St Michael's Cornerstone Trust (Company Limited by Guarantee)
Report and Accounts
31 December 2022
Company Registration Number 4029533
Registered Charity Number 1085991
St Michael's Cornerstone Trust (Company Limited by Guarantee) Company Information
DIRECTORS AND TRUSTEES
Tony Solomon ( Chair) Revd M Turner ( Vice Chair) Jane Thomas Revd James White (Pioneer Minister) Cllr Colin Hay Revd Ashley Collishaw Mary Hellyer Candace Plouffe Russell Johnston
Secretary
Russell Johnston
Accountants
SkyBridge Accounting Limited 3 Fairview Court Cheltenham GL52 2EX
COMPANY NUMBER
4029533
CHARITY NUMBER
1085991
REGISTERED OFFICE
1 Severn Road Cheltenham Glos GL52 5QA
St Michael's Cornerstone Trust (Company Limited by Guarantee) Directors, Report. The directors and trustees present their report and accounts for the year ended 31 December 2022. The charity is constituted as a Ix)mpany limited by guarantee and is, thereft)re, governed by a memorandum and articles of association dated 16 May 1984. Trustees The trustees are: Tony Solomon - Chair Revd Martin Tumer- Vice Chair- Methodist Minister Jane Thomas James While - Pioneer Minister Cllr. Colin Hay Revd Ashley Collishaw - Priest in Charge, Sl Michaels Mary Hellyer Candace Plouffe Russell Johnston - Company Secreiary Objectives The objects of St Mich8el's Comerstone Trust are to promote any charitable purpose for the benefit of the inhabitants of the Parish of St Michael and surrounding parishes of Chellenham, and in particular, the relief of poverty, the advancement of education. the maintenance and improvement of public amenities and the provision of leisure facilities in the interest of social welfare. Vision, Mission and Values Founded on Christian principles. our Vision 8t St Michael's Comerstone Trust is.. To see God8 Love Tr8n8fonning our Community. Our Purpose is: To Love and SeNe our Communtyas Jesus W¢xrfd.
Our Values At the Cornerstone Centre we aspire to live out ourvalues- Integnty. To act in an honest and open way. treating each other with dignity and respect. 2. Inclusive.. To be open to all, accepting individuals as they are and providing a safe non judgemental environment. 3. Reliable.. To be dependable and always seeking to do what we say we will do. Compassionate.. To care, paying attention. listening with an open mind and offering empathetic support. 5. Joy in SgrvKe'. To be wam). generous. friendly and cheerful. 6. Impacttul.. To make a positive dtfferen¢e working alongside individuals and our community. About the Comerstone Cenlre The Cornerstone Centre is a vibrant community hub which is run by the community forthe community. We aim to provide a safe and supportive pla to be, lo make friends and leam new skills. We are open to everyone and have a particular focus on reaching vulnerable people on the margins of society., the eldedy, socially isolated. and those with additional physical and mental health needs. We promote education and skills reaching parents with babies and toddlers in the all-important early years, children at after-school homework dub. adult literacy, and creative expression through arts and crafts activities. We believe that local people are the experts on their communilies. We draw on their voices, knowledge and support to understand the issues impacting Ihe local community, and identify community strengths and assets that can be supported through future investment. A good example of this would be the Play Trail which provides individual parenting support leading to improved early years attainment outcomes. Example Outcomes The elderty.. reduced isolation through Café, Soup Lunch. Prize Bingo and other activities such as Mindsong a group for dementia sufferers and their carers. Improved physical and mental heah through advice, healthy fwd. fitness. access to financial support. Children and Young People: eady years education - social skills. leaming through play and music., School children engaging with education through the Homework Club., Young people accessing leisure and holiday activities- Grant supwrt reduong child poverty,. Less crime and antisocial behaviour - positive activities and sense of wmmunity-
