Cornerstone Collective of
Churches
Report and Accounts
Year ended 31 July 2024
Stewardship
Active generosity
1 Lamb's Passage, London EC1Y 8AB
.slewardship.org.uk

CORNERSTONE COLLECTIVE OF CHURCHES
COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024
Trnstees
A Craig
N Forsythe
D Heyboum {resigned De￿rnber 20231
L Home
M Ntherry
S Robinson
A Ta￿Or
J Walsh (resigned De￿rnber 20231
A Wood
Key Stsff
G Osbom
C Simons
P Elms
Governing Document
Memorandum and Artides dated 6 July 2012 as
amended by Certtfic2te of In￿)rpOratIOn on change
of name dated 10 September2018, as amended on
23 January 2023.
Company Registration Number
08133846
Charity Registration Number
1152099
Registered Office
Comerstone Church
Dovedale Road
Liverpool
Merseyside L18 1DW
Indgpgndent Examingr
Sarah Crispin ACA
Stewardship
1 Lamb's Passage
London
EC1Y8AB
Bankers
HSBC Bank plc
Nat West Bank PIC
Contents
Company lnfomiab.on
Tnjstees. Annual Report
Independent Examinerfs Report
Statement of Financial Ath"vilies
Balan￿ Sheet
Cashflow Ststement
Notes to the Accounts
Detailed Statement of Finarrial Activities with Comparatives
Page
10
11-19
20
Page 1

CORNERSTONE COLLEcfivE OF CHURCHES
(FORMERLY CORNERSTONE CHURCH, LIVERPOOL)
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2024
The trustees, who are the chariws directors forthe purpose5 of company law, have pleasure in submitting the
Report and Accounts for the year.
Objects of the charity:
The charity is a charitable company and is governed by its memorandum and articles of association. The objetts
of the charity, as Set out in the governing document are:
l. To advance the Christian faith through the public preaching of the gospel
2. To demonstrate the Christian faith through the training of men and women for Church leadership,
parentlcarer and babyltoddler groups, teaching and training of children and young people, involvement
in community activities- including the planting of local gospel communities and planting churches.
3. In accordance with the Statement of Beliefs in the areas of Liverpool, Merseyside and in such parts of
the United Kingdom and the wider world as the trustees may from time to time see fit.
Government:
Responsibility for setting policy and for making operating decisions rests with the trustees who meet regularly to
monitor the activities of the charity. New trustees are recruited and appointed by the existing trustees, by a
majorityvote.
Review of Activities:
In planning the activities. the Trustees have considered the guidance on public benefit issued by the Charity
Commission.
In the last 12 months we have seen membership across the majority of our churches continue to increase
overall, however. a period of leadership upheaval in Cornerstone Church Wirral has resulted in a small decrease
in membership at that church. leading to the number of adult members decreasing across Cornerstone
Collective as a total from 230 to 222. The partnership we formed with Orrell Park Baptist Church in 2022. where
we sent a small team of members to support a revitalisation of the church in North Liverpool, has strengthened
over the same period and although they are not run by Cornerstone Collettive at this time, we are delighted to
witness a growth in their membership. This is a wonderful outworking of our charitable objectives continuing via
our partnership with Orrell Park Baptist Church.
We have continued to prioritise the work the churches have been doing with children and young people in our
church communities throughout this financial year. Across the churches there are regularly around 100 children
aged 11 and under who participate in 'Kids' Church, (time spent teaching children about God and the Bible. as
well as building relationships with each other} on Sunday mornings, alongside the main church services. Older
children and young people have a weekly group available to them at Cornerstone Liverpool (for young people
across all Cornerstone Collective Liverpool based churches), Cornerstone Wirral and more recently established at
Liberti Church, where they gather socially and to study the Bible, with extra social events on occasion as well.
Attendance at these groups averages around 40-50 young people each week. Cornerstone Wirral additionally
ran a 'weekend awaV for their youth and it was hugely encouraging to have the young people from that church
enjoy the activities and study the Bible - helping develop their own understanding of God and the Bible. In
addition to these Bible-based settings we also run parentlcarer and baby/pre-school sessions on a weekly basis
which are designed to welcome people into the Liverpool, Wirral and Hope churches for a time of support for
the adults, and stimulation and learning through play for the children. An average of around 150 people have
been attending these various groups weekly this past year. which has been a real blessing to all involved.
no
including the attendees- this also contributes to the fulfilment of our 2 charitable objective.
The Cornerstone Collective Training and Coaching area of our work continued to be worked on this past year,
with a number of churches/leaders connerting with us for support and training, helping us fulfil the charitable
Page 2

