REGISTERED COMPANY NUMBER; 04370289 REGISTERED CHARITY NUMBER: 1093838 Report of the Trustees and Con501idated Financial Statements for the year ended 31st August 2024 for THE VINE TRUST WALSALL AND SUBSIDIARIES DJH Wa15all Ltd 3rd Floor International House 20 Hatherton Street Walsall West Midlands WS4 2LA
THE VINE TRUST WALSALL AND SUBSIDIARIES (REGISTERED NUMBER 04370289) Contents of the Consolidated Financial Statements for the year ended 31st August 2024 Page Charity Reference and Administrative Details Trustees Annual Report Independent Examiners Report Consolidated Statement of Financial Activities Consolidated Balance Sheet Charity Balance Sheet Statement of Cashflows 10 Notes to the Financial Statements li
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 4370289) Charity Reference and Administrative Detalls Year ended 31st August 2024 Incorporation 8" February 2002 Charity registration number 1093838 Company registration number 04370289 Director5 M.A. Harland P.B.J. Powell J.P. Sargent D. Lomax L.A. Johnson J.A. Blackwood-Reid Chief executive officer & Company secretary K.R. Davis DL Registered Office 33 Lower Hall Lane Walsall West Midlands WSI IRR Independent Examiner John Davis FCA DJH Walsall Ltd 3 Floor I nternational House 20 Hatherton Street Walsall WS4 2LA Page I
VINE TRUST WALSALL {REGISTERED NUMBER 04370289) Trustees, Annual Report Year ended 31st August 2024 The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their report and the financial statements of the charity for the year ended 31, August 2024. The trustees have adopted the provisions of the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities" {FRS 1021 in preparing the annual report and financial statements of the charity. Trustees of the charity The directors of the charitable company are its trustees for the purposes of charity13w. The trustees who have served during the year and since the year end were as follows: L.A. Johnson (Chairl M.A. Harland {Vice Chair) P.B.J. Powell J.P. Sargent D. Lomax J.A. Blackwood-Reid CEO & Company Secretary K.R. Davis DL The Vine Trust co-owns the Mercian Trust alongside the Queen Mary's Foundation, holding equal responsibility and strategic oversight. As a founding partner, the Vine Trust actively participates in governance, leadership decisions, and the strategic direction of Mercian, reinforcing our collective commitment to enhancing educational outcomes across all member academies. Trustee Report (by L.A. Johnson, Chair) On behalf of the Trustees, l am pleased to report on another successful year of impactful activity and strategic development. The Vine Trust continues to positively impact young people's lives through targeted initiatives in employment, education, community engagement, and enterprise, We congratulate our CEO. Kevin Davis DL, on his prestigious appointment as a Deputy Lieutenant for the West Midlands, recognising his outstanding contributions to our community and beyond. This honour further exemplifies the Trust's commitment to leadership and excellence. l also wish to thank my fellow Trustees for their continued commitment, support, and strategic oversight throughout the year. Looking ahead, we are excited by the strategic decisions made this year. notably our transition at Lower Hall Lane, which represents 3 Plvotal moment aligning our assets with broader strategic ambitions. Strategic Report (by K.R. Davis DL, Chief Executive) During 2023124, the Vine Trust strategically advanced our mission, "Preparing young people for life and godliness,, across key operational themes.. Empowerment, Education, Engagement, Employment, and Enterprise. These initiatives significantly enhanced youth opportunities, community involvement, and educational progress. Page 2
