Charlty roglstratlon number 1147328 (England And Wales) Company rgglBtration numbèr 07963955 CORNERSTONE CITY CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Caladine Charlered Certified Accounlonls
CORNERSTONE CITY CHURCH LEGALANDADMINISTRATIVE INFORMATION Trust8 MsAcacia Sooklal MsAbigail Carey Mr Gfiffith Crouch Mr Christopher Nonvood Mr GlaclUwahan Mogaji Charlty number (England and Walos) 1147328 Company numb•r 07983955 Pfln¢lpal addr••• Jasper Centre Comerstong Cty Chur¢h J8sperAvgnue R¢xhe8ter Kent ME12LD R•gl•tsr•d offlc• Jasper Centre Comer81one City Church Ja8perAvenue Rochestér Kent ME12LD Indepondont •x•mln•r John Caladine FCCA CTA FCIE CaladSne Llmlled Chantry House 22 Upperton Road Eastbourne East Sussax BN2118F 8ank•rn Nattonal We51min8ter Bank pl¢ stern Avenug Watèrslde Court Chatham ME4 4RT
CORNERSTONE CITY CHURCH CONTENTS Trustees. report Independent examinerfs report Statement of finandal acllvlll88 statoment of fln•n¢l81 positlon 10 Notes to the financlal 8ts1¢ments 12-23
CORNERSTONE CITY CHURCH TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustee8 present thelr annual report and financial statements for tha year ended 31 December 2024. The financial slal8mfjnts have been Prepared in accordance with th8 accounting policies sel out in note 1 to the financial stalgments and comply wth the charilvs Memorandum and Arb'cles of Assocbatson, the Companies Act 2006 and "Accounting and Reporting by Charllies.. Slalement of Recornmended Practice applicable to chareS preparing their accounts in accordance wllh the Flnanclal Reporting Stsndard applirable in the UK and Republic of Ireland IFRS 1021" leffecliv• 1 January 20191. ObJectlv•i and actlvStlos The Charitys objects for the public benefft are lo athance the Chrf8tian faith, in accordanG& w6th the Statement of Belief8 8ppearing in the Schedylg lo the Articles of A580clalion, in Rochester, Kent and in such olh8r parts of the United Kingdom or the wortd as th8 Trustees may from lime lo Ilme think fit and lo fulfil $uch other purposes thich are exclusively charitable according lo thè law of Engl8nd and Walgs and are connected the charitsbl8 work of the Charity. Our vlslon and m15slon Ss 'To advance tha Christian rellglon by prodaiming and furth•ring the Gospel of God and HIS Son the Lord Jesus Chrlsl and by prtra¢hing and tèachlng the Christian faith. 'To promote Jesus cenlered translomaliffi of lives to regenerate Medway and beyond, Public b8nafll The Iru8tees have pald due rogard to guldance 188ued by the Charlty Comml85ion In declding what activlllès the charlly should undertoke, Achl•vèmants and perforniance The church contlnued lo use the Jasper Centre, Jasper Avenue for mldweek me¢llng$ and on Sundays for the Rochester Community megting¥. It is th¢ office base for staff and administration of CCC. and the staff u88 and rneet regularly in the building. &nce the church multiplied Into 5 Communltles {local congregallonsl, the8e comMune$ hove conllnued lo meet on Sunday mornlngs In 5 separ8te locations across Medway in Hoo Academy. Jasp¢r Centre Rochester, Chatham Ordnance Street Church building (Temporary), Halling Community Centre and Mid Kent College Glllingham. Chatham Community ha$ be8n In communlcation with St John Fisher School about uslng their new bulldlng and 18 hoping lor some movement there soon to make 8 move from Ordnance Street. There Is '811 tog8lher' meeting of 8115 Communhles every 6 or so weeks and after Ea$ler th18 year we trialle uslng Prie$ffield, Gillingham Ilhe Gillingham Football Club Conference Suite). This has provided a lol more space and we have used it up until 3pm including bring and share lunches. The much larger cost hiring this venue18 somelhlng we have begn monitoring along$ide the usefulness of the building and at the end of the year we were uncertain about the cosl-effecliveness of k)nger term use each week. It was felt that il would be an occasional use as needed. We still have use of Mid Kent College IheatTe Ibul we weTe over ¢apaaly al the Easter servicel and Hoo Academy has also been used previously bul c8n be more reslriclive as less central and doesn't have aceess to WThFI for live streaming Ifor those away 8s well as Into 8 baby rooml .
CORNERSTONE CITY CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 We continued to run an INTRO course that introduces new people lo %that we belbeve, our vl&on. vakJ8s and the expectations for 'members' l.e., that they will be committed and connected into the chureh through Sundays, Grow Groups and DNA groups. as well ag serving and giving. all as part of toking steps to grow as disciples, As with the previou$ membershlp formal there are still appropriate limitats'ons lo leadership responsibility and influential roles wthin the church community where there is lad( of connection or shared value$. There 8re around 300 adults and 160 under 18,8 connected to CCC. We bts'nUed to uge our large Iqulet) WhatsApp group that en8bled regular update$ and qulck contsct 8cr088 the whole church. In different seasons It w•$ daily updates whlch includad d8votsonal mgssages. Also, Facebook groups were used for comms and for prayer updates. Tom Healon who this y88r ha5 increased to working lull lime as Ops and Business Manager 15 days a weekl has been a very helpful support across the church in lenns of liaising with Iruslg95, staff members and elder5 and directing communications in various ways. He has conllnued to manage Churchsuile Imanagemenl sofvlaral and so regular emai18, events booking and other updates happen through that platfomi as w811. l other CCC m6elings ware In rGOn, thi8 Includ88 weekly prayer meetings although aftèr our 40 days of prayer and lastlng the p8ttern of prayer meellngs moved lo local Communilles leading each day and praying according to thelr own preference3. Each Communlty took 8 day of the week In a 'passing the b8lon' klnd of way. Chur¢h Income ha8 conllnued lo meet the needs ag8ln thls yèar 88 the church look on addlllonal staff (Tom Increaslng hour8 and new lob role. Joe. Joel and Megan working part lime followlng their ID and inlwn years. Breanna Ellsa doing a part tSme Inlefn8hip followng her ID year. Wè also had a new ID student who joined us from Worthing- Grace. We havè contlnued lo glve approx.10% of our income lo RM as before by standlng order. We review tho giving 88ch year In a trustee meeting lo ensure we are increasing giving as our income increases as a church. In addltlon. our Support of home and overseas mlssion work ¢ontlnue8. In the earfy part of the year £200 per month w85 given to the Day family as they continued their mlsslon work in Mozamblque. £200 8 month was also given to Pioneer 61 {Mozambiquel dlTeclly. The Day lamlly returned to the UK in March (after various challenges and changes in Pioneer 61 leaml. Regular 8UPPOrt was lempor8rily rIreCted lo the Day family lo enable Ihoir r settlement Iln th8 A8hford areal. Flnancial gffts lo Pioneer 61 have also $lopped. The church contsnues to give £100 to Caring Hands in Medway, and other gffts lo the local Foodbank. Support of the work In Bolivla IMi88ion Bolivlal and the Butcher family has continued with a regular £200 going into their Mission Account alongslde other one-off gifts and gifts coming in from othgr churches that support Mission Bolivi8. Adam Voke led the eldershlp team throughout the year together with Julian Pery, Tony Sands and Bwnard Bgntsll. Adam continued working 4 days a week and his wife Susie continued lo be employed for 12 hours 8 week. Julian is now fully retired and able lo give more time lo serving in CCC as Chair of Trustees and leading the Medway Valley Communty. Tony is employed 4 days a week wth f¢¢us tsn pastor81 oversight and small groups and Bernard is involved th pastorel 5UPPOrt. preaching, leading meetings and runnlng the Freedom in Christ course Iwth his wrfe Rosel. Adam's role within Relati(Thal Mission IRMI eonlinLtes thls year as a 'Community' leader for RM. working on behalf of Mike Betts, Stef Liston and Maurice Nightingale. Adam's lime continues to be spread between CCC, RM & Medway Churches. With afound 3 day5 a week on CCC and the other day split betsveen RM and Medway Churches lon average aeross the yearl. This includes attending mentoring meetings and RM relating 9atherings lo represent the church and the RMC.
