WALTON COMMUNITY &
ENTERPRISE PARTNERSHIP
ANNUAL REPORT &
FINANCIAL STATEMENTS FOR THE
ST
YEAR ENDED 31 DECEMBER 2024
Company Number: 07071909
Charity Number: 1141033

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
CONTENTS
Page
Trustees, Annual Report
Statement of Trustees, Responsibilities
Independent Examiner's Report
Statement of Financial Activities
Balan￿ Sheet
Notes to the Financial Statements
10

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
The trustees are pleased to present their annual report for the year ended 31 sl December
2024.
The financial stalements have been prepared in accordance with the Charities Act 2011,
Companies Act 2006, Accounting and Reporting by Charities,. Slatemenl of Recommended
Practice applicable to Gharities preparing their accounts in accoidance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 effective from 1 sl
January 2019.
OBJECTIVES AND ACTIVITIES
Walton Community & Enterprise Partnership (Cornerstone) is a Community Enterprise Centre.
Its aim is to aid community cohesion by providing flexible, affordable space for local community
and enterprise activities.
Cornerstone's objects are specifically restricted to the following..
The advan￿ment of education
The relief of poverty
The relief of unemployment
To promote for the benefit of the inhabitants of Walton and the surrounding area the
provision of facilities for recreation or other leisure time occupalion of individuals who
have need of such facilities by reason of their youth. age, infirmity or disablement,
financial hardship or social and economic circumstances or for Ihe public al large in the
interests of social welfare and with the object of improving the condition of life of Ihe
said inhabitants.
ACHIEVEMENTS AND PERFORMANCE
In the years since it opened, we've been home to more than 55 businesses who have
employed more than 200 people over the lime and that's nol including the numerous groups
using the centre.
Prior to the organisalion being established a consultation and feasibility sludy was conducted
which looked at the possible uses of the building based on a social and economic profile of the
areas and a gap of analysis. The study led to Ihe eslablishmenl of the Community Enterprise
Centre.
Subsequent to its establishment, Cornerstone evaluated its early work and conducted a Su￿eY
of ￿ntre users., and asked what needs they had and what gaps in facilitieslactivities there
were in the area and what they would like to see. The following was identified:
There was a lack of affordable, flexible accommodation in the area for fledgling
community businesses, social enterprises, sole traders and small businesses.
There was a lack of community development, community involvement and capacily
building in the area.
The building has now achieved full occupancy in its available lenancies.
Cornerstone was specifically established as a vehicle for increasing social cohesion and levels
of enterprise activity in the Walton area. By doing so it is helping lo strengthen the local
community by supporting and facilitating enterprise and self-efficacy by empowering the
community to find a solution to Gommon problems, in particular the problems of laGk of
employment and social isolation.

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
Cornerstone gives people from the local community the opportunity to initiate activities and
projects of benefit to local people as well as developing new services and enterprises. The
local community will also be made stronger by the crealion of a hub of inler-connected and
symbiotically networked community groups. socially driven business, locally derived private
businesses and community service providers.
A history of the site and the current premises
The Gurrent building is the fourth school built by Walton Church, the first dating from the early
1600's. It opened in 1897 and was the junior department of the Walton St Mary Church of
England Primary School. The infant department relocated to the same site in the 1990's and in
2009 Walton St Mary and Arnot St School joined together on the Arnot site to become Arnot St
Mary Church of England School.
The present building was Ihen handed over to Walton Community & Enterprise Partnership
and renamed "Walton Cornerstone" The previous school was built in Heathcote Road in 1847.
This school consisled of Iwo rooms and accommodated 15 girls and 130 infants. The cost of
the project was £1,080. The cost for attending Ihe school at this time was 2d per week per
child and 1 d- for each additional child from the same family.
By 1870 there had been and expansion of housing in the area and the school was unable to
accommodate the needs of the district, and a further schoolroom was buill facing the school in
Heathcote Road. Walton National School opened in Bedford Road in 1895, paid for by the
parishioners and was built on land given by the Rectors of Walton and West Derby and by
Madame de Falbi and the Trustees of the Wallon Glebe Estate. The school changed its name
to Walton St Mary Church of England School and finally closed its doors in July 2009 when the
building was leased to Walton Community & Enterprise Partnership.
Summary of the main activities in relation to these objects
As noted, the primary objective of Cornerstone is to provide affordable space for local
community and enterprise activity. Since occupying the building in 2009, it has let most of the
available office space and Comerstone is delighted to have been the first 'stepping stone, for
many successful business ventures who have moved on to their own office and shop space.
During 2020 the Trustees agreed to upgrade the Adminislrator lo the role of Centre Manager in
recognition of the additional responsibilities that were occurring.
Cornerstone holds a Foodbank once a week, it has hosted open days, debt help sessions,
residents meetings, and police and council surgeries. The aim is to provide these sessions as
well as slart-up sessions for new business enterprises in the future rather than merely offer the
space for olhers lo do so.
Since incorporation Walton Community & Enterprise Partnership has seen a number of
successes amongst its tenants with many moving to bigger premises within the centre and
others moving on due lo the successful growth of their businesses.
FINANCIAL REVIEW
Total income in the year was £80,36912023- £73,078).
Total expenditure in the year was £91,631 (2023: £63,858}, leaving a deficit for the year of
£11,262 (2023: surplus £9,220)
At 31st December 2024 the charity's reserves stood at £19,334 {2023.' £30,596).
All income, expenditure and reserves are unrestricted

