Charity number: 1183430 GATEWAY LIFE TRUST (A Charitable Incorporated Organlsation) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
GATEWAY LIFE TRUST (A Charltabl• Incorporated Organigatjonl CONTENTS Paga R9ference •nd Adminl¥tratlve D•talls ol th• Ch•rlt•blg Incorporated Organlsatlon. Ils Trusteos •nd Advlsern Trustees, Report Independent Examin•rfs Report Statement of Financlal A¢tivities 8alance Sh••t Notss to th• Flnanci41 Statements
GATEWAY UFE TRUST IA Charitabl• Incorporatgd Oryani8•tlonl REFERENCE AND AOMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES ANDADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Truttes S Baynham, Chair D Grant, Secretary V McDonald L Batlour Charlty regl$tered number 1183430 Prlnclpal ollk• 11 France5 RoJ Basingsloke Hampshire RG21 3DB Ind•yndent Examiner Wtse & Co Chartered Accounlanls & Slalutory Audrtors Wey Court W•81 Union Road Famham Surrey GU9 7PT 8ankws The CoQperalive Bank PIC P.0 Box 250 Delf House Southway SkelmeTsdale WN86 Page 1
GATEWAY LIFE TRUST {A Charitabl• Incorporat•d Oryanlsationl TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 Th8 Trustes of Gateway Lrfe Trust haN the ploasure of presenting their annual report for the year ended 31st March 2022. Gateway Life Trust 15 con$lilthed a• o Chantsble Incorporated Organisation using the 'Foundalion" model dated 28th January 2019 and 18 a gIStered charity no. 1183430. There were no chaThJes of Truste8$ during the financial yw. In selecting individuals for appointrnent a8 Trust5, the current Trustees musl have regafd to the 8kill8, knowledge and experience needed for the effective ath1nistratn of the charity. Gateway Lrfe Trust Continues lo function.. To advane£ the Chrislian religion lor lh8 berth of the public in accordance with the beliefs set out tr Christian Scriplufes and to proclaim and further Ihe Gospel of God and Hi$ Son the Ltyd Jesus Christ and to pre&h and le&h the Christian faith. For the prevention or rnlief of povety in Basingsloke and in such rtS of Unrted Kingdun and the wodd as the Trustees may frfxn time to time thir fil by providing" grants. rtems and services to indiwduals in anthr ¢haTiiies, or othw ganisatIonS wkIng to prevent or poNtty. To advance the eduCatn of the publk in the suty'e¢t of Christian faith. To furthér •LKh other Charitab a• the Trpjstees from t¥ne to thne in thew sOlUte discrelion detemine. The Trustees have red the Charity Comm%sKJn's general guidance on public bert Y•tsn making and ewing the Trust'$ aiff* and oty'ectives and planning frJture activrties. vltles Church family meeting5 on Sunday Life group meelings mid-week Mid-week meeling Y¢wng People Alpha courses 'Home for Good, Adopting arKI Fostering Pastoral tsre of members and faMilS CAP t)ebt Centre Church Planling Commis$ion events Page 2
GATEWAY UFE TRUST IA Charitable Incorporated organi100nl TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Achiev Sunday meeting have started back in pernon orKI continue I11 during the yw •wJ • large wcyortion the church family nlx attend in pgrson. The Churth has also continued to run lrfe group In person aTrJ onlM. The Alpha courne ran online for those exploring the Christian fath The church ran a 'e for gwd, course lo erKourage and famil$ considering adoFlin9 KJ fostering. A Welbeing cl befrienders ha8 been estsblished to gN• extra care and support across the church family A CAP debt services centre ha8 continued to run dtjring tho year and helped a number of dnIs. Altsng5ide that th• relief fund ha5 been utiloed to h an ever w[eaSIN number of families in need of financial supwt. The church continues to support Emma Eden. Emma retumed lo the UK to vKvk lor a christs.an charty working with trafficked women The Trinity lrfe church plant continues lo grryw. The Church is part ol the Commission sphere cl churches and regyiady t0 part in and conlribLrtes toWaS the of other Commission thurches and initsatives The Leadership