Charity registration number: 518863
The Vine Christian Trust
FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2023
https://devyroad.com/
The Vine Christian Trust
INDEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
The Vine Christian Trust
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023
| Trustees: Treasurer: Secretary: Charity Number: Charity Address: Charity Website: Independent Examiners: Bankers: Solicitors: |
Christopher Dodd Alun Rodney Johnson John Moffat Raymond Napthine (Chair to 1 July 2022) Michael Francis Rae (Acting Chair from 1 July 2022) Pablo Renjifo Reina Michael Francis Rae Raymond Napthine 518863 14 Devonshire Road Princes Park Liverpool L8 3TY https://devyroad.com/ Lifestyles Accountancy Limited 39 Kirklees Road Southport PR8 4RB Barclays Bank Plc 48-50 Lord Street Liverpool L2 1TD Brabners Horton House Exchange Flags Liverpool L2 3YL |
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Page 1 of 14
The Vine Christian Trust
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2023
The trustees submit their annual report and financial statements for the year ended 30 June 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (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)' (as amended for accounting periods commencing from 1 January 2019) in preparing the annual report and financial statements of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is a Charitable Trust which was registered on 26 June 1987. It is governed by its Deed of Trust dated 6 April 1986. The Charity is also a member of the Evangelical Alliance.
Recruitment and appointment of the trustees
The board seeks to achieve a balance of skills and experience amongst the trustees. In order to maintain this, the board reviews its skill and experience mix each year and seeks to recruit new trustees when necessary.
According to the Deed of Trust, trustees are to be appointed by the Elders of the church, unless there are less than two elders, in which case the statutory powers of appointment are to be applied. The last time new trustees were appointed the Chairman put forward suggestions, which were discussed by the Trustees and the Elders at a meeting. Having made a decision, the Trustees then invited those persons to become trustees.
In appointing trustees due consideration is given to ensuring that the trustees have, between them, the skills and experience necessary to manage the Charity effectively and in accordance with Charity law.
Trustee induction and training
The current board of trustees will provide any new trustee with an overview of the timetable of board meetings, copies of the recent minutes of meetings, the recent reports and accounts and explains their general and specific responsibilities.
Ongoing training is provided by the board of trustees as and when the need arises.
Elders
Elders of the Charity are those individuals who have been given responsibility to run the day to day operation of the Charity, in consultation with the trustees, but are not themselves trustees. The elders who served during the year up to the date of this report were:
Mark Lewis John Moffat Peter Moffat Bill Tonge
Page 2 of 14
The Vine Christian Trust
TRUSTEES' REPORT (continued)
FOR THE YEAR ENDED 30 JUNE 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
Risk management
The trustees are aware of the major risks to which the Charity is exposed to and have plans in place to mitigate these as far as possible. A full risk review is planned by the trustees to ensure that all known risks continue to be mitigated as effectively as possible.
OBJECTIVES AND ACTIVITIES
Objects of the charity
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.
The overall purpose of the Charity is the advancement of the Christian faith chiefly through evangelism, church meetings and missionary support.
This is achieved through a number of means, including evangelism, pastoral care and counselling, promoting Christian doctrine, relieving persons in need, providing meetings, equipment and other means of support for these activities. The Charity exists to support the Church in spreading the Gospel of Jesus Christ by organising meetings, distributing Christian literature, films, etc. and to support people in times of their spiritual need. It also exists to perform charitable acts and services along with provision of public meetings. Leaflet, Bible distribution, outdoor meetings and involvement in the community, school activities, and retirement homes is carried out informally by groups in the church when opportunity arises.
ACHIEVEMENTS AND PERFORMANCE
Because of the Covid 19 Pandemic, some meetings and conferences have continued via Zoom but Sunday morning meetings have resumed in person. The Cloverley Hall Conference resumed in April 2022 and the Summer Conference at Quinta in August 2021.
Church business meetings were held as necessary to inform members of all activities and to discuss Church business. Trustees meetings were also held as necessary or communication made by email between Trustees. Some of these meetings have been via Zoom.
Page 3 of 14
The Vine Christian Trust
TRUSTEES' REPORT (continued)
FOR THE YEAR ENDED 30 JUNE 2023
FINANCIAL REVIEW
Financial review of the year
In the year to 30 June 2023 income of £140,489 was received (2022 - £88,417). Costs during the year totalled £123,869 (2022 - £94,302) which generated a surplus throughout the year of £16,620 (2022 - £5,885 deficit).
Principal funding sources
The major source of income for the charity has come from donations from individuals who are members of the church and the associated gift aid tax reclaims on those eligible donations.
Grant Making Policy
The Charity gives regular financial support to people who have been members of the church and have gone to work as missionaries abroad. Additional gifts are also sometimes given to these people to support a particular aspect of their work. One off gifts are also given to visiting speakers where the church feels it would like to financially support the work of the speaker. All the work supported by the charity involves promoting the Gospel of Jesus Christ.
