## **Trustees' Report for Word Fountain Christian Ministries For the Year 01/11/2023 to 31/10/2024**
## **Introduction**
The Trustees of Word Fountain Christian Ministries (WFCM) present their report and financial statements for the year ending 31st October 2024. This report provides an overview of the ministry’s activities, achievements, financial health, and future plans, in alignment with our mission to serve the community through faith-based initiatives.
## **Objectives and Activities**
Word Fountain Christian Ministries is committed to spreading the Gospel of Jesus Christ and serving the spiritual and practical needs of individuals and families. Our objectives include:
- Promoting Christian faith through worship services, discipleship programs, and outreach activities.
- Providing pastoral care, counselling, and support for individuals and families.
- Engaging in charitable activities, including food distribution, community welfare projects, and educational initiatives.
- Supporting youth development programs to nurture the next generation in faith and leadership.
## **Achievements and Performance**
During the financial year, the ministry undertook various programs to fulfill its mission:
## **Worship and Discipleship**
- Held regular Sunday services and mid-week Bible study sessions, with an increase in attendance and online engagement at our three assemblies in Swindon, North Oxford and Cowley.
- Conducted prayer retreats, fasting programs, and discipleship training sessions to deepen spiritual growth.
## **Community Outreach and Social Impact**
- Organised food distribution initiatives benefiting over 500 individuals in need.
- Engaged with local and national organisations like Oxford food hub and His Church to provide assistance to the homeless and vulnerable groups.
- Facilitated month long teaching and empowerment in the areas of family, finance and fitness in addition to offering guidance and support program to struggling individuals and families.
## **Youth and Children’s Ministry**
- Expanded the youth fellowship, with mentoring and skill-building sessions.
- Hosted spring and summer youth events and educational workshops to empower young people spiritually and academically through its Family Arena Community Link Project.
- Delivered holiday activities in spring and summer for over 120 children and youths and serves as a member of East Oxford Youth Partnership and Oxfordshire Youth Organisation.
- Worked with Aylesbury Youth Club, London Metropolitan Forum and other ministries to provide mentorship to youths.
## **Missions and Evangelism**
- Conducted local and international mission trips to spread the Gospel and support underprivileged communities.
- Supports national organisations such as Care for the Family and International Ministers Fellowship to reach families and nations beyond our reach.
## **Financial Review**
The ministry maintained financial stability during the year, supported by tithes, offerings, and donations. Key financial highlights include:
- **Total Income:** £94,198
- **Total Expenditure:** £82,550
- **Reserves at Year-End:** £12,368
Funds were allocated efficiently to ministry programs, community outreach, and operational costs.
## **Reserves Policy**
The Trustees have agreed that it is prudent to maintain reserves at a level sufficient to cover at least six months of operational costs to ensure the ministry can continue its activities in the event of unforeseen circumstances. The reserves are reviewed annually to reflect the changing needs and commitments of the ministry. Surplus funds are designated for future projects, community outreach, and infrastructure improvements.
## **Structure, Governance, and Management**
WFCM operates under a Board of Trustees responsible for strategic oversight, governance, and compliance with charitable regulations. The Board meets regularly to ensure effective management of resources and alignment with the ministry’s mission.
## **Changes to the Board of Trustees**
During the year, the following changes occurred within the Board of Trustees:
- **Resignations:** Mrs Ronke Hastrup-Adekoya and Mr Ademola Adekoya stepped down from their roles due to end of tenure.
- **Appointments:** Professor John Durodola and Dr (Mrs) Catherine Rae Ross were welcomed onto the Board to bring fresh insight and leadership to the ministry effective 27th April 2024.
## **Plans for the Future**
Looking ahead, Word Fountain Christian Ministries aims to:
- Expand outreach programs to reach more individuals in need.
- Develop new digital evangelism strategies to enhance online ministry presence.
- Strengthen partnerships with local, national and international organisations for greater community impact.
- Enhance youth programs and leadership training to equip future Christian leaders.
## **Conclusion**
The Trustees express gratitude to our members, donors, volunteers, and partners for their unwavering support. With faith and commitment, we continue to work towards fulfilling our mission of sharing the love of Christ and serving our community effectively.
