Company registration number: 08470208 Charity registration number: 1154307
LIFEGATE OUTREACH CENTRE LTD
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 July 2024
LIFEGATE OUTREACH CENTRE LTD
| OO o_o |
OO o_o |
|---|---|
| Contents | |
| Reference and Administrative Details | 1 |
| Strategic Report | 2 |
| Trustees' Report | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| NotestotheFinancialStatements | 7toll |
a LIFEGATE OUTREACH CENTRE LTD
el Reference and Administrative Details ee Trustees DAVID A. O OLOKE, (Director & Trustee) Oluwatoyin Dare, (Director & Trustee) Comfort Audu, (Trustee) Joel Noumi, (Trustee)
Secretary Lola Olayinka OLOKE, (Director & Trustee) Principal Office 33 THORNBURY ROAD WALSALL WS2 8]J Registered Office 33 THORNBURY ROAD WALSALL WS2 8]J The charity is incorporated in UK. Company Registration Number 08470208 Charity Registration Number 1154307 Independent Examiner Uthman Kay Independent Examiner 225-227 Seven Sisters Road, Finsbury Park London N4 2DA -
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LIFEGATE OUTREACH CENTRE LTD
S SS a SS eeeS Strategic Report for the Year Ended 31 July 2024
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 July 2024, in compliance with s414C of the Companies Act 2006.
Financial review
Policy on reserves
THe trustees ensure the company has three months of funds availlable at all time.
Principal funding sources
The company is a church and a place of worship .The main income is Tithes, donations from members and the public and Gift Aid refund on donations received.
Plans for future periods
Aims and key objectives for future periods
The Charity in the past 11 years has been very successful in executing their objectives - especially as a community impacting organisation. Working with various partners, the charity has been able to secure funding and professional support to carry out their objectives. It is envisaged that more activities aimed at various sectors and sections of the community will be undertaken in the nearest future. -
The strategic report was approved by the trustees of the charity on 19 March 2025 and signed on its behalf by:
fy wtTrusteeNoumi
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LIFEGATE OUTREACH CENTRE LTD
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SS Se eee a SS eS a ES ES See
Trustees' Report
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The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 July 2024.
Objectives and activities
Public benefit
Church pastural and educational activities . The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
The trustees (who are also the directors of LIFEGATE OUTREACH CENTRE LTD for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: q
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e select suitable accounting policies and apply them consistently,
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e observe the methods and principles in the Charities SORP;
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e make judgements and estimates that are reasonable and prudent;
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e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and ~
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e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 19 March 2025 and signed on its behalf by:
loel4.Noumi Lali ; rustee
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LIFEGATE OUTREACH CENTRE LTD aSTa Independent Examiner's Report to the trustees of LIFEGATE OUTREACH CENTRE LTD
I report on the accounts of the charity for the year ended 31 July 2024 which are set out on pages 5 to 11.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Chartered Certified Accoutant. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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e examine the accounts under section 145 of the 2011 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 2011 Act; and
e to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the 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 you as 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:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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¢ to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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e to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
S K Olaoye FCCA Independent Examiner = Chartered Certified Accoutant
225-227 Seven Sisters Road,
Finsbury Park
London N4 2DA
19 March 2025
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LIFEGATE OUTREACH CENTRE LTD
RR Statement of Financial Activities for the Year Ended 31 July 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | 2024 | 2023 | ||
| Note | £ | £ | £ | £ | |
| Income and Endowments | from: | ||||
| Donations and legacies | 3 | 405,105 | 5,048 | 410,153 | 296,244 |
| Charitable activities | 4 | 1,000 | 27,751 | 28,751 | 28,149 |
| Investment income | 5 | 6,421 | - | 6,421 | 1,375. |
| Total Income | 412,526 | 32,799 | 445,325 | 325,768 | |
| Expenditure on: | |||||
| Raising funds | 2 | - | 2 | 1 | |
| Charitable activities | 6 | (202,051) | (42,460) | (244,511) | (198,095) |
| Total Expenditure | (202,049) | (42,460) | (244,509) | (198,094) | |
| Net income/(expenditure) | 210,477 | (9,661) | 200,816 | 127,674 | |
| Transfers between funds | (9,661) | 9,661 | - | a | |
| Net movement in funds | 200,816 | - | 200,816 | 127,674 | |
| Reconciliation offunds | |||||
| Total funds brought forward | 395,381 | - | 395,381 | 267,066 | |
| Totalfundscarriedforward | 11 | 596,197 | z | 596,197 | 394,740 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 11.
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LIFEGATE OUTREACH CENTRE LTD
i EEE El (Registration number: 08470208) Balance Sheet as at 31 July 2024
| Note | 2024 £ |
2023 £ |
|
|---|---|---|---|
| Current assets | |||
| Cash atbankand in hand | 597,996 | 396,035 | |
| Creditors:Amountsfallingdueaftermorethanoneyear | 10 | (1,799) | (1,295) |
| Netassets | 596,197 | 394,740 | |
| Fundsofthecharity: | |||
| Restricted funds | - | 29,419 | |
| Unrestricted incomefunds | |||
| General Funds | 596,197 | 365,321 | |
| Totalfunds | 11 | 596,197 | 394,740 |
| For the financial year ending 31 July 2024 the charitywas entitled to exemption theCompaniesAct2006 relating to small companies. |
from audit under : |
section 477 of |
Directors’ responsibilities:
e The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
e The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on 19 March 2025 and signed on their behalf by: ‘
aeons Trustee
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SSS LIFEGATE OUTREACH CENTRE LTD ss aa, Notes to the Financial Statements for the Year Ended 31 July 2024 Nene eee ee eee ee
1 Charity status
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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.