CORNERSTONE CITY CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The local Medway Leaders Group Is made up of Pentecostsl, evangeli1. tharismalic church leaders. They meet every month for prayer, mutual support and planning of Medway wide 8vonts. The annual retreat for 1.5 days was hekl again al High Leigh in January with guest speakers and b'me for prayer and discusslon. Jullan Pery is Chairman of the Trustees, and 81ong with the trustee team covers personnel issues such as salaTIg8, pensions, 8tsff appraisals. He manages all contact with the Charity Commission ané Companies House and ensures th81 all necessary submissions lo these bodies is completed each year. He ¢entinues lo lead the Medway Valley Community alongside the MVC Core Team. Jullan continues lo have a keen Interest in Mission Bolivla following hi8 visII along wrth others in the previous year. Hope Church In Slttingbourne led by Gordon W8lson, which was planted out from CCC continued lo grow throughoLrt 2024. Gordon and Natalie continue lo lead along ¥th a growing team. The church has now moved lo Fulslon Manor School in the Sittingbourne, as the Cosla Coffee building wa$ becomlng 100 9mall for the gfowbng community. Adam along wth Dave King (T.VVellsl have been involved In mentoring and support, particularly with view to sealng elders appointed Ihere. Regular vi$lls to preach. meet with leaders and tlme th Gordon have pundualèd tha y88r. Georgè Rangelov's role conlinugs lo focus on 'finance and buildings man8ger' and continues to be employed for 2 days a week. George's time is limited due to hls other employed work {nlghlsl and so most of hls Ixus is on the aceount8 and book-keeplng. Rh¢)nda Sands has continued to $orvo the church as 'Evan9eli8m and Integration Leader,. Also preaching and developing our evangelisrn ytralegy. This year Saw the conlinuallon of HoNesl Teams in Medway where there 18 8harlng of the gospel and praying on the 81reets. Video updates from the teams that go out have been encouraging lo the d)urch as reports are glven and 8torles ol th08e receiving the gospel and prayer are celebfaled. Su8ie Voke continued working for the church on a p8rt lime b8$i$ thi$ y¢ar. Her fttus 18 church tsmily mlnlslry. overseeing children'¥ group$, supportlng parentSng InlUallvgs and Lanterns (solo parents, group that has bèen meeting In Josp8r¥ Cafél. She also works alongside Adarn Supporting in a number of leadership and pastoral contexts and Is Involved in wlder RM acuvilies. Tony Sands has ¢onlinu¢d lo work for 4 days per woek throughout the year as an elder and leader whhin CCC, Tony's primary responslbllltles are pastoral care and developing the Groups and Communllies Strategy for the church. with particular focus more recently on developing the new Grow groups across CCC. Tony alorKJ Wth Rhonda continued in leadershlp of the Gilllngham Community with a corè team. Matt Fox h8s ¢onlinued lo le8d the youth work on 8 4 days per week basls. Newday wa$ a highlight as ever th group of 60+ yOLrth *nd add51ional associated ministry loam. RelatSonship8 were bulll and strengthened acro88 the youth, much fun was had and numbers of yOLth responde(J to the gospel and as each year there weré baptisms on return. Joel Felton and Joe Brooks are both al Spurgeon's Bible Cgllege (Joel in year 2 and Joe in year 11 Both are now employed part time for fvKJ days a week a8 Ministy Trainees. Megan Voke is gmployed Ifollowlng her ID yearl in media and ¢omms for 1.5 days a week. Brganna Elisa. has continued in a part tsme intem capacity and Grac8 Ireland ha5 come to Medway as a new ID student, living th family in Hoo and part of the Community there. Tom He8lon has eontbnued worklng wth CCC, increasing to 4 days a week and giving his lime in an increaseij responsibililylrole as '8usiness and Operations Manager,. Developing the policies, proSSeS and structures to enabb th8 church to be legal, compliant and up lo spec. The trustees have been greatly supported and guided in Ih8ir roles due to T¢)m's focus. There is now a staff handtsk, numerou8 pdicies. the implementati of Microsoft Teams and digltal storage as well as updates lo safeguarding processes and organisation of the Jasper Cenlre. IT support and administration support continue5 to be given by Tom to other members of staff a5 needed.
