COMPANY REGISTRATION NUMBER N1053755 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Charlty Number NIC 101450
NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 JANUARY 2024 CONTENTS PAGE Members of the Board and professional advisers Directors, Annual Report Independent 8xaminer's report to the members Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statement 10 The following pages do not form part of the flnancial statements Detailed statement of financial activities 18
Page 1 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Registered charity name New Wine Ireland Charlty registration number NIC101450 Company number N1053755 Registered office First Floor 103 -113 Ravenhill Road Belfast BT6 8DR Directors Rt Revd D A Mcclay Mrs H M Mcclay Rev Canon J R Heaney Ven J M Harvey Rev Prebendary J S H Coles Rev T R West Mr B J O'malley Rev H Blair Mrs Pauline McDonald Mr Neal Myers Mrs Aliyah Quinn Secretary Mr B J O'malley Independent examlner GMCG Chartered Accountants 17 Mandeville Street Portadown County Armagh BT62 3PB
Page 2 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT YEAR ENDED 31 JANUARY 2024 The directors have pleasure in presenting their report and the financial statements of the charlty for the year ended 31 January 2024. The directors have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the cliarity. The finl¢la1 statements have been prepared iii accordance with the accountiiig policies set out iii notes to th¢ financial statements and comply ividi the charity's governing documcnL Companies Act 2006, Cliarities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern li'eland) 2015 and SORP (FRS 102). REFERENCE AND ADMINISTRATIVE DETAILS Reference and administrntive details are sllown in the schedule of meinbers ofthe board and professional advisers on page l of the financial statements. THE DIRECTORS The dir¢ctors of the chitable company are its trustees for the purpose of Charity law. The directors vi,ho served the company diiring the year ld ivere directors at the date of approval of the DÉrectors' kninual Report iyere as folloii's: Rt Revd D A Mcclay Mrs H M M¢Clay Rev Canon J R Heaney Ven J M Harvey Rev Prebeiidarv J S H Coles Rev T R West Mr B O'malley Rev H Blair Mrs Pauline McDonald Mr N¢al Myers Mrs Aliyah Quinn PUBLIC BENEFIT STATEMENT The directors of Nelv Wine Ireland confimi that they have had due regard for the guidance on Public Benefit by the Charity Commission for Northern Ireland and are pEeased to report that during the year the charity contiiiued to provide the Public Beiiefits through programines and services we offer. In particular, the directors consider hoNv plwined activities will contribute to the aims and objectives thev have sct. Public Benefit: Actively promote the advance of the Christian religion in the United Kingdom and throughout the world. Th¢ direct benefits ivliicli floNv from this purpose include an overall moral improveinent in society as more coniinunities have churches that are praying for the sick, feeding the poor and loving God and our neighbour practically delivered through the presentatioii and t¢achiiig of the Christian Faith and through promoting uiiderstanding, practÉc¢ ]d groNrfI of the Christian Faitli. lliese benefits are demonstiated through feedback from chiirches and communities.
Page 3 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (continued) YEAR ENDED 31 JANUARY 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document New Wine IrcEand is a charitable company limited by guarantec and does not have any sliar¢ capital. It was incoworated on 31 January 2005 and registered as a charity ivith The Charitir Commission for Northem Ireland on 30 April 2015. bi the eveiit of the company bellig wound up members are required to contribiite an amount not exceeding £1. Reci'uitment, appointment, induction and training The directors regularK51 review tli¢ requirements ofthc charity and the possibility of a n¢ed for additional directors. Three new appointnients Nvere made this )Tear on tliis basis. Neiv directors were appointed bs, resolution of a ineeting of all the directors passed by a majority of those present. Appropriate tralliing and induction is available to all dir¢ctors and regularly updated. Risk management The directors have assessed the major risks to which the charity is exposed, in particular tliose lated to the operations and finances of the Trust, and are satisfied that syst¢ms are in place to mitigate an exposure to major risks. Where appropriate, systems or procedures have beei) established to niitigate the risks the charity faces. Internal control risks are minimised by the iiiiplenientation of procediires for authorisation of all transactions and projects. Procedures are in pl to ensure compliance MTith health and safety of staff, volunteers, clients and visitors. These procedures are periodically reviewed at Icast annually to ensure that they continue to meet the needs of the charity. Organisation Strnctures The directors oversee the running of the organisation. OBJECTIVES AND ACTIVITIES The objectives and principal activities of the charity are the advancement of the Chiistian religion iii the United Kiiigdom and throughout tlie ivorld, and the carrying on of such activities in thrtherance of the objectives, but not otherwise, by presenting ]d teacliiiig of the Christian faith and promoting the undeistanding, practice and groN*th of that faith and related means. We provide training and resourcing for local churches in four main aaS.. - Pra)qng for tlie Sick, Hearing God's Voice, Worship and Raising a Generation (kids and Jiouth work}. We do this by nlllliing b2ining events for the ivhole church. We provide traiiiing and support for church leaders. We send voluiitcer teanis to support tlie ivork of local churches on a one off or regular basis, We aiTange long tem volwiteer placen]eiits (part time and full time). We run an anniial suminer holiday conference MThere people from all over Ireland gadier for a week of ivorship, ministry and teaching. We facilitate a distance leaming course to provide training in evangelism. Fees are charged for most of tlie traiiiing days, suniiner conference and coiirses. These are set at the lowest possible prices to cover costs and still be accessible to as many people as possible. We offer free places to people in special circuinstances and direct people to various sources of funding if applicabl¢. We do everytliing we can to strengthen and rene14, local churches and to see neiv churches planted. Volunteers The cliarity is grateful for the unstinting efforts of its voluijteers who are involved in all aspects of the charity's IlTork.
