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2020-12-31-accounts

Annual Report New Wlne Trust Trust•es Annual Report and Accounts for year •nd•d 31 D•c•mb•r 2020. Newwine

r2• NEW WINB TRUST- TRUSTEES ANNUALREPORT AND ACCOUNTS 2020

CONTENTS

Our Vision

02

Trustees’ report

Our Vision
Trustees’ report		 02
1.Reference and administration 03
2.Registeredofficeand professional advisors 04
3.Structure, governance andmanagement 05
4.Objectives and activities 09
5.Achievements andperformance 11
6.Financial review 14
Statement ofTrustees’ responsibilities 16
IndependentAuditor’s report 17
Accounts 20
Consolidated statement offinancialactivities 21
Consolidated and charity balancesheets 22
Consolidated and charity statement ofcashflows 23
Notes to theaccounts 24

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

1

Our Vision is to see local churches changing nations.

We want to encourage a renewal of all things by uniting church members and their leaders, to understand and agree their vision so that, together, all individuals can work towards a new way of being God’s people.

We want to provide an effective way of engaging with God and his kingdom for every generation, acknowledging existing culture and evolving appropriately.

We want to empower and equip leaders to live out and grow God’s kingdom by teaching Spirit and Kingdom principles that can be applied locally to meet the needs of their community and church family.

New Wine does not insist on or promote one way of doing things nor advise everyone to use the same materials. Instead, we acknowledge our similarities and teach principles, allowing others to decide the most appropriate way to apply them in their areas of mission.

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

The trustees, who are also directors of the charity for the purposes of company law, present their annual report and the audited consolidated financial statements for the year from 1 January 2020 to 31 December 2020.

The financial statements comply with the Companies Act 2006, the Charities Act 2011, the Charity’s Memorandum and Articles and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102) effective from 1 January 2019. The group results combine the results of the charitable company with the results of New Wine Resources Limited, a wholly owned subsidiary, which runs the trading activities of the trust. The subsidiary is not a registered charity.

REFERENCE AND ADMINISTRATION

TRUSTEES

COMPANY SECRETARY

Andrew Scott

Rev John Coles (Chair)

Mr Robert Camp

Bishop Jill Duff

Mrs Elizabeth Fell

Mrs Christine Fuller

LEADERSHIP TEAM

There are various leadership groupings under the direction of the National Leader: National Leadership Team, Regional Directors, and Heads of Ministry. These groups meet regularly separately, and altogether once a year. For more information see below under structure and governance.

Mr David Lynch

Mrs Sarah McHardie

NATIONAL LEADER

Paul Harcourt

Mr Mike Royal

Mr Ian Parkinson

EXECUTIVE DIRECTOR

Jules Morgan

Mr Patrick Dixon (Appointed 23 June 2021)

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

National Leadership Conference – Harrogate, March 2020

REGISTERED OFFICE AND PROFESSIONAL ADVISERS

REGISTERED AND PRINCIPAL

OFFICE

4a Ridley Avenue Ealing London W13 9XW

AUDITORS

Summers Morgan Sheraton House Lower Road Chorleywood Hertfordshire WD3 5LH

SOLICITORS

Morgan Lewis & Bockius Condor House 5-10 St Paul’s Churchyard London EC4M 8AL

BANKERS

Barclays Bank plc Pall Mall Corporate Banking Centre, 50 Pall Mall, London SW1A 1QA

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

4

United Breaks Out, July/August 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

New Wine Trust is a registered charity no. 1084415 and a company limited by guarantee, governed by a memorandum and articles of association. The charitable company’s registration number is 04126583. It was incorporated on 12th December 2000 and registered as a charity on 9th January 2001.

TRUSTEES

The trustees are all non-executive and are elected by the members. None of the trustees had any interest in the charity or its subsidiary. The trustees are conscious of the need for the trustee body to embrace a broad variety of skills and new trustees are considered in the light of their ability to contribute to the work of the trust. They are appointed by the members in accordance with the trust Deed and are provided with such background and training as is agreed to be appropriate on an individual basis. The Trust welcomed several new trustees during the year as part of its trustee rotation plans and to progress the vision of a trustee body which is more representative of the network we serve on the basis of gender, geographical location, ethnicity and churchmanship.

A finance and investment committee oversees the charity’s investments. It also reviews the financial policies and key financial plans prior to submission to the trustee board.

ORGANISATION

The charity is overseen by the non-executive board of trustees shown above which decides upon strategic and policy matters. Trustees meet around five times each year with one meeting usually on-site at one of the United National Gatherings. A governance review was completed in May 2018, with the aim of making

r ecommendations on how New Wine might strengthen its governance approach, including how this is worked out in organizational structures, roles and responsibilities, ways of

working and management processes. This was implemented in the period ending 31 December 2019.

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

5

RELATED PARTIES

The full-time Executive Director reports to the National Leader. Both of these key posts are supported by:

At the start of each year these individuals, except for the wider employed staff team, together with the Trustees participate in a strategic review and planning meeting as part of a two-day retreat. The same group also participate in a mid-year review meeting to monitor progress and consider any changes or corrective actions for the strategic priorities and direction of the charity.

New Wine has no formal association with other charities but works closely with several other Christian charities to share best practice.

PAY POLICY FOR SENIOR STAFF

The pay of senior staff is reviewed annually, along with that of the whole staff team and any pay rises take account of a range of factors including cost of living increases. Salaries have been benchmarked against pay levels within similar sized charities in Greater London. New Wine has a remuneration principles and policy statement which was updated and approved by trustees in December 2019. The statement is in accordance with the recommendations of the National Council for Voluntary Organisations (of which New Wine has membership). A People and Remuneration sub-committee regularly reviews all staff remuneration, contracting and welfare. Of material relevance for 2020, all staff, including senior staff, received a 1.5% pay award and the organizational pay ratio of highest to median salary is 2.2:1.

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

United Breaks Out, July/August 2020

RISK FACTORS

The trustees consider the major risks to which the charity is exposed and ensure that adequate systems are in place to mitigate exposure to these risks. 2019 saw a review of the risk policy and procedures in place to ensure they continue to meet the needs of the charity.

The following are the key risks assessed as the most significant for the charity :

  1. Loss of key staff. We do not hold key person insurance. However, we do structure ourselves so that responsibilities are spread across a wide number of key positions. Staff contracts are generally on two months’ notice to allow a smooth handover and some more senior key staff contracts require three months’ notice. The Executive Director’s contract has been increased to six months’ notice and the National Leader is on a 3-year renewable term of office allowing for good succession planning. Desk top procedures in key functions are also being updated to mitigate this risk.

