EAST GATE TRUST,Ltd - AccountsChartiy- Accounts

EAST GATE TRUST,Ltd - AccountsChartiy- Accounts

EAST GATE TRUST - Company Information

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2019-10-01 02661917 2020-09-30 02661917 2019-10-01 2020-09-30 02661917 uk-bus:Director1 2019-10-01 2020-09-30 02661917 uk-bus:Director1 2020-09-30 02661917 uk-bus:Director2 2019-10-01 2020-09-30 02661917 uk-bus:Director2 2020-09-30 02661917 uk-bus:CompanySecretary1 2019-10-01 2020-09-30 02661917 uk-char:TotalUnrestrictedFunds 2019-10-01 2020-09-30 02661917 2019-09-30 02661917 2018-10-01 2019-09-30 02661917 uk-core:WithinOneYear 2020-09-30 02661917 uk-core:WithinOneYear 2019-09-30 02661917 uk-char:TotalUnrestrictedFunds 2020-09-30 02661917 uk-char:TotalUnrestrictedFunds 2019-09-30 02661917 uk-core:Buildings 2019-10-01 2020-09-30 02661917 uk-core:FurnitureFittings 2019-10-01 2020-09-30 02661917 uk-core:FurnitureFittings 2019-09-30 02661917 uk-core:Buildings 2019-09-30 02661917 uk-core:Buildings 2020-09-30 02661917 uk-core:FurnitureFittings 2020-09-30 02661917 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2019-10-01 2020-09-30 02661917 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2018-10-01 2019-09-30 02661917 uk-char:TotalUnrestrictedFunds 2018-10-01 2019-09-30 02661917 uk-char:MaterialFund1 2019-10-01 2020-09-30 iso4217:GBP xbrli:pure 02661917 uk-bus:AuditExempt-NoAccountantsReport 2019-10-01 2020-09-30 02661917 uk-bus:FRS102 2019-10-01 2020-09-30 02661917 uk-bus:FullAccounts 2019-10-01 2020-09-30
(England and Wales)
Company number: 02661917
Charity number: 1009279
EAST GATE TRUST
For the year ended 30 September 2020
Report of the Trustees and Unaudited Financial Statements
2
For the year ended 30 September 2020
EAST GATE TRUST
Contents Page
1
Report of the Trustees
2
Statement of Financial Activities
3
Statement of Financial Position
4 to 9
Notes to the Financial Statements
3
For the year ended 30 September 2020
EAST GATE TRUST
Report of the Trustees
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial
statements for the charitable company for the year ended 30 September 2020. The Trustees have adopted the provisions of
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 the Republic of Ireland (FRS 102) (effective 1 January
2019).
Chair's report
During the year the company continued to fund the work of developing the barn and grounds at Thrigby and to hold meetings of a
Christian nature.
The directors have purposed to dispose of their small parcel of land at Brecklands Green North Pickenham. Whilst operating from
there until 2007, they were always mindful of the housing potential for the land but the political scene was never right. In 2017 it was
decided to go for planning and after several failed attempts they appealed and won the appeal in 2018. The accounts reflect the high
costs involved. In addition the trust supported the conversion of the barn and grounds at Thrigby Windmill whilst using the premises for
small meetings.
REFERENCE AND ADMINISTRATIVE INFORMATION
EAST GATE TRUST
Name of Charity
Charity registration number
1009279
02661917
Company registration number
Mill Cottage, Mill Road
Principal address
Thrigby
Great Yarmouth
Norfolk
NR29 3DY
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Peter Gillett
Mrs Patricia Gillett
Mr Peter Gillett
Secretary
.............................................................................
Approved by the Board of Trustees and signed on its behalf by
19 June 2021
Mr Peter Gillett Secretary
1 of 9
4
For the year ended 30 September 2020
EAST GATE TRUST
Statement of Financial Activities (including Income and Expenditure account)
2019
Unrestricted
funds
Notes
£
£
Income and endowments from:
Donations and legacies
3,929
320
2
Charitable activities
-
1,733
3
Total
3,929
2,053
Expenditure on:
Raising funds
-
(482)
4
Charitable activities
(4,708)
(3,726)
5/6
Total
(4,708)
(4,208)
(779)
(2,155)
Net expenditure
Reconciliation of funds
Total funds brought forward
(1,008)
(3,163)
Total funds carried forward
(3,942)
(3,163)
2 of 9
5
02661917
Registered Number :
