DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST (A Company Llmited by Guarantee) ACCOUNTS 31 March 2024 Company no: 06857427 Charlty no: 1140440
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 CONTENTS Page DIRECTORS. REPORT INDEPENDENT AUDITORS, REPORT TO THE MEMBERS STATEMENT OF FINANCIAL ACTIVITIES 10 BALANCE SHEET CASH FLOW STATEMENT 12 NOTES TO THE ACCOUNTS 13-23
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST DIRECTORS, REPORT The diredors present their report and Ihe accounts for the year ended 31 March 2024. The directors of the company fulfil a similar role lo that of Trustees of an unincorForated charity and are therelore referred to as 'trustees' throughout this report. LEGAL AND ADMINISTRATIVE INFORMATION The company is a company limited by guarantee and does not have Sha capital. The company was incorporated on 24 March 2009 and it was registered as a charity on 15 February 2011. Audltors Reglstered Office HazlewLx)ds LLP Windsor House Bayshill Road Chellenham GLSO 3AT Third Floor 95 The Promenade Chellènham GL50 1HH Bankers Solicitors Unity Trust Bank plc 4 Brindley Place Birmingham 81 2JB Wiggin Osbome Fulledove 95 The Promenade Chellenham GL50 1HH GOVERNANCE AND MANAGEMENT Govemlng do¢ument The Gloucestershire Galeway Trust {"GGfi is a company wlh charitable objects. which was established using Ihe Charity Commission's model Memorandum and Articles of Association. Trustees The trustees serving during the year and Sin the year end were as fdlows.. Ms J E White Mr S Pallister Mr M J Simon Ms P Levett MrRFAlen Bishop R W Springett Ms M Smith Company Secretary Mr l J Simpson Chief Executive Mr M Gale The procedures for the appointment and removal of trustees are set out in the company's Arbcles of Association.
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST DIRECTORS, REPORT GOVERNANCE AND MANAGEMENT Iconllnuedl Organlsatlonal structure The company s affairs are managed by a Board of trustees who are drawn from local communily-based organisations. granl-making trusts and appropriate business backgrounds. Day lo day responsibility for the operation of the company is delegated to the Chief Executs've. Mark Gale. Rlsk management The trustees have a duty lo identify and review the risks to which the charity is exFosed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and eiror. The trustees have implemented and maintained an active risk register. PRINCIPAL ACTIVITY AND OBJECTIVES Objectives and alms The charitable objects of GGT include the follon9 objects: The promots'on for the benefit of the public of urban or Nral regeneration in areas of social and economic deprivation (and in particular in Glouce5ter5hirel by all or any of the following means= the relief of financial hardship the Telief of unemployment the advancement of education. training or retraining, particularly among unemployed peopl8, providing unemployed people with work expenence the creation of training and employment opportunities by the provision of workspace. buildings. andlor land for use on favourablè terms The promotion for the benefit of the public of the conservation. protection and improvement of the physical and natural enwronment The advancement of the education of the public in the conseNation, protection and improvement of the physical and natural enwronment The promotion of sustainable development for the benefit of the public by- invdvement in and support of projects whith prioritise the preservation, conservation and the protection of the environment and the prudent use of resources the relief of poverty and the improvemenl of the conditions of life in socially and economically disadvantaged communities,. and the promotion of sustainable means of achieving economic growth and regeneration. (Suslainable development means development which meets the needs of the present without comprcmnising the ability of future generations lo meet their own needs)
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST DIRECTORS, REPORT PRINCIPAL ACTMTY AND OBJECTIVES (Contlnued Objectlves and alms (Contlnued) The advancement of the education of the public in subjeds relating lo sustsinable developmenl and the protection. enhancement and rehabilitation of the environment The advancemenl of education The advanc8menl of community development The protection and improvement of the environment The relief of povety The advancement of public health and safety Any such other objects and purposes as are exclusively charitable in accordan th the laws of England and Wales. The truslees confimi that they have referred lo the Charity CommissDn's guidan on public beneffit when reviewing the Trust's aims and objectives in planning future activities. Public Benefit GGT is focus8J on tackling disadvantage. povety. promoting education and sustainable development in Gloucestershire. GGT has community regeneration at its heart and applies fijnds received for charitable b8nefit to deliver substantial long-tem charitable outputs. Through its unique partnership with Gloucestershire Gateway Limited. the operating company of Gloucester Services. a Motorway Services business located on the M5 in Glouceslershire, the Trust works to encourage people living in its Target Communities near to the motorway to find jobs al the Services ar)d elsewhere by supporting community enterprise initiatives and providing free pre*mployment training for Iccal FEopIe. GGT provides financial and practical support to enable community and economic development activity in Gloucestershire particulady our Target Communi118s of Matson and Robinswood, White Cily. Podsmead, Tuffley and Stonehouse. and the surrounding areas in the GL10 postctsje The trustees confinn that they hav8 complied with the duty set out in section 4 of the Charities Act 2006. to have due regard to the public benefit guidance published by the Charty Commission. REVIEW OF ACTNITIES 2023124 has been another year where GGT has never been so active and this has ensured the Trusts impact on life for residents and partners locally has been Ihe greatest it has ever been. In the communities where our trust focuses ils resources - Matson, Robinswood, While City, Podsmead, Tuffley in Gloucester and Slonehouse the new and Ihe established resident and community nelworks and actions have never been so important.