objectives further. We have run multiple'mini conferences. for leaders of Merseyside churches where Pastors
can share and pray together and whole church leadership teams can gather for lunch and teaching afterwards.
These have been received very positively by the church leaders who have attended. A significant source of
ongoing partnership with churches not run by Cornerstone Collective has been seen through our work with
Orrell Park Baptist Church, and also with another church in Southport who has been in receipt of support and
advice on their future actions to revitalise their church. During the 2023-2024 financial year we continued to
work on our partnership with Acts 29 GB functioning to support and catalyse church planting across the UK as
well. as per objective 2.
Remedial work has continued on the building used by Cornerstone Church Liverpool. but at a continued slower
pace due to the complexity of the work required, especially when working to integrate the restrictions that are
placed on a Grade 11 listed building. The main project has been the restoration of two large stained glass
windows, and at the close of the financial year this work was well underway with an anticipated completion date
in Autumn 2024. Further fundraising for the building is now required to address water ingress issues in the back
hall sertion of the building (previously almost untouched by our workl as dry rot has set in in one area. This
clearly requires immediate attention and a rapid plan for stopping the spread and having the funds in place to
do so and this is being worked on as the new financial year begins. Cornerstone Church Wirral has benefitted
from its previous investment in upgrading their building, but some structural concerns have been identified in
the rear building of the church, so this work is a focus moving into the new financial year as well, with a
fundraising strategy for this church building also required.
Another point of note for Cornerstone Church Wirral is to acknowledge the leadership changes that have taken
place at the church during 2023-2024. as this was unexpected for the church and the charity. The church
members and congregation has felt the impact of the resignation of the Lead Pastor in (effective January 20241,
and a small number of individuals/families left the church as a result. As the financial year ends however, we are
greatly encouraged by the way others in leadership in the church, supported bythe wider leadership of the
other Cornerstone Collettive churches. have managed this period of change, and it is wonderful to report new
growth in the number of people coming to Cornerstone Church Wirral at the close of the financial year- we are
grateful to God for his provision and protection during this period.
On a hugely positively note, our churches and organisation ended the financial year on 31" July 2024 with a
financial surplus in our 'General' fund lour operational finance stream. separate from restricted and designated
funds) which is fantastic, and as a Christian organisation we thank God for this. This position enables us to
reinvest in the charity and plan for the future in a healthy, stable financial position.
Charity law requires us as Trustees in the role of the Directors of the Charity to prepare financial statements for
the accounting year 2023-2024 which gives a true and fair view of the state of the Charity, specifically in terms of
its income and expenditure for the year. This includes us:
l. Seletting suitable accounting policies and applying them consistently
2. Making judgements and estimates that are reasonable and prudent
3. Stating whether the applicable accounting standards have been followed. subject to any material
departures disclosed and explained in the accounts
4. Preparing the financial statements on a 'going concern, basis unless it is inappropriate to presume that
the charity will continue in business
5. Being aware that we are responsible for keeping adequate accounting records which disc105e, with
reasonable accuracy at any time. the financial position of the company and which enable us to ensure
that the financial statements comply with the Companies Act 2006.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent
fraud.
Financial Review
The Cornerstone Collective of Churches has spent the year securing running four churches and partnering with
Orrell Park Baptist church as well. and we are pleased to report that the financial profile has remained stable,
Page 3

thanks to the generous donations of people who attend the churches and the associated gift aid claimed on
eligible donations, both of which are utilised to fund the general operational costs associated with the charity
and churches le.g. salaries of staff and church running costs). allowing the funrtioning of the Collettive and its
churches to continue to move forward in their work. The leadership change at Cornerstone Church Wirral has
led to unexpected expenditure, but we have managed to complete the year without entering financial deficit as
a result of this.
The work on Cornerstone Church Liverpool's building has continued to focus on the restoration of the 'at high
risk, stained glass windows this year, and the grants secured for the work have been retained in spite of
significant delays in the work resulting from complications in the design, manufacture and installation of the
stonework in this project. The kitchen at the church was another focus of financial investment this year, and
with a large grant and some additional smaller donations. the kitchen has been transformed from being almost
unusable into a facility to the serve the church and its community. Both of these aspects are greatly
encouraging, but the financial year end for the building work is now in deficit- fundraising for the building is a
high priority for the church.
A further area in which the organisation has been financially blessed has been the support received for Hope
Church's Food Pantry'Hope Fridge,. It launched the food pantry in January 2023, opening for 2 hours each
Thursday and supplying around £25 of food for a £3.50 donation from clients. It has been a massive blessing to
the local community and it was blessed with £47.730 (between l August 2023 and 31 July 20241 in grants and
donation5 to keep it running each week.
Linked to Hope Church is another ongoing financial blessing. this time in the form of the funding received from
The Message Trust for the Eden Team Lead role linked with the church. This role is part funded byThe Message
Trust over the course of a three-year arrangement with them. with the funding reducing each year as the
individual employed seeks other avenues of funding for the role over time. In 2023-2024, £14,225 was received
from The Message Trust for this role. with £3,902.51 in additional donations from other sources. alongside the
remainder of a grant received in the previous financial year from the FIEC. This funding is incredibly helpful in
securing the financial stability of the role and allows the work in the local community to continue. As we move
into the 2024-2025 financial year. the funding from The Message Trust ends (August 20241 so the longevity and
financial security of this role is being planned for in light of this shift.
The final significant source of income worthy of note from 2023-2024 forthe charity is from Acts 29 GB, as the
formalised secondment of three members of staff from Cornerstone Collective to Acts 29 GB started in
September 2022. This has been for the Director of the Collective for 2 days per week, the Operations Director
for I day per week, and the Lead Pastor of Cornerstone Wirral I day per week, but with the Lead Pastor of
Cornerstone Wirral stepping down from that role in September 2023, and then the Dirertor and Operations
Director also ending their roles in summer 2024 a5 Acts 29 decided to move their GB operations to their Europe
office, the arrangement ended at the close of the financial year. During 2023-2024 however, the income
received for these roles was a substantial £27,254. which has consequently enabled the finances of Cornerstone
Collective to be used for more purposes across the Collettive and its churches, as less dirett income has been
utilised for payroll.
As we move into the 2024-2025 financial year there is an additional financial consideration for us to plan for.
Cornerstone Collective has decided to partner with Grimké Seminary in the USA on a projett to set up a Bible
seminary for church leaders and planters in Europe- Grimke Europe. To support the work taking place in this
partnership project, Grimke Seminary is providing additional salary contributions in 2024-2025 for two of the
Cornerstone Collective employees who are fulfilling roles in the project. The partnership is a really exciting
opportunity for Cornerstone Collettive. churches in the regions and wider Europe as the training it provides will
be invaluable for us achieving objective 2 further.
Overall, the finances of the general functioning of the organisation have been managed well. The (general
operating) expenditure of 2023-2024 was £525,739 with the income being £484,547, ending the financial year
with a general operational deficit of £41.193. Looking at the broader income and expenditure of the charity. and
including all restricted funds received and spent the charity has made a small surplus. Budgets have been
Page 4

