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2022-12-31-accounts

Sievemk Gateway Ltd Caarily No. 1146451 Company No. 07886477 Truslees, Report and Unaudited Accounts 31 December 2022

Sievemk Gateway Ltd Contents Pages 2to8 Trustees, Annual Report Indep8ndent ExamSner's Report Slalement of Flnanclal Actlvllles 10 Summary Income and Expendllure Account Balance Sheel 11 12 statement of Cash flows 13 Notes to the Accounts 14to23 Delalled Statement ol Flnanclal Acllvltles 24to26 Page 1

Sievemk Gateway Ltd Trustees, Annual Report The trustees. who are also dirertor5 of the charityforthe purposes of the Companles Act 2(K)6, present their report with the unaudited financial statements of the charity for the year ended 31 December 2022. Registered Company number 078864771England and Walesl Re8lStered Charity number 1146451 Registered Offlce I, Floor, The Point 602 Midsummer Boulevard Milton Keynes Buckinghamshire. MK9 3GN Trustees Miss Mofiyinfoluwa Ogvnyeye Mlss Jesslca Oyakhire Miss Kerrie Bradburn Mrs l A Gilzene Mrs Olarfian 08Urtmoyela Mr Stuart Burke Ichairl Accountantsllndependent examlner Tolulope Fasanya Anthor Buslness Solutlons Llmhed Units 1-24 Acorn House 351-397 Midsummer Boulevard Milton Keyne5. MK93HP Bankers Natwest Bank 501 Silbury Boulevard Saxon Gate East Milton Keynes. MK9 3ER Metro Bank One Southarnpton Row London. WCIB SHA Page 2

Sievemk Gateway Ltd Trustees, Annual Report OBJECTIVES AND ACTIVITIES Mlsslon, Vlsion. Value5 and Principle5 Our mission is to provide a gotewuythrough which ourcommunity is inspired, Mentored, and empowered. Our vlslon Is that members of our tommunity are inspired to realize their full potential. Our values which are driven by our Christian fatth are Hope, Inclusivenes5, Partnershlps and collaboration, P051tive communication, Innovation and Excellence Our Activities Our primary objectlvè 15 to addre$5 the problem of educational underachievement among mostly BAME voung people in our local community by devElopin8 aCtes5ible and c05t-effertive programmes and seeking opportunities which will help them acquire employability skills andlor oualrfications reqLFired for further education or career advancement. In partnership wlth a wide range of flrm5 and communityorganisations we continue to create opportunities to overcome obstacles such a5 poor language skills, a lack of role mode15, limited aspirations and low employabilityskilllevels. We 5eekto provide processes and bespoke projects that engage with the real needs of individuals and seek to provide individuals with the confidence. employability skills 3nd the all-rtsund development they need to reach their full potential wherever possible. Our learning and mentoring program5 are making a real difference to indwtduals. gfvlng our partidpants real confidence. We continue to live out our mandate to<reoting Opportunlties. Dellverlng Excellence and Chgnglng Llve Page 3

Sievemk Gateway Ltd Trustees. Annual Report STRUCTURE. GOVERNANCE AND MANAGEMENT Governing Document SIEVEMK Gateway is a company limited by guarantee by its Memorandum and Artides of Association dated 13th March 2012. It is registered as a Charity with the Charity Commission. Appolntrnent of Trustees Trustees are appolnted on the basls of their Indlvidual skills and experiences for the posltion and neÈd SIEVEMK Gateway has which theyare able tofill orcontribute to bytheir tommitmentto SIEVEMK Gateway and its vision, ethos, aims and objectives. They are met by all existing board members who will then a8ree and vote on the new appointment. Trustee Induction and Training Newly app¢ynted Trustees are briefed on the companVs Memorandum and Artides of Assodation, the current Strategic Business Plan, and given an ovetview of the companvs recentfinancial performance. The functions of the board and its decision-making processes are also explained, as are their individual role5, responsibilities and legal obligations under both charity and company law. Each trustee is glven a clear role and responsibilities and is experted to attend board meetings and the Annual General Meeting when arranged. Tru5tee5 are also encouraged to attend approprlate external tralnlng events where these will facllitate the undertaking of thelr role. Organ15atlon The board of Trustees administers the charity and seek to meet regularly. Certain indivlduals have particular areas of expertise and thèrèfore responsibilities su¢h as Teaching, Legal, Finance, Fundraising, HR and PR are a55igned. The employed Chief Executive Officer of SIEVEMK Gateway 15 appointed by the trustees to manage the d3y-tO-day operations and has an agreed level of delegated authorlty for operational matters including vision, direction, finance, employment and performance related activity. Thè Chief Executive Officer is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. Risk Mana8ement We continue to as5e55, review, monTrtor and plan for all risks which the organi5ation may face, now or in the future. Our Risk Management Strategy comprises a risk register of all aspects of the organisation and Its actlvities, for each project we undertake, outllnlng possible risks that may occur, procedures to mitigate the risks idents'fied and regular re-assessments both of the risks already outlined on the register and of projett and aLtivitie5 for potential new risks. All projects and attivitie5 run by SIEVEMK Gateway undergo a risk assessment before they begin. This process leads to a heightened awareness to potentlal rlsk faced and assist wlth the development of robust contingency plans. Public 8enefft Statement SIEVEMK Gateway has always and will continue to take its responsibilitie5 of ensuring that Its charitable activities contribute 518nificantly to the live5 of those we work wsth and specifically within the local areas in which those activltles are undertaken. With reference to the Charltles Act 2006, all our charitable artivities are direrted towards having a lifelon8 impart on the local area and these activities are undertaken to further our charitable purposes for the public benefit. The examples below are a testament of our commitment to the public benefit requirement. Page 4

