REGISTERED CHARITY NUMBER: 1159859
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
FOR
TYNESIDE VINEYARD
Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
TYNESIDE VINEYARD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Financial Statements | 12 to 22 |
TYNESIDE VINEYARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
The trustees present their report with the financial statements of the charity for the year ended 30 April 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
The objects of the CIO are:
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(A) To advance the Christian Faith for the benefit of the public in accordance with the Statement of Beliefs in such ways and in such parts of Tyneside, the United Kingdom or the World as the trustees from time to time may think fit.
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(B) 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 and support in such parts of Tyneside, the United Kingdom or the World as the trustees from time to time may think fit.
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(C) To promote the benefit of the inhabitants of Tyneside, Wearside, Northumberland and County Durham in the areas of community cohesion, health, education, recreation and leisure. To provide facilities in the interests of the above with the object of improving the conditions of life of the said inhabitants.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees have complied with their duty in Section 17 of the Charities Act 2011 and have paid due regard to guidance published by the Charity Commission regarding public benefit.
Volunteers
| Area of | Number of Weekly | ||
|---|---|---|---|
| involvement | Volunteers |
Estimated Hours | Weekly Total Hours |
| Life Kids | 8 | 3 | 24 |
| Life Youth | 4 | 3 | 12 |
| HostTeam | 10 | 3 | 30 |
| Worship Team | 8 | 3 | 24 |
| Media and PA Team | 4 | 3 | 12 |
| Preaching Team | 1 | 10 | 10 |
| Noah'sArk Team | 10 | 2.5 | 25 |
| The Lamp Team | 4 | 5 | 20 |
| Hot Meals Team | 2 | 4 | 8 |
| Byker PantryTeam | 10 | 8 | 80 |
| Wallsend Pantry Team | 8 | 3 | 24 |
| GrassbootsTeam | 1 | 3 | 3 |
| Pop-Up Pantry Team | 30 | 3 | 90 |
| Annual Hours | 18,100 |
Page 1
TYNESIDE VINEYARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
ACHIEVEMENT AND PERFORMANCE
COMMUNITY
Christmas and Easter
We had around 1000 people attend our Christmas and 500 people our Easter events, across our Wallsend and Marley Hill Communities. This was amazing to see and a testament to all of the hard work put in by volunteers across the church
Refurbishments Impact
In January 2023, we undertook a massive building project with the renovation work on the main hall and side rooms at the Allen. The space has been modernised with a fully equipped kitchen and kids' spaces.
These renovations have made a massive impact on the effectiveness of The Allen for ministry. We have seen new ministries and activities launched in the building.
The renovated rooms have also attracted new room bookings that have increased income generation for the church.
Community Activities
During the summer we ran community Sundays which saw the church put on a variety of events, including: two Sunday BBQs, a picnic and family service.
We've also had lots of other events throughout the year which included a men's event, curry and Quiz night, family swim party, gardening projects, craft events and more.
The Lamp and Noah's Ark
The Lamp Café at Marley Hill continues to go from strength to strength with lots of people coming each week as well as our Noah's Ark toddler groups that are such a blessing to the surrounding communities.
Since the renovations at The Allen we have been able to relaunch our Noah's Ark Toddler Group in Wallsend. This has also been a huge success and some weeks we see over 30 children attending.
During the winter we partnered with both Councils' warm spaces campaigns, inviting more people from the local community to use our spaces and enjoy a free hot drink.
We also launched our Tuesday and Friday free hot meals in October. These have been well received and most weeks we will see around 40 people benefitting from this ministry.
MISSION
Byker Pantry
The Byker Pantry goes from strength to strength on average we serve around 100 members each month. Shoppers have saved over £21,000 on their household bills, purchasing over 46,000 items.
The team have also helped members with grant and benefit applications, and consoled, rejoiced, prayed and shared Jesus's love with countless people during the year.
