2020-08-31-accounts - The Vine Trust Walsall

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	Page
Charity Reference and Administrative Details	1
Trustees Annual Report	2
Independent Examiners Report	10
Consolidated StatementofFinancial Activities	11
Consolidated Balance Sheet	12
Charity Balance Sheet	13
StatementofCashflows	14
Notestothe Financial Statements	15

VINE TRUST WALSALL (REGISTERED NUMBER 04370289)

Trustees' Annual Report Year ended 31st August 2020

The reserves policy is to be reviewed annually at the Annual General Meeting prior to the publication of the annual report.

Plans for future periods

The Charity's strategic review is titled Vine 30 -The Economy ofTogether

Live - We will continue to work to create supported Live/ work spaces in the St Matthew's Quarter in and around Goldmine Centre and beyond, supporting the needs of businesses which can demonstrate social, economic or environmental benefits to young people.

Work-We will continue the partnership with employers and regional newspapers to expand the Ladder campaign, creating more apprentices for our region and beyond. The Ladder aims to be "one-stop shop for all apprenticeships".

Play - We will continue to support the development of the St Matthews Quarter and the wider town centre a positive destination for its residents and visitors.

Learn -Through it's membership oversight of the Mercian Multi Academy Trust, the Vine Trust Group will continue to work to offer educational pathways for children in Walsall whatever their abilities or interests. The Trust's vision is to expand across the whole education piece. The Trust will continue through its nominated Governors, support the Ladder School, and the Walsall Studio School.

Worship - All the Vine's work is motivated by its Christian Faith, and our "Worship" theme will continue to support the hosting of activities Love Walsall and the housing of Walsall Community Church.

Structure, governance and management

Vine Trust Walsall is the 'parent' or controlling member of a group of charitable companies trading overall as the Vine Trust Group. The Group board of Trustee Directors consists of directors of the subsidiary boards as well as independent Vine Trust Walsall members. Members are responsible individually and collectively for overseeing the conduct and affairs of the charity, and for supervising Group management, to whom the Board had delegated certain authority for the day-to-day conduct of the charity.

They are also responsible for:

Strategic Planning Process
Operating Planning
Monitoring Senior Management
Monitoring the Effectiveness of the Board and its Committees
Setting and Monitoring the Effectiveness of Corporate Policies
Managing Risk
The Integrity of Corporate Internal Control and Management
Overseeing Information Systems
Overseeing Communications Policy

Page 7

			2020		2019
	Note	Unrestricted	Restricted	Total Funds	TotalFunds
		Funds	Funds
Income and endowments from:		£	£	£	£
Government grants:JRSScheme		38,701		38,701
WMBC Covid support Donations and legacies 2 Charitable activities 3 Othertrading activities 4 Other 5		25,000 93,840 56,610 70,670 300,015		25,000 93,840 56,610 70,670 300,015	85,039 106,662 266,477 310,188
Total income and endowments		584,836		584,836	768,366
Expenditure on:
Charitable activities	7	280,346		280,346	563,186
Total expenditure		280,346		280,346	563,186
Netlosseson investments	16		(340,000)	(340,000)	(265,000)
Netincome/(expenditure)		304,490	(340,000)	(35,510)	(59,820)
Otherrecognised gains/(losses):
Lossesonrevaluationoffixed assets					(51,675)
Netmovementin funds		304,490	(340,000)	(35,510)	(111,495)
Reconciliationoffunds:
Total funds brought forward		24,295	23,654,000	23,678,295	23,789,790
Total funds carriedforward		328,785	23,314,000	23,642,785	23,678,295

	Note	2020	2019
FixedAssets		£	£
Tangible assets Investments	14 16	382,557 23,314,000	2,006,692 23,654,000
CurrentAssets		23,696,557	25,660,692
Debtors Cashatbank and in hand	17	62,565 542	15,757 800
Creditors		63,107	16,557
Amounts falling duewithinone year	18	(90,879)	(1,724,503)
Netcurrent liabilities		(27,772)	(1,707,946)
Totalassetslesscurrent liabilities Creditors		23,668,785	23,952,746
Amounts falling dueaftermore than one year	19	(26,000)	(274,451)
		23,642,785	23,678,295
CharityFunds
Unrestricted funds Restricted funds	20 20	328,785 23,314,000	24,295 23,654,000
		23,642,785	23,678,295