team attends and contributes towards CommBsion leaders. equipping events on Church Planting Evangelism and Adminislralion Flnancial R Total incomg for th• year was £307,252 and the charty has expended £263.946 cn its aCt1vrt. This includes further donation8 receivod and expendrture made from The Gateway Church Tru Ccw Barh after the 11th June 2020 as an agent ol Gateway Lrfe Trust CIO. The total unrestricted cuTt r95•Th8s were £152,118 al the er. Tr reserv policy is currenlty calculal8d as thr•0 months of committed exndItuTe. the majority of which is staff wages and currently is far exceeded ty the current levels of Teserves. These addItnal rasorvos 0 expected to be used in the next financial year lo enlo the r0¥atyan ol the nffw building. The new building was purchasad at a cost £247,CO) plu$ bagal lees and the restricted lund had a cash balance of £152,928 still availab ft>r refurbishment at the •nd. It is expected that the entire fund will be used in full during the naxt financial year. Thg HoFe Church plant expended more than it8 income during the year and18ft a fvr#J deficrt of £2.922. aft slopping meetings in Andover in September 2021 A transfer from general funds was mado for the defKrt. Trinrty Lrfe Church plant had a re51Tiet& fuThJ balance of £24 428 A Relf Fund has boen put in place in anlicipalion of the expected finan¢ial hardship caused by the Covid-19 national lockdown and its resulting effects. The fund balanee for the financial yoar end £13,222. The CAP grant for emphJyee costs of £6.200 was fulty utiltsed during the year ard a furthef £227 01 'W' luTrJ was also used. Grft days ware taken for o G(ovrth Fund to slfenglhen the minislrrd8 of the church. £28,370 was receNed in Mah 2022. The maln Source of funds for the Trust is through 11$ chUh members gNing and the ft •d recLairT*d, large proports'on of whKh is by ular bank transfer Dunffj the year the Tnjstees authorised Ihe nomtsl payThenl of expenses and expenditure. Page 3
GATEWAY LIFE TRUST IA Charltable Incorporated Organls•tlonl TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 re Pla The Chureh plans to ehan9e its nwne to Mowc Church and the Chanty name Gateway Lif• Trust CIO will be changed ler in the year. The Iruslees have idenliffied the current excw reser ld and the e$tab1hed reliql lund to h those who may expenonce financial haidship durw)g eoming months and are continuing lo revEw th8 net incomellDSS of the chanty closely eh month and will respond to any adverse changes accordingly The planned refurbishment of a fomier clfice building is continuing. Rl k Mana The Iruslees regulaty meet and conduct review3 of t Trust's Lyeralion5 to idenlfy areas of rlgk initi planning lo mitigate Ihe8e nsks. Trustees recoivo monthly managemenl reports the financial perfomance of the chanty atrx wilh an annual budget. They a3ses$ the affoTdability of any nw4 inilialives their merits as they ctcur. All of the o¢tivrties of the charity are continuing and the accounts have been produced on a goirvJ concwn bA$iS. Approved by ord•r of th8 members of th• board of TNslees and Signed on their behaff by.. S Baynharn (Chair of Trustees) 30th January 2023 Paoa 4
GATEWAY LIFE TRUST IA Charitablè Incorporated Oryanisationl INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022 Indèpendènt Examlner's Report to the Trusleu of Gateway Lffe Tru•t1lh• Charltsble Incorporated Organlsation'} We report to the charity Trusloe$ on our examinatKJn ol thg accounts of the Chantable Incorporated Organisalion for the year ended 31 March 2022. Responslblliti05 and Basls of Rèport As the Trustees of tho Charilablo Incorporated OrganisalK)n you are responsible for the preparation of the accounts in accordance with t requirements of tho Chanties Act 2011 Ilhe 2011 Ad'l. We report in resp1 of our examinalion rflhe Chanlable Incorporated Organisation's accounts carrj out und•r section 145 of the 2011 Act and in Carrying out our examination have