Charlty reglstratlon number 1066846 Company registration number 3445897 (England and Wales) VERSO VINEYARD CHURCH LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
VERSO VINEYARD CHURCH LIMITED CONTENTS Page Trustees, annual rgPQrt 2-20 Independent audito¢s report 21-23 statement of financial activities 24 Stat8m8nt of financial position 25 statement of cash flows Notes to the financial statements 27-40 Flnancial actlvitles for Verso Care Fund {Appendix not boing part of the audited financlal statam@nts) 33-35
VERSO VINEYARD CHURCH LIMITED REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Mr Mark Helvadjian Mr Bruce McKlnnon Mrs Ruth Robb Dr Andrea Taylor-Cumming8 Mr TIM Winfield Company Secretary Mrs Gil Yon Charity number 1068846 Company number 3445897 Reglstered address 7 Brick Knoll Park Ashley Road stAlbans H8rtfordshire AL15UG Audltor Felton Chartered Accountants & Statutory Audltor 1, The Green Richmond TW9 1PL Bankers Reliance Bank Limited Faith House 23-24 Lovat Lane London EC3R 8EB Bar£lay&Bank_Pl PO Box 104 stAlbans Hertfordshire AL13AN
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees are pleased to present thelr report and the flnanclal statements of the charltable company for the year ended 31st December 2023. During 2023, the name of the charitable company was chang8d from Vineyard Chrislian Fellowship of stAlbans to Verso Vlneyard Church Llmlted, DIRECTORS AND OFFICERS The trustees of the charitable company are also Ils dlrectors for the purposes of company law. This trustees, annual report therefore also contains the Information required for a directors, report under company law. In thls report the directors ara collectlvely referred to as the trustees or the managomont committ8e. The charitable Gompany throughout thls report Is referred lo as the church. The trustees seNlng during the year and since the year-end are as follows: Mr Mark Helvadjian Mr Bruce McKinnon Mrs Ruth Robb DrAndrea Taylor-cummings Mr Tim Winfi81d Company Secretary.. Senior Pastorlchief Executive Officer. Mrs Gil Yon Mr Mark Helvadllan OBJECTIVES AND ACTIVITIES Th8 objects of the church. as stated in the Memorandum of A8soci8llon, ara the advancement of the Christian faith in the United Kingdom and throughout the world, the furtherance of religious or secular publlc education, the relief of the poor, needy, sick, and elderly, and oth@r such objects as the management committee shall so8 fit. In fulfillSng these objedives, the church holds Chrlstlan services, provldes educatlonal and tralnlng sesslons, provides children's and youth activilias, and performs acts of servic8 and charity within the local commLAnity, th8 wider area and overseas. An encounter with Jesus, love and acceptance, His compasslon and frlendshlp, Hls forglvenes5 and healing chang88 people. When people respond to Jesus. invitation to follow HIM. transformatlon happens within the Indivldual but also ripples out to r8lation8hips, family. workplgc8s and soci8ty. To make Jesus known, th8 church continu6s to extend its reach, to reach those who do not yet know Jesus. It does this through creating spaces and places for people tc encounter Jesus. The mlnlstry and activifjes of the church are supported and enabled by hundreds of vclunteers, partner organisalions and a staff team of 28 people. The church owns warehouses that have been converted to provide: A doubl6 height atrium used to welcome visitors and host events and activities A second atrium used for children's reglstratlon for chlldren's work at the weekend and hostlng Verso Care (formerly known as the Care Cent) durlng the week. Warehouse spaces and rooms provide facilities to op8rate a foodbank for those in need of emergency support, clolhlng and equlpment. Other charltles In addressing similar issues are also resourced by Verso Care. These areas are also usod on Wednesday afternoon In the support of Verso Care guests who ar8 m8tnb8rs of the Bridge programme. Bridge members shop for food and oth8r essentials In a small 'supermarket' and access a range of support offered by partner organisations and mentors. Verso Care continu8S to grow and develop pathways to 8UPPOrt guests in changing their live8 Two refreshment bars, BLEND café, kltchen, washrooms, bookstore, offic8s, me8ting rooms and recreational ar@as to support the actlvltles of the church A large auditorium with seating for 730 psople over two floors fitted out with a large screen, projeclors. lighting and technlcal support which is used as a worship centre A suite of rooms and facilities for Village Kids providing ministry for babies and young children up to th8 age of 4 years old Recently developed spaces for Youth, Ventureland {chlldren aged 5 to 10 years) and Treasure Chest {a safe environment for childr8n with additional needs to feel nurtur8d in th8ir faith journey 8nd support th8ir families} Studlo and productlon rooms
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 In relation tc the Charlty Commission's guidance on publlc benefrt, the follon9 are examples of speclfic activities almed at the public.. Verso Care whlch InGlud8s emergenoy foad provision, the Brldge programme offerlng access to a 8oclal supermarket and tailored support packages includlng mentoring, tralnlng opportunit18s, KIT (clothing and resourc&s for childr8n}, Refuel offerlng meals and actlvltles during school holidays to those in receipt of free school meals Partnering wlth organisations to offer 8UPPOrt and advice to Verso Care guests coverlng addiction. mental health, 18gal advice, statutory agencies, and support workers Resourclng othgr loca5 charities and statutory agencles wlth food, clothes 8nd equlpm8nt Courses such as pre-marriage, marriage, parenting, life skllls and health and w611being Children and youth programmas Hosting other organisations providing servlce8 which beneflt the community e.g. NHS Bl(iod Donation s&ssion8 Providing opportunities to be part of a supportive and div8rse community doing life together Actlvltles Planned for the Year As we exited the liminal space of 2022, 18avlng behind th6 restrictions of the pandemic, 2023 has been a year of new opportunltles and open spaces. The activities planned for thls year were,, Servl¢es and Events Managa transition to two Sunday morning servlces in the first quarter of 2023 to include recrultment of team for all minlstry areas Continue to dev81op online capabllltles and content by Investing in worship and technology Continue to grow Sunday teams for all ministries- parking, welcome refreshments, online hosts, production, Youth, Ventureland, SEN and Villag8 Kids and update role descrlptlons Set UP and equlp new slewards, tsam Contlnue to build synergias across Youlh, Ventureland, Treasure Chest and Village Klds Youth and Ghildr&n's Ministries to contlnue to lead Every Ggneration services Refresh fire evacuation procedures for Village Kids to include investment in new radio handsets Develop and build tgam to launch a toddler group dunng the week Continue to enrich Vlllage Klds teachlng wlth animated worship songs and video8 Enhance the teaching framework for V8ntureland curriculum Develop Treasure Chest ministry and provide tralnlng for team Raise up new Ventureland leaders to lead and ov6rsee various minlstry areas Launch a w8ekly after-school café for youth to bring their fr18nds to Continue to build upon the success of youth ev6nts hosted with STEP and the 267 ProJect Develop sung, dancg and cr8ative worship within the youth ministry Grow engagemènt in Light Revolutlon filmfing evenls and in onlin8 views Continue to support Hatfield slte in th6ir outreach and ministry Find a venu8 for Hatfield site Build t6am for prtson minlstry to support the second multisite- The Mount Build and nurture a worship16adership team Support and invesl in worship, audlo and productlon team through UK Vineyard Retreat, Sound Summit and song writing workshops Connect and strengthen relationships with otherworship ministries Create our own music mlnlstry and produce a worshlp album Disclpleshlp and Pastoral Contlnue to support and promote Connect groups to bulld community and provlde dlsGlpleship opportunltles through leader training, r@sours. and publicity R8view Connect group operatlons by ancouraglng atlandance recording, parformlng health checks, updating role descriptions and refreshing packs Develop and deliver Equip courses including a bibllcally based justic8 and compassion cours8 and move toward year-round coverage Continue to identify, train and equip emerglng multi-site leaders, church planters and team Build team for runnlng Restored Llves-cours8 and develop into an evangelistic course Explore a healthy prophetic ministry group Build network and relationships wllh external counsellors and professionals Continue to support and promote existing ministry and outreach groups and their a¢tlvilles such as RISE, and men's mlnlstry Encourage volunteer led new events and acttvltlgs in line with th8 vision of the church
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Increase Ihe number of young people engaglng in the one-to-one mentoring programme R8source par8nts through r8gular 8mails, 8vents, and parenting courses Refresher Child Protecllon and safeguardSng courses for volunteers working with Ghlldren and adults at rl8k Provide splrltual abuse training for key pastors Build 8 4-year currlculum of teaching for youth mlnlstry Goverlng core doctrfne and Vln8yard distinctives Through fundraising events, make the DTI event affordable for all youth to comg and to invlte friends to Expand the pastoral care team (staff and key supporl workers} to meet the rising demand for support need8d by individuals Continue to offer online and telephone pastoral and prayer support which r82oh&s people who may not engage fac&-to-face Communlty Continue to support the Bethesda Orphanages in Indla houslng 150 children and 10 wldows Continue to support Wide Awake Intemalion81 working with orphans with special needs in Ukrain6. Include a ministry update for th9 congregation a Sunday servicg Continue to support STEP (St Alban8 & Harpenden Education Programme) and be intentional In bullding relationships with STEP and The 267 Project as a partners in youth outreach Continug to promote and manage th8 Crisis Fund to provide financial support to crisis sltuations supported by the church e.g. Tearfund -Afghanlstan and Turkeylsyria, Wide Awake Inlernalional- Ukraine Continu8 to make th8 building availab18 to b8n8fit th8 wider communty e.g. NHS Blood & Transfusion team. Herts Welcomes Refugees and explore communty use ofthe new facilities Launch the Vineyard Famlly Fund to invlte applications for financlal support From members of the church who are stnjggling financially. Applications wlll also b8 matched lo oth8r support that can b8 off8r8d 8ith8r through Verso Care or from the pastoral care team Arrang8 a Christmas Day meal, building volunle8r team and s88king funding Verso Care Maintaln and nurture the relationship wilh St Albans & District Foodbank (part of Trussell Trust network) who provide emergency food provislon through Versc Care strength8n existing r81ationships with charitl8S SUPPOrted by Verso Care though mor8 regular contact Create a role lo manage communlty engagement and publlclty for Verso Care, build relationships with partners (Mind, St Albans District Council, Family Centres, Family Lawyers, Christians Agalnst Poverty, The Llving Room, Computer Friendly, Morgan Sindall, STANTA, Job Centre Plus and Oaklands College) and develop links with new organlsations to enhan to support offered lo guests Continue lo raise income to fund Verso Care through donations and grants Partner wlth Redemptlon Roasters to provlde traSnlng and work experlence for guest volunteers In a pay a8 you feal café during V8rso Care sessions (which could be 6Xt@nded to other ministriesleventsl Develop a garden project called Eden. Guests will learn how to grow food in sessions arranged on an allolment whlch wlll then be avallable In the Brldge shop. Review pastoral care and training for team members Create a discipleshlp and leadershlp pathway for toam and guests and on-golng development of In.hous8 training programmes for guests Grow Gateway sessions - a pathway from emergency food provision through FEED to the Bridge programma Hold quarterly tours of Verso Care to helghten awareness Recruit more volunteer t@am members across all areas of Verso Care Expand support for families through runnlng cookery workshops, efferlng the opportunlty to complete a Food Hygiene qualification and work exporienco in using skills durlng Reluel sesslons Plan family outings and trips for Refuel sessions Rèview and ovérse6 d6V8lopm6nt of Vèrso Car8 databas&s
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Bu8lness Support and Operatlons Revlew branding strategy and con31der sultablllty for a multisit8 model Continue to flt-out and develop the new spaces created for Youth, Ventureland and Treasure Chest (Special Educatlonal Needs provi8ionl Occupy and resource new studio and tech rooms Re-arrange InterestnlY development loan to full repayment basls Dev81op conference hosting capabllitias and run two conferences In 2023 Review pay structur6 to invest in staff and ensure Ilving wages are paid Recruit Audlo Producer wlth respon5iblllty for sound engin8ering at 58rvlces Expand the staff team to invest in young adults, youth, and Children's ministry to include an additional youth WDrk8r role and two P8rt-time children's asslstants Continue to develop multislte support plans and procedures Create safeguarding resources and Irainlng vldeos and develop a member only safeguarding area Review polici6s and conduct a HR audlt Upgrade the Parrot room us8d by Village Kids Plan. cost and manage the refurblshment of atrlum 2 washrooms to include laundry and showering facilitie8 for use by Verso Care ACHIEVEMENTS AND PERFORMANCE Services and Events Although the restrictions and limitations of the pandemic feel so distant now, the church started the year wllh only one senrice on a Sunday and a plan to move back to s8rvices. The second momlng service was relntroduced during the first quarter of 2023 after a concert8d effort to increase volunteer teams. The youth team resourced and ran two Sunday mornlng youth sessions and have updated the recrultment pack to sirllplify th8 volunteer application process. At the start of the ygar when ther8 was just one service the avarage w&ekly attendance was 471 people. Attendance has Increased ovar the period snd the average attendance in last quarter of 2023 was 563 people. These figures relate to adults attending the seryice onsite at Verso St Albans and excludes those volunteering in Youth and Kid's ministries. Attendance on Easter Sunday WAS 740 and the Christmas Eve carol service attracted 775 people. The highest weakly attendance figures were at the end of October at 810 peoplg. Online viewlng varied week to weak throughout the year with 8verag6 weekly viewlng for th& year b8ing 417. The church continues to be underpinned by prayer through the Watch wher8by peopl8 are invited to pray dally for a month for spiritual growth, relational growth, provision and protection. The Watch is changed on the first Sunday of the month and other people commlt to daily prayer in these areas. Breakthrough, the weekly online prayer meetings continue for deep8r intercession wlth a wid8r remtt. Recruiting volunteers to different ministry t6ams is an ongoing and challenging process which can be a limiting factor in pursuing everything God has called us to. There has been significant growth in the congregatlon and now the challenge is to grow the ministry teams to support this growth. There Is a need to rethlnk how peopl9 become connected and involv8d so a culture of consumarism does nol creep into the Ghurch community. There will be changes in 2024 to address these concems. At this time, there Is 8 limiting effect In s8tting up new volunteer led Initlatlvas, creating new teams, @xpansion of existing mlnistries and developing current volunteers into leaders. Investment In worshlp and technology has continued in 2023 wlth new equipment and lighting for the maln auditorium. The worshlp leadership team of four people meet regularly to provide directlon and leader8hlp In this area. The worship teams have baen equipped and inspired through attendance at vocal workshops, a Worshlp Retreat, th8 Sound Summlt and song wrlting workshops, Initial work has been carried out towards crealing Verso Musio and the song writing workshops have equipp8d people to work on new songs for a worship album. Relationships have be8n slr&ngthened wllh other worship ministries such as Chapel Co, Vlneyard Worship, Kings Cross Church and other Wineyard churches through hostlng gu8st worshlp leaders and reclprocal visits. A Worship Gardan 8vening of creative worshlp including sung worship, dance, prayer room, Joumalling space and prophetical art took place In September at Vgrso St Albans wlth the option to purchase art provisions. This was a wonderful space that atlracted 105 people to express their worshlp to God creatively.
