Docusign Envelope ID: 347DE47E-2A31-496D-BD24-7EDC40094CAA REGISTERED COMPANY NUMBER: N1619487 {Northern Irolandl REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 FOR Lagan Valley Vinoyard Church
Do¢uSlgn Envelope ID.. 347DE47E-2A31496D-B024-7EDC40094CAA Lagan Valley Vineyard Church CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Page Report of the Trustees Report of the Independent Auditors 7 to 10 Ststement of Financial Activities Balance Sheet 12 Cash Flow Statement 13 Notes to the Cash Flow Statement 14 Notss to the Flnancial Statement5 15 to 21 Detailod Statemant of Financial Activities 22
Docuslgn Envelope10.' 347DE47E-2A31-4960-BD24-7EDC40094CAA Lagan Valley Vineyard Church REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 The Iruslees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the eharity for the year ended 31 August 2023. The trustees have adopted the provisions of Accounting and Reporti'ng by Charities.. Slalemenl 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 1021 leffeclive 1 January 20191. Objectives and activities Objectives and aims We are a lacal church based in the City of Lisburn. we exist trj bring the life of Jesus to every person and every part of Lisburn and the Lagan Valley region. We exist to see those people and places discover and live in the fullness of God's design and destiny for them, joining God in making all things new. Our objects of LW are for public benefit and are restricted lo the following.. a} lo advance the Christian faith in accordance with the Statement of Beliefs lattached as a schedule lo the Articles of Associalionl including but not by way of limitation through the planting of other Vineyard churches in such ways in Lisburn and such parts of the United Kingdom or the world as Trustees from lime to lime think fil., bl to further Christian education in such parts of Lisbvrn. the Unifrd Kingdom and the world as Trustees may from time to lime think fit., cl to relieve sickness, financial hardship, and poverty and to promote and preserve good health by the provision of funds, goods or SeNiS of any kind. including through the provision of counselling. training in life skills and support in such parts of Lisburn, the United Kingdom or the world a5 Trustees may from lime to lime think fil; and dl to further or benefit the residents of Lisburn and the surrounding area wilhoul distinction of sex, sexual orienlalion. ra or of political, religious or other opinions by associating together the said residents and the local aulhorilies. voluntary and other organisations in a common effort to advance education. foster cross community partnerships and lo provide facilities in the interests of social welfare for recreation leisure lime occupations with the objective of improving the conditions of life for the residents. Page 1
DocuSSgn Envelope ID.. 347DE47E-2A31-496D-BD24-7EDC40094CAA Lagan Valley Vineyard Church REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Objgctives and activities Significant activities From September 2022 to June 2023 we began a training journey with our staff team lo become "trauma infomied this was facilitated by two qualified praclilitsners from "connected for life" This training was hugely beneficial in raising awareness, skills and to help our staff team not just care lor others but critically lo look after themselves in dealing with and supporting vulnerable people and difficult individual. family and community issues. October 2022 was the church's lenlh anniversary, we ran a weekend lebratiOn called "Awaken" this was a hugely significant lime for the whole church community lo celebrate, remember and dream about the future. Following Awaken we invited the church to give financially towards the refutbishment and fit out of the 12,000 square fool space adjacent lo our current building. We exceeded our largel and further developed the designs for the upstairs space. Having raised the funds we then submilled a planning application lo the Planning Service to extend our current venue lo incorporate the new space and hope lo begin the worf(s as soon as the relevant statutory permissions have been granted. Sunday attendance continued to grow through the year and we undertook a staff organISation to better serve the mission and ministry of the church. In August 2023 we held a family meeting to share the new structure with the wider body of the church. Our nomial church ministry of small groups, acute pastoral care. weddings and funerals continued as normal this year. Tribes are the place we gather around Ihe table to fellowship through feasting, read the ancient scriptures aloud, pray together and lo practice the sacrament ol communiori through the breaking of bread and the drinking of the cup. The whole lime being open lo the work of the Spirit. There are a range of core groups that meet who follow centrally suggested leaching and discussion points based on the previous Sunday message bul also interest groups (Marriage Course. Fostering & Adoption, Justice. Prayer, Board Games). For the year ended 31 August 2023 we had 26 different Tribe groups running which had over 273 people connecting and growing their faith within them. We also has 4 Tribes for young people with 30 people attending during the year. Our Alpha school's ministry continued to grow from strength to strength with approximately 500 students involved acr¢)ss 4 local schools. We therefore recognised that the growing demands of the schools work could not be sustained