Sievemk Gateway Ltd Trustees, Annual Report ACHIEVEMENTS AND PERFORMANCE 2022 Creating Opportunities In 2022 wè broadened our network by developing deeper relationship wlth secondary schools in Milton Keynes, strengthened our relationshlp wlth Milton Keynes City Council and publicized our work via a new look webslte. Thls generated opportunltles for young people in MK predominately within the sphere of Alternative Provision (API and 1-2-1 tutoring. Most notable was the shaplng of our AP offer to the city- We trialled one term with provision lor up to 8 students covering Math5, English, PSHE and reflection on acceptsbSe behaviours, with a view to SUPPOrted reintegrats'on within the mainstream setting which had referred them to us. Within thefollowing 6 months, almost 50% of pupils were able to remaln In thelr senior schotsls with refreshed targets and approaches to their education. We have reviewed this provision and feel thatsmall scale teachingwould provide a greater benefit to those students who are currently struggling with the traditional school environment. A comprehensive plan is In place to structure our offering going forward, and thatthe beneflts are aceesslble for our student's long tèrm. Throughout all of our dffferent edu¢aii¢)nal offerings we had 65 students learning with us In 2022. We are delighted to have been awarded a small 8rant from Milton Keynes Community Foundation to take some of those students who attend our Il+ provision. on a small outing Whe￿bY we will give them the opportunitv to experience a range of sporting attivities nèw to them. In order to continue providing such support to our community we were delighted to receive planning permi55ion for the erection of a two-storey community centre wrth teachin8 facilities, hall, cafe and office spate, plus associated parking and landscaping, on the piece of land South of Heelands Primary School, in Milton Keynes. Work has continued In the fundraisin8 Sphe￿ to fa¢ilitate the next sta8es of construction and we have been delighted to partner with Non Profit Gr¢)wth INPGI in order to submit a significant number of Brant applications which would fund our amb*tion. Fundraising has. and will continue to be, one of the main focuses for our charity in the coming years. 2022 also saw the recruitment of our new Project Director. As an educationallst they have already helped to shape additional provision, ensure compliance and help further devèlop our offering SO that it remains ccintinually relevant in the ¢han8in8 educational and social landscape of the clty. To aid our organisation with inclusion, which is particularly relevant in the Alternative Provision IAPI sphe￿. our Project Direttor has been taking part in the Indusive Leadership Course offered by The DIfferen￿. This has been used to help shape not only our offErin8 in the City but has provided additional Continuous Professional Development ICPDI for our whole Staffing team. Delivering Excellence 2022 has seen growth in private exam provision. We are now an official partner with Tutor5 and Exams, national oiganisation providing a widè range of assessment sèrvites. This mutually beneficial partnershlp will result in cross referrals of candidate5, allowin8 more young people to gain the quallfications they seek. In 2022 we have also obtained approval to deliver Pearson Edexcel GCSE and GCE qualifications as well as City and Guilds qLtalifications in Electrical Wiring Regulations. We already have ourfirst students registered to take exams under these boards in 2023. Furthermore, approval via Pearson has meant that we are now the official exam partnerfor Luton Girls. College and will be deltvefing all of their exams duringthe summer 2023 season. Page 5

