Company re8lstration numbèr: 07509401 Charlty registration number. 1141112 Cornerstone Christian Fellowship {A¢ompany limited byguaranteel Annual Report and Financial Ststements forthe Year Ended 31 january 2023 Field Sulllvan Umr(ed 9 Hare & Billet Road Blackheath SE3 ORB *ACF45204' 2eJ1012023 COMPANIES HOLISE
Cornerstone Christian Fellowship Contents Reference and Admlnistrat>ve Details Trustees. Report 2to4 Independent Examlner's Report Sto6 Statement of Finandal Attb4rlles Balance She 8t09 Notes to the Financral Statemènt5 IOto19
Cornerstone Christian Femowship Reference and Admlnlstratlve Detalls Trustt•s Mr Stephen Balderston Dr Theodore Balderston Mr jonathan Smith Dr Yves-yannick Ford Charlty lteIratI Number 1141112 Company Regtstratlon Numbor 075(VJ401 Tonbridee Gospel Hall Bishops Oak Ride Tonbridge TNIO 3Nr lffdependeht Examin Aeld sullivan Limited 9 Hare & Billet Road Blackheath SE3 C& Babthers Natwest 130 High Street Tonbridge Kent TN9 IDE Page I
Cornerstone Chrfstian Fellow5hlp Trustees, Report The trustee5. who are directors for the purposes of company law. present the annual rèpDrt together with the financial statements of the tharitable compary for the Year ended 31 January 2023. ObledlTftS and atth4tles Objects andalms The churth'5 object is the advancement of the Christian faith Wofldwide and in fuifjlnn8 that objert it may, amon8St other thinas, estsbllsh churches and comrnunity ntre5, carry oui and dirert discipleship evan8eli5ti£ missionary and ecumenit31 actiffji, admFnister or support trainin& pro*ide adwce resourtès and serveS to those afferted by XIa1 and etonomic circumstsnces and promote or or8aTrTrse programmes to enga8e young people in the community- In order to fvffil these obJert5 the charity tstablished a ¢hufth fellowship in the Tonbridge, Kent area. The activities of the chorlty during the year included the pro¥i5ion of a churth buildlng to permS1 Chrlstlan worship. 81ble study, prayer and fellowship accordin8 to the guidance found irb Acts 2..42. DuriTr£ the year these ctivities were ¢onystenYy maintaineil. The trustets also probryded suPrt and 8uidan¢e for tommunlty benefit actlvf(ies and outreach to bring the chrisb.an gospel to the local community and beyond. Flnancial support has also been grwen to Christian mission work and urgerrt short-terni rellef. Publ1¢ benefit The trustees Confirm that they have cofflplied wrth the requirements of seth.on 17 of the Charities Art 2011 to have due regard to the public benefr"t guidance published bythe Charity Corrtmission for En8land an(1 Wales. A¢hIevemts and perfomiarKe Re8ular service5 are held for Christian worship. Bible study and prayer. along with a weekly Sunday School in term time. Local outreach events have been held whenever PLsIble. Increased online awareness has generated greater discoverability and increased 'dropin' attendantes at seNces.. In order to keep the hall in good and presentable condition. fttrther works to irnprove catering provision are in pro8ress. We continue to, plan further work5 to enhance the building strurture and sound and vi5i0ll tapabilityfor services. The trustees again glve thanks to God for His blessin& and acknowled8e His faithfvlness kn callire us into the fellowship of his Son, Jesus Christ our Lord11 Corinthians 1.91. The charity 15 grateful for the support wovided by volunteers, are mernb2rs of the thurch. in providi help with open events. publicity. catefin& minor mainten¥nte and other similar activities. Financial review The trustees are pleastd to report a surplus fortht yew on unrestrirttd funds of £28.96012022- £2.8641. Page 2
