Registered number:
07641210
Charity number:
1143514
THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the Company, its Trustees and advisers
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Statement of financial activities
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Notes to the financial statements
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2021
Company registered number
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Charity registered number
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Kingsridge House
601 London Road
Westcliff-On-Sea
Essex
SS0 9PE
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MWS
Chartered Accountants
Kingsridge House
601 London Road
Westcliff-on-sea
Essex
SS0 9PE
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Page 1
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their annual report together with the financial statements of the Company for the 1 April 2020 to 31 March 2021. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The charity's objectives are:
To promote social inclusion for the public benefit by preventing people from becoming socially excluded,
relieving the needs of those people who are socially excluded and assisting them to integrate into society.
For the purpose of the above object 'socially excluded' means being excluded from society, or parts of society,
as a result of one or more of the following factors: unemployment, financial hardship, youth or old age; ill health
(physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the
grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment;
poor education or skills attainment; relationship and family breakdown; poor housing (that is housing that does
not meet basic habitable standards); crime (either as a victim of crime or as an offender rehabilitating into
society).
To help young people especially but not exclusively through leisure time activities, so as to develop their
capabilities that they may grow to full maturity as individuals and members of society
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Main activities undertaken to further the Company's purposes for the public benefit
The Thames Gateway Foundation uses the power of sport to improve fitness and well being and raise the
aspirations of young people across east London.
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the
public benefit guidance provided by the Charity Commission.
Page 2
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
Achievements and performance
a. Review of activities
The Thames Gateway Foundation has delivered educational and multi-sports programmes for inactive and disadvantaged young people across east London since 2011 through grant funding from charities and Sport England.
In 2020/21 due to Covid 19 the charity decided to suspend its activities. The charity has concentrated its work in recent years to the most disadvantaged young people and particularly young people with special needs. The charity and its partner Little Heath School both decided the risk to these young people was too high in a global pandemic for additional after school activities.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
At the year end the charity had restricted funds of £1,664 (2020: 1,853), unrestricted funds of £1,950 (2020: £1,942) and restricted fixed asset reserves of £482 (2020: £682).
All funds received by the charity in the year and not spent are held as reserves, to be used for expenditure after
the year end in relation to administration of the charity and delivery of its projects. The level of reserves is currently considered by the trustees to be appropriate for the charity and will be reviewed annually, as well as
being monitored over the course of the year to ensure appropriate use of reserves
Structure, governance and management
a. Constitution
Thames Gateway Foundation is registered as a charitable company limited by guarantee number 7641210 and was constituted by a Memorandum of Assocation on 18 May 2011 and is a registered charity number 1143514.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Board of Trustees has the power to appoint and remove trustees on a majority basis, with the chairman having a deciding vote where necessary.
Plans for future periods
The charity intends to continue with its project development work and multi-sports programmes.
Funds held as custodian
The charity does not hold, and does not expect to hold, any funds as custodian.
Page 3
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. 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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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on
22 November 2021
and signed on their behalf by:
N P Kleinfeld
Chair of Trustees
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Page 4
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
ACCOUNTANTS REPORT TO THE BOARD OF TRUSTEES
In order to assist the trustees to fulfil their duties under the Companies Act 2006, the accountants have compiled the financial statements which cmprise the Statement of Financial Activities, the Balance Sheet and related notes, from the accounting records and information and explanations supplied by you.
We are a member firm of the Institute of Chartered Accountants in England and Wales and are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made to the charity's Board of Trustees as a body in accordance with the terms of the engagement. An explanation as to the work carried out being in accordance with the requirements of ICAEW guidance and the purpose of the work and that, to the fullest extent permitted by law, no responsibility will be accepted for the work or the report to anyone other than the charity or the charity's Board of Trustees, as a body.
The Trustees have acknowledged their duty to ensure that the charity has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of the charity and that they consider that the charitable company is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the accounts of the company and that for this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations given to us and we do not, therefore, express any opinion on the statutory accounts.
MWS
Date:
Page 5
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2021
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Total funds brought forward
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Total funds carried forward
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The Statement of financial activities includes all gains and losses recognised in the year.
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The notes on pages 8 to 15 form part of these financial statements.
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Page 6
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
REGISTERED NUMBER:
07641210
BALANCE SHEET
AS AT 31 MARCH 2021
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Total assets less current liabilities
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Net assets excluding pension asset
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Restricted fixed asset funds
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The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on
22 November 2021
and signed on their behalf by:
N P Kleinfeld
Chair of Trustees
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Page 7
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Thames Gateway Foundation is a charity and private company limited by guarantee and incorporated in England and Wales.
Its registered address is Kingridge House, 601 London Road, Westcliff-on-Sea, Essex, SS0 9PE.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Thames Gateway Foundation 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.
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Items included in charitable activities are costs incurred on the charity's sport programmes.
Administration costs are allocated as allowed per the terms of the grants.
Page 8
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
2.
Accounting policies (continued)
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Tangible fixed assets and depreciation
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Tangible fixed assets costing £
NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Fixtures, fittings and equipment
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Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 9
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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Income from donations and legacies
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Analysis of expenditure on charitable activities
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Page 10
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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Analysis of expenditure by activities
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Activities undertaken directly
2021
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Printing, postage, and stationery
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Analysis of support costs
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Page 11
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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Trustees' remuneration and expenses
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During the year, no Trustees received any remuneration or other benefits
(2020 - £NIL
)
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During the year ended 31 March 2021, no Trustee expenses have been incurred
(2020 -
£
NIL
)
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Fixtures, fittings and equipment
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Prepayments and accrued income
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Page 12
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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Statement of funds - current year
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Balance at 1 April 2020
£
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Balance at 31 March 2021
£
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Restricted fixed asset funds
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Assets purchased from grants
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Page 13
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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Statement of funds (continued)
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Statement of funds - prior year
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Balance at
1 April 2019
£
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Balance at
31 March 2020
£
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Sports England Awards for All
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Restricted fixed asset funds
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Assets purchased from grants
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Summary of funds - current year
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Balance at 1 April 2020
£
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Balance at 31 March 2021
£
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Restricted funds - Class II
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Page 14
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THAMES GATEWAY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
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Summary of funds (continued)
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Summary of funds - prior year
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Balance at
1 April 2019
£
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Balance at
31 March 2020
£
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Restricted funds - Class II
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Analysis of net assets between funds
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Analysis of net assets between funds - current year
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Restricted fixed asset funds
2021
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Analysis of net assets between funds - prior year
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Restricted fixed asset funds
2020
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Related party transactions
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The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2021.
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Page 15
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