Company Registratlon No. N1613839 (Northern Ireland} ids: chartered occountants VINEYARD COMPASSION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG
VINEYARD COMPASSION ids chartered accountants CONTENTS Page Legal and administrative information Trustees, report Independent auditorfs report 9-11 Statement of financial activities 12 Balance sheet 13 Statement of cash flows 14 Notes to the financial statements 15-28
VINEYARD COMPASSION ids, chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr R Kelly MrA R Lynas Mr P R Lynas Mr D P Wright Mr N A Young Dr K C Hutchinson Secretary Mr P R Lynas Charlty number NIC100508 Company number Ni613839 Registered office 10 Hillmans Way Ballycastle Road COLERAINE Co Londonderry BT52 2ED Auditor IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG Bankers Danske Bank Ballymena Business Centre BALLYMENA Co Antrim BT43 5BY Solicltors Macaulay Wray 35 New Row COLERAINE Co Londondery BT52 1AH
VINEYARD COMPASSION ids. chartered occountants TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their annual report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Igoverning documentl, the Companies Act 2006 and 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 actlvltles The principal activity of the charity continued to be Ihe provision of social relief within the community. Vineyard Compassion is a charity based in Coleraine. We aim lo support people, "from crisis lo full potential" by providing practical support for the poor, whilst empowering them to tackle the underlying root causes of povety. Our catchment district is primarily the Causeway Coast and Glens Borough. However, our work with the Probation Board and Prison Service helps people from all over Northern Ireland. Our volunteers come from as fsr away as Belfast and Omagh. although most are local. Povety in this region is much higher than the Northern Ireland average wilh 27.5 % of people and 30.9 % of children living in poverty, Coleraine includes some of the most deprived wards in Northern Ireland. The most vulnerable people in our community are faced with a complex set of barriers such as long-term nemployment, family breakdown, homelessness, problem debt, mental health issues, ex-offending, low educational achievement and poor self-esteem. For many, these barriers are too big to overcome without support. This can lead to periods of destitution, when people go without the bare essentials such as a home, food, clothes and healing. Recognising the significant deprivation in the local area and motivated to support the most vulnerable in society, Vineyard Compassion was established. The charity lakes a multi-faceted approach to tackling povety. seeking to maximise the potential for lasting transformation. Its programmes are making a real difference. We have been privileged to see dignity and hope restored to thousands of vulnerable people who were trapped in cycles of poverty. The support Vineyard Compassion offers is available at no cost, to everyone in the community regardless of belief, sexual orientation. race or nationality. Vineyard Compassion's vlsion is lo have.. -a transformed and thriving community wheTr poverty is unacc8Ptable and UnGommon°. Vineyard Compassion's misslon in achieving our vision is to.. °provide people with financial, emotional or practical support at their point of need. while empow9ring them to t8ckle the underlying root causes of poverty.. The charity offers holistic support centred around three core themes. 1. PROVISION: we provide immediate financial, emotional or practical support at crisis points of need. For example, the provision of food, clothing, emotional support or debt counselling, where individuals lack the resource to meet their own needs. 2. EMPOWERMENT.. we empower people to tackle the underlying root causes of poverty. For example, teaching budgeting skills, building capacity within clients to break the cycle of poverty, moving from dependency towards greater independence. 3. EMPLOYMENT.. we support people on a journey towards employment that is fulfilling. We know that work is the best route out of poverty, not only providing financially, but building Confiden and self- esteem, improving mental health and providing greater community.
