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2020-08-31-accounts

aylesburv vineyard Annual report and financial statements Aylesbury Vineyard Church Ltd formerly known as Vale of Aylesbury Vineyard Christian Fellowship Period ended 31 August 2020 Registered company no. 03424117 Registered charity no. 1064215

Contents

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Contents

Legal & administrative information 2
Trustees’ annual report 3
Independent examiner’s report 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12

Registered company no. 03424117 Registered charity no. 1064215

1

Aylesbury Vineyard Church Ltd formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Legal & administrative information

Legal & administrative information

Charity name Aylesbury Vineyard Church Ltd - formerly known as Vale of Aylesbury Vineyard Christian Fellowship Aylesbury Vineyard Church Ltd - formerly known as Vale of Aylesbury Vineyard Christian Fellowship
Charity registration no. 1064215
Company registration no. 03424117
Registered office The Vineyard Centre
Gatehouse Close
Aylesbury
Buckinghamshire
HP19 8DN
Trustees James Tweats Chair/Senior Pastor (appointed 6 September 2020)
Stephen Burnhope Chair/Senior Pastor (resigned 6 September 2020)
Austin Awadzi (resigned 6 September 2020)
Elizabeth Cartwright
Georgia Gasson (appointed 6 September 2020)
Paul Gunaselvam (appointed 6 September 2020)
Laura Michel (appointed 9 June 2020)
Richard Snaith
Rachel Tweats (resigned 8 June 2020)
Senior Pastors James Tweats (appointed 6 September 2020)
Stephen Burnhope
(retired 6 September 2020)
Lyn Burnhope (retired 6 September 2020)
Independent examiner Haines Watts Chartered Accountants
4 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF
Accountants Andy Nash Accounting & Consultancy Ltd
Units 24 & 25
Goodsheds Container Village
Hood Road, Barry
CF62 5QU
Principal bankers Lloyds Bank plc.
25 Gresham Street
London
EC2V 7HN

Registered company no. 03424117 Registered charity no. 1064215

2

Trustees’ annual report

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Aylesbury Vineyard Church Ltd

Trustees’ annual report

The Board of Trustees, who are also Directors of the Charity for the purposes of the Companies Act, and Trustees for charity law purposes, submit their annual report and the financial statements of Aylesbury Vineyard Church Ltd for the period ended 31 August 2020. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charity Act 2011, as well as the requirements of the Charity's governing document and the provisions of the ‘Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition (effective 1 January 2020)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.

The Trustees have referred to the Charity Commission’s guidance on public benefit when reviewing the Charity’s objectives and activities, and when planning activities.

Objects and activities

The objectives of Aylesbury Vineyard Church as set forth in our Articles of Association may be summarized as the furtherance of Christian faith and the compassionate relief of those in need. We carry out those activities primarily through our activities as a Church (such as the provision of Sunday services) and through our Storehouse arm.

Achievements and performance in 2020

Church

In Church terms, we usually offer two Sunday morning services most weeks of the year, which are identical in content and differ only in their start times (9.30am and 11.15am). Running alongside the services are supervised activities for children (‘Vineyard Kids’) aged 12 months and above and youth up to age 18 (‘Vineyard Youth’).

However, due to the COVID-19 pandemic this year all Church services, including Vineyard Kids & Youth have temporarily switched to online services for the safety and wellbeing of the congregation. We also organize and oversee small midweek groups that are currently meeting virtually for socializing, support, learning and prayer.

The Church attendance continued to grow during the period. Attendance on Sundays during October (the month for which we provide attendance returns to Vineyard Churches UK & Ireland, our governing body) increased to an average of 452 adults and an extra 10 children whilst running the services virtually. During 2019, we exceeded 400 on four Sundays. In the first two months of 2020, before the COVID-19 lockdown (see below), we had already exceeded 400 on four of the eight Sundays, with a high of 498.

Sadly, we have currently suspended ‘Vineyard Vibes’ which is an extremely popular midweek musical play event for parents and pre-schoolers, which usually runs on Wednesdays, and a new initiative, Soft Play Café, on Mondays. It is hoped that these will be back up and running again in the Autumn of 2021.

Storehouse

In Storehouse, we operate a food bank and provide furniture, household goods, baby and child clothing and equipment to those in need, all free of charge. We collect and deliver furniture within Aylesbury and its environs, again without charge. Storehouse is normally open to clients on Tuesdays and Saturdays; however, we have altered our opening times to meet the demand of our clients due to COVID-19, opening more frequently in the week.

During the period, Storehouse noted an increase in their total number of clients due mainly to COVID-19 whilst retaining most of their previous clients also. Because of the increase in demand for food (mainly due to this pandemic), Storehouse gave away 10,507 food parcels (compared to 6,040 last year) amounting to some 220,647 individual meals, with a value of approx. £262,675. This equates to some 95 tonnes of food.

