Grand Union Wineyard thurth Milton Keynes Charfty No. 1090567 Company No. 04301421 Tru5tees' Report and Unaudited Accounts 31 March 2021 UV03DAP 1410112022 OMPANIES HOUSE *A4KEiM4B• 3011212021 COMPANIES PIOUSE 151 A14
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Grand Union Wineyard Churth Milton Keynes Contents )1 Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 10 to-10 Iltoll Summary Income and Expenditure Account Balance Sheet 12to12 13to13 Statement of Cash flows 14to14 Notes to the Account5 15to22 Detailed Statement of Financial Activities 23to24 PaBe I
Grand Union Vineyard Church Milton Keyne5 Trustees Annual Report The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006. present their report with the unaudited financial statements of the charity for the year ended 31 March 2021. REFERENCE AND ADMINISTRATIVE DETAIL5 Company No. 04301421 Charity No. 1090567 Registered oifice Netherfield Chapel Broadlands Netherfield Milton Keynes MK6 4YP Directors and Trustees The Director5 of the charitable company are its Trustees for the purposes of charity law. The following Directors and TTUStees served during the year- Alex Millingt¢ (Resigned l December 20201 Dayo Adedapo Chair Christopher Robert L)esmond Morley Senior Pastor Oluwatuminu Omoniyi Balogun Treasurer Nicholas Freer David Cooper David Nicholas Lee Natalie-Louise Burnapp Graham Edward Crusoe Dunn Jill Gentle Co-opted (Resigned l November 20201 Accounlants Trackrecords Management Services Limited The Farthing Enterprise Unit 10, 39 Farthing Grove Netherfield Milton Keynes MK6 4JH Page 2
Grand Union Vineyard Churth Milton Keynes Trustees Annual Report Grand Union Vineyard Church continued to operate in 2020121 out of Netherfield Chapel. The period under review was defined by the global Covid-19 pandemic. This.led to a number of changes in the way we operate. including closing the Monkston Primary School Site. Chri: Morley continucd to Icad the church through ?021 and he continued to set tho direction of thc church building a leadership team that will lead the church into the future. Despite these challenges..we have continued to serve our city. Airns and Purposes The Trustees of Grand Union Vineyard have the responsibility of COPeratIng with the Senior Pastor, pastoral staff. and leadership tearn in prornoting the aims and mission of Grand Union Wineyard Church (connect. grow. 5ervel. Additionally. trustees are also responsible for the upkeep and maintenance of Netherfield Chapel. Broadlands. Milton Keynes. Objettives and arti¥itses We believe that the calling of Jesus is to love those around us. and we have the privilege of serving the least, the last and the10st within Milton Keynes and the three counties region. We do not discriminate according to ethnicity, gender. 5exLtality. or background. We are in the business of transformation and Seeing people come into a livine relationship with Jesus. Our broad aims continue to be the following.. CONNECT- sharing the good news of Jesus Christ. GROW - equipping and discipling followers of Jesus Christ, SERVE- practically showing the love of Jesus to those around us. Our vision statement 1S'to be a worshipping community where anyone can encounter God and become more whole while serving others. Athievements and Performance l.Sharin ood new5 of Jesus Christ We welcome those of all faiths or none. and from every back£round who wish to visit usor make use of the. StorChouc. Community Fridge, wcllboing momingd. art journaling and other public events. Wo continuo.to welcome people who have had little or no previous interaction wrth the church. During the year church members continued to share the transforming power of Jesus and his gospel with compassion and generosity through ministries indudiDg= Giving out toffee & food on Sunday Alpha courses (online and in per50n) Small groups blessing the community Wellbeing events Coffee momines / virtual coffee mornings • Online social events Page 3
