Charity registration number 1136007 Company regl8tratlon numbar 05637748 (England and Wales) GATEWAY CHRISTIAN CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
GATEWAY CHRISTIAN CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustsas J Quintanllla D L'Hem?LLX Dr O Lawal S Freeman M Nyeny8Zi (Apwinted 28 November 2023) secrntsry M Nyenyezl Charlty number 1138007 Company numbér 05637748 Regl6tsr¢d offlco Front Building Bethel Convention Cenlra Kelvin Way VKÈst Bromwlch West Mldland8 B70 7JW
GATEWAY CHRISTIAN CENTRE CONTENTS Pago Trustees, report Indewndent examinels report Statement Df flnancial activities Stat8m8nt of financlal posltion Statement of cash IIow8 Notes to the financlal statements 10-20
GATEWAY CHRISTIAN CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT> FOR THE YEAR ENDED 31 DECEMBER 2023 The trusteas who are also directo of the charity for the purpos88 of the Companies Act 2006, preBent th8lr repK)rt with the flnancial statem8nt8 of the charity f¢x the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practicè appllcable to charitles preparing their account8 in accordance wlth the Fin8n¢lal Reporting Stsndard appllcable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), The report Is a180 prepared lo meet the requirements for a dlrectors, report and accounts for Companies Act purpose8. ObJectlvo8 and actlvltlos Objectlves and alms The charitys objectives are'.- - to a0ance the Gospel of Jesus Christ for the benefit of the public - to functlon as, and operate ministries nomial to. a place of worshlp (i.e. a lo1 Christian church) to prepare and publish Christian educatlon rnalerlals for all ages and review and apwove courses already available to advance the Gospal of Jesus Chrl8t by means of broadc8Stlng me88ages of an evangellcal and taaching nature - to establiBh andlor assist in the astablishment of missions dome8ticalty and abroad, both dlrecty and In conjunctlon with other Individuals and Organisaan$ of like falths and objectlves - to asslst th08e in povety, providing basic human need8 (food, clothing, 8helter, etc.) Slgnlflcant actfvltles 2023 has been a strong yèar ft)r the church. Our attendance has r8mlnded steady and both Sunday momlng services are at capaaty. Financlally have b88n healthy and are continulng to see income growih year on year. We have imported 8 monthly Saturday nlght servi¢e In addition to the weekly Sunday mornlng services. Thls Is to create room for attendance growth and also to add a slightly different style of service t) the church. Saturday night has 8 more relaxed feel and the ser4lce has gone well. Our various ministry teams aren't yet ready to support a weekly Seturday night servlce but once 8 month 15 Striklng a good balance, We have a thriving evangelism mlnistry within the church and several times a month Ihis team mlnlsters eiiher out on the high street of West Bromwich or In the church offering prayer and ministry to people by appointment In the building. This minlstry is proving very fruitlul and helps us in our Christian mandate to 'go Into all the world and preach the gospel,. We saw some staff changes in 2023 but all of these wer8 n8C88sary and healthy. 3 team member8 moved on to other jobs and 3 new people were re(xuited. We dldny necessarlly replace like for like In terms of job role as the needs of the church have changed over recent years but the new team member8 are flttlng in well and the office culture 18 vibrant and healthy. W8 held our first missions trip to Iceland and a team of about 15 people went over there, They were incredibly well ralVed and a number of people becam& Christians as a r8sult. They ministered in 7 churches also and the report have been very encouraging. Plans are well under was for a second visit in early 2024. Our biggest challenge 18 definitety our facillty. We have effectively Dutgrown it and so are actively Seeking a Solution. We hald a 6 month furKI raislng push in 2023 and raised appx. £100,000 designated toward3 a new facilty. This Is a great accomplishment especialty In Ilght of the economic dimale of the y&qr. A big focus of nexi year will be on locating and making Suitable a new church home. idealy v would Ilke somewhere that has an auditorium seating 600-700 and plenty of space for chlldren's and youth minlstry, small groups, media rooms and offices etc.
