Report and
Financial
Statements
For the year ended 31 December 2023
FOUNTAIN OF LIFE
PENTECOSTAL HOLINESS CHURCH
Charity No: 1040574

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
ort of the Trustees for the Year Ended 31 December 2023
Contents
page
Legal and Administrative Information
Report of the Trustees
2to8
Statement of Financial Activities
Balance Sheet
10
Notes forming part of the financial statements
The following page does not form part of the Statutory Account5

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
Reference and Administrative information
Charity Name:
Fountain of Life Pentecostal Holiness Church
Charity Registration Number:
1040574
Registered Office and
Operatlonal Address:
139 Ashville Road, Leytonstone, London
E114DX
Trustees
Reverend Harold Presley (Chair person)
Mr Clemenc Julien
Mr John Amosu
Independent Examiner;
Samuel Durojaiye FCPA
Samuelson & Co UK Ltd
Certified Public Accountants & Tax Consultants
596 Kingsland Road
Hackney, London
E8 4AH
Banl<ers .
Barclays Ban1< PIC
Holloway and Kingsland Branch

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
ort of the Trustees for the Year Ended 31 December 2023
The trustees present their report along with the financial statements of the charity
for the year ended 31 st December 2023.
The ftnancial Statemenc has been prepai'ed in accordance with the accounting policies
set out on page 4 and comply with the charity s trust deed and applicable below.
Constitution Ob'ects and Princi
al Activities of the Charit to
ether with the Or
anisation
of our work
Our Charity'5 purposes as set out in the objects contained in the Declaration of Trust are:
A, Advance of the Christian faith
B, Rellef of people who are in conditlons of hardshlp or distress or who are aged, sick or disabled
C. Promoclon of fulfilment of such other charitsble purposes beneficial to the community,
The trust was involved in Christian Outreach programmes designed to increase Christianity
wareness and spread the gospel of our Lord Jesus Christ.
Ensurin
Our Worlc Delivers Our Aims
We review our aims, objectives and activities each year. This review looks ac what we achieved
and the outcomes of our work In the previous 12 months. The revlew looks at the success of
each Icey activity and the benefits they have brought co those groups of people we are set up to help.
The review also helps u5 ensure our alm , objectives and activities remained focused on our stated
purposes. We have I'eferred to the guidance contained in the Charity Commisslon's general
guldance on public benefit when revlewing our aim and objectives and in planning our future
activitles. In particular, (he trustees consider how planned activicies will contribute to the aims
and objectives they have set,
Develo
ment Activities and Achievements in the Year
The Trustees are pleased to report that the Church has continued to be successful spiritually by
ministering to many people. The Church has improved in membership strength and reaching out
through partnerships and to the community. In the years. the church has continued with widening
her participation collaborative work with the Waltham Foresc Homeless project.

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
The church members 2nd the Pastor fed rhe homeless every first Friday of the month.
In line wlth our misslon stacement ' Lovingjesus, Lifcing People, Launching Ministries, we worked in
partnership with The London School of Ministry, Pentecostal Holiness British Conference.
We also supported supported two mlnlstrles namely GHACOE Ministry in Ghana and Mission
Catalyst in India and Kenya. We worked with families and children around Leytonstone
(Ashville Road area) in sharing the gospel and putring on different activities on Saturdays and durlng
the holidays for the children.
Who used and benefited from our ServicesT
Oui" Church Services are presented with both the regular congregants and the visitors or seekers in
mind. We minister to the physical, mental and spiiitual needs of people in our seThices
glving specific considerntlon to the seel<ers or new comers in our midst who may not necessarily
have a church background and as such may not understand the processes and procedures of
ChristSanity. We have a150 helped relief poverty and hardship amongst both regular and irregular
congregants who are suffering from a period of financ5al hardship due to unemployment and lack
of ftnancial resources.
Flnancial Revle
The total Incomlng resources for the year amounted to £123,210. The net incoming resources
was £43,757
Princl al Fundin
Sources
The prlncipal funding sources for the charlty are currently by vny of Donations and Gifts from
congregants through the offering basket passed during Church services and through bank sranding
oi"dei-s.
Investment Policy
The Charity have cash that are set out in the Charity balance sheets. The objecrive of the investment
policy Is to invest in cash at banks where the capital is protected. No bank interest was achieved
in the period The Charity curi-ently has a policy of keeping any surplus liquid funds in cash at
banl<s where immediate access and security of fund5 is guaranteed.