Grand Union Wineyard Church Milton Keynes Trustees Annual Report The global Covid pandemic impacted the church in that we had to adjust many ministries over this period. Wc cloucd in pen JeNces a week beforc the Govcrnmcnt mandated lockdown of thc 23rd of March 2020. Our Servi5 held online during the various k)ckdowns with people contributing online from their own homes. Where we have been able to resume in-per50n services. we have continued to integrate online. services to include those unable to safely meet in the building. We also were able to movc rJmall groups and bible rtudy onlinc (Union group=) and provide a progr.amme of social gatherings online. We recognised the impact lockdown isolation would have on people and developed a programme of online social and ministry events that included daity coffee meeting5, prayer meeting:. onlinc quizzes. coonE and baking get togcthers and art joumJlin& along with othcr Jocial and ministry meetings. All Social and ministry events online have been open to all and have served to lessen isolation both of church members and those who have joined us online at events for the first time. In providing Sunday services. we took the decision to close the Monkston campus because the costs of . rentinE and managing the campus would have been a financial burden on the church without the benefit of using it during various lockdowns. Part of the 50cial upheaval of Covid is that we lost some members who moved away from Milton Keynes. We also lost some members over the decision to close Monkston who for various reasons did not want to attcnd le1¥ Jt Nctherfield chapel. However. the cost/benefJt analysi4r meant that wc nccdcd to make this tough decision. We continue to provide Sunday services at Netherfield Chapel. as one church in one place, along Wlth interactive streaming for those online. We have been pleased.to welcome new regular members who.have joined us regularly both in-person and online during this year. We attempted to move youth meetings online. but this was unsuccessful as the buy-in from the youth (who are primarily from Netherfield Estate) was negligible. This is due to their financial situations making online acce55 difficult. Although we are now able to hold in person events, our youth group in Netherfield Chapel has not restarted yet. The couple who led it welcomed a baby to thcir family and felt that thcir time of leading in youth had ended. We thank them for their fatthful ser4ice. Once we reopen fully. we will look at youth and how we continue this important ministry. Our hope is to establish a youth work in partnership with other organisations in Milton Keynes. For children, V41e. introduced online children's ministry. and Tan online and in person bakinge*ieiits aiid half- day holiday events for children open to all. Over5ea5" During the yoar we providcd rJUPPOrt to the 0Verya. projccLr :hown below. who 5harc our oim to=harc thc good news of Jesus Christ, through activities which range from running prayer groups to giving financial 5UPPOrt= The Eagle Project lin Brazill • Hope for Justice Page 4
Grand Union Wineyard Churth Milton Keynes TNstee5 Annual Report ui In disci lin£ followers of Jesus Christ Each Sunday we have continued to run the morning seTwce, which seeks to equip. teach. and disciple church members and visiting Christians. Part of the year was online due to lockdowns and caution to serve and love each other by prioritisir*g safety during the pandemic. and where able. in person with combined and interactive online streaming. We continue with the ethos of an informal and relaxed atmosphere.. We have had new members join u5 both online and in person during this period We incorporated children's ministry in our online seryices. When we resumed in-person seThices, we reintroduced Children's church meetings. Members are encouraged to join one of the small groups (union groups) that meet mid-week. tth online and in people's homes. In the period under review. we established two new union groups. Union groups are ' a place to discuss Sunday teachin& support each other in discipleship and to equip eath other. 3.Practicall showin the love of Jesus to those around us We continue to seek woy5 to Serve all sections of the community creatively and. The range of compassion ministries we support are diverse. and during the year included: • MK Storehouse- The MK storehouse exists to gyve clothes to those who have Irttle and a place where they feel welcome and loved. Community Fridge- Providing free. fresh food donated by the local supermarket to those that need it and reducing the amount of food wastage going to the landfill. Wellbeing Morning5: Providing a safe and welcoming place forpeople oversixteen to get rest from the chaos of life and have time to be refreshed and pampered. • Art Journaling.. Providin8 a place where people can socialise and share a time of refreshing and expressing