This has been bolstered by a raft of grants that Storehouse has been awarded throughout 2020 which have helped support our charity arm immensely. It is largely down to the generous actions of the companies listed below who have been willing to support us that we have been able to provide so much to so many people in and around our community through this time of crisis. Their financial help has been outstanding and for that we are truly grateful. These include:

Registered company no. 03424117 Registered charity no. 1064215

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Trustees’ annual report

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

donors, and supermarkets alike to help support those in needespecially through the COVID-19 pandemic.

It is hoped that we can also reignite the Storehouse advice Hub, supporting clients with their wider needs, in areas such as job seeking, benefits advice, housing advice, debt management and the like, by hosting several partner agencies with whom clients visit prior to Storehouse. Our objective here is not simply to give to people in need but also to provide support to help them out of their current circumstances and rebuild their lives, as much as possible. In addition, we usually provide nutritious meals for parents and children on select days during the school holidays (when so-called ‘pupil premium’ children are not benefiting from free school meals).

We also support an independent charity led by a couple in our Church (originally under the umbrella of the Church) called ‘Refugee Compassion.’

We are a host Church for the national Vineyard Leadership Training programme, known as ‘Hub,’ which meets monthly on Monday evenings during term time. We continue to run the ‘Alpha Course’ at the Vineyard Centre, generally once-a-year. During the year we continued as members of the Evangelical Alliance and provided both financial support and Senior Pastor involvement to the Aylesbury Church Network. The Senior Pastors attend and contribute to Vineyard events both nationally and internationally, including speaking at the Society of Vineyard Scholars conference in the US.

During 2020 we have almost completed our refurbishing of the main Church coffee bar area and very nearly finished the refurbishment of our two new children’s ministry rooms. These rooms were much needed to accommodate our ever-growing Children's Ministry as it continues to expand. The principal purpose of this initiative was to enhance Church relationships and congregational engagement and to support the community using these rooms to support our midweek outreach events such as the Soft Play Café.

We also continue to support last year’s plan to team up with Hubbub, a third-party organisation, to launch and manage Aylesbury’s first ‘Community Fridge’ project. A Community Fridge is a simple way of sharing good food that would otherwise go to waste, accessible to anyone in the community, with no means testing or the ‘stigma’ that can be associated with a food bank. Having run the fridge for over a year now it has taken itself in the natural direction of becoming one with the Storehouse food bank as one compliments the other. The average UK family wastes £810 a year by throwing away food and drink, and £3 billion is wasted by food sectors. Despite growing awareness of food waste, there are few easy ways for people or businesses to get food near its 'sell by' date to others; a Community Fridge offers such a solution and we have seen a steady rise in the amount of fresh produce being donated from allotment holders, individual

Plans for 2021

Each year, on a Sunday in November, we have traditionally held Thanksgiving Services, in which we invite the congregation to contribute to a special financial offering over and above their regular financial commitments. However, this year due to the pandemic and the number of job losses in our community we decided that it was best to shelve the idea of a Thanksgiving service. We are planning to hold one in 2021 but have yet to set a date as we need to respond to the economic crisis and plan a way forward once out of this pandemic. This year’s theme is yet to be decided but we look forward to choosing one that reflects the needs of the church and its community as we step into 2021 together and deal with the aftermath of a community rocked by COVID-19.

The discontinuation of Sunday Services meant that we were unable to take up a physical financial collection, which immediately impacted us (and so throughout the period) to the extent of about 10% of normal giving. However, at time of writing we had seen a small drop in regular giving from those who give by bank standing order and equivalent. Indeed, we also saw several new givers (especially for Storehouse) and some who increased their giving. Most importantly, we were also very successful during this period in obtaining grants. This income very significantly exceeded that which was lost because of the cessation of Services, leaving the charity in a significantly stronger financial position at this point than before the pandemic lockdown.

COVID-19 Pandemic

The onset of the COVID-19 pandemic was, of course, the most significant event that affected us in 2020. The immediate impact in March was that we were required to immediately cease Sunday Services and other events that would normally take place at the building. Although ‘key worker’ status was available, we moved immediately to a ‘work from home’ wherever practicable approach.

The Church was relatively well-positioned for the enforced changes, in several respects. Firstly, we had already been live streaming Sunday Services for some considerable period, hence the technology and know-how were already in place (a relative rarity amongst churches until then). Secondly, as the main food bank in Aylesbury, operating for over 20 years, with strong relationships within the local community, councils and social and health agencies, the Storehouse team was immediately able to ramp up activities in response to the surge in demand. We began opening six days per week (rather than two) and very soon doubled the number of food parcels we were giving away. The Church immediately implemented a “COVID19help@aylesburyvineyard” helpline, manned by the staff admin

Registered company no. 03424117 Registered charity no. 1064215

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Trustees’ annual report

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

team, and supported by a team of Church volunteers, through which we delivered food parcels and other necessary supplies to those who were vulnerable and self-isolating within the local community. Our chef was redeployed to cook fresh meals (which were packaged into takeaway containers, frozen and then given away as part of our food bank services; to date Sarah and her volunteer team have exceeded 9,000 meals. Members of the local Aylesbury Central Mosque supported us with halal-compliant meals and encouraged their community to access help via the Vineyard. Local councillors began an initiative collecting food donations for us from local village drop-off points, which continue to provide much needed food. We also implemented food champions who volunteered to have a box outside their homes so that their neighbours could drop off food for Storehouse.

