CITY GATE FOUNDATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] DECEMBER 2024
REGISTERED CHARITY NUMBER: 1190694
CITY GATE FOUNDATION 25 ANCASTER CRESCENT NEW MALDEN SURREY KT3 6BD
INDEX Page Legal & Administrative Details 1 Trustee’s Report 2- 3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7-12
CITY GATE FOUNDATION
LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] December 2024
ADDRESS FOR CORRESPONDENCE
25 Ancaster Crescent New Malden KT3 6BD
REGISTERED CHARITY NUMBER
1190694
GOVERNING DOCUMENT
CIO – ASSOCIATION Registered 3 August 2020 as amended on 17 December 2023
TRUSTEES
Murewa Mary Taiwo Emily Ojo-Dosunmu Bosede Tosin Afolayan
PRINCIPAL BANKERS
METRO BANK ONE SOUTHAMPTON ROW LONDON WC1B 5HA
INDEPENDENT EXAMINER
FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH
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CITY GATE FOUNDATION
TRUSTEES’ REPORT YEAR ENDED 31[st] December 2024
The trustees are pleased to present their report for the year ended 31[st] December 2024 for the charity, City Gate Foundation with Charity Number 1190694.
The Trustees of the charity are: Murewa Mary Taiwo Emily Ojo-Dosunmu Bosede Tosin Afolayan
The principal address of the charity is : 25 Ancaster Crescent New Malden Surrey KT3 6BD
OBJECTS
To advance the Christian faith in the United Kingdom mainly but not exclusively for the benefit of the public by producing and distributing Christian literature, holding of lectures and seminars to enlighten others about the Christian religion, providing financial assistance and other charitable forms of assistance to individuals and organisations .
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is governed by a leadership team on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position. The trustees appointed have served exemplary in providing much needed governance and administrative support and guidance to the charity throughout the year. None of the trustees received any remuneration during the financial year.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are to advance the Christian faith in accordance with the Statement of faith and the relief of poverty. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The charity continues to develop itself in the community. The charity also continues to hold regular outreaches supporting the needy that are open to the general public. The charity held successful events during the year, which impacted the lives of many in a positive manner as many refused food items and clothing.
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FINANCIAL REVIEW
The income of the charity is above £112,000. This is a fair amount than on the previous year and the costs have been well managed over this period. So the charity hopes to continue its work in the coming year without any unnecessary financial constraints. The charity used most of its income on the rent of the building and running outreach events in the community. The charity is a going concern.
PLANS FOR THE FUTURE
The charity intends to continue to host its regular yearly events in UK. They will continue to support their Christian work in the community. The intended reappointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The church will maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the charity. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the charity at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the charity and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 24[th] September 2025 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees CITY GATE FOUNDATION
I report on the accounts of the charity for the year ended 31[ST ] December 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the charity are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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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 Commissioners. 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of 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 aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles Road Mitcham Surrey CR4 3FH
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CITY GATE FOUNDATION
Statement of Financial Activities for the year ended 31st December 2024
| Incoming ResourcesNote from generated funds Donations and Legacies 2 Investment income 3 Other Total Incoming Resources Resources Expended Expenditure on: Charitable Activities 5 Other 4 Total Resources Expended Net movement in funds Reconciliation of Funds Total Funds brought forward Total Funds carried forward |
Unrestricted Total Funds Funds 2024 2023 £ £ £ 89969 89969 217782 0 0 0 ___ ___ |
Unrestricted Total Funds Funds 2024 2023 £ £ £ 89969 89969 217782 0 0 0 ___ ___ |
|---|---|---|
| ___ 89969 89969 24902 24902 |
___ 217782 4116 |
|
| _________ 114871 114871 |
___ 221898 |
|
| _________ 112,253 112,253 1543 1543 |
___ 216949 3926 |
|
| _________ 113,796 113,796 |
___ 220875 |
|
| _________ 1,075 1,075 2738 2738 |
___ 1023 1715 |
|
| 3,813 3,813 |
2738 |
The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
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CITY GATE FOUNDATION
Balance Sheet as at 31st December 2024
| Note 2024 Fixed Assets £ Tangible fixed assets 5 4213 4213 Current Assets Cash at bank and 0 in hand Debtors & prepayments 0 0 Creditors:amounts falling due within one year Creditors & accruals 8 400 _ Net Current Assets -400 _ Net Assets 3813 Unrestricted Funds 3813 ___ TOTAL FUNDS 3813 |
2023 £ 4276 |
|---|---|
| 11609 | |
| 962 | |
| 962 2500 |
|
| ___ -1538 |
|
| ___ 2738 2738 |
|
| ___ 2738 |
Approved by the trustees on 24th September 2025 and signed on their behalf by :
The notes on these accounts form part of these accounts
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CITY GATE FOUNDATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024
1.1 Basis of Accounting
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
1.2 Going Concern: The accounts are prepared on a going concern basis. 1.3 The accounts present a true and fair view and no change have been made to the accounting policies adopted. 1.4 No changes to the accounting estimates have occurred in the reporting period 1.5 No material prior year error have been identified in the reporting period.
