REPORTS OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 FOR FIRE FOUNTAIN MINISTRIES INTERNATIONAL TH
CONTENTS CHURCH INFORMATION ........ TRUSTEES REPORT........... INDEPENDENT EXAMINERS'S REPORT............ INCOME & EXPENDITURE ACCOUNT................. BALANCE SHEET... NOTE5 TO ACOUNTS....................
ORGANISATION INFORMATION NAME OF ORGANISATION: FIRE FOUNTAIN MINISTRIES INTERNATIONAL TELEPHONE . 020 3669 3254 TRUSTEES; Pastor Daniel Danny Danquah Ms Nancy Williams Mr Michael Boateng Mrs Gifty Kyei Danquah Mr Benjamln Hagan REGISTERED OFFICE: I LAMMAS DRIVE BRAINTREE CM7 3U
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustee5 have a duty to identify and review 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 systems have been designed and established to mitigate those risks. OBJECTIVES AND ACTIVITIES Objectives and aims The objectives of the church are: i. The propagation of the gospel of Jesus Christ li. The relief of poverty iii. Education The Trustees have given careful consideration to the Church's general guidance on public benefit. Activities during the year The Church continued its programme of reaching more people for God. The normal activities of Sunday and weekday services continued. Church fellowship on the last Fridays of the month continued to be a success. The church during the year continued to Services its leased premises and continue worship in the refurbished auditorium. The lease rent and rates is up from £6,666 monthly to £12,476 in the light of current energy and general costs of living crisis. The trustees pray members of the church keep up with this new unexpected increase. The Church continued to be of immense assistance to members in diverse financial 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 joy and bereavement. The church conducted several marriage ceremonies and christening of babies during the year. The Church supported members at the sad times 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 it5 evangelistic mission through out the year ensuring that its message reaches a wider audience in the UK. The word of God was brought to the homes of many people through the distribution of audio message5 of prayers and sermons. The church prepared and distributed freely daily bible reading and prayer guide and also offered financial assistance to international faith organisations.
FINANCIAL REVIEW Reserves policy The Trustees acknowledge that it will require about £43,000 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 £12,500 reserve funds account with the bank. Operational income and expenditure For the year under review, the church made a financial deficit of (£31,749) against (£40,839 deficit in 20231 Total offerings, donations and other income received was £326,1881£240,361 in 2023) this was up from last year. Total operating cost was £357,937 (£281,200 in 2023) this was up and mainly due to increased Rent & Rates and Energy costs from direct church worship. Trustees believe that the years pandemic has re-enforced the use of internet, phone apps, and tweeter, what's up and the Facebook as a future long -term strategy to expand the Ministry. Volunteer services 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.
STATEMENT OF MANAGEMENT RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustee5 and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe 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 business. The trustees are responsible 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 assets of the charitable company and hence fortaking reasonable steps for the prevention and detection of fraud and other irregularities. ON BEHALF OF THE TRUSTEES.. Signature
INDEPENDENT EXAMINER'S REPORT RESPECTIVE RESPONSIBILITIES 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 43{2) of the Charities Act 1993 (the Act) 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 4317)(b) of the Act, 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 commissioners. An examination includes a review of the accounting 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 by the accounts. INDEPENDENT EXAMINER'S STATEMENT: 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 accounting 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 requirements of the Act has not been met. SA 7itrf4É E A Winful, FCCA EA WINFUL & ASSOCIATES CHARTERED CERTIFIED ACCOUNTANTS 18 HERO WALK ROCHESTER MEI 2UZ
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 INCOME AND EXPENDITURE Notes Unrestricted Restricted 2024 2023 Incoming Resources Offering & Donations 272,830 272,830 202,565 Investment Income 3,623 3,623 3,198 Other Incorne 49,735 49,735 34,598 Total Income Resources 326,188 240,361 Resources Expanded Cost of Activities 1357,9371 1281,2001 Total Resources Expanded (357,9371 1281,2001 Net Incoming / (Outgoing) Resources 131,7491 140,8391 Funds brought forward 3010612023 132,880 173,719 Designated funds utilised Funds carried forward 3010612024 101,131 132,880 See notes on the following pages for detailed analysis of income and expenditure CONTINUING OPERATION The Church continued to operate in Its developed leased premises during the year. The entire capital expenditure is written off in the income and expenditure account during the year. Gift aid income processed in the year and paid by the HMRC is shown as such under other incorne in the financlal statement Covenant partners continued their Support of flxed monthly fsnancial givings. The pandemic contributed in the decline in March to June income during the year. The trustees express their slncere appreciation to the entlre members of the church and the covenant partners for their generious givin85 esperclally during the pandemic lockdown TOTAL RECOGNISED GAINS AND DEFICITS The church ha5 no recognised gains or deficits other than the surplus for the current year The notes form part of these accounts.