  2. Cancellation of the United Gatherings at short notice due to unforeseen circumstances. The global Coronavirus pandemic brought this into sharp relief, with powers given to Local Authorities to prevent or close events on grounds of public health or impact on key services, compounded by insurance exclusions for all losses arising from communicable disease. The current reserves policy requires the trust to hold sufficient funds to cover committed costs in the unlikely occurrence that we would have to cancel our summer events and issue refunds.

  3. Longevity of suppliers and volunteers. During 2019 and 2020, a complete review and update of contracts and service level agreements with suppliers was conducted to ensure that services were still fit for purpose, and contracting was sufficiently robust. Similarly, volunteer agreements were updated and issued and volunteer policies and training were improved and updated.

  4. Risks posed by the increasing role of IT in all aspects of the trust’s activities. Every six months we carry out a full risk assessment and impact analysis report with actions regularly put in place to mitigate high risk areas.

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

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The trustees acknowledge that they are responsible for the maintenance of an effective system of internal control. However, no system of internal financial control can provide absolute assurance against material misstatement or loss. The trustees have considered the major business risks and control objectives relevant to the trust and controls were found to be appropriate and generally satisfactory. As part of an overall and continuing drive for quality, an ongoing review of internal controls is addressing those areas where controls may be improved. The trust’s control objectives include:

SUBSIDIARY

New Wine Resources Limited is a 100% owned subsidiary of New Wine Trust and was incorporated on 17th October 2001. It exists to manage the commercial activities linked to the charity (including publishing books, music and the spoken word, selling advertising space in the conference programmes, running cafes and renting space in the Market Place at conferences). It also provides a jobs board for organisations wishing to recruit new staff. The subsidiary pays all of its profits to the charity by way of a gift aid donation.

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

OBJECTIVES AND ACTIVITIES

CHARITABLE OBJECTS AND PUBLIC BENEFIT

New Wine has three core charitable objectives which are:

  1. to promote for the public benefit the advancement of the Christian Religion in England and, where invited, throughout the world;

  2. to equip churches to see Jesus’ Kingdom grow; and

  3. to see the nation changed through Christians and churches being filled with the Spirit, alive with the joy of knowing and worshipping Jesus Christ, living out his word, and doing the works of the Kingdom of God.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

We achieve these objectives by encouraging lives dedicated to expressing God’s love to individuals and communities throughout the country, and through like-minded groups in other countries as well. Through the outworking of these activities, we see lives changed for good in spiritual, moral, ethical and practical ways. This includes relationships restored (within families and marriages), healing, both physical and spiritual, encouragement and support when experiencing difficulties, comfort to the bereaved or grieving, hope generated and a framework for life. We see people turning away and freed from damaging lifestyles including drug and alcohol dependency, pornography, gambling, bitterness and resentment, anger and violence, depression and despair and new life being generated in their place.

The United Gatherings are New Wine’s major annual activity. At these, amongst other things the charity;

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

In other areas New Wine offers:

1,500+

attending National Leadership Conference in 2020

‘My local Leaders Network gather, share, discuss, encourage and pray for one another. We really value and appreciate New Wine’s input into our lives, specifically the care and support of our Regional Development Manager.’

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

ACHIEVEMENTS AND PERFORMANCE

VOLUNTEERS

New Wine derives benefit from the services of unpaid volunteers whether the time is given by its’ trustees and members of the leadership team, or by the large number of individuals who assist with the running of conferences and other events. The United Gatherings in particular rely on many thousand volunteer team members, helping out in the areas of children and youth work, stewarding, hospitality and in a number of smaller specialised teams. We are so grateful for all those that use their gifts to support our work in these ways.

We estimate that more than 250,000 hours of volunteer work are contributed each year to help make our events a success. As there are children at the United Gatherings, we use the Disclosure and Barring Service and reference checks to screen volunteers and provide safeguarding training to all volunteers working with children and vulnerable individuals under a safeguarding policy which has an annual review.

REVIEW OF ACTIVITIES

The vision statement ‘Local churches, Changing Nations’ directs our strategy and planning. Its simplicity and challenge has caught the attention of both historic denominations and new church leaders; we are networking with an expanding breadth of denominations,

knowing that only by working together can we achieve this vision.

Jesus is the hope of the world and we believe the only way our communities will get to see, understand and receive that hope is through the local Church - as we live out his new life in our everyday lives!

With the prayers and support of our New Wine family throughout 2020, we’ve seen acceleration of church planting; church leaders supported and released to lead renewal in their churches; and generous investment into our future with increased provision for emerging young leaders, for our move to Peterborough as we seek to better serve the move of God across the nation, and further bursary places for urban churches and missionaries.

The United Gathering in 2020 was entirely digital due to the Covid-19 prohibiting a physically gathered event. We moved a 5-day programme of teaching, worship and ministry to an entirely on-line live streamed event. This was generously given as a free to access event, which attracted more than 56,000 people – our biggest attendance at a United gathering. Analytics from the streamed event showed >56,000 unique router devices tuned into the event (which may represent multihouseholds in many cases. We also had 470 volunteer community makers from local churches who helped local

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

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church members to gather creatively and access the digital ‘United Breaks Out’ event. Over 500 children viewed the United Breaks Out kids’ sessions and over 14,000 youth joined our Luminosity online youth event running as part of United Breaks Out.

56k

14k

Joining United Breaks Youth joining Out online summer Luminosity online gathering youth event

5k+

470

viewing United Breaks Community Makers Out kids’ sessions connecting members of local churches during online summer conference

100+

charities and organisations represented at New Wine events

New Wine receives many testimonies of the impact these events have on both the individual delegates and their local churches, when they return refreshed, energised and more aware of God’s plan for their role in the local church.

‘I really wanted to receive healing ministry for an injury, via an experienced leader, but God’s plan was quite different.

He used and encouraged my prophetic / pastoral / healing gifts in order that I would minister to others. This has renewed my purpose and has ignited my calling. I was full to overflowing and able to give it all away as God desired. I was truly blessed to be a blessing and this turned out to be the ‘healing’ I really needed. God is so, so good!’ (Leadership Conference 20)

Due to the global pandemic, most other events had to be cancelled or postponed in 2020. The events that could be held were:

‘When a picture from God was shared during United Breaks Out one evening, I felt like Jesus was speaking directly to me. It was about the work of transformation he is doing in me. The whole weekend was such an encouragement and the Holy Spirit ministered to me powerfully. Lots of tears and healing and empowering of the Spirit to keep going.’

(United Breaks Out 20)

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

The church leaders’ network continues to grow with over 2,700 members now; New Wine is providing invaluable support to local church leaders in their own contexts through 63 local area network groups as well as networking opportunities at larger conferences or gatherings.

