REGISTERED CHARITY NUMBER: 288706
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
FOR
THE VINE TRUST
Richard Kyte Associates Chartered Certified Accountant
126 Weyhill Road Andover Hampshire SP10 3BE
THE VINE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 January 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 | 9 |
THE VINE TRUST
REPORT OF THE TRUSTEES for the Year Ended 31 January 2024
The trustees present their report with the financial statements of the charity for the year ended 31 January 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 objectives of the Trust, as stated in the Declaration of Trust dated 12 December 1983, are:
To promote the Christian Religion by such legally charitable means as the trustees shall in their discretion think fit in the vicinity of Andover in the County of Hampshire.
Significant activities
Since reopening our bookshop following the COVID-19 pandemic restrictions we have seen a steady increase in the number of customers returning to the high street and shopping in The Vine Trust's bookshop. Numbers were down on previous years with many of our regular customers still not shopping on the high street. However we have seen a growth in churches ordering from the bookshop.
We continue to reply on 10 volunteers, an unpaid manager and 4 trustees who are critical to the running of the trust and in particular the bookshop. In addition we have trained 6 asylum seekers short term volunteers during the year. Between them they would donate over 3,200 hours of service to the charity a year. One of our Trustees stepped down at the end of September 2023 and we are looking to recruit a new trustee.
The Trust supported local churches and schools with the donation of 6,454 books and comics costing £5,488 during the course of the year to help them communicate the Christian faith in their local community.
The Trust gives discounts on purchases to local churches and schools.
We encourage local Christian writers by organizing book signings and selling their literature.
We gave donations to the "Andover Foodbank" charity through the sale of packs of Easter and Christmas cards.
We are represented on social media, our website and advertise through Facebook and emails to local churches and schools.
Public benefit
The trustees have had regard to Charity Commission guidance on public benefit and consider that the objectives, aims and achievements of the charity described in the report enable it to meet its duty to the Charity Commission as per section 17 of the Charities Act 2011 and to the benefit of the public.
The Charity rents and operates the Vine Trust Christian Bookshop at 31/33 Bridge Street Andover SP10 1BE.
Our main charitable activities are described below and focus on providing services to the general public, churches and schools, and are undertaken to further our charitable purposes for the public benefit.
Our activities include the following:
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Operating a retail shop supplying Bibles & Bible study material, Christian books, CDs & DVDs, Music books, Christian art, gifts & cards, jewellery and Church supplies.
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Discounted sales for schools and churches and special discounts on bulk orders.
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Promotion of the Christian faith by donating a range of material to local schools and churches.
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Running bookstalls at local schools and churches and national conferences.
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Selling goods to support charities including: Compassion, Leprosy Mission, Tear Fund and Barnabas Fund.
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Supporting local initiatives through Andover Churches Together.
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THE VINE TRUST
REPORT OF THE TRUSTEES for the Year Ended 31 January 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The purpose of The Vine Trust is the propagation of the Christian Gospel by the sale and distribution of Bibles, Christian literature and other Christian resources. The Vine Trust recognises Christian literature to be one of the most effective means for the evangelisation of Hampshire and the edification of the local church and seeks to help meet the local need for Christian literature true to the Word of God and the fundamentals of the Christian faith.
Over the period of this report we have continued to help promote the Christian faith by donating a range of Scripture Union and other publishers' publications to local schools and churches which include Easter comics and books, books for children moving to secondary schools and Christmas comics and books,
FINANCIAL REVIEW
Principal funding sources
The main source of income in the year to 31 January 2024 was the sale of Christian literature and associated products, accounting for over 95% of total income. It also received a small amount of voluntary donations which totalled £717 during the year.
Reserves policy
The general fund at 31 January 2024 totalled £37,428 as compared with the balance at 31 January 2023 of £41,585.
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level equal to 3 months of unrestricted expenditure, which is £8,000. The level of reserves has fallen by £4,157 during this year which is due primarily to the donations of books and publications to local schools and churches. Free Reserves of the charity at 31 January 2024, excluding fixed assets and stock, were £21,587.
FUTURE PLANS
Our aims are as follow:
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1 To continue to review the number of trustees to expand our expertise and introduce younger trustees to the Board.
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2 To utilize the funds that have built up in line with the charitable aims of the Trust, and invest in ways to improve the support we provide to the local community.
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3 We will work with local Churches with the provision of enhanced church resources. 4 We will continue to provide at least 2 bookstalls per month to churches and other venues to promote and sell our products.
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5 To continue to support Alpha courses and other such courses by increasing the range of related material and running bookstalls for them during such courses.
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6 To maintain donations of Christian resources and books to local churches and schools, especially those in rural communities where their resources are limited. We plan to give away books and related items for Easter, children moving to secondary school and Christmas with a total estimated retail value of £10,000.
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7 Continue to support the Andover Foodbank charity by selling Christmas and Easter cards. 8 We will continue to update and produce new procedures inline with our needs and to meet the requirements of the Charity Commission.
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9 Look for ways to mitigate Microsoft's removal of support for Windows 10 to two of our computers that are not compatible with Windows 11.
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10 Become an active partner with Andover Community Church.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The trust is a charity which was registered on 7 March 1984 and established under a declaration of trust dated 12 December 1983.
Recruitment and appointment of new trustees
The trustees are local Christians who want to spread the truth of the Christian religion through the sale of Christian literature and other resources in Andover and the surrounding area.
