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2024-03-31-accounts

GATEWAY STUDIO CIO

ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024

Charity number 1186728

GATEWAY STUDIO CIO

Trustees’ Report For the Year Ended 31 March 2024

The Trustees of Gateway Studio CIO are pleased to present their annual report together with the financial statements of the Charity for the year ended 31 March 2024.

These financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATION DETAILS

Registered Charity Number: 1186728

Registered Office: Trinity Centre, High Street, Gateshead, NE8 1EP

Governing Documents

Gateway Studio CIO was established as a Charitable Incorporated Organisation (CIO) on 4 December 2019, replacing and taking forward the activities of Gateway Studio Community Interest Company. As a CIO it is governed by its constitution and Articles of Association.

Structure and Governance / Board of Trustees

At 31 March 2024 the charity had a board of ten non-executive Trustees.

The Trustees of Gateway Studio CIO during the period and to the date of signing this report were as follows:

Mr Jeffrey Martin Dean (Chair)

Ms Sarah Louise Hogarth

Ms Rebecca Jane Miller

Mr Peter Huggins MBE

Ms Eleanor Farrington

Mr Kema Sikazwe

Mr Edward Lynch MBE

Mr Stephen Derrick

Ms Karen Ann Cruise

Ms Akosua Boakye

Additional Trustee: Mrs Megan Nichols, joined the Board at its meeting on 23 May 2024 Independent Examiner: Jim Dodds, 33 The Glebe, Morpeth. NE61 6HW

GATEWAY STUDIO CIO

Trustees’ Report For the Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Board Meetings

The main board met quarterly during 2023-24. An agenda and written board reports are prepared and circulated in advance of each meeting and minutes taken. Meetings are a hybrid of in-person and virtual (Zoom/Teams) meetings with further contact or correspondence with Trustees as appropriate between meetings.

The board had two sub-committees, one to examine Employment and Finance matters and make recommendations to the Board, and the other to oversee the Trinity Centre capital development project.

Recruitment and Appointment of Board of Trustees

In selecting individuals for appointment, the Trustees aim to ensure that the Board has the skills, knowledge and experience needed for the effective administration of the charity and is as diverse as possible.

Trustee Induction and Training

Trustees are provided with a range of resources to support their understanding of Gateway Studio’s activities and outlining Trustee duties and responsibilities. Specific training and workshops are delivered using external consultants or specialists as appropriate.

Management

Day-to-day operation of the charity is delegated to the Chief Executive Officer and Artistic Director, Martin Hylton, and to the Assistant Director and Head of Education and Community, Debbie Hylton.

CHARITABLE PURPOSE, AIMS & OBJECTIVES

Gateway Studio CIO’s charitable objectives are to advance the education of the public in the arts, in particular the art of dance, by the provision of accessible dance education and teaching and ancillary activities, and the presentation of public performances and other similar activities.

The wider charitable objects are to:

  1. Further or benefit the residents, without distinction, of Gateshead and the surrounding neighbourhood, by providing facilities for and associating together with the said residents and local authorities, voluntary and other organisations, in a common effort to advance education;

  2. Provide facilities in the interests of social welfare, including physical and mental well-being and special needs, and for recreation and leisure time occupation with the objective of improving the conditions of life for residents;

  3. Preserve, maintain and enhance the Trinity Centre (the Property), its environs and contents for the benefit of the local community and nation at large, and to advance the education of the public regarding the historical, architectural and natural heritage of the Property of the Chapel of St Edmund, adjoining the Property, being buildings of particular historical and architectural interest;

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Trustees’ Report For the Year Ended 31 March 2024

PUBLIC BENEFIT

The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which requires all charities to be able to demonstrate that they are established for public benefit and have had due regard to the public benefit guidance issued by the Charity Commission.

Gateway Studio aims to bring professional dance education and practice to Gateshead and its hinterland and provide a centre of arts, heritage and community. It seeks particularly to work with disadvantaged and minority groups in Gateshead’s diverse communities but does not limit its creative, educational, and community activities to these groups.

The Trustees believe that the charity therefore meets both the key principles.

– Principle 1 There must be an identifiable benefit, or benefits

Our benefit to the public is that the charity provides community dance classes that support and encourage the development of children, young people and adults, and makes space available for community groups to meet. A heritage programme is being devised to allow the public to visit and learn about the history of the site and will be integral to Gateway’s work when the capital project to redevelop the Trinity building is complete.

