Cornerst CHU orners hurc F025 Making disciples of Jesus Christ in Nottingham, all nations, and the next generation. I Cornerstone Church 2025 Annual Report Table of Contents Elders. Fleport Section l - Purposes & activities Objectives Aims Strategies Social investment & public benef it Section 2- Achlevements & performance Gathering Growing Giving Going io 12 14 16 Sertion 3- Flnance review General fund. unrestricted income General fund, unrestwicted expenditure Net resources Flestricted funds Re5Èrves policy 17 18 18 19 19 20 Section 4- Future plans 22 Section S - References & admlnlstratlve detalls 24 Section 6 - Stru¢turet governan¢è and managtm•nt Full staff strL+Cture 26 30 Section 7- Appendice5 Appendix A- Statement of trustees, responsibilities Appendix B - Auditor's Report 32 33 34 Annual Report 2025 Elders, Report dfrom whom all bl•ssln9s n above, ye heav'nly host,. raise ￿lm. all creatures here beioipJ* roise Èather, Son, and Holy Ghost. rfi This doxology is a f itting summary of our worship We are also thankful for those who have been during 2025. and our experience of the Lord's willing to serving as elders, both those who have provision for his people gathered together as just begun serving in this way, and those (such as Cornerstone Church, Nottingham. Joff Gribbinl who served as elders for many years, before passing the baton on to others. As well as the preaching series inspired by the words f rom this hymn, we have heard the Lord It has been signif icant to m3rk the retirements of speak to us through his powerful word in the Ctslin Webster Iministerl, M1ke Shouler IAccounts books of Mark, Philippians, Ecclesiastes, Acts, Assistantl and Elisabeth Simpson IDBS Managerl Isaiah. I Corinthians, Habakkuk and elsewhere. f rom their roles, and we thank them for thèir love and service. 2025 brought many joys and very deep sorrows in the life of our precious church family. especially in bereavement, and those affected by difficult circumstances around the globe. We continue to be upheld by the tenderness of our good shepherd. We look forward to the certain future that gives us our vision, that 'the earth will be filled with the knowledge of the Lord, as the waters cover the sea., RCH It has been another year of ongoing growth and f ruitfulness. accompanied by significant chan9eS. We've shared how the biblical metaphor of a vine and a trellis helps us to understand how the supporting structures need to alter for a vine to continue to grow and produce fruit into the future. We began the year with a day of prayer and Conscious of the opportunities and challenges fasting for the new staff appointments that we that the coming years will present, including the were hoping to make in 2025, and the Lord finances that sustain so much ministry and answered those prayers with wonderful mission, we trust the Lord to providè according to generoslty. our needs. and to give us shared wisdom and discerr)ment as we make plans and decisions with great care. God provided David Upton and Eric Duong to serve as mlnisters, and Felicity Sculllor) to serve as Director of Operations. We are delighted with the Please do read through this annual report, we way that they are each settling into their roles, all trust that you will f ind the new style bringing both change and contiiiuity. The communicates more helpfully thè ways in which changes to the structure of the staff team have the Lord is working through his people at brought a more sustainable approach, f itting for Cornèrstone Church. the size of church we are now. and allowing for growth at Cornerstone and future church plants. Praise God f rom whom all blessings flowl John Russell, Lead Minister, on behalf of the elders of Cornerstone Church Section I Purposes & activit es OUR VISION OUR MISSION OAC JESU CHRIS VEry Annual Report 2025 Objectives To advance the Christian faith in accordance with the Basis of Faith in such ways and in such parts of the United Kingdom or the world as the trustees f rom time to time may think To relieve sickness and f inancial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as trustees f rom time totime maythink fit., and For the earth will be f illed with the knowledge of the Lord as the waters cover the sea. To advance education in such ways and in such parts of the United Kingdom or the world as the trustees f rom time to time may think Isaiah 11.9 In working towards the objectives above. the trustees have considered the Charity Commission's guidanee on public benefit and have worked towards making Cornerstone as accessible as possible to all the community. The trustees conflrm that they have Complied with their duties under Section 17151 of the 2011 Charities Act with regard to public benef it. Aims Our Vlslon The earth will be f illed with the knowledge of the Lord as the waters cover the sea. Our Mission Making disciples of Jesus Christ in Nottingham, all nations and the next generation. Our Values The word of God The mission of God The The The people worship grace of God of God of God Purposes & activities Strategies None of the activity undertaken to further these aims would be possible without the Cornerstone membership who are committed to volunteering their time, expertise and giving f inancially to help resource activities connected to our four strategies.. OUR APPROACH Gatherlng We gather for Sunday worship at 9'.15am, 11'.15am, and 7pm. which equips and inspires us as we scatter throughout the city and beyond in the week, worshipping God our homes, communities, workplaces, schools, clubs, and every aspect of our lives. Growing We are experiencing numerical growth, and we pray for ongoing growth in spiritual depth and mèturity putting down deeper roots, for stronger branches. Raising new leaders through our Ministry Development Scheme and other initiatives is essential to Sustain and support existing and future growth. We want to continue to plant new churches and revitalise existing churches as the Lord leads us. Giving Our God is a generous God and calls us to be a genèrous people. We aim to be generous in the use of our facilities as we partner with organisations who use our building for events that have an impact beyond the Cornerstone congregation. We want to continue to plant new churches and revitalise existing churches as the Lord leads us. Going A key part of Cornerstone's aim is to take the news of the gospel to all nations, both through ministering to those who have come to Nottingham from other parts of the world, and through our international workers who are commissioned by Cornerstone to serve the Lord overseas. Annual Report 2025 Social investment & public benef it Tots & Toys Tots & Toys is a weekly toddler group for parents and carers in the area. This year it's been encouraging to see this group Continue to grow as families come to receive a warm welcome, One of the key components of Cornerstone's friendly conversation, a safe and fun space to mission is to reach out to the city of Nottingham play, interactive singing, great cake, and with the news of the gospèl. With this in mind wè toddler-f riendly. Jesus.centred Bible story. want to utilise the events of the church calendar, Christmas, Easter and Harvest to run programme of events to reach out to the local ¢ommunity. Evènts like our Kids, Carols Service at Christmas or our Good Friday experience at Easter are specifically designed to be welcoming Of the families who come to Tots & Toys not and give those who might come from the area a having previously been to church, we estimate chance to experience church for themselves. that IO% go on to engage with another church We also intentionally partner with thè nearby activity, perhaps attending a carol service or Grace Church to support their food bank and bringing older children to our summer holiday Family Foundations with regular donations club. throughout the year and with gifts at Christmas School Holiday Lunch Club time for those who attend their midweek service. a service designed around those attending f rom We are entering the third year of running OLJr the food bank. School Holiday Lunch Club Irun in collaboration with Transforming Lives For Goodl Every Cornerstone also run a number of activities Wednesday of each school holiday we provide a throughout the week specifically aimed at range of crafts and games for children., feed supporting and engaging those thrtsughoLJt the around 35 guèsts,. and sèek to share some gospel city.. hope and signpost people to other appropriate events in the church. A key function of this group is to serve parents and carers of young children in what can be an isolating time of life and provide an introduction to those In the area of the chur¢h community. Learn English Cornerstone English class has been delivering English classes to the Nottingham non-English speaking communlty faithfully this year. We have four classes led by a team of volunteers and helpers. We are in the second year of offering a conversation cafe where more able students have guided conversations. Since September 2025 English class has had 70-90 people each week and we have started to see the number of nationalities represented grow. great encouragement week by week is our optional Around 40% of the children who attend are not 'English Extra, class. This takes the form of a short part of OUT regular church family.. their parents Bible study in English and about 30 people stay and carers are provided with a valuable point of each week to engage with Scripture. contact during thè summer holidays and the children have the chance to hear the story of Jesus. The wonderful team of around 20 people enjoy using their various gifts and are much encouraged by the warm relationships we have with our regular families. Holiday Club Cornerstone runs a holiday club for a week every summer which is open to all and provides valuable activity for those in the community who f ind the holiday5 particularly challengiT)g. Convtrsatlon Club Another important aspect of this ministry is the way in which it encourages intergenerational collaboration. The volunteer5 