Page 4 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (continued) YEAR ENDED 31 JANUARY 2024 ACHIEVEMENTS AND PERFORMANCE Total income for the siear amounted to £298,137 {2023 £283,670). Inconie derived from donations and legacies amounted to £105,605 (2023 - £129,986), income from charitable activities amounted to £191,192 (2023 £153,651), income from investiiients amounted to £1,340 (2023 £123) and other income amounted to £NIL (2023 - £NIL). Total expenditure for the )7ear amounted to £251,580 (2023 - £240,415). The cost of chitable activities amounted to £251,580 (2023 - £240,415). The nct incom¢ for the year amounted to £46,557 (2023 - £43,345). Reserves policy It is the policy of the charity to maintain free reserves M,hich matches the needs of the trust, both at the curreiit time and the foreseeable fiJtur¢. This provides sufficient funds to cover running costs ivhich include management, administration and support Costs. Free reserves are those unrestricted reserves not d¢signed nor invested in fixed assets ivhich are available for general use. Funding The principal funding is from donations. PLANS FOR FUTURE PERIODS N¢w Wine Ireland plan to take our training and programmcs increasingly across the island of Ireland. As well as our focus confereiice ¢vent in Sligo and all our current activities, we arc launching a new leadees network ivhich gathers every 6 weeks and are plawiiiig missions and miiiisty iii all four provinces. We contirtue to look to individuals, churches and trusts to support the work financially as well as seeking to generate our income from events where possible. RESPONSIBILITIES OF THE DIRECTORS The trustees (Ivho are also the directors of Neiv Wine Ireland for the purposes of company law) are responsible for preparing the Directors, Annual Report ld the financial statements in accordance 14Tjth applicable law and United Kingdoin Accounting Standards (United Kingdom Generally Accepted Accouiiting Practice) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" The law applicable to charities in Northem Ireland requires the directors to prepare financial statements for each fiijancial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and applicatioii of resources, including the income and expeiiditure, of the charitable company for that period. In preparing thesc finl¢la1 statements, the directors are requir¢d to.. select suitable accountiiig policies ]d then apply them coiisistentl} observe the methods and principles iii the Charities SORP 2015 (FRS 102)" make judgemeiits and accouiiting estimates that ar¢ reasoiiabl¢ ]d prudeiit. state ii,hether applicable UK Accountiiig Standards have been followed, subject to any material departures disclosed and explained in the financia] statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that tlie charitable company wiIl contlliue iii operation.
Page 5 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE DIRECTORS, ANNUAL REPORT (contlnued) YEAR ENDED 31 JANUARY 2024 RESPONSIBILITIES OF THE DIRECTORS (continued) The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the fiiiancial position of the charitable company and enable them to ensure that tlie financial statements coinply with the Companies Act 2006, Charities Act (Nortliem Ireland) 2008 and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. The directors are also responsible for safeguardiiig the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate financial inforniation included on the charitable company's website. Legislatioii in the United Kingdom governing tlie preparation and dissemiiiation of financial statements may differ froni legislation in other jurisdictions. In so far as the directors are aware: there is no relevant infomiation of which the charitable company's independent examiner is unaware. and th¢ directors have taken all steps that they ouglit to have taken to inake themselves aware of any relevant infomation and to cstablish that the independent examiner is aware of that Ènfomiation. INDEPENDENT EXAMINER GMCG Cl)artered Accountants has been appointed as independent examincr for the ensuing year. SMALL COMPANY EXEMPTIONS This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Registered office: First Floor 103-113 Ravenhill Road Belfast BT6 8DR Signed by order of the tmstees Mr Basil J O'M Company Secre Date..
