JOY HOUSE MINISTRIES Charlty No. 1047691 Trustee's Report and Unaudlted Accounts 31 March 2023 JOY HOUSE MINISfRIES Trustees Annual Report The trustee presents their report with the unaudited financial statements of the charity for the year ended 31 March 2023. REFERENCE AND ADMINisfRATIVE D￿Alls Charfty No. 1047691 Trustee The following trustee Se￿ed during the year: 8. SMITH Accountants Aria Accountants Ltd 23 Masons Avenue arrow HA3 SAH The trustee Is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial positlon of the charity and to enable them to ensure that the financial ststements comply wlth the Charities Act 2011. the applicable Charities (Attounts and Reports) Re8ulations, and the provlsions of the Trust deed. The Trustee is also responsible for safe8uardin8 the assets of the charfty and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed . SMITH Trustee 31 March 2023 JOY HOUSE MINISTRIES ststement of Financlal Artlvities for the year ended 31 March 2023 Unrestricted funds Totsl funds Total funds 2023 2023 2022 Notes Income and endowments from: Donations and legacies Investment5 99.320 99,320 103,572 Totsl 99,322 99.322 103,580 Expendlture on: Raising funds Charitable activities Other 108,064 3,325 107,564 3,325 107,564 Totsl 110.889 110,889 108,064 Net Bains on investments Net expendlture Transfers between funds Net expendtture before ¢>ther galnslllosses} 111,5671 111.5671 14.4841 111.5671 111.5671 14.4841 Other galns and losses Gains on revaluation of fixed assets 6.473 6,473 10,957 Net movement In funds 15,0941 15,0941 6,473 Reconclllatlon of funds.. Total funds carrled forward 15,0941 15,0941 6,473 JOY HOUSE MINisfRIES Balance Sheet at 31 March 2023 Charity No. 1047691 2023 2022 Fixed assets Tangible assets io 6.266 6.266 6.705 6,705 Current assets Cash at bank and in hand 18,8371 18,8371 12.523) {11.360} 15,0941 15,094) 1.638 1,638 11,8701 12321 6,473 6,473 CredFtors: Amount falllng due within one year Net eurrent liabllltle5 li Total assets le55 current liabilltles Net Illabllltiesllassets excludlTrg penslon asset or liabillty Total net {IlabilltSes)/a$5ets 15.0941 6,473 The funds of the tharlty Restrlcted funds Unrestrlcted fvnds General fund5 12 12 {11,5671 111,5671 Reserves Revaluation reserve 6,473 6.473 Totsl funds 15.0941 Approved by the trustees on 31 March 2023 And signed on their behalf by: B. SMITH Trustee 31 March 2023 IOY HOUSE MINISTRIES Notss to the Accounts for the year ended 31 Marth 2023 l Accounting pollcles Basls of preparation The financial statements have been prepared in accordance with Statement of Recommended Practice.. Accounting and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Change In basis of accounting or to Previo￿ accounts There has been no change to the accounting policies (valuation rules and method of accountin81 since last year and no chan8es have been made to accounts for previous years. Fund accountlng Llnrestrirted funds These are available for use at the discretion of the trustees in furtherance of the general object5 of the charity. These are unrestricted funds eamiarked by the trustees for particular purposes. These are Un￿strICted funds which include a revaluation reSe￿e representing the restatement of investment assets at their market values. These are available for use subject to ￿$trICt10n5 imposed by the donor or throu8h terms of an appeal. Designated fund5 Revaluation funds Restrirted funds Income Recognition of Income Income is included in the Statement of Financial Activities ISOFAI when the charity become5 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 legacies Voluntary income retrived by way of grants, donations and gifts is included in the 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 15 not included in the accounts. Investment income This 15 included in the occounts when receivable. Gain51llossesl on This includes any gain or loss resulting from revaluing investments to market value revalyation of fixed at the end of the year. assets Gains/llossesl on investment a55ets This indudes any gain or loss on the sale of investments. JOY HOUSE MINISTRIES Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which 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 inCUr￿d by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects. including