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← Sievemk Gateway Ltd

2024-12-31-accounts

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Trustees' Report and Unaudited Accounts

31 December 2024

Sievemk Gateway Ltd Contents

Pages
Trustees'AnnualReport 2 to 6
IndependentExaminer'sReport 7
Statement of FinancialActivities 8
SummaryIncomeandExpenditure Account 9
BalanceSheet 10
Statement ofCashflows 11
Notesto the Accounts 12 to 20
DetailedStatement of FinancialActivities 21 to 23

Page 1

Sievemk Gateway Ltd Trustees Annual Report

Registered Company number

07886477(England and Wales)

Registered Charity number

1146451

Registered Office

599 Avebury Boulevard Milton Keynes. Buckinghamshire. MK9 3HR

Trustees

Miss Mofiyinfoluwa Ogunyeye Miss Jessica Oyakhire (Resigned 09/12/24) Miss Kerrie Bradburn Mrs J A Gilzene Mrs Olaitan Ogunmoyela (Resigned 30/06/24) Mr Stuart Burke (Chair)

Accountants/Independent examiner

Tolulope Fasanya Anchor Business Solutions Limited Units 1-24 Acorn House 351-397 Midsummer Boulevard Milton Keynes. MK9 3HP

Bankers

NatWest Bank 501 Silbury Boulevard Saxon Gate East Milton Keynes. MK9 3ER

Metro Bank

One Southampton Row London. WC1B 5HA

Page 2

Sievemk Gateway Ltd Trustees Annual Report

SIEVEMK Gateway Ltd

Report of the Trustees for the year ending 31st December 2024

OBJECTIVES AND ACTIVITIES

Mission, Vision, Values and Principles

Our mission remains to provide an educational gateway through which our community is inspired, mentored, and empowered. Our vision guides us — enabling every community member to realize their full potential. We uphold values of Hope, Inclusiveness, Partnerships, Positive Communication, Innovation, and Excellence.

Our Activities

We combat educational underachievement—particularly among BAME youths—through accessible and affordable programmes that help individuals gain qualifications and employability skills.

Our Scholar’s Programme is a key part of this effort, identifying and supporting high-potential students with tailored mentoring, enrichment activities, and academic guidance to nurture their aspirations and potential.

Partnering with companies and community bodies, we address barriers such as language, lack of role models, low aspiration, and limited workplace exposure.

We deliver tailored learning and mentoring that builds confidence , competence , and holistic development . Together, we strive to Create Opportunities , Deliver Excellence , and Change Lives .

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

SMK Gateway is a company limited by guarantee (19[th] December 2011), registered as a charity with the Charity Commission (Memorandum & Articles dated 13 March 2012)

Appointment of Trustees

Trustees are carefully selected for their expertise and alignment with our mission. The Board interviews candidates and votes to appoint new trustees.

Trustee Induction and Training

New trustees are briefed on constitutional documents, strategic plans, financial position, roles, duties, and legal obligations—particularly in relation to safeguarding and charity law. They’re encouraged to attend training on relevant subjects.

Organisation

The Board meets regularly and delegates operational management to the CEO, who oversees finance, staffing, performance, and key performance indicators (KPIs). Trustees focus on governance, strategy, safeguarding, finance, HR, and PR.

Risk Management

Our Risk Management Strategy includes a comprehensive risk register, project-based risk assessments, mitigation planning, and regular reviews, ensuring contingency and awareness across operations.

Page 3

Sievemk Gateway Ltd Trustees Annual Report

Public Benefit Statement

SMK Gateway’s activities are focused on long-term positive impact in Milton Keynes, providing education and support to enhance prospects and life outcomes—fully aligned with our charitable objectives under the Charities Act 2011.

ACHIEVEMENTS AND PERFORMANCE 2024

A Year of Growth, Recognition and Resilience

In its 17th year, SMK Gateway continues to flourish—from a supplementary education provider to a leading community institution.