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
RISK MANAGEMENT
The trustees have conducted their review of major risks to which the charity is exposed, and
systems have been established to mitigate those risks. These reviews are conducted on a
continuing basis.
RESERVES POLICY
It is the policy of the charitable company to maintain unrestricted funds, which are free
reserves at a level to cover redundancy provision and three months, running costs should no
further funding be received.
At the end of the financial year, unrestricted funds totalled £19,334. The charitable company
reqLJires £2,700 for redundancy provision and £15,272 for two months, running costs, (total
£17,972).
PLANS FOR THE FUTURE
Our refurbishment programme includes..
Updating the old school toilets with new units suitable for adults.
Purchasing of land currently owned by Liverpool City Council.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation is a charitable company limited by guarantee, incorporated on 10th
November 2009 (company number 07071909) and registered as a charity (charity number
1141033) on 1stApril 2011.
The Goveming Instruments under which the charitable company operates comprise of the
Memorandum and Articles of Association dated 3rd November 2009
The Management Committee Comprises of two members and trustees and a Company
Secretary from a cross section of backgrounds, experiences and skills
Under Article 8.3, to qualify as a member a person must be either the Rector or a
Churchwarden of Sl Mary's Church Walton. Trustees consist of a minimum of three to a
maximum of 12. 9 shall be nominaled and a maximum of 3 trustees may be co-opted.
Nominated Trustees shall be nominated by the Rector and Churchwardens for the time being
of St Mary's Walton {who shall determine such nominations by a majority vote}, and shall
remain in office for so long as the Rector and Churchwardens shall determine, but in any evenl
no longer than 3 years.

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Walton Community & Enterprise Partnership
07071909
Name
Company Number
Charity Number
Registered Office
1141033
Walton Comerstone
2 Lislon Street
Walton
Liverpool
Merseyside
L4 5RT
Trustees
Susan Best
Valerie Cumine
Rev Lynn Davidson
Rita Lacey
Brenda Nettleton
John K. TaySor
Brenda Nettleton
(Appointed 18th August 2024)
(Resigned 1 St August 20241
(Appointed 20th February 2024)
(Resigned 20th February 2024)
Company Secretary
Independent Examiner
Ying Huang FCCA
clo LCVS
151 Dale Street,
Liverpool,
L2 2AH
Bankers
TSB Bank PIG
PO Box 453
Mitcheldean
GL14 9LR
Signed on behalf of the Board of Trustees
Brenda Nettleton, Trustee
Date.. 29. 1.

