ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020
FARNHAM VINEYARD
(A Company Limited by Guarantee)
CHARITY REGISTRATION NUMBER 1101445
COMPANY REGISTRATION NUMBER 4943739
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO188NF
1
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Page 4 to 7 | Directors' Report |
| Pages 8 | Statement of Financial Activities |
| Page 9 | Balance Sheet |
| Pages 10 to 17 | Notes to the Financial Statements |
| Page 18 | Independent Examiner's Report |
2
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1101445 COMPANY REGISTRATION NUMBER 4943739 DATE OF INCORPORATION 23rd October 2003 START OF FINANCIAL YEAR 1st January 2020 END OF FINANCIAL YEAR 31st December 2020
DIRECTORS AT 31ST DECEMBER 2020 Mr Guy Pritchard Mr David Rodgett Mr Philip Rush Mrs Claire Davis Mr Andre Astovasadourian COMPANY SECRETARY Mrs Joanne Scougall
Memorandum and Articles of Association incorporated 27th October 2003, as amended by special resolution on the 22nd February 2006.
OBJECTS
a) To advance the Christian faith in accordance with the statement of faith appearing in the schedule hereto in Surrey and in such other parts of the United Kingdom or the World as the trustees may from time to time think fit and such other purposes which are exclusively charitable according to the law of England and Wales and are connected with charitable work of the charity. b) To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in particular in Surrey and elsewhere in the United Kingdom and the World. c) To advance Christian education and in particular in Surrey and elsewhere in the United Kingdom and the World.
CORRESPONDENT ADDRESS
BANKERS
INDEPENDENT EXAMINER
The Vineyard Centre Church House Union Road Farnham GU9 7PT Lloyds TSB Bank Plc 75 Castle Street Farnham Surrey GU9 7LT Kim Gomes Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO188NF
3
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2020
- The official name of the charity is Farnham Vineyard Trust Ltd. By a declaration of Trust dated 26[th ] September 1995 the charity was originally named Riverside Church Farnham Trust. By a supplementary declaration of Trust dated 13[th] February 1996, the name of the charity was changed to Farnham Vineyard Trust consequent upon the church’s affiliation to the Association of Vineyard Churches, now Vineyard Churches UK. On 27[th] October 2003 Farnham Vineyard was incorporated as a Charitable Company Limited by Guarantee.
This annual report represents the accounts and Directors’ Report for Farnham Vineyard Trust Ltd.
-
The registered number of the charity is 1101445. The Company Number is 4943739.
-
The principle address of the charity is Farnham Vineyard, The Vineyard Centre, Church House, Union Road, Farnham, Surrey, GU9 7PT.
-
The Directors and Trustees are as follows: Mr Guy Pritchard, Mr Philip Rush, Mr David Rodgett, Mr Andre Astovasadourian and Mrs Claire Davis. Mrs Jo Scougall is Company Secretary. The Trust’s bank is Lloyds TSB, 75 Castle Street, Farnham, Surrey, GU9 7LT.
-
The Trust’s Independent Examiner is Mrs K Gomes, Independent Examiners Ltd, Unit 2,The Broadfield Business Centre,Bosham,PO18 8NF
-
The Declaration of Trust confers upon the Directors, in addition to the statutory powers of investment, the power to purchase stocks, funds, shares, securities and other investments including property.
7. The objects of the trust are:
a. To advance the Christian religion, in particular in the county of Surrey and elsewhere in the United Kingdom or the world.
b. To relieve persons who are in conditions of need or hardship, or who are aged or sick, and to relieve the distress caused thereby, in particular in the said county and elsewhere in the United Kingdom and the world.
c. To advance Christian education, in particular in the said county and elsewhere in the United Kingdom and the world.
d. To undertake and fulfil other such charitable activities and purposes for the benefit of the community in the said county and elsewhere as the Directors may, from time to time, think fit.