Our Discipleship Year programme continues to flourish with 14 centres and over 80 interns on the programme for 2020/21. This programme continues to be extremely well received by churches and students alike. International ministry has been encouraged via an International Forum with 16 countries represented.

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2,739
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----- Start of picture text -----
63
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members of the network groups of New Wine local church Leadership Network leaders

83

Discipleship Year students in 14 hubs

Other achievements during 2020 include restructuring of the office team structures to give better support to the creative services and events-related activity; new book resources launched; the planning for a new youth event to be delivered alongside United in 2020 and early preparation for an event in 2021 to deepen the experience for youth leaders and future leaders.

100k+

monthly listeners to New Wine Worship on Spotify

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

FINANCIAL REVIEW

RESULTS

The results for the financial year are shown on page 21. The group’s net movement in funds shows a deficit of £71,965 (2019: deficit of £375,604). The charity’s operating performance is summarised on pages 21 to 23. The trustees’ responsibilities for the financial statements are described on page 16.

Whilst a deficit was anticipated and planned for, as we continued to refine the offering at our new “home” in Peterborough for the summer conference and to enhance the user experience, the global pandemic and restrictions on all in-person activities from early in the year, changed everything.

With the cancellation of the summer conference, anticipated income was reduced markedly. New Wine was extremely grateful that many delegates chose to donate part or all of the fees paid to support the ongoing work of the charity. Through their support, it was possible to provide a digital conference online “free to air” on the YouTube platform. The costs of production are captured within the conference expenditures, alongside deposits and cancellation payments made to our suppliers. Two generous grants were received from other charitable bodies and the government’s Coronavirus Job Retention Scheme was drawn upon to avoid the need for staff reductions, which would have seriously impeded the ability to plan and deliver future conferences.

REVIEW OF FINANCIAL POSITION

The trust continues to maintain a sound financial position, with cash reserves within the range considered by the trustees to be adequate for the group’s overall operations. In 2020 the net deficit before transfers and revaluations on unrestricted funds was £103,517 (2019: £462,612). Unrestricted undesignated income of £1,972,643 (2019: £4,077,908) arose as detailed in notes 2 to 5 – largely from conference fees - and unrestricted undesignated expenditure totalling £1,815,044 (2019: £4,301,077) was made during the year (note 10).

The unrestricted fund includes items designated by the trustees for particular purposes – notably fixed assets and funds for the future development of New Wine including church planting, the move to Peterborough and investing in the next generation of leaders.

Note 19 details the restricted and designated fund movements. The balance on restricted funds at the start of 2020 was £4,399 and on designated funds £888,022. The closing balances are £4,399 and £685,521 respectively.

The collections at previous United Gatherings for New Wine are included in the unrestricted fund and have supported the development of New Wine, including investing in younger leaders and encouraging church planting, the move to Peterborough and other church growth initiatives. There was a very generous collection for the benefit of New Wine in 2020 at the United B r e a k s O u t digital event. The closing balance on unrestricted, undesignated reserves was £739,278 (2019: £612,742).

The trustees consider that the market value of the assets and liabilities in the balance sheet are not materially different from those stated.

The trust’s subsidiary company, New Wine Resources Limited, traded profitably throughout the year and contributed £10,791 to the trust during the year (2019: £46,677).

RESERVES POLICY

New Wine is under a legal duty to apply charitable funds within a reasonable time of receiving them. It is also under an obligation to ensure that it is able to meet all its financial obligations as they fall due. In balancing these considerations, the trustees are aware that New Wine regularly commits itself to substantial expenditure for future conferences and events some time before they take place. They have formally adopted a policy to retain funds at a level that is sufficient to ensure that the charity’s financial commitments in promoting forthcoming conferences and events are fully covered at all times.

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

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GRANTS

The majority of grants paid out relate to restricted income and are distributed as soon as conveniently possible. The restricted income is derived from offerings taken at a number of the conferences which are usually to benefit other charities or to further the mission of New Wine and launch new initiatives.

INVESTMENT POLICY

The charity’s memorandum provides the Board with the power to invest monies not immediately required for its purposes in or upon such investments, securities or property as maybe thought fit, subject to such conditions and with such sanction as may for the time being be imposed or required by law.

In view of the significant cash flow variations that arise due to the seasonal nature of the trust’s activities, the trust holds its surplus funds on short term deposit with its bankers and on the money market. The trustees have also decided that up to £1million can be held in charitable investment funds with an expectation of a minimum 5 year term.

In selection of the funds, the investment committee consider and balance risks attached to asset managers, asset class and individual stocks.

by developing new delivery methods to maintain and deepen delegate engagement.

Sustainability and going concern are monitored carefully at a number of levels:

PLANS FOR FUTURE PERIODS

In addition to its usual programme of conferences and educational events, New Wine intends to continue to focus development in the follow areas:

The ethical stance of the charity is also a consideration.

GOING CONCERN

New Wine anticipated a financial deficit for 2020, due to the need to continue implementing structural changes for the summer conference. As noted in the 2019 Annual Report, management identified a need to balance the scale of expenditures to the income created, in order to be sustainable. However, the impact of Coronavirus from March 2020, shortly after the National Leadership Conference, radically changed the activities of the year.

The charity is confident in its role supporting the network of churches and event delegates throughout the year, not just for the summer conference. Whilst site-based conferences have been the usual method of delivery, the global coronavirus pandemic recognised by the World Health Organisation in January 2020, has challenged that model and New Wine responded

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

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TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The charity trustees (who are also directors of the New Wine Trust for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GAAP). Company law requires the trustees to prepare such financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the financial activities of the group for that period and which comply with UK GAAP, the Companies Act 2006 and the Statements of Recommended Practice issued by the Charity Commission in England and Wales. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company, for taking reasonable steps for the prevention and detection of fraud and other irregularities and for the preparation of a trustees’ report which complies with the requirements of the Companies Act 2006.

The trustees are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and that, where appropriate, the Director of Operations and their direct line reports are responsible for the maintenance and integrity of the corporate and financial information included on the company’s website.

STATEMENT OF DISCLOSURE TO AUDITORS

In so far as the trustees are aware at the time of our approving the trustees’ annual report:

AUDITORS

A resolution proposing that Summers Morgan be reappointed as auditors of the company will be put to the Annual General Meeting.

