Annual Report and Financial Statements
31 August 2025
A registered Charity; Charity Number 1108499 (England and Wales)
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## **Table of content**
|Cover Page
|1|
|---|---|
|Table Of Content|2|
|Reference and Administrative Details|
3|
|Trustees’ Report incorporating Strategic Report 4-8||
|Independent Examiners’ Report|9-10|
|**Financial Statements:**||
|Statement of Financial Activities|11-12|
|Balance Sheet|13-14|
|Notes to Financial Statements|15-18|
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## **Reference and administrative Details**
Trustees
As at date of financial statements approval Folashade Ajiboye (Chair) Yemi Atanda Mark Amadi Church Pastor: Mark Amadi
Registered office Fountain of Peace Ministries
Fountain House Arcany Road, South Ockedon. RM15 5SX
Charity number 1108499 (England and Wales)
Bankers: HSBC Bank 190 Deptford High Street London SE8 4RQA
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## **Trustees’ Report incorporating Strategic Report**
Trustees
The following trustees are currently in office and served throughout the year, except where shown.
Changes in the year: None
----------------------------------------------------------------------------------------------------------------------Trustee
Folashade Ajiboye (Chair) Yemi Atanda Mark Amadi
Mark Amadi is the only trustee that received any remuneration in respect of their duties as a fulltime pastor and head of the church from the Church during the year (2024 – 2025). He is the Church Pastor.
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## **OBJECTS, AIMS, OBJECTIVES AND PRINCIPAL ACITIVITES**
## **The objectives of FOP are:**
To advance the Christian religion for the public benefit in accordance with the doctrines of our Lord Jesus Christ, through the holding of prayer meetings, lectures, evangelism, distributing of literature and tracts, broadcasting, education, community social work and such charitable means as the trustees consider appropriate.
The relief of poverty by such charitable means as the trustees consider appropriate. The principal activities of the church are Christian worship; Christian outreach program is to increase Christian awareness and to spread the Gospel of our Lord Jesus Christ and the development of the whole man, spiritually, mentally, healthily and physically. The Ministry has quite a few ministries and host of volunteers who assist in helping us achieve our objectives.
The charitable and fund-raising activities in the organization are borne out of the mission statement. The mission which inter alia is to “empower all nation, all creed, and all race and changing lives for Gods kingdom”. The strategy for realizing these objectives is stated in “term of giving to the different core ministries of the church.
Among these ministries are the: Administrative College (Church administrative management) Believers’ College (New Entrants and Welfare) Children Ministry Faculty of Nehemiah Faculty of Research and Development Fountain Financial College Fountain Pastoral Leadership Academy Gabriel Chancery Men Ministry Royal college of Ministers (Academic College) Royal Fountain Choir School of Apologetics (Bible Study) School of Retreat Women Ministry See our website: www.fountainofpeace.org for more details
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## **Activities and Achievements in the period**
The charity ministers and renders services to the needs of various social and cultural groups within and outside the church. FOP holds it services and most of its social supports works at a leased premise at 3 Staffa Road, Leyton, London, E10 7PY.
FOP provides forum for empowerment and development for members to be equipped educationally, socially and spiritually through its center of excellence.
FOP offers various counselling and prayer sessions to the needy, unemployed and educational and makes referral whenever the need arises.
Fountain of Peace Ministries has continued to introduce programs geared towards the development of the whole man and the community.
FOP is able to reach members of the community using different methods of empowerment, such as leafleting (Gun and Knife crime flyers, Crime Prevention) programmes (Leadership, Team- Playing and Career Development Programmes) Concerts and events (such as “Atmosphere for Empowerment” “ Kingdom Joy Conference”, AlphaFest” etc.). During the year in review, the ministry was also able to carry out empowerment programmes using the different leadership lectures covering issues that are core to the development and advancement of members and the community at large
During the year under review, legal/immigrations lectures in conjunction with solicitors from the community were organised, which contributed immensely to people understanding the Law and the environs
We are happy to say these programmes have been 100% successful. These have created positive impact in social, spiritual, economic, career and character development to break the stronghold of poverty and unemployment amongst members and the public.
Spiritual & evangelical Achievement
Fountain of Peace under the year in review has produced and is still producing great ministers of God who are impacting the community in social works
FOP has one of the highest levels of innovation and translational prophecy substratum within the Christendom
FOP witnessed a high level of converting spirituality into strategic entrepreneurial development thereby empowering all to live a fulfilled life as stated by God
FOP serves as satellite Prayer line station of United Christian Broadcasting (UCB)
## Ecumenical Achievements
Visited hospitals and care homes where gifts were presented.
The Family Day event was a huge success as it also attracted members of the public and formed a source of revenue to small businesses.
Social and Community Outreach Programme Achievements.
The Fountain Day Centre has since its existence created positive influence in Hackney and Waltham Forest Borough.
