ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity Registration Number 1168242
Financial Report for the period to 31 December 2022
Registered Address: Ithaca House, 27 Romford Road, London E15 4LJ
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2022
| Contents | |
|---|---|
| Page | |
| Charity Information | 1 |
| Trustees Report | 2 |
| Income & Expenditure - SOFA | 3 |
| Balance Sheet | 4 |
| Notes to the accounts | 5 - 8 |
| Independent Examiner's Report | 9 |
Accounts - Eternal Glorious Fountain Ministry
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2022
Charity Information Trustees Elizabeth Maina Olukayode Afolabi Rev Kayode Oyegoke Dr Kaidian Baird Registered Address: Ithaca House 27 Romford Road London E15 4LJ Registered Charity Number: 1168242 Accountants: Valiant Waters Associates 16-18 Pampisford Road Croydon CR8 2NE
Accounts - Eternal Glorious Fountain Ministry
Page 1
ETERNAL GLORIOUS FOUNTAIN MINISTRY Charity No. 1168242 Financial Report for the period to 31 December 2022 Trustees Report Eternal Glorious Fountain Ministry r8gi81ered as a Charity Incorporated Oryanisation on th8 15 July 2016. The main obje¢lives of the charity a lo.. advance the christian faith for the benefit of the public through the hdding5 of meetings, lectures, producing and distributing christian literature lo enlighten others about christianity and through broadc851ing evangelistic and teaching m8ssag8s', estsblish and run church88. We ronb.nued lo advan¢e our tsbje¢tives in the Course of the year. and will continue to achieve more of those objectives in the future. Th8 achi8V8m8nt of our obj8ctiv8s d8p8nd gr8ady on th8 contributions of our diligent volunteers forwhich we are 8ver so gr8t&ful. The following served as the trustees during the year under reptsrt.. Eliz3beth Maina Olukayode Afolabi Rev K8yod8 Oyegok8 Dr Kaidian Baird Signed on behalf of the Trustees.. Natne.. Olukayode Afolabi Signature.. Date.. 21.Jan-22 Page 2 Accounts- Etemal Gloritsus Fountain Ministry
Charity No. 1168242
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Financial Report for the period to 31 December 2022
Income and Expenditure Account
| Income and Expenditure Account | ||
|---|---|---|
| Income Expenditure Cost of Sales Preaching Charges Gross Surplus Administrative Expenses Travel & Subsistence Telephone/Broadband Expensed Equipment Administrative Costs Bank Charges Retreat & Convention Rent & Hire Staff Salaries HMRC Paid Professional Fees Total Administrative Expenses Net Surplus Before Tax Corporation Tax Payable Net Surplus After Tax Funds Brought Forward Funds Carried Forward |
2022 £ £116,980 11,709 11,709 105,271 3,555 367 4,886 4,856 372 43,920 21,980 21,215 6,082 1,311 108,545 (3,274) - (3,274) 2,143 (1,131) |
2021 £ |
| 43,901 | ||
| 22,479 | ||
| 22,479 | ||
| 21,421 | ||
| 351 249 171 922 - 8,574 9,057 - - 1,436 |
||
| £20,761 | ||
| 661 | ||
| - | ||
| 661 1,482 |
||
| 2,143 |
Page 3 Accounts - Eternal Glorious Fountain Ministry
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2022
| Statement of Financial Activities Unrestricted Restricted Total Funds Funds Funds 2022 £ £ £ Incoming Resources Donations 71,179 45,801 116,980 Total Incoming Resources 71,179 45,801 116,980 Outgoing Resources Charitable Activities 66,741 43,920 110,661 Governance 9,593 - 9,593 Total Outgoing Resources 76,335 43,920 120,255 Net Incoming/(Outgoing) Resources (5,156) 1,881 (3,274) Transfer between funds - - - Funds Brought Forward 2,143 - 2,143 Funds Carried Forward (3,013) 1,881 (1,131) |
Total Funds 2021 £ |
|---|---|
| 43,901 | |
| 43,901 | |
| 39,556 3,684 |
|
| 43,240 | |
| 661 - 1,482 |
|
| 2,143 |
Accounts - Eternal Glorious Fountain Ministry
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ETERNAL GLORIOUS FOUNTAIN MINISTRY Charlty Nts. 1168242 Financial Report for the period to 31 December 2022 Balance Sheet as at 31 Decèmber 2022 Notè 2022 2021 ASSETS CURRENT ASSETS Debtors Cash at bank an(1 in hand Total Current Assets 4.749 4.749 3.415 3.415 4.749 4.749 CREDITORS.. Amoun18 falling du& Mthin one year 5,880 1,272 5,880 NETCURRENT ASSETS 2.143 NET ASSETS 2,143 Reserv85 ReseTves represented by.. Unre81ricled Funds Restricted Fund$ 2,143 2,143 The financial statements were approved bythe trustees on 21 Jan 2023 and signed on their behall by.. Olukayode Afolabi Signature.. The notes to these accounts form part of these financial stslemenls Accounts cofftplNod, bas0LlonYws8I}0Trs o1th8 trusf88s by.. vll1 Wal9 Assoc19$ ArtOurtl8rtts & Mana9ttm&nt Consull8nlS Llnrt 7. 16-18ParnpisfordRoad Croydon CR6 2NE Date.. 214an.23 Page 4 ACtsn- Elemal Glorious Fountain Ministy
