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:
- Mayor Making & Civic Reception
- Cricket & Family Fun Day in collaboration with Friends of the Caribbean Association
- The Mayor's Cookbook – Marie Bradburn
- Non-Uniform Day - Holne Chase Primary School
- A Concert for Peace – Church of Christ the Cornerstone
- Business Competition - The Webber Independent - Year 10 Business Students
- The Mayor's Christmas Concert – Church of Christ the Cornerstone
- Cycling Fundraiser – Tony Oyakhire (CEO) & The 3Wheelers
- Swimathon – RotaryMK
- International Women’s Day Power Breakfast
- Mayor's Awards – Raffle & Virtual Cycling
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.
- Fundraising via MK Council’s BetterPoints app, encouraging eco friendly habits.
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:
- 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 Institute of Financial
Accountants
Anchor Business Solutions Ltd
- 1 24 Acorn House,
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
- 1 Accounting policies
## 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
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
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
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the 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.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
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.
- Other expenditure These are support costs not allocated to a particular activity.
## 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