## **Ministerio Internacional Fuente De Vida**
**Charity No. 1185948**
**Trustees' Report and Unaudited Accounts**
**31 December 2023**
**Ministerio Internacional Fuente De Vida Contents**
||Pages||
|---|---|---|
|Trustees' Annual Report|2 to 4||
|Independent Examiner's Report||5|
|Statement of Financial Activities||6|
|Summary Income and Expenditure Account||7|
|Balance Sheet||8|
|Notes to the Accounts|9 to|12|
Page 1
**Ministerio Internacional Fuente De Vida Trustees Annual Report**
The trustees, present their report with the unaudited financial statements of the charity for the year ended 31 December 2023.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 1185948**
## **Registered Office**
Flat 6 Q Block Peabody Estate Fulham Palace Road W6 9QU
## **Trustees**
The following Trustees served during the year
Fanny Elena Valle LLumigusin Julio Alfredo Sarzosa LLerena Olga Beatriz Curisaca Ortiz
## **Accountants**
360 Accounting Services Ltd 27 Old Gloucester Street London WC1N 3AX
## **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 :**
Provide goods and meals to those experiencing hardship Provide education and training
Provide services Provide advocacy, advice and information
Page 2
**Ministerio Internacional Fuente De Vida Trustees Annual Report**
## **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 "Aposento Alto Libres en Cristo" We need to do all the necessary permits with the Bolivian Embassy in London and in Bolivia as well.
## **PLANS FOR FUTURE PERIODS**
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.
## **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 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 18th February 2019. The organisation registered as a Charitable Organisation on 23 October 2019. 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).
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
## **Grant Making Policies:**
The church provides support to members of the congregation (at the discretion of the leadership team) who are in need.
The Trustees are responsible for preparing the Trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Page 3
Mlni5teTio Internacional Fuente De WKla
Company law requires the trusttr5 to prepa financial statements for whith give a true and fair view of the
state of affairs of the charitsble company and of the incoming re50urce5 and applicatK)n of urceS,
arid ¥AW¢IIUlLLtt. iii¢ uiai ifjnpaily fots 3r wtod. In weparing ese
finan¢ial statements. the trustees are required to:
selert suitable ac¢ounting policies and then aPY them consi#enty-.
observe the methods and principles in the tharities SORP:
make jUements and estimates that are rea9)naDle and Fffuthnt:
state whether aFplicable UK accounting standards have been followed.
subjert to any rjsaterial &parturesd5rknsed andexplained in the fla1
statew*nts;
prepare Ine financial SlaTements on rne goin
concern basis unless ir is
fi ¢onts"nue in busines5.
Inappropriate to presume that the charity Wt
The Trustees are responsible for keeping properaccountirwd records that disdose with reasonable accuracy at
any time the financial pnsition nf the charity and tn enable thprn tn enwre that the finanr_ial stAternents
comply with the Companies Act 26. The Twstees are a19) resFonsible for safeguarcfing the assets of the
charity and hen taking reasonable steps for the prevention and detectKin of fraud and other irregularities.
Snd on hehalf nf thp. bnard
Olga Beatrizcurisaca Ortiz
25 September 2024
**Ministerio Internacional Fuente De Vida**
**Independent Examiners Report**
## **Independent Examiner's Report to the trustees of Ministerio Internacional Fuente De Vida**
I report to the charity trustees on my examination of the financial statements of Ministerio Internacional Fuente De Vida for the year ended 31 December 2023.
## **Responsibilities and basis of report**
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.
Having satisfied myself that the financial statements of the Charity 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 your charity's financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
- accounting records were not kept in accordance with 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 under section 396 of the 2006 Act other than any requirement that the financial statements 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 financial statements to be reached.
