**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:
- Broadening the leadership of the church
- Opening up new midweek groups
- Developing Sunday Church
- Improving our Social Media offering
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
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The 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:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- ii) The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
- Investment income represents income generated by the charity's assets and includes income from bank interest.
## 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.
- d) Fund accounting
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:
- a) received donations totalling £7,745 (2021: £9,776) from related parties (which includes trustees, anyone closely connected to them and key management).
- b) No expenses (2022: £nil) were paid to, or for, the trustees; reimbursements for expenses incurred when acting as agent for the charity or incurred when undertaking employment duties not connected with serving as a trustee are not included in this disclosure.
During the year the charity also made the following payments to, or for, related parties:
- a) Nick Griffin, who is a trustee, provided management support services totalling £nil (2022: £nil) to the charity.
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