REPORTS OF THE TRU5fEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30- JUNE 2021 FOR FIRE FOUNTAIN MINISTRIES INTERNATIONAL
CHURCH INFORMATION.............. TRUSTEES REPORT......................................-. INDEPENDENT EXAMINERS'S REPORT..... INCOME & EXPENDITURE ACCOUNT.... BALANCE SHEET................................... NOTESTO ACOUNTS..................................................... .
ORGANISATION INFORMATION NAME OF ORGANISATION: FIRE FouAIN MINisfRIES INTERNATIONAL TELEPHONE . 020 3669 3254 TRUSTEES: Pastor Danlel Danny Danquah Ms Nancy Wllliams Mr Mkhael Boateng Mrs Glfty Kyel Danqvah Mr 8enJamln Hagan REGisfEREO OFFICE: I LAMMAS DRIVE BRAINTREE CM7 3U
sTrucruRE. GOVERNANCE AND MANAGEMEKr Risk management The trustees have a duty to identify and rewew the risks to which the church is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees confirm that considerations have been given to the major risks to which the church is exposed and that Svstems have been designed and established to mitigate those risks. OBJECTIVES AND AcnvmES Objectives and alms The objectives of the church are: The propagation of the gospel of Jesus Christ ii. The relief of poverty iii. Education The Trustees have given careful consideration to the Church's general guidance on public benefit. Actlvltles durln8 the ar The Church continued Its programme of reaching more people for God. The normal activities of Sunday and weekday services continued. Church fellowship on Fridays continued to be a 5ucce$5. The church durin8 the year acquired a leased premises and refurbished Into a worship auditorium with the help and assistance of its members. The Church continued to be of immense assistance to rnembers in diverse financlal needs. Members were assisted with welfare assistance. travelling expenses, accommodation assistance, among others. The church provided strong support to members and their families in times of loy and bereavement. The church conducted several marriage ceremonies and christening of babies during the year. The Church supported members at the sad time5 of funerals. Members were prayed for at such times and encouraged with the word of God. Sicknesses and ailments are part of life. On occasions when members or their families are hospitalised. prayers of deliverance were freely offered. Evangelism The church continued with its evangelistic mi$5ion through out the year ensuring that its message reaches a wider audience in the UK. The word of God was brought to the home5 of many people through the distribution of audio messages of prayers and sermons. The church prepared and distributed freety daily bible reading and prayer guide and also offered financial assistance to international faith organisations.
FINANCIAL REVIEW Reserves polky The Trustees acknowledge that it will require about £20,(KM) for three month's operation without any income. The general reserve is more than the safety level, and this level is to be maintained. The Trustees by strategic planning are to maintain the level of secured funds in the next 5 years by setting up a £12.11 reserve funds account with the ban Operatlonal In¢orne and expenditure For the year under review. the church rnade a financial surplus of £17.978 against (£49,426 deficit in 20201 Total offerlngs. donations and other income received was £235,5521£153,437 in 20201 this was up from last year. Total operating cost was £217.5741£202.863 in 20201 this was up and mainly due to increased evangelism and mission through direct church worship and other social media activtties from openlng up churches followin8 the lockdown during the pandemic Trustees believe that the years pandemic has re-enforced the use of internet, phone apps, and tweeter, whays up and the Facebook as a future long-temi strategy to expand the Ministry. Volunteer servl¢es The Trustees would like to mention the work of several dedicated volunteers whose contribution immensely contributed to the work at the church. The church benefited from these services provided free of charge. The trustees once again extend a big thank you to all its volunteers.
