# **REGISTERED COMPANY NUMBER: 06669648 CHARITY NUMBER: 1125701**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDING 30 JUNE 2021**
## **FOR**
## **CARDIFF VINEYARD**
**(A COMPANY LIMITED BY GUARANTEE)**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Table of contents**
||Page|
|---|---|
|Company Information|3|
|Report of the Trustees|4 – 9|
|Summary of Financial Activities|10|
|Balance Sheet|11|
|Cash Flow Statement|12|
|Notes to the Financial Statements|13 – 19|
|Independent Examiner’s report|20|
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Company Information**
|**REGISTERED CHARITY NUMBER:**|1125701|
|---|---|
|**COMPANY NUMBER:**|06669648|
|**TRUSTEES:**|J.G. Rankine (appointed 11/08/2008)|
||B.D. Rankine (appointed 11/08/2008)|
||J.J.B. Hargreaves (appointed 18/11/2014)|
||R. Kissick (Chair, appointed 09/06/2016)|
||S.J. Boltman (appointed 15/05/2018)|
|**SECRETARY:**|B.D. Rankine (appointed 11/08/2008)|
|**REGISTERED OFFICE:**|Hendre|
||Llantrithyd Road|
||St Hilary|
||Cowbridge|
||Vale of Glamorgan CF71 7DP|
|**PRINCIPAL OFFICE:**|Cardiff Vineyard Centre|
||Eastmoors Road|
||Ocean Way|
||Cardiff CF24 5EE|
|**BANKERS:**|CAF Bank Ltd|
||25 Kings Hill Avenue Kings Hill|
||West Malling|
||Kent|
||ME19 4JQ|
|**INDEPENDENT EXAMINER:**|Stephen Perry LLB ACMA CGMA FCII|
||Chartered Management Accountant|
||38 York Road|
||York|
||YO24 4LZ|
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **REPORT OF THE TRUSTEES**
The Trustees of Cardiff Vineyard (“the Church”) present their report and unaudited financial statements for the year ended 30 June 2021.
The Trustees confirm that the Annual Report and financial statements of the Church comply with the current statutory requirements, the requirements of the Church’s governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015).
Since the Church qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required to be presented.
## **Structure, Governance and Management**
Cardiff Vineyard is a registered charity, charity number 1125701, incorporated on 11 August 2008, duly constituted by means of its Memorandum and Articles of Association and operating as a Church. The Church operates in the United Kingdom of Great Britain and Northern Ireland and supports members overseas on a worldwide basis.
Cardiff Vineyard is a company limited by guarantee as well as a registered charity, and under company law the Trustees of the Charity are the Directors of the charitable company.
The liability of each Trustee in the event of a winding up is limited to £10. The day to day running of the Church and operational decisions are delegated to the pastoral and administrative staff led by J.G. Rankine. J.G. Rankine is also a Trustee.
The Trustees meet at least three times a year and are responsible for making the major decisions relating to the running of the Church. These decisions include approval of the annual budget and any agreements material to the financial position of the Church.
## **Appointment of Trustees**
New trustees are appointed when appropriate. Suitable candidates, who are generally (but not exclusively) selected from within the membership of Cardiff Vineyard, are considered on the basis of their skills, experience and understanding of the aims of the Church. New trustees have the opportunity of reviewing appropriate documents including the accounts and meeting with pastoral and administrative staff as part of their induction process. Current trustees are listed on page 3.
## **Objectives & Activities**
The objectives of Cardiff Vineyard are:
- The advancement of the Christian faith including missionary activities in the United Kingdom and overseas and also including, but not limited to, the planting of new Churches and organisations of congregations.
- The relief of the poor and needy, and those who are aged or sick.
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Report of the Trustees for the period ended 30 June 21 (continued)**
- The advancement of education.
- Such other charitable objects and for the benefit of such other charitable bodies and institutions as the Trustees shall at their absolute discretion see fit.
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The significant activities undertaken to carry out our aims for the public benefit and our achievements measured against those aims are provided below.