Leadership Transition

For well over a year, the Trustees and Church leadership teams had been working towards the retirement of the incumbent Senior Pastors, scheduled for early September 2020. The staff team were told about the succession plans early in the year, with wider awareness embargoed until March, during which time it was intended that the key leaders’ group would be told, followed immediately by explaining the plans to the congregation (in successive weeks). COVID-19 “hit” immediately before the key leaders’ event, which had to be cancelled, so the plans were immediately put on ice. After a period of reflection, there was a consensus amongst the Trustees and leadership team that on balance, the original timetable should be reinstated. The key leaders group was therefore informed in a “Zoom” call at the beginning of June, and the main talk slot was given over to explaining the plans to the congregation in the live streamed Service on the following Sunday. The responses have been very positive. Therefore, the succession plans for James Tweats to become the Senior Pastor were implemented in September 2020, and the appointment of Becky Stevens, who is currently Finance Administrator, to an Assistant Pastor role.

Change in legal structure and financial reporting period

Following ongoing conversations with our external accountants the charitable company is currently being converted into a charitable incorporated organisation to simplify and modernise the legal structure of the charity. This process will be completed in 2021.

As part of this move, the Trustees also chose to amend the financial reporting year to go from 1 September to 31 August to more accurately reflect the natural rhythm of the church calendar, and so this set of accounts reflect a shorter eight month period from 1 January 2020 to 31 August 2020.

Financial review

During the current 8 month period, the Charity achieved a surplus of £64,045 (year ended 31 December 2019: deficit of £15,146), increasing total reserves at year end to £725,318(2019: £661,273). The majority of the income for the Charity consists of donations, either regular or one-off, from congregation members.

Of the total reserves at year end, £706,930 were unrestricted as to use (2019: £645,827).

Reserves policy

It is the intention of the Trustees to hold unrestricted net current assets (excluding the secured loan) equating to three months ongoing cash expenditure – approximately £100,000. At year end, of the total unrestricted reserves of £706,930, £162,479 related to net current assets (excluding the secured loan), exceeding this target, however this should be taken in light of the drop in giving noted in the report above.

Structure, governance and management

Governing document

Aylesbury Vineyard Church is registered under the Companies Act 2006 as a company limited by guarantee and not having a share capital.

Aylesbury Vineyard Church is a registered Charity constituted as a limited company under its Memorandum and Articles of Association. The charity registration number is 1064215 (England and Wales) and the company registration number is 03424117 (England and Wales).

Recruitment and appointment of Trustees

The Trustees are also the directors of Aylesbury Vineyard Church for the purpose of company law. The Articles of Association require a minimum of three Trustees and there is no maximum set.

All directors are subject to re-election on an annual basis at the Annual General Meeting, with no maximum length of service. Only the current directors can appoint new directors. New Trustees are inducted through a series of documents and meetings with current Trustees.

Remuneration policy

The remuneration of the team is set by the Trustees with reference to similar roles within the sector, especially with reference to the wider Vineyard network.

Operational structure

The role of the Senior Pastors is akin to that of a Chief Executive and the role of the Trustees is akin to that of Non-Executive Directors. The Trustees have unfettered access to any financial or other data that they wish to see, independently of the Senior

Registered company no. 03424117 Registered charity no. 1064215

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Trustees’ annual report

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Pastors. Communication with respect to notable events, issues, and expenditures (specifically those which fall outside of budgeted items, involve borrowing or require using Reserves) takes place outside of formal scheduled Trustee Meetings (with a special meeting called where warranted). Trustees occasionally provide management, oversight or support in relation to certain projects, in which they work closely with the relevant staff team member(s), but for the most part the day-to-day activities are run and managed within the staff group. The Church subscribes to the services of NatWest Mentor for documentation, training, and advisory services with respect to Employment Law (HR risk management) and Health and Safety.

Risk management

The key risks identified by the Trustees are financial, reputational and key personnel related.

Assets and liabilities are protected through insurance effected with a specialist church insurer through a specialist insurance broker.

Financial risks are managed through a budgeting process that is engaged in by the Trustees and a budget agreed for the forthcoming calendar year. This provides a basis for periodic reporting of performance against budget in both income and expenditure. The bookkeeping is managed by a staff Finance Administrator who has direct access to the Trustees as and where appropriate. We also employ an independent Accountant. Financial performance is reviewed at Trustee meetings. There is a structured approval process for expenditure.

One Trustee is employed and remunerated (one of the couples who serve as the Senior Pastors) and any financial payments to him (specifically, reimbursement of expenses) is approved by an independent Trustee, as are Senior Pastor salaries. A second staff member (an Assistant Pastor and Head of Storehouse) is married to one of the Trustees, and hence is absented from discussions and decisions which may involve a potential conflict of interest.

