**Charity number: 1132352** ## **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2024** ## **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 2024** **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 2024** The Trustees present their annual report together with the financial statements of the BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES for the 1 April 2023 to 31 March 2024. ## **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. Our primary responsibilities are to function as salt and light in our communities and to promote the wellbeing of humanity as a whole. We also aim to advance the Christian Faith in towns, cities, 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 is 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 whole person (spirit, soul and body) for effective living and positive societal engagements. Our teachings centre on identifying your assignment in life and making strategic decisions to make a positive influence in society. We focus on building strong, healthy and enduring families who will contribute meaningfully 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 made progress in pursuing her objectives. We received comprehensive Bible teaching that produced enthusiasm, aspirations, equipping, resilience and competence in dealing with the affairs of life. Weekly youth programmes were inspirational. The youth were activated to pursue their life dreams. Children/youth demonstrated their understanding of life principles during their special weekend activities. Woman Arise, a yearly programme continued to mobilise the women and empower them in their assignments. The programme involved evangelistic outreach to advance the Kingdom of God. Skills, knowledge and character continue to be developed during this fellowship. Corporate Prayer Force was held weekly to address individual, family, communal and national needs. Our Welfare Initiatives continue to support and encourage those in need. ## **Financial review** Page 2 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024** ## **. 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 £2,903 (2023 - £381). ## **. 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 ENDED 31 M.IRCH 2024 Plans for futurè periods The Church aims lo continue to advance IL8 mission of saving souls, making disciples, raising leaders. transforming lives and improvillg communities. The Church corilinues lo explore g811ing a permanent place of meeting to promote ils mission and to facililale our charitable opèrations. This will help us lo ambark on our vision to build a Bible and Healing School. We aim lo expand through planting churches in other parts of UK and the world. Conferences centred on achieving our aims will continue to be held. Slaternent of Trustees, responsibilities The Trustees are rèsponsible for preparing the Trustees, report and the financial statements in accordan￿ with applicable 12w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charllies in England & Wales requires the Trustees to preparo financial slatemenls for each financial which give 8 tru6 and fair view of the stale of affairs of the Charity and of ils ir?coming resources and application of resources including its income and expenditurè, for that penod. In preparing these financial slalements, the Trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles of the Charities SORP {FRS 102).. make judgments and accounting estimates that are reasonable and prudent- State whether applicable UK Accounting Standards (FRS 102) have been followed, subject lo any material departures disclosed and explained in the financial statements," prepare the financi31 statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The TnJslee8 are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of lh8 Charily 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 responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the mernbers of the board of Trustees on 16 January 2025 and signed on their behalf by.. R•v J Addo (Trustee) Page 4 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **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 2024. ## **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: 16 January 2025 D Tabiri FCCA ACIE 7 177 Ballens Road Chatham, ME5 8PG Page 5 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** |**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**
**2024**
**£**
**27,462**
**27,462**
**988**
**23,952**
**24,940**
**2,522**
**381**
**2,522**
**2,903**|**Total**
**funds**
**2024**
**£**
**27,462**
**27,462**
**988**
**23,952**
**24,940**
**2,522**
**381**
**2,522**
**2,903**|_Total_
_funds_
_2023_
_£_
_25,667_
_25,667_
_1,048_
_27,063_
_28,111_
_(2,444)_
_2,825_
_(2,444)_
