COMPANY REGISTRATION NUMBER: 2874157 CHARITY REGISTRATION NUMBER: 1029849 Vinelife Church Manchester Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 MArrocKS GRINDLEY Chartered Accountants 18 Mulberry Avenue Turnstone Business Park Widnes Cheshire WA8 OWN
Vinelife Church Manchester Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Directors, annual report (incorporating the directovs report) Independent examiner's report to the directors Statement of financial activities (including income and expenditure account) Ststement of financial position Statement of cash flows 10 Notes to the financial statements 11 The following pages do not fonn part of the financial ststements Detailed statement of financial activities 22 Notes to the detailed ststement of financial activities 24
Vinelife Church Manchester Company Limitsd by Guarantee Directors. Annual Report (Incorporating the Directorfs Report) Year ended 31 arch 2024 The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrativ¢ detsils Registered charity name Vinelife Church Manchester Charlty reglstration number 1029849 Company registration number 2874157 Prlnclpal offlce and registerod 1.10 Universal Square office Devonshire Street North Manchester M12 6JH England The directors Mr A N Shepherd Mr A Janse Van Vuuren Mrs G Owuamaegbu Mrs S Crawford Mr A Bostock Mr A Binitie (Retired 24 November 2023) (Retired 28 August 2023) (Retired 15 April 2023) Independent examiner Mr G Mattocks FCA 18 Mulberry Avenue Turnstone Business Park Widnes Cheshire WA8 OINN Structure, governance and management Vinelife Church Manchester is a Charitable Company Limited by Guarantee, governed by a Memorandum and Articles of Association. Overall direction and supervision of the activities of the Association is exercised by a Management Committee of 3 Directors including the Treasurer, Mr A J Van Vuuren. New Trustees are appointed by a consensus of current trustees. A process is being put in place to induct new trustees by formal external training along with review of internal processes and briefings of matters of significance. Trustees are in the process of introducing market based pay scales and a fomalised staff review process.
Vinelife Church Manchester Company Limited by Guarantse Directors. Annual Report (Incorporating the Director's Report) (c¢)ntlnued) Year ended 31 March 2024 Objectives and actlvlties Vlnellf• Church Manchesterfs Misslon Statement The stated aims of Vinelife Church Manchester are to promote the Christian religion and relieve povety. Our mission statement expands on those aims: Vinelife Church Manchester exists to.. Encounter God, Empower People and Engage Our City. Our Core activities are outlined below Below we have listed and described our core activities, where they are currently, what has been happening in the last year and where we are wanting things to develop on into the future. Everything we do as a church flows out of our mission statement (outlined above) and the aim of what we do is to see our vision statement fulfilled= Public Beneflt As a Church we aim for the majority of our work to be of benefit to the public. Financial support is made available for the provision of 'Grants and Gifts, to individuals and organisations committed to Christian work. Strat•gi¢ report The following sections for achievements and performance and financial review form the strategic report of the charty.
Vinelife Church Manchester Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Achievements and porformance General This has been a year of continued positive consolidation for Vinelife Church. The leadership team crafted a clear and concise vision and mission for the church which will enable key focus areas of prayer, teaching and ministry. In this year the organisational structure was reviewed and replaced with a fit for purpose operating model that will support growth and execution of missional goals. Sundays Sunday moming gatherings have continued at Burnage Academy for Boys. We able to host times of vibrant worship, bible teaching and prayer ministry, as well providing excellent input across our various groups for under 18s. The Sunday gatherings are well supported by volunteers and our church community shows a high level of engagement across all their aspects. The leadership team continues to assess the ongoing strategic value of meeting in Burnage, as we find it does offer some limitation with regard to some areas of ministry, but in general the space continues to work well for us. Project HomelBulldlng Sale The building at Ardwick Green was sold to the Churches Revitalisation Trust on October 26th and with it Project Home came to a close. Loadership We have continued to have a Leadership Team leading the Church (The Core leadership team). The CLT focusing on the vison and mission of the