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Trustees Report
For the period ended 31[st] December 2022
Registered office – 19 Seymour Street, Gateshead, NE11 9AH
Registered Charity Number 1195057 fovchurchuk@gmail.com
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Introduction
Fountain of Victory Church (FOV) is a vibrant and inclusive congregation that has been making a positive impact on the local community since its establishment in November 2019. We are delighted to share that on July 5th, 2021, we achieved official registration as a church.
At FOV, our core commitment lies in fostering a strong and vibrant relationship with God and with one another. Inspired by Jesus Christ's message of the gospel, we believe in living life to the fullest (John 10:10). In all aspects of our ministry, we strive to make every service enjoyable, enthusiastic, and transformational, seeking to bring positive change to people's lives.
Our church community extends a warm welcome and encouragement to everyone to participate actively in our gatherings. As we come together, we grow as the family of God. Our Sunday services are transformative and empowering, offering relevant teachings that challenge and inspire us. Our deep passion is to introduce people to the life-changing love of God, believing that humanity was designed for a loving relationship with Him.
We hold our worship and fellowship sessions at the Lobley Hill Community Centre, a fantastic hub that caters to the needs of our residents. The Centre, on a yearly usage agreement, has become a popular gathering place for people of all ages, hosting numerous community events.
Our dedication to the community goes beyond worship. We offer a wide range of programs and services that cater to the diverse needs and interests of our residents. From education and training programs to recreational activities, we strive to create a welcoming and inclusive environment where everyone can learn, grow, and experience the presence of God.
As a church, we are always seeking new ways to engage with our community and provide them with the necessary resources to thrive. We organize conferences, workshops, classes, and community events, believing that everyone deserves access to the tools and support needed to reach their full Christian potential.
We take pride in being a cornerstone of our community at the Lobley Hill Community Centre. Our commitment lies in fostering a powerful sense of connection and belonging among the local people, and we eagerly anticipate serving the needs of our community for many years to come.
Our congregation is led by Pastors William Ilemba and Brenda Mahuka Ilemba. Despite being a relatively young church, with an average congregation size of 40 individuals, FOV boasts a diverse membership that spans across different age groups, from the youth to the elderly. We strive to create a welcoming environment for everyone, irrespective of age, background, or ethnicity.
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Reference and Administrative Details
Trustees: William Ilemba, Brenda Mahuka, Dave Coulson, Neil Graham Registered Charity Name: Fountain of Victory (FOV), Fountain of Victory Church Registered Office: 19 Seymour Street, Gateshead, NE11 9AH Registered Charity Number: 1195057 Registration Date: 5th July 2021 Bankers: Lloyds Bank Public Liability Insurers: Ansvar Insurance Independent Assessor: Mercy Moyo (ACCA 1976048)
Fountain of Victory Church – Annual Reports as of 31 December 2022
Structure, Governance & Management
Fountain of Victory Church is a Charitable Incorporated Organization governed under the CIO foundation model dated 2nd July 2021. Additionally, we are part of the Fountain of Victory International network, headquartered in Malawi.
To ensure the safety and well-being of children and vulnerable groups within our community, we have implemented a robust safeguarding policy that adheres to legal requirements. As an added support, we are proud members of Thirty-one Eight, the sole independent Christian safeguarding charity in the United Kingdom. For more information about Thirty-one Eight, please visit their official website at: https://www.thirtyoneeight.org.
Objectives, Activities & Public Benefit
The church is dedicated to achieving its charitable objectives through the following means:
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Advancing the Christian faith : We aim to benefit the people of Gateshead and surrounding areas by promoting the Christian faith. This includes providing Christian worship and teaching to deepen individuals' spiritual understanding and connection.
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Practical care and support : We actively engage in practical care and support initiatives to enhance the well-being of families and individuals. We prioritize their spiritual, social, physical, and mental well-being, regardless of their background. Our various programs foster a sense of community and aid where needed.
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- Other charitable endeavours : In addition to the objectives mentioned, we undertake various charitable endeavours deemed appropriate by our trustees. These initiatives encompass a wide range of activities designed to positively impact the lives of those we serve.
By pursuing these objectives, activities, and endeavours, our charity seeks to provide substantial public benefit to the community we serve.
Achievements and Performance
This year, we have witnessed a consistent and gratifying increase in attendance at our events. While we acknowledge this progress, we recognize that there is still ample room for improvement to ensure a diverse range of individuals engage with our activities.
- Sunday Worship Services : We gather for worship every Sunday morning from 11 am to 1 pm. Our Sunday service encourages Christian freedom in worship through prayer, praise and worship in music, and teachings of God's word. Before and after the service, we provide time for tea, coffee, and relaxed socializing.
