REGISTERED IN ENGLAND REGISTERED CHARITY NO 1153552 FOUNTAIN OF LIFE CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Clenshaw Minns Limited Chartered Accountsnts
FOUNTAIN OF LIFE CHURCH CONTENTS Page Trustees, annual report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statemcnts 8- 19
Report for the Year Ended 31st December 2024 2024 has been a year of change, reorganising and consolidation. The church had a considerable number of staffing changes in a comparatively short period of time whiih meant that some restructuring and reshaping has been required, a process that has not been entirely completed yet. Our Children, Youth and Families Co-ordinator, att Beckett, left to take up a post at the Diocese of Norwich and our trainee Sports Minister, Matt Cook, left to begin a post as Youth Worker in Worcester. Our Curate, Adam Poole also moved on to his first incumbency. When Matt Beckett left we appointed Amy Nixon to fill part of his role but sadly she struggled with the post and moved on in September. At the time of writing that vacancy has not yet been refilled and the trustees are Still considering some further restructuring. The Pre-school also had 2 members of staff temporarily on maternity and adoption leave respectively. Joe Welch also stepped up to take on the youth work In Ashlll along with his exist5ng role in Kidz Klub when Martha Rees left to start a family. In September Tanya Lynn started as the Children, Youth and Families Development worker for Sw3ffham on a 12-month grant received from the CPRX fund via the Diocese of Norwich. We aim to ralse further funds to extend this post during the course of 2025. Aside from cill of this many of the ministries which operate in the church have continued to provide support and outreacki to the local communities with a high degree of success. The Debt Centre has continued to provide a high-5evel service to people struggling with unmanageable debt and the annual review providea an excellent report. The Pre-school is well attended and despite staffing changes has continued to provide a high standard of care and education for the children attending. Our youth provision tias grown and continues to gather a good number of young people from around the region both on Sunday rnorning and during the week. There have been some challenges ensuring that children's ministry on Sunday mornings has had adequate provision and this has been largely due to the above mentioned changes and restructui-ing. The Trustees have been considering this issue along with some of the other problems that have arisen as the 2 congregations have become busier in the post-Covid-19 era. There are many othei" ministries that have continued to thrive and grow that we do not have space here t.o cover but it has been a joy to see the 2 venues being used with a5 Imuch frequency and vitality as we have seen through the year. A: The Well Christian Centre. Ashill. Thetford, IP25 7BT 1: 01760 441 902 E: admin@folchurch.co.uk IcliurGh.Go.uk the Fountaii) Of Life Cliurch - a missionary congregatioii gf Ihe Church of England www_fo, Charity Number.. 1153552
FOUNTAIN OF LIFE CHURCH TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present thelr annual report 4nd financial statements for the year ended 31. December 2024 The financial statments have been preparcd in accordance with the accounting policies set out in iiote I to the financial statements and comply with the Cliarity's governing documenÈ, the Charilics Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Trinancial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102)" (effective I" January 2019) OBJEC'fivEs AND ACTIVITIES 'ro advance Ihe Christian Religion for the benefit of the public in accordance witli the doctrines of the Church of England. The Trustc¢s have paid due regard to guidance issued by the ChArity Commission in deciding what aclivities the Charity should undertake. ACHIEVEMENTS AND PERFORMANCE 4inAncial review It is the policy of the Charity that unrestricted funds wliich have not been designated for a specific use should bc maintained at a level equivalent to between Ihr¢¢ to six month's cxpenditure. I'he Trustccs consid. that reserves at this levcl will ensure that, in the event of a significant drop in funding. Iliey will be SEblc to Continue tlic Charity's Lent activitie.8 while consideration is given io ways in whi¢h additional ndS may be raised. I'his level of reserves has been maintained Ihroughout the year. STRUCTURE, GOVERNAIYCE AND MANAGEMLNT TE]e"Irustees who served during the year and up to the date of signature of the financial statements weit: Rev'd Pl Wilkinson Rev'd A l)oole Mr G K Cracknell Mrs H ]3eckett ,Mr A Recs M¥s BJ Aslunan Mr S Bullas Mrs C Wilkinson Mr SE.1 Mawditt Mr CS Clark Mrs JD Seainan Mrs R Lovegrov¢-Smith Mi's J Sharp Mr A Joncs Re.signedJan 2024 Mrs 11 MacDonald - ResignedJan 2024