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 We dèsired to create a space to host the Spirit of the living God well, to encourag& freedom in worship through diverslty and creativity, to create space to be with God and one another. SPACE at Verso St Albans is a monthly worshlp gathering which attracts an average of 60 people. SPACE has taken people deeper into worship through sharfng thelr creatlve glftings In fellowship with each other. The Worship Pastor has helped support the multi-3ites by resourcing and visiting both Verso Hatfield and Verso The Mount. All th8 worshlp team8 from youth, klds, maln audltorium and Hattleld gathered in th8 last quartgr of thg year for a day of training and fellowship and the plan 18 for thls event to be annual. Oversight and support for youth and children's worship mlnistrfes has continued. Youth bands ar8 continuing to grow and develop, wilh three dlstlnct bands currently runnlng in rotation. More youth have expre8sed an interest in worship, BO this 18 expected to d8velop in 2024. At the beginnlng of the year God was stirring something in our church family regardlng Young Adults. Two volunteers responded to thls prompt and in May they started a group for Young Adults to meet once a fortnight at Verso St Albans. Inltially the group stsrt@d with att8ndan¢8 of 7 or 8 people but this rapidly Increased so that by September there was a leadership team of 9 and a socials team of 4 to support Ihe ministry. The av6rag8 att8ndance at the Monday 8V8nlng meetings was 35 people and there was a tlme of worshlp led by the Young Adults, games, prayer and smaller Bib18 discussion groups. A small leam w8nt to lh8 University of Hertfordshir8 during Freshers Week to conngct with students, welcomlng them to the area, sharing the Gospel and invltlng them to church. A local student and young adults nètwork began to emerge wilh Forest Town Church. St John's Church Haffield, and Herts Christian Union which led to an event at Verso St Albans called °If you could ask God anything.,. where two speakers from The Oxford C8nlre for Christian Apologetlcs IOCGA} answ8r@d questions from an audi8nc8 of around 50 young adults. In November, 8 young adulis att8nd8d the VCUKI weekend conference "Cause to Live forf, in Nottingham. Socials ar8 8 fun way to connect with others and included Impromptu pub vlslts, lunches after Sunday Serv18. Plzza Nlght, Bring and Share dlnner {wlth International cuisine) and a movie night. The young adults wer8 also encouraged to think about S8rving the wider communlty wlth the Kids team and the Welcome Team belng popular Chol8. It has been an exciting year for youth and children'5 minislry as they have inhabited th8 n&w spaces dev8loped for their mlnlsttles. The leams have worked closely together to organise and lead two Every Gen{eration) servlces on the 5th Sunday of th8 month. Both services were exciting, vibrant and inter8cliv& - such great opportunities to join together as a church famlly. Cohesion between the youth and children's ministries has contlnued to be slrenglhened with youth getting involved in Venlureland either as part of worship, dance. technical support or assisting in groups. Verso Youth have mada full usa of their new spac@s and the young people have continued to grow in faith and build supportive relationships with one another. The average weekly attendance across the y8ar was 84 young people. with the highest attendance being 136 one week in Seplember. Attendance tends to be higher during temi tlme and varies during the holiday w88ks. Through partnerships with STEP (St Albans & Harpenden Educatlon Programme), The 267 project and others (known as The Collectlve), the calendar of youth outreach event5 Including Illuminate at Nlnj8 Warrior, Illuminate Prom and Illuminate Night at Vinayard have b8en amazlng and tt2nsforming. Other FUEL events are run three limes a year by churches partnering together allowing a large group of young people to worshlp in contemporary and creativo ways. A weekly after-school café called Illuminate Café launched in September for youlh to bring thelr friends to. At the end of the year, those attending were an equal split of youth from withln the church and friends from outside the church. Verso Youth have continued to grow their onlin8 pr8s@nc6 through Light Revolutlon filmlng events. There are now 395 subscribers, and 95 videos uploaded - total views were over 404,000. Regular filming days are increasingly attractlng participation from young peop18 on the fringe of church. The new Ventureland space is garden-themed, and volunteers created a river and waterfall out of mixed fabrics and acc@ssorie8 that runs along one of the walls. This is not just for dacoralion but is used for groups of children to spend time in the river soaklng up the presence of God, Large colourful canvases hang from the walls and both Ventur81and and Treasure Chest (a dedicated room for children wlth sp@cial n88ds) have been updated wlth cloud filters for ceiling lighting to r8pres8nt th8 sky thanks in part to a donation from a member of the congregation. The Treasure Che8t ministry has flourish8d from ils launch in 2022 with 5 volunt88rs and an empty room. The room has been transformed thanks to receipt of a grant from The Beatrice Lalng Trust and Is now fitted out with sp8cialisad soft play and sensory equipment, toys and educatlonal resources. Treasur8 Chest is now a colourful, safe and inviting space for with childr8n wilh special needs and their parents and is valued and a great resource. Training has been provided for th8 team to Include Positlve Handling.
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A Ventureland team night shared the vision for the mlnistry with volunteèrs and leaders and provided an opportunity for training. The Children's Assistant that worked in Ventur6land for part of the year produced an updat8d team booklet full of key information and guidance. There is now a full team of volunteers to support the registration leam, growth in the teachlng and overs8ers' team but a slight reductlon in the Treasur8 Chest team. There is still progress to b8 made ralslng up ovars89rs of the worshlp, teaching and pastoral areaB. Young people also serve and Ilke being involved in the registratlon process and Ihe worship bands. The teaching currlculums for both Ventureland and Treasure Chest is belng refr8shed and the base framework Is now in place to reflect God's wider famlly, Jew and Gentil8 together. T8aching forthe chlldren has been enriched through 5 visits by G8rry Cohen, a Messlanlc Jgwish Rabbi, who led 5 services in Ventureland and also spent tim8 in Treasure Chest. Vlllage Kids have seen team impacted by thg drop in birth rate post pandemic th fewer babies and therefore less parents volunteering. The av8rage weakly attendance across the year was 52 children with the highest weekly attendance belng 72 children. The attendance decreas slightly in th8 last quarter of year, consistent with the older childr8n moving into Ventureland and fewer new babi8s. On5y four baby packs were given out in 2023. It is notlC8able that a few people who volunteered bgfore the pandemic h8ve not returned although more parents are returnlng lo chur¢h wlth childr6n aoes 1 to 2 years old. The Vi1Sag8 Kids team have continued lo provide fresh resources and teaching has been enriched wilh animated worship songs and vldeos through subscription s8rvlces includlng Orange MuslG. The Village Kids pastor at the St Alban8 site has developed resources for multi-site use for children aged O to 5 years old. Thls has been a major project that has only been made possible with th8 r8cruitment of a Chlldren's Asslstant. Resources hav8 also be8n provlded to the Hatfield site for Ghildren aged 5 to 11 years old. In addition to this, fire @vacuation procedures have been updated and n8w radio handsets were purchasad to improve communication and door security. Unfortunately, the plan to launch a toddler group was not viable in 2023 but will b8 r6considered towards the end of 2024 or early 2025. Serwces were held to c8l&bral8 mi18Stones in people's faith journeys. Thirteen children were dedlcated to God In servlces throughout the year. Each chlld and their famlly r8C8ived pray8r during the servlce and a small glft. On Easter Sunday, 17 8dults and young people were baptised after completing preparation classes. V8rso Haff161d succeeded in flnding a venu8 close to Hatfield town ntre and were gxcited to launch Ih8ir weekly Sunday services in April. The core team of about 12 people have contlnued to build relationships with one another and have worked incredlbly hard. Verso St Albans have helped In Ihe ar8as of worship, admlnlstratlon and children's ministry by providing resources and support. The chlldren's ministry has grown so that two rooms are now utilised whereas at the start all children were taught together. People have encountered Jesus and have also been introduced to Verso Care for practical support. A Verso Haffield group led by two voluntaers meets lce a month In a café for fellowshlp. Attendance at Verso Hatfield averages 30 adults and 12 children at Ihe weekly service and is growing. The University of Hertfordshire Is located In Haffield and repres&ntatives trom Verso Haffield and Verso St Albans were Involved in the Fresher's Fair to make new studènts aware of the opportunities to be part of a contemporary fatth community. A prison ministry team was established to support Verso The Mount, an outreach In HMP The Mount. The team were trained and equipped, and a prayer team set up to pray for the men and staff. The Justice and Compassion Pastor spent two days eaoh week at the prison as part of th6 chaplaincy team and built a team of inmates that preach, teach, pray, r6ad the Bible and lead worship during services as well as runnlng a bergavement course with another team member and carrylng out pastoral care visits. Guest speakers hav8 been invit8d into the prison from other Vlneyard churche8 and the Verso Worship Pastor has supported the wor8hip team in Ihe prison. The churGh has jolned the Welcom6 Directory which is run by Iwo volunteers and Is an important Ilnk for those leaving pnson to find a supportive church to belong to. Work wlth Wsstminster Th801ogical College to introduce theology courses into the prlson is ongolng. One signlficant achlevem8nt during 2023 for the Justice and Compassion Pastor was the acceptance of VCUKI as part of the Frea Churches Group. Thls opens the way for people in the wlder Vineyard movem8nt to becom8 prison chaplains.