Reserves policy
The Charity’s policy on reserves is to generate and maintain a balance which is sufficient:
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to preserve the financial viability of the Charity in the event that unforeseen and/or
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= unavoidable circumstance precipitate a short-term fall in its income; and
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to enable the Charity, in the interests of meeting its objectives, to undertake from time to time the setting up of new and innovative projects on a pilot basis to demonstrate the
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= viability and potential benefits of such activities as a precursor to securing the external funding necessary to maintain such projects on an on-going basis.
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to cover the unexpected repairs necessary on the buildings from which the Charity
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= operates which are very old.
For these purposes the Charity will endeavour to generate and maintain unrestricted free reserves which are at least equal to 6 months of its annual expenditure.
As at 30 June 2023, 6 months expenditure was calculated to be £61,935, whilst the amount held in free unrestricted reserves was £89,108. The trustees appreciate that this level is in excess of what is immediately needed but is deemed appropriate given the age of the property and the level of possible ongoing repair and maintenance needed. The trustees keep the balance held in reserves under review.
Page 4 of 14
The Vine Christian Trust
TRUSTEES' REPORT (continued)
FOR THE YEAR ENDED 30 JUNE 2023
FINANCIAL REVIEW (continued)
Remuneration of Trustees
All trustees act in a voluntary capacity and receive no remuneration or other material benefits from their services to the Charity. Out-of-pocket expenses necessarily and reasonably incurred by trustees in promoting the purposes of the Charity are reimbursed at cost.
PLANS FOR FUTURE PERIODS
General plans
The Charity will continue its operations throughout the year, with a view to further its objectives. The Trust seeks to make provision for the future needs of the Church, both in respect of the maintenance of the buildings and the spiritual well being of the members of the Church.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
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a. select suitable accounting policies and apply them consistently;
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b. observe the methods and principals in the Charities SORP;
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c. make judgements and estimates that are reasonable and prudent;
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d. state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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e. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
This report was approved by the board of trustees on 20 October 2023 and signed on its behalf by:
……………………………… Michael Francis Rae - Acting Chair of Trustees
Page 5 of 14
The Vine Christian Trust
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE VINE CHRISTIAN TRUST
FOR THE YEAR ENDED 30 JUNE 2023
We report on the financial statements of the charity for the year ended 30 June 2023, which are set out on pages 7 to 14.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
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(i) examine the accounts under section 145 of the Charities Act,
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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(iii) to state whether particular matters have come to our attention.
Basis of independent examiner's statement
Our examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
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a) which gives us reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- b) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Daniel Styles (Independent examiner)
Dated: 8 November 2023
for and on behalf of Lifestyles Accountancy Limited
Page 6 of 14
The Vine Christian Trust
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2023
| Unrestricted Restricted Total funds funds funds 2023 2023 2023 Notes £ £ £ INCOMING RESOURCES Incoming resources from generated funds: Voluntary income: Donations and gifts 2 62,910 47,777 110,687 Legacies 2 12,406 - 12,406 Miscellaneous 2 150 - 150 Investment income 3 17,246 - 17,246 TOTAL INCOMING RESOURCES 92,712 47,777 140,489 RESOURCES EXPENDED Charitable activities 4 75,012 47,927 122,939 Governance 5 930 - 930 TOTAL RESOURCES EXPENDED 75,942 47,927 123,869 16,770 (150) 16,620 Fund balances at 1 July 2022 259,793 1,305 261,098 Fund balances at 30 June 2023 276,563 1,155 277,718 NET INCOMING RESOURCES FOR THE YEAR |
Total funds 2022 £ 74,626 - - 13,791 88,417 93,562 740 94,302 (5,885) 266,983 261,098 |
|---|---|
The notes on pages 9 - 14 form part of these financial statements.
Page 7 of 14
The Vine Christian Trust
BALANCE SHEET
AS AT 30 JUNE 2023
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors and prepayments 8 Cash at bank and in hand CURRENT LIABILITIES Creditors and accruals 9 NET CURRENT ASSETS TOTAL NET ASSETS FUNDS Restricted funds Unrestricted funds TOTAL FUNDS 10 & 11 |
Total funds 2023 £ 187,455 187,455 16,668 74,128 90,796 533 533 90,263 277,718 1,155 276,563 277,718 |
Total funds 2022 £ 192,353 192,353 15,634 55,822 71,456 2,711 2,711 68,745 261,098 1,305 259,793 261,098 |
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Approved and signed on behalf of the board on 20 October 2023 by:
……………………………… Michael Francis Rae - Acting Chair of Trustees
The notes on pages 9 - 14 form part of these financial statements.