Cornerstone Christian Fellowshlp Pollcy on resen It Is the policy of the church that unrestrhrted funds which have not been deslgnated for a specthc use should be rnaintainèd at a minlmum level equivalert to between three and six month'5 expenditure. The trustees consider that reserves at thls level wtll ensure that. in the event ol a sigfttfitant drop in funding, they wll be able to continue the church's current aciiwlies while consideraiion is •'ven to ways In which additional funds may be ralsed. The unrestricted reser¥es lincludin8 des18nated re5eThesl held as net current assets at the end of the year were £132,69312022'.£107,9661 which represents more than thè annual expenditure of the charity. However, the trustees are buildin8 reserves as they Intend to imwove and. In due course, expand the property to allow a greater range of charitable actiwties to be wrsued. Rlsk revlew The trustees have assessed and addressed the major rfsk5 to which the thurth is exposed. These risks primarily relate to the areas of lil feguard1ftE of thildren lill 5ecurtty of the property and safety of the public when accessing it and liiil financial risk. The tru5tee5 are Satisfied that actions have been taken and reserves are in place to mltigate exposure to the major risks. In partlcular. fire safety audits are PeTl¢allY carried out and a prograrnme of work has been done to improve access and intfease buildin8 security. The trustees also montltor safeguarding policies and DBS thecks, in consultation with experts in thls field. The level of financial reserves and holdin8 offvnds in in FSC>prote¢ted bank accounts reduce the finanaal risk to a very low level. Trustees and offlcers The trustees and officers 5eNn6 dn£ the year and Sir the year end were as follows: TrusteÈs-. Mr Stephen 8alderston OrThelore 8alderston Mrjonathan Smith Dr Yve5-Yannick Ford strUcle• gavernaftce and managemÈnl The thurch Is a company limited by 8uarantee. None of the trustees has any beneficial interest in the company. All of the triistee5 are members of the company and guarantee to contribute £10 in the e¥ent ol a wonding up. Trustees are appolnted by existin8 trustees Tltho familiarise new trustees with their respons1"11t1eS. The thur¢h is administered by the trustees. Pa8e 3
Cornerstone Chrfstian Fellowshlp Trustees, Report The trustees Ivrt are also the dlrertors of Cornerstone Chflstian Fellowship for the purposes of company lawl are respon%ble for preparing the tnJstees' report and the financial Statements in accordance wlth applitablÈ law and Unlted Kingdom Accounting Standards (United "edOM Generally Accepted Attounting Practice), including FRS 102 "The Financial Aeportine Standard applicable ift the UK and Republic of Ireland". The report and accounts have been prepared in accordance the provisions in the Companies A¢t 20[6 relating to small companies. Company law requires the trustees to prepare financial 5tements for eath financial year. Under tompany law the trustees must not approve the financial statements unless they are satlsfied that they si a true and fair ew of the state of affalrs of the charitable tompany and of thè incoming resotsrces and applitation of resources, Inclvdin8 its income and expenditure, of the charltable company for that period. In preparlng these financlal statements. the tTVStee5 are required to-. select sultable accounting polities and apply them conslstently. observe the fflethods and principle5 in the Chafitles SORP- make jud8ements and estimates that are reasonable and prudent: stste whether applicable accountir stsndard5. comprising FRS 102 ha¥e been followed, subject to any material departure5 dlscjosed aftd explained in the financial statements: and prepare the finanual statements on the goin8 ioncern basis Unle it is inappropriate to presurne that the charitable company will continue in bu&ness. The trustees are responsible for keeplng proper accounting records that can disdose with reasonabje accuTary at any time the financial position of the charitable company and énable them to eft5urè that the flnantial statements comply wth the Companles Act 2(XJ6. They are also responsible for