Company registration number: 09915593 Charity registration number: 1167384
THE CORNERSTONE CHURCH GROUP
(A company limited by guarantee) Annual Report and Financial Statements
for the Year Ended 31 March 2025
GRC Accountants Limited 166 Banks Road West Kirby Wirral Merseyside CH48 0RH
THE CORNERSTONE CHURCH GROUP
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Strategic Report | 2 |
| Trustees' Report | 3 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 17 |
THE CORNERSTONE CHURCH GROUP
Reference and Administrative Details
Charity Registration Number 1167384 Company Registration Number 09915593 Registered Office 86 - 90 Paul Street London EC2A 4NE Independent Examiner GRC Accountants Limited 166 Banks Road West Kirby Wirral Merseyside CH48 0RH
Page 1
THE CORNERSTONE CHURCH GROUP
Strategic Report for the Year Ended 31 March 2025
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2025, in compliance with s414C of the Companies Act 2006.
The strategic report was approved by the trustees of the charity on 28/01/2026 and signed on its behalf by:
......................................... A Bothaotte Mr Anthony Brathwaite Trustee
Page 2
THE CORNERSTONE CHURCH GROUP
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2025.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Mr Anthony Brathwaite Mr Gerald Okullo Mr Hafis Raji
Statement of trustees' responsibilities
The trustees (who are also the directors of THE CORNERSTONE CHURCH GROUP for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Governing document
The charity is controlled by governing document and a deed of trust.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives and activities
- The advancement of the Christian faith, relief of poverty, training, advice and
Page 3
THE CORNERSTONE CHURCH GROUP
Trustees' Report
guidance, education and the fulfilment of various charitable causes.
-
To provide life skills, employability skills for the disadvantaged and unemployed personal advice and wellbeing services encouraging mental and physical wellbeing.
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To participate in partnership with international and local organisations involved in sustainable development projects in developing countries.
Our church:
Vision: You are significant
The Cornerstone Church’s vision is to see mankind living a significant life through a relationship with Jesus Christ, connection with others and in contribution to the local church and society at large. The church continues to build on its vision every year through its services and activities and continues to grow in its causes.
Services and groups:
The Cornerstone Church has seen its attendance and membership continue to increase which in turn has seen an increase in services, gatherings, groups, salvations and baptisms. The Church has also continued to build on its community work and leadership development initiatives.
Charitable activities:
The Church continues to build on its charitable and community work locally, nationally and internationally. The current cost of living crisis has hugely impacted deprived communities. As a result, foodbank donations to Lewisham Local Foodbank have significantly increased from members of the church. The church also continues to work in partnership with several not-for-profit organisations and charities as part of its vision and mission.
Further projects and partnerships now include those with Open Doors, a global charity supporting persecuted Christians around the world. Parenting Mental Health – a national charity that specifically helps parents who are supporting a child with mental health challenges and whose needs and impact for positive change are all too often overlooked. Focusing not just on the child but the parent also. Other charities supported include:
Pure Hearts - A ministry who creates environments for women to be transformed, receive healing and have their hearts turned towards their faith once again. LIVN Global - who currently deliver projects in East Africa to provide clean water, access to education, and are also delivering prison rehabilitation and support to widows.
On our doorstep we have supported the 999 club, and their Gateway Centre where they provide a warm welcome for locals facing homelessness, hot nutritious, hand cooked meals, shower facilities and the chance to clean their clothes. For those sleeping rough they provide emergency survival items like sleeping bags and thermals. In addition, Ageing Well – who work to enhance the quality of life of vulnerable older people in Lewisham, especially those who are isolated due to physical or cognitive challenges. Their programmes increase mental and physical well-being through activities that encourage social interaction, mobility and creativity.
We are also delighted to have delivered our own health and wellbeing initiatives including a steps challenge to promote community, mental and physical wellbeing. In addition, we also delivered sessions in this area that specifically catered to senior citizens both in the church and those visiting.