Reputational risk is the potential for negative publicity, public perception, or uncontrollable events to have an adverse impact on our reputation, thereby affecting the size and scope of our operations and revenues. In Church terms, though such events are extremely rare, they attract considerable publicity when they do occur. Mostly, experience suggests that they are to do with sexual or financial impropriety on the part of the senior leader, usually facilitated by an excessive concentration of power for decision-making in that one individual and/or an authoritarian culture. The Trustees are satisfied that such conditions do not exist in the leadership and accountability structure of Aylesbury Vineyard. Factors that contribute to that are a team-leadership model (through an established Pastoral Leadership Team), an open culture in which questions are both welcomed and encouraged, and a transparency in financial affairs. Personal support to the Senior Pastors is provided both within the Pastoral Leadership Team and through relationships within the UK Vineyard movement, specifically through Area Leaders and

mentors (‘Overseers’) with whom the Senior Pastors and Team have a close relationship.

The names of the independent Trustees are published in the main Church literature (‘Vineyard Life’ magazine) with a dedicated e- mail address. Data protection measures are in place to ensure the Church is following GDPR. The Church has a safeguarding team and safeguarding policy for children and vulnerable adults, again with a dedicated e-mail address that is published in the literature.

The Trustees are confident that other reputational risk events will be able to be professionally managed, should they occur.

Key personnel risks are seen as relatively low. The plurality of leadership and the structured delegation of responsibilities (for overseeing areas of Church and Storehouse) to several people in the staff and volunteer teams should ensure no undue dependency on any one individual.

Statement of Board of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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 have general responsibility for taking such steps as are reasonably open to them to safeguard the

Registered company no. 03424117 Registered charity no. 1064215

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Trustees’ annual report

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

assets of the charitable company and to prevent and detect fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition the Trustees confirm that they are happy that content of the annual review and information in pages 3 to 7, along with the legal and administrative information on page 2 of this document meet the requirements of both the Trustees’ Annual Report under charity law and the Directors’ Report under company law.

They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition (effective 1 January 2020).

Independent examiners

The independent examiners, Haines Watts Chartered Accountants, have indicated their willingness to accept reappointment under Section 485 of the Companies Act 2006.

This report was approved and authorised for issue by the Board of Trustees on 12 February 2021 and signed on its behalf by:

James Tweats

James Tweats

Chair/Senior Pastor

Information provided to the independent examiner

Each of the persons who is a Trustee at the date of approval of this report confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

Preparation of the report

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.

Registered company no. 03424117 Registered charity no. 1064215

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Aylesbury Vineyard Church Ltd formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Independent examiner’s report

Independent examiner’s report to the board of trustees of Aylesbury Vineyard Church

I report to the Trustees on my examination of the accounts of Aylesbury Vineyard Church (charity number 1064215, company number 03424117) for the period ended 31 August 2020 which are set out on pages 9 to 21.

Respective responsibilities of trustees and examiner

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (‘the 2011 Act’) nor under Part 16 of the 2006 Act, and that an independent examination is needed.

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, it is my responsibility to:

This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s statement

My examination was carried out in accordance with 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 the 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

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a fellow of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

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

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.

Haines Watts

Shaun Brownsmith FCA

Fellow of the Institute of Chartered Accountants in England and Wales

Dated: 1 March 2021

For and on behalf of Haines Watts Chartered Accountants 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire, HP4 2AF

Registered company no. 03424117 Registered charity no. 1064215

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Aylesbury Vineyard Church Ltd formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Statement of financial activities

Statement of financial activities

Incorporating the Income & Expenditure Account and the Statement of Recognised Gains & Losses For the period ended 31 August 2020

----- Start of picture text -----
Unrestricted Restricted Total Total
funds funds funds funds
8 mths ended 8 mths ended 8 mths ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020 31 Dec 2019
Notes £ £ £ £
Income from:
Donations and legacies 2 433,985 112,953 546,938 646,678
Charitable activities 114 1,607 1,721 374
Other trading activities 3 5,535 - 5,535 16,860
Investment activites 29 - 29 43
Total income 439,663 114,560 554,223 663,955
Expenditure on:
Charitable activities 4 388,757 101,421 490,178 679,101
Total charitable activities 388,757 101,421 490,178 679,101
Total expenditure 388,757 101,421 490,178 679,101
Net income/(expenditure) 50,906 13,139 64,045 (15,146)
Transfer between funds 10,197 (10,197) - -
Net movement in funds 61,103 2,942 64,045 (15,146)
Reconciliation of funds:
Total funds brought forward 9 & 10 645,827 15,446 661,273 676,419
Total funds carried forward 9 & 10 706,930 18,388 725,318 661,273
----- End of picture text -----

The notes on pages 12 to 21 form part of the financial statements.