by our youth pastor so in February 2023 we employed a part lime schools coordinator to support. It has been a real highlight of the church's ministry over the last couple of years releasing 28 volunteers from across the church into schools across the region several limes a week. Our compassion ministry continues lo develop ils work with two focus periods of work of Love Lagan Valley al Christmas and in the summer. Both projects allow us to partner with multiple agencies across the city and wider region, including the local council and PSNI our annual Christmas partners lunch was a real highlight. We hosted 2 CAP Ichrislians Against Poverty) courses with 24 people and 10 volunteers. We also trained 4 new CAP coaches and began giving monthly to CAP Debt Lisburn. Emma Wilson was appointed as the Trustee sponsor of CAP activities. Our All-Nations programme hosted a monthly shared meal which averaged 60 people per meal from Odober 2022 to August 2023. There were over 100 people on the All-Nalions register, including 9 different languages. For the year over 600 meals were provided and 90 people were taken lo the beach in August 2023 as part of a summer trip. SUCSSful fundraising activity covered the costs of all these aclivilies. We also continue to collect and donate to a local food bank and on average we referred one person every 10 days to the food bank for food support, money advice or other services. The Nua festival held ils second annual festival in June with over 1,500 in attendance, this continues lo be a partnership beeen LW. Emmanuel Church and Centre 61 in Newcastle. The festival was a huge success and we are very much looking forward to next year's festival. Page 2
Docusign Envelope ID.. 347DE47E-2A31-496D-BD24-7EDC40094CAA Lagan Valley Vineyard Church REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Objective8 and activities Public benefit The Charity's purposes for the public benefit are as follows: The worship services are free of charge and open lo all. The promotion of family stability and well-being, and increased ability lo contribute positively lo society for those attending. Provide support and guidance lo those activities of its members that seek to promote, in Lisburn and surrounding areas, an understanding of the Christian beliefs as set out in the church's basis of faith, through practical expression of Christian beliefs and ideals in the local community. Provide support and guidan lo those activities of ils members that seek to further Christian education, in Lisburn and surrounding areas, an understanding of the Christian beliefs as set out in the church's basis of faith, through practical leaching of Christian beliefs and ideals in the local community. The benefit of such support and guidance is lo enable those members to be beller able lo serve in the local community. Carry out acts of social concern lo benefit persons in Lisburn and the surrounding areas. The church runs activities promoting good financial management to alleviate financial hardship and poverty which then further signposts individuals lo receive actual support as well as opportunities lo participate in prayer to relieve sickness. Annual Christmas hamper food give aways and ongoing food provisions to those in need. Providing improved community relations, inlercullural cohesion, and an increase in understanding of cross cultural and mulli-religious views creating a common ground and sense of belonging through our community inilialives and our weekly Sunday Celebrations as well as hosting specific mulli-cullural events. The benefit of such support and guidance is to enable those members to be belter able to serve in the local community. Provide support and guidance lo those activities of ils members that seek lo promote, in Lisburn and surrounding areas. We offer early intervention low level capacity building through befriending, mentoring and short term courses. Partnering willi other chaf1ties and slatulory bodies to provide more joined up thinking and service provision to those in need be that financial, health or relational. All activities discussed above are open to the public without discrimination and aimed mainly within Lisburn and the greater surrounding areas though some elements listed above have worldwide activities. All acts are completely voluntary. Activities are monitored for growth in participation and have opportunities for feedback from members. There is a potential harm of creating a cycle of dependency in relieving financial hardship directly through gifts, however this does not outweigh the public benefit as we also provide additional services for longer term life skills lo educate through these situations. Other than this we would stale that there is no harm pr possibility of ham) that could come from the benefits listed. The only private benefit to Iruslees may arise from our programme of ongoing training in good governance. finance elc. The Charities beneficiaries are-. 1. General Public 2. Pre-school12.5-5 YEAR OLDS) 3. Children15 years- 1 Oyrsl 4. Youlh111-25 YEAR OLDS) 5. Parents 6. Unemployedl Low Income 7. Adult Training 8. Women 9. Volunteers 10. Men 11. Ethnic Minorities Financial review Financial position The results are set out on pages 9 to 12. Total income for the year was £1,048,413, comprising of restricted funds of £569,580 and unrestricted funds of £478,833. The main Sour of unrestricted funds was generated through general donations whereas the main source of restricted funds was generated through donations to our building project. Total expenditure for the year amounted to £530,205 meaning the total net income amounted to £518,208, of which, £457,783 wag unrestricted. At the end of the period the Charitable Company has £780,081 cash at bank, of which £142,000 was unrestricted. 11 is the aim of the Trustees. if possible, lo maintain an unrestricted cash reseNe equivalent to that of tsvo months expenditure. The Charitable Company plans lo continue its activities in forthcoming years. Page 3