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
STATEMENT OF TRUSTEES, RESPONSIBILITIES
Company law reqL(ires the trustees lo prepare financial slalements for each financial year
which give a true and fair vlew of the state of affalrs of the charitable company as at the
b818nce sheet date and of its incoming resources and application of resources, including
income and expenditure, for the finanGial year. In preparing those financial statemenls, the
trustees should follow begt practlce and..
select sullable accounting policies and then apply them consistentlyi
observe the methods and principle in the Charities SORP.,
make judggments and estitnates that are reasonable and prudent.
prepare the financial statements on the going concern basis unless il is inappropriate to
presume that the company will continue as a going GoncErn'
state whether applicable accounting standards have been followed, subject to any
material departure disclosed and explained in the finanGial statements.
The Trustaes ara responsible for maintaining proper accounting records whlch disclose
with reasonable accuracy at any time the financi81 position of Ihe charitable company and
to enable them to ensure that the financial statements comply with the Companies Act
2006. They are also responsible for safèguarding the assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
This report has been prepared in accordance with the Charities Act 2011, Companies Act
2006, Accounting and Reporting by Charlties,. Statement of Recornmended Practlce (Sorp
2019) appllcable to charities preparing their accounts in accordancè wlth the Financial
Reportlng Standard applicable in the UK and RepubliG of Ireland {FRS1021 effective from
1st January 2019.
By the Order of the board,
B Nettleton
Company Secretary
2 Liston Street
Walton
Liverpool
Merseyside
L4 5RT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
I report on the accounts of the charitable company for the year
ended 31st December 2024, which are set out on page5 8 to 15.
The Irustees {who are also the directors of the Gompany for the
purposes of company law) are responsible for the preparation of
the accounts. The trustees consider that an audit is not required
for this year under section 144(21 of the Charities Act 2011 (the
2011 Acl) and that an independent examination is needed.
11 is my responsibility to:
examine the accounts under section 145 of the 2011 Act,
to follow the procedures laid down in the general Direclions
given by the Charity Commission (under section 145{5>(b} of
the 2011 Act, and
to state whether particular matters have come to my
altention.
Res
ective
res
orisibilities of
trustees and examiner
Basis of inde
endent
examiner's statement
My examination was carried out in accordance with general
Directions given by the Charity Commission. An examination
includes a review of the accounting records kept by the charity and
a comparison of the accounts presented with those records.
also includes consideration of any unusual items or disclosures in
Ihe accounts, and seeking explanations from the trustees
concerning any such matters. The procedures undertaken do not
provide all the evidence that would be required in an audit, and
consequently no opinion is given as to whether the accounts
present a 'true and fair, view and the report is limited to those
matters set out in the statement below.
Inde
endent examiner's
statement
In connection with my examination, no matter has come to my
attention..
(1} which gives me reasonable cause to believe that in, any
material respect, the requirements..
to keep accounting records in accordance with section
386 of the Companies Act 2006., and
to prepare accounts which accord with the accounting
records and comply with the accounting requirements of
section 396 of the Companies Act 2006 and with the
methods and principles of the Statement of
Recommended Practice.. Accounting and Reporting
Charities
have not been met., or
(2) to which, in my opinion, attention should be drawn in order
to enable a proper understanding of the accounts to be
reached.
Name:
Mrs Ying Huang
Relevant professional qualification or body.. FCCA
Address.. clo LCVS 151, Dale Street, Livorpool, L2 2AH
Dated..

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE
ACCOUNTI FOR THE YEAR ENDED 31ST DECEMBER 2024
Notas Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
Income and endowments
from:
Donations and Legacies
Charitable activities
Investments
1,000
71,927
151
3b
80,155
214
80,155
214
Total in¢ome
80,369
80,369
73,078
Expendlture on:
Charitable activities
91,631
91,631
63,858
Total expenditure
91,631
91,631
63,858
Net (expenditure)Ilncome net
movement in funds
{11,262)
(11,262)
9,220
Total funds brought fO￿ard
9,10
30,596
30,596
21,376
Total funds carrled forward
8-10
19,334
19,334
30,596
The notes on pages 10 to 15 form part of these accounts.
All the above amounts relate to continuing activities of the charitable company.

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP Company Number: 07071909
BALANCE SHEET AS AT 31 ST DECEMBER 2024
Notes
31st December 2024
31st December 2023
Fixed assets
Tangible fixed assets
Current assets
Debtors
Cash at baiik and in hand
302
21,012
4,850
27,652
21,314
32,502
urrent liabilities
Creditors: amounts falling
due within one year
(1,98Ql
{1,906}
Net current assets
19,334
30,596
Total assets less Current
liabilities
19,334
30,596
Funds:
Unrestricted funds
Restricted fijnds
19,334
30,596
10
19,334
30,596
These financlal statements have been prepared In accordance with the Financial
Reporting Standard appSicable In the UK and Republic of Ireland {FRS1021.
These accounts have been prepared in accordance with the provisions applicable to small
Gompanies subject to the small Gompanles, regime and in accordance with FRS102
SORP.
For the period Govered by these accounts the company was entitled to exempllon under
section 477 of the Companies Act 2006 relating lo small Companies.
No members have required the company lo obtain an audit of its aGGounls for the year In
question in accordance with section 476 of the Companies Act 2006.
The trustees, who are the directors of the company, aGknowledge their responsibility for
complying with the requirements of the Act with respect to accounting records and the
preparation of financial statements.
Signed on behalf of the Board on
22.:..7., 2Y
Brenda Nettleton, Trustee