The center offers social services such as rehabilitation, social and emotional, counselling services, vocational and educational, developmental legal, nurse services and life skill support programmes.
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The Centre provides cooked meal; breakfast and lunch, Laundry services and Shower services and supply clothes.
The Centre also serve as a sign post for other service providers such as the Waltham Forest Drug and Alcohol Team, Turning Point, etc.
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Charities Act requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are requested to:
Select suitable accounting policies and then apply them consistently; Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act. 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.
Folashade Ajiboye Trustee
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## **The Purpose of the System of Internal Control**
The system of internal control is designed to manage risk to a reasonable level rather than to eliminate all risk of failure to achieve policies, aims and objectives; it can therefore only provide reasonable and not absolute assurance of effectiveness. The system of internal control is based on an on-going process designed to identify and prioritize the risks to the achievement of charity’s policies, aims and objectives, to evaluate the likelihood of those risks being realized and the impact should they be realized, and to manage them efficiently, effectively and economically. The system of internal control is in place in Fountain of Peace Ministries for the year ended 31 August 2025 and up to the date of approval of the annual report and financial statements.
## **Capacity to Handle Risk**
The Trustees has reviewed the key risks to which the charity is exposed together with the operating, financial and compliance controls that have been implemented to mitigate those risks. The trustees are of the view that there is a formal on-going process for identifying, evaluating and managing the charity’s significant risks that has been in place for the year ending 31 August 2025 and up to the date of approval of the annual report and financial statements. This process is regularly reviewed by the board of trustees.
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**INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FOUNTAIN OF PEACE MINISTRIES**
I report on the financial statements of the church for the year ended 31 August 2025 and accompanying notes which are set out on pages 11 to 18.
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
The church's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the financial statements under section 145 of the 2011 Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under
section 145(5)(b) of the 2011 Act; and
- 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 church and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as 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 financial statements present a 'true and fair view and the report is limited to those matters set out in the statement below.
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## **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 2011 Act; and
• to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met: or
(2) to which, in my opinion, attention should be drawn in order to enhance a proper understanding of the financial statements.
Signed: Dated: 23 June 2026.
Festus Ededjo **FCCA, FCA,**
HELEN DANIELS CONSULTING LTD
98 Coldharbour Lane
London
SE5 9PU
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## **INCOME STATEMENT**
|**INCOME STATEMENT**||
|---|---|
|**NOTES**
**Incoming Resources**
**from General Funds**
Voluntary Income
Government Grants
Tithe & Offering
Income from Charitable Activities
Other
**Total Incoming Resources**
**RESOURCES EXPENDED:**
CHARITABLE ACTIVITIES
GOVERNANCE COST
**TOTAL**
**Excess of Income over Expenditure**
Depreciation
Net Fund
**NET MOVEMENT IN FUNDS**
Fund Balances brought forward as
at 1 September 2024
Fund Balances carried forward as at
31st August 2025|**UNRESTRICTED RESTRICTED**
**TOTAL**
**TOTAL**
**GENERAL**
**FUNDS**
**GENERAL**
**FUNDS**
**FUNDS**
**FUNDS**
**2025**
**2024**
**£**
**£**
**£**
**£**
7,175
7,175
42,904
30,267
30,267
29,880
184,391
184,391
135,929
-
40,648
-
13,000|
||214,659
7,175
**221,834**
**262,361**
-
-
-
139,643
139,643
245,245
1,000
1,000
900|
||140.643
-
**140,643**
**246,145**
-
74,016
7,175
81,191
16,216
3,008
-
3,008|
||71,008
7,175
**78,183**
**16,216**
452,650
42,904
495,554
479,338|
||**523,658**
**50,079**
**573,737**
**495,554**|
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## **BALANCE SHEET**
|**NON-CURRENT ASSETS**
NOTES
BUILDING
8.00
EQUIPMENT
9.00
Total Non-Current Assets
**CURRENT ASSETS**
CASH IN HAND
CASH IN BANK
_TOTAL CURRENT ASSETS_
**LIABILITIES**
Creditors: amount falling due within
one year
**_Net Current Assets_**
**TOTAL ASSETS less Current**
**liabilities**
**LONG TERM LIABILITIES**
Pension Liability
Net Asset excluding Pension Liability
**NET ASSETS**|2025
2024
**£**
**£**
1,037,321
1,037,321
12,031
15,039
1,049,352
1,052,360
3,462
38,408
18,452
38,408
21,914
1,000
200
37,408
21,714
**1,086,760**
**1,074,074**
513,023
578,520
573,737
495,554|
|---|---|
||**573,737**
**495,554**|
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Financed by: **FUNDS AND RESERVES**
|Restricted funds
Unrestricted Funds
Reserves-
**TOTAL FRESERVES**|50,079
42,904
523,658
452,650|
|---|---|
||**573,737**
**495,554**|
The financial statements on pages 11 to 18 were approved by the Trustees and signed on their behalf by:
Folashade Ajiboye Trustee
Approved on: February 2026
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## **NOTES TO THE ACCOUNT**
## **Basis of Accounting**
The financial statements have been prepared under the historical cost convention and in accordance with the requirements of the Companies Act 2006. Applicable accounting standards and SORP 2005 have been followed in these financial statements. Incoming resources
## Grants' receivable
Grants are included in the statement of financial activities on an accrual basis. The balance of income received for specific purposes but not matched to relevant expenditure during the period is shown in the restricted income fund on the balance sheet. For grants provided to fund fixed assets, this includes the net book value of assets acquired.