Docusign Envelope ID.. 347DE47E-2A31-496D-BD24-7EDC40094CAA Lagan Valley Vineyard Church REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Financial review Going concern The Board of Trustees meet regulady throughout the year, and by careful analysis of management accounts considers if there are any major risks lo the future and to ensure that the Charitable Company is a going concern. The Board of Trustees have assessed the major risks to which the Charitable Company is exposed, in particular those related lo the operations and finances of the Charitable Company and are satisfied that systems are in place to mitigate any exposure, for example. internal control risks are minimised by the implemenlalion of procedures outlined in our Finance Policy including authorisalions for payments and segregation of duties. The Board of Trustees have considered the following.. Can the charitable company continue ils core activities for the next 12 months? Is there adequate management information to enable good decision-rnaking? Are there sufficient cash flow lo fund core aclivilies? Are there sufficient unrestricted cash reserves available if general donations significantly reduce? The board of trustees have taken into consideration all available information and are comfortable that the charitable company can continue as a going concern. The following factors have supported this as5essmenl, and coming to this conclusion.. There has been a small but steady increase in general giving across the year, even when excluding significant one-off unreslricled donations. Total income for the year was £1,048,413, comprising of restricted funds of £569,580 and unreslricled funds of £478.833. We mel our fundraising largel for the future building project which included additional contingency funding in case of price rises. A healthy cash balan has been maintained throughout the year. At the end of the period the charitable company has £780,081 cash at bank, of which £142.000 was unrestricted. 11 is the aim of the trustees, if possible, lo maintain an unrestricted cash reserve equivalent lo that of two months expenditure. The charitable company has no dependence on public sector funding. The charitable company has no bank loans or other long-lerm liabilities. Policies and procedures are in place lo ensure Complian with health and safety of staff. volunteers, and visitors. The board of trustees are aware of no material uncertainties related to events or conditions that cast signrficant doubt on the charitable company's ability lo continue as a going concern. Future plans Our plan is to continually seek lo move forward with the objectives we have sel out. Alongside the continued growih of our ministries and mission, the major piece of work for the nexi year will be the refurbishment of the extension. We hope lo begin that work by Christmas and have il completed by the summer. We have also been exploring a partnership with Bryson Care's education programme being based in the new spa. Page 4
Do¢uSSgn Envelope ID.. 347DE47E-2A31-496D-B024-7EDC40094CAA Lagan Vallèy Vineyard Church REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Structure, governance and management Governing document Lagan Valley Vineyard ILWI is a registered Charity with the Charity Commission for Northern Ireland ICCNII and is governed by its Articles of Association. Registered and approved with the Charity Commission Northern Ireland under NIC10475. Registered and approved by Compariies House as a private limited company under number. N1619487. The Trustees, who are also directors for the purpose of Company law and who served during the year ended 31 August 2023 and up lo the dale of signature of the financial statements were.. Mr JM Wilkinson . Mr ARJ Masters . Mrs E W11son . Mr AP Wilson . Mrs RH Major Mr SJ Bradley (resigned 16 June 20231 Mr SD Tiernan {resigned 23 August 20231 Mrs HR Lewis (appointed 29 February 20241 The board of trustees meet regularly throughout the year, and by careful analysis of management accounts considers if there are any major risks to the future and lo ensure that the charitable company is a going concern. The board of trustees have assessed the major risks lo which the charitable company is exposed, in particular those related to the operations and finances of the charitable company and are satisfied that systems are in place lo mitigate any exposure, for example. internal control risks are minimised by the implementation of procedures outlined in our finance policy including aulhofisalions for payments and segregation of duties. Policies and procedures are also in place to ensure compliance with health and safety of staff, volunteers, and visitors. These are reviewed periodically (at least annually) to ensure they continue to meet the needs of the charitable company. Regarding the appoir)tment of trustees, suitable candidates are considered on the basis of their skills, experien and involvement with the church. These candidates are discussed