REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE GARDEN GATE PROJECT LTD. |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE GARDEN GATE PROJECT LTD. |
THE GARDEN GATE PROJECT LTD. |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
THE GARDEN GATE PROJECT LTD. (REGISTERED NUMBER: 03753908) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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 Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
a. POLICIES AND OBJECTIVES |
The objectives of the Charity are to promote the preservation and safeguarding of mental health and the relief of persons suffering from mental disorders in association with the National Association of Mental Health. The charity also provides support for adults with learning disabilities. The Trustees have an agreement with Kent County Council to provide day support services. |
b. ACTIVITIES FOR ACHIEVING OBJECTIVES |
Our funding comes from the Garden Gate facility in Cliftonville. This now runs with regards to direct payments and outside resources ie. private donations, fund raising and grant applications. |
THE GARDEN GATE PROJECT LTD. (REGISTERED NUMBER: 03753908) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
a. KEY FINANCIAL PERFORMANCE INDICATORS |
As an organisation, when reviewing the activities we currently undertake we consider activities that reflect two needs - those of service participant and those of the charity. |
The charity has endeavoured to operate services which are purposeful for those who participate, striving to improve well-being and the fulfilment of some aspirations of participants whilst aiming to be a self-sufficient charity in a difficult economic climate. |
b. REVIEW OF ACTIVITIES |
During the year the Garden Gate Project (GGP) made a profit of £4,896.41 (2023 - £22,398.75). |
Total income for the year was £159,282.69 (2023 - £163,699.11) with expenditure of £154,386.28 (2023 - £141,300.36). |
Total income for the year reduced by £4,416 mainly due to donations reducing by £17,148. Client income, sales, grant income and bank interest all increased to partly offset this drop in funding. |
Total expenditure increased by £13,086 which is attributable to increased staffing costs; some of which is due to the costs of one employee being part-funded by a grant from Groundworks. |
Reduced profits, reduced income and increased expenditure compared to 2023 could be a cause for concern. However, when considering the bottom-line it is clear that the profit of £22,399 was an outlier and the 2024 profit is a reversion to mean. |
Fixed Assets |
Some costs are capitalised when such costs are (i) significant and (ii) are likely to be of value over a number of years. In accordance with GGP's accounting policies such costs are spread over four years. |
In the year ending 31 March 2024, the Garden Gate Project bought a container for £2,856. This cost has been capitalised. At the end of the year the book value of fixed assets was £4,619.18, comprising of: |
Wood Burner - purchased January 2021 |
Solar Panels - purchased November 2021 |
Solar Panels - purchased January 2023 |
Container - purchased August 2023 |
Funds |
The total funds represent the reserves available to GGP at any point in time. Such funds are either restricted or unrestricted. Restricted funds must be spent for a particular purpose. The restricted fund balance at the year end was £2,690.66, which is the money remaining from a grant by the Global Giving Fund to enable GGP to purchase solar panels. |
The total of all funds at the year end was £169,271.26 (2023 - £164,374.86) with the balance of £166,580.60 (2023 - £160,886.46) being unrestricted. |
Summary |
The GGP continues to generate more income than the expenditure it incurs. |
The profit for the year of £4,896.41 represents a normal year of trading with the 2023 profits being an outlier. |
The GGP now has substantial reserves and has moved closer to its key financial aim of being self-sufficient. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
THE GARDEN GATE PROJECT LTD. (REGISTERED NUMBER: 03753908) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Andrew Cannon |
Spurling Cannon |
Chartered Certified Accountants |
424 Margate Road |
Westwood |
Ramsgate |
Kent |
CT12 6SJ |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE GARDEN GATE PROJECT LTD. |
Independent examiner's report to the trustees of The Garden Gate Project Ltd. ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and 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. |
Andrew Cannon |
Spurling Cannon |
Chartered Certified Accountants |
424 Margate Road |
Westwood |
Ramsgate |
Kent |
CT12 6SJ |
Date: ............................................. |
THE GARDEN GATE PROJECT LTD. |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 164,374 |
THE GARDEN GATE PROJECT LTD. (REGISTERED NUMBER: 03753908) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 160,886 |
Restricted funds | 3,488 |
TOTAL FUNDS | 164,374 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
THE GARDEN GATE PROJECT LTD. (REGISTERED NUMBER: 03753908) |
BALANCE SHEET - continued |
31 MARCH 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE GARDEN GATE PROJECT LTD. |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
THE GARDEN GATE PROJECT LTD. |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Fundraising events |
Other incoming resources | 3,325 | 19,809 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Operational staff |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
THE GARDEN GATE PROJECT LTD. |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 137,858 | 4,118 |
TOTAL FUNDS CARRIED FORWARD | 160,886 | 3,488 | 164,374 |
7. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
Accrued income |
THE GARDEN GATE PROJECT LTD. |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Deferred income |
Accrued expenses |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/4/23 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 160,886 | 5,694 | 166,580 |
Restricted funds |
Global Giving Fund | 3,488 | (797 | ) | 2,691 |
TOTAL FUNDS | 4,897 | 169,271 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 147,523 | (141,829 | ) | 5,694 |
Restricted funds |
Groundworks | 11,381 | (11,381 | ) | - |
Global Giving Fund | - | (797 | ) | (797 | ) |
KCC Community Coffee Mornings | 378 | (378 | ) | - |
( |
) | (797 | ) |
TOTAL FUNDS | ( |
) | 4,897 |
THE GARDEN GATE PROJECT LTD. |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 137,858 | 23,028 | 160,886 |
Restricted funds |
Global Giving Fund | 4,118 | (630 | ) | 3,488 |
TOTAL FUNDS | 141,976 | 22,398 | 164,374 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 157,598 | (134,570 | ) | 23,028 |
Restricted funds |
Global Giving Fund | - | (630 | ) | (630 | ) |
Kickstarter Scheme | 6,102 | (6,102 | ) | - |
6,102 | (6,732 | ) | (630 | ) |
TOTAL FUNDS | 163,700 | (141,302 | ) | 22,398 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 137,858 | 28,722 | 166,580 |
Restricted funds |
Global Giving Fund | 4,118 | (1,427 | ) | 2,691 |
TOTAL FUNDS | 141,976 | 27,295 | 169,271 |
THE GARDEN GATE PROJECT LTD. |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 305,121 | (276,399 | ) | 28,722 |
Restricted funds |
Groundworks | 11,381 | (11,381 | ) | - |
Global Giving Fund | - | (1,427 | ) | (1,427 | ) |
Kickstarter Scheme | 6,102 | (6,102 | ) | - |
KCC Community Coffee Mornings | 378 | (378 | ) | - |
17,861 | (19,288 | ) | (1,427 | ) |
TOTAL FUNDS | 322,982 | (295,687 | ) | 27,295 |
11. | RELATED PARTY DISCLOSURES |