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 2021
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 2021
| 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 | 12 |
| Detailed Statement of Financial Activities | 13 |
NEW WINE CYMRU LIMITED
Report of the Trustees
for the year ended 31 December 2021
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 2021. 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 2021
ACHIEVEMENT AND PERFORMANCE REPORT ON ACTIVITIES
ANNUAL REPORT for NEW WINE CYMRU 2021/22
From March 2021 through to the date of this Annual Report, New Wine Cymru has been able to hold only a number of limited public meetings in recent months due to some Coronavirus restrictions being lifted nationally. We have resumed our regional meetings across Wales and have seen reasonable attendance though some have yet to return to physical meetings.
The NWC Trustees have undertaken risk assessments for these meetings which have been communicated to all regional leaders in order to provide as high a level of safety as possible for those attending.
NATIONAL APOSTOLIC TEAM and CORE TEAM
We have continued to meet on-line at regular intervals for updates and hope to be able to resume in-person meetings from Spring 2022.
NWC DIRECTORS / TRUSTEES
The Board have appointed Andrew Lawrence as the new Finance Director who took over from Gerwyn Miles in March 2022. We were able to host Gerwyn and Ruth at a lunch event at the end of January to recognize and celebrate his many years of service to NWC.
ANNUAL CONFERENCE
We are planning to hold our annual conference in June this summer (2022) in the hope that we will no longer be under Coronavirus restrictions by then. The theme this year will be Together, and the speakers will be drawn from the National Apostolic Team. Our intention is to continue operating in a COVID aware manner, encouraging social distancing, face masks if preferred and lateral flow tests for conference delegates.
IMAGINE HEAVEN MISSION
The National Team have been really encouraged by John Burke's Imagine Heaven series and material and it is our intention to use these resources to encourage churches across Wales to utilize this material missionally in reaching out to their local communities. At the time of this report, 20 churches have already registered to use the materials in a mission context.
DEVELOPING NWC's APOSTOLIC REACH
The most exciting development during 2022 has been the releasing of Julian Richards from the senior leadership role at Cornerstone Church, Swansea in order to enable him to serve full time within NWC on a national basis. Sarah Richards has been appointed as senior leader at Cornerstone and Julian will be able to focus on developing the regional networks, supporting church leaders and spearheading mission across Wales. We held a special commissioning meeting at Cornerstone Church in March 2022 with Cornerstone leaders and NWC leaders to pray and set these changes into being.
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.
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.
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NEW WINE CYMRU LIMITED
Report of the Trustees
for the year ended 31 December 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
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.
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 (resigned 9.3.22) K M Tyler A M Lawrence (appointed 9.3.22)
Company Secretary
A M Lawrence
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 2021
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 11 May 2022 and signed on its behalf by:
A M Lawrence - 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 2021.
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
11 May 2022
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NEW WINE CYMRU LIMITED
Statement of Financial Activities
for the year ended 31 December 2021
| 31.12.21 | 31.12.20 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 43,555 | 25,000 | 68,555 | 45,735 | ||
| Charitable activities | ||||||
| Conferences and other activities | 8,019 | - | 8,019 | 393 | ||
| Investment income | 2 | 354 | - | 354 | 437 | |
| Other income | 3 | - | - | - | 11,041 | |
| Total | 51,928 | 25,000 | 76,928 | 57,606 | ||
| EXPENDITURE ON | ||||||
| Charitable activities | ||||||
| Conferences and other activities | 70,653 | 3,380 | 74,033 | 67,937 | ||
| NET INCOME/(EXPENDITURE) | (18,725) | 21,620 | 2,895 | (10,331) | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 79,611 | - | 79,611 | 89,942 | ||
| TOTAL FUNDS CARRIED FORWARD | 60,886 | 21,620 | 82,506 | 79,611 |
The notes form part of these financial statements
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NEW WINE CYMRU LIMITED
Statement of Financial Position 31 December 2021
| 31.12.21 | 31.12.20 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 7 | 314 | - | 314 | 453 | |
| CURRENT ASSETS | ||||||
| Debtors | 8 | 4,584 | - | 4,584 | 6,524 | |
| Cash at bank | 66,429 | 21,620 | 88,049 | 82,944 | ||
| 71,013 | 21,620 | 92,633 | 89,468 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | 9 | (10,441) | - | (10,441) | (10,310) | |
| NET CURRENT ASSETS | 60,572 | 21,620 | 82,192 | 79,158 | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 60,886 | 21,620 | 82,506 | 79,611 | ||
| NET ASSETS | 60,886 | 21,620 | 82,506 | 79,611 | ||
| FUNDS | 10 | |||||
| Unrestricted funds | 60,886 | 79,611 | ||||
| Restricted funds | 21,620 | - | ||||
| TOTAL FUNDS | 82,506 | 79,611 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 11 May 2022 and were signed on its behalf by:
A M Lawrence - 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 2021
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.
Restricted funds can only be used for specific purposes. These are shown in note 10 to these accounts.