We are proud to be supporting and delivering such initiatives and are grateful for the volunteers in our church who serve and give selflessly of their time and resources at the church.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 4
THE CORNERSTONE CHURCH GROUP
Trustees' Report
The annual report was approved by the trustees of the charity on 28/01/2026 and signed on its behalf by:
......................................... A Bathotte Mr Anthony Brathwaite Trustee
.........................................
Page 5
THE CORNERSTONE CHURCH GROUP Independent Examiner's Report to the trustees of THE CORNERSTONE CHURCH GROUP ('the Company,) I rcpon lo the charity Iruslees on my cxamindtiun of thc ac¢oiints vf ihc Comp¢iny for the year endcd 31 MarLh 2025. RespoDslb115tles and basis of reporl As the charity's Iruslees of Ihe Company (and also its directors for the purposes of company lawl you are responsible for ihe preparatioi) of. the acLounls in accordance with ihc requirements of the Companies Aci 2006 I'ihe 2006 Act.). Having 5alisfieiJ InysLlf that Ihc acLounls of the C(Impany are not required to be audited under Part 16 of the 2006 Act and arL' eligible for independent examinaliun, I report in reqpeLI ()f my examint)lion of your charily'8 acLounls a5 Calcd out under seLtion 145 (If th¢ Lharitics Aul 2011 {'th¢ 2011 Ait.). In carrying out my examinmlion I havc follom'cd the Dir¢clivn5 bJjl'¢n by thc Lh¢irily Lommis5iun undcr scclion 145(5)(b) of the 2011 A¢1. Independent examiner's statement I Iiave coinpleled my ¢xaininalion. I confirim that no mallcr8 have com¢ lo my aiiention in connection wilh Ihe exaininuliiin ¥ivingF Ine cau8¢ lo bclieve.. accounting records were not kept in respect of THE CORNERSTONE CFIURCH GROUP as required by scction 3116 of ihc 2006 Aci; or 2. thc £iLLounl4 d() ni)l aLCI)rd wilh Ih()4e reLI)r(l%: c)r 3. the account4 do Iioi comply with the a¢countinbT requirements ot. section 39(? of the 2006 Acl other than &ny requirement Ihal the accoui)1s sylve a 'true and fair view, which is nor a maller considered a4 parl ot an iiidependeni examination; or 4. IhL IILL(iunts liavL nu( bLCn pfLp<ifLd in aLLiirdanLL wilh ihL InLbihi)d.4 dnd prin¢iplL% (If th¢ S(dlL'iiiLnl of Rccommended Prdcti¢c fur aLLoiintingF und reporting by Lharilics lapplilable lo chariiies preparingJ their aLLoiin15 in aLLorddn¥L with thc FinanLial Reporting Sland<ird yppli¥(IblL in the UK RLpubliL of Irelmnd (FRS 102}1. I have no concem8 and havc cnme across n() i)ther mallcrs in conncelion with the cxaminalion lo which atleniion should bL drawn in ihis rLPOrt in order to ciiahlc a pri)pcr ui)dLrslaiidiiig of Ihe aLLULinl% l() bL r¢a¢hcd. G3r¢ih Cooper ACCA 166 Bdnk.s Road Wesl Kirby Wirral Merseyside CH48 ORH Datc.. zq /0 i /zoi3 Page 6
THE CORNERSTONE CHURCH GROUP
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 Note Income and Endowments from: Donations and legacies 3 Investment income 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 |
Unrestricted funds £ 192,236 19 192,255 (164,937) (164,937) 27,318 (5,874) 21,444 298,567 320,011 Unrestricted funds £ 175,132 6 175,138 (151,796) (151,796) 23,342 23,342 275,225 298,567 |
Restricted funds £ 34,000 - 34,000 (49,550) (49,550) (15,550) 5,874 (9,676) 17,976 8,300 Restricted funds £ 30,600 - 30,600 (20,424) (20,424) 10,176 10,176 7,800 17,976 |
Total 2025 £ 226,236 19 |
|---|---|---|---|
| 226,255 | |||
| (214,487) | |||
| (214,487) | |||
| 11,768 - |
|||
| 11,768 316,543 |
|||
| 328,311 | |||
| Total 2024 £ 205,732 6 |
|||
| 205,738 | |||
| (172,220) | |||
| (172,220) | |||
| 33,518 | |||
| 33,518 283,025 |
|||
| 316,543 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 12.
