**
Newwine
Annual
Report
New Wine Trust
Trustees, Annual Report and Accounts for year ended 31 December 2023.
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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 IK*ld 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 consis*ntly',
• 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
Unrestr*ted Restricted
Funds
Funds
Total
2022
Funds
Ftsnds
No
Income frorn".
Don*ionsi 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
Expenditur*on-
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 expend*ur¢
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
r*oup
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 a5s*ts 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 Iles*n*ed
24.8Cfj
1.163
1.365
464
27.798
24.8L
1.163
262,436
378.014
Subtotal-G*nernl 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 fvemèr*e
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