church supported by the board of Trustees who continue to ensure the charity is legally compliant and operating within its Memorandum of Articles of association as held by the Charity Commission. This year has seen the CLT alongside the Trustees oversee a staff restructure, the sale of the Ardwick Green Building and the continued pastoral oversight of the church community. As wejourneyed through the year 2 members of the CLT decided that they no longerwished to continue on the team and therefore stepped down. We saw out the year with a team of 3 on the CLT (one staff member and 2 volunteers) and a team of 3 on the Trustee team. We committed to recruit additional members to both teams in the year ahead. Overall this has been another year marked with change but we feel this last year has been focusing on the one piece of the church structure that had not been changed since the COVID pandemic and the leadership changes of 2021,. the staff structure. We now believe we have a staff structure, size and resour that fits with the church we are now and we are looking fOard to a year ahead where this new structure can begin to shape the future of the church: CLT, Trustees, Staff and Core leadership teams across the church community. Children's Ministry Our ministry to under 18s continues to be a major strength of our church community, with many who join and stay at the church citing that as a major reason. In addition to the excellent provision on Sunday mornings, we also have a group for older youth and for parents and babies that meet during the week. Additional Offerings For our 2023 Christmas Appeal, the focus for our church community was practically shopping for the contents of food hampers rather than a financial appeal. Seventy-six hampers were filled by the congregation (with an estimated total value of around £1900). Some people wanted to financially give instead, and we received £210 in gifts for the Christmas Appeal. Vinelife was able to give just over £10,000 to fund the remainder of the hamper contents, and supermarket vouchers, and we were able to support nearly 200 families across 11 schools. Compassion Ministry We continued to support the work of Barnabus a Manchester based Christian Charity working to
Vinelife Church Manchester Company Limitsd by Guarantee Directors. Annual Report (Incorporating the Director's Report) (continuodj Year ended 31 March 2024 alleviate homelessness across the city. A number of people from the church seNe as volunteers with them and we had a team of 2 people from Vinelife support a client on the Sustain project. We committed to reviewing our giving and made a commitment to look at other areas of compassion ministry that we could support in the city- This review would take place in the coming financial year. Alongside this we are committed to local and international mission as a church and again we committed to look at what this could look like in the year ahead. Pastoral Care Ministry Pastoral care in Vinelife revolves primarily around our weekly mid-week small groups which continue to offer a place for people to receive spiritual, emotional and practical support. In addition to small groups, we have designated pastoral opportunities for our young adults (see relevant section) and parents of small children, alongside creating a variety of space for people to deepen connection and have access to more ongoing support. We also have structures in place to allow us to support those with acute pastoral needs, such as serious illness, and can mobilised groups of people to wrap around those in our community when needed. In our budget for next year we have added a new 'Benevolence' line. which will allow us to be to able to help those in need more readily when required. Students Student ministry continued this year alongside a broader young adult ministry. The focus of the student team, led by the student worker, continued to be on prayer, campus outreach and events. The Alpha style, 'AWE' project was run by the team and allowed us to create a space for non-christians to hear the gospel and discuss spirituality in an informal setting. Our young adult gatherings continued monthly, with momentum building towards the planned launched of a weekly Sunday Night gathering. Campus Awakening The Campus Project is still able to be blessing to those working with students and young adults, although in a much smaller capacity to how it has done previously. Resource sales and the occasional small gift allow us the opportunity to keep the website running and also to support collaborative and missional projects, primarily in Manchester. Acknowlèdgement The Trustees would like to recognise and thank the many volunteers and workers involved in making church life and ministry happen, despite the number of challenges throughout the year.