CORNERSTONE CITY CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Becky Meadows continued lo load the Jaspers Café team in Rochester High Street, with growth in numbers of people coming along throughout the year together with associated increased income. Bayas88 Renlsendorj finished working as the main cook for Jaspers and also Y05anne Bays finished her time as 8 staff menJer, New staff members have been taken on and trained including Lula Reily and Nicola Rogers. Ja$p&rs Café IES grown lo the polnt where this year it became ils own entity in terms of legal structure, Jaspers Cafe Cornerstone Ltd, with new dlrectors. The new company is a wholly owned subsidiary of the Church with the purpose lo operate the Cafe in Rochester High Street supporting the oulreaeh and mbsslonal activities of the Church. It remalns connected to CCC who are the sole'memb8rs' with dir8Ctors made up from the church. Th6 Management Team 18 responsible for the Implemenlatlon of the vi8lon as well a5 legal ar bulldlng matters. The team also manages the staffing 8nd adminlstrative affalrs of the church. It comprlses the Iru5t&es (Bol8 Mogajl, A¢g¢ia Sooklal. Chrls NoOOd, Julian Perry. Abi Carey and Grlff Crouch), treasurer (V81 Mogajil, thè Members of the Company IAdam Voke and Julian Pgrryl and they Mel together a number of limes in 2024 ttsgelher with some ad hoc Z¢xm meellngs to pick up on som? pressing matterB. The Management Team has functioned well a$ a tèam over the year. Chri8 Norwood contlnued as a Trustee for CCC. Chrls conllnues In his role as head of a local secondary gill's school and conts'nue$ lo adequatèly manage the workload. He is involved in finance, trust99 and managernenl team meetings. He has also been working c108ely wsth Adam and Julian with r8gard to staff annual reviews. flre stsff appointments and stratY of the church. Valentina Mogali has continued in hef role 88 the Treasurer for the church but also ¢ontrlbutes widely to the MT meeungs. Her timo, effort and contributions are greatly appreciated by the team. Bol8 Mogaji has Served In the churth 88 Trustee for the year. HIS wlsdom and slalure In ChrI81 he been cont'nuous blessing lo Cornerstone City Church. Grlff Crouch continued to bè an invaluabl6 member of the team during this y¢8r, provldlng a88islaru In varSou$ employment issues as he 1$ a local business owner. He continLd to carry oul admlnlslr81ion of CCC staff p8nslons and has begn monaging thls 8uccessfully Ihroughout the year. His experience In management, financial man898menl and systems arè of great benefit lo the church. Griff has beon with the church Since il tegan in 1993. being part of the Vvorship Team. Griff has also been excellent in s8tting up the bapllsm pool for ctraI bapliwn$ •1 Mid Kent Cdlege. Griff has also continued with the central service ho$prtality when we meet every 6 weeks. Abi Car8y continues to Pfovide 8xcellenl advlce on legal Issues affectbng tha Tnjsl, 88 Abi Is 8 801Icllor working for a London Councll's legal department. Abl ha8 been with the church since it began and is very much part of CCC. Acaaa Sooklal has been wilh CCC for many year8 and is a much-r•specled member of thè church, Aca815 pharmacist by professlon and brings her keen buslness 8en8e to Ihg Trust Board. The five Communities that were formed in September 2021 have continued to meet and develop over 2024. The 5 communities formed in 2021 included Rochester, Gillin9h8m, Chalham, Hots Peninsula and Medway Valley (Petors Village, Wouldham. Burham, Hallingl. Community Leaders have continued to meet regularfy th the elders,. this has enabled the elders lo oversee what 1$ happening across the whole church as well 8s providing a context for training (on the jobl as we move toward appointrnent of more elders. The Community Leaders (Bola, Jim, Nal and TKI have been getting ready br this by fjjrther Irainingldiscussion In elder's meetings, attending RM Shepherd lin the case of T.K and Nall and meetsng with Slef Li51on, including as couples with Slef Liston. This was preceded by making proposals to CCC for the new appointments earlier in the year and giving time for feedback and questions. There was a vast majority of affimiation and posrtivity for the appoinlmgnls as well as some helpful que81ions and points Taised, from which we undertook further dlscussion and coaching of those being proposed as elders. Appointments are planfbed for 2025.
CORNERSTONE CITY CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The work in the Santa Cruz area of Bollvia contlnu88 to move fotwards 81 pace. Adam and Sus1& vlsited In May and spent lime wlh the Bul¢h¢r family, both In pastoral support, discussing their own spiritual, marriage and famity health and in visiting the local church and villages where they are building relationships and undertaking mission. It also including being of a 1 OOKM fundraising njn whlch was shared by the team all running a few KM each before swapping around relay Sty whlle others travelled In the 4x4. Isaac was also able to visit tho UK (without Analle and the two girls) for a month. During this lime Isaae was ablè lo visit a number of churches, give updates, strengthen relationships with those Ihal are supporting the work in Prayer and in finance$ and lo vistt family. A$ a church we benefitted from having Isaac with us for an all-logether Sunday and for an evenlng prayer meetlng where updat¢$ were glven on MI8don Bolivia. Tony org8nised a series of meetlng8 to Iraln up new leaders In Jan-Feb and there were about 30-SO people who attended different meetings. Thls resulted In 8 number of new Grow Groups b8lng slartod across CommunS1ies. Todd Morr Imlsslonalmadesimple.com} vislled the UK in May and dellvered a day's training on Mlsslonal Groups al the Jasper Centre which were recordèd for future use. He also had an evening meeting with the elders lo di8CUSS vision and prlnciples for healthy missional small groups. Enno Chinosa, Mel Olubajo and Nik King have continued to lead the Worship Team together and they fom the core team which helps to oversèe worshlp and the development of teams 8Gro$$ the church. Adam keeps In communicallon wlth them and they meel for revlew 8eml-regularly. New muslcians and singers have loined the team and our altOgether Sundays ar8 a good lime of drawng together from across the whole worship team. It has bggn a good context for mentoring, coaehlng and supporting those serving the church in this way. Children's work has continued tc be over8een generally by Susig Voke but with Candida Baldwln as 8 key team member when il comes to planning and admin, Each Community is responsible for Its ¢)wn children's minlslry as gpproprfale In each setting. Youth continues lo be led by Matt Fox, The all-together meetlngs whlch happen every 6 weeks or 80 do usually Include Comerslone Kids unless11 Is planned a5 a Family SeNice bul not normally youth. There was a chlldren'8 weekend away that look place in June in Edenbridgè wlh about 25-30 children along with various children's leaders. A programme of worship and leaching from the Bible w83 interspersed with lols of fun. game8 and frlendshlps bèlng made. The feeiiback from these ekendS 18 masslvely po8lllve. Jasper Jingles continued to meet throughout 2024 with Christina King, Vera Huntsr, Bex Nazar and Jasmlne Healon taking the lead. Frlend8hlps, fun and 8UPPOrt have been offered lo local mum8, dads and carers. There h8s b8on some reflection and discussion on the longer-lerm vi81on and what the next steps might be in 2025. The Connect Group has now slopped meeting.11 enjoyed somo amazing limes together but wlth various hgallh and capacity challenges Pal Is not able to continue leading the team which she has done so well over the years. After discussion and reflection. il was fell that the best ¢ours8 of action was lo stop Connect and lo move to a more ad- hoc pattem of occasional meat ups or for special events. We are grateful to God for all he has done over the years and lo Pal and the team for their tireless effort. creativity and faithful commitment. This has led lo some that have loined Communities or gone onto the Alpha Coum and making commitments lo follow Jesus.