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
Reserves Policy
The Board of Trustees has examined the Charity's requirements for reserves in light of the main
risl(s to the organisation. It has established 3 policy whereby the unrestricted funds not
committed or invested in tangible fixed assets held by the charity should be between 3 and 6
months of the expenditure.
The expendlture for 2023 was £79453 and therefore the targeted reserves should be between £19,863
and £39,726 in general funds. The reserves are needed to meet the working capita5 requirements
of the charity and the trustees are confident that at this level they would be able to continue the
current activities of the Charity in the event of a signific2nt drop in funding. This general reserve
pollcy was met and exceeded as in earlier years.
Plans for Future Periods
The Charicy plans contlnuing che activitie5 ourlined above in the forthcoming years subject to
satlsfactory funding arrangements.
Structure Governance and Mana
ement
Governing Document
The Organisation Is a charitable organisaiion constituted under a Constitution dated 21 ch July
1994 and reglstered a5 a charity on 2nd September 1994. The charity was established under a
Constitution whlch established che objects and powers of the charity and is governed under its
term5. In the event of the Charity wound up members are required to so decide by three-quarters
majority.
Trustees Induction and Training
Most trustees are already fami li2r with the practical work of the charity having been friends of the
Church for a number of years. Additionally. new trustees are invited and encouraged to function in
the capacity as friends of the Church in order to understand the offerings of the Church and its
market. Additionally new trustees would be invited as required and encouraged to attend a Series
of shorc training 5e55ions to familiarise themselves with the charity and the context within which
it operates,

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
These sessions would be led by the chair person, secrerary and treasurer of the CharSty and cover:
l ) The Obligations of Trustees
2) The Main documents which set out the operational framework for the charity including the
Declaraiion of Trust
3) Resourclng and the current financial position as set out in the latest published accounts
4) Fucure plan5 and objectives
Ris1< Management
The Trustees have identified the major strategic rlsks to which Fountaln of Life Pentecostal Holiness
Church Is exposed co and has established controls and actlons to mitigate them. Each year, risk
assessments talce place at our office and are subject to continual review and monitoring.
The Trustees talce 311 appropriate steps co Modera￿ and manage the Inevitable ope17tional risks
to which volunteers staff and assets of Founcain of Llfe Pentecostal Holiness Church are exposed.
Coinpetence b2sed training. Volunteers employers Ilabllity insurnnce, monitoring of new legislative
requirements are for examples of steps taken. In particular there are policles and procedures
for children and vulnerable adults protectlon and for health and safety risks.
Organisation
Fountain of Life Pentecostal Holiness Church is governed by a aoard of Trustees to serve the charity
and run Sts affairs. Annually the Board reviews the range of skills it has available and use5 its power of
co-option to ensure that gaps are filled. The B02rd also ensure5 that a number of other criteria are
met. The Board are assisted by ministry team. The Board of Trustees meet quarterly and
are responslble for the strategic direction and policy of the Charity. A scheme of delegation Is in
place and day co day responsibility for the provision of the services rest with the truscees.
Responsibilities of the Trustees
Charlty law requires che Trustees to prepare financial statements for each financial year which
glve a true and fair view of the sfate of affairs of the charltable trust as at the balance sheet date
and o( its incoming resources and 3pplica(ions of resources, including income and expenditure,
for the flnancial year.

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURI
I n preparing those financial statements the Trustees should follow best practice and:
l ) Select suitable accouncing policies and then apply chem consistently.
2) Mal<e judgements and estimates that are reasonable and prudenc
3) Prepare the financial statements on the going concern basis unless it is inappropriate
co presume that the charity will continue on that basis.
The Trustees are responsible for maintaining proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charity and enables Ihem to ensure
that the financial statements comply with Charity Act of 201 l. The Trustees are also responsible for
safeguai.dlng the assets of the Charlty and hence for tal<ing reasonable steps for Ihe prevenrion
and detection of fraud and other irregularlties.
Members of the Board of Trustees
Members of the Board of Trustees, and trustees for the purpose of charity law, who serned during
the year and up to the date of this report are set out on page l.
In accordance wlth charlty law, as trustees, we certify thaL'
So far as we are aware, there Is no relevant information of whlch the company's accountants are
unaware; and as the trustees of the charity we have tal<en all steps that we ought to have taken In
order to mal<e ourselves aware of any relevant information and to establish that the Charlty's
accountants are aware of that information,.
Thls report has been approved by the trustees 2nd signed on their behalf by..
Rev. Harold Presley
Signed:

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
Inde
endent Examiners Re
ort to the Trustees of Fountain of life Pentecostal holiness
ear ended 31 December 2023
church for the
I report on the accounts of the charity for the year ended 31 December 2023, which are set out on
page5 10 to 16.
Res
ective res
onsibilities of trustees and examiner
The trustees (who are also the directors of the organisation are responslble for the preparation
of financial statement.
The trustees consider thac an audit Is not required for this year under section 144 (2) of the
Charities Acr 2011 (201 l Act) and that an independent examination is needed.
The charity's gross Income did not exceed £250.000 and l am qualified to undertake the examlnatlon
by be5ng a Certified Publlc Accountant.
Having satlsfled myself that the Charlty Is not subject to audSt under company law 2nd Is eligible for
Independenc examlnation, it is my responsibility to:
l ) examlne ihe accounts under section 145 of the 2011 Act:
2) to follow the procedures lald down in the general Directions given by the Charity Commlsslon
under section 145 (5)(b) of the 201 l Act; and
3) to state whether particul2r matters have come to my attention.
Basis
f inde
endent examiner's re
ort
My examination was carried out In accordance wlth the general direccions glven by the Charity
Comm1551on. An examination includes 2 review of the accounting records Icept by the charity and a
comparison of the accoun(s with those records. It also includes conslderation of any unusual items
or disclosures in the accounts, and seeklng explanations from you as trustees concerning any such
matcers, The procedures undertalcen do noc provide all the evidence that would be required in an
3LJdit and consequently no opinion is given as to whether the accounts present a 'true and fair
view. and the report is Ilmited to those macters set out in the 5tacement below.

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
Inde
endent Examiner's Statement
In connection with my examination, no matter has come to my attention:
( l ) whlch gives me reasonable cause to believe that in any material respecc che requirements:
l a) to Iceep accounting records in actordance with section 386 of the Companies Act 2006. and
I b) to prepare accounts which accord with the accounting records, comply with the accounting
requirements of secrion 396 of the Companies Act 2006 and with the methods and principles of the
Statement of Recommended Practice: Accounting and Reporting by Chai"icies have not been met.. or
(2) to which, in my oplnion, attentlon Should be drawn In order to enable a proper understandlng
of the accounts co be reached.
Samuel Durojaiye FCPA
Samuelson & Co UK Ltd
Cercified Public Accountants & Tax Consultants
596 Kingsland Road
Haclcrley, London
E8 4AH

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
INCLUDING INCOME AND EXPENDITURE
ACCOUNT
Unrestricted Restrlcted Endowment
Total Funds
Funds
Funds
Funds
2023
2022
Notes
INCOME
Incoming resources
123,210
123,210
102,619
Other incoming resources
Total incomlng resources
123,210
123,210
102,619
RESOURCES EXPENDE
Costs of generatlng funds
Missionary and Charitable
givlng
Activities dlrectly relating to
the work of che church
8,940
8,940
9,386
3b
67,811
67,811
99,309
Church management and
administration
2,702
2,702
2,702
TOTAL RESOURCES EXPENDED
79,453
79,453
111,397
Net Incomlngl<Outgoing) Resources
Gains and Losses on Investmenc5
43,757
43,757
8,778
NET MOVEMENT IN FUNDS
43,757
43,757
8,778
ACCUMULATED FUNDS
BIF AT 0110112023
165,180
165,180
173,958
ACCUMULATED FUNDS
CIF AT 3111212023
208,937
208,937
165,180

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
BALANCE SHEET AS AT 31ST DECEMBER 2023
Notes
2023
2022
FIXED ASSETS
Tanglble Assets
Longtime I nvestment
653,100
25,000
655,252
25,000
678,100
680,252
CURRENT ASSETS
DebcorslPledgeslPrepayments
BanldCa5h Balances
181,387
135,478
181,387
135,478
CURRENT LIABILITIES
Amount falllng due wlthln
one year
550
550
550
550
Net Assetsl(Liabilities)
858,937
815,180
Revaluation account
650,000
650,000
Accumulated Funds 81F
165.180
165,180
Excess Incomel ( Deficits)
43,757
8,778
Accumulated Funds CIF
208,937
858,937
156,402
806,402
Total
APPROVED BY THE BOARD OF TRUSTEES ON..
AND SIGNED ON THEIR BEHALF BY:
Rev. Harold Presley
Signed:
The notes on pages I1- 14 form part of these financial statements
io