Page 8 of 14
The Vine Christian Trust
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
1 ACCOUNTING POLICIES
a Basis of preparation
The financial statements have been prepared in accordance with “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)” (as amended for accounting periods commencing from 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 applying FRS 102 Update Bulletin 1 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
b Fund accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds are unrestricted funds which have been set aside by the trustees for particular expected future expenditure in furtherance of the general objectives of the charity.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements where relevant.
c Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. No amounts are included in the financial statements for services donated by volunteers.
d Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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 the resources.
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The Vine Christian Trust
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2023
1 ACCOUNTING POLICIES (continued)
e Fixed assets and depreciation
- Tangible fixed assets costing more than £500 are capitalised and included at cost including and incidental expenses of acquisition.
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:
| Freehold property | 0% reducing balance |
|---|---|
| Equipment | 20% reducing balance |
| Fixtures and fittings | 15% reducing balance |
| Motor vehicles | 25% reducing balance |
| Worship books | 10% straight line |
2 VOLUNTARY INCOME
| Donations and gifts: Donations received Gift aid tax recoverable Legacies: Legacies received Miscellaneous income: Energy rebate Rental income Bank interest received INVESTMENT INCOME |
Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 47,675 47,777 95,452 15,235 - 15,235 12,406 - 12,406 150 - 150 75,466 47,777 123,243 Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 17,036 - 17,036 210 - 210 17,246 - 17,246 |
Total funds 2022 £ 64,485 10,141 - - 74,626 Total funds 2022 £ 13,776 15 13,791 |
|---|---|---|
3 INVESTMENT INCOME
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The Vine Christian Trust
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2023
4 COSTS OF CHARITABLE ACTIVITIES
| Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ Mission costs: Grants and donations given 19,425 47,927 67,352 Visiting speakers 850 - 850 Youth work 355 - 355 Sunday school / creche 10 - 10 Outreach 66 - 66 20,706 47,927 68,633 Property costs: Repairs and maintenance 7,949 - 7,949 Insurance 3,969 - 3,969 Council tax and water rates 10,444 - 10,444 Electricity and gas 16,951 - 16,951 39,313 - 39,313 Support and administration costs: Telephone and internet 1,576 - 1,576 Vehicle and travel expenses 2,691 - 2,691 Computer costs 3,819 - 3,819 Bank charges 342 - 342 DBS check fees 255 - 255 Depreciation 4,898 - 4,898 Loss on disposal of fixed assets - - - Sundry expenses 1,412 1,412 14,993 - 14,993 75,012 47,927 122,939 |
Total funds 2022 £ 47,374 800 547 220 56 48,997 7,291 2,662 9,968 11,596 31,517 1,331 3,958 186 229 248 5,954 116 1,026 13,048 93,562 |
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The Vine Christian Trust
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2023
5 GOVERNANCE COSTS
| Independent examination Legal and professional fees |
Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 100 - 100 830 - 830 930 - 930 |
Total funds 2022 £ 740 - 740 |
|---|---|---|
6 TRUSTEES REMUNERATION
No trustee received any remuneration throughout the year.
7 TANGIBLE FIXED ASSETS
| Freehold Land Furniture & & Buildings Equipment £ £ 163,791 97,246 Depreciation At 1 July 2022 - 69,809 Charge for year - 4,617 At 30 June 2023 - 74,426 Net book value At 30 June 2023 163,791 22,820 At 1 July 2022 163,791 27,437 8 DEBTORS AND PREPAYMENTS Income tax recoverable Prepayments At 1 July 2022 & 30 June 2023 Cost or valuation |
Motor Vehicle £ 2,000 875 281 1,156 844 1,125 2023 £ 15,235 1,433 16,668 |
Total £ 263,037 70,684 4,898 75,582 187,455 192,353 2022 £ 10,141 5,493 15,634 |
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The Vine Christian Trust
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2023
9 CREDITORS AND ACCRUALS
| Trade creditors Accruals Unrestricted Restricted funds funds 2023 2023 £ £ Current assets 277,096 1,155 Current liabilities (533) - 276,563 1,155 ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2023 £ 342 191 533 Total funds 2023 £ 278,251 (533) 277,718 |
2022 £ 920 1,791 2,711 Total funds 2022 £ 71,456 (2,711) 68,745 |
|---|---|---|
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
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The Vine Christian Trust
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2023
11 RESTRICTED FUNDS
| Missionary Support | Balance at Incoming Resources 1 Jul 22 Resources Expended £ £ £ 1,305 47,777 (47,927) 1,305 47,777 (47,927) |
Balance at 30 Jun 23 £ 1,155 1,155 |
|---|---|---|
The restricted funds received as shown above represent donations made from church members for specific missionaries and organisations to which the charity passes to the intended recipient on a monthly basis.
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