CORNERSTONE CITY CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 During Feb and March 2024, the church went into another season of 40 days of prayor land fa51ingl over the Lent period 18ading up lo Easter Sunday. This year the Communits"es look 8 1884 each week in hosting the meetings which happened in person and some on ZOOM. There were also daily videos from each Communlty that highli9hled the themes for the week or day. CCC continued in relationship with RM wilh regular RM gatherings, some in person and some online. These also Included some evening gathenngs to enable those working In the day to attend. Adam has been In regular meetings with the apostollc team as part of his RM Community leader role. More Together Festival. This took pl8eé in Trinlty Park Ip8wlch 81 the end of August over the bank hollday wllh good number ol adults, childien and youth in allendance from CCC. Adam was involvod in supporting the organl88llon of the evening and Ihls Included hosting durlng the weekend 8nd leadlng one of th8 seMirrs. Audrey Malemera from Medway Valley Community spoke al one of the sesslons {Ihe prayer nighll. The tsedback from CCC was very positive and we colledgd a number of the teBtsmoni&s Into a short booklet on our return. Th1$ Included comments from parents about their chlldren leamlng songs whlch they were 81111 slnging and Spifle thlng8 that God had done or spoken lo Individu81$ 8boul. SENT - RM evenl for students and young adults look plac8 ovgr Ihe new year, Adom and SuBie Voke tre Involved on the team again. The Alpha Course has been run durlng the year and there have been 8 few people maklng Commllmenls lo follow Jesus. CCC held a number of baptisms throughout the year and a big response was from the youth. Following the relum lo Newday (youth fe5tsvall which saw a number become Chnsli8ns, many of them wanted lo be baptlsed. These were held on the 'AII Togelh8r' Sundays al Mid Kent College over a couple of events and there were many %%ho look this slep and shared encouraglng te8timonies of what God had been doing In Ihelr lives. Chlld dedlc8tion8 this year were held separately In each of the communllle¥. There wa$ 1 pgrwn who slgned up for the LEAD course Ihis y•ar together wllh 6 others who are ffinlshlng their second year. It is now the fourth year for our 5 Communilles and we are grateful that they are $lill $tsnding fimi and growingl Getting ready for further appointments of elders h88 been a positive step which will enable us to expand further. Other encouragements are the growih of Jaspers Café to the point that il became il's own entity wth new directors and le9al structure. The priority of prayer in our 40 days of prayer and fasting is a core part of our year and as evor il was a strengthening lime. Our finances continue to rem8in strong with growth In glving a8 the church grows across each of the Communftles. As we enter 2025, we are grateful for God's grace in so many ways and looking ft)rw8rd to another year together as we serve God and the wider communrty. Flnanclal revlew Total income for the year was £513,68712023'. £523,500). Net movement in ftjnds after expenditure and transfers was a surplus of £98612023.. deficit of £29,736). Unrestricted funds at the year end were £125.62312023..121.017) and Restricted funds were £108,27812023." £111.898I.
CORNERSTONE CITY CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 It L8 the polw of tho t8ty Ih8t unrest0 fiJTrJs whirh ha not ba8n d881gn8tsd for i ycjfic u86 8hould m•lntqlned at o level rfuivdent lo bethen three and month's exp8nditura. The trustees eon8klerth&t resgN88 at th18 kvel will ensure thal in t event of 8 8b3nifLont drop In funding. they I11 b? the to ntinu? the ¢harity'¥ ¢urrnt actlvhtk8 118 con$k18raUon 1$ gl¥8n to w8y8 in whlth addilloml dI m•y ba raw. b¥el ol res bg•n m8lnts1d throughoutth¢ y•ar. Stru¢1•• •nd m•n•g•m•nt Th& IRrtty18 8 company Umtted by guarantso and gov0d by tha Memorandum and AW¢les ofA$fjots"on datsd 24th Fobruary 2012 aB amerthd by A cèmcaty of1nc4JQrat7on on thange ol nAm• datsd 25lh March 2014. Tho tnJBto•o. whD 4r• akn th• dlre¢torn fc¢ tho purpom of company law, and who durtng ar1 up to th• tlat 018n•tur8 aftho ffn¥nd•l 8t•l•m•nt• worn.. MIJ1@n P•rry MaAeI So0•1 M•Abyll Cqrny Mr Grlfflth Crouch Mr Chrt6teph•r NoAvood Mr Gbol•oluwthan Mcq•ii (Ro9nl 8 Juty 20251 R•L¥wIml •Thj8pift1rn?ntoftrU8t8& Tnotsga moy h appjintsj by th• •xMling tNs1888 by ordlnlry r•$olulon. Nom olth• trut••# hal any b•n•fidil int•i#it in th? ¢omp4ry. ofth•truoi•8¥ w• m•mb•rn oftlKI ComnY ir guarantee lo ¢onblbute £10 In the Fvent DI q ndIr¥j up. Thw rw PPTo¥•d by th• 8o•rd olTru•t•e•. r chst0pA¢T No Ch•Sr of TrustooB Dqt•'.
