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] 

Page 8 



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: 

- accounting records were not kept in accordance with section 386 of the 2006 Act ; or 

- the financial statements do not accord with those records; or 

- the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or 

- the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

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