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TYNESIDE VINEYARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
ACHIEVEMENT AND PERFORMANCE - continued
Pop Up Pantry
It has been amazing to see this project opening four pantries in the first twelve months. We average 262 active members each month and we helped people save over £43,000 on their shopping. This project continues to grow as we continue to work with our partners to end food poverty in our region! We also opened two further pantries in Washington and Percy Main.
Grassboots
The last financial year has seen the demand for our Grassboots continue. We've continued to grow and develop our space in Arden House to provide a wide range of footwear, clothing and baby items to those in need.
We have worked with a range of referral partners from NHS community midwives, schools, social workers, other churches, refugee and asylum charities and many more to provide over 931 pairs of footwear and 2,995 items of clothing, sports equipment and baby/other items.
FORMATION
Beloved
It was amazing to be able to host our in person Beloved conference, following two years online. We had brilliant speakers, extended times of worship, prophecy sessions and a marketplace full of art, clothing and craft. There were around 100 people in attendance.
The Hub
This year we felt led to launch a monthly youth service called The Hub. We have partnered with Hope Vineyard Sunderland and see between 30-40 young people attending. These have been amazing events where our youth have heard age appropriate talks, worshipped together and had loads of fun.
Dreaming the Impossible
The team took some of the youth to the Vineyard DTI conference in July. It was so exciting to see our youth experience the Holy Spirit in a fresh and new way as they gather together to workshop and praise Jesus. DTI has also been a great opportunity for stronger relationships to develop between the Hope Vineyard and Life Vineyard youth.
PRESENCE
Sunday Service
Intimate worship, song-writing and creativity remain a focal point for our church. It has been wonderful to see the number of people attending our Sunday Services grow by 15% in the last year.
Revive
We decided that it was time to stop the Revive evening service to make space for launching The Hub youth service.
MULTIPLICATION
South Shields
LVC South Shields has gathered a good team of people that are now attending a Life Group in the town. They continue to run a family fun event and this has had up to 140 people from the community attend. The group continues to run many activities for the community and display Jesus's love for them as they grow.
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TYNESIDE VINEYARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
ACHIEVEMENT AND PERFORMANCE - continued
LVC South Shields will be commissioned as a new Church Plant in September 2024 with Mike and Jo Sutton as the Senior Pastors. This will be Life Vineyards second church plant.
Newcomers
The church has continued to grow with the average weekly attendance of our morning services up by 15% in the last 12 months. Including Revive and South Shields, and The Hub the weekly attendance has grown by over over 25%.
Baptisms
This year we baptised 7 people across both Wallsend and Marley Hill sites.
Life Groups and Ministries
Life Groups continue to be a core part of the church. We have seen new people join a group which is wonderful. Ministries have also grown and new teams and leaders were added throughout the year.
FINANCIAL REVIEW
Financial position
The charity reported total incoming resources of £508,891 (2023 - £497,865) of which £47,837 (2023 - £108,552) was subject to restriction; resources expended amounted to £532,528 (2023 - £515,336) of which £47,837 (2023 - £108,552) was subject to restriction resulting in an overall net deficit of £23,637 (2023 - £17,471).
At the balance sheet date, total funds amounted to £280,836 (2023 - £304,473), none of which was subject to restriction. The free reserves of the charity amounted to £42,944 (2023 - £82,685).
Reserves policy
In 2023-24 we reviewed our reserve policy and decided to move to a simpler model of a target of 2 months full expenditure. Trustees agreed that 3 months full expenditure would be the maximum reserve unless we were planning for a known larger expenditure or investment.
We also assessed that a minimum reserve would be £30,000 which enabled for every day activities to continue unhindered. Should the church run a continued monthly deficit that was projected to take the cash in hand and debtors balance below the two months full expenditure then the trustees would assess what interventions would be required.
This year our end of year balance of cash in hand and debtors was £53,803. This is below the target of £76,842 (two months full unrestricted expenditure). This was caused by inflated costs of renovation work and significantly greater than expected energy costs.
Over the next 2 years the trustees recognise that staffing costs need to be reduced to ensure that there is a surplus created to increase the reserve balance. We expect the next financial year to involve a lot of change and for FY 25/26 to return to surplus once the staffing costs have been reduced.