People with a disabilty. accessible educational and social aclivities: reduced isolation through engagement with disability specific and general activities,. redUd menlal heallh issues as a result., increased self-confidence. social skills 2nd self-worth through volunteering.. improved employment skills and physical fitness leading to better health and mental health. FamIl.- Working age adults gaining employment skills through educational opportunities. Access to affordable clothing and other essentials through the charity shop and grant support for financial need. Review of 2022 Th8 BBC cam8 to film th8 COm8tone C8ntsv on two (Kcasions wlth pathlar focus on the Comerstone GuptJo8rd. our Gharity Shop and the f8d we are regislered 88 8 W8m? Space,. Not onty did wg make regional news but also national. This reccgnition says a great deal about how we are responding to peoples needs during this economic cnsis. Cornerstone h8s been there alongside the u)mmunity throughoLrt the pandemic. We believe being a stable and positive presence in peoples lives is a critical factor. During the pandemic, we were able to reach out to the whole community. and we are delighted to see many new faces regularty using Comerstone as a resuti. The Comerstone CupboardThe ecnnomic crisis has led to signrficant growth in the number of people regularly using the Cornerstone Cupboard. This much-needed service enables people to supplement their shopping. helping to make ends meet. Members pay £3.50 per week and can choose food to the value of c £15 as well as r1VIng free vegelables and loilelries. We are working collaboratively with a nelwork of F(KMI Banks and Pantries across Chellenham to help one another meet this important and growing need. The Comerstong Chaty shop has become so popular that il is now open five days a week. We are extremely grateful to the volunteers who have stepped up lo make this happen. Profits from the charity shop are shared with the local (x)mmunity particularty in helping people to meet their energy costs. Play Trail is growing in popularity with ten families now regulady involved. Play Trail supports children and parents in the early years with measurable developmental and educalional outcomes. During the year we have developed our relationships with a network of health visitors, midwives and social workers who are now referring clients to us. Homework Club. we are delighted to welcome and support around 20 young people each week as more parents recognise the value of their children catching up on lost education. We are grateful lo our volunteers. three of whom are ex teachers and one a teaching assistant. So81 Media James White. our Pioneer Minister. and Martin Tumer. Methodist Minister, have been reaching out on Fabook and YouTube with moming chats and helpful messages of encour2gem2nt. These sessions are groatly 2ppreci2ted, not only by local people but al80 from much further afield.. even as far as Brazil. A number of people have said how valuable they have found these early morning sessions and how it has helped them lo feel and slay connected. We now have over 600 followers on F8boOk and over 300 of those are acttve supporters Café Church. now meets twi a month with over 40 people regularfy attending. During the year James and the team were involved with a trial launch of'messy Church Goes Wild" appealing to young families who perhaps wouldn't othenvise go to church. The increasingly popular Holiday at Home series was held over two weeks in the summer an(J provided fun, food and entertainment for well over 100 people.
Our Team We are greatly appreciative of our staff team and volunteers who have shown amazing commitment, creativity, resilience and adaptability in helping Comerslone build back from Covid and become even more relevant and attractive to more people in our local community. l am personally grateful to our trustees for their wisdom, commrtment and encouragemenl in helping us to successfully steer our (x)urse through these uncharted waters. Sustainability The Cornerstone Centre relies entirely on the goodwill and generosity of a broad range of individuals, grant funders 2nd local org8ni58tions who support us so generously and open heartedly. We have been blessed and are grateful to so many organisations and individuals. As a result we have been able to significantly enhance our staff team with a new manager for the Cornerstone Cupboard, a leader for our Play Trail. as well as having a full-time Administration Coordinator 2nd Full time Centre Manager. Our Funders include., National Lottery Community Fund Souter Trust Life Development Fund Gloucestershire Funders Lennox Hannay Summerfield Charitable Trust Gloucestershire County Council Sylvanus Lysons St James Place Foundation CBC Health and Wellbeing fund Our thanks to Anthony OIN8r Consulbng formanyng our fvndrdising programm8. We have been delighted and humbled by the number of individuals who have supported our wo financially during this challenging year. It would inappropriate lo mention names here but our heartfelt thanks to each and every one of you. Accountants The Trust is thankful for the continued finanryal servi5 and professional support with the legal obligations associated with being a charity from Brian Gibb and the great team at SkyBridge Accounting Limited. All directors of the company are also trustees of the charity, and there are no other trustees. The Board has the power to appoint additional trustees as it considers fit to do so. This report was approved by the Board on 21st March 2023.