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST DIRECTORS, REPORT REVIEW OF ACTIVITIES (conllnuedl Bottom up responses across communities built on the trust and relationships that GGT has long invested in has enabled changing community responses which will SUPFOrt the long term resilience with our partners working more cohesively than ever before. Our Trusts role during this period has remained locality focused providing both capacity support lo new and 8XlSting neighbourhood neOrkS and coalitions whilsl also 5UPPOrting direct practical support for'.- 1. Blackbridge Charitable Community Benefit Society and its development of the £6 million Blackbridge Youth, Community and Sports Hub. By long term development 5UPPOrt and a cornmilment to provide £100,000 per annum of underwriting for youth activities provision from 2025126 for 4 years until 2028129 GGT enablèd th8 Blackbridge CCBS lo secure £6.2 million lo cover the build and fit out of the building. Building work started in January 2024 and should be completed and opened in the last quarter of 2024125 2. Infiuencing the strategic commissioning strategies of public bodies so they better value community capacity building , mutuality and residents lived exp8riences. This has led to a large community based consortiums led by GGT securing 2 new major contracts from Gloucestershire County Council to provide open access youth services and lo manage and develop 9 Childn and Family Centres both across the Gloucesler and Forest of Dean districts. These contracts will start in 2024125_ 3. Resident activity to promote well being and mutual support 4. Supporting oty wide food slralegies whilst also conlinuing to investing in practic81 community food initiatives such as the nelworks of 'community food cuboards and freezers,, growing inilialives, emergency shopping vouchers provided through the Household Support Fund and holiday food and activilies provision 5. Providing leaming and employment opportunities through projecls such as Multiply adult numeracy delivery. the SPARK project which GGT manages on behalf of another wide community Consortium and the development of the Blackbridge Charitable Community Benefit Soaety based in Podsmead which holds a strong and innovative focus on jobs and training opportunities The Channel 4 series of 6 programmes about GIoUSter Servi$ ¢alled a 'Colswold Famishop aired during the SummerlAutumn of 2023 and shone a light on the achievements of the business and the b8nefits it has enabled. This provided a great boost lo our communities who initiated the business, our colleagues and to sales land consequently to our GGT income which is derived from Ihese sales). As part of our economic and soal SUPFQrt activity we have supported community coalitions organising neighbourhcod led responses to the challenges they have faced. As part of this process we have develoFed a partnership vehide Gloucestershire Galeway Partnership CIC to host resident led initiatives where helpful. We have SUPFQrted residents in building on their strengths and connections and helping communities influence commissioners and other decision makers so that inveslment in our neighbourhoods is more effective and sUPPOrtS SU51ainable improvement. We continue to be excited by the work lo support the development of local changemakers of the Hotspots Alliance funded by Thity Percy which partners GGT with the Grace Network. GL11. Fair Shares Community Timebanks, Gloucester Community Builders Collects've and Thirty Percy. Communlty Reslllence In 2023124 each of our 12 core partn8rs received annual Community Development Grdnts frc GGT as part of our commitment to support them until al least March 2025.. The partners receiving this financial support are..