Organisational structure
The Vine Trust would normally hold a trustees meeting up to 4 times a year where the trustees discuss the current situation and future plans of the charity. There are presently 4 trustees.
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THE VINE TRUST
REPORT OF THE TRUSTEES for the Year Ended 31 January 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
New trustees are provided with a copy of The Vine Trust Purpose Statement, Declaration of Trust dated 12th December 1983 (copy to view from the Secretary), latest Report of the Trustees and Unaudited Financial Statements, recent Minutes of Trustees Meetings, Charity Commission website - '5-minute guides for charity trustees, Charity Commission Trustee Eligibility Declaration - see Charity Commission website, HMRC Model Declaration for Fit and Proper Persons and Faith, Hope and Charity book by Paul Martin. They are also required to have some experience of working in the bookshop.
Risk management
The trustees have a duty to identify and review the risk to which the charity is exposed and ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have conducted a review of the major risks to which the charity is exposed and our Risk register was updated on 1st January 2017. Systems have been established to mitigate these and any new emerging risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
288706
Principal address 31 Bridge Street Andover Hampshire SP10 2BE
Trustees
T Sleath J MacDonald Chairman Mrs G Von-der-Decken Bookkeeper Ms A White (resigned 15.10.23) K Briant (appointed 14.4.23)
Independent Examiner
Richard Kyte FCCA Richard Kyte Associates Chartered Certified Accountant 126 Weyhill Road Andover Hampshire SP10 3BE
Bankers Barclays Bank plc 5 High Street Andover Hampshire SP10 1LJ
Approved by order of the board of trustees on 24 October 2024 and signed on its behalf by:
J MacDonald - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE VINE TRUST
Independent examiner's report to the trustees of The Vine Trust
I report to the charity trustees on my examination of the accounts of The Vine Trust (the Trust) for the year ended 31 January 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
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.
Richard Kyte FCCA
Richard Kyte Associates 126 Weyhill Road Andover Hampshire SP10 3BE
24 October 2024
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THE VINE TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 January 2024
| 31.1.24 | 31.1.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 717 | 927 | |
| Charitable activities | |||
| Shop Sales | 25,826 | 21,487 | |
| Total | 26,543 | 22,414 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Governance Costs | 864 | 744 | |
| Charitable activities | 29,836 | 27,194 | |
| Total | 30,700 | 27,938 | |
| NET INCOME/(EXPENDITURE) | (4,157) | (5,524) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 41,585 | 47,109 | |
| TOTAL FUNDS CARRIED FORWARD | 37,428 | 41,585 |
The notes form part of these financial statements
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THE VINE TRUST
BALANCE SHEET 31 January 2024
| 31.1.24 | 31.1.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 3 | 160 | 277 |
| CURRENT ASSETS | |||
| Stocks | 4 | 15,681 | 14,983 |
| Debtors | 5 | 74 | 267 |
| Cash at bank and in hand | 24,411 | 28,059 | |
| 40,166 | 43,309 | ||
| CREDITORS | |||
| Amounts falling due within one year | 6 | (2,898) | (2,001) |
| NET CURRENT ASSETS | 37,268 | 41,308 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 37,428 | 41,585 | |
| NET ASSETS | 37,428 | 41,585 | |
| FUNDS | 7 | ||
| Unrestricted funds | 37,428 | 41,585 | |
| TOTAL FUNDS | 37,428 | 41,585 |
The financial statements were approved by the Board of Trustees and authorised for issue on 24 October 2024 and were signed on its behalf by:
T Sleath - Trustee
The notes form part of these financial statements
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THE VINE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 January 2024
1. 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.
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.
Fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance Computer equipment - 33% on cost
Equipment with a purchase price of £100 or less is written off when the asset is acquired.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023.
continued...
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THE VINE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 January 2024
| 3. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 February 2023 | 432 | 1,538 | 1,970 | |
| Additions | 99 | - | 99 | |
| At 31 January 2024 | 531 | 1,538 | 2,069 | |
| DEPRECIATION | ||||
| At 1 February 2023 | 390 | 1,303 | 1,693 | |
| Charge for year | 8 | 208 | 216 | |
| At 31 January 2024 | 398 | 1,511 | 1,909 | |
| NET BOOK VALUE | ||||
| At 31 January 2024 | 133 | 27 | 160 | |
| At 31 January 2023 | 42 | 235 | 277 | |
| 4. | STOCKS | |||
| 31.1.24 | 31.1.23 | |||
| £ | £ | |||
| Stocks | 15,681 | 14,983 | ||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.1.24 | 31.1.23 | |||
| £ | £ | |||
| Trade debtors | 74 | 267 | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.1.24 | 31.1.23 | |||
| £ | £ | |||
| Trade creditors | 2,136 | 1,119 | ||
| Other creditors | 762 | 882 | ||
| 2,898 | 2,001 | |||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.2.23 | in funds | 31.1.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 41,585 | (4,157) | 37,428 | |
| TOTAL FUNDS | 41,585 | (4,157) | 37,428 |
continued...
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THE VINE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 January 2024
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,543 | (30,700) | (4,157) |
| TOTAL FUNDS | 26,543 | (30,700) | (4,157) |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.2.22 | in funds | 31.1.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 47,109 | (5,524) | 41,585 |
| TOTAL FUNDS | 47,109 | (5,524) | 41,585 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 22,414 | (27,938) | (5,524) |
| TOTAL FUNDS | 22,414 | (27,938) | (5,524) |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2024.
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