St Michael's Cornerstone Trust Independent Examiner's Report
Independent Examiner's report to the trustees of St Michael's Cornerstone Trust
I report to the trustees on my examination of the accounts of St Michael's Cornerstone Trust for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees (and also directors for the purposes of company law) you are respnsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having established that the accounts of the charity are not required to be auditied under Part 16 of the 2006 Act and are eligible for Independent Examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Acharities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believie that in, any material respect: the accounting records were not kept in respect of the charity as required by section 396 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements under section 396 of the 2006 Act 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; or
the accounts have not been prepared in accourdance with the Charities Sorp (FRS 102)
I have no concerns and have come across no other matters in connection with the examination which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Brian Gibb CA Chartered Accountant 3 Fairview Court Fairview Road
Cheltenham GL52 2EX
21 March 2023
St Michael's Cornerstone Trust (Company Limited by Guarantee) Statement of Financial Activities for the year ended 31 December 2022
| Notes | Unrestricted | Restricted | Designated | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| £ | £ | |||||
| INCOME & ENDOWMENTS | ||||||
| Grants, donations and legacies | 4 | 82,643 | 60,239 | - | 142,882 | 74,422 |
| Income from charitable activities | 5 | 18,274 | - | - | 18,274 | 4,608 |
| Income from investments | 121 | - | - | 121 | 6 | |
| TOTAL INCOME | 101,038 | 60,239 | - | 161,277 | 79,036 | |
| EXPENDITURE | ||||||
| Expenditure on charitable activities | 6 | 84,322 | 29,459 | - | 113,781 | 104,439 |
| TOTAL EXPENDITURE | 84,322 | 29,459 | - | 113,781 | 104,439 | |
| NET MOVEMENT IN FUNDS | 16,716 | 30,780 | - | 47,496 | (25,403) | |
| FUND BALANCES AT 1 January 2022 | - | 12,149 | 33,380 | 45,529 | 70,932 | |
| Transfer between funds | (6,620) | - | 6,620 | - | - | |
| FUND BALANCES AT 31 December 2022 | 12 | 10,096 | 42,929 | 40,000 | 93,025 | 45,529 |
Income resources and resulting net movement in funds each year arise from continuing operations.
St Michael's Cornerstone Trust (Company Limited by Guarantee) Balance Sheet as at 31 December 2022
| Notes | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| Fixed Assets | 9 | - | - |
| Current assets | |||
| Debtors | 10 | 2,885 | 402 |
| Cash at bank and in hand | 91,431 | 47,240 | |
| 94,316 | 47,642 | ||
| Creditors: amounts falling due | |||
| within one year | 11 | (1,291) | (2,113) |
| 93,025 | 45,529 | ||
| 93,025 | 45,529 | ||
| Funds | |||
| Unrestricted Funds | 10,096 | - | |
| Restricted Funds | 42,929 | 12,149 | |
| Designated Funds | 40,000 | 33,380 | |
| 12 | 93,025 | 45,529 |
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. 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
T Solomon Director
21 March 2023
St Michael's Cornerstone Trust (Company Limited by Guarantee) Notes to the Accounts for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102 (effective 1 January 2016) and FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) published by the Charities Commission in England & Wales (CCEW), effective January 2016. (The SORP).
Turnover
Voluntary income and donations are accounted for as received. Project and fundraising income is accounted for on an accruals basis.
Expenditure on management and administration of the charity
Administration expenditure includes all expenditure not directly related to the charitable activity or fundraising.
Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Equipment - 10% straight line
2 Designated Fund
£40.000 has been allocated by the Trustees to a Designated Fund to be held for the refurbishment project. This project is in the early stages of consideration
3 Legal status of charity
St Michael's Cornerstone Trust is a company limited by guarantee and, as such has no share capital.
