VENE EVANGELICAL CHURCH {SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 CHARITY REGISTRATION No: 1128970 COMPANY REGISTRATION No: 06821266
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) CONTENTS Poge 3 Legal & Administrative Informotion. Pages 4 to 5 Report of the Trustees. Page 6 Statement of Financial Activities. Page 7 Balance Sheet. Pages 8 to 13 Notes to the Financial Statements. Poge 14 Independent Examiners Report on the Accounts.
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED JI DECEMBER 2022 LEGAL AND ADMINISTRATIVE INFORMATION CHARITY NUMBER 1128970 COMPANY REGISTRATION NUMBER 6821266 START OF FINANCIAL YEAR 1st January 2022 END OF FINANCIAL YEAR 315t Decernber 2022 DIRECTORS THAT SERVED DURING THE YEAR TO 31ST DECEMBER 2022 C Stiven G Tainio R Hancock G Newholm lappolnted Ilth February 20221 A Gruneberg lappointed Ilth February 20221 N Reynolds (appointed iith February 20221 COMPANY SECRETARY C Stiven REGISTERED ADDRESS Vine Evangelical Church Hitchen Hatch Lane SÈvÈnoaks Kent TN13 3AT GOVERNING INsfRUMENT Memorandum and Articles of Association dated 17th February 2009. PRIMARY BANKERS CAF Bank INDEPENDENT EXAMINER IndÈpendÈnt Examiners Ltd Unit 2 The Broadbridge Business Cent Delling Lane Bosham West Sussex P018 8NF
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED JI DECEMBER 2022 The Directo have pleasure in subrnitting their report and financial staternents for the year ended 31st Decernber 2022. Objects of the ¢harity The charity seeks to demonstrate the Christian faith in action by being a church in the Sevenooks ooa. Governance The policy and operating decisions of the charity rest with the Directo who meet regularly to monitor the attivities of the charity. Review of Activities A church is not just a company or a buildingi but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for. who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area In which they lived. The leaders and members of Vlne Evangelical Church Isevenoaksl èfft committed to the r&storation of those New Testament principles. We afft not alone in this, but re one of rnany churches in the are4, the country and all over the wodd that are re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of Sevenoaks District corne into this experience of knowing Je5US as their Lord, Saviour and fnend. Although only incorporated as a company In 2009, Vine Evangelical Church Isevenoaksl I'VEC") has inherited and carries on the rich tradition of the church community that has been meeting in its current prernises for some 150 years. VEC regularly carries out and/or participates in activities with a view to achieving this vision, including weekly worship services with crèche and Sunday Club actlvities, youth club meetings and outings, men's and women's Bible studies, sm311 group meetings ènd men's and women's teaching. VEC'S activities during 2022 generally resumed their pre-covfD pattern. However, in response to the spiralling cost of fuel, the Tuesday morning mother and toddler group has been replaced by a 'warm space, drop-in centre. Physical meetings for worship, teaching, prayer and fellowship continue with somewhat reduced numbers. We continue to offer online participation via Zoom. and sermons are published to YouTube. During 2022 VEC continued to provide office space without charge for the use of Sevenoaks Area Youth Trust. and to make its premises available free of charge to the Sevenoèks Branch of Crosslight (formerly West Kent Debt Advice), and to thè Sevenoèks Child Contact Centre. The two 13tter organisètions ar& staffed by volunteÈrs from local churches including VEC, all of them provide 5ervice5 to the public free of chorye. In addition, VEC serves a5 the registered offitr for Sevenoak5 welcom Refugee5, and makes its pretnise5 available free of charge for their meetings. VEC continues to help support financially a small nurnber of Cornmended Workers Mernbe or former rnernbe of the church who are engaged In full time Christian rninistry in the UK and/or abroad, and who rely on donations fmm a wide range of supporters, both Individual and institutional, Including VEC. Finally, VEC Is pleased to be one of the local churches participating in the governance of Trlnity School, a Chrittian free school in Sevenoèks that opened in September 2013. Flnanelal Revlew Incoming resources for the year under revlew amounted to some £109,984, an increase over of some £13,000 over the pvIOuS year. However, this included a one-off Ia(Y of £25,000, so that the undedying income fell by some £12,000. Expenditure for the period, at £123,859 was marginally some £9,500 higher than in the previou5 year, reflerting c05t of living odju5tments to stsff cost5, higher utility bills property expenditure. Thi5 resulted in a deficit of £13,875, slightly lower than the previous year's deficit.