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST DIRECTORS, REPORT Malson Robinswood & White Crty Community Partnership Read With Me GL4 {a cultural development organisation) GL Communities- Fair Shares Timebanks- Play Gloucestershire., Gloucestershire Wildlifé Trust., All Pulling Together {APTI CIC.. Nelson Trust Women's Centre Together in Matson The Venture. While City Malson & Robinswood Residents Group During 2023124 GGT also provided additional one-off support to a wde range of partners for activilies in or connected to our larget communities. GGT has also signfficanlly shtfted some of our organisational cap8oty to support the Podsmead community and help support the new community led organisalion the Blackbridge Charitsble Community Benefit Society which addressing local public health inequalities, improving Youth Service provision and responding to residents priontisalion of supporting young people lo create the communilies they want. This is 8 new mulli million pound project which will begin lo make a real impact in 2024125 after the site is opened and Ihe full youth work team is in pla. GGT'S work including our investment in our local partners has for many years been focused on building local resilience by connecling neighbour to neighbour, supporting community hubs and ServIS and encouraging residents and partners lo lake the lead in local plans and activities. These infomial connedions together with our small team of part time Neighbourho¢JJ Connectors in our LOOP (Looking Out for Others Potentiall project have made an important contribub'on to the resilience of our communities as they come to terns with their 'new rrmal. FQSt COVID and ils long tail of negative impacts locally. Dunng this period GGT also invested significant capacity in supporting residents in Pojsmead through the Podsmead Big LocallPBL) and with the development of a new organisats'on the Blackbridge Charitable Community Benefit Society which is the legacy organisation for PBL and has been developing as a MMunity anchor organisath. Prlnclpal fundlng sources GIoUsterShlre Gateway Trust's wholly owned subsidiary company, Gloucestershire Gateway Trust (Operalingl Limited is a shareholder of Gloucestershire Gateway Limited. the operating company of Gloucester Sérvices. 2023124 saw Gloucester Services North and Southtound trading actiwties continue lo perform well and provide substantial unrestricted funds for the work of GGT. This was again GGT'S prinupal source of unrestricted income during 2023124 has been the receipt of these donations. In 2023124 the Trust also received an income from counter colleclion poinls al Gloucester Services, enablin9 customers to make d1ct donats'ons to the work of GGT and its partners. Finally GGT could not have had Ihe impact it did in such a challenging period with out the support of the Gloucestershire County Counol. Gloucester City Council and Thirty Percy along with many other generous individual and organisational donations. Our thanks go lo our community partners for Ihe brilliant jobs they have done and to our funding partners who have stood with us in another exceplional year.
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST DIRECTORS, REPORT RESERVES POLICY The trustees are mindfijl that unreslricled reserves are needed lo enable the Charitable Company lo cover six months. core funding and subsequent redundancy liability of the CEO together with contingency for early exil grants to existing charity partners. This is to manage any existing partnerships and commitments to a successful condusion and exil. should the royally payments from Gloucestershiie Gateway Trust (Operating) Limited significantly reduce or cease for any reason. The Iru5tees' intention is to ensure a general reserve sufficient to meet these costs is maintained. The charity has frée reserves at the year end of £419.294. ACCOUNTING AND REPORTING RESPONSIBILITIES The directors are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors lo prepare financial slatemenls for each financial year. Under that law, the directors have elected lo prepare the financial stalements in accordance with United Kingdom Ger)erally Accepted Accounting Practice (Uniled Kingdom Standards and applicable lawl. Under company law. the directors must not approve the financial slalements unless they are satisfied that they give a true and fair view of the slate of affairs of the company and of th8 profil or loss of the company for that peri(xl. In preparing these financial ststements, Ihe directors are required to- select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent- prepare the financial statements on the going concem basis unless it is inappropriate lo assume that the wnpany will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company s transactiorss and disclose with reasonable accuracy at any lime the finanaal posits.on of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and olher irregularities. This rewl has b&en prepared in accordanc* with the special prowsions relating to small companiés within Part 15 of the Companies Act 2006. f4(L Mr S Pallister- Chaimian