Sievemk Gateway Ltd Trustee5' Annual Report Overall. in 2022 we have deliVe￿d 129912021.. 1251hrsl hours of tutoring and mentorin& representlng a 4% increase frorn the previous year. Thi5 ha5, in part, been po55ible thanks to the recruttment of a new tutor who is able to provide for students takln8 GCSE English and Funrtional Sk1115 In thls area. Alongside all of our work, WÈ havè worked to ensure that we are compllani to all best practices in our sector and have now instigated a comprehensive annual policy review. Changing Lives 2022 saw the Snltial year of our RAC-for-LAC programme.. IRecovery After Covld for Looked After Chlldrenl whlch alms to support Looked After Chlldren ILACI aged 16-25 with mentoring to prepare them forfurther education or work and enhance their life opportunltles. Thls work Is 8enÈrously funded by British Foreign Schools Society IBFSSI. We have delivered weekly Functional Skills in English Language and Mathematics as well asfinancial literary to 20 students, with 12 passing their exams. We are delighted io say that ourfunding in this area has been extended for a further year. This proBramme has been particularly significant to some unaccompanied asylum seekers (who are classed a5 LACI In acquirlngthe skllls theyrequire to settle in our country. Referrals from Milton Keynes Council wlll contlnue In th15 area. Our Scholars programme continues with 2 students going on to Sixth Form and further education during 2022. In addition, we have attended tspen days wlth 3 students who will be applying for fully funded places at independent schools within 2023. Finally. w* arè proLtd to state that we had 630 exam takers during 2022. Page 6

Sievemk Gateway Ltd Trustees. Annual Report Future Plans In pursuance of the charltable objectives, the trustees have identified and agreed the followlng plan for 2023. Objectlve Creatlng opportunities Target/Measure Increase the number of KS2.5 pupils on re8lSter by 10%. Increase the number of 11 plus pupils. Double the number of adults in our Functlonal Skllls classes Ifrom 10 to 201 Engage up to 20 adults in the 'Learning for Work, projecl. Provide Work Placements for at least 3 vouth5. Place at least 2 pupils in our bursary programme with Royal Springboard or direct SMK placement Delivering Excellence Achieve 90% attendance on average for KS2-5 pupils. Achieve 90% pupil satisfartion Secure fundir7g Complete core fundin8 applications Capital project funding. Internally organised fundraSslng Increase social output opportunities and income streams from new and exlstlng SIEVEMK Gateway enterprise5 Develop our Sotial Enterprise platform. Seek new business OPPOrtunr(ies. Further develop our partnership wr(h Royal Springboard Bursary Foundation Develop and delwer 4 direct scholars piogramme for non-bursary qualified New Home for SIEVEMK Continue fundraising campaign. Secure further 2-year land reservation SMK Gateway- Alternative Provision Policy updates to complete. Review the pilot and revlse our offering in light of our findings. Recruit additional staff Page 7

Sievemk Gateway Ltd Trustees' Annual Report

FINANCIAL REVIEW

Financial position

The charity recorded a net income of £11,649 (2021: £8,060). SIEVEMK Gateway's management have implemented robust budgetary controls and continue to monitor costs to effectively and efficiently fund the activities of the organization.

Incoming Resources - The total income for the year under review was £203,488, (2021: £200,184). This represents an increase in income of 1.65% on last year's income. This is a modest increase considering current economic climate.

Expenditure - The total expenditure for the year was £191,839 (2021: £192,124). This remains on par with the previous year's expenditure. Over 90% of our operational expenditure was spent on direct charitable activities.

Reserves policy

The organization maintains sufficient Free Reserves to always cover its liabilities and commitments. SIEVEMK's reserves policy aims to ensure that the organization can maximize the value of its net income without incurring unnecessary risk. The general reserves provide a level of financial protection to SIEVEMK to mitigate against changing financial circumstances, such as downturn in income or unscheduled additional expenditure. The policy is reviewed in a strategic context annually, aiming to establishing an appropriate level of general reserves to meet potential short to medium term needs.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the Board of Trustees:

Olaitan Ogunmoyela Stuart Burke Trustee:[Olaitan Ogunmoyela] Chair:[ ][s] _[t] _u[a] _ rt B_u_rk_ e _ __ _ Date: [2] [1][][s][][e][][ p][][ t][ ][e][m][][][ b][][e][][r][2][][02][][][ 3 __] Date:[21 September 2023]

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Sievemk Gateway Ltd

Independent Examiners Report

Independent Examiner's Report to the trustees of Sievemk Gateway Ltd

I report to the charity trustees on my examination of the financial statements of Sievemk Gateway Ltd for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which

attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Tolulope Fasanya AFA MIPA/IFA

