PRS Patton Rainey I Stenson Limited CHARTERED ACCOUNTANTS & REfjISTEFtED AUDITORS REGISTERED COMPANY NUMBER: N1036318 (Northern Ireland) REGISTERED CHARITY NUMBER: 101326 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE FOUNTAIN LIMITED Patton Rainey Stenson Limited Clmrtered Accountants 6 East Bridge Street Enniskillen Co. Fennanagh B T74 7BT CHARTERED ACCOUNTANTS IRELAND Chartered Tax Advisers Registered to cary out audit work and regulated for a range of inve8tm&nt busin8SS activities in the United Klngdotp by the Institut8 of Chartered Accountants in Ireland. Registered in Northem Ireland Company Number Nl 692982.
THE FOUNTAIN LIMITED CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 11
THE FOUNTAIN LIMITED REGISTERED NUMBER: N1036318 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2024 The trustees who are also directors of the charity for the purposes of the Companie5 Act 2006, present their report with the fmancial statements of the charity for the year ended 31 December 2024. The tStee$ have prepared the financial statements in accordance with the Companies Act 2006 and the requirements of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102). OBJECTIVES AND ACTivrriES Objectives and ain The chariWs objectives are for the public benefit as set out in the Articles of Association and are restricted to the following: (a) to advance the Christian Religion O)) to promote the benefit of the inhabitants of Northern Ireland with particular emphasis on young people but without distinction of se& sexual orientation, ra¢¢ or of political. religious or other opinion by associating together the said inhabitants in a common effort to relieve poverty and advance education and to provide facilities in the interests of social welfare for the recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants. Significant aetivities The charity operates a youth centre called the Fountain Centre, for the children and young people living in the area of Kesh and the surrounding areas of North Fennanagh. Public benefit The direct benefits which flow from the pu4)oses of The Fountain (NI) Limited include provision of a range of religious, social. educational and recreational activities mainly based within the Fountain Centre, Kesh foi members of the local community and from the SuoUnding areas of North Fennanagh. providing them wlth the OppOrtLity to avail of activities that assist and improve understanding and knowledge of the Christian religion, educational attainment, health, social interaction and their conditions of life through accessing services and activities that would not nonnally be made available to them. Examples are youth connect groups. youth clubs. facilities that ate appropriate for scouts and guides organisations, keep fit classes. rooms for prayer and worship meetings for children and young people, indoor football, badminton, party events and outreach events foi the community.The Fountain (NI) Limited also provides space for local organisations and chartties to meet allowing these organisations and charities to fLmCtion in a manner that they could not previously attain. Benefits of the activities are evidenced by the measurement of numbers from our purposes are that The Fountain (FII) Limited members and their families can participate in all activities that ate operated and this is incidental and necessary to ensure that all members of the district can potentially benefit. The Trustees seek to ensure that the Public benefit requirement is considered and The Fountain INI) Limited facilitates the advancement of the Christian Religion and having due regard to the Charity Commission guidance on public benefit. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a memorandum and articles os association, and constitutes a limited company. limited by guarantee, as defed by the Companies Act 2006. The cotnpany was incorporated on 8 June 1999 and registered with the Charity Commission for Northern Ireland on 5 Febnwy 2015. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1036318 (Northern Ireland) Registered Charity number 101326 Page I
THE FOUNTAIN LIMITED REGISTERED NUMBER: N1036318 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2024 Registered office The Fountain Youth Centre 54 Drumwhinney Road Rosscolban Kesh Co. Fernianagh BT93 ITN Trustees Mrs R Beare Mr A Crawford Mrs E Jones Mr T K Boyle Mrs J Parkinson Mr G Knox Company Secretary Mrs R Beare Independent Examiner Mr Thomas S Patton FCA Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co. Fermanagh BT74 7BT Approved by order of the board of trustees on 16 October 2025 and signed on its behalf by: Mrs E Jones - Trustee Page 2
PRS Patton Rainey I Stenson Limited CHARTERED ACCOUNTANTS & REGISTERED AUDITORS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FOUNTAIN LIMITED I report on the accounts of the company for the year ended 31 Decemb¢r 2024, which ar¢ set out on pages four to eleven. Respective respousibilities of charity trustees and examiner As the CharlS trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the cl)arity is not subject to audit under company law and is eligible for independent examination. it is my responsibility to.. examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the ChaTities Act state whether particular matters have come to my attention. Basis of the illd¢pendent examiner's report I have examined your ch8rtty accounts as required under Section 65 of the Charities Act and my examination was cTled out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Chaiities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention givirjg me cause to believe: That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not Comply with the accounting requiretnents of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is fiuther infomiation needed for a proper understanding of the accounts to be reached. Independent examiner's ststement I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and in connection with following the Directions of the CIlty Commission for Northern IrelaniL I have found no matters that require drawing to your attention. Mr Thomas S Patton FCA Patton Rainey Stenson LimÈted Chartered Accountants 6 East Bridge Street Emiiskillen Co. Fernanagh BT74 7BT 16 October 2025 CHARTERED ACCOUNTANTS IRELAND Chartered Tax Advisers Registered to carry out audit work and r8gulated for a range of investment buslness a¢tfvltS In the United Kingdom by the Institute of Chartered Accountants in Ireland. Registered in North8rn Ireland Company Number Nl 692982.
