2021-12-31-accounts - Venture Church (Milton Keynes)

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			Page
Reference and administrative		details ofthe Charity, its Trustees and advisers
Trustees' report			2-16
Independent	auditor's report	on the financial statements	17-20
Consolidated	statement offinancial activities		21
Consolidated	balance sheet		22-23
Charity balance sheet			24-25
Consolidated	statement ofcash flows		26
Notes to the	financial statements		27-45

Trustees			Fola Komolafe,	Chair	Chair
			Mark Sherratt,	Senior		Pastor
			Billy Ritchie, Associate			Pastor (resigned		8 June 2021)
			Virginia Brown
			Bola Odunlami	(resigned			8 March 2022)
			Andrew Kiff (resigned			5	January 2022)
			Peter Takacs
			Omotayo Kufeji
			Joseph Amaeze
			Jon Keel (appointed		8	March 2022)
			Gabrielle Osei	(appointed			8 March 2022)
			John Els (appointed		8	March 2022)
Company	registered
number			05982564
Charity registered
number			1119304
Registered		office	Strudwick Drive
			Oldb rook
			Milton Keynes
			MK6 2TG
Company	secretary		lan Baird
Independent		auditor	MHA Maclntyre	Hudson
			Chartered Accountants
			Statutory Auditors
			Moorgate House
			201 Silbury Boulevard
			Milton Keynes
			Bucking hamshire
			MK9 1LZ
Bankers			NatWest Bank	Pic
			501 Silbury Boulevard
			Saxon Gate East
			Milton Keynes
			MK9 3ER
Solicitors			Geldards LLP
			Dumfries House
			Dumfries Place
			Cardiff
			CF103ZF

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2021f	2021f	2021f	2020
Income from:
Donations and legacies			874,941	159,330	1,034,271	1,026,433
Other trading activities			768,525	1,722	770,247	692,896
Investments			73,441		73,441	74,927
Other income			78,142		78,142	145,019
Total income			1,795,049	161,052	1,956,101	1,939,275
Expenditure on:
Raising funds			90,271		90,271	75,019
Charitable activities			1,661,500	93,119	1,754,619	1,728,737
Other expenditure			5,495		5,495	8,267
Total expenditure			1,757,266	93,119	1,850,385	1,812,023
Net income			37,783	67,933	105,716	127,252
Transfers between	funds	20	50,139	(50,139)
Total transfers			50,139	(50,139)
Net movement in	funds		87,922	17,794	105,716	127,252
Reconciliation of	funds:
Total funds brought	forward		2,711,597	210,435	2,922,032	2,794,780
Net movement in funds			87,922	17,794	105,716	127,252
Total funds carried forward			2,799,519	228,229	3,027,748	2,922,032

			Note		2021f		2020
Fixed assets
Tangible assets			13		2,833,994		2,936,192
					2,833,994		2,936,192
Current assets
Stocks			15			1,125
Debtors			16	29,424		26,084
Cash at bank and	in hand			579,102		540,485
				608,526		567,694
Creditors: amounts	falling due within one
year			17	(157,864)		(162,763)
Net current assets					450,662		404,931
Total assets less	current liabilities				3,284,656		3,341,123
Creditors: amounts	falling due after more
than one year			18		(256,908)		(419,091)
Net assets excluding		pension asset			3,027,748		2,922,032
Total net assets					3,027,748		2,922,032
Charity funds
Restricted funds			20		228,229		210,435
Unrestricted funds			20		2,799,519		2,711,597
Total funds					3,02'7,748		2,922,032

					2021		2020
			Note		E
Fixed assets
Tangible assets			13		2,832,101		2,935,684
Investments			14		100		100
					2,832,201		2,935,784
Current assets
Stocks			15			1,125
Debtors			16	42,183		43,003
Cash at bank and	in hand			540,308		525,452
				582,491		569,580
Creditors: amounts	falling due within one
year			17	(130,244)		(157,508)
Net current assets					452,247		412,072
Total assets less	current liabilities				3,284,448		3,347,856
Creditors: amounts	falling due after more
than one year			18		(256,908)		(419,091)
Net assets excluding		pension asset			3,027,540		2,928,765
Total net assets					3,027,540		2,928,765
Charity funds
Restricted funds			20		257,812		210,435
Unrestricted funds			20		2,769,728		2,718,330
Total funds					3,027,540		2,928,765

		2021	2020
		E
Cash flows from operating activities
Net cash used in operating activities		1,478	215,806
Cash flows from investing activities
Investment income		73,411	74,927
Proceeds from the sale oftangible fixed assets		267
Purchase oftangible fixed assets		(36,539)	(224,186)
Net cash provided by/(used in) investing	activities	37,139	(149,259)
Cash flows from financing activities
Cash inflows from new borrowing			113,001
Net cash provided by financing activities			113,001
Change in cash and cash equivalents in	the year	38,617	179,548
Cash and cash equivalents at the beginning	ofthe year	540,485	360,937
Cash and cash equivalents at the end of	the year	579,102	540,485
The notes on pages 27 to45 form part ofthese financial statements