VERSO VINEYARD CHURCH LIMITED TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Dlsclpleshlp and Pastoral Th8re are a number of ways the church pmvidos opportuniti8s for discipleshlp and pastoral care for its rnembers which starts with making visitors welcome and helping them to settle into the community. The welcome desk is a good start point and visltors can collect a welcome bag givlng more Informatlon about the church and a voucher for a free drtnk from the BLEND café. Two Newcomer lunches were held aft8r the Sunday s8Nices in the BLEND cafa. These events provide an opportunity for Ihose who arg new to the church to meet with some church loader3 and make Connections with one anothar. The church runs EQUIP courses, led by teams of staff and volunteers, deslgned to support spiritual growth. The Introduclions Equip course, the church's foundatlonal ¢ours&, was run Iwlce during 2023, once in March and agaln in October. In total 36 people attended, and the feedback was incredlbly posltive. The course Includes examining the church's foundational beliefs, teachlng on the Kingdom of God, dlscussion rggardlng finan$, future plans and a tour of Verso Care. 20 people signed up for a Creative God course over four weeks in March. This cours8 allows particlpants to worship God creatlvely through painting. drawing and wrltlng. The course recelved grèat feedback and requests to run il again. Unfortunately, we w8r6 unable to run a biblically based justlC8 and compassion course this y8ar due to other acllvlties t8klng priorlty. 'Parenttalk - the teenage years, was an EQUIP course run by the youth team for parents of te8nagers. This was a six-week course developed by Care for the Family and the parents spoke about contlnulng to meet as a group in the future. Ventureland and Village Kids are hoping to run parenting courses in 2024. Discussions have taken place with youlh pastors of other large churches in respect of developlng a 4-year teaching Gurriculum for youth minlstry; this is something that will take time which the team wlll work toward5. It is important to build in flexlbility to the curriculum to allow space for alternative focuse8 that may arise throughout the year. Fundralsing events were arranged In 2023 to subsldlse the costs for young people attendlng the summer DTI camping festival (a national Vin8yard Youth 8V8nt) and as an opportunity to invit8 friends. Two N8rf Quast evanls Med the church Into an adventur& zone with an average of 177 atlendlng each session. There wa8 also 8 fundraising Quiz Night which attrac18d 72 people. Going fomard the funds ralsed through these events wlll focus upon those in greater need and Investment in r8sources requirgd to increasa future capacity for DTI 8ttend8nc8. In 2022, Vineyard Churches UK and Ireland (VCUKI) launched a mov8mgnt-widg leadershlp development programm8 C8lled Wineyard Minlstry Pathway to offer training and support for people to step into their calling. For the academic year 2022123. tha church ran an Essentials coursa on a monthly basis to cover the most important and foundaÉional aspects of 18adership. This course was volunteer-led and op8n to people who ar8 hopir)g lo or are already leading in minlstry. The Vlneyard Leadership College follows on from th9 Ess8ntials course and is a y8ar-long part-time programme for those wllh a vocatlonal calllng or a deslre for church plantSng as part of a dlscemment process. There are 8 S@rie8 of trainlng environments provided under Launch training and the option to study Klngdom theology through different modules and courses provided by Westminster Theological Colleg8. These opportunities have not been promoted as much as wg anticipated as capacity to oversee leadershlp tralnlng has been lim5ted due to Illness. However, the leadershlp team has contlnued lo identify and equip emerging multi-site leaders, church planters and team. A cor8 Vineyard value Is that "averyone gets to play" and volunteer led events and activities are always encouraged. The new ministy for young adults was driven fonNard by volunteers and new multi-sita ideas are rais8d by voluntears and put Into practico through volunteer-led teams, Verso Groups {formerly Connecl groups) are the prlmary way to bulld community, to disciple one another and grow faith. 358 people are currently sign6d up to r8gularly att8nd Verso Groups. There are 44 dlff6r8nt Verso Groups led by approxlmately 88 volunteer group leaders, Durfng the year 6 additional groups were set up and mor8 are planned for 2024. The number of business clubs operating under Verso Groups has Increased and In November the first quarterly breakfast meeting known as BC XL was launched. 53 people were in attendance and int8rest in the groups has continuad to grow. Group leaders were resourced through training sesslons and leadership meetings took place durlng the year for all those Involved in leading the various minlstries. Al the summer me8ting people sociallsed at a16aders' BBQ. There is still work to be done in gatherlng data for Verso Groups In the fonn of attendance recording, updating role d&scriptiDns, performing haalth checks and refreshing rosources. The women's minlstry Is called RISE and they operate wlth a core leadership of 9 women. There are 157 women slgned up for women's ministry. The main meetings h8ppen Iwice a month with average attendanc8 of 45 to 50 women. In additlon to the main meellngs. 28 women have signed up to two RISE Verso Groups that meet Iwjce a month. in the weeks th8 maln meeting is not operating. Thgre are plans to Increase the number of RISE Verso Groups next year.
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 We now h8ve The Prophelic Company, which is a women's group focuslng on, teachlng and encouraging the gift of prophecy. Thls runs twice a month and falls under the RISE mlnistry. Th8r8 are 25 to 30 committed member5 Cf the group, A proph@tlc group for Men Is belng explored to start in 2024. Th8 men's ministry had a core leader5hlp group of 6 men and groups coverlng dlff6rent areas of Interest such as golf, Bibla study, cards and photography wlth, on average, 8 to 12 men attendlng eaoh group. There were 5 large events over the course of the year including 2 BBQS, 2 Friday evening 8vents and a Christmas Hog Roast. The average attendance at th8se events was 40 men. The youth mentoring programme contlnued and at thg and of the year there were 14 mentors and 7 youths actively b8ing mantored. The young people hav& found the mentorlng to be helpful and there are plans to incroase capacity by training up new m8ntors befor8 establishing If other young people would be int8r8Sted in mentorfng. Staff changes within the Discipleship and Pastoral staff team mean that we now have full-time staff lo meet the rising demand for support. The Sunday moming prayer team has prayed for over 1,500 people (2022: 1,256), across the two servlces at Verso St Albans and responded to 35 onllne prayer requests12022: 136) during th8 s6rvices. The team has 57 members split OV8r a four-week rota. Support and follow up care was offered to 68 people who requlred p8Storal assistance and 25 offslte pastoral visits were mad8 In 2023. The team at Verso StAlbans ar8 th8r8 for Verso Care team members and the multisit8 l8ams at Hatfi81d and The Mount. Support was also offared by the team to multlslte Individuals and 3 refgrrals from Verso Halfleld were made during th8 year. Pastoral support for 10 p80ple w8s provided from a small ministry team (SMTS) (2022.. 13). Flowers and cards were sent to 19 individuals and families at times of b8reavem8nt or illness {2022., 16). Verso groups members also supported each oth8r through life's challenges including providing meals when helpful. There w8re weddings offsite at which a Pastor was the ¢el6brant 8nd a further ceremony on-site conducted by the Authorised Persons. There were Ihree onsite funerals and on8 taken offslte. The pastoral team develop and run a series of courses to address different issues or sltuations peop18 face in lif8. Th8 plan to run a Restored Liv8s in 2023 has been deferred to 2025. In 2023, r8sourc8s w8r8 focused on buildlng team of 17 people to run a Restore Course from September to December. This 9-week course provides opportunilies for participants to address personal issues in a safe and confidential envlronment. One participant commented 'th8 best way I can describe Restore is as'open heart surgery., Palnful (sometlmes brutally sol, challenging and it rneS wtth many tears. However, It Is also b8autifully Ilberating, empowering and transformative,, As part of building relatlonshlps and neiworks with extern81 professlona15, the church has partnered with Lighthouse Ministrfes who provide deepgr prayer and d81iverance ministry as well as tralning. To date 11 people have been referred to Lighthousa and the feedback has been encouraging. Other organisations that the church has built relationshlps with Include Healing Prayer School and Joumey UK (creators of The Restore Course). The we8kly prayer meeting, Breakthrough, ran throughout the year to pray together for the life of the Church. the community and the world,, the meeting is conducted online. PrayerNet Is a prayer inltiative for members of the congregation to request emergency prayer support. In 2023, 12 requests were re¢aived and there are 84 PrayerNet members who then offer prayer for those requests (2022: 22 requests and 87 PrayerNet members). The levol of demand for online and telephone pastoral and prayer support has decreased but Is stlll avallable on requast. There have been somg high-profile situations of splritual abuse reported in the press ov8r the past few years which have sadly impact8d th8 lives of indivlduals and tarnlsh8d th6 repulations of churches and church leaders, It Is vitally Important that our leaders are equipped in this area and some of the key pastors have attended spiritual abus8 training this year. There are plans for oth8r staff to access this training and to share th8 k8y 18arning points with team and Verso Group leaders. Safeguarding and child protectlon Continue to bg a prlotity for the church in creatlng safe spaces and places for all. Safeguardlng updates have been a feature of team training and those in key roles, whether voluntary or paid, underga appropriate safoguarding ch8cks and are equipped through r918vant training for the role that they do, All new staff completed Suicid6 Awareness training In 2023. SuicideAwarenes8 trainlng 11 be repeated by all staff annually.
VERSO VINEYARD CHURCH LIMITED TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Communlty The leadership team started to review the church's mission strategy towards th8 end of 2023 and this work is ongoing. The dasire of VCUKI Is that the commitment to °go and mak8 disGiples" would develop Into long term healthy partnerships. where friendships are cultivated, disciples are made, churches planted, n8ighbourhoods are transformed and whole countrles are 5mpactod. The GhurGh Is hoplng tc> mov& towards a model of mlssion that is allgned wlth that of VCUKI through partnership with @stsblished or emerging Vineyard mov6m@nts. This is a departure from the project-focus that has shaped our past mission support. The church has a Crisis Fund whlch collects donatlons to financially support crisis sltuations supported by the church congrggation, Th8S8 funds are allocat@d by th8 lead8rship t8am to dlfferent humanitarian Grisis situations as they occur. A donation was made to Tearfund from the Crisis Fund in May to support the crisis in Turkey and Syrla. Donations contlnue to be collected for thls fund and at the end of the year there was a balance of £564 available to carry fomard into 2024. The church has conlinued Ilnks with Wide Awake Intemational working in Ukraine with orphans with disabilities (www.wideawak8int8rnational.org). Th@ charity works towards d8institutionallsatlon of thls vulnerable and forgotten group of people. In February, two individuals who set up the project visited the church and provided an update on the situation in Ukralne. A group of paople contlnu8 to pray for Afghanlstan. WorldwSde issues are supporled In prayer through our Br8akthrough pray8r evenings. Durtng 2023, we 8UPPOrted thg Bethesda Mission Trust In India which provid8s housing and education for children and dows. Thls charlly Is currently Ilcenced by the Indlan government to received foreign funding under the Forelgn Contribution Regulation Act (FCRA). In the past 10 ygars, an increasing number of Christian non-profit organlsatSons have had their licences revoked and this does present a risk for the Bethesda Mission Trust to mitigate against. Th8 support for Bethesda Mlsslon Tnjst will be consldered under the revlew of the church's mission strategy. The Famlly Fund was resourced and launched In 2023 as a response to the current cost of living crisis Church membars who are facing financial difficulties can apply for support. Additionally, applicants can also access the services of Verso Care and support from the pastoral team where appropriate. In 2023 there were 3 applicatlons lo the Family Fund and a total of £1,150 was dlspersed. The church continues to support STEP, a charlty working in local secondary schools providing assemblies, workshops and support operated within a Christian framework and with an under5ying gospel m8ssage. STEP operales from our premises and greater synergies have evolved as we work together in partnership. We support STEP in running r8tr8ats for secondary school students by providing spaces withln our building to enable large numbers {120-150) of students to partlclpate. Verso Youth hav8 also partnered with STEP to run 11 Light Revolution filming workshops across thr8e rgtreal days for year 7 students from two local schools. A new Haven Local group has been set up at Verso StAlbans in partnership with STEP and The Haven (www.haven.ukllocal) to provide a safe space for young people aged 12 to 18 years old struggling with problematic anxiety. STEP also hosted a Riding Lights theatre production for 0 p8rformanc8s at Verso St Albans whlch attracted 519 over two parformances. In lotal for the academic year andlng In 2023, STEP calculated that there were 3,365 visitors to Ihe building for various retreats and events. We have continued lo seek fresh opportunities for people to make use of our premises and a film company hlr&d space for the cast and team to be based whilst filming in the local area. Regular hires have also continu6d including NHS Blood & Transfuslon team, Mind in Mid Herts, Herts Welcom&s Refvgees. One YMCA, Alban Healthcare, Women of Natlons and the Women's Institute. Herts Adopters Group now meet at Verso SIAlbans for a monthly coffee morning to offer companlonship and support for one anothgr. The church held a family Christmas fayre which was open to the Iccal communily. There w8s a rolling programm6 of short children's films showlng in the auditorium. refreshments. hot dogs and stalls s811in9 local crafts and gSfts. Thls year we also had a live natlvity scene in the courtyard outside the second atrlum with a variety of animals and a couple of shepherds. There was a leaftat drop to the local area to notify paople Df Ihls and other Christma5 events which resulted In a high&r footfall than in previous years. Th@ Angel Tree appeal was supported by church members and Verso Car6 again in 2023 to provlde a glft for 70 chlldren {2022- 50 children). This appeal glves fsthers servlng a custodlal sentence the opportunity to write a not8 to send wilh a Chrlstmas gift to their child(ren). The church hosted a Christmas Day gatherlng for those In the wider community who may find themselv8s alon8 or struggling and s8Ned 55 Christmas meals (2021: 44) thanks to a t6am of volunteers. In addltlon lo a warm welcome, each guest received Christmas glfts. 10-
