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← Farnham Vineyard

2023-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FARNHAM VINEYARD

(COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NUMBER 1101445 COMPANY REGISTRATION NUMBER 04943739

Independent Examiners Ltd

Unit 2

The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

Page
Legal and Administrative Information 3
Directors' Report 4 to 7
Independent Examiner's Report on the Accounts 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11 to 18

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1101445

COMPANY REGISTRATION NUMBER 04943739

START OF FINANCIAL YEAR 01 January 2023 END OF FINANCIAL YEAR 31 December 2023

DIRECTORS AT 31 DECEMBER 2023 Mr Guy Pritchard Mr David Rodgett Mrs Claire Davis Mr Andre Astovasadourian COMPANY SECRETARY Mrs Joanne Scougall

The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.

GOVERNING INSTRUMENT

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.

CORRESPONDENCE ADDRESS The Vineyard Centre Church House Union Road Farnham GU9 7PT PRIMARY BANKERS Lloyds TSB Bank Plc 75 Castle Street Farnham Surrey GU9 7LT INDEPENDENT EXAMINER G W Schulz FCMA Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF

3

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023

  1. 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.

  1. The registered number of the charity is 1101445. The Company Number is 4943739.

  2. The principle address of the charity is Farnham Vineyard, The Vineyard Centre, Church House, Union Road, Farnham, Surrey, GU9 7PT.

  3. The Directors and Trustees are as follows: Mr Guy Pritchard, Mr David Rodgett, Mr Andre Astovasadourian, Mrs Claire Davis and Mrs Vicki Sellick. Mrs Jo Scougall is Company Secretary. The Trust’s bank is Lloyds TSB, 75 Castle Street, Farnham, Surrey, GU9 7LT.

  4. The Trust’s reporting accountant is Independent Examiners Ltd, Sovereign Centre, Poplars, Yapton Lane, Walberton, West Sussex, BN18 0AS.

  5. 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.

  6. The objects of the trust are:

  7. a. To advance the Christian religion, in particular in the county of Surrey and elsewhere in the United Kingdom or the world.

  8. 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.

  9. c. To advance Christian education, in particular in the said county and elsewhere in the United Kingdom and the world.

  10. 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.

  11. 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.

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 and church administrator.

The church places a strong emphasis on service in the community at both church and individual levels.

4

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2023

9. 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.

5

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023

To facilitate further growth in Sunday attendance and church membership.

  1. As at 31[st] December 2023 the charity held £45,725 in the Charity Bank 40 day access account and £10,174 in the Charity Bank 100 day access account The purpose of this holding is:

  2. To provide for emergencies.

  3. Other uses as agreed by the Directors

  4. 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.

  5. Report on the accounts

The church’s total income of £296,142 shows an overall increase of approx. 35.5% from the 2022 figure.

The charity holds a Mortgage with The Charity Bank Ltd, Tonbridge, Kent repayable over 25 years of £331,417 to finance the premises and a third ownership of the Senior Pastor’s property now featuring in the Balance Sheet as Fixed Asset £828,517..

The Trust’s expenditure has remained consistent with 2022. The church gave away 10% of its income.

6

FARNHAM VINEYARD (COMPANY LIMThED BY GUARAKfEE) DIREcfoRS' REPORT (continued) FOR THE YEAR ENDED 31sr DECEMBER 2023 Dire(Xor' Respor¥lbllltles statement Lff Directors. ResP￿sIb￿lt{eS. The Charitie5 Act 2022 and the c(xnpan1￿ Act 2006 requre the dIr￿t￿5 to fmancwl statemwts for each fiD￿claI year vknrh give a true and far vM¥ cf the state ( alFdirs ￿ the c1jnp￿Y as at the end of the thancL year and ￿ the surphjs dit ￿ the ¢harty. In prep￿ing thc6e fnancial statemthts the dir￿tr￿S are re3ulr&l to a) sdect suf(able accwnting p(ies and th￿ apply thon Cl￿56tentty. b) make judganwts and estim&e5 that are rea5￿able prudent; c) prvgare the f￿￿cIal statements ￿ the glkng cimcem basis unle55 it is napprcpriate to presume that wil C￿tInUe in business; d) state whether applKable accwnting stand¥ds and staternemts ( recornrnmdad practte have b￿n subject to any materitj dePWtur￿ dbsckjsed and explained ￿ the ffftanclal statements. The Dlrect(Ys are 0 resp(￿s￿l )le fty maintaining adequate ￿C(￿jntttig rtt￿d5 di5ctse with rea5￿able accur&y at any tine the fnancial pasitin c the ccmpany and Ylhrh are 5ufficvit to shcm and explairtr the company's tran$￿tk￿S and enable them to ensure that the financial statements compty Y￿h the Cc¥npanEs Art 2006 and comply with regulat￿5 male under the tharities Act 2022. They a￿ also responsible for safeguarding the assets of the company and hence taking reasonable steps fw the preventKm and detectkn of fraud and her Irregularities. The Dire£tors are also reSp￿S￿l le ts the rf the Dryt￿5. report, and the resP￿s￿lty ( the independent examiner in r￿at￿ to the D￿eCtOrS, rep(rt is ￿mit￿j to examinrig the reprrt and ensuring that on the fxe cl the report there are no Incon5i5tencies Y4ith the fyures disck)5ed in the ffflancial stat￿entS. These account5 have been prepared kn ￿0rd￿ce with the prO￿k￿$ aPpI￿able to c(*npanies subject to the small ccmpanies regim& l approve the attachexl Stat￿nent rf fin￿c￿lI xtlvtie5 and baknce sheet and cffjflmi that I have m￿je avamabk all informatkn nKe55ary Its preparatkn. Approved by the Dire£tcfs the............... SwJned cn their bthdf by DIrert￿....... Print Nam&..