Freehold property	- 2%/10%
Motor vehicles	20%
Fixtures and fittings	- 20% / 25% / 333%
Office equipment	- 25%

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2021	2021	2021	2020
	E	E
Donations
Tithes and offerings	738,984		738,984	723,854
All In income		59,602	59,602	79,046
Mission Income		66,000	66,000	(95,478)
Gift Aid Received	135,957		135,957	128,055
Subtotal detailed disclosure	874,941	125,602	1,000,543	835,477
Grants		33,728	33,728	190,956
Subtotal		33,728	33,728	190,956
	874,941	159,330	1,034,271	1,026,433
Total 2020	851,909	174,524	1,026,433

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2021	2021	2021	2020
					F		f.
Other ministry		income		9,714		9,714	23,541
Childcare	income			687,053	1,722	688,775	607,767
Coffee shop and conferencing			income	71,758		71,758	61,588
				768,525	1,722	770,247	692,896
Total 2020				692,246	650	692,896

		Unrestricted	Total	Total
		funds	funds	funds
		2021f	2021 E	2020
Rental	income	73,384	73,384	74,552
Bank	interest	57	57	375
		73,441	73,441	74,927

		Unrestricted	Total	Total
		funds	funds	funds
		2021	2021	2020
		E
Furlough	income	78,142	78,142	145,019
		78,142	78,142	145,019

				Unrestricted	Total	Total
				funds	funds	funds
				2021f	2021f	2020f
Trading	costs			66,058	66,058	68,844
Charges	against	rental	income	6,290	6,290	6,175
				72,348	72,348	75,019

							Unrestricted	Total	Total
							funds	funds	funds
							2021	2021f	2020
Trading	profits	gift	aided	to	the	charity	17,923	17,923

		Unrestricted	Restricted
		funds	funds	Total	Total
		2021	2021 f.	2021	2020f
Childcare costs		591,263		591,263	616,824
Ministry costs		672,492	18,921	691,413	633,476
Mission giving		34,722	66,000	100,722	130,402
Property and	administration	354,971	8,198	363,169	340,373
Governance	costs	8,052		8,052	7,662
		1,661,500	93,119	1,754,619	1,728,737
Total 2020		1,522,652	206,085	1,728,737

					Unrestricted	Total	Total
					funds	funds	funds
					2021	2021	2020
					F	E	E
Interest	paid	on	Natwest	loan	5,495	5,495	8,267

			Activities
			undertaken	Support	Total	Total
			directly	costs	funds	funds
			2021	2021	2021	2020
			E	E	F	F
Childcare costs			89,900	501,363	591,263	616,824
Ministry	costs		288,931	402,482	691,413	633,476
Mission	giving		100,722		100,722	130,402
Property	and	administration	242,168	121,001	363,169	340,373
Governance		costs		8,052	8,052	7,662
Total 2021			721,721	1,032,898	1,754,619	1,728,737
Total 2020			705,337	1,023,400	1,728,737

			2021	2020
			F
Fees payable to the Charity's	auditor for the audit ofthe Charity's	annual
accounts			5,100	4,950

an e	mployment with the Chari	ty. The value ofTrustees' remunerati	on and oth	er benefits was a	s follows:
				2021	2020
				E
Billy	Ritchie	Remuneration		17,385	43,137
		Pension contributions	paid	1,104	2,588
Mark	Sherratt	Fees		53,140	53,209
Fola	Komolafe	Fees		43,120	42,300

	Freehold	Motor	Fixtures and	Office
	property	vehicles	fittings	equipment	Total
Cost or valuation
At 1 January 2021	3,796,607	14,750	291,730		4,103,087
Additions	12,438		22,229	1,872	36,539
Disposais	(900)		(10,184)		(11,084)
At 31 December 2021	3,808,145	14,750	303,775	1,872	4,128,542
Depreciation
At 1 January 2021	937,036	9,833	220,026		1,166,895
Charge for the year	106,641	2,950	28,879		138,470
On disposais	(900)		(9,917)		(10,817)
At 31 December 2021	1,042,777	12,783	238,988		1,294,548
Net book value
At 31 December 2021	2,765,368	1,967	64,787	1,872	2,833,994
At 31December 2020	2,859,571	4,917	71,704		2,936,192

	Freehold	Motor	Fixtures and
	property	vehicles	fittings	Total
		E		E
Cost or valuation
At 1 January 2021	3,796,607	14,750	287,946	4,099,303
Additions	12,438		22,229	34,667
Disposais	(900)		(9,544)	(10,444)
At 31 December 2021	3,808,145	14,750	300,631	4,123,526
Depreciation
At 1 January 2021	937,036	9,833	216,750	1,163,619
Charge for the year	106,641	2,950	28,395	137,986
On disposais	(900)		(9,277)	(10,177)
At 31 December 2021	1,042,777	12,783	235,868	1,291,428
Net book value
At 31 December 2021	2,765,368	1,967	64,763	2,832„098
At 31December 2020	2,859,571	4,917	71,196	2,935,684

	Investments
	in
	subsidiary
Charity	companiesf
Cost or valuation
At 1 January 2021	100
At 31 December 2021	100
Net book value
At 31 December 2021	100
At 31December 2020	100