who help to Tun the week range in age from teenagèrs to those In their 70s. All ages have the chance to work together and also to model to the children who attend relationships between different age groups. Class Tots and Toys has been a really positive part of my week as a mum. It's become a regular part of our routine that both the kids and I look forward to. It's also the kind of place where it doesn't matter if you're tired, or not quite on form - you can just turn up? have a cup of tea and some cake, and feel at ease. It's a good space to connect with others at a similar stage of life, and to share a bit of the reality of parenting - the good and the hard. It's easy to invite f riends alongtr as it's a welcomrng environment and it'5 clear that new people are noticed and spoken to." Regular Tots 8 Toys attendee •• ** Sec ' Achieve One particularly encouraging story is of a young person who first came along simply because a friend invited them. Over time. they encountered Jesus for themselves, came to faith, and have since gone on to thrive at university growing in conf idence, conviction, and love for the Lord. It's been a delight to see them now exploring opportunities •ll for church internships, while serving in the youth ministry at their university church. It's a joy to see them wanting to serve and invest in others as they've been invested in. Achievements & performance ii Gathering Students Student ministry has changed a lot in the last year at Cornerstone. This year the group which used to meet in the evening made the switch to a lunchtime Bible study responding to current trends among Gen Z indicating les5 appetite for evening mèeting5. The newly named Student Bibbe Study regularly gets over 40 students f rom an increasingly diverse pool, and we continue to think through how we disciple and witness to our next generation of One of the ways wè achievè this is through our students well. Many students remain involved in smaller group gatherings, both those that are their Christian Unions. bearing responsibility on the open to all our attendees and are geographically committee5 and séeking to make Jesus known on spread throughout the city and those that are campus, as well as serving in the life of our church. designed to equip and minister to those at specif ic life stage. On a typical Sunday in 2025 we Saw on average 850 people gather across our three services and estimate that there are around 2,000 adults and children who are part of the church. It's been encouraging to see this average number increase over this year but our aim is not just for numerical growth but also for ongoing growth in spiritual depth and maturity. Twenties and Thirties The 20s and 30s ministry has continued to be a welcoming and supportive community for those in We aim for the children who come to Cornerstone the early stages of adult life. Over the past season, (whether on a Sunday or as part of a midweek there has been a real focus on helpin9 new peoplè group) to feel loved and valued and for them to feel at horne, building connections, and fi'nding grow in their understanding of Jesus and His word. their place within the wider church family. Our children meet together in their age groups As the rninistry grows, there is also a developing every Sunday and we run a youth group called vision to support people more deeply in their 'Ignite' on a Friday night for school yéars 3-6. discipleship, encouraging 205 and 30s not just to Throughout the week across these groups we belong, but to flourish and grow in their Christian intéract with 200-2SO children laged 0-111. This year lives. it has been encouraging to seè how many of our children are pro-active in inviting their friends to come along to events. As an example our Ignite Christmas pèrty had a third more children than would typicallycomeweek byweek. Children Fruitful Faith Fruitful Faith, our group for the retirement generation, continues to meet once per mor)th for fellowship and mutual encouragement. Our gatherings are always very sociable but the more formal component of each gathering ranges f rom interviews with new staff mernbers, overseas workers or leaders of key ministries, to themed quizzes and book reviews. The Christmas dinner here at the church building was a resounding success with thanks to Sarah Marvin, Ollie Watkins and OLJr internsl Youth We're also committed to OLJr groups that allow a mix of generations to interact and minister to one another, the primary means of this is through our weekly Connect Groups.. On Friday evenings we're now ￿gUlarlY welcoming around 80 young people, a real testament to God's kindness and the hunger among this generation to gather and hear the good news of Jesus. We're especially thankful to see many not just attending. Connect Groups but actively seNing across church life f rom crèche We currently have 24 Connect Groups and have the and children's mit)istry to tech and the music team. need for morel Our rate of new leaders is our There's a growing sense that this is their church too, limiting factor and we want to work on how WÈ can not just somewhere they come along to with their help with this in 2026. family. 12 Annual Report 2025 Finally, throughout the year we also ran courses designed to equip and minister to people at either specific stage in their journey to faith. or at particul8r point In life. In 2025 these included.. Growing A key way in which we as a church sustain and support our existing and future growth is by identifying and training new leader5 Beyond the needs of Cornerstone alone we have a vision that we train leaders who will go on and play signif icant roles in other churches in the UK and further af ield. Curious Co*Jrse A course which is open to all and specifically designed to help those exploring the Christian faith. We have been encouraged to continue to see engagement with this course and in the last year there have been five people who when being baptised cited thèir time at Curious as a part of their conversion story. Ministry Development Scheme IMDSI Our MDS is a key way in which we seek to develop new leaders and our prayer is that this scheme will Grièf Gathèring be a significant investment in the future of A new initlative this year was the Grief Gathering. A Cornerstone but also the wider church locally and 7 week course designed by Biblical CoLJnselling UK globally. and run by a team of trained leaders within our congregation. it aims to help people explore their The 3-4year training rolè includes.. experier)¢e of grlef f rom a biblical perspective. Training on the Cr05slands Seminary Course The feedback from the Grief Gathering was Developing teaching, evangellsm and mlssional overwhelmingly positive. One comment included.. gifts Fiesponsibilities within ministries in the church Developing leadership ar)d pasioral responsibilities In 2025 we had thiee Ministry Workers on the MDS on our staff team. with one finishing the scheme in August and becoming a minister and elder here at Cornerstone. It was special to be cared for and care for one another. l am more able to pray from out of my grief. I can see more clearly Christ's heart for the grieving." We continue to be encouraged by those on the scheme and are actively looking for ways in which we can make this more sustainable and able to scale for the years to come. Grièf Gathering Attendèe Internship Scheme Our internship remains a wonderful way to offer practical and theological training, a5 well as spiritual formation, to a small team who get to play a key part in various ministries across our church. As a church we also get to benefit hugely f rom having a team of interns who support our regular ministries. This year we are enjoying having 5 interns who. between them, support children's and youth ministry, home and international student ministry. They also support midweek ministries such as Women of the Word, Learn English and School Holiday Lunch Club, as well as helping us meet our commitment to support the work of CrossTeach in schools. One member of the leadership team who visited one of the sessions observed that thè "warm welcoming environment created by the team was conducive to people opening up - which was hea￿Y but quite bèautiful., The dedlcated team who ran this f irst course have committed to running it again in 2026. A number of our current Interns are exploring whether to ¢tsntinue on into further training for full- time ministry. Achievements & performance 13 &11'ir Ptoyfrr & pttti£• pvenjng Emerglng Leaders We don't just wènt to commit to training and developing leaders f rom within the staff team. As the number of people attending Cornerstone continues to grow, so doe5 our need for leaders across various ministiies. This creates an urgent need to equip and develop people for these roles. Ten members took part in the Emerging Leaders programme of five sessions throughout 2024n5. Those on thè course have been involved in a number of leadership roles including international and home students, international women'5 group, children and youth work. Being part of the MDS has been hugely formative for me. I've been able to grow in teaching the Bible, leading volunteer teams, and thinking more strategically about youth and kids, ministry- all while being supported by a really encouraging and nurturing church family." Ilie Smallwood, Ministry Worker on the Ministry Development Scheme 2023-2026 Nèw èlders Cornerstone is incredibly grateful to the men who give a signif icant proportion of their timè to servè on the church &lder5hip. This year we have been delighted and encouraged by the additions of foul new elders.. Edward Lai (appointed S" lunl l am very thankful for the internship for giving me an opportunity to grow in service of the Lord and for his people. I was impacted by the wonderful staff team who encouraged and supported me in my walk with the Lord and helped me to develop in my emotional and spiritual maturity." Rob Radcliffe (appointed S" Junl Eric Duong (appointed I" Augl Beka 81ake. Intern 2023-2025 David Upton lappointed I" Augl 14 Annual Report 2025 