ItELiIJIEiVJ IM Jd P.AaEI apOdYP￿0 PJBO8 pwxhje spm yodgj (zzoz LJJtytpZ P•UK)ddv} luoz pjdytrz P￿￿ddv> ia06 l￿dy￿Z paJui(rtJdv} (UOlJaqOF)o k£ pw6tsèu) ueubEaS ar Jw U.IPMBIN HS J iIOspJBy)I￿ N JV4 eaus s SJ uosiir41lM gUeMrJ UgPPO9 93 J seiin8 s upwysv r8 5 SOtI) VJY4 Ila)lJa8 H SJ y8 J 4￿d v pma UOknIxi4M Ad PJ¥ gJaMsJuauR￿ io Jo qEP oi (kn pupJpaA 6uunp tsw￿ s•swi ? waw*uEw pup WUPWaAo6'pJni?n4s "JpaAatg woy6F¥O￿tt ￿Ul￿tNe(lI tBaq se4 Se￿8$&1 JO PA81 *U"pgÈw aq spunj UèAF6 ￿ uO4PJa￿l￿ IUWJ anu.r4iW 01 alqB '6uipury u! do4) lU￿￿.￿&S E 10 iuaAa u! 'IPill aJnSlla iLIM SILU ie saAEgsaJ ieLD Jw.surLI a￿.?jn￿RdXè s.wuow pue uaawaq 01 iUglFAinb#19A•I E IP pauteitJi?iii aq wftous asn E Joj rwpu6!sap spunj pa¥KrysgJun iwi Awpu io Agtpd aw sj }[ M•!ha2 IE!gUEUI uuoyad puv *UèWèAa!11?V 'a¥ey•wft pinous iew E￿ip￿ap uowuwwJ AW￿ Aq PJE6oJ anp PlEd aAE4 $081SNi 4 Saw.A￿E PU# SVA4*!qo 61￿ thnuer L aAlPWg) .Izok puepJi Jo ￿￿nd?￿l PUE yn aRe4dde PJEpu￿s 6Lt0¥Xl￿ iewEiII3 OIU 4llhl 8JUEIXKmB u! 4urro)E Ji?w 6uuedèJd Sè4LE4J oi qwipgde OJ4JWd P8PUWJK*)èkl JO IUaiUOIElS .'*.ryue43 Aq bunJoda8 WE 6uryun**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
318,695
-
Branch activities
**3**
-
2,120
Grants
17,846
-
Other income
**4**
201
-
**Total income**
336,742
2,120
**Expenditure on:**
Activity and running costs
**5**
106,128
-
Church external giving
18,570
-
Management and administration costs
**6**
165,671
-
**Total expenditure**
290,369
-
**Net income/(expenditure) for the year/**
**Net movement in funds**
46,373
2,120
Fund transfer
_2,075_
_(2,075)_
Fund balances at 1 January 2022
115,488
33,364
**Fund balances at 31 December 2022**
163,936
33,409|**Total**
**2022**
**£**
318,695
2,120
17,846
201
338,862
106,128
18,570
165,671
290,369
48,493
_-_
148,852
197,345|**Total**
**2021**
**£**
225,224
(3,324)
5,000
89
226,989
81,897
15,503
140,038
237,438
(10,449)
_-_
159,301
148,852| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 6 - ## **FOUNTAIN OF LIFE - ASHILL** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2022**_ |**Notes**
**Current assets**
Stocks
**14**
Community account
Business premium
Kidz Klub
Noah's Ark
First Steps Pre-school
Swaffham Church
Debt Centre
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets
**Income funds**
Restricted funds
Unrestricted funds|**2022**
**£**
104
17,069
135,110
5,713
7,076
14,006
12,485
6,614
198,177
(832)|**£**
197,345
33,409
163,936
197,345|**2021**
**£**
102
19,947
96,947
8,905
6,476
7,100
1,000
8,808
149,285
(433)|**£**
148,852| |---|---|---|---|---| |||||33,364
115,488| |||||148,852| The financial statements were approved by the Trustees on ......................... .............................. Rev'd PF Wilkinson **Trustee** - 7 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **Charity information** Fountain of Life - Ashill is an education/training provider. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Charity is a Public Benefit Entity as defined by FRS 102. The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 8 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** **(Continued)** ## **1.5 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 are allocated on the portion of the asset’s use. ## **1.6 Stocks** Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. - 9 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.8 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Donations and legacies** |**Unrestricted**
**funds**
**2022**
**£**
Donations
184,272
Gift aid
42,588
Collections (open plate)