and agreed al a board meeting in advan of being invited lo join. New Trustees receive appropriate induction and relevant training. Following a training webinar hosted by Northern Ireland Council for Voluntary Action {NICVA) on Good Governance and Charity Regulation for Faith Organisalions, the board of trustees agreed lo complete the Code of Good Governance Health Check - this was undertaken and completed on 28 June 2023 during a regular board meeting. This step-by-step assessment provided a practical and evidence-based way to encourage and facililale better governance and accountability on an ongoing basis. This health check helped identify areas where we wanted lo make changes or improvements. Reference and administrative detsils Registered Company number N1619487 (Northern Ireland) Registered Charity number 104751 Registered office 39 Church Street Ballynahinch Down BT24 8AF Trustees Mrs H R Lewis (appointed 29 February 20241 Mrs R H Major A R J Masters J M Wilkinson Mrs E Wilson A P Wilson Page 5
Docuslgn Enve5ope ID.. 347DE47E-2A31-4960-BD24-7EDC40094CAA Lagan Valley Vineyard Church REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Reference and adminlstrative detsils Auditors Moore IN.I.I LLP Donegall House 7 Donegall Square North Belfast Northern Ireland BT1 5GB Solicitors McFarland Graham Mccomb Solicitors 41-43 Batchelors Walk Lisburn BT28 1XN Accountants Ivan Shannon & Co 39 Church Street Ballynahinch BT24 8AF Statement of trustees, responsibilities The Iruslees (who are also the directors of Lagan Valley Vineyard Church for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom GeneralSy Accepted A¢¢ounling Practice). Company law requires the trustees to prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing those financial slalements. the trustees are required lo select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP,. make judgements and eslimales that are reasonable and prudent-, prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charitable company and to enable them lo ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit infomialion of which the charitable company's auditors are unaware., and the Iruslees have taken all steps that they ought lo have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Auditors The auditors, Moore IN.1.) LLP, will be proposed for re-appointment al the forthcoming Annual General Meeting. Approved by order of the board ol trustees on 28 June 2024 and signed on its behalf by.. DacvslgD by- Inson ruslee Page 6
Docusign Envelope ID.. 347DE47E-2A31496D-BD24-7EDC40094CAA REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF LAGAN VALLEY VINEYARD CHURCH Opinion We have audited the financial statements of Lagan Valley Vineyard Church Ilhe 'company'l for the year ended 31 August 2023 which comprise the statement of comprehensive income, the balance sheet, the statement tsf changes in equity. the slalemenl of cash flows and notes to the financial slalemenls, including signif1canl accounting policies. The financial reporting framework 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 of Ireland (United Kingdom Generally Accepted Accounting practi). In our opinion the financial statements: give a true and fair view of the slate of the company's affairs as al 31 August 2023 and of ils deficit for the year then ended. have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the finanaal slalemenls section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to Ouf 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 that the audit eviden we have obtained is sufficient and appropTiale to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the directors, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfamed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability lo continue as a going concern for a period of al least twelve months from when the financial slalemenls are authorised for issue. Our responsibilities and the re$ponsibililies of the directors with respect to going concern are described in the relevant sections of this report. Other information The other infom)alion compiises the information included in the annual report other than the financial statements and our auditor's report Ihereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other inlomalion and, exeept to the extent otherwise explicitly slated in our report. we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other infofmalion and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a material misslalemenl in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misslalemenl of this other information, we are required lo report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial slalemenls are prepared is consislenl with the financial stalemenls., and the Report of the Trustees has been prepared in accordan with applicable legal requirements. Page 7