Signed on behalf of the Board of Trustees:
## modupeadefala
## **PASTOR MODUPE ADEFALA**
Chair of Trustees Date: **01 May 2025**
Charity registration No. 1102347
## WORD FOUNTAIN CHRISTIAN MINISTRIES
## Report and Accounts
31 October 2024
## **WORD FOUNTAIN CHRISTIAN MINISTRIES Report and accounts Contents**
||**Page**|
|---|---|
|Administrative information|1|
|Statement of Financial Activities|
2|
|Balance sheet|3|
|Notes to the Financial Statements|4 - 6|
|(inclusive of detailed Income & Expenditure)||
## **WORD FOUNTAIN CHRISTIAN MINISTRIES Charity Information**
## **Trustees**
PASTOR DUPE ADEFALA MRS MARY ADEPEGBA MR OLABODE ADEFALA PROFESSOR JOHN DURODOLA DR (MRS) CATHERINE RAE ROSS
## **Accountants**
DELANI AWE & CO. CHARTERED CERTIFIED ACCOIUNTANTS 14 BRIGHT ROAD CHATHAM KENT
## **Bankers**
LLOYDS
## **Registered office**
73 HOLLOW WAY COWLEY OXFORD OX4 2ND
## **Registered Charity number**
1102347
1
## **WORD FOUNTAIN CHRISTIAN MINISTRIES Profit and Loss Account for the year ended 31 October 2024**
|**Notes**
**Income (Tithes, Offering & donations)**
Cost of sales
**Gross profit**
Administrative expenses
**Operating profit**
2
Interest receivable
**Profit on ordinary activities before taxation**
Tax on profit on ordinary activities
**Profit for the financial year**|**2024**
**2023**
**£**
£
94,198
89,488
(6,350)
(4,766)
87,848
84,722
76,200
74612
11,648
10,110
11,648
10,110
720
225
12,368
10,335
-
12,368
10,335|
|---|---|
2
## **WORD FOUNTAIN CHRISTIAN MINISTRIES**
## **Statement of Financial Activities for the year ended 31 October 2024**
|**Notes**
**Income Resources**
Tithes, offerings and thanksgiving
6.1
Building Fund
Grants & donations
Others
Bank interest
**Total Income Resources**
**Resources Expended**
Support costs of activities in
furtherance of the charity's objects
6.2
Management & Administration
of Charity
6.3
**Total Income Expended**
**Net incoming/(outgoing) resources**
**Net Movements in Funds**
**Fund balances b/fwd**
**Funds balances c/fwd**|**Notes**|Unrestricted
£
64,007
6,979
23,212
720
94,918
25,494
57,056
**82,550**
**12,368**
**12,368**
**75,628**
**87,996**|Restricted
£
0
-
-
-
**-**
**-**
**-**
**92,755**
**92,755**|**2024**
**Total**
**Fund**
**£**
64,007
-
6,979
23,212
720|**2023**
**Total**
**Fund**
**£**
62,221
773
10,435
16,059
225|
|---|---|---|---|---|---|
|||||**94,918**|**89,713**|
|||||25,494
57,056
**82,550**
**12,368**
**12,368**
**168,383**
**180,751**|28,007
51,371|
||||||**79,378**|
||||||10,335|
||||||10,335
158,048|
||||||**168,383**|
3
## **WORD FOUNTAIN CHRISTIAN MINISTRIES Balance Sheet as at 31 October 2024**
|**Notes**
**£**
**Tangible fixed assets**
**Current assets**
Debtors
898
Cash at bank and in hand
174,298
175,196
**Creditors: amounts falling due**
**within one year**
5
400
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Unrestricted Funds**
Restricted Funds
5
Unrestricted Funds
5
**Restricted and Unrestricted Funds c/fwd.**
modupeadefala
Pastor Modupe Adefala
**Chairman**
**Board of Trustees**|**£**
898
174,298|**2024**
**2023**
**£**
**£**
**£**
5,955
8,926
5,955
8,926
898
158,959
159,857
400
174,796
159,457
180,751
168,383
180,751
168,383
92,755
92,755
87,996
75,628
180,751
168,383
-
_maryadepegba_
Mary Adepegba
**Trustee**
**Date 1 May 2025**|
|---|---|---|
||175,196
400||
4
**WORD FOUNTAIN CHRISTIAN MINISTRIES Notes to the Accounts for the year ended 31 October 2024**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
## **Incoming Resources**
Income is mainly from Tithes, offering & building pledges and bank interest received are included in the financial statements when received.
