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2023-03-31-accounts

London Life Vineyard Church Limited (A charitable company limited by guarantee) Formerly North London Vineyard Church

Charity Registration Number: 1063610 Company Registration Number: 03396157

Report & Financial Statements For the year ended 31 March 2023

London Life Vineyard Church

(A charitable company limited by guarantee)

COMPANY INFORMATION

Directors, Trustees Annan L V Chair Crellin M Resigned 13/06/2023 Griffin N Martins R Secretary N Griffin Company Registration Number 03396157 Charity Registration Number 1063610 Principal and Registered Office 7 Priory Road Hornsey N8 8LH Independent Examiner Richard Otuorimuo Tabuke Consulting Limited 17 Cherry Orchard Road West Molesey Surrey KT8 1QZ Bankers Barclays Bank plc Muswell Hill & Crouch End LONDON N10

CONTENTS

Page
Company Information 1
Report of the Directors 2-4
Independent Examiners’ Report 5-6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9-14

Page 1

London Life Vineyard Church Limited (Registered No. 03396157)

(A charitable company limited by guarantee)

DIRECTORS’ REPORT

For the Year Ended 31 March 2023

The trustees, who are the charity's directors for the purposes of company law, submit their report and financial statements for the year ended 31 March 2023.

Objects of the charity and review of the principle activities

The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The principle activities of the company are the furtherance of education, the advancement of the Christian faith and the relief of those in need. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

Policy and operating decisions of the charity rest with the trustees.

The trustees met during the year to agree the annual budget, discuss operational activity and to monitor the financial position. The majority of the ministries in the church are led and undertaken by volunteers.

Review of the year

This year has been focused on:

We are delighted that we now have strong leadership team who meet bi-monthly to review progress, develop future plans and allocate resources.

We have started 3 new midweek groups as well as putting on an alpha course. Sunday church has grown and developed with more attendees, more established kids ministry, a larger set up team with more established processes.

We have employed a part time Social Media Manager who is developing an offering distinctive to London Life Vineyard

and increasing connection with people interested in the church.

Future Developments

The church will focus on meeting new people, getting to know them, and involving them in church/other events where appropriate.

We want to develop communities in Crouch End/Hornsey and Tottenham/Wood Green whilst being open to develop a community in Stroud Green if there is interest from people in that area.

Page 2

London Life Vineyard Church Limited (Registered No. 03396157) DIRECTORS’ REPORT (continued) For the Year Ended 31 March 2023

Underpinning all of this is a passion to equip every individual who crosses our path to enjoy and express God to others every day of their lives.

Principal Policies

Reserves Policy

The aim of the charity is to maintain a level of reserves equal to 3 months operating costs in a distinct savings account. At the end of 2021/22 the balance of this account was below the aim, against a target of £6,750. However overall, the charity complies with the target level, with unrestricted free net assets of £11,605, of which £7,735 is cash.

Children and Vulnerable Adults Policies

The Directors implemented and monitored policies for the protection of Children and Vulnerable Adults during the year in line with best practice. The policies are monitored at each Directors meeting.

Other Policies

In line with Charity Commission guidelines the Directors have developed and monitor the following policies: Volunteers Policy, Handling Complaints Policy, Expenses Policy, Conflict of Interest Policy, Risk Management Policy, Lone Worker Policy, Staff Pay Policy, Anti Money Laundering Policy.

Risks

Financial Risks

The charity is reliant on the generosity of the church members. The directors/trustees therefore in their reviews ensure that committed expenditure does not exceed the expected income. During the year expenditure has been lower than income, resulting in a higher cash balance than starting the year.

Financial Review

The financial statements set out on pages 7-14 show an increase in income to £25,772 (2021/22 – £23,265), and a decrease in expenses to £25,702 (2021/22 - £27,087). The General Fund then finished with a surplus for the year of £70 (2021/22 – deficit of £- 3,822).

This then left General Funds at the year-end of £11,676 (2021/22 - £11,605).

Reporting Accountants

Tabuke Consulting Limited prepared and reviewed the Charity’s accounts.

Small Companies Exemption

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies as well as the Financial Reporting Standard for Smaller Entities (effective April 2008).

