REGISTERED COMPANY NUMBER: 05054946 (England and Wales) REGISTERED CHARITY NUMBER: 1106303
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
NEW WINE CYMRU LIMITED
Martin Waterworth Limited Chartered Accountants Bronwylfa Llangunnor Road Carmarthen Dyfed SA31 2PB
NEW WINE CYMRU LIMITED
Contents of the Financial Statements for the year ended 31 December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Statement of Financial Position | 7 | ||
| Notes to the Financial Statements | 8 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
NEW WINE CYMRU LIMITED
Report of the Trustees
for the year ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Charitable Objects and Public Benefit
The company's principal activity was as a charity to advance the Christian religion in Wales.
The Directors have given due regard to the guidance issued by the Charity Commission on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
The charity seeks to change lives for the good in spiritual, moral, ethical and practical ways to reflect and demonstrate the Christian Faith.
The directors are committed to enabling as many people as possible to benefit from the charity's activities. Some activities are offered or provided at no cost and where a charge is made this may be kept to a minimum or subsidised to enable as many people to attend as possible.
The Directors look to concentrate the charity's activities principally within Wales. Particular emphasis is placed on working with churches and church leaders.
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NEW WINE CYMRU LIMITED
Report of the Trustees
for the year ended 31 December 2020
ACHIEVEMENT AND PERFORMANCE REPORT ON ACTIVITIES
ANNUAL REPORT for NEW WINE CYMRU 2020/21
From March 2020 through to the present time of writing this Annual Report (June 2021), New Wine Cymru has been unable to hold any public meetings due to the Coronavirus restrictions still being in place nationally.
All of our activities have moved on-line and the following highlights describe the meetings we were able to offer across the networks during what has been a very different and difficult time for church leaders and their churches.
LEADERSHIP TEACHING SERIES
A very well received feature has been the mini teaching series offered to leaders and their teams across Wales. Members from the National Team and from the wider regional teams have provided some inspirational and excellent teaching on a variety of topics over a two or three week period.
Feedback has been excellent, and the sessions have been very well attended. The sessions were recorded and are available on the New Wine Cymru website as a resource for future applications.
St DAVID'S DAY PRAYER
Our annual prayer gathering was also held on-line this year and was attended by over 350 people. We were excited and encouraged that the First Minister of Wales was able to join us for a large portion of the meeting where we were able to pray for him and the Welsh government at the Senedd in both Welsh and English.
We prayed around the nation together focusing on the current needs and challenges brought about by the Coronavirus pandemic. Again, the feedback from those attending on-line was very encouraging.
WALES and KOREA PRAYER
Our planned prayer gathering at the Millennium Centre in Cardiff was cancelled due to the pandemic and the event was moved on-line. A pre-recorded film was shown alongside a live Zoom event which helped bring the event to life. Over 300 participants prayed and worshipped as we prayed for our respective nations together. The Directors at New Wine Cymru expressed huge thanks to the technical team who had enabled the event to take place.
REGIONAL GATHERING EVENTS
Throughout the year we have held a number of on-line national events which we have been able to open up to everyone. These events have been very popular and extremely well received.
Contributions from John Burke (USA), Pastor Agu of Jesus House, London and Nicky and Pippa Gumbel from Holy Trinity Brompton brought great encouragement to our networks. Further gatherings are planned for the autumn period.
ANNUAL CONFERENCE
The National Team had taken the decision back in March to put our Annual Conference on-line as it became clear that restrictions would still be in place by June 2021. A short two hour event with pre-recorded worship from the Cornerstone and New Wine Cymru worship teams along with inspirational messages from Julian and special guest John Burke (USA) was held on Zoom on 12th June.
Coffee Zooms before the event and lunch Zooms after the event rounded out the day and once again the feedback has been excellent.