– Principle 2 Benefit must be to the public, or a section of the public

Opportunities afforded by the charity for the development of associated artists and professional dancers through performance and support represent a specific benefit, although each element of our work is able to provide benefit to the public in general. Gateway will devise means of working with diverse communities to help them express and share their culture identity whilst becoming part of Gateshead’s cultural fabric.

ACHIEVEMENTS AND PERFORMANCE: CHAIR’S SUMMARY

Chair’s Summary of the Charity’s Main Achievements During the Year

Gateway Studio CIO continued in the last year to develop its work with schools, diverse communities, partners, and other artists.

The external environment remained challenging, with the national and regional economy verging on recession, public sector spending cuts and high inflation. However, Gateway’s relationships with ACE and other funders and with the local authority have been positive. We remain cautiously confident and optimistic of Gateway’s ability to deliver both our day-to-day operations and our ambitions for restoring, re-purposing and re-invigorating the Trinity Centre, despite frustration over delays in funding and other decisions beyond Gateway’s control.

We are a valued consultee for Gateshead Council on its broader arts-led town centre and High Street redevelopment plans, and Gateway’s vision of an ‘arts village’ is gaining traction. We have brought back to life one storey of a long-vacant former Burton’s retail store ‘Over the Road’ for use as our temporary decant space during the Trinity redevelopment, and it is already becoming wellestablished. In the future, Trustees may be asked to consider whether we should seek to retain this building for multi-arts use once the Trinity project is complete and seek to open up its other two

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Trustees’ Report For the Year Ended 31 March 2024

floors. A local architectural partnership, Topo, produced an initial pro bono design for us, which received acclaim from the local authority.

We again acknowledge that the diversity of Gateway Studio CIO’s board has been one of its strengths. Its 50% male and 50% female split of Trustees, with the same ratio of people with black and white ethnicity, has been maintained throughout the year. The small management and staff team also reflected that diversity.

Gateway has always recognised that Trustees may not have the capacity or ability to attend every meeting or event either in person or by Zoom/Teams, but values their input in whatever way it is given. All meetings have been quorate. All Trustees are eligible and welcome to attend non-board meetings and, for example, contribute to funding applications, and to act as mentors or advisers and guides to staff and one another on an individual basis.

Extended timescales and funding delays on the capital project have meant that Trustees were not required to be engaged in the process as had been anticipated. Further support may still be needed to support Board sub-committees or meetings with consultants, contractors etc, although it is envisaged that the level of detail and timing of decisions required between meetings may make this impracticable. Nonetheless, all Trustees are invited to join as members or to attend whenever they can. Gateway also envisages the need to engage external consultants and advisers into our discussions, but their role will be non-voting, with Trustees retaining oversight and ultimate decision-making responsibility.

Trustees are again asked to be on the lookout for potential new Trustees bearing in mind Gateway’s objectives and activities and the natural retirement of Trustees as time progresses.

Overall, the Board is satisfied with the financial position reached in the year and with Gateway’s work towards achievement of its Charitable Objectives.

Trustees remain cautious and require vigilance over the current economic, political and societal backdrop, but believe Gateway is performing a valued and important role, is operating prudently, and is still well placed to push forward with its plans and ambitions.

Thanks are due from the Board to all staff, freelancers, collaborators, consultants and advisers for their part in Gateway’s success, as well as our funders, partners and those from the various communities who work with us, and without whom we would not exist.

CHIEF EXECUTIVE/ARTISTIC DIRECTOR’S REPORT

1. External factors

Our Trinity capital development project has taken up much of Gateway’s capacity over the last year, working on funding applications, legal and other agreements with the Church organisations, and with RNJ, our main contractors. The Senior Leadership Team has been covering absence due to illness and family bereavements, taking up much more of our capacity than expected. Further demands on the senior team are anticipated in the coming year, 2024-2025, with continued pressure from the general economic situation and cost of living increases affecting our service users and our funders.

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Trustees’ Report For the Year Ended 31 March 2024

 Funding Environment

Arts Council England announced that the three-year NPO funding period had been extended to four years, meaning that the opportunity to apply for regular funding through this route had been closed off for another year and we would have to continue seeking revenue funding from other sources.