## **Review of activities**
## **Achievements and performance**
## _**The advancement of the Christian faith including missionary activities in the United Kingdom and overseas and also including, but not limited to, the planting of new Churches and organisations of congregations**_
Over the last year Cardiff Vineyard has continued with its vision of being a multi-site church for Cardiff and beyond. We have three different locations across the City (Cardiff Central, Cardiff North and Cardiff West) for congregational gatherings and other activities.
Whilst the events of the last twelve months have meant we have not been able to gather in-person for prolonged periods of time, we continue to have in the region of 500 adults and 220 children who would see themselves as members of Cardiff Vineyard.
Our membership is increasingly diverse, with a wide range of ages and backgrounds represented and many people who come from a non-church upbringing.
Due to COVID-19 restrictions, all church activities were done through online content and digital platforms throughout the summer of 2020 and from December 2020 to the end of March 2021.
We enjoyed strong engagement through our YouTube and Zoom services during this time. Our weekly Youth attendance, for example, has doubled since the initiation of online youth small groups and we had hundreds of people watch our Carol Service which was posted on YouTube during the festive period.
We have also continued to run online Alpha courses, which gives people an opportunity to explore the Christian faith in a relaxed and accessible setting. When restrictions eased, we have been able to run in-person gatherings again with every effort made to make them as covid-secure as possible.
In April 2021, we were delighted to ‘plant’ a new church, with two members of our congregation beginning a brand new church in Milford Haven, Pembs as we commissioned them to go. The new church is called Pembs Vineyard and has already started to run gathering events and connect with many people interested in church in that part of West Wales.
Cardiff Vineyard continues to have good links with other charities across Cardiff and further afield in India, participating in joint ventures to further the gospel of Jesus Christ and to relieve the poor and needy.
Our Vineyard Kids ministry sponsors a child at the Love the One project in India. In addition to offering support overseas, we continue to financially support a charity based in Tremorfa called Message Wales who work with young people from chaotic backgrounds.
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## _**The relief of the poor and needy, and those who are aged or sick.**_
The church continues to run its ‘Restore’ ministries, with an array of different projects which are dedicated to providing practical support and relationship with those facing hardship in the city.
The volunteer ‘taskforce’, which was originally recruited within a few weeks of the pandemic arriving in the UK, has continued to operate and provided food parcels, clothing and other essential items to individuals and families, including the period before Christmas when many were facing a particularly challenging time.
In August 2020, we opened a new home offering supported housing to men who have been homeless or vulnerably housed. Having entered into a partnership agreement with the charity Green Pastures, who purchased the property, we have named it the Ty Adfer House which means a place of restoration and we hold a vision that it will be a home for men to come and be restored after the poverty and hardship they have faced.
Our Storehouse project has carried on albeit at reduced operational levels due to the Covid restrictions. Storehouse collects furniture goods for those in need around the city and we have managed to support dozens of individuals and families, a good number of whom are disabled or long term sick. This project is run by a team of volunteers from the church and they continue to collect and deliver items.
We continue to run our Blend project, which is a community space and support structure for refugees and asylum seekers in the city. Since it began, individuals representing 72 nationalities have come along, although the activity has had to remain online, with a lot of contact through phone calls over the last twelve months.
We also continue to run our Growbaby project, supporting vulnerable families and single parents in the early stages of parenting. The task of providing essential items has been maintained over the last twelve months and many families have been served.
The community ‘stay and play’ sessions have had to remain paused but we hope to commence them again before the end of 2021.
## _**The advancement of education.**_
Members of the church have continued to have a weekly menu of ways to connect with each other, to study the Bible together and learn more about their faith. Our small group system, which consists of courses, community groups and activity groups, operated predominantly online in the last year but still had high levels of engagements.
We were also able to use the switch to online to run more one-off educational events such as a Parenting seminar, a Marriage enrichment session and a Bible Overview event. As a church, we also provide the leadership for a church planting cohort of students, who attend online weekly seminars from around the UK.