-he Swaffham congregation moved into a building called The Barn, rented from iwaii ham Town Council, at the end of October after a second period of discusslon and iegotiation. The Town Council had expressed a desire to see the building turned Into J vibrant hub for the town and that is what our team of volunteers and Tanya our CYF Alorker have set out to achieve. To that end a number of new groups have been Jstablished including Busy Bees (Craft faroup), Warm Space, Noah's Ark Swaffham, qeartstrings and a Swaffham Youth group. We established the Swaffham Steering JfoLJP to assist with the planning and rLinning of these endeavours and they have )een a blessing to the whole organisation. Each of these ministries have grown in -heir own right and are now regularly attracting increasing numbers of people. We 13ve Blso seen the congregatiun grow in th= past 12 months with weekly attendances 3veraging around the 55-60 Inark. jur board of Trustees have met 6 timeJ durlng the year and, with the help of our liurch adminlstrator (Becky Russell), Flnance Team (Rysla Bane and Lorraine Parker) and Secretary (Jonathan Adams), have done an excellent job o! ensuring that the churcli rernaipÈS coinpliant and focussed on outreach and growth. As ever, It is worthy of note that the church would not thrive as it has done or progress If it were not for our dedicated staff and the army of people who willingly give their tinie In such 3 wide variety of voluntary capacities. We are all indebted to theiii. t 15 inevit3ble that 202E will bring some new challenge5 along with some of those we Ciirry with us from 2024. Changes In government always bring changes to the workplace and we already know that Staff co ets and running costs will increase as we move through the year. At the same time there are areas where further Investment is needed that wp. will rieed to address but we approach these as we have with all things in faith that God provides for the things He has ordained. With abundant blessings, Rev'd Paul Wilkinson A.. The Well Christian. Centre, Ashill, Thetford, IP25 7BT T." 01760 441902 E: admin@folchurcn.co.LIK the Fountaln Of Life church - d ml551011Jl"y coiigregalion of Ihe Churcli of England www.fol¢hurch.co. UK Charity Number: 1153552
FOt5NTAIN OF LIFE CHURCH TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 DECLARATJON The Trustees declare that they have approved the above trustees, report. Signed on behalf of the charity's trustees.. Signatuir(s) Full name(s) Paul Wilkinson Jonathan Adams Position (e.g. Secretary, Chair, etc) Chair Secretary Date 27
FOUNTAIN OF LIFE CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 I report to th¢ charity trustees on rny examination of the accounts of the charity for the yeai. ended 31 December 2024 which are set out on pages 6 to 19. Responsibilities 2nd basis of report As the charity's1rnstees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in canying out my examination I have followed all the applicable Directions given by the Charkty Commission under section 145(5)(b} of the Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a membcT of a body Listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a membei of th¢ Institure of Chartered Accountants in England and Wales, which is one of the listed bodies. I have ¢on]pleted my cxamination. I confimi that no material matters have coine to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the cliarity as required by section 130 of tbe the accounts do not accord with those records. or the accounts do not cotnply with tli¢ applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true alld fair view, which is iiot a matter considered as part of an independent examinatkon. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a Proper undeistanding of the accounts to be reached. Date Gavin Mim Chartered Accountant Clenshaw Minns Limited Chartered Accouniallts Norfolk House 24 Market Place Swaffham PE37 7QH