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TYNESIDE VINEYARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
FUTURE PLANS
Specifically, our aims for the coming year include:
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We aim to continue to grow our Sunday Service including our children and youth ministries.
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We aim to continue to grow our Affordable food projects and work to make them more sustainable.
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• We plan for Geoff and Caroline Dawson to take a sabbatical for 3 months starting in June 2024.
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We will commission Mike and Jo Sutton to lead Beacon Vineyard South Tyneside in September 2024.
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We will develop the new leadership group (made up of 12 key leaders, staff and volunteer) and embark on a long-term 3-5 year planning process.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution and constitutes a charitable incorporated organisation.
Recruitment and appointment of new trustees
Trustees periodically review if there is a need for new trustees, taking into the skills, abilities and capacities of current trustees and the requirements of the charity.
In accordance with our constitution, new trustees are nominated by the church's spiritual leadership (the senior pastors) and appointed by decision of the current trustees.
Trustees are appointed for a five year term and may be re-appointed at the end of a term by decision of the remaining trustees.
Where practicable new trustees are recruited from existing volunteer leaders within the church. Trustees will suggest potential appointees who will be contacted by the chair/senior pastor to discuss the role and their suitability, willingness and availability to become a trustee. The chair/senior pastor reports back to the other trustees and nominates individuals for consideration at a trustees' meeting.
If there is a need for expertise that cannot be met from within Tyneside Vineyard, then trustees would look, in the first instance, to find suitable person(s) from within other churches affiliated to Vineyard Churches UK and Ireland.
Organisational structure
Trustees are responsible for the governance and overall management of the charity. They agree an annual budget, changes to staffing establishment, and key policies but implementation and day to day running is delegated to the Senior Pastors who in turn may delegate responsibility to other members of staff and volunteers.
At present trustee decisions (except annual review of Senior Pastor performance and remuneration) are made collectively by all trustees (in a physical meeting or electronically in accordance with the constitution) and there is no formal delegation to individual trustees or trustee sub-groups, but this is kept under review as the charity grows in size and complexity. Individual trustees may be asked, based on their expertise and background, to monitor or develop particular areas of activity, typically in conjunction with a senior pastor or other senior member of staff and to bring any related proposals for change to the board of trustees.
Annual review of Senior Pastor performance and remuneration is delegated to a sub-group of trustees, determined by the Trustees, but excluding any employee(s).
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TYNESIDE VINEYARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT - continued
Induction and training of new trustees
New trustees are given a copy of the constitution, the latest annual report and accounts, the current budget plan and recent trustee minutes. They are advised of publications and documents for trustees available from The Charity Commission, and from Vineyard Churches UK and Ireland.
They are welcomed to their first meeting and introduced to any trustees who they do not know and encouraged to take a full part in discussions.
The Chair/Senior Pastor will meet with new trustees between trustee meetings to help ensure they have an understanding of any issues and to address any concerns or questions.
Key management remuneration
Senior Pastor remuneration has been determined by trustees (excluding any employee) taking into account the responsibilities of the role and remuneration offered by other churches and similar sized charities. Changes are determined by a subgroup of the non-employee trustees (typically two) each year following an annual review of performance and in accordance with the general policy on pay changes for all staff agreed by trustees.