More locally, we continued to run our ‘Leadership Year’, with weekly sessions for the group from September 2020 onward with seven individuals serving the church and specific ministries, as well as growing in their personal discipleship and leadership.
## _**Such other charitable objects and for the benefit of such other charitable bodies and institutions as the committee shall at their absolute discretion see fit**_
We are a church committed to working in partnership with other churches, charities and other organisations. In the last year we have continued our ongoing collaborative work with Cardiff City Council, Innovate Trust, The Family Intervention support team, Hafan Cymru, Oasis, Trinity Centre,
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
Keep Wales Tidy, Cardiff communities First, Rainbow of Hope, Cardiff Foodbank, ELAN midwives group and Welsh Refugee Council.
In addition, we have entered a partnership with the charity Green Pastures on the Ty Adfer house project, begun a regular stream of support to struggling families at Albany Road Primary School and offered a similar line of support to the Dusty Forge charitable project in Ely
## **Financial performance**
## **Overall**
The financial statements presented show a net surplus for the year of £22,669 (2020: £33,820).
Funds brought forward totalled £67,600 plus the surplus for the year result in total funds carried forward into the 2021/22 financial year of £90,269 of which £20,567 are restricted funds. Income continued to increase during the Covid period whilst expenditure was held broadly in line with the prior year as activities were more curtailed during the pandemic lockdown.
Membership and attendance have not been adversely affected by the pandemic lockdown and a move for most of the financial year to virtual meetings, with the core membership continuing to support the church as before.
The result of the increase in income has also been an increase in cash balances to £164,832 (2020; £79,608). Cash balances have also increased by the taking of a Bounce Back Loan under the Covid 19 financial assistance programme. The loan is held for use as working capital and repayments commence in May 2022.
## **Going concern**
After making appropriate enquiries, the Trustees a reasonable expectation that the Church has adequate resources to continue in operational existence for the foreseeable future.
The Trustees have also considered the risks to the going concern assertion associated with the COVID-19 pandemic and have modelled several potential scenarios where income falls for a temporary or sustained period. The church has however continued to maintain its membership and income during the pandemic period and is in a strong position to continue to grow in 2021/22.
Most of the Church’s income is derived from regular donations which take place through standing orders or Give As You Earn donations. Further income is received via contributions to the wages of Church staff by Vineyard Churches UK & Ireland (VCUKI) for roles performed nationally. Direct cash collections constitute a trivial proportion of total income.
Following government advice, Sunday services and midweek groups ceased to run on 15 March 2020, with the Church exploring how to effect ‘virtual’ church with some return to limited in person meetings taking place as the lockdown restrictions eased.
Whilst this cessation impacted direct cash collections income, it led to a saving on venue hire costs across all three Cardiff Vineyard sites. It is anticipated this is likely to mitigate any potential falls in income in the short-to-medium term. In the longer-term, sustained falls in income may be mitigated by the renegotiation of lease costs on the principal CVC office facility and, ultimately, by a reduction in staffing.
As such, the Trustees have adopted the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Reserves Policy**
The Trustees have examined the Church’s requirements for free reserves in the light of the predominant risks to the Church. The main risk is identified as a reduction in the Church membership giving rise to a reduction in income. The Trustees have reviewed the reserves policy and consider it is appropriate to retain minimum free reserves equivalent to the Church’s rental of its facility for one month and one months of staff salaries. This total is less than the amount held in reserves at 30[th] June 2021.
At 30[th] June 2021 reserves amounted to £90,269, of which £20,567 are restricted funds, see note 7: 2020: £67,600) of which £7,994 is restricted and this is expected to vary in future periods in line with Church expenditure and membership levels.
Total free reserves at 30[th] June 2021 are higher than the reserves policy. The Trustees will continue to build cash balances to support adherence to the policy and expected activity for the following year. Cash balances held at 30[th] June 2021 are £164,832 (2020: £79,608) and are expected to increase following future giving campaigns.