safeguarding the assets of the charff¢able company and hence fof tak*n8 reasonable steps for the prevention ard detection of fraJJd and other irregularities. The trustees are responsible for the malntenance and irntegrity of the corporate and fSnancial information included on the chafitable company's website. Legislation 8overning the preparation and dissemination of financial statements may differ from le8islatlob) In other lurlsdictions. Small tompanlès Pro10n statemeiit This report has been prepared in occofdan¢e with the small ¢ompafiies reglme underthe Companies Act 2006. Thè annval r rt was appr¢)ved bythe tDJStees of the tharryon 13 October 2023 and svdned on its behalf by.. Mrjo Trustee an Page 4
Cornerstone Christlan Fellowshlp Independent ExamIne$ Report to the trustees of Cornerstone Chrlstlan Fellowshlp I'the Companv.) l Teport to the charrty trurtees Iwho are also Th"redors for the purpose of ¢ompany lawl on my Èxamlnation of the accounts of the Comerstone Christian Fellowship I'the thafitsble tompanVI for the year ended 31 January 2023 which comprlse the Statement of Financial Artmtyes, the Balance Sheet and related notes. Thls report is made solety to the charws trustees, as a body, in accordance sertbon 145 of the Charrties Act 2011. My work has been undertaken 50 that I might state to the charitrfs trustees those matters l am required to state to them in this report and for no other purpose. To the fvlle5t extent permitted by law. I do not attept Of assume responsilmlity to anyone other than ihe tharity and the charitys trustees as a body. for my work. for this report. or for the opiniws I have formed. Rsponslbllhles and basls of rwrt As the charl$ trustees of Cornerstone Chrislian Fellowship you ère responsible for the preparation of the acctsunts in a¢¢ordan¢e with the requirements of the Companies A¢t I'the ACVI. HaviTrg satlslied Mlf that the arcounts of Comerstone Christian Fellowshlp are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my eMaminati¢rt ol your charivs accounts as orried ¢ut under sertion 145 of the Chartties Art 2011 1.the 2011 ACYI. In carryinq out my examination I have fdlowed the [rett10n5 givèn by the Charity Commlssion under section 145{51(bl of the 2011 Art. An Independent e¥amination does not In¥ol¥e 8atherinB all the ebrydence th would be required in an audit and consequently does not ¢o¥er all the matters that an audfjtor considers in giving their opinion on the flrtranaal statements. The planning and conduct of an audit zoes beyond the Ibmited assur4nre that an independefit examination can provide. consequent l express no opinlon as to whether the flnancial statements Present a 'true and fairf Mew and my report is limited to those specffic matters set out In the independent examinerfs statemènt. Independentexamlnerfs slatemenl I have coMeted my txamination. I confimi that no matters have Come to my attentton in connection with the examinatlon 8ivln8 me cause to believe.. accounting record5 were not kept in respect of C¢xnerstone Christian Fellowshlp as required by sectlon 386 of the 2006 Act,. or 2. the accounts do not atcord those records: or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2CQ6 Act other than Iny requirement that the accounts Éi¥e a true and fair view, which is not a matter considered as part of an indepèndènt exambnation.. or 4. the ateounts ha¥e not been prepared in accordance with the methods and principles of the Statement of Recomrnended Practice for accountlng and reporting by charibes applitable to ¢harities preparing their accounts in accordance wth the Financial fteporting Standard applicable in the UK and f¢epubllc of Ireland IFRS 1021. I have no concerns and have tome %ross no other matters in Connecti with the examlnatlon to which attention Should be drawn in this report in order to enable a proper understanding of the accounts to be reathed.