Trustees have agreed a set of grade descriptors with associated pay ranges for other employees, which is reviewed annually, taking into account pay changes in the wider economy. Trustees (excluding any employees or connected persons) agree a general policy for pay changes each year, taking into account the needs and budget of the charity as well as pay changes in the wider economy. Following employee's annual performance reviews, any annual changes to each individual employee's pay is determined by senior pastor(s) in consultation with a delegated trustee and in accordance with the general policy agreed by trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1159859
Principal address
The Allen, The Green, Wallsend, NE28 7NP
Trustees
Dr D Bass Mr A Gilbert Mr F Hindle Mr A Patton Mr A McMurray Ms F Awotona
Independent Examiner
Read, Milburn & Co., 71 Howard Street, North Shields, NE30 1AF
Bankers
Barclays Bank plc, 215 High Street, Gateshead, NE8 1BX
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TYNESIDE VINEYARD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 21 February 2025 and signed on its behalf by:
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Dr D Bass - Trustee
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Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TYNESIDE VINEYARD
Independent examiner's report to the trustees of Tyneside Vineyard
I report to the charity trustees on my examination of the accounts of Tyneside Vineyard (the Trust) for the year ended 30 April 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
| Na Oe
Nicholas J Liley
The Institute of Chartered Accountants in England and Wales
Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
21 February 2025
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TYNESIDE VINEYARD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 314,758 Charitable activities 5 Charitable Activities 17,860 Investment income 4 183 Other income 128,253 Total 461,054 EXPENDITURE ON Charitable activities 6 Charitable Activities 484,691 NET INCOME/(EXPENDITURE) (23,637) RECONCILIATION OF FUNDS Total funds brought forward 304,473 TOTAL FUNDS CARRIED FORWARD 280,836 |
Restricted funds £ - 47,837 - - 47,837 47,837 - - - |
2024 Total funds £ 314,758 65,697 183 128,253 508,891 532,528 (23,637) 304,473 280,836 |
2023 Total funds £ 256,414 137,831 245 103,375 497,865 515,336 (17,471) 321,944 304,473 |
|---|---|---|---|
The notes form part of these financial statements
Page 9
TYNESIDE VINEYARD
BALANCE SHEET 30 APRIL 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 11 | 480,663 | 467,410 |
| CURRENT ASSETS | |||
| Debtors | 12 | 8,489 | 4,580 |
| Cash at bank and in hand | 45,314 | 92,144 | |
| 53,803 | 96,724 | ||
| CREDITORS | |||
| Amounts falling due within one year | 13 | (13,898) | (16,890) |
| NET CURRENT ASSETS | 39,905 | 79,834 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 520,568 | 547,244 | |
| CREDITORS | |||
| Amounts falling due after more than one | |||
| year | 14 | (239,732) | (242,771) |
| NET ASSETS | 280,836 | 304,473 | |
| FUNDS | 18 | ||
| Unrestricted funds | 280,836 | 304,473 | |
| TOTAL FUNDS | 280,836 | 304,473 |
The financial statements were approved by the Board of Trustees and authorised for issue on 21 February 2025 and were signed on its behalf by:
ford. D Bass - Trustee
F Hindle - Trustee
The notes form part of these financial statements
Page 10
TYNESIDE VINEYARD
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2024
| Notes Cash flows from operating activities Cash generated from operations 20 Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities New loans in year Loan repayments in year Interest paid Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2024 £ (8,248) (8,248) (17,208) (17,208) - (2,851) (18,523) (21,374) (46,830) 92,144 45,314 |
2023 £ (3,414) (3,414) (125,743) (125,743) 99,331 (3,720) (16,104) 79,507 (49,650) 141,794 92,144 |
|---|---|---|
The notes form part of these financial statements
Page 11
TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
1. STATUTORY INFORMATION
Tyneside Vineyard is a charitable incorporated organisation, registered in England and Wales and has no share capital. The CIO's registered number and registered office address can be found within Reference and Administrative Details.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The presentation currency of the financial statements is the Pound Sterling (£).
Going concern
The trustees recognise the need to reduce costs in order to ensure a surplus is created in the next 2 years. Steps have already been taken to achieve this and, at the date of approval of these financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue for the foreseeable future and as such the financial statements are prepared on the going concern basis.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Musical and stage equipment - 33% on cost and 20% on cost Furniture and fixtures - 20% on cost Computer equipment - 20% on cost
Taxation
The charity is exempt from tax on its charitable activities.
continued...
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TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
2. ACCOUNTING POLICIES - continued
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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably 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 nett of any trade discounts.
Financial instruments
All financial assets and financial liabilities of the charity qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
3. DONATIONS AND LEGACIES
| Donations Gift aid |
2024 £ 274,644 40,114 314,758 |
2023 £ 211,580 44,834 |
|---|---|---|
| 256,414 |
continued...