1,341
Other supported projects
90,494
318,695|Total
2021
£
117,868
21,817
1,469
84,070| |---|---| ||225,224| ## **3 Branch activities** |Kidz klub
First steps pre-school
Noah's ark
Debt centre
Branch activities|**Total**
**2022**
**£**
(3,192)
6,906
600
(2,194)
2,120|Total
2021
£
(2,497
(5,113
1,097
3,189| |---|---|---| |||(3,324| ## **4 Other income** |Other resources and conferences
Dividends and interest|**Total**
**2022**
**£**
14
187
201|Total
2021
£
37
52| |---|---|---| |||89| - 10 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **5 Charitable activities** |**5**
**Charitable activities**||| |---|---|---| |Church quota
Ministers stipend
Funeral fees and weddings
Church clubs/activities
Books, resources and catering
Courses /conferences
**6**
**Church management and administration**
Printing, stationery, accountancy and website
Church running expenses
Wages, salaries and tax|**Total**
**2022**
**£**
28,813
38,097
112
35,447
3,559
100
106,128
**Total**
**2022**
15,032
18,803
131,836
165,671|**Total**
**2021**
**£**
23,474
32,219
1,213
22,577
1,829
585| |||81,897| |||Total
2021
13,969
19,496
106,573| |||140,038| - 11 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**7**|**Fountain of Life Church**
**Income**
**Giving and collection at all services**
Ashill
Swaffham
Gift day donations
Gift aid received
Interest received
Restricted donations
Event donations
Mercy dontations
Repayment towards salaries
Sundry receipts
Funeral donations
**Expenditure**
**Overheads**
Church minister
Church quota
Church Rent
Gross wages - FOL
Gross wages - Pre-school
Gross wages - Kidz Klub
Employee Pension contribution
**Total**
**Running costs**
Administration
Sound and visuals
Minbus expenses
Printing and copier services
Catering expenses
Resources
Rehoboth publishing
**Total**
**Activity costs**
Events
Youth
Activies paid by church members
Kids chruch activities
Good companions
Courses, conferences & memberships
Missional communities and other groups
Mercy and crisis costs
Funeral and weddings
**Total**|**2022**
126,605.74
15,296.24
77,419.37
42,588.19
186.89
2,175.90
936.06
5,033.86
50,815.88
15,478.39
206.00| |---|---|---| |||336,742.52| |||38,096.74
28,814.00
14,700.00
71,956.35
38,702.17
16,507.08
4,670.28| |||213,446.62| |||6,624.20
2,310.73
1,792.49
3,297.83
2,155.69
7,151.50
16.80| |||23,349.24| |||4,009.87
3,693.50
2,237.90
51.38
1,560.42
100.31
349.41
8,779.87
112.00| |||20,894.66| - 12 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**7**|**Fountain of Life Church**
**(Continued)**
Church donations to other groups
16,582.20
**Financial costs**
Bank charges
353.98
Accounts, payroll and auditors charge
4,739.68
Bank credit card charge
452.56
**Total**
5,546.22
**Sundry costs**
Swaffham church expenses
10,551.05
290,369.99
**Opening balance 1st January 2022**
115,488.00
**Profit/loss for the year**
46,372.53
**Fund transfer**
2,075.46
**Closing balance 31st December 2022**
163,935.99|**Fountain of Life Church**
**(Continued)**
Church donations to other groups
16,582.20
**Financial costs**
Bank charges
353.98
Accounts, payroll and auditors charge
4,739.68
Bank credit card charge
452.56
**Total**
5,546.22
**Sundry costs**
Swaffham church expenses
10,551.05
290,369.99
**Opening balance 1st January 2022**
115,488.00
**Profit/loss for the year**
46,372.53
**Fund transfer**
2,075.46
**Closing balance 31st December 2022**
163,935.99| |---|---|---| |||5,546.22| |||10,551.05| |||290,369.99| |||115,488.00| |||46,372.53| |||2,075.46| |||163,935.99| - 13 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **8 Kidz Klub Accounts** |**Income**
