Trustees. Annual Report for the period Yrat From Section A Reference and administration details Charlty name Reglstered charity numbor (rf any) 1050254 Charity's principal address Quany High Street Headington. Oxford Postcodo OX3 8JT Names of the charity trustaes who manage the charity Office rrf Anthony Teagle Chikodi Echeta Trustee Church Members. Meet'rvj Chufch Members, Meety Church Members, MeetirrfJ Trustee Wale Atoyebi 10 12 13 14 15 16 17 18 Namos of the trustees for the charity. If any. (for examplo. any custodlan trustws) Nam• Dates acted if not for wholg Nam￿ and addresses of adviyers (Optional infomiation) of advisef Name Addrvtss Name of chief ax￿utiV• or names of genior slaff members (Opdonal Infornutyon} Section B Structure, overnance and mana ement DesGription of the charlty's trusts Conslitubon 18 January 1994 amen￿ 13 Septerr&>w 20C6 Type of govemiry document Our Trustees are appointed at Chwch Mernber5' Paeétinti Additional governance issues (OptAonal information) You May choos• to include addit1¢x￿1 informknon. where rekvant, aboul: policies and rKocedures adopted for the induction aThJ the charity'5 organi5ational structure and any wider nelwork with whith the charty lat￿nShiP wth any ralatrAI parties; . trustees. consideration of major risks and the syst•m and EKocedure5 to manage them. Section C Ob'ectives and activities THE ADVANCEMENT OF THE CHRISTIAN RELIGION BY THE PROCLAMATION AND FURTHERANCE OF THE GOSPEL OF JESUS CHRIST. Summary of the obpcts of the charlty S•t out in ils govemlng docum•nt Or main aclwtss aro Sunday servKW 8nd Sunday XIKX {ex￿pt firnt SurKlay ol the rnonth we have all age Famity Service). mKk￿Eek prayer meeti￿$ and Bible studie5. Salunjay ￿uth qrDUP and CHURCH TRUSTEES Comerstone is legally ￿lStered as a charity. Every registered charity is legalty requirEd tD have a tx)ard of ttustees. The tr￿teeS are nor stipendiary. Comerstone Church trustees rn￿l from tirre to time, minimum of two times every year. to delilErate on a variety of legalty important matters that may affect the Gharitable status of the church in line ￿th the Charty Commission's ￿al reqU1￿ments good practice recommendations. We appraise and review the life uf the thurth to ensu￿ that the thurch is not only puryAltng the purposes of G(¥J but a150 obserwng due diligence wlth rvJpect to the Sumrnary of the rnain activities undertaken for th• public benefft fn relation to th￿e objects (Snclude wlthln this se¢iion the stabjtory declaration that trustees have had regard to the guidance issuod by the Charity Commlsslon on publk bonefft) The charty is carrying out the purposes for which it is set up, and no Charity funds are not spent on the wrong purposès. ststutory accountirvJ and reporting requirements are mat. The assets ¢Jf the dwrity a￿ only used to 5UPPOrt or carry out its We ar• gratsfijl to God for ifvin• safeguardirvj over us all arKI for the wonderful Iyottr￿ and S￿terS who have continued to give their time and energy to the work of God in various ways through the churth. We thank God e5p2cialty for the Senior Pastors who have served GCMI in Comer5tone year after year wilh diligence. pab.en￿. perseveran￿ and aithfully caring for the congregation that God has placed und8r tham. You rnay Choo￿ io indude relevant. atM)uL" icy on grantmaking: . w)ticy programme reEated ontributKin made by volunteers. Section D Achievements and performance Summary of the main achlevÈments of the charlty during the year Sunday services. are very encouragirKJ with greaw senGrtivty and bcAdness in worship (although qu￿), FKayer, testimony and 2ea¢hiry. Cornerstone's ministries: Children's mlnlsty - A fr*ndly and caring environment where chrfdren Men's Breakfast- regularty n*ets cmce a month. The rren's ministry conlinues to brirvj m•n togettw in Comerstone. The bond of fellowship is strong, Prov￿1ng a setting for meebng together for a time Df