followed the applKable Direcbons gIn by the Charity Commission undgr 5e¢tM)n 14515llbl of the 2011 Act. Independent Examlnerfs Statem•nt &nce Ihe Chantable Incorporated Organision's m income •xc8eded £250,CQO your examiner musl be member of a boJy listod in section 145 of the 2011 Act. We confirm that we ara qualbfied lo undertake the examination because we are a member of ICAEW, which is one of the listed bodies. Y1 atlen11 is drawn lo the f mal the Charilable Incoryrated Organisation has prepaffjd the aecounts i) accordan with Accounting and Reporting by Charrties" Staternenl of Recommended Practice applicable to charities preparing their accounts in accordance ts1h the Financial Reporting Standard applicable in the UK and Republic of If8land IFRS 1021 in preference lo the Accounting and Reporting by Charities. Statement of Reeomwr£nded Practice issued on 1 April 2CQS whh is refefred to in the extanl regulatKJn$ but h• bwn Ihdrawn. We und8r3land Ihal thi$ has been done in order for the accounts lo provide a true and fair in accordance with the Generally Accepted Aecounling Practu effedive reporting periods beginning or after 1 January 2015 We have completed our examinatK)n We confimi thal no matters have COTrn to our attenlK)n in connection the examination giviry us Cause lo beIve that in any malenal respect". aecounling records were nc kept in respect of the Chantle IncO)rated Organisation as required by section 130 of the 2011 Acl.. or the accounts do not accord wth th08e reccds.' the ac¢ounls do not comply with the applicab18 r8quirem8n15 Concerning the fomi and content cl accounts set Lxrt in the Charities (Aecounls and Reports) Regulations 2C()8 other Ihan any requirement that the accounts give a Irue and f is not a matter cons¥Jered as part of an independenl examination. Pa9e 5
GATEWAY LIFE TRUST {A Charilable Incorporated Oryanlsatlonl INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 We have no concerns and have come across no other matters in connection wlth the examination lo which attention should be drawn in this report in order lo enable a proper understsndin9 01 the accounts to be reached. Swned.. Mark DkIrI50n FCA Wlso & Co Chartered Accountanls & StatLrtory Audiltsrs Wey Court West Union Road Farnham Sufrey GU9 7PT Page 6
GATEWAY UFE TRUST (A Charltsble Incorporatfjd Ory4nisationl STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Restrlct•d Unmtricled funds funds 2022 2022 Tol•l funds 2022 Not• Income from: Donations and legaeies Othw inc(xne 78.037 229,215 307,252 208,822 282,556 Totsl Income 78,037 229.215 307.252 491,378 Expenditure on.. Charitable activities 46,826 217,120 263,946 76Q,3 Totsl owndlture 46,826 217.120 263,946 160.3 N•t inctxn• Transfers betsyeen fvnd6 31.211 2.922 12.095 12,9221 43,306 330,988 13 Net mov8m•nt In fund8 34,133 9.173 43,306 3,988 Reconclllation ol funds: TL*al funds brought loard Net movement in fvnds 188.IM3 34.133 142.945 9,173 330,988 43,306 330,988 Total lunds carrled forward 222,176 152.118 374,294 330.988 The Statement of Financ1 Adbvilies indth all gain8 and k)5ses reeognised in the Jear. The notss cffi page5 9 10 22 fc¥m part of these financial statements. Pa9e 7
GATEWAY LIFE TRUST IA Charllabl• Incorpornted Organisatlon) BALANCE SHEET A8 AT 31 MARCH 2022 2022 Not• Tangible asMt8 261.731 6,403 251,731 Current •M•ts 10 91,897 241.383 63.525 267,502 Cash at bank arKI in hand 333.280 331,027 Creditors.. amounts fallirg due within one 11 110.7171 {6,442J Nel currnnt •s•ats 322.563 324,585 Creditors.. amounts falling due after rmre than one year 12 1200,0001 •ts •xcluding penslon amat 374.294 339.988 Total n•t ••Mts 374,294 330.988 Charlty funds Restrict funds unrestn.cted funds 13 13 222,176 152,118 188.043 142.945 Totsl funds 374,294 330,988 The financial statements were approved and aulhoris&J issue ty the Trustees and signed thr baham by.. 8 Baynham Ichair of Tru5te¢$l 301h January 2023 notes on Pog 9 to 22 form part of these financi81 slalemenls. PwJe 8