VINE TRUST WALSALL (REGISTERED NUMBER 04370289) Trustees, Annual Report Year ended 31st August 2024 Employment The Ladder Apprenticeship Foundation saw robust growth, expanding apprenticeship opportunitie5 and vocational training through key partnerships. Our inaugural Apprenticeship Awards in Wolverhampton celebrated local talent, and our Ladder Skills Academy at Millennium Point, Birmingham, further enhanced vocational training and employer collaboration. Enterprise Lower Hall Lane, the original site of the historic Vine Inn, significantly reshaped our enterprise focus. The closure of Vines due to COVID-19 and subsequent establishment of The Table CEC by Walsall Community Church rnarked a strategic shift. Recognising our core strengths lay beyond property ownership, we resolved to sell this facility to Walsall Community Church, aligning the building's future use closely with our charitable aims. The sale, antlClP3ted next year, symbolises our evolving strategic identity, with continued operational presence as a tenant. Education Through partnership and governance within Mercian Trust, Vine Trust contributed notably to educational outcomes. Positive OFSTED ratings at Queen Marls Grammar School were complemented by continued improvement work at Shire Oak Academy and Q3 Tipton. As founding sponsor and strategic partner for Ladder School and Walsall Studio School, we remain integral to their leadership, aligning closely with our transformative educational vision. We anticipate an OFSTED inspection at Walsall Studio School during the academic year 2024125. Engagement Our active participation within Walsall Town Board and successful implementation of the £IM Digital 5ki11s Hub demonstrates our dedication to inclusive growth and social mobility through the Economy of Together" strategy. These initiatives reinforce our community engagement and broaden our influence beyond direct education and employment activities. Looking forward, Vine Trust will strategically enhance its imp3Ct on youth employment, education, and community development, reinforcing our role as transformative community leaders. Objectives and Activities Vision "Our work with young people will be a catalyst for Christ-centred community transformation." Mi55iOTI 'Preparing young people for life and godliness. Charitable Objectives To advance the Christian religion among women and young people To advance education To relieve poverty Page 3
VINE TRUST WALSALL (REGISTERED NUMBER 04370289) Trustees, Annual Report Year ended 31st August 2024 To provide recreational and leisure facilities irrespective of ethnic origin, gender, or religious belief to improve life conditions Finantial Review Reserves Policy Trustees continue targeting approximately 13 weeks, expenditure in reserves to mitigate risk and capitalize on future opportunities. Shortfa515 are addressed through strategic asset management and operational efficiencies. Financial Overview Full financial details for the period are available in the attached audited financial statements. Plans for Future Periods The Trust remains committed to strategic leadership within Mercian Trust and the Ladder Apprenticeship Foundation, advancing its vision for an equitable, educated, enterprising, and environmentally conscious Black Country. Governance Vine Trust Group governance structure effectively manages strategic oversight, operation31 planning, risk management, and compliance. Trustees Responsibilities The Trustees (who are also directors of Vine Trust Walsall for the purposes of company law) are responsible for preparing the Trustees, Annual Roport and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financi31 year, which give 3 true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP 2019 IFRS 1021. make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presiim?_ that the charitable companywill continue in business. The trustees are responsible for keeping adequate accounting records, which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure thatthe financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of f raud and other irregularities. Page 4
VINE TRUST WALSALL (REGISTERED NUMBER 04370289) Trustees, Annual Report Year ended 31st August 2024 The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. On an annual basis the trustees actively review risk in terms of the following areas- governance and management, operational, finance, environmental and external risk, and legal regulation compliance This information is then used to develop a risk management Strategy for the organisation, including the identification of existing controls in operation and any new controls the trustees consider necessary. The current risk management strategy forms part of a planning process, against which the trustees review progress formally every six months within the context of a four-year strategic business plan. The trustees are satisfied that adequate systems and procedures are in operation to mitigate against the major risks faced by the charity should any of these risks materialise. In approving the Tru5tee5' Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors. On behalf of the board LJohnson Chair Date...-.. È./2.r... ........ Page 5