CharityBalanceSheet Year ended 31st August 2020
	Note	2020	2019
FixedAssets		£	£
Tangible assets	15	382,557	2,006,692
CurrentAssets
Debtors Cashatbank and in hand	17	89,914 505	12,885 641
Creditors		90,419	13,526
Amounts falling duewithinoneyear	18	(90,879)	(1,711,385)
Net current liabilities		(460)	(1,697,859)
Totalassetslesscurrent liabilities Creditors		382,097	308,833
Amounts falling dueaftermorethanone year	19	(26,000)	(229,451)
		356,097	79,382
CharityFunds
Unrestricted funds Restricted funds		356,097	79,382
		356,097	79,382

	Note	2020	2019
		£	£
Netcashflows from operating activities	22	(1,920,718)	(23,994)
Cashflows from investing activities
Purchaseoftangible fixed assets Disposaloftangible fixed assets	14 14	(2,457) 1,925,300	(737) 27,117
Cashflows from financing activities
Interest paid	13	(2,383)	(5,240)
lncrease/(decrease) in cash and cash
Equivalents intheyear		(258)	(2,854)
Cashandcashequivalentat1 September 2019		800	3,654
Cashand cash equivalentsat31 August 2020		542	800

Income from donations and legacies
	2020	2019
Donations	£	£
Unrestricted - General	93,840	27,766
Grant Income
Unrestricted - General
Unrestricted - LinkedIn		4,000
Unrestricted - Ladder		19,940
Restricted - BigFeed		15,000 18,333
Total
	93,840	85,039
£Nil (2019: £18,333)ofthe above income was attributabletorestricted funds.

	3. Income from charitable activities
		2020	2019
	Restaurant	£	£
	JlOArc Project	33,610	77,134
	Ladder School		16,656
	Walsall Studio School	23,000	2,532
	Other		6,586
			3,754
	Total
		56,610	106,662
	Alloftheabove income wasattributabletounrestricted funds.
4.	Income from trading activities
		2020	2019
	Events	£	£
	Propertycost recharges Support cost recharges Project management	33,259 29,976	1,749 244,175 4,992
	Other		6,852
		7,435	8,709
	Total
		70,670	266,477
	Allofthe above income was attributabletounrestricted funds.
5.	Other income
		2020	2019
	WaiverofSIBloan	£	£
	Profit on saleofGoldmine	300,015	310,188
	Total
		300,015	310,188
	Alloftheabove income was attributabletorestricted funds.

			Direct	Support	Total
			Costs	Costs
		Property Support Restaurant & catering Ladder	£ 32,279 72,036 92,640 11,921	£ 66,412 2,502 2,502 54	£ 98,691 74,538 95,142 11,975
		Total	208,876	71,470	280,346
	7.	Charitable activities cost
				2020	2019
		Purchases		£	£
		Wages&salaries Staff training		15,449 165,484	27,284 273,102
		Service charges Rent, rates&water Insurance		8,921 22,655	1,184 5,813 35,865
		Heat&light Repairs&maintenance Advertising&marketing Post,print&stationery Telephone Travel, subs&entertaining General expenses Legal&professional fees Loan interest&charges Depreciation Governance		6,918 18,021 4,451 3,775 7,443 7,198 2,386 2,804 3,592 2,383 1,307	12,488 75,024 20,460 1,354 7,379 8,806 2,583 9,417 5,113 5,240 51,420
				7,559	20,654
		Total
				280,346	563,186
8.		Governance costs
				2020	2019
		Professional fees Independent ExaminationFees Miscellaneous		£ 65 3,500	£ 1,898 8,250
				3,994	10,506
		Total
				7,559	20,654

Netincome for year Net incomeisstatedaftercharging:
	2020	2019
Depreciationoftangible assets Impairmentoftangible fixedassets	£ 1,307	£ 51,420
Lossonfair value movementofinvestments Profitonsaleoftangible assets	340,000 300,015	51,675 265,000

Staff costs and employee benefits	Staff costs and employee benefits	Staff costs and employee benefits	Staff costs and employee benefits	Staff costs and employee benefits
The average numberofemployees and fulltimeequivalent(FTE)duringtheyear wasasfollows: 2020 2020 2019 2019
Charitable activities	Number 11	FTE 9	Number 15	FTE 12
Thetotalstaff costs and employee benefits wereasfollows:
			2020	2019
Wages andsalaries			£	£
Social security costs Pension costs			148,482 8,490	239,283 18,488
Redundancy			4,064 4,448	4,641 10,690
Total
			165,484	273,102
Thenumberofemployees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
£70,001 - £80,000

