ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
GATEWAY CHURCH DARTFORD LTD
(COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NUMBER 1148119 COMPANY REGISTRATION NUMBER 08064671
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
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Page
Legal and Administrative Information 3
Directors' Report 4 to 6
Independent Examiner's Report on the Accounts 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 to 19
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GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
WORKING NAMES Gateway Church CHARITY NUMBER 1148119 COMPANY REGISTRATION NUMBER 08064671 DATE OF REGISTRATION 10th May 2012 START OF FINANCIAL YEAR 01 January 2023 END OF FINANCIAL YEAR 31 December 2023 DIRECTORS AT 31 DECEMBER 2023 Mrs Carol Adjal-Mensah Ms Jasmine Farrell Mrs Beverley Veersawmy
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
GOVERNING INSTRUMENT Memorandum and Articles Incorporated on 10th May 2012.
OBJECTS
a) To advance the Christian faith in accordance with the statement of beliefs appearing in the schedule to the articles hereto attached including but not by way of limitation through the planting of other churches in such ways and in such parts of Dartford, Kent, the United Kingdom or the World as the directors from time to time may think fit;
b) To further Christian education in such parts of Dartford, Kent, the United Kingdom and the World as the directors may from time to time think fit;
c) To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods and services of any kind, including through the provision of counselling, training in life skills and support in such parts of Dartford, Kent, the United Kingdom or the World as the trustees from time to time think fit;
d) To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
CORRESPONDENCE ADDRESS
PRIMARY BANKERS
Cobden House 43 Spital Street Dartford Kent DA1 2DR HSBC Bank Plc 38 High Street Dartford Kent DA1 1DG
INDEPENDENT EXAMINER
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
3
GATEWAY CHURCH DARTFORD LTD
(COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2023
The Directors present their report for the period ended 31 December 2023 together with the financial statements for the period then ended.
Objects
The objects of the charity are as set out on page 3 of these financial statements. These objects are primarily being met through the holding of weekly meetings, together with one-off events, social activities and the allocation through gifts of funds to such organisations or individuals that the trustees feel fit from time to time. The review of activities below gives further detail.
Financial Context and Background
The reader of these accounts will note that unrestricted income was up slightly on the previous year. The church continued to operate from St Mary’s Primary school in Stone.
Expenditure was similar to last year with less spend on rent and more on other activities/expenses.
Minimal restricted funds remain for Homeless Work and Training.
Reserves
The current reserves of the charity stand at £66,036 of which £65,447 resides in unrestricted funds as detailed in note 6 to the financial statements. It is the policy of the charity to retain at least £13,000 in unrestricted reserves. This is considered sufficient to cover any essential expenditure for the period of 3 months.
Reserves are still much higher than this, but it is the plan of the trustees to continue saving funds to enable the charity to operate out of its own facility, which will provide a better base for the church's activities to grow. Additionally, the employment of a community/young people's worker is being considered, which would reduce these funds. This is ongoing, as we still need to secure an ideal location.
Review of Activities
The church held weekly meetings on Sunday mornings and regular Wednesday evening gatherings.
In 2023, various activities were conducted to build relationships between the school and the church. “Love in a Box,” a ministry designed around the Christmas period, targeted families experiencing hardship so the church could be a blessing to the community.
The prayer life of the church continues to be of high importance, and this was incorporated every other Wednesday. Additional meetings within the servant group to pray and plan take place monthly.
All regular church meetings are held with the ultimate goal of building relationships, teaching and sharing the good news of Jesus, and encouraging people along their faith journey.
Pastoral Support & Community
• We continue to support those within our church and local community pastorally. Our main focus of support for this year has been:
-
Supporting the community via the school
-
Hosting Wednesday meetings throughout the locality by rotating among different homes
-
Working with the trustees to support a particular charity financially; we are currently finalizing paperwork with New Zion Healing Centres.
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Creating opportunities to meet new people via small groups, starting in Summer 2023 and ongoing.
