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2024-03-31-accounts

Charity registration number 1150752

Company registration number 08341599 (England and Wales)

COVENTRY VINEYARD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

COVENTRY VINEYARD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Curran N Sutton C Munford R Farrell T Labeodan (Appointed 18 March 2024) Charity number 1150752 Company number 08341599 Registered office Studio 3 54 Grafton Street Coventry CV1 2HW Independent examiner Spencer Gardner Dickins Limited 3 Coventry Innovation Village Cheetah Road Coventry CV1 2TL

COVENTRY VINEYARD

CONTENTS

Page
Trustees' report 1 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 19

COVENTRY VINEYARD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Status

Coventry Vineyard is a registered charity, charity number 1150752, duly constituted by a Trust Deed and operating as a church.

Coventry Vineyard was incorporated as a company limited by guarantee (company no 08341599) on 27th December 2012 and was registered with the Charity Commission under reference 1150752.

Charity Transfer

On 1st April 2013, the net assets and activities of Coventry Vineyard, charity number 1094167, an unincorporated entity, were transferred to the company, the company being dormant until that date.

Organisational Structure

The day to day running of the church is delegated to the employed pastoral and administrative staff led by the Senior Pastors, Nick and Vicki Sutton. Nick Sutton is also a trustee.

Appointment of Trustees

New trustees are made by the recommendation of the Senior Pastor and ratified by existing Trustees who appoint by a resolution of the Trustees passed at a meeting of the Trustees. Trustees serve for a three year term. Trustees will be recruited with reference to their commitment to the Church, the specific needs of the charitable company and the working dynamics of the Trustee team.

Professional Advisors

The Trustees will from time to time appoint external advisors to advise the Church with regard to specific areas.

Current appointments are:

Relationship with Vineyard Churches UK

Coventry Vineyard is a member of Vineyard Churches UK (VCUKI), a charity functioning as a resource for similar churches. In particular, they provide significant resources, training and pastoral oversight. Membership also allows Mr Nick Sutton to be a licensed accredited pastor who has a right to use the trademarked "Vineyard" name.

The association provides pastoral care for the senior Pastors and family, and an external reference concerning church affairs and doctrine.

Coventry Vineyard grants 5% of its annual income to Vineyard Churches UK.

Leadership Structure

Coventry Vineyard has several areas of leadership which overlap. Each area has distinct responsibilities in order to take adequate care of each church member and continue ongoing outward ministry to benefit the community.

The leadership structure and responsibilities are as follows:

1) Trustees

The full responsibilities of the Trustees/Directors are set out, in respect to accounting and financial information, in the Coventry Vineyard Trust Deed.

Further Responsibilities include:

COVENTRY VINEYARD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2) Neighbourhood Leaders and Discernment Group

Our Discernment Group, made up of key leaders, work alongside the Pastors in determining the direction and focus of Coventry Vineyard.

Our team of Neighbourhood Leaders assist the Senior Pastors in fulfilling the vision and direction of Coventry Vineyard to be more intentional about disciple-making, engage with our neighbours, provide pastoral care and coach Life Group Leaders.

3) Life Group Leaders

4) Coordinators

Oversee the ministry areas of the Church:

Objectives and activities

The vision of Coventry Vineyard is to become one church of 'disciple-making' disciples in multiple locations across Coventry and beyond.

The objectives of Coventry Vineyard come under three categories:

  1. Encouraging people to worship God in their everyday lives

  2. Equipping people to live life as followers of Jesus

  3. Expressing the love and compassion of God to those in need in practical ways

The Charitable Objectives of Coventry Vineyard are:

A. The advancement of the Christian faith in accordance with the Vineyard Churches UK statement of faith, values, priorities, practices and leadership standards appearing in the schedule hereto in Coventry and in such other parts of the United Kingdom as the trustees may from time to time think fit.

B. The relief of the poor and needy, the sick and elderly in Coventry and in such other parts of the United Kingdom or the World as the trustees may from time to time think fit.

C. The furtherance of religious or secular public education.

D. Such other charitable objectives and for the benefit of such other charitable institutions as the trustees in their absolute discretion see fit.

The activities of Coventry Vineyard can be summarised as follows:

a. Providing worship for those who attend the church on a weekly basis.

b. Proclaiming the gospel of Jesus Christ through teaching and demonstrating the love, mercy and grace of God.

c. Undertaking regular 'community projects', the aim of which is to provide help and assistance to those in need, to encourage people to be more aware of God and to demonstrate the gospel of Jesus Christ in a practical and tangible way.