produced for the 2024-2025 financial year to ensure that all donations we receive are used in accordance with
Charity Law and to aid the charity to meet its charttable objertives.
Moving into 2024-2025, we are financially stable but are also acutely aware of the broader economic context of
the U K. in which we function. Recent historic rising inflation and interest rates may well impact the level of
donations received by Cornerstone Collettive of Churches. and the ongoing high price of gas and elettricity is
hitting the running costs of the churches harder as fixed-term contracts for buildings owned by Cornerstone
Collective have ended and higher costs are brought about as a result. Therefore, we must operate our planned
budget with clear prudence to ensure that we can continue to function if our income decreases, or if our
expenditure increases beyond what we have anticipated. As the organisation has increased its employed
numbers over the past few years, we are also looking to increase the funds we hold in our contingency fund to
provide longer term financial security for our operational costs.
The trustees remain determined that none of the financial undertakings distrart us from the charitable aims and
objectives of the charity- to spread the Gospel of Jesus Christ and the Salvation he offers across Merseyside,
and we remain truly thankful to God for his financial provision and protertion of His churches. The unrestritted
surplu5 the charity wa5 left with at the end of 2023-2024 will be reinvested in the charity to ensure that meeting
the charitable aims and objectives continue to be our focus. We have committed to continuing in these
endeavours and financially we will work hard to allow this to continue with growth of the existing churches, as
well as planning to plant and revitalise new ones as opportunities to do 50 arise.
Reserves Policy
The charity recognises its responsibility to pursue a healthy financial position to help safeguard the aims of the
charity and its staff. Finances are reviewed monthly. and the Cornerstone Collettive of Churches budget
considers how we can protect, and potentially grow, our reserve to ensure our long-term financial health and
sustainability.
Due to the nature of the charity and its aim5, it 15 not unexpected that from time to time the Cornerstone
Collertive of Churches might function with an operational deficit. However, at any given time, and whenever
Possible, it will endeavour to hold three months of salary payments {equivalent to approximately £82,000 as of
31 July 2024 when including employer pension and Nl contributions} in the bank as a financial reserve as a
means to comply with the Code of Governance for Charities and IPC'S IGuideline 6.3. 11. This is incorporated into
our contingency and general fund, which is identified clearly and reviewed regularly. Restricted fund5 are not
considered. except to the extentthat they are available to fund salary costs.
The level of unrestricted general cash reserves as of 31" July 2024 was around £53,000. After analysing existing
funds, cash flow Iwith income from regular givers remaining broadly stable) and forecasting expenditure based
on planned attivities. Cornerstone Collective of Churches considered this to be an appropriate reserve at the end
of the financial year. Although lower than the amount needed forthree months of salary payments, some of the
restricted funds le.g. Hope Church Fund) can be utilised for salaries of individuals to offset the total unrestricted
amount needed. This amount and approach is reviewed on an annual basis, as well as being adjusted when new
staff are first employed to ensure that there is capacity to increase the cash reserves over time should this be
required in order for the charity to comply with Guideline 6.3.1 mentioned earlier. As previously mentioned. the
Trust Board have decided to aim to increase the level of funds held in the contingency fund over the course of
the new financial year to ensure we remain financially prudent.
When it is not possible to maintain our financial reserve to the agreed levels. Cornerstone Collective of Churches
is committed to taking sensible steps with the Elders and staff to ensure that the Collettive of Churches
continues with its charitable aims. whilst also demonstrating the appropriate financial restraint. In these
instances. the regular income and regular expenditure is a key consideration, and the reserve would be used in
the following ways:
Fulfilling current obligations (bills and fixed operational costs)
2. Payment of Staff Salaries
Page 5

Due to the nature of the Cornerstone Collective of Churches, activities it is possible to reduce other monthly
expenditure quickly, but it must be noted that this would influence the ability of the churches to fulfil their
vision and charitable aims.
The Cornerstone Collertive of Churches is also committed to increasing its regular income on a consistent basis.
particularly as the Collective of Churches grows (numerically in individual churches as well as in the total number
of churches in or partnered with the Collectivel, but it also reseNes its right as a 'faith-based charity, to trust
God for such financial provision. The demographic of the Cornerstone Collective of Churches membership and
our various partnerships should also add another layer of confidence if the financial reserve was breached.
Risk Statement
The Directors have reviewed the risks to which a small charity operating with few employees is exposed.
Appropriate procedures are in place to identify. monitor and review these risks on a regular basis.
Approval
This report, which has been prepared in accordance with the provisions of the Companies Act 2006
relating to small companies, was approved by the trustees on (date): Feb 5, 2025
and signed on their behalf by:
Matthew Newberry, Chair of Trustees
Page 6

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
CORNERSTONE COLLECTIVE OF CHURCHES
{'the Company.)
I report to the tharity trustee5 on my examination of the accounts of the Company for the year ended 31
July 2024 on pages 8 to 20 following, which have been prepared on the basis of the accounting policies
set out on pages 11 and 12.
Responsibilities and basis of report
As the charity s trustees of the Company (and also its director5 for the purposes of company law) you are
responsible for the preparation of Ihe accounls in accordan￿ with the requirements of the Companies
Act 20￿ {'the 20￿ Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of
the 20(E Act and are eligible for independent examination. I report in respect of Tny examination of your
charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Acl')- In carrying
out my examination I have followed the Directions given by the Charity Commission under section 145{51
Ib) of the 2011 Aol.
Independent examinerfs statement
Since the Company's gross income exceeded £250,OCK] your examiner must be a member of a body
listed in section 145 of the 2011 A(A. I confimi that l am qualified to undertake the examination because I
am a member of Ihe Institute of Charte￿d Accountants of England and Wales, which is one of the listed
bodies.
I have completed my examination. I confimi that no matlers have come to my attention in connection
the examination giving me cause to believe".
accounting records were not kept in respect of the Company as required by section 386 of the 2006
Act., or
2. the accounts do rbot accord with those records" or
3. the accounts do not comply wth the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fairf view whith is not a matter considered as part of
an independenl examination- or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charities applicable to charities preparing their
accounts in accordance with the Finanual Reporling Standard applicable in the UK and Republic of
Ireland {FRS 102).
I have no concerns and have come across no other matters in conneclion with the examination to which
attention should be drawn in this rewrt in order to enable a proper understanding of the accounts to be
reached.
Sarah Crispin ACA
Institute of Chartered Accountants in England and Wales
stewardship
1 Lamb's Passage
London
EC1Y 8AB
Date: Feb 6, 2025
Page 7

