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 1 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 2 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
-| |---|---| 3 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 4 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 6 ## Streams of Joy International ## **Notes to the Accounts For the year ended 31 October 2024** 3. 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 7 ## 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| ||| 8 ## 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)| 9 ## Streams of Joy International |Legal and professional costs:|| |---|---| |Accountancy fees
|604| |Advertising and PR
|370| |Other legal and profession|200(1,174)| 10