EAST GATE TRUST,Ltd - AccountsChartiy- Accounts

EAST GATE TRUST,Ltd - AccountsChartiy- Accounts

EAST GATE TRUST - Company Information

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2021-10-01 02661917 2022-09-30 02661917 2021-10-01 2022-09-30 02661917 uk-bus:Director1 2021-10-01 2022-09-30 02661917 uk-bus:Director1 2022-09-30 02661917 uk-bus:Director2 2021-10-01 2022-09-30 02661917 uk-bus:Director2 2022-09-30 02661917 uk-bus:CompanySecretary1 2021-10-01 2022-09-30 02661917 uk-char:TotalUnrestrictedFunds 2021-10-01 2022-09-30 02661917 2021-09-30 02661917 2020-10-01 2021-09-30 02661917 uk-core:WithinOneYear 2022-09-30 02661917 uk-core:WithinOneYear 2021-09-30 02661917 uk-char:TotalUnrestrictedFunds 2022-09-30 02661917 uk-char:TotalUnrestrictedFunds 2021-09-30 02661917 uk-core:Buildings 2021-10-01 2022-09-30 02661917 uk-core:FurnitureFittings 2021-10-01 2022-09-30 02661917 uk-core:FurnitureFittings 2021-09-30 02661917 uk-core:Buildings 2021-09-30 02661917 uk-core:Buildings 2022-09-30 02661917 uk-core:FurnitureFittings 2022-09-30 02661917 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2021-10-01 2022-09-30 02661917 uk-char:TotalUnrestrictedFunds uk-char:MaterialFund1 2020-10-01 2021-09-30 02661917 uk-char:TotalUnrestrictedFunds 2020-10-01 2021-09-30 02661917 uk-char:MaterialFund1 uk-char:TotalUnrestrictedFunds 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure 02661917 uk-bus:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 02661917 uk-bus:FRS102 2021-10-01 2022-09-30 02661917 uk-bus:FullAccounts 2021-10-01 2022-09-30
(England and Wales)
Company number: 02661917
Charity number: 1009279
EAST GATE TRUST
For the year ended 30 September 2022
Report of the Trustees and Unaudited Financial Statements
2
For the year ended 30 September 2022
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 2022
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 2022. 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.
During the year the trust finally sold the parcel of land in Breckland to release funds to help the misson of the trust move forward
The trustees are supporting the development of the gardens as part of the Open Gardens Christian movement to open the gardens to
the public. They are working on landscaping the grounds and laying paths to the Mill
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
28 June 2023
Mr Peter Gillett Secretary
1 of 9
4
For the year ended 30 September 2022
EAST GATE TRUST
Statement of Financial Activities (including Income and Expenditure account)
2021
Unrestricted
funds
Notes
£
£
Income and endowments from:
Donations and legacies
892
470
2
Other income
88,889
-
3
Total
89,781
470
Expenditure on:
Charitable activities
(54,720)
(8,144)
4/5
Total
(54,720)
(8,144)
35,061
(7,674)
Net income/expenditure
Reconciliation of funds
Total funds brought forward
(3,942)
(11,616)
Total funds carried forward
23,445
(11,616)
2 of 9
5
02661917
Registered Number :
As at 30 September 2022
EAST GATE TRUST
Statement of Financial Position
£
£
Notes
2022
2021
Fixed assets
Tangible assets
7,276
11,652
10
7,276
11,652
Current assets
Stocks
120
120
11
196
196
12
Debtors
Cash at bank and in hand
54,167
69
54,483
385
Creditors: amounts falling due within one year
(38,316)
(23,652)
13
Net current assets
16,167
(23,267)
Total assets less current liabilities
23,443
(11,615)
Net assets
23,443
(11,615)
The funds of the charity
Unrestricted income funds
14
23,445
(11,616)
Total funds
23,445
(11,616)
For the year ended 30 September 2022 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:
28 June 2023
Mr Peter Gillett
3 of 9
6
For the year ended 30 September 2022
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).
Going concern
The trustees concider that the Trust is a going concern.
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
2021
2022
£
£
Unrestricted funds
Donations received
470
892
470
892
3. Other income
2021
2022
£
£
Unrestricted funds
-
88,889
Gains on disposal of heritage
assets
88,889
-
4 of 9
7
For the year ended 30 September 2022
EAST GATE TRUST
Notes to the Financial Statements Continued
4. Costs of charitable activities by fund type
2021
2022
£
£
Unrestricted funds
7,219
13,235
Provision of meeting facilites
925
41,485
Support costs
8,144
54,720
5. Costs of charitable activities by activity type
2021
2022
£
£
Activities undertaken directly
Provision of meeting facilites
16,892
8,144
Activity 2
37,828
-
54,720
8,144
6. Analysis of support costs
2021
2022
£
£
Governance costs
41,485
925
7. Net income/(expenditure) for the year
This is stated after charging/(crediting):
2022
2021
£
£
Accountancy fees
250
125
Financial advice
13
-
(Gain)/Loss on disposal of heritage assets
(88,889)
-
5 of 9
8
For the year ended 30 September 2022
EAST GATE TRUST
Notes to the Financial Statements Continued
8. Staff costs and emoluments
Total staff costs for the year ended 30 September 2022 were:
2022
2021
£
£
Pension costs
13
-
13
-
2022
2021
2
Trustee's
2
2
2
9. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
10. Tangible fixed assets
Plant and
machinery
Land and
buildings
Total
Cost or valuation
£
£
£
28,718
21,218
7,500
At 01 October 2021
3,932
3,932
-
Additions
-
(7,500)
Disposals
(7,500)
At 30 September 2022
-
25,150
25,150
Depreciation
17,066
17,066
-
At 01 October 2021
Charge for year
808
808
-
17,874
17,874
-
At 30 September 2022
Net book values
At 30 September 2022
At 30 September 2021
-
7,500
7,276
4,152
7,276
11,652
6 of 9
9
For the year ended 30 September 2022
EAST GATE TRUST
Notes to the Financial Statements Continued
11. Stocks and work in progress
2022
2021
£
£
Stock
120
120
120
120
12. Debtors
2022
2021
£
£
Amounts due within one year:
Other debtors
196
196
196
196
13. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1
(1)
Other creditors
38,065
22,230
Accruals and deferred income
250
1,423
38,316
23,652
14. Movement in funds
Unrestricted Funds
Balance at
01/10/2021
Incoming
resources
Outgoing
resources
Balance at
30/09/2022
£
£
£
£
General
(11,616)
89,781
(54,720)
23,445
General
(11,616)
89,781
(54,720)
23,445
7 of 9
10
For the year ended 30 September 2022
EAST GATE TRUST
Notes to the Financial Statements Continued
Unrestricted Funds - Previous year
Balance at
01/10/2020
Incoming
resources
Outgoing
resources
Balance at
30/09/2021
£
£
£
£
General
(3,942)
470
(8,144)
(11,616)
General
(3,942)
470
(8,144)
(11,616)
Purpose of unrestricted Funds
General
Supporting Thrigby Post Mill
15. Analysis of net assets between funds
Tangible fixed
assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
Unrestricted funds
General
7,276
16,167
23,443
General
7,276
16,167
23,443
Previous year
Tangible fixed
assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
Unrestricted funds
General
11,652
(23,267)
(11,615)
General
11,652
(23,267)
(11,615)
16. 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 2022
EAST GATE TRUST
Notes to the Financial Statements Continued
9 of 9