2022-12-31-accounts - Venture Church (Milton Keynes)

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Trustees		Mark Sherratt,	Senior	Pastor
		Virginia Brown
		Peter Takacs
		Omotayo Kufeji
		Joseph Amaeze
		Jon Keel			(Appointed	8 March 2022)
		Gabrielle Osei			(Appointed	8 lAsch 2022)
		John Eh			(Appointed	8 March 2022)
		Fata Komolafe,	Chair
Secretary		hn Baird
Charity number		1119304
Company	number	05982564
Registered	office	Strudwick Drive
		Oldbrook
		Milton Keynes
		MK62TG
Auditor		Crouchers ttd
		2Copperhouse	Court
		Caldecotte Business		Park
		Milton Keynes
		8uckinghamshire
		England
		S4K7 8NL
Bankers		Natwest Bank P'a
		K)I Silbury Boulevard
		Saxon Gate East
		Milton Keynes
		MK9 3ER
Solicitors		Geldards liP
		Dumfries House
		Dumfiies Phce
		Cardiff
		CF1032F

Trustees' report	Trustees' report
Independent	auditor's		report
Consolidated	statement		offinancial	acfiriTim
Consolldaled	balance		sheet
Charity bahrnce sheet
Consolidated	shtement		ofcash fiows
Nates Sr fire	finandel	statements

Current financial	year
					Unrestricted	Resbtcaed		Tabil
					funds	funds
					2ttu	2022
				Notes	6	E
fnaome from:
Income from donations		and legacies		2	1,063,456	157,412	1,220,868	1,034271
Income from Other	trading		actiVities	3	963,607	3,449	967,056	770,247
Other income				4				78,142
investment income				5	75,699		75,699	73,441
Total income					2,102,762	160,861	2,263,623	1,956,101
EttgmdftttaaJtg'
Expenditure cn raising funds
Fundiaising trading	expenses			6	97,309		97,309
Other trading expenses				6	41,800		41,800	17,923
					139,109		139,109
Charitable activities	expenditure			7	1,823,102	119,331	1,942,433	1,754,619
Other expenditure							4,588
Total expenditure					1,966,799	119~1	2,086,130	1,850,385
Nst incoming resources			before transfers		135,963	41,530	177,493	105,716
Gross transfers between		funds			35,717	(17,794)	17,923
Net movement h funds					171,680	23,736	195,416	105,716
Find balances at 1January 2022					2,799,519	228,229	3,027,748	2,922,032
Fund balances R	3t December 2022				2,971,199	251,965	3,223,164	3,027,748

					2022		2921
							8
Fixed assets
Tangible assets				12		2,743,526		2,833,994
Current assets
Debtors				15	57,497		29,424
Cash at bank and h		hand					579,102
					694,105		608,526
Creditonn	amounts	falling	due within
one year				16	(214,467)		(157,864)
Net cunant	assets
Total assets less current			liabilities			3,223,164		3,284,656
Creditors:	amounts	falling	due after
mom than	one year			17				(256,908)
Net assets						3,223,164		3,027,748
Income funds
Restricted	funds			18		251,965		228,229
Uftrrtn~if	funds
Designated	funds			19	2,971,199		2,799,519
						2,971,199		2,799,519
						3,223,164		3,027,748

						2022		2021
						E
Fixed assets
Tangible assets							2,742,258	2,832,101
Investments							100	100
							2,742,358	2,832,201
Current assets
Debtors					15	49,821		42,183
Cash at bank and h			hand			590,031		540,308
						639,852		582,491
Creditors:	amounts		falling due within
one year					16	(159,495)		(130,244)
Net current	assets						480,357	452,247
Total assets less current				liabilities			3,222,715	3,284,448
Creditors:	amounts		falling	due attar
more than	one	year						(256,908)
							3,222,715	3,027,540
Income funds
Restricted	funds						251,965	257,812
td&h		d
Designated	funds				19	2,970,750		2,769,728
							2,970,750	2,769,728
							3,222,715	3,027,540

				Notes	2022 8		2021 f	8
Cash flows from operating		activities
Cash generated from operations						307,020		1,478
Investing	activities
Purchase	oftangible fixed assets				(50,419)		(36,539)
Proceeds	from disposal oftangible		fixed
assets
Purchase	of investments						(100)
Proceeds from disposal of		investments					IX
Investment	income received				75,699		73,411
Net cash generated from		investing
activities						31,113		37,139
Financing	activities
Repayment	of borrowings				(256,908)
Repayment	of bank kxrns				(23,719)
Net cash used h financing		activities				(280,627)
Net increase h cash and cash equivalents						57,506		38,617
Cash and	cash equivalents	at beginning		ofyear		579,102
Cash and	cash equivalents	at end	ofyear					579,102