VINEYARD COMPASSION ids chartered accountants TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Staff assisted by a team of over 200 volunteers support the work. Many volunteers are former clients who are now in a position lo help others. We were delighted to receive the Queen's Award for Voluntary Senrice in 2018 acknowledging the tremendous contribution made by our volunteers in meeting community needs. The charity works alongside agencies and statutory bodies with the goal of tackling povety. It receives referrals from and signposts clients to these organisations for specialist support. These include govemment departments such as Health, Communities and Justice, the Probation Board, Prison Service. Housing Executive and local councils along with many charities including the Simon Community and St Vincent de Paul. Our activities Include.. The Open Door drop in café - this provides a gateway and befriending service to access all support services. Clients only have to enter ONE DOOR and go over their story ONCE Gompassion Support - the Compassion Support team connects with all new clients. Through tailor- made support plans guests are empowered to move beyond crisis point Causevlay Foodbank - provides emergency food and household essentials. Referrals corne from care professionals, We also operate a clothing bank called the Wearhouse RESET Soclal Supermarket - provides six months of low-cost food along with support services, courses and training to enable people lo reset their priorities of food, finance and future stability CAP Debt Centre- provides debt counselling, support and money management courses CAP Job Club - supports people to take steps towards employment The Link offers varied voluntary work placements designed to increase confi(Jence. skills and employability. One such placement is our Link Logs social enterprise. Some referrals come from the Probation Board for community service and prisoners on day release Grow allotment- gives opportunity for people to grow produce in a supportive environment improving mental health and promoting physical and social well-being Compasslon Houslng - provides short-term accommodation for homeless or at-risk people. Referrals corne from the Housing Executive, Social Services, Simon Community, Women'5 Refuge and Women's Aid. Vineyard Compassion's values supports people in a process of transformation from dependence to independence. The different values build upon each other.. you need worth to have hope. You need hope to have meaningful relationships. You need relationships to deal with Ihe range of complex issues in your life. You need a holistic solution to be fully &mpowered. Our values are as fo15ows: Worth - ALL people are welcome, are valuable and deserve lo be treated with dignity and respect. Hope we believe that there is hope for Ihe tUre for everyone, no matter how difficult the situation Tnight appear. Relationships - we believe individual growth and healing happen as we spend time in community with people who cafe about us. Holistlc- we recognise and seek to meet the needs of the whole person - financial, emotional, practical and spiritual - not just their presenting problem. Empowerment - we encourage people to develop skills that equip them to meet their own needs and break the cycle of povety - moving from a place of dependence to independence. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achlevements and performance 2022 was a difficult year for many people when prices of food, fuel and healing reached unprecedented levels. In response, we launched an autumn campaign called 'Help is Here, Hope is Here.. The campaign was desIed to raise awareness of all of our services and to send a message to our local comtnunity that help is available for anyone who needs it at this difficult time of rising living costs. In 2022, Vineyard Compassion supported 2457 clients {an increase of 650/c from 2021). Vineyard Compassion provided 16,535 support sessions to clients across all projects {an increase of 370/. from 2021) with 20,501 volunteer hours involved in or9anising and delivering this support.
VINEYARD COMPASSION ids chartered accountants TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Collaboration and working in partnership are key values for Vineyard Compassion to ensure thal clients receive the very best support. For this reason, Vineyard Compassion hosts and participates in several effective partnerships in the local area with various statutory agencies and communitylvolunlary organisations. In 2022, 92 partner agencies actively referred clients to Vin&yard Compassion. Vineyard Compassion seeks to avoid duplication in service provision whenever possible, and where gaps exist or current provision is un£ble to cope with demand, Vineyard Compassion looks for ways to launch projects that m&et genuine needs in a sustsinable and effective way. In a recent survey, 92 % of clients described Vineyard Compassion's support as °life transforming. or "a great help.. 97 % said since working wilh Vineyard Compassion they were 'hopeful'. 'more confident" and "able to face their problems.. Two clients surveyed stated-. °If it hadn't b8en for the help and support I received from Vineyard Comp8ssion, I would eilher be dead or in jail.. °The support I received has given light at th8 end of the tunnel. I'm making good progress With paying off my debts and improving my mental health" Flnanclal revlew The results for the year are sel out on page 12. The charity returned net incoming resources for the year of £198,392 {2021 net incoming resources of £66.027). At 31 December 2022 the total funds of the charity amounted to £1.648.945 (2021 - £1,450,553) comprising restricted fvnds of £215,865 (2021 £77,388), and unrestrictedldesignated funds of £1,433,080 (2021 £1,373,165). The spread of income by source is shown in the following graphs.. Inconie by Source {£OOOs) 500 450 400 350 300 150 2fJO ITrD SC, Indh. idual OrDaniMior Grènts Sttial Enterprse & Othpr Tradi Otlier 2022 • 2011
VINEYARD COMPASSION ids chartered accountants TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Inconie by Source 2022 Ind .}dUaL OrLYaniolons Grant5 '.al Eriterpr-se & Otlw Tradino OihEr Expenditure by Activity 2022 Link Lous CouBellnD Fcthlb4 HoiJ:. Debt Centre c(bal_Ferrna[ket Other Frojp(ts I SiJppJrt & Gernan Fundrdrln The principal risk faced by the charity continues to be the potential of receiving insufficient funds to continue its activities. The charity seeks to mitigate this risk in the following ways.. Unrestricted reserves are held which are sufficient to cover The conts'nuance of operations given a 25 % reduction in unrestricted and project income, for a perTod of 3-6 months, plus.. any specific liabilities which are outside of the normal scope of activities therever possible, projects are developed and structured to be self-sustaining and therefore have the potential to continue for the long term without external funding The charity is conlinuing to develop its fundraising strategy to continue to diversify core funding sources and therefore avoid any over-reliance on a small number of funders.