Page 6 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF NEW WINE IRELAND YEAR ENDED 31 JANUARY 2024 report on the accounts of the charity for the year ended 31 January 2024 as set out on pages 7 to 17. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The charity's trustees (who are also the directors of New Wine Ireland for the puOseS of company laiv) are responsible for the preparation of tlie accounts in accordance with the requirements ofthe Companies Act 2006. Having satisfied myselfthat tlie charity is not subjectto audit under company laiv and is eligible for independent examination, it is my responsibility, to.. examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. follow the procedures laid down in the general Directions given by the chlty Commission for Northem Ireland under section 65(9)(b) of the Charities Act; and state whether particular matters have come to my attention. BASKS OF INDEPENDENT EXAMINER'S STATEMENT I have examined your charity accounts as requir¢d under section 65 of the Charities Act any my examination was carried out in accordance with the general Directions given by the charity Commission for Northem Ireland under section 65(9)(b} of the Charities Act. The examination included a revieiv of the accountillg records kept by the charity and a comparison ofthe accounts presented Hpith those records. It also iiicludes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters havc come to my attention giving me cause to believe: l. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 2. That the accounts do not accord i¥ith those accounting records 3. That the accounts do iiot comply ivith the accounting requirements of section 396 of the Companies Act 2006 a]id ivith the methods and principles of the Charities Statement of Recommended Practi¢¢ appltcable to charities preparing their accounts in accordance ivith the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland. 4. Tljat there is further iiifonnation needed for a proper understanding of the accounts to reached. I have completed my examination and have no concenis iii r¢spect of matters ( l) to (4) listed above and. in connection with following the directlons of the Charity Commisslon for Northern Ireland, I have found no matters that require drdiving to your attention. cCd'6 C M Mccarter FCA (Independent E?&aminerj Chartered Accountaiits Ir¢land For and on behalf of GMCG Chart¢red Accountants 17 Mandeville Street Portadoivn County Annagh BT62 3PB Date.. 11- LU¥-
Page 7 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 JANUARY 2024 2024 2023 Unrestricted Restricted Funds Funds Note Total Total Income from: Donations and L¢gacics Charitable activiti¢s Investments 85,605 191,192 l?40 20,000 105,605 191,192 lJ40 129,986 153.651 123 Total income 278,137 20,000 298,137 283,760 Expenditure on: Charitable activities Otlier 516 (245,235) (245,235) (6,345) (240,415) (6,345) Total expenditure (24S,235) (6,345) (251,S80) (240,415) Net income l (expenditure) 32,902 13,655 46,5S7 43,345 ReconcRliation of funds: Total funds brought fonvard 116,724 116,724 73,379 Total funds carried forward 149,626 13,655 163,281 116,724 The Statemeiit of Financial Activities includes all gains and losses in the year. All of the above amounts relate to continuing activities. The notes on pago8 10 to 17 fowm part of these financial Statements.