## **Resources Expended**
All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category.
## **Taxation**
As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in the cost of those items to which it relates.
## _**Depreciation**_
Depreciation has been provided at the following rates in order to write off the assets on the redusing balance of each asset.
|Land & building
2%
Plant and machinery
10%
Furniture & fittings
20%
Musical equipment
20%
**2**
**Net funds for the year**
This is stated after charging:
Depreciation of owned fixed assets|**£**
**£**
2,971
3,071|
|---|---|
- **3 Tangible fixed assets**
|**Cost**
At 1 November 2023
Additions
At 31 October 2024
**Depreciation**
At 1 November 2023
Charge for the year
At 31 October 2024
**Net book value**
At 31 October 2024|**Computers &**
**equipment**
**£**
1,192
0
1,192
1,102
50
1,152
40|**Musical**
**equipments**
**£**
26,783
-
26,783
22,757
989
23,746
3,037|**Furniture &**
**fittings**
**Total**
**£**
**£**
19,325
47,300
-
-
19,325
47,300
14,515
38,374
1,932
2,971
16,447
41,345
2,878
5,955|
|---|---|---|---|
5
## **WORD FOUNTAIN CHRISTIAN MINISTRIES Notes to the Accounts for the year ended 31 October 2024**
|At 31 October 2023
90
**4**
**Debtors**
Trade debtors
Other debtors
**5**
**Creditors: amounts falling due within one year**
Other creditors
**6**
**Funds**
Unrestricted
**£**
At 1 November 2023
75,628
Net Movements in Funds
12,368
At 31 October 2024
87,996|4,026
Restricted
**£**
92,755
-
92,755|4,810
8,926
**£**
£
515
515
383
383
898
898
**£**
£
400
400
400
400
**2024**
**2023**
**£**
**£**
168,383
158,048
12,368
10,335
180,751
168,383|
|---|---|---|
6
**WORD FOUNTAIN CHRISTIAN MINISTRIES**
## **Notes to the accounts (continued)**
## 6 **Detailed Income and Expenditure Account for the year ended 31 October 2024**
|6.1 **INCOMING RESOURCES**
Tithes, offering and thanksgiving
Building
Gift Aid
Other Income
Bank interest received
**Total Incoming Resources**
**OUTGOING RESOURCES**
6.2 **Support costs of activities in furtherance of**
**the Charity's objects:**
Honorarium
Donations & Welfare
Purchases
Children, youth
Harvest, Events
Printing, postage & stationery
Other direct costs
Charity & donations
Evangelical/outreach materials
Books, DVD etc
Members' welfare and training
6.3 **Management and Administration of Charity:**
Rent of Church hall
Bank charges
Subscription & Dues
Training & seminar
Insurance
Light & heat
Hall hire
Repairs & maintenance
Advertising & publicity
Sundry expenses
Accountancy fees
Depreciation charge|**2024**
**2023**
Unrestricted
Restricted
**Total fund**
**Total fund**
**£**
**£**
**£**
**£**
64,007
64,007
62,221
-
773
6,979
6,979
10,435
23,212
23,212
16,059
720
720
225|
|---|---|
||**94,918**
**-**
**94,918**
**89,713**|
||-
-
-
-
-
6,350
6,350
4,766
2,357
2,357
7,574
7,396
7,396
5,706
701
701
2,032
-
-
-
3,018
3,018
1,565
5,672
5,672
4,732
-
-
-
-
-
1,632|
||**25,494**
**-**
**25,494**
**28,007**|
||41,072
41,072
40,296
550
550
60
169
169
1,326
-
0
-
486
486
468
4,224
4,224
2,555
1,326
1,326
-
1,136
1,136
922
1,217
1,217
-
3,405
3,405
2,273
500
500
400
2,971
2,971
3,071|
||**57,056**
**-**
**57,056**
**51,371**|
7
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 2024, 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 01/05/2025
**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**