AUTUMN / WINTER MISSION
The National Team have been really encouraged by John Burke's Imagine Heaven series and material and it is our intention to use the autumn and winter period from November 2021 to March 2022 to encourage and resource churches across Wales to utilize this material missionally in conjunction with any Christmas and/or Easter outreach events. To that end we have purchased 10,000 copies of the Imagine Heaven booklet to enable our churches to engage in this mission, utilizing the video and printed material both on and off line.
At the time of writing this report (June 2021) we are continuing to meet on line as we monitor government advice with regards to the Coronavirus restrictions.
FINANCIAL REVIEW
Reserves policy
The Directors have established a reserves policy that the charity should hold sufficient funds in reserve to meet its normal operating costs excluding events and one-off items of expenditure for a period of six months. Where reserves fall below this level the Board will seek ways to re-establish reserves over a prudent period of time to the level set in the policy.
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NEW WINE CYMRU LIMITED
Report of the Trustees
for the year ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
New Wine Cymru is a registered charity number 1106303 and a company limited by guarantee, governed by a memorandum and articles of association. The charitable company's registration number is 5054946. It was incorporated on 25 February 2004 and registered as a Charity on 13 October 2004.
Recruitment and appointment of new trustees
The Trustees are elected by the members. None of the Trustees had any interest in the Charity. The Trustees are conscious of the need for the trustee body to embrace a broad variety of skills and new trustees are considered in the light of their ability to contribute to the work of the charity.
Management and governance
The Charity is managed by the Board of Trustees shown below which decides upon strategic and policy matters and is supported by an Operations Manager and assistant.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05054946 (England and Wales)
Registered Charity number
1106303
Registered office
32 Mynydd Newydd Road Penlan Swansea SA5 5AE
Trustees
P Griffiths R I Jones G J Miles K M Tyler
Company Secretary
G J Miles
Independent Examiner
Martin Waterworth FCA Martin Waterworth Limited Chartered Accountants Bronwylfa Llangunnor Road Carmarthen Dyfed SA31 2PB
Bank
CAF Bank Limited
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NEW WINE CYMRU LIMITED
Report of the Trustees
for the year ended 31 December 2020
REVIEW OF BUSINESS
The results for the year and the financial position of the company are as shown in the annexed financial statements.
STATEMENT OF DIRECTORS' RESPONSIBILITIES
Company law requires directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing those financial statements, the directors are required to:
.Select suitable accounting policies and then apply them consistently;
.Make judgements that are reasonable and prudent; and
.Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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 2006. 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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 7 July 2021 and signed on its behalf by:
G J Miles - Trustee
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Independent Examiner's Report to the Trustees of New Wine Cymru Limited
Independent examiner's report to the trustees of New Wine Cymru Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
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 charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) 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:
-
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 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 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.
Martin Waterworth FCA Martin Waterworth Limited Chartered Accountants Bronwylfa Llangunnor Road Carmarthen Dyfed SA31 2PB
7 July 2021
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NEW WINE CYMRU LIMITED
Statement of Financial Activities
for the year ended 31 December 2020
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 45,735 | 58,907 | |
| Charitable activities | |||
| Conferences and other activities | 393 | 26,304 | |
| Investment income | 2 | 437 | 382 |
| Other income | 3 | 11,041 | - |
| Total | 57,606 | 85,593 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Conferences and other activities | 67,937 | 103,931 | |
| NET INCOME/(EXPENDITURE) | (10,331) | (18,338) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 89,942 | 108,280 | |
| TOTAL FUNDS CARRIED FORWARD | 79,611 | 89,942 |
The notes form part of these financial statements
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NEW WINE CYMRU LIMITED
Statement of Financial Position
31 December 2020
| 31.12.20 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 453 CURRENT ASSETS Debtors 8 6,524 Cash at bank 82,944 89,468 CREDITORS Amounts falling due within one year 9 (10,310) NET CURRENT ASSETS 79,158 TOTAL ASSETS LESS CURRENT LIABILITIES 79,611 NET ASSETS 79,611 FUNDS Unrestricted funds 79,611 TOTAL FUNDS 79,611 |
31.12.19 Total funds £ - 4,770 98,210 102,980 (13,038) 89,942 89,942 89,942 89,942 89,942 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 7 July 2021 and were signed on its behalf by:
G J Miles - Trustee
The notes form part of these financial statements
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NEW WINE CYMRU LIMITED
Notes to the Financial Statements
for the year ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Interest and income is included in incoming resources in the year in which the income arises, except when donors specify that donations given to the charity relate to future accounting periods, then that income is deferred until those periods. Should donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, then that income is deferred and not included in incoming resources until the pre-conditions for use have been met.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
There are no restricted funds held.