-
Farnham Vineyard Trust Ltd. is the governing body of Farnham Vineyard Church, a Christian church in Farnham, Surrey and affiliated to the worldwide Association of Vineyard Churches and of Vineyard Churches UK, a Registered Charity. It is a member of Churches Together in Farnham and plays an active role in the town and surrounding area.
-
Apart from its pastoral and administrative staff Farnham Vineyard, as any church, relies heavily on the commitment and assistance of its members who are unpaid. The strategy adopted to meet the charity’s aims is encapsulated in its booklet ‘Farnham Vineyard – Our Vision and Values.’ It is kept under review by the charity’s staff and its contents regularly brought to the attention of the members of the church. The booklet is freely available.
4
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
The re-furbished Vineyard Centre, which was formally opened on 24[th] January 2010, is used for Sunday morning services. The Vineyard Centre also contains the church offices and is used throughout the week for the church’s community ministries.
The Trust employs a full-time senior pastor, a part-time Senior pastor, a youth pastor, a children’s pastor/church administrator.
The church places a strong emphasis on service in the community at both church and individual levels.
10 Review of the main activities of the charity during the year
The Trust continued to fulfil its objectives throughout the year. The lettered paragraphs that follow refer to the main activities that took place during the year and correspond to the four lettered objectives of the Trust as referred to above.
A . To advance the Christian religion in particular in the county of Surrey and elsewhere in the United Kingdom or the world.
. LIVESTREAM: to enable the church to continue throughout the pandemic the Sunday services are now livestreamed on YouTube, widening its reach considerably.
-
EMBASSY: Fortnightly social group for 10-18 year olds.
-
PLAY and PRAISE: a weekly parent and toddler group for those inside and outside the church.
· ECUMENICAL: The church continues to share in Churches Together in Farnham. The pastor meets in various church leaders’ groups.
· PASTORAL OVERSIGHT and support was given to other pastors and churches in the UK Vineyard movement.
B . To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in particular in the said county and elsewhere in the United Kingdom or the world.
· FARNHAM FOODBANK started in The Vineyard Centre on 5[th] November 2010. This is a cross-church ministry, initiated by Farnham Vineyard and in partnership with Farnham Vineyard Centre, from which food parcels are distributed to those experiencing unforeseen financial crisis. A further distribution centre has been opened at St Mark’s, Hale.
· STOREHOUSE MINISTRY: distribution of parcels of food donated by members of the church for those in need.
- FINANCIAL AND PRACTICAL SUPPORT was given to various church members in need.
5
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
C . To advance Christian education, in particular in the said county, and elsewhere in the United Kingdom or the world.
·SUNDAY SERVICES: these continued on Sunday mornings at The Vineyard Centre, Union Road, Farnham.
·WORKSHOPS within the church were held on specific topics about the Christian faith.
· INSTRUCTION on Christian living for adults and children, based on teaching from the scriptures, was consistently given throughout the year on Sundays, weekly small group meetings in homes and leadership and discipleship courses and training events at the Centre.
· LEADERSHIP DEVELOPMENT. Church leaders and members attended national and other Christian conferences and training events throughout the year – including the annual National Vineyard Leaders Conference, the annual Worship Leaders Conference, and the New Wine and Soul Survivor events.
D. To undertake and fulfil such other charitable activities and purposes for the benefit of the community in the said County and elsewhere as the Directors may from time to time think fit
· Future plans are:
-
The ongoing development of The Vineyard Centre as a ministry facility for serving the community and the church.
-
To extend the growing network of contacts with other agencies and churches within the social care community.
-
To develop new strategies for serving the community, effectively communicating the gospel and playing our part in the development of the Big Society in Farnham.
-
To facilitate further growth in Sunday attendance and church membership.
-
As at 31st December 2020 the charity held £28,790.46 in the Charities Aid Foundation Gold Account. Th purpose of this holding is:
-
To provide for emergencies.