the making of grant5 and governance costs. All grant expendrture 15 accounted for on an artval paid basis plus an accrual for grants that have been approved by the trustee5 at the end of the year but not yet paid. These include those costs associated with meeting the constltutlonal and statutory requirements of the Charity, including any auditTindependent examination fees, costs linked to the strategic management of the Charity. tO8ether with a share of other administration tosts. Other expendlture These are support costs not allocated to a particular activity. Grants payable Governance costs Taxatlon The charity is exempt from tax on tts charitsble activities. Freehold Investment pmperty Investment properties are measured inFtially at cost and subsequently at falr value at each balance sheet date and are not depreciated. All gains or1055es are taken to the Statement of Financial Activities as thev arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are reco8nised 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 equlvalents 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 ar)d cash equivalents are shown net of bank overdrafts that are repayable on demand and fom an integral part of the company's cash management. Trade and other credftors 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 piovi5ions are normally recognised at their settlement amount after allowing for any trade discounts due. JOY HOUSE MINISTRIES Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign Currencles Monetary assets and liabilities denominated in currencies other than the funrtionèl currency of the charity are translated at the rates of exchange prevailing at the end of the reportin8 period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transartion occurred. All exchange differences are are taken into account in arrNing at net incomelexpenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and reward5 of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer 5ubstantialSy all the risks and rewards of ownership to charity are classified as operating lea5e5. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or. if lower. at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediatety, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity'5 policy on borrowing costs. A55ets held under finance leases are depreciated in the same way as owned awts. Operatln8 lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are reco8nised as a liability. The a88re8ate benefit of incentives is recognised as a reduction of rental expense on a strai8ht-line basis. Penslon costs The charity operates a defined contribution plan for its employees. A defined contribution plan Is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obli8ations. The contributions are recognised as expenses when they fall due. Amounts not paid a￿ shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Recelpt of donated goods, facilities and servites All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. JOY HOUSE MINISTRIES Notes to the Attounts 2 Statement of Financlal ArtS¥itie5- prior year Unrestrirted funds Totsl funds 2022 2022 Income and endowments from: Donations and legacies Investments 103.572 103,572 Totsl 103,580 103.580 Expendlture on: Raising funds Total 108,064 108,064 108,064 108,064 Net Income 14,4841 14,4841 Net Sncome l)efore other zalnslllosses} Other galn5 and losses: Gains on revaluation of fixed assets 14,4841 14,4841 10,957 10,957 Net movement In funds 6,473 6,473 Re¢oncSllatlon of funds: Total fvnds carrled forward 6,473 6,473 3 Income from donatlons and legacles Unrestrlrted Totsl Total 2023 2022 99.320 99,320 99,320 99,320 103,572 103,572 4 Income from Investments Unre5trirted Totsl Totsl 2023 2022 5 Expenditure on raising fvnds Total Total 2023 2022 Costs of genemting voluntary income 108.064 108,064 JOY HOUSE MINISTRIES Notes to the Accounts 6 Expendlture on chafitable artivities Unrestrirted Total Totsl 2023 2022 Expenditure on thoritoble octivities 3,325 3,325 Governonce costs 3,325 3,325 7 Other expenditure Unrestrfcted Total Totsl 2023 2022 Employee costs Motor and travel costs 43,022 5.4CKI 43.022 Premise5 costs Amortisation, depreciation. impairment, profit￿05$ on disposal of fixed