Report and Accounts for the Year Ended 30th November 2024
Trustees -
Rev. PF Wilkinson - Chairman Mrs R Bane - Secretary Dr SM Carroll - Treasurer Mr J Coe Mr A Lowles Mr T Martin Mr JR Watts Mr J Welch
Registered Number - 1066381
Address - 43 Cressingham Road, Ashill, Thetford, Norfolk, IP25 7DG
Independent Examiner -
Matthew Sturman Lovewell Blake LLP Bankside 300, Peachman Way, Broadland Business Park, Norwich, NR7 0LB
Bankers - Barclays Bank Plc, Swaffham, Norfolk
Purpose of Trust - To provide and maintain premises for Christian worship and associated activities, Christian teaching, nurture and any activities compatible with the foregoing objectives. Investment Powers - The trustees may invest funds not immediately required in the name of any clearing bank and any trust corporation or any stockbroking company which is a member of the Stock Exchange (or any subsidiary company) as nominee for the trustees.
CORNERSTONE BUILDING TRUST
Independent examiner's report to the trustees of Cornerstone Building Trust
I report to the trustees on my examination of the accounts of Cornerstone Building Trust (the Trust) for the year ended 30 November 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
2 the accounts do not accord with those records; or
-
3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Matthew Sturman FCCA 03-Apr-25
Statement of Accounts
Income and Expenditure for the year ended 30th November 2024
| Note 2024 £ Income Voluntary income - donations and tax recovery a 2,890 Other income received b 1,957 Income from use of property c 20,290 Rental income for Stables/Income from use of property d 3,010 Interest received e 82 Total Incoming Resources 28,228 Outgoing resources Charitable Activities Premises costs The Well 2 (14,720) The Stables 2 (6,789) (21,509) Finance Charges - Interest (mortgage account) - Depreciation on Equipment @ 20% (1,853) Total Outgoing resources (23,362) Net Incoming/(Outgoing) Resources for the Year 4,866 Unrestricted Fund at 1st December 2023 1,015,311 Unrestricted Fund at 30th November 2024 1,020,177 Notes: a b c d e Dec-23 190.00 0.00 1265.00 - 20.13 Jan-24 210.00 0.00 2585.00 - 0.00 Feb-24 190.00 0.00 1265.00 - 0.00 Mar-24 200.00 0.00 1515.00 50.00 21.70 Apr-24 210.00 1765.06 1265.00 400.00 0.00 May-24 200.00 0.00 2585.00 400.00 0.00 Jun-24 190.00 0.00 1415.00 400.00 19.04 Jul-24 210.00 0.00 1415.00 - 0.00 Aug-24 200.00 191.88 1340.00 400.00 0.00 Sep-24 200.00 0.00 2660.00 400.00 20.64 Oct-24 700.00 0.00 1715.00 400.00 0.00 Nov-24 190.00 0.00 1265.00 560.00 0.00 Total 2890.00 1956.94 20290.00 3010.00 81.51 |
2023 £ 2,530 4,414 19,140 - 78 |
|---|---|
| 26,162 | |
| (34,070) (6,939) |
|
| (41,009) - (1,609) |
|
| (42,618) | |
| (16,456) 1,031,767 |
|
| 1,015,311 | |
| BALANCE SHEET AS AT 30 NOVEMBER 2024 2024 Note £ £ Fixed assets Land and Buildings 3 994,943 Furniture and Equipment 4 7,409 1,002,352 Current assets Debtors and prepayments 5 - Balances at bank 6 17,825 17,825 Current liabilities Other creditors 7 - Loans, mortgages (<1yr) 6 - - Long term liabilites Mortgage >1 year 6 - Total assets less current liabilities 1,020,177 Capital and Reserves Reserves b/fwd 1,015,311 Profit / (loss) for the year 4,866 Reserves c/fwd 1,020,177 |