Anchor Business Solutions Limited

Units 1-24

Acorn House

351-397 Midsummer Boulevard

Milton Keynes

MK9 3HP

21 September 2023

Page 9

Sievemk Gateway Ltd Slalemenl ol Financial Activities foi the year ended 31 December 2022 Unreslricted Restricted funds f unds Total funds Total funds 2022 2022 2022 2021 Notes Income and endowrnents from.. Donallons and legacles Charllable acllvitSes Income generated 18,310 3,511 164,410 18,310 20,768 164.410 27.885 35,113 137,186 17,257 Total 186,231 17,257 203,488 200.184 Expendlture on.. Raising lundE Charitable actlvitles Other 4.995 2,156 184,688 191,839 4,995 2,156 184,688 191,839 46,839 13,183 132,102 192,124 10 Total Nel gains on Inveslments Net income 11 15.6081 17,257 11,649 B,060 Translers between funds Nel incotne belore othei galnslllossesl 5,6081 17,257 11,649 8,060 other gains and losses Nel movement in tunds 15,6081 17,257 11,649 8,060 Reconciliation ol funds.. Total funds brought forward 142,236 119.356 261.592 253,532 Total funds carried torward 136,628 136.613 273.241 261,592 Page10

Slevemk Gateway Ltd Summary Income and Expendlture Account for Ihe year ended 31 De¢ember 2022 2022 2021 Income 203,488 188,037 Gross Income for the year Expendlture 203,488 190,658 188,037 174,991 Depreclatlon and charges for Impalrment of fixed assets 1,181 4,986 Total expenditure for the year Mel Income before tax for th8 year 191,839 11,649 179,977 8.060 Net income for the year 11.649 8,060 Page 11

Sievemk Gateway Ltd Balance Sheet at 31 December 2022 Company No. 07886477 Notes 2022 2021 Fixed assets Tanglble assels 13 31 31 1.212 1,212 Current assets Stocks Debtors Cash at bank and In hand 14 15 160 33.862 268.739 302,761 5,2211 297,540 298,752 137,1601 261.592 31,769 278,316 310,085 18.2331 301.852 301,883 128,6421 273,241 Credilors- Amount falling due within one year Nel ¢urrent assels 16 Total assets less current Ilabililies Creditors.. Amounts falling due after more than one year Net assets excluding pension asset or liability Total net assets 17 273.241 261,592 The funds of the charity Restrlcted funds Restrlcted income lunds 18 136,613 136,613 119,356 119,356 Unrestricted funds General funds 18 136,628 136,628 142.236 142,236 Reserves 18 Total funds 273,241 These accounts have been prepared In accordance with the special provision5 01 Part 15 01 the Companies Act 2(K)6 relating to small companies. For Ihe year ended 31 December 2022 the company was entitled to exempllon under section 477 of the Companles Act 2006 relating lo small Gotnpanies. The Membe￿ have not requlred the company to obtain an audit in accordance with secllon 476 01 the Companies Act 2006. The dlreclor$ acknowledge their responsibilities lor complying with the iequlrements of the Companies Act 2006 with respect to accounting records and the preparation ol accounts. 261.592 Approved by the board on 21 September 2023 And slgned on Ils behalf by: Olaitan Ogunmoye Trustee.. Olaitan Ogunmoyela Date- 21 September 2023 Stuart Burke Chair: Date.. 21 September 2023 Stuart Burke Paoe 12

Slevemk Gateway Ltd Stalement of Cash flows for Ihe year ended 31 December 2022 2022 2021 Cash flows Irom operaling activities Nel income per Statement ol Financlal AEtivities 11.649 13,046 Adjustments for.. Depreciation ol property, plant and equipment Decrease In ￿0¢k9 Decreaselllncreasel In trade and olher recelvables IntreasellDecrease} In trade and olher payables 1,181 160 2,091 3,014 115,6921 12,1211 Nel cash provlded byllused inl operating activitles 18,095 {4,7671 Net cash used in investing aclivities 19671 Cash flows from Ilnan£lng a¢tlvltles Repayment of borrowlngs 18,5181 12,8401 Nel cash used in financing activities 18,5181 12.8401 Net in¢rease/ldecreasel in cash and cash equivalents 9,577 {8,5741 Cash and cash equivalenls at the beginning of the year 268.739 277,313 Cash and cash equivalent5 al the end of the year 278,316 268,739 Components ol cash and cash equivalents Cash and bank balances 278.316 268.739 278,316 268.739 Page 13

