2023-12-31-accounts

** Newwine Annual Report New Wine Trust Trustees, Annual Report and Accounts for year ended 31 December 2023. 'lI￿V650Y• A15

17

.' Ch6ri¢yP4g•ptiw ?OWIS COMPANIES HOUSE evjwwy R?913Thyhotii!th 04a265WJJFDgts.ndaryl".WM¢#. .-.:.:

NEW WINE'fRUST-'fKUSI"EES' ANNUALREPORT AND ACCOUNTS ?0)?

CONTENTS Our Vision 02 Trustees, report l. Reference and administration 03 2. Registeted office and professional advisors 3. Structure, governance and management 4. Objectives and activities 5. Achievements and perforn]ance 6. Financial review 04 05 10 12 17 Statement of Trustees, responsibilities Independent Auditor's report Accounts 20 21 24 Consolidated statement of financial activities 25 Consolidated and charity balance sheets Consolidated and charity ststement ofc&slifiows Notes to the accounts 26 27 28 NEW WINETRUST-TRUSTEES. AMNUALREPORT AND ACCOUNTS 2023

Our Vision is to see local churches changing nations The vision and reag)n for New Wine h¥ be•J ty ffjuip the local lo rtleas¢ wnfideni Spirit-filled digiples of Jesus. We to see.. Churthes filled with the presence and p)werof G(ML oveJf]owing with love aT¥J h¢)peto their rATrmmunities' Individual Ckn5tians know how to rnove in the of the SptriL making GLWJ knowi in their 5trcets and wor kplaces,. and, Relationally generous individua]s and Ch￿￿h¢S giving away 35 rnLKh as ty have receivd frvm God. We arr committed to makin8this vision a reality th￿8￿. Trwnin8 pcoplc in Holy Spirit ministy- A ne￿ork of rhurch Icadcrs aThd prnct1tits￿ wlK> model ourvalues and 8therously give away whatthey have received from God. Gathering #Tound a rhythm of yt4rly festival including national. regK)nal and IrKal events focu5s&1 on Spirit renewal, presenct-filled worship and biblical texhin& and, Individual, church. charity and business finan¢ia]ly supwrtourctharity so that our ￿rk can ¢ontinu¢. New Wine does not ins1St OD or promot¢ one way of doing things nor advis¢ everyone to use th¢ same m*¢rials. Instead. we a¢knowledge our similarities and teach principles, allowin8 Others to decide thc most appropriate way to apply them in th¢ir areas of mission. NEWWINE TRUST- fRusfEES' ANNUALREPORT AND ACCOUNTS 2023

TRUSTEES, REPORT The truslees. who are also directors of the charity for th¢ purposes of company law, present thetr annual report and the audited ¢onsolidaied financial statements for the year frDtn l January 2023 to 31 December 2023. The flnancial statements comply with the Companies Act 2006. the Charities Act 2011. the Charity's Memorandum and Articles and the Statemenf of Recommended Pra¢ii¢e appli¢able to cbarities preparin8 their accounts irt accordance wilh the Financial Reporting Stsmdard applicable in ihe UK IFRS1021 effective from l January 2019. The group results combine the results of the chari¢abl¢ ¢otnpany with the results of New Wine Resources LTmited, a wholly owned subsidiary, which run5 the tradin8 activities of the trust. The subsidiary is not a regis¢er¢d ¢harity. REFERENCE AND ADMINISTRATION TRUSTEES COMPANY SECRETARY Trustte5 scrvin8 during the financial period.- Andrew Scott Rev Preb John Coles (Chair until 20 June 2023. reshgned 2 August 2023) LE.4DERSHIP TEAM Rt R¢vd Dr Jill Duff (Chair frorn 20 June 2023) During ih¢ year there were various leadership groupings under ihe direction of the Naiion&l i£ader= a National t£adership Tearn. Regional Directors. and Heads of Ministry. These groups met iegularly separately, and altogether once a year. Mrs Elizabeth Fell (Resi8ned S December 2023) Mrs Christina Fullcr Mrs Sarah McHardic A ncw National Lcadcr was appoittted during the yew, following which changes were made. creaiing a scaled-batk transitionaj leadership group which has been developed through the year and into 2024. This is described under structure and governance 5CCtioTr. Revd Canon lan Parkinson Bishop Mike Royal The following Trustees were appointed on 20 June 2023= Mr Domit)ic Llewelyn NATIONAL LEADER Paul Harcourt (uniil 30 April 2023) Revd Canon John McGÉnley Rev. Richard Johnson (from l May 2023) Ms Yasmin Omotosho Mr William Oitewell Company Number- 04126583 NEW WINETRUST- TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023

ational eadership ' onference cl,J6-.1 new-wine.org/nlo23 Newwine JL N*iand 1￿C￿¥>Conferen[c- HaTfo8at¢, Fcbruory 2023 REGISTERED OFFICE AND PROFESSIONAL ADVISERS REGISTERED AND PRINCIPAL OFFICE AUDITORS Buzzacott LLP 130 Wood Street London EC2V 6DL 4a Ridley Avenue Ealing London W139XW BANKERS SOLICITORS Barclays Bank pl Pall Mall Corporate Banking Centr¢. 50 Pall Mall. London SWIA IQA Morgan Lewis & B(￿kiuS Condor House 5-10 St Paul's Churchyard London EC4M 8AL NEW WINETRusf-TAusfEES' ANNUALREPORT AND ACCOUNTS 2023

UnityJ- MaId5￿ne. JulyJAu8U5t 2022 STRUCTURE, GOVERNANCE AND MANAGEMEI GOVERNING DOCUMENT and training as is agreed to be appropriaie on an individual ba515. New Wine Trust is a registered Charity no. 1084415 and a COTnpany limited by guarantee. governed by a memordndum and article5 of association. The charitable company's registration number is 04126583. li was incorporatrd on 12th December 2000 and registered as a eharity on 9th January 2001. A finance and investment comrnittee oversees thc charity's investments and financial st2bility- It also reviews the finaD¢ial policies and key financial plans prior to submission to the m a i n Irustee board. TRUSTEES CHARrrY GOVERNANCE CODE The trustees are all non-executive and aTe elected by the members. None of the irustees had any interest itl the charity or it5 subsidiary. The trustees are conscious of ihe need for the trustee body to embwe a broad variety of skills and new truste¢s are considered in the light of their ability to rontribute 10 the work of the trus¢. They are appoinied by the members in accordance with ihe Trust Deed and are provided with such background TTus*es are comrnitted to th¢ principle5 Qf th¢ Charity Governance Code and the charity'5 governance arrangements follow the T￿MMend￿j0n5, so far as is possible, In re$￿t of all &spKts of giM)d prdctice in governance for lar8er charitte5. NEW WINETRUST-TRUSTEES, ANNUALREPORT AND ACCOUNTS 2023

ORGANISATION The charity is overseen by the non-executiv¢ Board of Trn5tees shown above whi¢h decides upon sirategi¢ and policy matters. Trustees meet around five times each year with one meeiing usually on-sit¢ at ont of the United National Gatherings. During 2023. the main Trustee meetings were held largely via videoconfertnce. but with an in-person meeting at the summer conference. At the stsrt of the y¢ar these individua15. except for the wider employed staff ieam. and together with the Trustees, participated in a strategic review and planning meeting as part of & tsVO•day retreat. This set the direction and focus for the year ahead, includlng the obje¢iives tsr the underlying ministries. It is importsnt to note that the summer festival could not be delivered without the assistance of a large group of volunt¢us working OD tram during ihe summer and. critically. thosc acting team leaders who are involved in th¢ op¢ration31 design and delivery of those activities. M&ny tsf the teatn leaders hav¢ 5¢rved in a similar ¢apa¢ity for a nymb¢r of years. The National Leader is the kty executive officer of the charity. During the year, the National L¢ader has been supported by a small Leadership TeaEn. to design and deliver the main conferences alongside the staff team. Additional support was provided during the year by.. SUBSIDIARY . Six Regional Directors who fonnerly m¢t six times through the year. Several Heads of Mini5ty who focused on their key ministry area aEros5 ail the regions. liai5in8 with the Regional Directors and Leadership Team. an A staff team of around 17 pcrsonnel. cothinated through a team leader, M￿agIng the op￿10081 activitits of the chaTity. New Wine Resources Limited is a I(w￿ owned subsidiary of New Wine Trust and was incorporated on 17th October 2001. Jt exists to mana8e the commercial activities linked to the charity (including publishing books, music. the spoken word and online resources, selling advertising space in the wnference programmes. running cafes arbd renting space in the Market Place at conf¢ren¢esl. It also provides a jobs rd for organisations wishiog to re¢wit new 5tsff. The subsidiary pays all of its profit5 to the charity by viay of a gift aid donaiion. NEW WINETRUST- TRUSTEES, ANNUALAEPORT AND ACCOtJNTS 2023

Qf. RELATED PARTLES During the period. the key management peTsonn¢l comprised the Stsff Ttam Lead and the National Leader. The charity makes fknanci&l contribuiions to a umber of ehurches who rnake their personnel available to the leadership of New Win¢, in¢ludin8 the National Leader. New Wine h&$ no fonnal association with other charities but works elosely with several other Christian charities to share best Practicc. PA Y POLICY FOR SENtOR STAFF The pay of the senior staff and the staff team and is reviewed anrkually with OV¢Tsighi from the Trusie¢s' People & RemuntTation Committee. This takes a range Of factOTS into a¢¢ount including c05t of living increases. Salaries have been benchmarked a8ainst pay levels within similar sized eharittes in Greater London. RISK FACTORS The trustees conSLder the major risks to which the ¢haTity is exposed and ¢Ds¥re thai adequate Systems are in place to mitl8ate exposure tt> these risks. The Strategic risk regisier is updaied and reviewed annually, alongside procedures to ensure they ontinue to rneet the needs of the charity. N¢w Win¢ has 3 r¢muneration principles and policy statement which was last updated and approved by ¢rusie¢s in De¢ember 2019. Th¢ statement is in accordance with the Tecornmendations of the NatiOT)al Coun¢il for Volurttary Organisations (of which New Wine has membership). The following are thc key risks assessed as the most Signifi￿nI for ih¢ Charity: I. iLSSS of key stsff. We do Trx hold k¢y person insurance. However. we &) structure ourselves so that TesponsibilitlC5 are sprcadacross a wide umber of k¢y positions. Senior staff contracts Tequire three months, notice to allow ftsr a 5rn00th transition and business continuity. Th¢ Nationai Leader is on a 3-year renewable tenn of office a]lowing for succession planning. DeSk￿p procedurcdocurncrbtation in key funciions is constsndy upda*d to mitigat¢ this risk. The Pe4)ple and RemuD¢ration sub-committee reviews all staff remuneration. Contracting and welfare. In 2023. pay awards w¢r¢ r¢vi¢wed to ensure role.based salaries were eon51Stent internally and with the local market. The organisational pay ratio of highest to median salary is 1.85=1. NEW W1NETRU￿-TRUSTEEs. ANNUALRÉPORT AND ACCOUNTS 2023