CORNERSTONE CITY CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CORNERSTONE CITY CHURCH I report lo the trustees on my examinatK)n of the finan¢i818lalements of CorneT$ton¢ Clly Church (the charity) for the year ended 31 December 2024. Respon$lbllltlos and basls of rèport As the trustee8 of the charlty {and also ils directors for the purposes of company lawl, you are rèsponsible for the preparalon of the financial stslemenls in accordance wlh the requirements of the Companie5 Act 20C6. Havlng satisfied mysdf that tho flnandal ststemenls of the charty are not required to be audrted under Part 16 of the Comp8nies Act 2006 and are eligible lor Independent examinatson. I report in respect of my examination of the charity's financial statements ¢arrfed out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under sedion 145{5)Ib) of the Charities Ad 2011. Indopondent examln•f• statement Sinc8 the charity's gross income exceed&d £250,000, the independent examiner musl be a member of 8 body1151ed in section 145 of the Chariligs Act 2011. 1 confirm that l am qualified lo undertake the examination because l am member of the Assodation of Chartered Certified Accountants, whlch 15 one of the Ilsled bodles. I have completed my examlnalion. I confirni that no mattèrs hav8 come to my 8ttonllon In connection wilh th• examlnalion givlng me cause lo believe that in ony matèrial re8pecI.' accoUnng words were not kept In respect of the charity as required by secllon 386 of the Comp8niés Act 2006. the fln8ncial statements do not accord wllh those record8', or the financial slalements do not comply with the accountlng reqU1MentS of sectlon 398 of the Companles Act 2006 other th8n any requirement that tho financlal slalemenls glve 8 true and fair vlew. which18 ncl a matter considered as part of an independent examination.. or the fjnancial slalemenl$ have not been prepared In accord8neo wlh the methods and princlples of the Slalemenl of Rgcommended Practice for accounllng and reportin9 by charlties applicable lo charities preparlng Ihelr financial $lalements in accordance with the Flnancial R8POrting Standard ap1¢able in the UK and Republic of Ireland IFRS 1021. I have no concem8 and have come across no other matters in connectlon wllh the examinallon lo which attentlon should be drawn In this report In order to enable a p¢oper understanding ol the financial slalemenls lo be reached. John Clladlnè FCCA CTA FCIE Caladine Lbmbted Chantry House 22 Upperton Road Easlboume East Sussex BN21 1BF Dale=
CORNERSTONE CITY CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Rejtrfcted funds funds 2024 2024 Total Unre5trlcted R88trlcted funds funds 2023 2023 Tot•1 2024 2023 Notsg Income from: Donab'ons and legacles Charrtable activities Other tradlng activitie8 Inve8tmen18 393,052 16,258 35,772 68,470 461,522 16.258 35.772 135 338,786 18,710 85,162 157 77.940 2.745 416,726 21,455 85,182 157 135 Tot•1 Incom• 445,082 68.805 513.687 442,815 80.665 523,500 Expendlturn on: Raising fund8 Charltable aclivltie8 41,424 397,348 41,424 471,277 88.747 388.976 88,747 464,489 73,929 95,513 Tot•l •xpndltur• 438,772 73,929 512,701 457,723 95,513 553,238 N•t Incomgllexpondlturo) 6,310 15,324} 986 (14,9081 (14,8281 129,738) Transfers beeen funds 20 11,7041 1,704 111,1431 11,143 Nèt movomenl In funds 11 4,606 13,620) 986 126,0511 (3,6851 (29,7361 Rgconclll•tlon of funds: Fund balances al l January 2024 121,017 111,898 232,915 147,068 115,583 262,651 Fund balanc•s at 31 Dec•mbor 2024 125.623 108,278 233,901 121.017 111,898 232,915 The statement of financial 8Ctivitlos includes all galns and losses recognised in tho yèar. All Income and expenditure derfve from continuing activitles.
CORNERSTONE CITY CHURCH STATEMENT OF FINANCIAL POSITION AS AT31 DECEMBER 2024 Flx•d 4•••t• Prnpety. An1 8tYJ •4uipmart ,970 105.295 9t1,971 105.206 Curmnt a8MI• Tr•d8 an4 oth•rr•e4lvob Cuh •t b•nk •nd in hnd 17 28,4 108.858 5,231 125,9 137,352 13,4221 131,040 13,4201 Curmnt Ihblllll•B N•t ¢un•nl M•ts 133,930 127,e20 Totsi 14Mt• IM• ¢urnnt Il•bNItI•• 233,11 232.916 Th• fvnd• ofth• Qhrlty R•¥trl¢t•d Inc4mo fiJTrl• UnM•idci•d fvnd• 108,278 126,623 111,898 121,017 233.W1 232,916 Th• ¢wnwry l• •ntil•d to Ih• mpIOn from th• iudll r•qu•m•nt wrt•ln•d In 477 of IhD CL47ynkn•Ad 20CO. trth• wrendBd 31 08Mb 2024. Th• dirKtor• othnoWodg0 Imlr f•wMlbilill8fj lor crynptylnq wlth thg reqylremgnts of th• Compnh8 A(120J6 wyth rglpect io accountyrvd r•earth •rKI lh• pr•parAlon offlnandal 8tst•nent8. Th• h8v8 not requlr•J tha compBny to alrtaln an audrt of th flnAnd81 •t•twn•rtt lor IIK• year In qL8lon In 8qdon 478. Thw flrnnd•l •tatthm•nts hqv• t4•n pr•por•d In •c£ordanr th Ih w11e40 Io tothl •m¥ll wp•nlu r•glm•. Th• fina81 BtstWD•nt• r• •pyo¥•d by fv tsuBt••B , Mr Ghdgtophor NoThvood Ch•lrolThi#t• Ctynpany r•gtrOOn numt4r 07963956 IEnGl•nd and 10-
CORNERSTONE CITY CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEM8ER 2024 2024 2023 Notsg Cash flo$ from operitlftg actlvlt108 Cash absorbed by operations 117.0871 {1 S,2731 Inve8tlng actlvltlos Purchase of property, plant and equipment Invostment in subsidiaries Investment Income recdved 18,8431 135 157 Not cash g•neratod Iromllu•od In) Inv8stlng actlvltles 134 (8.8861 N•t d•crna•• In ¢••h Ind ca•h oqulvalonts 116,953) (23,9591 Cash and c88h equlvalenlB 8t b¢ginnlng of year 125,809 149,768 Cash and ¢a•h •qulvalents at •nd of y••r 108,856 125,809 11