The following	was a subsidiary undert	aking ofthe Charity:
Name		Company	Registered office		or principal		Holding
		number	place of	business
MKCC Limited		09924457	Christian	Centre Strudwick		Drive,	100%
			Oldbrook,	Milton Keynes,
			Buckinghamshire,		United
			Kingdom,	MK6 2TG
The financial	results ofthe subsidiary	for the year were:
Name					Profit for the yearf		Net assetsf
MKCC Limited					6,941		208

							Group	Group	Charity	Charity
							2021	2020	2021	2020
							F	F	F	F
	Finished goods		and goods for resale					1,125		1,125
16.	Debtors
							Group	Group	Charity	Charity
							2021	2020	2021	2020
							E	F	F
	Due within one year
	Trade debtors						8,179	7,533	1,417	4,341
	Amounts owed		by group undertakings						20„077	20,191
	Other debtors						1,230	194	1,230	114
	Prepayments	and accrued income					7,002	5,457	6,446	5,457
	Tax recoverable						13,013	12,900	13,013	12,900
							29,424	26,084	42,183	43,003
17.	Creditors: Amounts			falling	due within one year
							Group	Group	Charity	Charity
							2021	2020	2021	2020
							F	F	F	F
	Bank loans						23,719	23,718	23,719	23,718
	Trade creditors						29,413	36,820	29,026	36,792
	Amounts owed		to associated		undertakings		26,887		8,935
	Other taxation		and social security				15,726	17,129	14,520	16,157
	Other creditors						25,404	15,978	17,329	11,723
	Accruals and nursery			grant deferred		income	36,?15	69,118	36,715	69,118
							157,864	162,763	130,244	157,508

Financial	instruments
			Group	Group	Charity	Charity
			2021	2020	2021	2020
			F	F	F	F
Financial	assets
Measured	at amortised	cost	579,102	540,485	540,308	525,453

Statement	offunds - prior ye	ar
						Balance at
		Balance at				31
		1 January			Transfers	December
		2020	Income	Expenditure	in/out	2020
			F	E
Unrestricted	funds
General Funds - all funds		2,021,182	1,764, 101	(1,605,938)	13,810	2,193,155
Fixed asset		518,442				518,442
		2,539,624	1,764,101	(1,605,938)	13,810	2,711,597
Restricted	funds
All In		251,546	79,046	(108,394)	(13,810)	208,388
Mission			95,478	(95,478)
Konnect		333				333
Nursery		3,277	650	(2,213)		1,714
		255,156	175,174	(206,085)	(13,810)	210,435
Total offunds		2,794,780	1,939,275	(1,812,023)		2,922,032

Analysis	of n	et assets between funds - current	year
			Unrestricted	Restricted	Total
			funds	funds	funds
			2021	2021	2021
					E
Tangible	fixed	assets	2,833,994		2,833,994
Current	assets		380,297	228,229	608,526
Creditors	due	within one year	(157,864)		(157,864)
Creditors	due	in more than one year	(256,908)		(256,908)
Total			2,799,519	228,229	3,027,748

Analysis of net assets between funds - prior y	ear
	Unrestricted	Restricted	Total
	funds	funds	funds
	2020	2020	2020
		E	E
Tangible fixed assets	2,936,192		2,936,192
Current assets	357,259	210,435	567,694
Creditors due within one year	(162,763)		(162,763)
Creditors due in more than one year	(419,091)		(419,091)
Other unallocated	(2)		(2)
Ttl	2,711,595	210,435	2,922,030

					Group	Group
					2021	2020
					E
Net income for the	year	(as per Statement		of Financial Activities)	105,716	$27,252
Adjustments for:
Depreciation charges					138,470	130,521
Other interest receivable		and similar income			(73,411)	(74,927)
Decrease in stocks					1,125	103
Decrease/(increase)	in debtors				(3,340)	33,604
Decrease in creditors					(167,082)	(747)
Net cash provided	by operating		activities		1,478	215,806

		Group	Group
		2021	2020
		F	F
Cash	in hand	579,102	540,485
Total	cash and cash equivalents	579,102	540,485

			At 1		At 31
			January		December
			2021	Cash flows	2021
					F
Cash	at bank and	in hand	540,485	38,617	579,102
Debt	due within 1	year	(23,718)	(8,610)	(32,328)
Debt	due after 1 year		(419,091)	162,183	(256,908)
			97,676	192,190	289,866

payments	und	er non-cancellable operating lease	s as follows:
			Group	Group	Charity	Charity
			2021	2020	2021	2020
			E	E	F	E
Not later than		1 year	3,158	4,211	3,158	4,211
Later than	1 year and not later than 5years			3,158		3,158
			3,158	7,369	3,158	7,369

The principal contacts and	addresses of LightForce Intern
Mr G Ridley	Mr lan Baird
LightForce International	Into the Community
Strudwick Drive	Strudwick Drive
Oldb rook	Oldb rook
Milton Keynes	Milton Keynes
MK6 2TG	MK6 2TG
www. Iightforce. org.uk	www. mkfoodbank. org.uk