2.Failure to Secure suffi¢ient ittcome for the SLmer conference is considered a material risk due the extent of c4)Sts incurred and contratha] committnents in place. B￿kIng5 are monitortd from the date th tickets are released and the number of discounttyj tickets is actively managed to ensure sufficient revenue5 can be receivable. Evtn 50. delegate fe¢$ alone are insufficient to cover the fvll cost of the festival and offerings and donations are needed to make up the shortfall. including office and admirtistration overh¢ads required to operate through the year. In re5p)nse to a rry￿rt undertaken by the Thurch of England and Si Albans DiOr￿c into hisiori¢ allegations of abuse at Soul Sltrvivor. a charity founded aiongsidc New Wine from the ministry of St Andrew's Chorleywoo& the Trustces havc instigatrd an independent review the charity's r¢lationships with Soul Survivor and th¢ named individutl. and to detemiine whether there are any alle8ation5 of historic or re¢¢n¢ abuse arising frorn activities undettsken at New Wine festivals whether involving Participation of th¢ t)amed indivtdual or without them. The purpose is to brithg to light any historic issues and to ensure that any weaknesses ir) safeguarding can be addressed for the future. Tht r¢view is ongoing at the date of preparing this 3. Cancellation of the swnmer ¢onfeMc¢ w slkirt notice due to wift)rese•) circumslances. The currnkt reser licy requires the truato IKld suffi¢i¢trt fuThdsto cover couvnitted costs in the unlikely ￿currence thot we would have b) cancel our summer events aTwJ i55Uf refunds. 5.Risks posed by th¢ tincreasing role of ￿ in all aspects of the IWSt's ￿tivItieS. W¢ cany out a full risk assessment and Atnpact analysis each y¢ar with actions pui in place k) miiigate high risk 4. Safeguarding of young people and vuln¢rable adults. New Wine prides itself on its provision of ministy for children and youth. and additional needs within the summer festival. Provision and $upp)rt for those 8rnups is ¢on$idered a special privilege and the safe8uardin8 reswTrnsibilLties are recognised by all staff fmm Truste¢s down to volunieer teams. 6. kn8evity of suppliers a)d vOl￿teCT$. A complet¢ rtview aThl update of contrxts and mic¢ l¢vel wtth suppliers was o)nducted in 2020 kTr ¢nsuwe setvices were stdl fit for purp)s¢. and ¢OTKTackng was suffi¢i•)dy TobusL This h&s F*en rnaintsin￿l aThl updated through 2￿23. NEW WINETRUST-TRUSTEES. ANNUALREPORT AND ACCOiJNTS 2023

The trustees acknowledge that they are responsible for the rnaintenance of an effective system of internal control. However. no system of internal financial ¢onirol Can provide absolute assurni¢e against maierial misstatement or10ss. The trustees have considered the major business risks and control objectives relevoni to the trust arbd controls were found to bc appropriate and generally satisfactory. As part of an ov¢fall and continuing drive for quality, intcrnal contro15 arc kept under review wilh atteniion dire¢ted io addr¢ssing those area5 where contro15 may be improved. The trust'5 control objectives include= the maintenanrx of the Christian community's cortfidence in the trust's relevance. in¢egrity and the identification and evaluation of business risks. through regular risk &s5essment and review, and tht direction of the operating and financia] strategy. Operating stra*gy includes its relationship wtth employees, the Leadership Team. church leadership netsvork nJemb¢rs. delegates and busintss partners and the charity's position in th¢ wider community. l)oth Cbristian and the nurnLrin8 of high ethical stsndards, effective communications and a strong overall control environfflcnt", and. the safeguarding of the assets of the trust and the effective use of resources. NEW WINETRUST-TRUSTEES. ANNUALREPORT ANDACCOUNTS 2023

OBJECTIVES AND ACTIVITIES CHARITABLE OBJECTS AKD PUBLIC BENEFrr through like-minded groups in other countries well. Through the ou¢workJng of these aetivities, we see Ihves changed for good in spiritual. rnoral. hical and Pwlical ways. This includes Telationships restored (WLthiTh families and marriages). healing. both physical and spiriiual, cncouragement and support when txpcriencing diffi¢ulii¢& ¢omfor¢ to th¢ bereaved or grieving. hope generated and a frdmework for life. We see pcople turning away and freed from damaging lrfestyles includin8 drug and alcohol dependency, pornography, gambling. bitterness and r¢s¢ntmeni anger and violence, d¢pr¢ssion and despair and new life being generated in their place. New Wi#¢ has three Core charitablc objcctivcs which are.. l. to promote for the public benefit the advanc¢meni of th¢ Thristiart Religton in England and, where invitrd, throughout the world. 2. to equip churches to see Jesus. Kingdom 8TOW' and 3. to see the nat￿ changed through Chyisiians and churches being fllledwith the SpiriL a]ive with the joy of knowing and WOTshippirtg Jes￿$ Chrisi living out his word, and doing the works of the Kingdom of God. The summer Conference is New Wine's major annual activity. At these, amongst oih¢r things the charity. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 io have due regard to the p¥bli¢ ben¢fJt guidance published by the Charity Commission ftir England and Wales. pn)vides teaching in Leadership, Family and Relationship Matter5. Social Justice and Ethics. Youth and Kids, Worl Mission. Spiritual Growth and Worship" TU115 Prog￿MM¢S for those with special needs including adults with additional needs. prnvide$ sign language facilities for the hearing We a¢hiev¢ thes¢ objectives by encouraging lives dedicated to expressing God's love to individuals and Communities throughout the country. and NEW WINETAUST-TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023 io

,c. 4 tLU]NlltJO&lllll BLE , Welcome. ew offers a nymberof free and discounted places to those who would lik< but cannot afford. io Come as pan of our focus on Urban Priority I tnn¢r Ciry Area refugee4 &s Leader5 in Trdining or missionaries on lough lat the Urtited summer gathering in 2023. New Winc fundcd these placrt at a Cost of some £25.000).' builds relationships and community amongttthe delegates both within and outsid¢ the church 8roup5 with which they come. an helps approximately 2.0￿) voluniem to gain new skills through working on leams, S￿akin participating in musical worship and leaming to work with and ¢are for others and tske r¢sp)nssbility. In other aTea5 New Wine offers.. nelwork for Church LeadeTS which offers support and enwuragwn¢nt and works together to see churches renewed. strengthened and others planted, living out the Word of God iii every aspect of life- alongside training o)nfeTences. we run a wide variety of events for groups of leaders includin8 kids. leaders, youth leaders. womrn in Irwjetship roles, those WOTking spe¢ifi¢ally in njral environments, inner city arels or with those with special #eeds. weekends of en¢Ourag￿nen¢ for young adults who are pan of our discipleship year training PTogrdrnme' prdctitioncr-led training days in subjects su¢h as healing. Worship, prayer ministy. worship hub5 which gather local worship leaders gether for spiritual refreshment and traching; online training resources, recorded seminars and live worship and prophecy events offered through the New Wine Online platfomi,. an grants towards new church plants to encourage and grow loca] churches. 1,776 Oelegates at National Leadership Conference 2023 in Harrogate NEW WINETRusf- TRU5TEES' ANNUALREPORT ANDACCOUNTS 2023 li

14 IJJJIA I i, PJAJ ACHIEVEMENTS AND PERFORMANCE VOLUNTEERS KEVIEW OF AcrivrriES New Wine derives benefit from the services of unpaid volunteers wh¢ther the time is given by Its, trusttcs and members of the le&JeTship team. ￿ by the lar8e number of individuals who assist with the of confertnces and other cvents. The United Gatherings in particular rely OTh many thousand volunteerteam membus, helping out in the aTEas of childrtn ar￿ youth worK 5tewardin& hospI￿lty and in a nllmber of smaller Specialis￿ team We are so grateful for all those that Use their gifts to support our work in these ways. The vision stattmeTht'1￿￿ churches. Chan8ing Nations, dirttts our straw and plannir¢8. Its simpli¢ity and challenge ha5 caught the attention of i¥)th historic denominations and new church leadets. we a neNvorkin8 with an expanding breadth of denomination& knowing only by W0￿1￿g tog¢ther¢an we achiev¢ thi5 Vi5MJn. Jesw i5thehope of the wxjrld and we believe the only way our (ommunities will io se< undeTstsnd and receive hope 15 through the local Church- as we live oui his new life in our everyday ITvesl We estimat¢ that mor¢ 250,oc￿ hjurs of voluntttr work are contributed each year to help make events a su¢c¢ss. As there are thildren at the United Gatherings. we use the Di5cloyJre and Barrin8 Service and referenc¢ ¢h¢¢ks to s¢r¢en volunws and Provide safegwdirjg trdining to all volunteers workin8 with children and Inerable individuajs wider a safeguarding policy which h&$ an annual review. With the prayers 8￿j ￿jp￿)rt of ourNew Wine family throughout 2023, we've setn acceleration of church planting. church leadeTS SUPPOrted and releasa to lead renewal in their ¢hur¢hes", and gulerous investment into our futhTr with incrca%d provision for emewging young 1¢4dus as we 5￿k to t*tter serve the move of CMMI aCT055 the nation. and further bursary forurban churches and missionari¢s. Out success is measured thrnugh engagement of th¢ b¢a] Churc￿ ￿ del¢gates at ¢onferentts and u5¢rs of content pwvided online. and a5 rncmbeT5 of acttvc n¢tWOTks. Key rnetr1￿ fw2023 ar¢ included overleaf. NEW WINETRusf-TRUSTEES' ANNUALREPORT AND ACCOUNTS 2023 12