The trustees believe that Coventry Vineyard complies with the Charity Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion.

COVENTRY VINEYARD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Public Benefit

In planning the charity's activities the Trustees have given consideration to the guidance provided by the Charity Commission on 'public benefit' issued in December 1998.

Sunday Venue

Our weekly Sunday Morning Gathering has continued to be at Foleshill Community Centre (157 Foleshill Road, Coventry, CV5 6HW) - a place from which we also run our GrowKids ministry. Our move to the neighbourhood of Foleshill has enabled us to develop our commitment to being a more multicultural church. We have seen a greater diversity in those attending our Sunday Morning Gatherings and have made significant steps to engage with the Foleshill Community through our Messy Church and Community Lunch on the first Sunday of each month. The Sunday Morning Gathering remains a key and important element of in-person gathering and corporate worship and creates a space for people to experience the life changing presence of Jesus, be encouraged and equipped to live as followers of Jesus.

Office Premises

The Coventry Vineyard office is located at Studio 3, FarGo Studios, 54 Grafton Street, CV1 2HW. We use these premises offices for church operations, as well as for prayer meetings, training and one of our life groups.

Employment

Coventry Vineyard employs one Pastor (full-time), one Pastor (part-time), a Children and Families Pastor (parttime), and an Office Manager (part-time).

During the year, a GrowKids Administrator/Support Worker (part-time) was employed on a 6 month fixed-term contract.

Worship

Encouraging worship, both corporate sung worship and individual worship in everyday lives, continues to be a priority at Coventry Vineyard. We are passionate about worshipping God and allowing space for His Spirit to move during times of sung worship. The content and direction of the worship, including the introduction of new songs, encourages a one-body approach to worship. During the year we continued a monthly prayer and worship night providing a relaxed, reflective and open time of worship and space to listen to Holy Spirit, together with a focused prayer time for our city and our world.

Church Community

The infrastructure of our church community revolves around our Life Groups in which we “do life together and bring the life of the Kingdom to our neighbours”. Our vision is to show our generation how to follow Jesus and bring kingdom transformation to the world around us. Our current strategic focus is to be one church of 'disciple-making' disciples in multiple locations across Coventry and beyond.

Our Life Groups are where we ‘do life together’, developing authentic relationships both with one another and with the communities in which we live. Life groups are where we equip one another to live life as followers of Jesus and encourage one another in spiritual formation.

Each Life Group also has an outward focus and ‘adopts’ a community/neighbourhood, serving their neighbours together, expressing God’s love in practical ways, and building long lasting relationships in the community (especially in deprived areas of our communities). On the first Sunday of the month the life groups engage with their neighbours and ‘be church’ in their community.

Journey Groups (smaller groups of 3 to 5 people) continue to occur throughout church. These are designed for those who have made the decision to find out more about Jesus and the Bible and go deeper in their spiritual growth: forming habits that help them to become more like Jesus and share Him with others.

COVENTRY VINEYARD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Sunday Afternoon Gathering

In September 2023 we launched a Sunday Afternoon Gathering, meeting at Commonground coffee shop in the heart of FarGo Village. The aims of this Sunday Afternoon Gathering are:

Volunteers stepped up into team roles, maturing personally as disciples, and growing their leadership skills. Over the course of the year, we saw several new people connect with us through this afternoon gathering, many of whom were ‘just passing by’ at first.

Vineyard Kids

We have continued to run a Sunday Morning Kids programme for 2-10 year-olds at Foleshill Community Centre on weeks 2, 3, 4 and 5. This programme seeks to encourage children:

Our under 2’s have dedicated space in the main hall, where parents/carers can supervise them playing during the morning gathering.

Up until January 2023 we had 3 different age groups as follows:

Our under 2’s have dedicated space in the main hall, where parents/carers can supervise them playing during the morning gathering.

We continue to have time as a whole church on a weekly basis, where our kids stay in with the adults for the first part of worship followed by a kids slot (primarily aimed at kids and families) introducing their topic for the day. We had all-age gatherings at Christmas and Easter where the kids and adults worshiped and learned about God together. The structure of these gatherings have been different to normal with much shorter segments to try and keep all ages engaged.

Youth

Our youth group has grown this year and the age range has increased to children in year 5 to 10 (10-15 years old). The youth group is based around bible discussion and games. Hot chocolate and marshmallows are also consumed in quite large quantities!

We have had two socials for the older kids and younger youth (8-12 year olds), where they got to continue building friendships while having fun on climbing walls and kayaks.