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED JI DECEMBER 2022 Directors. Re5ponsibilitie5 Charity law requires us as directors to prepare financial statements for each accounting year which give a true and fair view of the state of the charlty and of its income and expendlture for the year. Thls requlres US to Select suitable accounting policies and apply them consistently Make Judgements and estimates that are reasonable and prudent state whether the applicable accounting standards have been followed. subject to any material departures disclosed and explained In the accounts. Prepare the financial statements on a going concern basis unless It is Inappropriate to presume that the charity will continue in business. We are responsible for keeping adequate accounting records which disclose with reasonable accuracy ai any time the rinancial position of the tharity and enable us to ensuo that the finan¢ial statemÈnts comply with the CompaniÈs Att 2006. We a150 have o responsibility to safeguard the a55ets of the charity and to take reosonable 5tep5 to prevent fraud or any other irregularities. The trustees continue to believe that they have sufficient reserves to meet fixed expense5 for the 12 months from the signing of these accounts. Reserves Policy It is the policy of the charity that unrestritted funds should be maintained at a level equivalent to a minimurn of 51X months, expenditure, which would have arnounted to around £62,000 for the year under review. The directors consider that reserves at this level will ensure that, In the event of a significant drop in funding. they will be able to continue the charity's current activities while consideration is given to ways In which additional funds may be raised. Unrestricted reserves at the end of the year were £152,000 whlch would cover approximately 14.5 months, expenditure. The trustees do not Consider thai reserves at this level a excessive. They will enable the charity to cover fixed overheads should income from donations continue at o lower level over the coming month5, which the tru5tee5 consider to be 6 real PO55ibility as a result of continud increase5 in the cost of living following the pandemic and the Russian invasion of Ukraine. Approval Approved by the Directors and signed on their behalf on 12 June 2023 by.. eogtt- C D Stiven 1210612023
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED JI DECEMBER 2022 Incorporating Incorne and expenditure account Unrestricted Funds Designated Funds Restricted Fund5 TOTAL 2022 TOTAL 2021 Note5 INCOME AND ENDOWMENTS FROM.. Donations and Legacies 75,698 19,298 1.573 96,569 84.622 Charitable Activities 3b Trading Activitie5 12,848 12,848 12,471 Investments 3d 567 567 16 TOTAL INCOME 109 984 EXPENDThURE ON: Charitable Activities 102,551 19,735 1,573 123,859 114,628 TOTAL ExpeNDITURe 102 551 123 859 114 628 NET INCOME/{EXPENDITURE) {13,438} (437) (13,875) (17,519) Total Funds Brought Forward 80,656 85.298 165,954 183,473 Transfer between funds TOTAL FUNDS cAReD FORWARD 152 079 165 954 Movements on all reserves and all recognlsed gains and losses are shown above. All of the organlsation's opetttions are ¢lassed as continuing. The notes on pages 8 to 13 form part of these financial statements.