We welcomed approximately I I.￿ delegates during the eouTse of the Summer conference. supported by more than 1,800 volunteer tearn mernè*rs. Again, for 2023. we offered access to our rnain r4)nfertnce 5es5ion5 throu8h the onlinc plarfts￿. Ncw Win¢ Online and th¢ main sessions remain available subscrbber5, alongside the library of wevious ycar5' recordings. 22k+ 3,750 view5 of New Wine Online videos Childrerb & youth attended the summer conference A limited confrrence progrdmme was offere41 in 2023. rebuilding following the global paThlemi¢ of 2020, In addiiion to local gathering5. the main events held 4¥eTe.' A National Leadership ConfeTence in Febrnary 2023 which gathered more than 1,770 church leader5 from acros5 the UK. A summer ¢onfeTen¢¢ njn overlwo weeks and held at the Kent Showground near ma]ds￿ne. A women's ministry day run at two venue5 in the Autumn of 2023. 1,300+ 65+ Active subscribers to our online platform New Wine Online. atcessing teaching material and seminars. charitie5 and missional organisaiions represented at Ne¥v Wine events New Wine Teceives many trstimoniesof the impxt these events hav¢ on both the individua] delegates and their loGal Ch￿￿h¢1 when they Tetym r¢fr¢shed, enuBis¢d and )re aware of God's plw) for their role in the local church. he week5 leading up to coming to New Wine have been really iough for us as a family: my older daughter's got some additional needs and school have not been able to meet them very well. She's been really struggling. I had to leave my work about four week5 ago just because I couldn't juggle work and having to take care of her.-. And so coming to New Wine we were feeling a little bit nervous about what would happen... And we arrived and we walked into the children's area and they had it covered l They were absolutely amazing! They'd read all of our notes they had everything Set up for my daughter so that as soon as she needed something it was right there. They had a plan to roll through with her. I could have cried,. I nearly did on that first day'cause I thought they've got it all sorted and we just felt held realW well, and so for the first time in what's been probably 12 weeks now. we've been able to hand my daughter over knowing that she's held well; knowing that she's having a lovely time- knowing that her need5 are being met, and we've been able to have space. We've been able to have time with God- we've been 3ble to listen to God. we've been able to have space with each other and have space on our own and that's been a really Special and precious gift., (United 2023 delegate) NEW WINETRUST-TRUSTEES. ANNUAIREPORT AND ACCOUNTS 2023 13

The ¢bu￿h leadcr5' network continue5 to grow with over 4,600 activ¢ members (2022: 4,31MI). Thts was a¢hievoJ by extending network rnembcr5hip beyond the senior ¢hurch lead¢rs io others in a leadership upa¢ity within the chU￿h including operntiorbs & admin team. Worship. children's and youth Work. New Wine is providing invaluable support to l(Kal church teaders in theirown contexts through the IcKaJ area network 8TOUPS as ￿￿11 as n¢Norking oppomnities * larger conferer1￿s or gatherings. New Wine'$ philosophy is of relational generosity and members of the nets¥ork art en¢thnged to support new and emerging leaders through M￿￿1$hip programmes on a Tnix of formal and infonnal base5, offeriTh8theirtime willingly and ¢Dthu5i&slically a¢n)ss th¢ nation. (knDiscipkship Yearpro8ramme now h&$ 10 centre5 sing the ￿[￿¢ for interns in 2023r24. This programme Continues to be extremely well received by churches and S￿dents alike. We attractthgaged and enthUsi￿C leath4 who are committed to di5cipling and gtowirtg young adults. Togeth¢T, they wuip lo¢a] chuTche5 with the tools and resources to effectively bring atth]t¢h•)ge. Stydentsertioy a Mixed programme of week]y biblical te4chin& mentoring and placements withirt the lo¢•] church. l¢aming the breathh of serying in a l(Kal church team. The Iwo residential weekend5 pyovide significani time for S￿dents to swdy and share tO8&h￿. buildin8 la5tin8 frTrendship5 and providin8 op￿r￿nItieS ￿ lead one another. 4,600 75 71 Discipleship Ytèr students in 10 hubs active members of the New Wine Leadership Network Leadershi Network area gatherings '1 found doing DY to be such an amazing blessing. I was quite new to faith so it was an inuedible opportunity to learn more about God. how to have a relationship with Jesus and how to serve in the Church community- I particularly grew in prayer and learning to listen to what God is saying,. IDi5cipleship Year Student, York hubl NEW WINETRU5f- TRUSTEES, ANNUALREPORT AND ACCOUNTS 2023 14

In December 2022.New Wine was awarde4J £250.0(Kl by the Church of Englands Innovation Fund to pilot a 3-year project C￿led Tlaising Gene￿]0￿$ Minyers.. The vision forthe mIn￿eTS Pilot 15 to sec an increase in the number of churches offering regularyouth and ¢hildr¢n's ministy. which in turn will see an incre& in Ix>th volun¢eEts in this mirhistsy awea and an in¢reas¢ in wider- 185 attendin8 church. '8eing part of the Raising Generations Minster has been fantastic. It has enabled me to bok at the area around ii)v church and dream for young people I would never have the time or capacity to meet. Instead. the projert means my church supports me to Use sotne of my time to buil(l ￿lat￿nshIpS with other churches. The ptlot h&% 12 New Wine ehuTches with estsblished and growing youth and children's ministries who each work with at le4sttwo other thurches in their IoLaJity that do noi ¢utTenily have estsblished youth andlorchildrens , including other Christian dery)mi[￿lIon5. One of our minster churche5 has so far gone from O childrer) to 12 on a Sunday morrting. Anotherjust held theirfirsl seeker-friendly SerV￿e and saw their nomial attendance Eo from 10 people with no children to 50 adults and 15 childrenl These Churches provide supp)rf in recTUttrrtg aThJ knining volunte¢rs and offeriDg collaFA)rative ￿]n5￿ events for collective worship time5. socials and residentials. The5C offerth¢ smaller ¢hur¢hes a SUPFK)rt stru¢ture or 'scaffolding' within which they develop and grow Teguiar dis¢ipling o)mmuniii¢s. It is not the numbers however. that are exciting. It is buiklin8 relationship with other Christians, praysng together for our area and building something sustainable that means everyone will have the opportunity to explore faith and meet Jesus for themselves. It IS Ereatto share the joys and challenges with one another ènd leam together what works. I can't wart to see what else God ha5 in store.. 2023 has been 0 signifi¢ant year for le*rship Irarbsition. We said g&)dby¢ to Paul Harcourt a5 Nationaj Le4der with heartfelt thanks for hi5 Feadttship of the nehvoTk aTwJ w¢lcomed the apFointmeni of lknch Johnson. We aEso released John Coles from trusteeship aThJ leadin8 thc Board of Trustees after more than 20 yeaTS' faithful servi¢e to the Tn￿t, and appointed Bishop Jill Duff to lead the Board. For Eoth Paul and Joho we are pleastyj that th¥s is not aetually'gcw)dbye' as they Corfinue Tepreseni N¢w Wine as ambassadors within the church in Emgland and beyond. (Minsters Project Participant Guildford Diocesel NEWWINE TftUST-TRUSTEES' ANNUALREPORT AND ACCOUNTS 2023 15

Storyboard Share what God has been doingl FUNDRAISING N¢w Win¢ Taise5 fvnd5 from r¢gular ￿v￿$, major dO[￿rS, offerings at conferences and one-off gifts and these repTesen( the principal ￿nding ￿UrCeS for the charity, along5Lde dele8ate fees for conferentts run in the financial period. The Trust is registered with The Fundrdisin8 Re8ulator but doe5 not use a profe5Stonal fundraiser OT ¢ornrnercia] participator for this aciivity. other than in an advi50ry eapacity. No cornplaints were r￿e1Ved during the year in relation our fijndraising a￿[vitieS. The fvnds Tal￿ SUPFKJrt the development activiiies aligned to raising generations and church planting, mainiaining the thurth leaders, networks ajd meeting the 0￿ratIonal costs of nmning the charity and its asS￿lated ministries. New Wine th)es not appn)ach memFtTS ofthe general publi¢ for donations but periodically appeal$ to 5UPPOrter5 of the cOnfe￿ceS and other individuals on opt-itb mailing lists. With changes in own¢rship a¢ the Eam of Engjand Show8round and prow)5ed developments at the site, we w¢r¢ forced to ¢haDg¢ venue for our sunvner confemce for 2023. Additional co5t50f moving to a new venue have t¢et) recorded in these x¢ounts. For 2024. New Wine will return to the Bath & West SIK)wground wTrxr¢ the summer o)nferenc¢ s¢arte(t as the thang¢s &that si whi15t rethicing camping capachty from 2018 level& remain sufficient for¢uTrent levels of delegates. NEW WINETRUST-TRUSTEES, ANNUAIREPORT AND ACCOUNTS 2023 16

FINANCIAL REVIEW RESULTS The unrestricted fund includes items designated by the trustees for particularpurposes notably fixed assets and funds for the future development of New Wine including cburch planting. the move to new confcrencc sitcs and investing in the next generatiox) of leaders. In 2022, costs of restructuring the opertdtion of New Wine were charged against ¢h¢ fund, including redundancy payments for staff. The results for th¢ financial year are shown on page 25. The group's net movement tn funds shows a surplus of £31.649 (2022.. £219.665). Th¢ charity's financial performance and posilion Is summarised on pages 25 ￿ 27. The trusiees. responsibilities for the financial statements are described on page 21. Note l 8 d¢tsils the restricted and designated nd movements. The balance on restricted funds at the start of 2023 was £9.399 artd on designated funds £285.270. The closing ba]ances are £9.399 and £333.515 respectively. Restricied fund grant income was received in 2023 for the pilot Project descrhbed above. which was fully expended in the year. A near break-even position was planned for in anii¢ipation of the costs of relocating the summer festival once again. The 2023 Leadership Conf¢ren¢e in Harro8ate achieved near-record attcndanct Icvels and was well received from thos¢ an¢nding. By contrast, delegate number5 for thc summer ¢onferen¢¢s r¢main¢d low ¢ompar¢d to pr¢-pandemic ttendance Icvels. leading to a deficit on the event. mi(igated by donaiions and offerin8s received in the year. The closing balance on general funds (free rcserves) wa5 £617.310 {2022= £633.906). The trusiees consider that the market value of the assets and liabilities in the balance sheet are tLOt materially diiferent from thos¢ stated. In 2023 New Wine were #warded a three-year revenue grant by the Church of England to deliver a pslot project of support and training in ¢hildr¢n'g and youth ministry- the Minsters Project. The revenues received are accounted for as Testri¢ied fund a¢tivi¢ies nd are largely funding external eon5ultancy. venue hire and ministry bursaTi¢S. The trust's subsidiary Company, New Wine Resources Limited. traded profitably throuBhDUt the year and coniributed £30 1, 143 to the trnst during the ycar (2022.. £276.143). REVIEW OFFINANCIAL POSITION The trust ¢oniinues to maintsin a sound financial POSLtion. with cash re5trves Wlthin the rangc Considered by the iwstees to be adequate for the group's overall operations. In 2023 the net deficit before transfers and revaluations on unrestri¢t¢d funds was £15,79612022.. £283.749 gain). Thi5 position was improved through unrealised gains on investments. l¢ading to a small Surplus position. Unrestricted unde5Lgnated income of £3.546.547 {2022.. £4.521.428) arose as dethiled in notes 2 to 5 and 10- largely frorn conference fets- aT nre$tricted undesignated expendibjre tot811ing £3,562,343 (2022.. £4,237,679) was made during the year {note 10)- NEWWINE TRUST-fRUSTEES' ANNUALREPORT AND ACCOUNTS 2023 17