Page 3

London Life Vineyard Church Limited (Registered No. 03396157) DIRECTORS’ REPORT (continued) For the Year Ended 31 March 2023

Responsibilities of trustees under company law

The trustees are responsible for preparing the trustees' annual 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 year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the directors on 22 November 2023 and signed on their behalf by:

N Griffin Director

Page 4

Independent Examiner’s Report to the Trustees of London Life Vineyard Church Limited

(‘the Company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023 on pages 7 to 14 following, which have been prepared on the basis of the accounting policies set out on pages 9 to 10.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

Page 5

Independent Examiner’s Report (continued) to the Trustees of London Life Vineyard Church Limited

(‘the Company’)

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.

Richard Otuorimuo Tabuke Consulting Limited 17 Cherry Orchard Road West Molesey Surrey KT8 1QZ

Date: 24 November 2023

Page 6

LONDON LIFE VINEYARD CHURCH LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH

COMPARATIVES FOR THE YEAR ENDED 31 MARCH 2023

Note
INCOME AND ENDOWMENTS
FROM:
Donations
3
Investments
Other income
Total income and endowments
EXPENDITURE ON:
Charitable activities:
4
Total Expenditure
Net income/(expenditure)
Transfers between funds
11
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11		 General
2023
£
20,099
-
5,673
25,772
25,702
25,702
70
-
70
11,606
11,676		 Restricted
2023
£
-
-
-
-
-
-
-
-
-
-
-		 Total
2023
£
20,099
-
5,673
25,772
25,702
25,702
70
-
70
11,606
11,676		 General
2022
£
18,654
4,611
23,265
27,087
27,087
(3,822)
-
(3,822)
15,428
11,606		 Restricted
2022
£
-
-
-
-
-
-
-

-
-
-
-		 Total
2022
£
18,654
4,611
23,265
27,087
27,087
(3,822)
-
(3,822)
15,428
11,606

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006. The notes on page 9 - 14 form part of these accounts.

Page 7

LONDON LIFE VINEYARD CHURCH LIMITED BALANCE SHEET

AS AT 31 MARCH 2023

Unrestricted
Restricted
Funds
Funds
Note
£
£
FIXED ASSETS
Tangible assets
6
0
-
0
-
CURRENT ASSETS
Debtors
7
5,48
0
-
Cash at bank and in hand
8
7,671
-
13,15
1
-
CREDITORS: Amounts falling
due within one year
9
(1,475)
-
Net current assets / (liabilities)
11
,676
-
Total assets less current liabilities
11,67
6
-
TOTAL NET ASSETS
11
,676
-
FUND BALANCES
1
1
Unrestricted Funds
General funds
11
,676
-
11,67
6
-
Restricted Funds
-
-
11
,676
-

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 November 2023 and were signed on its behalf by:

Page 8

N Griffin Leonette Annan Director Chair Trustees

Company 339615 Charity 1063610 number: 7 number: The notes on page 9 - 14 form part of these accounts.

Page 9

LONDON LIFE VINEYARD CHURCH LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31

MARCH 2023

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance 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) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount

receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations includes:

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

Page

LONDON LIFE VINEYARD CHURCH LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31

MARCH 2023

2 Accounting Policies (continued)

e) Tangible fxed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £400 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight-line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Equipment

Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Taxation

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

g) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).

h) Exemption from preparing a cashfow

statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

i) Critical accounting estimates and areas of judgment

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations

Donations of cash and similar
Other grants receivable
Income tax recoverable
4
Charitable expenditure
a
Costs incurred directly on specifc
activities
Stafng (note 5)
Efective Management (Note 4b)
Equipping disciples
Leadership development
Outreach
Online Activity
Grants payable (note 4c)
Total expenditure		 2023
£
20,099
-
5,673
 2022
£
18,654
-

4,911
23,265
2022
£
8,480
4,804
1,577
235
10,570
760
720

27,087
25,772
2023
£
7,758
4,551
4,631
876
7,924
698
660

25,702

Page

LONDON LIFE VINEYARD CHURCH LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

4
Charitable expenditure (Efective
Management)
b
Costs incurred on support & administration
Ofce costs
Subscriptions and professional services
Bank charges
Bad Debts Written of
Insurance
Depreciation of equipment
Other general expenses
Governance costs
Independent examiner's fee
Total expenditure		 2023
£
-
1,935
-
452
172
1,126
366
500
4
,551		 2022
£
179
-
0
408
86
1,781
1,850
600
4
,804

The fee payable to the independent examiner for preparing and examining the accounts was £500 (2022: £600) in addition the charity paid £500 (2022: £600) to Stewardship for payroll bureau and consultancy services.

c Grants payable

Institutions
Individual
s
£
£
Grants for Vineyard Churches UK&I
660
-
Other Grants
-
660
-
The comparatives for the previous year are as
follows:
Institutions
Individual
s
£
£
Grants for Vineyard Churches UK&I
720
-
Other Grants
0
-
720
-		 2022
£
660
-
660
2021
£
720
0
720

5 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

The average monthly number of employees during the year was 1 (2022: 1). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

Nick Griffin, a trustee, served as the church leader and received total employment benefit, in the form of gross salary, of £7,758 (2022: £7,792) for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.