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS Oplnlon We have audited the finarKial 5taternents ofGb)ucestershire Gateway Trust for the yearerthd 31 March 2024, which comprise the Charity Slatement ol Financi81 ActSvities. the Charity Balance Sheet and Notes to Ihe Fina91 Statemgnls. including a sumrnaryof significant accounting polic. The financial rgporiing framgwork that has been ped in their preparation is applicable law and United Kingdom Accountsng Standards, Induding Financial R8po.ng Stsndard 102 'The Finanryal Reportiro Standard applicat8 In the UK and Republic of Ireland, (United Kingdom Generally Accepted Ac£ounting Practice), This report is made solely io thg charilable companY5 members. as a body. in accordanc8 wilh Chapter 3 01 Part 16 of the CpanIeS Acl 2006. Our audtt work has been undertaken so that we might slate to the charttable comp8ny s membèrs those mattèrs WÈ arè required 10 Slate io thèrn in an audiior's rèport and lor no oth9r Fxjrpose. To the fijllesl extent permrtted by law, we do ngt accept or assume respgnsibility lo anyone other than the charitable company and the CAJmpany's Mefflrs as a bc¥Jy, for our 8udil work. for this report, for thè tspnbns w8 have lormèd. In our opinlon Ihè financial $tatèm8nts'. give 8 true and fair VMV of the slate of Ihg tharrtab companys affairs as * 31 March 2024 01 its incoming résources and appllcab.on of $r¢e$, indw1ing ts In(¥yne And expenditure, for the ye¥ then ended., have been prOY prepared in acrdance with United Kirbgdom Generally kcepled AcUnting Pra¢ti¢é.' and have been prèp8r8d in acAwd8ncè wth Ihè rÈouSrèmènts of ihè Cempaniès Acl 2006. Basls for oplnlon Wè conducied tyJr audit in aectsrdancé with Inièm8lh)nal Standards on Audillng IUKI IISAS IUKII and appliGable law. Our rgsponsibilrtlgs under those stan(Jards arg furthef in thg Auditors responsibilth"95 for ihe audit of the financial statèments sèctK)n of our report. Wè arè independènt of the tharilable company in accordance with Ihe gthical requirements that are relevanl tg our audil ol th9 financial slalemgnts in th8 UK, induding thè FRC'S Ethical Standard. and WÈ havè fiJlfill8d our other Èthical responsibilitiès in acCOance with these requirements. We believe that Ihe audit evidence we have obtained Is sUffiCnt and apprwate lo Pfovwje a basis lor our opinion. Coneluslon r•l•tlng to golng eone•m Wè have nothing to rèFw)rt in r8spect of thg fdlowiTrJ matt•rs in r8lab.on to which ISAS ILIKI réqui u$ to report to you where., the directors. usè of thè goiro nCOM basb of awuntirKJ in th8 preparath)n of the finandal statements is not appfopriate., or the direelofs have not disdosed in the financial statements any identified material uncenainties that may cast signrfiLnt doubt abtsut th6 charita* cornp8ny's ability to conth.nuè to adopt th8 Ing concem basis of accounting lor a pèriod of at least tw&fv& months from the date wh&n the financial statements are oulhorised lor issue. Other Infomiatlon The InJsltrtrs are resp)nsible for th• other infomiab"on. Th6 other #thmtiOn comprises tha inf0mtion induded in tho annual report. other than the financial statements and Jr alltorfS rewrt thereon. Our opinion on the fin8ndal statements does not cover the other infomiation and, except lo the extent OtheISe explicrfly statod in our raport, w8 th) not express any form of assuranco conclush)n th•feOn. In connecbon th our aL1t of the financial statements. our responsibillty Is io read the other informatlon and, in dng 50. consid8r whether the olher Informati is materially inconsistent wrth th8 financial statements or Ouf knowledge obtained in Ihe audll orotherwise appears to be materially mlsstated. If we identify such malerlal inoMsistenoes or apparent malerial misstaiem8nts. we are required to delemine whether ther8 is a material mi5slatement in the financial statements or a material misstatemenl ol the other inlomiation. If. based on Ihe work we have perfomied. we condude that the i8 a materlal mlsstalemenl of tht5 other inform8licm. we are required lo report thal fact. We have rthIng lo report In Ihls regard.