I,'OUNTAIN OF l.IbFi, CFILJRCH INDFPENDENT EXAMINER'S REPORT I'O THE TRUSTEES I-.OII 'I'I.IF, YF.AR FNDED 31 DECLMBER 2024 I IEpoi'l to the chai'ity Irustees oli my exainiiiation of the accouiits of the charity for the yeai. ended 31 Deceinber 2024 whicli al'e sct out on pag¢s 6 to 19. Ilesponsibffililles and basis of report As the charity's tiustees yoii are responsible for the preparation of the a(Kounls in accordance with tlie I'equii'eineiits of tlie Chai'itics Act 2011 ('tlie Act,). l i'ei)ni'L in respecl of Iny exaiiiiiiatioii of tlie cliariÉy'S accouTkts cai-Lied oiit iindei. sectini) 14.5 nf tlie Acl and in cai'rying oiit Iny exaiiiiiiatioii I have followed all the applicablc DiirLtioiis given by th¢ LI]'11Y Coininissioii iiiidci. section 145(5)(b) of the Act. Independent examiner's stateiiient Since the chai-ily's gross inLome exccLded £250,000 youi. examinei. Inust be a Inember of a b()dy li81.ed iii seclioii 145 of the Cliarities Aci 2011. l Loiifinn that l am qiialified to uiideilake Ihe examination becaiis¢ l am a IneiMber of tl)e Iiislilute ot Chaitered Accouiitants iii Lngland and W2iles, which is onL of the listed bodies. I have compleled Iny cxainination. I cnnfi1.in tliat no ftnatci'ial Inattcrs have come to Iny attentioii in connecÉion witli the exainiiialion giving Ine cause lo believe LI1 in aiiy niatci'ial I'espect., accounting rccoj'ds wcrc iiot kept in I'e5pect of the charity as reqLiircd by seLlii)n 130 of tlie 2. tli¢ aCCOLints do not accord with those i'ecoi'ds. or thc uceouiil's do iiot coini)ly witl) the applicable Irqiiireiiiciits coiiceriiiiig ihe form and content of accolinls set oiil iii Ihc C118ritics (AcL'uiints and Rei)oi'ls) Ilcgulatioiis 20011 oihcr tlidn aiiy Irquii'einenl ilial the accoiiiils give a 'true and fail. view, wliicli is not a niatter con%idered as pai'l of an iiidcpendent exaininulioii. I have iio coiiccriis and have coine aciT)S8 no olher Inatters in coiincction witli tlie examination to w51ich attoi)tion should be di'awn iii tliis iepoi't in ordei. to enable a propel. Iiiidcrstanding of tl]e acuounls lo be I'eaclied. Dale . Gavin Minns CliarLered Accountant Clenshaw Miiins Limited Chaitei'Ld Accoiinlants Norfolk I louse 24 M1( rkL't Place Swaffliam PFJ7 7QH
FOUNTAIN OF LIFE CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DF.CEMBER 2024 Total funds 2024 Total funds 2023 Ullrestrieted Restr&cted Funds Funds Notes Incoming resources Income and endowments from: Donations and legacies Brdnch activities income Grants Other income 306,397 103,871 306,397 128.871 1,800 4,904 244,1 l2 12.776 38,171 976 25,000 1.800 4,904 Total incomlng resources 415,172 26,800 441,972 296,035 Resourees expended Activity and ntnning costs Church missional giving Management and administration costs Branch activities expendirure 88,731 14,054 197,036 98,764 1,800 90,531 14,054 197,036 103,189 96,069 16,009 182,606 4,425 Total resources expended 398,585 6,225 404,810 294,684 Net incomel(expendlture) 16,587 20,575 37,162 lJ51 Net movement in funds 16,587 20,575 37,162 ,35 Funds brought forward Branch activities brought forward 152,511 46,184 152,511 46,184 197,334 Total funds brought forward 198,695 198,695 197,334 Funds carried forward Branch activities carried forward 163,991 51,291 163,991 71,866 198,695 20,575 Total funds carried forward 215,282 20,575 235,857 198,695 Statement of Total Reeognised Galns or Losses Tlie Charity had no recognised gains or losses other tban the above income for the financial year ended 31 December 2024. Change of forniat Tlie presentation of branch acttvities within the [anCIal statements has b¢en revised to show gross income and gross expenditure separately, rather than reporting the net position, to align with accounting policies.
FOUNTAIN OF LIFE CHURCH BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Current assets Stock Community account Business premtum Kidz Klub Noah's Ark Trirst Steps Pre-school Swaffiiam Church Debt Centre Kingdom Bank Ltd 102 25,790 39,516 9,678 7,676 20,375 18.164 8,455 70,000 19,621 45.413 12,958 8,276 28,484 31,265 22,149 71,598 239,764 199,757 Credltors: amounts falllng due wlthln one year (2.707) (1.062) Aceruals 12 (1,200) Net current asset 235,857 198.695 Total assets less current Ilabilitles 235,857 198,695 Tot#1 net assets 235.857 198,695 Totsl Charity funds Restricted funds Unrestricted fvnds 13 13 20,575 215.282 46,184 152.511 235,857 198,695 The financial statements were approved by the Trustees on . and are signed on its behalf by: Trustee . Trustee . The notes on pages 8 to 19 form part of these financial statements.