VERSO VINEYARD CHURCH LIMITED TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 TRAID are an org8nlsation that sell clothing donatlons Sn the UK and then use the money to finance global projects improving conditions and working practlces in the textile industry. We host a TRAID clolhes recycling bin cn our premlses and during 2023 1,192 kg of unwanted clothes and shoes were collected, Ver80 Care Verso Care's mlsslon Is to @quip people with the tools and support they n88d to move towards livlng a more Independent Ilfe, empowering them to fulfil thelr God given potential. In 2023 100,060 items were donat to Verso Care. income from donations, memberships and grants totalled £77,420 and 23 olhar charit18s wara supported with 26,219 food and non-food itams. The Compassion and Justice Pastor has raised awaraness by speaklng at events and galherlngs of other charitles. The Warehouse Managgr continu95 to build relationshlps and 4 addltlonal charity partners were supported in 2023. A fhank you event took place in the Spring for supporters and donors. The partnershlp with St Albans & District Foodbank (part of tha Truss811 Trust nelworkl continued, provldlng Ihe emergency food bags for people referred by local organisations and agencies to collect at the Monday session. Through this relationship 1,173 essential emergency food bags were supplied and tralning opportunities frotn Trussell Trust have opened up for staff and volunte8rs. 217 people ac¢es5ed Verso Car@ for th8 first time in 2023. The Monday sesslon Includes a café offering free food and refreshments, access to pastoral support, prayer, KIT providing Ghildren's clothing and 6quipment (6,706 items giv8n out), a family room with activities for children and s8rvic88 provided by partner organisations (Mind, St Albans District Council, Famlly Centres, Family Lawyers, Christians Agalnst Poverty, Citlzens Advlca and The Living Room). Relationships with partner organisations have contlnued to grow stronger to the benefit of lh8 guests that visit the centre. In addition to the lood parcels provided by St Albans Foodbank cn Mondays. Verso Care provided 459 additional emergency food parcels for other families, couples and Individuals on other days of the week. The Brldge programm8 runs at the Wednesday afternoon sesslons and is a memb8rship scheme that provlde5 a mentorship pathway to help food bank users to take th8 'next st8p' lo becoming more food secure. Each m8mbgr is off8r8d 8 mentor, tralnlng support, opportunity for work experience and access to all the seiCeS offered at the Monday sessions. In place of pre-packed emerg6ncy food bags, Bridge membars have access to the Bridge shop where Ihey can choose from a larger sal8ction of food and grocery Items. In 2023, 21 new people enrolled on the Brldge programme and therè We 949 vlslts to the shop by members. Addltional partner organisations (Job Centre Plus. STANTA, Morgan Sindall, Ooklands Collage and Computer Friendly) continue to support Bridge m8mbers with career counselling, disability employm8nt advice and acces5 to over 600 courses. There were 7 Bridge mentors durfng the year and 42 Bridge members signed up for mentorlng. A new health and well-baing course h8s been added to other courses run throughout the year for Bridge guests. The mentor team hav8 helped people grow in confid8nce and people have progressed to secure employmenl or training opportunities. The high demand for the August school unlform 'shop' offered by KIT r8quired appointments to be booked this year. In total, 2,242 items of school unlform w8r8 glven away. KIT also provlded 30 'Llfe Boxes, to the Women's r8fuge. Chrlstmas can be a challenging tlme for some and there are a number of things we do to support those who n8@d h&lp. Th8 appendix to the accounts glves further information regardlng this support. Parcels with everylhino needed for Christmas dlnner benefitted 23 families and indivlduals, Th8 Christmas Shop gave away 1,220 gifts for children and 127 advent ca18ndars wore distributed. The Verso Care tearn have aCSS to lh8 wider churoh for pastoral support, leadershlp training and EQUIP coursgs alongslde training sesslons héld just for the Verso Care team. New pastoral pathways have been cr8ated for gu6sts moving from emergency food provision through FEED to the Bridge programme Sn placa of Gatew8y se8sions. These new pathways show early signs of greater effectiveness than the previous mod81 of gngag6rnent with long-term foodbank users. The church provides lunch and fun activits'es once a week during the school holidays through its REFUEL ministry for those who normally receive free school meals or ar8 in need of this support, Twelve sessions ran across the year and 566 meals were prepared and served. In th8 summer, the Family Coordlnator organised a picnic in a local park for the Refuel families. Cook6ry workshops for REFUEL parents took place durlng the year. The emerg8ncy evacuation procedures also were tested wlthout notice due to a smoke detector being set off. 11
VERSO VINEYARD CHURCH LIMITED TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Quarterly tours of Verso Care have laken place lo allow members of the congregation an insight into this minlstry and make them aware of opportunilles to volunteer. Verso Care has also been promoted in wider events based in St Albans. Volunteers have joined thg Varso Car8 team this year, but others have also moved on. Recruitment of volunteers remains a priorlty as wlth other ministry areas. Work expertence in the warehouse contlnues to be offered for Oaklands College students, Bridge m8mbers and for ref8rrals from the Probation Servic8. The plan to provide work experlenc8 to guest volunteers in pay as you feel café sessions at Verso Care has been put on hold due to issues fitting a new coffee machine. Fundraislng has provad difficult Ihis year despite taking advice from St Alban8 and District Council, Communlties First and our friends at St Albans and Hertsmere Women Refuge and tralnlng for bld wrlllng. The undifferentiated reserves of Verso Care Fund havg be8n cit8d as a major r8ason for th8 lack of int8r@st from grant making bodles. Towards the end of the year, the role of Community Engagement Coordinator was filled by a person with extensive experienca relevant lo managing relationships wllh tha growing numbar of partners, publicity and fundraising. Allhough th8 garden project Id&a called Ed6n to grow food for 8a16 in the Bridge shop Is a worthy one, upon further investigation we found that no fundlng was available to support the project and not enough intérest from th8 wldar congregation to make this project viable. A signlfiGant amount of research into sourclng a database for Verso Care was carrled out In 2023 and a proposal for the 2024 budget was Put foTward. Given the signÈficant cosls involvgd, the trustees have requ8st8d a business case for funds to be allocated to thls and so this Is an ongolng project. The Appendix to the financial statements shows the financial posilion of th8 V6rso Care Fund in 2023 and additional infonnation fftlating to the servlces provlded. Buslness Support and Operatlons The most impactful change during the year has been a change of company nama at the end of the year lo support the multisite model of growth. The company moved from a geographlcal based name to a generic nam8 that can be paired with dlfferent spaces and places. Following a dlscernment procgS8 tha name chosen was Verso Wneyard Church and is also known simply as Verso. Verso is a Latin word which means to turn the page and sp8aks of a fresh start and transformatlon. The church is proud to be a founding church of the Wineyard movement in the UK and we al80 wanted the name to reflect that we are a Vineyard church. Alongslde the name change we have developed a brand strategy that communlcates who we are in a bold and contemporary way and will bring consistency across all sites and activit16s. We have a new website www.ver60.church and other changes such as signage, policies, documentation and the like will be worked through over the coming months. An outstanding achlevement of 2022 was the development of an empty warehouse into usab16 SP8C8s for Youth. Ventureland, Treasure Chast (a room for childran wlth special educational needs), studlo space and supportlng storage, washrooms and kitchen facilities. Following on from Ihis, the youth auditorlum has now been fitted out with atmospheric Ilghting, beanbags and Tribe Stations to provide an inviting environment for youth minlstry. Plans have been made for the fit out of a°Lux Lounge to facilitate a dedicated teaching stream for young people in years 11 + Early In th6 year. we were delighted to receive a grant from the Beatrice Laing Trust for £20,000 which was utillsed for our children's ministry. Thls resourced the fit out of the Treasure Chest room, previously mentioned, with sensory and soft play equlpment, toys and other rasources. The room is now a colourful, safe and invltlng space for with children with special neads and th@ir parents. This group of peopla often face multipl8 barri8rs in accessing church seNlces and children's mlnistry, but this resource has made an enormous dlfference. Work has also contlnued to resource the studlo and technlcal rooms. The short-tarm int8r8stwonly loan used to help finance the 2022 development projgct raached temi durlng th8 period and a new repayment loan was arranged with Reliance Bank Limited In its place, Interest rates Increased seversl times through- out th& y8ar increasing the repayments on both loans- all payments were met in full. 12-
VERSO VINEYARD CHURCH LIMITED TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Following a restructure of Busine55 Operations late In 2022, the Administrator and Operations Assistant first task w8S to orgaHis8 hosling a VCUKI conference called Equlp and Ignite at the start of February. At this event, Steve and Cindy Nlcholson, trailblazers from the aarly days of the Vineyard Movement in the USA, shared thelr wisdom and practical Inslght to equip Vlneyard churches for Kingdom minlstry and ignite a ranewed passion in us for the work of the Holy Spirit. This conference spanned Friday 8V8nlng Into Saturday and required lunches to be available for delegales on the Saturday. The conference was a success and a good leaming experience. In May, we organlsed a Conference for Tre Heallng Prayer School whlch Is a UK Christian event and teachlng mlnlsty led by Lin Button and her team, The conference's th8me was 'Christ within, the Hope of Glory, (Colosslans 1.27). The conference ran over four days and includ8d catering for the ministry team. A team of 40 volunteers helped th8 conference run smoothly. A total of 153 people slgned up and there wer& healings as a resull of tha taaching and ministry. Overall the Staff team @xpanded to support the growth in the Church and the plans for the future. The church commltted paying living wages for all employees and In fact for 2023 the pay structur8 and rises were based upon Ihe real Ilving wage. Addilional hours increased capaclty for five roles Ichlldren's Pastor. Verso Car8 Family Coordinator, Compassion and Justlce Pastor, Worshlp Pastor and V8rso Care Van driver). Two existing part-tlme staff filled new full-tlme roles (Youth Pastor and Assistant Pastor). A further 6 new roles were fllled (2 Childran's Assistants, Audio Producèr. Verso Care Communily Engagement Coordln8tor, Associate Pastor and Op6rationsAssistant). Twu staff left employment In 2023 {Children's Asslstant and cleaner) to pursuè other opportunities and since the year end a new cleaner has lolned Ihg Staff tsam. One member of key leadership staff has be8n on sickness188ve for the second half of the year and this has led to plans being paused @specially in relation to developing leadership pathways and multlsite support plans and procedures. A tgmporary role of Multlslte and Leadership Coordlnator was created to bridg6 Ihe gap and this role starts In January on a part-time basis. Plans regardlng developrnent of safeguarding resources and reviewing policles Sncludlng an HR audlt were not reallsed due to capacity r8strictions. Th8 trustees have approved a new role cf Compllance Assistsnt to support the Business Op8rations team to drive these thlngs forward. The posltlon has b88n filled and comm8nc8d in January 2024. Other plans to upgrade the Parrot room used by Village Klds and d8velop washrooms facilit18s for use by Verso Care W8re not achleved In 2023. The Parrot room suspended ceiling prevented planned changes going forward and the washrooms Is dependent on securing funding for this project. FINANCIAL REVIEW Flnancial posltlon Following a y88r of growth and translllon in 2022, there Mas b88n further growth of 190/0 in total Income (2022: 26.80/0}. The church entered 2023 wlth strong g8n8ral unrestricted reserves of £418,315 and the trustees decided to set asid8 a portion of thes8 reserves for specific projects to develop the rnulti-site strategy and supporting infrastructure alongside continued Investment in the areas of worship and onllne content. As a result of this decision, a deficil of £88,500 for 2023 was planned with the Intentlon that this would utilise a portion of the free reserves brought fornard. Given this context, th8 trustees are pleased to report an overall deflclt of £39,827 in 2023 (2022 surplus of £38,352). For clarlty and comparison, ther@ was an overall surplus of £30,167 in 2023 before deducting the actual reseNes funded project costs of £89,994. The princlpal sources of fun¢Jlng for the church are member donations and the relaled gift aid recovery. General fund donation Income during th8 year was £1.049,356 compared to £886,310 in 2022. This represents an Increase of 18.4% year on y8ar and can be attrlbuted to growth both In numb8rs and in giving of 8xisting members. In addition to th8 general fund donatlons above, a few exc9ptional one-off don81ions totalling £86,956 were designated by the leadershlp team to fund additlonal staff costs required to support church growth Ihls year and golng forward. There Is a balance remaining at 31 DeG8mber 2023 of£58,904. Restricted fund donations were £454.100 wmpared to £591,360 in 2022 representing a 23.2 % decrease. This decrease is du8 to reduced donations ID Verso Car& £77,420 (£92,032 in 2022). a reduction in the valu8 of goods given out from the warehouse £302,0451£365,141 in 2022) and lower levels of giving to Ihe Reach Fund, a restrfcted fund to resource the church's 10-year plan for growth. 13