Do¢uSign Envelope ID.. 347DE47E-2A31496D-8D24-7EDC40094CAA REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF LAGAN VALLEY VINEYARD CHURCH Matters on which we are requirgd to report by exception In the light of the knowledge and understanding of the company and ils environment obtained in the course of the audit, we have not identified material misslalemenls in the strategic report and the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and relums. or certain disclosures of directors, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the directors were not entitled lo prepare the financial statements in accordance with the small companies regime and lake advanlaue of the small comDanies' exemDlion in DreDarina the directors, reDOrt. Responsibilities of dlrectors As explained more fully in the directors, responsibilities statement, the directors 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 lo enable the preparation of financial statements that are free from material misstalemenl, whether due lo fraud or error. In preparing the financial slalemenls, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable. matters related lo going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or lo cease operations. or have no realistic alternative but lo do so. Page 8
Docusign Envelope ID.. 347DE47E-2A31496D-8D24-7EDC40094CAA REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF LAGAN VALLEY VINEYARD CHURCH Our responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assuran about whether the financial slalements as 8 whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assuran is a high level of assuran bul is not a guarantee that an audit conducted in accordan with ISAS IUKI will always delect a material misslalemenl when it exists. Misslatemenls can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial stalemenls. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. Explanation as to what extent the audlt was considered Capable of detecting irregularltles, including fraud The objectives of our audit in respect of fraud, are., to identify and assess the risks of material misslalement of the financial slalements due lo fraud,. to oblain sufficient appropriate audit eviden regarding the assessed risks ol material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks., and lo respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance ofthe company. Our approach was as follows.. We obtained an understanding of the legal and regulatory requirements applicable lo the company and considered that Ihe most significant are the Companies Act 2006, UK financial reporting slandards as issued by the Financial Reporting Council, and UK laxation legislation. We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance. We assessed the risk of material misstatement of the financial statements, including the risk of materi81 misslalement due to fraud apd how il mighl occur, by holding discussions with management and those charged with governance. We inquired of management and those charged with govemance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures to identify instances ol non-compliance with laws and regulations. This included making enquiries of management and those charged with oovernance and oblainina additional corroborative evidence as reauired. As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial slalement5, whether due to fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not detecting a material misslatemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentalions, or the override of inlernal conlrol. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on Ihe effectiveness of the company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting eslimales and related disclosures made by the directors. Conclude on the appropriateness of the directors, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of our auditor's report. However, future events or conditions may cause the company lo cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial slalements, including the disclosures, and whether the financial slalements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other mallers, the planned scope and liming of the audit and significant audit findings. including any significant deficiencies in internal control that we identify during our audit. Page 9
Do¢uSlgn Envelope10.' 347DE47E-2A31-496t>BD24-7EDC40094CAA REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF LAGAN VALLEY VINEYARD CHURCH A further description of our responsibilities for the audit of the financial slatemenls is located on the Financial Reporting Council's website al w.frC.org.UkIaudt0rsreSpOnSlbIjI1les. This description forms part of our Report of the Independent Auditors. The purpose of our audit work and to whom we owe our responsibilities This report is made solely to the charitable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required to slate lo them in an auditors, report and for no other purpose. To the fullest extent pemiilted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, lor our audit work, for this report, or for the opinions we have formed. 9RLP Dr Rosemary Peters Gallagher OBE (Senior Slalulory Audilorl for and on behalf of Moore IN.1.) LLP Doneg811 House 7 Donegall Square North Belfast Northern Ireland BT15GB Dale.. 28th June 2024 Page 10
Docusign Envelope ID.. 347DE47E-2A31-496D-BD24-7EDC40094CAA Lagan Valley Vineyard Church STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 31.8.23 Total funds 31.8.22 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 478,833 566.549 1,046,382 443,264 Investment income 3,031 3.031 14 Total 478 833 569 580 1,048,413 443,278 EXPENDITURE ON Charitable activities Children's Ministry Church Support Compassiori Costs Connection Costs Equipment Costs Mission Contributions Depreciation Office Costs Pathway Costs Church Services Staff Costs Tribe Church Ulililies Worship Costs Youth Ministry Costs 33,024 13.248 70 33,094 13,248 29,209 39,931 6,775 693 7,912 25.825 531 18,461 274,450 2,952 16,606 33,293 7,216 2,431 6.350 8,596 11,331 937 16,770 253,089 167 64,403 3,137 17,197 29.209 2,550 3,600 37,381 3.175 693 7,912 4,845 20.980 531 17,922 274,450 539 75.030 1,481 2,625 77,655 1.481 Other 1,440 1,440 Total 479,355 51,350 530,705 444.475 NET INCOMEI{EXPENDITURE} Transfers between funds 15221 60.447 518,230 60,4471 517,708 {1.1971 14 Net movement in funds 59,925 457,783 517,708 11,197) RECONCILIATION OF FUNDS Total funds brtsught forward 79,816 226,984 306,800 307,997 TOTAL FUNDS CARRIED FORWARD 139.741 684,767 824.508 306,800 The notes form part of these financial statements Page11
