2022-12-31-accounts - New Wine International

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Company information
Directors' report	3-9
Auditors' Report	10-13
Consolidated and Charity Statement of Financial Activities
Consolidated and Charity Saiance Sheet	1S
Consolidated Cash Flow Statement	16
Notes to the accounts	17-25

			Unrest-	Desig-
			ricted	nated	Restricted	Group	Group	Charity	Charay
		Note	Fund	Fund	Fund	2022	2021	2022	2021
				g	g		f
Income aad Expeoditure
Incoming Resources
Incoming resources	frora generated
funds:
Voluntary income;
Donations and legacies		2	1,493,749 1,493,749			1,493,749 1,493,749	1,545,666 1~5,666	1,493,744 1,493,74	1,498,045 1,498,045
incoming resources	from charitable
activities:
Boos.shop		3	434			434	589	431	589
Iovestmcnt Income		4	19,969			19,969	34334	19,96t	34,234
Gain/loss on iangiblc	assets	5					653,660		653,660
Trading iocome		6	8,641			8,641	2388
Total Incoming Resources			1,522,793			1,522,793	2236,537	1,514.15	2, IS6,528
Expenditure
Raising funds		9	3,575			3,575	4,086	3.575
Trading Expcnscs		6	62,973			62,973	66,778
Charitable activities		7	1,812489			1,812,289	1,78S,871	1,812,28)	1,788,871
Total Expenditure			I 878 837			,I C537	3.357,735,5		1,792,957
Nct lacorae/(expeoditure) and net			(356,044)			(356,044)	376,S02	(301,71I)	393471
raovements in funds	for tbe	year
Reconeillstlon offunds
Total Funds Drought	Forward	at Ol/Ol/2022	6,434,644			6,434,644	6,057,842	6,898436	6,504,665
Total Funds Carried	Forward	at 31/12/2022	6,078,600			6,078,600	6,434,644	6,596,S28	6,898336

					Group	Group	Charity	Charity
				Nate	2022	2021	2022	2021
						6		f.
FIxed Assets
Tangible Assois Investments				13 14	5,S26,402 55825	S,S94383	4,677,338 300 4,677,638	4,705,613 300 4,705,913
Current Assets
Inventory
Trade receivables				15	94,165	162374	1,805,617	1,866,764
Cash at Bank	and in	Hand			692,489	~434 001	636,372	2369.386
					, 1		2,441,989	4,236,150
Creditors: Amounts		falling	dne
within one		year		16	371319	419,775	319191	407488
Net Current	Assets				415,435	2,176,600	2,082,124	3,828,662
Total Assets	Less Current		Liabilities		6,241,837	8,070,983	6,7S9,762	8,534,575
Crcditorsi Ainounts		falliag	due over	17	163337	1,636339	163,237	1,636339
one	year
Net Assets					,i~	ti,ST47988	6~&25	~lclif236
Represented	By:
Non-Charitable Trading Funds				20	(517,925)	(463,592)
(/nrestricted	Funds			ig	6 596 525 ~TA00	6,898336 ~Tf7vtg	6396,525 K3%325	6,898236

Philip Olusegun Adeyi
(Trustee/Director)

				2022	2021
Cash used in operating	activities
Net movement in funds				(356,044)	376,802
Add back depreciation				223/93	222,309
Deduct profit on disposal	s				(653,660)
Deduct interest income
in investing activities				(821)	(36)
Add interest paid				41,585	59,638
(Increase) decrease in stocks
(Increase) Decrease in debtors increase (decrease) in creditors				68709 ~48.556	170,331 ~35,885
				(72,334)
Cash Iiows from investiag		activities
Purchase oftangible fixed		assets		(155,312)	(38,590)
interest income				821	36
Interest paid				(41,585)	(59,638)
Cash provided by (used	in) investing
activities				(196,076)	(98,192)
Cash flows from financing activities
New loans in year
Repayment ofborrowing				(1,473,102)	(230,094)
Prooeeh ofsale offixed	assetts				2,108,478
Cash used in financing	activities			(1,473,102)
Increase (decrease) in cash		and cash
equivalents in the year				(1,741,512)	1,920,491
Cash and cash equivalents		at the
beginning ofthe year				2,434,00 I	513,510
Total cash and cash equivalents			at the end
ofthe year				692,489