Throughout this year, our services have been conducted as planned, resulting in successful outcomes. Notably, we have been joyfully welcoming new members to our Sunday worship, contributing to our vibrant and growing community.
- Midweek Services – Wednesday & Friday Prayer Services : Apart from Sunday worship, we believe midweek meetings are essential. We hold service at the church on Wednesday and Friday evenings.
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Wednesday's prayer service is dedicated to communing with God through prayer.
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Friday's program includes Bible classes where topics are discussed, and questions are answered.
Throughout this year, our midweek services have experienced a consistent attendance. We have welcomed attendees of diverse ages, including young individuals and those from the Erdely community. Nonetheless, we recognize the opportunity to further diversify our midweek congregation. We passionately believe that these services possess immense potential to attract a wide range of individuals who may find it challenging to attend Sunday worship.
- Children's Church : During our services, children initially join us and later move to their space for fun and bible-based activities led by our resolute team of volunteers. They also engage in various performances, award ceremonies, and parties, building friendships and life skills.
Our Children's Church has maintained a steady attendance from a core group of participants this year. This is primarily attributed to the fact that a sizeable part of our service attendees does not bring their children along. On a positive note, we have recently received an increased number of inquiries from parents expressing keen interest in involving their children in our Children's Church.
This presents a promising outlook for growth in this ministry. We expect greater expansion in the upcoming year, particularly as we enhance our outreach efforts and continue to develop the Children's Church experience.
- Fountain Drop Inn - Food & Clothing Bank : Every alternate Friday, we extend a warm welcome to the community by opening our Centre to supply a valuable service: a clothing and food bank. Within this initiative, we collect and distribute clean, high-quality, gently used children's clothes, catering to families facing financial challenges.
Throughout this year, our Drop Inn has diligently run according to schedule, receiving visits from individuals seeking clothing assistance, toys, and even some food items. As we reflect on our achievements, we are actively strategizing for the future. To enhance our impact, we're planning to transition to a weekly schedule next year. This adjustment is aimed at accommodating a broader range of individuals who can receive help from our services.
Furthermore, we're currently evaluating the suitability of our operational location, ensuring it aligns effectively with our purpose and mission. We are committed to perfecting our services and outreach for the betterment of the community we serve.
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Homeless Support : Across the year, our members extend spontaneous aid to individuals experiencing homelessness. We achieve this by assembling care packages including essential toiletries and basic food items, which are subsequently distributed to the needy. This endeavour is in perfect harmony with our fundamental goal of "Practical care and support." Looking ahead, we are steadfast in our commitment to amplify our support efforts in the upcoming year.
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Empowered Women's Gatherings : We organize inclusive gatherings, known as " Victorious Women ," which serve as a platform for women to get empowered and forge connections.
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These events take place in diverse settings such as church, homes, restaurants, and cafes, and are open to both members and non-members. Regrettably, due to the circumstances of this year, we were unable to conduct any in-person women-focused activities. However, we successfully collaborated with FOV Malawi to host meaningful online services as a joint effort.
- Men's Fellowship : We host periodic social gatherings designed for men and their guests, aiming to foster mutual encouragement and spiritual development. These events encompass insightful discussions centred around the teachings of the Scriptures, coupled with engaging activities such as sports events and outings.
During the current year, we organized a successful men's event known as the "Men's Breakfast," which garnered a commendable attendance. As we look forward to the upcoming year, we are enthusiastic about expanding our offerings to include a wider array of activities, enabling us to further strengthen the bonds of camaraderie and personal growth among the men in our community.
- Conferences and Gatherings : This year has seen the successful execution of three impactful events, each reaching a wide audience both physically and through online channels.
Conferences: Our commitment to enhancing the faith and personal growth of our members and friends is evident through our participation in UK-based and online conferences. These events offer teachings that empower individuals. Throughout the reporting period, we organized an in-house winter conference that drew an average daily attendance of 80 participants.
Events: In furtherance of our mission to share faith, foster connections, and engage with the community, we arranged two noteworthy festivals—a three-day Easter festival and a three-day summer festival. These occasions included a blend of Christian teachings, recreational activities, complimentary meals, and captivating live music performances. The festivals saw an average attendance of 105 individuals, encompassing both adults and children.
- Giving: At our church, we firmly embrace the timeless biblical principle of Tithing and offering. The current year has seen an exceptional surge in our income—exceeding 100% growth compared to the previous year. This remarkable financial progress stands as a clear testament to the strides our church has made in its journey.