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TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
| 4. INVESTMENT INCOME Bank interest receivable 5. INCOME FROM CHARITABLE ACTIVITIES Activity Grants Charitable Activities Grants received, included in the above, are as follows: Vineyard Church Area Grant Government and Local Authority grants Other grants 6. CHARITABLE ACTIVITIES COSTS Direct Costs £ Charitable Activities 88,908 7. SUPPORT COSTS Charitable Activities The following is included within Governance costs Independent Examiner's remuneration (including irrecoverable VAT) |
2024 £ 183 2024 £ 65,697 2024 £ 2,466 24,200 39,031 65,697 Support costs (see note 7) £ 443,620 2024 £ 1,380 |
2023 £ 245 2023 £ 137,831 2023 £ 274 69,626 67,931 137,831 Totals £ 532,528 Mgmt and admin £ 443,620 2023 £ 1,122 |
|---|---|---|
continued...
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TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
8. TRUSTEES' REMUNERATION AND BENEFITS
Aggregate remuneration and benefits for trustees and connected persons was as follows:
| Wages and salaries Social security costs Other pension costs |
2024 £ 69,821 5,138 5,800 80,759 |
2023 £ 71,603 5,480 5,707 82,790 |
|---|---|---|
Dr David Bass and Nicola Bass received remuneration in connection with their roles as religious pastors. The charity is permitted to remunerate a charity trustee or connected person under the conditions set out in clause 2(g) of the charity's constitution.
Lucy Gilbert, the spouse of Adam Gilbert, received remuneration in connection with her role as Finance Administrator under consent of the Charity Commission.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2024 £ 236,864 13,729 19,000 269,593 |
2023 £ 240,684 14,201 18,833 273,718 |
|---|---|---|
The average monthly number of employees during the year was as follows:
| Engaged on charitable activities | 2024 12 |
2023 14 |
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
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TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 256,414 - Charitable activities Charitable Activities 29,279 108,552 Investment income 245 - Other income 103,375 - Total 389,313 108,552 EXPENDITURE ON Charitable activities Charitable Activities 406,784 108,552 NET INCOME/(EXPENDITURE) (17,471) - RECONCILIATION OF FUNDS Total funds brought forward 321,944 - TOTAL FUNDS CARRIED FORWARD 304,473 - |
Total funds £ 256,414 137,831 245 103,375 497,865 515,336 (17,471) 321,944 304,473 |
|---|---|
continued...
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TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
11. TANGIBLE FIXED ASSETS
| COST At 1 May 2023 Additions At 30 April 2024 DEPRECIATION At 1 May 2023 Charge for year At 30 April 2024 NET BOOK VALUE At 30 April 2024 At 30 April 2023 |
Freehold property £ 460,743 17,208 477,951 - - - 477,951 460,743 |
Musical and stage equipment £ 12,336 - 12,336 10,700 1,086 11,786 550 1,636 |
Furniture and fixtures £ 7,969 - 7,969 6,576 1,393 7,969 - 1,393 |
Computer equipment £ 11,087 - 11,087 7,449 1,476 8,925 2,162 3,638 |
Totals £ 492,135 17,208 509,343 24,725 3,955 28,680 480,663 467,410 |
|---|---|---|---|---|---|
Freehold property, known as Life Vineyard Church, The Green, Wallsend was valued at £335,000 in November 2019 by Vickers & Barrass Chartered Surveyors and subsequent renovations were carried out at a cost of £142,951. It is the trustees' view that the property's value at the balance sheet date did not differ materially from the sum of these amounts.
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
| 2024 | 2023 |
|---|---|
| £ | £ |
| 8,489 | 4,580 |
continued...