## **Risk Management**
The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:
- (a) an annual budget approved by the Trustees;
- (b) regular consideration by the Trustees of financial reports;
- (c) delegation of authority and segregation of duties;
- (d) identification and management of risks.
A strategic risk register is maintained, and the Trustees regularly review the main risks that the Church faces. They believe that maintaining the free reserves at the levels noted on the statement of financial activities, combined with appropriate reviews of the controls over key financial systems, provides sufficient resources in the event of unexpected adverse conditions. The Trustees are also of the opinion that adequate systems are in place to mitigate any significant matters arising from operational and business risks.
## **Summary**
The Trustees consider that they have complied with section 4 of the Charities Act 2006 and that the Church and its membership are meeting the charitable objectives that were determined when the Church was formed. As it grows, it is expected that the Church’s community will have further opportunities to increase its activity and influence.
## **Statement of Trustees’ responsibilities**
The Trustees (who are also directors of Cardiff Vineyard for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources for that period. In preparing these financial statements, the Trustees are required to:
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Statement as to disclosure of information to the Independent Examiner**
So far as each Trustee is aware, there is no relevant audit information of which the Church’s Independent Examiner is unaware.
Each Trustee has taken all the steps (such as making enquiries of other Trustees and the Independent Examiner and any other steps required by the Trustee’s duty to exercise due care, skill, and diligence) that he or she ought to have taken in his or her duty as a Trustee to make himself or herself aware of any relevant audit information and to establish that the Church’s Independent Examiner is aware of that information.
## **Approval of Accounts**
The accounts were approved on behalf of the Board of Trustees on
25[th] November 2021
R. Kissick Chair of Board of Trustees
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Statement of Financial Activities for the period ended 30 June 2021**
|Note|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**funds**
**Prior year**
**funds**|
|---|---|
||**£**
**£**
**£**|
|**Income from:**||
|Donations and legacies
3|391,214
391,214
387,230|
|||
|Charitable activities
4|3,078
30,131
33,208
30,282|
|||
|Other trading activities
5|143,765
143,765
144,671|
|||
|**Total**|**538,057**
**30,131**
**568,187**
**562,183**|
|**Expenditure on:**||
|Raising funds
7|5,455
5,455
5,284|
|||
|Charitable activities
7|522,505
17,558
540,063
523,080|
|||
|**Total**|**527,960**
**17,558**
**545,518**
**528,364**|
|||
|**Net (Expenditure) / Income**|10,096
12,573
22,669
33,820|
|||
|**Transfers between funds**|0
0
0
0|
|||
|**Net Movement in Funds**|**10,096**
**12,573**
**22,669**
**33,820**|
|||
|Total funds brought forward|59,606
7,994
67,600
33,780|
|||
|**Total funds carried forward**|**69,702**
**20,567**
**90,269**
**67,600**|
All the above results arise from continuing operations of the Church. There is no difference between the net outgoing resources and the historical cost equivalent.
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Balance Sheet as at 30 June 2021**
|Notes|**2020/21**
**2019/20**|
|---|---|
||**£**
**£**|
|**Fixed assets**||
|Tangible assets
8|3,254
4,170|
|**Current assets**||
|Debtors
10|8,972
5,929|
|Cash at bank and in hand|164,832
79,608|
|**Total current assets**|173,804
85,537|
|||
|**Current Liabilities**||
|Creditors: falling due within one year
11|86,788
22,107|
|**NET CURRENT ASSETS**||
||87,015
63,430|
|||
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|90,269
67,600|
|||
|**TOTAL NET ASSETS**|90,269
67,600|
|||
|**FUNDS**||
|Restricted funds|20,567
7,994|
|Unrestricted funds|69,702
59,606|
|**TOTAL FUNDS**|90,269
67,600|
For the year ended 30 June 2021, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the Church to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
The financial statements and associated notes (which form part of these accounts) on pages 9 to 18 were approved by the Trustees on 25[th] November 2021 and were signed on its behalf by:
R. Kissick Chair of Board of Trustees
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Cash flow statement for year ending 30 June 2021**
||**Notes**|**2020/21**|**2019/20**|
|---|---|---|---|
|||**£**|**£**|
|Cash (used) / generated in operating|**17**|85,225|
35,326|
|activities||||
|**Cash flows from investing activities**||||
|Purchase of tangible fixed assets|**8**|-||
|**(Decrease) / increase in cash in the**||85,224|
35,326|
|**year**||||
|Cash at the beginning of the year||79,608|
44,282|
|**Total cash at the end of the year**||**164,832**|
**79,608**|
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Notes to the accounts**
## **1. Accounting Policies**
The financial statements have been prepared in accordance with applicable accounting standards in the United Kingdom (FRS 102), the Statement of Recommended Practice (SORP) 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 2015), the Charities Act 1993 as amended by the Charities Act 2011 and the Companies Act 2006. The financial statements are prepared on a going concern basis and the accounting policies have been applied consistently, other than where new policies have been adopted.
