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COMPANY REGISTRATION NUMBER: 09939233 CHARITY REGISTRATION NUMBER: 1173592

SPRING OF LIFE MINISTRY Company Limited by Guarantee Unaudited Financial Statements

31 January 2024

JAVY AND CO LTD

Chartered Certified Accountants 127 Sewell Road London SE2 9DH

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Financial Statements

Year ended 31 January 2024

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	4
Statement of financial activities (including income and
expenditure account)	5
Statement of financial position	6
Statement of cash flows	8
Notes to the financial statements	9
The following pages do not form part of the financial statements
Detailed statement of financial activities	18
Notes to the detailed statement of financial activities	19

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 January 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 January 2024.

Reference and administrative details

Registered charity name SPRING OF LIFE MINISTRY Charity registration number 1173592 Company registration number 09939233 Principal office and registered 14 Benson Close office Hounslow TW3 3RA United Kingdom

The trustees Rev Mark Kumah Boateng Mrs Cheryl Emma A Boateng Mr Isaac Appiah-Kubi Mr Johnson Akpebu Independent examiner Mr Johnson Akpebu - FCCA, MBA(Fin) 127 Sewell Road London SE2 9DH

Structure, governance and management

The Charity was incorporated as a company limited by guarantee on 06 January and is governed by an Articles and Memorandum of Association. Appointment of trustees was initially by recommendation of the elders of the church and then approved by the church members. Activities organised in furtherance of the objects include regular Sunday church services, religious conventions, seminars, and the training workshops.

Objectives and activities

The main objects of the charity are the advancement of the Christian faith, relief of sickness, poverty, and the advancement of education in accordance with Christian principles.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

- 1 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Achievements and performance

During the financial year, the church continued to adopt and incorporate the use of Cloud HD Video (Zoom) as part of the following:

1.Church Services
2.Prayer and worships
3.Communion
4.Interactive Bible Studies involving all the catchment areas.
5.The church is now live on www.facebook.com
6.Program were organised such as
Omega TV UK - God of Possibilities
Our Role in Kingdom Investments
Choosing God's way
The Church has created a Building Fund accounts (restricted accounts towards the goal of acquiring our own building in the future).

Financial review

The total incoming resources decreased to £41,788 in 2024 as compared to £79,907 in 2023. The total resources expended increased to £53,248 in 2024 as compared to £50,516 in 2023. The overall effect resulted in a net deficit of £11,460 in 2024 as compared to surplus £29,391 in 2023.

- 2 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Plans for future periods

Our plans for the coming year are great. We intend to do the following:

To increase membership and church attendance
To develop a strong inter-denominational church embracing all faith and people from any country – multicultural church
To practically increase our presence in the local community by involving them in our programs and activities
To Continuously develop a vibrant and Godly Youth ministry
To equip Believers to be more rooted and grounded in the Word of God
To reach out and to disciple the unsaved for Christ
To start saving towards acquiring Church Building
To start saving towards acquiring Church Van

Reserves Policy

The trustees recognise the need to maintain reserves. Unrestricted funds are needed to cover the day-to-day administration and support costs of the charity and also to have funds available for specified projects in the future should the need arise. The current reserve for 2024 is £18,147 as compared to £32,907 in 2023.

Risk Management

The major risks to which the charity is exposed have been identified as the safeguarding the assets of charity and ensuring funds are applied for charitable purposes. Systems and strategies have been put in place to mitigate these risks. Income and expenditure is monitored through the setting of budgets which are compared with actual figures.

The trustees' annual report and the strategic report were approved on 14 October 2024 and signed on behalf of the board of trustees by:

Rev Mark Kumah Boateng Trustee

- 3 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of SPRING OF LIFE MINISTRY

Year ended 31 January 2024

I report to the trustees on my examination of the financial statements of SPRING OF LIFE MINISTRY ('the charity') for the year ended 31 January 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Johnson Akpebu - FCCA, MBA(Fin) Independent Examiner