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GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
Organisational Structure
The charity has a committee of trustees, elected and serving as set out in the Declaration of Trust. These trustees are responsible for all financial decisions and controls. Decisions involving new spending in excess of £300 are made at trustee meetings by a majority vote.
The senior pastors are able to authorize expenditures under £300.
Pastorally, the church has two senior pastors who are responsible for the running and direction of the church. Additionally, a “core team” and a “servant group” help in the running and coordination of various smaller groups and activities, alongside several other volunteers.
Connected Organisations
The church is a member of the Evangelical Alliance and part of the Assemblies of God Great Britain.
Internal Controls
The charity exercises what are considered by the trustees adequate internal controls over all financial transactions, in proportion to it size and volume of transactions.
Risks
The trustees have currently identified no major risks within the charity. The trustees keep these under review, and if any arose, suitable action would be taken, including the utilisation of professional advice if necessary.
Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.
Going Concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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GAYEWAY CHURCH DARTFORD LTO (COMPANY LIMZTED BY GUARANTFEI DIRECTORY REPORT (Contloued) FOR THE YEAR ENDED 31sr DECEMBER 2013 Dlrectots. Respo1111t1eS stat•ment of Lltrectors. Responsbfltk5: The CharIt5 Act 2022 and the Companfts Att 2006 requwe the dIrect5 to prepare ffiancial statement5 fty each anCL?1 glve a true and fair VI or the state of affairs of thet(mpany as at the ofthe finan£L41 year and orthe surpkns er deficit clthe charKy in accwdance th the wu1mentS ofsectkns 394 and 395 ef the Cornpanfes Act 2006 arld whkh otherwtse comply 1th f(s re9ukernt$ reilng to financL81 statements, so far as appltable to the charab cpanY. In preparkng those financd statwDents the dlrect<Ks are rrfulred to:" al select suY(abk accwntlng pdlcle5 and then èppty ¢ansLgt)tlyj bl rnake judgements ant1 estlmate5 that we rea50nab and prudent., c) prepare the financ1 staternents the gohg cmctrn basLs Is Inapproprjate to presume that the crmpany contknue in bu51ne5S.' dl state whether applkabk accounting standards StatentS cf recomrnended prartte have been Fdw, 5uble¢t to any materlal éepar(ures dlscbjsed and expkrylned In the fln)nckg1 stateMt$. The Dlrettors are al%0 respcnslble for maIntnkng ade4vate aceountlng Tecords whth dL%ckse wlth reAscnable cUr{ at ony tkne the financlal posltbn of the company and Y4hich a sUffent to show and explaln the cornpanvs tranSaCtnS and enab them to ensure that the flnanclal sratemenrs ctsnply %¥lth Sectbns 386 and 387 d the Companle5 Act 2006 and compty wh regybtlths ¢n8de undtr the Charlts Act. They are also re5pon5ible fcf 5)feyuardlng the assers ofthe company and hence for taklng reaSab steps fcr ttle preventlffl and tleterth)n Of fraud and other Irregul¥ttks. The Dlwt¢ys are 0 respmslble for the Dlrectors. report, the resp¢ftsb11f(y of tthe kndependt ¢xamLner kn relatbn to thé DIreCtS, report ts ithr(ed to exarnknSng the Tepvt and en5urkng rhat ¢n thè fa¢e of the report there are no kncOnststc th th4 figures dtsclosed In the flnanckil statements. These accounts have been preparthl In a¢cordan¢e vltth rhe prOvbhS aPpllcab to compan5 subject to the Small compart$ rffglrne. l approve the attsCh $trt•Jnent rf financ1 ¥tMt*s and bal¢4 8hqrt and ccfflflrrn that J he made avauable all Inlormatkn necessary lor Its preparatknn. Apprmj by the Dlrectors the.-.......... SlJThed on thdr beh8W by DKttr....... .... int NaTre...
