Registered Charity Number 1199249
YOURGATEWAY2SUCCESS
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 December 2022
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YOURGATEWAY2SUCCESS
REPORT OF THE TRUSTEE BOARD FOR THE
YEAR ENDED 31 December 2022
Introduction
The committee submits their report and the accounts of the Charity for the year ended 31 December 2022
LEGAL AND ADMINISTRATIVE INFORMATION
Charity Number: 1199249
Committee Members
The members who served during the year were as follows: -
Representative Members
Member
Grace Washuka Ngunyi
Olivia Mameama Dwirah Dickson
Veronica Njeri Kinganga
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Members of the YOURGATEWAY2SUCCESS
Grace Washuka Ngunyi
Olivia Mameama Dwirah Dickson
Veronica Njeri Kinganga
Principal Office
UNIT 4, 44A GLOUCESTER ROAD CROYDON CR0 2DA
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YOURGATEWAY2SUCCESS
REPORT OF THE TRUSTEE BOARD FOR THE
YEAR ENDED 31 December 2022
(CONTINUED)
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The organisation is a charity, registered with the Charity Commission ..
Recruitment and Training of Trustees Members
Newly appointed trustees are provided with a comprehensive induction to YOURGATEWAY2SUCCESS through the provision of training courses and mentoring by established trustees
Related Parties
Operating policies are independently determined by the Trustee Board of
YOURGATEWAY2SUCCESS in order to fulfil its charitable objects and comply with the national membership requirements.
The charity also co-operates and liaises with a number of other advisory services, local charities and social services departments on behalf of clients.
Organisational Management
YOURGATEWAY2SUCCESS is operated by its Trustee board which is responsible for setting the strategic direction of the organization and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of YOURGATEWAY2SUCCESS and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day-to-day operation of the organisation.
Risk Management
YOURGATEWAY2SUCCESS has worked on a corporate risk management exercise. A risk management strategy and risk register were agreed by the Trustee Board. The Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end YOURGATEWAY2SUCCESS is continually monitoring and managing its risk.
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YOURGATEWAY2SUCCESS
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 December 2022
(CONTINUED)
Included in external risks is that of loss of funding. The effects of this have been minimized by the procedures in place, which have resulted in funding being secured from a variety of sources. The charity continues to seek to diversify its funding sources.
OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES
Charitable Objects
To advance in life and help young people aged 16-25 years old in Croydon through: a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
Objectives for the Year
YOURGATEWAY2SUCCESS aims to improve the conditions of life of residents by promoting and supporting activities which develop skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals
Principal Activities of the Year
The object of the Association shall be the provision of recreational activities
Use of Volunteers
The charity receives help and support in the form of voluntary assistance in advising the public and administering the charity. 3 volunteers contributed approximately 24 hours per week to the charity.
Reserves Policy
Zero reserves
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YOURGATEWAY2SUCCESS
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 December 2022
(CONTINUED)
Investment Policy
Surplus funds are invested in interest bearing accounts with the YOURGATEWAY2SUCCESS’s Bank
FUTURE PLANS
YOURGATEWAY2SUCCESS’s aims to continually improve access to its service and intends to extend its service to an even wider number of the community through increased outreach locations.
ACCOUNTING AND REPORTING RESPONSIBILITIES
Statement of Trustee Boards’ Responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently.
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concerning basis unless it is inappropriate to presume that the charity will continue on that basis.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the charity, and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law, regulations and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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YOURGATEWAY2SUCCESS
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 December 2022
(CONTINUED)
Statement as to Disclosure of Information to Auditors
In accordance with charity law, we certify that:
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so far as we are aware, there is no relevant audit information of which the Trustee Board members are unaware, and
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As the Trustee Board members of the charity, we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
Auditors
YOURGATEWAY2SUCCESS have not appointed any auditors at this moment.
This report has been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities (issued in August 2005).