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollGle$ Company Inforn)atlon Comerslone City Church is a private company limited by guarantee IncoTpof8ted In England and Wales. The iegislered office is Jasper Centre Comerslone City Chur¢h. Ja$per Av¢nua. Rochester, Kent, ME12LD. 1.1 Accountlng conventlon The financial statements have been prepared In accordance th the charity's Memorandum and Article8 of Association, the Companies Act 2006, FRS 102 'Th8 Financial Reporting Standard applicablé in the UK and Republic of Ireland. l FRS 1021 and the Charities SORP 'Accounling and Reporting by Charltie8.' Stslemenl of Recommended Pfactice applic8ble to charities prep8ring their accounts in accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" leffeGtiVg 1 January 20191. The finanual slalèments are prepared in stèrling, which Is th8 fvnctlonal curroncy of the charity. Mon01ary amount8 In these flnanclal 81alemenls are rounded to the nearest £. The financial statements have been prepargd und¢r th¢ hislorlesl co81 convenllon. The prinupal accounting poliaes adopted arg set out below. 1.2 Golng concern Al the Ilme of approvlng the flnan¢lal slalement3, the trustèes have a reasonable expectation that the charity ha$ ad8qual8 re3ourc8s lo wnlinue in operational existence for the foreseeablo lulure. Thus the IrLBlees conlnue lo adopt the going Goncern bo$1$ of ac¢ounling in preparlng the fin8naal slalemenls. 1.3 Ch•rltabl• fund# Unreslrlcled funds are available for use al the dlscrelion of the tru81ee8 in furtherance of tr*ir eharllable objective3. Reslricled funds are subject lo specific condS1ions by donors or grantors •$ lo how they may be used. The purposes and uses of the reslricled funds are set oui in the notes lo the financi81 slalemenls. 1.4 Income Income is r8cogni$od when th• thanty is18gally entiued lo it after any performance condllions have been mel, Ihe amounts Can be measured reliably. ond il 1$ probablè that income wll be ceIved. Cash donauons are recognised on recelpl. Other donatlons are rectynised once the charlty has been nottfied of the donation. unless performance conditions requirè delèrral of the amount. Income lax recoverable In relation lo dorbalions received under GiftAid or deeds of covenant is recognised al the lime of the donats'on. Lgga¢ie$ are recognised on receipt or otherwise If the charity ha5 beèn notified of an impending dislributs'on, the amount is known. and receipt is expected. If the amount is not known. the legacy is Irealed as a ontingenl asset. 1.6 Expendltvrn Expendlture is recognSsed once there is a legal or conslruclive obligation lo Iransfer e¢onomSc benefit 10 8 third party, il is probable that a transfer of economic benefit5 will b8 required in settlement, and the amount of the obligation can be measured reliably. Exp8nditure is classified by activity. The costs of each activity are m8de up of the totsl of dIt CO8ls and shared costs, including support costs involved in undertakin9 each activity. Direct costs attributable lo a single activity are allocated directly lo that activrty. Shared costs which contribute to moTe than one activity and support COSt5 which are not attributable lo a sin9le activity are apportioned belween those aCtivitS on a basis consistent vthlh the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charge8 are allocated on the portion of the asset's use. 12-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcl•s (Contlnued) 1.6 Propefty. plant and equipment Property. plant and equipment are inth'ally me8sured at cost and subsequently measured at cost or valuation, net of depreciation and any Impalrmenl losses. Depreciation is recognlsed 80 as lo write off the cost or v8luatlon of assets less their residual value8 over Ihelr usefvl lives on the foll¢)wing basis". Building improvements other fixed assets Office computer equlpment 2% 51raight Ilne basis 20% stralghl line basis 50% stralghl line basis The galn or loss arising on thè disposal of an as8el is delormln*d as the difference between the Sale proceeds and the carrying v•lu• of the asset, and 18 recognised in the ststem¢nl ot fln8ndal advitios. 1.7 Mon4urr•nt Inv•¥tments Flxed asset investments are initially measured at Iransactlon price excluding Iransacts'on costs, 8nd are subsequently measured al fair value al each reportlng date. Changes in fair value ar8 recognised in nel incomelléxpendllurel for the year. Tr8nsaclion costs are exp8ns8d 8s incurred. A 8ubsidl8ry Is an entity conlrollgd by the charlty. Control is th• powèr to govern the financl81 and oper8llng pollaes of the entity so as to obtain beneffits from Ils actlvrties, 1.B Impalrmfrnt of non.current 4•g0ts Al each reporting end dale, the charlty reviews the carrying amounts ol ils tangible assets lo determinè whether there is any indlcallon that those assets hove suffered an Impalmient 1085. If any such IndallOn exlsts, the re¢ovèr8ble amount of the 8ssel is eslirnaled in order lo determine the exlent of the impairment loss lif any). 1.9 Cash and ¢•8h •qulv4lènts Cash and cash equivalents include cosh in hand, deposi18 held al call wlh banks. other short.lemi liquld invo$lmenls ¥Mth original malurilie5 of three months or less, and bank overdfafts. 8ank overdrafts are shown within borrowings In current liabilitie5. 1.10 Flnancl•l Instrum8nts The charity has elected to apply the provi$ions of Section 11 'Bg8ic Finandal Instruments, of FRS 102 10 all of its financial Inslrumenl8. Finan¢ial instruments are recogni5ed in tha charity's balance sheet when the charlty becomes party to the contractual provisions of the instrument. Financial assets and liabili118s are offset, with the nel amounts presented In the financlal statements, when there is a legally enforceable right lo sel off the recognlsed amounts and thera is an Intention lo settlg on a nel basls or to realise the assgt and settle the liablllty slmu1tangouy. Bosic financial ass•ts Basic Ilnancial assets, which include trade and other receivables and cash and bank balances, are inltlally measured at Iransadion price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constblules a finanang transaction, where the transaction is measured al the present v81ue of the future r8ceipls discounted al a market rale of inlorest. Financial assets classified as receivable within one year are not am0Sed. 13-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles {Contlnuedl 8aslc Ilnanci•l liabilitles Basic financial liabililles. Including trade and other payables and bank loans ar• Inltlally recognised at