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(England and Wales)
Company number: 08139530
Charity number: 1149023
VINECHURCH LONDON
For the year ended 31 July 2023
TRUSTEES' REPORT AND ACCOUNTS
2
For the year ended 31 July 2023
VINECHURCH LONDON
Contents Page
1 to 3
Report of the Trustees
4
Independent Examiner's Report to the Trustees
5
Statement of Financial Activities
6
Statement of Financial Position
7 to 12
Notes to the Financial Statements
3
For the year ended 31 July 2023
VINECHURCH LONDON
Report of the Trustees
The Trustees, who are also directors for the purposes of company law, present their report and the financial statements for the
charitable company for the year ended 31 July 2023. The Trustees have adopted the provisions of Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
EmpowermentWe raise members to be devoted to God, to be firm in fasting and prayer and walk in the supernatural, teaching and encouraging them to function in their callings and gifts. During the fiscal year 2022-2023, Vinechurch continued to make progress from the adaptations it had to make during the Covid pandemic. Following the cancellation of all lockdowns, the church members returned to regular attendance of church services. There is gradual but steady growth in our virtual attendance and regular Sunday services and other church programs. There is being a change in the pastoral and leadership level. Subscription to our YouTube channel has also grown. The intercessory ministry continued to hold regular meetings and set aside time weekly for praying and teaching, encouraging participants to function in their callings. Intercessory sessions were held online on Friday evenings and Sunday mornings. The Bible studies on Tuesdays also continue to be held virtually. During Sunday services members prayed for the nations of the world as well as the United Kingdom. During these sessions, members were encouraged to live a Christian lifestyle and function in their gifts and callings. Members participated in the corporate December and June prayer and fasting held for all of KICC and the teachings which took place daily at these times. The youth and children's ministries are thriving. The youth and children's church's activities continued through Zoom calls. The Caring House Fellowship (CHF) centre programs were held online with teaching materials provided.
Statement on public benefit
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
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For the year ended 31 July 2023
VINECHURCH LONDON
Report of the Trustees Continued
ACHIEVEMENTS AND PERFORMANCE
NumericalWe engage in sound Bible-based teaching and exhorted members to reach out in corporate and personal witnessing, discipleship and mentorship. True servanthood is about credibility, consistency, being an extra-miler, making selfless decisions, character, diligence and walking in the anointing. Summed up, it is about putting God first in everything. As has been the practice, members were all encouraged to reach out to each other and support any vulnerable neighbours in their local community by phone or online (Facebook, Skype, Zoom, etc.). The church should be contacted for welfare and signposting to other authorities if needed. Empowerment CentreWe participated in social activities, raising civic leaders and initiating social action programs. We collaborated with community groups, driving personal development, with a focus on education, career and enterprise. Vinechurch encourages all members to participate in social activities with local community groups and practise health and exercise activities online during this season. The church hopes to continue its community activities with the elderly in person when it is deemed safe to do so. The Vine women's ministry continued its activities and so also the Vine men's ministry Vinechurch offered welfare support to bereaved families and those who were experiencing hardship e.g., due to loss of job. CelebrationWe engage in consecrated, celebratory, contemporary, vibrant, uplifting and edifying Jesus-centred worship. The congregation is the 'choir', led by multi-generational worship teams who help engender corporate and personal commitment to worship in spirit and in truth" as a 24/7 lifestyle. SpiritualWe prepare people for eternity, teaching them to walk with God and in holiness, integrity and Christian maturity, manifesting the fruit of the Holy Spirit. Our Sunday services have themed messages to address everyday Christian living and to empower participants to be civil citizens and responsible members of the community. International / OrganisationWe help plant other ministries through the KICC national forum, seeding, sending and serving until the gospel is preached in all nations. Again, as in previous years, Christmas hampers were given to members of the local community. This was done in collaboration with Peabody Community Foundation and other local voluntary bodies. FinanciallyWe aim to raise kingdom millionaires by teaching biblical financial principles to our members and encourage a lifestyle of financial literacy and stewardship.The Vinechurch business forum kept members updated and informed on their business ventures through a series of both virtual and actual breakfast events.
FINANCIAL REVIEW
In the twelve months under review, total income was £148,608; (2022: £121,588) and total expenditure was £131,116; (2022: £145,842). Net results for the year were £17,492; (2022: (£24,254)) and carries forward funds of £164,201; (2022: £146,709).