1. ACCOUNTING POLICIES
a) Basis of Accounting
The financial statements have been prepared under the historical cost convention in accordance with applicable accounting standards and follow the recommendation in Accounting and Reporting by Charities: Statement of Recommended Practice issued in 2005.
b) Income
Grants received are accounted for in the period to which they relate. Investment income and other incoming resources are accounted for in the period in which they are received.
c) Resources
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i) Resources expended are recognised in the period in which they are incurred.
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ii) Charitable activities’ 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
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YOURGATEWAY2SUCCESS
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 December 2022
(CONTINUED)
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iii) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.
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iv) All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. The majority of costs relate to charitable activities and have been allocated as such on the SOFA.
d) Fund Accounting
i) Restricted funds relates to grants made for specific purposes as laid down by the donor (e.g. for specific projects).
Expenditure that meets these specific purposes is matched against grant income and analysed over the appropriate cost.
Further details regarding Restricted Funds are provided in Note 13.
ii) Unrestricted funds comprise other income received or generated for charitable purposes, but which may be spent at the discretion of the Trustee Board.
iii) Designated funds are those unrestricted funds that have been earmarked by the Trustee Board for a specific but not legally binding purpose.
e) Fixed Assets
Depreciation is provided on fixed assets at rates calculated to write off the cost of each asset over its estimated useful life, having regard to the funding arrangements of the project were
appropriate. Items of expenditure below £500 per item are written off to revenue in the year in which the expenditure was incurred. The estimated useful lives of major classes of assets are:
Fixtures, Fittings and Equipment - 5 years
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YOURGATEWAY2SUCCESS
REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31 December 2022
(CONTINUED)
The statement of financial activities includes all the gains and losses recognized in the year. All incoming resources and resources expended derive from continuing activities.
Approved by the Committee on 31 January 2023 and signed on its behalf by
Grace Ngunyi
………………………………
Chairperson
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YOURGATEWAY2SUCCESS No 1199249 Receipts and payments accounts CC16a For the period 1-Jan-22 12/31/2022 To from
| Section A Receipts and payments | ||||
|---|---|---|---|---|
| A1 Receipts Donations 3,711 - - - - - - - 3,711 - - Sub total - Total receipts 3,711 A3 Payments TRAININGS & WORKSHOPS 2,620 ADMINISTRATIVE 1,050 OFFICE,PRINTING & STATIONERIES 50 - - - - - - Sub total 3,720 - - Sub total - Total payments 3,720 Net of receipts/(payments) - 9 A5 Transfers between funds - A6 Cash funds last year end - Cash funds this year end - 9 Unrestricted funds to the nearest £ Sub total(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table) |
to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Restricted funds |
to the nearest £ Endowment funds |
Total funds to the nearest £ 3,711 - - - - - - - 3,711 - - - 3,711 2,620 1,050 50 - - - - - - 3,720 - - - 3,720 - 9 - - - 9 |
Last year to the nearest £ |
| - - - - - - - - - |
3,711 | - | ||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 3,711 | - | |||
| - - - |
- | |||
| - | - | |||
| - | - | |||
| - | 3,711 | - | ||
| - - - - - - - - - - |
2,620 | - | ||
| 1,050 | - | |||
| 50 | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 3,720 | - | |||
| - - - |
- | |||
| - | ||||
| - | - | |||
| - | 3,720 | - | ||
| - | - - - - |
- 9 | - | |
| - | - | - | ||
| - | - | - | ||
| - | - 9 | - |
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees |
Details Details Details Details Details Signature G. Ngunyi Total cash funds (agree balances with receipts and payments account(s)) |
to nearest £ to nearest £ - - - - - - - - Agreement Error OK to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Print Name Grace Washuka Ngunyi Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Amount due (optional) |
to nearest £ Endowment funds |
|---|---|---|---|
| - | |||
| - | |||
| - | |||
| - | |||
| OK | |||
| to nearest £ Endowment funds |
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| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
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| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
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| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| When due (optional) |
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| Date of approval |
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| G. Ngunyi | Grace Washuka Ngunyi | 1/31/2023 | |