VINEYARD COMPASSION ids chartered accountants TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Total unrestricted res8rv@s (comprising of cash and debtors, less short-term liabilities) were £314.538 12021 £205,000) Based on the 2023 budget, the range of reserves considered by the tTUStees to be adequate las calculated above) is between £103K- £206K. Unrestricted reserves are currently above this range. Trustees have approved the purchase of investing in solar panels which will reduce the reserves by an expected £127k. Additionally. due to the seasonal nature of the Link Logs project, apPr0MatelY £40K is required lo build up stock during the year. Reserves at the end of the summer are therefore forecast lo be £167K less than at the year end. Plans for future periods Following the COVID pandemic, Vineyard Compassion has been developing various partnerships and collaborative projects. A key milestone was the initiation of an Anti-Poverty Network of which Vineyard Compassion is a founding member and one of the main delivery agents, This network was spearheaded by Causeway Coast and Glens Council with input from the Department for Communities Nl and is now chaired by Ricky Wright, Vineyard Compassion's Chief Exec. A detailed action plan has been developed which will be outworked in the years ahead. This will be a key emphasis for Vineyard Compassion, to work strategiTrlly in partnership with other local organisations with the shared goal of tackling poverty and social deprivation. A consortium has been created among neOrk members to offer holistic wraparound support to people in crisis, which was piloted in 2021 and has been Gontinued into 2022 and 2023. Vineyard Compassion piloted a new'mobile. support service in late 2021 to offer crisis support and signposting to rural locations where barriers to engagement are higher. The 'Mobile Open Door, dropin service has continued throughout 2022 and provides a needs assessment, emergency provisions (Foodbank}, Social Supermarket, one to one support and signposting to other services. We aim to review and evaluate its SUC$S during 2023 with the aim of expanding its service if feasible. During 2022 our supported housing project transitioned fomially into a new Emergency l Temporary Housing project in partnership with Northern Ireland Housing Executive. During 2023, this project will take significant focus of our senior staff team to develop the project, ensuring it will be sustainable financially, while effectively meeting the needs of clients who need crisis accommodation. We also be developed a new 'Outcomes I Impact Framework, to better identify the positive changes within people's lives that we support. This will help us to capture our impact and provide the most detailgj answer to hat does success look like?" for the organisation. This will be integrated into a new bespoke cliEmt case management IT system that will be developed and launched during 2023. We will also continue to grow and develop our Fundraising Strategy so that there is greater stability. We aim to secure mulli-year grants to give greater security in grant funding and widen the variety of our funders. We will also continue to develop the number and amount of our individual donations, while growing our social enterprises to form a larger percentage of our overall income. We are confident that these plans will be realised. Structure, governance and management Vineyard Compassion is a company limited by guarantee and was incorporated on 1 August 2012. The company was established under a Memorandum of Association which established the objectives and powers of the company and is governed by its Articles of Association. The liability of its members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up. The trustees, who are also the directors for the purpose of company law, and who seNed during the year and up to the date of signature of the financial statements were.. Mr R Kelly MrA R Lynas Mr P R Lynas Mr D P Wright Mr NA Young Dr K C Hutchinson
VINEYARD COMPASSION ids. Chartered accountants TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 New directors are appointed when appropriate. Suitable candidates are Considered on the basis of their skills, experience and sympathy with the airns of the charity. New directors will be agreed at a board meetng before being invited to join and will receive appropriate induction and relevant training. Trustees are responsible for setting the organisation's payscales following the NICVA malrix and benchmark and ensuring that these are adhered tc. Vineyard Compassion was birthed from Causeway Coast Wineyard church (CCV) and has the same trustees. We have a risk management assurance framework in operation. This covers areas such as safeguarding processes for children and vulnerable adults, staff training and development, health and safely for staff and public around the site as well as HR, IT and financial risks (covered by our reserves policy) Two of our board members sil on a risk management SCoMmIttee alongside the Operations Director. Any risks are raised, discussed and measures put in place to mitigate the risk. Risk is a standing agenda item on our board meetings and