No other trustees or key management received employment benefits in either the current or preceding year.

Page

LONDON LIFE VINEYARD CHURCH LIMITED NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

6 Tangible fixed assets

Fixtures,
fttings and
equipment
£
Cost
At 1 April 2022
431
Additions
-
At 31 March 2023
431
Accumulated depreciation
At 1 April 2022
172
Charge for the year
172

At 31 March 2023
431
Net book value
At 31 March 2023
0

At 1 April 2022
173

7
Debtors
2023
£
Falling due within one year:
Tax recoverable
0
Other debtors
-
Prepayments and accrued income
-
Loans receivable
3,000
3
,000

8
Cash at Bank and in Hand
2023
£
Cash at bank with immediate access
427
9
Creditors: liabilities falling due within one year
2023
£
Accruals and Trade Creditors
1,475		 Fixtures,
fttings and
equipment
£
Cost
At 1 April 2022
431
Additions
-
At 31 March 2023
431
Accumulated depreciation
At 1 April 2022
172
Charge for the year
172

At 31 March 2023
431
Net book value
At 31 March 2023
0

At 1 April 2022
173

7
Debtors
2023
£
Falling due within one year:
Tax recoverable
0
Other debtors
-
Prepayments and accrued income
-
Loans receivable
3,000
3
,000

8
Cash at Bank and in Hand
2023
£
Cash at bank with immediate access
427
9
Creditors: liabilities falling due within one year
2023
£
Accruals and Trade Creditors
1,475		 Total
2023
£
431
-
431
172
86
258

173
259
2022
£
2,083
-
-
172

431
0

173

2023
£
0
-
-
3,000

3
,000

2023
£
427
2023
£
1,475
2,083
2022
£
427
2022
£
1,475

10 Pension commitments

During the year employer’s pension contributions totalling £nil (2022: £nil) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2022: £nil).

Page

LONDON LIFE VINEYARD CHURCH LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

11 Funds

During the year the movements in the charity's funds were as follows:

General Unrestricted Funds
Restricted Funds
Storehouse fund
Aggregate of funds		 Opening
balance
2023
£
11,605
-
11,605		 Incoming
resources
2023
£
25,77
2
-
25,77
2		 Outgoing
resources
2023
£
(25,702)
-
(25,702)		 Transfers
in the
year
2023
£
-
-
-		 Gains and
Closing
losses
balance
2023
2023
£
£
-
11,67
6
-
-
-
11,67
6

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fxed assets
Debtors
Cash at bank and in hand
Creditors falling due within one
year
In the previous year the movements in the charity's funds
follows:
Opening
Incoming
balance
resources
2022
2022
£
£
General Unrestricted Funds
15,428
23,26
5
Restricted Funds
Storehouse fund
-
-
Aggregate of funds
15,428
23,26
5		 were as
Outgoing
resources
2022
£
(27,087)
-
(27,087)		 General
funds
£
0
5,481
7,671
(1,475)
11,67
6
Transfers
in the
year
2022
£
-
-
-		 Restricted
funds
£
-
-
-
-
-
Gains and
losses
2022
£
-
-
-		 2023
£
0
5,481
7,671
(1,475)
11,67
6
Closing
balance
2022
£
11,60
5
-
11,60
5

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fxed assets
Debtors
Cash at bank and in hand
Creditors falling due within one
year		 General
funds
£
179
5,072
7,735
(1,475)
11,60
5		 Restricted
funds
£
-
-
-
-
-		 2022
£
179
5,072
7,735
(1,475)
11,60
5

Page

Paoè

LONDON LIFE VINEYARD CHURCH LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

12 Transactions with related parties

During the year the charity:

During the year the charity also made the following payments to, or for, related parties:

Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.

13 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

Page