On behalf of the Board of Trustees

John Coles (Chair) Dated: 25 October 2021

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

INDEPENDENT AUDITOR’S REPORT

OPINION

We have audited the Group financial statements of New Wine Trust for the year ended 31 December 2020, which comprise the Group Statement of Financial Activities, the Group and the Charity Balance Sheets, the Group and the Charity Statement of Cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We have conducted our audit in accordance with International Standards on Auditing (UK) (ISAs UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements i ~~s appropriate.~~

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group or the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

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Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’

responsibilities statement set out on page 16, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Group and the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Group or Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level

Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and noncompliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the members and management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities for the audit of the financial statements is located on

the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to 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 Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicholas Corden ACA (Senior Statutory auditor)

For and on behalf of Summers Morgan, Statutory Auditor

Chartered Accountants Registered Auditor Sheraton House, Lower Road, Chorleywood Hertfordshire

WD3 5LH

Dated: 25th October 2021

Summers Morgan is eligible to act as an auditor under section 1212 of the Companies Act 2006

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NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST Accounts NEW WINE TRUST-TRUSTEES ANNUALREPORT AND ACCOUNTS 2020 20

NEW WINE TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including consolidated income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2020

Note
Income from:
Donations and legacies
Donations
Love offerings at conferences
2
Income from charitable
activities
Conferences & networks
3
Income from other trading
activities
Commercial trading operations
4
Investment income
5
Total income
Expenditure on:
Raising funds
Commercial trading operations
4
Fundraising and publicity costs
8
Charitable activities:
Conferences & networks
7
Grants payable
6
Total expenditure
Net outgoing\ resources before transfers
and revaluations (net income /
expenditure
for the year)
Net gains/(losses) on
investment assets
13
Net movement in funds
Transfers between funds
Reconciliation of funds
Fund balances at 1 January
Fund balances at 31 December
19		 Unrestricted
Restricted
Total
Funds
Funds
2020
£
£
£
1,210,865
-
1,210,865
19,886
-
19,886
1,230,751
-
1,230,751
577,683
-
577,683
137,540
-
137,540
26,669
-
26,669
1,972,643
-
1,972,643
127,511
-
127,511
8,562
-
8,562
136,073
-
136,073
1,935,087
-
1,935,087
5,000
-
5,000
1,940,087
-
1,940,087
2,076,160
-
2,076,160
(103,517)
-
(103,517)
31,552
-
31,552
(71,965)
-
(71,965)
-
-
-
(71,965)
-
(71,965)
1,496,764
4,399
1,501,163
1,424,799
4,399
1,429,198		 Unrestricted
Restricted
Total
Funds
Funds
2019
£
£
£
200,273
-
200,273
431,008
238,149
669,157
631,281
238,149
869,430
2,765,007
-2,765,007
646,390
-
646,390
35,230
-
35,230
4,077,908
238,149
4,316,057
600,894
-
600,894
30,212
-
30,212
631,106
-
631,106
3,846,573
81
3,846,654
62,841
268,132
330,973
3,909,414
268,213
4,177,627
4,540,520
268,213
4,808,733
(462,612)
(30,064)
(492,676)
117,072
-
117,072
(345,540)
(30,064)
(375,604)
(25,655)
25,655
-
(371,195)
(4,409)
(375,604)
1,867,959
8,808
1,876,767
1,496,764
4,399
1,501,163

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. See note 10 for detail of prior year Statement of Financial Activities.

21

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

CONSOLIDATED AND CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Fixed Assets
Tangible assets
12
Investment property
12
Investments
13
Current assets
Stocks
14
Debtors
16
Investments
15
Cash at bank and in hand
Creditors: amounts falling due
within one year
17
Net current assets
Net assets
Income funds
Restricted funds
Unrestricted funds:
General funds
Designated funds
Total funds
19		 Group
2020
2019
£
£
94,539
139,695
-
-
520,297
688,745
614,836
828,440
21,667
28,114
163,153
191,008
-
455,000
912,868
1,265,348
1,097,688
1,939,470
283,326
1,266,747
814,362
672,723
1,429,198
1,501,163
4,399
4,399
739,278
612,742
685,521
884,022
1,429,198
1,501,163		 Charity
2020
2019
£
£
94,539
139,695
-
-
520,299
688,747
614,838
828,442
-
-
553,145
781,852
-
455,000
442,399
714,249
995,544
1,951,101
191,975
1,325,057
803,569
626,044
1,418,407
1,454,486
4,399
4,399
728,487
566,065
685,521
884,022
1,418,407
1,454,486

The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006.

The notes on pages 24 to 41 form part of these accounts.

The accounts were approved by the Board on 25 October 2021.

......................................................................... Sarah McHardie – Trustee 25 October 2021

22

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

CONSOLIDATED AND CHARITY STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Statement of cash flows
Cash flows from operating activities
Net cash provided by/(used in) operating activities
22
Cash flow from investing activities
Interest and rent from investments
Purchase of fixed assets
Proceeds from the sale of investments
Increase in short term cash deposits
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 Group
2020
2019
£
£
(993,102)
(397,830)
26,669
35,229
(41,047)
(197,250)
655,000
920,050
-
(30,000)
640,622
728,029
(352,480)
330,199
1,265,348
935,149
912,868
1,265,348		 Charity
2020
2019
£
£
(911,709)
(514,244)
25,906
34,049
(41,047)
(197,250)
655,000
920,050
-
(30,000)
639,859
726,849
(271,850)
212,605
714,249
501,644
442,399
714,249

23

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

NEW WINE TRUST

  1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation in the financial statements are as follows:

1.1. Basis of preparation

The financial statements comply with the

New Wine Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The trustees consider that there are no material uncertainties in respect of the charity’s ability to continue as a going concern and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

1.2. Basis of consolidation

These financial statements consolidate the results of the charity and its wholly-owned subsidiary, New Wine Resources Ltd (a company registered in England and Wales under number 04306296) on a line- by- line basis. A separate Statement of Financial Activities, or Income and Expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

1.3. Income and expenditure

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable the income will be received and the amount can be measured reliably; - specifically:

1.4. Donated services

Donated services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of the economic benefit from the use by the charity of the items is probable and that economic benefit can be measure reliably. In accordance with the Charities SORP (FRS 102) the volunteer time from the many thousands of volunteers noted in the trustees report is not recognised.

24

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

NEW WINE TRUST

Professional services are received ad hoc from our solicitors and this is recognised at the amount the charity would have been willing to pay to obtain services of equivalent economic benefit on the open

market; a corresponding amount is also recognised in expenditure.

1.5. Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Assets costing less than £1,000 are expensed rather than capitalised. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Leasehold Improvements 10% per annum on cost (over the term of the lease) Plant and machinery 33% and 50%

1.6. Investment properties

Investment property assets are freehold properties which are held on the Balance Sheet at their fair value.