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2022 Unrestricted Funds Restricted Funds 31-Dec-22 Total 31-Dec-21 Total Note Fixed Assets Tangible a55ets Current Assets Debtors Cash at bank and In hand 7,441 145,628 7,441 145,628 10,927 155,981 Total Current Assets 153 069 153 069 166 908 Cre<litors: atnounts falling due within one vear 990 990 954 NET CURRENT ASSETS 152,079 152,079 165,954 TOTAL ASSETS less current liabilities 152,079 152,079 165,954 NET ASSETS 152.079 152.079 165.954 Funds of the Charity General Funds Designated Funds Restricted Funds 67,218 84,861 67,218 84,861 80.656 85,298 Total Funds 152 079 152 079 165 954 For the year ending 31st December 2022 the Company was entitled to exemptlon from audlt under section 477 of the Companies Act 2006 relating to small companies. The Mernbe have not required the company to obtain an audit in accordance with section 476 of the Companies Att 2006. The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to ¢ompanies subject to the small companies, rlme ond in accordonce with FRS102 SORP. Approved by the Direttors on 1210612023 and Signed on their behalf by C Stiven, Director
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JI DECEMBER 2022 I. ACCOUNTING POLICIES Basis of Preparation The financial statements have been prepared on the historical cost basis of accounting in accordance with the Charities Act 2011 and in accordance with applicable accounting standards. The financial statements have been prepared In accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice "Accounting and Reporting by Charities ISORP 20191. The accounts have been prepared on an ongoing concern basis. The charity meets the deflnition of a public benefit entity under FRSIO2. Advantage has been taken of Sectlon 396151 of The Companies Act 2006 to allow the format of the financial statements to be adapted to fftflÈct the special nature of the charity's 0ratIOn and in order to tomply with the requirements of the SORP. The cornpany has taken advantage of the exernption in Financial Reporting Stsndard No I from the requirement to produce a cash flow staternent. Change$ In A¢¢ountlng Pollcles and Prevlou$ A¢¢ount$ There has been no change to the accounting policies (variation rules and methods of accounting) since last year. Preparation of accounts on a going concern basis PrÈparation OF the èccounts is on è going concern basis. The Trustees are of the view that the level of reserves will 5UPPOrt the charity going forward. Recognition of Incorne These are included in the Statetnent of Financial Activitie5 ISOFAI when- the charity becorne5 entitled to the resources,. the tru5tee5 are virtuolly certain they will receive the resources,. and the monetary value can measured with sufficient rÈliability. Income wlth Related Expendlture Where income has a related expenditure las with fundraising or contract income) the income and related expenditure are reported gross in the SOFA. Grants and Dorbations Grants ènd Donations ao only included in the SOFA when the ¢harity has unconditional entitlement to the resourtss. Tax Reclalms on Donatlons and Glfts Incorne from tax reclaims are Included in the SOFA In the same financial period as the gift to which they relate. Contractual Income and Performance Related Grants This is only included in the SOFA once the related good5 or services have been delivered. 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 charlty are included in the SOFA as Incoming resources when recelvable. Donated Services and Facilities These are only Included in incoming resources Iwlth an equlvalent amount In resources expendedl where the beneflt to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the chority of the service or Facility received. Volunteer Help The value of any voluntary help received Is not Included In the accounts but Is descrlbed In the Trustees. annual report. Government Grants The charity did not receive any government grants during the financial year.
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED JI DECEMBER 2022 I. ACCOUNTING POLICIES (ntInued) Ex 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 exarnination of Statutory accounts, the costs of the Tru5tee5' meetings and cost of any legal advice to trustees on governance or constitutional rnatter5. Unrestrlcted Funds These fund5 can be used for the general objective5 Of the charity a5 Set out in the trustees report. The movetnent5 OF the unrestricted funds are given in the Statement of Financial Activities. Designated Funds Designated funds are funds that the Trustees have reserved for specific purposes. Although these are in principle unrestricted funds, these funds may only be expended on the specific purpose designated by the Trustees. Restricted Funds These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings made for speclfic purposes. Fixed Assets These are capitalised if they can be used for MO than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on retript. Depreciatlon is calculated at a rate to write off the cost of tangible fixed assets on a straight line basls over their estimated usÈful lives charged to the SOFA. The ratÈs applied per annum are as Follows.. Equipment Land & Bulldlng Between IS and 33 2. TANGIBLE FIXED ASSETS Church Motor Vehicles Equipment & Fittings TOTAL Title No.. 362530 Cost Additions Cost at 01-Jan-22 2,000 31,603 33,603 31-Dec-22 Depre¢iation Charge Depreciation at 01-Jan-22 2,000 31,603 33,603 31-Dec-22 Net Book Value Net Book Value 31-De¢-22 31-Dec-21 The Church property was transferred to the oWnehIp of Vine Evangelical Church Isevenoaksl in July 2012 by the previous owners of Vine Hall Trust at depreciated historic cost. The property was originally acquired In 1971 for £2,000, resulting in depreciatlon over the subsequent 49 years of £1,960 wlth the final charge being made in 2020. The building insurance value provlded by the Insurer at 31st January 2022 was £1,578,370 and at 31st January 2023 was £1,767,775.