2. INVESTMENT INCOME
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 354 | 437 |
continued...
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NEW WINE CYMRU LIMITED
Notes to the Financial Statements - continued for the year ended 31 December 2021
3. OTHER INCOME
Other income of £11,041 last year was 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):
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 139 | 105 |
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.
During 2021 at least one half of his working time was devoted to the work of the charity and payment of £20,004 was made to the Cymru Leadership Trust, of which Julian Richards is an employee. With effect from 1 January 2022 payment of £25,000 will be made to the Cymru Leadership Trust for the year. These payments are 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 previous year to 31 December 2020 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 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.21 | 31.12.20 | |
|---|---|---|
| Operations manager | 1 | 1 |
| Assistant | - | 1 |
| 1 | 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 2021
7. TANGIBLE FIXED ASSETS
| 7. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Equipment | ||||
| £ | ||||
| COST | ||||
| At 1 January 2021 and 31 December 2021 | 5,371 | |||
| DEPRECIATION | ||||
| At 1 January 2021 | 4,918 | |||
| Charge for year | 139 | |||
| At 31 December 2021 | 5,057 | |||
| NET BOOK VALUE | ||||
| At 31 December 2021 | 314 | |||
| At 31 December 2020 | 453 | |||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Other debtors | 4,584 | 6,524 | ||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Trade creditors | 10,441 | 10,310 | ||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.21 | in funds | 31.12.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 79,611 | (18,725) | 60,886 | |
| Restricted funds | ||||
| Filming and Media | - | 6,620 | 6,620 | |
| Marketing and Comms | - | 10,000 | 10,000 | |
| Apostolic Leadership Development | - | 5,000 | 5,000 | |
| - | 21,620 | 21,620 | ||
| TOTAL FUNDS | 79,611 | 2,895 | 82,506 |
continued...
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NEW WINE CYMRU LIMITED
Notes to the Financial Statements - continued for the year ended 31 December 2021
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement |
|---|---|---|
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 51,928 |
(70,653) | (18,725) |
| Restricted funds | ||
| Filming and Media 10,000 |
(3,380) | 6,620 |
| Marketing and Comms 10,000 |
- | 10,000 |
| Apostolic Leadership Development 5,000 |
- | 5,000 |
| 25,000 | (3,380) | 21,620 |
| TOTAL FUNDS 76,928 |
(74,033) | 2,895 |
| Comparatives for movement in funds | ||
| Net | ||
| movement | At | |
| At 1.1.20 | in funds | 31.12.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 89,942 |
(10,331) | 79,611 |
| TOTAL FUNDS 89,942 |
(10,331) | 79,611 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 57,606 |
(67,937) | (10,331) |
| TOTAL FUNDS 57,606 |
(67,937) | (10,331) |
continued...
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NEW WINE CYMRU LIMITED
Notes to the Financial Statements - continued for the year ended 31 December 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 12
NEW WINE CYMRU LIMITED
Detailed Statement of Financial Activities for the year ended 31 December 2021
| Detailed Statement of Financial Activities for the year ended 31 December 2021 |
||||
|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies | ||||
| Donations | 43,555 | 25,000 | 68,555 | 45,735 |
| Investment income | ||||
| Deposit account interest | 354 | - | 354 | 437 |
| Charitable activities | ||||
| Conferences & training events | 3,378 | - | 3,378 | 242 |
| Mission to Wales | 160 | - | 160 | 151 |
| Imagine Heaven Mission | 4,481 | - | 4,481 | - |
| 8,019 | - | 8,019 | 393 | |
| Other income | ||||
| HMRC Job Retention Scheme | - | - | - | 11,041 |
| Total incoming resources | 51,928 | 25,000 | 76,928 | 57,606 |
| EXPENDITURE | ||||
| Charitable activities | ||||
| Salaries & pension | 30,661 | - | 30,661 | 34,697 |
| CLT secondment J Richards | 20,004 | - | 20,004 | 20,004 |
| Insurance & licences | 1,321 | - | 1,321 | 1,696 |
| General expenses | 5,020 | - | 5,020 | 3,878 |
| Conferences | 887 | - | 887 | 603 |
| Website & database | 1,577 | - | 1,577 | 1,675 |
| Networks/ event expenses | 1,293 | - | 1,293 | 4,929 |
| Mission to Wales | 8,905 | - | 8,905 | - |
| Imagine Heaven Mission | 495 | - | 495 | - |
| Filming & Media costs | - | 3,380 | 3,380 | - |
| Depreciation | 140 | - | 140 | 105 |
| 70,303 | 3,380 | 73,683 | 67,587 | |
| Support costs | ||||
| Governance costs | ||||
| Examination fee | 350 | - | 350 | 350 |
| Total resources expended | 70,653 | 3,380 | 74,033 | 67,937 |
| Net (expenditure)/income | (18,725) | 21,620 | 2,895 | (10,331) |
This page does not form part of the statutory financial statements
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