Comerstone Christian Fellowship Independent Examlner's Report to the trustees of Cornerstone Chrlstlan Fellowshlp (*he Company,) Tim Sullivan FCA Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 OA8 Pa8e 6
762M lSJ$5 10.7S0 718 2&t4)5 TL8 Charitaba¢iThits 478 TotalinLome 5ll(Al 7F277 14333 17PJI 123.14B {L189LI 135.OJ9) 113A 146nl 122,14 Tot?lÈyndttur I3$ 113A691 la6781 122.147) NEtlncom 5.654 T11[5 bef*Yenfur 1n.iii NptnirNernErtin fvtyjs iJ75 117Q3211 5ts54 Tatallurh15broLyhtlgatd .731 18L571 289.302 Tots11LTh45rrd1W¥d 317.666 19.525 337.194 294.95S Py7
Cornerstone Chrfstian Fellowshlp IRe$tratIOTr number: 07509401) Balance Sheet as at 31 January 2023 2022 Fl¥ed ass Tangible assels li 184,973 1,340 Currant aHets Debtors Cash at bank and In hand 12 13.270 147,073 4,332 112.034 13 160.343 116,366 Credllors: Arnwntsfalllry due T1 one year 14 18,1221 12.1501 Net currert assets 152.221 114,216 Totsl assets le55 ¢urr•nt Ilabllltles 337.194 295,556 PYo¥lslons 15 16001 Net assets 337,194 294.956 Funds olthe tharlty. Restrlrted Incom• lunds Restrided funds 19.528 6,250 Unr*strlrted Income funds Unrestrltted funds 317.666 288,706 Total fvnds 16 337.194 294.956 For the financlal year ending 31 January 2023 the tharity was enthled to exemption from audlt under sectlon 477 of the Companles Act 2(M% relating to ynal companies. tlrectors. responslbllltSe5'. The members have not requSred the charlty to obtain an audit of its ac£ounts for the year In questlon in accordarhce with sectiw 476: and The direclor5 acknowledge therr responsibilitles for COMY1n& V•th the requirements of the Art with respÈrt to atcounting records and the preparation of accounts. These fSnancial statements hève been prepared in accordance ¥Ath the special pro¥lsions relatln8 to companle5 subjKI to the small wmp•nies rtyme within Part 15 of the Companie5 Art 2(X)6. The notes on page5 10 to 19 ftym an integral part of these financlal ststements. Page 8
Cornerstone Chrlstlan Fellowshlp (Registratlon number: 07S09401) Balance Sheet as at 31 January 2023 The financial #atements on paees 7 to 19 We approved by the trustees, and authorised for issue on 13 Ortober 2023 and siÈned on their behalf trr. Mrjo athan Trustee The note5 on paoes 10 to 19 form an integral part ofthese finandal ststements. Paee 9
Cornetstone Chrfstlan Fellowshlp Notes to the Flnan¢lal Statements forthe Year Ended 31 January 2023 I Chailty stw% The ¢harlty Is limited byguarantee. Incorporated in. and consequentfy dots not have share capltal. Each of the tiustees is liable to contribute an amount not ex¢eedlng £10 towards the assets of the tharity In the event of liquidation. The address of its registered office is: Tonbrid8e Gospel Hall Bishops Oak Ride Tonidge TNIO 3NT These finantial statements were authorised for issue by the tru5tets on 13 October 2023. 2 Acountlw polld•s Summary 015i¢nllkant acMuntlTr8 poll¢les and key at(ountlnie511m•tss The prlnclpal accountlng poliues applied In the Preparati( of these financial statements are set out below. These policies have been consistendy ap[¢d io all the years presented, unless otherww stated. statment ol compllanc• The flnanclal statements have been prepared in accordance with Attouirtin8 and Reporting by tharities.. Statement of Recornmended Practice applicable to chartties preparing their occounts in a¢cordarce wlth the Finartcial Reporting Standard appliCae ID the UK and Republic of Ireland IFRS 1021 leffective l January 20191- Icharities SORP IFRS 1021 Secwd edition (ktober 20191. the Finanoal Reporting Standard applicable ift the UK and Republic of Ireland IFRS 102). They also comply with the Companies A¢t 2006 and Charrties Art 2011. Basls of pr•paratlon Cornerstone Christian Fellowship meets the definition of a public benefit entity under FRS 102. Assets and Ilablllties are inrtially reco8nised at historicol c05t or tr3nsaction value unless OthenlIse stated in the relevant accountlng policy notes. GOI concern The trustees consider that there are mateffjal uncertainties ab¢Mrt the tharivs ability to tontinue as a goln8 con¢em noi amy significant areas of uftcertainty that affert the carryin8 Wdlue of assets held by the char¢ty. Pa6e 10