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 DECEMBER 2023
ACCOUNTING POLICIES
The account5 are prepared under the historical cost convention with che exception of investments
which are stated at market value. They comply with the requirements of Statement of Recommended
Practlce Accounting Charities ('SORP) and are in accordance with applicable accounting standards.
b. General accumulated funds are unrestricted funds available to the church for its general purposes
ènd include funds designated by the Church for a particular purpose. the use of such designated funds
remain at the discretion of the Church's Trustees.
. There is no Restrlcted Fund ac the moment
d. The governance, management and administration expenses reported in note 3 relate to the whole
of che Church's activities and a proportion of these charges are allocated to expenditure headings on
a basls conslstent wlth the use of the resources
Investments are stated at market value. It Is the Church's policy to l<eep valuations up to date such
that when Investments are sold there is no gain or loss arising to previous years.
f. Tang5ble asse¢$ are included at cost and depreciation is provided on a straight line basis, in order to
wrlte off the assets over their useful Ilves.
g. All expenditures Is accounted for on an Accrual Basis.
The depreciation rates are as follows:
Freehold BuSldings
Musical Equipment
Equipment, Flxtures and Fittlngs
NIL
IO% Straight line
IO% Straight line
2) INCOMING RESOURCES
Unrestricted Restricted Endowment
Total Funds
Funds
Funds
Funds
2023
2022
Tlthes and Offerings
123,210
123,210
102,619
TOTAL INCOMING
RESOURCES
123,210
123,210
102,619

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 DECEMBER 2023
CONTINUED
Unrestricted Restrlcted Endowment
Total Funds
Funds
Funds
Funds
2023
2022
3) RESOURCES EXPENDED
3a. Missionary and charitable
glvings;
3b. Activities directly relating
to the worl< of the church:
8,940
8,940
9,386
Church Runnlng Expenses
Church Malntenance
60,499
1,584
60,499
1,584
63,104
23,452
662
Children Minlstry
Youth Mlnistry
Evange115mlOverseas Mission
Welfare
805
4,140
1,588
67,811
4,140
1,588
67,811
1,359
9,927
99,309
3c. Church management and
administration,,
Administratlon
2,702
2,702
2,702
TOTAL RESOURCES EXPENDED
79,453
79,453
11,397

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 DECEMBER 2023
CONTINUED
4) FIXED ASSETS
ui
ment
Freehold Furnitures &
Buildin
Fittin
Total
Cost
At 01 Jan 2023
Additlons:
650,000
21,522
671,522
Cost at 31 st Dec 2023
650,000
21,522
671,522
re
ate De
reciation
BIF
16,270
2,152
18,422
16,270
2,152
18,422
Charge for the year
At 31 st Dec 2023
Net Bool< Value
At 31 Dec 2023
650,000
650,000
3,100
5,252
653,100
655,252
At 31 Dec 2022
5 ACCUMULATED FUNDS
Accumulated Fund BIF
165,180
43,757
Net Movement of Fund
Accumulated Fund CIF
208,937
6 DEBTORS AND PREPAYMENTS
Other Debtors
Prepayment and Accrued Income
7 CREDITORS AND ACCRUALS
Accountancy and Boolclceeping BIF
Ch3rge for the Year
550

FOUNTAIN OF LIFE PENTECOSTAL HOLINESS CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
TOTAL INCOMING RESOURCES
CONTINUED
2023
2022
Tithes, Offering and Appeal
EXPENDITURES
123,210
102,619
SSIONARYICHARITABLE GIV
NG
Mission support
Tlthe5 to IPHC ( Brltlsh Conference)
11,215
8,583
803
11,215
9,386
CHURCH RUNNING ACTIVITIES
Events
10,519
5,658
8,823
3,453
1,272
134
Light & Heating
Fire & Alarm
Water rates
350
Honorarium
6,000
798
13,550
843
Telephone expenses
Woi'ship Ministry
Travel
31,473
4,300
25,363
Benevolenc
8,371
1,295
Insurance
1,401
60.499
1,584
63,104
23,452
662
C. CHURCH MAINTENANCE
D. CHILDREN MINISTRY
YOUTH MINISTRY
805
F EVANGELISM
G WELFAREICOMMUNITY EXPENSES
1,865
1,359
Welfare & Love Offering
1,588
9,927
H ADMINISTRATION
Accountancy fee
Depreciatlon
550
550
2.152
2,152
2702
2,702
111,397
8,778
79,453
43.757
NET INCOMING (OUTGOING) RESOURCES