assets General administrative costs 41,288 41,288 2,089 2,089 14.965 800 14,965 80) Le8al and professional costs 107,564 107,564 8 expendlture before transfers 2022 Thls is stated after charging: Depreciation of owned fixed assets 9 stsff costs 2,089 2023 2022 Salaries and wages 31,21XJ 31,2CQ No employee received emoluments in excess of £(￿.1￿. JOY HOUSE MINISTRIES Notes to the Accounts 10 Tangible fixed assets Cost or revaluation At l April 2022 Additions At 31 March 2023 14.985 1,650 16.635 18,358 33,343 1,650 34,993 18,358 Depreciatlon and Impaimient At l April 2022 Depreciatlon charge for the year At 31 March 2023 8.853 17.785 26,638 143 2,089 10,799 17.928 28,727 Net book values At 31 March 2023 At 31 March 2022 11 Credltors. amounts falling due within one year 5,836 6,132 430 573 6,266 6,705 2023 2022 Other taxes and social security Accruals 1.137 1,386 2,523 1,030 840 1,870 12 Movement In funds Incoming resources Ilncludlng other 8ains/losses Resources expended At31 March 2023 Restrlcted fvnds: Unrestrtrted funds: General funds 99.322 {110,8891 111,5671 Revaluation Reserves: Revaluation fund 6,473 6,473 Totol revoluation reserves 6,473 6,473 Total funds 105.795 1110,8891 15,0941 Purposes and restriction5 in relation to the funds: Revaluation reserves Represent the amount by which inve5trnents exceed their historical cost. JOY HOUSE MINisfRIES Notes to the Accounts 13 Analysls of net assets between funds Unrestricted funds Restrlcted Total funds Fixed assets Net current assets 6,266 18,8371 12,5711 6,266 111,3601 15.0941 12.5231 12.5231 14 Reconcillatlon of net debt At31 March At l Aprll 2022 Cash flow5 2023 Cash and cash equivalents 1,638 1,638 110,4751 110,4751 18,8371 18,8371 Net debt 1,638 110,4751 18,8371 JOY HOUSE MINISTRIES Statement of Cash flows for the year ended 31 March 2023 2023 2022 Cash flow5 from operating artivities Net (expenditure)fincome per Statement of Flnanual Artlvltles 15,0941 6,473 Adjustments for: Depreciation of property. plant and equipment Dividends, interest and rents from investments Increase in trade and other payables 2,089 26,638 653 1,870 Net tash (used in)Iprovlded by operatlng actlvltles {2,3541 34,973 Cash Ilows from Investln8 actlvities Payments for property, plant and equipment Dividends, interest and rents from investments 11.6501 133,3431 Net cash used In Investlng artlvltles 11,6481 133,3351 Net tash from flnanclng actlvltles Net Idecrease)Ilncrease In cash and ¢a5h equlvalents 14.CK121 1,638 Cash and cash equlvalents at the beglnnln8 of the year 1.638 Cash and cash equlvalents at the end of the year 12,3641 1,638 ComFK)nents of cash and cash equlvalents Cash and bank balances 18.837) 1,638 18,8371 1,638 JOY HOUSE MINISTRIES Detalled SL7tement of Finan¢ial Artivitie5 for the year ended 31 March 2023 Unrestrfrted funds Totsl fvnds Total funds 2023 2023 2022 Income and endowments from: Donations and legacies 99,320 99.320 99,320 99.320 103,572 103,572 Investments Total Income and endowments 99,322 99,322 103,580 Expendlture on: Cost5 of generating donations and legacies 108,064 108,064 Total of expendlture on raSsln8 funds 108,064 Charitable activities 3,325 3.325 3,325 3.325 Totsl of expenditure on charitsble actlvltles 3,325 3,325 Employee costs Salaries/wages Staff entertalnment Staff welfare 31.2CK) 5,71XI 6,122 43,022 31,2C 5,71Xi 6,122 43,022 Motor and travel costs Vehicles - Insurance and licences Travel and subsistence 878 878 4,522 5,4CQ 4.522 Premises costs Rent Light, heat and power 41,088 200 41,088 2tx) 41,288 41,288 General administrative costs, including depreciation and amortisation Depreciation of Depreciation of Bank charges 1,946 143 1.946 143 1.042 1,042 JOY HOUSE MINlSfRIES Detailed Statement of Financial Artivities Equipment repairs and maintenance 12.182 12,182 Postage and couriers Stationery and printin8 Telephone, fax and broadband 163 163 1.570 17,054 1,570 17,054 Legal and professional costs Accountancy and bookkeeping 8CN) Total of expendlture of other costs 107,564 107.564 Totsl expendlture Net gains on investments 110,889 110,889 108,064 Net expenditure 111,5671 111,5671 14,4841 Net expendlture before other alnsl{lossesl Other recognised galns and losses Gains on revaluation of fixed 111,5671 {11,5671 14,4841 6.473 6,473 10,957 assets Other Gains Net movement In funds 15.0941 15,0941 6,473 Reconclllatlon of funds: Total funds brou8ht forward Totsl funds carrled forward 15,0941 15,0941 6,473 JOY HOUSE MINISTRIES TRUSTEESANNUAL REPORT FOR THE YEAR ENDED 31 03 2023 l. Introduction The trustees of the charity, Joy House Ministries, present their report with the financial statements of the charity for the year ended 3110312023. The trustees have adopted the provisions of Accounting and Reporting by Chadtles: Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffertive l January 2￿￿5). 