GATEWAY CHRISTIAN CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Publlc Beneflt The Charlty's activities represent a public benefit In terms of the 8UPPOrt it provides to the members of the tx)ngregation and the fund8 they raSse towards the cost of supporting vulnerable people. The Charlty Trustees are satlsfied that they have complied vrith the duty in Section 17(5) of the Charities Act 2011 to have due regard to the public benefit guldance published by the Commission. Flnanclal revlew Prfnclpal fundlng sources The charity's principle funding source during Ihe year was tha offerings from the congregation and relatsd glft aid received whlch accounted for a total of £730,517 (2022: £630,861) of the £747,475 (2022,. £637,657) total income for the year. The total expenditure during the year of £626,060 (2022: £641,268) included stsff costs of £326,482 (2022: £313,945), who were mainly employed for activitie8 in pursult of the church's oblectives. The balance of expanditure during the year mainly related to running costs for premi8eB used for the provlsion of activities in pursuit of the church's oblective8. Res•rv¢s pollcy The charity has no formal re8enrfes pollcy. The charity's financlal position 18, however, clo8ely monltored by the treasurer and the board of trustees vla monthly income and expenditure reports. Monthly giving contlnue8 to rise as our congregatlon grows. Cash reseries of £218,426 (2022 £102,119) ar8 held for future expenditure in pursult of the charity'8 objectives. Thls includes restricted funds of £99,497 (2022 . £22,428). Total funds carrled forward amountad to £245,588 (2022 £124,173) induding unrestricted funds of £148,091 (2022 . £101,745> and reslricted funds of £99,497 (2022 . £22,428). Future Plans The charlty still has firm plans to secure a permanent facility from whlch the church can operate. structure, governanGe and management Governlng document The charity is controlled by its goveming doujment, a deed of trust, 8nd constitutes a Ilmlted company, limited by guarantee, as defined by the Companies Act 2006. Key managemont remuneratlon Remuneration for key management personnel 18 di3¢ussed and set by A D Colyer. J D Colyer and I Shepherd, with thè oxception of thelr own. and is dependent on the role undertaken. All remuneratlon 18 then agreed by the trustees.
GATEWAY CHRISTIAN CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Rl8k management The trustee8 have a dLty to id8ntty and review the risks to which the charlty is exposed and to ensure appropriate controls are in place to provlde reasonable assurance against fraud and error. Gateway Christian Centre 18 a company limlted by guarantee governed by its Memorandum and Article8 of Association dated 28 November 2005. and the board of trustees is responslb18 for the action8 of Gateway Christian Centre. The Members of the Charfty have agreed to contribute up to £10 in the event of the charlty vAndlng up. The board of trustees 18 made up of people with a mix of pgrsonal and professional ski118 and experience. The board seeks to ensure that th8 balance of skills is appropriate to the ch8rity's purpose and objective8, and takes this into account when approaching Indlvlduals to offer them8elve8 for election. Responslblllty for the day-ttrday leadership and m8nagement ol the charity 19 delegated to Jon Cotyer, 18 8UPPOrted by an 8X8CUtlve committ88 made up of staff members with a wlde range of experience, backgrDunds and ethnldty. REFERENCE AND ADMINISTRATIVE DETAILS Regi8tered Company number 05637748 (England and vles) Reglsternd Charlty number 1136007 Reglstered office Fronl Building Bethel Convention Centra Kelvin Way Wesl Bromwlch West Midlands B70 7JW Trustees Mr J Quintanilla Mr D L'Herroux Mr O Lawal Mr S Freeman Mr M Nyenyazl Company Secretary Mr N Easton resigned 1311112023 Mr M Nyeny8zI appointed 1311112023 Independent Examlner Jerroms GCN Limited Chartered Certified Accountants Èst Point, Second Floor Mucklow Office Park Mucklaw Hill Hale80wen B62 8DY Bankers HSBC The Bridga Walsall We81 Midlands WS11LN
GATEWAY CHRISTIAN CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Thi8 report has been prepared in accordan with the special provisions of Part 15 of the Companles Act 2006 rel8ting to small companies. M Nyenyezi Trusté• 3 July 2024
