EXETER VINEYARD CHURCH (A company limited by guarantee)
UNAUDITED FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
EXETER VINEYARD CHURCH
UNAUDITED FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees’ Annual Report | 2-7 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11-17 |
EXETER VINEYARD CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
YEAR TO 31[ST] DECEMBER 2020
| CHARITY NAME | Exeter Vineyard Church |
|---|---|
| REGISTERED CHARITY NUMBER | 1052898 |
| REGISTERED COMPANY NUMBER | 03149728 |
| REGISTERED ADDRESS | 4 Wrentham Business Centre |
| Prospect Park | |
| Exeter | |
| Devon | |
| EX4 6NA | |
| CURRENT TRUSTEES | Mr D J Vinall |
| Mr C D Russell | |
| Mr M I Denton | |
| Mr S White | |
| Mr C Flannigan | |
| Mr S Johns | |
| Mrs S Low | |
| INDEPENDENT EXAMINER | Mr M B J Cronin MAAT FCIE |
| Bowhill Bookkeeping Services | |
| 172 Newman Road | |
| Exeter | |
| EX4 1PQ |
1
EXETER VINEYARD CHURCH REPORT OF THE TRUSTEES (INCLUDING REPORT OF THE DIRECTORS) FOR THE YEAR TO 31[ST] DECEMBER 2020
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[st] December 2020.
The financial statements have been prepared in accordance with the accounting policies set out on pages 11-13, the Memorandum and Articles of Association, the Charities Act 2011, the Statement of Recommended Practice: Accounting and Reporting by Charities Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the small Companies regime (section 419 (2) of the Companies Act 2006.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its governing document, memorandum and articles of association dated 14[th] July 2005 and as altered by a Special Resolution dated 27[th] August 2009. It constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. A board of trustees administers the charity and meets on a regular basis throughout the year.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives of the charity
The furtherance of religious or secular public education:
The advancement of the Christian faith including missionary activities in the United Kingdom and overseas and also including but not limited to the planting of new churches and organisations of congregations:
The relief of the poor and needy:
The relief of the sick and elderly:
Such other charitable objects and for the benefit of such other charitable bodies and institutions as the Committee shall in their absolute discretion see fit:
Organisational Structure
The trustees who served during the year and up to the date the report was approved are as follows:
Ms A Smeatham (Chair) (to 1[st] August 2020) Mr D J Vinall Mr P K Appleby (to 1[st] August 2020) Mr C D Russell Mr M I Denton Mr S White Mr C Flannigan (from 1[st] Sept 2020) Mr S Johns (from 1[st] Sept 2020) Mrs S Low (from 1[st] June 2021)
The power of appointing new trustees is vested in the surviving or continuing trustees.
Public Benefit
When planning our activities for the year, the trustees have considered the Charity Commission’s guidance on public benefit and in particular the specific guidance for charities on the advancement of religion for the public benefit and the relief of poverty for the public benefit. The trustees consider that the activities, summarised below, provide benefit to those who worship at our church, to the wider community in Exeter and indeed to the United Kingdom and the world.
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EXETER VINEYARD CHURCH REPORT OF THE TRUSTEES (INCLUDING REPORT OF THE DIRECTORS) FOR THE YEAR TO 31[ST] DECEMBER 2020
REVIEW OF ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE
Exeter Vineyard Church (EVC) is a community of just over 100 households. This includes the elderly, families with children of all ages, couples, young professionals, and students. The majority of households live within Exeter, but members also live in the surrounding towns and villages allowing EVC to reach beyond the Exeter City boundary.
During 2020 Exeter Vineyard Church (EVC) has had to meet the needs of its community within a world governed by the Covid-19 pandemic. Outlined below are our significant activities and developments throughout the year.
Sunday
Prior to 2019 the most visible activity of our church life was the Sunday service, which met at St Leonard’s Primary School. From March 2020 we were no longer able to meet in person and so like many other churches moved our services online. We experimented with a number of formats but settled on a short time of prayer and worship, updates about those church activities which were continuing, such as our involvement in feeding the homeless and vulnerably housed community and supporting struggling families, followed by a short bible- based message. Our existing YouTube channel was used to deliver the service alongside an app that allows interaction between the viewers. We hosted a Zoom video call after the online service for people who wished to join in and used breakout sessions to keep the groups small enough so they could discuss things that mattered and pray together. This has led us to have attendees from many parts of the UK and allowed one of our members who was stuck in Cyprus to take part. We have had many more people contribute than normal in our Sunday gatherings.