Doeusign Envelope ID.. 347DE47E-2A31-4960-BD24-7EDC40094CAA Lagan Valley Vineyard Church BALANCE SHEET 31 AUGUST 2023 31.8.23 31.8.22 Notes FIXED ASSETS Tangible assets 10 68,181 74.652 CURRENT ASSETS Debtors Cash at bank 11 552 780,081 9.000 223,417 780,633 232,417 CREDITORS Amounts falling due within one year 12 (24,306) 12691 NET CURRENT ASSETS 756 327 232 148 TOTAL ASSETS LESS CURRENT LIABILITIES 824,508 306,800 NET ASSETS 824.508 306,800 FUNDS Unreslricled funds Restricted funds 14 139.741 684 767 79.816 226.984 TOTAL FUNDS 824.508 306,800 These financial slalemenls have been prepared in accordance with the provisions applicable lo charitable companies subject lo the small companies regimo. The financial statements were approved by the Board of Trustees and authorised for issue on 28 June 2024 and were signed on ils behalf by.. DoSIgned by.. J nL WILLIKs6 Pfg6fi84Yrustee The notes form part ofthese financial statements Page 12
Docusign Envelope ID.. 347DE47E-2A31-496D-BD24-7EDC40094CAA Lagan Valley Vineyard Church CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 31.8.23 31.8.22 Notes Cash flows from operating actlvities Cash generated from operations 555,073 1,053} Nel cash provided byllused inl operating activities 555,073 1,0531 Cash flows from investing activities Purchase of tangible fixed assets Interest received 11,4401 14 Net cash provided by investing activities 14 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the baginnlng of the reporting period 556,664 11,039) 223,417 224.456 Cash and cash equivalents at the end of the reporting period 780,081 223,417 The notes form part of these financial statements Page13
DocuSSgn Envelope ID.. 347DE47E-2A314960-8D24-7EDC40094CAA Lagan Valley Vineyard Church NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.8.23 31.8.22 Net incomel{6xpanditurel for the reporting period las per the Statèment of Financial Activitiesl Adjustments for: Depreciation charges Interest received Decreasellincreasel in debtors Increaselldecreasel in creditors 517,708 11,1971 7,912 {3,0311 8,447 24,037 8,596 1141 14,1681 Net cash provided byllused inl operations 555.073 ANALYSIS OF CHANGES IN NET FLINDS At 1.9.22 Cash flow At 31.8.23 Net cash Cash al bank 223,417 556,664 780 081 223,417 556 664 780 081 Total 223,417 556.664 780,081 The notes form part of these financial statements Page 14
Docusign Envelope ID= 347DE47E-2A31-496D-8D24-7EDC40094C Lagan Valley Vineyard Church NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES Basis of preparing the financlal ststements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slalemenls have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activitie5 once the charity has enliilement lo the funds. it is probable that the income will be reiVed and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity lo that expenditure, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measLJred reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Wnere costs cannot be directly allribuled to particular headings they have been allocated to activities on a basis consistent with the use of reSoUrs. Tangible fixed assets Tangible fixed assets are initially recorded at cost. They are subsequently measured al cost or valuation, net of depreciation and any impaimienl losses. Historical cost includes expenditure that is directly attributable lo bringing the asset to the location and condition essary for it lo be capable of operating in the manner intended by management. Depreciation is provided at the following annual rates in order to write off the cost less eslimaled residual value of each asset over ils estimated useful life. Fixtures and fittings.. Improvements to property.. At each balance sheet date, the carrying amounts of tangible assets are reviewed to determine whether there is an indication that those assets have suffered an impairment loss. Where the carrying value exceeds the eslimaled recoverable amount (being the greater of fair value less costs to sell and value-in-usel, an impairment loss is recognised by writing down the cash-generaling units to their recoverable amount. An impairment loss is recognised immediately in the statement of financial activities. Any reversal of a previous impairment is similarly recognised immediately in the slalement of fincnail activities. 150 Reducing balance 150A Reducing balance Taxation The charity is exempl from corporation tax on its charitable activities. Fund accounting UnreslTicled funds can be used in accordance with the charitsble objectives at the discretion of the trustees. Reslricled funds can only be used for particular reslricled purposes within the objects of the charity. Restrictions arise when speoified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial slatemenls. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable lo the charitable company's pension scheme are chaiged to the Slalement of Financial Activities in the period lo which they relate. Page 15 continued...