themselves through art. Wise Ones- This is a group that meets to provide company for people who are i501ated. HE Café: We provide space for Home Educator parents and children to socialise MKStorehouse Oespite Covid, the MK Storehouse has continued to operate. We have served over 6400 guests in our first five years. During initial lockdowns. in-person work and distribution of clothes was suspended. We continued to serve our tommunity through this period by liaising with council s(xial workers who identified and communicated specific needs to us. We were then able to make up packs for the social workers to take out to those in need. When we reopened from lockdown. we operated in a Covid safe environment. We had appointment-onlv sessions and we created clothing pack5 for those who could not attend in person. distributing them to those needing support. Comrnunity Fridge CommL¢nity Fridge continued at our building in Netherfield, with food donated from local supermarkets. Sn the period under review. we had 4820 visits and diverted eighteen tons of food waste from landfills. This has had a positive impart on our local community by helping provide free food to those that are in need and reducing the amount of food waste going to landfill. Page 5
Grand Unlon Vineyard Church Milton Keynes Trustees Annual Report Despite attempting to keep community fridge serving the community during the initial lockdown. Milton Keynes Council asked us to Suspend distributing food because of the inherent risk of people gathering. As an alternative. during the strirtest lockdowns. we ueated food packs and dropped them at people's homes when there was a need. Since reopenin& we have seen an increase in the number of people attending. We reopened with covld safe protocols. Choritoble Portne Vineyord Churches UK & Ireland connects churche5 With common values and practices. provide5 spiritual guidance and oversight to Vineyard church leaders and facilitates new church planting. We use the name Vineyard with their permission and give 5% of our voluntsry income and trading profits. Hopeforjustice is an anti-human trafficking organisation working to uncover and abolish the hidden crime of modern-day slavery. As a non-governmental organisation INGOI they gather intelligence ènd assist in the process of removing victirn5 from exploitation within the UK. Human trafficking is not someone else's problem. It is happening in our communities. in our nei8hbourhoods. in our country. The Eagle Projert: after many years working with street children in Brazil. George and Cally founded the Eagle Project in 2(. Based on the principles of restorative justice. George. Callie, and their team use psychodrama. mentorin& coachin& and counselling to equip young offenders to reintegrate into families and communities upon their release and avoid reoffendin& Bridge Builder frust MK: We are a Christian charity that has been working in the primary and secondary schools of Milton Keynes since 1992. Facedwith rising demand for our work across its one hundred plus schools.. our vision is of a Trust that can meet the challenge of supporting the personal. social. moral, and spiritual development of chiklren and young people in our growing city- FINANCIAL REVIEW The management accounts show Net Income of £28.936.17 for the year. However the financial accounts show a Net Income of £27.183 because it takes depreciation into account. The principal source of income was from unrestricted givin& totalling £63.178.01 in the year. The monthlv incorne peaked in May 2020 beforeit consistenty dropped month on month until January 2021 to an all-time low of £4.180.15. February and March 2021 saw a 4.9% inuease on January living. For half of the year, gift aid claims were not made at all. This voluntary income has reduced during the year because of the loss of members with the closure of the Monkston Campuss people readjusting their lives in light of Covid and with some movin8 awav. Of note, we have had other income in the year. in excess of É40.OLKI. mainly from grants. As a result of the closing of the Monkston campus. the structural costs of the organisation have been reduced with the rent and associated costs stopping. Other expenses that have been afferted this year include salaries, where we subscribed to the government's flexible furlough scheme Istatt working reduced hours} from November 2020, halving the associated costs. and other ministry costs such as conferences and sundry expenses. Despite the reduction in income in the year we have continued to press forward with our outreach activities. Page 6