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 FinanGial donations to Verso Care In 2023 were 15.9 % lower than in 2022 and the value of donated goods dlslrfbuted during the year decreased by 17.30/0. The trustees recognise that growth in income for Verso Car8 is r8quir8d and towards the end of the year a new poslt]on of Communlly Engagement Coordlnator was created te build relationships and seek funding. In addilion to this th8 trustees hav8 Set asid8 £181,550 of th8 Verso Car8 Fund reserves brought forward 8p8cifically for future staff costs to provide continuity of operations and growth in the services offered by V8rso Care in th8 short to medium term. Furthermore, the trustees have also set aside £25,000 as a contrlbution lo capital development of facilities with the balance to come from fundralslng. These measur6s mitlgate agalnst general economic uncertalnty and Ihe potential impact this may have on Income lovels for Verso Care. The Reach Fund, launched In 2022, Is to raise Income for projects and aGtivities to enable the 10-year vlslon of outr8ach and expansion. This includes Invéstmant in and expansion of existing facilities as well as new sitos across the region. Donatlon8 for the Reach Fund in 2023 totaled £39,Q09 and expenditure was £43,452 - there 15 a balance of £54,982 Garri8d fOard for th6 Reach Fund. Of this expenditure: £27,829 was spent supportlng multl-sites and outreach. £13,253 related to further fit-out costs of the areas developed in 2022 for Youth, Venture land and th& tethlstudio rooms. and Young Adult mlnlstry costs were £1,612. Grant fundlng enabled the fit out and resourclng of the Treasure Chest room. The trustees and management met frequently to monitor the income levels and cash ftow. Costs have continued to be monitorod closely and we have returned to individual budgel holders managing costs agalnst the agreed budget. The unrestricted operatlng ccsts are hSgher than In 2022 for the followlng reasons- Planned inv&stm8nt for stratagic prioriti8s fund8d by r8S8Nes in.. Worship equipment and auditorium lighting Equlpment and resources to improve onllne streamlng and digital ntent Infrastructure chang8S to support the multi-si18 mod81 which includes brand strategy, a naw webslte, and costs associated with the change of name to Verso vineyard Church Gen8ral pric8 increas88 as a r8suIt of the cost-of-living crisis Exceptional Increases In energy costs and loan inlerest cost5 Costs of stafflng for accelerated plans due to receipt of exceptional designated donations Additional 8tsffing costs requir8d to Incr&ase cap8city to match growth Operational expenditure was £1,200,090 in 2023 compared to £944,051 in 2022. Ther8 was an unrestricted deficit before transfers of £2,339 (deflclt of £26,123 In 2022) for the year. Although a deficit arose for the general fund during the period, it was planned for and th8 reserves brought forward are more than sufficient to cover thls and to provide a firm basls for the church to continue its plans Into the future. The restrictad r@S@@s decreased during the year and at the year-gnd stood al £278.877 (£307,689 in 2022). Overall, there was a total deficit of £39,827 In 2023 (surplus of £38,352 In 2022), 14-
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Reserves policy Total funds held at the 8nd Df th8 y8ar are £3,808,998 {£3,848,825 in 20221 including restricl8d funds of £278.877 {£307.669 in 2022). Th8 church aims to hold sufficlent funds whlch are not deslgnated or restricted (l.e. free reserves) to meet 3 month5 committed expendSture as determined by the current budget less 50/it representing uncommltted expendlture. Reservo levels are monltorad ragularly and raported to the management committee. In 2023, the church continued lo monitor incorne weekly and cashflow monthly whlch prowdes data for management decSslons to be made in a responsive manner, Reserve 1gV8ls r8main8d strong throughout the year and as 31 st D6c8mb8r 2023 fre6 r8s6rv6S Were £448,146 which r&pressnts 5 months expenditure {2022 . £418,315, 5.6 months). Furlh@r d8lails on the nature of restricted funds and deslgnated funds are set out In notes 16 and 17 of the financial statements. £3,023,067 of deslgnated funds can only be realised though the disposal of fixed assels. Additional financial information In relatlon to Verso Care is attached as an Appendix. The report does not form part of the audlted flnanclal statemants but is provided for transparent disclosure of Verso Care Fund for all those who donate to the work of Verso Car6. Tru8t80's Liabilitlas The Articles of Assoclatlon of the church provide that in certain clrcumstances the trustees are entitled to be Indemnified out of the assets of the church against claims from third parties in respect of certain liabilitles arising in connection with the performance of their functions, in accordance wlth the provision of section 234 of Ihe Companies Act 2006. Indemnity provlslon of thls nature has been in place during th8 y8ar and remains in place as at th8 date of this r8POrt but has nol been used by th8 trusteas. Small Company Provlslons This report has been prepared in accordance wlth the provisions of Part 15 of the Companies Act 2006 applicable to companles subject to the small companles, r&gime. FUTURE PLAN Our mission remains the s8me Make Christ known Our values do not ¢hgnye Kingdom mindsat Power ofthe Holy Splrit Everyone gets to play Extending justic8 and compassion Prforlty of worshlp We are called again to Extend our reach, to reach the108t Vislon for the next decade Create spatss and places for people to encounter Jesus 15-
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 In 2024, we will fulfil our mission and vlslon through the following plans.. Servlces and Events Continue to grow Sunday teams for all ministries at st Albans site- parking, welcome refreshments, online hosts, productlon, Youth, Ventureland, Treasure Chest and VSllage Klds Host 4 lunches through-out the year to wel¢om8 those who are n&w to Verso Vineyard Church and hlghlight information and opportunities to be Involved 8ulld team and hostAlpha courses al all Verso sltes Introduce wlder expressions of worship into Sunday servlces Ihrough prophetic art and dance Continue to develop online capabllltles and content by inv8Sting in worship and technology Launch Verso Music Host Worshlp Garden events 3 times across the year Hold regular bi-monthly m88ting of the worship leadership team to support culture and growth of worshlp teams Grow and strengthen our network with other worshlp mlnlstrles e.g. Vlneyard Worship, KXC, Chapel Co, Gas Stre8t Music Build 8 Strong taam of young adults to run a weekly Sunday evening service aimed at Young Adults but open to all Equlp young adults through content in the regular gatherlngs and through specific events and courses Develop a stud@nt brochure for Fresher8 Falr 2024 and for university stud8nts attending any sitè Run termly events that brlng a local network of young adufts together Equip youth bands to Gonfidently laad worship Develop vibrant online communities to reach new youth, Increase awareness of activities and enable th8m lo discover Jesus Host youth events that fri8nds can b8 invit8d to wlth follow up transformative aclivity Network wllh local and national groups to develop events, such as Llght Revolutlon with Step, Illuminate events with the Coll8cliv8, and DTI with VCUKI Grow core team and ministry overseers for Ventureland Continue to bulld Blble ntred curriculum for Ventureland and Treasur8 Ch8st Develop childr8n's ministry r8sourc6S that can be shared across multi-sites and the wider Vineyard Contlnue to create opportunities for Ventureland chlldren for Interactlons wlth Treasure Chesl, Vlllage kids, Youth and th8 wider church Build team to extend Treasure Chest to open for 11.'30 seNice at stAlbans Examlne practicalitles for Village childr6n with special educational needs to gain access to Treasure Chest Install n8W t8chnology in 2 Village Kid5 rooms and refresh teachlng relevant for digital world Create welcome and trainlng vldeos for volunteers to equip thom to serve In Village K1ds Write role d8scriptions, team handbook and websil@ cont8nt for Villag8 Kids Source volunteers for VEllage Klds beyond the parents ofthe children in Village Kids Conslder more possibilities and opportunit16s for Verso The Mount Continue to build and expand the core team serving at Verso Haffield on Sundays Grow attendance at Verso Hatfleld to conslstently reach an average of 60 adults each Sunday R818as6 Verso Haffield to offer prayer for healing in Halfield town centre Explore feasibillty of Incorporatlng pop-up Verso Care initiatives at Verso Haffiald Bulld team for and prayer support for the third multisile- Verso Luton Plan, 8quip and resource Verso Luton team for launch Launch Reach Fund 2024 after Easter to communlcate to the congregation the Reach inltlatlves prforitlsed for 2024 and invile participation through prayer, financlal provislon and getting involved Explore options and feaslblllty for other multi-sites and identify site pastors Examine optlons for an overseas church plant D15clpleshlp and Pastoral Dgv81op Verso Groups (formerly Connect groups) Into a scalable network model that expands and grows organically Maintaining discipleship and pastoral car8 Support Verso Groups leaders lo model discipl8ship and deliver first line pastoral care Support the growth of Verso buslness clubs to provide a space for Christians in business to come together. Host quarterly breakfast meetings bringing all thes8 groups together D8V8lop pastoral prayer spaces., a suite of rooms that glve safe and tranqull places for people to meet wilh Jesus. pray and receive ministry Broadgn tho offering of Equlp courses to covar all ar82s of church lif Assess feasibility for compassion and Justlce courses as part of Equip, find team and run
VERSO VINEYARD CHURCH LIMITED TRUSTEES, ANNUAL REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Provide opportunities for all to develop, train, practice and hone their giftlngs and acqulre new skills Maintain and develop existlng and n8W networks with external mlnistri8s and agenci88 such as Journey UK, Llghthouse, Restored Lives and others 50 that we provlde th6 best possible ministries to the Verso famlly of God Organise and host God's Rlver of Life conference with Lin Button and her team OrganI5e and host a wom8n's conference Introduce new RISE women's groups to include a monthly evening session Explore the possibility of setting up a men's prophelic group Encourage other VCUKI network churches to joln The Welcome Dlrectory to offer a welcomlng church community for people on their release from prison Contlnue to invest in th8 development of wcrshlp and audiolvisuals team through UK Mneyard R8tr8at, Sound Summit, annual worshlp gatherlng and song writing workshops Teach young adults about the importance of serving as a way to grow in gifting and connect with others Set up mentoring for young adults Coordinate with famllles to host university students and young adults for Sunday lunches Teach on prayer and 8ncourage young adults lo fomi pray8r trip18ls Introduce Verso Trlbes to Verso Youth to encourage connectlon and relatlonal growth within peer groups and a separate teaching stream forY8ar 11 + Provid8 Gl8ar paths fo servlng and Implement new structures to facilitate youth engagement and s8rving across ministry within youth and beyond Bulld taam and resources for offerlng a parentlng coursg Communlty R@introduc8 the compasslon and Justic8 diary and events Build relationshlps with other organisations to highlight Compassion and Justice issues to raise awareness wlth church m6mbers and opportunlty to support through giving andlor serving Contribute lo the VCUKI Compassion and Justice network through Nnning zoom sassions and creatlng resources and information for VCUKI website Develop mission Strategy to allgn wlth VCUKI Discuss changes to the church's mission strategy and Impllcations with B6th8sda Mission Trust Continue to support STEP {St Albans & Harpend8n Education Programme) and b8 intentional in building rolationshlps with STEP and Th8 267 Projact as partners in youth outreach Regulatly promote the V8rso Famlly Fund for both donatlons and inviting those church members who ar6 Struggling financially to apply for assistance Respond to crisls situations as they arise by raising funds and making donations through the Crlsls Fund to organisations such as Tearfund Explore community use of facilities and continue to make the buildlng available to ben&fil the wider communlty e.g. NHS Blood & Transfusion Team, Herts Welcomes Refugees, Mind in Mid Herts, Alban Healthcare group, One YMCA 8nd schools vla STEP retreats Arrange a Christmas Day meal for people In the Community who are in need or alone at Christmas, bulld the volunte8r team and seek fundlng Verso Care Mentoring for Communlty Engagemanl Coordinator with regard to promotlon of Verso Care and developing relationshlps wlth communily supporters and donors Conlinue to build relationships with existing partners (St Albans & Distrlct Foodbank (part of Trussell Trust network), Mlnd. St Albans District Council, Family Centres, Family Lawy8rs. Christians Agalnst Poverty, The Llvlng Room, Computer Friendly, Morgan Slndall, STANTA, Job Centre Plus, C2 Probatlon Unlt and Oaklands College) and dev8lop links wlth new organisations to enhance to support offered to gugsts Continue to raise funds for Verso Care through donatlons and grant applications R@source and implement a pay as you feel café during the Verso Care sessions Actively recruit and equlp more volunteers and mentors to loln th8 V8rso Car8 team across all areas Hold a training and development day for volunteers Plan, support and set-up an additional wegkly Bridge session to extend our offerlng to guests Develop in-house courses for Bridge members and Introduc8 new 8Xt8rnal courses Identify and engage additlonal networks in the community for work experience, work opportunitl8s, volunteering and apprenflceships Contlnue to host quarterly tours of Verso Care to promote awareness to church members Build team for and develop the Stay and Play groups SUPPDrtlng families at sessions 17-