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. Limited Liability
The charity is a company limited by guarantee. Each member's liability is limited to £1.
2. Accounting Policies
Basis of accounting
The financial statements have been prepared in accordance with the Statement of
Recommended Practice.. Accounting and Reporting by Charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FRS1021 effective from 1st January 2019 and Charities Act 2011 and Ihe
Companies Act 2006.
The accounts have been prepared under the historical cost convention with items
recognised al cost or Iransaction value unless otherwise stated in the relevant note{s) to
these accounts.
The accounts are prepared in sterling, which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The Charity has taken advantage of the provisions in the SORP for Charities applying FRS
102 Update Bulletin 1 not to prepare a Stalemenl of Cash Flows.
Going concern
The Trustees therefore have a reasonable expectation that the Charitable Company ha5
adequate resources to continue in operational existence for the foreseeable future and
have adopted the going concern basis of accounting in preparing the accounts.
Fund accounting
Unrestricted funds are the charily's free reserves available for the trustees to apply in
accordance with the charitable company's charitable objectives.
Restricted funds are subject to specific reslrictive conditions imposed by the donor. All
restricted funds are accounted for as restricted income and expenditure for the purposes is
charged to the fund.
Fixed assets
Capital expenditure of £1,000 and above is treated as a fixed asset and depreciated over
its useful life.
At trustees, discretion. expenditure on items in relation to improvements to leasehold
buildings have not been treated as fixed assets and are dealt with in the Stalement of
Financial Activities when payment has been made.
No value has been placed in the accounts on gifted assets or volunteer labour provided in
improving its facilities.
Income recognition
All income is recognised once the charily has entitlement to the income, there 15 sufficient
certainty of receipt and so it is probable that the income will be received, and the amount
of income receivable can be measured reliably.
10

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Donalions and legacies comprise of donations and general grants which are recognised in
the accounls when received, with the exception of known legacies which are accounted for
when their receipt is certain.
Income from charitable activities is recognised on an accruals basis except for granls
receivable, which are recognised on the dale on which their unconditional payment is
confirmed by the donor.
Income from investment relates to bank interest received and is recognised when the
amount is certain.
Expenditure recognition
Liabilities are recognised as soon as there is a legal or constructive obligation Gommitting
the charitable company to that expenditure, it is probable that settlement will be required
and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support
costs and governance costs, are allocated or apportioned to the applicable expenditure
headings in the Statement of Financial Activities. Support and governance costs are
applied to unrestricted funds unless specifically included in the restrictions, as specified by
the donor.
Expenditure on charitable activities relate to the operation of the charity comprising of
direct Charitable expenditure to meet the objectives of the charitable company. Support
and governance costs relate to the management and operalion of the organisation and
also compliance with constitutional and statutory requirements in producing the annual
report. These are dealt with in the Statement of Financial Activities when payment has
been approved by the charitable company.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at Gall with banks, olher
short-lerm liquid investments with original maturities of three months or less, and bank
overdrafts.
Financial instruments
The Ghariiy has elected to appty the provisions of Section 11 'Basic Financial Instruments,
and Section 12 '0ther Financial Inslruments Issues, of FRS 102 to all of its financial
instruments.
Financial instruments are recognised in the charity's balance sheet when the charity
becomes party to Ihe contractual provisions of the instrument.
Financial assets and liabilities are offset, with the nel amounts presented in the financial
statements, when there is a legally enforceable righl to set off the recognised amounts and
there is an intention to settle on a net basis or to realise the asset and seltle the liability
simultaneously.
Basic financial assots
Basic financial assets, which include debtors and cash and bank balances, are initially
measured at transaction price including transaction costs and are subsequently carried at
amorlised cost using the effective interest method unless the arrangement constitutes a
financing transaction, where the Iransaolion is measured at the present value of the future
receipts discounted at a market rate of inlerest. Financial assets classified as receivable
within one year are not amortised.