RESERVES POLICY In view of the significani cash flow variaiions that arise due to the seasonal naDJre of the tnjst's activities. the tws¢ holds its Surplus funds on short tern) deposii wilh its bankers. The trustees have also decided that up io £lmillion Can be held in charitsble investmeni funds with an expectstion of a minTrmurn 5 year term. New Wine is under a legal duty to apply charilable funds within a reasonable time of receiving them. It is also und¢r an obligaiion to ensure that it Is able to meet all its financia] obltgwions as they frdll due. In balancing these considerations, the trustees are aware ihat New Wine regularly commits itself substantial expenditure for future conferences and events some tim¢ b¢fore they tak¢ pla¢¢. They have formally adopted a policy to retain funds at a level Ihai is suffi¢ieni to ensure that ihe charity's financial commitments in promoting forthcomkn8 conferences and events are fully covcrcd at all times, together with a minimum of 3 monihs. genetal offLce running ¢osts. At i l De¢ernbeT this sum equated to approximately £470k (2021.. £690k). a sum with which the Trustres were content. ID sel¢cting the fund4 the investment committee consider and balan¢e risks attached to assei managers. assei clas5 and individual stocks. The ethic315tance of the charity is also 8 primary ￿nsIderatiOn in selection of the inve5trnent rnanager and fund5. GOING CONCERN New Wine anii¢ipat¢d a financial deficit for 2023, due to ihe Irjwer del¢8ate numbers being recorded due to the change of site and genernl markei conditions. together with the si8nificaTht fjxed costs of deliverin8 the summer conference. The ounum matched this expectation, albtit at a materially lower defLClt than planned. due to the level of donations received at the sumrner conference and throughout the year. Expenditures have be¢n managed io limii ¢xposur¢ to losses the event of Lgncellin8 events. Online rcsourcc5 and 'live streams. hav¢ also b¢et) offered to allow wider attendan¢¢ and provide a fi]rth¢r modest ittcome stream. GRANTS Grant incomc wa5 received from thc Minster Project and was accounted for as restricied fund in¢orn¢. Th¢ grani Claims are made in ￿￿earS for cxpenditure5 incurre41 in delivering the project. These expenditures are also a¢¢ounted as restricted fund items. Grants payable and paid out relate to restricted income and are distributed as 500n as convenierttly possible. No grant$ were paid out dur i n8 202 3. The restricted income is typi¢ally d¢riv¢d from offerings taken & a number of the conferences or individual donations which are to benefit oiher ¢haTitie& or to further ihe mission of New Wine and launch n¢w initiatives. No such rollcctions wcre taken in Whilst the 2023 United events were surx¢ssful by a range of performance measures. thc number Df attendees at the summer conferences was significantly lower than expected and the prior year. which put further strain on the ¢harity'5 finan¢¢s. The lev¢1 of reserves remaining provides ¢onfiden¢¢ in the going concern state for the charity. together with indi¢￿70n$ from our stskeholders and del¢gai¢s of ihe ongoing need for the service5 provided. The charity remains confident in ils role supporting the network of churches and event dele8ates throughout the year. not just for the SUTnmer wnference. 2023. INVESTMENT POLICY The charity's memorandum provides the Board with the power to inwesi monies not immediatrly required for its purposes in suGh investment5. Securities or prop¢ny as maybe thought fiL subject to any condition5 and with such Sanction may be required by law. NEW WINETRUST-TRUSTEES, ANNUALREPORT AND ACCOUNTS 2023 18

Sustainability and 80ins concern are monitored carefully at a number of levels= PLANS FOR FUTURE PERIODS The fumre Priorities for New Wine.. an anthual budgei is agreed by th¢ Trnsi¢¢s and managed by the 5tsff team. Detailed budgets delegate resources to budget managets. who monitor and control their expenditures on daily basis. a#d report to National Leader and Trust¢¢s. cash flow and cash ba13nce5 are monitored and controlled on a daily basis. and the Trustees and Financt and Investment Committee consider cash and invesiments twice a y¢ar_ Any p)t¢niial ¢ash shortfall would be Édentified with sufficient time for the charity to take appTOPTiate actiort. bty)king$ for New Wine conferences and events are tracked by the staff team on a weekly basis through ihe yeor. in order that corrective action may be takeTr promptly, if needed. to cxpand our fvndraising programmes to enhance relevan¢e and engag¢ment across our donor base and with sponsors. to ensure the integriry and robu5tn¢s5 of our governance & management structures. and longer term planning- to relentl¢ssly press into a culture of dependence on Pfdyer, and dedicated con5ecrdtion lo being'holy. hcalthy knd humble-" to deliver on three key prioritie5= o reimagine thc Festivals. o reinvigoNe the Network. o to grow younger and more diverse. These priorities are ￿ b¢ delivered with fJv¢ distinctives.. o every coni¢xt in ¢very county in En8land- o prdctitioner-led. o ¢xe¢llence in kids & youth. o excellence in attessibility. o networkin8 internationally. The truste¢s' rewjrt was approved on behalf the Board on 13 Jun¢ 2024 Bishop Jill Duff (Chair) NEW WINETRUST-TRUSTEES. ANNUALREPORT ANDACCOUNTS 2023 19

TRUSTEES, RESPONSIBILrriES INRELATION TO THE FINANCIAL sTATE1￿￿NTs The charity ti'us¢s (whv also directors of the New Wine Thjst for the purposes of company law) are responsible f(>r preparing the trustees. annual report and the financial Statements in accordance with applicable law and United Kingdom G¢nerally Accepted Accounting Practice (UK GAAPI- Company law requires the trustees to prepare such flnancial siatements for each financial year which 8ive a trne and fair view of the state of affaits of the charitable company and the group and of the financial a¢tlVLtit5 of the Èroup for that period and which comply with UK GAAP, the Companies Act 2006 and the Statements of Recommended Pra¢ti¢e issued by ihe Charity Ctsrnmission in England and Wales. In preparing those financial statemeThts, the trustees are required to= • selcct 5ULtable accounting policies and then apply them consisntly', • observe methods and principles in the Charities SORP. • make jud8ements and estimates that are reasonable and pn￿en( • state whether applicable accounting Standards and statements of recommended practice have been followed. and prepare the financial statements on a'going concern. basis unless it is inappropriate ty assume that the charitable company will continue in operation for the foreseeable future. The tru5tccs are rcspon5iblc for keeping adequate accounting record5 thèt arc suffiGicnt to show and ¢xplait) the company's transactions and disclose wilh reasonable accuracy * any lime the financial position of the charitablc company, for taking reasonable steps for the prevention and detection of fTaud and other irregulari¢i¢s and for the preparation of a trustees. report whi¢h ¢omplies wilh the requir¢m¢nts of the Companies Act 2006. The trustees are responsiblc for safeguardin8 ihe assets of the company and hence for taking reasonable steps for the prevention attd detection of fraud and other itregulariiies and tha( where appropriate, the Director of Operations and their direct line reports are responsible for the maintenance and integrity of the corporate and financial infornialion included on the Company's website. STATEMENT OF DISCLOSURE TO AUD￿oRs In so far as ihe trustees are aware at the lime of our apprnving the trus*es' annual TeporL' there is no ttlevant inforniation. being inknnation needed by the audiior in connection with preparing their repor4 of which the wup'5 auditor is unaware, and cach trustee has faken all the 5tcps that they ought to have taken a5 a diTEclor in OTd¢r lo make themselves aware of any r¢l¢vani audit info￿ation and w ¢stsblish the company's audi￿rS ar¢ awar¢ of that information. AUDITORS A resolution proposing thai Buzzacott LLP be re-appoinwl as audi￿r$ of the company for 2024 will be pr¢s¢nted to the Annual General Me￿ing. On beh81f of the Board of Trusiees Bishop Jill Duff (Chair) Datrd.. 13 June 2024 NEW WINETRUST-TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023 20

INDEPENDENT AUDITORgS REPORT TO THE MEMEBRS OF NEW WINE TRUST optNION CONCLUSIONS RELATING TO GOING CONCERN We have audited th¢ financial ststem¢nts of N¢w Wine Trust (the 'charitable parent company,) and its subsidiary company (collectively the 'group') for the year ended 3 1 December 2023 which the comprise the consolidated statement of financial activilies. the consolidaied and charitable parent company balance sheets. the consolidated and charitable parent company statement of cash flow& and ihe notes to the accounts (including the principal accounting policies). The financial reporting fraTnework that has been applied in their preparation is applicablt law and United Kingdom Accounting Sthndards. in¢luding Finan¢ial Reporting Stsndard 102 'The Finan¢tal Reporting Standard applicable in the UK and Republic of Ircland. (United Kingdom Generally Accepted Accounting Practice). In auditing the financial 5tatement5, we have concluded that the trustees. use of the goirtg ¢on¢ern basis of aceountin8 in the.preparation of the financial ststements is appTopriats. B&%ed on the work we have perfomied. we have not ideniified any maierial lln¢ertainties relating to events or conditions that, individually or collectively. may cast 5ignificani doubt on the group and charitable parent company's ability to continue as a goin8 concern for a period of at least iwelve months from wb¢n th¢ finaneial 5tstement5 are authorL5ed for issue. Our respot)sibilities and the resp)nsibilities of the trustee5 with respect to going concern are de$cTibed in th¢ relevant Sections of this report. In our opinion. the financkal statements= 8ive a true and fair view of the 5tstc of the gTOilP'S and of the ¢harit4ble pareni ¢ompany'$ affair5 a5 at 31 December 2023 and of the group's irt¢ome and ¢xpendJtur¢ for the year then ended. have been properly prepared in accordance with Uni¢¢d Kirtgdom G¢n¢rally A¢cept¢d Ac￿unting Practice; and have been prepared in a¢¢ordan¢e with the requirements of the Companies Act 2006. OTHER INFORMATION The trustees are responsible for the other inforniation. The other irtforniation comprises the infomia¢ion included in the Annual Report and Accounts. other than thr fjnancial ststernents and our auditor's report thereon. Our opinion on the flnancial statements does oi ¢over the other infom)aÈion and, ¢xvpt to th¢ extent otherwise explicitly stated in our report. we do not express any fomi of assurance ¢on¢lusion th¢r¢on. BASIS FOR OPINION In ¢onnKtion with our audit of ih¢ fln￿¢1¥] Statements. our reS￿nsIbility 1$ to read the other information and. in doing so. consider whether the other inforniation is materially inconsistent with the financial 51atements or our knowledge ob¢ain¢d in the audit or otherwise appears to be maierially misstated. If wc identify such material inconsistencies or apparent material misstatements, we ar¢ requir¢d ¢0 detern)in¢ whether there is a material mis5taiernent in the financial Statements or a material misstatement of the other informatkon. If, b&sed on the work we have perforned. we conclude that there is a material Inisstatement of this other tnforniation. we are required lo report that fact. We conducted our audil in a¢¢ordan¢¢ with International Standards on Auditing {UK) {ISAs (UK)) aRd applicable law. Our responsibilities under tth)se stsndards are further described in ihe auditor's responsibilities for the audit of the financial ststements section of our report. We are independeni of the group in accordance with the ethical requirements that are Televa¢)t to our audit of tlje financial sthtements in th¢ including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in a¢¢ordance with ihese requiremenis. We b¢li¢v¢ thai the audit ¢vid¢nce we have obtained is sufficient and aPPTopriate to provide a basis for our opinion. We have nothing to Ywrt in this regard. NEW WINETRUST-TRUSTEES. ANNUALREPORT ANO ACCOUNTS 2023 21

