# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **GATEWAY WATERSIDE**
(Charitable Incorporated Organisation)
## **CHARITY REGISTRATION No. 1143971**
Independent Examiners Ltd
2 Broadbridge Business Centre
Delling Lane Bosham West Sussex PO18 8NF
1
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GATEWAY WATERSIDE
(CHARITABLE INCORPORATED ORGANISATION)
CONTENTS
Page 3 Legal and Administrative Information
Page 4 to 5 Trustees' Report
Page 6 Statement of Financial Activities
Page 7 Balance Sheet
Pages 8 to 13 Notes to the Financial Statements
Page 14 Independent Examiner's Report
**----- End of picture text -----**
2
**GATEWAY WATERSIDE**
**(CHARITABLE INCORPORATED ORGANISATION)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1143971 **LEGAL STATUS** Charitable Incorporated Organisation **START OF FINANCIAL YEAR** 1st April 2021 **END OF FINANCIAL YEAR** 31st March 2022 **TRUSTEES AT 31ST MARCH 2022** Dr Sharon Mellings (Chair) David Norbury Anthony Hodder Nathan Hussey Kathryn Holmes (appointed 15th November 2021) Andrew Clarke (resigned 21st March 2022) Sandra Whittaker (resigned 24th May 2021) **CHURCH LEADERS** Mr. Tim Lockwood (Senior Minister) Pastor Danni Lockwood (Senior Minister) Pastor Charlotte Willett (Site Pastor) Pastor James Willett (Site Pastor) Mr Tony Hodder (Overseer) Mr Sean Cullen (Overseer) Mrs Dawn Cullen (Overseer) Mr Brian Perry (Overseer) Mrs Melanie Perry (Overseer) **GOVERNING DOCUMENT** CIO - Foundation Conversion dated 4th March, 2020
## **OBJECTS**
**(A)** TO ADVANCE THE CHRISTIAN FAITH IN ACCORDANCE WITH THE STATEMENT OF BELIEFS IN THE SCHEDULE HERETO ATTACHED IN SUCH PARTS OF HAMPSHIRE, THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT.
**(B)** TO RELIEVE PERSONS WHO ARE IN CONDITIONS OF NEED, FINANCIAL HARDSHIP OR SICKNESS AND WHO MAY BE AGED AND TO RELIEVE THE DISTRESS CAUSED THEREBY IN THE SAID LOCATION AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT.
**(C)** TO ADVANCE EDUCATION ON THE BASIS OF CHRISTIAN PRINCIPLES IN THE SAID LOCATION AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT;
**(D)** TO PROVIDE OR ASSIST IN THE PROVISION OF FACILITIES IN THE INTERESTS OF SOCIAL WELFARE FOR RECREATION OR OTHER LEISURE TIME OCCUPATION OF INDIVIDUALS WHO HAVE NEED OF SUCH FACILITIES BY REASON OF THEIR YOUTH, AGE, INFIRMITY OR DISABILITY, FINANCIAL HARDSHIP OR SOCIAL CIRCUMSTANCES WITH THE OBJECT OF IMPROVING THEIR CONDITIONS OF LIFE.
|**REGISTERED ADDRESS**|1 Badgers Walk|
|---|---|
||Dibden Purlieu|
||Southampton|
||SO45 4BU|
|**PRIMARY BANKERS**|HSBC Bank Plc|
||45 Commercial Road|
||Southampton|
||SO40 3AH|
|**INDEPENDENT EXAMINER**|Independent Examiners Ltd|
||2 Broadbridge Business Centre|
||Delling Lane|
||Bosham|
||West Sussex|
||PO18 8NF|
3
## **GATEWAY WATERSIDE (CHARITABLE INCORPORATED ORGANISATION)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022**
This is the annual report for Gateway Waterside (previously known as New Forest Community Church), Registered charity no. 1143971, a Charitable Incorporated Organisation. This report covers the period from 1st April 2021 to 31st March 2022.
The objectives of the trust are advancement of the Christian Faith, including worship, preaching of the Christian Gospel, the pastoral care of Christian people, and providing relief to persons who are in need.
Gateway Waterside has fulfilled its objectives through a range of activities. These include weekly public meetings, small group gatherings for Christian discipleship, teaching, training, and supporting people with specific interests to pursue opportunities for ministry at home and abroad.
## **Staff Receiving a Salary**
To further the objectives of the charity there are three employed members of staff. The Senior minister Tim Lockwood, the Site Pastor Charlotte Willett and the Administrator Samantha Gough, all are employed on a part time basis. No employees receive over £60,000.
