## ## Charlly registrallon Nci. 1102347 WORD FOUNTAIN CHRISTIAN MINISTRIES Report and Accounts 31 October 2020 WORD FOUNTAIN CHRISTIAN MINISTrIES Rgport and 8¢counts Content5 Pa90 Administr8lN& Informalon Trustees, report Statement of Financial Activities Balance sheal Notes to th6 Finan¢ial St8lernents (ind￿1Ve of detailed Incorne & Expenditure) WORD FOUNTAIN CHRISTIAN MINISTRIES Charfty Infomiation Trustse$ PASTOR DUPE ADEFALA MRS ADERONKE HASTRUPthDEKOYA MR ADEMOL4 ADEKOYA MRS MARY ADEPEGBA MR OLABODE ADEFALA Accountants DELANI AWE & CO. CHARTERED CERTIFIED ACCOIUNTANTS 14 BRIGHT ROAO CHATHAM KENT Bank9rs LLOYDS Registered offi¢e 73 HOLLOW WAY COWLEY OXFORO OX4 2ND Reglstered Charity number 1102347 WORD FOUNTAIN CHRISTIAN MINISTRIES Profit and Loss Account for the year ended 31 OCto￿r 2020 Not•¥ 2020 2019 Ineom• (Thhes. Off•rJng & d*y)atlonsl 73.554 59,423 Cost of $8les Gros5 pv)fft 73.554 59,423 67.980 61063 Administrative eynse5 Operating profft 5,574 11,6401 5.574 {1.6401 Interest r8ceivabl8 47 62 Profit on ordlnary actlvFtles belore taxatlon 5,621 {1,578} Tax on profft on ordinary a¢tNilies Profft forth• financlal 5.621 1.578 WORD FOUNTAIN CHRISTIAN MINISTRIES Statement of Flnanclal Actlvities for the year ended 31 October 2020 2020 Total Fund 2019 Total Fund Unrestrici¢d Restricted Notes Ineome Resoure•s Tithes. offerings And thanksgivir Bulldlng Fund Grants & donations 55,136 55,136 35.370 1,906 4,121 4,121 6,797 6,797 7,147 1S.OCrfJ Olhers 7,500 47 7,500 47 Bank interest Totsl Incom• R•sOu￿9 69,480 4,121 73.601 59.485 Resources Expondod Support costs of actwities in furthèrance ol thg objects 12,555 12,555 18.854 Management & Administr8tion of Charity Total Income Expend¢d 53,116 65,671 55.425 44,209 67,980 61.063 Net incom1n￿10ut90ln9I r•8ourc•s 3,809 1,812 5,621 11,5781 Net Movem¢nts In Funds 3,809 1,812 5,621 11.5781 132.835 Fund balances bI￿ld 46,327 84,930 131.257 Funds balances cthvd 50.136 86.742 136,878 131,257 WORD FOUNTAIN CHRISTIAN MINISTRIES Balance Sheet as at 31 October 2020 2020 2019 Tan9lbl• Ilxed a¥s•ts 12.616 12.616 5,350 5,3 Currènt assets Debttys Cash at bank and in haTrJ 740 123.922 124.662 740 125.567 126.307 Credltors: amc+unts falHng du• wlthln on• y••f 4LK) N•t ¢urr•nt ass•ts 124.262 125,￿7 Total a$￿ts1o$S current Ilabllities 136.878 131.257 Net assèts 136,878 131.257 Unr•stri¢ted Fund Restricted Funds 86.742 84.930 un￿strICted Funds 50.136 46.327 Restrlct•d and Unrestrlet•d Funds clfwd. 136.878 131.257 Modupe Adefala Chairman May Adepe Truste Board of Trustees Date WORD FOUNTAIN CHRISTIAN MINISTRIES Notes to the Accounts for the year èndgd 31 OCto￿r 2020 1 Accountlng polle￿$ Basls ofprnwr4tlon The 8¢¢ounts have been prepared vnd8r Ihe hlstorfc81 cost ¢onvenllon and In acee*dance ￿th the Financial Reporting Standard for Smallèr Enltb$ leffeclive Aprtl 20081. Incomlng R•sour¢•8 Income is mainty from filhes, offarfng & builrjlng pledggs and bank Int•r8St received are Included in the finanry81 stat•ments when r8cèNed. Resour¢es Expèndgd All exp&nditure ￿ accountèd lor on an accrual ba$ls and has been ¢lass5fied undor headlngs that regate 811 costs relaled to the catsgory. Taxation As 8 ¢harlty. the charit8ble funds are exampl from eorpoT8th)n lax bul not from VAT. Irracov8rable VAT is, in accordance wth standard accounting practie8, Included in lh8 ¢osl of those Items to which it relates. D•pTgela¢lon Depreciation has been provid¢d al the following rates in ordar to write off the &ssets on the r8dusing balance of each asset. Land & builijing Plant and machinèry Furniture & fith'ngs Musical equipment 10% 20% 20% 2 fuwrds for the This is ststod after charging.. D8preclation of owned fixed 8ssgls 2,408 1.413 3 Tanglble flx•d ass•ts Computer¥ & Musical Furnlture & •qulpment equlpments fittings Total Cost At 1 November 2079 Additions Al 31 Oclgber 2020 1,192 21.835 9.651 9.674 19,325 