2. Strurture• governance, and management Joy House Ministries Is a registered charity with the Charity Commission of England and Wale5. Charity registration number: 1047691 New trustees of Joy House Ministrie5 are appointed by the existing Board . The Constitution provides for a minimum of three trustees to a maximum of nine tnjstees, of whlch no more than three can be non-members. All trustees give up their time freely and no trustee remuneration Is paid. The followlng Trustees have served throu8hout the accounting period, except where indlcated: Mrs Betty Smrth (Chair) Reverend Jimmy Llght Blshop Ann Roberts Governln8 docurnent Its 8overnin8 document is its Articles of Association as set out on 2511)4/1995. 3. Organlsational Structure The charity employs flve pastors, all of whom report to the board of trustees. The trustees 8lve their time voluntarily and received no benefits from the charity. No expenses have been reclaimed by any of the trustees from the charity in the period concerned. The general governance of the charity is the responsibility of the Trustees- however, the day-to-day operation is delegated to Rev Martin ossei, Senior Pastor. Rev Martin Ossei takes any matters of variation to Trustees, meetings for decision making. 4. Recruitment and appointment of new Trustees Appointment and removal of trustees/directors15 in accordance with the constitution of the charity. Normally, the Trustees meet four times per year to consider financial considerations and operations of the Charity. 5. Alms and purposes Our purpose as recorded in our constitution is to advance and proclaim the Christlan faith by the promotion of the Gospel of our Lord Jesus Christ and to extend the Christian Evangelical Faith in the U.K and elsewhere. 6. Achlevements and Perfomiance During the flnancial year ended March 2023. Joy House Ministries has continued to promote the Gospel of our Lord Jesus Christ and to Positively affect our community and help the needy. Our regular Sunday Church Services have continued to be well patronised. While the in- person attendance numbers have decreased sli8htly, our online congregation has grown. We attribute this change to the COVID 19 pandemic which has brought about a new online culture. We have however not mi55ed a Sunday se￿iCe where the spiritual, emotional and physlcal needs of our members are met. Our members are also trained to extend this grace to their communltles. Our 3 maJor'Be Stron¢ Conferences in the Spring. Summer and Autumn were well attended and good training and preparation for ministry was given to our members. We have contlnued to work with other ministries within the Borough of Brent wlth similar vision to complement each other in order to maximise our effettiveness. Together we have organised Street Pastors to help with the pastoral needs on the streets of Brent and at major events at Wembley Stadium and other venues in the Borough of Brent. We have educational teams that visit schools to offer pastoral support in their times of need. We meet regularly to pray for our city and nation and or8ani5e joint outreaches to the needy. Food banks provide free food for the desirin8 at different In *ublk eenefft. I decidlngvthat a¢Y￿tIeS the ch•rlty Undertakes. •ctMttes widerta*en byjoy House MlftlstAes are foctsssed ort ourtharii*Je purp 11. ¢￿￿•M After makln8 appfoprl*te enqulrl4 theTru5tw have a reasonab￿ eyweaatkn thatthe tharrty has adequlte re%>urcetOW•tintse Ih optratlonal extstence fortheforesee•bJe luture. ForthLs rea50n. theycc#7Unue to adopt the 8oln8 torKem basls IN prep•rin8 the flnandal statement& Furtherdet•its re8ardkn8thead¢pthn of the ￿COnCern basos ¢•n be bund In the ¥crMJntin6 F￿d￿les. Sl8nature'. 33111/￿>8