Our children’s volunteers produced specific materials for the children. Whilst this allowed many people to keep in touch with EVC it did not work for everyone, particularly our older members who are less technologically able. As a church we ensured that we kept in touch with those who wanted to via phone with members of staff and volunteers helping out.
We have a Safeguarding Policy that is annually reviewed. Sarah Vinall is our Safeguarding Coordinator and two Safeguarding Deputies aid her. Mr. Stephen White is our trustee responsible for safeguarding and he works with Sarah, meeting at least once a quarter through the year. The church is a member of ‘Thirtyoneeight’ formerly known as CCPAS (Churches Child Protection Advisory Service) who process our DBS checks, provide training, advise us on our Safeguarding Policy and provide phone support if and when issues arise.
Through the week
Prior to the start of the pandemic, we had restructured our mid-week groups with the formation of Hubs. Hubs were designed to be a place where the church members could support each other, their neighbours, their colleagues and perform community events helping fulfil the majority of our objectives. Our Hubs have, in line with government guidelines, continued to serve their communities where possible. They have been collecting food and prescriptions for people who are shielding or too afraid to go to the shops along with checking on neighbours to see if they need any other help.
Ongoing Activities to Benefit our Church Community
During the lockdown the church community was an important way to keep people connected. We worked hard to ensure people were able to access what we were doing, including burning DVDs for those unable to connect to online content.
Small groups and virtual book clubs enabled people to connect despite not being able to visit each other.
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EXETER VINEYARD CHURCH REPORT OF THE TRUSTEES (INCLUDING REPORT OF THE DIRECTORS) FOR THE YEAR TO 31[ST] DECEMBER 2020
Ongoing Activities to Benefit our Church Community (continued)
As in previous years, we help and support individuals and families in the church when they are struggling. This might include setting up meal rotas, visiting, lifts or other practical help. Often this is provided through our Hub system. Where appropriate we connect people with relevant services, sign-posting counselling (and helping to pay for it if necessary), meeting with and supporting people, or providing financial support.
This year because of the lockdown we found ourselves increasingly involved with some members of the church who are more vulnerable. One outcome of this has been connecting these individuals with social services to enable them to get professional support.
When it has been allowed by the Covid regulations we have run monthly activities for children in the church. These sessions have taken place in a Covid-secure community centre and have largely run around enabling the children to maintain friendships with their peers.
Ongoing Activities to Benefit the Wider Community
While providing activities and support to those members of our congregation we also do a number of outreach activities in order to have a positive impact on people outside of the church congregation. Where we have been able to within the prevailing government guidelines, we have kept these activities going as a priority for us.
We have a team of approximately 30 people from EVC running ‘Crosslines’ on a Monday night. Crosslines provides food and conversation for the homeless or vulnerably-housed in Exeter. Through this, we have formed trusting relationships with some of the guests that give them hope and encouragement. At Christmas, we put on a Christmas party where they can choose from a traditional Christmas menu and we provide waiter service.
We have partnered with Exeter Foodbank, a charity that provides emergency food parcels for people in crisis. We have supported them with financial donations. Several EVC members volunteer to help with collections at local supermarkets, sorting in the warehouse or distributing the food boxes.
‘RoundAbout’, which is a programme that provides good-quality, second-hand children’s clothes and equipment to families who cannot provide these items for themselves. Before the lockdown it would run several pop-up sessions at community events. During the lockdown it used Facebook to connect with people. This has met the needs of a number of families this year. Once finished with the items, guests are encouraged to donate them back so someone else can benefit from them.
Ongoing Activities with an International Impact
We have links with churches in India and teams from the church have visited the country a number of times. These trips are to build relationships, share experience and encourage one another. We have a special concern for activities that are helping the needy there. Exeter Vineyard Church are also part of a partnership of several UK Vineyard churches that connect with the Vineyard Church movement in India.
The church also gives grants to a number of individuals. We financially support Matt & Liz Wisbey, who work with literacy and education projects for developing countries, especially in Asia. They are now based in the UK, although Matt often travels.