the risk management assurance framework is reviewed formally at the board meeting every six months. Reference and adminlstrative detalls The day-to-day management of the charity Is overseen by Ricky Wright (Chief Exec), David Mccracken (Operations Director) and Victoria Moore (Finance Manager}. Statèment of trustees, responsibilities The trustees, who are also the directors of Vineyard Compassion for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice) Company Law requires the trust*s to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of re sources, including the income and expenditure, of the Charitable company for that year. In preparing these financial slalements, the trustees are required to.. select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent-, and prepare the financial statements on the going concern basis unless it is inappropriate to presutYE that the Gharity will continue in operation. The twstees are responsible for keeping adequate accounting records that disclose with reasonable auraCY at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of traud and other irregularities. Auditor In accordance with the company's articles. a resolution proposing that IDS Chartered Accountants LLP be reappointed as auditor of the company will be pul at a General Meeting. Dlsclosure of informatlon to auditor Each of the trustees has confimed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and lo establish that the auditor is aware of such information. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption,
VINEYARD COMPASSION ids chartered accountants TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT} FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees, report was approved the Bo ofTrustees. Mr P R Lynas Trustee Dated. 14 September 2023
VINEYARD COMPASSION ids: chartered accountants INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF VINEYARD COMPASSION Opinlon We have audited the financial statements of Wineyard Compassion {the 'charity') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial stalemenls, including a summary of significant accounting policies. The financial reporting frarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Irgland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs a5 al 31 December 2022 and of Its total incoming reSoUrS and expenditure of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practits,. 8nd have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinlon We conducted our audit in accordance with Inlernalional Standards on Auditing (UKJ (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit ol the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial slalements, we have concluded that the trustees, use of the going concem basis of accounting in Ihe preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are desrJibed in the relevant sections of this report. Other informatlon The trustees are responsible for the other Information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon, Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial stalements or our knowledge obtained in the audit or othemise appears to be materially misstated If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard
VINEYARD COMPASSION ids- chartered accountants INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF VINEYARD COMPASSION Matters on whlch we are required to report by exceptlon We have nothing to report in respect of the following matters in relation lo which the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015 require us to report to you if, in our opinion.. the information given in the financtal statements is inconsistent in any material respect with the trustees, report., Of the charitable company has not kept adequate accounting records-, or the financial statements are not in agreement with the accounting records and retums,. or we have not received all the information and explanations we require for our audit. Responslbilities of trustees As explained more fully in the Statement of Truslees, Responsibilities, the trustees (who are also the directors of the charity for the purpose of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial stalemenls, the trustees are responsible for assesslng the charity's abllity to contlnue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate th& charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's responsibilitles for the audlt of the financial statements We have been appointed as auditors under section 65 of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act and regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi5Statement. whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstalement when il exists, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularitie5, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competen, capabilities and skills to identify or recognise non-compliance with laws & regulations., we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector. we focused on specific laws and regulations which we considered may have a direct material effect on thè financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, antibribery. employment, environmental and health and safety legislation., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 10-