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPAliIES AL'I. 2UU6 RESPONSIBILrrIES OF TRUSTEES As explained more fully in the statement of trustees. resportsibililies in relation to th¢ rtnancial ststem¢nts (contained within the trustee5' repoT(l. the trustee5 (who are also the dire¢tors ofthe charitsble company for the purpo￿$ of company law) are re5pon5ible for the preparation of the financial statements and for beit)g satisfied they give a irue dnd fair view, and for such internal control as the iru5tees deterrnine is n¢¢essary to enable the prepardtion of flnancial stalements that are free from material misstatement. whether due to fraud or ¢rror. In our opinion, bas¢d ott th¢ work undertaken in the eourst of the audit.. the infomation given in the irustees, report. which is a]so the directors, report for the PUTP)Sts of mpany law, for the financia] year for which the rinancial ststements are prepared is consistent with the finan¢ia] swements" and the tiustres. report has been prepared Jn accordance with applicable legal requirernent5. In preparing the financial statements, the trustee5 art responsible for assessing the group's and the charitsble par¢ni comparty's ability to ¢oniinu¢ as a going concern. disc105ing. a5 applicable. matter5 related to going ¢on¢em and using the gokng ¢on¢ern basis of accouniing unless the trustees either intend to liquidate the group or the charitable par¢ni wmpany or to ¢¢as¢ operntions, or have no realistie alttrnative but to do so. I￿A￿ERs ON WHJCH WE ARE REQUtRED TO REPORT BY EXCEPTION lrt the light of the knowledge and underst8nding of the group and th¢ ¢hariiabl¢ pareni company and its environment obtained itl the ¢our5c of the audiL we have not identified material misstatements In the trustees, report including the strntegic re￿)rt. AUDITOR'S RESPONSIBILITIES FOR THE AUD￿ OF THE FINANCIAL STATEMENTS We have nothing to report in respect of the followin8 rnatters in relation to whi¢h the Companies A¢t 2006 rcquire5 US to report to you if, in our opinion.. ad¢quai¢ a￿0￿￿ting re￿rdS hav¢ not kept by the charitable parent company, or return5 ad¢qllai¢ for our audit hav¢ noi b¢et) received frorn branches not VL51ted by us.. or the charitable pareni company financial ststement5 are not in agreement with the ac¢ouniing records and returns- or cettain disclosures of trnstees, remwieraiion specified by law are not rnade. or w¢ have thoi received all the information and explanations we require for our audil. or tht trustet5 were not tntitled to prepare the flnancial stai¢m¢nts in accordance with the small companies, regime and take advanta8e of the small ¢ompanies' ¢x¢mpiions in preparing the trustCC5' report and from the requircmcnt to prepare a strategic report. Ourobje¢tives aTe to obtsin reasonabl¢ assuran¢¢ about whether the financial statements &$ a whole are free from rnateriaj mi5slatemeThL whether due to fraud or error. and issue an audI￿r.5 r¢rK)rt tha( include5 our opinion. Reasonable aSSUT8nce is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always de￿1 a mai¢riai misstatemeTh( when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on The basis of th¢s¢ fin8n¢ia] statements. Iwlariii4 including frau4 are instanc¢s of non- compliance with laws and regulations. We design pr(Keduffs in lin¢ with our r¢spot)sibiliti¢s, out11￿d atx)ve. to detect Material misstaternents in respect of irregulatilie& including frnud. The ext¢ni to which our pr￿edureS are capable of detecting irregularities. including fraud is dthiled below.. the engagement director en5ufEd that the engagement tearn ¢oll¢ciively had the appropriate compttenct. capabilities and 5ki115 to identify or recogTbise non-￿Mplian¢e wilh appli¢able laws and Te8ulatlOn5' NEW WINETRUST-TRUSTEES. ANNUAIREPORT AND ACCOUNTS 2023 22

we identified the laws and regulations applicabl¢ to the 8TOUP thTOU8h d]￿u$$I0nS with manag¢menL and from our knowled8e of the charity sector- the identified laws and regulaiions were communicated within the audit team regularly and the learn remained alert to instsnces of non- compliance throughout ihe audit. we wnsidered the 1¢8al and regulatory frameworks that are applicable to ihe group and deterniined that the most Slgnificant are the Companies Act 2006. and the Charities SORP FRS 102. we understood how the group is complying with those legal and regulatory frameworks by making inquiri¢s to management and those responsible for le8al, compliance and governance procedures. We ¢orroborat¢d our inquiries through our review of the minutes of tru5tec5' 1 directors, meetings and papers provided to the trustees I directors. tn re5pMse to the Tisk of irregularities and non- complianct with laws and regulations. we designed o¢e4urts which included. byi were not limited to.. agrccing financial statement di$¢losures to underlying supporting documentsiion. r¢viewJng the minutes of trns(ees' I directors, meeting5. and enquiring of management aod thoK charged wilh gov¢rnance a5 to acttkal and potential litigation and claims. There are inherent limitations in our aud5t procedures described ab)v¢. The more remov¢d thai law5 and regulations are frorn financial tTansaction& the less likely it is th we would become aware of non-eomplianee. Auditing stsndards also limit the audit procedures required to identify non¢ompliance with laws and regulations to enquiry of the trustees and other managernent and the inspection of regulaiory and l¢ga] corre5p)ndence. if any. Wt assessed the susceptibiliry of the group's financial statements to material misstatemenL including obtaining an understanding of how fraud might occur. by.. Matttial misstatements that arise dut to fraud can be harder to detect than those that arise from error as ih¢y may involve deliixrate CA)ncealment or collusi￿. making enqviries of managem¢ni and thos¢ charged with governance as to where they considered there was Su￿epTibl[ity to fraud, their knowled8e of actual. suspected and alleged fraud. and ¢onsidering the iniernal controls in place to mitigate rbsks of fraud and non-¢omplian¢¢ with laws and regulations. A fvrtherdes¢riyion of our resTMTrn5ibilities for the audit of the financial s¢atemeAts is locat&l on the Financial R¢p)rting Coun¢il'5 websiie at www.fr¢.org.uklauditorsresp)nsibiliiies. This d¢s¢ription fornis part of our auditor's repDrt. Use of our report This report is made solely to th¢ ¢haritable parent company's member& &s a b(yJy. in a¢eordaJJ¢e with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has b¢¢n undertaken $0 that we rni8ht State to the charitable parent cornpany's members those matters we ar¢ r¢qlltred to swe to them in an auditor's report and for no other purwjse. To the fullest extent permitted by law. we do not a¢¢ept OT assume responsibility to anyone otherthan the charitable parent company and the charitsble company'5 membets as a btsdy. for our audit WO￿ for this reporL or for th¢ opinions we have fonned. To address the risk of fraud through management bi&$ and override of controls. we= performed analytical procedu￿5 to identify any Unusual or unexpected relationships. reviewed journal ¢ntries to identify unusual trdn5actions' tested the authori5ation of expenditure ￿ part of our substantive i¢Siing ¢hereon- assessed wh¢th¢r judgements 2nd assumptions made in determining the accounting estimate5 set out in ihe a¢¢ouniiog policies wer¢ Indi￿lIVe of poteniial bias. and used data analytics to identify any st8ntficant or unusual transactions and identify the rationale for Ihem. Gumayel Miah (Senior Statutory Auditor) For and on behalf of Buzzxon LLP. Ststutory Auditor 130 wL￿)d Stree( London, EC2V 6DL Date: 26 June 2024 NEW WINETRUST-TRUSTEES. ANNUALREPORT ANDACCOUNTS 2023 23

NEWWINE TRUST Accounts NEWWINETRU5T-TRUSTEES' ANNUALREPORT ANO ACCOUNTS 2023 24

NEW WINE TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES lincludiThJ consolidaled income expenditure ￿c()unt} FOR THE YEAR ENDED 31 DECEMBER 2023 Total 2023 Unrestrted Restricted Funds Funds Total 2022 Funds Ftsnds No Income frorn". Donionsi 8rants and legarlES - Donations and 8rart5 - Love offering$ 4t conferen￿5 537.353 243.180 75.4C6 612.759 243.180 793,364 1.029,127 801864 IW29.l27 7&1.533 75.406 B55.939 1.822.991 9.LUI I￿3￿991 Income from (hathable artivilies - Conferentts & networks Income Ir¢)m othertrathinK vttles - Commercial tradln8 operations Ihvestmeni Income 3.17 2.126.445 126A45 1.980.370 1.980.370 610,122 29.447 610.122 19.447 701,173 16,894 701,173 16.894 Total Incthhe 3.546.547 75.4 3￿1.953 4.521.428 9.tKIo 4.530.428 Expendituron- Raisin8 lunds . Commercial trading operations Fundraisingand publieityCOSts 312.￿6 18.114 312.OJ6 18.114 425.394 41.960 4ZS,394 41,960 330,120 330.120 467.354 467.354 Chaiiiable arti¥iti - Conference5 & networks 3,232.223 76.2(￿ a3￿￿29 3.770,32S 4.(Y)0 3.7?4.125 Tthal expendur¢ 3.561343 76.2[ 3.638y9 4.237.679 4,tXIO 4241.679 Nei l¢xp¢hditurel / before investment gains and losses Net Eains I Ilossesl on irwestmenta55ets 1165961 283.749 s.(x)o 2B8,749 13 48.245 4&245 169.0841 169.0841 Net inc{￿e/ lexpendhurel and movernent ITh fuhds 32.449 31.649 214.665 s.tsjo 219,665 Trnnsfets bett¥een ftsnds 31.649 3L649 214.665 5,Lh)O 219,665 Reconciliation otfund5 Fund bèlances at I January 919.176 9.399 928575 704.511 4.399 7Lkg.910 Fund bBlan￿$ at 31 De¢ernber 950,825 9.393 960224 919.176 9.399 928.575 The statement tsf financial activitie5 includes all gains and losses recoEnised in the year. All incoffle arbd expenditure derive from continuing activities. See note 10 for detail of prior year Statement of Financial Actniities. NEW wINETRu￿-TRu5TEES. ANNUALREPORT AND ACCOUNTS 2023 25