CORNERSTONE COLLECTIVE OF CHURCHES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
Total
Funds
2024
Total
Funds
2023
Unrestricted
Funds
Restricted
Funds
Nole
INCOME AND ENDOWMENTS FROM:
Donations
Charitable ath'vities
Other Irading activities
Other income
465.682
195
18.860
182.502
39.505
648.184
39,700
18,860
580.662
35,907
21.564
1,644
Total income and endowments
484,742
222.006
706,749
639.777
EXPENDITURE ON:
Charitable activities
527,086
171,665
698,751
624,638
Totsl expenditure
527.086
171,665
698,751
624,638
Net incomellexpenditure)
{42.344)
50,342
7,998
15,140
Transfers between funds
14
87.817
187.8171
Net movement in funds
45,473
137,4751
7,998
15,140
Reconciliation of funds:
Total funds brought forward
814,893
147,530
2,423
947,283
Total funds carried forward
14
110.055
970,421
962.423
The statement of financial actiwties indudes all gains and loS￿S recognised in the year.
l income and expenditure derive from continuing operab'ons.
The statement of financial ath'vities also complies the requirements for an income and expenditure account
required by the Companies Act 2006.
The notes on pages 11-19 form part of these accounts.
Page 8

CORNERSTONE COLLECTIVE OF CHURCHES
BALANCE SHEET
AS AT 31 JULY 2024
Total
Funds
2024
Total
Funds
2023
Unrestricled
Funds
Restricted
Funds
FIXED ASSETS
Tangible assets
792.477
792.477
763.255
792.477
792.477
763.255
CURRENT ASSETS
Debtors
Cash at bank 8rKI in han(1
10
11
12.114
69.451
9.713
106.330
21.827
175.781
9.985
196.037
81.565
117.774
199,338
206.153
CREDITORS: Amounts falllng
duè within onè year
12
{13,6761
17,7191
121,3951
{6,9841
N•t currènt assèts I Iliabilitièsl
67,889
110,055
177,944
199,168
Total ass•ts lèss eurr•nt liabilitiès
110,055
970,421
962.423
TOTAL NET ASSETS
860.366
110.055
970.421
962.423
FUND BALANCES
Unrestricted Funds
General lurKIs
Designated funds
14
843.542
16.824
843.542
16.824
860,366
801.717
13.176
814.893
Restricted Funds
110.055
110,055
147.530
860,366
110,055
970,421
962.423
Ttr* charitable company is entNled lo exemption from audTt under Section 477 of ihe Corryanies Act 20(h5 for the year ended
31 Juty 2024
The members have not required ihe company to obtain an aLhYil of ils finanual statements for the year ended 31 Juty 2024 in
accordan￿ vath Secbon 476 of the Companies Act 2006 hos%ever. in atcordance %%Yth Section 145 01 the Charities Act 2011,
the acGounls have been exatnined by an indepetKlenl examiner and their report ha5 been induded in these finan(ial
statement5.
The directors I￿0 are the charitable compan15 Iruslees ft>r putpose5 of chartty law) acknovledge their iesponsibililies
(al ensuring that the charitabk company keeps arrx)untiThJ reex>rds exbmrty wth Sections 386 and 387 of the
Companies Act 2006 and
Ibl preparing finanual statement5 *thich give a true arKI tsii wew of the State of affairs of the charitable company as at the
end ol each finanaal year and ol its net income or expendrture for each finanaal year in accordance wth the
requirements of Sections 394 and 395 and ¥%hich otheTh%ise compty %%ith the reqU1￿MentS of the Companies Act 2006
relating to finanual staten*nts, so far as appli{*b￿ to the charttabk company.
The finanryal stslemenls have been prepare(l in accoidan¢% ￿1th the provisions of Part 15 of Gornpanies Act 2006
relatiro to small companies.
The finanryal statements ￿Ere approved by the Board of Directors and %%ere sig1￿d on its behalf by..
Matthew Newberry
Date".
Feb 5, 2025
Company number..
08133846
Charity number..
1152099
The notes on pages 11-19 fomi part of these attounts.
Page 9

CORNERSTONE COLLECTNE OF CHURCHES
FOR THE YEAR ENDED 31 JULY 2024
CASH FLOW STATEMENT
Note
2024
2023
Cash flows from operating activities..
Nel cash provided by/(used in) operating activilies
107.076
98.011
Cash flows from investing a￿[vitIes.
Purchase of property, plant and equiprnent
Net cash provided by/(used in) investing activities
127.332
1127.3321
81,606
181.6061
Change in cash and equivalents in the repo￿ng period
Cash and equivalents at the beginning of the year
120,2561
196,037
16,405
179,632
Cash and cash equivalents at the end of the y&7r
175,781
196,037
Note a.. Reconciliation of net incomellexpenditure} to net flow from opernting activities
2024
2023
Net income/{expendityreJ for the reporting pwiod (as per the statement of financial
activities)
7,998
15,140
Adjustments for:
Depreciation chaiges and prowsions for impaimient
Ilncreaseydecrease in stod(s
Ilncreaselldecrease in debtors
Increaselldecreasel in creditors
Net cash provided by (used in) operating activities
98,110
11,6001
111.8421
14,411
73,600
(1301
10,098
16961
107.076
98.011
Note b.. Analysis of cash and cash equivalents
2024
2023
Cash al bank with immediate access
Pety cash
Total cash and cash equivalents
175,771
10
196,037
175,781
196,037
Page 10

