**Registered Charity No – 1185948**
Ministerio Internacional Fuente De Vida (International Ministry Fountain of Life) Trustees’ Report and Accounts For the period 1 January 2022 to 31 December 2022
|**CONTENTS**|**PAGE**|
|---|---|
|Legal and Administrative Details|**2**|
|Trustees' Report|**3**|
|Independent Examiners’ Report|**7**|
|Statement of Financial Activities|**8**|
|Balance Sheet|**9**|
|Notes to the Accounts|**10 - 13**|
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## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31[ST ] DECEMBER 2022**
**Trustees** Julio Alfredo Sarzosa LLerena Olga Beatriz Curisaca Ortiz Fanny Elena Valle LLumigusin **Charity registered Number** 1185948 **Date of charitable registration** 23/10/2019 Flat 6 **Principal office** Q Block Peabody Estate Fulham Palace Road London W6 9QU **Independent examiners** Accusafe Ltd - C/O Good to Give Ltd **Bankers** Lloyds Bank
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## **TRUSTEES' REPORT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022**
The Board of Trustees, who are the trustees for charity law purposes, submit their annual report and the financial statements of Ministerio Internacional Fuente De Vida for the year ended 31 December 2022. The Board of Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (revised 2005)'.
## **Structure, governance and management**
The Trustees who have served during the year are set out on page 2 and meet on a regular basis.
The Trustees play a primary role in ensuring good governance and functioning of the charity. The Board’s role, functions and responsibilities are quite clearly defined. The trustees have ultimate control over all the affairs of the charity.
The Charity currently has a strong team of Advisory Board members in the UK who have helped to secure financial support and contribute to the future planning of the organisation.
## **Governing document:**
Ministerio Internacional Fuente De Vida’s Memorandum and articles of association was incorporated on 18[th ] February 2019. The organisation registered as a Charitable Organisation on 23 October 2019.
## **Recruitment and appointment of trustees:**
The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees.
Much of the charity’s work focuses upon the promotion of the Christian faith, the prevention or relief of poverty, education and training.
The Board of Trustees seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. The charity sought to identify those who would be willing to become trustees of the charity and use their own experience to assist the charity.
## **Risk Management:**
We are committed to a policy of identifying, monitoring and managing the risks that might adversely affect the activities in which we are involved. In this context, risk is defined as the potential to fail to achieve charity objectives and for loss, financial and reputational, inherent in the environment in which we operate in the nature of the transactions undertaken.
The principle risk of the charity has been its dependence on voluntary income. Trustees have initiated various processes to mitigate such risk, so that the charity has sufficient reserve in the event of adverse condition(s).
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## **TRUSTEES' REPORT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022**
The Trustees have also examined other operational and business risks which they face and confirm that they have taken steps to mitigate significant risks that may arise (where applicable).
## **Public Benefit:**
The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK.
## **Objectives and activities:**
The principal purpose of the Church is the advancement of the Christian faith in accordance with the statement of beliefs.
The Church may also provide education and training, the prevention or relief of sickness and poverty, religious activities and carry out other charitable purposes throughout London.
In reviewing the objectives and planning the activities, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and, in particular, to its supplementary public benefit guidance on advancing the objectives as set out above. The Trustees consider the current activities as detailed in this report deliver public benefit.
The main objectives for the year were:
- Pr ovide goods and meals to those experiencing hardship
- Provide education and training
- Provide services
- Provide advocacy, advice and information
- Other charitable activities
## **Grant Making Policies:**
The church provides support to members of the congregation (at the discretion of the leadership team) who are in need.
## **Achievements and performance:**
For 2023 we have a new plan which to establish a daughter church in La Paz-Bolivia to work in Qalahuma Rehabilitation Centre for young men, we are working together with a local church
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"Aposento Alto Libres en Cristo" We need to do all the necessary permits with the Bolivian Embassy in London and in Bolivia as well.
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## **TRUSTEES' REPORT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022**
## **Plans for Future Developments:**
Future priorities are being considered by the Trustees in association with the church leadership team. By this approach it is possible to move forward in a way which builds on current achievements in advancing the Christian faith. The Trustees give thanks to God for what has been achieved so far and, under God’s guiding hand, look to nurture and grow the Ministry to meet the needs and aspirations of Christians in the UK and worldwide.
We, as the Trustees of the Charity who held office at the date of approval of these financial statements as set out on page 2 each confirm, so far as we are aware, that:
- There is no relevant information of which the Charity's independent examiner are unaware; and we have
- taken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant information and to establish that the charity's independent examiner is aware of that information.
## **Independent Examiner:**
The Charity's independent examiner, Accusafe Ltd C/O Good to Give Ltd, has indicated their willingness to offer themselves for appointment.