Cornerrtone Chrfrtlan Fellowshlp Notes to the Flnanclal Statements for the Year Ended 31 January 2023 ludymonts and key sourwol estknalkn unc•rtalnty In the application of the charrVs atcotsnting policies, the dirertos are required to make judgements, estimates and assumptions about the carryin8 amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experlence and other factors that are consrdered to be relevaftt. Actual results may differfrom these estlmates. The estimates and undeflytng assumptions are re¥iewed on an ongoing basis. Revisions to èccounting estlmates are recognlsed in the periods in whlch the estimate 15 revised where revisions Jffects only that period. c* in the period of the re¥i5ion and f4rture peritxls where the revisions affects both current and hjture perlods. Income and enknents l income is reco8nised once the charity has entÈtlement to the intome. it is probable that the incomè VAII be receiv2d and the amount of the income receivable can be measured rellabty. Donations are recognised when the charity has been notified Trn writing of both the amount and settlement date. In the event that a donation is subj-ert to conditions that require a lebtl of performance by the charity before the charity is ent]ed to the funds, the income is deferred and not reco8nised untll either those ¢onditions are ful mel or the fvifilment of those conditions s wholly within the control of the tharity and It is Probable that these condrtions wll be fulfilled in the reporting period. InvtStm•ntlncame Dividend5 are recolnised once the diwdend ha5 been dedared and whjtffication has been reteived of the divldend due. £xpeDdlture All expenditure rs recognised once there is a legal or construrtNe obligation to that expendlttrre. rt is probable settlement is required and the amount can be measured reliably. costs are allocated to the applicable expenditure headingthèt aggregate simiLir Costs to that category. Where costs cannot be dirertFyaTtributed to partlcular headin8S they hève been allocated on a basis consistent with the use of SoUrCeS. with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the assevs use. Other support costs are allocated based on the spread of staff c175ts. Charitable expenditure cornprise5 those costs incurred by the tharity in the delNery of its aCtiwtTres and seThices for its beneficiaries. It includes both corts that can be allocated dirertly to such actiwties and those osts of an indirert nature nece$5ary to SUPWt theffl. Grontyovlslons Provisions for grants are made when the Intention lo make a grant has been communicated to the reclpient but there is uncertainty abo either the ts.ming of the grant or the amouni of grani payable. Page 11