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS Oplnlon on other mattor pro8crlbed by th• Compan1•8 Act 2006 In our opinion, based on the work undertaken in the course of the audit.. th8 Information given Ihe Report of lh$ Trustees for th8 financial year for whlch the finand¥l statements are prepared is consistent wth the financial stalements.. and the Report of the Tnjstees have been prepared in 8ccordance with applicable legal fequiTerrEnts. Matters on which we are required to report by exception In the lighl of our knOwdge and understsnding of the charitable company and its envSronment oblained in the course ofth8 audit, we have rKt idenbfied malen'al misstatements in Ihe Report of lh8 Trustee8. We have nothing to report in resp8¢1 of the 10lbng matter5 where the Ccmnpanles Act 2CK)6 requires us lo report to you if, in our opinion.. adequate accountlng records have rA)t been kepl by Ihe parent thnP8ny. or reium$ adequa lor o audit have not been received from branches not V15iled by us.. or the Charitab cornpany financaal Ststennts are not in agreement iih the accounting records and relums.. or Cerfain disclosurgs oldireciors. r8munoralon sp8cified by law are not made.. or we have not received all the information and explanations we require for OLJr audit. Re$pon8lbllltlo$ of tr1?9¥ As explained rne fully in the InJstee'8 respon8ibililies 8talemenl sel 1 on page 7. the truslees are resFA)nsible for Ihe preparation ol Ihe financial statements and for being salJ"sfied thal they give a tnje and lak view. and lor such inlemal conlrol as Ihe directors delermine is n8cessary lo enable the prgparalion of financsal ststements that are free from malerial mi55ts1emenl, whelher due lo fraud or error. In preparing the financial slalemenls, the trustees are resnSIble for asse55irvJ the Chartsb companys 8bilily lo conlinLJe as a going Cern. disclosing. as 8PtAi¢abSe. Matte related io going concern and using thè goiNJ conctrn basis ol accountin9 un1è55 th8 dir8clors èithèr intènd io liquidai? the charllable company c to wse operations. CY have all5 ahewnative bul k) do so. Auditor's rg¥pon¥ibilili•¥ for thg audit of thg financial ¥tst•mgnt¥ Our obj8dtves are to obtain reasonable assurance about whether the finantial gtatèments as a wh(Aè are free from material misstaiemenl. whether due lo fraud or error. and to issue an auditor's report ih81 ineludes our opinion. Re859nablg alJrance is a high level ol a55urance, but 15 nol a guarantee that an audit conduded in accordancè with ISAS IUKI will always deieci a matèrial misstatement when it Èxists. Misstatsmènts can arisè Irom fraud or error and arè eonsidered material il, indivKJually or in the aggfegate, they could reasonably b• eXP8Ct8d to influencè thè 8cu)omic d•cisTrons of usèrs takèn on thè basis ol th financial stat&m8nts. A further déscnpb.on of our pOnsIlitI¥¥ for th* OLKlit of th• lin•no81 $t4t¥m¢nts is ILVtwl on th¥ Finan81 R&portiThJ Council's w8bsit8 at vM¥.frc.org.ukJauditorsrestrt)nsibilikn"8s. This d8scripts.on forms part of our auditor's repott
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 GLOUCESTERSHIRE GATEWAY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS Extent to whlch tho audltor was cons5dored capablo of dot•ct5ng Irregularl#6, Includlng fraud Owing to the inherent limitations of an au¢Jit, there is an unavoidable risk that material misstatements in Ihe financial slatements may not be detecled. even though Ihe audil Is properly pl8nnlng and performed In accordance with the ISA'S IUKI. In identifying and a5sessSng rfsks of m31erfal mlssiatement in respect ol fraud. incI1r0 irregularftles nonv compliance wth laws and regulations our procedures included Ihe folbwing., We obtained an understanding of the legal arbd regulatory frameworks ap1¢able lo the thantable company finarKial ststemenls or Iha¢ had a fundamenlal effecl on the CharItsb ccffipany 5 operatM)n5. We delermined that the rst signfficant laws and regulations induded UK GMP, UK Cofflparbies Act 2006 arbd Charities Acl 2011. We undersiood how thè chari18ble company 15 complying with those legal and regu1810ry frameths by rnaking inquiries of management. those responsible for legal and compliance procedures. We assessed the suscepbbility of the charitable companys financial statements to material mSSstaftt. indudlng how fraud mhJhtoctur. Audil YO¢edu perf0mj by Ihe erg8gemeni team included.. Idenlifying And assesslng the design effe¢Yveness ol ¢Ontrds m8nagemeni has in 8¢e to pvent and detect fraud: Underslanding how management considered and addressal the Potential for override of controls. Detalled 8nalysls of journals [sted thrcugh the 8ccounbng system during Ihe ye8r lo 31 March 2024 has been undertaken., Underslanding the contrds in pqace to prevent and detect fvaud. Reliance was not placed on controls lor the enurety ol the audlt. insle8d t8king 8 substantive testing approach, however controls we In place to prgvent fraud and Ihey appeared to be working effectivety. Challenging assumpb'ons aThY ju¢J3ements made by managemenl in its svjnificanl &CuntIng estsmales. Martin Howard IS&nior Statsjtory Auditor) For on behalf of Hazbgwwjs LLP. $tory Auditor Windsor House Bayshill Road Chellènham GL50 3AT 19/12/2024 Date-.