GATEWAY UFE TRUST IA Charitable Incorporated Organlsation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 General Information Galevrdy Life Trust i8 a th8ritsble ineorporatJ organisalion Icharty numbar.. 1183430). Accountlng pollcles 2.1 Bas ol preparatlon of Ilnancial statements The financial statements have been prepared in accordance wrth the Charities SORP IFRS 102) - Accounting and Reporting by Charities" Statement of Recommended Practice applicable to ¢harrt preparing their account$ in accordance wrth the Financial Reporting Standard applicable in the UK and Republ of Ireland IFRS 1021 leffeth've 1 January 20191, the Financial Reporting Stsndard applbcabk In the UK and Republ of lrnLand IFRS 102} and the Chanlies Act 2011. The financial statements have been prepared lo give a 'lrue and lairf vi8w and have departed from the CharitS (Accounts and Reports) Regulations 2008 onty lo the èxtont required to Provide a Ir and fairf ¥w_ This departure ha$ invofvwj following the Charities SORP IFRS 1021 published ir) October 2019 rather than the Accounting aThJ Reporting by Charities. Statement of Re¢ommendad Praclice effective frcn 1 April 2¢XIS which has Sin been withdrawn Geway Lrf• Trust meets the defInitn of & public benefit •ntty und•r FRS 102. A88ets and lth'liti8S are inrtially recognised al historical cost ty transaction value un3 otherwise ststed in the relan1 accounliro POIy. 2.2 Income All income is re¢ognisod the Charitable Incorporated Organisalion has enlrtlement to the income. rt is Prable that the rKomo 11 eO the amount of inc(Th can b• measured reliabty. Donations. Legacies and Similar Resources.. li) Colleelions and Donatsons are included in the finarKial statements wh•n received by or on behaff of the church. lil) PLanned giving eryable under cvrfenant 18 induded w) the financknql ¥lalements onty wh recetved by the chureh. (iu) Income lax recoverable on covenanted and grft ahl donations are a¢¢w¢d to matt aach year and claimed every four months. Ilvl Legacy income is accounted for when receivabk. Iv) Grnnl income 1$ accounted for vtsn receivable Inc(Mne fr(Mn investments, including inter8st received, bs accounted for ¥th•n d. Grants are includ8d in the Slalement of Financial Activities on a receivable basis. The balance of income received for specifK purposes bul not expended during the period is shown in the relevant funds on the Balance Sheet. Where ineome 6 received in advance ol entrtlemenl of receipt. rts Tec(>Jnrtion 1$ deferred and included in eredrtors as deferred income. Where entstlemonl (T$ before In¢e ts received. the income is accnjed. Olher income 15 renised In the period in it 1$ receivable and lo the extent th• gLés have been provided IN on Completic of the servv. Pap9
GATEYIAY LIFE TRUST IA Charltabl8 Incorporal•d Organlsatlonl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollclgs {contlnu•d} 2.3 Expendlturo Expendrture is recognt5ed tjnce thwe 18 a legal or con8truclNe obligation to trwsfer economK ben8fft 10 a third party, il is probable that a transfer of economic benefits will be required in Settlement and tha amount of the obligation can be measured reliably. Expendiluie is classified by activity. The cost• of each actwity are made up of the total of direct costs and shared costs. Including 5UPPOrt costs involved in undertaking eath activity. Direct costs attnbutable to a single aelivily are allocated dity to that actwity. Shared Costs vthich contribute to more than one actwrty and support costs whth ar• not attnbulable lo a single activity are apportioned be¢en those aclivrties on a basis consistent bmth the use of resourees. Centr81 staff costs are allocated on Ihe bas of tme spent. and depreciatson charges allated on the porlion of the awt's use. Expenditure on eharFiable actiyrties is incurred on direclty undertaking the activrtles vthich further tho Charitable Incorporated Organisalion's