SMK Gateway was honoured to be selected as the Mayor's chosen charity for 2024/2025 by Cllr. Marie Bradburn, who has been a tremendous support to us over the years before transitioning full time to her role as a councillor and now Mayor. Throughout this year, we have been fortunate to benefit from a variety of fundraising events that have helped bring us closer to that vision of having a forever home. Below are the fundraising events:

Since inception till end of this financial year (2007-2024) SMK Gateway has delivered the following:

Delivered 23,919+ hours of teaching and mentoring. Supported 3,635+ learners across age groups. Enabled 7,750+ adults to sit professional exams in our certified centre. Provided employability coaching to 400+ individuals. Secured over £185,000 for adult training initiatives.

Programmes That Change Lives

Tutoring & Mentoring : One-to-one and group sessions in Maths, English, and Science. Scholars Programme : Aided 30+ students in accessing boarding scholarships. Professional Exams : Support across GCSE, A-Level, Functional Skills, AAT, ISEB, MOS. SEND & EHCP Support : Referrals surged 20–25%; tailored academic and social support.

Refugee & ESOL Support (Breaking Limits) : Supporting integration through English and skills training.

Care - Experience Support (Recovery After Covid): Emotional and academic assistance for Looked After Children.

Page 4

Sievemk Gateway Ltd Trustees Annual Report

Community Engagement Highlights

Free Summer Programme for families, delivering educational play during holidays.

FIA Girls on Track UK: 10 girls took part in STEM activities at Cosworth in celebration of Women in Engineering Day.

The Seed Centre: Building Our Future

Land secured and all pre-commencement conditions satisfied to all ground works to start early 2025.

Working with developers and pro bono professionals to advance towards full build-phase funding— this cornerstone project will become a dedicated learning, training, and community centre.

Social Media & Public Feedback

Instagram and LinkedIn showcase celebratory events—e.g. “community, food, music & love” in June 2024.

A wealth of five-star reviews on Google and Facebook, praising our inclusive approach and powerful impact.

D attached STRATEGIC PLAN & FUTURE OUTLOOK

Objectives 2025 Target
Creating Opportunities ▪
10% plus KS3–5 pupil engagement
▪
Launch of KS2 class
▪
Increased Functional Skills uptake
▪
20 adult learners through Breaking Limits
▪
5 bursary placements
▪
Expanded Scholar’s Programme to nurture high-
potential learners through academic and personal
development support
▪
≥90% attendance and learner satisfaction
▪
Expanded subject portfolio
▪
Review and refinement of Theory of Change
Secure Funding ▪
Ongoing core fund applications
▪
Development of long-term strategic funding
partnerships
New Home -Seed Centre ▪
Ground-breaking
▪
Planning conditions all discharged
▪
Construction commencement in 2025

Page 5

Sievemk Gateway Ltd Trustees Annual Report

Alternative Provision

▪ Increased referrals to hybrid schooling model from Milton Keynes schools

STRATEGIC ALIGNMENT WITH MILTON KEYNES CITY DEVELOPMENT

Technology and employability programmes present growing partnership opportunities.

SMK's emphasis on technical and vocational skills aligns directly with Milton Keynes Tech 2025 (22– 26 September), which showcases AI, robotics, and adult learning pathways.

ACKNOWLEDGEMENTS

We extend heart-felt thanks to our trustees, staff, volunteers, funders (including Royal Springboard, Paul Hamlyn Foundation, Milton Keynes Council, BFSS, MK Rotary Club, Webber Independent School, community partners, VW, Nifty Lift and other local businesses.

CEO’S NOTE

“''2024 has tested us in ways we did not expect. We faced setbacks, including a venue move and a loss of vital revenue, but our spirit and purpose have remained unshaken. It was an honour to be chosen as the Mayor’s Charity this year - a testament to the belief others have in our mission. The passing of the Mayor’s husband, Robin, who was himself a pillar of support for SMK, reminded us of the power of community and the legacy of kindness we all share.

Yet through these challenges, we continue to stand strong and focussed. With the unwavering support of our partners, the generosity of the public, and the commitment of our stakeholders, we look ahead with renewed determination. Together, we will bring the Seed Centre to life and keep creating opportunities and futures without limits for the young people we serve.''.” Tony Oyakhire, Chief Executive Officer

Page 6

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 2024.

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

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Financial Accountants, which is one of the listed bodies.

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.