Basis of preparation
LIFEGATE OUTREACH CENTRE LTD meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement The charity opted to early adopt Bulletin 1 published on’2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income recéivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Gift aid
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
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LIFEGATE OUTREACH CENTRE LTD
enn iinimneiiaiieaimimeentiaammmeemnemmmemmmet Notes to the Financial Statements for the Year Ended 31 July 2024
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
:
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Office Equipment Straight line - 25% Fixtures & Fittings Straight Line - 25%
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’s discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
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LIFEGATE OUTREACH CENTRE LTD
[a Notes to the Financial Statements for the Year Ended 31 July 2024
3 Income from donations and legacies
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| funds | |||||||
| Restricted | Total | Total | |||||
| General | funds | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Donations and legacies; | |||||||
| Donations from individuals | 177,165 | - | 177,165 | 127,643 | |||
| Giftaid reclaimed | 204,419 | - | 204,419 | 141,673 | |||
| Regular giving and capital donations | - | 5,048 | 5,048 | 6,447 | |||
| Other income from donations | and | ||||||
| legacies | 23,521 | - | 23,521 | 20,481 | |||
| 405,105 | 5,048 | 410,153 | 296,244 | ||||
| 4 | Income from charitable activities | ||||||
| Unrestricted | : | ||||||
| funds | |||||||
| Restricted | Total | Total | |||||
| General | funds | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Building Funds | . | 5,803 | 5,803 | 2,905 | |||
| Education - ComnWealth | . | 21,948 | 21,948 | 23,988 | |||
| Other income | 1,000 | - | 1,000 | 1,256 | |||
| 1,000 | 27,751 | 28,751 | 28,149 | ||||
| 5 | Investment income | ||||||
| Unrestricted | |||||||
| funds | |||||||
| Total | Total | ||||||
| General | 2024 | 2023 | |||||
| £ | £ | £ | |||||
| Interest receivable and similar income; | = | ||||||
| Interest receivable on bank | deposits | 6,421 | 6,421 | 1,375 | |||
| 6 | Expenditure on charitable activities | ||||||
| Unrestricted | |||||||
| funds | |||||||
| Restricted | Total | Total | |||||
| General | funds | 2024 | 2023 | ||||
| Note | £ | £ | £ | £ | |||
| Staff costs | - | 14,414 | 14,414 | - | |||
| Buildingrepairs | - | 27,746 | 27,746 | 16,854 |
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LIFEGATE OUTREACH CENTRE LTD
REern en SSS Notes to the Financial Statements for the Year Ended 31 July 2024
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | |||||
| General | Restricted funds |
Total 2024 |
Total 2023 |
||
| Note | £ | £ | £ | £ | |
| Trade and professional | |||||
| journals | 2,277 | - | 2,277 | 4,525 | |
| Wages and salaries | 92,691 | > | 92,691 | 56,038 | |
| Staff NIC (Employers) | 7,824 | : | 7,824 | 5,101 | |
| Staff pensions (Defined | |||||
| contribution) - pension | |||||
| scheme 1 | 1,434 | - | 1,434 | - | |
| Casual wages | - | 300 | 300 | = | |
| Casual wages | - | - | - | 28,808 | |
| Staff welfare | 25,480 | - | 25,480 | 18,144 | |
| Volunteer expenses | 5,000 | - | 5,000 | 7,470 | |
| Rent and rates | 33,668 | - | 33,668 | 32,902 | |
| Water rates | 1,550 | - | 1,550 | 1,359 | |
| Light, heat and power | 8,712 | - | 8,712 | 6,188 | |
| Insurance | 1,994 | - | 1,994 | 1,765 | |
| Equipment repairs and | |||||
| renewals | 16,809 | - | 16,809 | 11,502 | |
| Computer software and | |||||
| maintenance costs | 1,087 | 7 | 1,087 | 5,737 | |
| Printing, postage and | |||||
| stationery | - | - | - | (43) | |
| Sundry expenses | 325 | - | 325 | = | |
| Independent examiner's | |||||
| fee | 574 | 5 | 574 | 450 | |
| Allocated support costs | 1,426 | = | 1,426 | 1,295 | |
| 200,851 | 42,460 | 243,311 | ___—198,095 | ||
| Total | |||||
| 2024 | |||||
| £ |
In addition to the expenditure analysed above, there are also governance costs of £1,295 (2023 - £1,295) which relate directly to charitable activities. See note for further details.
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
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Se eeeeEE—E—E—Eeee
eS LIFEGATE OUTREACH CENTRE LTD
_————ss___ Ee Notes to the Financial Statements for the Year Ended 31 July 2024
No employee received emoluments of more than £60,000 during the year.
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Creditors: amounts falling due after one year
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals | 1,799 | 1,295 | |||
| 11 Funds | |||||
| Balance at | Balance at | ||||
| 1August 2023 £ |
Incoming resources £ |
Resources expended £ |
Transfers £ . |
31July 2024 £ |
|
| Unrestricted funds | |||||
| General | (395,381) | (412,526) | 202,049 | 9,661 | (596,197) |
| Restrictedfunds | B | (32,799) | 42,460 | (9,661) | a |
| Totalfunds | (395,381) | (445,325) | 244,509 | : | (596,197) |
Accruals
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