ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity Registration Number 1168242
Financial Report for the period to 31 December 2025
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 2025
| 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 2025
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 2025
Trustees Report
Eternal Glorious Fountain Ministry registered as a Charity Incorporated Organisation on the 15 July 2016.
The main objectives of the charity are to:
advance the christian faith for the benefit of the public through the holdings of meetings, lectures, producing
and distributing christian literature to enlighten others about christianity and through broadcasting evangelistic and teaching messages; establish and run churches.
We continued to advance our objectives in the course of the year, and will continue to achieve more of those objectives in the future.
The achievement of our objectives depend greatly on the contributions of our diligent volunteers for which we are ever so grateful.
The following served as the trustees during the year under report: Elizabeth Maina Olukayode Afolabi Rev Kayode Oyegoke Dr Kaidian Baird
Signed on behalf of the Trustees:
Name: Olukayode Afolabi Signature: OWE: Date: 15-Jan-26
Accounts - Eternal Glorious Fountain Ministry
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Charity No. 1168242
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Financial Report for the period to 31 December 2025
Income and Expenditure Account
| Income Expenditure Cost of Sales Honorarium Gross Surplus Administrative Expenses Travel & Subsistence Telephone/Broadband Expensed Equipment Administrative Costs Pastoral Care Retreat & Convention Rent & Hire Staff Salaries Employer's NI Professional Fees Total Administrative Expenses - Net Surplus Before Tax Corporation Tax Payable Net Surplus After Tax Funds Brought Forward Funds Carried Forward |
2025 £ £206,527 27,284 27,284 179,243 3,171 935 1,987 1,750 12,133 107,951 22,079 24,000 2,651 1,570 178,229 1,013 - 1,013 2,759 3,772 |
2024 £ |
|---|---|---|
| 153,146 | ||
| 1,233 | ||
| 1,233 | ||
| 151,913 | ||
| 3,633 780 2,532 1,856 9,796 70,018 24,314 24,000 2,057 1,570 |
||
| 140,558 | ||
| 11,354 | ||
| - | ||
| 11,354 (8,595) |
||
| 2,759 |
Accounts - Eternal Glorious Fountain Ministry
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ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2025
| Statement of Financial Activities Unrestricted Restricted Total Funds Funds Funds 2025 £ £ £ Incoming Resources Donations 118,011 88,515 206,526 Total Incoming Resources 118,011 88,515 206,526 Outgoing Resources Charitable Activities 78,766 107,952 186,718 Governance 18,794 - 18,794 Total Outgoing Resources 97,561 107,952 205,513 Net Incoming/(Outgoing) Resources 20,450 (19,437) 1,013 Transfer between funds (15,708) 15,708 - Funds Brought Forward (970) 3,729 2,759 Funds Carried Forward 3,772 - 3,772 |
Total Funds 2024 £ |
|---|---|
| 153,145 | |
| 153,145 | |
| 125,103 16,687 |
|
| 141,791 | |
| 11,354 - (8,595) |
|
| 2,759 |
Accounts - Eternal Glorious Fountain Ministry
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ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2025
| Balance Sheet as at 31 December 2025 | Note | 2025 | 2024 | |
|---|---|---|---|---|
| £ | £ | £ | ||
| ASSETS | ||||
| CURRENT ASSETS | ||||
| Debtors | 6 | - | - | |
| Cash at bank and in hand | 14,618 | 9,670 | ||
| Total Current Assets | 14,618 | 9,670 | ||
| CREDITORS: Amounts falling due within | ||||
| one year | 7 | 10,846 | 6,911 | |
| NET CURRENT ASSETS | 3,772 | 2,759 | ||
| NET ASSETS | 3,772 | 2,759 | ||
| Reserves | ||||
| Reserves represented by: | ||||
| Unrestricted Funds | 8 | 3,772 | (970) | |
| Restricted Funds | - | 3,729 | ||
| 3,772 | 2,759 |
The financial statements were approved by the trustees on 15 Jan 2026 and signed on their behalf by:
Olukayode Afolabi
Signature:
The notes to these accounts form part of these financial statements
Accounts compiled, based on representations of the trustees by:
Valiant Waters Associates Accountants & Management Consultants Unit 7, 16-18 Pampisford Road Croydon CR8 2NE
Date: 15-Jan-26
Accounts - Eternal Glorious Fountain Ministry
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ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2025
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 2025
----- Start of picture text -----
2 INVESTMENT INCOME
Total Total
2025 2024
£ £
Bank interest receivable - -
- -
3 OPERATING SURPLUS
2025 2024
£ £
Surplus is stated after charging:
Auditor's remuneration
Audit services - -
Non-audit services - accountancy 1,570 1,570
1,570 1,570
----- End of picture text -----
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ETERNAL GLORIOUS FOUNTAIN MINISTRY
Charity No. 1168242
Financial Report for the period to 31 December 2025
4 STAFF COSTS
| Employee costs during the year amounted to: Wages and salaries Redundancy costs Social security costs Pension costs |
2025 £ - - - - - |
2024 £ - - - - |
|---|---|---|
| - |
No employee engaged during the financial year.
5 TANGIBLE FIXED ASSETS
| Improvements to Leasehold £ Cost At 31st Dec 2025 - Depreciation At 31st Dec 2025 - Net Book Amounts At 31st Dec 2025 - DEBTORS Debtors and prepayments |
Computer Equipments £ - - - 2025 £ - - |
Fixtures & Fittings £ - - - 2024 £ - - |
Total £ - |
|---|---|---|---|
| - | |||
| - | |||
6 DEBTORS
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Charity No. 1168242
ETERNAL GLORIOUS FOUNTAIN MINISTRY
Financial Report for the period to 31 December 2025
| 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 |
2025 £ 1,570 9,276 - - 10,846 |
2024 £ 1,570 5,341 - - |
|---|---|---|
| 6,911 |
8 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund Balances at 31st Dec are represented by Net Incoming (Outgoing) Resources for the period Accumulated Funds Brought Forward Funds Carried Forward |
Unrestricted Restricted Total Fund Fund Fund 2025 £ 4,742 3,729 - 1,013 (970) 3,729 2,759 3,772 - 3,772 |
Total 2024 £ 11,354 (8,595) |
|---|---|---|
| 2,759 |
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 2025
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 31/12/2025 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: 15 Jan 2026 Address: Valiant Waters Associates Unit 7, 16-18 Pampisford Road Croydon CR8 2NE
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