Page 8 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE BALANCE SHEET 31 JANUARY 2024 2024 2023 Note Fixed assets T]gible assets 483 966 Current assets Debtors Cash at bank 13 7,407 203,906 211,313 (48,SlS) 15,494 139,890 155,384 {39,626) Creditors: Amounts falling due within one year 14 Net current assets 162,798 115,758 Total assets less current liabilities 163,281 116,724 116,724 Net Assetsl(liabilities) Charity funds Unrestricted funds Restricted fimds 163,281 16 17 149,626 13,655 116,724 Total funds 163,281 l 16,724 These accounts have be¢n prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with Charities SORP (FRS 102). The directots are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for die year by virtue of sectioii 477(2) relating to small companies, and tliat no member or mcmbets have requested an audit pursuant to sectÈon 476(1) of the Act. The directors acknowledge their responsibilities for: (i) ensuriiig that the company keeps adequatc accounting records which comply with section 386 of thc Act, and (li) preparing financial statemeiits ivhich give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of section 393, and which othenvise comply with the requirements of the Act relating to financial statements, so far as applicabl¢ to the company. These fancial statements iiyere approved by the meinbcrs of the cominittec on the . and are signed on their behalf by.. RT REVD D A MCCLAY Director Date.. EN EY /s-_10-2cg Director Date...... Company Registration Number: N1053755
Page 9 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS 31 JANUARY 2024 2024 2023 Note Cash flow from operating activities Net cash flow from operating activities Cash flow from investing activities Interest from investments Payments to acquire tangible fixcd assets Net cash flow from investing activities 18 62,676 62,676 47,961 47,961 l?40 123 (1,449) (1,326) 1,340 Net increase in cash and Cash equivalents 64,016 46,635 Cash and cash equivalents at l February 2023 139,890 93,255 Cash and cash equivAlents at 31 January 2024 203,91 139,890 Cash and cash equivalents consist of - Cash at bank and in hand 203,906 139,890 Cash and cash equivalents at 31 January 2023 139,890 93,255
Page 10 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLICIES General information and basis of accounting New Wine Ireland is a charitable company limited by guarantce and does not have any share capital. It registered as a charity ivith The Charity Cominission for Northern Ir¢land on 30 April 2015 and it is incorporated iii North¢m Ireland. The address of the registered office is given in the charity infomiation on page l of these financial statements. The charitsble company constittites a public benefit entity as defined by FRS 102. Statement of compliance The financial statements have been prepared in compliance with Accounting and Reporting by Charities: Statemeiit of Reconimended Practice applicabl¢ to charities prepariiig their accounts in accordance with the Financial Reporting Standard applicable iii the United Kingdom and Rcpublic of Ir¢land (FRS 102), the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the Companies Act 2006 and UK Generally Accepted Practice &s it applies from l January 2015. The fiiiancial statements are prepared on a going concem basis under the historical cost convention, modified to include cetsin items at fair value. The financial statements are prepared in sterling which is the nctiOnal currency of the charity and rounded to the nearest £1. The significant accounting policies are set out below. The directors consider that thes¢ accounting policies are suitable, have been consistentl}T applied and are supported by reasonable and prudent judgement and estimates. Fund accounting- unrestricted funds The company's unrestricted funds consist of a General Fund which is expendable at the dISction of tlie directors in furtherance of the charitable objects of the company. The directors may at their discretion designate funds for specific pury)oses but the designation does not legally restrict the directors, discretion to apply the funds. Income recognition All income is included in tli¢ Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any perfonnance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified ofthe amounts and the settlement date in ivriting. If there arc conditions attached to the donatioii and this requires a level of peifomiance before ¢ntitEem¢nt can be obtained then income is deferred until those conditions are fully met or the lfilment of those conditions is ivithin the control of the charity and it is probable thatthey will be fulfilled. Donated facilities and donated professional services are recognised in incom¢ at their fair value wlien their economic benefit is probable, it can b¢ measiired reliably and the charity has control over the item. Fair vaKu¢ is deterniined on the basis of the value of the gift to the charity. For example the amount tli¢ charity would be willing to pay in the open market for such facilities and services. A correspondiiig amowit is recognised in expenditure.
Page 11 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 JANUARY 2024 ACCOUNfING POLICIES (conÉinued) Income recognition (continued) No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Directors, Amiual Report. Where practicable, gifts in kind donated for distribution to the beneficlaries of the charity ar¢ included in stock and donations in the financial statements upon r¢ceipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a compoiient of donations when it is distributed and an equivalent amount recogiiiscd as charitable cxpcnditure. Voluntary income received by way of donations and gift is credited to revenue on a receivable b&8is. Fixed asset gifts in kind are recognised when receivable and are included at fair value. The)r are not deferred over the lifc of the ass¢t. For legacies, entitlement is the earlier of the charity being notified of an impending distribirtion or tlie legacy being received. At this point income is recognised. On ocwion legacies will be notified to the charity hoivever it is not possible to measure the amount cxpected to be distributed. On these occasioiis, the legacy is treated as a contingent asset and disclosed. hivestment income is interest eamed through holding cash at bank. Intcrest incoine is recognised when receivable. Expenditure recognition All expcnditurc is accounted for on an accruajs basis and lias been classified under headings that aggregate all costs related to th¢ category. Expenditure is recogniscd where diere is a Eegal or constructive obligation to make payments to third parties, it is probable that the scttlement will be required and the amount of the obligation can be measured reliably. Where costs cannot bc directly attributed to a particular heading they have been allocated to activities on a basis consistent ivith the use of the resources. Staff costs and overhead expenses are allocated to activities oil the basis of staff tllne speiit on those activities. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Fund-raising costs are thosc Incued in seeking voluntary contributions ]d do not include the costs of disseminating infonnation in support of the charitable activities. Value Added Tax The charity is not registered for VAT purposes, therefore expenditure is shown gross of V AT. Fixed assets Tangible fixed assets are stated at cost, or valuation less accumulated depreciation.