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Statutory Inforniawon
The charity is 8 charitable company lirnrt8d by guarantee and is in0x￿rated in th8 Unrted kn'ngdom. The cornpany's registered number
and r8gister8d office address can b8 found on the Company Infomatson pag8.
Accountlng Pollcle$
These financial statements are prepared on a gomg eTh)cÈm basis. under the historKa u)st ￿nVention.
These financial stalernent5 have LEen prepared ID accor£lance wilh the "Staternent of Recommended Pr3ctice. Accounting snd
Reporting by Charities prepsring their accounts In ￿￿ordanCe wrth the Financisl Reporting Siandard applicable in the UK and Republic
of Ireland IFRS 1021 I'the Chanties SORP'I with the Finanoal Reporting Standard applicable In the United Kingdom and Republic of
Ireland l FRS 102 1, wrth ihe Compan￿$ Act 2006 and wth the Charities Act 2011. The charity meets the definition of a public benefit
entity as set out in FRS 102.
The principles adopted in Ihe p￿paration of the ffinanci4 ststements a￿ set out bek)w.
The trustees (who are the Charitab￿ cmipanys dir￿lorS forthe purposes of company lawl have assessed whether the US8 of the going
contsm basis is appropriate and have ￿n￿dered rx)ssible events or conditions that might cast ￿9n￿t￿nt doubt on the ability of the
charity to continue as a going crJnc*m. The tnjstees have made this assessment for a pemd of al kasl one year from the date of
approval of the finanoal statements. In pa￿Cular the tru$tee$ have ￿n$1*ye￿ the d)arity's fo￿(￿$1$ and projections and the posgble
implications Shou￿ projected income and l or eXpendrfCU￿ vary unexpethd￿. The trustees have ￿ncluded that tt)ere is a ￿asOnable
expe¢tstion that the chanty has adequate resources to continue to operate for the fo￿see8b￿ ftjfure. The charity the￿ftsre continues to
adopt the going con￿￿ bas15 in preparing rt5 fillan0￿ staternents.
bl Income
Income Induding Investment income is recognised in Ihe pericmy in which the charity tÉo)mes entrfed to receipt. the amount retsivable
can be me8sured with reasonable certainty. and re￿Ipl is probable. For the most part, Inc*Jme is gènerally recognised when It is
re￿1ve￿. Income is only deferred when the charity has to conl￿on$ befo￿ be￿MIng entrfled to it or Whe￿ the donor ha$
speofied that the ino)me is to be expen¢Jed in a futu￿ Kericrfl.
Incorne from donations indudes..
Recoverable gitt aid. This is ￿￿gnised when the donation is re￿￿e£l. Grft aid that has not been ￿cove￿ by the
balance sheet date is Induéed as a deblor.
ill Donated tscilitie5. serv1￿5 and gooyJ5. Faultbes, ser¥￿eS and goods Lbnated for the chaTtty's own use are recognised a5 Income
when receivable at Iheii value to the charity. When donated gOLyJs, servKes and faalities are d15tributed or consumed, an expense
in respect of those items is induded in the Statetnent of Finanaal Acbwties. Donated fixed assets ale capitalised.
The charity ielie5 on volunteer5 lo ¢2rry out many of rts actwth"es. Howevei. in accordanTr with the SORP. the value of these
serV￿eS has not been induded in these finanaal 5tstetnents as they cannot iE rEliabty ffleasured.
Income from charitaNe activities represents inrx)me receivable from gthls. serv￿$ and faralities supplied in fijrtherance of the charity's
charitable objects. It indudes incx)me fiDm church retreats induding youth events and income received for seconded staff.
Income from other trading a¢tiwtEs rep￿Sertts income recgvabk from athvities un¢Jertaken lo generate funds for the charity. It
includes income from hire of thurch rooms.
Other incorne indudes gains sri%ng from the disp)s81 ol tangitle fixed assets.
The charity has taken the VEW that rt ha5 onty ove charitsble aLaiwty. namety the a4JvanTrtnent of the Chnstian farth, and all Income
trom donatlOn5, legacies and charitaNe activrtie5 is in respect of th15 one activrty.
Expenditure. Induding iTreCOve￿b1e VAT, is Fecogni5ed when it Is In()Jrr￿l OT, rf eatlier, when a legal or constructive obligation for a
payment arises prowded that it 15 probable that setdement wll be requireLI and the arnount of the obligats.on can be measured reliably.
The chgnty makes grants lo other institutsons and ind1*idUa￿ to further lis charitable objective5. Giants payabk are recognised as
constructive obligations arise. which is generally when the charity expresses a commitrnent to the reapient that can be measured
reliably and then only to the extent that any ￿ndItionS associated wilh the grant are outside of the control of the charity.
The Charitie5 SORP requires charities ¥￿th income over £500.000 to alknrate ￿StS to Ihe various actNities undertaken by the charity.
The n8ture of the work of the charity is consdered to be so integr8ted that the ￿)re charitable actmty (x)sts are ￿nsIdered to be for the
one activity.
Page 11