Slevemk Gateway Ltd Nolesto the Accounts for the year ended 31 December 2022 1 Accountlng policles Basis ol preparalion The flnanclal statements have been prepared In accordance wlth Accounllng and Reportlng by Charllles.- Statement ol Recommended Pracllce applicable to charlties preparlng thelr aecount$ In accordance wilh the Finan¢ial Reporting Standard applicable in the UK and Republic ot Ireland IFRS1021 leffe¢live l January 20151 (Charilies SORP IFRS10211, the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Companles Act 2006. Change In basls of accountlng 01 lo prevlous accounts There has been no change to the accounting policies {valuation rules and method of accountinol since last year and no change5 have been made to accounts for prevlous years. Fund ac¢ounting Unrestricted funds These are available lor use at the discretion ol the trustees in furtherance of the general objects of the charity. These are unrestrlcled funds earmaiked by the trustees for particular purposes. These are unrestricted funds which include a Tevaluallon reserve representlng the restatement ol Investment assets at their market values. These are avallable for use subject to restrictions imposed by Ihe donor or through terms of an appeal. D851gnat8d fund8 Revaluation funds Restilcted funds Income Recognltion of income Income is incltFded in Ihe Stalemenl of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient rellablllty. Income wllh related Where Income has related expendlture the Income and related expenditure expendilure Is reported gross In Ihe SOFA. Donatlons and legacles VolLTntary Income recelved by way ol grants, donatlons and gift$ Is Included In the the SOFA when receivable and only when the Charlty has unconditional entitlement to the income. Tax reclalms on Income Irom tax reclalms Is Included In the SOFA at the same tlme as the donations and gif1$ uillldonation to which il relates. Donated servlces These are only Included In Income Iwllh an equlvalent amount in and facillties expenditure} where the beneflt lo the Charlly Is reasonabty quantlflable, measurable an¢J material. Volunteer help The value of any volunteer help received is not included in the account$. Investment income Thi5 is included in the accounts when receivable. Gains/{lossesl on This in¢lude$ any gain or loss resultlng from revalulng Investmen18 to revaluatlon ol flxed markel value at the end ol the year. assets Gainsl{lossesl on investmenl assets Thls in¢lude$ any galn or lo￿ on the sale ol inve$tments. Page 14

Slevemk Galeway Ltd Note510 the Accounts Expenditure Recognltion ol expendlture Expendlture Is recognlsed on an accruals ba$ls. Expendlture includes any VAT which cannot be lully recovered, and Is reported as part of the expendSlure to whlch It relates. Expendlture on These comprlse the costs assoclated wllh attracllng voluntary Income, ralsing funds fundraislng trading costs and Investment management costs. Expeniillure on These comprise the costs Incurred by the Charity in the delivery of Its charltable actlvllles actlvltles and servlces In the furtherance of Its oblecls, including the maklng of grants and governance cosls. All grant expenditure Is accounted lor on an actual pald basis plus an accrual lor grants that have been approved by the trustees at the end of the year but not yet pald. These Include those costs associated wlth meetlng the constltullonal and statutory requlremenls ol the Charlly, Includlng any audltllndependent examlnatlon lees. costs Ilnked lo the slralegic management of the Chaiity, together with a share of other adminlstratlon Costs. Other expenditure These are support costs not allocated to a partlcular actlvlty. Grants payable Governance costs Taxatlon The charlty Is exempt from corporatlon lax on Ils charltable actlvltle5. Tangible fixed assets and depreciation Deprecialion is provided al the following annual rates in order to wrlte olf each asset over ils estlmated uselul life.. Plant and machinery Motor vehlcles FLxtures, flltlnos and equipment 25YD Slraight line 25% Slralght Ilne 25% Stralght Ilne Freehold Investment property Investment propertles are measured Inltlally at cost and subsequently at falr value at each balance sheet dale and are not deprecialed. All gains or losses are taken to the Slatement of Flnancial Activities as they arise. Stocks siock is included at the lower ol cost or nel realisable value. Donated items of Stock are recognised at lalr value whlch Is the amount the charity would have been wllllng to pay for the Items on the open markel. Trade and other debtors Trade and other debtors are recognlsed at the setllemenl amount due after any irade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Page 15