1.7. Investment policy

The trustees can invest surplus funds and they have decided that up to £1million can be held in charitable investment funds with an expectation of a minimum 5 year term. In selection of the funds, the investment committee consider and balance risks attached to asset managers, asset class and individual stocks. The ethical stance of the charity will also be a consideration. The trust also holds surplus funds on fixed term deposit with its bankers on the money market as current assets.

1.8. Stocks

Stocks are valued at the lower of cost and net realisable value.

1.9. Cash at bank and in hand

This includes cash in hand and short term highly liquid deposits with a short maturity of three months or less from the date of acquisition.

1.10. Fund accounting

1.11. Support costs

Support costs are allocated between the principal activities of the trust for charitable activities, generating income and governance. Where costs are not directly attributable, the allocation is based on an estimation of the time spent or by reference to the income generated on the various activities.

25

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

NEW WINE TRUST

1.12. Pensions

The charity auto enrolled employees into the People’s Pension – a Defined Contribution Scheme (DCS) in April 2015. Previously it participated in the Church of England Defined Contributions Scheme (DCS), within the Church Workers Pension Fund. Employer contributions are accounted for on an accruals basis.

1.13. Deferred tax

No provision has been made for deferred tax on revaluation of investment property as charities are exempt from relevant taxes and so no tax would fall due on sale.

1.14. Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

  1. Income from donations and grants (there were no legacies)
ome from donations and grants (there were no legacies)
Unrestricted donations
Grants received
Designated donations
Restricted donations
Total donations		 2020
£
994,068
236,683
-
-
1,230,751		 2019
£
631,281
-
-
238,149
869,430

Included in the above amounts is £51,981 (2019: £82,900) gift aid recoverable. The majority of the donations are from individuals and are below £5,000 each. One donation of £250,000 was received during United 2019. Love offerings received at conferences, other than the specific charities restricted collections, were reclassified from designated to unrestricted funds from 2019.

Grants receivable included £111,683 from the government Coronavirus Job Retention Scheme, and two grants from charitable bodies sharing common objectives with New Wine. (£2019: £nil)

  1. Income from charitable activities
e from charitable activities
National gatherings
Less free of charge places and discounted places offered
Net National Gatherings
Other conferences
Training		 2020
£
389,093
-
389,093
146,037
42,553
577,683		 2019
£
2,575,349
(26,488)
2,548,861
140,421
75,725
2,765,007

26

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

NEW WINE TRUST

4. Income earned from other activities

Commercial trading activities of trading subsidiary

The charity owns 2 shares of £1 each in its wholly owned subsidiary New Wine Resources Ltd, which is incorporated in the United Kingdom, publishes Christian music and other resources

and pays all of its profits to the charity by way of Gift Aided donation. A summary of the trading results is below

results is below
Summary profit and loss account
Turnover
Cost of sales and administrative expenses
Interest receivable
Net income from trading
Donation to the Charity
Retained in the subsidiary
The assets and liabilities of the subsidiary were:
Fixed assets
Current assets
Creditors: amounts falling due within one year
Total net assets
Aggregate share capital and reserves
5.
Investment income
Interest receivable
Investment income
Property investment income		 2020
£
137,540
(127,511)
762
10,791
(10,791)
-
-
578,889
(578,887)
2
2
2
2020
£
3,318
23,351
-
26,669		 2019
£
646,390
(600,894)
1,181
46,677
(46,677)
-
-
710,980
(710,978)
2
2
2
2019
£
6,699
27,617
914
35,230

27

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

6.
Grants payable
Compassion
Hope into Action
Just Earth
Transforming Lives for Good
Church Planting
St Andrews High Wycombe
Gurnell Grove Community Trust
St Peters Brockley
Eden, Stockton

St Giles
Emmanuel, Loughborough
Imprint Church
Kahalia
Travel bursary for churches for transport to National Gatherings
Bodmin Road Church
St Paul's Oldham
St Brides Church, Old Trafford
St Pauls Church, Manningham
Credit Card Processing Costs supporting grant making		 2020
£
-
-
-
-
-
-
-
5,000
-
-
-
-
-
-
-
-
-
5,000		 2019
£
66,449
66,449
66,449
66,449
5,000
5,000
2,500
5,000
10,000
6,000
20,000
5,000
250
600
1,000
500
4,327
330,973

Grants payable are predominantly made out of restricted funds (see note 18). Attendees at the United Gatherings and some other conferences are invited to contribute to specific Christian charities selected by the Leadership Team. Those chosen have aims which are compatible with New Wine's overall objectives. No charities’ collection was taken in 2020 due to the absence of a physical gathering in the summer.

Additional travel bursaries were paid out of designated development funds in 2019. These relate to attendance at the summer conference, so did not arise in 2020

28

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

7.
Analysis of expenditure on charitable objectives
Leadership
Network &
Discipleship
Year Training &
National
Other
International
development
Gatherings
Conferences
Ministry
of New Wine
£
£
£
£
Unrestricted funds
Site costs/direct event costs
270,485
120,444
-
-
Teams & Activities
276,825
4,530
15,158
23,929
Marketing
16,752
85
7,785
199
Direct office costs
-
-
5,821
1,141
Governance Costs
34,669
7,687
1,768
1,553
Support costs
675,626
149,794
34,453
30,267
Total unrestricted
1,274,357
282,540
64,985
57,089
Designated funds
Salaries and related costs
-
-
232,366
23,750
Support costs
-
-
-
-
Total designated
-
-
232366
23,750
Subtotal – General funds
1,274,357
282,540
297,351
80,839
Restricted funds
Support costs
-
-
-
-
Total
1,274,357
282,540
297,351
80,839		 7.
Analysis of expenditure on charitable objectives
Leadership
Network &
Discipleship
Year Training &
National
Other
International
development
Gatherings
Conferences
Ministry
of New Wine
£
£
£
£
Unrestricted funds
Site costs/direct event costs
270,485
120,444
-
-
Teams & Activities
276,825
4,530
15,158
23,929
Marketing
16,752
85
7,785
199
Direct office costs
-
-
5,821
1,141
Governance Costs
34,669
7,687
1,768
1,553
Support costs
675,626
149,794
34,453
30,267
Total unrestricted
1,274,357
282,540
64,985
57,089
Designated funds
Salaries and related costs
-
-
232,366
23,750
Support costs
-
-
-
-
Total designated
-
-
232366
23,750
Subtotal – General funds
1,274,357
282,540
297,351
80,839
Restricted funds
Support costs
-
-
-
-
Total
1,274,357
282,540
297,351
80,839		 2020
Total
£
390,929
320,442
24,821
6,962
45,677
890,140
1,678,971
256,116
-
-
-
232366
23,750
1,274,357
282,540
297,351
80,839
-
-
-
-
1,274,357
282,540
297,351
80,839		 256,116
1,935,087
-
1,935,087

