||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|





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## **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 



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||||2020||2019|
|---|---|---|---|---|---|
||Note|Unrestricted|Restricted|Total Funds|TotalFunds|
|||Funds|Funds|||
|**Income and endowments from:**||£|£|£|£|
|Government grants:JRSScheme||38,701||38,701||
|WMBC Covid support<br>Donations and legacies<br>2<br>Charitable activities<br>3<br>Othertrading activities<br>4<br>Other<br>5||25,000<br>93,840<br>56,610<br>70,670<br>300,015||25,000<br>93,840<br>56,610<br>70,670<br>300,015|85,039<br>106,662<br>266,477<br>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<br>Investments|14<br>16|382,557<br>23,314,000|2,006,692<br>23,654,000|
|**CurrentAssets**||23,696,557|25,660,692|
|Debtors<br>Cashatbank and in hand|17|62,565<br>542|15,757<br>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**<br>**Creditors**||23,668,785|23,952,746|
|Amounts falling dueaftermore than one<br>year|19|(26,000)|(274,451)|
|||23,642,785|23,678,295|
|**CharityFunds**||||
|Unrestricted funds<br>Restricted funds|20<br>20|328,785<br>23,314,000|24,295<br>23,654,000|
|||23,642,785|23,678,295|





## 

## 

|**CharityBalanceSheet**<br>**Year ended 31st August 2020**||||
|---|---|---|---|
||Note|2020|2019|
|**FixedAssets**||£|£|
|Tangible assets|15|382,557|2,006,692|
|**CurrentAssets**||||
|Debtors<br>Cashatbank and in hand|17|89,914<br>505|12,885<br>641|
|**Creditors**||90,419|13,526|
|Amounts falling duewithinoneyear|18|(90,879)|(1,711,385)|
|**Net current liabilities**||(460)|(1,697,859)|
|**Totalassetslesscurrent liabilities**<br>**Creditors**||382,097|308,833|
|Amounts falling dueaftermorethanone year|19|(26,000)|(229,451)|
|||356,097|79,382|
|**CharityFunds**||||
|Unrestricted funds<br>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<br>Disposaloftangible fixed assets|14<br>14|(2,457)<br>1,925,300|(737)<br>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|





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|**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<br>18,333|
|Total|||
||93,840|85,039|
|£Nil (2019: £18,333)ofthe above income was attributabletorestricted funds.|||





## 

||**3.**<br>**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<br>Support cost recharges<br>Project management|33,259<br>29,976|1,749<br>244,175<br>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<br>Support<br>Restaurant & catering<br>Ladder|£<br>32,279<br>72,036<br>92,640<br>11,921|£<br>66,412<br>2,502<br>2,502<br>54|£<br>98,691<br>74,538<br>95,142<br>11,975|
|||Total|208,876|71,470|280,346|
||**7.**|**Charitable activities cost**||||
|||||2020|2019|
|||Purchases||£|£|
|||Wages&salaries<br>Staff training||15,449<br>165,484|27,284<br>273,102|
|||Service charges<br>Rent, rates&water<br>Insurance||8,921<br>22,655|1,184<br>5,813<br>35,865|
|||Heat&light<br>Repairs&maintenance<br>Advertising&marketing<br>Post,print&stationery<br>Telephone<br>Travel, subs&entertaining<br>General expenses<br>Legal&professional fees<br>Loan interest&charges<br>Depreciation<br>Governance||6,918<br>18,021<br>4,451<br>3,775<br>7,443<br>7,198<br>2,386<br>2,804<br>3,592<br>2,383<br>1,307|12,488<br>75,024<br>20,460<br>1,354<br>7,379<br>8,806<br>2,583<br>9,417<br>5,113<br>5,240<br>51,420|
|||||7,559|20,654|
|||Total||||
|||||280,346|563,186|
|**8.**||**Governance costs**||||
|||||2020|2019|
|||Professional fees<br>Independent ExaminationFees<br>Miscellaneous||£<br>65<br>3,500|£<br>1,898<br>8,250|
|||||3,994|10,506|
|||Total||||
|||||7,559|20,654|





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



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





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||2020|2019|
|---|---|---|
|Bank loans and overdrafts<br>Otherloans|£<br>2,383|£<br>3,572|
|||1,668|
|Total|||
||2,383|5,240|



## 

|**Tangible Fixed Assets - Group**||||
|---|---|---|---|
||Land &|Plant&|Total|
||Buildings|Machinery||
|**Cost**|£|£|£|
|At1stSeptember 2019<br>Additions|2,434,400|181,087|2,615,487|
|Disposals|(1,840,923)|2,457|2,457<br>(1,840,923)|
|At31stAugust 2020|593,477|183,544|777,021|
|**Depreciation**||||
|At1stSeptember 2019<br>Chargeforyear<br>Depreciationondisposal|429,115<br>(215,638)|179,680<br>1,307|608,795<br>1,307<br>(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<br>Additions|2,434,400|181,087|2,615,487|
|Disposals|(1,840,923)|2,457|2,457<br>(1,840,923)|
|At31stAugust 2020|593,477|183,544|777,021|



## 



||**Depreciation**||||
|---|---|---|---|---|
||AtP1September 2019<br>Chargeforyear|429,115|179,680|<br>608,795|
||Depreciation on disposal|(215,638)|1,307|1,307<br>(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<br>Amounts owed by group companies<br>Prepayments and accrued income<br>Otherdebtors|£<br>5,609<br>16,105<br>40,851|£<br>14,907<br>850|£<br>5,609<br>27,349<br>16,105<br>40,851|£<br>12,035<br>850|
|Total|62,565|15,757|89,914|12,885|



## 

|**Creditors: Amounts falling duewithinon**|**eyear**||||
|---|---|---|---|---|
||Group||Charity||
||2020|2019|2020|2019|
|Bank loansandoverdrafts<br>Trade creditors<br>Amounts owedtogroup companies<br>Taxation and social security<br>Accruals and deferred income<br>Othercreditors|£<br>35,127<br>10,725<br>3,836<br>4,374<br>36,817|£<br>1,350,957<br>44,384<br>43,866<br>59,063<br>226,233|£<br>35,127<br>10,725<br>3,836<br>4,374<br>36,817|£<br>1,350,957<br>36,519<br>6,247<br>43,866<br>59,063<br>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<br>Othercreditors|£<br>26,000|£<br>137,364<br>137,087|£<br>26,000|£<br>137,364<br>92,087|
|Total|26,000|274,451|26,000|229,451|



## 



## 

|**Fund Reconciliation**||||||
|---|---|---|---|---|---|
|**Unrestricted Funds**|Balanceat<br>1stSept<br>2019<br>£|Income<br>£|Expenditure<br>£|Gains /<br>(Losses)<br>£|Balance at<br>31stAugust<br>2020<br>£|
|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<br>Current assets<br>Current liabilities<br>Creditors falling dueaftermorethan one year|£<br>382,557<br>63,107<br>(90,879)<br>(26,000)|£<br>23,314,000|£<br>23,696,557<br>63,107<br>(90,879)<br>(26,000)|
|Total|328,785|23,314,000|23,642,785|



## 

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





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