_381_| |---|---|---|---| 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 2024 2024 2023 Note Fixed assets Tangible assets 2,308 2.308 Currenl assets Cash at bank and in hand 59.$ 763 763 Credilors.. amounts falling due within one year 10 (382) Net current assets 595 381 Total a$sels less current liabilities 2,903 381 Net assets èxcluding pension assat 2.903 381 Total net a55ets 2,903 387 Charity fund5 Restricted funds Unreslricled funds 2,903 381 Total funds 2,903 381 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by_. Rev J Addo (Trusleel Date.. 16 January 2025 The notes on pages 8 10 15 form part of these financial slalementr_. Page 7 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **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. ## **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. All expenditure is inclusive of irrecoverable VAT. Page 8 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **2. Accounting policies (continued)** ## **2.4 Tangible fixed assets and depreciation** Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, . Depreciation is provided on the following bases: |Motor vehicles|- 20% on cost| |---|---| |Fixtures and fittings|- 20% on cost| |Church equipment|- 20% on cost| |Computer equipment|- 20% on cost| ## **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. ## **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 2024** ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2024**
**£**
Donations
27,462
_Unrestricted_
_funds_
_2023_
_£_
Donations
_25,667_|**Total**
**funds**
**2024**
**£**
**27,462**| |---|---| ||_Total_
_funds_
_2023_
_£_
_25,667_| ## **4. Expenditure on raising funds Costs of raising voluntary income** ||**Unrestricted**|**Total**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2024**| ||**£**|**£**| |Church & Ministry expenses|988|**988**| Page 10 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **4. Expenditure on raising funds (continued)** ## **Costs of raising voluntary income (continued)** ||_Unrestricted_|_Total_| |---|---|---| ||_funds_|_funds_| ||_2023_|_2023_| ||_£_|_£_| |Church & Ministry expenses|_1,048_|_1,048_| ## **5. Analysis of expenditure on charitable activities** ## **Summary by fund type** |**Unrestricted**
**funds**
**2024**
**£**
Cost of generating funds
23,952
_Unrestricted_
_funds_
_2023_
_£_
Cost of generating funds
_27,063_|**Total**
**2024**
**£**
**23,952**| |---|---| ||_Total_
_2023_
_£_
_27,063_| Page 11 ## **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **6. Analysis of expenditure by activities** |Cost of generating funds
Cost of generating funds|**Activities**
**undertaken**
**directly**
**2024**
**£**
22,003
_Activities_
_undertaken_
_directly_
_2023_
_£_
_26,618_|**Support**
**costs**
**2024**
**£**
1,950
_Support_
_costs_
_2023_
_£_
_445_|**Total**
**funds**
**2024**
**£**
**23,953**| |---|---|---|---| ||||_Total_
_funds_
_2023_
_£_
_27,063_| Page 12 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **6. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |Charitable donations
Staff salaries
Refreshments
Vehicle running expenses
Rent
Honorarium
Hospitality|**Total**
**funds**
**2024**
**£**
**1,350**
**9,600**
**1,187**
**3,575**
**4,649**
**950**
**692**
**22,003**|_Total_
_funds_
_2023_
_£_
_5,100_
_9,600_
_1,732_
_4,079_
_5,081_
_900_
_126_| |---|---|---| |||_26,618_| ## **Analysis of support costs** |Depreciation
Dues and subscriptions
Printing, postage and stationery
Sundry|**Total**
**funds**
**2024**
**£**
**770**
**897**
**161**
**122**
**1,950**|_Total_
_funds_
_2023_
_£_
_-_
_374_
_71_
_-_| |---|---|---| |||_445_| ## **7. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examiner fee of £ - ( _2023_ - _£ -_ ). ## **8. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ . During the year ended 31 March 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ . Page 13 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **9. Tangible fixed assets** |**Cost or valuation**
At 1 April 2023
Additions
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
_At 31 March 2023_|**Motor**
**vehicles**
**£**
**7,600**
**-**
**7,600**
**7,600**
**-**
**7,600**
**-**
_-_|**Fixtures and**
**fittings**
**£**
**592**
**-**
**592**
**592**
**-**
**592**
**-**
_-_|**Office**
**equipment**
**£**
**4,160**
**1,327**
**5,487**
**4,160**
**332**
**4,492**
**995**
_-_|**Computer**
**equipment**
**£**
**1,722**
**1,751**
**3,473**
**1,722**
**438**
**2,160**
**1,313**
_-_|**Total**
**£**
**14,074**
**3,078**| |---|---|---|---|---|---| ||||||**17,152**| ||||||**14,074**
**770**| ||||||**14,844**| ||||||**2,308**| ||||||_-_| ## **10. Creditors: Amounts falling due within one year** ||**2024**|_2023_| |---|---|---| ||**£**|_£_| |Trade creditors|**-**|_382_| ## **11. Financial instruments** ||**2024**|_2023_| |---|---|---| ||**£**|_£_| |**Financial assets**||| |Financial assets measured at fair value through income and expenditure|**595**|_763_| Financial assets measured at fair value through income and expenditure comprise cash at bank. Page 14 **BIBLE LIFE FAMILY MINISTRIES - MILTON KEYNES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **12. Summary of funds** ## **Summary of funds - current year** |**Balance at 1**
**April 2023**
**£**
General funds
**381**
**Summary of funds - prior year**
_Balance at_
_1 April 2022_
_£_
General funds
_2,825_
**13.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
Tangible fixed assets
Current assets
**Total**
**Analysis of net assets between funds - prior period**
Current assets
Creditors due within one year
**Total**|**Income**
**£**
**Expenditure**
**£**
**27,462**
**(24,940)**
_Income_
_£_
_Expenditure_
_£_
_25,667_
_(28,111)_
**Unrestricted**
**funds**
**2024**
**£**
2,308
595
2,903
_Unrestricted_
_funds_
_2023_
_£_
_763_
_(382)_
_381_|**Balance at**
**31 March**
**2024**
**£**
**2,903**
_Balance at_
_31 March_
_2023_
_£_
_381_
**Total**
**funds**
**2024**
**£**
**2,308**
**595**
**2,903**
_Total_
_funds_
_2023_
_£_
_763_
_(382)_
_381_| |---|---|---| Page 15