29

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

  1. Analysis of expenditure on charitable objectives (cont.)
Unrestricted funds
Site costs/direct event costs
Teams & Activities
Marketing
Direct office costs
Governance Costs
Support costs
Total unrestricted
Designated funds
Salaries and related costs
Support costs
Total designated
Subtotal – General funds
Restricted funds
Support costs
Total		 Leadership
Network &
Discipleship
Year Training &
National
Other
International
development
Gatherings
Conferences
Ministry
of New Wine
£
£
£
£
2,083,861
74,939
-
-
280,388
7,268
6,753
5,120
51,690
553
6,584
2,268
-
-
13,008
39,115
50,203
1,720
547
966
977,677
33,491
10,661
18,819
3,443,819
117,971
37,553
66,288
-
-
138,567
33,648
2,200
-
1,000
5,527
2,200
-
139,567
39,175
3,446,019
117,971
177,120
105,463
81
-
-
-
3,446,100
117,971
177,120
105,463		 2019
Total
£
2,158,800
299,529
61,095
52,123
53,436
1,040,648
3,665,631
172,215
8,727
180,942
3,846,573
81
3,846,654

Costs are allocated directly to an activity where possible and otherwise in the same proportion as the direct costs. Designated fund developments include investing in younger leaders and encouraging church planting, urban development and other church growth initiatives, and (for 2019) the move to Peterborough,

30

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. Allocation of governance and support costs

Audit
Other fees paid to auditor
Salaries and related costs
Depreciation
Office expenses & marketing
Total		 Charitable
Activities
support costs
Fundraising &
Publicity Costs
Charitable
activities
Governance
£
£
£
-
-
9,948
-
-
-
614,977
6,340
12,680
83,617
862
1,724
191,546
1,360
21,325
890,140
8,562
45,677		 2020
Total
£
9.948
-
633,997
86,203
214,231
944,379
Audit
Other fees paid to auditor
Salaries and related costs
Depreciation
Office expenses & marketing
Total		 Charitable
Activities
support costs
Fundraising &
Publicity Costs
Charitable
activities
Governance
£
£
£
-
-
10,374
600
-
1,000
746,322
9,447
15,424
89,081
1,083
1,840
204,645
19,682
24,798
1,040,648
30,212
53,436		 2019
Total
£
10,374
1,600
771,193
92,004
249,125
1,124,296

During the year the group paid their auditors £14,983 (2019: £15,539) for the audit of the group. Other support costs are allocated on the basis of time use.

31

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

  1. Summary analysis of expenditure and related income for charitable activities

This table shows the undesignated general fund costs of the four main charitable activities and sources of income directly to support those activities.

Analysis of support
Note
Income
3
Costs
7
Analysis of support
Note
Income
3
Costs
7		 Leadership
Discipleship
National
Other
Network &
International
Year Training &
development
Gatherings
Conferences
Ministry
of New Wine
£
£
£
£
389,093
146,037
-
42,553
(1,274,357)
(282,540)
(64,985)
(57,089)
(885,264)
(136,502)
(64,985)
(14,536)
Leadership
Discipleship
National
Other
Network &
International
Year Training &
development
Gatherings
Conferences
Ministry
of New Wine
£
£
£
£
2,548,861
140,421
-
75,725
(3,443,819)
(117,971)
(37,553)
(66,288)
(894,958)
22,450
(37,553)
9,437		 2020
Total
£
577,683
(1,678,971)
(1,101,288)
2019
Total
£
2,765,007
(3,665,631)
(900,624)

32

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

10. Detail of current year Statement of Financial Activities

General
Designated
Total
Restricted
funds
funds
Unrestricted
funds
£
£
£
£
Income from:
Donations and legacies
Donations
1,210,865
-
1,210,865
-
Love offerings at conferences
19,886
-
19,886
-
1,230,751
-
1,230,751
-
Income from charitable activities
Conferences & networks
577,683
-
577,683
-
Income from other trading activities
Commercial trading operations
137,540
-
137,540
-
Investment income
26,669
-
26,669
-
Total income
1,972,643
-
1,972,643
-
Expenditure on:
Raising funds
Commercial trading operations
127,511
-
127,511
-
Fundraising and publicity costs
8,562
-
8,562
-
136,073
-
136,073
-
Charitable activities:
Conferences & networks
1,678,971
256,116
1,935,087
-
Grants payable
-
5,000
5,000
-
1,678,971
261,116
1,940,087
-
Total expenditure
1,815,044
261,116
2,076,160
-
Net outgoing resources before transfers
and revaluations (net income / expenditure
for the year)
157,599
(261,116)
(103,517)
-
Transfer between funds
(31,063)
31,063
-
-
Net gains/(losses) on
investment assets
-
31,552
31,552
-
Net movement in funds
126,536
(198,501)
(71,965)
-
Reconciliation of funds
Fund balances at 1 January
612,742
884,022
1,496,764
4,399
Fund balances at 31 December
739,278
685,521
1,424,799
4,399		 2020
Total
Group
£
1,210,865
19,886
1,230,751
577,683
137,540
26,669
1,972,643
127,511
8,562
136,073
1,935,087
5,000
1,940,087
2,076,160
(103,517)
-
31,552
(71,965)
1,501,163
1,429,198

33

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

10. Detail of prior year Statement of Financial Activities

General
Designated
Total
Restricted
funds
funds
Unrestricted
funds
£
£
£
£
Income from:
Donations and legacies
Donations
200,273
-
200,273
-
Love offerings at conferences
431,008
-
431,008
238,149
631,281
-
631,281
238,149
Income from charitable activities
Conferences & networks
2,765,007
-
2,765,007
-
Income from other trading activities
Commercial trading operations
646,390
-
646,390
-
Investment income
35,230
-
35,230
-
Total income
4,077,908
-
4,077,908
238,149
Expenditure on:
Raising funds
Commercial trading operations
600,894
-
600,894
-
Fundraising and publicity costs
30,212
-
30,212
-
631,106
-
631,106
-
Charitable activities:
Conferences & networks
3,665,630
180,943
3,846,573
81
Grants payable
4,341
58,500
62,841
268,132
3,669,971
239,443
3,909,414
268,213
Total expenditure
4,301,077
239,443
4,540,520
268,213
Net outgoing resources before transfers
and revaluations (net income / expenditure
for the year)
(223,169)
(239,443)
(462,612)
(30,064)
Transfer between funds
(25,655)
-
(25,655)
25,655
Loss on disposal of property
(29,950)
-
(29,950)
-
Net gains/(losses) on
investment assets
-
147,022
147,022
-
Net movement in funds
(278,774)
(92,421)
(371,195)
(4,409)
Reconciliation of funds
Fund balances at 1 January
891,516
976,443
1,867,959
8,808
Fund balances at 31 December
612,742
884,022
1,496,764
4,399		 2019
Total
Group
£
200,273
669,157
869,430
2,765,007
646,390
35,230
4,316,057
600,894
30,212
631,106
3,846,654
330,973
4,177,627
4,808,733
(492,676)
-
(29,950)
147,022
(375,604)
1,876,767
1,501,163