Registered company no. 03424117 Registered charity no. 1064215

9

Balance sheet

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Balance sheet

As at 31 August 2020

----- Start of picture text -----
Total funds Total funds
31 Aug 2020 31 Dec 2019
Notes £ £ £ £
Fixed assets:
Tangible assets 6 721,302 719,498
Current assets:
Debtors 7 11,480 15,203
Cash at bank and in hand 198,741 120,399
Total current assets 210,221 135,602
Current liabilities:
Creditors: amounts falling due
within one year 8 (206,205) (193,827)
Net current assets/(liabilities) 4,016 (58,225)
Net assets 725,318 661,273
The funds of the charity:
Restricted funds 9 & 10 18,388 15,446
Unrestricted funds 9 & 10 706,930 645,827
Total charity funds 725,318 661,273
----- End of picture text -----

The notes on pages 12 to 21 form part of the financial statements.

The financial statements have been prepared in accordance with section 415A of the Companies Act 2006 relating to small companies and FRS 102 Section 1A.

The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the period ended 31 August 2020, and the members have not required the charitable company to obtain an audit of its financial statements for the

period ended 31 August 2020 under section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the 2006 Act with respect to accounting records and the preparation of the accounts.

They were approved and authorised for issue by the Board of Trustees on 12 February 2021 and signed on their behalf by:

James Tweats

James Tweats

Chair/Senior Pastor

Registered company no. 03424117 Registered charity no. 1064215

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Aylesbury Vineyard Church Ltd formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Statement of cash flows

Statement of cash flows

For the period ended 31 August 2020

Cash flows from operating activities:
Net income/(expenditure) for period (as per SOFA)
Adjustments for:
Depreciation charges
Loss on disposal/write off of fixed assets
Finance charges
(Increase)/decrease in gift aid due
(Increase)/decrease in trade
and other debtors
(Increase)/decrease in prepayments
Increase/(decrease) in trade
and other creditors
Increase/(decrease) in HMRC payable
Increase/(decrease) in accruals
Net cash used in operating activities
Cash flows from investing activities:
Purchase of fixed assets
Net cash used in investing activities
Cash flows from financing activities:
Loan repayments
Net cash used in financing activities
Change in cash and cash equivalents in period
Cash and cash equivalents at the beginning
of the period
Cash and cash equivalents at the end of the period		 8 mths ended
31 Aug 2020
£
£
£
64,045
12,586
18,729
2,304

14,871
2,511

5,864
127

(6)
(271)

300
2,029

(595)
10,679
2,312
1,838
(5,612)
5,160
(7,320)
36,963
(16,694)
(10,626)
(16,694)
(5,972)
(20,720)
(5,972)
78,342
120,399
198,741		 8 mths ended
31 Aug 2020
£
£
£
64,045
12,586
18,729
2,304

14,871
2,511

5,864
127

(6)
(271)

300
2,029

(595)
10,679
2,312
1,838
(5,612)
5,160
(7,320)
36,963
(16,694)
(10,626)
(16,694)
(5,972)
(20,720)
(5,972)
78,342
120,399
198,741		 Year ended
31 Dec 2019
£
(15,146)
28,543
(10,626)
(20,720)
(17,949)
138,348
120,399
Cash and cash equivalents:
Cash at bank and in hand 8 mths ended
31 Aug 2020
£
198,741
198,741		 Year ended
31 Dec 2019
£
120,399
120,399

The notes on pages 12 to 21 form part of the financial statements.

Registered company no. 03424117 Registered charity no. 1064215

11

Notes to the financial statements

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Aylesbury Vineyard Church Ltd

Notes to the financial statements

1. Accounting policies

Basis of preparation of the financial statements

The financial statements have been prepared in accordance with ‘Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition (effective 1 January 2020)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The effect of any event relating to the period ended 31 August 2020, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 August 2020 and the results for the year ended on that date.

The functional currency of the Charity is sterling and amounts in the financial statements are rounded to the nearest pound.

Going concern

The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment, and the ongoing COVID-19 pandemic has had no impact on this assessment.

Legal status

Aylesbury Vineyard Church Ltd is a charitable company registered in England & Wales and meets the definition of a public benefit entity. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member. The registered address is The Vineyard Centre, Gatehouse Close, Aylesbury, Buckinghamshire, HP19 8DN.

Change in accounting period

During the current financial period the Trustees agreed to amend the accounting year end date from 31 December to 31 August, via a resolution at the board meeting on 10 August 2020, and to apply this to the period that commenced on 1 January 2020.

This decision was made to ensure that the financial statements fitted more closely with the annual cycle of activities for the Charity which tend to follow the academic year September to August.

As a result, the current period is eight months long compared to the prior year figures which represent a twelve-month period, resulting in some limitations with the comparative analysis.

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 and which have not been designated for other purposes.

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The balance and name of each restricted fund is set out in note 9 of the financial statements.

Income

Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.

Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred.

Income from charitable activities and other trading activities is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future period or event, in which case it is deferred.

Donated goods

Donated goods consist of food items donated to the Charity to be distributed via the Storehouse centre. Items are placed into standard boxes of which the value is calculated to be on average £25. The income is recognised as an item within income from donations and legacies, and the corresponding expenditure is recognised within direct ministry costs. The income and expenditure are recognised on distribution of the boxes to recipients, rather than at the point of donation.

