REGISTERED COMPANY NUMBER: 8428264 (England and Wales) REGISTERED CHARITY NUMBER: 1151817
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
BISHOP'S STORTFORD VINEYARD CHURCH
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
BISHOP'S STORTFORD VINEYARD CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
BISHOP'S STORTFORD VINEYARD CHURCH
REPORT OF THE TRUSTEES
for the year ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The charity's objects are for the public benefit and are restricted to the following:
a) To advance the Christian faith in accordance with the statement of beliefs in the schedule to the articles including but not by way of limitation through the planting of other Vineyard Churches in such ways and in such parts of Bishop's Stortford, the United Kingdom or the world as the Trustees from time to time may think fit;
b) To further Christian education in such parts of Bishop's Stortford, the United Kingdom and the world as the Trustees may from time to time think fit;
c) To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling, training in life skills and support in such parts of Bishop's Stortford, the United Kingdom or the world as the Trustees from time to time may think fit;
d) To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
Public benefit
In planning the activities the Directors have had regard to the guidance on public benefit issued by the Charity Commission.
Vision & Mission Statements
Our Vision is to be a community that lives out the message of Jesus and the Bible in such a way that all may grow to experience the love of God. Our Mission is to make Jesus known to those we encounter and equip them to follow Him.
Page 1
BISHOP'S STORTFORD VINEYARD CHURCH
REPORT OF THE TRUSTEES
for the year ended 31 March 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The church continues to meet at Chateau Café. This is a popular venue, and the meeting is focused on fellowship, discussion of a contemporary biblical issue and prayer for one another. The teenagers participate with the adults in the Café. It has taken time to find a suitable venue for our evening meetings. We meet each month at the Takeley Chapel. This meeting is traditional which includes worship, preaching and ministry. At regular intervals we join St James Thorley for a worship service.
We continue to encourage our children in their faith and at Chateau Café the children use the soft play facility which we hire for exclusive use by them. This has enabled us to have a craft and lesson for the children. We continue to encourage our children in their faith. We have good participation from parents and continue to work on how to improve our children's ministry.
Small groups continue to play an important part of our life together. These groups support and encourage faith and contribute to the life and community of the church. The men's ministry has moved from being a monthly evening event to multiple events. These include golf days and pub outings with neighbours. A ladies group meets in the morning every fortnight. Attendance at this meeting has improved. Our "Table Talk Groups" are doing well with most members of the church involved in these groups. Members are involved with their neighbours and their local communities. Our leadership group meets, and the main task is to discern what we believe God is directing us towards. There is ongoing pastoral support for members of the congregation.
Our congregation continues to be involved in helping at the Night Shelter and the Food Bank. The church supports the 'shoe box' initiative at Christmas and a function for vulnerable children was held the week before Christmas. We are anticipating repeating this at other times during the year. A Christians Against Poverty course was held for anyone in the community who wished to attend. The senior pastor meets regularly with church leaders of the town to pray and support each other. One of our pastors is now a voluntary hospital chaplain which we feel is a service to the community. We continue as a church to be involved in a variety of initiatives under the banner of Churches Together Bishop's Stortford.
We are a family focused congregation and organize special events in line with the Christian Calendar to foster reflection and a greater sense of community. The spiritual life of the congregation is vital if it is to achieve its mission and vision. We are constantly mindful of the fact that we exist to bring the good news of God's love and grace to a world in need. The congregation is constantly reminded that everyone needs to be involved in reaching out and touching the lives of people in their own sphere of influence. This means speaking about their faith and in practical and concrete ways, expressing God's care by serving those in need.
Money was donated to support several charities in this past year.
FINANCIAL REVIEW
Financial position
Net expenditure for the year was £3,598 (2022/23: net income £5,269). The majority of BSV's income comprised regular donations from BSV's congregation via standing order or direct salary giving, together with gift aid received in relation to those donations. Total income for the year was £124,030 (2022/23: £122,561).
Total expenditure for 2023/24 was £127,628 (2022/23: £117,292).
Reserves policy
The Trustees' Policy on Reserves and Investments is to minimise the level of reserves held in order to make maximum use of available funds to further the aims of the charity and to use low risk investment, which maintains ready access to the reserves. The Trustees have the powers to invest funds as they see fit.
The Trustees consider that the free reserves are equivalent to the net current assets of Unrestricted Funds. This excludes fixed assets, which are needed for the continuing use of the charity and are generally illiquid. They consider that the free reserves should be broadly equivalent to three months' budgeted operating expenditure, which is approximately £30,000 for 2023/24. At 31 March 2024, after accounting for the net expenditure incurred in the year, free reserves were £123,021.