34

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

11.
Staff costs
Number of employees
Average number of employees during the year
Wages and salaries
Social security costs
Other pension costs
Total staff costs		 2020
33
£
953,761
80,264
86,475
1,120,500		 2019
38
£
855,980
78,589
73,632
1,008,201

There was one employee whose emoluments (gross pay excluding pension and national insurance) was over £60,000 (2019: one). The total employee benefits paid to key management personnel (of which there were 2 in 2019) amounted to £94,706 (2019: £99,344). In addition, New Wine makes donations to several churches in recognition of the involvement of their own staff in the wider leadership team of New Wine.

The charity operated a Defined Contribution Pension Scheme provided by the People's Pension. The charity contributes 10% of basic salary with no requirement for the employee to contribute. The total employer contributions to this scheme for the year were £86,475 (2019: £73,632) with no contributions outstanding at the year end.

35

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

  1. Tangible fixed assets - charity
Summary for accounts
Cost
At 1 January 2020
Additions
Disposals
Revaluations
At 31 December 2019
Depreciation
At 1 January 2019
Charge for the year
Disposal
At 31 December 2019
Net book value
At 31 December 2020
At 31 December 2019		 Fixed assets -
Investment
Property
Tangible assets -
Leasehold
Improvements
Tangible assets -
Plant & machinery
£
£
£
-
487,342
527,408
-
-
41,047
-
-
-
-
-
-
-
487,342
568,455
-
487,342
387,713
-
-
86,203
-
-
-
-
487,342
473,916
-
-
94,539
-
-
139,695		 Total
£
1,014,750
41,047
-
-
1,055,797
875,055
86,203
-
961,258
94,539
139,695

The trading company did not own any fixed assets.

The investment property was sold in October 2019. Prior to this, it had not been valued by an independent Chartered Surveyor but had been valued by an estate agent on behalf of the trustees and valued at current market value at the relevant balance sheet date. The historical cost of the property was £326,600.

  1. Fixed Asset investments
CCLA investment fund
Market value at 1 January
Disposal proceeds
Unrealised gains/(losses)
Market value at 31 December
Historic cost		 2020
£
688,745
(200,000)
31,552
520,297
368,745		 2019
£
841,724
(300,000)
147,021
688,745
520,519

New Wine Trust holds 2 shares of £1 each in its wholly owned trading subsidiary company New Wine Resources Ltd., which is incorporated in the United Kingdom. These are the only shares allotted, called up and fully paid. The activities and results of this company are summarized in note 4.

36

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

14.
Stock
Group
2020
2019
£
£
Trading stock - books and resources
21,667
28,114
Stock is valued at the lower of acquisition cost and realisable value. All stock is owned
company.
15.
Current Asset investments – Group & Charity
2020
£
Cash on fixed term deposit
-

16.
Debtors
Group
2020
2019
£
£
Trade Debtors
102,264
59,728
Other debtors
10,043
37,151
Prepayments and accrued income
50,846
94,129
Amount due from subsidiary undertaking
-
-
163,153
191,008
17.
Creditors - amounts falling due within one year
Group
2020
2019
£
£
Trade Creditors
19,828
40,425
Other creditors and accruals
20,421
33,505
Income in advance
18
219,837
1,190,379
Taxation and social security costs
23,240
2,438
Amount owing to subsidiary undertaking
-
-
283,326
1,266,747		 14.
Stock
Group
2020
2019
£
£
Trading stock - books and resources
21,667
28,114
Stock is valued at the lower of acquisition cost and realisable value. All stock is owned
company.
15.
Current Asset investments – Group & Charity
2020
£
Cash on fixed term deposit
-

16.
Debtors
Group
2020
2019
£
£
Trade Debtors
102,264
59,728
Other debtors
10,043
37,151
Prepayments and accrued income
50,846
94,129
Amount due from subsidiary undertaking
-
-
163,153
191,008
17.
Creditors - amounts falling due within one year
Group
2020
2019
£
£
Trade Creditors
19,828
40,425
Other creditors and accruals
20,421
33,505
Income in advance
18
219,837
1,190,379
Taxation and social security costs
23,240
2,438
Amount owing to subsidiary undertaking
-
-
283,326
1,266,747		 14.
Stock
Group
2020
2019
£
£
Trading stock - books and resources
21,667
28,114
Stock is valued at the lower of acquisition cost and realisable value. All stock is owned
company.
15.
Current Asset investments – Group & Charity
2020
£
Cash on fixed term deposit
-

16.
Debtors
Group
2020
2019
£
£
Trade Debtors
102,264
59,728
Other debtors
10,043
37,151
Prepayments and accrued income
50,846
94,129
Amount due from subsidiary undertaking
-
-
163,153
191,008
17.
Creditors - amounts falling due within one year
Group
2020
2019
£
£
Trade Creditors
19,828
40,425
Other creditors and accruals
20,421
33,505
Income in advance
18
219,837
1,190,379
Taxation and social security costs
23,240
2,438
Amount owing to subsidiary undertaking
-
-
283,326
1,266,747		 14.
Stock
Group
2020
2019
£
£
Trading stock - books and resources
21,667
28,114
Stock is valued at the lower of acquisition cost and realisable value. All stock is owned
company.
15.
Current Asset investments – Group & Charity
2020
£
Cash on fixed term deposit
-

16.
Debtors
Group
2020
2019
£
£
Trade Debtors
102,264
59,728
Other debtors
10,043
37,151
Prepayments and accrued income
50,846
94,129
Amount due from subsidiary undertaking
-
-
163,153
191,008
17.
Creditors - amounts falling due within one year
Group
2020
2019
£
£
Trade Creditors
19,828
40,425
Other creditors and accruals
20,421
33,505
Income in advance
18
219,837
1,190,379
Taxation and social security costs
23,240
2,438
Amount owing to subsidiary undertaking
-
-
283,326
1,266,747		 14.
Stock
Group
2020
2019
£
£
Trading stock - books and resources
21,667
28,114
Stock is valued at the lower of acquisition cost and realisable value. All stock is owned
company.
15.
Current Asset investments – Group & Charity
2020
£
Cash on fixed term deposit
-