Dawnette Allen BA (Hons) FCCA 360 Accounting Services Ltd 27 Old Gloucester Street London WC1N 3AX 25 September 2024
Page 5
**Ministerio Internacional Fuente De Vida**
**Statement of Financial Activities**
## **for the year ended 31 December 2023**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
2
Charitable activities
3
**Total**
**Expenditure on:**
Raising funds
4
Charitable activities
5
Other expenditure
6
**Total**
Net gains on investments
**Net income**
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
45,777
2,961|**Total funds**
**2023**
**£**
45,777
2,961|**Total funds**
**2022**
**£**
37,763
-|
|---|---|---|---|
||48,738
5,207
5,399
20,002|48,738
5,207
5,399
20,002|37,763
4,059
1,500
12,336|
||30,608
-|30,608
-|17,895
-|
||18,130
-|18,130
-|19,868
-|
||18,130|18,130|19,868|
||18,130
135,359|18,130
135,359|19,868
135,359|
||153,489|153,489|155,227|
Page 6
**Ministerio Internacional Fuente De Vida Summary Income and Expenditure Account**
## **for the year ended 31 December 2023**
|Income
**Gross income for the year**
Expenditure
**Total expenditure for the year**
Net income before tax for the year
**Net income for the year**|**2023**
**£**
48,738
48,738
30,608
30,608
18,130
18,130|**2022**
**£**
37,763|
|---|---|---|
|||37,763|
|||17,895|
|||17,895|
|||19,868|
|||19,868|
Page 7
Mlnlsterlo Internadon•l Fuente Dt
Balance sIt
at 31 Defember 2023
Company N
2022
Cash at bank and in hand
155,089
155.089
(1,6001
153.489
136,319
136,319
19601
135.359
CredltOT&" Amount falling due within one year
Net current assets
Total assets less current Ilabilltles
153.489
135.359
Net assets ewdudlng penslon asset or labNIty
Total net assets
153.489
135,359
153,489
135,359
The funds of the tha
Restricted ndS
Unrestrfcted funds
General funds
153,489
135,359
153.489
135,359
Totsl fvnd%
153.489
135,359
Approved by the t*)ard on 25" September 2024
And Signed on its behalf *.
eatriz Curisac4 Cktiz
Trustee
25 Septemk¢r 2024
Page 8
**Ministerio Internacional Fuente De Vida Notes to the Accounts**
## **for the year ended 31 December 2023**
- 1 **Accounting policies**
## **Fund accounting**
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
**Ministerio Internacional Fuente De Vida Notes to the Accounts**
## **Expenditure**
|**Expenditure**||
|---|---|
|Recognition of|Expenditure is recognised on an accruals basis. Expenditure includes any VAT which|
|expenditure|cannot be fully recovered, and is reported as part of the expenditure to which it|
||relates.|
|Expenditure on|These comprise the costs associated with attracting voluntary income, fundraising|
|raising funds|trading costs and investment management costs.|
|Expenditure on|These comprise the costs incurred by the Charity in the delivery of its activities and|
|charitable activities|services in the furtherance of its objects, including the making of grants and|
||governance costs.|
|Grants payable|All grant expenditure is accounted for on an actual paid basis plus an accrual for|
||grants that have been approved by the trustees at the end of the year but not yet|
||paid.|
|Governance costs|These include those costs associated with meeting the constitutional and statutory|
||requirements of the Charity, including any audit/independent examination fees,|
||costs linked to the strategic management of the Charity, together with a share of|
||other administration costs.|
|Other expenditure|These are support costs not allocated to a particular activity.|
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
## 2 **Income from donations and legacies**
|**Income from donations and legacies**||||
|---|---|---|---|
|Donations and legacies|**Unrestricted**
**£**
45,777
45,777|**Total**
**2023**
**£**
45,777
45,777|**Total**
**2022**
**£**
37,763|
||||37,763|
Page 10
**Ministerio Internacional Fuente De Vida**
## **Notes to the Accounts**
## 3 **Income from charitable activities**
|Gift aid
4
**Expenditure on raising funds**
_Costs of generating voluntary_
_income_
Outreach
Ministry
_Fundraising trading costs_
Royalty Fee
5
**Expenditure on charitable activities**
_Governance costs_
Governance costs
6
**Other expenditure**
Asset purchases
Motor and travel costs
Rent
General administrative costs
7 **Staff costs**
No employee received emoluments in excess of £60,000.