-
Other uses as agreed by the Directors
-
The major risks, to which the charity is exposed, as identified by the Directors, have been reviewed and systems are in place to mitigate these risks.
13. Report on the Accounts
The church’s total income of £202,491 shows an overall increase of 2.24% on the 2019 figure of £198,042.
The charity holds a Mortgage with The Charity Bank Ltd, Tonbridge, Kent repayable over 25 years of £225,640.37 to finance the premises now featuring in the Balance Sheet as Fixed Asset £638,090.The Trust’s expenditure has remained consistent with 2019. The church gave away 10% of its income.
6
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS (Continued)
FOR THE YEAR ENDED 31ST DECEMBER 2020
Statement of Directors' Responsibilities:
Company law requires the directors to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the company and of the profit or loss of the company during that period. In preparing those financial statements the directors are required to:
a) select suitable accounting policies and then apply them consistently;
b) make judgements and estimates that are reasonable and prudent;
c) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; and
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing this report the directors have taken advantage of special exemption applicable to small companies conferred by part ii of schedule 8 of the Companies Act 1985.
I approve the attached statement of financial activities and balance sheet for the year ended 31st December 2020, and confirm that I have made available all information necessary for its preparation.
Approved by the Board of Directors
on…………………………………………………………………….
Signed on behalf of the Board of Directors by……………………………………………………………… Printed Name :
7
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020
(Incorporating Income and Expenditure Account)
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations & Legacies 3a Investment Income 3b Charitable Activities 3c TOTAL INCOMING RESOURCES RESOURCES EXPENDED Cost of Generating Funds Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 201,470 - 201,470 193,829 23 - 23 38 998 - 998 4,175 |
|---|---|
| 202,491 - 202,491 198,042 |
|
| 140,966 - 140,966 149,619 24,085 - 24,085 29,323 |
|
| 165,051 - 165,051 178,943 |
|
| 37,440 - 37,440 19,099 421,248 25,094 446,342 427,243 |
|
| 458,688 25,094 483,782 446,342 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 17 form part of these financial statements.
8
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
FOR THE YEAR ENDED 31ST DECEMBER 2020
| Notes Fixed Assets Tangible Assets 2 Current Assets Debtors & Prepayments 7 Cash at Bank and in Hand 6 Creditors:amounts falling due within 8 one year NET CURRENT ASSETS TOTAL ASSETSless current liabilities Creditors:amounts falling due in more 9 than one year NET ASSETS CAPITAL AND RESERVES General Funds Restricted Funds 5 |
Unrestricted Restricted 31-Dec-20 31-Dec-19 Funds Funds Total Total £ £ £ £ 644,474 - 644,474 641,206 6,262 - 6,262 6,262 28,948 25,094 54,042 35,155 |
|---|---|
| 35,210 25,094 60,304 41,417 28,956 - 28,956 28,570 650,728 25,094 675,822 654,053 |
|
| 650,728 25,094 675,822 654,053 198,133 - 198,133 207,711 |
|
| 452,595 25,094 477,689 446,342 |
|
| 458,688 - 458,688 421,248 - 25,094 25,094 25,094 |
|
| 458,688 25,094 483,782 446,342 |
Directors' Responsibilities:
The Directors are satisfied that for the year ended on 31st December 2020 the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities
Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 18.
The Directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006
applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The Directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair
view of the state of affairs of the company as at the end of the financial year and if its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
Approved by the Board of Directors on the ………………………………………
Signed on their behalf by Director ………………………………………………………………………………………………………………………
Printed Name:
9
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA during the same financial period.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
10
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
1. ACCOUNTING POLICIES (Continued)
Expenditure and Liabilities
Changes in Accounting policies and previous accounts
There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Pensions
The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
Operating Leases
Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.
Taxation
The charity is exempt from tax on its charitable activities.
Legal Status of the Charity
The charity is a company limited by guarantee and has no share capital. 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.