Page 2
BISHOP'S STORTFORD VINEYARD CHURCH
REPORT OF THE TRUSTEES
for the year ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Bishop's Stortford Vineyard Church ("BSV") was established as a company limited by guarantee on 4th March 2013. Ultimate responsibility for the entity rests with the Trustees however day to day management is delegated to the Senior Pastor(s) and decisions and responsibility for all pastoral and leadership matters reside with them. There is also oversight from Vineyard UK (VCUKI) area leaders and their national leadership team.
Decision making
The Board of Trustees ("Trustees") meets at least four times each year, with further meetings as required. The induction process for any newly appointed Trustee comprises an initial meeting with the Chairman where the powers and responsibilities of the Trustees are explained. They are also provided with a copy of the Vineyard Trustee manual.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
8428264 (England and Wales)
Registered Charity number 1151817
Registered office 8 Franklin Drive Elsenham Bishop's Stortford Hertfordshire CM22 6UG
Trustees R Harrap C Goddard Mrs G Goddard Dr S Walton J Yona
Independent Examiner Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF 08/05/24 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ R Harrap - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BISHOP'S STORTFORD VINEYARD CHURCH
Independent examiner's report to the trustees of Bishop's Stortford Vineyard Church ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Christopher Marsh MAAT The Association of Accounting Technicians
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF 08/05/24 Date: .............................................
Page 4
BISHOP'S STORTFORD VINEYARD CHURCH
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
| 31.3.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 120,017 Investment income 2 4,013 Total 124,030 EXPENDITURE ON Charitable activities Church Activities 127,628 NET INCOME/(EXPENDITURE) (3,598) RECONCILIATION OF FUNDS Total funds brought forward 127,431 TOTAL FUNDS CARRIED FORWARD 123,833 CONTINUING OPERATIONS |
31.3.23 Total funds £ 121,050 1,511 |
|---|---|
| 122,561 | |
| 117,292 | |
| 5,269 122,162 |
|
| 127,431 | |
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 5
BISHOP'S STORTFORD VINEYARD CHURCH
BALANCE SHEET
31 March 2024
| 31.3.24 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 812 CURRENT ASSETS Debtors 9 16,775 Cash at bank 117,180 133,955 CREDITORS Amounts falling due within one year 10 (10,934) NET CURRENT ASSETS 123,021 TOTAL ASSETS LESS CURRENT LIABILITIES 123,833 NET ASSETS 123,833 FUNDS 11 Unrestricted funds 123,833 TOTAL FUNDS 123,833 |
31.3.23 Total funds £ 1,218 15,382 117,606 132,988 (6,775) 126,213 127,431 127,431 127,431 127,431 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 08/05/24 ............................................. and were signed on its behalf by:
............................................. R Harrap - Trustee
The notes form part of these financial statements
Page 6
BISHOP'S STORTFORD VINEYARD CHURCH
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and assessment of going concern
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
Creditors
Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 7
BISHOP'S STORTFORD VINEYARD CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Deposit account interest | 4,013 | 1,511 |
| GRANTS PAYABLE | ||
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Church Activities | 12,622 | 12,410 |
| The total grants paid to institutions during the year was as follows: | ||
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Christians Against Poverty | 1,008 | 1,008 |
| Vineyard Churches UK & Ireland | 6,000 | 6,000 |
| Grand Union Vineyard Church | - | 5,000 |
| Adventure Plus | 500 | - |
| Holy Trinity Night Shelter & Community Outreach | 1,000 | - |
| Churches Together in Bishops Stortford | 220 | - |
| Accrued - to be distributed in the following year | 3,675 | 248 |
| 12,403 | 12,256 |
Giving is accrued at 10% of income received.
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 406 | 406 |
| Independent Examination | 1,525 | 1,475 |
5. TRUSTEES' REMUNERATION AND BENEFITS
Chris Goddard, a trustee, received a salary of £42,528 (2023: £40,800), pension contributions of £1,098 (2029: £1,037) and £312 (2023: £312) for use of home as office.
Gail Goddard, a trustee, also received a salary of £42,528 (2023: £40,800), pension contributions of £1,098 (2023: £1,037) and £312 (2023: £312) for use of home as office.