VINEYARD COMPASSION ids: chartered accountonts INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF VINEYARD COMPASSION We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as lo where they considered there was susceptibility lo fraud, th8ir knowledge of actual, suspected and alleged fraud, considering the internal controls in place to miligale risks of fraud and non<ompliance wth laws and regulations., and performing analytical procedures lo identity any unusual or unexpected relationships: reviewing joumal entries to identify unusual transactions-, assessing whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias., investigating the rationale behind any significant or unusual transactions. In response to the risk of irregular6ties and non-compliance with laws and regulations, we designed procedures which included, bul were nol limited to.. agreeing financial statements disclosures to underlying supporting documentation., reading the minutes of meetings of those board of trustees., enquiring of management as to actual and potential litigation and claims., reviewing legal correspondence. There are inherent limitations in our audit procedures described above. The more removed laws and regulations are from financial transactions, the less likely it is that we would become aware of noTrcompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberale concealment or collusion. A further description ot our responsibilities is available on the FRC'S website athttpS'.I1.fr¢.Org.ukIaudllOrS/aUdlt- assurance-ethicslauditors-responsibilities-for-th&audit. This description forms part of our auditor's report Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports} Regulations (Northem Ireland) 2015. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Alison Wallace IDS Chartered Accountants LLP Statutory Audltor 23125 Queen Street COLERAINE Co Londonderry BT52 1BG 14 September 2023 IDS Chartered Accountants LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the CompaniesAct 2006. 11
VINEYARD COMPASSION ids. chartered accovntants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Restricted funds funds 2022 2022 Total Unrestricted Restrlcted funds funds 2021 2021 Total 2022 2021 Notes Inco Donations and legacies Charitable activities Other trading activities Investments 141,347 332,170 491,304 632,651 332.170 194,833 275,693 351,949 546,782 275,693 30,135 387 30,135 387 11,056 40 11,056 40 Total Incomo 504,039 491,304 995,343 481,622 351,949 833,571 ndl Raising funds 52,173 52,173 22,099 22,099 Charitable activities 391.951 352,827 744.778 372,848 372.597 745.445 Total expenditure 444.124 352.827 796,951 394.947 372,597 767,544 Net income for the yearl Net movement In funds 59,915 138,477 198,392 86,675 (20,648) 86,027 Fund balances at 1 January 2022 1,373,165 77,388 1,450,553 1,286,490 98,036 1,384,526 Fund balances at 31 December 2022 1,433.080 215,865 1,648,945 1,373,165 77,388 1,450,553 The slatemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 12-
VINEYARD COMPASSION ids Chartered occountants BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Flxed assets Tangible assels 13 1.031.441 1,060.579 Current assets Stocks Debtors Cash at bank and in hand 14 15 12,547 89,489 576.466 29,034 44.273 354,278 678,502 427,585 Credltors: amounts falllng due within one year 16 (60,998) (37,6111 Net current assets 617,504 389,974 Totsl assets less Current Ilabllitles 1,648,945 1,450,553 Income funds Restricted funds 18 215,865 77.388 Designated funds Gen8ral unrestricted funds 19 72,000 1,361,080 76,000 1,297,165 1,433,080 1,373,165 1.648,945 1,450.553 The company is entitled to the exemplion from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022, although an audit has been carried out under section 65 d the Charities Act (Northem Ireland) 2008. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 478. These financial statements have been prepared in accordance with the provisions applicabl8 to cornpanies subject to the small companies regime. The financial statements were approved by the Trustees on 14 September 2023 Mr R Kelly Trustee Mr P R Lynas Trustee Company registratlon number N1613839 13-
VINEYARD COMPASSION ids. chartered accountants STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Cash flows from operating activlties Cash g8nerated from operations 24 248.300 106,600 Investlng actlvities Purchase of tangible fixed assets Investment income received (24,499) 387 {48.057) 40 Net cash used in Investlng actlvltles (24,1121 148,017) Net cash used in financlng activitles Net increase Sn cash and cash equivalents 222.188 58,583 Cash and cash equivalents at beginning of year 354,278 295,695 Cash and cash equlvalents at end of year 576,466 354,278 Relating to: Cash at bank and in hand 576,466 354,278 14-