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 9 to 18.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Farnham Vineyard you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2022 (‘the Act’).

I report in respect of my examination of Farnham Vineyard 's accounts carried out under section 145 of the 2022 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since Farnham Vineyard’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2022 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of Farnham Vineyard as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

….................. flows G W Schulz F CMA

Independent Examiners Ltd Unit 2

The Broadridge Business Centre Delling Lane Bosham PO18 8NF

15 September 2024

8

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST DECEMBER 2023

Incorporating Income & Expenditure Account
Notes
INCOMING RESOURCES
Donations & Legacies
3a
Investment Income
3b
Charitable Activities
3c
TOTAL INCOMING RESOURCES
Costs of Charitable Activities
4
NET INCOMING/(OUTGOING) RESOURCES
Total Funds Brought Forward
Prior year Adj
TOTAL FUNDS CARRIED FORWARD
TRANSFERS BETWEEN FUNDS
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
RESOURCES EXPENDED
TOTAL RESOURCES EXPENDED		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023
2022
£
£
£
£
291,200
568
291,768
213,340
1,009
-
1,009
117
3,952
-
3,952
5,375
296,160
568
296,728
218,833
275,593
-
275,593
219,904
275,593
-
275,593
219,904
20,567
568
21,135
(1,071)
-
-
-
-
20,567
568
21,135
(1,071)
484,284
28,535
512,819
513,890
7,048
-
7,048
-
511,899
29,103
541,002
512,819

All of the Charity's operations are classed as continuing operations.

The notes form part of these financial statements, found on pages 11 to 18

9

FARNHAM VINEYARD (COMPANY UMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 DECEMBER 2023

Unrestricted Restricted Total Total
Fund Fund 31-Dec-23 31-Dec-22
£ £ £ £
Fixed Assets Notes
Tangible Assets 2 828,517 828,517 821,681
Investment Assets 6
828 517
828,517
821,681
SS
—————————————eEeEEeEeeE
Current Assets
Debtors & Prepayments 8 15,591 15,591 12,355
Cash at bank and in hand 7 44,356 25,848 70,204 60,695
Total Current Assets 59,947 25,848 851795 73,050
Creditors:amounts falling due 9 45,148 (3,255} 41,893 33,108
within one year
NET CURRENT ASSETS 14,799 29,103 43,902 39,942
TOTAL ASSETSless current liabilities 843,316 29,103 872,419 861,623
Creditors:amounts falling due in 10 331,417 331,417 348,803
one year
NET ASSETS 511,899 29,103 541,002 512,819
FUNDS OF THE CHARITY
General Funds 511,899 511,899 484,284
Restricted funds 5 29,103 29,103 28,535
TOTAL FUNDS 511,899 29,103 541,002 512,819

Director's responsibilities:

For the year ended 31st December 2023.

The Directors are satisfied the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act. However, in accordance with section 145 of the Charities Act 2022, the accounts have been examined by an Independent Examiner whose report appears after the Notes to the Financial Statements.

The Director(s) 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 FRS102 SORP.

The directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with sections 386 of the Act 2006 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 of its profit and loss for the financial year in accordance with the requirement 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 Directors on the .....

Signed on their behalf by Director ......

Print Name: Gv'1 f[f2 \ ][,c. ][n ,4][.e"? ] Company Registration Number :

04943739

10

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

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 2022.

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.