Both Chris and Gail were paid for their roles as pastors, not trustees, as permitted by the governing document.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
Page 8
BISHOP'S STORTFORD VINEYARD CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| All staff No employees received emoluments in excess of £60,000. 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Church Activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS COST At 1 April 2023 and 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 |
31.3.24 31.3.23 2 2 Unrestricted fund £ 121,050 1,511 122,561 117,292 5,269 122,162 127,431 Computer equipment £ 1,624 406 406 812 812 1,218 |
|---|---|
continued...
Page 9
BISHOP'S STORTFORD VINEYARD CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
| 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Accrued expenses 11. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 127,431 TOTAL FUNDS 127,431 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 124,030 TOTAL FUNDS 124,030 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 122,162 TOTAL FUNDS 122,162 |
31.3.24 31.3.23 £ £ 16,775 15,382 31.3.24 31.3.23 £ £ 2,039 1,952 6,970 2,698 1,925 2,125 10,934 6,775 Net movement At in funds 31.3.24 £ £ (3,598) 123,833 (3,598) 123,833 Resources Movement expended in funds £ £ (127,628) (3,598) (127,628) (3,598) Net movement At in funds 31.3.23 £ £ 5,269 127,431 5,269 127,431 |
|---|---|
continued...
Page 10
BISHOP'S STORTFORD VINEYARD CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 122,561 122,561 |
Resources Movement expended in funds £ £ (117,292) 5,269 (117,292) 5,269 |
Resources Movement expended in funds £ £ (117,292) 5,269 (117,292) 5,269 |
|---|---|---|---|
| 5,269 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 122,162 122,162 |
Net movement in funds £ 1,671 1,671 |
At 31.3.24 £ 123,833 |
|---|---|---|---|
| 123,833 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 246,591 246,591 |
Resources Movement expended in funds £ £ (244,920) 1,671 (244,920) 1,671 |
Resources Movement expended in funds £ £ (244,920) 1,671 (244,920) 1,671 |
|---|---|---|---|
| 1,671 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 11
BISHOP'S STORTFORD VINEYARD CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024 |
||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 100,307 | 102,677 |
| Gift aid | 19,710 | 18,373 |
| 120,017 | 121,050 | |
| Investment income | ||
| Deposit account interest | 4,013 | 1,511 |
| Total incoming resources | 124,030 | 122,561 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 86,280 | 81,600 |
| Social security | 4,313 | 4,213 |
| Pensions | 2,196 | 2,078 |
| Insurance | 321 | 310 |
| Telephone | 450 | 519 |
| Postage and stationery | 1,087 | 1,266 |
| Advertising | 514 | 127 |
| Ministries | 1,091 | 434 |
| Training | 616 | 816 |
| Hospitality | 863 | 1,158 |
| Event Hosting | 256 | 322 |
| Travel | 356 | 692 |
| Memberships | - | 686 |
| Rent | 13,510 | 6,740 |
| Technology | 303 | 376 |
| Computer equipment | 406 | 406 |
| Grants to institutions | 12,403 | 12,256 |
| Grants to individuals | 219 | 154 |
| 125,184 | 114,153 | |
| Support costs | ||
| Finance | ||
| Bank charges | 315 | 204 |
| Governance costs | ||
| Professional fees | 2,129 | 2,935 |
| Total resources expended | 127,628 | 117,292 |
| Net (expenditure)/income | (3,598) | 5,269 |
This page does not form part of the statutory financial statements
Page 12
7.5.24 BSVC Finals
Final Audit Report
2024-05-08
Created: 2024-05-08 By: Chris Marsh (chris@marshsolutions.uk) Status: Signed Transaction ID: CBJCHBCAABAAW2Rlk86xZlkM_P_EMpg-inA2Ur3bv1-Z
"7.5.24 BSVC Finals" History
Document created by Chris Marsh (chris@marshsolutions.uk) 2024-05-08 - 11:07:11 AM GMT
Document emailed to R Harrap (rharrap@gmail.com) for signature 2024-05-08 - 11:07:14 AM GMT
Document e-signed by R Harrap (rharrap@gmail.com)
E-signature obtained using URL retrieved through the Adobe Acrobat Sign API Signature Date: 2024-05-08 - 11:12:59 AM GMT - Time Source: server
Document emailed to Chris Marsh (chris@marshsolutions.uk) for signature 2024-05-08 - 11:13:00 AM GMT
Email viewed by Chris Marsh (chris@marshsolutions.uk) 2024-05-08 - 12:45:33 PM GMT
Document e-signed by Chris Marsh (chris@marshsolutions.uk) Signature Date: 2024-05-08 - 12:45:45 PM GMT - Time Source: server
Agreement completed.
2024-05-08 - 12:45:45 PM GMT