the year
455.849
97,614
Adjustments for..
Investment income recognised in statement of financial activf(ies
Loan interest paid
Gain on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
151
120,401
1268.7711
158
18161
153,668
197
Movements in working capital..
Decrease in debtors
(Decreasellincrease in creditors
13,382
11,1001
383,358
155
Cash generated from operations
319,914
634,174
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THE GATE READING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
23 Analysi$ of changes in net Idebtlmunds
At 1 August 2024
Cash flows At 31 July 2025
Cash at bank and in hand
62,498
43,122
105,620
Loans due
12,527,558)
950,120
11,577,438)
12,465,060)
993,242
11,471,818)
-22-