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EXETER VINEYARD CHURCH REPORT OF THE TRUSTEES (INCLUDING REPORT OF THE DIRECTORS) FOR THE YEAR TO 31[ST] DECEMBER 2020
Ongoing Activities with an International Impact
We also financially support Daniel and Suzy Dugmore who lead YWAM (Youth With A Mission) base in Blantyre, Malawi. They are involved in supporting and developing Malawian young people and churches to reach out, especially with regard to development work.
During 2019 we worked with two other Exeter churches, Belmont Chapel, and Exeter Network Church, to enable a refugee family to move to Exeter through the Government’s Community Sponsorship scheme. The family of four arrived in Exeter in September 2019 and a number of volunteers from EVC have continued to support them. During 2021 we plan, with the other 2 churches, to sponsor a second family through the same scheme.
Staffing
Dave Vinall is employed full time as Senior Pastor. His role is to work with members of the church to develop the direction and activities of the church. He takes a pastoral lead for the members of the church and especially for the volunteer leaders.
Sarah Vinall is employed part-time as Senior Pastor. She is also our Safeguarding Coordinator, runs our Crosslines team and heads up our children’s groups. Sarah is involved in establishing new projects in the church and supporting their development and ongoing work. Sarah works 2.5 days a week.
Rachel Cock is our Operations Manager and works 2 days a week.
Adam Porter works 1 day a week as Assistant Pastor and continues to help support Dave in different aspects of church activity.
Ken Brown, our Finance Administrator, works one day a week.
Jacob Blackburn was employed from 22 October 2020 for 6 hours a week as video editor for the online services. This appointment was made by the trustees to reflect the change in the way we are currently able to do church.
Volunteers
Volunteers carry out the majority of activities in the church. These are members of the church who take responsibility to organise and run activities. This would include things connected to the Sunday service, such as the children’s groups, music and catering, as well as activities outside of the church. All activity related to Sunday services ceased at the point of lockdown in March 2020 and has not resumed.
We have a team of volunteer leaders who work with Dave and Sarah Vinall to organise and oversee activities. Throughout the year there are meetings for these leaders to train and support them. There are groups that meet throughout the year (consisting of staff and volunteer leaders) who meet regularly to plan and oversee the strategic direction of the church and its activities.
Property
At the beginning of 2020 our Sunday services were held in St. Leonard’s School. We hired the main hall and several additional rooms each Sunday. The venue was also used as a meeting place for leaders, for band practices and other small training sessions. This ceased at the point of lockdown in March 2020 and has not resumed. Where allowed by Covid-19 restrictions we have hired Covid-19 safe venues for use by our young people.
Since 2012 EVC has rented a property for office and storage near the city centre. We continue to use this space although since the lockdown staff and volunteers have mostly worked from home.
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EXETER VINEYARD CHURCH REPORT OF THE TRUSTEES (INCLUDING REPORT OF THE DIRECTORS) FOR THE YEAR TO 31[ST] DECEMBER 2020
Networking and Wider Involvement
We play an active role in the Vineyard denomination in the UK. Dave and Sarah have attended several meetings for Vineyard pastors in the South West and Wales region and we provide financial support to Vineyard Churches UK on a monthly basis. This is used for supporting church-plants, training leaders and community initiatives.
In February 2020 Dave and Jacob Blackburn attended the Vineyard National Leaders’ Conference in Nottingham.
Also, in February Dave and Adam Porter visited Switzerland to spend time with the leaders of Vineyard Churches in Olten and Wiggertal. These churches have been very helpful in coaching the leaders of EVC as we look to establish smaller communities within the wider church.
We also have good relationships with local churches through city-wide networks and are involved with cross-church initiatives. Nationally, we are members of the Evangelical Alliance.
Activities for Generating Funds
The vast majority of our funds are raised through donations and gift-aid claims. Everything donated is used to support the associated activities in-line with the charitable aims and objectives of Exeter Vineyard Church. During 2020 we have seen a slight drop in our income but have made significant savings on outgoings enabling us to increase our reserves. We did not make use of the furlough scheme which was available to us. We believe EVC remains very much a going concern.