Reserves
The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to continue the Charity's activities. The Trustees reserves can sustain the charity for more than 3 months of unrestricted expenditure. The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to
continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of
accounting in preparing the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is registered as a charitable limited company, limited by guarantee, as defined by the Companies Act 2006 and is
governed by its memorandum and articles of association dated 11 July 2012.
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For the year ended 31 July 2023
VINECHURCH LONDON
Report of the Trustees Continued
REFERENCE AND ADMINISTRATIVE INFORMATION
VINECHURCH LONDON
Name of Charity
Charity registration number
1149023
08139530
Company registration number
The Link, Arch F
Principal address
Bazalgette Way
London
SE2 9BS
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Emmanuel Akingbade
(Resigned: 10 February 2024)
Ms Cecilla Anderson
Dr Clementina Emmanuel (Resigned on 08/04/2023)
(Resigned: 08 April 2023)
Mr Macaulay Adeji (appointed on 08/04/2023)
(Appointed: 08 April 2023)
Mr Jaffrey Salako
(Appointed: 10 February 2024)
Tolu Obisesan
Independent examiner
ANS Accounts Ltd
82A James Carter Road
Mildenhall
Suffolk
IP28 7DE
.............................................................................
Approved by the Board of Trustees and signed on its behalf by
22 April 2024
Mr Macaulay Adeji
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For the year ended 31 July 2023
VINECHURCH LONDON
Independent Examiners Report to the Trustees
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 July 2023.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me
cause to believe that in any material respect:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give
a 'true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice
for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in
this report in order to enable a proper understanding of the accounts to be reached.
Tolu Obisesan
ANS Accounts Ltd
82A James Carter Road
Mildenhall
Suffolk
IP28 7DE
22 April 2024
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For the year ended 31 July 2023
VINECHURCH LONDON
Statement of Financial Activities (including Income and Expenditure Account)
Notes
2022
2023
Restricted
funds
Unrestricted
funds
£
£
£
£
Income and endowments from:
Donations and legacies
148,608
121,588
1,740
146,868
2
Total
148,608
121,588
1,740
146,868
Expenditure on:
Charitable activities
(129,376)
(1,740)
(131,116)
(145,842)
3/4
Total
(131,116)
(145,842)
(1,740)
(129,376)
17,492
(24,254)
-
17,492
Net income/expenditure
Reconciliation of funds
Total funds brought forward
170,963
146,709
5,608
141,101
Total funds carried forward
158,593
5,608
164,201
146,709
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08139530
Registered Number :
As at 31 July 2023
VINECHURCH LONDON
Statement of Financial Position
£
£
Notes
2023
2022
Fixed assets
Tangible assets
7,373
2,229
10
7,373
2,229
Current assets
5,900
-
11
Debtors
Cash at bank and in hand
171,999
163,046
177,899
163,046
Creditors: amounts falling due within one year
(21,071)
(18,566)
12
Net current assets
156,828
144,480
Total assets less current liabilities
164,201
146,709
Net assets
164,201
146,709
The funds of the charity
Restricted income funds
13
5,608
5,608
Unrestricted income funds
13
158,593
141,101
Total funds
164,201
146,709
For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
22 April 2024
Mr Macaulay Adeji
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For the year ended 31 July 2023
VINECHURCH LONDON
Notes to the Financial Statements
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. VINECHURCH LONDON meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.
Funds
Unrestricted funds are available for use at the discretion of the Committee in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions set out by donors as to how those funds may be used.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.
Charitable activites
Charitable activities are those costs relating to activities carried out to meet the objectives of the charity and include directly
attributed costs as well as support costs.