THE FOUNTAIN LIMITED STATEMENT OF FIIYANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total fimds Unrestricted fidS Restricted fimd Notes IIYCOME AND ENDOWMENTS FROM Donations and legacies 16,125 2,553 18,678 19,954 Other trading adivities Investment income 2,105 17,666 2,105 17,666 2,228 17,666 Total 35,896 2,553 3&449 39,848 EXPENDITURE ON Raising funds 14.410 4,786 19,196 15.923 Other 12,721 12,721 12,775 Total 27,131 4,786 31,917 28,698 NET INCOMEI(EXPENDITURE) 8,765 (2233) 6,532 11.150 RECONCILIATION OF FUNDS Total fimds brought forward 238J24 6J60 244,684 233.534 TOTAL FUNDS CARRIED FORWARD 247,089 4,127 251216 244,684 The notes fonn part of these fmancial statements Page 4
THE FOUNTAIN NI LIMITED REGISTERED NUMBER: N1036318 BALANCE SHEET 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted funds Restricted fund Notes FIXED ASSETS Tangible assets 424,846 424,846 436.925 CURRENT ASSETS Cash at bank 17,020 4,127 21,147 20,202 CREDITORS Amounts falling due within one year (449) (449) (449) NET CURRENT ASSETS 16,571 4,127 20,698 19,753 TOTAL ASSETS LESS CURRENT LIABILITIES 441,417 4,127 445,544 456,678 CREDITORS Amounts falling due after more than one year (194?28) (194J28) (211,994) NET ASSETS 247,089 4,127 251,216 244,684 FUNDS Unrestricied fimds Restricted funds io 247,089 4,127 238,324 6,360 TOTAL FUNDS 251,216 244,684 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its fmancial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The tnteeS acknowledge their responsibilities for (a) ensuring that the charitable Company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing fmancial statements which give a true and fair view of the stat¢ of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to fmancial statements, so far as applicable to the charitable company. (b) The not¢s forn] part of these financial statements Page 5 continued...
THE FOUNTAIN Nl LIMITED REGISTERED NUMBER: N1036318 BALANCE SHEET - ¢ontinued 31 DECEMBER 2024 These Imancial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The fmancial statements were approved by the B0d of Trustee5 and authorised for issue on 16 October 2025 and were signed on its behalf by: Mrs E Jones- Tnte¢ The notes forni part of these financial statements Page 6
THE FOUNTAIN LIMITED NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The fmancial statements of the clthritable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Financial Reporting Standard 102 'Th¢ Financial Reporting Statnard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The Iinancial statements have been prepared under the historical cost convention. Income Income is recognised in the Statement of Financial Activities once the cbarity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expeoditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation comrnitting the charity to that expenditure, it is probable that a transfer of economic b¢nefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all Cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of r¢sources. Tangible red assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Fixtures and fittings 2% oncost 200/0 on reducing balance Taxation The charity is exempt from corporation tax on its clwitable activities. Fund aceoullting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trnstees. Restricted funds can only be used foi particular restricted purposes within the objects of the charity. Restrictions arise when specified by the dorAor or when funds are raised for particular restricted purposes. Grants Grants that relate to specific capital expenditure are treated as deferred income which is then credited to the income and expenditure account over the related asset's useful life. Other grants are credited to the income and expenditure account when received. OTHER TRADING ACTIVITIES 31.12.24 31.12.23 Hire of hall Re-cycling income Sundry 1,676 429 1,778 365 85 2,105 2.228 Page 7 continued...