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
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The charity becomes entitled to resources;
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It is more likely than not that the trustees will receive the resources;
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The monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
.
Tax reclaim on donations and gifts
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where 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.
Grants and Support Costs
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
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CITY GATE FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
ASSETS
Tangible Fixed Assets for use by the charity
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
Debtors
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
.
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CITY GATE FOUNDATION
Notes to the accounts for year ended 31st December 2024
2 Voluntary Income
| Unrestricted | Total fundsTotal funds | |
|---|---|---|
| Funds Restricted |
2024 2023 |
|
| Church collections | £ £ |
£ £ |
| Donations | 89969 | 89969 217782 |
| _________ | ||
| Total | 89969 | 89969 217782 |
| _________ |
3 Investment income
| Unrestricted | Unrestricted | Total fundsTotal funds | Total fundsTotal funds | ||||
|---|---|---|---|---|---|---|---|
| Funds £ | 2024/£ | 2023/£ | |||||
| Bank Interest | 0 | 0 | 0 | ||||
| **4 ** | Other | amount £/2024 | Amount £/2023 | ||||
| Accountancy fees | 400 | 2501 | |||||
| Training | 90 | 0 | |||||
| Depreciation | 1053 | 1425 | |||||
| _________ | |||||||
| Total | 1543 | 3926 | |||||
| _________ | |||||||
| Instument | |||||||
| **5 ** | Tangible Fixed Assets | Vehicles | Equipment | Fixt & Fitt | Total | 2024 | |
| Cost | £ | £ | £ | £ | |||
| At 01/01/2024 | 0 | 0 | 6268 | 6268 | |||
| Additions | 0 | 0 | 990 | 990 | |||
| At 31/12/2024 | 0 | 0 | 7258 | 7258 | |||
| Depreciation | |||||||
| At 01/01/2024 | 0 | 0 | 1992 | 1992 | |||
| charge for the year | 0 | 0 | 1053 | 1053 | |||
| At 31/12/2024 | 0 | 0 | 3045 | 3045 | |||
| Net Book Value at | 31/12/2024 | 0 | 0 | 4213 | 4213 | ||
| Net Book Value at 01/01/2024 | 0 | 0 | 4276 | 4276 |
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CITY GATE FOUNDATION Notes to the accounts for year ended 31st December 2024
| **6 ** | Cost of Activities in | furtherance of Charity's Objectives | furtherance of Charity's Objectives | furtherance of Charity's Objectives |
|---|---|---|---|---|
| Unrestricted | 2024/£ | 2023/£ | ||
| Missions & Outreach | 44260 | 68841 | ||
| Community Engageme | 10445 | 25100 | ||
| Refreshments | 1627 | 8393 | ||
| Donation & Charities | 18274 | 24668 | ||
| Travel & Substitence | 1188 | 1136 | ||
| Printing & Stationery | 155 | 259 | ||
| Repairs | 210 | 0 | ||
| Capacity Building | 1200 | 7500 | ||
| Church Supplies | 2811 | 26391 | ||
| Mission house costs | 550 | 9159 | ||
| Honorarium | 2000 | 5200 | ||
| Rent & Rates | 12862 | 13672 | ||
| Software | 2640 | 0 | ||
| Charity events | 4067 | 0 | ||
| Professional fees | 4620 | 0 | ||
| Subscriptions | 44 | 0 | ||
| Telephone & Internet | 50 | 0 | ||
| Voluneer expenses | 5250 | 0 |
| __________ |
|---|
| TotAL 112253 190319 |
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CITY GATE FOUNDATION Notes to the accounts for year ended 31ST December 2024
Governance Costs
| Governance Costs | |
|---|---|
| Independent examination Administration Total |
2024/£ 2023/£ 400 500 2000 |
| 400 2500 |
All work was undertaken by volunteers.
| **8 ** | Creditors: amounts falling due within one year | 2024/£ | 2023/£ | |
|---|---|---|---|---|
| Creditors | 400 | 2500 | ||
| **9 ** | Debtors and Prepayments | 2024/£ | 2023/£ | |
| Debtors | 0 | 0 |
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