The notes on pages 9 to 17 form an integral part of these financial statements. Page 7
THE CORNERSTONE CHURCH GROUP
(Registration number: 09915593) Balance Sheet as at 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 10 | 1 | 1 |
| Current assets | |||
| Cash at bank and in hand | 11 | 328,310 | 317,781 |
| Creditors: Amounts falling due within one year | - | (1,239) | |
| Net current assets | 328,310 | 316,542 | |
| Net assets | 328,311 | 316,543 | |
| Funds of the charity: | |||
| Restricted income funds | |||
| Restricted funds | 12 | 8,300 | 17,976 |
| Unrestricted income funds | |||
| Unrestricted funds | 320,011 | 298,567 | |
| Total funds | 12 | 328,311 | 316,543 |
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 17 were approved by the trustees, and authorised for issue on 28/01/2026 and signed on their behalf by:
......................................... A Bothote Mr Anthony Brathwaite Trustee
The notes on pages 9 to 17 form an integral part of these financial statements. Page 8
THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Charity status
The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 86 - 90 Paul Street London EC2A 4NE
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
THE CORNERSTONE CHURCH GROUP meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 9
THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost.
Page 10
THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Plant & Machinery
Depreciation method and rate
25% straight line
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Gift aid reclaimed Grants, including capital grants; Grants from other charities Total for 2025 Total for 2024 |
Unrestricted funds General £ 177,504 14,732 - 192,236 175,132 |
Restricted funds £ - - 34,000 34,000 30,600 |
Total funds £ 177,504 14,732 34,000 |
|---|---|---|---|
| 226,236 | |||
| 205,732 |
4 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Total for 2025 Total for 2024 |
Unrestricted funds General £ 19 19 6 |
Total funds £ 19 |
|---|---|---|
| 19 | ||
| 6 |
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THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Expenditure on charitable activities
| Note Allocated support costs 6 Governance costs 6 Total for 2025 Total for 2024 |
Unrestricted funds General £ 162,398 2,539 164,937 151,796 |
Restricted funds £ 49,550 - 49,550 20,424 |
Total funds £ 211,948 2,539 |
|---|---|---|---|
| 214,487 | |||
| 172,220 | |||
| Total expenditure £ |
In addition to the expenditure analysed above, there are also governance costs of £2,539 (2024 - £3,426) which relate directly to charitable activities. See note 6 for further details.
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THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
6 Analysis of governance and support costs
Raising funds expenditure
Charitable activities expenditure
| Basis of allocation Hire of machinery Welfare Insurance Honoraria Travelling Rent Repairs Administration expenses Charitable donations Consultancy Advertising Events Gifts and entertainment Basis of allocation Tools Hire of machinery Welfare Insurance Honoraria Travelling Rent Repairs Administration expenses Charitable donations Sundry expenses Consultancy Events |
Unrestricted funds General £ 1,568 3,017 304 6,650 15,620 35,652 4,060 4,759 17,513 67,400 283 920 4,652 162,398 Unrestricted funds General £ 485 1,467 3,075 589 3,150 10,148 36,304 14,517 3,089 17,500 526 56,935 585 148,370 |
Restricted funds £ - - - - - - - - - 49,550 - - - 49,550 Restricted funds £ - - - - - - - - - - - 20,424 - 20,424 |
Total 2025 £ 1,568 3,017 304 6,650 15,620 35,652 4,060 4,759 17,513 116,950 283 920 4,652 |
|---|---|---|---|
| 211,948 | |||
| Total 2024 £ 485 1,467 3,075 589 3,150 10,148 36,304 14,517 3,089 17,500 526 77,359 585 |
|||
| 168,794 |
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THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
Governance costs