127 Sewell Road London SE2 9DH

- 4 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 January 2024

			2024		2023
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	38,449	3,300	41,749	79,904
Investment income	6	39	–	39	3
		`────────`	`───────`	`────────`	`────────`
Total income		38,488	3,300	41,788	79,907
		`════════`	`═══════`	`════════`	`════════`
Expenditure
Expenditure on charitable activities	7,8	53,248	–	53,248	50,516
		`────────`	`───────`	`────────`	`────────`
Total expenditure		53,248	–	53,248	50,516
		`════════`	`═══════`	`════════`	`════════`
		`────────`	`───────`	`────────`	`────────`
Net (expenditure)/income and net
movement in funds		(14,760)	3,300	(11,460)	29,391
		`════════`	`═══════`	`════════`	`════════`
Reconciliation of funds
Total funds brought forward		32,907	20,000	52,907	23,516
		`────────`	`────────`	`────────`	`────────`
Total funds carried forward		18,147	23,300	41,447	52,907
		`════════`	`════════`	`════════`	`════════`

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 16 form part of these financial statements.

- 5 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Financial Position

31 January 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible fixed assets	13	3,738	3,594
Current assets
Debtors	14	60,898	70,323
Cash at bank and in hand		13,124	20,810
		`────────`	`────────`
		74,022	91,133
Creditors: amounts falling due within one year	15	1,200	1,000
		`────────`	`────────`
Net current assets		72,822	90,133
		`────────`	`────────`
Total assets less current liabilities		76,560	93,727
Creditors: amounts falling due after more than one year	16	35,113	40,820
		`────────`	`────────`
Net assets		41,447	52,907
		`════════`	`════════`
Funds of the charity
Restricted funds		23,300	20,000
Unrestricted funds		18,147	32,907
		`────────`	`────────`
Total charity funds	17	41,447 `════════`	52,907 `════════`

For the year ending 31 January 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The statement of financial position continues on the following page.

The notes on pages 9 to 16 form part of these financial statements.

- 6 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Financial Position (continued)

31 January 2024

These financial statements were approved by the board of trustees and authorised for issue on 14 October 2024, and are signed on behalf of the board by:

Rev Mark Kumah Boateng Trustee

The notes on pages 9 to 16 form part of these financial statements.

- 7 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 January 2024

	2024	2023
	£	£
Cash flows from operating activities
Net (expenditure)/income	(11,460)	29,391
Adjustments for:
Depreciation of tangible fixed assets	1,246	1,198
Other interest receivable and similar income	(39)	(3)
Interest payable and similar charges	105	–
Accrued expenses/(income)	200	(200)
Changes in:
Trade and other debtors	9,425	(13,933)
	`────────`	`────────`
Cash generated from operations	(523)	16,453
Interest paid	(105)	–
Interest received	39	3
	`────`	`────────`
Net cash (used in)/from operating activities	(589)	16,456
	`════`	`════════`
Cash flows from investing activities
Purchase of tangible assets	(1,390)	(1,121)
	`───────`	`────────`
Net cash used in investing activities	(1,390)	(1,121)
	`═══════`	`════════`
Cash flows from financing activities
Proceeds from borrowings	(5,707)	(6,220)
	`───────`	`────────`
Net cash used in financing activities	(5,707)	(6,220)
	`═══════`	`════════`
Net (decrease)/increase in cash and cash equivalents	(7,686)	9,115
Cash and cash equivalents at beginning of year	20,810	11,695
	`────────`	`────────`
Cash and cash equivalents at end of year	13,124	20,810
	`════════`	`════════`

The notes on pages 9 to 16 form part of these financial statements.

- 8 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 January 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 14 Benson Close, Hounslow, TW3 3RA, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

- 9 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

- 10 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - 25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

- 11 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

3. Accounting policies (continued)

Financial instruments (continued)

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The Charity is limited by guarantee.

5. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Donations
Donations and Tithes	29,932	–	29,932
HMRC Gift Aid	8,517	–	8,517
Building Funds	–	3,300	3,300
	`────────`	`───────`	`────────`
	38,449	3,300	41,749
	`════════`	`═══════`	`════════`

- 12 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

5. Donations and legacies (continued)

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Donations and Tithes	37,730	–	37,730
HMRC Gift Aid	22,174	–	22,174
Building Funds	–	20,000	20,000
	`────────`	`────────`	`────────`
	59,904	20,000	79,904
	`════════`	`════════`	`════════`