Grand Union Vineyard Church Milton Keynes Trustees Annual Report The financial statements have been prepared in accordance with the accounting Polic set out in note I to the financial statements and comply with the charity's memorandum and articles of association. the Companies Act 2006 and "AccountinE and ReportinE by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in actordance with the Financial ReportinE Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods tommencing from l January 2016 RESERVES POLICY Rationole We maintain reserves in order to cover fil3tnS in incorne and expenditure. to allow for any unexperted major expenditure requirement. or to mttigate any decline in the overall financial environment. We also believe that maintaining the free reserves at levels around three months running c05ts, combined with appropriate reviews of the controls over key financial systems. provide sufficient resources in the event of unexpected adverse condwtions. We also believe ih3t maintaining the free reserves at levels around three months running costs. combined with appropriate reviews of the controls over key financial systems. provide suFficient resources in the event of unexpected adverse conditions. Torget Level Three months of medium-term commitments such as staff costs for permanent staff and building costs. The unrestrirted reserves held as at 31st March 2021 of £226.642 (also including the value of the property) are around where we expert them to be. Mointenonce We review, on a half-annual basis. the level of reserves held. Review of Poliry We aim to review whether the policy itself remains appropriate at least once per year. We continue to be encouraged that our church members. commitrnent has not faltered during these thalleneing economic times. The churth continues to fulfil its mission, as tan be seen by its ongoing accomplishment of its goals. and 141 addition, we will continue to investigate more opportunities to serve those in the city and. beyond. Investment Powers and Poliry Our articles authorise us to invest our funds and cash balances are currently held with Lloyds TSB. We have operated a policy of keeping available funds within interest-bearing deposit accoLtnts having regard to liquidity requirements. The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. Risk Monogement The systems of internal control are designed to provide reasonable. but not absolute. assurance against material misstatement or1055. Page 7
Grand Union Wineyard Church Milton Keynes Trustees Annual Report They include.. - an annual budget approved by the trustees -regular consideration by the trustees of financial reports- delegation of authority and segre8ation of duties: identification and management of risks. We aim to regularly review the main risks that the church face5. The trustees consider the key risks to church like ours to be finan5. safeguardin& health & safety and hurnan resources. We emp¥ specialist finance staff. are members of Thirtyone-eight to assist with safeguardin& have trustees with health and safety experience and have specialist outsourced human resource5 competence to help manage these risks. We believe that the internal financial controls conform to guidelines issued by the Charity Commission. Strurture, governance. and management Goveming Document OrganisOtionalStrurture.' We are a registered charity. duly constituted by means of our Memorandum and Artitles of Assotiation and operating as a church. We are also a company limited by guarantee, in which the company directors form the board of trustees. The liability of each trustee in the event of a winding-up is limtted. The trustees, who are also the directors for the purpose of company law. and who served during the year and up to the date of Signature of the financial statements were: D ADEDAPO ICHAIRI CRD MORLEY (SENIOR PASTORI T BALOGUN ITREASURERI N FREER D COOPER DLEE N BURNAPP ISAFEGUARDINGI G E C DUNN ICO-OPTEDI Appointment of Trustees New trustees are appointed when appropriate. Suitable candidate5. who are selected from within the church membership. are considered based on their skills. experience and sympathy with the aims of the church. New trustees have the opportunity of reviewing appropriate documents. induding the management accounts. as part of their indurtion process. Senior Leadership Team (SL TJ The day to day running of the church is delegated to the employed pastoral and operational staff. The staff are led by the Senior Pastor. Chris Morley. and their Senior Leadership Team a5 follow5- Chris Morley Isenior Pastor) Sue Modev Rachel Kleinsmith (DSL Outreach and Administration) Rachael 5nwood {Worshipl Rebecca Walters (Children's Church) Page 8