Sievemk Gateway Ltd NDtes to the Accounls Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short.lerm highly liquid investments with original maturllles ol Ihree months or les5 and bank overdra115. In the statement of Ilnanclal poslllon, bank overdrafts are shown within borrowings or cu rrenl liabilities. In the Statement of Cash Flows, cash an(i cash equlvalenls are shown net of bank overdratts thal are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term credltors are measured al the Iransactlon prlGe. Other credltors and provlsions are recognised where the charity has a present obligatlon resultino from a pasl event that wlll probably result In the Iran51er ol lunds lo a third party and the amount due to settle the obligation can be measured or eslimated reliabty. Creditors and provisions are normally recopnised at Ihelr settlement amounl after allowing for any trade discounts due. Research and developmenl Expendilure on research and development Is wrltten off In the year in which It Is incurred. Foreign currencies Monetary assets and Ilabilitles denomlnated In currencles other than the funcllonal currency ol the chariiy are translated at the rates ol exchanue prevallinu at the end ol the reporting perlod. Transactlons In cu rrencles other than the lunctlonal currenty of the charlly are recorded at the rate of exchange on the date that the transacllon occurred. All exchange dillerences are are taken into account in arfivino at net incomelexpendllure. Leased assets Where the charliy enlers into a lease which entails taking substanlially all the risks and rewards of ownership of an asset, the lease Is trealed as a Ilnance lease. Leases which do not transfer substanllally all the rlsks and rewards ol ownershlp to charliy are classified as operating leases. Assets held under finance leases are Inltlally recognlsed as a35els of the Charlty at thelr lalr value al the Inception of the lease or, If lower, at the present value of the mlnlmum lease payments. The correspondlng Ilability lo the lessor18 Included In the balance Sheet dale as a finance lease obligation. Lease payments are apportioned between Ilnance expenses and reduction of the lease obllgatlon so as to achleve a constant rale ol Interest on the remalnlng balance of the liability. Finance expenses are recognlsed immediately. unless they are directly atlributable to qualifying assets, in whlch case they are capitalised in accordance with the charlty's pollcy on borrowlnu costs. A88ets held under flnance IBases are deprecialed in the same way a$ owned assels. Operating lease payments are recognlsed as an expense on a slralght-line basls over the lease term. In the event that lease Incentives are received to enter into operatino leases, such Incentlves are recognised as a liability. The aggregate beneflt of Incentives 1$ recounised as a reduction of rental expense on a stralghl-llne basls. Page 16

Sievemk Gateway Ltd Notes to the Accounts Pension costs The charity operates a defined contribution plan for Its employees. A dellned contrlbulion plan 18 a pension plan under which Ihe company pays flxed contrfbutSons into a separate enllty. Once the conlrlbutlons have been pald the company has no furiher payments oblloallons. The conlrlbutlons are recognised as expenses when they fall due. Amounts not pald are shown In accruals in the balance sheet. The assels ol the plan are held separately from the company in independentty administered funds. Recelpl ol donated goods, facllllles and servlces All donated goods, facilltles and servlces recelved are recoonlsed wlthln InEomlng resouices &n(i expenditure at an eslimale ol Ihe value lo Ihe charlty. 2 Company status The company Is a private company limited by guarantee and consequentty does not have share capilal. 3 Statement of Financial Activities - prior year Unrestricled funds 2021 Restricted f unds Total lunds 2021 2021 Income and endowments from.. Donations and leoacies Charltable actlvltles Other tradlng actlvllles Total 27.885 22.966 137.186 188,037 27.885 22.966 137,186 188,037 Expenditure on: Ralslllg funds Charltable actlvltles 46,839 1,036 127,116 174.991 46,839 1,036 127.116 174,991 Other Total Net Income 13,046 13.046 Net income before other galn$lllO￿e$ Other gains and losses.. Net movement In tunds 13,046 13,046 13,046 13,046 Reconclllation of funds.. Total funds brouohl forward Total funds carried forward 105,741 118.787 147,791 147,791 253,532 266.578 Page17

Slevemk Gateway Ltd Notes to the Accounts 4 Income f rom donatlons and legacles Unrestricted Total 2022 Total 2021 HMRC JRC Grant Glltald Other Donatlons 23,358 2,477 2,050 27,885 2.200 16,109 18,310 2,200 16,109 18.310 5 Income from charilable aotivities Reslrlcted Total 2022 Total 2021 Grants - Reslricted BFSS Grants -Restrlcted MKCF Grants -Restrlcted RNCS8 Grants-Restrl¢ted SEMLEP 17,257 17,257 9,333 12,157 4,072 9,551 17.257 17,257 35,113 6 Income generated Unrestricted Total 2022 Total 2021 Coaching & consultancy incom8 Examlnation centre Prlntlng 44,560 44,560 41.890 116,122 3,728 164.410 116,122 3,728 164,410 92,788 2,508 137,186 7 Expenditure on raising funds Unrestricted Total 2022 Total 2021 Costs generAting voluntary income H MRC IFIC Grant Glftald 215 46,624 46,839 4,995 4,995 4.995 4,995 Page 18