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Accounting P￿ICieS Icont.)
Govemance costs, which ar8 Induded In exp8ndrtur8 on charitable actiwb8s but ldenb.fied separately in th8 notes to tha accounts,
includes costs sssociated wth the independent examination of the finan￿al statements, com￿lar￿? wth constitutional and ststutory
r8quirements and any other expenditure incurred on the strateg￿ rnanagement of the charity.
dl Fund accounknn
General funds are unrestricted fvnds which a￿ availabk for use at the di$¢￿tIOn of the Injstees in fvrU)effjn￿ of the general objectives
of the charity. Designated fvnds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
Restricted funds a￿ ¢Jonations which a￿ to be used in accordan￿ wth speuft re$lri¢tions Imposeé by donors". they indude donations
received from appea15 for speofic activrtie5 or p￿lect5.
ible fixed assets
Items purchased or donated for the charitls own use are GgPrt81ised when the cost of purchased item5. or the fair value of don8ted
items. is more than £2.OQO and the Item is expected to benefit the charrty over more than one accounting period. Depreu8tion is
charged on a straight line basis so as lo wrTte down the value of each asset to its estimated residual value Irf any) over rts expected
useful economic life. To 8th￿￿e this objective thÈ followng rates of depr￿lation are charged..
Freeho￿ land
Freeho￿ buiklings
Freeho￿ impro¥em8nls
Equipment & Fixtu￿$
Is not deprecaated Ibec3use it i8 not Ixnsumed by usel
Over 50 years aftertaking ar*ount of the bU1￿1ng'S residual value
Over 5 years
Over 5 years
The carrying values of tangible fixEd assets are revithved impairnienl in rEriods when ev8nts ￿ thanges in circumst8ntss indicAie
th8t the c8rrying value may not be rerA)verable.
Pension scheme arran
ements
The charity operates defined contribubon pension 5cherne5 for its ernpk>yees. Obligations fr)r contnbutions to these schetne5 are
recognised as 3n expense when the liability ari5e5. The assets of these schernes are held separately frotn those of the charity in
Independent￿ administered fund5.
gl Taxation
The company is a ￿gIste￿ Chanty", tt has taken *Jvantage of the varitsjs reliets trom taxation available to charities and no tax is
payable on the thaity'5 Incorne.
hl Financial instrumenis
The charity's financial assets and financial liabilities all qualrfy as bag¢ finan(xal Instruments, 8$ defined by FRS102. Except for loans,
creditors debtor5 ère rnea5ure¢J at iheir eypected 5ethernent ¥a￿e Inortn?Ily the atnount of cash that the charity expects to pay (
reTrivel. The chanty tecognises liabilitie5 for the pnnopal of those knan5 that tetnain5 Outstanding at the year end li.e. the liabilitie5
exdude any Interest chargeable on the kjans in future yeat51.
Donations
2024
2023
Donation5 of cash and 5irnilar
Donations In kind Inote 381
Govemment grants
Other grants receivable
Incom& tax recovÈratrAe
441,067
61,364
21.805
47.810
78.136
648,184
389,475
10,966
14.992
83.807
81.422
580,662
Donations in kind cornprise.
2024
2023
Goods donated for.
For distribution by Food Pantry
26.545
26.545
34.819
61,364
10.966
10.966
Donated fixed assets
10,966
c￿)d$ donated for distribution by the Food Panby in the current financial year comprise focxl items and a￿ valued using the Trussell
Trust valuation of £2.371kg.
tIonat￿ fixed assets ￿p￿sents f￿h0&y improvement costs Ythe￿ the ¢ontotkn was paKJ dire¢dy by the grant maker.
Page 12

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Income from ¢harltstye o¢YvlWes
2024
2023
Church ￿t￿¥t$, events and a¢tivit¢s
Contribution for seconded staff costs
9.039
3D.66D
39.700
1.366
34.541
35,907
Income from other trading activrbes
2024
2023
Room hi
18.86D
18.860
21.564
21,564
Charitable expenditure
2024
2023
Costs Incurre(J dlTrctty on specinc acV¥Mles
P35toral & Min15try expEn*5
Staff fvnding
Tiainin9 and conferences
Trav
Property
Room hire
IT and equipment
Other direct costs
Depreuation
Outre2ch
Project costs lexduding slaffiTrgl'.
Food Pantry linduding donated goods expen￿)
Grimké Europe Project
A¢is 29
Doved3k building project
Church Planting
Eden project
Crosslands
25.316
364.810
17.854
22.145
27.881
6.159
3.470
7.802
98.11D
2.305
18.583
365.922
17.094
18.828
40.371
6.643
3.219
2.282
73.600
1.818
57.724
4.689
28.038
3.388
103
5.585
1.415
4.371
4,439
568,700
645,264
Grants payable Inote 6cl
22.937
16.143
668.202
602,842
C05t5 incurred on 5UPPOrt & administration
Governance costs
IndÈpendÈnl examiners fee
4.440
3.690
Ortce c051s
Insuran
Legal and Professional Fees
17.050
7.281
1.778
30.55D
9.598
6.508
1.999
21.795
Total expendiiure
698.751
624.638
The fee payab￿ to the Independent ex3miner for prep3nng and examining the accounts was £4.200 12023. £3.6901", In addrtion the
charty paid £1,50012023.. £1,247) lo Stewardship for payroll bjreau and consuliancy Servi￿
Grants payable
Instrtub'ons
Indiwduals
2024
Grants for UK and overseas rniss￿n
Grants for environmental & r£Thrnunty support
15.408
6.472
21.880
1.057
16.465
6.472
22.937
1.057
The comparatNes for the prewous year are as folknvs".
Instrtutsons
IndMdu4ls
2023
Grants for UK and overseas missvjn
Grants for the relief of poverty
11.738
1.127
12.865
3,278
15,016
1,127
18.143
3.278
Page 13

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Charitable expenditure IconLI
The chanty's principal grants to Instrtutions compnsed..
2024
2023
Fellowship of Independent Evangelical Chuthes IFIECI
Acts 29
The Message Trust
OMF
The Church in Sweden
The Church Office
Va18ncia commun￿85 Fund
2.40D
7.128
1.20D
1.900
1.200
1.500
6.472
2.400
5.658
1.450
UCCF
1,000
1,127
1.230
12.865
Community Voice
Grants to institutions for less than £1.000 each
80
21.88D
Analysis of Stsff costs, the cost of key management personnel and trustee remunerntion
2024
2023
Gross wages and salaries
Soci81 security
Pension costs
Other employment benefrts
306.194
22.819
18.391
692
348,096
293.547
23.137
17.613
502
334,799
The average monthty nurnber of empknyee5 during the year w35 11.5 12023" 121. Most of the activities are carried out by
volunteers.
No staff received salaries 81 a rate of more than £60.000 per annum.
The charty's key managernent eornprise the trustees and the key staff named on Ih8 Company Information page. Total ernployrnent
benafits paysble to key rnanagemenl for the year were as follows".
Employer
Ex-gratia
pension
P3yments contributions
Wages &
sa￿[leS
2024
Trustees..
S Robinson
A Wood
J Walsh
N Forsythe
Other members of key rnanagement
42.058
35.343
17.451
31.134
33.201
2.523
2,121
1.047
1.868
1.992
44.581
37,464
30.380
33.002
35,193
180.620
11.882
The following atnounts were payabk in the pre*ious year
Other
Employer
Wage5 & etnployment
pension
salaries
benefits contnbutions
2023
Trustees.
S Robinson
A Wood
J Walsh
N For5ythe
Other members of key management
39.270
31.750
33.660
28.343
32.550
2.356
1.905
2.02D
1.701
1.953
41.626
33.655
35.680
30,044
34.503
175.508
The above trustees served as church leaders and operational stsff and reTrNed the al￿e payment5 fcf Serving in that capacity, not fr)r
setving as trustees. these payments are pennitted by the tharitls governing do(yJmenL
Payroll ¢osts Included ￿dUndan¢Y and temiination payments totall1r￿ £16.907 12023". £nll aThJ ¢4)mprise ststutory payments and ex-
gratia payments Whe￿ this was considered appropriale. Redundancy and temiinalKX) payments a￿ charged when the liability or
obligation anses.
Page 14