transaction price unless the arrangement conslitules a financing Iransaclion, where the debt instrument is measured al Ihg present value of the futufe paymfjrbls discounted al a market rate of Interest. Finanaal liabilili8s classified as payable within one year are not amortised. Trade payables are obllgations to p8y for goods or seCeS that have been acqulred in the ordlnary course of operations from suplerS. Amounts payable are clas5ifi8d as current liabilities if payment is due wthin on& year or less. If not, they ats presented as non-currenl liabilities. Trad8 payables are recogni8ed Initlally at transaction price and $ubsequenlly measured at amortised cost u51ng the effective interest mèthod. D•rncognltlon of fln•nclal Ilabllltlos The financial slalemen15 have been prepared with early appllcatlon of the FRS 102 Trfennial Revlew 2017 amendments In lull. 1.11 Employee bonefSts The cost of any unu8&d hollday enllllement18 recognl$¢d In th6 perlod In whSch the employ¢e'8 servlc88 are recelved. 1.12 R•tlr•m•nt benoln• Payments lo defined conlribudon rerement bengfi18chem•s are charged as an expènse 88 they fall due. Crftlcal accountlng o•tlmats• and Judgèm•nts In th• appllcallon of the charity's acc¢unUng pollcles, the trusl8e8 are requlred to make ludgemenls, eslim818s arKI as8umpllon8 about the carrylng amount of assets and liabilitses that are r1 roadily apparent from other tsourees. The 881imales and associated assumptions are based on histori¢81 oxpeilence and other faclcrfs that are considered to be relevant. Actual results may dlffer from these eslimales. The estimates and underlying assumptions are revlewed on an ongoing ba8ls. Revisknns lo accounting eslimales are recognised In the period in which the 8stsmale is revised where the revision affeds cnly that period, or in the period of the revision and future pwlods where the revision affects both current and future periodg. 14-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlon8 and logacles Unr•strlcted Re5trlctod funds funds 2024 2024 Total Unr•strlct•d Restricted funds funds 2023 2023 Total 2024 2023 Grft ded donallons Non Gift Aided donaUons Income tax receivable 280,593 40.348 72,111 31,989 28.484 7,997 312,582 68,832 80.108 234,135 45,540 59,111 36,218 32,668 9,054 270,353 78,208 88,185 393,052 88,470 461,522 338,786 77.940 418,728 Incomo from charltablo actlvltl Unre•trlGt8d Restrlct•d fund• funds 2024 2024 Total Unre¥trlct•d R•strlcted fundi lund• 2023 2023 Totsl 2024 2023 Charltable actlvltles Income from conferences & teams Other incom• Other reslric*ed Income 13,743 2,515 13,743 2.515 17.185 1,525 17.185 1,525 2,745 2.745 16.258 16,258 18,710 2,745 21,455 Incom• from othor tradlng actlvltles Unre8trf¢tod Unr68trlcted fundg funds 2024 2023 Ja4)er8 Cafe 35,772 85,182 The activllle8 of the Jasper8 Cafe were transforrgd to a separat8 trading company from 1st May 2024. Income from Inv•¥trn8nts Unrnstrlcted Re8trlct8d fund¥ funds 2024 2024 Total Unre8trbctsd Restrfctsd funds funds 2023 2023 Total 2024 2023 Interest rec8ivable 135 135 157 157 15-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendliure on ral8lng fund8 untriCted Unr•strlctod funds funds 2024 2023 TradSng costs Jaspgrs Cafe Stsff costB 15.811 2S,613 39,093 49.654 41,424 88,747 Jasper Cafè costs cover the perlod from 1 January 2024 to 30 April 2024 when the a¢llvllle8 P888ed lo a separate trading company EJ(pfrndltum on charltabl• actl¥Stl•¥ Charltable actlvltles Ch8rllabte acb'vilies 2024 2023 Dlrnct C08t• S18ff costs Depredation 8nd imp8lrment In8uran¢e and repalr8 Mln18ty expensas Events Sundry- Evangellgm. Youth and others 209,384 5,325 63,110 4, 168 33,076 23,100 178,185 5,325 52,027 4,691 29,144 20,622 338.161 289,994 Grant funding of actbvltl68 (see note 9) 101,487 128,300 Share of •upport •nd govornanco costs {seè note 101 Support 31,629 48,195 471,277 464,489 Analyslg ty fund Unrestricted funds Restrict9d funds 397,348 73.929 368,976 95,513 471.277 464,489 16-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Charltable actlvltk8 2024 Charitable activities 2023 Grants to inslutIonS.. Relational Mlsslon Mls&on Bolivia Jo81 F811on Revelation Church Caring Hands Foodbank Homes for Gcw)d Wlll & P•rv Comparat Joe Brooks Relallonal Mission - Mlkg Bett8 Mls$lon Moz8mblque ID Students Pioneer Mlssion Other 4.800 52.714 4,000 4,800 1.200 600 600 8,540 75,969 3.000 4.100 1,200 800 600 1,000 4,000 4,800 12.286 2,600 4,800 4.307 11,500 10,000 5,917 5,874 101,487 128,300 10 Support co•ts allocatsd to •¢tlvlt 2024 2023 Travel costs loliday contsrènces & team8 Administration expenses Govemance costs 10,562 9,048 6,901 5.118 10,819 26.775 6,910 1,891 31,829 46,195 Charitable activities 31,629 48,195 2024 2023 GovoTnance costs comprf88: Independent gxaminalion fees Accountancy Leg81 and professional 600 1.080 3,438 600 720 571 S,118 1,891 17-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Net movement Sn fund8 2024 2023 The nel movoment in funds is staled after chargin(CredItIngl'. Fees payable for the independent examination of the tharfty'3 flnandal stslements Depreciation of ¢)wned property, plarrt 8nd ¢qulpment 600 5.325 600 5,325 12 Truste None of th¢ Iru$less lor any per80n8 connected wllh them) receiv•d any remuneration or ben8flts from th9 charity durlr4J the ye8r12023 . nil). Donation8 received from Tru$t¢•$ and related partles in the yeai amounted to £39,52012023.. £48,8S21. 13 Employe The average monthly number of emplDy888 during the year was.. 2024 Numb•r 2023 Number 11 11 Employment cost• 2024 2023 W8g68 8nd 8al8rf88 Sccial 8ecurily cost8 Other pgnsion ¢ost5 214,757 11,310 8,930 207,118 10,494 10,227 234,997 227,839 There were no employee8 who88 annual remungratlon wa5 more than £60.0thJ. 14 Taxatlon The charity is exempl from taxation on its activities because all its income is applled for charitable purposes. 