## **(a) Accounting Convention**
The financial statements are prepared under the historic cost convention.
## **(b) Extent of Operations**
The financial statements have been prepared to include all funds directly under the responsibility of Cardiff Vineyard. Cardiff Vineyard operates directly within the UK and supports a number of initiatives internationally through financial disbursements.
## **(c) Accumulated Funds**
Accumulated funds at the start of the accounting period were £67,600 (2020: £33,780); the surplus at the end of the period forms the General Fund (Unrestricted) and Restricted Fund.
During the period, ten percent of the Church’s voluntary income was set aside for activities and causes that do not directly benefit Cardiff Vineyard. This is not regarded as a separate fund as such, but merely as an indicator as to how general charitable expenditure is to be disseminated and is part of the general unrestricted funds.
## **(d) Income**
Income is composed principally of donations by Church members and gift aid reclaimed on donations where eligible. The nature of the Church’s regular income means that income is brought into account only when the income is received. Gift aid reclaimed is recognised in the financial period to which it relates.
Income from any trading or other activities is recognised when earned. In the case of recharged events and staff salaries, both income and expenditure are shown gross.
Investment income is recognised on a receivable basis and arises from interest bearing deposit accounts.
## **(e) Tangible Fixed Assets**
Fixed Assets are recorded at cost of purchase less accumulated depreciation. The Church generally capitalises assets which meet or exceed a de minimis value of £1,000 and are likely to have a useful economic life of more than one year.
## **(f) Depreciation**
Depreciation of fixed assets is charged by annual amounts commencing in the year of acquisition at rates estimated to write off their cost, less any estimated residual value, over their expected useful lives. All assets are depreciated on a straight-line basis with assumed useful economic lives of between four and ten years, dependent on the individual asset. A full year’s depreciation is charged in the year of acquisition, and none in the year of disposal. Depreciation may be accelerated where it is known of in advance that an asset will be disposed of.
Motor vehicles
10 years
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
All other assets
4 years
## **(g) Taxation**
The Church is a registered charity, and as such, is entitled to certain exemptions on income and profits from investments and surplus on any activities carried on in furtherance of the Church’s primary objectives, based on the assumption that these surpluses are applied solely for charitable purposes.
The Church is not registered for VAT. Irrecoverable Value Added Tax is charged to the relevant expenditure heading to which the net cost is associated.
## **(h) Voluntary Help and Gifts in Kind**
The Church directly employs a number of staff but is also reliant on the support of a number of volunteers in various aspects of its activities. These volunteers make no charge for their time, and no financial value has been put on this. From time to time, Church members or external parties also make non-financial donations or gifts to the Church. Again, no financial value has been put on this.
## **(i) Resources expended**
Expenditure is recognised when a liability is incurred.
- Charitable activities include expenditure associated with achieving the charitable objectives and activities of Cardiff Vineyard.
- Costs of generating funds are those costs incurred purchasing items for re-sale.
- Governance costs include those incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory requirements.
- Support costs include central functions and have been allocated to activity cost categories.