Volunteers We have been excited by the opportunity to As a church we are completely dependent on our partner with these other charities and many have volunteers who tIrele￿lY give sacrificially of their expressed their thanks and recoonition that the time to help support all of our ministry activities. use of our facilities have enabled events on a We're incredibly grateful for the many, many greater scale than would otheTwSse be possible. volunteers who serve on Sunday, within the week. in Financially, we remain committed to our ministry and in our off ice. All the activity detailed Chr1stmas appeal. This is an opportunity for us within this report would be impossible without collectively as a church to show compassion for them. the poor and the vulnerable through raising From time to time we also run a Voluntary Associate money for charities who serve in our city and scheme when the right person is identif led who has beyond, offering practical, emotional and spiritual the gifts and capacity to offer some focused time help to people who f ind themselves in need. helping to develop or progress an area of chLJrch life. So far, in 2025 we have raised £7.057. The appeal This year we have been blessed to have Janey closes at the end of February 2026. at which point Shipway join our staff team as a Voluntary ￿SoCiate it will be evenly distributed amongst the with a particular focus on Fruitful Faith and pastoral following charities.. care. Cornerstone commits to funding any relevant training for our Voluntary As50ciate5 and Janey is Open Homes bèir)g funded to study with BCUK. Safe Families and Home for Good Jericho Road Project Together for the Family Moldovar) Mission Giving We are aware of the blessing that it is to have our own facilities wlth a large capacity. We aim to be generous with this resource in sharing parts of it, or the whole of it, with other organisations and charities who aligr¥ with some aspect of our overall vision. In addition to our Christmas appeal Cornerstone have a number of home mission commitments. Organisations where Cornerstone's support is beyond the f inancial.. CrossTeach CrossTeach is another example of a partnership where our support goes beyond the financial. We regularly support their weekly clubs or seasonal events by utilising our interns to volunteer. It is a joy to partner with them. Over the last year we have h05ted 27 èxternal events and been pleased to accommodate.. Jericho Road Project Living Leadership Midlands Gospel Partnership Safe Families and Home for Good Evangelical Alliance Scripture Union camp- Ka'zoo Keswick Ministries Colin Buchanan Friends International Teèn Challenge We are so grateful for our partnership with the church family at Cornerstone Church! We rely on the generosity of churches and individuals for our work to teach about the Christian faith in schools to be possible. We are grateful for the help of volunteers in weékly- clubs and seasonal experiences, for your prayers for this work, and for your generous financial support., Jess Cobbett, CrossTeach Nottingham Schools Worker Coll etirement Cele#rcTtion 16 Annual Report 2025 Earlesfleld Cornmunlty Church In addition to financial support we continue to set aside a day each year to take our team of interns to Earlesfield Community Church where Daniel and Grace Howson host us and give us an insight into what it look5 like to lead a church in a context very different to our own here. For some intern5 therè is a further Opportunity to visit again and engage in ministry. Daniel and Grace say that this regular connection with Cornerstone is an encoLiragement to them and it certainly is to us. r. WT Nottingham Chr15tian unions Cornerstone also continues to support the Christian Unions at both universities in Nottingham. Again, this support is both financial but also practical in relation to sending members of our staff team to help equip the students who attend with biblical teaching. In my role as International Student and Internationals Intern, I feel that we have strengthened the link between the staff team and ministries like Friends International with Globe Cafe, and with Julie and Helen at Learn English. Within Sunday's Student Bible Study, I've also been able to give time and planning to our evangelistic explore group. and think more widely about how we include our international students in what has previously been a ministry widely attended by local students. Going A key part of Cornerstone's aim is to take thè news of the gospel to all nations and to do that we have a number of international workers currently serving in other parts of the world. We also recognise that we are an international church and there are over 20 countries represented on our Sunday mornings. How we make the most of this opportunity has been something we have been considerir)g this year, and we have been greatly helped in having Abi Kennedy, an intern for whom this is a specific purpose. International Workers We currently have 22 international workers serving in various locations all across the globe. In 2025 we've been grateful to start supportir)g one couple as they began sèrving the Lord in Nepal, working to help the poor and disadvantaged experience fulness of life. Our support of the Bullock family also Globe Café continues to welcome international changed as we welcomed the family back to students f rom all over the world, lincluding "closed Nottingham and our support shifted towards Ruth countrbes 11 to our international cafe on Jubilee S she continued her work with OM remotely. Campus. Every week we have a themed activity, We're alway5 thankful for the partnership in the discussion time, and an optional bible study for gospel that we Share with the international vmrkers those interested in the Christian faith. we send and support. We aim to uphold them We've been encouraged by our ever-growing team. prayerfully, pastorally and practically. Despite geo- benefitting f rom the gift5 and skills f rom a variety of political turbulence, this year we thank God for the volunteers. We've been encouraged an new works started and also the established increasingly diverse range of students attending. ministries continued in Europe, Af rica, Asia and but we continue to look to discern how to run our Oceania. bible studies effectively, as numbers are variable. Abi Kennedy. Intern 2025-2026 Globe Café ection-3.. Finance review Stoff Teom Meeting 18 Annual Report 2025 General Fund, unrestricted income Incomt from events In 2025 the income from events was.. £34,774. This is income f rom events that have had a charge to participants for participation. These are predominately ministry events that have a cost associated with them that the church has decided either to not fund, or to partially fund. Our CLJrrent strategic priorities mean that these activities are intended to be ministry-enabling and not a net source of Income for the church and consequently the aim is always that the orresponding events Èxpenditure is of a similar amount. Donations and charitablè giving The church's main source of sustainable income Is in the form of donations and charitable giving from member5 and other regular attendees, including Gift Aid tax on a lot of these donations. This accounts for 96% of the church's total income. The remainder comes from bank interest. investments and income f rom events. This year whilst our regular charitable giving (including Gift Aid contributions) rose by 3%, our one-off donations and giving to the Ministry Development Scheme IMDSI Fund, which is General Fund, largely comprised of one-off gifts fell by 47% unrestricted expenditure between 2024 and 2025. Combined these factors meant that our overall income dropped by 4.8% f rom £1,099,021 in 2024 to £1,046,698 In 2025. The total expenditure on charitable activities léxcluding events expenditure) of £1,191,484 is a 7.2% increase on 2024. Of this amount £103,523 was on the MDS, necessitating £39.459 from The elders/trLJStees have no restriction on their general unrestricted income to supplèment the investment powèrs subject to the approval of the £60,864 given to the MDS Fund and the £3,200 church. carried over from 2024. in order to cover its expenses. Investments General Fund In¢ome and Expenditure £1.2m £lm £47 £0.8m £0.6m £0.4m £0.2m £0 11111 2021 2022 2023 2024 2025 Regular giving One-off gifts MDS incorne •Core expenditure MDS expenditure Finance review 19 Breakdown of 2025 Expendlture International student mlnlstry Staffing 583% Equipment Home mission Operational costs Ministry costs Ministry staff Building Cogts 703% Total expenditure £1,191,484 Overseas mission 12.8% Operations staff 16.6% iainlng sta Net resources Buildlng Fund Since 2004, the church has been running a fund Net resources (the difference between 'for premises to house the ministries of the unrestricted income and outgoingsl for the church.. its outreach, it5 teaching and its general fund for this period are -£126,371 giving fellowship, with the stipulation that 'Gifts made to total general funds at the year end of £290.321 thi5 fund will be used for". acquiring, running, (£416,692 at the end of 20241. furnishing and maintaining a property to house There are no material funds in overall def icit at the rninistries and worship of Cornerstone Church the year end. Whilst the MDS Fund ended the and any other costs associatèd with building, year with a shortfall in relation to income vs. renting. occupying and using such a property. expenditure these costs were covered by the Many members and regular attendees of the unrestricted income in the General Fund. church are committed to regular giving to the Building Fund as well as their tithe to the General Fund. The church also receive5 one off gifts for Flestrictèd funds arè funds recèivéd by the church the Building Fund. for specific purposes formally adopted by the The total income to the Building Fund was church elders. They are usually for specific £84.971. This income is used to pay for the capital irsternational or home mission workers, the and interest on the mortgage which stood at annual