32.678 9,674 42.352 1,192 21,835 D•pre¢iatlon At 1 Nov8mber 2019 Charge lor the year At 31 October 2020 27.328 2,408 29,736 238 238 476 20,303 238 6,787 1,932 8,719 20,541 Nel book value Al 31 Odober 2020 716 1,294 1,532 10,606 2,864 12,616 5.350 At 30 October 2017 954 WORD FOUNTAIN CHRISTIAN MINISTRIES Notes to the Accounts for the yèar ended 31 October 2020 4 Funds Unr861rkled R•strictsd 2020 2019 Al 1 NoV￿ber 2019 46,327 131,257 132.835 Nat Kt•vem&nts in Funds 3,809 1,812 5,621 1.578 At31 Cttober2020 50,136 86.742 136.878 131.257 WORD FOUNTAIN CHRISTIAN MINISTRIES Not¢$ to th• a¢¢ounts 1cont1nu￿) 6 Detalled Income and Expendlture Account for the year ended 31 Octob•r 2020 2020 2019 Unrestricled Restsicted Total fund Total fund 6.1 INCOMING RESOURCES Tlthes, offering and thanksgiving Building Gift Aid Oiher Income 55.136 55,136 4.121 6.797 7,500 47 73,601 35,370 4.121 6,797 7.147 15,000 62 $9A85 Bank intsrest received Total Incoming R•sourc•s 47 69,480 4.121 OUTGOING RESOURCES 6.2 Support costs of actlvltlès In furthèTanco of the Charfty's obiecis". Honorarium Pastoral eX￿nSeS Children. youth Harv851. Events Family Arena Charity & donations Evangeli¢aVoutreach materials Books, DVD etc Members. weware and trainw)g 2.470 1.1 2.470 1,100 623 3.777 5.370 1.128 122 1.237 800 2.513 1,418 307 670 461 1.674 5.2YJ 307 670 461 1,674 5.250 11555 12.555 16,854 6.3 Management and Administration of Charity: Rent of Church hall Travelling and subsistence Telephone Waste disposol Service charge Training & seminar Fuel Light & heat Hall hire Repalrs & maintenan Advertising & publi(Aty Aecountsrtcy fees Professional and other legal fees Depfeciation charge 36,663 36,663 28.778 1.732 1,091 451 1.535 309 5.516 119 1.732 1,091 451 1.535 309 5.516 119 2,(KJ2 490 3,101 190 3.403 2.309 2,123 221 400 2.088 1,413 44,209 400 2.892 2.408 $5,425 2.892 53,116 WORD FOUNTAIN CHRISTIAN MINISTRIES Profit and Los5 Account for th• y•ar ended 31 Octob•r 2020 202Q 2019 In¢om• ITlth•*. Olfvrfng & don•tk>n*l 73.554 59,423 73.554 59.423 Gro•s profit 67.980 61.063 Op•r•tlng profftlllos*l Inloiwt rec•fvat48 5,574 11.640} 47 82 Pn>lStl{lo••l b•for• thx 5.621 WORD FOUNTAIN CHRISTIAN MINISTRIES Schedule to the Prorrt and Loss A¢¢ount for the y•ar ended 31 October 2020 for Ihe Informal￿n of the th￿ctOrS onty 2020 2019 Incom¢ Tithes, offerings & thanksgNINJ Y3.554 59,423 Admlnlslrative +xpenses Employee ¢oslS'. Training Pastoral olknwantss Honordrium Membets, *tKar8 Chanty dornation & grft Motor vehicle 3,101 489 3.777 1.418 1,237 1.1 2.470 5.250 670 309 11.334 10.212 Premises c05ts". Rent Rates Service charges Light & Heating Cleanw 28,778 490 3,403 451 5,516 1.091 43,721 32.671 General administrative e4)ens8s: Telephone and fax Harvesl. Events Books and olh8r recNOMg materials Evange&cal materia15 & Chrtsti8n Lrteratures Hall hire Childrèn,wwlhs Repairs & maintenance D8pre¢iation Fam¥ly ￿e￿a 1.732 2,002 1,128 2.513 1.674 461 119 23 5,370 2.123 1.413 122 15.471 2.408 9.633 Leg* and wofessKJnal ￿ts. Accountancy fees Advertising and PR Other legal and wolesspjul 400 221 2,892 3.292 2.709 67.980 61.063 awe DELANI AWE & CO Chartered Certified Accountants ## **14 Bright Road, Chatham, Kent, ME4 5HH, Tel/Mob.07588758492 Email;adelani@delaniawe.com Independent Examiner’s report to the trustees of Word Fountain Christian Ministries** I report on the accounts of the Trust for the year ended 31 October 2020, which are set out on pages 6 to 10. ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and - to state whether particular matters have come to my attention. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## Adelaniawe **Adelani Awe (FCCA, Msc) For and on behalf of Delani Awe & Co** **ACCA Delani Awe & co is regulated for a range of accountancy services by the Association of Chartered Certified Accountants Mr. Adelani O.Awe ACCA, Msc (Accounting) 4**