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
Tan9lble fixed assets
Fixtures,
ffttings and
equipment
F￿hold
F￿eh￿d
under
Property Improvements (y)nsiru¢tion
Total
2024
Cost
At 1 August 2023
Additions
At 31 July 2024
545.000
308.369
127.332
435.701
62.883
5.13D
921,382
127,332
1,048,714
545.000
62.883
5,13D
Accumulated depreciation
At 1 August 2Q23
Charge for the year
At 31 July 2024
72.700
10.900
83.600
82.863
86.184
169.046
2.565
1.026
3.591
158.128
98.110
258.237
Net book value
At 31 July 2024
461 400
266.855
62.883
1.539
792,477
At 31 July 2023
472.300
225.507
62.883
2.565
763,255
Assets under construetion represents expenditu￿ spenl on the future devekjpment of Dovedale Road. Depreciation will not be ch8rged
on this asset until the renovation work is comrAete.
Stock
2024
2023
tlonata go￿$
For distnbulion lo benefioanes
1.73D
1.73D
130
130
10 Debtors= falling due within one year
2024
2023
Tax re(rJverable
Prepayments and acuued income
6.116
15.712
21,827
5.661
4.324
9,985
11 Cash at Bank and in Hand
2024
2023
Cash at bank with immediate acxxs
Petty cash
175.771
198.037
175.781
196,037
12 Creditors= liabilities falling due within one year
2024
2023
Other ueditors
A¢cruats
5.074
16.321
21.395
8.984
6,984
13 Pension commitment5
During the year employerf5 penS￿n contriixJtlODS totalling £18.391 12023" £18,8191 were payable to deffined contribution personal
pension schemes. No pension contritrrtjtions were owng at ba￿n￿ sheet dale.
Page 15

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
14 Funds
During the ye8rthe movements in the charivs fvn(ls We￿ as folk)ws".
Opening
baLgn
2024
Incoming
resources
Ouigoing
resour￿5
Transfers
in the year
C105ing
balance
2024
2024
2024
2024
Des￿nate(l Funds
SabbatKal Fund
Contingency Fund
Vveekend away
Liverpool Building Maintenance Fund
3.091
10.000
2.400
5.491
10,000
84
1,248
195
11951
2.40D
13.176
195
11.3471
4.8OD
18.824
General Unrestrthd Funds
801.717
484.547
1525.7391
83.017
843.542
Total un￿$b)cted Funds
814.893
484.742
1527.0861
87.817
86D.366
RestJy¢ted Funds
Staff Worker Funding
Doved8le Building fund
Church pbnt reswjency
Wirral Building Repair Fund
Hope Church Kensington
Hope Church Kensington- Food Pantry
Lath Lane Church rAant
Comerslone Wirral
Comerslone Liverpo
Crosslands Fund
Acts 29 Fund
Room hire Deposits
Littk Pebbks Liverw)ol
Grimké Europe Project
1.250
45 052
28.191
3.125
58.282
905
14.3501
16.4721
18.1421
12.9901
138.6461
157.7241
38
4,349
20,954
10
33,924
21,355
15.597
2.171
1.841
192.5131
3,000
18,3041
46.534
4.803
9.238
11.002
34.340
74.275
7.377
5.533
7.289
114.3631
15.4261
27.254
127.2541
11001
14891
14.6891
1.200
248
1.100
220
3.406
21
10.000
8,717
147.530
222.006
1171.6651
187.8171
11 D.055
Agg￿gate offvnds
962.423
706.749
1698.7511
970.421
The transfers ￿ferred to afy)ve were made forthe folknwing ￿8$on$..
al From general funds to the designated Sabbatical Fund & the Liverpml Buik1ing maintenan￿ fund lo set rnoney aside for thèse
purposes.
bl From Dovedale Buik1ing Fund to General Fund to recxjgnise cxpitalised eyndrture on the Dovedale buildino.
cl From General to the Wirral Building Repairs and Grimké Europe Project ￿$tricted tunds to contribute to expenditure In these areas.
dl From Hope Churth Kensington to General to correu an error in prk)r year accounts.
Page 16

