## **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
Page 3-A
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, bas0LlonYws*8I}0Trs o1th8 trusf88s by..
v*ll1 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.
Accounts - Eternal Glorious Fountain Ministry
Page 5
**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 -----**
Accounts - Eternal Glorious Fountain Ministry
Page 6
**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
£
-|
|---|---|---|---|
||||-|
||||-|
|||||
Accounts - Eternal Glorious Fountain Ministry
Page 7
**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
Page 8
**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
Accounts - Eternal Glorious Fountain Ministry
Page 9