objectives, a8 well as any associated support CO818. All expenditure is indusNe ol Irrecoverable VAT. 2.4 Tangible fix•d u•ots •nd depreciatlon Tangible fixed a8sel$ cosling £NIL or more are eaprtalised and recognised vthen future eCcniC benefits are Probable and cost ¢y valw of the asset can be measufed reliably Tangible fixed 888et$ are initialty reeogni8ed at cost. After recognition, under the cost mcrtlel, lan9ible fixed assets are measured al cost less accumulated depreciation and any accumulated 1mpairmenl bsses. All costs irKurred lo bring a tangible fixed asset Into ts intended working condition Kwkl included in the mgasurement of Cost. Depreciation is charged $0 a8 to 8llcc8le the ¢08t of tangible fLxed assets less their residual value over Ihwr eslirnaled usefijl lives, using the slraighl-line rnelh¢>J DepreuatK¥n is provided on Ihe l01lcMing basi$.' Long-lerm leasehold property Motor vehicles Fixtures and fittings Computer equipment 25% 25% 25% 2.5 Debtor• Tradè and other debtors are reco9nised al the settlement amount after any lrnde dIseCnt offewj. Prepayment5 are Valued at the amount prepaid rt of any trade discounts due. 2.6 Cah at bank and In hand Cash at bank and in hand includes eash and $hort4erm hyhly Ip]uMI investments with a strKJrt maturity of three m(Mrths or bels frr#n the d of aurtn or opening ol the deposti Lw 5wnilar a¢eount. 10
GATEWAY LIFE TRUST (A Charitable Incorporated Organlsatlon NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting pollcles Iconllnuedl 2.7 Llablltti•s and provlsions Liabiif(ies aTO recognised when Ihwe li an obligatn at th• Balanco Sheet date a8 a resurt of a pa81 event. il is probable that a transfer of econc¥nic benofil will b• required in settlement. and the a7wnt of the SettMent can be estrmaled relratAy Liabilities are recognised at the amcunl that Ihe Charitable Incorporated Organisalion an11pateS it 11 pay to settle the detl or the amount rt has received as advanced payrnenls for the goods or services rt mu81 provKIe. Provisions ar8 measured ai the best estimate of the 0nIg reqUId lo settle the obligalton. Vlhore the effeet of the lime value of money 18 material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate thal refiect¥ t1 risks specrfic lo the Iiabilty. The unwinding of t discounl is recogni¥ed in the Slalement ol Ftnancial Activibes as o finance cosl. 2.8 Financial Snstruments The Charrtable Incorporaled Organisalion cmly has financial a$$8ts and financial liabilrties of a klnd that qualify as basic financial instruments. Basie financial Instruments are inilbally recognised at transaction value and subsequently measured al their settlemertl value with the exception of bank loans which are subsequently measured al arkKlrtised cost using the effective Inleresl method. 2.9 Pgnslons Tho Charrtabl& Ineorporaled Organisalion operates a defined contribution pension scheme and the pension charge preSentS the amounts payable by the Charitable InCorpoted OrganisalK)n to the lund in respect of thg year. 2.10 Fund accounting General funds are unrestrthd funth we aYaile for u80 al diseretion of the Trustees in furtherance of the general objectives of th• Charitable Inwraled Organisation arwj whKh have not been designaled lot oth•r purposes. ReslNcled funds are funds which are to b• used in accordance with specific reslridions imposed by donofs or which have been raised by the Charitable Incorporated Organisalion for particular puses. The costs of raising and administerin9 sueh lund8 are charged against the specrfic fund. wm arKI us• of regtrieted fuThl rt 8el wt the 1•3 lo tl financial stslements. Page 11
GATEWAY LIFE TRUST (A Charltable Incorporatsd Orgjnisatlonl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Incorne from donatlon8 and legacle Restrlcted Unrostricted funds funds 2022 2022 Total fvnd¥ 2022 2021 Donations Regular donalions 37,559 12,043 3.735 24,700 189.103 23,984 15,928 200 226,662 36,027 19,863 24,900 37,698 19.974 Collections and other donations Grants Totsl 2022 78,037 229,215 307.252 208,822 Tcrfal 2021 38.230 170,592 208,822 Page 12