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Statement of Trustees' Responsibilities
The trustees bear several responsibilities about the preparation of the trustees' report and financial statements. These responsibilities are in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), as well as relevant laws and regulations.
The trustees are responsible for preparing financial statements for each fiscal year, ensuring they provide a true and fair view of the charitable company's situation, incoming resources, application of resources, income, and expenditure for that period. In preparing the financial statements, the trustees are required to:
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Select appropriate accounting policies and consistently apply them.
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Adhere to the methods and principles outlined in the Charities SORP.
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Exercise reasonable and prudent judgment when making estimates and assumptions.
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Disclose whether applicable UK Accounting Standards have been followed, with any significant depart.
Additionally, the trustees are responsible for keeping adequate accounting records that sufficiently document and explain the charitable company's transactions. These records should accurately reflect the financial position of the charitable company at any given time, ensuring compliance with the Companies Act 2006. The trustees are also accountable for safeguarding the assets of the charitable company, including taking reasonable measures to prevent and detect fraud and other irregularities.
Approved by the trustees of the charity on 18th May 2023 and signed on its behalf by:
W Ilemba
William Ilemba - Trustee
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Financial
Report
18 months period from 5[th] July 2021 to 31st December 2022
Registered office – 19 Seymour Street, Gateshead, NE11 9AH Registered Charity Number 1195057
fovchurchuk@gmail.com
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Fountain of Victory Church
Statement of Financial Activities for the 18 months period from 5[th] July 2021 to 31st December 2022
| Notes Income Voluntary Donations 3 Other Income 3 Expenditure Charitable activities 4 Governance costs 4 Net (expenditure)/income Net (expenditure)/income Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds Total 2022 £ £ |
|---|---|
| 22,346 22,346 3,812 3,812 |
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| 26,158 26,158 17,881 17,881 843 843 |
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| 18,724 18,724 |
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| 7,434 7,434 |
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| 7,434 7,434 - - |
|
| 7,434 7,434 |
All of the charity's activities derive from continuing operations during the above period
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Fountain of Victory Church
Balance Sheet as of 31[st] December 2022
| Notes Fixed & Current Assets Fixed Assets 6 Current Assets 5 Total Assets Charity's Unrestricted Funds: General Fund 7 Retained Fund 7 Total Funds |
2022 Total £ £ |
|---|---|
| 3,217 3,217 7,346 7,346 |
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| 10,564 10,564 |
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| 3,217 3,217 7,346 7,346 |
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| 10,564 10,564 |
For the financial period ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the period in question in accordance with section 476; and
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The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements on this report were approved by the trustees and authorised for issue on 21[st] April 2023 and signed on their behalf by:
W Ilemba
Mr. W Ilemba
Trustee
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Notes to the Financial Statements for the period ended 31 December 2022
1 Charity status
The Church is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Fountain of Victory 19 Seymour Street NE11 9AH Gateshead
These financial statements were authorised for issue by the trustees on 21[st] April 2023
2 Accounting policies
Summary of significant accounting policies and key accounting estimates. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Fountain of Victory 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 notes.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees have assessed that the use of going concern is appropriate as there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the church to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Notes to the Financial Statements for the period ended 31 December 2022
2 Accounting policies (continued)
Exemption from preparing a cash flow statement.
The church opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income
All income is recognised when received and the amount can be measured reliably. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the church, and it is probable that these conditions will be fulfilled in the reporting period.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, and depreciation charges allocated on the portion of the asset’s use.
Charitable activities
Charitable expenditure refers to the costs incurred by the church in conducting its charitable activities and providing services to its beneficiaries. This includes both direct costs, such as the cost of supplies and equipment needed for the activities, and indirect costs, such as administrative expenses that are necessary to support the activities.
Governance costs
Governance costs refer to the expenses and resources associated with the process of managing and administering the Church. These costs may include financial expenses such as salaries, legal fees, and accounting fees, as well as non-financial expenses such as time and effort spent on decision-making, communication, and coordination among stakeholders. Governance costs are incurred to ensure that the organization is run efficiently, transparently, and in compliance with relevant laws, regulations, and ethical standards.