GATEWAY CHRISTIAN CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GATEWAY CHRISTIAN CENTRE I report to the trustees on my examinatlon of the financial ststemants of Gateway Chrlstian Cerrtre charity for the year ended 31 December 2023. Re8ponslbllltles and ba818 of rnport As the trustees of tha charity (and al80 Its dlr8Ctors for the purpos8s of company law) you are re8pDnsible for the preparation of the flnanclal 8tatements in accordance with the requir8m6nts of the Companle8 Act 20CB (the 2006 Act). Having satlsfied myself that the financial Statements of the charity are not requlred to fle auclrtea under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charltls flnancial statements caffled out under section 145 of the Charities Act 2011 (the 2011 Act). In carying out my examlnation I have followed all th6 applicable Directions glvan by the Charty Commission under sectlon 145{5)(b) of th8 2011 ACL Independ•nt examlnefg Statement Slnce the charit8 gross Income exceeded £250,000 your examiner must ba a member of a body Ilsted in Bection 145 of the 2011 Act. I conflrm that l am qualified to undertak8 Ihe examlnatlon becau8e l am a membar of the AB80ciation of Chartered Certified A¢countant8, which 18 one of the118ted bodies. I have completsd my examination. I contlmi that no matters hava come to my attentlon In connection wlth the examination giving ma cause to believe that In any m8tarlal respect.. accounting records were not kept in respect of the charity as requSred by Bection 386 of the 2006 Act,. or the flnancial 8tatements do not accord wtth Ihose records. or the financial stat8ments do not comply wlth the accounting requlr8rnerrt8 of section 396 of the 2006 Act other than any requiremgnt that the accounts give a true and fair view whlch Is not a matter consldered as part of an independent examination. or the financial statements have not been prepared in accordance wlih the melhods and prlncipleB of the statement of Recommend8d Practice for accounting and reportlng by ch8ritie8 applicable to charities preparlng their eccounts in accordance with the Financial Reporting Standard applicable In the UK ard Republic of Ireland {FRS 102). I have nD concerns and have come across no other matter8 In connection with the examlnation to which attention should be dravm in th18 report in order to enable a proper understsndlng of the financial statam8nts to be reached. Alan Jones FCCA Jerroms GCN Llmited Chartered Certlfied Accountants W8St Point. Second Floor Mucklow Office Park Mucklow Hill Halesowen B62 8DY Date(1: 3 July 2024
GATEWAY CHRISTIAN CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrktsd Restrlctad funds funds 2023 2023 Total Unrestrlctsd Restrlctod funds funds 2022 2022 Total 2023 2022 Note8 Income from: Donations and legacles Other tradlng activitie8 646,587 16.958 83,930 730,517 16,958 622,930 e,996 7,731 630,681 6,996 Total Incom• 663,545 83,930 747,475 629,926 7,731 637,657 Expondlturo on: Raising funds Charltabl• actlvltles 1,631 619.882 1,831 624,429 4,587 636,991 4,277 841,288 Total expendllur8 621,493 4,587 826,060 638,991 4,277 641,268 Nat Incomel{8xpendlturo) 42,052 79,363 121,415 (7,065) 3,454 (3,611) Tran8fer8 between lund8 2,294 (2,294) Net movomgnt In funds 44,348 77,069 121,415 (7,065) 3,454 (3,811) Reconclllatlon of funds: Fund balan3 at 1 January 2023 101,745 22,428 124,173 108,810 18,974 127,784 Fund balan¢06 at 31 December 2023 146.091 99,497 245,588 101,745 22,428 124,173 The notes on pages 10 to 20 form part of thasa financial statements.
GATEWAY CHRISTIAN CENTRE STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 2023 2022 Not88 Flxad assets Intanglbl8 assets Tanglbla assets 11 12 2,598 52.609 3,111 53,818 55,207 56,929 Currnnt assots Stock8 Debtors Cash at bank and In hand 13 14 956 12,067 102,119 10,608 218.426 229,034 115,142 Credltors: amounts falllng due wlthln one yoar 18,572 18,731 Net current a88et8 210,462 96,411 Total assats1088 current Ilabllltle8 265,669 153,340 Credltors: amounts falllng due ahr more than one year 17 {20,081) (29,167) Nat a880ts 245,588 124,173 The funds of tho charlty Restricted income funds Unrestricted funds 99.497 148,091 22,428 101,745 245,588 124,173 The note8 on pagas 10 to 20 form part of these financial stst8ments.