srATEMEKf OF MANAGEMEhrr RESPONSIBILMES The trustees are responsible for preparin8 the Report of the Trustees and the flnanclal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practitel. Company law 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 charitable company and of the incoming resour5 and application of resources. including the income and expenditure, of the charitable company for that period. In preparin8 those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently: obseNe the methods and principles in the non for profit SORP.. make judgements and estimates that are reasonable and prudent: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the church will continue in busines5. The trustees are responslble for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ON BEHALF OF THE TRUSTEES: ZZ) ?4•Y4A Signature
INDEPENDENT EXAMINEIVS REPORT RESPEcfivE RESPONS181LmES OF MANAGEMENT AND EXAMINER: As the church trustees you are responsible for the preparation of the accounts,. you consider that the audit requirement of section 43121 of the Charities Act 1993 (the Actl does not apply. It is my responsibility to state. on the basis of procedures specified the General Directions given by the Charity Commissioners under section 4317llbl of the Act. whether particular matters have come to my attention. BASIS OF INDEPENDEpif EXAMINER'S REPORT: My examination wa5 carried out in accordance with the General Direction5 given bv the Charity commissioners. An examination includes a review of the occountin8 records kept by the church 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 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 I do express an audit opinion on the view given bythe accounts. INOEPENDEKf EXAMINEVS STATEMEKr: In connection with my examination. no matter has come to my attention, which gives me reasonable cause to believe. that any material respects the requirements l. to keep accountin8 records in accordance with Section 41 of the Act and 2. to prepare accounts which accord with the accounting records and to comply with the accounting requirernents of the Act has not been met. A Winful. FCCA CHARTERED CERTIFIED AccouKfAllfS 18 HERO WALK ROCHEsfER MEI 2UZ
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED30JUNE 2021 INCOME AND EXPENDITURE Notes Unrestricted Restricted 2021 2020 Incoming Resources Offering & Donation5 190,773 190,773 114,414 Investment Income 894 8,894 483 Other Income 35.885 35,885 38,540 Total Income Resources 235,S52 153.437 Resources Expanded Cost of Activities {217,5741 1202,8631 Total Resources Expanded (217,5741 1202,8631 Net Incomlng I IOut8oln81 Resources 17,978 149,4261 Funds brought forward 3010612020 119,508 168,934 Deslgnated funds utllised Funds carrled forward 3010612021 137,486 119.508 See notes on the following pages for detsiled anatysi5 of income and expenditure CONTINUING OPERAMON The Church continued to operate in its developed leased premises durin8 the year. The entire capital expenditure Is wrltten off in the income and expendtture account during the year. Gift aid income processed in the year and paid by the HMRC shown ès such under other incorne in the financial statement Covenant partners continued their support of fixed monthly financial gwings. The pandemic contributed in the decllne in March to June income during the year. The trustees express their sincere appreciation to the entire members of the church and the covenant partners for their generious givings espercialty during the pandemlc lockdown TOTAL RECOGNISED GAINS AND DEFICITS The church has no recognised 8ains or defKits other than the surplus forthe current year The notes form part ofthese accounts.
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2021 BALANCE SHEET AS AT 30TH JUNE 2020 FIXED ASSETS Note 2021 2020 Fixtures & Ftttings 18,130 21,195 18,130 21,195 CURRENT ASSETS Investment Bank Savings Bank current Cash in hand 11,893 114.403 5,204 107,253 126,296 112,457 CREDITORS: Amounts falllng due wlthln one year: Trade Creditors 16,9401 114,1441 16,9401 114,1441 Net Current Assets / Iliabllitles) 119,356 98.313 CREDITORS: Amounts falling due for more than one year Loan Total Assets less Liabilities 137,486 119,508 UNRE5TRIED FUNDS brought forward Surplu5 for the year Designated funds Total Funds 119.508 17.978 168,934 149,4261 137.486 119.508 Signature
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2021 Note$ to the Financial Statements ACCOUNTING POLICIES 1.1 Accounting Convention The accounts have been prepared under the historical cost convention. and in accordance wlth SORP 2 Accountlng for Charitie5. 1.2 Exemption has been laken from preparin8 a cash flow statement on the grounds that the churth is a small undertaking. 1.3 Incomln8 Resources Incoming Resources represents tlthes, collections and donatlons income due in the year. 1.4 Flxtures & Flttings: The value of Fixtures & Fittirb851 musical instruments capitalised are written off to expense at bts life at 11)% fixed rate depreciation Fixtures Cost @ 1107119 Addltions IAC & Muslcal Inslrumentsl Sub total Cum Deprec Deprec @ io% NBV 30.651.95 30.651.95 9,456.68 3,065.20 18,130.08 Depredatlon charge for the year 13.0651
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Note5 to the financlal Statements Notes 2021 2021 2021 2020 GENEIiAL OFFERINGS Tithes & Offering Hatwest Offering Total Income Received Unrestricted Restricted 160,527 30,246 160,527 30,246 I,773 102,139 21,563 114,414 INVESTMENT INCOME Bank interest Welfare savlng interest Total Investment Income 298 185 483 8.514 ,514 8,894 OTHER INCOME Unrestrlcted Re5trided Glft Ald Recelpt5 Other grant Totgl Other Income 34.747 1,138 34.747 1,138 35,885 26,010 3,242 38,540 Sa COST OF AcnviTIES Salary Premises Rent & Rates Gas & Electric Cleanlng & Malnlenance Evangelism & Mission Charitable Weffare & Donatlons Transport, Motor & Travel Insurance Music & Sound maintenance Fixtures & Ftttings Office Admin & Telphone Advert & Event Promotion Total Cost of Actfvltles 119,2811 198,9831 14,1271 15.4491 111.5001 15.188) 133,3821 15.4821 114,0511 16,3291 14,6641 14,072) 1212.5091 119,2811 195,6111 15,8091 118,4741 111,8871 16,2501 123,6091 13,9701 14,7391 18,1681 1197,7981 Depreciation charge for the year 13,0651 13,0651 5b GOVERNANCE Accountants fee sc 12,1)CK)I 12,0001