We were successful in our ACE capital application and was awarded £450k towards our Trinity project development.

We were notified by our AHF grant manager that the £250,000 Transformation grant we received in 2022 was part of a scheme that was closing in March 2024 and any claims were needed before that date. The capital development would not be fully funded by this point, so we worked with the AHF team to agree a spend programme for pre-construction works. The grant intervention rate was also amended from 20% to 80%. This enabled gateway to progress the designs to RIBA Stage 4, develop the heritage interpretation scheme, and conduct investigation works. The spend deadline was also amended to August 2024, but we may not be able to access the maximum amount of grant without completing the remainder of the fundraising.

Gateway’s Expression of Interest in applying to the Community Ownership Fund (COF) for capital funding had also been successful, and HM Government allocated resources to a third party consultant to help ensure the application met all the necessary criteria. A full application was prepared ready for submission in the second window of Round 4, which was scheduled to open in May 2024. The COF grant was to bridge the funding gap, allowing the purchase and re-development of Trinity to go ahead in full.

However, a General Election was announced before the May COF submission date, and the scheme was suspended. We await a decision by the incoming government as to whether this fund will be reinstated. If it is withdrawn, we will seek to identify further capital funding opportunities and will look to the NLHF as the ‘funder of last resort.’ The need to do so would almost inevitably impact on the on-site RIBA Stage 5 start-date for the project.

Gateway was selected for a pro bono feasibility study by Topo Architects to further develop the use of the ‘Over The Road’ studio. They designed a shopfront theatre and performance/rehearsal space, making use of the two other floors of the former Burton building. While we only have the building on a short term ‘peppercorn’ lease and there is currently no funding for converting the building, we remain ambitious for its future development as a multi-arts facility that will act as a catalyst for redevelopment of the run down and unloved Gateshead High Street.

 Gateshead

Gateshead Council has continued to recognise Gateway as a leading stakeholder in the town centre redevelopment and we remain a key player in consultation meetings and events. As part of the Council's cultural renaissance and its cultural ribbon, Gateway will work with the town centre manager to design and deliver the cultural vision for the High Street.

Gateway is also supporting the Council's Flourish project, a partnership group of local artists and the Newcastle and Northumbria Universities that has been established to advise the local authority on the engagement of artists in delivering social and cultural objectives and on an arts-led regeneration strategy.

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Trustees’ Report For the Year Ended 31 March 2024

A devolution deal for the North East was announced by the Government In December 2023. The North East Combined Authority was to be formed on 7 May 2024 with an Elected Mayor and Cabinet that covers seven local authority areas, including Gateshead. We will consider opportunities that may be created by the new arrangements and lobby accordingly.

Gateshead MP Ian Mearns announced that he would be stepping down from his role as the Labour Party representative at the next General Election. Gateway will seek to build an equally positive relationship with the new MP after the election.

2. Internal management context

 Degree programme

Gateway’s planned foundation degree course was written in-house and subsequently validated through New College Durham. However, we cancelled the programme due to start in September 2024 because we felt the College would not be able to recruit the required minimum number of students in time to make it financially viable for Gateway.

 Staffing

A new administrator was employed in January 2024, working 2.5 days a week. Although we did not receive NPO status and we are still working to our business plan, we recognise that back-office and operational capacity was, and still is, an issue. Additional funding sources will need to be found in the coming year to address the issue.

Gateway has recruited a further part time PAYE staff teacher and two additional freelance dance teachers, and a former student has returned to commence an internship.

Our regular volunteer team has also risen in numbers to 8 members.

 Working Group

An advisory group was established to instigate cultural change and to keep us in touch with our users' wants and needs. This working group is coordinated by a board member, and includes parents, users and members of the local community. It is a sounding board for new ideas and has helped us to understand how Gateway is perceived in the community and how we can offer valued services as well as enhancing our input to consultations with the Council on its regeneration plans.

The working group has met twice this year and has been supportive of the activities at the studio. They challenged us on our presence on social media and our external visibility. As a result, we have partnered with Precisionproco and LS consulting to increase our visibility.

Branded signage has been installed internally and externally at the ‘Over The Road’ studio and has been well received, and hopefully will encourage other High Street businesses to make improvements to their own shop frontages.