D(Ku$kJn Enwl(¥)010.. 6rx)M13240184CD3.87WAF9B1F2C79aB STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2024 Unrestricted Restri¢ted Total funds funds funds 2024 2024 2024 Unrestri¢ted funds 2023 Reslri¢ted lunds 2023 Total funds 2023 Noto INCOME AND EXPENDITURE Incomlng resources Volunlary income 710 069 1097 777 656 032 1266 420 TOTAL INCOMING RESOURCES 710 069 1097 777 1266 420 Resources expended Charitable activitie5 693 395 1056 613 569 699 593 659 1 163 358 TOTAL RESOURCES EXPENDED 693 395 1056 613 593 659 1163 358 NET INCOMING RESOURCES FOR THE YEAR 16.674 24,490 41.164 86,333 16.729 103.062 Transfér between reservés Rgtained for the year 46.132 (4.9681 41.164 128,090 125,028) 103,062 Accumulated surplus brought forward at beginning of year as restated 381 111 468 929 253 021 ACCUMULATED FUND CARRIED FORWARD AT END OF YEAR All actNilies of the company are conlinuing actiwties. there were no acquisitions in the year. There We no COgnised gains or losses other than Ihe surplus for the year shown above. 10-
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 BALANCE SHEET 31 March 2024 2024 2023 Nole FIXED ASSETS Tangible assets Investrnents 7,948 3,438 3,439 CURRENT ASSETS Cash al bank and in hand Debtors 343,362 340,506 437,758 287,480 683,868 725,238 cREDoRs due wilhin one year 10 (54,391) 1141.184) NET CURRENT ASSETS 629,477 584,054 TOTAL ASSETS LESS CURRENT LIABILITIES £637,426 £587.493 CREDrroRS due after more than one year 11 127,333 118.564 RESERVES Accumulated surplus lunrestrictedl Restricted funds Designated fund 13 13 13 427,243 82.850 381,111 87.818 Total funds 510.093 468.929 TOTAL FUNDS AND LONG-TERM LIABILITIES £637.426 £587.493 The directors acknoimedge their r8sFonsibility for ensuring the o)mpany keeps prorer accounting records which comply with Section 386 of the Act and for preparing finanual statements which give a true and fair view of the slate of affairs of the company at the end of the financial year and of ils profit or10s5 for the financial year in accordan with the requirements of Sections 394 and 395, and which olhemise comply with the requirements of the Companies Act 2006 relaling to accounts, so far as applicable lo the company. These financial statements have been prepad in accordance with the special provisions relating to companies subject lo the Small Companies Regime within part 15 of the Companies Act 2006. 19112/2024 Approved bythe board forissue on........................ PdLbsh Mr S Pallister- Chaimian
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 CASH FLOW STATEMENT 31 March 2024 2024 2023 Cash used in operating activities Nel cash provided by operating activities 39,759 (62,2271 Cash flows from InvestSng actlvltles Purchase of tangible fixed assets 17.3921 {3,4381 Cash usod in invosling activities (7,392) {3,4381 Cash flows from flnanclng actlvltles Interest paid Repayment of borrowng Interest received 19.3801 1119,3971 2,014 {8,7641 (99,4481 2,418 Net cash provlded by l (used In) flnanclng actlvltles 1126.763) 1105,7941 Changè In cash and cash equivalents In the year 194.396) (171.459) Cash and cash equivalents broughi foThvard 437,758 609,217 Total cash and cash equlvalents carrSed fonvard 343.362 437.758 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTivrriES Net movement in fijnds 41,164 103,062 Adjustrnents for: Finance incorne Finance cost Depreciation (Increas8ydecrease in debtors Increasel(d8crease) in credilors 12,0141 9,380 2,882 153,0261 41,373 {2,4181 9,464 (179,7711 7,436 Net cash provlded by operatlng actlvlties 39,759 (62.2271 12
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 ACCOUNTING POLICIES Basls of preparatlon and assessment of golng concern. The accounts Ifinanaal slalements) have been ppared under the historical cost convention with ilems recognised at cost or transaction value unless otherwise Staled in the relevant nolelsl to these accounts. The financial stalemenls have been p pared in accordance with the second edition of the Charib'es Statement of Recommended Praclice issued in October 2019, the Finanual Reporting Stsndard applicable in the United Kingdom and Republic of Iland (FRS 1021 and Ihe Charilies Act 2011. The trust consbtutes a public benefit entity as defined by FRS 102. The Irustees consider that there are no material uncertainties about the Trust's ability to continue as 8 going concem. Judgements The Trustees consider that there are no key areas ofjudgemenl or estimale UnrtaInty to be disclosed in these finanoal statements. Incoming re$our¢os Donations. gifts and legacSes represent amounts received during the year, together with any associated lax refund. Gifts in kind for use by the charity are recognised as incoming resources when receivable at a reasonable estimate of their value. Assets given for distribution are only recognised when distributed. Grants receivable for SpefiC purposes are credited lo the statement of financial activities in the year to which they relate as soon as condition5 for reIpt have been