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023
Report to the trustees/ members of Gateway Church Dartford Ltd on the accounts for the year ended 31st December 2023.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
-
have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 12th September 2024
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GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2023
| Notes INCOMING RESOURCES Donations & Legacies 3a Investment Income 3b Charitable Activities 3c TOTAL INCOMING RESOURCES Costs of Charitable Activities 4a Costs of Generating Funds 4b NET INCOMING/(OUTGOING) RESOURCES TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD NET MOVEMENT IN FUNDS RESOURCES EXPENDED TOTAL RESOURCES EXPENDED TRANSFERS BETWEEN FUNDS |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2023 2022 £ £ £ £ 31,589 - - 31,589 43,518 52 - - 52 8 - - - - 200 |
|---|---|
| 31,641 - - 31,641 43,726 |
|
| 35,634 544 - 36,177 36,287 24 - - 24 349 |
|
| 35,658 544 - 36,201 36,636 |
|
| (4,017) (544) - (4,561) 7,090 |
|
| (3,600) - 3,600 - - |
|
| (7,617) (544) 3,600 (4,561) 7,090 |
|
| 59,664 1,133 9,800 70,597 63,507 |
|
| 52,047 589 13,400 66,036 70,597 |
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages:-
10 to 19
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GATEWAY CHURCH DARTFORD LTD {COMPANY LIMITED BY GUARANTEE) AS AT 31 DECEMBER 2023 Unre5trrted Ae5trrt Fund Funds Totrl Tot•1 31-DBc-23 31-DRtr22 Notes Tangle Asstts 2,886 286 3.63Q Debtcs & wep3ymts Cash at bank and in han 3,354 62.671 3,354 63.260 2.087 67.253 589 Total CurnntAss•ts Cd(l•' due whkn oneyear io 3A65 3h65 2.374 62,561 589 63,150 66,966 TOTAL ASSEfs Jess current Habnf(S 64447 70.597 CredIt. duE In rnrKethon ear li Fuf4DS OF nlE CM GÈn¥al Funds Retr Funds l)e5bJnated Funds 52,047 52,047 589 13.400 59,664 1,133 9,800 589 13.400 TOTAL FUNDS 447 F¢Y the year endÈd 31st Detember 2023. The Ditt¢rs ère satisfied the Charitab company ivas to exemption from the abtam 8n audit und section 477 of the CempanR5 Act 2006 rethg to smal cempans. The members have nct requw& the CLxnpanyto obtaii an audit for the year in questi in arc¢rd4nce yth 5ertlrm 476 of the Crrnpanie5 Act. in acccrdance wkh 145 c the (heKtQ5 Art 2022, the a¢¢ewnts have been exam¥ied by an Indepwdent Exaffler those ¢rt •p&rs (er the Nrtes to the Financd Statements. The Dr¥t¢r(sl 8ckn¢x¥kdgethar tespcmSbY for ¢tpty1)g %ith the requiwnwts rfthe C4mpan5 Art 2006 respect to cwntkng records and the preparotknn The 8ccwnts have been preparèj in accc¢dance wtth the provisiS in Part 15 ofthe Comp1&% Prt 2006 appab to companies subJect to the sm¥1 companie5 regtrne ano Jn xcoroaice FP5102 SORP. The dyecttrs xkn¢Thledge thetr responsibrftyfer ensuring that the tompany keÈps proper aCCthg rerryd5 which ccrnp wlth sectlms 386 of the Act 2006 and for prepathng financial Star&nt% whh give a true and farviÈw of the state of affairs of the cpanY 65 4t the of the yearand of it5 profit and tss for thefir¢8ncial year hi accordance with the r4uir8nent clsectijns 394 and 395 and otherwse syith the reouretnents of the CompHnE5 Att 2U06 to acc(yJnts, so far as app[tab to the company. Apprcv&4 by the Dtr¥tors on th&........... .. ........ Sbned cn thér behby Dtc............. t 14ame=.- Company Rg2istrtti) Numb*". ted OffiTr'. 08064671 Ccoden House 43 Spltal Street DAI 2DR
GATEWAY CHURCH DARTFORD LTD
(COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023
1. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
Basis of preparation:
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2022.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
-
the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Incoming Resources with Related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.