Christmas appeal, the Buildlng Fund or £487.9S6 at the ènd of the year. the MDS. Gift Aid tax reclaimed on restricted funds is included in the total for that fund. Restricted funds 20 Annual Report 2025 Christmas Appeal Ministry Development Scheme Fund Christmas 202412025: In March 2025 gifts and the A fund supporting the training of church leaders recovered gift aid tax totalling £64,024 we¥e for the future. This year the fund had an income disbursed equally to the following organisations.. of £60,864 and expenses of £103,523 covering the employment costs and training and development of three trainees from January to JLJIY and two trainees f rom August to December. Together for the Family - working with Syrian refugees in Lebanon. Safe Families and Home for Good - Offering hope. belonging and support to children, families and care leavers. Jericho Road Project - Bringing hope and restoration to marginalised women in Nottingham Open Homes- Sheltering and supporting homeless young people Friends of Mandritsara Supporting the Good News Hospital in Madagascar Christmas 202512026.. Gifts of £7,057 have been received up to December 2025. The fund will be open until the end of February 2026 when the total amount will distributed evenly between.. Reserves policy The church's policy is to maintain 2-3 months, cash reserves equivalent to £199,000 to £29B,000. The unrestricted rèsèrve assets at the year end amount to £290,321. This year we have again seen our Father's faithful provision through the generous giving of his people. We are so thankful for every gift given in the support of our ministry here in Nottingham and to the nations- we recognise these gifts are sacrif icially given and we are very gTatef ul. Together for the Family - working with Syrian refugees in Lebanon. Safe Families and Home for Good - Offering hope, belonging and support to children, families and care leavers. Jericho Road Project - Bringing hope and restoration to marginalised women in Nottingham Open Homes - Sheltering and supporting homeless yourTrg people Moldovan Mission - Strengthening and supporting gospel churches in Moldova. Money f rom our Christmas Appeal will support thèir Winter Aid fund, which provides aid packets for families in need. Lead Minister John A)ussell registered u conflict of interest reluting to Sofe Families ond Home for Good due to the employment of o close fomily member. He removed himself from all decisions ond dlscussions Concerning the SLJpport of the chority. lark Collins. Elder Ji.d(T to lif l(t ou( rY)vre ahJOUt the charities WE SJI pported ihis year Studen-, Stu s&c y&e plans . IT Future plans Future plans 2025 has been a period of substantial change for Cornerstone with several staff changes and changes to the way in which our staff team is internally structured In 2026 our aim is to continue to embed this change as we look to build structures and processes that will help Cornerstone to thrive in the years to ctsme. A5 John has shared in the Elders, Report, an image we have been returning to as we think and communicate about the planned future changes is that of a trellis and a vine and the need to strengthen our trellis to support a growing vine. Systems & process changes A lot of that strèngthening of the trellis over the coming year looks at evaluating and chènging thè systems and structures that underpin us, in order that we can sustain the growth of the church for years to Come. The growth in the congregation that Cornerstone has experienced over the last several Training roles years has shown Ihat systems that were suff icient A5 has been reflected throughout this report, when the church had several hundred attendees Cornerstone remains committed to our training are not robust enough now the numbers on a roles in the shape of the MDS and the Internship. Sunday are closer to 1000. 2026 will include Part of the way our commitment to this is worked updating the systems and processes associated out in 2026 is conducting an evaluation of the with our.. f inances, communication, pastoral care internship and how we can utilise it best in the and volunteer management. future. In relation to our MOS we want to ensure we are building 5UStainability into its funding model so that we can be conf ident in our future recruitment The growth in our Sunday congregations has been and have the agility to move at speed that will allow encouraging and 3150 comes with the challenge of us to Supply not just Cornerstone's future leaders, our Sunday gatherings growing ever busier and but lèader'5 for the wider church both in the UK and ever more complex. Wè are planning the overseas. reciuitment of a Logistics and Facilities manager who will help us to ensure that the logistics of our Sunday gatherings run efficiently with clèar communication to staff and volLJnteers. New staff roles Financlal sustainability The church ends 202S with a greater deficit than was forecast and part of our plans for 2026 will be to embark on a strategy of communication and engagement with both our members and the wider congregation. Whilst still comfortably within our serves policy recognise the level of expenditure can not be sustained with income at its current level for another year. The elders will take time in 2026 to consider where in all of A5 the size of our congregation grows so daes the CornersLone's plans there can be spending pauses number of youth attending on both Sundays and until such a point as income increases. The elders Friday nights. As such we are planning the have considered a number of possible scenarios for appointment of a Ministry Worker to work the end of 2026 and will take dectsions throughout specif ically with our 11-18s. providing strategic the year so that we end the year within our reserves leadership to a key ministry area. FX)li¢ies. As our building age5 the expenses associated with its upkeep become more significant and the post- holder for this role will also have responsibility foi ensuring we have regular programme of maintenance in place and can foreca￿ upcoming large spends. Section 5 References & administrative details Staff teom me&ting References & administrative detai15 25 References & administrative details Name of organisation Cornerstone Evangelical Church Other relevant organisations or persons Banks Co-operative Bank, 4-5 Exchange Walk, Nottingham, NGI 2NX Barclays Bank PLC, Leicester. LE87 28B Loughborough Building Society Kingdom Bank Senior Statutory Auditor James Liptrott, TC Group, 10 Stadium Business Court, Millennium Way, DE248HP Soll¢itor Ellis-Fermor and Negus, 2 Devonshire Avenue, Nottingham, P4G9 IBS Charlty & ¢ompany registration numbers Charity number.. 1128533 Company number.. 06805205 lincorporated in England and W8lesl Address of main off ice Cornerstone Church, 90 Castle Boulevard, Nottingham. NG71FP Names of elders Itrustees/directorsl Mark Collins Paul Couchman David Devadason Suen Win Eric Duong Appointed 01108125 Thoma5 Gribbin Benjamin Kennedy Edward Yuen Shing Lai Appointed 05106125 Stèphen Miller Robert Radcliffe Davld Upton Appointed 05106Q5 Appointed 0I108f25 Name5 Of elders {trusteesldirectors1 in office during the year John Russell Jonathan Gribbin Colin Webster Resigned 3V01125 riesigned 30107125 Senior leadership of thè charity Company Secretary & Directorofoperations Lead Director of Ministry Spencer Hampton Felicity Scullion Appointed ii108125 Kathryn Jackson Appointeol 21hi125 Se ve and manage Sundrjy Service Structure, governance and management 27 Structure, governance and management Constitutlon Pollcles & procedures for the Induction and The church was constituted under the Fellowship of training of trustees leldersl Independent Evangelical Churches IFIECI Model All new trustees must be Checked with the Trust Deed No. I declared in 1984 with subsèquent Disclosure and Barring Service IDBSI. Nèw trustees amendments at church members, meetir)gs in will receive.. October 1987, March 1989, May 1991, October 1998, February 2002 and March 2006. A copy of the previous year's Trustees, Report and Financial Statements A copy ofthe Memorandum and Articles of Association Copies of previous trLJ5tees' meeting minutes A copy of the current year's fir)ancial forecast or budget Charity Commission CC3-The Essential Trustee.. What you need to know Charity Commission CC60- The hallmarks of an Efféctive Charity Copies of all the current up-to-date policies A Charitable Company Limited by Guarantee was adopted for Cornerstone Evangelica1 Church and incorporated at Companies House on 29, January 2009, Company Number 06805205. This was in place of the trust-based structure and prèserves thè constitution wherever possibl&. Cornerstone Evangelical Church was entered in the Central Register of Charities on 12" March 2009, Fiegistration Number 1128533. On 31" March 2009 the assets of the charitable trust were transferred to the new company. All new trustees will be required to attend a Cornerstone safeguarding training course. Method adopted for recruitment and appointment of new trustees leldèrsl Proposals for the appointment of members as trustees may be made in writing to the trustees and shall be signed by not less than two full members and the trustees shall duly consider such proposals. Charity networks Cornerstone Church is an independent organisation and is not part of any wider netrooork. A550¢1ated ¢harltles The church is a member of the Fellowship of Independent Evangelical Churches IFIECI, the Evangelical Alliance (EA) and the Midlands Gospel Partnership IMGPI. All future trustees are to be appointed following.. a r￿OlUtIon of the trustees recommending a member who meets the requirements below.. the approval of the proposed trustee by a vote of two-thirds of the members in General Meeting present and voting.. and conf irmation of the new trustee's consent to hold off ice and assent and consent to the Trustees, Confession of Faith and the completion by the new trustee of the necessary Companies House paperwork. Affiliated to fiec. > Iht Fellowship o, Indepon4tnt C¥aryllcal CMrches rnembpr of The trustees (who are also