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED JI DECEMBER 2022 Notes Unrestricted Funds Designated Funds Restricted Funds TOTAL 2022 TOTAL 2021 3. INCOME AND ENDOWMENTS FROM.. a) Donatlon$ and Lega¢le$ Gift Aid Donations Legacles Non Gift Aid Donations Tax Reclaimed 36,362 25,000 5,355 8,981 9,313 890 46,565 25,000 13,443 11,561 45,323 7,628 2.357 460 223 27,865 11.434 b) Charitable Artivities Other Charitable Attivitie5 c) Tradlng Actlvltles Premises Hire 12,848 12,848 12.471 d) Investments Bank Interest 567 567 16 567 567 16 4. EXPENDITURE ON: b) Charitable Activities Direct Charitable Costs Staff Costs Cornmended Worker5 VEC Fellowship Events (Note.. 2021.. refunds) Youth Ministry Professional Services Ministry Expenses Outrèach and Mission Grants Payable Support & Admlnistratlon Administrative Expenses 67,148 67,148 14,315 77 345 874 3,843 5,420 1,573 62,455 13,205 12161 428 830 3,284 9,862 1,844 14,315 77 345 874 3,843 5,420 1,573 3,714 7,644 1,324 3,714 7,644 1,324 3,765 5,392 1,644 Insurance Depreciation Property & Equipment Building Works Other Governance Cost5 16,121 471 16,121 471 11,176 990 990 954 102 551 123 859 114 628 io
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED JI DECEMBER 2022 5. ANALYSIS OF FUNDS- CURRENT PERIOD CURRENT PEREOD Balance 01-Jan-22 Balance 31-Dec-22 Incotne Expenditure Transfer5 UNRESTRICTED FUNDS 102 551 DESIGNATED FUNDS Emergency Maintenance Fund Other Mission Fund Future Ministry Support Fund 25.000 298 60,000 25,000 11391 60,000 19,298 19,735 RESTRICTED FUNDS Hardshlp Fund Mlsslon Support 554 1,019 554 1,019 TOTALS 165 954 109 984 123 859 152 079 5. ANALYSIS OF FUNDS- PREVIOUS PERIOD PREVIOUS peRIOD Balance 01-)an-21 Balance 31-Dec-21 Incotne Expenditure Transfer5 UNRESTRICTED FUNDS 59 DESIGNATED FUNDS Emergency Maintenance Fund other Mission Fund Future Mlnistry Support Fund 25,000 7,541 60,000 25,000 298 60,000 16,768 24.011 ResTRICTED FUNDS Donations for Ashbumham Hardship Fund Mission Support 59 1591 300 600 300 600 59 900 900 59 TOTALS 183 473 114 628 165 954
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED JI DECEMBER 2022 6. CASH AT BANK AND IN HAND Unrestricted Fund Restricted Fund Total 31-Dec-22 Total 31-Dec-21 Current Account Deposit Account 3,941 141,687 3,941 141,687 9,851 146,130 145 628 145 628 155 981 7. DEBTORS AND PREPAYMENTS Unrestricted Funds Restricted Funds Total 31-Dec-22 Total 31-Dec-21 Accrued Income.. Gift Aid tox Security Dep051t Staff Lgan 2,991 3,600 850 2,991 3,600 850 5,877 3,600 1,450 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Unrestricted Fund Restricted Fund Total 31-Dec-22 Total 31-Dec-21 Independent Examiner5 Fees 990 990 954 990 990 954 9. STAFF COSTS AND NUMBERS The charlty operates a PAYE scheme, as detalled below.. 2022 2021 Gmss Salaries Employer's National Tnsurance Costs Employer's Pension Contributions Employer's Allowance Other Staff Costs (Rent and Rate5 a5 part of remuneration package) 39,036 3,046 3,009 13,0461 26,459 35,613 2,478 2,854 12,4781 23,988 Employees wefft engaged in the following attivities.. 2022 TOTAL 2021 TOTAL Activities In furtherance of organisation's objects No employees received emolurnents in excess of £60,000. The key managernent personnel of the charity are considered to be the Trustees. No Trustees triVed rernuneration. In the 2022 financial year the Church Pastor was provlded wlth manse accommodatlon as a part of the remuneratlon package and in accordance with a formal tenancy agreement. As the landlord, the Church paid the rent, council tax, water and sewerage ¢harges olating to the Manse. 12