Slevemk Gateway Ltd Notes lo the Accounts 8 Expendlture on ¢harltable a¢tlvllle$ Total 2022 Total 2021 Expenditure on charltable aclivltles Gran13-Restricted MKCF Granls made Goveman¢e Costs 12,147 536 12.683 9 Analysis of grants Actlvliy or programme Total 2022 Total 2021 Grants -Re3trtcted SESF Donation5 rnade Grant- Restricted SESF 536 Grant-SMK 536 Activity or programme Total 2022 Tolal 2021 Granls-Restrlcted SESF Donallons made Grant Reslrlcled SESF Grant-SMK 536 536 Page 19

Sievemk Gateway Ltd Notes to the AcGounls 10 Other expenditure Unrestricted Total 2022 Total 2021 Employee c0318 Molor and travel costs Premises costs Amortisation. depreclatlon, impairment. profit1105S on dlsposal ol flxed asse1$ General admlnlstratlve costs Legal and professional costs 60.664 5,550 2,054 60,664 5,550 2.054 45.939 4,020 1,602 1,181 1,181 4,986 115,239 115,239 75,188 367 184,688 184.688 132,102 11 Nel income before transfers 2022 2021 Thls Is slated after charilno.. Depreclalion of owned flxed assets 12 Stall costs 1.181 4.986 2022 59,511 1,153 60,664 2021 45.939 Salarles and wages Penslon costs 45,939 No employee received emoluments in excess of £60,OCKI. 13 Tangible flxed assets Plant and machiner Motor vehicles Fixtures, fittings and equipment Total Cosl or revalualion Al 1 January 2022 Al 31 December 2022 Depreciation and irnpairment Al1 lanuary 2022 Depreclatlon charge for the year Al 31 December 2022 Net book values Al 31 December 2022 At 31 December 2021 14,694 14,694 12,100 12,100 4,078 4,078 30,872 30.872 13,502 12,090 4,068 29,660 1,181 1,181 14,683 12.090 4,068 30,841 11 1,192 10 10 10 10 31 1,212 Page 20

Sievemk Gateway Ltd Notes lo the Accounts 14 Stocks 2022 2021 Raw materials and consumables 160 15 Debtors 2022 2021 Trade deblors VAT recoverable Olher debtors 2.881 2,398 3,668 27,796 33.862 28,888 31,769 16 Creditors.. amounts falllng due withln one year 2022 2021 Traile credltors Other laxes and SOGial security Loans from trustees Other credltors Accruals 2,891 3,128 236 1,978 3,723 339 70 1,087 8.233 5,221 17 Creditors.. amounts falllng due afler more than one year 2022 2021 Bank loans and overdrafts 28,642 28.642 37,160 37,160 Page 21

Sievemk Gateway Ltd Notes lo the Accounts 18 Movement In funds Incoming resources (including At1 other January gainsllos588 2022 Resource5 expended A131 December 2022 Restricted fund5'. Reslricled income funds.. Granl-SEMLEP Grant Reslrlcled Grant - SESF Grant- BFSS 8,225 80.019 30,449 663 8,225 80,019 30,449 17,920 17,257 Total 119,356 17.257 136.613 U nrestricted funds.. General tunds 142,236 186,231 1191,8391 136,628 Total funds 261,592 203,488 1191,8391 273,241 Purposes and reslrlctlons In relatlon to the funds.. Reslrlcted funds: Grant- SEMLEP GTant- Restrlcled Grant- SESF Grant - BFSS 19 Analysis ot nel assets belween funds Unrestricted funds Total Fixed a55els Nel current assets Creditors due in more than one year and provisions 31 301,852 31 301,852 128.642) 128,642 273,241 273,241 Page 22