met. Unspent balances are Caled forward to subsequent years within reslricled funds. Grants for immediate financial support received against costs previously incurred are recognised immediately ir) the Stslement of Financial Activities. Voluntary income is shown gross before deduction of fvnd-raisin9 expenditure. Resources expended All expendilure is accounted for under the accruals concepl. The irrecoverable element of Value Added Tax is included within the item of expense to which it relates. Funds General unrestricled funds comprise accumulaled surpluses and deficits on general activilies. They are available for use al the discrelion of the Iruslees in furthefance of Ihe charity's objectives. Restricled funds comprise accumulated fvnds which are subject lo specific conditions imposed by the donorlsl- 13
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the year ended 31 March 2024 ACCOUNTING POLICIES (Conllnuedl Cash and cash equivalents Cash and cash equivalents compris8 cash on hand and call deposits, and other short- term highly liquid inveslmenls that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Dopre¢latlon Depreciation is calculaled lo wrile off the cost less eslimaled residual value of tangible assels over their estimated useful lives al the following rates per annum.. Computer 8qLJipm8nl Plant and equipment 33.3Q/o of cost, and are fijlly depreeialed 33.3Q/o of cost Flxed asset Investments Fixed asset investments are staled at historical cost less prowsion for any diminution in value. Exemptlon from preparlng group accounts The company is part of a small group. The company has taken advantage of the exemption provided by Section 399 of the Companies Ad 2006 and has not prepared group accounts. Going concern The charitable company is meeting its day-lo-day costs from voluntary income and its cash balances. The directors have prepared forecasts that show that, on the basis of this continuing, it will be able to conlinue as a going concern for at least the next twelve months and have therefore prepared the financial slalements on the going concem basis. 14
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 INCOMING RESOURCES 2024 2023 Unrestricted funds Donations from Gloucestershi Gateway Trust {Opero1ingl Limiled Other donalions received Consultancy income Inveslment income 688,OCKJ 735 19,320 2,014 640,200 13,414 2.418 710,069 £656,032 Restrlcted funds Donations received GEM project income Household support Thirty Percy SPARK Other restricted funds 373.539 197.184 131,374 88,334 48,000 120,OC(J 39.665 £387,708 £610.388 Total income £1,097,7T7 £1,266.420 15
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 RESOURCES EXPENDED 2024 2023 Dlrect charltable - unre$trl¢ted funds Community education and development L¢xal evenl and hospitality costs Growing project costs Employment supwrt New Pilot projects Contribution lo Gloucester Services staff bus Staff costs 316,335 15,929 13,000 6,163 52,912 297.068 7.951 4,612 15.682 21,6(M) 21,600 151,630 115.1 Totsl direct charitable - unrestricted funds £577,569 £468,569 Support costs- unrestricted funds Rent l utilities Legal and professional fees Telephone and postage office supplies and ststbonery Marketing and advertising Travelling and subsistence expenses Insurance Publications and subscriptions Accountancy and bookkeeping fees Training Volunteer expenses Finance charges Bank charges Depreciation Staff costs 11,021 12,322 1,513 1.464 906 8,888 1.461 3.280 3,763 5,910 1,936 15,963 520 3,376 9,380 1.4 6.083 1.841 15.691 780 1,730 21.654 244 2,882 45,408 37.082 Total SUPFKJrt costs- unrestricted funds £115,826 £101.130 Total unregtrlcted funds expendlture £693.395 £569.699 Also included within the above is auditors remuneration of £6,000 (2023 - £6,000). 16
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 RESOURCES EXPENDED Iconlinued) 2024 2023 Restricted funds GEM Project Staff costs Accommodation and room rental Consultancy fees Telephone and p051age Office supplies, stats'onery and publicalions Travel expenses Marketing and advertising 283,388 11,091 33.953 1.642 12,000 2,259 7,449 832 Total GEM project expendlture £832 £331,782 Thirty Percy Charitable payments 120,007 59,885 Tolal Thlrty Percy expendlture £120,007 £59,885 Other Restricted Funds Other costs incurred within the terms of the donats'on Staff costs 62.973 42.622 48.276 Total other donations oxpondituro £111.249 £42,622 Household Support Programme Purchases and distribution of food and activity cost 131,130 159,370 Tolal Household Support oxpendlture £131.130 £159.370 Tolal restrlthd fund expendlture £363.218 £593,659 Total expenditure £1,056.613 £1,163,358 17
