**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:
- Finance - Stewardship Services
- HR Advisor - Catherine Bartlem
## **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:
- To advise the Senior Pastors on staffing, salaries and employment issues.
- To manage the legal responsibilities of the charity and ensure full compliance with legislation.
- To create a strong safeguarding culture that protects the most vulnerable in our community.
- 1 -
## **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**
- Encourage those in their groups to live a life of worship.
- Equip church members to live as followers of Jesus (i.e. the Christian Faith).
- Create a culture in which people express love in practical ways both inside the group and to those in our neighbourhoods and communities.
- Provide pastoral care for church members.
## **4) Coordinators**
Oversee the ministry areas of the Church:
- Vineyard Kids (Children’s Ministry)
- Youth Ministry
- Sunday Morning Gathering
- Worship
## **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.
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## **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.
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## **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:
- to join together in worship, conversation and prayer;
- for people to build friendships and community; and
- experience the presence of Jesus.
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:
- in their spiritual and emotional development
- to have fun in a safe environment
- to develop their social skills with children of different ages; and
- to feel a valued part of a larger community.
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:
- Bright Sparks is for 2-4 years (preschool);
- Live Wires (Key stage 1 - 4-7 years); and
- The Grid (key stage 2: 7-11 years).
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.
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## **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.
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## **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.
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## **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:-
- a. An annual budget approved by Trustees
- b. Regular consideration by the Trustees of financial reports
- c. Delegation of authority and segregation of duties d. Identification and management of risks
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: .............................................
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## **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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Debra Knighton FCCA Spencer Gardner Dickins Limited**
3 Coventry Innovation Village Cheetah Road Coventry CV1 2TL
Dated: .........................
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## **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.
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## **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)
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## **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
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## **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.
- 12 -
## **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|
- 13 -
## **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.
- 14 -
## **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|
- 15 -
## **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|
|---|---|
- 16 -
## **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|
- 17 -
## **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|
- 18 -
## **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.
- 19 -