Expenditure and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.

Indirect costs, including governance costs, which cannot be directly attributed to activities, are fully allocated to charitable activities, as outlined in note 4 of the financial statements.

Registered company no. 03424117 Registered charity no. 1064215

12

Notes to the financial statements

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship

Annual report and financial statements Period ended 31 August 2020

Irrecoverable VAT is charged against the category of expenditure for which it was incurred.

Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their useful life, on the following basis

Long-term leasehold 0.95% pa Leasehold improvements 1% pa Fixtures & fittings 20% reducing balance Motor vehicles 25% reducing balance Computer equipment 40% reducing balance

Cash at bank and in hand

Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes.

Debtors and prepayments

Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and accruals

Pensions

The Charity operates a defined contribution pension scheme which is administered by an external independent pension provider. Contributions are recognised in the Statement of Financial Activities as they fall due.

Operating leases

Rentals payable under operating leases are taken to the statement of financial activities on a straight-line basis over the lease term.

Financial instruments

Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.

Critical estimates and judgements

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The annual depreciation charge for tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets.

In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Creditors are recognised where 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.

Registered company no. 03424117 Registered charity no. 1064215

13

Aylesbury Vineyard Church Ltd

Notes to the financial statements

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

2. Income from donations and legacies

----- Start of picture text -----
Unrestricted Restricted Total
funds funds funds
8 mths ended 8 mths ended 8 mths ended
31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £
Donations and grants 291,480 112,953 404,433
Donated goods 142,505 - 142,505
433,985 112,953 546,938
Unrestricted Restricted Total
funds funds funds
Year ended Year ended Year ended
31 Dec 2019 31 Dec 2019 31 Dec 2019
£ £ £
Donations and grants 439,464 56,214 495,678
Donations in kind 151,000 - 151,000
590,464 56,214 646,678
----- End of picture text -----

3. Income from other trading activities

3. Income from other trading activities 3. Income from other trading activities 3. Income from other trading activities 3. Income from other trading activities
Unrestricted
Restricted
Total
funds
funds
funds
8 mths ended
8 mths ended
8 mths ended
31 Aug 2020
31 Aug 2020
31 Aug 2020
£
£
£
Café income
1,871
-

1,871
Rental income 3,646 - 3,646
Other sales 18 - 18
5,535 - 5,535
Café income Unrestricted
funds
Year ended
31 Dec 2019
£
11,445		 Restricted
funds
Year ended
31 Dec 2019
£
-		 Total
funds
Year ended
31 Dec 2019
£
11,445
Rental income 4,475 - 4,475
Other sales 940 - 940
16,860 - 16,860

Registered company no. 03424117 Registered charity no. 1064215

14

Notes to the financial statements

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

4. Charitable expenditure

Unrestricted
Restricted
Total
funds
funds
funds
8 mths ended
8 mths ended
8 mths ended
31 Aug 2020
31 Aug 2020
31 Aug 2020
£
£
£
Direct ministry costs
167,870
10,984
178,854
Salary costs
111,827
58,381
170,208
Other people costs
1,780
406
2,186
Premises costs
83,430
18,246
101,676
Administrative and other costs
18,330
13,404
31,734
Governance costs
5,520
-
5,520		 Unrestricted
Restricted
Total
funds
funds
funds
8 mths ended
8 mths ended
8 mths ended
31 Aug 2020
31 Aug 2020
31 Aug 2020
£
£
£
Direct ministry costs
167,870
10,984
178,854
Salary costs
111,827
58,381
170,208
Other people costs
1,780
406
2,186
Premises costs
83,430
18,246
101,676
Administrative and other costs
18,330
13,404
31,734
Governance costs
5,520
-
5,520		 Unrestricted
Restricted
Total
funds
funds
funds
8 mths ended
8 mths ended
8 mths ended
31 Aug 2020
31 Aug 2020
31 Aug 2020
£
£
£
Direct ministry costs
167,870
10,984
178,854
Salary costs
111,827
58,381
170,208
Other people costs
1,780
406
2,186
Premises costs
83,430
18,246
101,676
Administrative and other costs
18,330
13,404
31,734
Governance costs
5,520
-
5,520
388,757 101,421
490,178
Direct ministry costs
Salary costs
Other people costs
Premises costs
Administrative and other costs
Governance costs		 Unrestricted
funds
Year ended
31 Dec 2019
£
199,629
224,068
9,853
125,180
46,213
5,520
610,463		 Restricted
Total
funds
funds
Year ended
Year ended
31 Dec 2019
31 Dec 2019
£
£
39,425
239,054
23,605
247,673
-
9,853
5,501
130,681
107
46,320
-
5,520
68,638
679,101

Direct ministry costs includes £141,955 of donated goods relating to food parcels distributed to beneficiaries (year ended 31 December 2019: £151,000).

An analysis of staff costs can be found in note 5.

Indirect costs, including governance costs, which cannot be directly attributed to activities, are fully allocated to charitable activities.