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
14 Funds Icont.)
Analysis ol net assets by lund
The assets and liabilities of the variou$ funds We￿ as lolow*
Un￿Strided Funds
General
Designated
fuw¥J5
fvnds
Re5tncted
funds
2024
Tangibl& fixed assets
St￿k
Debtors
Cash at bank and in hand
Creditor5 falling due wthin one year
792.477
792.477
1.730
21.827
175.781
121.3951
1.73D
9.713
106.33D
17.7191
12.114
52.627
113.6761
16.824
843.542
16.824
110.055
97D.421
In the previous yearthe Tnovernents in the thariws funds wete a5 fDIIows."
Opening
balanc8
2023
Incoming
resourcas
2023
Ouigoing
resources
2023
Transf8rs
in th8 yÈ8r
2023
C105ing
balance
2023
Deswnated Funds
Ssbbatul Fund
Contingency Fund
Weekend away
3.520
10.000
390
12.8281
2,400
3,091
10,000
84
1.366
11.6721
13.910
1.366
14.5001
2.40D
13.176
General Unrestncted Funds
785.361
426.898
1462.1231
51.781
801.717
Total Unr8Strict8d Funds
799.271
428,064
1466.6231
54.181
814,893
Reslricted Funds
Staff Worker Funding
DOved2￿ Building fund
Church plant ￿S￿encY
Wirwl Building Repair Fund
Hope Church Kensington
Hope Church Kensington- F(KKI Pantry
Lark Lane Church plant
Cotner5tone Wirral
Cotnerstone Liverpool
Crosslands Fund
Acts 29 Fund
Room hire Deposits
Little Pebb￿S Liverpool
Hokling Fund
16.250
61.734
23.612
10761
28 978
115.0001
11031
16.2941
126.8081
135.5441
128.0381
11.5621
12.5301
11.1401
14.4391
136.1791
1.250
45.052
28.191
65.028
1.706
12.486
44.796
32.841
10.800
7.139
1.140
181.6061
9.167
3.561
8.304
46.534
4.803
9.238
11,002
8.393
4.452
694
1.200
182
150
12
35.485
1,200
248
443
11501
13771
148.012
211.713
1158.0141
147.530
Agg￿gate offunés
947.283
639.777
1624.6381
962.423
Page 17

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
14 Fund$ IconLI
Anatysls of net assets by fund
In the previous year. the assets and liabilites of the Var￿U$ funds We￿ as follows".
un￿striCted Funds
General
Designated
funds
fijnds
Restncted
funds
2023
Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditor5 falling due wthin one year
763.255
763.255
130
9.985
198.037
16.9841
13D
536
147.283
14191
9.449
35.576
16.5651
13.176
801.717
13.176
147.530
962.423
Deswnaled Funds
The Sabbatical Fund is an unrestnrted fund desbjnated by the Trustees to alh)w for fviure expendrture on a planned sabbaiical for
the church ￿aders.
The Wirral Building Repair Fund was an unrestricted fvnd designated by the Trustees to albw for future expenditure on the Wirral
property. ￿1 funds are now held in the restricted fun¢Y of Ihe same narne.
The Giving Fund 15 an unrestncted fund designated by the Trustees to allowlDr futUTE chn5tian tha[ilab￿ giwng to individuals and
organi5ations. usualty wtth 8 focus on thurch pLgnting support
The Contingency Fund Is 8n unrestncted fvnd de￿gnated by the Trustees to alow for fijture unexpected expendrtur8.
The Weekend away hjnd relates to incorne & expenditure for the Bolderyouth weekend away.
Reslncted Funds
The Staff Worker Fund Is a restncted fund hekl to re￿1ve lunds for saLqry and training paymÈnts.
The Dovedale 8uilding Fund Is a restricted fund ueated to r￿￿e and Tnan3ge the funds raised forthe future purchase and
renovatson of a building for thurch use. In 2021 Ramilv&s Road Hall Trust dC￿ated the proceeds from the Sa￿ of their building to
The Church Plant Resillency Fund is a ￿$trUe￿ fund ￿318{1 to hdp finance inéividuals to ttain as part of Comerstone Collective
of Churches Church Plant Residency training Ptcurarntne.
The Wiffal Building Repair Fund Is a restnded fund created to receive and manage fuThls raised for repairs & maintenance of the
church buikling used by Cometstone WI￿1.
The Hope Church Ken51ngton Fund Is made up of sevefal reslThXed fijnds ueated to hohy vaii)us donations for projects out of
Hope Church.
The Liberts Church Outreach Fund is a restricted fijnd created to fijnd evangelistirjoutreach work from Liberb Church.
The Comerstone Wirral Fund 15 a restricted lund created to ho￿ v3ri0us donations to Comerstone Wirral wrth SPe￿fiC restridion5.
The Comerstone Liverpool Fund Is a reSInct￿ fund for donabons speufically to be used by Comerstone Liverwol church.
The Crosslands Fund Is a restricted fund to support staft In Ih*r cro￿andS training.
The Acts29 Fund 15 for funds donated by Acts 29 GB as a grant for Acts 29 reL9ted work undertaken by members of staff at
Comerslone Collective.
The Lrtde Pebbles LiverrKKI Fund is a ￿$tricted fund made up of a grant r￿1Ve(l f¢* the baby and toddler group- funds ￿stn¢te
for purchasing itetns to improve the fiJndioning of the Lrtlle Pebbles group.
The Grimké Europe Projeci 15 a restriLted fund for a partnet5hip wtih Grirnké 5erninary in US to prowde training.
Page 18

CORNERSTONE COLLECTIVE OF CHURCHES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2024
15 Transactlons wlth related portles
Dunng the year the charity".
al received donations totalling £42.948 12023". £48.0051 from r*ted parties Iwhid) indudes trustees. any other members of key
management and anyone cbsely ¢￿The￿e{l to theml.
bl No expenses 12023". £nill We￿ palé to, or for. the trustees. Reimbursements for expenses incur￿d when acting as aoent for the
charity or incurred when undertaking etnpbyrnent dLrties not connected wth serving as a trustee are not Induded in thi5 di5d05ure.
During the year the Charity also made the folk)wing payments to. or for. relate(I parte$".
al S￿n Robinson, who is cjosety related to Steve Robinson. who Is a trustee, rec￿V￿ payrnents totalling £12812023.. £1,291) for
provkling deaning services lo the charity.
EKTrPt as disdosed in note 7'Anaty5is of staff c05t5'. there have been ty) othertransacbons wrth related parties during the year.
16 Membe
Each MeM￿r of the company commits to contribute ifthe charity is wound up an amount of £10.
Page 19

¢DO¢D
<0 (TJ
too
(QO¢D
*r)
Ooifj