Taxation
The church is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the church is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Notes to the Financial Statements for the period ended 31 December 2022
2 Accounting policies (continued)
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on a straight-line basis at a rate of 20% on cost for all tangible fixed assets to write off the cost or valuation, less any estimated residual value, over their expected useful economic life.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the church becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained
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Notes to the Financial Statements for the period ended 31 December 2022
2 Accounting policies (continued)
Recognition and measurement(continued)
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
3 Income from Donations & charitable activities
Resources Income - 5th Jul21 - 31st Dec22
| Resources Income - 5th Jul21 - | 31st Dec22 | ||
|---|---|---|---|
| Total | Voluntary | Other | |
| Income | Income | ||
| £ | £ | £ | |
| Total | 26,158 | 22,346 | 3,812 |
| Offerings | 9,475 | 9,475 | - |
| Tithes | 12,871 | 12,871 | - |
| *Other - Contributions | 3,812 | - | 3,812 |
- Donations from individuals for specific expenses
4 Expenditure Analysis
Resources Expended - 5th Jul21 - 31st Dec22
| Total | Charitable | Governance | Governance | Governance | |
|---|---|---|---|---|---|
| Activities | Costs | ||||
| £ | £ | £ | |||
| 18,724 | 17,881 | 843 | |||
| Premises Expenses · Rent | 8,845 | 8,845 | - | ||
| Transportation Expenses | 872 | 872 | - | ||
| Media, Advertising & Print | 956 | 956 | - | ||
| Conferences & Events | 2,352 | 2,352 | - | ||
| Hospitality & Cleaning | 1,571 | 1,571 | - | ||
| Training & Subscriptions | 843 | - | 843 | ||
| Special Expenses - Capital · Fixtures & Fitting | 1,014 | 1,014 | - | ||
| Special Expenses - Capital · AV Equipment | 1,347 | 1,347 | - | ||
| Special Expenses - Capital · Music Equipment | 923 | 923 | - |
*There were no paid employees and no remuneration nor expenses paid to the trustees or volunteers.
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Notes to the Financial Statements for the period ended 31 December 2022
5 Current Assets/Liabilities
Current Asset/liabilities Schedule - Year end 31st Dec 2022
| Cash | Bank | Total | |||
|---|---|---|---|---|---|
| £ | £ | £ | |||
| *Balance on 5th July 2021 | - | 88 |
- | - | 88 |
| Net Cash Inflow/(Outflow) | 88 | 7,346 | 7,434 | ||
| Balance on 31st December 2022 | - | 7,346 | 7,346 |
- Start-up expenses paid by trustees carried forward
6 Fixed Assets
Fixed Assets Schedule - Year end 31st Dec 2022
| Fixture & Fitting £ |
AV Equipment £ |
Music Equipment £ |
Total £ |
|||||
|---|---|---|---|---|---|---|---|---|
| Balance on 5th Jul 2021 | 39 | 142 | 831 | 1,012 | ||||
| Additions | 1,014 | 1,347 | 923 | 3,284 | ||||
| Total | 1,053 | 1,489 | 1,754 | 4,297 | ||||
| Depreciation Charge for theyear * | - | 217 |
- | 313 |
- | 549 |
- | 1,079 |
| Balance on 31st December 2022 | 836 | 1,176 | 1,205 | 3,217 |
7 Charitable Funds
Charitable Funds Schedule - Year end 31st Dec 2022
| General | Returned | Total Charitable | Total Charitable | |||
|---|---|---|---|---|---|---|
| Fund | Funds | Funds | ||||
| £ | £ | £ | ||||
| Balance on 5th Jul 2021 | 1,012 | - | 88 |
925 | ||
| Returned Resources Surplus on 31st December 2022 | - | 7,434 | 7,434 | |||
| Fixed Assets Additions | 3,284 | - | 3,284 | |||
| Fixed Assets Depreciation Charge | - | 1,079 |
- | - | 1,079 |
|
| Balance on 31st December 2022 | 3,217 | 7,346 | 10,564 |
Fountain of Victory Church – Annual Reports as of 31 December 2022
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Notes to the Financial Statements for the period ended 31 December 2022
8 Trustees remuneration and expenses
No trustees have received any remuneration from the church during the period. Where a person related to any trustee has received remuneration from the church, that trustee has not been party to any decision regarding the remuneration.
9 Taxation
The church is a registered charity and is normally exempt from taxation under the provisions of the small trading tax exemption as relating to charities. The charity is exempt from the requirement to register for VAT as the non-primary trading income of the charity is below the VAT registration threshold.
Fountain of Victory Church – Annual Reports as of 31 December 2022
Independent Examiner’s Report to the Trustees of Fountain of Victory Church
For the period from 5 July 2021 to 31 December 2022
I report to the trustees on my examination of the accounts of Fountain of Victory Church Trust (the Trust) for the period ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner’s report
My inspection was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to where the accounts provide a “true and fair view”, and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 to enable a proper understanding of the accounts to be reached.
Signed: 19[th] September 2023
Mercy Moyo
Mercy Moyo (ACCA 1976048, signed in line with ACCA Honorary work guidelines) Independent Accountant
Fountain of Victory Church – Annual Reports as of 31 December 2022