## **(j) Debtors & Creditors**
The Church recognises all transactions on an accruals basis, which is to say that all sums due to or from the Church are included in the year which they occurred irrespective of whether they have been paid. If they have not been paid, they are included as a debtor or creditor.
Debtors are composed principally of the Gift Aid reclaim from HMRC, prepayments for annual licenses or services and sundry debtors where they arise. Tax recoverable arises from Gift Aid to be reclaimed on donations made to Cardiff Vineyard during the financial year. Prepayments arise on a number of items of annual expenditure, being principally lease costs, insurance, and licenses. Sundry debtors arise from time to time on items payable to Cardiff Vineyard such as refunds or accrued income.
Creditors are composed of transactions incurred in the current financial year which are yet to be paid and for which no invoice has been received, transactions incurred in the current financial year which are yet to be paid and for which an invoice has been received, and deferred income in respect of funding received in advance which applies to future accounting periods. Accruals arise principally for expenditure incurred by members of the Church during the financial year, not yet reimbursed by the Church at the balance sheet date, uninvoiced items, an operating lease accrual and an accrual for contributions to VCUKI. Other creditors are composed of deferred income balances and trade creditors.
## **(k) Provisions**
Provisions are recognised in line with FRS102 where a present legal or constructive obligation has arisen as a result of a past event, payment is probable and the amount can be estimated reliably.
## **(l) Leases**
The Church leases buildings for the provision of services in line with its charitable objectives and for
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
administrative purposes, which have been accounted for as operating leases. Lease payments are normally expensed as they arise. Lease incentives are amortised over the duration of the lease they are granted in respect of.
## **(m) Fund accounting**
Unrestricted funds are available to spend on activities that further any of Church’s charitable objectives. Restricted funds are donations which the donor has specified are to be solely used for purposes or projects being undertaken by the Church.
## **2. Operating Surplus**
The Operating Surplus is stated after charging:
|The Operating Surplus is stated after charging:|||
|---|---|---|
||**2020/21**|**2019/20**|
||**£**|**£**|
|Trustees’ remuneration (see Note 14)|36,649|35,680|
|Depreciation of tangible fixed assets|916|1,543|
|**Total**|**37,565**|**37,223**|
## **3. Donations and legacies**
The majority of the incoming resources are donations from Church members.
||**2020/21**|**2019/20**|
|---|---|---|
||**£**|**£**|
|Unrestricted Funds|391,214|387,230|
|Restricted Funds|||
|**Total**|**391,214**|**387,230**|
## **4. Income from charitable activities**
Significant restricted income was received in response to specific requests to provide financial support to the City required as a result of the Covid crisis, as well as financial support for the church plant in Pembrokeshire.
||**2020/21**|
**2019/20**|
|---|---|---|
||**£**|
**£**|
|Events & other|||
|Unrestricted|3,078|
13,494|
|Restricted|30,131|
16,788|
|**Total**|**33,208**|
**30,282**|
## **5. Other income**
Sundry income consists principally of contributions to the wages of Church staff by the wider Vineyard Churches UK & Ireland movement for roles performed nationally.
||**2020/21**|**2019/20**|
|---|---|---|
||**£**|**£**|
|Gift aid recovery|70,944|73,046|
|Sundry income|72,821|71,265|
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
|**Total**|**143,765**|
**144,311**|
|---|---|---|
|**6.Staff Costs**|||
||**2020/21**|**2019/20**|
||**£**|**£**|
|Salary costs|252,639|220,802|
|National Insurance|48,548|42,195|
|Pension contributions|13,308|13,013|
|**Total**|**314,495**|**276,010**|
Staff costs were allocated between charitable activities and raising funds at an estimated 99%-1% split. There were no employees with remuneration above £60,000.