Do¢uSlgn Envelope ID-. 347DE47E-2A31-496D-BD24-7EDC40094CAA Lagan Valley Vineyard Church NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023 DONATIONS AND LEGACIES 31.8.23 31.8.22 Donations Gift aid C Commission 883.649 153,193 8,540 359,995 75,308 7,961 1045,382 443,264 INVESTMENT INCOME 31.8.23 31.8.22 Deposit account interest 3,031 14 CHARITABLE ACTIVITIES COSTS Direct Costs Children's Ministry Church Support Compassion Costs Connection Costs Equipment Costs Mission Contributions Oeprecialion Office Costs Pathway Costs Church servIs Staff Costs Church Ulililies Worship Costs 33,094 13,248 29,209 39,931 6,775 693 7,912 25,825 531 18,461 274,450 77,655 529 265 SUPPORT COSTS Govèrnance costs Other resources expended 1,440 NET INCOMEIIEXPENDITUREI Nel incomel{expendilurel is stated after chargingl{credilingl-. 31.8.23 31.8.22 Auditors, remuneration Depreci81ion - owned assets 1,440 7.911 Page 16 continued...
Docuslgn Envelope ID-. 347DE47E-2A31-496D-8D24-7EDC40094CAA Lagan Valley Vineyard Church NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023 TRUSTEES. REMUNERATION AND BENEFITS During the year Mr Andrew Mcmasters, a trustee of the charity, was paid £46.19912022: £49,409) by virtue of his employment. Trustees, expenses There were no Iruslees, expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. STAFF COSTS 31.8.23 31.8.22 Wages and salaries Other pension costs 255.548 223.511 259 990 223,511 The average monthly number of employees during the year was as follows: 31.8.23 31.8.22 Pastors Music Admin 10 14 No employees received emoluments in eXSS of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrgstricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 392.566 50,698 443.264 Investment income 14 14 Total 392,566 50.712 443.278 EXPENDITURE ON Charitable activities Children's Ministry Church Support Compassion Costs Connection Costs Equipment Costs Mission Contributions Depreciation Office Costs Pathway Costs Church Services Staff Costs Tribe Church Ulililies Worship Costs Youth Ministry Costs 2,952 16.606 2,952 16,606 33,293 7,216 2,431 6,350 8,596 11,331 937 16,770 253,089 167 64,403 3.137 17,197 33.293 7.216 2,431 6,350 8,596 11,331 937 16,770 253,089 167 64.403 3,137 17,197 Total 402.586 41.889 444,475 Page 17 continued...
Docusign Envelope ID.. 347DE47E-2A31-498D-BD24-7EDC40094CAA Lagan Valley Vineyard Church NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted funds Restricted fund8 Total funds NET INCOMEI(EXPENDITUREI Transfers between funds (10.0201 8,6501 8.823 {1,1971 Net movement in funds 118,6701 17,473 {1,1971 RECONCILIATION OF FUNDS Total funds brought forward 98,486 209,511 307,997 TOTAL FUNDS CARRIED FORWARD 79,816 226,984 306 800 10. TANGIBLE FIXED ASSETS Improvements to property Fixtures and fittings Totals COST At 1 September 2022 Additions 140,777 15,136 1,440 155,913 1.440 Al 31 August 2023 140,777 16,576 157.353 DEPRECIATION Al 1 September 2022 Charge for year 70,740 7.003 10,521 908 81.261 At 31 August 2023 77,743 NET BOOK VALUE Al 31 August 2023 63,034 68.181 Al 31 August 2022 4,615 74,652 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.23 31.8.22 Other debtors Prepayments and accrued income 9,000 552 552 9,000 Page 18 continued...
