**Charity number: 1132352** ## **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2023** ## **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 15| **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023** **Trustees** Dr G Toworfe Rev J Addo Rev M Ayisi **Charity registered number** 1132352 ## **Principal office** 3 Shipman Court Willen Park Milton Keynes Buckinghamshire MK15 9DB ## **Accountants** GIL Accountancy Services 177 Ballens road Chatham Kent ME5 8PG Page 1 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023** The Trustees present their annual report together with the financial statements of the BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES for the 1 April 2022 to 31 March 2023. ## **Objectives and activities** ## **. Policies and objectives** Bible Life Family Ministries was registered as a charity on 27 Oct 2009. It has a three-member board of trustees. The primary aims of the Trust are to fulfil the responsibilities of the Church in Milton Keynes and to promote the wellbeing of humanity as a whole. We also aim to provide help to all people with the view to advancing the Christian Faith in towns, cities and counties in the United Kingdom and overseas. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **. Aims** BLFM-MK has been committed to preaching and teaching the uncompromising Word of God. We hold the Word of God as the final and absolute authority in all issues of life. Our focus is the development of the complete person (spirit, soul and body) for the benefit of humanity. We aim to build strong, healthy and enduring families who will contribute to local and national life. We also help relieve poverty and hardship through our welfare programmes. ## **. Activities undertaken to achieve objectives** The Church has several activities which are focused on achieving our aims. Our activities include weekly Bible studies and teachings, weekly Sunday school for children, counselling, corporate quarterly fasting and prayer, evangelistic outreaches and welfare programmes. A prayer force to pray for the nation and all those in authority. ## **Achievements and performance** ## **. Main achievements of the Charity** The Church has kept at pursuing its aims and objectives. Weekly youth programmes have been inspiring, progressive and impactful. Meetings focused on and addressed their needs, concerns and aspirations.We supported families to lay sound foundation in the life of the children and enrich the family as a whole. Weekly Sunday school was effective in contributing to the positive development of the children. Woman Arise, a yearly programme aimed at empowering women to be effective and fruitful in their role was successful. Corporate Prayer Force was held weekly to address individual, corporate and national needs and concerns. We continue to support those in need and the advancement of the Gospel of Jesus Christ. **Financial review** Page 2 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **. Reserves policy** The Charity seeks to maintain reserves which match any obligation, such as to employees, and to ensure sustainability beyond the next quarter. The target is to build and maintain unrestricted reserves equating to three months normal expenditure. At the balance sheet date, the unrestricted reserves stood at £381 (2022 - £2,824). ## **. Principal funding and administration** The Church is funded by wilful donations from members and other interested individuals. Our transaction records are kept by appointed non-paid members of the Church. Financial decisions are made by the Trustees in consultation with the Church leadership who have the biblical oversight. Trustees are responsible for creating and monitoring budgets. They also have the powers of appointment or removal of any Trustee with the approval of the Church leadership. New Trustees are primarily selected from the members of the Church or from the leaders of other local churches sharing the same vision. When new trustees are appointed, the existing Trustees spend time to train them to ensure they understand their responsibilities and the legal and financial framework in which the Church operates. ## **Structure, governance and management** ## **. Constitution** BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES is a registered charity, number 1132352, and is constituted under a Trust deed. ## **. Methods of appointment or election of Trustees** The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. ## **. Financial risk management** The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Page 3 BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENOED 31 MARCH 2023 Plans for future pgrlods The Church aims to continue lo advance ils mission of saving souls, making disciples, raising 18aders, transforming lives and improving communities. The Church continues lo explore getting a per￿anent place of meeting lo promote ils mission and lo facililale our chartlable operations. This will help us to embark on our vision lo build A Bible and Healing School. We aim lo expand through planting churches in other parts of UK and the world. Conforencgs cenlred on achieving our aims will continue lo be held. Statement of Trustees. r•sponslbllltlos The Trustees are responsible lor preparing the Trusle85' report and the financial slalemenls in accor(Jance with applicable law and Uniled Kingdom Accounling Standards Iuniled Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England & Vvales requlres the TNsle8s lo prepare financial statements for each financial which give a true and fair view ol the slate ol affairs of the Charity and of ils incoming resources and application ol resources, inclijding ils inconie and expenditure, for that poriod. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply Ihgm consislenlly., observe the methods and principles of Ihg Charities SORP IFRS 1021,, make judgments and accounting eslimales that are reasonable and prudent., stale whether atr)plicable UK Accounting Standards IFRS 1021 have been followed, 8ubjecl lo any material departures disclosed and explained in the Ilnancial slalemenls., prepare the financlal slalemenls on the going concem basis unless il Is inapproprlale lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are SLgflicienl lo show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position ol the Charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also resr)onsible for safeguarding the asseis ol the Charity and hence lor taking reasonable steps for the prevention and detection of fraud and other Irregularities. Approved by order ol the members ol the board of Trustees on 24 January 2024 and signed on their behalf by.. Rev J Addo (Chair of Trusleesl Page 4 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023** ## **Independent Examiner's Report to the Trustees of BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023. ## **Responsibilities and Basis of Report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent Examiner's Statement** Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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 Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Signed: Dated: 24 January 2024 D Tabiri FCCA ACIE 177 Ballens Road Chatham, ME5 8PG Page 5 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**Note**
**Income from:**
Donations and legacies
3
**Total income**
**Expenditure on:**
Raising funds
4
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**25,667**
**25,667**
**1,048**
**27,063**
**28,111**
**(2,444)**
**2,825**
**(2,444)**
**381**|**Total**
**funds**
**2023**
**£**
**25,667**
**25,667**
**1,048**
**27,063**
**28,111**
**(2,444)**
**2,825**
**(2,444)**
**381**|_Total_
_funds_
_2022_
_£_
_26,328_
_26,328_
_1,723_
_32,055_
_33,778_
_(7,450)_
_10,275_
_(7,450)_
_2,825_| |---|---|---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 15 form part of these financial statements. Page 6 BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES BALANCE SHEET AS AT 31 MARCH 2023 2023 Noto 2022 Fixed assets Current assets Cash al bank and in hand 763 2,825 763 2,825 Credilors., 8mounls f811ing due within one year 10 13821 Net Gurrent as¥?ts 381 2,825 Total assets loss current IlabllllS88 381 2,825 Net assets oxcludlng penslon asset 381 2,825 Total net a8sets 381 2,825 Charlty fundy Reslricled funds Unrestricted fund$ 381 2,825 Total funds 381 2,825 The financial slalemenls were approved and aulhorised for issu8 by the Trustees and signed on their beh81f by., Rev J Addo (Chair of Trusleesl Dale.. 24 January 2024 The notes on pages 8 10 15 form part ol these financial slalemenls. Page 7 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. General information** BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES is a registered charity, number 1132352, and is constituted under a Trust deed. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES 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. ## **2.2 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. ## **2.3 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. 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. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page 8 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **2. Accounting policies (continued)** ## **2.3 Expenditure (continued)** All expenditure is inclusive of irrecoverable VAT. ## **2.4 Government grants** Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred. ## **2.5 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.6 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. ## **2.7 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.8 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Page 9 ## **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2023**