Page 12 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLICIES (continued) Depreciation Depr¢ciation is calculated so as to ivrite off the cost of an asset, less its estimated residual value, over the useful ecoiiomic life of that asset as follows.. Computers - 33.3 % straight line Taxation As a charitiy, the company benefits from various exemptions afforded by tsx Eegislation. It is therefore not liable to Cotporation tax on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid. Judgements and key sources of estimation uncertainty The following judgements including those involving estimated have been made in the proccss of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a signifIcant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: (i) d¢preciatioii niethod and asset useful lives The estimates and assumptions are revi¢wed on an ongoing basis considering the current and future market conditions. Going concern The financial statements have been prepared on a going concern basis. The Directors consider the basis to be appropriate assun]ing that the charity has adequate fiiiancial support from tbe bankers and Telated chaTlties. Donations and legAcies Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 Donations Donations from individuals and churches Donations towards salary Donations from Hinchley Gift aid Doiiation towards Ev]g¢11st tralliing ETC 66,498 5,452 5,OlXI 5,909 20,IM)O 86,498 5,452 94,357 11,676 5,000 12,194 2,100 4,659 129,986 5,909 2,746" 85,605 2,746 105,605 20,000
Page 13 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 JANUARY 2024 Income from chai'itable activities Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 Sligo conference Leadership conference Training days 166,S69 22,481 2,142 166,569 22,481 2,142 152,656 995 191,192 191,192 153,651 Income from Investments Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 Interest- bank 1,340 1,340 123 1,340 1,340 123 AnAlysis of expenditure on charltable activities Activities Undertaken dii'ectly Support costs Total 2024 ActiVAties Undertaken directly Support costs Total 2023 Faith based organlsation and events 235,605 IS,975 251,580 235,583 4,832 240,415 235,605 IS,975 2SI,S80 235,583 4,832 240,415 Allocation of support costs Basis of Faith allocation organisation & events Faith Total organisation 2024 & events Total 2023 Governance Offic¢ nuing costs Promotional etc costs Depreciation Cost Cost Cost Cost 2,401 1,018 12,073 483 2,401 1,018 12,073 483 (741) 1,226 3,864 483 (741) 1,226 3,864 483 15,975 15,975 4,832 4,832
Page 14 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 JANUARY 2024 Governance costs Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 Independent examiiier's fees Foreign currenc}, {gains}Aosses 1,265 1,136 1,265 1,136 1,222 (1,963) (741} 2,401 2,401 Other expenditure Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 Computer softwTare 6,345 6,345 Net expenditure for the year This is stated after charging". 2024 2023 Depreciation 483 483 10. Directors, and key management personnel remuneration and expenses The key management personnel are considered to be die truste¢s. The trustees neither received nor waived any remuneration during the year (2023 - £Nil). The trustees did not have any expenses reimbursed during thc year (2023- £Nil). I l. Staff costs and employee benefits Total staff costs were as follows: 2024 2023 Wages and salaries Social security Costs Pension costs 60,141 789 7,685 65,668 1,912 9,917 68,615 77,497 Allocated to: 2024 2023 Faith based organisation and events 68,615 77,497 68,615 77,497
Page 15 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 JANUARY 2024 I l. Staff costs and employee benefits (continued) Particulars of employees: The average monthly number of employees including the directors during th¢ year, calculated on the basis of full-time equival¢nts_ was as follows.. 2024 No 2023 Number of management and administration staff No employee received remullerntion of more than £60,000 during the year (2023 - Nil). 12. Tangible fixed assets Computers Total COST At l February 2023 Additions 18.156 18,156 At 31 January 2024 DEPRECIATION At l February 2023 Charge for th¢ vear At 31 January 2024 NET BOOK VALUE At 31 January 2024 At 31 January 2023 18,156 18,156 17,190 483 17,190 483 17,673 17,673 483 483 966 966 13. Debtors 2024 2023 Gift aid Prepayments 5,912 1,495 12,194 3,300 7,407 15,494 14. Creditors: Amounts falling due within one year 2024 2023 Accruals Deferred income Taxation and social security 1,380 46,311 824 1,180 36,836 1,610 39,626 48,515