directors for the purposes of company lawl shall consist of not more than twelve members and not less than six (these numbers include ministerb and assistant ministerlsl who are men of twenty-five years of age or over, each having been a Christian for not less than f ive years and having been baptised on profession of faith in Christ and having been a member of the church for not less than two years. tTotal immersion is the preferred and usual method of baptism though exceptional circumstance5 may bè taken intc) accountl. All trustees must be members. All trustees must subscribe and adhere to, in belief and lifestyle, the Trustees, Confession of Faith. evangellcal alllance MIDLANDS 'GOSPEL PARTNERSHIP 28 Annual Report 2025 Organisational Structur• at year ond Risk Management Committee.. This committee has Full and Associate Members.. The church depends delegated rèsponsibility from the eldership for on every member's active involvement in the life of oversight of the management of risk across all the church. The church must hold at least three spects of the church's ministry and operations. It general meetin95 in every year, to conduct the comprises Elder Paul Couchman, the Director of affairs of the church, which all full and associate Operations and 3 risk professionals from the members are entitled to attend. One of these must membership. The committee submits a report to be the AGM, which shall be held between Ist the elders at least once per year and regularly January and 30th April in every year. At an AGM, the meet5 to review the church's risk register which members receive and approve the accounts of the holds details of risks. controls and mitigation plans. chLJrch for the previou5 financial year Iwhich shall The highest risks to which the church is exposed are be independentty audited). receive the Trustees, considered to be.. Report on the church's activities during the Having insufficient finances to meet expenditure precedlng 12 month period, appoint auditors for the ¢ommitments church lif necessary), and discuss and determine Inadequate leadership capability to provide any issues of policy tsr deal with any other business appropriate oversight of the church put before them. At the end of 2025. the church had L05s of a key member of staff 380 full members. and l associate member. Building being unavailable for use by the church Eldership (who are also tru5tee5 and directors).. The Public Scandal causing damage to effectiveness church is led by the elders. and those serving during of the church's ministry thè year are ljsted earlier in the report. They are the Safeguarding Committee= This tearn has delegated only committee required under the 14emorandum responsibility from the eldership for oversight of the and Articles of Association and take strategic church's safeguarding polices and processes. It decisions conceTning the organisation. They meet comprises of Lead Minister John Russell, Elder Mark every other week and are joined in their meetings Collin5, the Director of Operations, staff team by the Director of Operatior15 and the Lead Director members who lead pastoral care and ministry to of Ministry to provide relevant context and Cornerstones under 18s and four safeguarding information to help inform decisions. profèssionals from thé church mèmbership. This Church Staff Team.. They meet every Tuesday committee submits a report to the elders at least morning to review performance, to plan the week, once per year. make medium term planning decisions and ensure reemuneration Committee.. Chaired by Elder Paul alignment between all of the staff team members Couchman and comprising 3 additional non- in working togetheT to further the vision and salaried elders. This committee is appointed by the mission of the church. trustèes to oversee and make recommendations on payment arrangements for trustees, or any person connected to a trustee. Additionally. the committee reviews and makes recommendations on payment arrangernents for those employed by Cornerstone Church Istaffj. The committee reports at least once per year with recommendations for staff and trustee remuneration for the following financial year. Mission Committeè.. Led by Elders Stephen Miller and Rob Fladcliffe. this committee has responsibility. under the eldership, to promote cross-cultural ministry in the church, propose people to work sn cross-cultural environments. and oversee them when they are working. This inVo￿eS mobilising the church to pray and care for them and keeping the elders and church up to date with their news and relevant local development 30 Annual Report 2025 Staff structure at year end Eric Duong Minister Preaching and pastoring with responsibility for the MDS and small groups. Amanda sMart￿o$ran1 Director of N¢inistry Responsible for pastoral care, small groups, mercy ministries, and the internship. David Upton Minister Preaching and pastoring with responsibility for student ministry and evangelism. Phil Moorè Director of Minjstry Responsible for youth ministry and music ministry. John Russell Lead Minister Responsible for vision, preaching, leadership and the elders and staff team. Kathryn Jackson Lead Director of Ministry Supporting the staff team and linking with the eldership, and leading 0-185. ènd women's ministry. Katrina Harper Director of Ministry Fle5ponsible for children's ministry. Felicity Scullion Director of Operations Developing strategies and structures for operationally supporting leadership and ministries. Sarah Marvin Senior Operations h4on¢yger Flesponsible for HR, events and day to day operational ftjnctioning of the church. Key CondLJit Group Staff Leadership Group Spencer Hampton Director of Operations Transitioning responsibilities for the operations of the church ahead of retirement in 2026. Permanent Staff Training Staff Structure, governance and management 31 Kane Blake Intern Supports ourstudent ministry. Ailie Smallwood Ministry Worker IMDSJ Training to be a children and youth ministry leader. Abi Kennedy Intern Supports our international & students, mlnistries. Rupert Akhalu Ministry Worker (MDSJ Training for pastoral ministry. Nathan Kosciecha Intern Supports ouryouth and music ministries. Janey Shipway VoluntoryAssociote Supports our pastoral care. Terèsa Samuèl Office Secretory Provides operational and administrative support. Fion Lau Intern Supports our children's ministry. We are so thankful for all the members of the staff team, who serve faithfully and lead diligently with the gifts that God has given them. In a year of so much change. we praise God for the way he has provided all the people we have needed to fulfill all he is asking us to do." Ollie Watkins Operotions Assistant Provides operational and administrative suppolt. Abigail Mccormick Intern Supports our youth ministry. John Russell, Lead Minister NIV HOLYBIBLE NIV HOLYBIBLE NIV HOLYBIBLE Appendix A- Statement of trustees, responsibilities 33 Appendix A- Statement of trustees, responsibilities Company Law requires the elders to be responsible The elder5 are Tespon5ible for the maintenance and for preparing the Annual Report and the f inancial integrity of the corporate and financial information statèments in accordance with applicable law and included on the charity's website. Legislation in the regulations. United Kingdom governing preparation and The elders are required to prepare financial dissemination of financial statements may differ statements for each financial year in accordance from legislation in other jurisdictions. with United Kingdom Generally Accepted Members of the eldership Accounting Practice Iunited Kingdom Accounting Members of the eldership who are directors for the Standardsl and applicable law. The financial statements are required by law to give a true and purpose of the company law and trustees for the fair vièw of the state of affairs of the charity and of purpose of charity law, who served during the year its incoming resources and application of resources and up to the date of this report are sèt out on page 25. of the charity for that period. In préparing these flnancial statements. the elders should follow besr Members of the charitable Company guarantee to practice and.. contribute an amount not exceeding El to the assets of the charitable company in the event of winding up. The total nLJmber of such guarantees at 31 December 2025 was 912024.. 91. A re501ution to appoint TC Group as auditors of the company will be proposed at the Annual General Meeting. select suitable accounting policies and then apply them consistently., 0￿erve the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudenL state whether applicable UK accounting standards have been followed, subject to any Tnaterial departures disclosed and explained in the f inancial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. This report has been prepared in accordance with the Statement of Recommended Practice Acctsunting and Reporting by Charities and in accordance with the gpecibl provisions of Part 15 of the Companies Act 2006 relating to small entities. Thè èlders are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the f inancial F)OSition of the charitable company and enable them to ensure that the financial statements comply with the applicable law, regulations and the trust deed. They are also responsible for safegLJarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of f raud and other iiregularities. Insofar as the elders are aware-. • there is no relevant audit inft)rmation of which the charity's auditors are unaware and the elders have taken all steps that they ought to have taken to make themselves aware of any relevant audit information ènd to establish that the auditors are awère of that inforrnation. Signed.. Jvl 111 P.u¥s￿l Date.. 0710512026 34 Annual Report 2025 Appendix B - Auditor's Report Opinion We have audited the financial statements of Cornerstone Evangelical Church for the year ended 31 Decèmber 2025 on pages 36 to 46 which comprise the Statement of Financial Activities, the summary Inctsme and Expenditure Account. the Balance Sheet, the Cash Flow Statement and the related notes. The f inancial reporting f ramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Rèporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Prèeticel. the directors have not disclosed In the f inancial statements any identif led material uncertaintie5 that may cast signif icant doubt about thè charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months f rom the date when the financial statement5 are authorised for issue. Other informatlon The trustees are responsible for the other information. The other information comprises thè information included in the annual report. other than the financial statements and our Auditor's Qeport thereon. In our opinion the financial statements.. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of the incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have beèn prepared in accordance with the requirements of the Companies Act 2006. In connection with our aLJdit of the financial statemerit5, our responsibility 15 to read the other information and. in doing so. consider whether thè other information is materially inconsistent with the financial Statements or our knowledge obtained in the audit or otherwise appears to be matÈri3lly misstated. we identify such material 8as1s for oplnlon incon515tencies apparent material We conducted our audit in accordance with misstatements, we are required to determine International Standards on Auditing IUKI11SAs IUKII whether there is a material misstatements in the and applicable law. Our responsibilities under those financial statements or a material misstatement of standards are further described in the Auditors, the other information. If, based on the work we have responsibilities for the audit of the financial performed. we conclude that there is a material statements section of our report. We are misstatement of this other information, we are independent of the charftable company required to rèport that fact. We have nothing to accordance with the ethical requirements that are report in this regard. relevant to our èudit of the f inancial statements in the UK, including the FRC'S Ethical Standard. and the provisions available for small entities, and we have fulfilled our other ethical responsibilities in accoidance with these requiremen￿ We believe that the audit evidence we have obtained is suff icient and appropriate to provide a basis for our opinion. or Opinion on oth•r mattèrs prèscribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit". the information givèn in the Annual Trustees eport which includes the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the Qeport of the Directors included within the Annual Trustees report has been prepared in accordance with applicable legal requirements. Conclusions relating to going ¢on¢ern We have nothing to report in respect of the following rnatters in relation to which the ISAS IUKI require us to report to you where.. the directors, use of the going concern basis of accounting in the preparation of the f inancial statements is not appropriate. or Appendix B- Auditor's Report 35 Matters on which we are required to report by exception In the light of the knowledge and understanding of Our objectives are to obtain reasonable assurance thè company and its environment obtained in the about whether the financial statements as a whole course of the audit, we have not identified material are f ree from material misstatement, whether due misstatements in the Director's report included to fraud or error, and to issue a Report of the within the Trustees report. Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can rise from fraud gr error and are considered material if, individualw or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Auditor's responsibilities for the audit of the f inanrial statements We have nothing to report In respect of the following matters where the Companies Act 2006 requires US to report to you if, in our opinion". adequate and proper accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received f rom branches not visited by us., or Parent charitable company f inancial statements are not in agreement with the accounting records and returns.. or certain disclosures of trustee's remuneration specif led by law are not made., or we have not received all the information and explanations we require for our audit", or the trustees were not entitled to prepare the f inancial statements in accordance with the small companies regime and take advantage of the small companies, exemption from the requirement to prepare a Strategic Rewrt or in preparing the Trustees report. Irregularities. including fraud, are instances of non- compliance with laws and regulations. We design procedures in line with our responsibilities, outlined bove, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, sncluding fraud is detailed below.. Enquiring of management of any known or suspe¢ted instan¢es of fraud, as wéll as considering management's assessment of the susceptibility of the f inancial statements to flaud. Performing substantive testing over a selection of journal entries made in the period. to address the risk of f raud due to management override of controls. With a focus on entries made by unusual team members or entries made at unusual times or on unusual dates. We also communicated relevant identif led laws and regulations and potential f raud risks to all engagement team members, and remained alert to any indications of fraud or non- compliance with laws and regulations throughout the audit. eviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements. Specif ically checking compliance with The Charity Commission as well as employment law5 and regulations. Performing ana1￿ical procedures to identify any unusual or unexpected relationships that may indicate an increased risk of material misstatement as a resijlt of fraud, or management override. Responsibilities of Trustees As explained more fully in the Statement of Trustees Responsibilities set out on page 33. the trustees (who are also the dirèctors of thé charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisf led that they give a true and fair view, and for su¢h internal control as the trustees determine is necessary to enable the preparation of financial statements that are free f rom material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to Cease operations, or has no realistic alternative but to do so. 36 Annual Report 2025 Assessing accounting estimates which have a material impacr of ihe year end accounts, to determine if there is indication of managemènt bias. Use of our r•port This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we might slate to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for ihis report, or for ihe opinion5 we have formed. Despite the audit being planned and conducted in accoTdance with ISA5 IUKI there remains an unavoidable risk rhat material misstatements in the financial statements rnay not be detected owing to inherent limitations of the audit, and that by thèir very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations or the override of intern31 control5. A further description of our responsibilit1es for the James Liptrott Isenior Statulory Auditor) audit of the financial statements is located on the For and on behalf of TC Group, statutory auditor Financial Reporting Council's website at 10 Stadium Business Court ifvww.f rc.org.uk/auditorsre5ponsibilitie5. This Millenniumway description forms part of our Report of the Auditors. Pridè Park Derby DE24 8HP Signed.. Date.. Statement of financial activities Ilncorporatin9 income and expenditure account) for the year ended 31 December 2025 The Slatement of Financial Activitie5 includes all gains and 105se5 in the year. All Incoming resources. and resources expended derive from continuing activities. 2025 2024 Income Exjnal￿￿s and Legacie5 985.834 £191.753 .171.587 £984.422 £262,04t 24&468 Income fiom ChaTltobleAcrivitie5 Èvents InctsrTIe' E34,774 £34.714 £31S84 Investment Income £6.036 £6.038 Totsl IrK•m• ,026.646 É191.753 El.218.399 U.024,812 r262.046 El.28&858 Expenditure Expendifure on ChuritobleActiwties O￿ra[VJn of Corneislone Cliurch and delivery of Mission Cosis Events ExpenAss•ts £5.433.787 £5,49S.041 Current A55ets C45h at 8ank 2nd ID £398.237 £481,203 Debtors. É56,685 £79.630 Total Curv•nt Ass•ts £454,921 £560.833 Currènt Liabilitie5 Creditorsduewithin one year £51149 £M,370 £52.149 £33,370 Net Current Assets £402,772 27.463 Total Assèts lèss Current Liabilitles £5.856,559 £6,022504 Creditors AmounL5 falling due after more thall oneyear" 1£481.9901 1£493.9191 NET ASSErs £53S4569 £5.528,585 The Funds of the Charity Unresiricted General £290J21 E416.692 OesignatÈd Restricted, £5.064.248 ES.117.893 Total Charity Funds £5.3￿,56? £5.528,585 otes lin¢. & 7. a 9. 10. 13) whlch form ptrrt of these occount5CLTn be founLI on wge5 40-4& The accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are fgr circulation to members of the company. The accounts were approved by the elder& Signed.. Date-. 