VINE EVANGELICAL CHURCH (SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED JI DECEMBER 2022 10. DIRECTORS AND OTHER RELATED PARTIES One director is also 8 director of Sevenoaks Christian Counselling Service, to whom the church made donations during the year totalllng £2,845 12021.. £2,455). Thls is also Included In Outreach & Mlsslon In Note 4. A second director and his spouse are employee5 Ibut not director51 of KeachAcross IUKI, to whom the church rnade donations during the year totalling £6,96012021.. £9,050) which is Included In Cornrnended Workers in Note 4. Other than this, no paymÈnts wÈrÈ mèdÈ to directors or any persons connÈ¢ted with them during this finan¢ial period. No moterial transaction took place between the oryanisation ind a director or any per50n connected with thetn. During the year, directors and related persons made donations to the charity totalling E18,132 (2021.. £17,705). 11. 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 contmls over key financial systems carried out on an annual basis wlll provide sufficient resources In the event of adverse conditions. The directors have also examined other operational ènd business risks which they face and confirm thèt they have established systems to mitigate the significant risks. 12. RESERVES POLICY The directors have considered the level of reserves they wish to retain, appropriate to the charity'5 needs. This 15 based on the charity's size and the level of financi31 cornmitments held. The directo aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in incorne or unexpected expenditure. The directors will endeavour not to set aside funds unesSarIly. 13. PUBLIC BENEFIT The charity acknowledges Its requirement to demonstrate clearly that It rnust have charitable purposes or'aims. that are for the public benefit. Details of how the charity has achieved this are provided in the report of the dirertors. The directors conflrm that they have paid due regard to the Charity Commlsslon guldance on public benefit before declding what activities the charity should undertake. 13
VINE EVANGELICAL CHURCH {SEVENOAKS) (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS I report to the charlty trustees on my examlnatlon of the accounts of Vine Evangelical Church Isevenoaksl for the year ended 31 December 2022. RESPONSIBILITIES AND BASIS OF REPORT As the charity's trustees (who are also the directors of the company for the purposes of company lawl, you are responsible for the preparation of the accounts in accordan with the qUirementS of the Companies Act 2006 1"the 2006 Act"). Having satisfied myself that the accounts are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of your charity s accounts as carried out under section 145 of the Charlties Act 2011 1"the 2011 Art"). In carrylng out my examination, I have followed the Directions given by thè Charity Commission (under settion 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm that no material matters have come to my attention which gives rne cause to believe that.. accounting records were not kept in accordance with section 386 of the Companies Act 2006.. or the accounts do not accord with such records,. or the accounts do not comply with relevant accounting requirernents under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared In accordance with the chatIeS SaRP IFR51021. I have no concerns and have come acr055 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. J Irvine-smith FCIE Independent Examiner5 Ltd Unit 2 The Broadbridge Business Centre Delling Lane Boshom West Sussex P018 8NF Date.'.15th June 2Q23............................ 14