Fixed Assets
Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation
Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum are as follows:
Equipment 20%
No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.
| 2. TANGIBLE FIXED ASSETS | Land & | General | Total | |
|---|---|---|---|---|
| Buildings | Equipment | 2020 | ||
| £ | £ | £ | ||
| Cost | 01-Jan-20 | 638,090 | 51,272 | 689,362 |
| Additions | 4,864 | 4,864 | ||
| Cost at | 31-Dec-20 | 638,090 | 56,136 | 694,226 |
| Depreciation | 01-Jan-20 | - | 48,156 | 48,156 |
| Charge | 1,596 | 1,596 | ||
| Depreciation at | 31-Dec-20 | - | 49,752 | 49,752 |
| Net Book Value | 31-Dec-20 | 638,090 | 6,384 | 644,474 |
| Net Book Value | 31-Dec-19 | 638,090 | 3,116 | 641,206 |
The annual commitments under non-cancelling operating leases, capital commitments, contingent liabilities are as follows:
31st December 2020 : Mortgage see note 8 & 9 31st December 2019 : Mortgage see note 8 & 9
11
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
3. INCOMING RESOURCES
| Notes a) Donations & Legacies Standing Orders Gifts & Offerings Sunday Offerings Gift Aid Tax Recovered Area Leads Budget b) Investment Income Interest Received c) Charitable Activities Event Receipts TVC Bookings Books & Tape Sales |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 135,498 - 135,498 122,328 29,325 - 29,325 32,774 2,579 - 2,579 8,866 32,518 - 32,518 25,836 1,550 1,550 4,025 |
|---|---|
| 201,470 - 201,470 193,829 |
|
| 23 - 23 38 |
|
| 23 - 23 38 |
|
| - - - 998 - 998 4,175 - - - - |
|
| 998 - 998 4,175 |
12
(A COMPANY LIMITED BY GUARANTEE)
FARNHAM VINEYARD
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
4. RESOURCES EXPENDED
| Notes a) Charitable Activities Cleaning Costs Conferences & Training Consumables Depreciation Expenses Equipment Costs Events & Activities Gifts & Offerings Housing Allowance/Leaseback Scheme Ministry Costs Office Supplies Outreach Costs Rent & Rates Repairs & Maintenance Salaries & N.I 10 Sundry Expenses Telephone Costs Travel & Subsistence Utility Costs Visiting Speakers Youth Work Area Leaders Expenses b) Governance Costs Bank Charges & Mortgage Interest Independent Examiners Fee Insurance Costs Legal & Professional Fees Trustees Meeting Expenses |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2020 2019 £ £ £ £ 1,985 - 1,985 3,586 400 - 400 2,996 1,522 - 1,522 4,339 1,596 - 1,596 - 6,390 - 6,390 1,808 1,090 - 1,090 1,972 17,489 - 17,489 18,518 25,536 - 25,536 24,996 236 - 236 1,091 594 - 594 807 1,947 - 1,947 3,094 324 - 324 2,578 6,400 - 6,400 5,528 60,695 - 60,695 55,986 80 - 80 94 4,722 - 4,722 3,589 1,207 - 1,207 1,376 6,572 - 6,572 9,598 - - - 350 2,181 - 2,181 6,704 - - - 611 |
|---|---|
| 140,966 - 140,966 149,619 |
|
| 15,860 - 15,860 16,467 1,440 - 1,440 2,115 3,338 - 3,338 3,870 3,267 - 3,267 5,965 180 - 180 906 |
|
| 24,085 - 24,085 29,323 |
13
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
5. RESTRICTED FUNDS
| Ditch the Debt Fund | Balance Balance 01-Jan-20 Income Expenditure Transfers 31-Dec-20 £ £ £ £ £ 25,094 - - - 25,094 |
|---|---|
| 25,094 - - - 25,094 |
The Ditch the Debt fund is for reducing the charity mortgage.