07105/2026 38 Annual Report 2025 Cash flow statement as at 310ecember 2025 202S 2024 Net Cash Flow from Operatlng Activltles 1£22,51SI £71.063 Returns on Investments Iriterest Received £6.038 £7.806 Interest Paid lQ9.6761 1£45,9571 1£46.1531 IE52.9121 Capital Expenditure and Financial Investmènts Purchase of Tangibl• Fix4d Assèt Disp0531 of Fixed Assèts 1£50,2741 8.4351 .900 1£76.4271 F26371 Flnanclng Capital Element of Loan Repayment5 Made 1£6,5391 IE285.6981 Net Cash Inflowlloutflowl 1£82.9661 1£2S93211 IncreaseliDecreasel In Cash In the Year 1£82,9661 [£2593211 Nèt Cash ￿SoUrc@S at l January 2025 £481,203 E740.524 Net Cash Resources at 31 December 2025 £398,237 E48I,203 Ntste5 linc. 771 whKh form portofthese occounts con be foundon pages 40-46 Notes forming part of the Financial Statement for the year ended 31 De¢ember 2025 Accounting policies onsidered a range of Income scenarios to varying The principal accounting policies are summarised degrees of sensitivity and prepared appropriate below_ The accounting policies have been applied expenditure plans which can be adapted consistently throughout the period. depending on the actual results achieved to ensure that the charity has suff icient cash flow to continue to meet liabilities as they fall due. Basis of preparation The financial statements have been in accordan¢e with the Accounting and Reporting by Charities., Statement of Recornmended Practice applicable charities preparing their to ac¢ounts accordance with the Financial FlepoTting Standard Cornerstone Evangelical Church meets thè applicable in the UK and Republic of Ireland def inition of a public benef it entity under FRSIO2. IFRS1021 leffective I" January 20191 Icharities SORP IFRS10211. The Financial Fleporting standard The f inancial statements are presented in sterling (Q. applicable in the UK and Republic of Ireland Funds IFftS1021 and the Companies Act 2006. Assets and General funds - are funds generated from activities liabilities are initially recognised at historical cost of the church such as bookstalls. events. outside or transaction value unless otherwise stated in the preaching. etc. relevant accounting policy notelsl. Unrestricted funds - are general funds available for The f inancial statement5 have been prepared on use at the discretion of the elders to further the a going concern basis. The trustees have reviewed general objectives of the church and which have and considered relevant information including not been designated for specific purposes. They are the annual budget and future cash flows. In usually gifts from members of the congregation making their assessment. management have also and the tax recovered on those gifts. The trustees consider there are no material uncertainties about the Charity's ability to continue as a going concern. Appendix 8 - Auditor's Report 39 Restricted funds - are funds that car) only be used as constituting constructive obligations such that in accordance with specif ic restrictions imposed by future years, support is accounted for in these the donors or which have beèn rèisèd for particular accounts as a liability. The trustees consider that to purposes with the objects of the church and the tax comply with the accounting requirements of SORP re¢overed on those funds. The aim and use of each would not present a true and fair view because it restrictèd fund Is set out in the Notes to the does not communicate reality. Financial Statements. Further, accounting foT these liabilities in this way would require the trustees to build up unnecessary reserves that could not, in the meantime. be used to pursue the charity's objectives. Dèsignated fund this fund is set aside during the year by the elders for the refurbishment of the building. Incoming resources All incoming resources are included in the Statement of Financial Activities ISOFAI when the church is legally entitled to the income and the amount can be quantified with reasonable certainty. The trusteès èrè confidènt that the missionaries supported would not view their support as an open- ended obligation on the part of the church. Resources expended Expenditure is included on an accruals basis and is recognised when there is a le9al or constructive obligation to pay for expenditure. All costs have been directly attributable to one of the functional categories of resource used in the SOFA. The church is not registered for VAT and accordingly expenditure 15 shown gross of irrecoverable VAT. Pension policy Legacies are recognised at the earlier of receipt or at The charity operates a defined contribution pension the time the amount can be measurèd with heme. Contributions to the scheme are rèasonable ¢èrtainty. recognised as resources expended upon payment. Donated services and facilities are recognised as The assets of the scheme are held separately f rom income when the charity has control over the item. those of the charity In an independently any conditions associated with the donated item adrnini5tered fund. Contributions payable for the have been met, the receipt of economic bènefit year are shown within the statement of financial frgrri the use by the charity of the item is probable activities. and that economic benefit can be measured Depreciation reliably. On receipt, donated services and facilitieg Fixed assets costlng more than £500 have been are recognised on the basis of the value of the gift capitalised at C05t, the depreciation has been to the charity which is the amount the charity reviewed and is calculated so as to write off the cgst would have bèen willing to pay to obtain services or of fixed assets on the following basis-. tscilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. where this can be quantlfled. Collections are recognised when received by or on behalf of the elders. Planned giving 15 recogni5ed only when received. Income tax recoverable on Gift Aid donations is recognised when the donation has been received. Fixtures and Fittings120%- reducing balance) Equipment120%- reducing balance) New Building Audio & Visual Equipment120%- reducing balance, charged to general fund) New Building Fixtures and Fittings120%- reducing balance, charged to general fund) 8uildings12%- on cost, charged to restricted building fundl Interest on funds held on deposit Is included when receivable and thè èmount can be measured reliably by the charity., this is normalty upon notif ication of the interest paid or payable by thè bank Land - the land value has not been depreciated. Llabillties for home and international mission The church f inancièlly supported 13 missionaries or mission families during the period. Where a missionary has been supported by the church for a number of years, strict compliance with the Charities Statement of Recommended Practice ISOFiPI may regard some arrangements New building assets consisting of f ixtures and f ittings and audio equipment have been depreciated from the date that the property was occupied. Debtors Debtors are recognised at the settlement amount owed to the charity or prepaid. 40 Annua5 Report 2025 Creditors Judgement and key sources of estimation Creditors and provision5 are recognised where the uncertainty charity has a present obligation resulting from a The preparation of accounts using generally past event that will probably result in the transfer of accepted accounting principle5 requires funds to a third party. and the amount due to settle management to make estimates and assumptions the obligation can be measured or estimated that affect the reported amounts of assets and reliably. Creditors and provisions are normally liabilities at the date of the accounts and the rèccignisèd at theiT settlement amount. reportèd amounts of revenue5 and expenses during Financial instruments the reporting period. The charity has financial assets and financial The key estimates and assumptions used in the liabilities of a kind that qualify as basic financial Financial Statements arè detailed in the accounting instruments. Basic f inancial instruments are initially policies. recognised at transaction value and subsequéntly Llmited by guarantee measured at their settlement value. The charity is limited by guarantee and in the event of it being wound up, every mernber is liable to contribute a sum not exceeding £1. There aTe no shares of any class either authorised or allocated. Lease agreements Rentals applicable to operating lease agreements where substantially all of the benef its and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease. 2025 2024 l. Donatlons, Glfts and Legacles (Unrestricted) Gift Aid GNing Gift Tax Recoverable £614,644 E619,685 $4.988 64,053 General Giving Tax Inclusive Giwng 61,901 49,>PI £54.301 £￿,313 Legacies £985,834 £984.422 Donations Gifts and Lègacies (Restricted) Ministry Developmeni Fund É60.864 14599 8uilding Fund £84.97T £90.643 Christmas Appeal- March 2025 Chri5tmasAppeal- Decefnber 2025 £38.861 £3i.641 £I.OS7 E2S.i 91,7S3 £262.046 Total Donations ,177587 .246,468 Z Charitsble Activltles Trainin9 Event5 £8.304 aB Youthlchildren's Events 7.466 06.460 8ooks, Tapes. and CDS .723 R24 Social Events £3.810 ,8ts2 student Events £700 Tutorin9 ,821 Donations £3,348 £9572 Ev3ngelisuc Events U,OS7 £34.774 2.585 Appendix B - Auditor's Report 41 2025 2024 3. Total Salarles & Staff Summary salarie5 £586.734 £556.220 Employer's Nl Pension £64.246 53,304 £32397 £24.063 Child Care Vouehers £300 £683.655 £635,887 Average Weekly Number of Employeos, calculat•d as fiill time equivalents PastoMr￿•S Ministry Support for Mi5510naries and their Families 52.197 £152.197 75.992 52.197 52,197 75.992 SJ H•m• Mlssl•n Home Missnn Contingency CU Missions 3.227 3,227 ES00 £6,542 £750 £5 Friènds International 3,OLK) 3,OCQ a3,000 FrieDds International Admin eturning Students Ministry COCM Gra￿ Li £44 £44 £44 r/,000 ,oco £7,00ts r7,000 £6,000 IE8741 Cro$5Teach £7,00ts English Language Class Inteinafional Student Expenses Globe Cafe fj,686 .686 £60 £60 How50ns IEarle5field Communty Church) .000 £7.000 £7.306 £48,695 £48.695 9.770 Appendix B - Auditor's Report 43 2025 2024 &4 ￿MIn￿ratIon and Support C*) 94,248 94.248 .059 a66.424 ETnployee expenses FIEC & MGP Affiliation ,059 £46 6.862 £S40 6.862 £540 £74.414 Ewdn9elical Ajliance Subscription P05Eage Printing and Advertising Computer and Software Office Stationery and Sundrie5 Evangelical Now Bank Charges Child Proiaciion Reports Gerberal Sub's and Donations £540 47 El.125 t7.627 .125 £7.627 £7.909 £6,975 £3,112 £2.581 El581 £96 £96 £112 a.365 E3.365 É3,131 ,867 £1,695 .867 .695 .594 ,168 Accountanty Fees Audit Fees £2,￿0 £9.Y12 £2.010 E9,372 00 £2.070 £9.7S2 Pension Fees £300 £500 Legal Expenses £S.157 £253.913 £S.IS7 a,749 £253.913 £219,443 S3 gulldlh9 and F•brl¢ C4)11S Building Insurance Car Pafking Church Utilities £8,688 3.009 £45,400 £7,346 8,695 £ZS77 £539 £8.688 £8.497 3.719 3,0 E45.400 £41,361 Church Telephone Church Cleaning and W8ste Church Maintenance £7J46 8,69S £2.