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) 1 of 7 ## 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**| |---|---|---|---| ||||| ||||| 2 of 7 ## 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 3 of 7 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** 4 of 7 ||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** 5 of 7 |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**| 6 of 7 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)**| |---|---|---| This page does not form part of the statutory financial statements 7 of 7