	Other ministry income
	Childcare income
	Coffee shop and conferencing	income
	Analysis by fund
	Unrestricted funds
	Restricted funds
4	Other income

	Furlough income
5	Investment income
	Rental income
	Interest receivable

Inmme from	Income finm
Other	Other
trading	trading
adtvibas	adivibes
2022	2021
6	f.
24,911	9,714
809,487	688,775
132,658	71,758
967,056	770,247
963,607	768,525
3,449	1,722
967,056	770,247

Teal	Unresbf dad
	funds
2022	2021
f.	8
	78,142
Unresbictad	Unresbidad
funds	funds
2022	2021
	f.
74,366	73,384
1,333	57
75,699	73,441

6	Expenditure	on	raising funds	raising funds
	Fundraising	trading expenses
					Unrestricted	Unrestricted
					funds	funds
					2022	2021
					E	E
	Fundmising	trading		expenses
	Charges against		rental income		6,698	6,290
	Trading costs				90,611	66,058
	Fundraising	trading		expenses	97,309	72,34S
	Other trading	expenses
	Trading profits gift			aided to the charity	41,800	17,923
					139,109	90,271
7	Charitable acbvRies expenditure
						Amounts
						Reclassified
					2022 E	2021f
	Childcare costs				622,115	591,263
	Ministry costs				752,388
	Mission giving ( Governance costs			See below)	155,915 6,133	136,739 8,052
	Property and	administnstion			405,882	363,169
						1,754,619
					1,942,433	1,754,619
	Analysis by	fund
	Unrestricted	funds			1,823,102	1,661,500
	Restricted funds				119,331	93,119
					1,942,433	1,754,619

Fees	payable tn the	Charity's auditor and associates:	2022 f	2021 f
Audit	ofthe Charity's	annual accounts	5,100	5,100

Trust	ees has been paid remuneration or	has received other benefits from their e	mployment w
		2022f	2021f
Mark	Sherratt	59,151	53,140
Foja	Komolafe	49,350	43,120
John	Keel	36,996

Other ex	penditure
		Unresbicted	Unrestricted
		funds	funds
		2022	2021
			E
Financing	costs	4,588	5,495

				Flxhlresl
				iltungs end
Cunent financial year			Freehold land and buildings	offlce ettulplnent	Motor vehicles	Total
			F	6	F	s
Cost
At 1January	2022		3,808,145	305,648	14,750	4,128,543
Additions			21,913	28,506		50,419
Disposals			(14,561)	(23,555)		(38,116)
At 3I December 2022			3,815,497	310,599	14750	4140846
Depreciation	and impairment
At 1January	2022		1,042,777	238,989	12,783	1,294,549
Depmciation	charged	h the year	106,106	26,961	1,967	135,054
Eliminated h	respect	ofdisposah	(8,728)	(23,555)		(32,283)
At 3l December 2022			1,140,155	242,415	14,750	1,397,320
Carrying amount
At 3l December 2022			2,675,342	68,184		2,743,526
At 3l December 2021			2,765,368	64,787	1,967	2,833,994

							Fixtures,
							fittings end
	Cunanf financial year					Freehold land end buildings	office equipment	Meter vehides	Total
						R	R	R	4
	Cost
	At 1January 2022					3,808,145	300,631	14,750	4,123,526
	Additions					21,913	28,509		50,422
	Disposals					(14,561)	(23,555)		(38,116)
	At 3l December 2022					3,815,497	305,585	14,750	4,135,832
	Depreciation and impairment
	At 1 January 2022					1,042,777	235,868	12,783	1,291,428
	Depreciation charged	h	the year			106,106	26,356	1,967	134,429
	Eliminated n respect ofdisposals					(8,728)	(23,555)		(32,283)
	At 3l December 2022					1,140,155	238,669	14,750	1,393,574
	Carrying amount
	At 3l December 2022					2,675,342	66,916		2,742,258
	At 3l December 2021					2,765,368	64,763	1,967	2,832,098
	Financial instruments					Group	Group	Charity	Charity
						2022f	2021 f	2022 f	2021 f
	Carrying amount offinandaf				assets
	Instruments measured	at	fair	value through
	profit or loss					636,608	579,102	590,031	540,308
15	Debtors					Group	Group	Charily	Charity
	Amounts falling due within			one year:		2022f	2021f	2022 R	2021f
	Trade debtors					25,789	8,179	3,417	1,417
	Amounts owed by fellow group				undertakings				20,077
	Other debtors					23,262	14,243	23,262	14,243
	Prepayments and accrued		income			8,446	7,002	8,142	6,446
						57,497	29,424	34,821	42,183