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 04370289) Independent Examinerf5 Report to the Members and Trustees Year ended 31st August 2024 I report to the charity trustees on my examination of the accounts of the company for the year ended 31 August 2024 which are set out on pages 7 to 20. st Responsibilities and basis of report A£ thtt charity trLlgtopg of tho rnmrb2ny12nd also its directors for the DufDoses of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 ACYI. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your companvs accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'}. In carrying out my examination I have followed the Dirertions given by the Charity Commission under section 145{5}Ib} of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records- or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairview, which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 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. John Davis FCA Ilndependent Examiner) For and on behalf of DJH Walsall Ltd 3, Floor I nternational House 20 H2therton Street Walsall WS12LA 2025 Page 6
THE VINE TRUST WALSALL AND SUBSIDIARIES (REGISTERED NUMBER 04370289) Consolidated Statement of Financial Activities (including Income and Expenditure Account) Year ended 31st August 2024 2024 2023 Note Unrestricted Funds Restricted Funds Total Funds Total Funds Income and endowments from: Government grants.. JRS Scheme WMBC Covid support Donations and legacies Charitable activitie5 3,880 3,880 4,410 8,200 56,155 2,350 Other trading activities Other 72,510 10,175 72,510 10,175 Total income and endowments 86,565 86,565 71,115 Expenditure on: Charitable activities 85,333 85,333 116,895 Total expenditure 85,333 85,333 116,895 Net loss on investments 15 1369,639) {369,6391 4,033,098 Net income / (expenditure) 1,232 {369,6391 {368,407) 3,987,318 Other recognised gains/{losses): Impairment losses {150,000} {150,000) Net movement in funds (148,7681 1369,6391 (518,407} 3,987,318 Reconciliation of funds: Total funds brought forward 274,781 50,654,015 50,928,796 46,941,478 Total funds carried forward 126,013 50,284,376 50,410,389 50,928,796 All income and expenditure derive from continuing artivities. The Statement of Financial Activities includes all gains and losses recognised in the year. Page 7
THE VINE TRUST WALSALL AND SUBSIDIARIES {REfjISTERED NUMBER 04370289) Consolidated Balance Sheet Year ended 31st August 2024 Note 2024 2023 Fixed Assets Tangible assets Investments 13 15 233,235 50,284,376 384,916 50,654,015 50,517,611 51,038,931 Current Assets Debtors Cash at bank and in hand 16 32,501 24,962 423 32,501 25,385 Creditors Amounts falling due within one year 17 {113,7231 (76,5201 Net current assets/(liabilities} {81,2221 151,1351 Total assets less current liabilities Creditors Amounts falling due after more than one year 50,436,389 50,987,796 18 126,000) (59,000) 50,410,389 50,928,796 Charity Funds Unrestricted funds 19 126,013 274,781 Restricted capital funds 19 50,284,376 50,654,015 50,410,389 50,928,796 For the financial year in question, the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared In accordance with the provisions applicable to companies subject to the small companies, regime. The financial statements were approved by the Board of Trustees on signed n its behalf by.. 10/0 2025 and were ohnson Trustee The notes form part of these financial statements Page 8
THE VINE TRUST WALSALL AND SUBSIDIARIES (REGISTERED NUMBER 04370289) Charity Balance Sheet Year ended 31st August 2024 Note 2024 2023 Fixed Assets Tangible assets 14 233,235 384,916 Current Assets Debtors Cash at bank and in hand 16 102,905 95,366 382 102,905 95,748 Creditors Amountsfalling due within one year 17 (110,1271 {73,8211 Net current assets/{liabilities) (7,2221 21,927 Total assets less current liabilities Creditors Amountsfalling due after more than one year 226,013 406,843 18 {26,000} (59,0001 200,013 347,843 Charity Funds Unrestricted funds Restricted funds 200,013 347,843 200,013 347,843 Forthe financial year in question, the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Comp3nies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The financial statement5 were approved by the Board of Trustees on signed on its behalf by.. 2025 and were Ljohnson Trustee The notos form part of thesÈ financi21 statements Page 9