The restricted funds of the charity are wholly represented by cash reserves.
6. CASH AT BANK AND IN HAND
| Current Bank Account Reserve Gold Account Instant Access Account Petty Cash |
Unrestricted Restricted Total Total Fund Fund 31-Dec-20 31-Dec-19 £ £ £ £ 24,400 - 24,400 5,549 3,696 25,094 28,790 28,767 37 - 37 37 815 - 815 802 |
|---|---|
| 28,948 25,094 54,042 35,155 |
7. DEBTORS & PREPAYMENTS
| Sundry Debtors Gift Aid |
Unrestricted Restricted Total Total Fund Fund 31-Dec-20 31-Dec-19 £ £ £ £ 6,262 - 6,262 6,262 - - - - |
|---|---|
| 6,262 - 6,262 6,262 |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiners Fee Mortgage Repayments |
Unrestricted Restricted Total Total Fund Fund 31-Dec-20 31-Dec-19 £ £ £ £ 1,449 - 1,449 1,450 27,507 - 27,507 27,120 |
|---|---|
| 28,956 - 28,956 28,570 |
14
(A COMPANY LIMITED BY GUARANTEE)
FARNHAM VINEYARD
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
| Mortgage Debt maturity analysis |
Unrestricted Restricted Total Fund Fund 31-Dec-20 £ £ £ 198,133 - 198,133 |
Total 31-Dec-19 £ 207,711 |
|---|---|---|
| 198,133 - 198,133 |
207,711 | |
| 1 year 2-5 years 5+ years Total Outstanding |
27,507 110,028 88,106 |
|
| 225,640 |
The acquisition of Church House, Union Road, Farnham took place on the 12th October 2007 for £450,000. The Charity has a £400,000 repayment mortgage set up over 25 years and an interest rate of 6.5% with The Charity Bank, Tonbridge.
10. STAFF COSTS AND NUMBERS
| 2020 £ Gross Wages and Salaries 47,872 Employer's National Insurance Costs 9,119 Pension Contributions 3,704 60,695 Employees who were engaged in each of the following activities: 2020 TOTAL Activities in Furtherance of Charitable Objects. 4 |
2019 £ 43,394 9,932 2,659 |
|---|---|
| 55,986 | |
| 2019 TOTAL 4 |
The charity operates a PAYE scheme to pay all employed members of staff and no employees received annual emoluments in excess of £60,000 (2019:None).
15
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
11. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES
The Company is Limited by Guarantee and is a Charity registered with the Charity Commission number 1101445. The Charity does not have a Share Capital and has no income subject to Corporation Tax.
| Surplus / Deficit for the financial year Other Recognised Gains Balance Brought Forward Closing Funds as at 31st December 2020 |
2020 £ 37,440 - 37,440 446,342 483,782 |
2019 £ 19,099 - |
|---|---|---|
| 19,099 | ||
| 427,243 | ||
| 446,342 |
12. PAYMENTS TO DIRECTORS AND RELATED PARTIES
| Mr Guy Pritchard Fees (Salary) House Lease Back Scheme Travel, Subsistence & Conferences Costs |
2020 £ 18,159 25,536 180 43,875 |
2019 £ 17,451 24,996 906 |
|---|---|---|
| 43,353 |
No other payments were made to Directors or any persons connected with them during this financial period. No other material transaction took place between the charity and a Directors or any person connected with them.
16
FARNHAM VINEYARD
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020
13. RISK ASSESSMENT
The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
14. RESERVES POLICY
The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily.
15. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the Charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
17
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of Farnham Vineyard on the accounts for the year ended 31st December 2020 set out on pages 8 to 17.
Respective responsibilities of trustees and examiner
The Charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:-
a) examine the accounts under section 145 of the Act;
b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;
c) to state whether particular matters have come to my attention.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 (FRS102).
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.
Kim Gomes MAAT Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
Date: 27.10.21
18