Docusign Envelope ID.. 347DE47E-2A31-496D-8D24-7EDC40094CAA Lagan Valley Vineyard Church NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.23 31.8.22 Social security and other taxes Other creditors Accrued expenses 2,146 17,512 4.648 1731) 1.000 24.306 269 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.8.23 Total funds 31.8.22 Total funds Unrestricted funds Restricted funds Fixed assets Current assets Current liabilities 68.181 616,586 68,181 780,633 24,3061 74,652 232.417 164,047 24.3061 139,741 684,767 824 508 306.800 14. MOVEMENT IN FUNDS Net movemant In funds Transfers bettveen funds At 31.8.23 At 1.9.22 Unrestricted funds General fund 79.816 1522) 60,447 139,741 Restricted funds Building Compassion 195,555 31.429 534,817 116,5871 145,6051 14,8421 684.767 226.984 518,230 60,4471 684,767 TOTAL FUNDS 306.800 517,708 824 508 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 478,833 1479,3551 {5221 Restricted funds Building Compassion 556.958 12.622 {22,141} 29,2091 534,817 16,5871 569 $80 513501 518 230 TOTAL FUNDS 1,048.413 530.7051 517.708 Page 19 continued...
Docusign Envelope ID.. 347DE47E-2A31-496D-BD24-7EDC400g4CAA Lagan Valley Vineyard Church NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023 14. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Nat movement in funds Transfers betsveen funds At 31.8.22 At 1.9.21 Unrostricted funds General fund 98,486 (10,020) 18,6501 79,816 Restricted funds Building Compassion 189,009 20,502 11,207 14.661) 13.311 195,555 31,429 209,511 226 984 TOTAL FUNDS 307 997 306,800 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 392,566 {402,586) 110,0201 Restricted funds Building Compassion 19,803 {8,5961 33 2931 11,207 8,823 TOTAL FUNDS 443 278 444.4751 A eurrenl year 12 months and prior year 12 months combined position is as follows.. Net movemant in funds Transfers between funds At 31.8.23 At 1.9.21 Unrestricted funds General fund 98,486 110,5421 51,797 139.741 Restricted funds Building Compassion 189,009 546,024 18,9711 150,266} 1,5311 684,767 209.511 527,053 51,7971 684,767 TOTAL FUNDS 307,997 516,511 824.508 Page 20 continued...
Docusign Envelope ID.. 347DE47E-2A31-496D.BD24-7EDC40094CAA Lagan Valley Vineyard Church NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023 14. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 871,399 1881,9411 110,5421 Restricted funds Building Compassion 576.761 43.531 130,7371 62,502} 546,024 189711 620 292 93,2391 527 053 TOTAL FUNDS 1.491,691 975,1801 516511 15. RELATED PARTY DISCLOSURES The board of trustees set salaries for all staff positions and approve any changes to remuneration i.e. pay rise's post staff annual appraisal or any ad-hoc changes where they may arise i.e. changes to minimum wage I market conditions. Following the annual staff appraisal process the board of Iruslees will meet lo discuss outcomes including any changes lo role or remuneration. Any staff member who also sils on the board of trustees is not part of the discussion or decision-making regarding changes to his or her own remuneration. Equally, any trustee who is related to a staff member is excluded from discussions and decision-making related lo changes in remuneration to said staff member. Related Party Transactions.. 1. During the period Mr AJM Masters was employed in the role of senior pastor while also setving on the board of Iruslees. He was paid £46,199 by virtue of his employment by the charitable company. 2. During the period the partner of Mr JM Vmlkinson was employed in the role of compassion pastor. She was paid £22,750 by virtue of her employment by the charitable company. 3.There We no expenses paid to Iruslees during the period. Page 21
Docusign Envelope ID.. 347DE47E-2A31-496D-BD24-7EDC40094CAA Lagan Valley Vineyard Church DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 31.8.23 31.8.22 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid C Commission 883.649 153,193 8,540 359,995 75,308 7,961 1.045,382 443,264 Investmant income Deposit account interest 3.031 14 Total incoming resources 1,048.413 443,278 EXPENDITURE Charitable activities Wages Pensions Telephone Postage and slalionery Children and youth ministry VCUKI Compassion Connection Equip Mission Supplies and equipment Pathways Professional fees servIs Other stsff expenses Tribe Venue costs Worship production Property repairs Improvements to property Fixtures and fittings 255,548 4.442 1,788 1,619 33,094 13,248 29.209 39.931 6,775 693 8,130 531 10.812 18.461 14.460 223,511 132 704 20,149 16,606 33,293 7,216 2,431 6,350 6.790 1,170 3,472 16,770 29.578 167 62,576 3,137 1,827 7.782 814 77,655 1,481 3,476 7,004 908 529.265 444,475 Support costs Governance costs Auditors. remuneration 1,440 Total resources expended 530,705 444.475 Net incomèl{expendlture) 517,708 11,1971 This page does not form part of the statutory financial statements Page 22