GATEWAY CHRISTIAN CENTRE STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2023 The company is entltled to the exemption from the audit requlrement contained In saction 477 of tha Compan188 Act 2006, for the year ended 31 December 2023. The dlrectors acknoledge thelr respon8ibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The member8 hava not required the company to obtain an audit of its fin8ndal statsment8 for the year in question in arxordance with secJon 476. Those financial 8tatemerrts have been prepared in accordance wlth the provisions applicable to companles subj8Ct to the sm811 companie8 regime. The financl81 statements were approved by the trusle8s on 3 July 2024 yenyezl Trustae Company registration number 05837748 {England and Vvales)
GATEWAY CHRISTIAN CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operatlng actlvltl88 Cash generated from operatlons 24 145,416 12,00 Investlng actlvltles Purthase of intanglble as8et8 Purthasfr of tangible fixed assets (629) (19,234) (21,230) Net cash used In Inv08tlng actlvltlos (19,863) {21,230) Flnanclng actlvlti Repayment of bank laan3 (9,246) (10,000) Net cash used In flnanclng actlvltle8 {9,246) (10,000) Net Increa891(dgcr8asè) In cash and ca8h equlvalants 118,307 (19,221) Ca8h and caBh equivalents at beginning of year 102,119 121,340 Cash and cash equlvalents at end of year 218,426 102,119 The notes on pages 10 to 20 form part of thes8 finandal statements.
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcl88 Charfty Infomiatlon Gateway Chrfstian Centre is a prfvate company Ilmltad by guarantee Incorporated in England and Wale8. The registered office 18 Front Building. B8th81 Convention Centre, Kelvin Way, West Bromwich, Wost Mldland8, B70 7JW. 1.1 Accountlng convenuon The financlal stataments of the charllabla cornpany, Whlch 18 a public benefft entity under FRS 102, have been pr8pared in accordance with the Charrties SORP (FRS 102) 'Accounting and R8POrting by Charltl8S: ststement of Recommended Practice appllcable to charitie8 preparlng their accounts In accordan with the Financlal R8POrting Standard appllcable in the UK and Republic of Ireland (FRS 102) (effectlve 1 January 2019),, Finandal Reporting Standard 102 The Flnancial Reporting Standard applicable in the UK and Republic of Ireland, and the Companles Act 2006. The financial Statements have been prepared under the hlstorical cost convention. The fflnancial 8tatsments are prepared in sterllng, which is the functlonal curreKy of the charity. Monetsry amounts In these financial 8tatement8 are rounded to the nearest £. 1.2 Fund accountlng Unrestricted fund8 can ba used in accordance with the chartable objectives at the dlgcretion of the truBtees. Restrlcted funds can only be used for particular restricted purposes wlthln the objects of the charity. Restrictions arlse when specified by the donor or when funds are raised for particular restricted purp08e8. Further explanation of the nature and purposa of each fund is includèd in the notes to the financial statements. 1.3 Income All Income is recogni98d In the Statement of Flnancial Activitlas once the charity has entitlement to the funds, It18 probable that the Income 111 be received and th8 amount can be measured reliably. iere there are tem)s or conditions attached to incomlng re80urce8, particularly grants, then thes8 terms or conditions must be met before the income is recognised as the entitlement condition will not b& satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant Income IB not recognlsed in the year but deferred and shown on the balance Sheet 8s deferred income. 1.4 Expendlturn Llabilities are recognised as expenditur& as soon as theralg 8 legal or constructlv8 obllgation cornmitting the charity to that expenditure. it is probable that a tr8nsfer of economic benefits will be required in settlement and the amount of the obllgation can be measured reliably. Expenditure 18 accounl8d for on an accruals basis and has been classrfied under headings that aggregate all cost related to the categery. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Allocatlon and apportlonment of costs All costs of th8 charity are deemed to be directly attrlbutable to charitsble actlvltles. 1.5 Intanglble fixed assets other than goodwlll Intangible assets, other than goodwill, include, computer sollware, patents, licences and trad8marks and are staled at Ihe amount initially recognlz8d, le88 accumulated amortisation and accumulated impairment losses. 10-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles {Contlnued) The 8XPeCted useful lives of assets are reviewed on an annual basis arKI, if necessary, thanges In u8eful lives are account8d for prospectively. Comput8r sollware 33.33% reducing balance 1.6 Tanglblo flxed a880ts Tangible fixed assets under the cost model are stated at historical cost less accumulated depreclation and any accumulated impainnent losses. Historlcal cost includes expenditure thal is directly attrlbutable to bringing the asset to the location and conditlon necessary for it to be Cble of operating in the manner Intended by management. Tangible fixed assets are capit81ised If they can be used for more than ono year, arKI c08t at le88t £500. The Charity adds to the carying amount of an item of fixed 89Séts the cost of replacing part of wch an item when th8 Cost 18 incurred, if the replacement part is expected to provide incremental future benefit8 to the Charlty. The carying amount of th8 replaced part 18 derecogni8ed. Repair8 and maintenance are charged to the Statement of Finandal Activities during the Perlod In whlch they ar& Incurred. Depreciation is recognlsed so a8 to write off the cost or valuation of assets less thelr resldual values over thelr US8ful Ilves on the folloThng ba8e8: Plant and 8qulpment Fixture8 and fittings Sound and video equipment 25% reduclng balance 25% reducing balance 33% reduclng balance The gain or loss arising on the disposal of an a&set is d8t8rmined as the difference between the sale proceeds and the carrying value of the assat, and is recognised in the statement of finanGial aGtivitie$. 1.7 stocks Stock8 are valued at the lower of cost and net realisable value, after maklng due allowance for obsolate and slow moving items. 1.8 Taxatlon The charity Is exempt from corporation tsx on its charitable activltles. 1.9 Penslon costs and other post-retlrement beneffts The Ch8rfty op8rates a defined contrlbutlon pension scheme. Contributions payable to tha Charity's pension scheme are charged to the Statement of Financial Actlvltles in the period to which they relate, 11
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donatlons and 18gaclo8 Unrestrlctod Restrlcted funds funds 2023 2023 Totsl Unrestrfcted Restrl¢ted funds funds 2022 2022 Total 2023 2022 Donations and gift8 Gift aid Govemment grants for asset purcha8es 553,148 89,733 83,610 320 636,758 90,053 549,907 73,023 6,583 1,148 558,490 74,171 3,706 3,706 846,587 83,930 730,517 822,930 7,731 830,661 Income from other tradlng actltIeS Unre8trlct•d Unre8trlcted funds funds 2023 2022 Rental incom8 Event Income Sales of clothing 8,390 7,057 1,511 2,080 4,936 other trading activities 16,958 6,996 Expendlturn on ralslng funds Unrostrlcted Unrestrletèd funds funds 2023 2022 Tradlng costs Purchase of clr)thing 1,631 12-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expondlturn on charltabl• a¢tlvltl88 Unrestrfcted Restrlcted funds funds 2023 2023 Total Unre8trlctod Restrlcted funds funds 2022 2022 Tolal 2023 2022 Dlrect costs Stsff costs Depreciation and Impalmant Rent and insurance Light and heat Mi8cellaneou8 Resources and literature Hospltallty and catering Gifi8 etc- mi8sions Gtfts- othar Training Motor, travel and Susbsistence Property renovatlon, repairs and renewals Equlpment