THE FOUNTAIN LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024 INVESTMENT INCOME 31.12.24 31.12.23 Deferred grant released 17,666 17,666 NET INCOMEI(EXPENDITURE) Net income/(expenditure) is stated after clwgingl(crediting): 31.12.24 31.12.23 Depreciation - owned assets 12,079 12,183 TRUSTEES, REMUNERATION AND BENEFITS There were no tNstees' remuneration or other benefits for the ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 Decetnber 2023. STAFF COSTS 31.12.24 31.12.23 Wages and salaries 41)0 640 400 640 The average monthly number of employees during Lhe year was as follows.. 31.12.24 31.12.23 Athninistration No employees received emoluments in excess of £60,000. Page S continued...
THE FOUNTAIN LIMITED NOTES TO THE FtNANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Fixtures Freehold propety fittings Totals COST At l January 2024 and 31 December 2024 583,231 16,715 599,946 DEPRECIATION At l January 2024 Charge for year J48?76 11,665 14,645 414 163,021 12,079 At 31 December 2024 160,041 15,059 175,100 NET BOOK VALUE At 31 December 2024 423,190 1,656 424,846 At 31 December 2023 434,855 2.070 436,925 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Accruals and deferred income 449 449 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 31.12.23 Deferred goveTnment grants 194J28 211.994 Other creditors includes a deferred grant of £194,328 (2023:£211,994). io. MOVEMENT IN FUND Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Property Capital Fund 48J24 190,000 8,765 57,089 190,000 238J24 8,765 247,089 Restricted funds Duke of Edinburgh Awards Scheme 6J60 (2,233) 4,127 TOTAL FUNDS 244,684 6.532 251216 Page 9 continued...
THE FOUNTAIN NI LIMITED NOTES TO THE FINANCIAL STATEMENTS - coDtinued for the Year Ended 31 DECEMBER 2024 io. MOVEMENT IN FUNDS - eonlinued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Mov¢m¢nt in fidS Unrestricted funds General fimd 35,896 (27,131) 8,765 Restricted funds Duke of Edinburgh AWd$ Scheme 2,553 (4,786) (2233) TOTAL FUNDS 38,449 (31,917) 6,532 Comparatives for movement in funds Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fiuld Property Capital Fund 43.534 190,000 4,790 48,324 190.000 233,534 4,790 238,324 Restricted funds Duke of Edinburgh Awards Scheme 6,360 6,360 TOTAL FUNDS 233,534 11,150 244,684 Comparative net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in fimds Unrestricted funds General fimd 33,423 (28.633) 4,790 Restricted fund$ Duke of Edinburgh Awards Scheme 6.425 (65) 6,360 TOTAL FUNDS 39.848 (28.698) 11,150 Page 10 continued...
THE FOUNTAIN LIMITED NOTES TO THE FtNANCIAL STATEMENTS- Continued for Éhe Year Ended 31 DECEMBER 2024 io. MOVEMENT IN FUNDS- continued A Current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.12.24 At 1.1.23 Ullrestrictsd funds General fiu]d Property Capital Fund 43,534 190,000 13,555 57,089 190,000 233,534 13,555 247,089 Restricted funds Duke of Edinburgh Awards Scheme 4,127 4,127 TOTAL FUNDS 233.534 17,682 251,216 A current year 12 months and prior year 12 months combined net movement in fimds, included in the above are as follows: Incoming resources Resources expended Movement in fidS Ullrestricted funds General fund 69,3l9 (55,764) 13,555 Restricted funds Duke of Edinburgh Awards Scheme 8,978 (4.851) 4.127 TOTAL FUNDS 78297 (60.615) 17.682 ii. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. 12. PROPERTY CAPITAL FUND The funds held in the piopety fund relate to a donation e1Ved from Magheraculmoney Parish Church to assist in the build of the propety. The ternis of this donation are that it is repayable to Magheraculmoney Parish Church in the unlikely event that the propety were to be sold. Pagell