Plans for the future
Our strategic aim for 2020 was to increase our positive impact on the community going beyond all the things we already do, encouraging more EVC members to play an active part. This was based around Hubs. Hubs are smaller church communities located within a particular neighbourhood where our members live, or in focus on a particular demographic. In the last 3 months of 2019, we prepared for this change by recruiting, training and equipping volunteers from within EVC to lead hubs ahead of the kick-off in January 2020. However, we were less than 3 months in when the Covid-19 pandemic made much of the aims of Hubs impossible due to the necessary restrictions on meeting together. Our Hubs have, in line with government guidelines, continued to serve their communities where possible. They have been collecting food and prescriptions for people who are shielding or too afraid to go to the shops along with checking on neighbours to see if they need any other help.
During 2021 we plan to move forward with our plans to have Hubs play a central part of our church. We believe that church can be a far more effective force both for members and the wider community when it is decentralised, with volunteer leaders enabling creative and relevant expressions. We plan to work to enable Hubs to thrive while maintaining a whole-church family.
Covid-19
The impact of the pandemic has touched almost every area of our activities but hasn’t stopped us doing what we think are the important aspects of church. We have been able to utilise new technology and creative solutions to ensure our sense of community, pursuit of our vision and encouragement in our faith continues.
There actually have been many positives from this experience, with the discovery of new ways to do things and the ability to rethink many practices which had become established to the point of ‘tradition’. We are looking forward to restrictions being lifted and being able to meet together but are also excited about new possibilities and opportunities that have emerged from living through the pandemic .
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EXETER VINEYARD CHURCH REPORT OF THE TRUSTEES (INCLUDING REPORT OF THE DIRECTORS) FOR THE YEAR TO 31[ST] DECEMBER 2020
FINANCIAL REVIEW
The charitable company made a surplus in the year of £23,029 (2019 – surplus £2,902). Total income decreased by 8.8% compared to 2019 with offerings and donations and the resultant gift aid decreasing by 3.9%. Conference/Event income was significant impacted by the various lockdowns from the Covid 19 pandemic.
Total expenditure decreased by 22%. Much of this reduction was due to the curtailment of activities because of the lockdowns from the Covid 19 pandemic.
The charitable company’s funds totalled £179,018 at 31[st] December 2020 of which £119,621 is restricted.
RESERVES POLICY
The charity seeks to retain cash reserves equivalent to 3 months operating costs, approximately £25,000. Unrestricted reserves (not including the designated fund) totalled £56,084 at 31[st] December 2020 of which £51,510 constitutes net current assets. This covers between 5 and 6 months unrestricted expenditure. The increase in reserves is due to the impact of the Covid 19 lockdowns. It is more than sufficient for current commitments but is under regular review by the trustees.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of Exeter Vineyard Church) are responsible for preparing the annual report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law the directors 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 charitable company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The directors 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 charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report, which have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies, was approved by the trustees on ……………………………and signed on their behalf by:
………………………………………………………….
Trustee Mark Denton
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| TOTAL FUNDS CARRIED FORWARD | TOTAL FUNDS BROUGHT FORWARD | RECONCILIATION OF FUNDS: | NET MOVEMENT IN FUNDS | TRANSFERS BETWEEN FUNDS | NET INCOME/(EXPENDITURE) | TOTAL | Charitable activities | EXPENDITURE ON: | TOTAL | Investment income: Bank interest | Charitable activities: Conference/Event income | Donations | INCOME FROM: | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| _ _ __ |
59,397 119,621 179,018 |
_ _ __ |
36,537 119,452 155,989 |
_ _ __ |
_ _ __ |
22,860 169 23,029 |
_ _ __ |
- - - |
22,860 169 23,029 |
_ _ __ |
121,153 143 121,296 |
_ _ __ |
10 121,153 143 121,296 |
_ _ __ |
144,013 312 144,325 |
_ _ __ |
50 312 362 |
2,731 - 2,731 |
9 141,232 - 141,232 |
Note £ £ £ |
Funds Funds 2020 |
Unrestricted Restricted Funds |
Total | YEAR ENDED 31 DECEMBER 2020 | |||
| __ | 36,537 |
__ | 32,742 | __ | __ | 3,795 | __ | 1,320 | 2,475 | __ | 155,122 | __ | 155,122 | __ | 157,597 | __ | 92 | 10,588 | 146,917 | £ | Funds | Unrestricted | |||||
| __ | 119,452 | __ | 120,345 | __ | __ | (893) | __ | (1,320) | 427 | __ | 245 | __ | 245 | __ | 672 | __ | 672 | - | - | £ | Funds | Restricted | |||||
| __ | 155,989 |