VERSO VINEYARD CHURCH LIMITED TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Share more impact stories throughout Ihe church and work with pastors and leaders to enhance integration and accessibility between Verso Care and church and vic8 v8rs8. Implement a n8w comprehensive database for all areas of Verso Care. Review and improve the workflow of tha warehouse Buslness Support and Operatlon8 Esteblish a dedicated space for the Year 11+ youth wlth appropriate fumiBhing Complete upgrade of auditorlum lighting Refit of reception offlce to include more storage and workspaces Continue lo look for opportunities to hire facilities for communlty benefit Plan and carry out office moves to accommodate growing staff taam and development of pastoral sulte of rooms Apply for road slgnage for the church on Ashley Road Apply for planning permission for new signage on outside of bullding - commission and Install Plan,cost and manage development of a Connect Lounge Assass feasibllity of expandlng Treasura Chast with extra room and a disabled toilet Purchase a new pool for full immersion baptisms Implement brand5ng strategy throughoul the organisation to Include slgnage, badges. merchandising, team t-shirts, décor, social m8dia, wabsita etc Update policies and business documentation for new brandlng andlatest good practice Invest in staff to support growth to includ8 n8w rol@s of Compliancg Asslstant, Multl-site and Leadershlp Development Ccordlnator, Assistant Worship Pastor and Young Adult P8Stor Develop new mission slrategy and tailor recruitment and lob descriptions accordingly Review pay structure to invest in staff and ensure living wages are r8fleGted in 2024 pay rts8s Build upon conference Capabillty and plan and host two conferences Continue to dev8lop multisit8 8UPPOrt plans and procedures Cont1nue to revlew key buslness rlsks and Implement mitigating measures Contlnue to cr8ate safeguarding resources and trainlng videos and develop a member only safeguarding area on the web51te STRUCTURE, GOVERNANCE AND MANAGEMENT Gov8rning Document The company was established under a Memorandum of Assoclation, which establlshed the objects and powers of the charitable company, and il is gov8rn8d under its Articles of Association. The organisatlon is a charltable company Ilmlted by guaranlee, Incorporated on 7th October 1997 and named Vlneyard Chrtstian Fellowship of St Albans. It has also been known as St Albans Vin&yard, Tha Vinayard Church, and St Albans Vlneyard Church over the years. The name of the company was formally changed with Companies House on 8th Dec8mb8r 2023 to V8rso Vin8yard Church. Recrultment and Appointment of New Trustees Aside from the Senior Pastor who holds a pennanent position on the management committee, membership tenure is of a variable term and revlewed Informally. New trustees are selected following retlremenl of a trustee or the decision fio increas8 the number of tru8te6s on the committee. Following discussion by the management committee, members of the church are invlted to offer themselves for selection. The management commlttee seeks to maintain a range of appropriate buslness skills on th8 committee as well as to increas@ th818vel of diversity to provide gender parity and athnic representation within its governance strategy. Prospective candidates meet with one or more of the current committee members for an "interview meetlng.. The outcomes of these meellngs are revlewed by the management commlttee and following agreement on an appointment further introductions and bri8fings occur to ensur8 satisfactory induotion of the new trust88. This would include orientation to brief them on their legal obligations under charlty and company law, the content of the Memorandum and Articles ofAssociatlon, th8 committee and decision-maklng processes, the busin8ss plen, and recent flnancial performance of the church. In addltlon to thls, trustee development events are held perlodlcally both lo provide opportunlty for the Congregation to meet the trustees and und8rstand their rol8 and as a r8cruitm8nt 8V8nt for potential truste6s. From lime to tlme, where a sklll area Is deemed tr) be lacking in the management committee, a person may be asked to attend a specific m86ting to provlde SP8cialist knowledge or experi8nce or to provid8 SUPPOrt outside of megtings. 18-
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees undertake a check with the Dlsclosure and Barrlng Servlce due to thalr ov8r8ight responsibility for the Chlldren and Youth Ministry and other minislri8s involving vuln8rable groups. Trustees are sometlmes referred to as cllr8Ctors wh8n addr88sing the congregation a temi used since the incorporation of the church as a charltable company in 1997. Organlsatlonal Structure The Boarcl of Trustees admlnislers the church In accordance wlth Charity Commission guldelines, The Board meels as required but normally 4-8 lim8s a y8ar. Mark Helvadjlan is employed as the Senior Pastor of the church and acts as the Chlef Executive Officer to manage the day-tC>llday operalions of the charity. The Sgnior Pastor Is remunerated by the church for his role and Is also permltted to be a member of the Board in accordance with the M6morandum and Articles of Association and by th8 Charity Commission. The Company Secretary, Gil Yon, who Is employed by Ihe church as Head of Business Operations, sits on the managern8nt committee, but ha8 no voting rights. To facilitate effective operations during 2023, Mark H81vadjian had d8legal8d authority wlthln terms of delegation approved l)y the trustees whlch Included flnanclal management, employee management and the general dir8Ction ol the ministry and vision of th@ church. Th8 t8rms of the d818gation are regularly review8d in accordance with the Charlty Commission's Charity Governance Code. The Head of Buslness Operatlons oversees the day-to-day financial management of the church and reports to thg trustees. The Head of Business Operations is also responsible for compllance and monitoring of company and charity law Issues and collaborating with the auditor8 to produce th& annual audited financial statements. The principal office of the church is th8 R8gist8r8d Office. Affiliations and other organi8ations with which the church Is assoclated The church Is affillated to the organisation Vineyard Churches UK & Ir@land and use of th8 'Winayard" name Is vested by them to tha Sgnior Pastor. The church Is also a member of the Evangellcal Alliance, and an official observer 9f the StAlbans Churches Together network. Th8 church also supports oth8r charitable organisatlons bolh in the UK e.g, the STEP project (stAlbans & Harpenden Educalion Project) and abroad e,g. Bethesda Orphsnage in India. Rlsk Management During the year, at their megtings, the trustees have consldered the major rlsks to whlch the church is Pkxposed, have reviewed those risks and established a risk regist8r and procedures to manage those risks. Thls ongoing revlew of the major rlsks identlfles slgnlflcant rlsks and assesses their probabllity and level of impact and any appropriatg mitigating acllon required. Particular attention is paid to those risks having the potential to have greatest impact on the church In the areas of financ&, reputalion, human re50urce5, safeguarding and child protection, and health and saf8ty. Ona of the greatest risks to tha church is a reduction in glvlng by the congregallon. To mltigate thls rlsk such Income Is monitored on 8 month-by-month basis and expenditure adjusled through strict budgelary control. Also du8 to the small staff group, the loss of key personnel Is another major risk and to mitigate this, the church is developlng a degree of overlapping of duti8s, particularly of pastors and uses os a resource the skills of indivlduals from within th6 congregation either for short term needs or as candldates to recrult Into vacancles. There is also a growing awareness of spiritual abuse as high-profile cases have come to light In the press in racent years. Th& church mltlgates these rlsks through training to raise awareness and by having robust procedures for reporting safeguarding concerns and complaints. The trustees are responsible for ensuring that the financial statgments are prepared on a 'golng concem basis. Going concern means thal the trustees have a reasonable expectation that the company can continua to operate for the foreseeable future whlch in turn means at loast 12 months from the date of approving the financlal statements. As the restrlcfjons and Ilmltatlons arlslng from COVID-19 recede and growth Is evident, the trustees continue to operate additional levels of financial monitoring to enable swlft action in responsg to changlng circumstances and ensure the church's Mlure stability. Thanks to Volunteers The trustees would partlcularly like to th2nk the substantial number of volunteer8, church members and other8, referr8d to In th6 report above, who giv6 th8ir time and energy to the activities of the church throughout the year and wlthout which the church would be unable to carry out its work In the community and beyond. 19-
VERSO VINEYARD CHURCH LIMITED TRUSTEES. ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF TRUSTEES. RESPONSIBLITIES The trust88s, who ar8 also Ihe dir8Ctors of Verso Vineyard Church Llmtted for the purpose of company law, are responslble for preparing the Trustees, Annual Report and the flnanclal stataments in accordanc8 Wlth applicable law and Unlted Kingdom Accounting Standards (United Kingdom G8nerally ACpted Accounting Practice>. Company Law requires the trustees to prepare financial statements for each flnancial year whlch gEve a true and falr view of the state of affairs of the charitable company and of the Incoming rgsources and application of resources, including the income and expendituré, of th6 charitable oompany for that y8ar. In preparing these flnanclal statemants, lh8 trusl868 are required to: sel8cI suitsble accounting pollcles and then apply th8m conslstently: observe the methods and principles in the Chartties SORP; make judgements and estimates that are reasonable and pwdent., state wh8th8r applicable UK Accounting Siandards have been followed, subject to any materlal departures disclosed and explained in the financial statements,, and prepare the financial statements on the golng concern basls unless It Is Inapproprlate to presume that the charltable company will continue in operation. The trustees are responsible for keeplng adequate accounting records that disclose with reasonablo accuracy at any time the flnanclal position of th8 charitabl8 company and &nable them to ensure that the financial statements comply with tho Compani6s Act 2006. They are also responslble for safeguardlng the assets of the charltable company and hence for taklng reasonable steps for the prevenlion and detection of fraud and oth&r irregulariti6s. In so far as the trustees are aw8re= there Is no relevant audit information of which th6 charitable CoMpanS auditors are unaware; and the trustees have taken all steps that they ought to have tak8n to m8k8 th8mselv8S 8war6 of any r&levant 8udlt information and to &stablish that the auditors are aware of that infomiation. The trustees are responsible for the maintenance and in18grity of the corporate and financial information included on the charitable company's website. Legislatlon In the Unlted Kingdorn governlng the preparatlon and dlssemlnallon of financial statements may differ from legislation in othgr lurlsdictions. Auditor Feltons. Chartered Accountants & Statutory Audltors was appointed as auditor to the charitable company. Dlsclosure of Informatlon to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor Is unaware. They have further confirmed that they have tak8n appropriat8 Steps to Id@ntify such r818vant infonTJatton and to establish that the audltor is awara Df such information. The trustees, annual report was approved by the Board of Trustaes on 25th June 2024 and slgned on behalf by . Tim Winfield Chalr of Trustees Dated.. 25 June 2024 -20-
VERSO VINEYARD CHURCH LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF VERSO VINEYARD CHURCH LIMITED Oplnlon W8 have audited th8 financial statements of Verso Vlneyard Church Limited Ilh8 'charitable company'} for the year ended 31 December 2023 whlch comprise the statement of financlal actlvltles, balance sheet. cash flow statement and notes to the financial statements, including a summary of slgnlflcant accounting policies. The flnancial reporting framework that has been applied in their preparation is applicab18 law and United Kingdom Accounting Standards, Includlng Financial Reporting Standard 102 The Financlal Reporting Standard applicabl& in the UK and Republic of Ireland (United Kingdom Generally Accgpted Accounting Practice). In our opinion, the financlal stalements.. give a true and fair view of the state of the charitable company's affairs as at 31 Dgc8mb8r 2023, and of its incoming resources and appllcatlon of resources, including its income and exp8nditure, for the year th8n have been properly prepared in accordance wlth Uniled Kingdom Generally Accgpted Accounting PractlC6' and have been prepared in accordanca with the requirements of the Companles Act 2006. Basls for opinion W& conducted our audit in accordance with Intemational Standards on Audltlng (UK) (ISAS {UK)) and appllcable law. Our responsibilitigs undar those standards are further descrlbed In the auditor's responsibiliti8s for th8 audil of the financial statements section of our report. W8 are independ6nt of the charitable company in accordance with the ethlcal requirements that are relevanl to our audit of the financial stalements in the UK. including the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal responsibilities in ac(x)rdance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basls for Dur opinlon. Conclusions relating to going concern In 8uditing the flnancial statements. w8 hav8 concluded that the trustee5' use of the golng concern basls of aGcountlng In the preparation of the financial statements is approprlate. Bas8d on the WO we have performed, we have not id8ntifi8d any material uncertainties relatlng to events or conditions that, Individually or collectively, may cast significant doubt on the charitable company's abillty to contlnue as a golng con¢8rn for a period of at least twelve months from whgn the financial statements are authorised for Issue. Our responsibllllles and th8 responsibiliti8s of the Iruslees with respect to going concem are describad in the rolovant sections of this report. Other Inforn)atlon The other information comprises the Snformation included in the Trustees, Annual Report, other than tho flnancial statements and our auditor's report Iher8on. The trust88s are responsible for the other information contained wlthln the annual report. Our oplnion on the financial statements does not cover th6 other Infomiatlon and, except to the extent oth&nNise explicilly stated in our report, we do not express any form of assurance conclusion thereon. Our responslbility is to read the oth8r information and, in doing so, consider whether the othar informatlon18 mat8rlally Inconsistent wllh the financial statements or our knowledge obtained In the course of the audit or otherwlse appears to b8 materially misstated. If we identlfy such material inconsistencies or apparent material misstatements, we are required to delermlne whéther th18 gives ris@ to a materlal misstatement In the financlal statements themselves. If, bas8d on the work we have performed, we conclude that there Is a material misstatement of thls other infomatlon, we are requlred to report that fact. We have nothlng to report in thls regard. Oplnlons on olher matters prescribed by the Companies Act 2006 In our opinion, based on lh8 work und8rtak8n in the course of our audit., the Information givan in th6 Trustees, Report for the year anding 31st Decembar 2023 for the financial year for which the financial statements are prepared is consistent with the financlal staternents., and the Trustees, Report for Ihe yaar ending 31 December 2023 has been prepared In accordance with applicable legal rgquirements. 21