BALANCE SHEET AS AT 30 NOVEMBER 2024 2024 Note £ £ Fixed assets Land and Buildings 3 994,943 Furniture and Equipment 4 7,409 1,002,352 Current assets Debtors and prepayments 5 - Balances at bank 6 17,825 17,825 Current liabilities Other creditors 7 - Loans, mortgages (<1yr) 6 - - Long term liabilites Mortgage >1 year 6 - Total assets less current liabilities 1,020,177 Capital and Reserves Reserves b/fwd 1,015,311 Profit / (loss) for the year 4,866 Reserves c/fwd 1,020,177 |
BALANCE SHEET AS AT 30 NOVEMBER 2024 2024 Note £ £ Fixed assets Land and Buildings 3 994,943 Furniture and Equipment 4 7,409 1,002,352 Current assets Debtors and prepayments 5 - Balances at bank 6 17,825 17,825 Current liabilities Other creditors 7 - Loans, mortgages (<1yr) 6 - - Long term liabilites Mortgage >1 year 6 - Total assets less current liabilities 1,020,177 Capital and Reserves Reserves b/fwd 1,015,311 Profit / (loss) for the year 4,866 Reserves c/fwd 1,020,177 |
£ £ 994,943 6,437 1,001,380 - 13,931 13,931 - - - - - 1,015,311 1,031,767 16,456 - 1,015,311 2023 |
£ £ 994,943 6,437 1,001,380 - 13,931 13,931 - - - - - 1,015,311 1,031,767 16,456 - 1,015,311 2023 |
|---|---|---|---|---|
| - 17,825 |
- 13,931 |
|||
| - - |
- - - |
|||
| - | ||||
| 1,020,177 | 1,015,311 | |||
| 1,015,311 4,866 |
1,031,767 16,456 - |
|||
| 1,020,177 | 1,015,311 |
Notes to the Financial Statements for the Year Ended 30 November 2024
1. Accounting Policies -
These accounts have been prepared under the historic cost convention and in accordance with applicable accounting standards and the Recommended Practice on Accounting by Charities.
2. Premises Costs -
| 2024 Well £ Heating/Lighting/wifi/TV licence 5,746.27 Water charges/septic tank 1,022.00 Insurance 2,952.56 Repairs and Servicing 2,317.06 Telephone 853.32 Cleaning/sundry costs 734.26 Caretaking 1,095.00 General rates - Furniture/Equipment/Carpets &c 0.00 - Mortgage payments - 14,720.47 3. Property- Cost 1-Dec-23 Additions in year 4. Furniture and Equipment- Cost 1-Dec-23 Additions in year Depreciation 1-Dec-23 Depreciation in year |
2024 Well £ 5,746.27 1,022.00 2,952.56 2,317.06 853.32 734.26 1,095.00 - 0.00 - - |
2024 £ 994,943.00 - |
2024 Stables £ 4,235.20 1,002.00 - 136.50 - - - 1,414.81 - - 6,788.51 |
2023 Well £ 13,036.47 650.00 2,796.74 14,262.32 737.12 878.92 1,708.00 - - - 34,069.57 2023 £ 994,943.00 - 994,943.00 2023 £ 51,616.19 - 51,616.19 43,569.62 1,609.00 45,178.62 6,437.57 |
2023 Stables £ 3,218.31 867.00 - 1,501.66 - - - 1,352.41 - - |
|---|---|---|---|---|---|
| 14,720.47 | 6,939.38 | ||||
| 994,943.00 | |||||
| 2024 £ 51,616.19 2,825.00 |
|||||
| 54,441.19 | |||||
| 45,178.62 1,853.00 |
|||||
| 47,031.62 | |||||
| 7,409.00 |
| Notes to the Financial Statements for Year Ended 30 November 2024 | Notes to the Financial Statements for Year Ended 30 November 2024 | Notes to the Financial Statements for Year Ended 30 November 2024 | (continued) | |
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| 5.Debtors | ||||
| Tax Refund due on Gift Aid donations | - | - | ||
| Prepayments | - | - | ||
| - | - | |||
| 6.Balances in bank on 30-Nov-2024 | Current a/c | 5,452.10 | 8,149.14 | |
| Saver a/c | 12,373.32 | 5,781.81 | ||
| Total | 17,825.42 | 13,930.95 | ||
| Mortgage a/c | - | - | ||
| 7.Creditors | ||||
| Premises costs | - | - | ||
| Accrued interest | - | - | ||
| - | - |