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TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
| 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Bank loan (see note 15) 3,039 Taxation and social security 2,628 Other creditors 8,231 13,898 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Bank loan (see note 15) 239,732 15. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due within one year on demand: Bank loan 3,039 Amounts falling between one and two years: Bank loan 3,239 Amounts falling due between two and five years: Bank loan 11,055 Amounts falling due in more than five years: Repayable by instalments: Bank loan 225,438 |
2023 £ 2,851 2,933 11,106 16,890 2023 £ 242,771 2023 £ 2,851 3,039 10,371 229,361 |
|---|---|
The bank loan is repayable by instalments over a 30 year term with the final payment falling due in January 2053; a variable rate of interest applies.
continued...
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TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
16. SECURED DEBTS
The following secured debts are included within creditors:
| Bank loan | 2024 £ 242,771 |
2023 £ 245,622 |
|---|---|---|
The bank loan is secured on the charity's Freehold Land and Buildings.
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted funds £ Fixed assets 480,663 Current assets 53,803 Current liabilities (13,898) Long term liabilities (239,732) 280,836 |
Restricted funds £ - - - - - |
2024 Total funds £ 480,663 53,803 (13,898) (239,732) 280,836 |
2023 Total funds £ 467,410 96,724 (16,890) (242,771) 304,473 |
|---|---|---|---|
18. MOVEMENT IN FUNDS
| Unrestricted funds General fund Revaluation reserve Capital fund TOTAL FUNDS |
At 1/5/23 £ 89,352 35,764 179,357 304,473 304,473 |
Net movement in funds £ (5,114) - (18,523) (23,637) (23,637) |
Transfers between funds £ (38,582) - 38,582 - - |
At 30/4/24 £ 45,656 35,764 199,416 |
|---|---|---|---|---|
| 280,836 | ||||
| 280,836 |
continued...
Page 19
TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Capital fund Restricted funds Food Co-operatives Other restricted funds TOTAL FUNDS |
Incoming resources £ 461,054 - 461,054 33,337 14,500 47,837 508,891 |
Resources Movement expended in funds £ £ (466,168) (5,114) (18,523) (18,523) (484,691) (23,637) (33,337) - (14,500) - (47,837) - (532,528) (23,637) |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Revaluation reserve Capital fund TOTAL FUNDS |
At 1/5/22 £ 136,955 35,764 149,225 321,944 321,944 |
Net movement in funds £ (7,146) - (10,325) (17,471) (17,471) |
Transfers between funds £ (40,457) - 40,457 - - |
At 30/4/23 £ 89,352 35,764 179,357 304,473 304,473 |
|---|---|---|---|---|
continued...
Page 20
TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
18. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Capital fund Restricted funds Food Co-operatives TOTAL FUNDS |
Incoming resources £ 383,534 5,779 389,313 108,552 497,865 |
Resources Movement expended in funds £ £ (390,680) (7,146) (16,104) (10,325) (406,784) (17,471) (108,552) - (515,336) (17,471) |
|---|---|---|
Food Co-Operatives includes income from North Tyneside Council, among other sources, to support and develop the Wallsend Pop-Up Pantry and Social Supermarket at the Riverside Centre.
Transfers between funds
The transfer of £38,582 (2023 - £40,457) to the Capital Fund represents the aggregate of expenditure on property improvements (net of grant and loan-funded expenditure) and payments made to reduce the borrowing against the freehold property.
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2024.
20. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest paid (Increase)/decrease in debtors Decrease in creditors Net cash used in operations |
2024 £ (23,637) 3,955 18,523 (3,909) (3,180) (8,248) |
2023 £ (17,471) 3,960 16,104 3,080 (9,087) (3,414) |
|---|---|---|
Page 22
TYNESIDE VINEYARD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2024
21. ANALYSIS OF CHANGES IN NET DEBT
| At 1/5/23 | Cash flow | At 30/4/24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 92,144 | (46,830) | 45,314 |
| 92,144 | (46,830) | 45,314 | |
| Debt | |||
| Debts falling due within 1 year | (2,851) | (188) | (3,039) |
| Debts falling due after 1 year | (242,771) | 3,039 | (239,732) |
| (245,622) | 2,851 | (242,771) | |
| Total | (153,478) | (43,979) | (197,457) |
Page 22