Sievemk Galeway Ltd Notes to the Accounts 20 Reconcilialion ol nel debt At31 December 2022 At1 lanuary 2022 Cash flows Cash and cash equlvalenls 268,739 268,739 9,577 9.577 278,316 278,316 Bank loans 137,1601 137.1601 8,518 8,518 128,6421 128,6421 Net debt 231,579 18,095 249,674 21 Commitments Operatlng lease commitments Annual commllmentB under non-cancellable operallng leases are as follows= 2022 Land and buildings 2022 2021 Land and bulldlngs 2021 Other Other Operatlng leases wlth expiry date.. Penslon commltmenls 2022 2021 The penslon cost charge to the Company amounted lo.. 1,153 22 Related party dlsclosures CO￿trollIng party The company Is Ilmlted by guarantee and has no share capllal- thus no slngle party controls the company. Page 23

Sievemk Gateway Ltd Detailed Slatement of Flnanclal Acllvilles for the year ended 31 December 2022 Unrestricted funds 2022 Restricted funds Total funds Total fullds 2022 2022 2021 Income and endowments from: Donations and legacie5 H MRC JRC Granl Glltald Other Donatlons 23,358 2.477 2,050 27,885 2,200 16,109 18,310 2,200 16,109 18,310 Charllable actlvlties Grants - Restrlcted BFSS Grants-Reslricted MKCF Grants-Re31ri¢led RNCSB Grants -Restrlcted SEMLEP Granls -Re8trlcted SESF Grants -MKCC Grants-The Royal Sprlngboard Donatlons made 17,257 17,257 9.333 12,157 4,072 9.551 200 3,311 200 3,311 3,511 17.257 20.768 35,113 Income generated Coaching & consultancy income Examlnatlon centre Prlnting 44,560 116,122 3,728 164,410 186,231 44,560 116,122 3,728 164,410 203,488 41,890 92.788 2,508 137,186 200,184 Total income and endowments 17,257 Expenditure on.. Costs ol generatlng donatlons and legacies HMRC IRC Grant Glftald 215 46,624 46,839 4,995 4,995 4,995 4,995 Total ol expendlture on ralslng f unds Charitable activllles Grants- Reslricled BFSS Grants-Restrlcted MKCF Grants-Restricted RNCSB Grants-Restricted SEMLEP Grants-Restrlcled SESF Grants-MKCC Grants-The Royal Sprlngboard Donations made 4,995 4,995 46,839 12.147 331 331 500 1.825 1,825 Page 24

Sievemk Sateway Ltd Detailed Statement of Financial Activities Grants made 536 13,183 2,156 2,156 Tolal of expendlture on charllable activities 2,156 2,156 13,183 En7ployee costs Salarieslwages Pension costs 59,511 1,153 60,664 59,511 1,153 60,664 45.939 45,939 Motor and travel costs Vehicles - General costs Vehicles- Fuel Vehlcles- Insurance and Ilcences Vehicles- Repairs and mainlenanGe Travel and subslstence 30 2,189 1,495 1.027 809 5,550 2.169 1,495 1,027 809 5.550 1,555 648 1,628 189 4,020 Premises costs Light, heat and power Premises cleaning Premise$ repalrs and malntenance 11 1,797 246 2.054 11 1,797 246 2,054 976 626 1,602 General admln131ratlve c05t$, Ineludlng depreciation and amort15ation Deprecialion ol Planl and machlnery Depreclallon ol Molor vehlcles Depreciallon of FIXt￿re8, flllings and equipment Bank charges Advert and publlclly General Insurances Postage and courlers stallonery and printlng Subscrlptions Examlnatlon fees Tea¢h8rs' fees Oftlce expenses Sundry expenses Telephone, lax and broadband 1,181 1,181 3,355 1.515 116 2,506 1,180 2,506 1.180 2,332 600 559 34 1,146 5,261 38,546 23,275 2,309 52 1,074 80,174 45 1.724 3,905 62.731 34,707 6,695 1,029 717 116,420 45 1,724 3,905 62,731 34.707 6,695 1,029 717 116,420 Legal and professlonal costs Other legal and protessional costs 367 367 Total ol expendlture ol other costs Tolal expendilure Net galns on Snvestments 184,688 191,839 184,688 191,839 132,102 192,124 Net Income 15,6081 17,257 11,649 8,060 Page 25

Sievemk Gateway Ltd Detailed Slate menl ol Financial Activities Net income belore other gainslllossesl Other Gains 15,6081 17,257 11,649 B,060 Net movement in funds 15,6081 17,257 11.649 8,060 Re¢onclliation ol funds-. Total funds brought forward 142,236 119,356 261.592 253.532 Total lunds carried forward 136,628 136,613 273,241 261,592 Signature: Email.. olaitanl@ymail.com 012114nQE.Trwy4wlSep20,20￿yI2￿tfj￿lT￿I) EmaSL stuartbuike@hotmail.co.uk Page 26