## **Activities**
The start of the financial year was again limited by constant Government lockdowns as the spread and effects of Covid19 continued to cause global problems. During this time the church continued to operate online and began where possible to do outdoor gatherings once a month at an open air arena at Sunneyfields Farm.
The Church continued to hold monthly meetings at the Farm, until October when weekly Sunday morning meetings reopened.
Gateway also continued to support "Christians Against Poverty" (CAP), by providing a local CAP Centre with Tony Hodder as centre manager for Marchwood and District. CAP Is a registered charity which provides support for people in debt. Tony Hodder, together with other church members, obtains Information from potential clients, which allows CAP to generate a plan for debt repayment or, if this is not sustainable, an appropriate form of insolvency. Local church members continue to provide support to clients as they progress to becoming debt free, with several clients successfully completing the process & becoming debt free. Due to pandemic phone calls and zoom meetings were arranged and used.
Church members also supported local food banks, with regular collections of food. We also supported “The Crossings” which is a charity that works in helping people who have accommodation needs. This includes the homeless as well as those having to “sofa surf”. The crossings provide a safe access point for advice and mediation. The church financially gives to this project as well as the Manager and some trustees being members of Gateway Waterside.
The church also supported mission work in Kenya which has continued through the year. Gateway Waterside actively supports the Salem orphanage for about 100 children, located in Bondo on the shore of Lake Victoria, 50 miles west of Kisumu. Andy & Sam Clarke liaise with the orphanage through Phoebe Onyango the head of the orphanage. This work is supported in conjunction with the charity Phoebe’s family (Charity number: 1173109), who review how donations are administered in Kenya.
The church also supports work of the Mission Aviation Fellowship (MAF) in Papua New Guinea by giving financial support to a family closely connected to the church.
In April communication was had with a church in Fareham called Fareham Community Church to partner with them. There Pastors were retiring and asked if they could partner with Gateway Waterside and share the senior Pastors Tim and Danni Lockwood. After careful consideration the trustees agreed to enter into this partnership. It was agreed that both churches would remain as independent charities. Fareham Community church changed its charity name to Gateway Fareham and its church name to Gateway Church Fareham to mirror the name and branding of Gateway Church Waterside. Tim Lockwood’s hours in line with the hours he could work for Gateway Waterside were reduced and Danni Lockwood was employed by Gateway Fareham as she took on a paid position to accommodate the extra workload looking after both churches. In order to support Gateway Waterside, a Site pastor was employed (Charlotte Willett) on a 16 hour contract. Joint meetings and other partnership operations are already benefiting both charities, as experience, expertise and resources are more easily shared.
As two separate charities, all decisions and financial commitments remain at the discretion of the trustees at each location and the relevant articles of association procedures. The trustees are in communication with each other and are committed to working together on joint decisions as and when they need to be made.
Financially the charity remains in a difficult period due in part to Covid and the challenges of meeting together again after a prolonged absence, meaning that the charity made a loss over the financial year.. However reserves still remain in a very healthy position. Majority of our reserves are invested in different funds (Please see the balance sheet for more details) These investments were ethically invested in line with the charity's values including investing into a social housing charity called Green Pastures that provides accommodation for the homeless. These investments performed well over the year and helped to balance the decline in general income. Over the year the investments produced a good return for the charity. Please see the balance sheet for more details.
4
GATEWAY WATERSIDe
(CHAREfABLE INCORPOPATED oRGANAn0*)
REPORT PF THE TRUsTEEs(CtsNThUOd1
FOR THE YEAR ENDED YIJT MARCH 2022
Re*4rv•$ Pollty
Thc Tstee5, polScy lor flnanclèl rweNe$ Is to mjlntahi swfflclent funds to meet contrartual obllg&tlon* tD qmplDyeEs
and other3 and to ensure tr thBrc 15 adequite level of worklng cbpiral ro CEwe¢ nurtua¥on¥ Irbrome level5.
Is ihuwll In the bBlJnce JheeL th4 chirfty remalThs In a healthy flnènclal pu8ltlon wlth ooud re5uryus In pKryce.
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Falth. Dnd to provlde pratticBI support In IDUI and overseas communifies.