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Tolulope Fasanya, AFA MIPA Institute of Financial

Accountants

Anchor Business Solutions Ltd

351-397 Midsummer Boulevard

Milton Keynes

Bucks

MK9 3HP 14 July 2025

Page 7

Sievemk Gateway Ltd Statement of Financial Activities

for the year ended 31 December 2024

for the year ended 31 December 2024
SievemkGatewayLtd
Statement ofFinancialActivities
Notes
Income and endowments
from:
Donationsandlegacies
4
Charitableactivities
5
Other tradingactivities
6
Other
7
Total
Expenditure on:
Raisingfunds
8
Charitableactivities
9
Other
11
Total
Netgainsoninvestments
Netincome
Transfersbetweenfunds
Netincome before other
gains/(losses)
Othergainsandlosses
Net movementinfunds
Reconciliation of funds:
Totalfundsbroughtforward
Totalfundscarriedforward		 Unrestricted
funds
2024
£
9,190
-
218,942
5,718		 Restricted
funds
2024
£
-
19,150
-
-		 Totalfunds
2024
£
9,190
19,150
218,942
5,718		 Totalfunds
2023
£
4,378
59,552
229,118
-
233,850
15,225
2,724
219,215		 19,150
-
12,193
-		 253,000
15,225
14,917
219,215		 293,048
3,595
5,314
212,879
237,164
-		 12,193
-		 249,357
-		 221,788
-
(3,314)
-		 6,957
-		 3,643
-		 71,260
-
(3,314) 6,957 3,643 71,260
(3,314)
230,531		 6,957
113,970		 3,643
344,501		 71,260
273,241
227,217 120,927 348,144 344,501

Page 8

Sievemk Gateway Ltd Summary Income and Expenditure Account

for the year ended 31 December 2024

Income
Gross incomefor the year
Expenditure
Totalexpenditurefor the year
Netincome before taxfor the year
Netincomefor the year		 2024
£
253,000
253,000
249,357
249,357
3,643
3,643		 2023
£
293,051
293,051
221,791
221,791
71,260
71,260

Page 9

Sievemk Gateway Ltd Balance Sheet

at 31 December 2024

Company No. 07886477 Notes 2024 2023
£ £
Fixed assets
Tangibleassets 13 31 31
31 31
Current assets
Debtors 14 129,383 87,391
Cashat banka andin hand 236,937 297,715
366,320 385,106
Creditors: Amountfallingdue within one year 15 (6,603) (20,513)
Netcurrent assets 359,717 364,593
Totalassets lessc currentliabilities 359,748 364,624
Creditors: Amountsfallingdueafter more than one year 16 (11,604) (20,123)
Net assetsexcludingpension asset orliability 348,144 344,501
Totalnet assets 348,144 344,501
Thefundsofthec charity
Restrictedfunds 17
Restrictedincomefunds 120,927 113,970
120,927 113,970
Unrestrictedfunds 17
Generalfunds 227,217 230,531
227,217 230,531
Reserves 17
Totalfunds 348,144 344,501

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 14 July 2025

And signed on its behalf by:

Stuart Burke Trustee 14 July 2025

Page 10

Sievemk Gateway Ltd Statement of Cash flows

for the year ended 31 December 2024

Cashflowsfrom operatingactivities
Netincome perStatement ofFinancialActivities
Adjustmentsfor:
Dividends,interestand rentsfrominvestments
Increasein tradeand other receivables
(Decrease)/Increasein tradeand other payables
Netcash(usedin)/provided by operatingactivities
Cashflowsfrominvestingactivities
Dividends,interestand rentsfrominvestments
Netcashfrominvestingactivities
Cashflowsfromfinancingactivities
Repayment ofborrowings
Netcash usedinfinancingactivities
Net(decrease)/increaseincash andcash equivalents
Cash andcash equivalentsat the beginningofthe year
Cash andcash equivalentsat the end ofthe year
Componentsofcash andcash equivalents
Cashand bankbalances		 2024
£
3,643
(5,718)
(41,992)
(15,409)
(59,476)
5,718
5,718
(8,519)
(8,519)
(62,277)
297,715
235,438
236,937
236,937		 2023
£
71,260
-
(33,266)
12,279
50,273
-
-
(8,519)
(8,519)
41,754
278,316
320,070
297,715
297,715

Page 11

Sievemk Gateway Ltd Notes to the Accounts

for the year ended 31 December 2024

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year.

assets

Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 12

Sievemk Gateway Ltd Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs.

Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Plantand machinery 25%Straightline
Motor vehicles 25%Straightline
Fixtures,fittingsand
equipment		 25%Straightline

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 13

Sievemk Gateway Ltd Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 14

Sievemk Gateway Ltd Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

3
Statement ofFinancialActivities-prior year
Income and endowmentsfrom:
Donationsandlegacies
Charitableactivities
Other tradingactivities
Total
Expenditure on:
Charitableactivities
Other
Total
Netincome
Netincome before other
gains/(losses)
Othergainsandlosses:
Net movementinfunds
Reconciliation of funds:
Totalfundsbroughtforward
Totalfundscarriedforward
4
Incomefrom donationsandlegacies
HMRCJRCGrant
Other Donations		 Unrestricted
funds
2023
£
4,380
-
229,119
233,499
6,733
212,882
219,615
13,884
13,884
13,884
216,647
230,531
Unrestricted
£
-
9,190
9,190		 Restricted
funds
2023
£
-
59,552
-
59,552
2,176
-
2,176
57,376
57,376
57,376
56,594
113,970
Total
2024
£
-
9,190
9,190		 Totalfunds
2023
£
4,380
59,552
229,119
293,051
8,909
212,882
221,791
71,260
71,260
71,260
273,241
344,501
Total
2023
£
(2)
4,380
4,378

Page 15

Sievemk Gateway Ltd Notes to the Accounts

5 Income from charitable activities

5
Incomefromcharitable activities
Grants-RestrictedBFSS
Grants-Restricted MKCF
6
Incomefrom other tradingactivities
Coaching&consultancy
income
Examinationcentre
Printing
7
Otherincome
Otherincome
8
Expenditure on raising funds
Costsofgenerating voluntary
income
HMRCJRCGrant
Giftaid
SMKNew Home		 Unrestricted
£
87,708
129,862
1,372
218,942
Unrestricted
£
5,718
5,718		 Total
2024
£
-
-
-
Total
2024
£
87,708
129,862
1,372
218,942
Total
2024
£
5,718
5,718		 Total
2023
£
19,138
7,850
26,988
Total
2023
£
76,688
151,057
1,373
229,118
Total
2023
£
-
-
Unrestricted
£
-
6,109
9,116
15,225		 Total
2024
£
-
6,109
9,116
15,225		 Total
2023
£
3,595
-
-
3,595

Page 16

Sievemk Gateway Ltd Notes to the Accounts

9 Expenditure on charitable activities

9
Expenditure oncharitable activities
Expenditureoncharitable
activities
Grantsmade
Governancecosts
Accountancyfees
10 Analysisof grants
Activity or programme
Grants-RestrictedSESF
Donationsmade
Grant-RestrictedSESF
Grant-SMK
Activity or programme
Grants-RestrictedSESF
Donationsmade
Grant-RestrictedSESF
Grant-SMK
11 Other expenditure
Employeecosts
Motorand travelcosts
Premises costs
Generaladministrativecosts
Legaland professionalcosts		 Unrestricted
£
1,224
1,500
2,724
Grantsto
Individuals
£
-
1,224
-
-
1,224
Unrestricted
£
144,927
5,852
5,950
60,402
2,084
219,215		 Total
2024
£
1,224
1,500
2,724
Total
2024
£
-
1,224
-
-
1,224
Total
2024
£
-
-
-
-
-
Total
2024
£
144,927
5,852
5,950
60,402
2,084
219,215		 Total
2023
£
1,888
1,250
3,138
Total
2023
£
-
1,888
-
-
1,888
Total
2023
£
-
1,888
-
-
1,888
Total
2023
£
125,006
6,091
2,115
79,667
-
212,879