$ £6.665 EZO.964 £376 Internet and Comput@t Support Securily £539 .491 .491 Efi152 Servicing 8.591 8,591 £28.4S6 £122.33S 22,335 26,190 Sffj Equlpm•nt Church Equipment Purchases Office Equipment Purchase Depreciation- Fixtures and Equipment Profit on sale of fixed assets 472 E16.472 £5,584 90 £9,893 £9.893 E9.880 lll.1S01 4,314 £26,555 £26,555 &7 ev•nt5 Expendolure ¢okstall £23£ .693 Events É2S.364 £2S564 £21563 £25,598 £25.598 £23,256 &8 R•strlrf•d Cwts Loan Interest Chargos Depreciation- Property Depreciation-Origin81 Assèts Christma5 Appeal Sundry Building Costs Irepla¢* car parkl £29.676 £29,676 0.000 £45,957 £70,000 0,(￿0 1,635 1,635 £64,024 £9.462 E45,166 £5.845 £64.024 7S.335 15335 fj76.430 TOTAL EXPENDITURE ON CHARrrABLE ACTIVITIES .113,559 £178,858 92.417 ,￿1.705 Annual Report 2025 Operating ProfitlLoss The operating profit Ilossl is stated after charging:_ Auditors remuneration for the audit of the financial statements 2025 2024 ri.810 £7,810 Auditors romunerati(>n ft>r other services £2,000 £2.000 Depreciation Gain on disposal £91,528 £89,342 lll,1501 & Tangible Assets and Depreciation Fvmhold Land and L•gal Costs Bulldlny FlxtUTes & Ffttlngl C•rt 8ulldkng Cost Equlpment Total Audlo il Vlsual Fkttlngs Balance at Start ofyear Q750,920 £3,506,756 44,787 E134291 14.749 69,580 £6,821.083 Addit10n5 During Year Disposals Balance at End ofyear £20.329 £816 E9,129 £30274 £2.750,920 £&506.756 44.787 £154.620 IS.565 78.709 £6RSI J57 D•pr•ciation 8alanc& at Start ofyear £840.000 Tl.161 14,069 032 41,541 .326.042 DÈprÈtialiOn Oufing Year Di5P05a15 BalancÈ at End ofyear £70.000 E3.525 E8,110 £2.459 V.434 £91 $28 0.000 30.686 22,179 05.￿0 48,975 .417.570 N•t B￿k Value IN8 At 5t4rE of Year £2.750,920 £2.666,7S6 E17.626 £20,222 £11,478 £28.039 ES.495.041 At End of Yèar £2.750,920 £2,$96,756 4.101 £32.441 £9,835 £￿.734 £5.433.787 As shown the purchase of the land at 90 Casde Boulevard totalled £2.750.920. Other costs totalling £5,506.756 relare ro the purchase and developnlent ofthe land. 7. Cash at Bank and in Hand 2025 2024 Deposit 8nd Currenr Accounts Petty Cash £398.23? £481.203 £398.237 £48I.203 The cuirent account balance is held wth an automatic overdraft offset to the depoyt account which ensures the account remains in credit. 8. Prèpayments and Debtors Tax Refundable on Gift Aid 2025 2024 £43.543 3,142 £6&788 3.842 Other Debtors Prepayments £56,685 £79,630 9. Creditors & Accruals: Amounts falling due within one year 2025 2024 CrÉditors Social Security and other taxe5 Otht¥ Creditors 4.933 LI1039 1.383 £21.878 Bank PropeTty Loan-falling due in 12 months Bank Loan Interest ,966 £576 Accruals Audit Fee £9,512 £9372 £52.149 C33,370 Appendix B - Auditor's Report 45 10. Crèditors.. Amountsfalling due after more than l year Bank Property Loans 1-2years Bank Property Loan5 3-5 yeais Bank Property Loans after S yeaTS 2025 2024 £5.966 El.843 1.932 £464,092 3.134 £478,942 £481,990 £493.919 11. Commitments under Operating Leases- 31 Dec•m￿r 2025 The church had annual cornmitments under a non-cancell8b￿ operating lease asfollow5'. 2025 2024 Isi year 1-Syears £2,208 E626 £S.IS2 IZ Secured Debts 2025 2024 Bank Ltyans £487.9S6 £494,495 The bank hokls security in the form of a legal charge the Cornèrstone Evarngèlical Church. Castl@ BoulÈvard. Nouingham. Ouring the year the mortgage held with the Kingdom Bank Limited. The current rate of Interest applying to the mtsrtglge 15 620%. the rate is variable. 13. Funds R•stri¢t•d Fvnds IY•H End•d 31 D•c•mb•r 20251 O•taHs Bal•n¢• blf In¢om• Expenditur• Tramfer balanc• clf £5.083,$30 £84.9 £5.057,1 £3.200 £60.864 al Building Fund bl Minisiry Development Fund cl Restricted Home Funds dl Christmas Appeal 2024 el Christmas Appeal Decernber 2025 Ill035231 £39.459 £25.163 £38,861 (£64,024) £1.057 .058 £5.111,893 91.7 If¥18.8581 £39,459 ES.064.248 Unr•rtrfct•d Fund fj General Fund E416,692 M,026,646 1£1.113.$591 IU9.4591 £290321 R•strlct•d Fund (Y••r End•d 31 DK•mb•r 2024) Detalls Balbnce bft Income Expendltuye Transtèr B•l•n¢• ¢lf £5,118,306 £90,643 I￿25.479) .083.530 D14,599 1011.3991 5.8451 1£45.1661 al Building Fund bl Ministry Development Fund cl Rèstricted Home Funds dl Christmas Appeal el ChristmasAppÉ312024 £3.200 £SB45 3525 1,641 £25.163 £2S,163 £5,13Y.676 £262.046 I£287,8￿} £5,111.893 Unr•styi¢t•d Fund n CÈneral Fund £415.IS6 ￿.024,$12 10.023,2761 £41&692 al 8uilding Fund A fur)d for premises to house the ministries of the Church,. its Ouireach. its tèaching and its fellowship. Gifts made to thi5 fund are used for acqviring. running. furnishing and maintaining property to house the ministnes and worship of Cornerstone Church and any other cosrs assoriated with building. Tenting. o¢eupyin9 and usjng such a property liricludes non- taxabl& givir)g, Gift Aide(J giving ancl tax allowats￿ on giftsl. bl Ministry Development Fund- A fund to cover staff costs for the Ministry Development Scheme. raising future church leader5 for Cornerstone and bèyond. ¢1 Restricted Home Fund5- Funds to supporr home mission (includes non-taxable giwng. Gift Aided giving and tax alltswable OD 91fts1. dl Christmas Appeal 2024- Funds raised until March 2025 for Safe Families, Hope into Action. Jericho Iload and Together for the Family. el Ch¥i%tmas Appeal 2025- Funds raised from March 202S onwaids for Safe Families and Home for Good, Open Home& Jericho ri¢ad Pr9ect.T￿ether for the Family and Moldowdn Mission. fj General Fund- This Is the balance of unrestricted fund 46 Annual Report 2025 14. Analysis of Net Assets between funds F•rth• Y•èY Ended 51 December 2025 2025 024 General Funds Restrlct•d Funds Total Fund Total Funds Fixed Assets 9&70 £296.936 1£46.189 £5394.218 £157,985 E5.433.787 £5,495.041 Current Asseis £454,921 0.833 (£5,964) 481,9901 I￿2.149} 1£481.9901 lQ3,3701 493,9191 Long Tèrm Liabilities Nèt Assets at 3112.2S £￿0?21 £5,064.248 £SJS4,569 £5.528.$8S r the Ve?r Ended 31 De¢ember2024 2024 2023 Cen•ral Funds R•strtct•d Fundi T•t•l Fund$ rotal Funds Fixed Assets £39,517 £409,969 IE32.7941 £5.455.524 $0,864 [£5761 1£493,9191 £5.111,893 £S.49S.041 £560.833 £5,576,698 Current Assets 8.840 IU21,0721 InOl,2741 1£33.3701 1£493.9191 Long Term Liabilitles NÈtAssets at31.1224 £416.692 £5,528585 E5,552.832 IS. Taxation The charitable company is exempt from Corporatlon Tax on its Charitat￿e actNlties. The èlders have revievod Cofnerstone Evangelical Church's actwities and ale confident thar they fulfil charitable aims ènd as such arè considered to bÈ foi the primary purpose. 16. Penslon Commitments The charity conlribuie5 to a defined contributnn pension schenie. The assets ale held and adminlstered by individually selected pension prowder& The pension cost char9• repr•sents contributions payable by the charity to the pension seheme and amounts to £32.39712024". E24,0631. 17. Cash Flow Statement R•¢on¢lllatlon of n•t rnov•m•m In fvnds nrt ¢a$h Ilow* fr¥m pp•r•tln¥ 2025 2024 Net loutgoingll incoming resources jQ74,0181 j£24.2471 AdjusEm•nts'. Profit11055 on disposal Interest Paicl I￿.]50} £45.957 £29.676 Investment Income 1£6.0381 £91528 E7.8061 £89342 1£21,6741 1£9.3591 Oepreciation Charges Ilncr•asei/ Decrease in Debtors Incr•as41 IDacr•asèl in Creditor5 £22.945 a3.392 lQ2.S151 £Tr.063 18. Redeemer Church - Contingent Liability In 2017 Redpemer Church Nottingham was established, using the Mon￿ and p@oplÈ y￿0￿rt￿$ ofcornèrsione Church On l Jul 2019 Redeemer Church became a new charitable incorporated organisation. irbdependent ofcornerstone Chureh. On ￿5t January2020 Red•Émer Chuich purchasod the premises known as Beeston Town Hall for an arTKbunt of £425.000. At theii meeting on 10th December 2020 the Cornerstone members agreed to underwrite development of the Towrn Hall as Guarantor for the borrowing by ￿￿0￿Mer Church Nottingham of £875.000 from CAF 8ank. On 19th July 2024 Fledeemer Church moved their mort9agè to ￿ngdoM Bank and theCAF borrowjing guaranreew85 lifted. 19. Rèlated Party Transactions There are notran5aciionsto note other than th0￿shoWn In not•3. I Cornerstone CHURCH Contact us O off ice@cornerstonechurch.org.uk www.cornerstonechurch.org.uk 0 0115 958 8711 Cornerstone Evangelical Church 90 Castle Boulevard, Nottingham, NG7 7FP A charitable company limited byguarantee Charity number.. 1128533 Company number.. 06805205 Amendments Since printing the Annual Report 2025, the auditors have made some revisions lincluded below). To view the amer)ded version, Visit.. WMW.cornerstonechurch.org.uk]docs/annual-report-2025-draft.pdf or scan the QR code.. Page19- Net Resources The f igure for net resources should read -£126,371, rather than -£127,725. "Net resources (the difference between unrestricted income and outgoingsj for the general fund for this period are -£126,371 giving total generijl funds at theyear end of £290,327 (£476.692 at the end of 2024)." Page 38- Basis of Preparation For greater clarity, the auditors have provided an additional sentence for the note titled 'Basi5 of preparation,. 'In making their assessment, manogement have also considered a range of income scenarios to varying degrees of sensitivity ond prepc7red appropriate expenditure plans which can be adapted deK>ending on the ocruol results ochieved to ensure that the charity hos sufficient cash flow to contirjue to meet liabilities os they fall due." Page 41- Trustee Remuneration In note 4, 'Trustee remuneration,, for 2025.. remuneration has been amended to include employer National Insurance contributions, the figures for David Upton have been amended to reflect only the time following his appointment as a trustee, and a typo has been amended under pension for Eric Duong. View the updated Trustee remurneration table on the back. Page 45- Note 13 Restricted Fund Under note 13, 'Restricted Fund (Year ended 31 December 20241., brackets have been added to expenditure balances. Trustee Flemuneration I'indicates amended figure) 2025 2024 Colln Webster Remuneration £37.633' £44,428 Pension ,600 E2,22l Expense5 (£821 £909 £33,F57' £47,558 John Russell Remuneration £5S35f E48,234 Pension £2,986 £2,424 Expenses £2586 £2,140 E60,72 £52.798 Miller Qfnuneration £24,091 Pension £7,208 Expenses £307 E25,606 David Upton emunerarion £14956. Pension £1.0728 Expense5 £2.F58' £2Z126* Eric Duong Flemuneration £20,999. Pension £894. Expenses £73.996 £35,889*