Allocation and appointment of costs
Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Per annum on cost
Leasehold Improvements
20% per annum on cost
Equipment & Furniture
20% per annum on cost
Computer Equipment
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For the year ended 31 July 2023
VINECHURCH LONDON
Notes to the Financial Statements Continued
2. Income from donations and legacies
2022
2023
Restricted
funds
Unrestricted
funds
£
£
£
£
Donations received
121,588
148,608
1,740
146,868
121,588
148,608
1,740
146,868
3. Costs of charitable activities by fund type
2022
2023
Restricted
funds
Unrestricted
funds
£
£
£
£
110,031
1,740
115,391
111,771
Charitable activities
19,345
-
30,451
19,345
Support costs
129,376
1,740
145,842
131,116
4. Costs of charitable activities by activity type
2022
2023
Support costs
Activities
undertaken
directly
£
£
£
£
Support costs
Charitable activities
131,116
19,345
111,771
145,842
5. Analysis of support costs
2022
2023
£
£
Charitable activities
Management costs
14,909
25,064
Governance costs
4,436
5,387
30,451
19,345
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For the year ended 31 July 2023
VINECHURCH LONDON
Notes to the Financial Statements Continued
6. Net income/(expenditure) for the year
This is stated after charging/(crediting):
2023
2022
£
£
Depreciation of owned fixed assets
2,718
5,892
Accountancy fees
4,436
5,387
7. Staff costs and emoluments
2023
2022
1
Staff
1
1
1
Staff give their time freely and are not paid any remunerations.
8. Trustee remuneration and related party transactions
There are no trustees remunerations this year or in the previous year.
There were no related party transactions in this year or in the previous year.
9. Comparative for the Statement of Financial Activities
2022
Restricted
funds
Unrestricted
funds
£
£
£
Income and endowments from:
Donations and legacies
121,588
1,530
120,058
Total
121,588
1,530
120,058
Expenditure on:
Charitable activities
(145,842)
-
(145,842)
Total
(145,842)
-
(145,842)
(24,254)
1,530
(25,784)
Net income/expenditure
Reconciliation of funds
Total funds brought forward
170,963
4,078
166,885
Total funds carried forward
141,101
5,608
146,709
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For the year ended 31 July 2023
VINECHURCH LONDON
Notes to the Financial Statements Continued
10. Tangible fixed assets
Computer
Equipment
Equipment &
Furniture
Leasehold
Improvements
Total
Cost or valuation
£
£
£
£
97,596
5,201
43,072
49,323
At 01 August 2022
7,862
2,549
5,313
-
Additions
At 31 July 2023
49,323
48,385
7,750
105,458
Depreciation
95,367
3,764
42,280
49,323
At 01 August 2022
Charge for year
2,718
1,170
1,548
-
98,085
4,934
43,828
49,323
At 31 July 2023
Net book values
At 31 July 2023
At 31 July 2022
-
-
4,557
792
2,816
1,437
7,373
2,229
11. Debtors
2023
2022
£
£
Amounts due within one year:
Prepayments and accrued income
5,900
-
5,900
-
12. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
21,071
18,566
21,071
18,566
13. Movement in funds
Unrestricted Funds
Balance at
01/08/2022
Incoming
resources
Outgoing
resources
Balance at
31/07/2023
£
£
£
£
General
141,101
146,868
(129,376)
158,593
General
141,101
146,868
(129,376)
158,593
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For the year ended 31 July 2023
VINECHURCH LONDON
Notes to the Financial Statements Continued
Unrestricted Funds - Previous year
Balance at
01/08/2021
Incoming
resources
Outgoing
resources
Balance at
31/07/2022
£
£
£
£
General
166,885
120,058
(145,842)
141,101
General
166,885
120,058
(145,842)
141,101
Purpose of unrestricted Funds
General
Unrestricted funds are available for use at the discretion of the Committee in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted Funds
Balance at
01/08/2022
Incoming
resources
Outgoing
resources
Balance at
31/07/2023
£
£
£
£
General
5,608
5,608
1,740
(1,740)
5,608
1,740
(1,740)
5,608
Restricted Funds - Previous year
Balance at
01/08/2021
Incoming
resources
Outgoing
resources
Balance at
31/07/2022
£
£
£
£
General
5,608
4,078
1,530
-
4,078
1,530
-
5,608
Purpose of restricted funds
General
Restricted funds are subject to specific conditions set out by donors as to how those funds may be used.
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For the year ended 31 July 2023
VINECHURCH LONDON
Notes to the Financial Statements Continued
14. Analysis of net assets between funds
Tangible fixed
assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
Unrestricted funds
General
7,373
151,220
158,593
General
Restricted funds
-
5,608
5,608
General
7,373
156,828
164,201
Previous year
Tangible fixed
assets
Net current
assets /
(liabilities)
Net Assets
£
£
£
Unrestricted funds
General
2,229
138,872
141,101
General
Restricted funds
-
5,608
5,608
General
2,229
144,480
146,709
15. Company limited by guarantee
VINECHURCH LONDON is a company limited by guarantee and accordingly does not have a share capital.
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