7fwtq, R••pon4lblllll••
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f•lr vlew ol the itot• of •IrS Df the CIO and of the of th* Elp for th* pertod. In prenI thme nDonJ•l
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4qlert Jultllb Bccountlw polldei and then Jpply thwn conslsientty..
b}
make ludg4m•nts estlmate¥ that •r• r••¥0n•q •Dd prudqnt,.
prepare the flnandal Jt•tern*nt8 on the golng concern bail¥ unlw It l* Inèpproprl4t• to pruurn• that th•
charlty wlll ¢onUnue In eKlstence,'
ThE truste Ire r¥pDhilL4? fDr kqeplng propqr occounttnq r•cordi, *thlch d15dose wlth re450nable acojry ttt inv
tlme the flnancllryl pOtn of iho CTO. Tn•y 4re also re$pvnslble for 5afeguardlnp thè of th• Cto Ind h•nG4 Iqr
toklng ru84noblv steps for the preventlon and d¢tqrtlon of fraud Ind other IrragylarlU•¥.
Ap0rD¥ by thi Truste•s gn th•,...,....
2022
Slgn•d on th•lr b•h•lf by Trust••..................
prtnt•d Namo.. Dr Sh•ron M•lllwa Ichalr of tlY Wot•rnlde 7rusteesl
## **GATEWAY WATERSIDE**
**(CHARITABLE INCORPORATED ORGANISATION)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**
## **(Incorporating Income & Expenditure Account)**
|**Notes**
**INCOMING RESOURCES**
**Incoming Resources From Generated Funds**
Donations & Legacies
**3a**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
51,192
90
51,282
49,611|
|---|---|
|Charitable Activities
**3b**|204
1,078
1,282
1,545|
|Investment Income
**3c**
Other Incoming Resources
**3d**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Cost of Generating Funds**
Costs of Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOME/(EXPENDITURE) BEFORE**
**INVESTMENT GAINS/(LOSSES)**|-
1,000
1,000
356
1,273
-
1,273
19|
||**52,669**
**2,168**
**54,837**
**51,531**|
||58,124
792
58,916
54,146
6,065
-
6,065
5,807|
||**64,189**
**792**
**64,981**
**59,953**|
||**(11,520)**
**1,376**
**(10,144)**
**(8,422)**|
|Unrealised gains/losses
**2b**|8,583
8,583
17,165
0|
|**NET INCOME/(EXPENDITURE)**
Total Funds Brought Forward||
||**(2,937)**
**9,958**
**7,021**
**61,578**
63,147
66,610
129,757
138,179|
|Transfers Between Funds
**5**|(8,545)
8,545
-
-|
|**TOTAL FUNDS CARRIED FORWARD**||
||**51,664**
**85,113**
**136,777**
**261,335**|
Movements on all reserves and all recognised gains and losses are shown above. All of the charity's operations are classed as continuing.
The notes on pages 8 to 13 form part of these financial statements.
6
GATEWAY WATERsfoE
(CHARITABLE It4CQRPOItATED QROANISATION)
BALANce SHEIT
AS AT 31ST MARCH 2022
Unro5Mcled Resmded Jl.Ilir-22 31-Marv21
Fundi
Funds
T¢)tsl
Total
No
Plx•d A***ts
Tinglble A55ets
Invesbment$
1.321
50,083
1,321
100.165
1.954
1,954
2b
50,OBJ
Cuvrant AH•ts
DebiDrs & Prrpayments
Cosh It Bank and In Hand
1,126
522
26,000
9,031
26,226
9,SS3
32,629
96,946
TOtsI Curr•ttt AM•ts
er•dltor*: dui wlthln one •r
2.487
2,487
1.772
FI ¢iIRREMf ASSIT$
161
35,031
3S,292
127,803
TOTAL ASSETS less curreni lbIlIti
NIT ASSI
Vu•d• of th• ¢h•rlty
Generil Funds
Rqbtrlct•d Pundi
51,664
51,664
B5,IL3
63.147
66,610
85,113
131 777
129 Y&7
73,ot..D..ec.f.m,,k/.
Approved by the Thit••S ¢n Ihe................,
2022
Sl9n•d on 1r behbif byTru5te2
Prlnt4d Narn•.' Or Sharon Mellln
## **GATEWAY WATERSIDE**
**(CHARITABLE INCORPORATED ORGANISATION)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
- the charity becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
8
**(CHARITABLE INCORPORATED ORGANISATION)**
## **GATEWAY WATERSIDE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **1. ACCOUNTING POLICIES (Continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
_**Governance Costs**_ p p y , g
any legal advice to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Support Costs**_
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.