					Group	Charity	Group	Charity
					2022	2022	2021	2021
					Unrestricted	Unrcstri(sed	Unrestricted	Unrestricted
							f	f
2.Donations		and	Legacies
Donations					1,286,028	1,286,02S	1,220,912	1,220,912
Gilt Aid					207,721	207,721	164,699	164,699
Business	Rates						47,621
Coronsvirus		Job	Retention	Schente			112434	112,434
					1,493,749	1,493,749	1,545,666	1,498,045
					Group	Charity	Group	Charity
					2022	2022	2021	2021
3.Shop become					Unrestricted	Llnresu icted	Unrestricted	Unrestricted
								f
Shop income					434	434	589	589
					434	434	349
					Group	Charity	Group	Charity
					2022	2022	2021	2021
4. Invesbneat		Income			Unres(rioted	Unrestricted	Unrestricted	Un(cstricted
						f
Deposit account			Interest		821	SZ I	36	36
Rent Received					19,148	19,148	34,198	34,198
					19,969	19,969	34434	34,234
5.Gain/loss	-	saic	oftangible	assets	2022	2022	2021	2021
						f	f
Net book	value		I January 2021				1,454,818	1,454,818
Net sale proceeds							2,108,47S	2,108,478
Goin/loss							653,660	653,660
6,Trading income			nnd Costs
					2022	2022	2021	2021
Trading	Income				8,64!		2,388
Administration					(62,973)		(66,778)
Government		grant received			(62,973)		47,621 ~((9,(37
Operating	Proriil/(Loss)				(54332)		(16,769)
Prutit/(Loss)					54,332		(16,769)

			tinmstriclcd	I otal	Total
				2022	2021
			6	8	t
StaffCosts			526,648	526,648	539,792
Social Security cost			52,805	52,805	50,192
Employer's pension cost			36,159	36,159	38,029
Rent and rates			4,$95	4,895	$,079
Insurance			13,409	13,409	18,800
Sudf medical and life	insurance		28,958	2$,958	49,322
Light and heat			26,557	26,557	22,800
Telephone &.internet			7,739	7,739	13+18
Post, stationery and soihvare			10,007	10,007	8,880
Mission and ministry	gifls		170,163	170,163	102,730
Christmas celebration			52,783	52,7$3	56,974
Ministry expenses			196457	196457	193,177
Tralnutg expenses			96,022	96,022	71,570
Service charges			19,963	19,963	15,303
Repairs and maintenance			53,717	53,717	76,497
TV and radio broadcast			107332	107/32	99,842
Outreach events			$9462	$9,262	52,866
Easter celebration			6,646	6,646	1,176
New year celebration			2,006	2,006	9,994
Conventioo			3$,376	38+76	28,169
Subscri ptions			14,009	14,009	16,149
Depreciation - fixtures	&fittings		29.991	29,991	50,723
Depreciation - freehold		property	130,442	130,442	129,136
Depreciation —plant tk machinery			23,155	23,155	2,743
Mortgage mterest			41,585	41,585	59,638
Advertising			5,017	5,017	GWG
Oovcrnance cost (note	8)		28,486	28,486	66,706
			1,$12389	1,812,289	1,788,$71

9.Cost ofraising	funds	funds				Unrestricted	Unrestricted	Designated	Designated	Total	Total
										2022	202i
9.I BookShop							f	f			f
Opening stock
Purchases							3,575			3375	4.086
Closing Stock
Total							3,575			3,575	4,086
AII the f3,575 in 2022 was charged						to unrestricted		funds,
10. Net lncmne/(expenditure)
Nct income/(expenditu2			e)	is stated	after
chargi ng/(cred	iIing):
								2022		2021
Auditors' rernunctation								7,500		7,500
Depreciation								!83,587		182602
11.Trustees' Remuneration				and Beaeflts
One trustee was paid		a salary off65,000 in					the year
								Group		Gmup	Charity	Chsri
12.Staff Costs								2022		2021	2022	2021
								f
Salaries								526,648		539,792	526,648	539,7
Employe/s National		Insurance						52,805		50,192	52,805	50, 1
Pension costs								36,159		38,029	36,159	38,0
								6 2.6	2	628,013	615,612	628,01
The average number		ofemployees			analysed		by funccion was:
								2022		2021
									18	18
									3	3
									21	21