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

Incoming Resources with Related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources 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 at the same time as the gift to which they relate.

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.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.

Volunteer Help

The value of any voluntary help received is not included in the accounts and is described in the Directors' annual report if applicable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Investment Income

This is included in the accounts when receivable.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

This page does not form part of the statutory financial statements

11

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023

1. ACCOUNTING POLICIES (continued)

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 advise 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.

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.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Pensions

Pension contributions are charged to the Statement of Financial Activities as they become payable.

Operating Leases

Rental charges payable under operating leases are charged on a straight line basis over the terms of 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

Fixed Assets 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 Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:

General Equipment

25%

There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.

This page does not form part of the statutory financial statements

12

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023

2. TANGIBLE FIXED ASSETS

Additions
At 31 December 2023
Net Book Value
At 31 December 2023
At 1 January 2023
At 31 December 2023
Accumulated Depreciation
At 1 January 2023
Charge for the Year
Cost
At 1 January 2023		 General
Equipment
Land &
Buildings
£
£
56,136
818,090
-
7,734
56,136
825,824
52,545
-
898
-
53,443
-
2,693
825,824
3,591
818,090		 2023
£
874,226
7,734
881,960
52,545
898
53,443
828,517
821,681

The Church agreed on the 17th October 2021 to invest the sum of £202,667 to aid in the purchase of a property for £608,000, which property is considered suitable and necessary for the proper fulfilment of the pastor, Mr Pritchard's role and has taken on a Mortgage of £180,000 because the Church believes such arrangement to be in the best interests of the Church as the most appropriate way of assisting with such living accommodation and not by way of business.

The annual commitments under non-cancelling operating leases and capital commitments are as follows:

31st December 2023 : Mortgage see note 9 & 10. 31st December 2022 : Mortgage see note 9 & 10.

This page does not form part of the statutory financial statements

13

FARNHAM VINEYARD

(COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023

3. INCOMING RESOURCES

3. INCOMING RESOURCES
Note
c) Incoming from Charitable Activities
Event Receipts
TVC Bookings
Other income
Sunday Offerings
b) Investment Income
Interest Received
Trustee Giving
a) Donations & Legacies
Area Leads Budget
Gift Aid Tax Recovered
Gifts & Offerings
Standing Orders		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023
2022
£
£
£
£
1,300
-
1,300
1,450
44,997
-
44,997
20,594
25,712
568
26,280
10,388
186,640
-
186,640
151,859
4,851
-
4,851
1,524
27,700
-
27,700
27,525
291,200
568
291,768
213,340
1,009
-
1,009
117
1,009
-
1,009
117
-
-
-
1,130
3,366
-
3,366
3,279
586
-
586
966
3,952
-
3,952
5,375

This page does not form part of the statutory financial statements

14

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023

4. RESOURCES EXPENDED

Note
Governance costs:-
Bank Charges & Mortgage Interest
Insurance Costs
Independent Examiner Fee
Legal & Professional fees
Trustees Meeting Expenses
Salaries & N.I
Sundry Expenses
Telephone Costs
Travel & Subsistence
Utility Costs
TVC Repairs
Youth Work
Equipment Costs
Events & Activities
Gifts & Offerings
Housing Allowance/Leaseback Scheme
Ministry Costs
Office Supplies
Outreach Costs
Rent & Rates
Repairs & Maintenance
Mission
Holiday Club
a) Charitable Activities
Area Leaders Expenses
Cleaning Costs
Conferences & Training
Consumables
Depreciation Expenses		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023
2022
£
£
£
£
797
-
797
1,745
2,985
-
2,985
628
3,141
-
3,141
3,144
4,870
-
4,870
2,355
898
-
898
1,197
2,145
-
2,145
2,021
3,668
-
3,668
2,965
24,653
-
24,653
20,587
-
-
-
1,566
1,865
-
1,865
421
1,363
-
1,363
951
576
-
576
155
298
-
298
483
4,166
-
4,166
4,483
142,009
-
142,009
122,337
3,790
-
3,790
148
6,674
-
6,674
6,201
2,115
-
2,115
1,577
13,834
-
13,834
2,574
4,542
-
4,542
-
2,059
-
2,059
5,778
3,184
-
3,184
-
2,438
-
2,438
-
32,018
-
32,018
19,773
3,902
-
3,902
3,570
180
-
180
1,620
5,787
-
5,787
12,647
1,638
-
1,638
977
275,593
-
275,593
219,904

This page does not form part of the statutory financial statements

15

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023

5. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

Balance Gains & Balance
01-Jan-23 Income Expenditure (Losses) Transfer 31-Dec-23
£ £ £ £ £
Ditch the Debt Fund 25,094 568 - - - 25,662
Pastors Housing 3,441 - - - - 3,441
28,535 568 - - - 29,103
PREVIOUS FINANCIAL YEAR
Balance Gains & Balance
01-Jan-22 Income Expenditure (Losses) Transfer 31-Dec-22
£ £ £ £ £
Ditch the Debt Fund 25,094 - - - - 25,094
Pastors Housing 11,213 - (7,771) - - 3,441
36,306 - (7,771) - - 28,535

The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.