FOUNTAIN OF LIFE CHURCH NOTES TO THE FTNANCIAL STATEMENTS FOR THF. YEAR ENDED 31 DECEMBER 2024 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost Lonvention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accoiints. The a¢counts have been prepared in accoTdance with the Statement of Recommended Practice: Accounting and Reporting by Charities pr¢paring their accounts An accoidan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on the 16 July 2014 and with the Charities Act 2011. 1.2 Accounting policies The accounts present a true and fair view and the accounting policies adopted are ihose outlined in note ( l . l ). l..l Fund accounting Gcn¢i'al funds are unrestricted funds which are available for use at the discretion of the I'rustees in furtherance of the general objective8 of the charity and which have not been designated for other purposes. Designated fund8 coinprise uni'estricted funds that have been set aside by the "l iusEces foi. particular purposes. I'hc aim and iise of each designated fund is set oiit in thc notes to the financial statements. Investment incoine, gains and losses are allocated to the appropriate fund. 1.4 Incoming resources All incoming rcsouyces are included in the Statement of l+inancial Activili¢s when the charity is legally entitled to the income and thc amount can be quantified with reasonable accuracy. Gifts in kind donated for distribution and includcd at valuation and recogniged a% income when they are distribiited to the projects. Gifts donated for re.%ale are included as income whcn tliev are sold. Donated facilities are iiicluded at the value to the charity whcre this can be quantified and a third party is bearing the cost. No ainoiint are included in the financial statements for services donated by volunteers. Donated services or facilities, which coinprise donated services are included in income at a valualion which is 2n estimate of the financial cost borne by the donor where such a c08t is quantifiable and measurable. No income is recognised whei'e there is no financial cost bome by a third party. Income tax recoverable in relation to donations received under Gift Aid or Deeds of Covcnant is i-ecognised at the time of the donation.
FOUNTAIN Oli LIFE LHURC.H NOI'ES TO THF. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DFCEMBER 2024 1.5 Resources expended All exp¢nditur¢ is accounted for on an accruals basis and has been included undei expetL8e categories that iiggregate all costs for allocation to activities. Where Losts cannot be dii-ectly attributed to particular activities they have been allocated on a basis consistent with ilie use of the resources. Fundrai.8ing costs are those incurred in seeking voluntary contributions and do not include the osts of disseminating tnforniation in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters. Management and administration costs are those incurred in connection with administration of the chaiity and compliance with constitutional and statutory requirements. 1.6 Stocks Stocks are stated at the lower of cost and e4timated selling price Icss costs lo complete and selll Cost coinprises direct materials, and, wherc applicablL, direct labour cosis aT)d those overhcads that hdvc bcen incun'Ld in bringing th¢ slocks to theii present location and condiiion. Iteins hLld for distribution al no or nominal consideration are measured the lower of replaLeinent cost and cost. Net reali%able value is the cgtimated selling price less all estimated costs ot'completion and costs to be inLurred in niai'ketiiJgT, %elling and distribution. 1.7 Cash and casli equivalents Casli and cash equivalents include cash in hand, deposits held at call with banks, other shorc tenn liquid investLnents with original maturities ot"three months ui. less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basicfiiiaiieial assels Basic fAnanLial asscts, which incliide debtors and cash and bank bdlances, are initially mcasurcd at transaction priLe including transaction costs and arc subsequently carricd at amortised Lost using the effective interest method unless the arrangement constitutes a financing transaction, whcre the transaction is measured ai the present value of the future receipts dibcounted dt a market rdte of interest. Financial assets classified as receivable within one year are not amottised. Basicfinanciul liobililies Basic financial liabilities, iThcluding creditQTS and bank loaiis are initially recognised at transaction price unlcss the arrangement constiteS a finanLing Iransaction, where the debt instrLuneiit 15 measured at the present value of the future paymeiits discounted at a markcl rate of interest. E4inanciaE liabilities classified as P<iyable within one year arc not amortiscd. Debt instruEnents are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goodb or services that have been acquired in the ordinary course of operations froin suppliers. Amounts payable are classified as current liabilities if paytnent is due witknin one ycar or less. If not, they -e presented as non-CUet