purcha8e3, repairs and ranwmls Computer and internet costs Prfnting, statlonery and advertising Telephone and postage Bank Charges Church Trips and events Broadcast charges Safeguarding Team development Speclal project8 Podcasts 326,482 328,482 313,945 313,945 21,585 81,068 47,055 12,199 8,835 18.008 25,212 1,443 809 21,585 81,068 47,055 12.199 8,835 18,008 25,212 1,443 809 21,866 141.637 15,826 10.032 10,433 10.500 19,832 1,874 1,170 21,866 141,637 15,828 10,032 10,433 10,500 22,603 1,874 1,170 2,771 2,338 2,338 828 828 4,567 4,567 1,506 1,506 12,424 12,424 6,605 8,805 13,819 13,819 11,081 11,081 12,638 5,440 1,339 13,651 5,411 12,636 5,440 1,339 13,851 5,411 643 12,926 4,902 1.735 14,806 21,650 12,928 4,902 1,735 14,805 21.850 464 988 8,780 954 986 8,780 954 250 250 610,647 4,567 615,214 832,831 4,277 637,108 Share of support and governancé costs {see note 61 Support 9,215 9.215 4,160 4,160 619,862 4,567 624,429 636.991 4,277 841,288 Anatysls by fund Unr88trict8d fund8 Restricted funds 619,862 619,882 4,567 836,991 636,991 4.277 4,567 4.277 619,862 4,567 824.429 636.991 4,277 641,268 13-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs allocated to actlvltlos 2023 2022 Independent axaminer8 fee Legal and professional fees Bank loan interest 1,932 5,880 1.403 2,016 1,496 9,215 4,160 Analysad twOOn. Charitable expendlture 9,215 4,180 Examlner8 rnmunorntlon 2023 2022 For axamlnors 8ervlce8 Examiners f8a9 1,932 2,016 Trustees Thera were no trustees, remuneration or other benefits for the year ended 31 Dacamber 2023 nor for the year ended 31 December 2022. Trugtoes. oxpenses There were no trustee8' axpense8 paid for the year ended 31 December 2023 nor for the year ended 31 D8¢amb8r 20£2. Employees The average monthty number of employ888 durlng the year was: 2023 Number 2022 Numbor Administration 13 13 Employment costs 2023 2022 Wages and salaries Social securfty cost8 other pension costs 299,774 20,691 6,017 286,535 21,371 6.039 328,482 313,945 There were no employee8 whose annual remuneration was more than £60,000. 14-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 l O Taxatlon The tharity is exempt from taxatlon on it8 activities becausg all Its Incomè 18 applied for charltable Fxirpose8. 11 Intanglblo flxed assets C*)mpul•r softwarg Cost At 1 January 2023 Additions- Intamally developed 6,000 629 At 31 December 2023 6,629 Amort18atlon and Impalrnient At 1 January 2023 Amortlsatlon Charged for the year 2,889 1,142 At 31 December 2023 4,031 Carrylng amount At 31 December 2023 2,598 At 31 December 2022 3,111 12 Tanglblo flxad assets Plant and Flxturns and •qulpm•nt flttlng• Sound •rKI vld•o •qulprnerrt Total Cost At 1 January 2023 Additlons 4,726 2,293 24,382 7,388 138,958 9,573 168,068 19,234 At 31 December 2023 7,019 31,750 148,531 187,300 Depreclatlon and Impalrment At 1 January 2023 Depreciation charged in the year 3.582 477 9.998 4,753 100,868 15,213 114,248 20,443 At 33 December 2023 4,059 14.751 115,881 134,691 Carrylng amount At 31 December 2023 2.960 16,999 32,650 52,609 At 31 December 2022 1,144 14,384 38,290 53,818 15-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Stocks 2023 2022 Finished goods and goods for resale 958 14 Dobtor8 2023 2022 Amounts falllng due wlthln one year: Other debtors Prepayments and accrued Income 2,522 8,086 3.724 8.343 10,608 12,067 16 Loans and ovordraft• 2023 2022 Bank loans 29,921 39,167 Payable within one year Payable after one year 9,840 20,081 10,000 29,167 16 Credftors: amounts falllng due wlthln one year 2023 2022 Notes Bank loan8 Accruals and deferred Income 16 9,840 8,732 10,000 8,731 18.572 18,731 17 Credltors: amounts falllng duo after more than one year 2023 2022 Notes Bank loan3 15 20,081 29.187 18-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Restrlcted funds The restricted fund8 of the charSty comprise the unexpended balances of donations and grants held on trust