6.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2024	Funds	2023
		£	£	£	£
	Bank interest receivable	39	39	3	3
		`════`	`════`	`════`	`════`
7.	Expenditure on charitable activities by fund type
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2024	Funds	2023
		£	£	£	£
	Charitable Activities	44,188	44,188	36,288	36,288
	Evangelism & Programs	6,009	6,009	10,591	10,591
	Support costs	3,051	3,051	3,637	3,637
		`────────`	`────────`	`────────`	`────────`
		53,248	53,248	50,516	50,516
		`════════`	`════════`	`════════`	`════════`

8. Expenditure on charitable activities by activity type

		Activities
		undertaken		Total funds	Total fund
		directly Support	costs	2024	2023
		£	£	£	£
	Charitable Activities	44,188	–	44,188	36,288
	Evangelism & Programs	6,009	–	6,009	10,591
	Governance costs	–	3,051	3,051	3,637
		`────────`	`───────`	`────────`	`────────`
		50,197	3,051	53,248	50,516
		`════════`	`═══════`	`════════`	`════════`
9.	Net (expenditure)/income
	Net (expenditure)/income is stated after	charging/(crediting):
				2024	2023
				£	£
	Depreciation of tangible fixed assets			1,246	1,198
				`═══════`	`═══════`

- 13 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

10. Independent examination fees

	2024	2023
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	1,200 `═══════`	1,200 `═══════`

11. Staff costs

The average head count of employees during the year was 4 (2023: 4). The average number of full-time equivalent employees during the year is analysed as follows:

	2024	2023
	No.	No.
Number of staff	4	4
	`════`	`════`

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees

13. Tangible fixed assets

		Equipment
		£
Cost
At 1 February 2023		8,546
Additions		1,390
		`───────`
At 31 January 2024		9,936
		`═══════`
Depreciation
At 1 February 2023		4,952
Charge for the year		1,246
		`───────`
At 31 January 2024		6,198
		`═══════`
Carrying amount
At 31 January 2024		3,738
		`═══════`
At 31 January 2023		3,594
		`═══════`
Debtors
	2024	2023
	£	£
Other debtors	60,898	70,323
	`════════`	`════════`

14. Debtors

- 14 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

15. Creditors: amounts falling due within one year

		2024	2023
		£	£
	Accruals and deferred income	1,200	1,000
		`═══════`	`═══════`
16.	Creditors: amounts falling due after more than one year
		2024	2023
		£	£
	Bank loans and overdrafts	35,113	40,820
		`════════`	`════════`

17. Analysis of charitable funds Unrestricted funds

Unrestricted funds
		At			At
	1 February	20			31 January 2
		23	Income	Expenditure	024
	£		£	£	£
General funds	32,907		38,488	(53,248)	18,147
	`════════`		`════════`	`════════`	`════════`
		At			At
	1 February	20		31 January 20
		22	Income	Expenditure	23
	£		£	£	£
General funds	23,516		59,907	(50,516)	32,907
	`════════`		`════════`	`════════`	`════════`
Restricted funds
		At			At
	1 February	20			31 January 2
		23	Income	Expenditure	024
	£		£	£	£
Restricted Fund	20,000		3,300	–	23,300
	`════════`		`═══════`	`════`	`════════`
		At			At
	1 February	20		31 January 20
		22	Income	Expenditure	23
	£		£	£	£
Restricted Fund		–	20,000	–	20,000
	`════`		`════════`	`════`	`════════`

- 15 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

18. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2024
	£	£
Tangible fixed assets	3,738	3,738
Current assets	74,022	74,022
Creditors less than 1 year	(1,200)	(1,200)
Creditors greater than 1 year	(35,113)	(35,113)
	`────────`	`────────`
Net assets	41,447	41,447
	`════════`	`════════`
	Unrestricted	Total Funds
	Funds	2023
	£	£
Tangible fixed assets	3,594	3,594
Current assets	91,133	91,133
Creditors less than 1 year	(1,000)	(1,000)
Creditors greater than 1 year	(40,820)	(40,820)
	`────────`	`────────`
Net assets	52,907	52,907
	`════════`	`════════`

19. Analysis of changes in net debt

			At
	At 1 Feb 2023 Cash flows		31 Jan 2024
	£	£	£
Cash at bank and in hand	20,810	(7,686)	13,124
Debt due after one year	(40,820)	5,707	(35,113)
	`────────`	`───────`	`────────`
	(20,010)	(1,979)	(21,989)
	`════════`	`═══════`	`════════`

- 16 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Management Information

Year ended 31 January 2024

The following pages do not form part of the financial statements.