An analysis of the average numbers of full-time equivalent permanent employees is as follows:
||**2020/21**|**2019/20**|
|---|---|---|
||**Number**|**Number**|
|Pastoral|9.6|7.8|
|Administrative|2.8|1.9|
|Total|**12.4**|**9.7**|
## **7. Resources expended & analysis of support costs**
The three areas of charitable activities which align to the Church’s charitable objectives are:
Category 1 Furtherance of the gospel of Jesus Christ and Advancing the Kingdom of God Category 2 Relieve the poor, the needy, the sick and the elderly Category 3 Build up the faith of Christian Believers, Training & Education
Of the total resources expended of £545,518 a total of £17,558 (2020 £9,357) was expended in respect of restricted funds projects as follows:
|||**Opening**|||**Closing**|
|---|---|---|---|---|---|
|**Fund**||**Balance**|
**In**|**Out**|
**Balance**|
|||**£**|**£**|**£**|
**£**|
|Growbaby||3,208|
301|2,254|
1,255|
|Ty Adfer Social Enterprise||1,000|
3,609|2,220|
2,389|
|Garden to Garden|||5,405|2,152|
3,253|
|Food for our city||3,787|
1,366|3,387|
1,766|
|Restore||-|
2,000||2,000|
|Pembs Vineyard|||7,916||7,916|
|Students|||1,000||1,000|
|Christmas|||8,534|7,545|
989|
|||**7,994**|
**30,131**|**17,558**|
**20,567**|
Overseas mission as well as donations to support the work being undertaken in projects such as Bridges to Communities, Love the One, Fusion Students Movement and the Cardiff Vineyard
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
Storehouse project and Foodbank, Hygiene Bank. Expenditure was realised in line with the terms of its restrictions.
## _Analysis of support costs_
Support costs are assumed as being non-wage and salary costs which are not directly related to one of the charitable aims of the Church. Pastoral staff wages and salaries have been excluded as pastoral staff, by the nature of their roles, work equally across all church objectives. Support costs have been equally allocated across the Church’s three principal charitable objectives for a similar rationale.
Expenditure from restricted & unrestricted funds is allocated to costs of fundraising (assumed as 1% of costs) and costs of charitable activities (assumed as 99% of costs). A minority of church staff time is spent fundraising as the majority of church income derives from repeating donations from members. No governance costs have arisen as trustees do not incur expenses in the course of church governance activities.
|**Support cost**|**Fundraising**|
**Category 1**|
**Category**
**2**|**Category**
**3**|**Total**
**2020**|**Total**
**2019**|
|---|---|---|---|---|---|---|
||**£**|
**£**|
**£**|**£**|**£**|**£**|
|Administrative costs|624|
20,599|
20,599|20,599|62,421|31,591|
|Information
technology|39|
1,290|
1,290|1,290|3,909|60,969|
|Legal & professional|
113|
3,724|
3,724|3,724|11,284|8,102|
|Training costs|7|
231|
231|231|701|1,906|
|Venue hire & office
costs|872|
28,787|
28,787|28,787|87,234|112,422|
|**Total**|**1,655**|
**54,631**|
**54,631**|
**54,631**|
**165,549**|
**214,990**|
All non-support costs are assumed to be directly attributable to charitable activity.
## **8. Tangible Fixed Assets**
||**Fixtures and**
**Fittings**
**Office, IT and**
**Media**
**Equipment**
**Other**
**Vehicle**
**Total**|
|---|---|
||**£**
**£**
**£**
**£**
**£**|
|At the beginning of the year|5,455
3,237
1,455
4,650
14,797|
|Additions|-|
|Disposals|-|
|At end of the year|5,455
3,237
1,455
4,650
14,797|
|||
|Depreciation||
|At the beginning of the year|5,455
3,151
1,091
929
10,626|
|Depreciation|86
363
467
916|
|Disposal|-|
|At end of the year|5,455
3,237
1,455
1,395
11,542|
|||
|Net Book Value||
|At the beginningof theyear|86
364
3,721
4,171|
|At the end of the year|(0)
0
3,254
3,254|
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **9. Taxation**
As Cardiff Vineyard has charitable status no provision for corporation tax is required.