subjecl to speclfic Conditior by donors as to how they may be used. At 1 January 2023 Incomlng Resources resource8 expended Transferg At31 December 2023 Building fund Trips fund 21.470 958 83,930 (4.587) {2,294) 98.539 958 22.428 83,930 {4,567) (2,294) 99,497 Prevlous y•ar: At 1 January 2022 Incomlng Re8OUfC r080urc08 oxpended Transfers At31 Docembor 2022 Building Fund Mlsslons Fund Trip8 Fund 15,515 2,501 958 7,461 270 (1,508) (2,771) 21,470 958 18,974 7,731 (4,277) 22,428 Bulldlng Fund The purpose of this fund is for the malntenance and upkeep of the building, In addition to the potential future purchase. Mlsslon Fund This fund provides support for various missions in re18tlon to the objectives of the Church. Trlps Fund To mairrtain funds for trIp8 organlsed by the Charlty's member8 for example 'Tha Colours Trip, and 'Flouri8h' 17-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Unrestrlctsd fund8 The unrestrictsd funds of Ihe charity comprls8 th8 unexpended balances of donations and grants which are not subject to speclfic ¢ondltlons by donors and grantors a8 to how Ihey may b8 Used. These include eslgnat8d funds which have been set aside out of unrestrlcted funds by the trusteas for Specific purposes. At l January 2023 Incomlng Rogources resOUe5 expended Trnnsf8rn At31 Dxamber 2023 General Fund Youth Work Fund Events Fun Conlingancy Fund 101,431 227 87 6,488 5,382 1,895 (614,958) (5,470) (1.085) (15.386) 127.575 119 397 18.000 (320) 18,000 101,745 8e3,545 (621,493) 2,294 146,091 Pr•vlou8 year: At 1 January 2022 Incomlng Resources r•source8 axp•nded Tran8fer8 At31 December 2022 Gener81 Fund Youth Work Fund Events Fund 105,483 3,327 824,991 2,797 2,138 {829,043) (5,897) (2.051) 101,431 227 87 108,810 629,926 {636,991) 101,745 20 Analysls of net a880t8 between funds Unrestrfcted funds 2023 Restrlcted funds 2023 Total 2023 Fund balances at 31 December 2023 are representsd by: Int8ngible fixed assets Tangibl8 assets Current ets1[1[abIlItles) Long tsmi liabllitles 2,598 52,609 110.985 {20.081) 2,598 52,809 210,462 (20,081) 99,497 146,091 99.497 245,588 18-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 Analy818 of net assets between funds (Contlnu•dl Unrestrlcted funds 2022 Restrlcted funds 2022 Total 2022 Fund balances at 31 Docemb8r 2022 arn raprn8entsd by: Intangible fixed assets Tangible assetB Current as8etsl(liabilities) Long temi Ilabllttles 3,111 53,818 73.983 (29,167) 3,111 53,818 96,411 (29.16n 22,428 101,745 22,428 124,173 21 Operatlng lea98 commitment8 Lessea The operating le86e8 represent le88es of rant to thlrd partie8. Thè la886S are negotlated over temi6 of 5 years and renla18 are fixed for 5 years. At Ihe reporting end date the charity had outstsndlng commitments for future minimum lease paymantg under noTrcancellable operating lea8e8. whiGh fall due as follows: 2023 2022 Within one year Beeen tsvo and five years 70,995 188,414 68,414 263,005 259,409 331,419 22 EMPLOYEE BENEFIT OBLIGATIONS The charity has recognlsed Ihe foll¢)wing costs in respect of detlnad pension contribution plans £8,017 (2022 £6,039). 23 Ralated party transactlons Therg were no disd03able related party transactlons during the year (2022 - none). 19-
GATEWAY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 24 Cash g8n8ratad from oparatlons 2023 2022 Surplusl(deficit) for the year 121,415 (3,611) Adjustments for.. Depreciation and impaiment of tsnglble flxed assets 21,585 21,886 Movaments in working capital: Decreasel{Increase) In stocks Decreasel(increase) in debtors Increase in creditor8 (956) (10.429) 5,139 1,459 Cash genoratsd from oporatlons 145,416 12,009 26 Analy918 of changes In net fund6 At l January 2023 Cajh flow• At 31 t)qcomb•r 2023 Cash at bank and in hand 102,119 116,307 218,428 Loans falllng due wlthln one year Loans falling due after more than on8 year (10,000) (29,167) 160 9,086 (9,840) {20,081) 82.952 125,553 188,505 -20-