| Other governance costs Allocated support costs Independent examiner fees Examination of the financial statements Other governance costs |
Unrestricted funds General £ 1,299 1,240 2,539 Unrestricted funds General £ 1,240 2,186 3,426 |
Total 2025 £ 1,299 1,240 |
|---|---|---|
| 2,539 | ||
| Total 2024 £ 1,240 2,186 |
||
| 3,426 |
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Independent examiner's remuneration
| Examination of the financial statements | 2024 £ 1,240 |
|---|---|
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Tangible fixed assets
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THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
| Cost At 1 April 2024 At 31 March 2025 Depreciation At 1 April 2024 At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 11 Cash and cash equivalents Cash at bank |
Furniture and equipment £ 2,828 2,828 2,827 2,827 1 1 2025 £ 328,310 |
Total £ 2,828 2,828 2,827 2,827 1 1 2024 £ 317,781 |
|---|---|---|
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THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
12 Funds
| Unrestricted funds General Unrestricted Restricted funds Benefact Trust Postcode Society Community Fund Albert Hunt Trust Total restricted funds Total funds Unrestricted funds General Unrestricted Restricted Benefact Trust Postcode Society Community Fund Total restricted funds Total funds |
Balance at 1 April 2024 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 March 2025 £ 298,567 192,263 (164,945) (5,874) 320,011 9,550 30,000 (31,250) - 8,300 (4,374) - - 4,374 - 12,800 - (14,300) 1,500 - - 4,000 (4,000) - - 17,976 34,000 (49,550) 5,874 8,300 316,543 226,263 (214,495) - 328,311 Balance at 1 April 2023 £ Incoming resources £ Resources expended £ Balance at 31 March 2024 £ 275,225 175,138 (151,796) 298,567 7,800 15,000 (13,250) 9,550 - - (4,374) (4,374) - 15,600 (2,800) 12,800 7,800 30,600 (20,424) 17,976 283,025 205,738 (172,220) 316,543 |
Balance at 1 April 2024 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 March 2025 £ 298,567 192,263 (164,945) (5,874) 320,011 9,550 30,000 (31,250) - 8,300 (4,374) - - 4,374 - 12,800 - (14,300) 1,500 - - 4,000 (4,000) - - 17,976 34,000 (49,550) 5,874 8,300 316,543 226,263 (214,495) - 328,311 Balance at 1 April 2023 £ Incoming resources £ Resources expended £ Balance at 31 March 2024 £ 275,225 175,138 (151,796) 298,567 7,800 15,000 (13,250) 9,550 - - (4,374) (4,374) - 15,600 (2,800) 12,800 7,800 30,600 (20,424) 17,976 283,025 205,738 (172,220) 316,543 |
Balance at 31 March 2025 £ 320,011 8,300 - - - |
|---|---|---|---|
| 8,300 | |||
| 328,311 | |||
| 17,976 | |||
| 316,543 |
13 Analysis of net assets between funds
| Tangible fixed assets Current assets Total net assets |
Unrestricted funds General £ 1 328,310 328,311 |
Total funds at 31 March 2025 £ 1 328,310 |
|---|---|---|
| 328,311 |
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THE CORNERSTONE CHURCH GROUP
Notes to the Financial Statements for the Year Ended 31 March 2025
| Tangible fixed assets Current assets Current liabilities Total net assets 14 Analysis of net funds At 1 April 2024 £ Cash at bank and in hand Bank overdraft Debt due within one year Debt due after more than one year Finance leases and hire purchase contracts Current asset investments Net funds At 1 April 2023 £ Cash at bank and in hand Bank overdraft Debt due within one year Debt due after more than one year Finance leases and hire purchase contracts Current asset investments Net funds |
Unrestricted funds General £ 1 317,781 (1,239) 316,543 Cash flow £ 10,528 - 10,528 - - - - 10,528 Cash flow £ 34,757 - 34,757 - - - - 34,757 |
Total funds at 31 March 2024 £ 1 317,781 (1,239) |
|
|---|---|---|---|
| 316,543 | |||
| At 31 March 2025 £ 328,309 - |
|||
| 328,309 - - - - |
|||
| 328,309 | |||
| At 31 March 2024 £ 317,781 - |
|||
| 317,781 - - - - |
|||
| 317,781 |
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