Included in governance costs are the following expenses:

Total Total
funds funds
8 mths ended Year ended
31 Aug 2020 31 Dec 2019
£ £
Independent examination 3,360 3,360
Accounts preparation 2,160 2,160
5,520 5,520

Registered company no. 03424117 Registered charity no. 1064215

15

Notes to the financial statements

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Included within expenditure are the following costs:

----- Start of picture text -----
8 mths ended Year ended
31 Aug 2020 31 Dec 2019
£ £
Depreciation - owned assets 12,586 18,729
Operating leases - ground rent 23,333 37,917
Operating leases - other 625 938
Loss on disposal/write off of fixed assets 2,304 14,871
----- End of picture text -----

5. Staff costs

----- Start of picture text -----
Total Total
funds funds
8 mths ended Year ended
31 Aug 2020 31 Dec 2019
£ £
Gross salaries 161,312 231,623
Employer's NIC 6,207 12,550
Employer's pension 2,689 3,500
170,208 247,673
----- End of picture text -----

The average headcount during the period was 15 persons (year ended 31 December 2019: 15 persons).

No employee received employee benefits of more than £60,000 (year ended 31 December 2019: NIL).

The total employee benefits paid to key management personnel during the year was £36,328 (year ended 31 December 2019: £54,533).

There was £658 in pension liabilities outstanding at year end (year ended 31 December 2019: £NIL).

Registered company no. 03424117 Registered charity no. 1064215

16

Notes to the financial statements

Aylesbury Vineyard Church Ltd

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

6. Tangible fixed assets

----- Start of picture text -----
Long-term Leasehold Fixtures & Motor Computer
leasehold improvements fittings vehicles equipment Total
£ £ £ £ £ £
Cost
At 1 January 2020 449,999 276,735 57,529 5,700 8,921 798,884
Additions in the period - - - 16,694 - 16,694
Disposals in the period - - - (5,700) - (5,700)
At 31 August 2020 449,999 276,735 57,529 16,694 8,921 809,878
Accumulated depreciation
At 1 January 2020 31,104 20,168 17,521 3,394 7,199 79,386
Charge for the period 2,860 1,845 5,335 2,085 459 12,584
Disposals in the period - - - (3,394) - (3,394)
At 31 August 2020 33,964 22,013 22,856 2,085 7,658 88,576
Net book value
At 1 January 2020 418,895 256,567 40,008 2,306 1,722 719,498
At 31 August 2020 416,035 254,722 34,673 14,609 1,263 721,302
----- End of picture text -----

The long-term leasehold property acts as security against the bank loan outlined in note 8.

7. Debtors

----- Start of picture text -----
Total Total
8 mths ended Year ended
31 Aug 2020 31 Dec 2019
£ £
Accrued gift aid 6,135 6,262
Prepayments 3,825 5,854
Overpayment to HMRC for PAYE 1,249 3,087
Other debtors 271 -
11,480 15,203
----- End of picture text -----

Registered company no. 03424117 Registered charity no. 1064215

17

Notes to the financial statements

Aylesbury Vineyard Church Ltd formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

8. Creditors – amounts falling due within one year

Total
Total
8 mths ended
Year ended
31 Aug 2020
31 Dec 2019
£
£
Bank loan
176,851
180,312		 Total
Total
8 mths ended
Year ended
31 Aug 2020
31 Dec 2019
£
£
Bank loan
176,851
180,312
Trade creditors 18,376
8,355
Accruals 10,320
5,160
Pension payable 658
-
206,205
193,827

The bank loan consists of a secured bank loan against the longterm leasehold property presented within note 6 above by means

of a fixed charge and is repayable on demand if requested by the bank.

9. Analysis of charity funds

Balance Income Expenditure Transfers Balance
brought for the in the between carried
forward period period funds forward
8 mths ended 8 mths ended 8 mths ended 8 mths ended 8 mths ended
31 Aug 2020 31 Aug 2020 31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £ £ £
Unrestricted funds
General funds 645,827 439,663 (388,757) 10,197 706,930
645,827 439,663 (388,757) 10,197 706,930
Restricted funds
Children's Hub Fund - - (7,800) - (7,800)
D Looi funds - 721 (658) - 63
Make Lunch 4,707 200
 (4,907) - -
POP Therapy project - 25,000 (5,306) - 19,694
Refugee Compassion 592 - - - 592
Storehouse - 62,839 (62,839) - -
Storehouse - food provision - 3,155 (1,505) - 1,650
Storehouse - Foodbank - 5,373 (5,373) - -
Storehouse - WRAP - 5,955 (2,855) 3,100
Community Fridge 530 5,000 (5,530) - -
Storehouse van 9,597 1,000 - (10,597) -
Other appeals 20 5,317 (4,648) 400 1,089
15,446 114,560 (101,421) (10,197) 18,388
661,273 554,223 (490,178) - 725,318

Children’s Hub Fund

D Looi funds

During the year, the Charity secured funding to improve the facilities available for children’s work. The deficit on this fund was met by a grant received in September 2020.

These are funds received to support a member of the community.