**£**
Donations
25,667
_Unrestricted_
_funds_
_2022_
_£_
Donations
_22,888_
Government grants
_3,440_
_26,328_|**Total**
**funds**
**2023**
**£**
**25,667**| |---|---| ||_Total_
_funds_
_2022_
_£_
_22,888_
_3,440_| ||_26,328_| ## **4. Expenditure on raising funds Costs of raising voluntary income** ||**Unrestricted**|**Total**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2023**| ||**£**|**£**| |Church & Ministry expenses|1,048|**1,048**| Page 10 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **4. Expenditure on raising funds (continued)** ## **Costs of raising voluntary income (continued)** ||_Unrestricted_|_Total_| |---|---|---| ||_funds_|_funds_| ||_2022_|_2022_| ||_£_|_£_| |Church & Ministry expenses|_1,723_|_1,723_| ## **5. Analysis of expenditure on charitable activities** ## **Summary by fund type** |**Unrestricted**
**funds**
**2023**
**£**
Cost of generating funds
27,063
_Unrestricted_
_funds_
_2022_
_£_
Cost of generating funds
_32,055_|**Total**
**2023**
**£**
**27,063**| |---|---| ||_Total_
_2022_
_£_
_32,055_| Page 11 ## **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **6. Analysis of expenditure by activities** |Cost of generating funds
Cost of generating funds|**Activities**
**undertaken**
**directly**
**2023**
**£**
26,618
_Activities_
_undertaken_
_directly_
_2022_
_£_
_30,137_|**Support**
**costs**
**2023**
**£**
445
_Support_
_costs_
_2022_
_£_
_1,918_|**Total**
**funds**
**2023**
**£**
**27,063**| |---|---|---|---| ||||_Total_
_funds_
_2022_
_£_
_32,055_| Page 12 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **6. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |Charitable donations
Staff salaries
Refreshments
Vehicle running expenses
Rent
Honorarium
Hospitality|**Total**
**funds**
**2023**
**£**
**5,100**
**9,600**
**1,732**
**4,079**
**5,081**
**900**
**126**
**26,618**|_Total_
_funds_
_2022_
_£_
_11,450_
_9,600_
_2,220_
_4,124_
_1,771_
_550_
_422_| |---|---|---| |||_30,137_| ## **Analysis of support costs** |Computer and internet expenses
Depreciation
Dues and subscriptions
Printing, postage and stationery
Sundry|**Total**
**funds**
**2023**
**£**
**-**
**-**
**374**
**71**
**-**
**445**|_Total_
_funds_
_2022_
_£_
_198_
_890_
_264_
_179_
_387_| |---|---|---| |||_1,918_| ## **7. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examiner fee of £ - ( _2022_ - _£ -_ ). ## **8. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2022 - £9,600)_ . During the year ended 31 March 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ . Page 13 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **9. Debtors** ## **10. Creditors: Amounts falling due within one year** ||**2023**|_2022_| |---|---|---| ||**£**|_£_| |Trade creditors|**382**|_-_| ## **11. Financial instruments** ||**2023**|_2022_| |---|---|---| ||**£**|_£_| |**Financial assets**||| |Financial assets measured at fair value through income and expenditure|**763**|_2,824_| Financial assets measured at fair value through income and expenditure comprise cash at bank. ## **12. Summary of funds** ## **Summary of funds - current year** |General funds
**Summary of funds - prior year**
General funds|**Balance at 1**
**April 2022**
**£**
**2,825**
_Balance at_
_1 April 2021_
_£_
_10,274_|**Income**
**£**
**25,667**
_Income_
_£_
_26,328_|**Expenditure**
**£**
**(28,111)**
_Expenditure_
_£_
_(33,778)_|**Balance at**
**31 March**
**2023**
**£**
**381**| |---|---|---|---|---| |||||_Balance at_
_31 March_
_2022_
_£_
_2,824_| Page 14 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **13. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Unrestricted**
**funds**
**2023**
**£**
Current assets
763
Creditors due within one year
(382)
**Total**
381|**Total**
**funds**
**2023**
**£**
**763**
**(382)**| |---|---| ||**381**| ## **Analysis of net assets between funds - prior year** |Current assets
**Total**|_Unrestricted_
_funds_
_2022_
_£_
_2,824_
_2,824_|_Total_
_funds_
_2022_
_£_
_2,824_| |---|---|---| |||_2,824_| Page 15