Grand Union Vineyard Churth Millon Keynes Trustees Annual Report The Trustees are responsitrAe for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial 5tstement5 comply with the Companies Act 2006. The Trustees are also resF)onsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in attordance with the provisions applicable to companies subjéct to" the small companies regime as'set out in Part.15 of the Companies Act 2(X)6 and in accordance with the Charities SORP IFRS 1021. The trustees declare that they have approved the trustees. report above. Signed on behalf of the'board Dayo Adedapo Trustee 31 March 2021 Page 9
Grand Union Vineyard Church Milton Keynes Independefit Examiners Report IndÈpendent Examiner's Report to the trustees of Grand Union Vlneyard Church Mllton Keynes I report to the chafity trustees on my examination of the accounts of Grand Union Wineyard Church Milton Keynes for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account. the Balance Sheet. the Ststernent of Cash Flows and the related notes. Responsibilities and ba51s of report As the trustees of the charity land also its directors lor the purposes of company lawl you areiesponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfied myself that the accounts of the charity are not required to be audtted under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's account5 as carried out under section 145 of the Charities Act 2011 {'the 2011 Art'l. In carrying out my examination I have fdlowed the Directions given by the Charity Commission under section 1451Sllb) of the 2011 Act. Independent examiner's statement I have completed my examination. I can confirm that no material matter5 have come to my attention in connection with the examination giving me cause to believe that: • accounting records were not kept in accordan wth sertion 386 of the 2006 Art - or the accounts do not accord with those records.. or the account5 do not comply with the accounting requirement5 under sertion 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination: or • the accounts have not been prepared in accordance with the Charities SORP IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Ebenezer Nelson-Addy IFA Trackrecords Management Services Limited The Farthing Enterprise Unit 10. 39 Farthing Grove Netherfield Milton Keynes MK6 4JH 31 March 2021 Page 10
Grand Union Wineyard Churth Milton Keyne5 Statement of Finanaal Actlvities for ihe year ended 31 March 2021 Unrestricte d funds 2021 Restrirted nds Total funds Totsl fund5 2021 2021 2020 Notes Income and endowments from: Donations and legacies Charitable activities Other trading artivitie5 Other 72.820 678 72.820 678 41,040 118,881 5,931 io,iii 18,7-77 41.040 114,538 .114.53.8. 153,700 Expenditure on: Raising funds Charitable activities Other 1.5(K) 23.568 62.287 1.500 23.568 62,287 ' 26,574 26.476 107.147 io Total 87.355 87.355 160.197 Net gains on investments Net incomellexpenditure) Transfers between fvnds li 27.183 27.183 16.4971 Net income/lexpenditure) before other gains/{losses) 27.183 27.183 16.4971 Other 8ains and losses Net movement in funds 27.183 27.183 16.4971 Reconciliati of fvnd5: Total funds brought fonyard 199.459 32,650 232.109 238.606 Total funds carried forward 226.642 32,650 259,292 232,109 Page 11
Grand Union Vineyard Church Milton Keynes Summary Income and Expenditure A¢¢ount for the year ended 31 March 2021 2021 2020 Income 114.538 153.700 Gross income for the year Expenditure 114.538 85,601 153.700 157.859 Depreciation and charoes for impairment of fixed assets 1.754 2.338 Total expenditure lor the year Net incomel(expendituie) before tax for the year 87.355 160.197 27,183 16,4971 Net income /{expenditure Ifor Ihe year 27.183 16,4971 Page 12