VINEYARD COMPASSION ids chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng policles Charlty Informatlon Vineyard Compassion is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 10 Hillmans Way, Ballycastle Road, COLERAINE, Co Londonderry, BT52 2ED. 1.1 Accountlng conventlon The financial statements have been prepared in accordance wrth the Charity's memorandum, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" {'FRS 102.) and the Charities SORP "Accounting and Reporting by Charities: Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}" {effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. 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 al fair value. The principal accounting policies adopted are sel out below. 1.2 Golng concern Al the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resour5 to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going conGern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in ftjrtherance of their charitable objectives unless the funds have been designated for other purposes. Designated funds comprise funds which have been sel aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted ftjnds are set out in the notes to the financial statements. 1.4 Incomlng resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recogni5ed on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral ofthe amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otheise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Tumover is measured al the fair value of the consideration received or receivable and represents amounts reIvable for goods and services provided in the normal course of business. 15
VINEYARD COMPASSION ids. Chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollci8S (ContTnued) 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Only assets with a value of £500 or mor8 are capitalised. Depreciation is recognised so as to writ@ off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures, fittings and equipment IT equipment and 50ftware Motor vehicles 20/0 slraighl line 15 % reducing balance 25 % straight line 250/0 reducing balance The gain or loss arising on the disposal of an asset is determined as the differen between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amounl of lh8 asset is estimated in order to determine the extent of the impairment loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflecls current market assessments of the lime value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amounl of the asset is reduced to ils recoverable amount. An impairment loss is recognised immediately in incomel {expenditure for the year. unles5 the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of ils recoverable arnount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairmenl loss is recognised immediately, unless the relevant asset is carried In at a revalued amount, in which case the reversal of the impaiment loss is treated as a revaluatDn increase. 16-
VINEYARD COMPASSION ids-. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overhead5 that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. Assets for distribution are recognised only when distributed, Assets given for use by the charity are recognised when receivable. Stocks of undistribuled donated goods are not valued for balan sheet purposes. 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowin9s in current liabilities, 1.10 Flnancial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceab5e right to set off the recognised amounts and there is an intention to settle on net basss or to realise the asset and settle the liability simultaneously. Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, are Initially measured at transaction price including Iransaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classlfied as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction. where the debt instrutnent is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised Debt instruments are subsequently carried at amortised cost, using the effective interest rate rnethod. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. DeCOgnItion of flnancial Ilabilities Financial liabilities ar8 derecognised when the charity's contractual obligations expire or are discharged or cancelled. 17-
VINEYARD COMPASSION ids: ¢hartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Contlnuedl 1.11 Taxatlon No provision is required for taxation as the cornpany is defined as a charity for taxation purposes. 1.12 Employee beneflts The cost of any unused holiday entidement is recognised in the period in which the employee's servlces are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably Committed lo terminate the employment of an employee or to provide termination benefits. 1.13 Retirement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which Ihe estimate is revised where the revision affects lY that period, or in the period of th8 revision and future periods where the revision affects both current and future periods. During the current financial year, no critical accounting estimates or judgements were made by the Directors. Donatlons and legacies Unrestrlcted Restrlcted funds funds general 2022 Total Unrestrlcted Restricted funds funds general 2021 Totsl 2022 2022 2021 2021 Donations and gifts 141,347 491,304 632,651 194,833 351.949 546,782 Donatlons and gifts Donations and grants Gift aid Coronavirus job retention scheme 126,752 14,595 491,304 618,056 14,595 172.608 18,705 351,949 524,557 18,705 3,520 3,520 141,347 491,304 632,651 194.833 351,949 546,782 18-