## Gifts in kind
Gifts in kind provided to the Church are recognized in the statement of financial activities at their value to the Church, as determined by the trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.
## Interest receivable
Interest receivable is included within the statement of financial activities on an accrual basis. Resources expended and the basis of apportioning costs
Resources expended are recognized in the period in which they are incurred and include irrecoverable VAT. They have been classified under headings that aggregate all costs relating to that activity.
## Allocation of costs
In accordance with the SORP 2005, expenditure has been analyzed between the Church’s charitable activities and governance. Items of expenditure which involve more than one cost category have been apportioned on a reasonable, justifiable, and consistent basis for the cost category concerned.
## Governance costs
Governance costs include the costs attributable to the Church’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee meetings and reimbursed expenses.
## Tangible fixed assets
All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalized.
Depreciation is charged on a straight-line basis beginning in the year in which the asset is brought into use at the following annual rates:
Furniture and fittings 20% p.a. ICT & Equipment 20% p.a.
Where fixed assets have been acquired with the aid of specific grants, they are included in the balance sheet at cost and are depreciated over their expected useful economic life. The related grants are credited to a restricted fixed asset fund (in the statement of financial activities and carried
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forward in the balance sheet). The depreciation on such assets is charged in the statement of financial activities over the expected useful economic life of the related asset on a basis consistent with the depreciation policy.
Fund accounting
The unrestricted general fund represents those monies which are freely available for application towards achieving any charitable purpose that falls within the Church’s charitable objects.
Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor-imposed conditions.
## 2.
**----- Start of picture text -----**
VOLUNTARY
INCOME 2025 2024
Unrestricted Restricted Total Funds Total Funds
Funds Funds (£) (£)
Donations 7,175 7,175 42,904
7,175 42,904
3.
GOVERNMENT
GRANTS 2025 2024
Unrestricted Restricted Total Funds Total Funds
Funds Funds (£) (£)
HMRC- GIFT AID 30,267.47 30,267.47 29,880
30,267.47 29,880
4.Tithe and Offering
2025 2024
Unrestricted Restricted Total Funds Total Funds
Funds Funds (£) (£)
TITHE & OFFERING 184,391.46 184,391.46 135,929
184,391.46 135,929
**----- End of picture text -----**
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## 5. CHARITIES ACTIVITIES
|Audio visual & IT expenses
Equipment Removal & Re -
Assembly
General administration
Insurance
Leadership training and
development
Legal fees
Miscellaneous
Missionary activities
Mortgage Interest
Power and light
Printing & communications
Programmes & events
Rent
Repair & maintenance
Salaries & wages
Transportation
Water & Waste Management
Welfare
Social, Community
Integration & Other
Charitable Expenses
**TOTAL**|**2025**
**2024**
**£**
**£**
680
25,000
11,851
14,114
1,129
1,429
5,700
4,155
5,723
12,004
286
1,427
29,325
66,247
12,521
7,500
4,064
3,894
8,920
5,053
31,260
7,850
16,377
30,000
32,150
4,000
6,300
2,326
3,400
5,558
3,111
11,255
10,280|
|---|---|
||139,643
245,245|
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## 6.
||||2025|2024|
|---|---|---|---|---|
|GOVERNANCE COST||£||£|
|Auditors|||||
|Remuneration|||1000|900|
||||1000|900|
|7.|||||
||||2025|2024|
||||£
|£|
|(Deficit)/surplus on continuing operations|||74,016|16,415|
|Depreciation|||(3,008)||
|Interest Receivable|||||
|(Increase)/Decrease In Debtors|||||
|Increase/ (Decrease) In Creditors|||||
|Net Cash Flow from Operating Activities|||71,008|16,415|
|8.|||||
||£||||
|**Building**|||||
|**NBV as at 01 Sept 2024**|1,037,321||||
|**NBV as at 31st August 2025**|1,037,321||||
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## 9. **Depreciation**
||**£**||
|---|---|---|
|Equipment||15,039|
|20% Dep||3.007|
|Total||12,031|
## 10.
|0.||
|---|---|
|LONG TERM LIABILITY
Building Mortgage
Payment in the year including
interest
Mortgage balance excluding
interest|2025
2024
£
£
578,520
644,767
65,497
66,247|
||513,023
578,520|
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