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 BALANCE SHEET AS AT 30TH JUNE 2023 FIXED ASSETS Note 2024 2023 Fixtures & Fittings 10,779 11,594 10,779 11,594 CURRENT ASSETS Trade Debtors Bank Saving5 Bank current Cash in hand 49,735 6,125 37,592 34.598 9,461 80,327 93,452 124,386 CREDITORS.. Amounts falling due within one year.. Trade Creditors {3,100} 13,1001 13,1001 13,1001 Net Current Assets / (Liabilities) 90,352 121,286 CREDITORS.. Amounts falling due for more than one year Loan Total Assets le55 Liabilitie5 101,131 132,880 UNRESTRICTED FUNDS brought forward Surplus for the year Designated funds Total Funds 132,880 131.7491 173,719 140,8391 101,131 132,880 Signature
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIALSTATEMENTS FOR THE YEAR ENDED 30JUNE 2024 Notes to the Financial Statements ACCOUNTING POLICIES 1.1 Accounting Convention The accounts have been prepared under the hlstorical cost conventlon, and In accordance with SORP 2 Accounting for Charities. 1.2 Exemption has been taken from preparing a cash flow statement on the grounds that the church 15 a Small undertaking. 1.3 Incoming Resource5 Incoming Resources represents tithes. collection5 and donations income due in the year. 1.4 Fixtures & Fittings.. The value of Fixtures & Fittings, musical instruments capitalised are written off to expense at its life at IO% fixed rate depreciation Fixtures Cost @ 1107122 Additions IAC & Musical instruments) Sub total Cum Deprec Deprec @ io% NBV 30,651.95 2,500.00 33,151.95 19,057.88 3,315.20 10,778.88 Depreciation charge for the year 13,3151
FIRE FOUNTAIN MINISTRIES INTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Notes to the Flnancial Statements Notes 2024 2024 2024 2023 GENERAL OFFERINGS Offering Harvest Tithes Total Income Received Unrestricted 189,888 27,271 55,671 Restricted 189,888 27,271 55,671 272,830 175,198 27,367 202,565 INVESTMENT INCOME Bank interest Welfare saving interest Total Investment Income 965 2,658 965 2,658 3,623 684 2,514 3,198 OTHER INCOME Unrestricted Restricted Gift Aid Receivable Other grant Total Other Income 49,735 49,735 34,598 49,735 34,598 5a COST OF AcfiviTIES Premises Rent & Rates Gas & Electric Cleaning & Maintenance Wages & Salary Evangelism & Mission Charitable Welfare & Donations Transport, Motor & Travel Insurance Music & Sound maintenance Bank Charges Office Admin & Telphone Publicity & Online programme Total Cost of Activitie5 1203,8911 122,3971 11,0451 127,6621 129,5661 14,8641 122,7841 13,2861 {20,3001 12,8331 110,6061 12,2891 (351,5221 1130,1791 {7,9781 112,3071 126,5441 126.4941 16,670} 127,7691 13,5321 {19,8111 18,8821 14,870) 1275,0351 Depreciation charge for the year 13,3151 13,0651 5b GOVERNANCE sc Accounting & legal 13,1001 13,1001