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 TRANSFER BETWEEN RESERVES In February 2016, the Department for Work & Pensions (DWP} the Managing Authority for the GEM Project, confirmed that a simplified cost option Meth had been selecled for all indired costs related to the project,. this is calculated at a flat rate of 15°k of direct staff costs incurred on the GEM Projecl. No evidence or other calculation is required by owp. TAXATION The company does not trade for profrt,. therefore, no corporalion tax liability arises on its resulls. STAFF COSTS Unrestricted Restrlcted funds funds 2024 2024 Total Unrestrfcted Reslricted funds funds funds 2024 2023 2023 Total lunds 2023 Wages and salaries Employer's NICS Payroll charges Pension costs 175.139 14.805 531 6.3 43,207 3,512 218,346 18,317 531 8.120 134,965 12.107 346 4.820 237,045 17,569 935 7,839 372.010 29.676 1.281 12,659 1,557 197.038 48,276 245,314 £152.238 £263.388 £415.626 Staff costs for Unre5tricled FurTrds have been allocated between Charitable and Support costs depending on the ath"vilies undertaken by the relevant staff member. The average number of persons employed by the charity during the year was.. 2024 No. 2023 No. Unrestricted funds Restricted funds 14 During the year, no employees eamed £60.000 or more12023 - £nil). 18
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 TANGIBLE FIXED ASSETS Plant and equlpment Cost At 1 April 2023 Additions 3.438 7,392 At 31 March 2024 10,830 D•preciatlon At 1 Aprll 2023 Depreciation during the year 2.882 At 31 March 2024 2.882 Net book value At 31 March 2024 £7.948 At 31 March 2023 £ 3.438 All assèts are used for dI¢t charitable purposes and all additions were Èought into use after the period end. 19
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 INVESTMENTS HELD AS FIXED ASSETS 2024 2023 Shares in group undertakings The company owns 100°k of Ihe ordinary share capital of GIouc8Stershir8 Galeway Trust {Operalingl Limiled. The profit for Ihe financial period to 31 March 2024 of Gloucestershi Gateway Trust (Operating) Limited was £640.244 and the aggregate amount of capital and reserves at the end of Ihe period was £1. Gloucestershire Galeway Trusl (Operating) Limiled has Ihe same registered office as Gloucestershi Galeway Trusl. DEBTORS 2024 2023 Donations from Gloucestershire Gateway Trust Ioperatingl Limited Prepayment Other debtors 338,OC(J 138,01 132,OlJO 17.480 £ 340,5C6 £ 287.480 10 CREDITORS duo in Igss than ono-year 2024 2023 Accruals and deferred income Loan from Charity Bank 54,391 21,787 119,397 £54,391 £141.184 20-
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the year ended 31 March 2024 11 CREDITORS due after more than one-year 2024 2023 Loan from Tudor Trusl 127,333 118.564 £127,333 £ 118,564 Repayment of the loan from Tudor Trust was conditional UFon obtaining planning pemiission to proceed with the Motorway Service Area. Total repayments are dependent on future cash flows arising from the Service Area. The value of the liability has been detemined by use of a discounted cash flow model for which the key inpuls a the estimated future cashflows and the rate al these are discounted. A discount rate of 7.39% has been delemined taking into account various factors including duration of the agreement and a benchmark risk free rate. 12 LIMITED LIABILITY STATUS The cnpanY is limited by guarantee. 21
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 13 FUNDS Unrestrlcted funds 2024 Re8trlcted funds 2024 Deslgnated Total funds funds 2024 2024 Balance brought fofward Surplus for the year Transfers 381,111 16,674 29.458 87,818 24.490 (29.4581 468,929 41,164 £427.243 £82.850 £510,093 Unrestricted funds 2023 Restrlcted funds 2023 Deslgnated funds 2023 Totsl funds 2023 Balan brought forward Surplus for the year Transfers 223.021 86.333 71.757 112.846 16.729 (41.7571 30.000 365,867 103,062 130,0001 £381.111 £87.818 £468,929 The Trustees had sel up a designated fund for the purposes of selling aside dosure costs in relation to the GEM project. These costs w8r8 incurred during the y8ar. 22-
DrKkJn En¥el(w ID.. 6D03A13240184CD347BO-AF9B1F2C79 NOTES TO THE ACCOUNTS for the yèar ended 31 March 2024 Analysls of Rostrfctsd Fund Movement8 Balance Balance 31 March 2024 Incoming Rèsourees Transfer to resources expended UnrestrScted 2023 GEM projecl Thirty Percy HotsFQt Alliance SPARK Household Support Programme GCC Market Town Project Multiply Project Other Projecls (8321 832 46.423 88,334 48,000 1120,007) 112,0001 14,750 36,000 37.006 131,374 1131,130) 113.250} 24,000 5.450 {1.0611 120,000 199,2491 118.101} 1.061 8,100 £87.818 387,708 1£363.2181 {£29.4581 £82,850 As explained further in Note 4. some costs were transferred from restricted to unrestricted funds during the year. 14 RELATED PARTY TRANSACTIONS There were no related paty transactions in the year to 31 March 2024. 15 TRUSTEES, EXPENSES No Trustee rec£ived or waived any emoluments during the year and the company paid expenses of £nil {2023'. £nil} lo its tnjslees. 16 OPERATING LEASE COMMITMENTS The total of futur8 minimum18as8 P8ym8nts is as follows.. 2024 2023 Not later than one year 6.533 6,533 Later than one year and not laler than five years 6,533 6,533 The amount of nonrycancellable operating lease paymenls recognised as an expense during the year was £6,53312023 - £6533). 23-