Gateway has developed ‘Diamonds in the Rough,’ a semi-permanent exhibition that will feature 8-10 large pictures of former Gateway dance students placed on a graffiti-tagged external wall at the OTR studio. We will consider applying for a National Lottery Project Grant in 2025 for a further series of

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Trustees’ Report For the Year Ended 31 March 2024

portraits, which may feature dance poses by community champions and from neighbouring businesses in Gateshead town centre.

Our focus has been on developing a system of scheduled posts consisting of reels, pictures and texts. Discussion of social media has led us to investigate the creation of a podcast suite at the studio, to be led by members of our community. Gateway would need to to raise £5K in 2024/2025 for the costs of equipment required to enable high quality production.

The podcast suite is also a possible income revenue stream.

Although we now have a clearer social media strategy and have made improvements in the use of image and branding, the Working Group risks dissipating as the students relocate for further studies or leave for other life circumstance changes. Parental support is still ongoing, but we will need to recruit younger members to the group more often to keep it dynamic and relevant, as young people’s lives and circumstance are more susceptible to change at the 16 – 24 year age range.

3. Artistic output and creative development

Gateway and other members of the Flourish group expressed an interest in being involved in The Red Kite Festival which will run between 8 June and 12 July 2024 to celebrate 20 years of the Red Kites' re-introduction. Flourish is tasked with animating the 9 mile trail along the Derwent valley with arts and culture, and Gateway Youth group is working towards delivery of workshops, live performances and participation in parades as part of the programme.

We successfully delivered phase 1 of our development training programme Capua Gate Dance from June 2023. This saw the group access dance training, dramaturgy, choreography and performance. Award winning actor Fraser James returned to work with the group on their acting skills. Artistic Director Martin Hylton created a new work ’50 Ways’ which had several performances which included the Heritage Trust Network Conference at Newcastle Cathedral in October 2023. The group reached over 600 new audience members.

Unfortunately, the National Lottery Project Grant application for the continuation of the Capua Gate mentorship programme beyond Stage 1 was not successful.

The Inner Gods film and 'Making of Inner Gods' have been screened several times throughout the year in community and education settings. Tyneside Cinema will be showing the films in July 2024 Each screening has included a Q&A panel with the cast members. These panels have inspired conversation around men’s mental health and well-being in the community. In feedback, we have been asked for an education package to accompany the film, which we are planning to develop later in 2024.

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Trustees’ Report For the Year Ended 31 March 2024

Our decant space, the ‘Over The Road’ studio, has allowed Gateway to develop its pool of freelance staff and offer support to other dance related organisations.

There has been a significant rise in studio bookings, with regular weekend bookings showing the biggest growth. These booking are self-sustaining independent groups supported by Gateway. In total we have 7 organisations new to Gateway using the space. With our social media presence and visibility on our website, we now have clear costings and a booking system in place.

Our new studio space has seen several sharings and performances, housing up to 60 audience members at a time. Our partnership with Theatre Royal has seen our dance students and their families engage in workshops and performances with the likes of Alvin Ailey.

4. Community and education provision

Gateway has created a wide range of provision across community, education and professional settings, with new partnerships and communities still being developed.

5. What didn’t go to plan in 2023 -2024

In our partnership working with New College Durham, we found the College was not used to operating with a small fleet-of-foot organisation like Gateway, and could not accommodate our requests for recruitment outside of their normal marketing procedures; this ultimately proved incompatible with our more targeted strategy. The low initial number of student applications resulted in our decision to cancel the plans to start the course due in September 2024. A timeline for

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Trustees’ Report For the Year Ended 31 March 2024

development and introduction would be required should such a decision be agreed, and our degree would require validation with the new partner.

The Northern School of Contemporary Dance has recently expressed an interest in partnering with Gateway and conversations will continue into 2024/25.

Although Gateshead is one of the most deprived wards in the country, ACE, Trusts and Foundations did not see Gateshead itself as a priority place. Eliot Smith Dance Company terminated their tenancy at Trinity and moved back to Newcastle where funding was more available.