VINEYARD COMPASSION ids chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charltable a¢tlvltles 2022 2021 Resel subscription Housing benefit l Rent Portrush Road SeiCe charge Housing deposit scheme Textile recycling Clothing online Clothing site Household online Household site Counselling donations Create sales Service invoices Link logs {wholesale) Link logs (retail) Sale of equipment 9.085 95,196 5,345 1,210 2,648 280 8,159 8,187 63,018 2.910 1,180 5,102 2,688 2.716 665 7.379 15,891 1,820 228 40,545 89,428 62,555 53 112,675 47,133 21,037 950 332,170 275,693 Other tradlng a¢tivltles Unrestrlcted Unrestrlcted funds funds general general 2022 2021 Fundraising activities 30,135 11,056 Investments Unrestrlcted Unrestrlcted funds funds general general 2022 2021 Interest receivable 387 40 19-
VINEYARD COMPASSION ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ralslng funds Unrestricted Unrestricted funds funds general g@neral 2022 2021 undraisin and blici Compassion catering Advertising other fundraising costs Staff costs Support costs 1,686 1,648 216 33,143 15,343 566 1,365 187 14,461 5,460 Fundraising and publicity 52,036 22,039 Support costs 137 60 52,173 22,099 -20-
VINEYARD COMPASSION ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable a¢tlvltles 2022 2021 staff costs Supported housing Causeway foodbank CAP debt centre Link logs Social supermarket Compassion Support Compassion counselling Other projects 284,043 87,881 5,471 10,971 86.446 6,164 8,109 26,854 7,850 293,619 77,117 19,163 8,962 68,585 4,161 4,095 75,144 11,273 523,789 562,119 Share of support costs (see note 9) Share of governance costs {see note 9) 219,026 1,963 181,286 2.040 744,778 745,445 Analysls by fund Unrestricted funds - general Restricted funds 391.951 352,827 372,848 372,597 744,778 745,445 21
VINEYARD COMPASSION ids chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs Support Governance costs costs 2022 Support Governance costs costs 2021 Staff costs Depreciation Insurance Building Costs Printing, postage and stationary Other expenses Staff and volunteer costs 55,449 53,637 9,267 88,452 55,449 53,637 9.267 88.452 51.406 57,176 7,563 60,314 51,406 57,176 7,563 60,314 2,066 9,902 15,597 2,066 9,902 15,597 2,736 3.913 3,638 2,736 3,913 3,838 Audit fees 2,100 2,100 2,100 2.100 234,370 2,100 236,470 186.748 2,100 188,846 Analysed between Fundraising Charitable activities 15,344 219,026 137 1,963 15,481 220,989 5,460 181,286 60 2,040 5,520 183,326 234,370 2.100 236,470 186,746 2,100 188.846 Governance costs includes payments to the auditors of £2,100 for audit fees (2021- £2,100}. 10 Trustees None of the trustees received any rernuneration or benefits from the charity during the year. During the year persons connected to a trustee ofthe charity were paid £7,671 by virtue of their employment. 11 Employees The average monlhly number employees (excluding directors) during the year was.. 2022 Number 2021 Number 16 15 Employment Costs 2022 2021 Wages and salaries Social security costs Other pension costs 339,105 17,675 15.855 328,559 16.475 14,452 372,635 359,486
VINEYARD COMPASSION ids: chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2022 11 Employees (Contlnued) There were no employees whose annual remuneration was more than £60,000. 12 Taxatlon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objects. 13 Tanglble flxed assets Freehold land Ènd bulldings Flxtures, IT equipment Motor v8hlclgS fittings and and soffvlare gquSpmgnl Total Cost At 1 January 2022 Additions 1,014,901 154,169 7,299 38,394 10,400 51,392 6,800 1,258,856 24.499 At 31 December 2022 1.014,901 161,488 48,794 58,192 1,283,355 Depreclatlon and impairment Al 1 January 2022 Depreciation charged in the year 88.201 20,298 62,915 14,783 29 298 8,474 17,863 10.082 198,277 53,637 At 31 December 2022 108,499 77.698 37,772 27,945 251,914 Carrying amount At 31 December 2022 906,402 83.770 11.022 30,247 1,031.441 At 31 December 2021 926,700 91,254 9,096 33,529 1,060,579 14 Stocks 2022 2021 Raw materials and consumables 12,547 29,034 15 Debtors 2022 2021 Amounts falllng dua wlthln one year: Trade debtors Other debtors Prepayments and accrued income 58,563 24.565 6,361 12,535 12,977 18,761 89,489 44,273
VINEYARD COMPASSION ids: chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 16 Creditors: amounts falllng due wlthin one year 2022 2021 other taxation and social security Trade creditors Other creditors Accruals and deferred income 11,522 17,413 8,145 23,918 5,620 4,628 17,773 9.590 60,998 37.611 17 Retlrement beneflt schemes Defined contrlbutlon schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £15,855 {2021 £14,452). -24-