GATEWAY LIFE TRUST IA Charltable Incorporatsd Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Oth•r Inct)mlng resou03 Regtri¢t•d Unrestrfcted lund8 funds 2022 2022 Total funds 2022 funds 2021 Funds transferred fr(ffi Gateway Church Basingstthke 282,556 To1812021 198, 105 84.451 282,556 In th• year Gateway chu Basingsloke transferred rt adivrties to this entty. On this date it Irdnslerred its a9aets and I511 as a grfl to thi$ entty. Dotalj of this transfer can be So in the tabl belthv. Tangle fixod assets Cash at bank and in hand Other Current assesls Current Liabilities 251,918 27,20S 1SA011 282.556 An•lysl¥ of expendlture by activities Arfivftles undertaken dlrectly 2022 Support ¢osis 2022 Tot•1 funds 2022 funds 2021 Chafrtable activrties 167,992 95.954 263,946 160,390 Tdal 2021 IOT.035 53,355 160,390 P4• 13
GATEWAY UFE TRUST IA Charitable Ineorporat•d Oryantsailon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of gxponditure by •ctlvltie5 Icontlnuedl An41ygls of dlr•ct cogts Total funds 2022 Actlvltl 2022 Staff costs Children Chureh Life 154,723 1,176 2.017 6.948 250 1,424 1,454 164.723 1.176 2,017 94,293 951 582 8,346 314 1, 731 818 Evangelism and MIs8ion & Speakers gifts CAP Wotship 250 167,992 167,992 107,035 Tot 2021 107,035 107,035 Page 14
GATEWAY UFE TRUST IA Chariiable Incorporated Or9anls•tlonl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Analysis of exp•nditure by actlvlti8s Icontlnuedl Analysls ol support cost• Total funds 2022 Total Actlvlties 2022 Staff co815 Evangelism arKI Mission & poor Webisle & church 8ofNvare Bank fees DepreCiatn Health & Safety Printing, Postage and Stationary IT Software and Consumables Rent Travel costs 288 268 859 80 3.625 502 859 80 3,625 502 868 4.785 27,627 1,217 3,171 3.068 18 3. 732 6LXI 1, 851 1.891 514 576 140 4,765 27,627 1.217 3.171 40 Hospitalty Subscriptions Telephone & Intemel Marketing & Advertising Non-siaff Developmenl Insurance ¢0sts Staff Training Refurbishment cost$ 270 6,189 375 2,295 6.058 7,267 29,902 270 6,189 375 2,295 6,OS8 7,267 29,902 156 478 751 3,1 Governance cos18 36,4 Loan inloresl 95.9S4 95.9S4 Total 2021 53.355 53,355 Page 15
GATEWAY UFE TRUST (A Charltsble Incorporated Organlsatlon} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Independgnt examlnei's remuneration 2022 2021 Fees Payab to tha Charit*) Incorporated Organtsa1's independent examiner for the Independent examination of the Chantabfe Ineorpryated organtKIn,¥ annual accounts 1.800 Staff ¢0gts 2022 Wages aTrJ salam8 Social security cost¥ Ponsion $ts 141.054 8,405 5,632 86,167 &166 154,991 94.293 The averdge number of persons employ&Y by the Charrtable Ino)rporaled Organisalion during the year was as follcy•VS' 2022 No emploype received remunerats.on amounting to than £60,0(XJ in fjith8r year. Trust•e8' remun•ratlon and expens During the no Trustees received any wungratwjn or other beneffts 12021- £NILJ. During the sear 31 March 2022, no Trugtee expenses have been Incurred12021- £NILI. P•3e 16
GATEWAY LIFE TRUST IA Charltablo Incorporated Ofganlsatlonl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Tangible fix•d asmts Long4erm leasehold property Molor Flxtures and vehicles flttlngs Computer equlpment Tot•1 Cost or valuation Al 1 Apnl 2021 AddrtKins 506 9.291 1,953 10.135 248,95J 247.IKXI At 31 Marth 2022 247,000 $06 11,244 259.088 D¢preclatlon At 1 April 2021 Charge for the Itar 125 150 3.247 3,329 3.732 3,625 146 At 31 March 2022 275 6.576 7.357 Nel I value At 31 Mwch 222 247.000 4,068 251.731 At 31 March 2021 213 146 6,044 6.403 10. Dgbtors 2022 2021 Du• wSthln one year Trade debtors Oihw detlors PrePaan1$ and accrued income 43,397 48.050 7,371 30.632 25,522 91,897 63,525 After the transfer cl actr¥rties from Gateway Church 8asingsloke IGCBI. GCB has been acting fc Galewwy Life Tntst IGLT). As at the sar end GCB £48,OSO to GLT12021- £30.6321 Pap17