Despite the positive outcomes from phase 1 of the Capua Gate programme, the unsuccessful ACE application for phase 2 (training and creation) meant we had no capacity for its delivery. Phase 3 would have seen further training for Capua to support a touring programme. Unfortunately, we were unable to retain the dancers, who went on to find other work, although three of the five did remain engaged in dance. Funding also lapsed for the project manager role, which lessened our capacity to write further applications.

The small Gateway team was already stretched, and the focus on our capital project in 2024/25 will no doubt put further strain on resources to make applications to fund, and to run, programmes like Capua Gate. Nonetheless, we will revisit this in spring 2025.

The hiatus in confirming funding for the Trinity capital project was frustrating, and probably costly as construction sector prices continue to rise. Completion of the detailed design at RIBA Stage 4 during the early part of 2024/25 will require a full re-costing of the project, and experience elsewhere suggests that the increases are likely to be substantial.

FINANCIAL REVIEW

The outturn for the period is an unrestricted surplus of £139,077, (2023: £1,922) this gives the charity Unrestricted Reserves of £155,443 (2023: £16,366).

Reserves Policy

The Trustees have reviewed the charity’s needs for reserves in line with the guidance issued by the Charity Commission.

The Trustees aim to hold a level of Unrestricted Reserves that provides sufficient financial resources to meet the liabilities which would crystalise if Gateway Studio were unable to continue operating. Their current estimate of the amount required for this purpose, equivalent to three month’s salaries and operating costs is approximately £59,000.

The charity’s total Unrestricted Reserves shown in the Balance Sheet as at 31 March 2024 are £155,443, (2023: £16,367). The charity’s free reserves (unrestricted funds not invested in tangible fixed assets) are in deficit by -£19,676, (2023: £16,367) The charity intends, through its budgeting, to reach its optimum level of reserves within three years.

This policy will be reviewed by the Trustees on an annual basis as part of the charity’s budgeting process.

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Trustees’ Report For the Year Ended 31 March 2024

Investment Policy

The charity has the power under the Memorandum and Articles of Association to make any investment which the Trustees see fit. Given the level of funds generated to date and the early stage of charity’s project to acquire the Trinity Centre, it is considered appropriate to keep funds in a form which is immediately accessible.

Risk Management

The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.

Gateway Studio has a risk management strategy in place that comprises:

The Trustees are satisfied that appropriate financial systems and controls are in place, together with appropriate employment policies and procedures.

The Trustees consider the key risks facing the charity at this time; mitigating actions to be taken as indicated:

The Trustees also manage the general financial risks by ensuring that:

TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENT

The Charity’s Trustees are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

GATEWAY STUDIO CIO

Trustees’ Report For the Year Ended 31 March 2024

The Charity’s Trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the CIO and the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing the financial statements, the Trustees are required to:

  1. select suitable accounting policies and then apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

  5. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the Charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the Board of Trustees on: 30 January 2025

And signed on its behalf by:

Jeff Dean

Trustee and Chair

GATEWAY STUDIO CIO

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 31 March 2024

I report on the financial statements of Gateway Studio CIO for the year ended 31 March 2024, which are set out on pages 13 to 23.

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 2011 ("the Charities 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 Fellow of the Association of Charity Independent Examiners.

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:

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 material matters have come to my attention which gives me cause to believe that in, any material respect:

I 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 accounts to be reached.

Jim Dodds FCIE 33 The Glebe Morpeth

Date: 30 January 2025

GATEWAY STUDIO CIO

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 March 2024

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
Income from:
Donations and legacies 6 1,000 - 1,000 1,238
Charitable activities
Grants and contracts 7 92,013 321,295 413,308 215,009
Investments 8 255 - 255 112
Total income 93,268 321,295 414,563 216,359
Expenditure on:
Raising funds 9 1,250 12,000 13,250 8,375
Charitable activities
Operation of the charity 10 94,662 127,857 222,519 219,207
Total expenditure 95,912 139,857 235,769 227,582
Net income/(expenditure) ( 2,644 ) 181,438 178,794 ( 11,223 )
Transfers between funds 141,721 ( 141,721 ) - -
Net income/(expenditure) and net
139,077 39,717 178,794 ( 11,223 )
movement of funds
Reconciliation of funds
Total funds brought forward 16,366 21,730 38,096 49,320
Total funds carried forward 155,443 61,447 216,890 38,097
Notes
----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

The notes on pages 15 to 23 form an integral part of these accounts.