Volunteer Help
The value of any voluntary help received is not included in the accounts and is described in the Report of the Trustees.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
This page does not form part of the statutory financial statements
10
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Pensions
Pension contributions are charged to the Statement of Financial Activities as they become payable.
Fund Accounting
Funds held by the charity are either:
1. Unrestricted funds
These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
2. Restricted funds
These are funds that can only be used for particular restricted purposes within the objects of the charity.
3. Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
| PA & Musical Equipment | 20% |
|---|---|
| Church Equipment | 20% |
| Office Equipment | 20% |
| Computer Equipment | 20% |
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
This page does not form part of the statutory financial statements
11
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023
2. TANGIBLE FIXED ASSETS
| Additions Accumulated Depreciation At 1 January 2023 Charge for the Year At 31 December 2023 Cost At 1 January 2023 At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022 |
Computer Equipment Office Equipment Church Equipment PA & Musical Equipment 2023 £ £ £ £ £ 9,387 175 4,713 7,837 22,112 - - - - - |
|---|---|
| 9,387 175 4,713 7,837 22,112 |
|
| 7,660 175 4,578 6,069 18,482 345 - 27 372 745 |
|
| 8,005 175 4,605 6,442 19,227 |
|
| 1,382 - 108 1,396 2,886 |
|
| 1,727 - 135 1,768 3,630 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2023 : None
31st December 2022 : None
This page does not form part of the statutory financial statements
12
GATEWAY CHURCH DARTFORD LTD
(COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
| 3. INCOMING RESOURCES Note c) Other ordinary incoming resources Gifts & Donations a) Donations & Legacies Church collections b) Investment Income Bank interest Asset surplus Income Tax Recovered |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2023 2022 £ £ £ £ 136 - - 136 2,564 25,714 - - 25,714 35,322 5,738 - - 5,738 5,633 |
|---|---|
| 31,589 - - 31,589 43,518 |
|
| 52 - - 52 8 |
|
| 52 - - 52 8 |
|
| - - - - 200 |
|
| - - - - 200 |
This page does not form part of the statutory financial statements
13
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
4. RESOURCES EXPENDED
| Note b) Cost of Generating Funds Advertising & Publicity Administrative Expenses Children's Work Cleaning Costs Charitable Activities:- Grants License & Subscriptions Outreach Costs Depreciation Expense Equipment Costs Gifts & Donations Sundry Expenses Telephone Costs Training Costs Travel & Hospitality Visiting speaker fee Website Pastor's Expenses Pension Costs Rent & Rates Salaries & N.I Youth Work Loss on sale Fixed asset Love in a Box Insurance Governance costs:- Independent Examiner's Fees Bank charges Legal & professional fees |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2023 2022 £ £ £ £ 1,160 - - 1,160 930 - - - - 329 46 - - 46 - 745 - - 745 962 584 - - 584 237 304 - - 304 381 - - - - 50 948 - - 948 904 554 - - 554 1,265 1,073 - - 1,073 198 1,341 - - 1,341 1,278 5,620 - - 5,620 8,275 16,768 - - 16,768 15,969 405 - - 405 157 77 - - 77 73 1,692 - - 1,692 1,001 637 - - 637 348 500 - - 500 830 575 - - 575 555 570 - - 570 272 - - - - 55 292 544 - 835 331 646 - - 646 923 750 - - 750 720 105 - - 105 91 244 - - 244 154 |
|---|---|
| 35,634 544 - 36,177 36,287 |
|
| 24 - - 24 349 |
|
| 24 - - 24 349 |
This page does not form part of the statutory financial statements
14
GATEWAY CHURCH DARTFORD LTD
(COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| PREVIOUS FINANCIAL YEAR Homeless Support Training Fund Total Restricted Funds Homeless Support Training Fund Total Restricted Funds |
Balance Unrealised Balance 01-Jan-23 Income Expenditure Gain/Loss Transfer 31-Dec-23 £ £ £ £ £ £ 544 - (544) - - - 589 - - - - 589 |
|---|---|