VERSO VINEYARD CHURCH LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF VERSO VINEYARD CHURCH LIMITED Matters on which we are requlred to report by exceptlon In the light of the knowledge and und8rstanding of th8 charitab18 company and Its environment obtained In the course of the audit, we have not identified material misstatements in th& financial stalements as on 31 December 2023 and the Trustees, Report. We have nothlng lo repori in respect of the followlng matters In rel8tion to which the Companie5 Act 2006 requires us to r8POrt to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been rec6ived from branches not vislted by us., or the financial statements are not in agreement with the accounting r8cords and returns. or certain disclosures of trustees, remuneration specified by law are not made- or we have not received all the information and explanations we requlre for our audit,. or th8 trust88s w8r6 not 8ntitled to pr8par8 th8 financial statements In accordance wlth the small companies, regime and take advantage of the small companies, exemptlon In preparing the Trustees, R8POrt and from th& requirement lo prepare a strategic report. Responslbllltles of trustees As explained more fully In the trustees, responsibilities statement set out on page 18, the trustees (who ar8 also lh8 directors of th8 charitabl6 company for th& purpos8s of company law} are rgsponslble for the preparation of the financial statements and for being satisfied that they glve 8 true and fair view, and for such internal control as the trustees determine is neces88ry to enable the preparation of financial statements that are free from materfal mlsstatemenl, whether due to fraud or error. In preparing the financlal statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concarn, disclosing, 85 applicable, matt8rs relatad to golng concern and uslng the going concem basis of accounting unless the trustees elther intend to liquidate th6 charitable (x)mpany or to c@as8 op8rations, or have no realistic alt8rnatiV8 but to do so. Audltorfs responslbllltles for the audit of the flnanclal statements Our objectlves are to obtaln reasonable assurance about whether the financial statements as a whole are free from material misstatement, wh8ther due to fraud or 8rror. and to issue an Audltors, reportthat includes our oplnion. Reasonable assurance is a hlgh level of assurance, but is not a guarantee that an audit conductad in ac¢ordanc& with ISAS (UK) will always datect a material misstatement when it exists. Mlsstatements can arise from fraud or error and are considered material if, individually or In th& aggregate, they could reasonably be expected to Influ8nce the economic decislons of users taken on the basis of these financial statem6nts. Irragularitl8s, including fraud, ar8 instancas of non-compllance wilh laws and regulatlons. We deslgn procedures in line with our responslbillties, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, includlng fraud Is detailed below: We assessed the risk of malerial misslatement of the financial statements, including the risk of mat@rial misstatement du8 to fraud and how it might occur, by holding discussions with management and those charged with governance. W8 obtained an underslanding of laws and rggulations that could reasonably be expected to have a aterlal effect on the financlal statements through dlscussion with management and those charg with governance, including financial r8porting and tsxation leglslation. We considered that extent of compliance with thos8 laws and regulations as part of our procedure8 on th8 r8lated financial slatement items. 22-
VERSO VINEYARD CHURCH LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF VERSO VINEYARD CHURCH LIMITED We inquired of management and those charged with govemance as to any known instances of non- compliance or suspected non-compliance with laws and regulations. We remained alert to any indications of non-compliance throughout the audit. We addressed the risk of fraud through management override by reviewing the appropriateness of a sample of journal entries and other adjustments- assessing whether the judgements made in making key accounting estimates are indicative of a potential bias. and evaluating the business rationale of any significant transactions that are unusual or outside the nomial course of business that we come across throughout the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with govemance of the company. Our examination should not be relied upon to disclose all such rnaterial misstatements or frauds. errors or instances of non-compliance as may exist. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial slatements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in thefinancial statements, aswewill be less likely to beGome aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment. forgery. collusion. omission or misrepresentation. A further description of our responsibilities for the audit of the financial slatements is located on the Financial Reporting Council's website at: Mvw.frc.or .ukJauditorsres onsibilities. This description forms part of our Auditors, report. Use of our report This report is made solely to the charitable company's trustees. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audil work has been undertaken so that we might state to the charitable company's trustees those matters we are required lo state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable company and the charttable company's trustees as a body, for our audit work, for this report, or for the opinions we have fom)ed. Richard Rhodes (Senior Statutory Auditor) for and on behalf of Feltons, Chartered Accountant & ststutory Auditors 1,The Green Richmond TW9 1PL ioIT(+ -23-
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VERSO VINEYARD CHURCH LIMITED STATEMENT OF FINANCIAL POSITION ASAT31 DECEMBER 2023 2023 2022 Notas Fixed a888ts Tanglble assets Current asséts Stocks Debtors Cash at bank and In hand 10 4,289.071 4.392,754 11 q2 3,807 41.662 804,168 3,841 43,053 750,318 849,637 797,212 Credltors: amounts falllng due wlthln one year 13 (94,876) 1101.649) Net current ass9ts 754,761 695,563 Total a55ets less Current Ilabllltles 5.043,832 5,088.317 Craditors: amount8 falling due alter more than one year 14 (1.234,834) {1,239,492) Net assets 3,808,998 3,848,825 Income funds Restrlcted funds Unrestricted funds Designated funds General unrestricted funds M8mbgrs' guarantee r8sarve 18 278,877 307,669 19 3,081,971 448,146 3,122,837 418,315 3,53Q,121 3,541,156 3,808,998 3,848,825 These financial stat6ments have been prepared In accordance with the provisions applicable to companies Subject to the small companies, regim8. Th8 financial statements wer& approved by the trustees on 25 June 2024 TIM Wlnfleld Trustee Company Reglstratlon No. 3445897 -25-
VERSO VINEYARD CHURCH LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operating actlvltles N8t cashflow from op&ratlon8 25 135.490 208,856 Investlng actlvltles Purchase of tangible fixed assets Interest received (711,000} 560 8,578 Nat cash generated froml{used In) investing activities 8,578 1710,4401 Financing activities Repayment of borrowlngs A¢crued Interest added to bank loan Interest on flnancing (21,576) 17,664 {86,306) {30,943) 485,498 (33,010} Net cash (used In)Igenerated from financing activities 190.218) 421,545 Net Increasel{decrease> In cash and Cash gquivalents 53,850 {80,0391 Cash and cash aquival8nts at beginning of y8ar 750,318 830,357 Cash and cash equlvalents at end of year 804,168 750,318 -26-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policle8 Company Informatlon Verso Vin@yard Church Limit8d is a prlvate charitsble company limited by guarant8e, incorporated in England & Wales. The registered office is 7 Brick Knoll Park. Ashley Road, StAlbans, Hertfordshire, AL15UG. 1.1 Accounling conventlon The financial statements have been pr8pared in accordance wlth the charlty's memorandum and articles of association, the Companles Act 20Q6 and "Accounting and Reporting by Charitie8,' Statement of Recommended Practice applicable to chariti88 preparlng thelr accoun18 in accordance with the Flnanclal Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102)" las amended for accountlng pericds comm8ncing frorn 1 January 2019). The charity is a Publlc Benefit Entity as defined by FRS 102. Monetary amounts In these financlal statements ar8 rounded to the nearest £ sterling, the functional currency of the church. The financial staloments have been prepared on the historical CDSt conventlon, modified when requir8d to Include the revaluation of fr8ehold propertlgs and to include Investment prop8rti88 and cartaln financlal Instruments at falr value. The prlnclpal accounting polici88 adopt8rJ are set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the church has adequate r8sources to contlnue In operats'onal exlstence for th8 fores88abla future. Thus the truste&s continue to adopt the going concern ba818 of accounting in preparing the flnancial statements. 1.3 Income Income is recognised when the church is legally entitled to it after any perfomiance conditions have been met, the amounts can be measured reliably, and it is more likely than not Ihat income will be received. Cash donations are recognised on receipt. Olher donations are recognised once the church has been notifled of the donation, unless perfomiance conditlons require d6f8rral of th8 amount. Income tax recoverab18 in relatlon to donations recaived under Gift Aid or deeds of covenant Is recognised at the time of the donation. L8gaci8s are r8cognis8d on recelpt or otherwise If the church has been nolifi8d of an Impending dlstdbution, the amount Is known, and recèipt is more likely than not. Volunteers make a significant contribution lo the actlvlti8s of tha charitable company In every area of rts work. In th@ absence of a reliable measurement basis however this contribution is not included as Income in the tlnanclal statements. Material donatlons of goods ar& recognised only on thelr distribution and ara valued at 8Stimated retail value. Income from charitab18 aclivilies prlmarily amounts recelved in respect of organis@d actlvltles. Incom8 from other trading activitles primarily relates to income rec8ived from us8 of the building by third parties. Investment incom8 r8lat8S to Int8r8st eamed on cash balances, 1.4 Expenditure Exp8nditure is accounted for on an accruals basis, Inclusiv8 of VAT, which cannot be recovered. Certain expenditure is directly attributable to specific actlvlties or projects and has been allocated accordingly. Shared costs whlch contribute to more than one activity ar8 apportion8d between those activltles. Princlpal 8Stitnation techniqLJ88 Utilised to apportion costs include the proportion of staff time and prgmlses utilised for each a¢tlvity, 1.5 Ponslon costs The charity op8rates a d6fingd contrlbutlon plan for the benefit of its &mployees. Contrlbutlons are expensed as they become payable. -27-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polici65 (Contlnued) 1.6 Tanglble flxed assets Tangible fixed assets are initlally measured at cost and subsequently measured at cost or valuation, net of depreclatlon and any Impalrment losses. Depreciatlon is recognised so as to wrlte off the cost or valuatlon of assgts18SS their rgsidual valu8S OV8r th8ir US6ful Ilves on the followlng bases,. Fr88hold buildlngs Equipment Fixtures & Flttlngs 50 years on cost 25/0 on cost 250/r* on cost Th6 galn or loss arising on the dlsposal of an asset Is determlned as the diffgrgnce bats88n tha sale proceeds and the carrylng value of the asset, and is r8cognis8d in Ihe statement of financial activities. Items of equipment ar8 capitalised where the unlt cost of the purchase exceeds £5,000. 1.7 Stocks Purchased stocks ar8 Stated at the Iow8r of cost and estimated selllng prlce less Gosts to sell. Donated goods are valued only whan distribut&d 8nd Ih8r8for8 slocks of donated goods are not shown as havlng any value for accounting purposes. 1.8 Debtors Trade and other debtor8 are recorded at cost, les5 any Impairment. 1.9 Cash and cash ¢qulvalents Cash and cash equivalents Includ& cash in hand, deposlts held at call with banks, other short-term Ilquld investments wSth origlnal maturities of Ihree months or less, and bank overdrafts. Bank overdrafts ar8 shown within loans In Gurrant liabilities. 1.10 Credltors Trade and oth6r current creditors ar8 stated at cost, Non-Gurrent creditors are r6Gorded at fair value on initial r8cognttion and subsequently at amortised cost. 1.11 Charitable funds Unrestricted funés are available for uge at the discretion of the trustees in furtherance of thelr charftable objectives. Unrestricted designated funds are funds sel aside out of unr8Stricted funds by the trustees for specific purpos&s. Restricted funds are subject to speclfl¢ conditions by donors as to how they may be used. The purposes and us&s of the restricted funds are 8et out In the notes to the finanGlal statements. Further explanatlon of natura and purpose of each deslgnated and restricted fund is Included In notes to the financial statements. -28-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles (Contlnued) 1.12 Employ08 beneflts The cost of any unused holiday entitlement Is recognlsed in the perlod in whlch the employee's $grvlc9s are recelved. T8rminallon benefits are recognised immedlalely as an expense when tha churth Is demonslrably commltled to terminal& the employment of an employee or to provide t8rminatlon benefits. 1.13 Leases Rentsls payable under operatlng leases, including any lease incentlves received, ar& charg6d as an expense on a straight Ilne basis over the term of the relevant lease. 1.14 Fundraising The organisation carri8S Out fundraislng activities whlch has r8sulted in signlficant Income being received from this. Tho approach takenls asking m8mbers ofthe congregation to make r6gular donatlons as well as one off contributions for special events and projects. No professional fundraislng company is us8d and no specific fundralslng targetlng Is undertak8n. Donatlons and legacies Unrestrl¢ted Deslgnatad Restrlcted funds funds funds Total 2023 Total 2022 Donations under GiftAid Grants Gift Aid r8coverable Other donations 605,817 59,460 54,053 20.000 13.513 366,534 719.330 20.000 179,832 671,250 598,006 151,454 292,085 14,865 12.631 149,501 730,163 1,049.356 86,956 454,100 1,590,412 1,477.670 The Beatrice Laing Trusl gave £20,OOD to the Church towards Chlldren and Youth Ministries. Thls grant has been largely been utilised in th8 treasure chest room to provid8 Specialist equipment to support work with children wilh speclal needs other tradlng actlvltles Unrestrlctod Unrestrlcted funds funds 2023 2022 Income from bullding hlre 23,423 18,725