Charity Number 1186728

GATEWAY STUDIO CIO

BALANCE SHEET

As at 31 March 2024

----- Start of picture text -----
Total Total
2024 2023
£ £ £ £
Fixed assets
Tangible assets 16 175,119 -
Total fixed assets 175,119 -
Current assets
Debtors 17 35,158 11,145
Cash at bank and in hand 18 160,403 226,925
Total current assets 195,561 238,070
Creditors: amounts falling due within
one year 19 ( 153,790 ) ( 199,973 )
Net current assets 41,771 38,097
Total assets less current liabilities 216,890 38,097
Total net assets or liabilities 216,890 38,097
Funds of the charity
Unrestricted income funds 155,443 16,366
Restricted income funds 61,447 21,730
Total funds 216,890 38,096
Notes
----- End of picture text -----

The notes on pages 15 to 23 form an integral part of these accounts.

These financial statements were approved by the Board on: 30 January 2025

and are signed on its behalf by:

Jeff Dean Trustee and Chair

GATEWAY STUDIO CIO

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2 Basis of accounting

2.1 Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts 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 2019) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Gateway Studio CIO meets the definition of a public benefit entity under FRS 102.

2.2 Preparation of the accounts on a going concern basis

The charity reported total unrestricted funds at the yearend of £155,443 and has already secured a significant amount of funding for the current year. The financial statements have been prepared on a going concern basis. In making their assessment the trustees have reviewed and considered relevant information, including their annual budget and future cash flows. The trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.

3 Income

3.1 Recognition of income

Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability

3.2 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.

3.3 Grants and donations

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.

3.5 Volunteer help

The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

GATEWAY STUDIO CIO

3.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

3.7 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

4 Expenditure and liabilities

4.1 Liability recognition

Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

4.2 Charitable activities

Expenditure on charitable activities includes the costs of the provision of dance education and other activities undertaken to further the purposes of the charity and their associated support costs.

4.3 Governance and support costs

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

4.4 Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

4.5 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

4.6 Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

5 Assets

5.1 Tangible fixed assets for use by the charity

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Assets under construction 0% No depreciation until completion IT and office equipment 25% Straight line

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NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

Analysis of income

6
7
8		 Donations and legacies
Donations
Charitable activities
Income from Grants and
Donations
Esmee Fairbairn Foundation
Community Ownership Fund
Garfield Western
The Architectural Heritage Fund
Income from contracts
Youth Groups
Merchandise Sales
Other Income
Office and Room Rental
Gateshead Council
Income from investments
Community classes
Car Parking Rental
Educational Contract
Arts Council England - Elevate
Ticket Sales
Employment allowance
Interest - deposits
Arts Council England		 Unrestricted
Funds
£
1,000
1,000
-
-
-
-
-
-
54,540
5,518
-
4,159
50
12,450
-
10,296
5,000
92,013
255
255		 Restricted
Funds
£
-
-
5,000
98,800
76,015
3,600
50,000
87,880
-
-
-
-
-
-
-
-
-
321,295
-
-		 Total
2024
£
1,000
1,000
5,000
98,800
76,015
3,600
50,000
87,880
54,540
5,518
-
4,159
50
12,450
-
10,296
5,000
413,308
255
255		 Total
2023
£
1,238
1,238
40,190
-
96,598
-
-
-
58,228
-
260
3,453
-
4,768
800
5,712
5,000
215,009
112
112

Income was £414,563 (2023: £216,359) of which £93,268 was unrestricted or designated (2023: £109,533) and £321,295 was restricted (2023: £106,826).

