Registered number 10804375
Streams of Joy International
Report and Accounts
31 October 2024
Streams of Joy International
Directors' Report
The directors present their report and accounts for the year ended 31 October 2023.
Principal activities
The company's principal activity during the year continued to be the advancement of the Christian religion by means of broadcasting Christian messages of an evangelistic and teaching nature, through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and/or distributing literature on Christian religion to enlighten other about the Christian religion. The charity also provides the relief of poverty and promotion of social inclusion for the public benefit, mainly, but not exclusively, among people who are refugees and asylum seekers who are socially excluded on the grounds of their social and economic position, by providing:
-
i. education and training in vocational skills
-
ii. social and recreational facilities and events involving the local community
iii items and services to individuals in need to prevent or relieve poverty.
Trustees
The following persons served as directors during the year:
M Eberendu C Iheukwumere S Nwoso Cynthis Kalu Onucherechi C Agbai Ulunma Janet Ufele
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 19 June 2025 and signed on its behalf.
C Iheukwumere Trustee
Streams of Joy International
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Report to the directors on the preparation of the unaudited statutory accounts of Streams of Joy International for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Streams of Joy International for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Elton Accountants Ltd Chartered Certified Accountants 2nd Floor 57 Leverton Street London N22 7BT
19 July 2025
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Streams of Joy International
Profit and Loss Account for the year ended 31 October 2024
| Turnover Administrative expenses Operating profit Profit before taxation Tax on profit Profit for the financial year |
2024 £ 92,679 (84,967) 7,712 7,712 - |
|---|---|
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Streams of Joy International Registered number: 10804375 Balance Sheet as at 31
October 2024
| Notes Fixed assets Tangible assets Current assets 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets Capital and reserves Profit and loss account 5 Shareholders' funds |
2023 £ 19,473 21,200 (2,365) 18,835 38,308 (27,607) 10,700 |
2023 £ 19,473 21,200 (2,365) 18,835 38,308 (27,607) 10,700 |
|---|---|---|
| 38,308 (27,607) |
||
| 10,700 | ||
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.
C Iheukwumere Director Approved by the board on 31[st ] July 2025
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Streams of Joy International
Streams of Joy International Notes to the Accounts for the year ended 31 October 2024
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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is primarily tithes and offerings. the company has not traded yet. When it does, Turnover will be measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover will include revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
| losses. Depreciation is provided on all tangible write off the cost, less estimated residual value, |
fixed assets, other than free of each asset evenly over its |
|---|---|
| Freehold buildings | over 50 years |
| Leasehold land and buildings | over the lease term |
| Plant and machinery | over 5 years |
| Fixtures, fittings, tools and equipment | over 5 years |
| Fund accounting |
General recerves are unrestricted funds that are available for use at the Directors' discretion in furtherance of the objects of the company.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 Number 2
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Streams of Joy International
Notes to the Accounts For the year ended 31 October 2024
- Tangible Fixed Assets Furniture & Equipment £ Cost At 1 November 2023 15.200 Additions 4,273 ------------------ At 31 October 2024 19,473 Depreciation At 31 October 2024 ------------- Net Book Value At 31 October 2024 19,473 At 31 October 2023 15,200
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Streams of Joy International
| 4.Creditors : amounts falling due within one year | 2024 |
|---|---|
| £ | |
| Other Creditors | 2,365 |
| 5.Creditors | |
| Creditors due over one year 27,608 |
6 Other information
Streams of Joy International is a private company limited by shares and incorporated in England. Its registered office is: 177a Hartley Road Nottingham NG7 3DW
Detailed profit and loss account for the
year ended 31 October 2024
This schedule does not form part of the statutory accounts
| Turnover Administrative expenses Operating profit Profit before tax |
2023 £ 92,678 (84,238) |
|---|---|
| 7,712 | |
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Streams of Joy International Detailed profit and loss account for the year ended 31 October 2024
This schedule does not form part of the statutory accounts
| Income Tithes & Offerings Administrative expenses Employee costs: Contractors Staff training and welfare Travel and subsistence Premises costs: Rent Light and heat Cleaning General administrative expenses: Telephone and internet 1,210 Stationery and printing 1,047 Computer costs 1,700 Charitable donations 3,670 Advertising 2078 Health & safety costs 3,917 Entertainment 7,068 Bank charges 144 Insurance 2,488 Repairs 4520 Sundry 2100 |
2024 £ 92,678 |
|---|---|
| 7,960 2,405 5,712 |
|
(16,077) |
|
22,549 12,600 1,896 |
|
(37,045) |
|
| (29,942) |
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Streams of Joy International
| Legal and professional costs: | |
|---|---|
| Accountancy fees |
604 |
| Advertising and PR |
370 |
| Other legal and profession | 200(1,174) |
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