Vinelife Church Manchester Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) fcontlnued) Year ended 31 March 2024 Financial review Flnanclal Overview The Ardwick building was sold in this financial year and gains from the sale have had a positive impact on the financial performance of Vinelife. With the financial constraints imposed by the ownership of Ardwick now removed, the church is able to deliver on its mission in a sustainable and cost effective manner. Giving The church community has continued to give sacrificially and generousty to the work of the Church. We are, as a church, committed to give away at least 100/0 of our donated income. We received a total of £288,277.88,£750.01 in gifts for the year of which £5,438.00 were 'Restricted' in their use and £282,839.88 which were, unrestricted (see note). The total giving for'Grants and Gifts, was £36,508.48 {12.910/o of the overall total of unrestricted donated income). The leadership team committed at the end of March 2023 to distribute the giving shortfall in that financial year and have successfully done so in this financial year. Staff The Vinelife Staff Team went through a full restructure this past year. The process initially began in response to the financial pressure caused by the delay in sale of Ardwick Green, however once the sale was completed it was deemed that it was in the strategic interest of the church to continue with a restructure. The new structure will see the team have the following new roles that come into effect on 1st April 2024.. Team Leader, Admin & Operations Lead, Connection Lead, Children & Families Lead, Youth Coordinator, Media Coordinator & Sunday Coordinator. Vthilst not a joint role, the same person will be taking the Youth and Media Coordinator roles. All roles have been filled by current members of the team, apart from the Sunday Coordinator which will require an external appointment. As part of the restructure, three members of staff were made redundant, Iwo of whom served out their notice period this year, with the otherfs notice period extending into May. Reserves Policy Vinelife Church Manchester relies extensively on the generosity of those committed to its stated vision, mission and purpose. Income flows by their nature can be unpredictable, however, the Vinelife Church Manchester has maintained its membership and income over recent years. The major commitments at this time are stsff noti and mortgage and loan repayments. The trustees have agreed a reserves policy as follows.. To ensure the financial viability of the Church and its ability to meet its ongoing commitments the charity will endeavour to maintain, on average, sufficient reseNes to cover all contractual obligations for one month and if possible up to three months. Risk Management The trustees and staff team at Vinelife have continued to review and strengthen financial and other procedures to ensure they reflect good practice. We have been working through all areas of church life undertaking written risk assessments and looking at how we operate at all our venues and have put in Pla a number of actions that redu risks. We are now in a position to be able to review these assessments and work to reduce risks all across the life of the church. We operate with a well thought through budget that we feel minimises our exposure to unnecessary financial risk.
Vinelife Church Manchester Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) (witlnuod) Year ended 31 March 2024 Plans for future perlods For the forthcoming period. the Church plans to continue to develop its organisational structure to adapt to a changing landscape. Dlsabled Employee8 In accordance with the charity's Equal Opportunity Policy, the Charity has an established fair employment practise in the recruibnent, sekction, retention and training of disabled staff. Golng Concern The impact of change in leadership and the sale of the Ardwick Green building have required particular care in managing cash flows. Cash reserves are, in part, held to allow the church to navigate through challenging times and a managed reduction in reserrfes along with overhead reductions have in the past year allowed cash flow to remain at acceptable levels. This process of maintaining stable reserves continues over the next 12 months. The charity's cost base continues to be monitored and adjusted accordingly to ensure reserves remain within limits required by our mortgage provider (Charity Bank). A very constructive relationship has been developed and maintained with Charty Bank and the trustees see no material uncertainties about the charity's ability to continue. The directors, annual report and the strategic report were approved on . on behalf the board of trustees by.. . and signed r A Janse Van Vuuren Director
Vinelife Church Manchester Company Limited by Guarantee Independent Examiner's Report to the Directors of Vinelife Church Manchester Year ended 31 March 2024 I report to the directors on my examination of the financial statements of Vinelife Church Manchester ('the charity,) for the year ended 31 March 2024. Responslbilities and basls of report As the directors of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not reqUId to be audited under Part 16 of the 2008 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Acf). 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 examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confinn that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. 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.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or the financial statements do not accord with those records,. or the financial statements 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 fairf view which is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance wtth 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. Mr G Mattocks FCA Independent Examiner 18 Mulberry Avenue Turnstone Business Park Widnes Cheshire WA8 OWN 12/1112F
Vinelife Church Manchester Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Investment income Other income 292,222 50,000 4,854 350,253 19,201 311,423 50,000 4,854 350,253 716,530 331,872 406 680 Total Income 697,329 19,201 332,958 Expendlturo Expenditure on charitable activities Total expenditure 9,10 452,980 18,772 471,752 372,445 452,980 18,772 471,752 372,445 Net incomel(expendlture) and not movement in funds 244,349 429 244,778 (39,487) Reconciliation of funds Total fvnds brought forward Total funds carrled forward 253,219 1,874 2,303 255,093 294,580 497,568 499,871 255,093 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activits'es. The notes on pages 11 to 20 forni part of these financlal statements.