THE VINE TRUST WALSALL AND SUBSIDIARIES (REGISTERED NUMBER 04370289) Consolidated Statement of Cash Flows Year ended 31st August 2024 Note 2024 2023 Net cash flows from operating activities 21 370,061 14,075,025) Cash flows from investing activities Purchase of tangible fixed assets Change in tangible fixed asset investments 14 15 (369,639) 4,033,098 {Decreasel in cash and cash Equivalents in the year 422 (41,927) Cash and cash equivalent at I September 2023 {58,480} 116,5531 Cash and cash equivalents at 31 August 2024 {58,0581 158,4801 Page 10
THE VINE TRUST WALSALL AND SUBSIDIARIES (REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 Accounting Policies General information and basis of preparation Vine Trust Walsall is a charitable company incorporated in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page l of these financial statements. The nature of the charit¢s operations and principal activities are to empower, educate, engage, and employ young people. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tho UK and Republic of Ireland IFRS 1021 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair v31ue. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these fin3nci31 statements are set out below. These policies have been consistently applied to all yea r5 presented unless Otherwise stated. Basis of consolidation The group financial ststements consolidate the accounts of the Company and its subsidiary undertakings. Intra-group transactions and profits are elim inated on consolidation. Funds Unrestricted funds are avai lable for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financi31 statements. Income All incoming resources are included in the SoFAwhen the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that theywill be fulfilled. No amount is included in the fina ncial statements for volunteer time in line with the 50RP (FR5 1021. Page 11
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 Expenditure AIS expenditure is accounted for on an accruals b3SIS and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable th2t the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds Expenditure on charitable activities includes provision of personal coaching services- and Other expenditure represents those items not falling into the categories above Srrecoverable VAT is charged as an expense against the activity for which expenditure arose. Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. The analysis of these costs is included in note 7. Tangible fixed a55ets Depreciation is provided at the following annual rates in order to write of each asset over its usefu5 economic life. Land and buildings not depreciated Motor vehicles, fixtures etc 20/0 to 250A on cosi Freehold land and buildings are stated at valuation in 2019 carried out by Cosnett Price Chartered Surveyors. The Trustees have reviewed the carrying value for.impairment. Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair v31ue with changes recognised in 'net gains / {10ssesl on investments, in the SOFA if their fair value can be measured reliably- Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Loans and borrowings Loans and borrowlng5 are Inltially iecv8iiistd dL Llie tra115action price including transaction Costs. Subsequently, they are measured at amortised cost using the effective interest rate metktod, le55 im pairment. If an arrangement constitutes a finance transaction it is measured at present value. Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an im pairment loss is recognised in profit or loss unless the asset IS Page 12
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 carried at a revalued amount where the impairment105s is a revaluation decrease. Leasing commitments Rentals paid under operating leases are charged to the statement of financial activity on a straight line basis over the period of the lease. Employee benefits Where employees have rendered service to the charity, short term benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Pension benefits The charity contributes to a defined contribution pension scheme for certain members of staff. Contributions are expensed as they become payable. Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Going concern As shown in the financial statements the Group had a net surplus on unrestricted funds of £1,232 for the year and at 31 August 2024 had unrestricted funds of £126,013. The Group have prepared income and cash flow projections for a period of 12 months. On this basis and on indications from supporters that they will continue to provide additional financial resources as required, the Trustees consider it appropriate to prepare the financial statements on the going concern basis. Income from donation5 and legacies 2024 2023 Donations Unrestricted- General 3,880 4,410 All of the above income was attributable to unrestricted funds. Income from charitable activities 2024 2023 Restaurant Ladder School 8,200 Total 8,200 All of the above income was attributable to unrestricted ftjnds. Page 13
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 4. Income from trading activities 2024 2023 Property Cost recharges Support cost recharges 72,510 26,072 30,083 Total 72,510 56,155 All of the above income was attributable to unrestricted funds. 5. Other income 2024 2023 Photocopier usage 10,175 2,350 £10,17512023'. £2,350) of the above income was attributable to restricted funds. Analysis of expenditure on charitable activities Direct Costs Support Costs Total Property Support Ladder 56,170 56,170 29,163 29,163 Total 56,170 29,163 85,333 Page 14
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 04370289} Notes to the Financial Statements Year ended 31st August 2024 Charitable activities cost 2024 Wages & salaries Training Rent, rates & water Insurance Heat & light Repairs & maintenance Advertising & marketing Post, print & stationery Telephone Travel. subs & entertaining General expenses Legal & professional fees Cleaning Depreciation Loss on impairment Governance 1,021 38,141 2,782 3,867 38,668 4,733 359 6,267 5,133 778 3,522 28,847 8,674 2,000 8,397 6,169 477 163 3,626 5,840 1,820 6,120 1,681 150,000 14,225 8,918 Total 235,333 116,895 Governance costs 2024 2023 Professional fees Independent Examination Fees Bank charges and interest 3,041 11,184 3,525 5,393 Total 14,225 8,918 Net income for year Net income is stated after charging= 2024 2023 Depreciation/im pairment of tangible assets Change in fair value movement of investments 151,681 369,639 1,820 {4,033,0981 10. Independent Examiners remuneration The independent examinerfs remuneration, including irrecoverable VAT, amounts to a fee of £3,041 (2023- £3,525) and for accounts and others services £Nil {2023= £Nill. Page 15
THE VINE TRUST WALSALL AND SUBSIDIARIES (REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 ii. Trustees, and key management personnel remuneration and expenses The trustees neither received nor waived any remuneration during the year (2023= £Nill. The trustees did not have any expenses reimbursed during the year {2023: £Nill. The total employee benefits {including employer pension contributions) received by key management personnel is £Nil {2023: £26,608). The Trust considers its key management personnel to be the Chief Executive Officer. 12. Staff costs and employee benefit5 The average number of employees arKI full time equivalent {FTE} during the year was as follows: 2024 2024 2023 2023 Number FTE Number Charitable activities The total staff costs and employee benefits were as follows: 2024 2023 Wage5 and salaries Social security costs Pension costs 1,200 37,042 11791 1,099 Total 1,021 38,141 No employees received total employee benefits (excluding employer pension costs) of more than £60,000. 13. Tangible Fixed Assets- Group Land & Buildings Plant & Machinery Total Cost At I" September 2023 Additions Disposals 593,477 180,636 774,113 At 31st August 2024 593,477 180,636 774,113 Depreciation At 1" September 2023 Charge foryear Impairment loss 213,477 175,720 1,681 389,197 1,681 150,000 150,000 Page 16
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 At 31" August 2024 363,477 177,401 540,878 Net Book Values At 31" August 2024 230,000 3,235 233,235 At 31" August 2023 380,000 4,916 384,916 14. Tangible Fixed Assets- Charity Land & Buildings Plant & Machinery Total Cost At I" September 2023 Additions 593,477 180,636 774,113 At 31" August 2024 593,477 180,636 774,113 Depreciation At 1" September 2023 Charge for year Impairment loss 213,477 175,720 1,681 389,197 1,681 150,000 150.000 At 31" August 2024 363,477 177,401 540,878 Net Book Values At 31" August 2024 230,000 3,235 233,235 At 31" August 2023 380,000 4,916 384,916 15. Fixed Assets Investments Other Invèstments Valuation At I, Septomber 2023 23.919.000 5t At 31 August 2024 23,919,000 Impairment At I" September 2023 Gain in year {26,735,0151 369,639 At 31" August 2024 126,365,376) Page 17