16	Creditors:	amounts	amounts	faging	faging	due within	one year
							Group	Group	Charity	Charity
							2022 6	2021	2022 8	2mlf
	Bank bans							23,719		23,719
	Ohsr taxstbn		and axial		securily		29,652	15,726	28,004	14,520
	Trade aeditors						48,120	29,413	41,096
	Amount owed		to assodated			uxtsrtaking	51,370	26,887	9,570	8,935
	Cther cream						22,849		20,848	17,329
	Accruats and		deferred	income			62,476	36,715	31,268	36,715
							214,467		130,786	130,244
17	Creditors:	amounts		falling		due alter	more than one year
							Group	Group		Charity
							2022	2021		2ml
							8	8		8
										256,908

			Movement h	funds			Mavement	h funds
	Balance m	Incoming	Resources	Transfers	Balance at	Incoming	Resources	TransFers	Balance at
	11anuarV		expended		11anuarr	msolrrcss	expended		Bi December
	2S21				2D21				2S22
	5				8
Allln	208,388		(19,029)	(50,027)	198,934	159,134	(104,407)	(19,516)	234,145
			(88,000)
			(333)
	1,714	1,722			3,436				6,885
			P,757)	(112)	25,859		(14,924)		10,935
	210,435	161,052	(93,119)	(50,139)	228,229	162,583	(119,331)	(19,516)	251,965

		Movement in funds	Movement in funds				Movement	at funds
	Balance at	Incorrlln9	Resources	Transfers	Balance at	Incumlng	Resuurcas	Transfers	Balance at
	12anuary	resources	expended		12anuary	resources	expended		31 December
	2021				2021				2022
	g				g				g
General	Funds
AS funds	2,193,'l55	1,795,049	(1,757,266)	50,139	2,281,077	2,102,762	(1,966,799)	35,717	2A52,757
Fixed
SSSSIS	518,442				515,442				519,442
	2,711,597	1,795,049	(1,757,266)	50,139	2,799,519	2,102,762	(1,966,799)	35,717	2,971,199

Analysis ofnet assets	bebseen funds
	Unresbtcted	Restricted	Total	Unresbidad	Restricted	Total
	funds	funds		funds	funds
	2022	2022	2022	Zm	202t
	R	R	R	R	6
Fml bahnces at 3I December 2022 em ~ by. Tangilhh assels	2,743~		2,743,526	2,833,994		2,833894
Cwrent assels/ghbllghs)	227,673	251,965	4794%	222,433	2282B	450,662
Long term liabilibes				(256@8)	-	(2568$)
	2$7L199	251,965	3g?3,164	2.799419	228229	3,027,748

The prindpal contacts	and ad	dres	ses of LightFmce Int	ses of LightFmce Int	ernafional ard Into	the Community are:
MrG Ridley			hll' km Baird
LightForce International			Into the Community
Strudwick Drive			Strudwick	Drive
Oldbrook			Oldbrook
Milton Keynes			Milton Keynes
MK6 2TG			MK62TG
www. lightforce. org.uk			www. mkfood bank.org.uk
Cash generated from	operations					2022 f
Surplus for the year						195,416
Adjustments for.
Investment income recognised		h	statement	offinancial	acfivities	(75,699)	(73,441)
Depreciation and impairment		oftangible fixed assets				135,054	138,471
Movements h working	capital:
(Increase)/decrease h	stocks						1,125
(Increase) n debtom						(28,073)	(3,340)
Increase h creditors						80,322	55,244
(Decrease) n deferred	Income						(60,144)
Cash generated from	operations					307,020	1,448

Analysis ofchanges	at net funds
		At 1Jaaaary	Cash flows	At sl Oecember
		2022		stl22
		8	f.	5
		579,102
Loans falling due within	one year	(23,719)	23,719
Loans falling due after	more than one year	(256,908)	256,908
		298,475