Registered company no. 03424117 Registered charity no. 1064215

18

Notes to the financial statements

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Aylesbury Vineyard Church Ltd

Make Lunch

Storehouse - WRAP

These are funds to support the partnership with Make Lunch, which came to a conclusion at the end of this reporting period.

POP Therapy Project

These are funds to support the POP Therapy Project that commenced during the current reporting period.

These are funds to support the WRAP project withing Storehouse.

Community fridge

This was a grant from Hubbub to support the community fridge within Storehouse.

Storehouse van

Storehouse

These are funds to support the general work of Storehouse.

Storehouse – food provision

These are funds to support the purchase of additional food to complement the donated food as requests for food parcels has increased during the COVID-19 pandemic.

Storehouse - Foodbank

These are funds to support the purchase of a new van for Storehouse. The transfer from the Storehouse Van fund was to meet the costs of the new van purchased in year and reflected within the fixed assets shown in note 6.

Other appeals

These are funds that have been raised to support a number of smaller appeals supporting members of the community during the period.

These are funds to specifically support the running of the Foodbank withing Storehouse.

----- Start of picture text -----
Balance Income Expenditure Transfers Balance
brought for the in the between carried
forward period period funds forward
Year ended Year ended Year ended Year ended Year ended
31 Dec 2019 31 Dec 2019 31 Dec 2019 31 Dec 2019 31 Dec 2019
£ £ £ £ £
Unrestricted funds
General funds 648,549 607,741 (610,463) - 645,827
648,549 607,741 (610,463) - 645,827
Restricted funds
D Looi funds 10,258 1,506 (11,764) - -
Make Lunch 4,410 1,235 (938) - 4,707
Refugee Compassion 3,182 2,601 (5,191) - 592
Storehouse - 13,263 (13,263) - -
Community Fridge 10,000 6,626 (16,096) - 530
Storehouse van - 9,597 - - 9,597
- -
DTI gift 10,430 (10,430)
Other appeals 20 10,956 (10,956) - 20
27,870 56,214 (68,638) - 15,446
676,419 663,955 (679,101) - 661,273
----- End of picture text -----

Registered company no. 03424117 Registered charity no. 1064215

19

Aylesbury Vineyard Church Ltd formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

Notes to the financial statements

10. Analysis of net assets

10. Analysis of net assets 10. Analysis of net assets 10. Analysis of net assets
Unrestricted
Restricted
Total
funds
funds
funds
8 mths ended
8 mths ended
8 mths ended
31 Aug 2020
31 Aug 2020
31 Aug 2020
£
£
£
Fixed assets
721,302
-
721,302
Current assets
191,833
18,388
210,221
Current liabilites
(206,205)
-
(206,205)
706,930
18,388
725,318
Fixed assets
Current assets
Current liabilites		 Unrestricted
funds
Year ended
31 Dec 2019
£
719,498
120,156
(193,827)
645,827		 Restricted
Total
funds
funds
Year ended
Year ended
31 Dec 2019
31 Dec 2019
£
£
-
719,498

15,446
135,602
-
(193,827)
15,446
661,273

11. Trustee remuneration

During the eight month period, one Trustee, S Burnhope, received total remuneration of £18,164 (year ended 31 December 2019: £27,266) and reimbursement of expenses incurred in their role as Senior Pastor totalling £1,815 (year ended 31 December 2019: £8,274), as permitted under clause 4 of the Memorandum of Association. The individual was not involved in any conversations

related to their remuneration nor approves any payments related to this remuneration.

No members of the Board of Trustees received reimbursement of expenses (year ended 31 December 2019: £NIL).

12. Related party transactions

During the year, one staff member was employed who is the spouse of R Tweats, one of the Trustees, receiving total remuneration in the period of £14,688 (year ended 31 December 2019: £19,778) and reimbursement of expenses incurred in their role totalling £Nil (year ended 31 December 2019: £Nil). The related Trustee is not involved with any discussions relating to this employment.

ended 31 December 2019: £27,266) and reimbursement of expenses incurred in their role totalling £229 (year ended 31 December 2019: £463). The related Trustee is not involved with any discussions relating to this employment.

Total donations from the trustees amounted to £13,228 (year ended 31 December 2019: £22,472)

In addition, the spouse of S Burnhope was employed as a Senior Pastor, receiving total remuneration in the period of £18,164 (year

Registered company no. 03424117 Registered charity no. 1064215

20

Aylesbury Vineyard Church Ltd

Notes to the financial statements

formerly known as Vale of Aylesbury Vineyard Christian Fellowship Annual report and financial statements Period ended 31 August 2020

13. Other financial commitments

As at 31 August 2020, the Charity had the following annual future minimum lease payments under non-cancellable operating leases:

----- Start of picture text -----
Office Catering Office Catering
equipment equipment equipment equipment
8 mths ended 8 mths ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Dec 2019 31 Dec 2019
£ £ £ £
Within one year 769 434 2,308 1,302
769 434 2,308 1,302
----- End of picture text -----

Registered company no. 03424117 Registered charity no. 1064215

21