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2022
1 ACCOUNTING POLICIES
1a Basis of accounting
The accounts have been prepared under the historical cost convention in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and comply with the with the Companies Act 2006, and on accrual basis. The principal accounting policies adopted in the preparation of the financial statements are as follows:
1b Tangible fixed assets
Fixed assets costing in excess of £2,000 are capitalised and are shown at historical cost.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its estimated useful life, by the straight line method, over the following periods:-
Leasehold improvements over 3 years Computers over 3 years Fixtures, fittings and equipment over 4 years
No fixed asset above the £2,000 was purchased in the year, therefore no depreciation charge was due.
1c Taxation
The charity is liabile to meet its statutory obligations on Corporation Taxes Act 1988.
1d Pensions
No pension contribution is payable by the charity during the year.
1e Incoming resources
All incoming resources are included in the financial statement when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy, inclusive of VAT.
1f Outgoing Resources
All resources expended are included in the financial statement on an accrual basis inclusive of VAT.
1g Cash flow statement
The charity has taken advantage of the exemption in Financial Reporting Standard No 1 from producing a cash flow statement on the grounds that it is a small charity.
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ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2022
----- Start of picture text -----
2 INVESTMENT INCOME
Total Total
2022 2021
£ £
Bank interest receivable - -
- -
3 OPERATING SURPLUS
2022 2021
£ £
Surplus is stated after charging:
Auditor's remuneration
Audit services - -
Non-audit services - accountancy 850 850
850 850
----- End of picture text -----
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ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2022
4 STAFF COSTS
| Employee costs during the year amounted to: Wages and salaries Redundancy costs Social security costs Pension costs No employee engaged during the financial |
2022 £ - - - - - year. |
2021 £ - - - - |
|---|---|---|
| - | ||
5 TANGIBLE FIXED ASSETS
| Improvements to Leasehold £ Cost At 31st Dec 2022 - Depreciation At 31st Dec 2022 - Net Book Amounts At 31st Dec 2022 - 6 DEBTORS Debtors and prepayments |
Computer Equipments £ - - - 2022 £ - - |
Fixtures & Fittings £ - - - 2021 £ - - |
Total £ - |
|---|---|---|---|
| - | |||
| - | |||
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Charity No. 1168242
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Financial Report for the period to 31 December 2022
| 7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors including taxation and social security for period Trade creditors - B/fwd from previous year Accruals and Deferred income |
2022 £ 1,311 4,569 - - 5,880 |
2021 £ 1,272 - - - |
|---|---|---|
| 1,272 |
8 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund Balances at 31st Dec 2022 are represented by Net Incoming (Outgoing) Resources for the period Accumulated Funds Brought Forward Funds Carried Forward |
Unrestricted Restricted Total Fund Fund Fund 2022 £ (3,274) - (3,274) 2,143 - 2,143 (1,131) - (1,131) |
Total 2021 £ 661 1,482 |
|---|---|---|
| 2,143 |
9 CONTINGENT/OUTSTANDING LIABILITIES
No contingent or oustanding liabilities at the end of the year
10 COMMITMENTS AND GUARANTEES
No commitment or guarantee was given in the year
Accounts - Eternal Glorious Fountain Ministry
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ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2022
Independent Examiner's Report
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2022 as set out on pages 1 to 8.
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
Responsibilities and basis of report
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with
-
section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signature: AdeOmis-Adeyela Name: A Omisakin-Adeyela Designation: FAIA, MSc Date: 21 Jan 2023 Address: Valiant Waters Associates Unit 7, 16-18 Pampisford Road Croydon CR8 2NE
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