16.
Debtors
Group
2020
2019
£
£
Trade Debtors
102,264
59,728
Other debtors
10,043
37,151
Prepayments and accrued income
50,846
94,129
Amount due from subsidiary undertaking
-
-
163,153
191,008
17.
Creditors - amounts falling due within one year
Group
2020
2019
£
£
Trade Creditors
19,828
40,425
Other creditors and accruals
20,421
33,505
Income in advance
18
219,837
1,190,379
Taxation and social security costs
23,240
2,438
Amount owing to subsidiary undertaking
-
-
283,326
1,266,747		 Charity
2020
2019
£
£
-
-
by the subsidiary trading
2019
£
455,000
Charity
2020
2019
£
£
16,210
5,636
6,544
37,151
50,146
93,484
480,245
645,581
553,145
781,852
Charity
2020
2019
£
£
15,583
39,158
15,015
27,545
138,137
1,181,379
23,240
-
-
76,975



163,153
191,008
Group
2020
2019
£
£
19,828
40,425
20,421
33,505
219,837
1,190,379
23,240
2,438
-
-
283,326
1,266,747
191,975
1,325,057

18. Deferred income - Group and Charity

Deferred income comprises advance fee income for conference and events in the subsequent financial year and charity partnerships extending over 12 months.

charity partnerships extending over 12 months.
Total deferred income at 1 January
Amounts received/(refunds issued) in year
Amounts credited to statement of financial activities
Total deferred income at 31 December		 2020
£
1,190,379
(392,859)
(577,683)
219,837		 2019
£
1,199,681
2,755,705
(2,765,007)
1,190,379

37

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

19.
Fund details and other notes
General funds
Designated funds
Urban priority area bursary fund
Fixed assets
Development of New Wine
Total unrestricted funds
Restricted funds
Seed money
Our place		 Balance at
1 Jan 2020
Income
Expenditure
Transfers
and
unrealised
gains
£
£
£
£
612,742
1,972,643
(1,815,044)
(31,063)
-
-
-
-
139,695
-
(86,203)
41,047
744,327
-
(174,913)
21,568
884,022
-
(261,116)
62,615
1,496,764
1,972,643
(2,076,160)
31,552
4,399
-
-
-
-
-
-
-
4,399
-
-
-
1,501,163
1,972,643
(2,076,160)
31,552		 Balance at
31 Dec
2020
£
739,278
-
94,539
590,982
685,521
1,424,799
4,399
-
4,399
1,429,198

38

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

20.
Analysis of consolidated net assets between funds
General
Designated
Restricted
Funds
Funds
Funds
£
£
£
Fund balances at 31 December 2020 are
represented by:
Fixed Assets
520,297
94,539
-
Current assets
502,307
590,982
4,399
Creditors: amounts falling due within one year
(283,326)
-
-
739,278
685,521
4,399
General
Designated
Restricted
Funds
Funds
Funds
£
£
£
Fund balances at 31 December 2019 are
represented by:
Fixed Assets
688,745
139,695
-
Current assets
1,190,744
744,327
4,399
Creditors: amounts falling due within one year
(1,266,747)
-
-
612,742
884,022
4,399		 2020
Total
Funds
£
614,836
1,097,688
(283,326)
1,429,198
2019
Total
Funds
£
828,440
1,939,470
(1,266,747)
1,501,163
  1. Financial Commitments

At 31 December 2020 the company had outstanding commitments for future minimum lease payments under noncancellable leases which fall as follows:

cancellable leases which fall as follows:
Photocopiers
Future minimum operating lease payments
In less than one year
Between one and five years
Total
Land and Buildings
Future minimum operating lease payments
In less than one year
Between one and five years
Total		 2020
£
6,558
1,638
8,196
35,000
78,750
113,750		 2019
£
6,558
8,196
14,754
35,000
113,750
148,750

39

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NEW WINE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

  1. Reconciliation of movement in funds to net cashflow from operating activities
Net expenditure for the reporting period
Add back depreciation
Gains on investments
Dividends, interest and rents
Loss on sale of investment property
(Increase)/Decrease in stocks
(Increase)/Decrease in debtors
(Decrease)/Increase in Creditors
Net cash provided by/(used in) operating
activities		 Group
2020
2019
£
£
(71,965) (375,604)
86,203 92,004
(31,552) (147,021)
(26,669)
(35,231)
-
29,950
6,447 12,548
27,855 118,111
(983,421) (92,587)

(993,102) (397,830)		 Charity
2020
2019
£
£
(36,079)
(422,283)
86,203
92,004
(31,552)
(147,022)
(25,907)
(34,049)
-
29,950
-
-
228,707
(32,455)
(1,133,082)
(389)
(911,710) (514,244)

23. Notes to the consolidated cash flow movement

Analysis of the consolidated cash flow movement

Cash at bank and in hand
Total cash at bank and in hand		 At 31 December
2019
Cash flows
At 31 December
2020
£
£
£
1,265,348
(352,480)
912,868
1,265,348
(352,480)
912,868

24. Trustees

None of the trustees received any remuneration during the year for services as trustee. Travel and meeting expenses for all trustees amounted to £nil (2019: £295); no trustee received expenses to reimburse travel costs (2019: one trustees incurred expenses). No trustee received honoraria for speaking at the United National Gatherings in the year or prior year.

At the year-end there were no outstanding payments to trustees and their related parties for services other than as a trustee (2019: £18)

Aggregate donations received from the trustees or related parties without conditions was £1,212 (2019: £1,720)

40

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

NEW WINE TRUST

  1. Related party relationships and transactions

Royalty payments

During the year, no royalty payments were payable to Rev J and Mrs Coles (2019: £18) in connection with books authored by them.

Service provision

During the year, New Wine contracted with FreelyGive Ltd, a key supplier, for IT services. One of our trustees, David Lynch is a consultant for FreelyGive Ltd. He has declared an interest and excludes himself from any Trustee discussions related to this. In 2020 expenditure with FreelyGive Ltd was £60,996 (2019: £29,484).

26. Contingent Liabilities

No contingent liabilities were recognised at 31 December 2020 (2019: nil).

27. Events after the reporting date

The ongoing impact of a global pandemic has continued to impact the New Wine Trust programme of conference events and mode of operation, due to lockdowns preventing movement of staff and the restrictions placed upon numbers who may gather together. New Wine have reviewed the financial statements for 2020 and consider that these circumstances do not warrant any adjustment of values presented. The financial impact of the ongoing restrictions will be recognised within the financial statements of 2021, but no estimate of the financial effect can be made at the time of preparing and finalising these accounts.

NEW WINE TRUST – TRUSTEES ANNUAL REPORT AND ACCOUNTS 2020

41