VINEYARD COMPASSION ids: chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2022 18 Restrlcted funds The income funds of the charity include restricted funds comprising the following unexpended balan$ of donations and grants held on trust for specific purposes.. Movement In funds Incoming Rgsources Balance at resources expendèd 31 December 2022 Balanco at 1 January 2022 29th May 1961 Anonymous Individual Donors Sainsbury's Fareshare Community Foundation Nl Department for Communities Sainsubury's Neighbourly Tudor Trust Illuminate Counselling Nl Housing Executive Benefact Trust TBF Thompson Trussell l ASDA Ardbarron Trust Black Santa Cash for kids Bryson Energy Causeway Coast & Glens Comic Relief CRT Danske Bank charity Garfield Weston Foundation Global Make Some Noise GMB Green Pastures Housing Ha5ifax M&S Groundwork UK Power Nl Probation Board Nl Rank Foundation Screwfix Foundation The Crowe Evangelical Trust Trussel Trust 3,290 38,992 827 1,559 16,825 1,000 2,667 2,826 2,500 (3,2901 (14,3821 (8271 (1,559) {61,7601 (1.0001 (17,840) (468) (48,576) (4,095) (970) (3,373) (9,060) (4501 (780) (5001 (10,243) (44.9301 (69,0241 (2,0001 {6,3401 (18.923} (1,0001 (1,5001 (soo> 62,063 86,673 58,330 13,395 25.000 9,827 2,358 20,924 45,905 67,000 50,000 970 3,373 2,060 7,000 450 2,100 1.320 500 10,243 45,130 69.024 2,000 10.000 30,000 1,000 1,500 4,614 1,000 500 1,000 7,350 20,000 10,000 1,000 5,000 200 3,660 11,077 4,114 1,000 {500} (1,000) (7,350) (7,308) (10,000) (1,000) (2,279) 12.692 2,721 77,388 491,304 (352,827) 215,865 -25-
VINEYARD COMPASSION ids- chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 19 Designated funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.. Movement in funds Balance at Re¥ources Balance at 1 January 2022 expgnded 31 December 2022 Repairs and replacements fund Site improvements 36,000 40.000 14.0001 32,000 40,000 76.000 14,000) 72,000 20 Analysis of net assets betwe8n funds Unrestricted Restricted funds funds 2022 2022 Total Unrestrlcted Restrlcted funds funds 2021 2021 Total 2022 2021 Fund balances al 31 December 2022 are represented by. Tangible assets Current assetsl(liabilities} 1,031,441 401,639 1,031,441 617,504 1,060.579 312,586 1.060,579 389,974 215,865 77,388 1,433,080 215,865 1,648.945 1,373,165 77,388 1,450,553 21 Financlal commitments, guarantees and contingent Ilabllities Certain grants received and receivable may become repayable to the funder if the charity is no longer able to meet the conditions under which they were awarded. Due to the nature of these contingencies, it is not possible to quantify the potential effect or give an indication of liming as to the liabilities that may arise. 22 OperatSng lease comrnltments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2022 2021 Within one year Between two and five years In over five years 100 400 1,100 100 400 1,200 1.600 1,700 -26-
VINEYARD COMPASSION ids. Chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 23 Related paty transactlons Remuneration of key management personnel The remuneration of key management personnel is as follows. 2022 2021 Aggregate compensation 35,212 32,659 Transactlons wlth related parties During the year the charity entered into the following transactions with related parties.. Included within expenditure on charitable activities were amounts tolalling £1,209 (2021 £6851 paid to Lynas Foodservice Limited, a company in which Mr Andrew Lynas is a director. The amoLsnt owing at the year-end and included in trade creditors was £40812021 £123). Included within charitable activities were amounts totalling £54,648 (2021 £19,816) received from Lynas Foodservice Limited, a company in which Mr Andrew Lynas is a director, The amount owed at the year-end and included in trade debtors was £41.546 (2021- £8,185). Included within expenditure on charitable activities were amounts totalling £5,128 12021 £2,304) paid to Fuelwise Network Limited, a company in which Mr Russell Kelly is a director. The amount owing at the year- end and included in trade creditors was £612 (2021 £3261. Included within shared services were amounts totalling £57,200 <2021 £50,400) paid to Causeway Coast Vineyard Church, a charity with the same directors. The amount owing at the year-end and included In accruals was £7.800 (2021- £nil}. Included within professional fees were amounts totalling £1,950 {2021 £nil} paid to Spark Coaching, a company in which Dr Karise Hutchinson's husband is a director. There were no amounts outstanding at the year end. Included within other debtors were amounts totalling £6.352 (2021 £nil ) for Love Christmas Grant owed from Causeway Coast Vineyard Church, a charity with the same directors. Included within other creditors were amounts totalling £837 {2021 £nil) for Love Ukraine Grant owed to Causeway Coast Vineyard, a charity with the same directors. Included within other creditors were amounts tota51ing £nil (2021 £12,360) owed to Causeway Coast Vineyard Church, a charity with the same directors. -27-
VINEYARD COMPASSION ids: chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 24 Cash generated from operations 2022 2021 Surplus for the year 198,392 56,027 Adjustments for.. Investment income recognised in statem&nt of financial activities Depreciation and impaiment of tangible fixed assets (387) 53,637 (40) 57,176 Movements in working capttal: Decrease in stocks (Increase) in debtors Increasel(decreasel in creditors 16,487 (45.216) 23,387 5,314 (19,690) [2,187) Cash generated from operations 248,300 106,600 25 Analysis of changes In net funds At 1 January 2022 Cash flows At 31 Decembèr 2022 Cash at bank and In hand 354,278 222,188 576,466 354,278 222,188 576,466 -28-