6. INVESTMENTS

The Charity held no investment assets during this or the previous financial period.

7. CASH AT BANK AND IN HAND

Petty Cash
Sundry Debtors
Recoverable Gift Aid
Current Bank Account
Reserve Gold Account
Instant Access Account
40 day Access Account
100 day Access Account
8. DEBTORS AND PREPAYMENTS		 Unrestricted
Restricted
Total
Total
Funds
Funds
31-Dec-23
31-Dec-22
£
£
£
£
(6,739)
20,257
13,517
15,269
-
-
-
33,754
(4,838)
5,591
754
10,754
45,725
-
45,725
-
10,174
-
10,174
-
35
-
35
917
44,356
25,848
70,204
60,695
Unrestricted
Restricted
Total
Total
Funds
Funds
31-Dec-23
31-Dec-22
£
£
£
£
12,355
-
12,355
12,355
3,236
-
3,236
-
15,591
-
15,591
12,355

This page does not form part of the statutory financial statements

16

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023

9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR

Reserve Gold Account
Mortage Repayments
Independent Examiner's Fee		 Unrestricted
Restricted
Total
Total
Funds
Funds
31-Dec-23
31-Dec-22
£
£
£
£
3,255
(3,255)
-
-
40,093
-
40,093
31,488
1,800
-
1,800
1,620
45,148
(3,255)
41,893
33,108

10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

Mortgage Unrestricted
Restricted
Total
Total
Funds
Funds
31-Dec-23
31-Dec-22
£
£
£
£
331,417
-
331,417
348,803
331,417
-
331,417
348,803

The acquisition of Church House, Union Road, Farnham took place on the 12th October 2007 for £450,000. The Charity had a £400,000 repayment mortgage set up over 25 years and an interest rate of 6.5% with The Charity Bank, Tonbridge. On the 15th December 2021 the Church invested the sum of £202,667, being a third of the purchase price, to aid in the purchase of 26 Waynflete Lane, Farnham, which property is considered suitable and necessary for the proper fulfillment of the senior pastor - Mr Pritchard's role. This is for the best interests of the church as the most appropriate way of assisting with such living accommodation and not by way of business.

A refinance of the existing loan was made for £392,363 which included a lump sum repayment of £212,363 for closure and an additional loan taken for £180,000, over 25 years at an interest rate of 3.75% above BOE base rate, continuing with The Charity Bank, Tonbridge to fund the purchase of the residential property, Waynflete Lane mentioned above.

11. STAFF COSTS AND NUMBERS

TOTAL
2023
£
Gross Wages & Salaries
98,160
Employer's National Insurance Costs
34,213
Employer's Pension Contributions
9,635
142,009
Average number of employees who were engaged in each of the following activities:
TOTAL
2023
Charitable Activities
4		 TOTAL
2022
£
89,119
26,579
6,639
122,337
TOTAL
2022
4

The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2022 - None)

This page does not form part of the statutory financial statements

17

FARNHAM VINEYARD (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023

12. DIRECTORS AND OTHER RELATED PARTIES

TORS AND OTHER RELATED PARTIES
Fees (Salary)
House Lease Back Scheme
Travel Subsistence & Conference Costs		 2023
£
35,607
-
1,704
37,311		 2022
£
35,758
-
977
36,735

No material payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the charity and a director or any person connected with them. (2022 - None)

13. RECONCILATION OF MOVEMENT ON CAPITAL AND RESERVES

The Company is Limited by Guarantee (04943739) and it is a charity registered with the Charity Commission (1101445).

It does not have a Share capital and has no income subject to Corporation Tax.

Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 31-Dec-23		 2023
£
21,135
-
21,135
519,867
541,002		 2022
£
(1,071)
-
(1,071)
513,890
512,819

14. 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.

15. 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.

16. 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 Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

17. PRIOR YEAR ADJUSTMENT

The funds brought forward have been adjusted by £7,048 to reflect a true and fair view of the Charity's closing position as at 31st December 2023.

This page does not form part of the statutory financial statements

18