NEWWINE TRUST CONSOLIDATED AND CHARITY BALANCE SHEET FOR THE YEARENDED 31 DECEMBER 2023 roup Charity 2023 2022 2023 2022 Note5 Flxed Atsets TaTr8ible assets lrniestrnents 13.545 21.477 13,545 21.477 573.264 525.019 573,266 525.021 546.4% 586.811 546.498 Current assets Sto¢ks 14 &465 9.243 Debtors 273.864 671.044 344.175 185.426 Cash at bank and in hand 1,211.579 841.601 443.479 1.578,908 954.151 1.185,776 628,905 Creditars: amounts lalln¢ due within one year 16 1.205.493 373.415 1572.0721 382.079 1,113.717 522.971 Nei current a55ets 72.059 105.934 N¢t assets 9￿.224 928.575 658,870 652,432 In￿￿tfv￿1ts Restricted funds 9.399 9.399 Unrestricted fund General fvnds 617.310 633.%6 315.956 333.515 357,763 Designated funds Total fuDd5 333.515 285.270 285,270 1&19,20 A).224 928.575 658,870 652,432 The trusiees have prepared group attounts in accordance with section 398 of the Companies Act 21)06 section 138 of the Charities Act 2011. These accounts have bee prepared in atcordance with the special provisions tsf Part 15 of the Companies Act 2006 ielatin8 to small companies. The notes on pa8es 28 10 45 form part of these accounts. The accounts were approved by the Board on 13 June 2024. Sarah McHardie- Trusiee 13 June 2024 Company Number.. 04126583 NEW WINETRUST-TRusfEES' ANNUALREPORT AND ACCOUNTS 2023 26

NEW WINE TRUST CONSOLIDATED AND CHARITYSTATEMENTOF GASHFLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Group Charity 2023 2022 2023 2022 Notes Stitement of cash flv*s Cash fftow5 from operatlrvd •rbvill¢$ Net cash (used inll provided by ¢ptrknngadMtiÈs 22 517.999 1271.4071 378,824 1178.7495 Cash Ilow from inestin8 activides Interest frorn invtstments 29.447 16.894 26.2CB 16,530 117.2801 Purchase of fixed a55ets 16.9111 117.2801 16.9111 Netcash used in investln4 artNities 22.S36 19.298 750 Chany In cash and osh eqwalentsin theiewtwy period 540.535 1271.7931 398,122 1179.4991 Cash and cash equlva￿nts ai i January 671014 942.837 443,479 622.978 Cash and tash eqtsNaIeb￿af 31 December 1.211.579 671.044 841,601 443.479 No separate reconciliation of netdebt has beefi prepared asthErt is rt+drffererKe I)ets￿￿tr￿ net ca5h/ldpbtl of tharityand the ab￿e cash and cash equivalents. NEW wINETRu￿-TRu5TEES, ANNUALREPORT AND ACCOUNTS 2023 27

NEWWINE TRUST NOTES TO THE ACCOUNTS FCR THE YEAR ENDED 31 DECEMBER 2023 Accounting policles The principal accounting policies adopted. judgements and key sources of estimation uncertalnty in the preparation tn the financial Statements are a5 follows= 1.1. 8asis of preparation The financial statements comply with the CompaniesAct 2006. Charities Act 2011. Charity's Memorandum and Articles. Statement of Recommended Practice applicable to charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS1021 Icharities SORP FRS1021. and Financial Reporting Standard applicable in the UK and the Republic of Ireland (FR51021 New Wine Trust meets the definition of a public benefit entity under FR5102. A55et5 and liabilities 3re inttially recognised at historical cost or transaction value unless otherwise stated in the relevant ccounting policy notelsl. The funrtlonal currenry is Pound Sterling and all financial results are reported in Pound Sterling. 1.2. Goin8 concern In reaching the conclusion on application of the going Concern basis, Trustees have had regard to the cash flow and budgeted projection5 for the forthcoming 12 month period, incorporating all known changes in operational plan5. The Trustees consider there are no material uncertaintie5 about the Trust's ability to continue as a going concern. The Trustees have rnade this assessment in respect to a period of one year from the date of approval of these accounts. 1.3. Basis of consolidation These financral statements consolidate the results gf the charity and its wholly-owned subsidiary, New Wine Resources Ltd la company registered in England and Wales under number 043062961 on a line- by- line basis. A separate Statement of Financial Activities. or Income and Expenditure account. for the Char￿ itself 15 not presented because the charrty has taken advantage of the exemptions affoided by section 408 of the Companies Act 2￿6. Income and expenditure Income is recognised when the charity has entitlement to the fund5. 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.. 1.4.1 Income from fees, licenses. sale of goods. royalties. commissions and interest is taken to the Statement of Financial Activitie5 on an accruals basis. 1.4.2 Collection and gift income is taken to the Statement of Financial Activities on a cash basis. Income tax recoverable in relation to donations received under Gift ATrd is recognised at the time of the donation. 1.4.3 Expenditure. which includes irreeoverable VAT. is tsken to Statement of Financial Activities on an accruals basis. NEW WINETRUST-TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023 28

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1.5. Donated services Donated servFces and facilities are retognised as income when the tharity has control over the Item, any conditions associated with the donated item have been met, the receipt of the economic benefit frorn the use by the tharity of the items rs probable and that economic benefit can be measure reliably. In accordance with the Charities SORP {FRS 1021 the volunteer time from the manv thousands of volunteers noted in the trustees. report i% not recognised. Professional services ère received ad hoc from our solicitors and thts is recognised at the amount the charity would have been willing to pay to obtain Se￿ICeS of equivalent economic benefit on the open market,. a correspondin8 amount is also reco8nised in expenditure. 1.6. Support costs Support costs are allocated between the principal activities of the trust for charitable artivities, generating income and governance. Where costs are not directly attributable, the allocation 15 based on an estirnation of the time spent or by reference to the income generated on the various activities. 1.7. Pensions The charity auto enrolled employees intothè People's Pension - Defined Contribution Scheme IDCSI in April 2015 and a re-enrolment exercise was undertaken in 2020. Employer contributions are accounted for on an accruals basis. 1.8. Tangible fixed assets and depreciation Tangible fixed asset5 are stated at cost less depreciation. Assets costing less than £l.000 are expensed rather than capitalised. Oepreciation 15 provided at rates calculated to write off the cost less estimated residual value of each asset o¥er its expetted useful life as follows: Leasehold Improvements Plant and machinery IO% per annum on cost (over the term ol the lease) 33% and SO% 1.9. Investment polity The trustees can invest surplus fvnds and they have decided that LFP to £lmillion 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 balante risks attached to asset rnanagers. asset class and individual stocks. The ethical stance of the charity will also be a consideration. The trust may also hold surplus funds on fixed term deposf( with its bankers. No such deposits V￿re held during 2023. 1.10. Stocks Stock5 are valued at the lower of eost and net realisable value. Impairment values are reassessed each year, by comparing the carrying amount of each product lor 8roupl with its selling price. less costs of sale. Any impairment loss is reco8nised immediately In the tradin8 subsidiary's income and expenditure account. NEW WINETRUST-TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023 29

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1.11. Deblors Debtors are reco9nised at ￿lf settknent amourt less any prowsion for TrJn-reco¥erakn"lity. Sales are made on the basis of normal credit tem)s and do not bear interest. At the end of each year. all receivable5 are reviewed to determine whether there is evidence that the amount5 are not recoverable. If so. an impaiment loss is reco8nised in the income and expenditure statement by the creation of a bad debt provision. 1.12. 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 le55 from the date of acquisition. 1.13. Creditors Creditors. induding trade debtor5. are obli8ations on nonnal tredit temis and do not be¥ interest. 1.14. Fund accounting 1.14.1 Unrestritted funds can be used in accordance with the tharitable objects at the discretion of the trustee5. Designated lunds are unrestricted but have been set aside at the discretion of the trustees for specific purposes; these are set out in the note5to the accounts. The carrwng value of the trustrs taNgible fixed assets has also bee separated as a designated fund in recognition of the lact that these a5sts ar not available to the trust to meet day-to-day workin8 capital requirements. 1.14.2 Restrlcted funds are subject to specific conditions by donors as to how may be used. which are set out in the note5 to the account5. 1.15. Financial Instruments The trust only has financial assets and financial liabilities of a kbnd that qualify as basic financial instruments. Basic financial instrument5 are initially recognised at transaction value and subsequently measured at their settlement value. 1.16. Critical accounting estimates and areas of judgement Preparation of the financial statements requires the trustees and management to make certain judgements and estimates. The items in the finantial statements where these judgements and estimates have been made include- the estimates of the useful economic lives of tangbble fixed assets used to determine the annual depreciation tharge.. the estimate of any provision required for slow or obsolete stocks- the estimate of any provision needed for bad o doubtful debts.. determinin8 the basis on which support costs should be allocated across expenditure headings.. and the estimates of future income. expenditure. and cash flows for the purpose of assessing Eoing concern Isee 1.2 above). NEW WINETRUST-TRU5TEES' ANNUALREPORT AND ACCOUNTS 2023 30