GrowKids

GrowKids recycles nearly-new clothes, toys and equipment to help families in need with children under 11. This is regardless of income, background, or faith; no referral is needed (except for items such as pushchairs, nappies, formula and baby food), and all items are free. GrowKids is based at Foleshill Community Centre on Fridays between 10:30am - 12:00pm (for families to collect items) and 12:30 - 2:00pm (for donations to be made).

Our vision is to build strong relationships and community with isolated and struggling families. We work from the social supermarket’s premises which allows us to support many families in this very deprived area. We’re supporting children in their earliest years, and are hopeful that this will improve their chances of reaching their full potential in the future. We seek to empower families and help them realise their potential by encouraging them to volunteer on our team and become part of the solution. We gratefully receive donations from our families when they outgrow items, helping them feel they are contributing to the solution and helping other families in need too.

COVENTRY VINEYARD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Over the last financial year we have helped 206 families (including 133 new families), donating around 7,500 items! We have had 31 families come to our Stay & Play without receiving donations. Our volunteer team has grown with several GrowKids mums joining the team. We have started doing informal interviews with new families allowing us to find out more about the support they need - this enables us to signpost several families to other organisations such as Christians Against Poverty, Household Support Fund and Feeding Coventry.

Our relationship with the Feeding Coventry team at Foleshill Community Centre has continued to grow and we look forward to seeing where this partnership will take us in the future.

Between May and December 2023 we were running GrowKids on a second day at Foleshill Community Centre. However, despite advertising this, we got very low numbers on Tuesdays (whilst Fridays continued to be busier than ever!). After giving time to see if things would change, we decided to stop the Tuesday session and put all our resources towards the busy Friday sessions.

We have continued to run activity sessions at HAF Holiday Club (Holiday, Activity and Food) at Foleshill Community Centre, which is funded by the council for families with limited finances. The GrowKids team ran 1 day of activities during summer 2023, a 1 day session at Christmas 2023 and a 1 day session at Easter 2023. These sessions included games and crafts. Food was provided by the team at Foleshill Community Centre. Running these HAF sessions has enabled us to build relationships with families and understand the community we are serving much better.

One of our families wrote:

“GrowKids has been such a positive addition to our weekly routine for myself and my toddler. It has provided a much needed safe place where my child can play with toys and partake in crafts and activities. She can interact with other children and the lovely adult volunteers on a weekly basis which has hugely helped with her development as she does not attend nursery. They have been a massive help to our family financially with supplying clothes, toys and books when needed. And from conversations I have had, it is clear that GrowKids has been a lifeline for a lot of families in the community.” – Cassie E

Volunteers

We continue to train and release new volunteer leaders. Coventry Vineyard is indebted to the volunteers that make ‘ministry’ happen and enable us to meet our charitable objectives. Our volunteers give a substantial amount of time and energy and are committed to the vision of Coventry Vineyard, and to see lives changed by the person of Christ and power of His Kingdom.

HOPE : Coventry, and CAP

We continue to support HOPE:Coventry (Registered Charity Number: 1155912) which exists to grow a connected church in Coventry that demonstrates the love of Jesus for the benefit of the city. It does this by supporting initiatives that connect the churches together and projects that meet the needs of the vulnerable. As part of this we also support Christians Against Poverty (CAP) , which equips people to get out of debt and be empowered to address some of the most common causes of poverty: debt, unemployment, addiction, low income, and difficulty budgeting.

Community Projects

Messy Church - Messy Church consists of crafts and activities around a biblical theme, followed by a celebration and a lunch. This is mainly aimed towards families with primary school aged kids, however all are welcome. Messy Church exists to encourage spiritual, emotional, and social development like our Sunday morning kids groups. It also aims to be fun and build community. Messy Church aims to be accessible to non-churched families.

Community Lunch - Every month we provide a simple lunch for those in the Foleshill Area. This creates an environment for developing community and provides a healthy meal for families and individuals who may be struggling with the cost of living.

COVENTRY VINEYARD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Overseas Missions and Donations

Coventry Vineyard raised and donated funds for the relief of the poor and needy in Coventry and around the world, as well as using funds for community projects. In particular, we have supported:

The Dalitso Trust (Charity Number: 1090274) in Malawi - The Dalitso Trust exists to teach and equip rural Malawians so that they are empowered to lift themselves and each other out of poverty. Through personal relationships that inspire faith the Trust seeks to build capacity in such areas as holistic health, parenting skills, under 6 educational play and church leadership. The Dalitso Trust trains and empowers local people in rural villages, integrating leadership training with disease prevention and community-based development.