te8thNvJ. shar￿. encouraging. Pr￿ng and aimwvJ to 5UPPDrt each other. V¥om•n of Valour- Corrtinue to meet vrfery * Sakndays of the month with Breakfast Fellowship or prayars. This ministy is an important avenue to help and support p￿pIe in T￿1. Prayer Tearn - continues to minister in prayers and activety leadlcoordinate Mi(￿Week payers (online during restrictions). We continue our tW(￿OUr bi-monthly Bible study and prayer sassion to which everyone in church is also encourag￿1 to tak8 part and benefft from. Young Adults - open for all youffj adults meetiTVJ every SuThlay. Section E Financial review Reserve morw will be used for major churth I￿ikIl￿g ￿￿[5 aThJ maintenan(x (roof. healing. eledrical. etc.) Benevolen￿ fund for supports'ng Ewle in serious fnancial diffiCult￿S on totamy charity basis. The Pastor and 2 or 3 members of church leadership approve this. Brief ststement of the charity's s￿licY on reseThes Delails of any funds materially in deficit Further finaYKial detsils (Optional infonnation) You may choose to include addrttonal information. wh￿e relevant about: charity's principal sources of fvnds (including any fundraising): how expendiure has SUPPDrted the key obpcbves of the (•: investment pclicy and objectives induding ary ethical investment policy adopted. Section Full￿ Other optional information W.." Section G Declaration The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's tn Signaturn(s) Full name(s) Anthony Teagle Positron (eg Secretsry. Chalr. Char 19101r2￿25 ## **Cornerstone Church Statement of Financial Position as at 31st March 2024** |Fixed Asset
Total Fixed Asset
Current Asset
Gift Aid Receivable
Cash
Total Current Asset
Net Asset
Funds
Unrestricted Funds (Schedule 1)
=
**Cornerstone Church**
**Statement of Financial Activities**
**As at 31st March 2024**
**Detailed income and Expense**
_Income_
Tithes/Offering
Tax Reclaim and gift aid
Others
**Total Income**
_Expense_
Church operating expense
Donations and contributions
Stipend and Payroll expense
Taxes/Licences/Insurance/Pension
Interest expense
Subscription/membership/fees
**Total Expense**
**Schedule 1**
Beginning Balance
Net Income
Ending Balance|||**31 March 2024**
**31 March 2023**
367,211
366,790| |---|---|---|---| ||||367,211
366,790| ||||32,426
55,426
128,356
40,067| ||||160,782
95,493| |||========|160,782
95,493
527,993
462,283
====================
======================
**31-Mar-24**
**31-Mar-23**
133,035
71,462
17,628
13,953
164
64| ||||**150,827**
**85,479**| ||||26,916
26,440
16,238
21,399
36,588
32,208
4,330
3,402
0
0
1,045
1,539| ||||**85,117**
**84,988**| ||||31 March 2024
31 March 2023
462,283
461,792
65,710
491
527,993
462,283| Independent examinerfs report on the accounts Section A Independent Examiner's Rèport On accounts ft>r the year131 March 2024 1050254 (rf any) Set out on pag•s Respecuve Tr chafitys tr￿e8S are rE5[K)nsIb￿ for lh8 PTEparation of the accounts. respon5ibi14ties of The tharity's trustees cOn￿c￿r that an au(fft is not rwured for this year trustee5 and exarniner (mder sectM)n 144 of th8 charli￿ Act 2011 {th8 c￿rI￿S Ad} arKI that an to follow the procedures lavj thThn DireoiDns given by th• Charlty C￿nmISSIon (urvjer seciion 145(5){b) of Ihe Charities ACL and Basts of Ertdependent My examinatK>n wa5 Carn￿ out in acrunlano witt7 general DFrections givgn euminerf5 Statement by the Charity Commission. An examination Indu￿ a review of the rtems or di5cIosurn5 in Ihe acrDuntS, and seeking exp￿nat￿rtS the trustees concerning any 9Jth matiers. The pnxedures Undertak￿ do not provide all the eviderlce that Wou￿1 be reqU[[￿j in an authl and consequenty rK> opinion is given as to whether the accourts FYe5ent a In Styrbod: 19 January 2025 Name: ACCA OX2 OLW IER March 2012 Soction B Disclosuro Only complete rf the examiner needs to hyhfight material problems. Give here brief detalls of any Items that the examiner wishes to disclose. ER March 2012