GATEWAY STUDIO CIO

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

Analysis of expenditure on charitable activities

9
10		 Raising funds
Charitable activities
Direct costs
Support costs
HR support
Other overhead cost
Print, postage & stationery
Repairs & maintenance/cleaning
Trinity Capital Development
Professional fees
Governance costs
Bookkeeping & payroll fees
Heat & light/water rates
Communication costs
Bank charges
Travel & accommodation
Depreciation
Independent examiner's fees for reporting on
the accounts
Salaries & on costs
Security cost
Insurance
Advertising & promotion
Dance tuition cost
Other direct cost
Incurred seeking grants
Salaries & on costs		 Unrestricted
Funds
£
1,250
1,250
688
26,563
9,196
1,025
240
-
5,837
314
3,733
3,084
359
140
29,893
2,609
5,148
4,583
-
-
1,250
94,662		 Restricted
Funds
£
12,000
12,000
-
35,309
37,218
311
-
-
7,200
-
-
-
-
-
39,734
-
-
2,925
-
5,160
-
127,857		 Total
2024
£
13,250
13,250
688
61,872
46,414
1,336
240
-
13,037
314
3,733
3,084
359
140
69,627
2,609
5,148
7,508
-
5,160
1,250
222,519		 Total
2023
£
8,375
8,375
83
71,576
43,307
2,220
113
952
14,362
100
2,954
1,068
140
156
43,785
1,137
4,271
7,284
19,289
5,160
1,250
219,207

Expenditure on charitable activities was £235,769 (2023: £227,583) of which £95,912 was unrestricted or designated (2023: £107,611) and £139,857 was restricted (2023: £119,972).

11 Fees for examination of the accounts

Independent examiner's fees for reporting on the accounts
There were no other fees paid to the examiner (2023: £nil)		 2024
£
1,250
1,250		 2023
£
1,250
1,250

GATEWAY STUDIO CIO

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

12 Analysis of staff costs and the cost of key management personnel

Pension costs (defined contribution pension plan)
Social security costs
Salaries and wages		 2024
£
113,052
11,101
2,246
126,399		 2023
£
102,503
10,728
2,130
115,361

One employee received remuneration between £60,000 and £70,000 (2023: nil).

The key management personnel of the charity, comprise the Trustees and the Artistic Director (CEO) . The total employee benefits of the key management personnel of the charity were £60,083. (2022: £41,980)

13 Staff numbers

The average monthly head count was 4 staff (2023: 3.2 staff) and the average monthly number of full-time equivalent employees during the year were as follows:

Charitable activities
The parts of the charity in which the employee's work		 2024
Number
3.0
3.0		 2023
Number
2.9
2.9

14 Transactions with trustees

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

Trustees' expenses

No trustee expenses have been incurred in the year.

Transaction(s) with related parties

The following detail the related party transactions in the reporting period.

Name of the trustee or related
party
Peter Huggins
Trustee
Description of the
transaction
Freelance teacher
Relationship
to charity		 2024
£
1,980		 2023
£
2,340

The charity undertook an arm’s length process to ensure they chose the best provider, Peter Huggins was not part of the decision making process.

15 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

GATEWAY STUDIO CIO

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

Assets under
16 Tangible fixed assets
construction
Cost
Balance brought forward
-
Additions
175,119
Disposals
-
Balance carried forward
175,119
Depreciation
Basis
SL
Rate
0%
Balance brought forward
-
Depreciation charge for year
-
Disposals
-
Balance carried forward
-
Net book value
Brought forward
-
Carried forward
175,119
17 Debtors and prepayments (receivable within 1 year)
Accrued Income - National Lottery Heritage Fund
18
Cash at bank and in hand
19
Taxation and social security
Trade creditors
Cash at bank and in hand
Prepayments
Trade debtors
Independent examination of accounts
Creditors and accruals (payable within 1 year)
Accruals
Deferred income		 IT & office
equipment
£
2,857
-
-
2,857
SL
25%
2,857
-
-
2,857
-
-
2024
£
24,541
10,030
587
35,158
2024
£
160,403
160,403
2024
£
9,834
2,706
1,250
140,000
153,790		 2023
£
315
10,030
800
11,145
2023
£
226,925
226,925
2023
£
3,686
2,356
1,250
192,681
199,973		 Total
£
2,857
175,119
-
177,976
2,857
-
-
2,857
-
175,119

GATEWAY STUDIO CIO

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

20 Deferred income

Deferred income comprises of advance payments from grants that relate to future periods

----- Start of picture text -----
2022
£
Balance brought forward 192,681
Amount released to income earned from ( 192,681 )
charitable activities
Amount deferred in year 140,000
Balance carried forward 140,000
----- End of picture text -----

21 Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The employer's pension costs represent contributions payable by the charity to the fund and amount to £2,246 (2023: £2,130). There was £0 outstanding as at 31 March 2024 (2023: £0).