Mali Partnership - Coventry Vineyard has developed links with Christians in Mali, a place where many Christians face persecution for following Jesus. We are committed to serving our Malian brother and sisters as they make disciples, plant churches and create sustainable businesses. Our role is to partner with the growing Mali Vineyard and help develop a Vineyard Church Planting movement in Mali, governed and financed by the local churches in Mali.

Nick Sutton currently serves as Missions Coordinator for Vineyard Churches UK & Ireland and is released by Coventry Vineyard to fulfil the purposes of this role.

Financial review

The charitable company made a surplus in the year of £22,039 (2023 - surplus of £5,237).

Total income increased by 12.1% on the previous year, primarily due to grants received in the year towards GrowKids activity. Total expenditure decreased by 0.4% compared to 2023. This was primarily a result of an increase in Ministry and Outreach spending cost and additional donations paid relating to the Mali partnership, offset by a reduction to staff costs due to a reduction in staff numbers. 10% of our income was given away in charitable donations.

Reserves Policy

The reserves policy is the total of: six months salaries for all staff, six months hire costs for Foleshill Community Centre, rental for Studio 3 (office) to the end of the tenancy, plus phone contracts and accountancy costs for one year. Unrestricted reserves totalled £98,848 on 31st March 2024, which is £52,989 over our reserves policy.

Summary

It should be noted that the above is not an exhaustive list of activities. However, they demonstrate that Coventry Vineyard is continuing to fulfil its obligations and achieve its objectives.

Those who are members of Coventry Vineyard have grown in their faith and belief, and demonstrated this by their actions of serving the rest of the church community and giving financially to those in need. New people have become active members and participants in the community of Coventry Vineyard.

COVENTRY VINEYARD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Risk Management

Coventry Vineyard has a Child Protection Policy (https://www.coventryvineyard.org/kids.html) that regulates all persons working with youth and children. We also run Safeguarding Training three times a year which is compulsory for all involved in kids and youth work.

A risk assessment has been carried out for the Sunday Morning Gathering, including children's work.

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:-

The Trustees aim to review, on a regular basis, the main risks that the church faces. They believe that maintaining free reserves at a level stated on page 8, combined with appropriate reviews of the controls over key financial systems provide sufficient resources, in the event of unexpected adverse conditions.

Structure, governance and management

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

A Curran N Sutton C Munford R Farrell R Robertson (Resigned 11 September 2023) T Labeodan (Appointed 18 March 2024)

Auditor

In accordance with the company's articles, a resolution proposing that Spencer Gardner Dickins Limited be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

.............................. C Munford Trustee

Date: .............................................

COVENTRY VINEYARD

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COVENTRY VINEYARD

I report to the trustees on my examination of the financial statements of Coventry Vineyard (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

Debra Knighton FCCA Spencer Gardner Dickins Limited

3 Coventry Innovation Village Cheetah Road Coventry CV1 2TL

Dated: .........................

COVENTRY VINEYARD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
2
115,802
31,655
Investments
3
1,732
-
Other income
4
1,632
-
Total income
119,166
31,655
Expenditure on:
Charitable activities
5
117,987
10,795
Total expenditure
117,987
10,795
Net income and movement in
funds
1,179
20,860
Reconciliation of funds:
Fund balances at 1 April 2023
97,811
9,296
Fund balances at 31 March
2024
98,990
30,156		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
147,457
119,530
13,936
1,732
950
-
1,632
105
-
150,821
120,585
13,936
128,782
122,440
6,844
128,782
122,440
6,844
22,039
(1,855)
7,092
107,107
99,666
2,204
129,146
97,811
9,296		 Total
2023
£
133,466
950
105
134,521
129,284
129,284
5,237
101,870
107,107

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

COVENTRY VINEYARD

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Restricted income funds
15
Unrestricted funds		 2024
£
12,005
105,587
117,592
(3,448)		 £
4,664
10,338
15,002
114,144
129,146
129,146
30,156
98,990
129,146		 2023
£
15,184
78,240
93,424
(3,532)		 £
7,030
10,185
17,215
89,892
107,107
107,107
9,296
97,811
107,107

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on .........................

..............................

C Munford Trustee

Company registration number 08341599 (England and Wales)

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Coventry Vineyard is a private company limited by guarantee incorporated in England and Wales. The registered office is Studio 3, 54 Grafton Street, Coventry, CV1 2HW.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds include general and designated funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund.