Page 16 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 JANUARY 2024 15. Deferred income Total At l February 2023 Additions during die year Amounts released to income 36,836 46,311 (36,836) 46,311 At 31 January 2024 Income has been deferred as it relates to conference income for the next financial vear. 16. Unrestricted funds Balance at l Feb 2023 Balance at 31 Jan 2024 Income Expenditure Geiiernl Funds 116,724 116,724 278,137 245235 149,626 149,626 278,137 245235 Bajance at l Feb 2022 Balance at 31 Jan 2023 Income Expendkture General Funds 73,379 283,760 283,760 240,415 240,415 116.724 73,379 116,724 17. Restricted funds BAlance at l Feb 2023 Balance At 31 Jan 2024 Income Expenditure General Funds 20,000 6,345 13,655 zo,000 6,345 13,655 Balance at l Feb 2022 Balance at 31 Jan 2023 Income Expenditure General Funds
Page 17 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (contlnued) YEAR ENDED 31 JANUARY 2024 18. Analysis of net assets between funds Tangible Net current fixed assets assets Total 2024 Unrestricted Vunds Restricted Funds 483 162,798 163,281 Total Funds 483 162,798 163,281 Tangible Net current fixed assets assets Total 2023 Unrestricted Funds Restricted Funds 966 115,758 116,724 Total Funds 966 115,758 116,724 19. Reconciliation of net income to net cash flow from operating activities 2024 2023 Net iiicome for year Interest receivable Depreckation and impaimieiit of tangible fixed assets De¢r¢&sel(in¢rease) in debtors Increase in Credito 46,557 (1,340) 483 8,087 8,889 43,345 (123) 483 (8,982) 13,238 Net cash flow from operating activities 62,676 47,961 19. Related party transactions There were no related party transactions during the year {2023 - £Nil). 20. Company limited by guarvdntee The company is limited b}, guarantee and has iio share capital. On a winding up members may be required to contribute a maximum of £ l.
Page 18 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JANUARY 2024 2024 2023 Income from: Donations and legacies Donations from individuals ]d churches Donations toivards salaryi Donations from 'nch1eY Donations toivards evangelist training Gift aid ETC 86,498 5,452 94,357 11,676 5,OIN) 2,1 12,194 4,659 129,986 5,909 2,746 IOS,605 Charitable activities Sligo confcrence Leadership ¢onf¢rence TraÈning days 166,569 22,481 2,142 152,656 995 191,192 153,651 Investments Bank interest receivable 1,340 1,340 123 123 Total income 298,137 283,760
Page 19 NEWWINE IRELAND COMPANY LIMITED BY GUARANTEE DETAILED STATEMENT OF FINANCIAL ACTIVITIES (contlnued) YEAR ENDED 31 JANUARY 2024 2024 2023 Expenditure Charitable activities Coifference and events expenses Wages & salaries Rent & rates Insurance Miscellaneous expenses Motor and tsavel costs Admin numiiig costs Telephone Postage, stationery, advertising and computer expenses Bank fees Depreciation Visiting speakers and donations 155,518 68,615 1,136 989 6,579 2,490 1,018 1,132 10,941 273 483 149,953 77,497 1,367 4,146 1,102 1,226 906 2,958 364 483 150 249,179 241,156 Governance costs Accountancy fees EYchang¢ (gains)Ilosses 1,264 1,137 1,222 (1,963) (741) 2,401 Total expenditure 251,580 240,415 Net income 46,557 43,345
Page 20 NEW WINE IRELAND COMPANY LIMITED BY GUARANTEE DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued) YEAR ENDED 31 JANUARY 2024 2024 2023 Charitable activities Faith based organisation and events Aclivilies underlaken directli? Conference and events expenses Wages & salaTies Rent Insurance Miscellancous expenses Motor and travel costs Bank fees Visiting speakers and donations ISS,518 68,615 1,136 989 6,579 2,490 273 149,953 77,497 1,367 4,146 1,102 364 150 235,605 235,583 Supporl costs Admin ning costs Teleplione Postage, stationer),, advertising and computer costs Depreciation Governance 1,018 1,132 10,941 483 2,401 1,226 906 2,958 483 (741) 15,975 4,832 240,415 251,580