| 4 | Grants, Donations and Legacies | 2022 | 2021 | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Designated | £ | £ | ||
| Donations and other income | 10,530 | 13,717 | - | 24,247 | 20,160 | |
| Care Shop income | 4,367 | 2,181 | - | 6,548 | 1,242 | |
| Grants | 67,746 | 44,341 | - | 112,087 | 53,020 | |
| 82,643 | 60,239 | - | 142,882 | 74,422 | ||
| Income from charitable | ||||||
| 5 | activities | Unrestricted | Restricted | Designated | 2022 | 2021 |
| Coffee bar | 4,407 | - | - | 4,407 | 2,523 | |
| Activities | 9,009 | - | - | 9,009 | 1,062 | |
| Rent of Hall | 4,858 | - | - | 4,858 | 1,023 | |
| 18,274 | - | - | 18,274 | 4,608 |
St Michael's Cornerstone Trust (Company Limited by Guarantee) Notes to the Accounts for the year ended 31 December 2022
| Expenditure on charitable | ||||||
|---|---|---|---|---|---|---|
| 6 | activites | Unrestricted | Restricted | Designated | 2022 | 2021 |
| Coffee bar | 1,743 | - | - | 1,743 | 1,413 | |
| Activity/Program costs | 4,369 | 18,793 | - | 23,162 | 26,434 | |
| Salaries | 42,683 | 8,528 | - | 51,211 | 48,225 | |
| Light and heat | 8,288 | 1,500 | - | 9,788 | 6,410 | |
| Telephone | 1,633 | - | - | 1,633 | 1,561 | |
| Water rates | 684 | - | - | 684 | 668 | |
| Rent | 100 | - | - | 100 | 100 | |
| Repairs | 12,441 | 311 | - | 12,752 | 8,620 | |
| General admin - Software | 460 | - | - | 460 | 334 | |
| Insurance | 1,797 | - | - | 1,797 | 1,832 | |
| Licence | 585 | - | - | 585 | 545 | |
| Printing,postage and stationary | 958 | - | - | 958 | 533 | |
| Care Shop distributions | 658 | 327 | - | 985 | 199 | |
| Refuse collection | 203 | - | - | 203 | 236 | |
| Staff Training & Welfare | 442 | - | - | 442 | 555 | |
| Travel and subsistence | 184 | - | - | 184 | 58 | |
| Cleaning | 1,477 | - | - | 1,477 | 1,201 | |
| Fundraising costs | 4,550 | - | - | 4,550 | 2,200 | |
| Advertising | 183 | - | - | 183 | 524 | |
| Depreciation | - | - | - | 1,412 | ||
| Sundries | 884 | - | - | 884 | 1,919 | |
| 84,322 | 29,459 | - | 113,781 | 104,979 | ||
| 7 | Operating profit | £ | £ | |||
| This is stated after charging: | ||||||
| Depreciation of owned fixed assets | - | 1,412 |
8 Taxation
The company, which is a registered charity, is not liable to taxation.
| Plant and | |||
|---|---|---|---|
| machinery | |||
| 9 | Tangible fixed assets | etc | |
| £ | |||
| Cost | |||
| At 1 January 2022 | 7,308 | ||
| At 31 December 2022 | 7,308 | ||
| Depreciation | |||
| At 1 January 2021 | 5,896 | ||
| Charge for the year | 1,412 | ||
| At 31 December 2022 | 7,308 | ||
| Net book value | |||
| At 31 December 2021 | - | ||
| **10 ** | Debtors | £ | £ |
| Other Debtors | 2,885 | 402 |
St Michael's Cornerstone Trust (Company Limited by Guarantee) Notes to the Accounts for the year ended 31 December 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| **11 ** | Creditors: amounts falling due within one year | £ | £ | |||
| Other creditors | 1,291 | 2,113 | ||||
| Unrestricted | **Restricted ** | Designated | 2022 | 2021 | ||
| **12 ** | Analysis of fund balances | £ | £ | £ | £ | |
| At 1 January | - | 12,149 | 33,380 | 45,529 | 70,932 | |
| Profit/ (Loss) for the year | 16,716 | 30,780 | - | 47,496 | (25,403) | |
| Transfer between funds | (6,620) | - | 6,620 | - | - | |
| At 31 December | 10,096 | 42,929 | 40,000 | 93,025 | 45,529 |
The charity aims to retain a reserve in unrestricted funds of up to six months of overhead expenses. At 31 December 2022 this equated to £38,755 which compares with the actual balance of £nil.
13 Staff Costs
| Staff Costs | £ | £ |
| Salaries | 51,211 | 48,225 |
| 51,211 | 48,225 |
During the year St Michael's Conerstone Trust employed two centre managers, a centre assistant and a cleaner.
No Trustees received either remuneration or expenses, other than direct reimbursement of money paid out, during the year (2021 £nil)
The Trust relies substantially on the time of volunteers to run its activities. It is not possible to quantify the value of these services to the Trust