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEM8ER 2023 Incom* from donations and 8rants Ithere were no Woes) 2023 2022 Unrestricted donations Grants reteived IgenÈral fund) Restritted grants & donations Total donations 780.533 1.777.991 45.COJ 75.4C 855,939 1,831,991 Included in the above amounts is £56.18112022". £193.54018ift aid recoverable. The majority of the donations are from individuals and are below £5,(YJO eath. Love olferings received at conferen￿, other than the specific charities restricted collections or those given for a defined purpose. are dassified as unrestricted fund5. Grants receNable in 2023 arise from a three year pilot project of developing children's an youth ministry in churches. funded by the Church of England. t)onations receNed via Charite5 Aid Foundation and Stewardship. whilst technically grants. are included within donations to reflett the substance of the transactlons.12022'. a cost- shère erant wès received another UK ch3rity. Fuspon. for the Summer Conference"SiKtyOne-.I Income from tharitable activities 2023 2022 National Gatherings Other conferences 1.878.655 210.510 37,280 2.126.445 1.711.801 236,346 32.223 Trainin8 1.980,370 Free ol charge and discounted places are made available under the New Wine Urban Butsary Fund to dele8ates and missionaries who may otherwise not be a￿e to afford to attend the summer conference. ol an equivalent value of £25.000.12022.. £39.CO)I. NEW WINE TRLIST- TRUSTEES. ANNUAL REPORT AND ACCOUNTS 2023 31

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Inwme eamed Irom other dttivibes Commercial trading adivities of trading SLfrbsidiary The charity owns 2 shares of £1 eath in its wholly owned subsidiary New Wine Re50urce5 Ltd. which is incorporated in the United fingdom. publishes Christian mu*cand other resources. and pays all of its profits to tht charity byway of Grft ￿de¢l donation. A summary of the trading result is set out below: 2023 2022 Summary profit and Ios5 account Tumover 610,122 1312,W61 3.238 301.354 276,143 1276,1431 301,354 701.173 1425.3941 364 Cost of sales and administratNe expenses Interest receivable Net incorne from trading Opening retained reserves Donation to the Charity under GiftAid rules Retained in the subsidiary 276.143 56.237 156.2371 276.143 The a￿ets and liabilities of the subsidiary were= Current assets 447.615 1146.2591 30L356 413,599 1137.4541 276,145 Creditors.. amounts fallin8 due within one year Total net assets 8re8ate share capital and reser¥es 30L356 286,145 Investment income 2023 2022 Income from CCiA +n¥estments 13.710 15,737 15,738 1,156 Interest receivable 29,447 16.894 Net income is stated after charBing= 2023 2022 Depreciation Fees payable to the auditor for statutory auditing services Restructuring costs- staff costs Operating Lease ￿ntaI5- Hire of equipment - Properry Other Income- investment income 14,643 28,365 18.3[ 17.000 257.773 6.976 35,CQO 116.8941 6.976 35.OCKJ 129.4471 NEW WINETRUST-TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023 32

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expendiiure on tharitable object￿e$ Leadershrp Discipleship Network & Year. Trainin8 & Iniernational development Ministry of New Wine National Other Conferences 2023 Gatherin Totsl Unrertricted fund5 Site c05tsldirect event Costs Teams & Activities Marketing Direct offiee costs I.￿.142 84.691 4,489 2,069,322 312.256 221.707 5.227 55.921 29,401 21.185 ID) 24,565 1.507 1.140 17.822 931 2,438 Governan￿ Costs 44.120 689.881 1.850 693 47,803 Support costs Tthal unrestricted 28.923 IOA37 747,463 1957.035 123.971 76.39) 46.451 3,203,847 Deslgnaied funds Salarie5 and related costs 14.026 342 14,026 14.3SO Support costs Total designated 13.245 SS5 13.245 555 14.368 28.376 SU￿01a1- General funds 2.970.28A) 124.526 ).758 46,659 3.232.223 Restrirted funds Teams & Attivities 76,2L 76.206 Total 2.970,280 124.526 90.758 122.865 3.308,4Z9 NEW WINETRUST-TRUSTEES, ANNUALREPORT ANO ACCOUNTS 2023 33

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure on tharitsble objeetives Itont.) Leadership Network & Discipleship Year. Trairiin8 & International development Ministry of New Wine National Other Conferences 2022 Gatherin Total Unrestrlrted fijnds Site costs/dirert event costs Teams & Activities 2.LXJ6.831 211.798 23.576 89.442 13,448 2.109.721 12.635 118.080 26,544 123 369.057 Marketing Direct office costs 26.785 5.339 1.782 7.121 Governance Costs 47.863 2,Z45 2.635 894 53.637 pport costs Total unrestrfrted 737,076 34,570 410.572 J3,772 825.590 3.027.144 14L978 166,626 3.392.311 Designated funds Salaries and related ttJ5ts Teams & Activities 244 261,972 350.216 Support costs Totsl Ilesned 24.8Cfj 1.163 1.365 464 27.798 24.8L 1.163 262,436 378.014 Subtotal-Gnernl funds 3.051,950 143.141 256.235 318.999 3,770,325 Restrlcted fund5 Support costs 4.orK 3.055.950 143.141 256.235 318.999 3,774.325 Costs are èllocated dlrectly to an activity where possible and othe￿1$ in the sarne proportion a5 the direct costs. Designated fund developments intlude investing in younger leaders and encourdging churth plantin& urban church development and other thurth growth initiatives. and restructuring c￿ts of New Wine. NEW WINETRUST-TRVSTEES. ANNUALREPORT AND ACCOUNTS 2023 34

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Allocation of governance and support costs Charits￿e Actwities SUPkY)rt costs Owritsb kli￿tieS G0vemar￿￿ Fwdraising & PU￿l(lty Costs 2023 Totsl Audit 10.404 10.404 salaries and related costs 473.403 7.731 9.819 4￿.953 Depreciation Officeexptrbses & marketin 14.350 293 14.643 274.C60 10.383 27.287 47.&)3 311.730 76L813 1&114 827.730 aritsèie Lfviitab Artryfities F￿1raIsing & tivities 5UPPOrt costs PublKTr Costs fvemère 2022 Totsl Audit 17.L 17.0 649.037 Salaries and related costs 617.(7 27.798 18.969 12.981 DepreciatK)n Offlce expeases & marketini Total 567 28,365 22,991 23.089 254.983 853.788 41.9E4) 53.637 949.385 During the year the group paid their auditors £18,30612022: £17.iXM)I for the audit of the group. Other support costs are allocated ¢>n the basis of time use. NEWWINETRU5T-TRUSTEES' ANNUALREPORT AND ACCOUNTS 2023 35

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Summary analysis of expenditure and related income for tharitable activities Thi5 table shows the undesignated general fvnd costs of the four main tharitsble actNities and sources of incomè dirertly to support those acty¥ities. Leadership Network & International Distipleship Year Training & development of New Wine National Other 2023 Gatherin85 Conferences Ministry Totsl Analysls of support Note Income 1.878.656 12.957,0351 11.078.3791 210.510 1123.9711 86,539 37,280 146.4511 19.1711 2,126,445 13.203,847 11,077.4021 Costs 176,3901 176.3901 Leadership Network & Intemaiional Discipleship Year Training & development of New Wine National Other 2022 Gatherings Conferences Ministry Total Analysis of SUPPQrt Note Income I.711￿01 13,027,144) 11.315.343) 236.346 1141,9781 32,223 156.S631 124,3401 1,980.370 13.392.311) 11.411.941) Costs 1166.6261 1166.6261 NEW WINETRUST-TRUSTEES. ANNiJALREPORT AND ACCOUNTS 2023 36

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YE4R ENDED 31 DECEMBER 2023 10. Detail of current year Statement ol Finanoal Acti￿￿e5 2023 General funds Desi8nated funds Total Restricted funds Totsl funds Unrestritted Income from: Donations. 8rants and legacles Donations and grants - Love offerin85 at conferentes 537.353 243.181) 780533 537,353 243,180 780.533 75.406 612.759 243,180 855.939 75.406 Incoffle from tharitsble acts¥itses - Confe￿nCeS & network5 Income from othtrtrading atbvities Commercial trading operations Inveslment income 2.126.445 2,126,445 2.126.445 610,122 29.447 610,122 29.447 610.122 29,447 Total Income 3.546.547 3,546.547 75.4L 3.621.953 EXpendi￿re on: Raisin8 funds - Commeroal trading operations - Fundraising and publicity Costs 312,C 18.114 312,(K6 18.114 312.006 18.114 330.120 330.120 330.120 Charitable arti¥itle&' . Conferences & network5 3.203.847 3,203.847 28.376 28.376 3,232,223 3.232.223 76,206 76.2C 3.308.429 3.308N29 Total expendlture 3.533.%7 28.376 3,562,343 76,21 3.638.549 Net Income I lexpenditurel before transfers and In¥e5tmeni gaons and losses 12.580 128.3761 129.1761 28.376 115.7961 18001 18001 116,5961 - Transfer between funds Net 8ains on Investment assets 48,245 48,245 48,245 31.649 48.245 31,649 Net movernent in funds 116,5981 Reconciliation of funds Fund balances at l January Fund balances at 310ecember 633,906 617.310 285,270 333.515 919.176 950.825 9.399 9.399 928.575 960224 NEW WINETRUST-TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023 37

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OECEM8ER 2023 10. Detail of prior yeai Statement of Finanaal ActNities 2022 General funds Designated fvnds Total Restricted Total Unrestrirted fvnds funds Infome from: Donatlons and lelacles Donations 793.864 L029.127 1.822.991 793.864 1.029.127 1.822.991 802064 1I129.127 I￿31.991 - Love offerings at conferen Intome from Charitab￿ artNities - Conferences & networks L980.370 1,980,370 1.980370 Infome from other tradin8 aciivilies - Cornmercial trading operatior Invesknent Incorne 701,173 16.894 701,173 16.894 701.173 16W4 Total Incomè 4.521.428 4.521.428 4.530.428 Expendityre ofi: RaisinB fund5 - Commercial trading operatrons Fundraisin8 and publicity Costs 425.394 41.960 467,354 425.394 41.960 467.354 425.394 41,960 467,354 Charitable adivities: . ConfÈrences & network5 3.392.311 3.392.311 378.014 378,014 3.770.325 3.770.325 4.ODJ 4,￿)0 3.774.325 3.774.325 Tolal expenditure 3.859.665 378.014 4.237.679 4.000 4.241.679 Nei income I lèmptnditurè) l>efore transfers and in¥e5tments galns and losses - Transfer between funds 661.763 1378,0141 1254,1101 254,110 283,749 288,749 Nel gains on investrnent assets 169.0841 1192.9881 169.(041 214.665 169.0841 219,665 Net m4)¥em*nt In lunds 407.653 5,0(J) Recon¢lllatlon of fwds Fund balances at l January Fund balanc￿ at 31 December 226,253 633.91XS 478.258 285.270 704.511 919.176 4.399 9.399 708.910 928.$75 NEW WINE TRUSf-TRUSTEES' ANNUALREPORT AND ACCOUNTS 2023 38