## _**Fixed Assets**_
Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
There has been no change to the accounting policies (Valuation rules and methods of accounting) since last year.
## _**Depreciation Expense**_
|Depreciation has been calculated on a straight line basis. The rates applied per year are as follows:
Equipment
25%
Computer Equipment
25%
**2. FIXED ASSETS**
Unrestricted
Restricted
**Total**
**a) Tangible Assets**
Equipment
Equipment
**2021/22**
£
£
£
Cost
01-Apr-21
2,976
-
2,976
Additions
-
-
Cost at
31-Mar-22
2,976
-
2,976
Depreciation
01-Apr-21
1,022
1,022|Depreciation has been calculated on a straight line basis. The rates applied per year are as follows:
Equipment
25%
Computer Equipment
25%
**2. FIXED ASSETS**
Unrestricted
Restricted
**Total**
**a) Tangible Assets**
Equipment
Equipment
**2021/22**
£
£
£
Cost
01-Apr-21
2,976
-
2,976
Additions
-
-
Cost at
31-Mar-22
2,976
-
2,976
Depreciation
01-Apr-21
1,022
1,022|
|---|---|
|Charge|633
-
633|
|Depreciation at
31-Mar-22
Net Book Value
31-Mar-22
Net Book Value
31-Mar-21|1,655
-
1,655
**1,321**
**-**
**1,321**
**1,954**
**-**
**1,954**|
The annual commitments under non-cancelling operating leases, capital commitments, Contingent Liabilities are as follows:
31st March 2022: None
31st March 2021: None
9
## **GATEWAY WATERSIDE**
## **(CHARITABLE INCORPORATED ORGANISATION)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2022**
|**b) Investments**
Market value brought forward
Unrealised gains/(losses) on investments
Realised gains/(losses)
Market value carried forward
**2. FIXED ASSETS (continued)**|**TOTAL**
**2021/22**
£
83,000
17,165
0|
|---|---|
||100,165|
_The Historical Cost of the COIF investment totalled £83,000_
## **3. INCOMING RESOURCES**
|**Note**
**a) Donations & Legacies**
Gift Aid Donations
Tax Recoverable
Gifts, Tithes & Offerings
**5**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
31,879
31,879
29,215
8,003
8,003
7,665
11,310
90
11,400
12,731|
|---|---|
|||
|**b) Charitable Activities**
Ministry Events
Salem Orphanage
**5**
CAP
**c) Investment Income**
Interest
**d) Other Incoming Resources**
Sundry Income|**51,192**
**90**
**51,282**
**49,611**|
||-
-
-
750
40
1,078
1,118
795
164
164
-|
||**204**
**1,078**
**1,282**
**1,545**|
||-
1,000
1,000
356|
||**-**
**1,000**
**1,000**
**356**|
||1,273
-
1,273
19|
||**1,273**
**-**
**1,273**
**19**|
10
## **GATEWAY WATERSIDE**
## **(CHARITABLE INCORPORATED ORGANISATION)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **4. Resources Expended**
|**a) Costs of Charitable Activities**
Administrative Expenses
Advertising and Publicity
CAP
Conference Costs
Depreciation Expense
**2a**
Equipment Costs
Gifts - Ministry
Gifts - Other
Hall Hire
License & Subscriptions
Mission
Printing
Salem Orphanage
**5**
Salt & Light
Software
Staff Costs
**9**
Subsistence
Sunday Costs
Sundry Expenses
Telephone Costs
The Youth & Children
Travel Costs
**b) Governance Costs**
Accountancy
Bank Charges
Insurance
Independent Examiners Fee
Legal and Professional Fees|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
1,142
-
1,142
843
261
261
1,834
7,037
7,037
6,000
1,103
-
1,103
508
633
-
633
580
-
-
-
95
3,538
-
3,538
947
-
-
54
1,500
1,500
79
-
-
-
341
-
-
444
207
207
382
792
792
2,585
1,200
-
1,200
1,200
403
403
391
39,144
-
39,144
36,601
495
495
-
373
373
688
9
-
9
-
78
-
78
78
825
-
825
465
176
176
32|
|---|---|
||**58,124**
**792**
**58,916**
**54,146**|
||4,296
-
4,296
4,224
95
-
95
-
591
-
591
554
942
-
942
900
141
-
141
129|
||**6,065**
**-**
**6,065**
**5,807**|
11
## **GATEWAY WATERSIDE**
## **(CHARITABLE INCORPORATED ORGANISATION)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **5. RESTRICTED FUNDS**
||Balance
Balance
**01-Apr-21**
Income
Expenditure
Transfers
**31-Mar-22**
**£**
**£**
**£**
**£**
**£**|
|---|---|
|Building Fund
Salem
Vision|66,610
9,583
-
(110)
76,083
-
1,078
792
-
286
-
90
-
8,655
8,745|
|||
||**66,610**
**10,750**
**792**
**8,545**
**85,113**|
||Balance
Balance
**01-Apr-20**
Income
Expenditure
Transfers
**31-Mar-21**
**£**
**£**
**£**
**£**
**£**|
|Building Fund|66,610
-
-
-
66,610|
|||
||**66,610**
**-**
**-**
**-**
**66,610**|
**Building Fund -** Plans have commenced for the organisation to seek a building of its own, and to this effect a Building Fund had been opened to set aside resources to ensure that this could be realised. **Salem Orphanage -** Fund to support orphanage based in Kenya **Vision** - Funding for future porjects
Restricted funds are represented by cash reserves held by the Charity. The Restricted funds in deficit are classed as continued operations and will be replenished in the coming financial period.