Donations
**Expenditure**
Wages
Training/Conference Fees
Teaching/Music Resources
Resources
Printing/Telephone
Hire
Prop/Games/Prizes
Refreshments
Miscellaneous
Minibus
Opening balance 1st January 2022
Excess Income/ (Expenditure) for the year
Closing balance 31st December 2022|**2022**
18,179.00
18,179.00
17,794.60
62.40
111.31
376.86
740.96
870.00
578.31
301.43
358.00
177.00
21,370.87
8,904.83
(3,191.87)
5,712.96|**2021**
17,920.08
17,920.08
16,450.27
-
175.71
696.12
946.71
377.68
1,005.77
167.90
475.44
121.25
20,416.85
11,401.60
(2,496.77)
8,904.83| |---|---|---| - 14 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **9 First Steps Pre-school** |**Income**
NCC
Parents Fees
Uniform Sales
Grant
Additional Charges
Refunds
Donations
**Expenditure**
Operation Mobilisa
Wages
Rent
Uniform
Food - consumables
Building improvements
Admin
Craft
Equipment
Training
Donations
Cleaning
Other
Opening balance 1st January 2022
Excess Income/ (Expenditure) for the year
Closing balance 31st December 2022|**2022**
46,701.55
4,447.68
-
349.00
101.30
-
2,331.00
53,930.53
180.00
40,595.59
3,960.00
76.50
17.82
-
745.56
61.29
578.12
340.00
-
8.49
461.27
47,024.64
7,100.07
6,905.89
14,005.96|**2021**
32,302.76
6,871.55
47.00
-
93.90
79.00
235.76
39,629.97
180.00
36,598.91
3,960.00
45.25
43.58
361.28
1,657.66
318.71
505.51
27.30
270.94
377.19
396.93
44,743.26
12,213.36
(5,113.29)
7,100.07| |---|---|---| - 15 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ |**10**
**Noah's Ark**
**Income**
FoL
Opening balance 1st January 2022
Excess Income/ (Expenditure) for the year
Closing balance 31st December 2022|**2022**
600.00
600.00
6,475.71
600.00
7,075.71|**2021**
1,096.50| |---|---|---| |||1,096.50
5,379.21
1,096.50| |||6,475.71| - 16 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **11 Debt Centre** |**Income**
Grants
Donations
**Expenditure**
Reimbursements and travel
Equipment
Telephone
Postage & stationery
CLC net wages
Sundry
Manager fee
CAP HQ Contribution
Opening balance 1st January 2022
Excess Income/ (Expenditure) for the year
Closing balance 31st December 2022|**2022**
5,000.00
7,130.50
12,130.50
722.09
8.00
278.00
126.21
2,163.12
19.35
8,008.03
3,000.00
14,324.80
8,808.41
(2,194.30)
6,614.11|**2021**
7,500.00
9,618.34| |---|---|---| |||17,118.34
273.50
-
210.66
108.25
2,044.20
-
8,292.33
3,000.00| |||13,928.94
5,619.01
3,189.40| |||8,808.41| - 17 - ## **FOUNTAIN OF LIFE - ASHILL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **12 Employees** The average monthly number of employees during the year was: |**2022**|**2021**| |---|---| |**Number**|**Number**| |14|14| There were no employees whose annual remuneration was more than £60,000. ## **13 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **14 Stocks** |**Stocks**||| |---|---|---| |Stock
**Creditors: amounts falling due within one year**
Other taxation and social security
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 31
December 2022 are
represented by:
Current assets/(liabilities)
163,936
33,409
163,936
33,409|**2022**
**£**
104
**2022**
**£**
832
**Total Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
197,345
115,488
33,364
197,345
115,488
33,364|**2021**
**£**
102| |||**2021**
**£**
433| |||**Total**
**2021**
**£**
148,852| |||148,852| ## **15 Creditors: amounts falling due within one year** ## **16 Analysis of net assets between funds** - 18 - Iyrfl SV . ao s3￿Sn￿3HlOl (03nNiLNOg)I¥Oda¥ S,¥0￿onV￿aQWaaaQNI .IIIHSV. .- 3an Jo N￿￿n0