Page 17

Sievemk Gateway Ltd Notes to the Accounts

SievemkGatewayLtd
Notesto the Accounts
12 Staffcosts
Salariesand wages
Socialsecuritycosts
Pensioncosts
No employee received emolumentsin excessof£60,000.
13 Tangiblefixed assets
Plant and
machinery
£
Cost or revaluation
At 1January 2024
14,694
At 31 December 2024
14,694
Depreciation and
impairment
At 1January 2024
14,683
At 31 December 2024
14,683
Net bookvalues
At 31 December 2024
11
At 31 December 2023
11
14 Debtors
Trade debtors
VATrecoverable
Other debtors
Land reservation
15 Creditors:
amountsfallingdue within one year
Tradecreditors
Other taxesandsocialsecurity
Loansfrom trustees
Othercreditors
Accruals
16 Creditors:
amountsfallingdueafter more than one year
Bankloansand overdrafts		 2024
140,001
734
4,192
144,927
Motor
vehicles
£
12,100
12,100
12,090
12,090
10
10
2024
£
28,677
22
25,432
75,252
129,383
2024
£
5,115
2,762
(8,764)
5,990
1,500
6,603
2024
£
11,604
11,604		 Fixtures,
fittingsand
equipment
£
4,078
4,078
4,068
4,068
10
10		 2023
120,847
1,071
3,088
125,006
Total
£
30,872
30,872
30,841
30,841
31
31
2023
£
33,225
22
9,432
44,712
87,391
2023
£
13,603
2,678
236
3,995
1
20,513
2023
£
20,123
20,123

Page 18

Sievemk Gateway Ltd Notes to the Accounts

17 Movement in funds

17 Movementinfunds
SievemkGatewayLtd
Notesto the Accounts
At 1January
2024
Restrictedfunds:
Restrictedincomefunds:
Grant-SEMLEP
8,225
Grant-SESF
30,449
Grant-Restricted MKCC
17,718
Grants-RestrictedBFSS
37,058
Grants-Restricted MKCF
7,850
Grants-RestrictedSMKAP
10,000
Grants-RestrictedSADAQA
840
Grant-TheRoyalSpringboard
551
SMKNew Home-Giftaid
1,279
Total
113,970
Unrestrictedfunds:
Generalfunds
230,531
Totalfunds
344,501
Purposesand restrictionsin relation to thefunds:
Restrictedfunds:
Grant-SEMLEP
Grant-Restricted MKCC
Grants-RestrictedBFSS
Grants-Restricted MKCF
Grants-RestrictedSMKAP
Grants-RestrictedSADAQA
Grant-TheRoyalSpringboard		 Incoming
resources
(including
other
gains/losses
)
£
-
-
14,243
-
-
-
-
3,117
1,790
19,150
233,850
253,000		 Resources
expended
£
-
-
(385)
-
-
-
-
(11,808)
-
(12,193)
(237,164)
(249,357)		 At 31
December
2024
£
8,225
30,449
31,576
37,058
7,850
10,000
840
(8,140)
3,069
120,927
227,217
348,144

18 Analysis of net assets between funds

Grants-Restricted MKCF
Grants-RestrictedSMKAP
Grants-RestrictedSADAQA
Grant-TheRoyalSpringboard
Analysisofnet assetsbetweenfunds
Fixedassets
Netcurrentassets
Creditorsduein more than one yearand
provisions		 Unrestricted
funds
£
31
359,717
(11,604)
348,144		 Total
£
31
359,717
(11,604)
348,144

Page 19

Sievemk Gateway Ltd Notes to the Accounts

19 Reconciliation of net debt

Reconciliation ofnet debt
emkGatewayLtd
esto the Accounts
Cashandcash equivalents
Bankloans
Net debt		 At 1January
2024
£		 Cashflows
£		 At 31
December
2024
£
297,715 (60,778) 236,937
297,715
(20,123)
(20,123)
277,592		 (60,778)
8,519
8,519
(52,259)		 236,937
(11,604)
(11,604)
225,333

20 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

Operatingleasecommitments
Annualcommitmentsunder non-cancellable operatingleases		 areasfollows:
2024
Land and
buildings
£
Operatingleaseswith expiry date:
Pensioncommitments
The pensioncostcharge to thecompany
amounted to:
21 Related party disclosures
Controlling party		 2024
2023
Other
Land and
buildings
£
£
2024
£
4,192		 2023
Other
£
2023
£
3,088