## **6. CASH AT BANK AND IN HAND**
||Unrestricted
Restricted
**Tota**l
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**|
|---|---|
|Cash at Bank and in Hand|522
9,031
9,553
96,946|
||**522**
**9,031**
**9,553**
**96,946**|
## **7. DEBTORS & PREPAYMENTS**
|Gift Aid Tax Recoverable
Green Pastures Loan Stock
Sundry Debtors|Unrestricted
Restricted
**Tota**l
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
2,157
-
2,157
7,629
26,000
26,000
25,000
69
-
69
-|
|---|---|
||**2,226**
**26,000**
**28,226**
**32,629**|
## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Independent Examiners Fees
NEST
Sundry Creditors|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
942
-
942
900
817
-
817
211
728
-
728
660|
|---|---|
||**2,487**
**-**
**2,487**
**1,772**|
12
**(CHARITABLE INCORPORATED ORGANISATION)**
## **GATEWAY WATERSIDE**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **9. STAFF COSTS AND NUMBERS**
|Gross Wages & Salaries
Employer's National Insurance Costs|**2021/22**
**£**
38,004
2,682|**2020/21**
**£**
35,535
2,969|
|---|---|---|
|Employers National Insurance Allowance|(2,682)|(2,969)|
|Pension Contributions
Employees who were engaged in each of the following activities:
Activities in furtherance of organisation's objects|1,140
**39,144**
**2021/22**
TOTAL
3|1,066
**36,601**
**2020/21**
TOTAL
2|
The charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess £60,000 (2020/21: None).
## **10. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES**
As a Charitable Incorporated Organisation the Charity is registered with the Charity Commission number 1143971. The Charity does not have a Share capital and has no income subject to Corporation Tax.
||**2021/22**
**£**|**2020/21**
**£**|
|---|---|---|
|Surplus / Deficit for the financial period
Balance Brought Forward
Closing Funds at 31st March 2022|7,021
**7,021**
129,757
**136,777**|(8,422)|
|||**(8,422)**|
|||138,179|
|||**129,757**|
## **11. PAYMENTS TO DIRECTORS & RELATED PARTIES**
No payments were made to Trustees or any persons connected with them during this financial period. No material transaction took place between the charity and the Trustees or any person connected with them.
## **12. RISK ASSESSMENT**
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **13. RESERVES POLICY**
The Trust recognises the propriety of not building up funds for which there is no clear expenditure plans. The Trust’s policy is to allow reserves to accrue to a level of three months’ average expenditure, plus funds which may be earmarked for specific projects in the future. As the Trust is still growing, reserves may only exceed this policy level in order to be able to respond positively to new opportunities. This situation is actively monitored to ensure that reserves do not build up unnecessarily.
## **14. PUBLIC BENEFIT**
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
Report to the trustees/members of Gateway Waterside on the accounts for the year ended 31st March 2022 set out on pages 6 to 13.
## **Respective responsibilities of trustees and examiner**
The Charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:-
a) examine the accounts under section 145 of the Act;
b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;
c) to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.
The procedures undertaken do not provide all the evidence that would be required in an audit and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
## **Independent examiner's statement**
In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in, any material respect, the trustees requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
· to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
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Keith Richards
Date: 23rd December, 2022
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