THE VINE TRUST WAISALL AND SUBSIDIARIES (REGISTERED NUMBER 043702891 Notes to the Financial Statements Year ended 31st August 2024 Carrying amount At 31" August 2024 50,284,376 At 31"August 2023 50,654,015 The investment represents the charity's interest in The Mercian Trust a Multi Academy Trust (MAT} formed by 3 group of Government funded schools working together under a common banner and an overarching structure of governance. It has, as its members, The Vine Trust Walsall, with effectively two voting member seats, and The Queen Mary's Foundation, with effectively three voting member seats. From the 'significant Influence, that its two Seats lone corporate membership and one individual appointee) Elves, the interest in The Mercian Trust is stated at 40/0 of its total restricted Funds at 31st August 2024 according to the Audited Accounts. Its registered off ice address is Mercian House, Sutton Road, Walsall, WSI 2PG. At the year end, the aggregate reserves of The Mercian Trust amounted to £128,296,076 12023: £128,903,037) of which £125,710,939 (2023: £126,635,037} were restricted, following a decrease in funds of £606,961 for the year {2023: increase of £9,416,142). The investment is restricted as representing government funding solely for the purpose of educating Students in the Mercian Trust Schools. 16. Debtors: Amounts falling due within one year Group Charity 2024 2023 2024 2023 Trade debtors Amounts owed by group companie5 Prepayments and accrued income Other debtors 31,571 22,193 31,571 70,404 930 22,193 70,404 2,769 930 2,769 Total 32,501 24,962 102,905 95,366 17. Creditors: Amounts falling due within one year Group Charity 2024 2023 2024 2023 Bank loans and overdrafts Trade creditor5 Taxation and social security Accruals and deferred income Other creditors 58,058 4,976 15 6,740 43,934 58,904 7,340 224 9,448 604 58,062 4,976 15 3,140 43,934 58,904 7,340 224 6,749 604 Total 113,723 76,520 110,127 73,821 Page 18
THE VINE TRUST WALSALL AND SUBSIDIARIES {REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 18. Creditors: Amounts falling due after more than one year Group Charity 2024 2023 2024 2023 Other creditors 26,000 59,000 26,000 59,000 19. Fund Reconciliation Balance at I'sept 2023 Income Expenditure Gains / {Lossesl Balance at 31" August 2024 Unrestricted Fund5 General funds 274,781 86,565 185,333) {150,000) 126,013 274,781 86,565 {85,333) {150,0001 126,013 Restricted Capital Funds Mercian Trust 50,654,015 1369,6391 50,284,376 50,654,015 1369,6391 50,284,376 50,928,796 86,565 185,3331 1369,639) 50,410,389 20. Analysis of net assets between funds Unrestricted Funds Restricted Funds Total Funds Tangible fixed assets Current assets Current liabilities Creditorsfalling due after more than one year 233,235 32,505 1113,7271 126,000} 50,284,376 50,517,611 32.505 {113,7271 (26,0001 Total 126,013 50,284,376 50,410,389 Page 19
THE VINE TRUST WALSALL AND SUBSIDIARIES (REGISTERED NUMBER 04370289) Notes to the Financial Statements Year ended 31st August 2024 21. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net income forthe year Interest payable Depreciation of tangible fixed asset5 Loss on investments Impairment loss Increase in debtors I ncrease in creditors 1148,768) {45,780} 1,681 369,639 150,000 {7,5391 5,048 1,820 (4.033.098) 1,117 916 370,061 (4,075,025) 22. Pensions and Similar Obligations The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £27 {2023'. £1,099). 23. Ultimate controlling party During the year, the Charity was under the control of the Trustees. 24. Transactions with Trustees At 31" August 2024 the charity owed £26,000 (2023.. £26,000) to House on the Corner, and £33,00012023: £33,000) to Bentley Beginnings, charities in which P B Powell is a trustee. The Company has taken advantage of the exemptions contained within Financial Reporting Standard No.8 not to disclose intra-group transactions on the basis that all subsidiaries are 100% owned a nd all transactions with other Group com panies are eliminated i n the consolidated financial statements. 24. Events after the reporting period On the 31" January 2025, the Company has disposed of its land and buildings for a consideration of £215,000. Page 20