__ | 153,087 | __ | __ | 2,902 | __ | - | 2,902 | __ | 155,367 | __ | 155,367 | __ | 158,269 | __ | 764 | 10,588 | 146,917 | £ | 2019 | Funds | Total |
EXETER VINEYARD CHURCH
BALANCE SHEET
AS AT 31[st] DECEMBER 2020
| Note | At 31st | At 31st | |||
|---|---|---|---|---|---|
| December | December | ||||
| 2020 | 2019 | ||||
| £ | £ | £ | £ | ||
| FIXED ASSETS: | |||||
| Tangible assets | 4 | 4,574 | 3,881 | ||
| CURRENT ASSETS: | |||||
| Debtors | 5 | 2,877 | 3,264 | ||
| Cash at bank and in hand | 175,665 | 158,998 | |||
| _ | _ | ||||
| 178,542 | 162,262 | ||||
| LIABILITIES: | |||||
| Creditors: | |||||
| Amounts falling due within one year | 6 | (4,098) | (10,154) | ||
| _ | _ | ||||
| NET CURRENT ASSETS | 174,444 | 152,108 | |||
| __ | __ | ||||
| TOTAL NET ASSETS | 179,018 | 155,989 | |||
| __ | __ | ||||
| THE FUNDS OF THE CHARITY: | |||||
| Restricted Income Funds | 7 | 119,621 | 119,452 | ||
| Unrestricted Funds | 56,084 | 33,826 | |||
| Designated Fund | 8 | 3,313 | 2,711 | ||
| _ | _ | ||||
| 59,397 | 36,537 | ||||
| __ | __ | ||||
| TOTAL CHARITY FUNDS | 179,018 __ |
155,989 __ |
For the year ending 31[st] December 2020, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The notes on pages 11-17 form an integral part of these accounts.
Responsibilities of trustees
-
(a) The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act.
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(b) The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime and in accordance with FRS 102 SORP and were approved by the trustees on…………………………………… and signed on their behalf by:
.......................................................... Trustee Mark Denton
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EXETER VINEYARD CHURCH NOTES TO THE FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
1. ACCOUNTING POLICIES
a) Basis of Accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The financial statements have been prepared with the Statement of Recommended Practice: Accounting and Reporting by 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) – (Charities SORP (FRS 102)) and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). The financial statements have also been prepared with the Charities Act 2011 and the small Companies regime (section 419 (2) of the Companies Act 2006.
Exeter Vineyard Church meets the definition of a public benefit entity under FRS 102.
b) Tangible Fixed Assets
Assets costing less than £500 are not capitalised and are written off at the time of purchase.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost over their expected useful economic lifetime at the following rates.
Plant and Machinery - 25% per annum on reducing balance
c) Debtors and Prepayments
The gift aid debtor is recognised and included as income when there is a valid declaration from the donor. Prepayments are valued at the amount prepaid net of any trade discounts due.
d) Cash at bank
Cash at bank includes 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.
e) Creditors
Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
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EXETER VINEYARD CHURCH NOTES TO THE FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
1. ACCOUNTING POLICIES (continued)
f) Deferred Income
The charity included last year in creditors deposits received in advance for the New Wine conference and other conference income as deferred income. This year there was no deferred income. The following table shows the movement in the deferred income account.
| Balance Brought Forward Deposits received in advance in the year Deposits paid from previous year Balance Carried Forward |
2020 £ - - - __ - ____ |
2019 £ 172 - (172) __ - ____ |
|---|---|---|
g) Income
All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy.
Donations are recognised when received by or on behalf of the charity. Gift aid tax refunds and the gift aid small donations scheme are recognised on a receivable basis. Gift aid receivable is included in income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
h) Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
i) Expenditure
Expenditure is included on an accruals basis.
Charitable expenditure are costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
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EXETER VINEYARD CHURCH NOTES TO THE FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
1. ACCOUNTING POLICIES (continued)
j) The Funds of the Charity
Funds held by the charity are:
Unrestricted Funds
These are funds that are not subject to any restrictions regarding their use and are available for application within the charitable objects for the general purposes of the charity.
Designated Funds
These are funds that are earmarked by the trustees for specific purposes in the future. The trustees have the power to re-designate such funds within the unrestricted funds.
Restricted Income Funds
These are funds which can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when the funds are raised for particular purposes.
k) Financial Instruments
The charity only has financial assets and 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.
l) Going concern
The trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern.