Grand Unlon Vineyard Church Milton Keynes Balance Sheet at 31 March 2021 Company No. 04301421 Notes 2021 2020 Fixed assets Tangible assels 14 184,751 184,751 186,505 186.505 Current assets Debtors Cash at bank and in hand 15 2,812 73,968 76.780 (2.239) 74,541 2Sg.292 259,292 4,113 43,730 47,843 12,2391 45,604 232.109 232.109 Creditors:. Amount falling due within one year Net current assels 16 Total assets less current liabilities Net assets excluding pension asset or liability Total net assets 259.292 232.109 The funds ot the charily Restricted f unds RestriCLed income funds 17 32.650 32,650 32.650 32,650 Unrestricted f unds General funds 17 226.642 226.642 199,459 199,459 Reserves 17 Total funds 259,292 232,109 These accounts have been prepared in accordance with the special prolOn$ of Part 15 of the Companies Acl 2006 relating to small companie5. For the year ended 31 March 2021 the company was entitled lo exefflption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance wlth section 476 of the CompaniesAct 2006. The directors ackrr0edge their responsibilities for complying wrth the requirements of the Companies Act 2006 wilh respect to accounting records and the preparation of accounts. Approved by the board on 31 March 2021 And signed on its behalf b. Dayo Adedapo Trustee 31 Marc 021 Page 13
Grand Union Vineyard Church milt( Keynes Statement of Cash flows foi the year ended 31 Marth 2021 2020 Cash flow5 from operatinz activit Net 1ntomc/loxd•turQ} per Statement ol Financial Arti¥ities 27.183 16.497) Adjustments for: Depreciation of property. plant and equipment Decreaselllncreasel in trade and other receivables Decrease in trade and other payables 1.754 1,301 2,338 11,1711 15.267.) Net cash provided byllused in) operatinE activities 30,238 129,3741 Net cash from investln8 artlvlties 18,777 Net cash from financing actlvities Net increase/{decrease) in cash and cash equivalents 30.238 110.5971 Cash and cash equivalents at the be£innin£ of the year 43,730 54,327 Cash and cash equivalents at the end of the year 73,968 43,730 Components of cash and cash equbvalents Cash and bank balances 73.968 43,730 73.968 43.730 Page 14
Grand Union Vineyard Churdb Milton Keynes Notes to the Accounts for the year ended 31 March ZOZI l Accounting policies Basls of preparation The financial statements have been prepared in accordan with Accounting and Reportirng by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 (Charities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Art 21J)6. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made toaccounts for previous years. Fund accounting Unrestricted"funds These are available fcir use at the discretion of the triistees in furtherance of the general objects of the charity. These are unrestrirted funds earmarked by the trustees for particular purposes. These are unrestrirted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrirtions imposed by the donor or through temis of an appeal. Designated funds Revaluation funds Restrirted funds Income Recognition of income Income is included the Statement of Financial Activities ISOFAI when the charity becomes entttled to. and virtually certain to receive. the income and the amount of the income can be measured with sufficient reliability. Income with relateij Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOF Donations and legacies Voluntary income recetved by way of Erant5. donations and gifts 15 included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tsx reclaims is included in the SOFA at the same time as the donation5 and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable. measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gainslllosses) on This indudes any gain or loss resulting frorn revaluing investments to market revaluation of fixed value at the end of the year. assets Gainslllossesl on investment assets This includes any gain or loss on the sale of investments. Page IS
Grand Union Vineyard Church Milton Keynes Notes to the Accounts Expeftdire Recognition of expenditure Expenditure is recognised on an accruals basis. ExpendFture includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relate5. Expenditure on These comprise the costs 3550ciated with attracting voluntary income, fundraising raising funds trading costs and investment Management costs. Expenditure on These comprise the c05ts incurred by the Charity in the delivery of its activitie5 charitable activities and service5 in the furtherance of its objects. including the making of grants and governance costs. All grant expenditure 15 accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These intlude