Vinelife Church Manchester Company Limited by Guarantee Statement of Financial Positlon 31 March 2024 2024 2023 Notè Flxed assets Tangible fixed assets 17 20,427 2,010,325 Current assets Debtors Cash at bank and in hand 18 7N61 478,584 486,045 5,915 81.340 87,255 Creditors: amounts falling due withln one year Net current assets 19 6,601 18,092 479.444 69,163 Total assets less current Ilabilities 499,871 2,079,488 Credltorn: amounts falling due after more than one year Not assets 20 1,824,395 499.871 255,093 Funds ofthe charity Restricted funds Unrestricted funds 2.303 497,568 1.874 253.219 Total charlty funds 22 499,871 255,093 For the year ending 31 March 2024 the charty was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtsin an audit of its financial ststements for the year in question in accordance with section 476; The directors acknowledge their responsibiltties for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These fi ncial statements were approved by the board of trustees and authorised for issue on ¥lpnd are signed on behalf of the board by.. r A Janse Van Vuuren irector The notes on page8 11 to 20 fomi part of these financlal statements.
Vinelife Church Manchester Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from op•rating activities Net incomel(expenditure) 244,778 {39,487) Adjustments for Depreciation of tsngible fixed assets Other interest re1vable and similar income Gains on disposal of tangible fixed assets 10,593 (4,854 (350,253) 5,081 {406) (680) Changes in." Trade and other debtors Trade and other creditors 11,546) (457.491 1558,773) 1,411 (1,994) (36,075) Cash generated from operations Interest received 4,854 406 Net cash used in operating activities {553,919) (35,669) Cash flows from Investlng activities Purchase of tangible assets Proceeds from sale of tangible assets Net cash froml(used in) investing activities (21,8841 2.351,442 (2,870) 3,200 2.329,558 330 Cash flows from financing activities Proceeds from borrowings Net cash used in financing activities (1,378,395) (1,378,395) {822) (822) Net increasel(decrease) In cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equlvalents at end of year 397,244 81.340 {36,161) 117,501 478.584 81,340 The notes on pages 11 to 20 forni part of these financial ststements. 10
Vinelife Church Manchester Company Limited by Guarantse Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 1.10 Universal Squa, Devonshire Street North, Manchester, M12 6JH, England. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the ents'ty- Going concern There are no material uncertainties about the charity's abilty to continue. Judgements and koy sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng General funds are unrestricted funds available for use at the discretion of the directors in furtheran of the general objectives of the charity. Designated funds are unrestricted funds eamiarked by the directors for particular purposes. Restricted funds are subject to specific restrictive conditions imposed by donors or by the nature of the appeal. The purpose and use of the restricted funds are set out in the notes to the accounts. 11
Vinelife Church Manchester Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 A¢¢ounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity-, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Charitable activities - includes all expenditure directly relating to the objects of the charity (in accordance with SORP 2005) including any VAT which cannot be recovered and comprises the following: Grants payable - voluntary payments made in order to further the charity's objects. Support costs - costs relating to the running of the charity itself rather than its charitable objects, and comprises the following.. Governance costs - expenditure relating to the audit of the charity and any trustee meetings. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 12
Vinelife Church Manchester Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accounting policies (contlnued) Tanglble assets (contlnued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows- Equipment Motor Vehicles Equipment Cafe Equipment straight line over 5 years straight line over 5 years straight line over 5 years straight line over 3 years Impaimient of flxed assets Fixed assets are reviewed annually for impairment. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrumenL Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seNice is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Vvhen contributions are not expected to be settled wholty within 12 months of the end of the reporting date in which the employees render the related service. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee The charity is a company limited by guarantee, having no share capital. 13