2. LEGAL STATUS OF THE CHARITY
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
3. TAXATION
As a charity, Exeter Vineyard Trust is exempt from tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable purposes. No tax charges have arisen in the charity.
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EXETER VINEYARD CHURCH NOTES TO THE FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
4. TANGIBLE FIXED ASSETS
| Plant & Machinery Etc £ COST At 1 January 2020 49,098 Additions in the Year 2,217 _ 51,315 _ DEPRECIATION At 1 January 2020 45,217 Charge for year 1,524 _ At 31 December 2020 46,741 _ NET BOOK VALUE At 31 December 2020 4,574 _ At 31 December 2019 3,881 _ 5. DEBTORS Prepayments Accrued Income: Gift aid and GASDS tax refunds Other Debtors 6. CREDITORS: Amounts falling due within one year Taxation (PAYE) Other Creditors Accruals |
2020 £ 751 2,126 - __ 2,877 ____ 2020 £ 623 2,276 1,199 ______ 4,098 ______ |
2019 £ 751 2,319 194 __ 3,264 _ 2019 £ 534 8,405 1,215 10,154 ___ |
|---|---|---|
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EXETER VINEYARD CHURCH
NOTES TO THE FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
7. RESTRICTED FUNDS
| Fund Balances B/Forward £ Building Fund 118,702 PA Fund 750 _ Total Funds 119,452 _ NALYSIS OF FUNDS Fixed Assets Current Assets Current Liabilities Net Assets |
Fund Income Expenditure Balances C/Forward £ £ £ 312 - 119,014 - (143) 607 _ _ _ 312 (143) 119,621 _ _ _ Unrestricted Restricted Funds Funds £ £ 4,574 - 58,921 119,621 (4,098) - _ _ 59,397 119,621 _ _ |
Totals £ 4,574 178,542 (4,098) _ 179,018 _ |
|---|---|---|
ANALYSIS OF FUNDS
The building fund was established to provide some form of accommodation for the church. No suitable accommodation has yet been found. The fund continues to accumulate small amounts of interest. At the year-end a balance of £119,014 was held in a COIF deposit account.
A balance of £750 from monies raised for PA equipment was brought forward from the previous year. A further £143 was spent in the year leaving a balance carried forward of £607 to be spent on PA equipment in future years.
8. DESIGNATED FUND
A fund has been established by the trustees to provide financial support for sabbaticals for the church pastors. Monies have been transferred to a separate bank account set up for this purpose and this amounted to £3,313 at 31[st] December 2020.
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EXETER VINEYARD CHURCH NOTES TO THE FINANCIAL STATEMENTS
YEAR TO 31[ST] DECEMBER 2020
11. CHARITABLE GIVING
The charity made gifts and donations to 8 organisations totalling £10,623 and gifts to individuals totalling £3,967 during the year. Total charitable giving amounted to £14,590.
12. EMPLOYMENT COSTS
Total remuneration for the year amounted to £55,280. Gross salaries amounted to £53,299. Employer NIC amounted to £770 net of the £4,000 employment allowance.
Employer pension payments amounted to £1,211.
There were no employees with remuneration above £60,000.
The average number of employees for the year was 6. (2019– 5).
13. TRUSTEES’ REMUNERATION AND EXPENSES
During the year D J Vinall was paid a gross salary of £21,726 (2019 - £22,907), pastoral rent and council tax of £16,991 (2019 - £15,865) and pension contributions from the charity of £892 (2019 – £946). Income protection insurance was also provided for Dave Vinall costing £419.
D J Vinall was appointed as trustee on 9 October 2005 and is continuing to receive a salary in respect of his position as senior pastor as permitted by the company's memorandum of association and by the Charity Commission.
The trustees’ insurance includes trustee indemnity insurance.
No further remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee/director or any person or persons known to be connected with any of them.
There were no trustees' expenses paid for the year ended 31 December 2020, nor for the year ended 31 December 2019.
14. RELATED PARTY TRANSACTIONS
Sarah Vinall, wife of trustee, D J Vinall was paid a gross salary of £15,611 (2019 - £15,304) and pension contributions from the charity of £282 (2019 - £253).
15. ACCOUNTING AND INDEPENDENT EXAMINATION
£1,200 was paid for the charity’s independent examination in the year which included an element for accounts preparation.
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