Cornerf<one Chrfstlan Fellowshlp Notes to the Flnanclal Ststements for the Year Ended 31 January 2023 Support £{ts Support tosts include central funrtions and have been allocated to actibryty cost categorie5 on a basls (s1$tent with the use of resovrces. for example. alltKathn8 property Costs by floor areas. or per caplta. staff tosts by the tlme spent and other costs by their usage. Governan c¢)slS These include the costs attrilxrtablè to the thartys compliance 7Mth constitLrtional and ststutory requirements, includin8 audit, strategic mana8ement and trustee5 rneet1n and rèimbursed expenses. Taxatl The charity is considered to pas5 the te5t5 5tt out in Paragraph I Schedule 6 of the Finance Art 2010 and therefore It meets the definhtion of a charitable compamt for UK corporation tax purtKsses. Accordingly, the charity is Potentialfy exempt from taxation in respe¢t of income or tapital gains received within categories covered by Chapter 3 Part 11 of the Cwporation Tax Acr 2010 or Sertion 256 of the Taxatlon of Chargeable Gains Act 1992. to the extent that suth incorne or gains are applied exdusNely to charitable purposes. T•n£ltsle Ilxed assets Individual fixed assets Costirrf £S(YJ.LX) or more are initially re¢orded at ¢ost. less any sybsequent accumulated deprtcfdlion and subsequent atcumulated impaim)ent losses. DePlatIOn and amortItIon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estlmated residual waluè. Over their expected useful economic life asfollows: Trade debtors Trade debtors are amounts due from customers for rnerChand sold ty 5eN¢es performed in the ordinary course of buslness. Trade debtors are reco8nlsed In6tialty at the transèrtion price. They are 5ub5t4uentty weasured at amortised cost using the effective intwest method, less yoNision for impairment. A provision for the Impalrment of trade debtors Is established wthen there Is objectNe evidence that the charity wll not able to colled all amounts due according to the Orinal tsrffl5 of the recervables. Cash and ¢¥h equ11¢nts Cash and cash equNalents comprise cash on hand and tall de[Sits, and other short-term highly Ilquid investments that are Teadily ¢on¥ertible to a kn amount of cash and are subject to an insigniflcant risk of Change in value. Provtslons Provisions are recoBnised when the charity has an obligation at the reportinB date as a result of • past event, it is probable that the charitywill be required to 5ettl¢ that obli8atKJn and a reliable èstimate can be made ol the amou of the obli8ation. Paee 12
Cornerstone Christian Fellowship Notes to the Flnancial Statements for the Year Ended 31 January 2023 Fund Wucturn Unrestricted Income fvnds are general fun(ts that are available for Use at the trnstees dlscretion in furtherance of the obje¢t5ves of the tharity. Restrirted income funds are those donated for use in a partKular area or for specific purposes, the use of whlch is restricted to that area or purpose. 3 Income from donallons and le8xles Unr•strlcQ•d lunds General Total 2023 Tots 2022 frjnds DDnations antl leoac*s; Donations from indidualS 42.659 8,416 20.315 4.854 62,974 13,270 22,273 4,332 Gift aid reclairned 51.075 25.169 76.244 26,605 4 Income from tharltable 4cd¥llles Total 2023 T¢)t•l 2022 Other thurch activitie5, dubs and events 718 5 In¥¢ment Incom• Unrestrlcted fvnds Géntral Totsl 2023 Total I2 Interest recefvable and similar incorne: Interest receivable on bank depos 1.033 1.033 478 P4e 13
Cornerstone Christian Fellowship Notes to the Nnanclal Statements for the Year Ended 31 January 2023 6 Ewndlture on chafltsbl• •cthilll•s Unrestrfcted funds General Total 2022 funds 2023 Ueht, heat and power 1.109 479 1.109 479 977 450 Insurance Local 0rea(h Sundfies 1.471 1,471 485 61 Ministry and ¢hur¢h aclivities 225 225 302 Comrnunications 357 357 319 Repairs and maintenance 2.275 6576 8,851 1,878 Youth and children's work costs 205 205 8,407 Depreaatlon. amortisation and other similar costs Grant tundln@ of artNities li 2.253 2253 2,254 12.715 l.S74 5.315 18,030 1.574 4,850 2.109 Support costs 23,148 11.891 35.039 . 22,147 7 Analys15 of VernanCe and support Costs Support Costs funds General Tolal 2023 Total 2022 Ac¢ountsnty Independent examination Administration costs 824 824 1,325 750 750 1,574 1.574 2.109 Pa8e 14