those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, c05ts linked to the Strategic management of the Charity. together with a share of other administration costs. These are support costs not allocated to a particular artivity. Grants payable Governance costs Other expenditure Taxatlon The charity is exempt from corporation tax on its charitable activities. Tangible fixed assets and depreciation Depreciation is provided at the following annual rate5 in order to write off each asset over its estimated useful life: Freehold property Plant & machinery Fixtures, fittings & equipment 0% Straight Line 25% Straight Line 25% Straight Line Freehold investment property Investment properties are measured initially at cost and subsequently at fair value èt each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Pension costs The tharity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the ontributions have been paid the company has no further payments obligations. The contributions are recognised os expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. 2 Company status The company 15 a private company limited by guarantee and consequently does not have share capitsl. Page 16
Grand Union Vineyard Church Milton Keynes Notes to the Accounts 3 Ststement of Financial ActiVit- year Unre5trirted Restrlcted funds funds Total funds 2020 20ZO 2020 Income and endowments from: Donations and legacies Charitable activities Other tradin8 activities Other 114.442 4,439 5.931 5.675 18.777 118,881 5.931 io,iii 18.777 4.436 Total 118.878 34,822 153,700 Expenditure on.. Ra'ising funds c.haritable activities 16.861 26.371 107.147 9.713 105 26.574 26.476 107.147 Other Totsl 150.379 9.818 160.197 Net Income {31.5011 25,4 16,4971 Net Income'before other gainslllossesl ..Other gains and losses: Net movement in funds {31.501) 25.1x14 {6.4971 131,5011 25.LK14 16.4971 Recondllatlon of funds: Total funds brought forward Totsl funds carried fonvard 230.960 7.646 238.606 199,459 32,650 232.109 4 Income from donations and kpcies Unre5trirted Totsl 2021 Total 2020 . ,Donations and.Gifts 72.820 72.820 72.820 72.820 118,881 118.881 5 Income from tharitable activities Total Total 2021 2020 Charitable activities 678 678 678 678 5.931 Page 17
Grand Unlon Vineyard Church Milton Keynes Notes to the Arcounts 6 Income from other trading aclivities Unrestrirted Total Total 2020 2021 Other activities for generating funds ActFVities for generating funds Incoming resources from Benerated funds 41,040 41,040 6.162 2,974 975 41.040 41.040 io.iii 7 Other Income Total Totsl . 1020 2021. Storehouse Grant5 18,777 18,777 8 Expendlture on raislnz funds unrtricted Total Total 2020 1021 C05t5 Of genen7ting voluntary income Direct church running activities Gifts related to church activities 10,337 1.5(M) 1.500 16.237 1,5(Kl 26.574 9 ". Expenditure on charitable activities Unrestricted Total Total 2021. 2020 Expenditure on choritoble ortivities Charitable activities Other resources used 23.568 23.568 25,409 1,067 Governt7nce costs 23.568 23,568 26,476 Page 18
Grand Union Wineyard Churth Milton Keynes Notes to the Accounts 10 Other expenditure Totsl Total 2021 2020 Employee costs Motor and travel costs 44.118 44,118 75.222 Premises costs Amorti5ation. depreciation. impairment, profitnoss on ."disposal of fixed assets General administrative costs 5,347 5.347 . 17,153 1.754 1.754 2.338 5.666 7.,853 4,573 107,147 Legal and professional costs 5.402 62,287 5.402 62.287 11 Net incomellexpendityre) befo transfers 2021 2020 This is stated after charging- Depreciation of owned fixed assets 1,754 2,338 12 Trustee remuneration and expenses One or more of the trustees has been paid remuneration in the current or prior periods. One or more of the trustees has been paid expenses in the current or prior periods. 2021 2020 Number Number Number of trustees paid expenses The nature of the reimbursed expenses Con5ultanry C05ts- Grant application Total expenses reimbursed to trustee5 2,4LM) 13 Staff costs Salaries and wages Social security costs Pension costs 40,673 407 58,938 10,550 5.510 74,998 3,025 44.105 No employee received emoluments in excess of £60.CKKI. The average monthly number of full time equivalent employees during the year was as follows.. 2021 2020 Number Number Page 19