This report was approved by the Trustees on and signed on their behalf by:
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##
##
##
##
##
##
## **Receipts and Payments Accounts For the Period from 01 January 2022 to 31 December 2022**
|**Notes**
**Income and Expenditure**
**Incoming Resources**
Incoming resources from voluntary income
2
Other income resources
**Resources Expended**
3
Cost of generating funds:
Costs of generating voluntary income
Charitable activities:
Outreach
Ministry
Governance costs
Asset Purchases
**Total Resources Expended**
**Net (Outgoing)/ Incoming Resources**
Transfers between funds
**Net Movement in Funds**
Fund balances brought forward at
01 Jan
Fund balances carried forward at
31 Dec|**Unrestricted**
**Funds**
**£**
37,763
-
37,763
12,364
300
3,384
1,500
347
17,895
19,868
-
19,868
115,491
135,359||**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-||**Total**
**2022**
**£**
37,763
-
37,763
12,364
300
3,384
1,500
347
17,895
19,868
-
19,868
115,491
135,359||**Total**
**2021**
**£**
37,961
-
37,961
10,923
830
2,740
960
-
15,453
22,508
-|
|---|---|---|---|---|---|---|---|
||||||||22,508
92,983|
||||||||115,491|
## Notes to Accounts
The accounts were prepared on income resources and resources expended basis only; therefore, no account was taken of accruals and/or prepayments.
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## **BALANCE SHEET**
## **AS AT 31[ST ] DECEMBER 2022**
|**Fixed Assets**
Tangible fixed assets
**Current Assets**
Stock and work in progress
Debtors
Cash at bank and in hand
**Creditors**: Amounts falling due
within one year
**Net Current Assets**
**Net Assets**
**Funds**
Unrestricted
Restricted||**Charity**
**2022**
**2021**
**£**
**£**
-
-
-
-
-
-
-
-
136,319
117,411
136,319
117,411
960
1,920
135,359
115,491
135,359
115,491
135,359
115,491
-
-
135,359
115,491|**Charity**
**2022**
**2021**
**£**
**£**
-
-
-
-
-
-
-
-
136,319
117,411
136,319
117,411
960
1,920
135,359
115,491
135,359
115,491
135,359
115,491
-
-
135,359
115,491|
|---|---|---|---|
||||-|
||||-
-
117,411|
||||117,411
1,920
115,491
115,491|
||||
115,491
-
115,491|
Approved and authorised for issue by the Board of Trustees on …11/09/2023………
and signed on its behalf by:
……………………………………… Trustee
The notes on pages 10 to 13 form part of these Accounts.
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**NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in December 2005 and applicable accounting standards.
## **1.2 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **1.3 Incoming resources**
All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **1.4 Resources expended**
Expenditure is accounted for in the period in which it occurs and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
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## **NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022 (Continued)**
## **Note 1 (continued)**
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the yearend are noted as a commitment, but not accrued as expenditure.
## **Incoming Resources from Voluntary 2 Income**
|Tithes
Offerings||**Unrestricted**
**Funds**
**£**
16,939
20,824
37,763|**Restricted**
**Funds**
**£**
-
-
-|**Total**
**2022**
**£**
16,939
20,824
37,763|**Total**
**2021**
**£**
11,176
26,785
37,961|
|---|---|---|---|---|---|
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## **NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022 (Continued)**
|**Total Resources Expended**
**3**
Cost of generating funds:
Admin Costs
Operation Costs
Royalty Fee
Charitable activities:
Outreach
Ministry
Governance costs
Asset Purchases
**Breakdown of Costs**
Cost of generating funds:
**Admin Costs**
Adobe program
Annual Subscription fee
Data protection policy
Office supplies
Petty cash
Zoom service
Printer Ink
ACAT annual subscription|**Staff**
**Costs**
**£**
-
-
-
-
-
-
-
-
**Staff**
**Costs**
**£**
-|**Other**
**£**
2,002
9,987
375
300
3,384
1,500
347
17,895
**Other**
**£**
497
182
35
400
533
115
240
2,002|**Total**
**2022**
**£**
2,002
9,987
375
300
3,384
1,500
347
17,895
**Total**
**2022**
**£**
497
182
35
400
533
115
240
2,002|**Total**
**2021**
**£**
1,463
9,311
150
830
2,740
960
-|
|---|---|---|---|---|
|||||15,453|
|||||**Total**
**2021**
**£**
800
350
300
13
1,463|
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## **NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022 (Continued)**
|**3**
**Total Resources Expended (continued)**
**Breakdown of Costs (continued)**
Cost of generating funds:
**Operation Costs**
Storage Rent
DBS for volunteers
Certificate of Employer's Liability Insurance
Rent for Christmas event and thanksgiving day
Rent of Saturday intercession Services
Rent of Sunday Services
Tithe to City Church Barcelona
Love Offerings to Pastors
**Royalty Fee**
Ministers Subscription Fees
Charitable activities:
**Outreach**
Evangelistic Campaign in Bolivia
Donations for Afghanistan Appeal
Missions to Bolivia
**Ministry**
Annual conference expenses
Mother’s day gifts
Christmas event for families of the Congregation
Pastors Christmas gifts
Love offering (holiday)
Petty cash (Thanksgiving)
Volunteers Christmas gifts
**Governance Costs**
**Asset Purchases**
Amazon repeaters amplifiers
Computer cables||**Staff**
**Costs**
**£**
-
-
-
-|**Other**
**£**
247
150
2,450
6,520
620
9,987
375
300
300
1,034
250
300
900
600
300
-
3,384
1,500
33
314
347|**Total**
**2022**
**£**
-
-
247
150
2,450
6,520
620
-
9,987
375
-
-
300
300
1,034
250
300
900
600
300
-
3,384
1,500
33
314
347|**Total**
**2021**
**£**
139
239
24
150
4,546
2,183
2,030
9,311
150
300
530
830
1,200
1,000
540
2,740
960
-
-
-|
|---|---|---|---|---|---|
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