18-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 1S Property. plant and equlpmont 8ulldinu Imwovom•nts otlr fixed Ollico computor aqulpmert Total Cost Al 1 January 2024 148,857 25,870 9,534 184,061 At 31 December 2024 148,857 25,670 9.534 184,061 Deprnclatlon and Impalrment Al 1 January 2024 Depreciation charged In the year 50.057 2,977 20,140 1,383 8,569 965 78,766 5.325 At 31 Decemter 2024 53.034 21,523 9,534 84.091 Carrylng amount Al 310eGember 2024 95.823 4.147 99.970 At 31 December 2023 98,800 5.530 105.295 There 18 no record of the orlglnal ¢o$l of the Jasper Centre and hi8todc8lly no amount ha8 been 8hown In the accounls.. Bullding Improvem¢nl$ r8pre$8nl the inltial fegs and cogts of work involved wth th¢ extenslon lo the Jasper Centre. 18 Flxed a88•t Investrnents Oth•r Inv•stments Cmt orv•luatlon At 1 January 2024 AddltiCn8 At 31 Dember 2024 Canylng amount Al 31 December 2024 At 31 December 2023 At 31 December 2024 there was a loan a¢t baLance of £21,563. Thls represents the ownership of Jaspers Cafe Cornerstone Ltd (company number 15672940), a wholly owned subsidiary which operates a eommunily cafe and missional cJtreach for church based In Rochester. 19-
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Flxod asset Investmgnts Icontlnuodl 2024 2023 Other inve8trnen18 comprise- Nolos Investments in subsidlarle8 17 Trade and other roG•lvabl•B 2024 2023 Amoun1• falllng duo wlthln one year: Amounts ¢)wed by Subsldlary undertakln98 Other recelvables 21,563 6.933 5.231 28,496 5,231 Therg is an amount of £21.563 ttjrrenlly owed to tho Church by Its subsldi8ry, Ja8per Café Corngrsbne Llmited. The eompany has currently 8 deficlt. The Trustees are MOnOring the shuallon and laklng steps to try and safeguard the88 funds. They are in dlscu8slon wllh the company dlr8Ctors lo help generate pront5, In order lo repay these funds. 18 Current Ilabllltl•• 2024 2023 Other payableB A¢¢ruals and deferred Income 1,380 2.042 3,420 3.422 3.420 19 Retlr•ment boneflt schgm 2024 2023 Dellned contrlbutlon •cheme8 Charge to profil or loss in respect of defined contribulon schemes 8,930 10.227 The ch8rty opgrates a defined contllbution pension scheme for all qualifying gmployees. The asset5 of the scheme are held separately from those of the tharty in an independ8nlly administered fvnd.
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Restrlcted funds The restricted funds of the tharty comprisè thè unexpended balances of donations and grants held on trust subj8Ct lo spocific Gondits'ons by donors as lo how they may be used. At 1 January 2024 Incomlng resources Resources exponded Tran8f8rn At31 Docembor 2024 8ulldlng Fund Family Fund Bolivia Mozamblque 98,800 12,134 12.9771 111.431> 152.714) 16,8071 95,823 3,280 9,175 2,577 61.889 4.139 1,704 111,898 68.605 173,9291 1,704 108,278 Pr•vlous yoar. At 1 J•nuory 2023 Incomlng r¢•ource# ResovfC•• exp•ndod Trnnsfern At31 De¢ornb•r 2023 Building Fund Family Fund Bollvia Mozamblque 101,777 13,806 12,9771 15,0671 {75,969} 111.500) 98.800 12.134 3,395 64,828 12,464 11,143 115,583 80,685 {95,513} 11,143 111,898 The Bulldlng Fund The 8ulldlng Fund represents the cost of capSlalised work8 to the Jasper Centro1o$¥ d•preciatlon. Famlty Fund The Family Fund con81818 of reslricl8d donallons for the relief of h3TdBhip for members of thè church communlly. Bollvla The Bolivla Fund consists of restricted donations lo support Ihe development of a mission centre in Bollvia. The transfer In 2023 of £11,143 was made from unrestricted funds to Covgr the excess of payments over receipts in the year. Mozamblque The Mozamblque Fund consists of restricted donations lo support mission in Mozambique. The transfer in the year ot £1.704 was made from unrestricted funds to cover the ex$$ of payments over receipts in the year. 21
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Unre5trlcted funds The unreslricled fund5 Of the charity comprise the unexpgndod balances of donatsons and grants which are not subject lo specific conditions by donor5 and grantors as lo how they may be used. These indude designated funds which have been set asitje out of unreslricled funds by the trustees for speclflc purposes. At 1 January 2024 Incomlng R880urces resources expended Tran8fvrn At31 D•cgmb•r 2024 General frJnd$ 121,017 445,082 1438,7721 {1,7041 125,623 Prnvlous yo•r.' At l J•nuary 2023 In¢omiTrg Rosource• resources expend Tran•f•r• At31 December 2023 General fund8 I47,8 442,815 1457,7231 111,143) 121.017 22 Analy•l• of not as•ets b•twM•n lundi Unro¥trScted fund• 2024 RtrIctfrd funds 2024 Total 2024 At 31 December 2024: Property. plant and oqulpmont Investments Current asse1811liabillties) 4,147 95.823 Q9,970 121,475 12,455 133,930 125,823 108,278 233,901 Unrestrlcted funds 2023 Rgstrlctsd funds 2023 Tot•1 2023 At 31 December 2023: Propety, p18nt and equipm9nt Current assetsl{liabililiesl 6,495 114.522 98,800 13,098 105,295 127.620 121.017 111,698 232.915 23 Relat party transactlons There were no disclosable related paty transactions durlng the year12023- none).
CORNERSTONE CITY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 24 Sub8ldlaTles These financlal 8lat8ments are separate charity financial statements for Cornerstone Cty Church. Details of the charity's subsidiariès at 31 Decemter 2024 are as follows.. Namo of undertaklng Regl$ter•d officè Naturg of bu$ln088 Class of % Held Shares held Dlroct IndlreGt J88per Cafe Corner6tone Ltd Cafe Ordlnary 100.00 The aggregate cala1 and reBerve8 and the result for the year of subsidiarias exduded from con8didalion was as follow8.' Name ol undertaklng ProflVILossl C•pltal #nd Jasper Cats Comerslong Ltd {12.568) (12.5671 26 C••h absorb•d by 0rntIOn• 2024 2023 Surplusl{deficill for the year 986 129,738) Adlustmgnts for. Inve8tmenl income recognl8ed In Statement of financlal actlvrtiog D8preclatlon and ImpaIent of property, plant and equipment 11351 5,325 11571 5,325 Movemonts In vffjrklng capltal: {Increaselldecrease In trade and other receivables Increase In trade and other payables {23,285) 6,475 2,820 Cash ahorb•d by operntion8 {17,0871 115.2731 -23-