Grand Union Vineyard Church Milton Keyne5 Notes to the Accounts 14 Tan8ible fixed assets Land and buildin Plant & mathinery FIXre5. fittings & equipment Total Cost or revaluation At l April 2020 At 31 March 2021 Depreciation and irnpairnient At l April 2020 Depreciation charge for the year At 31 March 2021 179,492 179,492 7.793 7,793 69,098 69,098 256.383 256.383 6.826 63,05.2 69.878 242 1,512 1.754 64.564 71,632 Net book values At 31 March 2021 At 31 March 2020 15 Oébtors 179.492 179.492 725 967 4.534 6,046 184.751 186,505 2021 2020 Other debtors Prepayments and accrued income 2.805 4.106 2,812 4,113 16 Credltois: amounts falling due thin one year 20Zi 2020 Other creditors 1.239 2.239 2.239 2.239 Page 20
Grand Unk•n Wineyard Churth Milton Keynes Notes to the Actnts r. 17 Movement in funds Incoming resources At31 March linduding At l April other 2020 gainsllosses) Resource5 expended 2021 Restrirted funds: Restrirted income funds: Donations arbd Legacies 32.650 32.650 Totol 32.650 32.650 Unrestricted funds: - General funds 199,459 114.538 187.3551 ' 226.642 Revaluation Re5er¥e5: Totsl fvnd5 232.109 ' 114.538 187.355) 259.292 Purposes and restrictions in relation to the fund5: Restricted funds.. Donations and Legacies 18 Analysis of net assets between funds Unrestrirted Restricted fvnds funds Total Fixed asset5 184.751 72.102 256,853 184.751 74,541 259.292 Net current assets 2,439 2,439 19 Reconciliation of net debt At31 March 2021 At l April 2020 Cash flows Cash and cash equivalents 43.730 43.730 30.238 30.238 73.968 73.968 Net debt 43.730 30.238 73.968 Page 21
Grand Union Vineyard Church Milton Keynes Notes to the Accounts 20 Commitments Operating lease comMitnnts Annual comrnitments under non-cancellable operating leases are as follows: 2021 2021 2020 2020 land and Iwildings land and buildings Other Other Operating leases with expiry date: Pension commitments 2021 2020 The pension cost charge to the company amounted to.. . 3.025 .-5,510 21 Related party disc105ures Controllinqporty The company is limited by guarantee and has no share capital- thus no single party controls the company. Page 22
Grand Union Wineyard Church Milton Keynes Detailed Statement of Financial Artivilies for the year ended 31 Marth 2021 Unrestrirted funds Total funds 2021 2021 Total funds 2020 Income and endowments from: Donations and legacies Donations and Gifts 72,820 72.820 72,820 72.820 118,881 118,881 Charitable actNities Charitable activities 678 678 5.931 5,931 678 678 Other trading activities Other activities for generatine funds Activities for generating funds Incoming resource5 from generated funds 41.040 41,040 6.162 2.974 975 41.lYIO 41,040 io,iii Other Storehouse Grants 18.777 Tolal income and endowments 114,538 114,538 153.700 Expenditure on: C05ts of generating donations and legacies Dirert church running activities Gifts related to church activities 10.337 16.237 26.574 1.500 1,500 1,500 Totsl of expenditure on raising funds 1,500 26.574 Charitable activities Charitable activities Other resources used 23.568 23,568 25.409 1.067 26.476 23,568 23,568 Total of expendlture on charitsble acthiities 23.568 23,568 26,476 Employee costs Salarieslwages 'Employer's NIC Pension costs 40,673 407 40,673 407 . 58.938 10,550 5,510 119 3,025 3.025 Staff entertainment Staff welfare 13 13 44.118 105 44.118 75,222 Page 23
Grand Union Vineyard Church Mihon Keyne5 Detailed Statement of Financial Activities Travel and subsistence Premises costs Rent Light. heat and power Premises repairs and maintenance 423 423 10.377 5,089 2,000 1,815 1.815 1,687 Other premises costs 1,109 5.347 1.109 5.347 17.153 General administrative costs. including depreciation and amortisation Depreciation of Plant & machinery Depreciation of Fixtures. ffttings & equipment Bank charges General insuran5 Software. IT 5UPPOrt and related costs 242 242 323 1.512 1,512 2.015 152 152 1.376 218 1.376 1.782 1.707 1.707 2,119 Stationery and printing Subscriptions Sundry expenses Telephone. fax and broadband 1.457 686 46 1.457 1,749 569 517 46 242 242 899 7.420 7,420 10,191 Legal and professional costs Other legal and professional costs 5.402 5,402 4,573 5,402 5,402 4,573 Totsl of expenditure of other costs Total expenditt¢re Net gain5 on investrnents 62,287 62,287 107,147 87.355 87,355 160,197 Nel incomel{e¥pendirej 27,183 27,183 16.4971 Net incomèl(eKpenditure) before other g•in5111055es) Other Gains 27,183 27,183 16.4971 Net movement In funds 27.183 27,183 16.4971 Reconciliation of funds: Total funds brought fonvard 199.459 32,650 232,109 238,606 Total fvnds carried forward 226,642 32,650 259,292 232,109 Page 24