Vinelife Church Manchester Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations Campus Awakening Grft Aid Income Non Gift Aid Income Gift Aid Tax Reclaimed Equipment Hire and Sales Student Merchandise Sales 1,241 12,787 5,173 2.202 215,936 33,988 48,383 10,786 128 203,149 28,815 48,383 10,786 128 292,222 19,201 311,423 Unrestricted Funds Restricted Total Funds Funds 2023 Donations Campus Awakening Gift Aid Income Non Gift Aid Income Gift Aid Tax Reclaimed Equipment Hire and Sales Student Merchandise Sales 954 201,309 22,277 51,632 20,149 2,347 14,218 18,986 3,301 215,527 41,263 51,632 20,149 296,321 35,551 331,872 Charitable activities Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Exclusivity and Licence funds 50,000 50,000 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Investment income and interest 4,854 4,854 406 406 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gain on disposal of tangible fixed assets held for charity's own use 350,253 350,253 680 680 14
Vinelife Church Manchester Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuedJ Year ended 31 March 2024 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Direct charitable activities Support costs 450,640 2,340 18,772 469.412 2,340 471,752 452,980 18.772 Unrestricted Funds Restricted Total Funds Funds 2023 Direct charitable activities Support costs 334,096 3,900 34,449 368,545 3,900 337,996 34.449 372,445 10. Expendlturo on charitable activities by actlvlty type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Direct charitable activities Governance costs 469,412 469,412 2,340 471,752 368,545 3,900 372,445 2,340 469,412 2,340 11. Anatysis of grants 2024 2023 Grants to Indlvlduals Outreach giving Total grants 48.130 29,911 48,130 29,911 12. Net incomel(expendlturn) Net incomel(expenditure) is stated after charging/(crediting): 2024 2023 Depreciats'on of tangible fixed assets Gains on disposal of tangible fixed assets 10,593 (350,253) 5,081 (680) 13. Independent examlnation fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements (1,878) {1,878) 15
Vinelife Church Mianchester Company Limited by Guarantee Notss to the Financial Statements (contlnued) Year ended 31 March 2024 14. Staff costs The average head count of employees during the year was 8 (2023.. 8). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 No. Number of staff - full time Number of other staff - part time No employee received employee benefits of more than £60,000 during the year (2023.. Nil). 15. Trustee remuneratlon and •xp•nses During the period under review, trustees received no remuneration nor expenses. 16. Transfers between funds Donations and grants received for a specific purpose are released from restricted funds to general funds as the specific expenditure occurs. 17. Tangible fixed assets Land and buildings Motor vehicles Equipment Total Cost At 1 April 2023 Additions Disposals At 31 March 2024 2.000,000 3,690 14,574 (3,690) 14.574 30,290 7,310 2,033.980 21.884 (2,003,690) 52,174 (2,000,000) 37,600 Depr•¢iation At 1 April 2023 Charge for the year Disposals At 31 March 2024 2,344 3,072 (2,501) 2,915 21,311 7,521 23,655 10,593 (2,501> 31,747 28,832 Carrying amount At 31 March 2024 11,659 8,768 20,427 2,010,325 At 31 March 2023 2,000,000 1,346 8,979 Ardwlck Gr•on North Depreciation is provided at a rate of O /0 on the building at Ardwick Green North. Carrying values are reviewed for impairment annually. 16
Vinelife Church anchester Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2024 18. Debtors 2024 2023 Trade debtors Other debtors - gift aid tax Other debtors - cyclescheme Other debtors 252 7,027 182 1,130 4,701 84 7,461 5,915 19. Creditors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Social security and other taxes 9,000 9,092 4.723 1,878 6,601 18,092 20. Credltors: amounts falling due after more than one year 2024 2023 Bank loans and overdrafts Other creditors 1,369,395 455,000 1,824,395 The other creditors represent interest-free loans made by supporters of the church. 21. Pensions and other post retirement benefits Defined contributlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,613 (2023.. £3,526). 17
Vinelife Church Manchester Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 22. Analys5s of charitable funds Unrestricted funds At 1 April 2023 At 31 March 2024 Income Expenditure General funds 253,219 697,329 (452,980) 497,568 At 1 April 2022 At 31 March 2023 Income Expenditu General funds 293,808 297,407 {337,996) 253,219 The General fund represents the free funds of the charity which are not designated for particular purposes. Restrictod funds At 1 April 2023 At 31 March 2024 Income Expenditure Restricted Funds 1,874 19,201 (18,772) 2.303 At 1 April 2022 At 31 March 2023 Income Expenditure Restricted Funds 772 35,551 (34,449) 1,874 18