2022	2021
		I

13	Fixed Assets-(Group)
		Furnltiuc
		Fixtures &	I reehoid	Pilant
		Equipment	Propeny	Machineiy	'I'otal
		f		f,
	Cost
	At I January 2022	216,393	7,992,i78	36,889	8,247,460
	Addition	5,138	65300	84,874		155,312
	Disposals
	Al 31 December 2022	221,531	8,057,478	123,763	8,402,772
	Depreckttioa:
	At I January 2022	172,9i2	2,145,187	34,978	2353,077
	Charge I'or the year	32,551	167387	23,155		223393
	Disposals
	At 31 December 2022	205,463	2,312,774	58,133	2,576370
	Net Book Value:
	At 31 December 2022 At 31 December 2021	16,068 43,481	5,744,704 5,846,991	65,630 5,826,402 391» 3
14	Fixed Asset Inymtment			Subsidiary
				Undertaking	Total
				Shares
				f
	Cost
	At 31 December 2022			300		300
	At 31 December 2021			300		300

15	Trade Reeelvablm
				Group	Group	Charily	Cluu ity
				2022	2021	2022	2021
						f	f
	Amounts owed by	group undeitakings				1,712,632	1,704,390
	Other debtors Pn:payments			87,714 6,451 . 6	120,744 41,630 6 .37	86334 6,451 120,744 41,630 1,8111,6»,866,
16	Creditors: Amounts	falling due witlsia	one year
				Group	Gtoup	Charity	Charity
				2022	2021	2022	2021
					f	f	f
	Bank loans and overdreJls			187,506	187306	187,506	187,506
	Trade creditors			98,901	77,315	89,047	66,428
	Other Taxes &Social Security			31,406	28,473	31,406	28,473
	Other creditors			22,656	23,634	22,656	23,634
	Deferred income			11,740	11,740	11,740	11,740
	Accrued expenses			19,010	91,107	17310	89,707
				371,219	419,775		,188

		Group	Group	Charity	Charity
		2022	2021	2022	2021
					f
Bank	Loans	163,237	1,636,339	163,237	1,636,339

			Balance	Incoming	Resources	Balance
			At	Resources	Expended	At
			01/01/2022			3I/12/2022
Uurcstrictcd		funds
General	fund		6,898,236	1,514,152	I,SIS,863	6,596,525
Building	repairs fund
Branches fund Totalfunds			, 9236,5 6, 52		3 965.963	6,596,525

19. Aa	alysis ofNet	Assets Between Fu	nds
				Non
		Restrimed	Unrcstrit:ted	Charitable	Designated	Revatuadon	T	tul
				Trading Funds
				f
Current	Assets		2,082,124	(1,666,688)			4I5,436
Fixed Assn(s			4,677,33S	1,149,063			5,$6,401
Loan			(163,237)				(16	437)
Investmcnt			300	(300)
			. 96525	65i9 9255			6,	8,600

The company	owns the	whole ofthe	issued ordinary	sham cspitai	sham cspitai	ofGateway	ofGateway	ofGateway	Incorporated Ltd,	Incorporated Ltd,	Incorporated Ltd,
a company intmrporated		in UK on 26June 2008.The		subsidiary		is	used	for commercial			activities.
It also owns the whole ofthe issued			ordinary shares ofanather		company,			Vista Hospitality Ltd,
a company ilncotporated		In UK on 13April 2009.This subsidiary				is also used			for	commercial activities
A third company, New		Wine Cenual	Ltd incorporated	on 20 August 20				IS in	ihe UK is also wholly			owned,
The subsidiary	is used for commemial		activities.
A summary ofthe rout)tv ot'the subsidiaries am shown below:
			Gateway	Vista			New Wine				Gateway	Vista	N	w Wine
		Incorporated		Hospitality			Ceniml			Incorporated		Hospitality		'entiral
			Lid	Lid				Lid			Lid	Lid		Ltd
			2022	2022				2022			2021	2021		2021
				f				f				f		6
Trading Income			8,641								2,388
Administmtion			(62.974)								(66,778)
Other operating	income										47,621
			62,974								(19,157)
Operating Pro	fiI/(Lass)		(34333)								(16.769)
Surplus			(54833)								(16,769)
The aggregate	ofthe assets, liabilities		and funds were:
Assets			1,206,701	100				100			1053,185	100		100
Liabilities			(1,723P86)							(1,716,667)
Shareholder Funds			(5)7,285)	100				100			(463,482)	100		100