8 **Creditors:**
amounts falling due within one year
Other creditors|**Unrestricted**
**£**
2,961
2,961
**Unrestricted**
**£**
-
5,207
-
5,207
**Unrestricted**
**£**
2,311
5,399
**Unrestricted**
**£**
-
2,570
10,983
6,449
20,002
**2023**
**£**
1,600
1,600|**Total**
**2023**
**£**
2,961
2,961
**Total**
**2023**
**£**
-
5,207
-
5,207
**Total**
**2023**
**£**
2,311
5,399
**Total**
**2023**
**£**
-
2,570
10,983
6,449
20,002|**Total**
**2022**
**£**
-|
|---|---|---|---|
||||-|
||||**Total**
**2022**
**£**
300
3,384
375|
||||4,059|
||||**Total**
**2022**
**£**
1,500|
||||1,500|
||||**Total**
**2022**
**£**
347
-
9,740
2,249|
||||12,336|
||||**2022**
**£**
960|
||||960|
Page 11
**Ministerio Internacional Fuente De Vida**
**Notes to the Accounts**
## 9 **Movement in funds**
|9
**Movement in funds**|||||||
|---|---|---|---|---|---|---|
|**Restricted funds:**
**Unrestricted funds:**
**General funds**
**Total funds**
10**Reconciliation of net debt**
Cash and cash equivalents
Net debt||**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
48,738
48,738
**At 1 January**
**2023**
**£**
136,319
136,319
136,319||**Resources**
**expended**
**£**
(30,608)
(30,608)
**Cash flows**
**£**
18,770
18,770
18,770||**At 31**
**December**
**2023**
**£**
153,489|
|||||||153,489|
|||||||**At 31**
**December**
**2023**
**£**
155,089|
|||||||155,089|
|||||||155,089|
Page 12
**Ministerio Internacional Fuente De Vida Detailed Statement of Financial Activities**
## **for the year ended 31 December 2023**
|**Income and endowments from:**
Donations and legacies
Donations and legacies
Charitable activities
Gift aid
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Outreach
Ministry
Costs of other trading activities
Royalty Fee
**Total of expenditure on raising**
**funds**
Governance costs
**Total of expenditure on charitable**
**activities**
Other expenditure
Asset Purchases
Motor and travel costs
Travel and subsistence
Rent
General administrative costs,
including depreciation and
amortisation
General insurances
Software, IT support and related
costs
Stationery and printing|**Unrestricted**
**funds**
**2023**
**£**
45,777
45,777
2,961
2,961
48,738
-
5,207
5,207
-
-
5,207
2,311
2,311
5,399
-
-
2,570
2,570
10,983
10,983
257
1,425
1,324|**Total funds**
**2023**
**£**
45,777
45,777
2,961
2,961
48,738
-
5,207
5,207
-
-
5,207
2,311
2,311
5,399
-
-
2,570
2,570
10,983
10,983
257
1,425
1,324|**Total funds**
**2022**
**£**
37,763|
|---|---|---|---|
||||37,763|
||||-|
||||-|
||||37,763
300
3,384|
||||3,684|
||||375|
||||375|
||||4,059
1,500|
||||1,500|
||||1,500
347|
||||347|
||||-|
||||-|
||||9,740|
||||9,740|
||||247
612
240|
Page 13
**Ministerio Internacional Fuente De Vida**
## **Detailed Statement of Financial Activities**
|**Ministerio Internacional Fuente De Vida**
**Detailed Statement of Financial Activities**||||
|---|---|---|---|
|Subscriptions
Sundry expenses
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|193
3,250
6,449
20,002
30,608
-
18,130
18,130
-
18,130
135,359
153,489|193
3,250
6,449
20,002
30,608
-
18,130
18,130
-
18,130
135,359
153,489|217
933|
||||2,249|
||||12,336|
||||17,895
-|
||||19,868
19,868
-|
||||19,868|
||||135,359|
||||155,227|
Page 14