	2020	2019
Bank loans and overdrafts Otherloans	£ 2,383	£ 3,572
		1,668
Total
	2,383	5,240

Tangible Fixed Assets - Group
	Land &	Plant&	Total
	Buildings	Machinery
Cost	£	£	£
At1stSeptember 2019 Additions	2,434,400	181,087	2,615,487
Disposals	(1,840,923)	2,457	2,457 (1,840,923)
At31stAugust 2020	593,477	183,544	777,021
Depreciation
At1stSeptember 2019 Chargeforyear Depreciationondisposal	429,115 (215,638)	179,680 1,307	608,795 1,307 (215,638)
At315tAugust 2020	213,477	180,987	394,464
NetBook Values
At31stAugust 2020	380,000	2,557	382,557
At31stAugust 2019	2,005,285	1,407	2,006,692
Tangible Fixed Assets - Charity
	Land&	Plant&	Total
	Buildings	Machinery
Cost	£	£	£
Atl51September2019 Additions	2,434,400	181,087	2,615,487
Disposals	(1,840,923)	2,457	2,457 (1,840,923)
At31stAugust 2020	593,477	183,544	777,021

	Depreciation
	AtP1September 2019 Chargeforyear	429,115	179,680	608,795
	Depreciation on disposal	(215,638)	1,307	1,307 (215,638)
	At31stAugust 2020	213,477	180,987	394,464
	NetBook Values
	At3P1August 2020	380,000	2,557	382,557
	At31stAugust 2019	2,005,285	1,407	2,006,692
16.	Fixed Assets Investments
				Other
				Investments
	Valuation			£
	AtP1September 2019
				23,919,000
	At31stAugust 2020
				23,919,000
	Impairment
	At1stSeptember 2019
	Writtenoffin year			265,000
				340,000
	At31stAugust 2020
				605,000
	Carryingamount
	At 31stAugust 2020
				23,314,000
	At31stAugust 2019
				23,654,000

Debtors: Amounts falling duewithinon	eyear
	Group		Charity
	2020	2019	2020	2019
Trade debtors Amounts owed by group companies Prepayments and accrued income Otherdebtors	£ 5,609 16,105 40,851	£ 14,907 850	£ 5,609 27,349 16,105 40,851	£ 12,035 850
Total	62,565	15,757	89,914	12,885

Creditors: Amounts falling duewithinon	eyear
	Group		Charity
	2020	2019	2020	2019
Bank loansandoverdrafts Trade creditors Amounts owedtogroup companies Taxation and social security Accruals and deferred income Othercreditors	£ 35,127 10,725 3,836 4,374 36,817	£ 1,350,957 44,384 43,866 59,063 226,233	£ 35,127 10,725 3,836 4,374 36,817	£ 1,350,957 36,519 6,247 43,866 59,063 214,733
Total	90,879	1,724,503	90,879	1,711,385
Creditors: Amounts fallingdueaftermore	thanoneyear
	Group		Charity
	2020	2019	2020	2019
Bank loans Othercreditors	£ 26,000	£ 137,364 137,087	£ 26,000	£ 137,364 92,087
Total	26,000	274,451	26,000	229,451

Fund Reconciliation
Unrestricted Funds	Balanceat 1stSept 2019 £	Income £	Expenditure £	Gains / (Losses) £	Balance at 31stAugust 2020 £
General funds	24,295	584,836	(280,346)		328,785
	24,295	584,836	(280,346)		328,785
Restricted Funds
Mercian Trust	23,654,000			(340,000)	23,314,000
	23,654,000			(340,000)	23,314,000
	23,678,295	584,836	(280,346)	(340,000)	23,642,785

Analysisofnetassetsbetweenfunds
	Unrestricted	Restricted	Total
	Funds	Funds	Funds
Tangible fixed assets Current assets Current liabilities Creditors falling dueaftermorethan one year	£ 382,557 63,107 (90,879) (26,000)	£ 23,314,000	£ 23,696,557 63,107 (90,879) (26,000)
Total	328,785	23,314,000	23,642,785

ncatonofnetmovementin fundstonetcashflowfrom	operating activities
	2019	2018
Net expenditureforthe year Interest payable Depreciation andimpairmentoftangible fixed assets Losseson investments Profit on saleoffixed assets (Increase) decrease in debtors Increase (decrease) in creditors	£ (35,510) 2,383 1,307 340,000 (300,015) (46,808) (1,882,075)	£ (111,495) 5,240 103,095 265,000 (6,088) (279,746)
	(1,920,718)	(23,994)