Vinelife Church Manchester Company Limited by Guarantee Notes to the Financial Statements (continu•dJ Year ended 31 March 2024 22. Analysis of charitable funds (contlnued) Analysis of Restrlcted Funds At1Apr 2023 At 31 Mar 2024 Income Expenditure Transfers Christmas Appeal Mission Campus Project Project Home Weekend Away 301 5,117 1,417 990 11,376 (301) (5,269) {836) {990) {11,376) (18,772) 322 1,552 170 2,133 1.874 19,201 2,303 Year ended 31 March 2023 At1Apr 2022 At 31 Mar 2023 Income Expenditure Transfers Campus Project Christmas Appeal The Mission Project Home Weekend Away November Offering Total 2,716 6,615 7,515 1,864 11,641 5,200 (1,164) (6,615) (7,965) (1,864) {11,641) (5,200) (34,449) 1,552 772 322 772 35,551 1,874 Purposos of Restricted Funds Christmas Appeal.. donations towards families in need at Christmas time - The Mission.. support for The Mission as they work with orphans and vulnerable families in Mexico and Romania - Campus Project.. mission on university campuses Project Home.. building project - Weekend Away: donations and bookings ft)r the Vinelife Weekend Away 19
Vinelife Church Manchester Company Limitsd by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 23. Analysls of net assets betweon funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 20,427 483,742 (6,601) 20.427 486,045 16.601) 2,303 497,568 2,303 499,871 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year N•t assets 2,010,325 85,381 (18,092) {1,824,395) 253,219 2,010,325 87,255 (18,092) (1,824,395) 255,093 1,874 1,874 24. Financial Instruments Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 25. Analysis of changes in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand Debt due within one year Debt due after one year 81,340 397,244 {9,000) 9,000 (1,369,395) 1,369,395 (1,297,055) 1,775,639 478,584 478,584 20
Vinelife Church Manchester Company Limited by Guarantee Management Information Year ended 31 March 2024 The following pages do not forni part of the financial statements. 21
Vinelife Church Manchester Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Campus Awakening Gift Aid Income Non Gift Aid Income Gift Aid Tax Reclaimed Equipment Hire and Sales Student Merchandise Sales 2,202 215,936 33,988 48,383 10,786 128 3,301 215,527 41,263 51,632 20.149 311.423 331,872 Charitable activities Exclusivity and Licence funds 50,000 Investment income Investment income and interest 4,854 406 other income Gain on disposal of tangible fixed assets held for charity's own use 350,253 680 Total income 716,530 332,958 22
Vinelife Church Manchester Company Limited by Guarantee Detailed Statement of Financial Activities (contlnued) Year ended 31 March 2024 2024 2023 Expendlture Expenditure on charitable activities Wages and salaries Employerfs NIC Pension costs Rent Light and heat Repairs and maintenance Insurance Other motorltravel costs Legal and professional fees Telephone 141,448 5,698 2,613 4,635 2,718 2.181 26.723 3.648 106,842 488 166,180 8,886 3,526 2,840 3.088 9,022 13,121 2,647 5,538 956 F 11 other office costs Depreciation Church Activitieslevents Church Meeting Related Expenses Training Publicity Bank charges Mortgage Inte$t Grants paid Transfers to the Mission Equipment purchases 4,778 10,593 16,210 22,698 1,864 164 687 64,119 48,130 5,269 246 4,662 5,081 20,282 20,227 246 189 740 67,338 29,911 7,965 471,752 372,445 Total expenditure 471,752 372,445 Net incomel(expenditure) 244,778 (39,487) 23-
Vinelife Church Manchester Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expenditure on ¢harltable actlvltles Direct charitable activities Activities undertaken dlrectly Wages and salaries Employer's NIC Pension costs Rates Light and heat Repairs and maintenance Insurance Other motorltravel costs Direct charitable activity 1 legal and professional fees Telephone Other office costs Depreciation Church Activitieslevents Church Meeting Related Expenses Training Publicity Bank charges Mortgage interest Grants paid Transfers to the Mission Equipment purchases 141,448 5,698 2,613 4,635 2,718 2.181 26.723 3.648 104,502 488 4,778 10,593 16,210 22,698 1.864 164 687 64,119 48,130 5,269 246 166,180 8,886 3,526 2,840 3,088 9,022 13.121 2,647 1,638 956 4,662 5,081 20,282 20,227 246 189 740 67,338 29,911 7,965 469,412 368,545 Governance costs Governance costs - accountancy fees 2,340 3,900 Expenditure on charitable activities 471.752 372,445