Charity number: 1169256
Fountain of Praise Charismatic
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 January 2024
Fountain of Praise Charismatic Contents Page For the year ended 31 January 2024
| Report of the Trustees | 1 |
|---|---|
| Statement of Financial Activities | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 4 to 6 |
| Detailed Statement of Financial Activities | 7 |
Fountain of Praise Charismatic Report of the Trustees For the year ended 31 January 2024
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 January 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives
and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Fountain of Praise Charismatic
Charity registration number 1169256
Principal address 29 Newdales Close London N9 7AF
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Alex Elisha Boachie Mr Robert Poku Mr Patrick David Hammond Ms Agatha Amanquanor
Approved by the Board of Trustees and signed on its behalf by
EAB
08 January 2025
Mr Alex Elisha Boachie (Director)
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Fountain of Praise Charismatic
Statement of Financial Activities For the year ended 31 January 2024
| Notes Income and endowments from: Donations and legacies 2 Total Expenditure on: Raising funds 3 Charitable activities 4/5 Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ (8,000) (5,620) 80 (13,620) 13,700 13,700 12,990 13,070 |
2023 £ (1,920) (9,540) (11,460) (760) 10,700 10,700 12,999 12,239 |
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|---|---|---|---|
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Fountain of Praise Charismatic Statement of Financial Position As at 31 January 2024
| Notes Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds 9 Total funds |
2024 £ 13,070 13,070 13,070 13,070 13,070 13,070 13,070 |
2023 £ 12,239 12,239 12,239 12,239 12,239 12,239 12,239 |
|---|---|---|
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
EAB
Mr Alex Elisha Boachie Trustee 08 January 2025
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Fountain of Praise Charismatic Notes to the Financial Statements
For the year ended 31 January 2024
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Fountain of Praise Charismatic meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
2. Income from donations and legacies
| Unrestricted funds Donations received |
2024 2023 £ £ 13,700 10,700 10,700 13,700 |
|---|---|
3. Expenditure on generating donations and legacies
| Unrestricted funds Donations Support costs osts of charitable activities by fund type Unrestricted funds Church activities Support costs Notes to the Financial Statements Continued For the year ended 31 January 2024 |
2024 £ 8,000 - 2024 £ 1,920 3,700 8,000 5,620 |
2023 £ - 1,920 2023 £ 4,450 5,090 1,920 9,540 |
|---|---|---|
4. Costs of charitable activities by fund type
5. Costs of charitable activities by activity type
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| Fountain of Praise Charismatic | |||||
|---|---|---|---|---|---|
| Activities Support | 2024 2023 | undertaken costs directly | |||
| £ | £ | £ | £ | ||
| Support costs | |||||
| Church activities | 1,920 | 3,700 | 5,620 | 9,540 | |
| 6. Analysis of support costs | |||||
| 2024 | 2023 |
||||
| £ | £ | ||||
| Church activities | |||||
| Management | - | 1,920 | |||
| Pastorial & Missionary | 3,200 | 4,590 | |||
| Work | |||||
| Governance costs | 500 | 500 | |||
| 3,700 | 7,010 | ||||
| 7. Particulars of employees | |||||
| 2024 | 2023 | ||||
| Volunteers | 0 | 0 | |||
| 0 | 0 |
8. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
| 9. Movement in funds | |||||
|---|---|---|---|---|---|
| Unrestricted Funds | |||||
| Balance at | Incoming | Outgoing | Balance at | ||
| 01/02/2023 | resources | resources | 31/01/2024 | ||
| £ | £ | £ | £ | ||
| General | |||||
| General | 12,990 | 13,700 | (13,620) | 13,070 | |
| Notes to the Financial Statements Continued | |||||
| For the year ended 31 January 2024 |
12,990 13,700 (13,620)
13,070
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| Fountain of Praise Charismatic Unrestricted Funds - Previous year Balance at 01/02/2022 Incoming resources General £ £ General 12,999 10,700 12,999 10,700 |
Outgoing resources £ (11,460) (11,460) |
Balance at 31/01/2023 £ 12,239 12,239 |
|---|---|---|
Purpose of unrestricted Funds
General
To advance the Christian faith in accordance with the statement of beliefs in such ways as the trustees from time to time may think fit.
| 10. Analysis of net assets between funds Unrestricted funds General General Previous year Unrestricted funds General General |
Net current Net Assets assets / (liabilities) £ £ 13,070 13,070 |
|---|---|
| 13,070 13,070 |
|
| Net current assets / (liabilities) Net Assets £ £ 12,239 12,239 |
|
| 12,239 12,239 |
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Fountain of Praise Charismatic
Detailed Statement of Financial Activities For the year ended 31 January 2024
| INCOME AND ENDOWMENT Donations and legacies Donations Total incoming resources EXPENDITURE Raising donations and legacies Donations Charitable activities Cost of direct charitable activity SUPPORT COSTS Management Management Pastorial & Missionary Work Pastorial & Missionary Work Governance costs Governance costs Total resources expended Net Income |
2024 £ 13,700 13,700 (8,000) (8,000) (1,920) (1,920) - - (3,200) (3,200) 13,700 (500) (500) (13,620) 80 |
2023 £ 10,700 10,700 - - (4,450) (4,450) (1,920) (1,920) (4,590) (4,590) 10,700 (500) (500) (11,460) (760) |
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This page does not form part of the statutory financial statements
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