2. INVESTMENT INCOME
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 437 | 382 |
continued...
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NEW WINE CYMRU LIMITED
Notes to the Financial Statements - continued for the year ended 31 December 2020
3. OTHER INCOME
Other income of £11,041 is from the HMRC Job Retention Scheme used towards the cost of salaries included as expenditure incurred for charitable activities.
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 105 | 586 |
5. TRUSTEES' REMUNERATION AND BENEFITS
As in previous years the Trustees continued to give careful consideration to the work of the Charity, and in particular to the time commitment demanded of Julian Richards in his role as National Leader of New Wine Cymru.
As at least one half of his working time remains devoted to the work of the charity, payment at an annual rate of £20,004 continues to be made to the Cymru Leadership Trust, of which Julian Richards is an employee. This payment is in recognition of his time commitment and normal travelling and other expenses borne in his role as National Leader of New Wine Cymru..
In the year to 31 December 2019 Cymru Leadership Trust donated back £5,000 of the annual payment of £20,004; this was by way of donation to New Wine Cymru and was reflected under donations in general.
No Trustees received any remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.20 | 31.12.19 | |
|---|---|---|
| Operations manager | 1 | 1 |
| Assistant | 1 | 1 |
| 2 | 2 |
No employees received emoluments in excess of £60,000.
continued...
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NEW WINE CYMRU LIMITED
Notes to the Financial Statements - continued for the year ended 31 December 2020
| 7. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Equipment | |||
| £ | |||
| COST | |||
| At 1 January 2020 | 4,813 | ||
| Additions | 558 | ||
| At 31 December 2020 | 5,371 | ||
| DEPRECIATION | |||
| At 1 January 2020 | 4,813 | ||
| Charge for year | 105 | ||
| At 31 December 2020 | 4,918 | ||
| NET BOOK VALUE | |||
| At 31 December 2020 | 453 | ||
| At 31 December 2019 | - | ||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Other debtors | 6,524 | 4,770 | |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.20 | 31.12.19 | ||
| £ | £ | ||
| Trade creditors | 10,310 | 13,038 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
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NEW WINE CYMRU LIMITED
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the year ended 31 December 2020 | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 45,735 | 58,907 |
| Investment income | ||
| Deposit account interest | 437 | 382 |
| Charitable activities | ||
| Conferences & training events | 242 | 26,254 |
| Mission to Wales | 151 | 50 |
| 393 | 26,304 | |
| Other income | ||
| HMRC Job Retention Scheme | 11,041 | - |
| Total incoming resources | 57,606 | 85,593 |
| EXPENDITURE | ||
| Charitable activities | ||
| Salaries & pension | 34,697 | 36,654 |
| CLT secondment J Richards | 20,004 | 20,004 |
| Insurance & licences | 1,696 | 2,415 |
| General expenses | 3,878 | 10,621 |
| Conferences | 603 | 19,255 |
| Website & database | 1,675 | 2,127 |
| Networks/ event expenses | 4,929 | 11,747 |
| Mission to Wales | - | 172 |
| Depreciation of tangible fixed assets | 105 | 586 |
| 67,587 | 103,581 | |
| Support costs | ||
| Governance costs | ||
| Examination fee | 350 | 350 |
| Total resources expended | 67,937 | 103,931 |
| Net expenditure | (10,331) | (18,338) |
This page does not form part of the statutory financial statements
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