22 Events after the end of the reporting period

No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

23 Analysis of charitable funds

Analysis of movements in unrestricted funds

For the year ended 31 March 2024

Unrestricted funds
General unrestricted fund
Totals		 Fund
balances
brought
forward
£
16,366
16,366		 Incoming
resources
£
93,268
93,268		 Resources
expended
£
( 95,912 )
( 95,912 )		 Transfers
£
141,721
141,721		 Fund
balances
carried
forward
£
155,443
155,443

For the year ended 31 March 2023

Unrestricted funds
General unrestricted fund
Totals		 Fund
balances
brought
forward
£
14,444
14,444		 Incoming
resources
£
109,533
109,533		 Resources
expended
£
( 107,611 )
( 107,611 )		 Transfers
£
-
-		 Fund
balances
carried
forward
£
16,366
16,366

Purpose of unrestricted funds

General unrestricted fund

The 'free reserves' of the charity.

GATEWAY STUDIO CIO

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

24 Analysis of charitable funds continued

Analysis of movement in restricted funds

For the year ended 31 March 2024

Restricted funds
Arts Council England - Elevate
National Lottery Heritage Fund
Trinity Project
Arts Council England
Esmee Fairbairn Foundation
Community Ownership Fund
Garfield Western
The Architectural Heritage Fund
Totals		 Fund
balances
brought
forward
£
-
21,730
-
-
-
-
-
21,730		 Incoming
resources
£
5,000
-
98,800
76,015
3,600
50,000
87,880
321,295		 Resources
expended
£
-
( 850 )
( 64,277 )
( 71,331 )
-
-
( 3,400 )
( 139,858 )		 Transfers
£
-
( 10,720 )
( 30,000 )
-
( 1,410 )
( 50,000 )
( 49,591 )
( 141,721 )		 Fund
balances
carried
forward
£
5,000
10,160
4,523
4,684
2,190
-
34,889
61,446

For the year ended 31 March 2023

Restricted funds
Arts Council England - Elevate
National Lottery Heritage Fund
Trinity Project
Esmee Fairbairn Foundation
Totals		 Fund
balances
brought
forward
£
1,635
33,241
-
34,876		 Incoming
resources
£
40,190
-
66,636
106,826		 Resources
expended
£
( 41,825 )
( 11,511 )
( 66,636 )
( 119,972 )		 Transfers
£
-
-
-
-		 Fund
balances
carried
forward
£
-
21,730
-
21,730

Purpose of restricted funds

Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.

Arts Council England - Elevate

National Lottery Heritage Fund Trinity Project

Arts Council England

Esmee Fairbairn Foundation

Community Ownership Fund

Garfield Western

The Architectural Heritage Fund

Funding towards the cost of organisation development.

Funding from National Lottery Heritage Fund and Arts Council England Emergency Fund towards the development phase of a project to buy and convert the Trinity Centre into a centre of arts, heritage and community.

Funding for the development of Trinity Church.

To fund the creation and recruitment of new positions within the charity to further its reach, capacity, and scope of its charitable objectives and activities.

Funding for the development of Trinity Church.

Funding for the development of Trinity Church.

Funding for the development of Trinity Church.

GATEWAY STUDIO CIO

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

24 Capital commitments

As at 31 March 2024, the charity had no capital commitments (2023 -£nil).

25 Analysis of net assets between funds 2024

Tangible fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Other net current assets/(liabilities)
Cash at bank and in hand
Tangible fixed assets
Analysis of net assets between funds 2023		 Unrestricted
Funds
£
175,119
88,926
( 108,601 )
155,443
Unrestricted
Funds
£
-
195,165
( 178,799 )
16,366		 Restricted
Funds
£
-
71,477
( 10,030 )
61,447
Restricted
Funds
£
-
31,760
( 10,030 )
21,730		 Total
2024
£
175,119
160,403
( 118,631 )
216,890
Total
2023
£
-
226,925
( 188,829 )
38,096

26 Guarantee

There have been no guarantees given by the charity at 31 March 2024.

27 Debt

There is no debt outstanding which is owed by the charity and which is secured by an excess charge on any of the assets of the charity at 31 March 2024.

28 Governing document

The organisation is a Charitable Incorporated Organisation - Foundation registered on 04 December 2019 as a body corporate under part 11 of the Charities Act 2011.