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 ii. Staff costs 2023 2022 Number of employee5 Avera8e number ofemployees during the year 17 30 Wages and salaries Social security costs Pension costs 527.378 1.140.373 96.913 86.653 1.323.939 44,906 Total stsff c05ts 617,193 There were no employees whose ￿[￿lUments Igr05s pay excluding pension and national insurance) were over E60.OCQ12022'. one).. in 2022 their emoluments fell in the band £IIO.COJ to £120.(¥X) due to termination and ex£ratia payments payable from the ￿tructUre exerose. The total employee benefits paid to key rnana8ement personnel lof which there were 3 in 20231 amounted to £92.19212022- two personnel with benefits totalling £118.0501. In addition. New Wine makes contribution5 to several thurches and a charity for staff time made available for the leadership of New Wine- the total ofthese payrnents were £38,46512022.. £3S,5831 The charity operated a Defined Contribution Pension Scheme provided by the People's Pension. The charity contributes IO% of basic salary wilh no requirernent for the employee to contribute. The tgtal employer ntribution5 to this scheme for the year were £44.90512022.. £86.6531 with the final [￿nth'S ontributions outstandin8 at the year end. totallin8 £3.7431202L' £4.0921. In 2022, ￿$tructUring costs of £257.773 were induded in the staff costs, being redundancy ptyments and related ex-gratia sums made in the year. NEW WINETRUST- TRusfEES' ANNUALREPORT ANO ACCOUNTS 2023 39

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Tangible Fixed A55ets Tangible assets. Leasehold lrnprovements Tangible assets- Plant & rnachinery Totsl C05t At l January 2023 Additions 487.342 417.044 6.911 423355 904.386 6.911 911.297 Al 31 December 2023 487342 Depreciatlon At I january 2023 Charge for the year Al 31 December 2023 487,342 395.567 14.643 410210 882.909 14.643 897.552 487342 Net book value At 31 December 2023 13.745 13.745 Al 31 December 2022 21.477 21.477 The irading company drd not Lwn any fixed assets. 13. Fixed Asset investments 2023 2022 CCLA In¥esunent fund Market value at l January Unrealised Ilossesl l Bains Market value at 31 December 525.019 48.245 594.103 169.1]841 525.019 S73.264 Histori¢ c05t 261.226 261,226 The tradin8 subsidiary holds no investments of its own. New Wine Trust holds 2 shares ofÉl eath in its wholly owned tradiA8 subsidiary company New Wine Resources Ltd, which is incorporated in the United Kingdom. These are the only shares allotted. called up afid fully paid. The activitie5 and rÈsults of this torbwany are summarised in note 4. NEW WINETRUST- TRUSTEES, ANNUALREPORT ANDACCOUNTS 2023

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Stock Group tharity 2022 2023 2022 2023 Trading stock. books and resources 6.465 9,243 Stock is valued at the lower of acquisition tost and realisable value. All stock is owned by the subsidiary tradin@ company. 15. Debtors Group Charity 2023 2023 2022 2022 Trade Debtors 132.562 16.8 211.412 86.774 S8.182 128.908 77,878 9,086 202.728 54,483 344,175 4,425 58,096 122,875 30 Other debtors Prepayments and accrued income Amount due from subsitliary undertakinB 360.864 273,864 185.426 16. Creditors- amounts lall¢n8 due within one year Group Charity 2023 2022 2023 2022 Trade Creditors Other creditor5 and accruals Incorne in advance 67.615 27.368 1.089,178 17.589 3.743 17.81S 74.226 378.899 97,040 4.092 S6,167 14.C¥J9 1.026,860 12.938 3.743 16.902 15,754 266,604 78.887 4,092 140.732 522.971 17 Taxation and social security costs Pensions Amount gwing to subsidiary undertaking 1.205.493 572.072 1.113.717 17. Oeferned income- Group and Charity Oeferned income comprises advante fee income for confertnte ènd events in the subsequent financial year and charity Partnerships extending over 12 months. 2023 2022 Totsi deferred income at ljanuary Amounts re￿1Ve￿I1refund1 issued) in year Amounts credited to statement ol financial activitie5 378.899 2.836.724 12.126.445) 1.089.178 926.937 1,432.332 11.980,3701 378,899 Totsl deferred sncome at 31 December NEW WINETRUST-TRUSTEES. ANNUALREPORT ANDACCOUNTS 2023 41

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 18. Fund details and othef notes Transfws and Un￿all$ed 8ains Balance at I Jan 2023 8alance at 31 Det 2023 Income Expendi￿ General fvnds 633.9C 3.546.547 13.533.967) 129.1761 617,310 Deslgnated fvnd5 Fixed asset5 Lknielopment of New Wine 21.475 263.795 285.270 114,6431 113.7331 128.376 6.913 69.708 76.621 13,745 319,770 333,515 Total unrestritted fuNIs 919.176 3.546.547 13.562.343) 47.445 950.825 R*strirtÈd funds Seed money Grant funded projert Total restricted fvnds 9.399 9,399 75.406 75.406 176.2061 176.2061 13.638.549) 9.399 9.399 Total-all lunds 928.575 3.621.953 48.245 960,224 Restricted funds are available for limited purp05e5. arising from the grant awarding body or don0￿% restrictions upon use. Designated fvnds are those unrestricted funds reserved for a speciftc purpose by the charity or otherwise not held in immediately realiseable form (such as the fixed asset reseryel. The development fvnd is intended to support ¢nve5tment In innovation and organisational effectweness as well as hol¢Ying the unrealised investment gains. lfi 2022. the development fund was used to fund a restructuring programme. induding a voluntary redundancy programme. 19. Analysis of conscAidated net assets beknn funds IGroupl General 2023 Designated Funds Restrirted Total Funds Funds Funds Fund balantes at 31 December 2023 (Group) are represented by: Fixed Assets 573.264 1.249.539 13.545 319.970 586.809 1,578.9D8 Current assets Qeditors: amounts falling due within one year 9,399 11.205,4931 617,310 11,205.4931 960.224 333.515 9.399 NEW WINETRUST-TRUSTEES, ANNUALREPORT AND ACCOUNTS 2023 42

NEWWINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 19. Analysis of consolidated net assets be￿en fvnds IGrwpl IconLI General Desi8nated Funds Funds 2022 Restricted Totsl Funds Funds Fund balances at 31 December 2022 (Group) a represent￿ by. Fixed Assets 525.019 680.959 21,477 263,793 546,496 954,151 Current assets editors.. amounts fallin8 due within one year 9.399 1572,0721 633,906 1572,0721 928.575 285.270 9,399 20. Analysis of consolidated net assets between funds Ichèrityl General 2023 Oesignated Funds Restritted Total Funds Funds Funds Fund balances at 31 December 2023 (Charltyl are iepresented bv: Fixed Assets 573.266 856.407 13,545 319.970 586,811 1.185.776 Current assets Creditors.. amounts fallin8 due within one year 9.399 11.113.717) 315.956 11,113,717) 658,870 333.515 9,399 2022 Genernl Designated Funds Restricted Totsl Funds Funds Funds Fund balances at 31 Oecefflbtr 2022 (Charity) are fepresented bv: Fixed Assets 525.021 355.713 21.477 263.793 546.498 628.905 Current assets Creditors.. amounts falling due within e year 9.399 1522.9711 3S7.763 1522,9711 652,432 285.270 9.399 NEW WINETRUSf- TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023 43

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDEO 31 DECEMBER 2023 21. Financial Commitments At 31 Detember 2022 the company had outstandir* comrnitments forfutvre minimum lease payments under norn- cancellabl? leases which fall a5 foll¢)w5'. 2023 2022 Photocopiers Futuo minimum operating lÈa5è payments In less than one year Befvleen one and five years Totsl 2.784 3,693 2,784 3,693 Land and Buildin8S Future minimum operating lease payments In les5 than one year Be￿leen one and five years Total 35.￿0 35.000 35,Q)O 35,000 22. Reconaliation of movement in fund5 to net Ca5hflow fr(kn operating èttr¥ities Group Charity 2023 2022 2023 2022 Net intorne I lejtpenditurel lor the repDrtinB period 31.649 219.665 6.638 12411 Add back depreciation IGainsl I losses on investments DNidends. interest and rents Decrease in stocks 14.643 148.2451 129.4471 2.778 28.365 69.084 116.8941 5.292 177.0241 1499.89SI 14.643 148.2451 126.2091 28.365 69.084 116.5301 Ilncrea5el / Oecrease in debtors Increase I IDecre35el in creditors Net cash pro¥lded byllused inl operating adfvitoes IIS8.7491 590.746 103.468 1362,8951 633,421 517.799 1271.4071 378.824 117B,7491 23. Notes to the consolidated cash flow movement Analysls of tonsolidated tash flow mty¥erne At 31 Oecember 2022 At 31 Decernber 2023 Cash flows Cash at bank and in hand 67L044 540.535 1.211.579 Totsl cash at bank and In hand 671.044 540,535 1.211,579 NEW WINETRUST-TRUSTEES. ANNUALREPORT AND ACCOUNTS 2023

NEW WINE TRUST NOTES TO THE ACCOUNTS FOR THE YEIIR ENDED 31 DECEMBER 2023 24. frustees None of the trustees received any remuneration during the yearfor seThites as trustee. Travel and meeting expenses for all trustees amounted to £IOO12022.. £4671- one trustee received expenses to reimburse travel costs12022.. 3 trustees Incur￿ expenses). No trustee received honoraria for speakin8 at the United National Gatherings in the year or prior year. Whilst tW5tees are eli8ible for free ttckets and accommodation for the Conferences, when they will be attendin8 in an offlcial capacity. S tnI5teÈs intentitsnally made lull payrnent to attend the summer conference. At the year*nd there were no outstartdin8 as payments to trustees and their related parties for serVi￿S other than as a trustee12022: £131 regate donations received fmm the trustees or ￿lated parties without condthons was £3.68512022'. £9.6551 25. Related party relationships and transactions Royally payments Ouring the year, no royèlty payments were payable to Revj and Mrs Cole512022: £131 in connection with books authored by them and 501d via the trading company. Service prowsion There were no related party tran5action5 to report in respect of Service provision during theyear. Durin8 the year, a number ofthe Trustees purthased a£￿$5 to New Wine Online frorn the Subsidiary company at the standard pri￿ for this service. Othef than as reported above. and within note 22, the￿ were no other related party transartions duringthe year ended 31 December 2023. 26. Contin8ent knabilities No contingent liabilities were retognised at 31 December 202312022-. nill. 27. Events after the reporting date New Wine have reviewed the finanoal statements for 2023 and consider that there are no cirpjrnstances arising after the balance sheet date warranting any atlditional disdosure or adjustment of values presented. NEW WINETRUST-TRusfEES' ANNUALREPORT ANDACCOUNTS 2023 45

li