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 20

Sievemk Gateway Ltd Detailed Statement of Financial Activities

for the year ended 31 December 2024

for the year ended 31 December 2024
SievemkGatewayLtd
DetailedStatement ofFinancialActivities
Income and endowmentsfrom:
Donationsandlegacies
HMRCJRCGrant
Other Donations
Charitableactivities
Grants-RestrictedBFSS
Grants-Restricted MKCF
Grants-RestrictedSMKAP
Grants-RestrictedSADAQA
Grants-MKCC
SMKNew Home-Giftaid
Grant-TheRoyalSpringboard
Other tradingactivities
Coaching&consultancyincome
Examinationcentre
Printing
Other
Otherincome
Total income and endowments
Expenditure on:
Costsofgeneratingdonationsand
legacies
HMRCJRCGrant
Giftaid
SMKNew Home
Totalofexpenditure on raising
funds
Charitableactivities
Grants-MKCC
Grant-TheRoyalSpringboard
Grantsmade
Grantsmade		 Unrestricte
dfunds
2024
£
-
9,190
9,190
-
-
-
-
-
-
-
-
87,708
129,862
1,372
218,942
5,718
5,718
233,850
-
6,109
9,116
15,225
15,225
-
-
1,224		 Restricted
funds
2024
£
-
-
-
-
-
-
-
14,243
1,790
3,117
19,150
-
-
-
-
-
-
19,150
-
-
-
-
-
385
11,808
-		 Totalfunds
2024
£
-
9,190
9,190
-
-
-
-
14,243
1,790
3,117
19,150
87,708
129,862
1,372
218,942
5,718
5,718
253,000
-
6,109
9,116
15,225
15,225
385
11,808
1,224		 Totalfunds
2023
£
(2)
4,380
4,378
19,138
7,850
10,000
840
18,018
1,279
2,427
59,552
76,688
151,057
1,373
229,118
-
-
293,048
3,595
-
-
3,595
3,595
300
1,876
1,888

Page 21

Sievemk Gateway Ltd

Detailed Statement of Financial Activities

Governancecosts
Accountancyfees
Totalofexpenditure oncharitable
activities
Employeecosts
Salaries/wages
Employer'sNIC
Pensioncosts
Motorand travelcosts
Vehicles-Fuel
Vehicles-Insuranceandlicences
Vehicles-Repairsand
maintenance
Travelandsubsistence
Premises costs
Light,heatand power
Premises cleaning
Premisesrepairsand
maintenance
Generaladministrativecosts,
includingdepreciationand
amortisation
Depreciation of Plantand
machinery
Depreciation ofMotor vehicles
Depreciation of Fixtures,fittings
and equipment
Bankcharges
General insurances
Advertand publicity
Postageandcouriers
Stationeryand printing
Subscriptions
Examinationfees
Training
Office expenses
Sundry expenses
Telephone,fax and broadband
Legaland professionalcosts		 1,224
1,500
1,500
2,724
140,001
734
4,192
144,927
1,956
1,816
697
1,383
5,852
30
1,546
4,374
5,950
-
-
-
2,682
-
1,360
188
1,971
4,791
39,951
1,363
6,157
484
1,455
60,402		 12,193
-
-
12,193
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 13,417
1,500
1,500
14,917
140,001
734
4,192
144,927
1,956
1,816
697
1,383
5,852
30
1,546
4,374
5,950
-
-
-
2,682
-
1,360
188
1,971
4,791
39,951
1,363
6,157
484
1,455
60,402		 4,064
1,250
1,250
5,314
120,847
1,071
3,088
125,006
1,984
1,226
216
2,665
6,091
-
1,770
345
2,115
-
-
-
3,014
630
2,530
89
2,154
3,460
58,098
1,034
7,835
-
823
79,667

Page 22

Sievemk Gateway Ltd

Detailed Statement of Financial Activities

SievemkGatewayLtd
DetailedStatement ofFinancialActivities
Otherlegaland professional
costs
Totalofexpenditure ofothercosts
Totalexpenditure
Netgainsoninvestments
Netincome
Netincome before other
gains/(losses)
Other Gains
Net movementinfunds
Reconciliation of funds:
Totalfundsbroughtforward
Totalfundscarriedforward		 2,084
2,084
219,215
237,164
-
(3,314)
(3,314)
-
(3,314)
230,531
227,217		 -
-
-
12,193
-
6,957
6,957
-
6,957
113,970
120,927		 2,084
2,084
219,215
249,357
-
3,643
3,643
-
3,643
344,501
348,144		 -
-
212,879
221,788
-
71,260
71,260
-
71,260
273,241
344,501

Page 23