As at 30 September 2020
EAST GATE TRUST
Statement of Financial Position
£
£
Notes
2020
2019
Fixed assets
Tangible assets
12,113
12,626
11
12,113
12,626
Current assets
Stocks
120
120
12
196
196
13
Debtors
Cash at bank and in hand
323
(85)
639
231
Creditors: amounts falling due within one year
(16,695)
(16,019)
14
Net current assets
(16,056)
(15,788)
Total assets less current liabilities
(3,943)
(3,162)
Net assets
(3,943)
(3,162)
The funds of the charity
Unrestricted income funds
15
(3,942)
(3,163)
Total funds
(3,942)
(3,163)
For the year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
19 June 2021
Mr Peter Gillett
3 of 9
6
For the year ended 30 September 2020
EAST GATE TRUST
Notes to the Financial Statements
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. EAST GATE TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
o% Straight line
Land and buildings
10% Reducing balance
Plant and machinery
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2. Income from donations and legacies
2019
2020
£
£
Unrestricted funds
Donations received
320
3,929
320
3,929
3. Income from charitable activities
2019
2020
£
£
Provision of meeting facilites
-
1,733
Income from charitable activities
4 of 9
7
For the year ended 30 September 2020
EAST GATE TRUST
Notes to the Financial Statements Continued
4. Investment management costs
2019
2020
£
£
Other investment management
costs
482
-
-
482
5. Costs of charitable activities by fund type
2019
2020
£
£
Unrestricted funds
3,425
4,558
Provision of meeting facilites
301
150
Support costs
3,726
4,708
6. Costs of charitable activities by activity type
2019
2020
£
£
Activities undertaken directly
Provision of meeting facilites
4,708
3,726
7. Analysis of support costs
2019
2020
£
£
Governance costs
150
301
5 of 9
8
For the year ended 30 September 2020
EAST GATE TRUST
Notes to the Financial Statements Continued
8. Net income/(expenditure) for the year
This is stated after charging/(crediting):
2020
2019
£
£
Accountancy fees
150
301
9. Staff costs
2020
2019
2
trustees
2
2
2
10. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
11. Tangible fixed assets
Plant and
machinery
Land and
buildings
Total
Cost or valuation
£
£
£
28,718
21,218
7,500
At 01 October 2019
At 30 September 2020
7,500
21,218
28,718
Depreciation
16,092
16,092
-
At 01 October 2019
Charge for year
513
513
-
16,605
16,605
-
At 30 September 2020
Net book values
At 30 September 2020
At 30 September 2019
7,500
7,500
4,613
5,126
12,113
12,626
6 of 9
9
For the year ended 30 September 2020
EAST GATE TRUST
Notes to the Financial Statements Continued
12. Stocks and work in progress
2020
2019
£
£
Stock
120
120
120
120
13. Debtors
2020
2019
£
£
Amounts due within one year:
Other debtors
196
196
196
196
14. Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
1
-
Other creditors
15,396
14,871
Accruals and deferred income
1,298
1,148
16,695
16,019
15. Movement in funds
Unrestricted Funds
Balance at
01/10/2019
Incoming
resources
Outgoing
resources
Balance at
30/09/2020
£
£
£
£
General
(3,163)
3,929
(4,708)
(3,942)
General
(3,163)
3,929
(4,708)
(3,942)
7 of 9
10
For the year ended 30 September 2020
EAST GATE TRUST
Notes to the Financial Statements Continued
Unrestricted Funds - Previous year
Balance at
01/10/2018
Incoming
resources
Outgoing
resources
Balance at
30/09/2019
£
£
£
£
General
(1,008)
2,053
(4,208)
(3,163)
General
(1,008)
2,053
(4,208)
(3,163)
Purpose of unrestricted Funds
General
Supporting Thrigby Post Mill
16. Analysis of net assets between funds
Tangible fixed
assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
Unrestricted funds
General
12,113
(16,056)
(3,943)
General
12,113
(16,056)
(3,943)
Previous year
Tangible fixed
assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
Unrestricted funds
General
12,626
(15,788)
(3,162)
General
12,626
(15,788)
(3,162)
17. Company limited by guarantee
EAST GATE TRUST is a company limited by guarantee and accordingly does not have a share capital.
8 of 9
11
For the year ended 30 September 2020
EAST GATE TRUST
Notes to the Financial Statements Continued
9 of 9