FOUNTAIN OF LIFE CHURCH INTL
Registered number: 04774532
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,316 13,533
Current assets
Debtors 4 12,845 13,120
Cash at bank and in hand 2,714 5,255
15,559 18,375
Creditors: amounts falling due within one year 5 (10,891) (6,476)
Net current assets 4,668 11,899
Total assets less current liabilities 20,984 25,432
Creditors: amounts falling due after more than one year 6 (18,576) (19,270)
Net assets 2,408 6,162
Capital and reserves
Profit and loss account 2,408 6,162
Shareholders' funds 2,408 6,162
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rev. Stephen Anning
Director
Approved by the board on 28 August 2024
FOUNTAIN OF LIFE CHURCH INTL
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents donations and gifts to the church.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Church Equipment 20% reducing balance
Improvement to property 20% reducing balance
Furniture & Fittings 20% reducing balance
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Church Equipment Improvement to property Furniture & Fittings Total
£ £ £ £
Cost
At 1 January 2023 33,459 10,186 3,620 47,265
Additions 5,231 - 1,631 6,862
At 31 December 2023 38,690 10,186 5,251 54,127
Depreciation
At 1 January 2023 26,644 4,631 2,457 33,732
Charge for the year 2,409 1,111 559 4,079
At 31 December 2023 29,053 5,742 3,016 37,811
Net book value
At 31 December 2023 9,637 4,444 2,235 16,316
At 31 December 2022 6,815 5,555 1,163 13,533
4 Debtors 2023 2022
£ £
Other debtors 12,845 13,120
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other taxes and social security costs 1,410 651
Other creditors 9,481 5,825
10,891 6,476
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,576 19,270
7 Other information
FOUNTAIN OF LIFE CHURCH INTL is a private company limited by guarantee and incorporated in England. Its registered office is:
Unit 1
248 London Road
Romford
RM7 9EL
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