## **10. Debtors**
||**2020/21**|**2019/20**|
|---|---|---|
||**£**|**£**|
|Gift Aid Recoverable|-|
5,929|
|Prepayments|739||
|Other debtors|8,233|
-|
|Total|**8,972**|
**5,929**|
## **11. Creditors**
Creditors are composed of a number of items detailed below. Bank Loans comprise a Bounce Back Loan arranged under the Covid 19 financial assistance programme. Repayments begin in May 2022.
||**Amounts falling due**
**within one year**
**Amounts falling due**
**after more than one**
**year**|
|---|---|
||**2020/21**
**2019/20**
**2020/21**
**2019/20**|
||**£**
**£**
**£**
**£**|
|Bank Loans|815
**0**
49,185
0|
|Trade creditors|4,178
2,415|
|Credit Card|4,936
4,936|
|Accruals|1,585
1,645|
|Taxation|3,439
3,176|
|Other creditors|22,651
9,936|
|**Total**|**37,604**
**22,108**
**49,185**
**-**|
## **12. Provisions for Liabilities and Charges**
No provisions have been made in 2020/21 (2019/20: £nil). Subsequent to the financial year end the charity has exercised the break costs on a property lease. This may result in a payment being made during the 2022 financial year for costs arising from the rectification of various dilapidations. At the date the Trustee Board approved this Annual Report and Accounts the amount of the obligation could not be estimated reliably and a provision has not therefore been made in the 2021 financial year.
## **13. Leases**
The church agreed a long-term lease on premises at Eastmoors Road, off Ocean Way in Cardiff from 1 March 2017 for a 10-year period with break clauses after 3 and 5 years. The first 6 months of the lease at Eastmoors Road has been granted on a rent-free basis. The incentive has been amortised over the full lease period.
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
The Church is committed to making the following future minimum lease payments for each of the following periods:
|periods:|||||
|---|---|---|---|---|
||||**2020/21**|**2019/20**|
||||**£**|**£**|
|Less than|1|year|44,781|44,781|
|Later than|1|year and not later than 5 years|179,124|179,124|
|Later than|5|years|29,584|74,635|
|**Total**|||**253,489**|**298,540**|
All lease commitments relate to the premises at Eastmoors Road and assume that break clauses are not exercised.
## **14. Remuneration and Transactions with Trustees**
None of the directors received any fees for their services as Trustees or Directors. J G Rankine is a Trustee and also engaged in Ministry for the Church, for which he received remuneration of £36,649 (2019/20: £35,680).
J G Rankine was reimbursed for expenses incurred whilst performing his duties for the Church totalling £nil (2019/20: £nil) during the period.
## **15. Related Party Transactions**
During the year, the trustees and persons deemed related parties made donations to Cardiff Vineyard totalling £38,170 (2019/20: £43,127) not including any related gift aid income.
## **16. Share Capital**
The Church is a charitable company limited by guarantee and has no share capital. The extent of the guarantee is £10 per trustee.
## **17. Reconciliation of net movement in funds to net cash flow from operating activities**
||**2020/21**|**2019/20**|
|---|---|---|
||**£**|**£**|
|Net movement in funds|22,669|
33,820|
|Depreciation charge for period|916|
1,543|
|(Increase) / decrease in debtors|(3,043)|14,959|
|(Decrease) / increase in creditors|64,682|
(14,996)|
|Total cash (used) / generated from operational|||
|activities|**85,225**|
**35,326**|
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**COMPANY NUMBER 06669648**
**CARDIFF VINEYARD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2021**
## **Independent examiner's report to the trustees of Cardiff Vineyard**
I report to the charity trustees on my examination of the accounts of the company for the period ended 30 June 2021, which are set out on pages 10 to 18.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
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 company’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.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Chartered Institute of Management Accountants, one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. 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
3. 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
4. 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 to enable a proper understanding of the accounts to be reached.
Stephen Perry LLB ACMA CGMA FCII Chartered Management Accountant 38 York Road Acomb York YO24 4LZ
25/11/2021
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