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
sr
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at
transaction price unless the arrangement constitutes a financing Iransaction, where the
debt instrument is measured at Ihe present value of the future receipts discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not
amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest
rate method.
Derecognition of flnanclal liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or
are discharged or cancelled.
Taxation
Income and gains are exempt from taxation as they are received and applied for charitable
purposes only. The charitable company benefits from various exemptions from taxation
afforded by tax legislation and are not liable to corporation tax on income or gains falling
within those exemptions.
Criti¢al accounting estimates and judgements
In the applicalion of the charity's accounting policies, the trustees are required to make
judgements, eslimates and assumptions aboul the carrying amount of assels and liabilities
that are not readily apparent from other sources. The estimates and associated
assumptions are based on historical experience and other factors that are considered to
be relevant. Actual results may differ from these estimates.
The estimates and underlying assLFmplions are reviewed on an on-going basis. Revisions
to accounting estimates are recognised in the period in whiGh the estimate is revised
where the revision affects only that period, or in the period of the revision and future
periods where the revision affects both current and future periods.
3. Income and endowments from:
Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
a. Donations and Legacies:
Donations
1,000
Income from donations and legacies in 2023 related wholly to unrestricted funds.
b. Charitable activities:
Hall hire
Rental Income
9,280
70,875
9,280
70,875
165
71,762
80,155
80,155
71,927
Income from charitable activities in 2023 related wholly lo unrestricted funds.
12

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
Investments:
Bank interest
214
214
151
Income from investments in 2023 related wholly to unrestricted funds.
4. Expenditure on charitable activities
Direct Support &
Charitable Governance
Expenditure
Costs
Total
2024
Total
2023
To provide facilities for recreation and
leisure time
88,061
3,570
91,631
63,858
Analysed as follows:
2024
2023
Direct charitable expenditu￿..
Staff salary costs
Running costs
Insurance
Security and alarm costs
Volunteer Expenses
15,831
63,485
5,641
2.904
200
14.733
38,197
5,868
1,535
88,061
60,333
Support & Govemance costs..
Office costs
Bank Gharges
Gifts
PhotOGopier Lease
Company filing fee
Sundry expenditure
Payroll fees
Accountancy fees
731
139
282
974
34
880
146
250
974
69
373
820
436
974
3,570
3,525
Total expenditure on ¢haritable
activities
91,631
63,858
£nil (2023.. £nil} of the above expenditure relates to restricted funding.
13

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31- DECEMBER 2024
b. Staff Costs
2024
2023
Gross salaries
15,831
14,733
c. Particulars of employees..
The average number of employees during Ihe year wa5 as follows-.
2024
2023
Charitable activily
No employee received emoluments of more than £60,000 during the year.
The Trustees are not remunerated for their services and are not included in the above
number of employees.
5. Tangible fixed assets
There are no tangible fixed assets acquired during the year or held as at 31st December
2024 {2023= none).
6. Debtors
2024
2023
Prepayments
302
4,850
7. Creditors: amounts falling due within one year
2024
2023
Accruals
Other creditors
919
1,061
1,296
610
1,980
1,906
8. Analysis of net assets between funds
2024
Tangible Net Current
Fixed
Assets
Assets
Total
Unrestricted Funds
General Fund
19,334
19,334
2023
Tangible Net Current
Fixed
Assets
Assets
Total
Unrestrictèd Funds
General Fund
30,596
30,596
14

WALTON COMMUNITY & ENTERPRISE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
9. Unrestricted Funds
Movements in the year
Income Expenditure
2024
Reserves
at Beginning
of year
Reserves
at End
of Year
General Fund
30,596
80,369
191,631)
19,334
Movements in the year
Income Expendlture
2023
Reserves
at Beginning
of year
Reserves
at End
of Year
General Fund
21,376
73,078
163,858)
30,596
General Fund is used to finance the charitable company's general activilies as outlined in
the Trustees, Report
10. Restricted Funds
There were no restricted funds received or expended during the year or held as at 315t
December 2024. (2023.. £nil>
11. Lease Commitments
Financial commitments under non-cancellable operating leases relating to a photocopier
lease, this will result in the following payments falling due at 31 sl December 2024.
Photocopier
2024
2023
Operating leases which expire..
Due within one year
974
974
974
974
12. Related Party Transactions
There were no material related party transactions during the year which require disclosure
(2023- none).
13.Guarant8es
As at 3151 December 2024- 5 membeis had given a guarantee of £1 each in the event of
the company winding-up. Total: £5 (2023- 7 members £7).
15