FOUNTA OF LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. DerecognEÉion offinancial liabilities Financial liabilities are deiLcognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.8 F.mployee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temination benefits are Tecognised immediately as an expensc when the Charity is demonstrably committed to tern]inate the employment of an employee or to provide termination benefits. Restrieted Unrestricted Unrestricted Funds Funds Funds Donations and legacies 2024 2024 2023 Donations Gift aid Other supported projects 199,872 24,468 8,670 105,961 30,760 107,391 233,010 244,112 Branch activities income 2024 2024 2023 Kidz Klub First steps pre-school Noah's Ark Debt Centre 25,505 69,357 600 8,409 3,965 6,370 600 1,841 25,000 25,000 103,871 12,776 Other income 2024 2024 2023 Other resources and conferences Dividends and interest 2,556 2,348 463 5E3 4,904 976 10
FOUNTAtN OF LIFE CHURCH NOTES TO THE FNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted Unrestricted Funds Funds Funds Charitable activities 2024 2024 2023 Church quota Ministers. stipend Funeral fees and weddings Church clubs/ activities Books, Tesoui"ces and catering Coursesl conferences 27,684 38,229 701 15,053 5,071 1,992 25,724 37,102 472 25,678 3,539 3,554 1,800 1,800 88,730 96,069 Church management and administration 2024 2024 2023 Printing, stationery, accounting, website and finance Church running expens¢s Wages, salaries and tax 12,797 29,544 76,874 16,059 20,773 145,774 119,215 182,606 Branch activities expenditure 2024 2024 2023 Kidz Klub First steps pre-school Noah's Ark Debt Centre 22,225 61,249 4,425 15,290 4,425 98,764
FOUNTAIN OF LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Employees The average rnonthly number of employees this year was: 2024 Number 2023 Number 15 13 TheTe were no employees whose annual remuneration was moTe than £60,000. Stock 2024 2023 Stock 102 io. Debtors 2024 2023 Branch activities debtor 4,435 I l. Taxation The chai'ity is exeinpt from taxation on its activities because all its income is applied for charitable purposes. 12. Creditors: amounts falling due within one year 2024 2023 Pension liability Otli¢r taxation and social security I,oii 1,696 699 363 2,707 1,062 13. Accruals 2024 2023 Accrnals 1,200 12
FOUNTAIN OF LIFE CHURCH NOTES TO THF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Charity funds Restricted Unrestricted Total Opening funds brought forward 46,184 152,511 198,695 Reclassification (46,184) 46,184 Movement 20,575 21,022 41,597 Closing fund8 carried fonvard 20,575 219,717 240,292 During the financial year, the trustees Teviewed the llaTe and iiitended use of certain funds previously classificd as restricted. It was detennined that a portion of these ndS no longer met the criteria for classification as restricted. As a result, an amount of £46,184 was Tecl&ssified from rests"i¢ted ndS to unrestricted nds. This reclassification reflects that the funds are now available for use at the discretion of the trustees. 13
FOUNTAIN OF LIFE CHURCH NOTES TO THE FANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Fountain of Lfife Church 2024 2023 Income Giving and collection at all servlces Ashill Swaffl]am Gift day donations Gift aid received Enterest received Restricted donations Event donations Mercy donations Repayment towards salaries Sundry receipts Funeral donations 162,474.74 18,017.21 128,226.06 14,384.41 100.00 30,760.35 512.59 2,625.00 3,770.14 540.00 66,302.33 35,328.73 709.00 24,467.61 2,347.58 90.00 2.556.15 580.00 72,235.66 29,776.59 555.64 Total 313,101.18 283,258.61 Expendiknre Overheads Church Minister Church quota Church rent Gros.8 wage,%- FOL Gross wages - Pre-school Gross wages - Kidz Klub Employers N.1 Employer pension contribution 38,228.70 27,684.00 15,225.00 69,188.74 60,218.54 16,451.80 2,965.74 5,870.64 37,101.72 25.724.00 14,700.00 73,261.12 47,235.85 17,887.40 552.75 6,837.19 Total 235,833.16 223,300.03 Running Costs AdministratTon Insurance Sound and visuals Minibus expenses Printing and copier services Catering expenses Resources Rehoboth publishing 5,548.70 740.37 2,848.12 2,439.55 2.779.05 2,171.21 2,899.38 366.27 6,435.25 2,427.10 2,339.56 1,306.41 2,777.32 1,518.14 2,737.79 190.40 Total 19,792.65 19,731.97 14