| 1,133 - (544) - - 589 |
|
| Balance Unrealised Balance 01-Jan-22 Income Expenditure Gain/Loss Transfer 31-Dec-22 £ £ £ £ £ 587 - (43) - - 544 589 - - - - 589 |
|
| 1,176 - (43) - - 1,133 |
The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
This page does not form part of the statutory financial statements
15
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
6. UNRESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| Building Fund Designated Funds:- Total Designated Funds General Funds Total General Funds |
Balance Unrealised Balance 01-Jan-23 Income Expenditure Gain/Loss Transfer 31-Dec-23 £ £ £ £ £ £ 9,800 - - - 3,600 13,400 |
|---|---|
| 9,800 - - - 3,600 13,400 59,664 31,641 (35,658) - (3,600) 52,047 |
|
| 69,464 31,641 (35,658) - - 65,447 |
PREVIOUS FINANCIAL YEAR
| Building Fund Designated Funds:- Total Designated Funds General Funds Total General Funds |
Balance Unrealised 01-Jan-22 Income Expenditure Gain/Loss Transfer 31-Dec-22 £ £ £ £ £ 6,200 619 (619) - 3,600 9,800 - |
|---|---|
| 6,200 619 (619) - 3,600 9,800 56,130 43,107 (35,974) - (3,600) 59,664 |
|
| 62,330 43,726 (36,593) - - 69,464 |
This page does not form part of the statutory financial statements
16
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
7. INVESTMENTS
The Charity held no investment assets during this or the previous financial period.
8. CASH AT BANK AND IN HAND
| 8. CASH AT BANK AND IN HAND | |
|---|---|
| Current A/c CAF Bank A/c |
Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Dec-23 31-Dec-22 £ £ £ £ - - - - 51,708 49,271 589 13,400 63,260 15,545 |
| 49,271 589 13,400 63,260 67,253 |
9. DEBTORS AND PREPAYMENTS
| Gift Aid Tax Recoverable Sundry accounts receivable |
Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Dec-23 31-Dec-22 £ £ £ £ 454 - - 454 454 2,901 - - 2,901 1,633 |
|---|---|
| 3,354 - - 3,354 2,087 |
10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR
| Sundry Creditors Independent Examiner's Fee |
Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Dec-23 31-Dec-22 £ £ £ £ 2,715 - - 2,715 1,654 750 - - 750 720 |
|---|---|
| 3,465 - - 3,465 2,374 |
11. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial period.
This page does not form part of the statutory financial statements
17
GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
12. STAFF COSTS AND NUMBERS
| TOTAL 2023 £ Gross Wages & Salaries 16,768 Employer's National Insurance Costs - Employer's Pension Contributions 1,341 18,109 Average number of employees who were engaged in each of the following activities: TOTAL 2023 Charitable Activities 2 |
TOTAL 2022 £ 15,969 - 1,278 |
|---|---|
| 17,247 | |
| TOTAL 2022 2 |
Charitable Activities
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2022 - None)
13. CAPITAL AND RESERVES
The Company is Limited by Guarantee (08064671) and it is a charity registered with the Charity Commission (1148119).
It does not have a Share capital and has no income subject to Corporation Tax.
| Profit / Deficit for the financial year Other Recognised Gains Balance Brought Forward Closing Funds at 31-Dec-23 |
2023 £ (4,561) - (4,561) 70,597 66,036 |
2022 £ 7,090 - |
|---|---|---|
| 7,090 | ||
| 63,507 | ||
| 70,597 |
14. TRUSTEES AND OTHER RELATED PARTIES
All employees are connected parties Beverley Veerasawmy is a trustee and received £7,046 during the year (£6,710 2022) and Christopher Veerasawmy, her husband, received £9,722 during the year (£9,259 2022).
No other payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them. (2022 - None)
15. RISK ASSESSMENT
The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
16. RESERVES POLICY
The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily.
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GATEWAY CHURCH DARTFORD LTD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
17. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
This page does not form part of the statutory financial statements
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