1.4 Income

All income is included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 20% straight line

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2024
2024
£
£
Gift aid donations
77,124
-
Other donations
18,306
31,655
Income tax
20,372
-
115,802
31,655		 Total
Unrestricted
Restricted
funds
funds
general
2024
2023
2023
£
£
£
77,124
86,615
-
49,961
10,903
13,936
20,372
22,012
-
147,457
119,530
13,936		 Total
2023
£
86,615
24,839
22,012
133,466

3 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 1,732 950

4 Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net gain on disposal of tangible fixed assets 1,632 105

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

5 Expenditure on charitable activities

Charitable Charitable
expenditure expenditure
2024 2023
£ £
Direct costs
Staff costs 66,691 68,753
Depreciation and impairment 1,637 1,996
Sunday mornings 12,117 11,370
Worship & PA 954 942
Kids 12,518 10,416
Youth 674 540
Neighbourhood initiatives 732 1,096
Hospitality 2,406 1,896
Senior Pastor development 397 2,842
Donations 14,886 16,046
Office costs 9,215 7,858
Administration 4,110 2,496
Motor expenses 573 803
Legal & professional costs 1,872 2,230
128,782 129,284
Analysis by fund
Unrestricted funds 117,987 122,440
Restricted funds 10,795 6,844
128,782 129,284
6 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 1,637 1,996
Profit on disposal of tangible fixed assets (1,632) (105)

7 Trustees

During the year ended 31 March 2024 the charity paid £37,907 in remuneration to its trustees as disclosed by the charity's trust deed.

During the year ended 31 March 2024 the charity paid £1,045 in expenses to 2 of the trustees in respect of travel, subsistence, hospitality and resources for volunteers.

No conflicts of interest were identified in relation to the payment of remuneration or expenses to trustees.

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
5 4
Employment costs 2024 2023
£ £
Wages and salaries 63,657 65,309
Other pension costs 3,034 3,444
66,691 68,753

There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Tangible fixed assets

Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 April 2023 14,947
Additions 378
Disposals (2,294)
At 31 March 2024 13,031
Depreciation and impairment
At 1 April 2023 7,917
Depreciation charged in the year 1,637
Eliminated in respect of disposals (1,187)
At 31 March 2024 8,367
Carrying amount
At 31 March 2024 4,664
At 31 March 2023 7,030

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

11 Fixed asset investments

Cost or valuation
At 1 April 2023
Interest
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
Investments at fair value comprise:
Green Pastures CBS Loan Stock
12
Debtors
Amounts falling due within one year:
Income tax (Gift Aid)
Other debtors
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income		 Unlisted
investments
£
10,185
153
10,338
10,338
10,185
2024
2023
£
£
10,338
10,185
2024
2023
£
£
8,448
11,645
1,672
1,673
1,885
1,866
12,005
15,184
12,005
15,184
2024
2023
£
£
-
1,465
3,448
2,067
3,448
3,532

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

14 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 3,034 3,444

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
GrowKids 9,296 31,655 (10,795) 30,156
Previous year: At 1 April Incoming Resources At 31 March
2022 resources expended 2023
£ £ £ £
GrowKids 2,204 13,936 (6,844) 9,296

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
Sabbatical fund 2,500 - - - 2,500
Church Plant fund 5,000 - - - 5,000
Overseas Leadership fund 750 - - - 750
Dilapidations Fund 1,500 - - - 1,500
GrowKids 3,000 - - - 3,000
General funds 85,061 119,166 (117,987) - 86,240
97,811 119,166 (117,987) - 98,990

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16 Unrestricted funds (Continued) (Continued)
Previous year: At 1 April Incoming Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
Sabbatical fund 2,500 - - - 2,500
Church Plant fund 2,000 - - 3,000 5,000
Van fund 6,000 - - (6,000) -
Overseas Leadership fund 750 - - - 750
Dilapidations Fund 1,500 - - - 1,500
GrowKids - - - 3,000 3,000
General funds 86,916 120,585 (122,440) - 85,061
99,666 120,585 (122,440) - 97,811

17 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
4,664
-
Investments
10,338
-
Current assets/(liabilities)
83,988
30,156
98,990
30,156
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 March 2023:
Tangible assets
7,030
-
Investments
10,185
-
Current assets/(liabilities)
80,596
9,296
97,811
9,296		 Total
2024
£
4,664
10,338
114,144
129,146
Total
2023
£
7,030
10,185
89,892
107,107

COVENTRY VINEYARD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024 2023
£ £
Between two and five years 9,178 11,923

19 Related party transactions

There were no disclosable related party transactions during the year.