- 17 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Detailed Statement of Financial Activities

Year ended 31 January 2024

	2024	2023
	£	£
Income and endowments
Donations and legacies
Donations and Tithes	29,932	37,730
HMRC Gift Aid	8,517	22,174
Building Funds	3,300	20,000
	`────────`	`────────`
	41,749	79,904
	`────────`	`────────`
Investment income
Bank interest receivable	39	3
	`────`	`────`
	`────────`	`────────`
Total income	41,788	79,907
	`════════`	`════════`
Expenditure
Expenditure on charitable activities
Rent	9,328	9,086
Repairs and maintenance	1,655	251
Insurance	160	170
Other motor/travel costs	3,858	4,472
Legal and professional fees	1,200	1,200
Telephone	193	251
Other office costs	1,150	1,989
Depreciation	1,246	1,198
Other interest payable and similar charges	105	–
Advertising and Publicity	2,380	3,352
Honorarium	4,460	9,919
Hospitality	11,513	10,708
Donations	16,000	7,920
	`────────`	`────────`
	53,248	50,516
	`────────`	`────────`
	`────────`	`────────`
Total expenditure	53,248	50,516
	`════════`	`════════`
	`────────`	`────────`
Net (expenditure)/income	(11,460)	29,391
	`════════`	`════════`

- 18 -

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

Year ended 31 January 2024

	2024	2023
	£	£
Expenditure on charitable activities
Charitable Activities
*Activities undertaken directly*
Direct charitable activity - rent	9,328	9,086
Direct charitable activity - repairs & maintenance	1,655	251
Direct charitable activity - insurance	160	170
Direct charitable activity - other motor/travel costs	3,858	4,472
Direct charitable activity - Website and Telephone	193	251
Direct charitable activity - Musicians	650	750
Direct charitable activity - Advertising and Publicity	1,500	2,250
Direct charitable activity - Honorarium	4,200	4,550
Direct charitable activity - Hospitality	6,644	6,588
Direct charitable activity - Donation and Welfare	16,000	7,920
	`────────`	`────────`
	44,188	36,288
	`────────`	`────────`
Evangelism & Programs
*Activities undertaken directly*
Direct charitable activity - Printing Postage and Stationery	880	1,102
Direct charitable activity - Evangelism and Program	260	5,369
Direct charitable activity - Pastoral allowance	4,869	4,120
	`───────`	`────────`
	6,009	10,591
	`───────`	`────────`
Governance costs
Governance costs - accountancy fees	1,200	1,200
Governance costs - Gift Aid Administration	500	1,239
Governance costs - depreciation	1,246	1,198
Governance costs - other finance costs	105	–
	`───────`	`───────`
	3,051	3,637
	`───────`	`───────`
	`────────`	`────────`
Expenditure on charitable activities	53,248	50,516
	`════════`	`════════`

- 19 -

2024-01-31-accounts

SPRING OF LIFE MINISTRY Company Limited by Guarantee Unaudited Financial Statements

31 January 2024

JAVY AND CO LTD

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Financial Statements

Year ended 31 January 2024

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Reference and administrative details

Structure, governance and management

Objectives and activities

Strategic report

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Achievements and performance

Financial review

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2024

Plans for future periods

Reserves Policy

Risk Management

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of SPRING OF LIFE MINISTRY

Year ended 31 January 2024

Responsibilities and basis of report

Independent examiner's statement

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 January 2024

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Financial Position

31 January 2024

The statement of financial position continues on the following page.

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Financial Position (continued)

31 January 2024

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 January 2024

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements

1. General information

2. Statement of compliance

3. Accounting policies

Basis of preparation

Going concern

Fund accounting

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

3. Accounting policies (continued)

Incoming resources

Resources expended

Tangible assets

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

3. Accounting policies (continued)

Tangible assets (continued)

Depreciation

Impairment of fixed assets

Financial instruments

SPRING OF LIFE MINISTRY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2024

3. Accounting policies (continued)

Financial instruments (continued)