FOUNTAIN OF LIFE CHURCH NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 3 I DECEMBER 2024 15. Fountain of Life Church (Continued) 2024 2023 Aetivity Costs Events Youth Activities paid by church members Kids church activÉties Good companions Courses, confercnc¢s & memberships Missiona5 communities & other groups Mercy and crisis costs Funerals and weddings Preschool costs Staff travel costs Other expenses 2,500.71 5,046.97 1.690.00 254.08 391.98 1,992.31 150,00 4,959.99 701.00 65.00 182.35 1,613.18 4,374.46 6,353.80 1,225.00 97.70 346.18 3,553.57 2,888.44 472.00 Total 19,547.57 19,311.15 Church misslonal givlng Donations to church groups and other organisations 14,054.00 14,784.00 Total 14,054.00 14,784.00 Financial Costs Bal charge Accounts, payroll and auditors charge Bank crdit card charge 250.07 6.915.18 4.99 335.94 6,320.04 385.16 Total 7,170.24 7,041.14 Sundry costs Swaffliam church expenses 5,223.64 10,515.22 301,621.26 294,683.51 Opening balance I" January 2024 152,510.09 163,934.99 ProfAtlloss for the year 11,479.92 (11,424.90) Closing balance 31" December 2024 163,990.01 152.510.09 15
FOUNTAtN OF LIFE CHURCH NOTES TO THE FINANCIAL STATF.MF.NTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Braneh Aetlvities Atl January 2024 Incoming At31 resources December 2024 Kidz Klub Noah's Ark First Steps Pre-school Debt Centre 9,678 3,280 7,676 600 20,375 8,109 8 455 13 694 46,184 25,683 12,958 8,276 28,484 Previous year: Atl January 2023 Incoming At31 resources December 2023 Kidz Klub Noah's Ark First Steps Pre-school Debt Centre 5,713 7,076 14,005 6,614 33,408 3,965 600 6,370 1,841 9,678 7,676 20,375 8,455 46,184 16
FOUNTAIN OF LIFE CHURCH NOTF.8 TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 3 I DECEMBER 2024 18. Kidz Klub 2024 2023 Income Donations Fees 25,252.49 252.53 26,734.00 817.00 Total 25,505.02 27,551.00 Expenditure Wages I"r2ininglconference fees TeaLhinglmusic r¢sourc¢s Resources Printingltelephone E lire Pi'oi)slgames/pL'iZCS IILtresliments mi.scellaneous Minibiis PubliciLy 18,638.57 15.00 108.15 871.15 680.19 340.00 695.27 120.38 9.99 353.73 392.71 19.330.92 20.00 25.14 712.74 725,93 1.150.00 648.99 304.83 251.45 415.95 Total 22,225.14 23,585.95 Op¢iiiiig balancc 1$1 January 2024 9,678.01 5,712.96 Excess incomelexp¢nditure foi the year 3,279.88 3,965.05 Closing balance 31., Dccembei. 2024 12,957.89 9,678.01 17
FOUNTAIN OF LIFE CHURCH NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. First Steps Pre-school 2024 2023 Income NCC Parents Fees Uniforn] Sales Grant Additional charges Refunds Donations Edenred Vouchers 63,66l.55 4,996.46 57,906.30 8,904.80 28.00 148.50 290.00 28.00 101.99 240.00 310.25 Total 69,356.76 67,259.09 Expenditure Operation Mobilisa Wages Rent Uniforn] Food - consumables Admin Craft Equipment Training Cleaning Other Membership Lnsurance 180.00 53,597.09 3,960.00 230.70 32.57 314.35 257.30 987.65 224.14 87.40 877.43 230.81 268.82 180.00 49,762.61 3,960.00 70.30 66.89 554.12 267.80 2,499,57 445.95 3,082.10 Total 61,248.26 60,889.37 Opening balance I St January 2024 Excess incomelexpenditure for the year 20,375.68 8,108.50 14,055.96 6,369.72 Closing balance 31" December 2024 28,484.18 20,375.68 18
FOUNTATN OF LIFE CFtURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Noah?s Ark 2024 2023 Income FOL 600.00 600.00 Total 600.00 600.00 Opening balance I" January 2024 Excess incomelexpendilure for the yeat. 7,675.71 600.00 7,075.71 600.00 Closing balance 31$1 December 2024 8,275.71 7,675.71 21. Debt Centre 2024 2023 Income Grants Donations Interest received 25,000.00 8,342.76 65.94 12,000.00 8,603.00 Totsl 33,408.70 20,603.00 Expenditure Reimbursements and travel Telephone Postage & stationai'y CLC net wages Sundry Manager fee CAP HQ contribution 1,410.93 242.63 34.99 1,008.85 286.18 47.22 1,772.47 210.00 12,437.40 3,000.00 219.51 14.806.83 3,000.00 Totsl 19,714.89 L8,762.12 Opening balance 1°, January 2024 Excess incomelexpenditure for the year 8.454.99 13,693.81 6,614.11 1,840.88 Closing balance 31" Deceiiiber 2024 22,148.80 8,454.99 19