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Investments Unr•strlcted Unrastricted funds funds 2023 2022 Interest recelvable 8.578 560 -30-
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VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Nel movemonl in funds 2023 2022 Tha nel movement In funds Is stated aftgr charglngl{Gredltlng): D&preclation of owned tangible flxed assets 103,683 94,203 Employees Th8 average monthly numb8r of employees during the year was.. 2023 11 2022 10 Direct charitable work Managem&nt and administration 19 17 2023 2022 Wages and salaries Social security costs P8nsion costs 613,527 49.996 23.204 530.670 45,739 19.026 686,727 595,435 No employee earned mor& than £60,000 per annum, ejxcept Mr M Helvadjlan as disclosed in Note 7 below. The church's M8morandum of Association permits th8 remuneration of Mr M Helvadjian. who Is a trustee. No oth¢r trustee received any remuneratlon. Trustees Remuneration was paid lo trustees who are employad to carry out speclflc operational roles for the company and to key manag@ment personnel as follows,. Salary Penslon 2023 2022 Mr M Helvadjian Mrs S He1Vad]an Other key management 80,762 3,135 36,142 3,071 125 1,445 83,833 3,260 37,587 78,107 36,669 120,039 4,641 124,680 114,776 Trustees, expenses A total of £529 was pald to a trustae and one of the key man8gem@nt durlng the year (2022:£570), relating prlmarily to reimbursoment of adrninistrative costs. -33-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Taxation The charity is exempt from taxation on Its aGtivitles because all ils incorne is applied for charitable purposes. 10 Tanglble fixed asset8 Freehold buildlng8 Equipment Fixtures & Flttings Total Cost At 1 January 2023 5,284,722 132,492 135,078 5,552,290 At 31 December 2023 5,284,722 132,4g2 135,076 5,552,290 Depreciatlon and impairm6nt At 1 January 2023 Depreci8ts'on charged In the year 903,803 93,897 120,657 9,986 135,076 1,159,536 103,683 At 31 Decamb8r 2023 997.500 130.643 135,076 1,263,219 Carrying amount At 31 Decemb8r 2023 4,287,222 1,849 4,289,071 At 31 December 2022 4,380,919 11,835 4.392,754 The cosl of fr88hold buildings includes land of £600,000 which is not subjecl to deprecialion. 11 Stocks 2023 2022 Books 3,807 3.841 12 Debtors 2023 2022 Amounts falling due wlthln one year: Glft ald recoverable Accrued income Prepayments 10,538 8,816 22,308 10,637 17,128 15,288 41.662 43,053 -34-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Credltors.. amounts falling due wlthln one year 2023 2022 Loans Other taxatlon and soci81 s6curity Deferr8d income Other creditors Aceruals 31,170 16,804 6,199 10,371 30,332 30,424 9,985 8,411 5,320 47,509 94,876 101,649 14 Creditors: amounts falllng due after more than on¢ year 2023 2022 Loans 1.234,834 1,239,492 1,234,834 1,239,492 2023 2022 payable within one to two y8ar P8yabl8 withln two to flve year payable more than five year 75,304 158.629 1,ODO,901 54,047 174,828 1,010,617 1,234.834 1,239,492 The charitable company has two bank loans, bolh loans are s&cured on the prop@rty known as e & 7 Brick Knoll Park, Ashlay Road, St, Albans, Herlfordshire,AL15UG. The first loan was renewed in January 2020 in the sum of £880.000 r@payable ov8r 20 years. In 2023 Interest on the loan has varied between 5°A 2nd 7.25¢/0 (2022: 2.75% to 4.75/0). Capltal repayments are b9ing made monthly and full repayment of the loan is expected by January 2040. A second loan was initially taken in January 2022 for 12 months on an interest only basls. At term, thls loan was r6negotiated as a repayment loan over 20 ygars with full repayment expected by January 2042. The nterest accrued was added to the loan balance to total approxlmately £503,OOQ. In 2023, the Interest rat8 applicable to th18 loan varied b&een 60/0 and 7.75 /0. 15 Operatlng lease commltments At th8 rgporling end date the charity had outstanding commitments for future minimum lea88 payments under non-cancallable opgratlng leases, which fall due as follows,. 2023 2022 Wtthin one year etween and five years 3,160 11,096 3.792 13,150 -35-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Operatlng lease commitments (Contlnuod) 14,256 16.942 16 Analysls of net assets between funds Unre8trict6d funds 2023 Resln'cted funds 2023 Total 2023 At 31 Dec8mb&r 2023: Tangible assets Current assetsl(Ilabi5ities) Long term liabilities 4,289.071 475.884 (1,234,834) 4,289,071 754,761 (1.234,834) 278,877 3,530,121 278,877 3,808,998 Per balance sheet Balance to allocate 3,530.117 (4) 278,877 3,808,994 (4) Unrestrlcted funds 2022 Restrlcted funds 2022 Total 2022 At 31 December 2022: Tangible assets Current assetsl(liabilities) Long t6rm liabilitles 4,392,754 695,563 (1,239,492) 4,392,754 695,583 (1,239,492) 3,848,825 3.848,825 P8r balance sheet Balanco to allocate 3,541,152 {307,673) 307,669 307,669 3,848,821 {4) -36-
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VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Restrlcted funds Th8 r8strict8d funds of the charity comprlse the unexpended balances of donatlons and grants held on trust subjeGt to speciflc condltlons by donors as to how thay may ba used. Movement In funds In¢om¢ Expondltur• Balanc6 at 1 January 2023 Transfers Balanc8 at 31 December 2023 Verso Care Fund (formerly Care Centre Fund) Verso Care Fund -stsfflng Verso Care Fund <apital Reach Fund Family Fund Crisls Fund Transitions Fund 245,459 77,420 114,079 (206,5501 181,550 25,000 2,250 181,550 25,000 54,982 13,850 564 681 59,425 59.009 3,519 1,862 10,444 63,452 1,150 1,098 9,763 11,481 2,785 {2,7851 307,669 152.054 189,542 8.896 278,877 The Verso Care Fund (formerly the Care Centr8 Fund) relat@s to income r8c8ived by the charltabl& company for th8 ongoing r8sourcing and work of Verso Care.The trustees have set aside £181,550 of the Verso Car8 Fund specifically for the provision of future staff costs to provlde contlnutity of operatlons and growth in the sarvic8s offer8d by Verso Carg in the short to m8dium term. The truste&s hav8 also s8t aslde £25,000 for th8 capitsl development of facllltles {subJect to raislng additional funds}, These provlsions mltlgale agalnst gener81 economlc uncertainty and th8 potential impact this may have on income levels by providing for the most significant operatlonal cost of Verso Care and enabllng capltal fundralslng.These balances will be subject to annual review by the trustees. The Reach Fund was launched In 2022 and relates to incom& received for projects and acllvltles to enable the 10-year vlslon of oulreach and expansion, and includes investment in and expansion of existing facililies as well as new sit6s across the region. Included In Reach Fund Income for the year Is a grant of £20,000 from The Beatrica Laing Trust to resource the development and ministry of Venlure land and Treasure Chest. The Family Fund was launched thls year for donatlons to support church members facing financlal hardship, Access to flnancial support is through application, and pastoral or Verso Care support may also be offgrgd. The Crisis Fund was launched to respond to International crisis appeals supported by the Church as th8y aris@. Appeals are mad8 to the congregatlon for donations when the need arlses and th8 donation amount and re¢ipients are declded by the leadership basad on curr8nt neéds and the balance of the Crisis Fund. The Tran51tion8 fund relates to income received which is later passed on to its intended thlrd party e.g. misslon Irlps, conferenGe tickets elc.. -38-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 D8signat8d funds The unrestricted funds of the charity compris8 the unéxpended balances of donatlons and grants which ar8 not subject to specific Gondlllons by donors and grantors as to how they may be used. These Include designated funds which hav8 been set aslde out of unrestricted funds by the trustees for sp8cific purposes. Movement in funds Incomg Exp•ndlture Balance at 1 January 2023 Transfers Balancg at 31 D•comber 2023 Building fund Fixed asset fund Oth8r designated Fund 3,111,002 11,835 (89,784) (9,986) 3,021,218 1,849 58,904 86,956 (28,052) 3,122,837 86,956 {28,052) {99,770} 3,081,971 The bulldlng fund represents the net book v8lu8 of th8 building 18ss Iha oulstandlng mortgage loans secur6d on that propety. Transfers are to ¢orrectly reflect the value after adjusling for addltions, d8preGiation and repayments on loans. Th8 fix8d 8S8et fund repr8s8nts the net book value of the other fixed assets owned by th8 charity. Transfers are to ¢0e¢t1Y reflect the year end value aft6r adjusting for additions, disposals and depreciatlon. A small number of donation were d8signated by Ihe 18adarshlp to fund additional staff costs required to support the gr0h the church has seen over the year. This growih is 8xpected to continue in the future. 20 Panslons The charitable company Dff8rs a defined contrlbutlon penslon scheme to its employ&8s and makes contributions to thls pension scheme on behalf of its employees. The scheme Is open to all qualifying employaas and gnrolment in the scheme is optlonal. The contributions payable for the sch8me for the period are charged in the income and expenditure account. There was no balance outstandlng at the year end (2022.. £nill. 21 Capltal commltm8nts The authorised capltal COMMMents at 31 December 2023 Is Nll12022'. Nil). 22 Conting8ncles There were no contlngent liabilltles at 31 December 2023 {2022.' £nil). 23 Ultimate controlling party There is no ultimate controlling party. Related party transactions Donations from Irustees, and other senior manag8m8nt during the year were £32,264 (2022., £21,255}. There were no olher related party Iransactions during the year requiring disclosure except as mentioned in note 7. -39-
VERSO VINEYARD CHURCH LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 25 Nal ca$hflow from op8rafions 2023 2022 (D6fflclt}Isurpus for th8 year (39,827) 38,352 Adjustments for., Investment Income Depreclation and impainnent of tanglble fixed assets Interest on financtng {8,578) 103,683 86.306 (560) 94,203 33,010 Movements In working capltal.. Decrease In stocks D8creasellincreas8) in debtors {DecreaseVincrease In credltors 34 1,391 (7.519) 138 (2,425) 46,139 Net cashflow from operations 135,490 208,857 26 Analysis of changes in net {debt)Ifunds At 1 January 2023 Ca8h flows Loan faclllty At 31 Dacombgr Ghargets 2023 Cash at bank and in hand 750,318 53,850 804,168 Borrowings due within one year Borrowlngs due after more than one year (30,424) (1,239,492) 1746) 5.158 (31,170} (500) (1.234,834) (519,598) 58,262 (500) (461,838) -40-
Versovineyard Church Limited Financial Activlties for the Verso Care Fund fortheYearEnded31 December2023 2023 2022 INCOMEAND ENDOWMENTS Donatlonsand legacies Value of donated it8ms Donations under Gift Ald Gift Aid recoverable Other donations and grants Verso Care Fund Family Support (Including Refuel and KIT) Bridge programme 302,045 29,520 7,380 365,141 49,500 12,375 29,616 9,973 931 84,585 700 1,483 Totsl incomlng resources 379,465 463,784 EXPENDITURE Charitable activities Value of donated item8 Staff costs Verso Car6 costs Family Support costs (including Refuel and KIT) Brldge programme costs Overhead contribution 302,045 70,804 4,835 6,839 1,602 30,000 365,141 55,451 8,479 4,214 3.333 27,000 Total Ye8ources expended 416,125 463,618 Net income {36,659) 168 In 2023 the Verso Care Fund madeacontribution of £30,000 toward overheadcosts (2022: £27.000) MOVEMENT IN FUND Unallocated Fund Verso Care Fund brought forward Allocated for staff costs Allocated for capltal costs Movement in fund 245,459 (181,5501 (25,0001 (36,659) 245,293 166 Verso Care Fund lunallocat6dl carried forward 2,250 245,459 Allocated Fund Verso Care Fund- staff costs 181,550 Verso Care Fund- capital 25,000
Theverso Care Fund Iformerlythecare Centre Fund) relatesto Income recelved bythecharitablecompany for the ongoing resourcing andworkofverso Care. The trustees havesetasid&£181,550 ofthe Vorso C8re Fund speclflcallyforthe provtsionoffuture staff costs to provlde contlnuityof operationsand growth In the servl¢esoff8rgd byV8rso cere In the short to medlum term. Thetrustees havealso set aside£25,OOOforcapital developm9nt of facllltles (subject to raising addStlonal funds). These provisions mltigate agalnst general economlcuncertaintyand the potenttal Impact this may have on income leveSs byproviding forthe most signlficantoperational cost of Verso Care and to enablefurther fundraising forcapital development. Th& balances setasidewill be reviewed annually.
2023STATS WE GAVE FOOD & NON FOOD Verso Care provided families, couples and individuals with 459 food & non food parcels as well as supporting 23 .¢:._- other charities. In addition, 3,348 essential items have been supplied to Asylum Seekers and Refugees. 26,219 Items donated to other charlties PARTNERSHIP WITH ST ALBANS FOODBANK 2,853 Adults and chlldren providèd wlth lood As a result of collectively working with other organisations within St Albans we have supplied 1173 essential emergency food parcels. BRIDGE MENTORSHIP PROGRAMME 1,664 Mentor htsurs provided Currently 42 mentees have signed up to the programme with 7 mentors, resulting in 949 visits to the Verso Care shop. KIT CLOTHING & EQUIPMENT 6,706 Guests are able to request clothing, shoes, essential equipment & gifts that have been donated, including school uniforms. A total of 30 'Life Boxes, were provided to the Women's Refuge. ems provided REFUEL MEALS 566 Mea15 serviced ,,Y,,' In order to address'holiday hungerf we ran 12 Refuel sessions providing hot meals and activities for local children from struggling families during the school holidays.
CHRISTMAS 2023 CHILDREN'S GIFrs 1,220 Guests were able to chose one main present and several stocking fillers. We also donated 722 Christmas extras such as wrapping paper, cards and gift bags. Glfts GOODIE BAGS 103 Essential Christmas bags were given to clients containing items they might t need for Christmas along with 127 Advent calendars. Goodie Bags FESTIVE FOOD PARCELS 23 Fresh food parcels were given out to families, couples and individua15 on Christmas Eve which contained everything for Christmas day lunch. Parcels ANGEL TREE GIFr 70 Christmas is very difficult for children of prisoners. The Angel Tree programme allows the bond between parent and child to continue and grow., Angels CHRISTMAS DAY MEAL 55 rf* Over the last 15 plus years Verso Care have provided a hot festive meal for families, elderly and the lonely in our community. Festive m•als Serviced