GATEWAY UFE TRUST (A Charitsblo In¢oryK>rnted Organisatlonl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11. Crèdltots- Arnounts falling du• withln on• y•ar 2022 2021 Tfade creditor8 Other taxation arHI social securty Other credrttsr¥ Accfuals and d8ferred irKome 2,315 3,760 2.376 631 3,112 10.717 6.442 12. Cr•dltor8: Amounts falling du• after mor• than on• y•ar 2022 2021 Other an$ 200.000 Indudth4 V4ilhin lh• abo arn amounts falling as folkyws.. 2022 2021 Between one and two ygar4 Other ID 100,000 O¥•r flve yearn Other bans 100.000 The loan has been provided lo the charty ty a member of the Church £100,000 has been loaned interest free and is repayable by 30 April 2028. A further £100.000 was loaned during the year at variable int¢rest rate of 4.49'/0 plus base ral8 and 18 repayable by 30 Apnl 2023. Page 18
GATEWAY LIFE TRUST (A Charlt•ble Incorporated Oryanlsat5onl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. Ststement of funds ststem•nl of fuDds - current y•ar Bal•nc• •t 1 Aprll 2021 Transfvrs inlout 31 March 2022 Ineomo Expendlture Unrestrlcted lunds Reserves 142,945 229.215 (217.1201 12,9221 152.118 Restrleted lund• Hope Church Building Fund Cinnamon CAP Fund Trinity Lifv Relief Fund M68 & 22 fund Grovrth fvnd 3.123 12,1)(10 6.60D 25,928 2,016 16.0451 124.2761 17,4511 16,5061 12,5481 1922 165.204 676 1S2.928 176 24,428 13.222 3.228 28.370 13,764 1176) 28.370 188,IM3 78,037 (46,8261 2,922 222,176 Total of lund• 330,988 307.252 1263,9461 374,294 Page 19
GATEWAY UFE TRUST (A Charlt*bl• Incorporated Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 13. Statsrnont of fund• Icontinugdl ststement of fvnd•- prlor y•ar Balance at 31 March 2021 Transfers in/oul Income ExpendAtu Unrestrlcted fu•KI# General FuThJs 255.043 (111.362) (736) 142.945 Restrlct•d funds Hope Church Building Fund Cinnwnon Q4P FurKI Trinity Life Relief Fund Specified GNing M68 & 22 fuixj 15.967 195,554 775 5,375 14,810 450 (16, 703) (30.350) (1) (369) (7,056) (4) 736 6T5 13, 754 3.404 236,335 (49,028) 736 188,043 Totsl ol fvnds 49t,378 f160.3W) 330,988 Page 20
GATEWAY LIFE TRUST IA Ch¥rit•bte Incorporated Organisatlonl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. Summary ol funds Summary of funds- current y••r Balance at 31 M•rch 2022 Balance •t 1 Aprll 2021 TransferJ inlout Inwme E¥pendltu General funds R8slfithe(I fund8 142,945 188,1)43 229.21 S 78,037 1217.1201 (46.8261 12.9221 2,922 152.118 222.178 330.988 307,252 1263,9461 374,294 Summary ol fund• - prlor y••r Balae at 31 Mah 2021 Transfer5 in/oul Income Expendilu General funds Restncted fvThd• 255.043 236,335 1111,362) (49,028) (736) 736 142.945 18&043 491,378 (160,390) 330,988 1& An•tysl$ of nel M••ts betw•en fund• Analysls of net a•••ts betwegn funds- curr•nt yo•r Re5trlcted Unrtricted lunds funds 2022 2022 Total funds 2022 Tangible fixed a888ts Current assets Credrtors vAlhin Cfedrtor5 due in m(we than one yeor 251.731 111.104 110,7171 1200,0001 261.731 333.280 110,717) 1200,OIXII 222.176 T¢)t•l 222,176 152.118 374,294 Page 21
GATEWAY LIFE TRUST (A Charitsble Incorporated Organlsationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15. Anatysh of n•t usets between funds Icontinuedl Analysis of not •s••ts between fvnds- prlor yr Restricted Unrestricted funds Total 2021 Tangiblo fixed asse1$ Current a58éts Cr•Jilor5 due within one year 6,403 142.984 (6.442) 188,043 331,027 (6,442) Total 188,043 142.915 330,988 16. Penslon commitments The Charity operates a defined contribution pension scheme. Th8 assets of the scheme are hekl separately from those of the Charity in an independently administered lund. The pen510n cost charge of £5.53212021- £2.%01 represerts ConlitsuliS payable by tho Charity lo lund aThl a¥ at the year and £1,530 was payats to thg furnl i• Included in credilof812021- £6311. Page 22
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