Cornerstone Christian Fellowship Notes to the Flnantlal Ststements for the Year Ended 31 January 2023 8 Grnnt4naklno Analyth olorts Grants to Insfftud¢ns 21112 Grantsto IndIdual5 Anatysls Cross Teath Trust Indlvidua15 16,230 3.650 1.21Kl 16.230 3.650 9 Trusto•s r•muneratlon and exper No trustees, noi any persons connected with them. ha%E rtteid any remuTrtrnon from the charity durlng the year. No twstees have received any other beneffts from the tharity duringthe year. Two trustees wère rambursed £317 of expww durlng the year 12022: trurtees were 1mbur5ed expenses) 10 Tèxatlon The charity is a fegistered charityand ts therefore èxempt from tsx3tK. Pa8e 15
Cornerstone Christian Fellowshlp Notes to the Flnandal Statements for the Year Ended 31 January 2023 11 TaltsIe Ilmed assets nd and bulldl Fumityreand equlpment Total At l February 2022 Addition5 202,234 2,885 S.886 20S.119 5,886 At 31 January 2023 202.234 8.771 211,5 Depfedatlon At l February 2022 Char8e for the year 20.894 2,219 2,885 23.779 2.253 At 31 January 2023 23.113 2.919 26,032 Net bt)¢*wdlue At 31 January 2023 179.121 5.852 184,973 At 31 January 2022 181.340 181,340 12 Debtor5 1022 Other debtors 13.270 4,332 13 Cash ind c•sh equfv4thts 2022 Cash on hand Cash at bank 857 111,177 147.073 147.073 112.034 Page 16
Cornerstone Chrlstlan Fellowship Notes to the Flnandal Ststements for the Year Ended 31 January 2023 14 Credltors: amounts falllwd du• F*lthln on• •1 2022 Other creditors Accruals 5.886 2.236 450 1.7¢xJ 8.122 2.150 IS Prty414on$ Grants made Total At l February 2022 Utilised durin8 the period 6OJ At 31 January 2023 The grant provision arise5 fn>m a commiknent made to beneficiarles Provisions are classified based on the amounts that are expected to be settled within the nèxt 12 months and aftèr rnore than 12 months from the reporting date. as follows- Within the next 12 months Enll After 12 months £nkl Page 17
Comerstone Chrlstlan Fellowship Notes to the Flnandal Statements for the Year Ended 31 January 2023 16 Fund5 8•lante al I FelYu¥ry Balance at YlJanuary 2023 In¢omln Trnnslevs Unrestritted funds fjefteml General Fund5 52.108 123,1481 317,666 Re#rfrted lund5 Speclal offerin8s fund 6,2SO 25.169 111.891) 19,528 Total fiMd5 294,956 77,277 135.0391 337.194 Balance at I Febnthry IornIn0 Re5W¢S Balance at 31Januiry 2022 Unrestrkt•d funds Genernl General Funds 106.731 16.333 113.4691 179.111 288.706 R•strlrt•d fvnds Building fvnd Speclal offerinos fund 181,321 1,250 {3.4fy]1 15,2181 {177.8611 11.2501 11.468 6.250 182,571 11.468 18,6781 1179,1111 6.250 Total funds 289.302 27,801 122.147) 294,956 The spedfic purposes for whlth the funds are to be applied are a5 follows: The building fund is for the aqui5ition, development and fuinishing of prernises for the thurch fellowship. Since all fund5 8iven for this purpose have been spent, the trustees have transferred the balance to unrestrtrted funds. The spetial offerings fund Ss for various monies raised from time to ts.me fw speofic purposes. Pa8e 18
Cornerstone Chrfstian Fellowshlp Notes to the Flnanclal Statements forthe Year Ended 31 January 2023 17 Analys1$ af n•t ass•ts betwetn funds Totsl ldI at 31 January 2023 funds Restrlrted lynds Tan8ible fixed a55ets Current assets Current liabilities 184.973 140.815 18.1221 184.973 160,343 18,1221 19.528 Total net assets 317.666 19,528 337,194 Total funds •t 31 January 1022 nds Tangible fixed a$5ets Current assets 181.340 110.116 12.1501 181.340 116.366 12,1501 Cvrrent liabilitie5 Provisions Total net assets 288.706 6.250 294,956 L8 Relaied partvtrans1Otys Durin8 the year donattons of £27.32512022418,402 wert received from trustees and relatèd parties. Page 19