REGISTERED CHARITY NUMBER: 1169145
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
THE CORNERSTONES FOUNDATION
Rushtons
Chartered Accountants
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

THE CORNERSTONES FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
8 to 12

THE CORNERSTONES FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended
31 March 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).
Purpose of the report
The purpose of this document is to set out the current position of the Cornerstones Foundation and
to provide an overview of work that has been achieved over the past 12 months, and further work
that is underway to progress the charity's objects and to provide an update on its financial position.
OBJECTIVES AND ACTIVITIES
Objectives and alm8
The Comerstones Foundation's target cohort is children and young people looked after, those that
are in the 'care' of the local authority, with a specific focus on facilitating and supporting their
transition from education to employment. It also reaches out to young people leaving care.
The charity's principal activities during the year continue to be to relieve children and young people
who have experience of the social care system by the provision of support, advice, resources,
assistance (financial or otherwise), grants, programmes and other activities to advance education.
improve prospects for employrnent, promote the social inclusion among these beneficiaries who
are excluded from society, or parts of society, due to their social or economic position. Develop
their capacity and skills in such a way that they are better able to identity and help meet their
needs.
Public benefil
The Trustees work to develop the long term strategy, together with operatlng plans to achieve the
aims, to provide strategic direction and to set out where it plans to carry out actions and allocate
resources to achieve its vision and deliver ils strategic goals, with due consideration to the general
guidance on public benefit required by the Charity Commission.
Page 1

THE CORNERSTONES FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Revlew of current activlty
During 2023124. activity to deliver the aims of the charity has continued and the focus of The
Comerstones Foundation during the period 1 April 2023 to 31 March 2024 has been to progress
work with Liverpool John Moores University (LJMU).
Having heard about the work of the Cornerstones Foundation, a member of the senior leadership
at LJMU approached a trustee of The Cornerstones Foundation in Quarter 4 2022123 to explore
the possibility of a partnership arrangement with the charity, that would build on the University's
existing work with those who are care leavers or have at som8 Stage in lif8 hav& experienced th8
care system.
As an output of its 2019 report, LJMU established a Care Leavers Covenant and is working to
facilitate and support care leavers progressing through LJMU, providing a bursary of £1,500 to
help with living expenses etG. A key objective of this work is to provide opportunities for local care
leavers to ac￿ss HEIFE qualifications by providing this type of financial support. Without an
established and managed funding stream, potential future students who are care leavers may be
disincentivised to apply for a university place, thus preventing a young care leaver from achieving
this ambition. By enabling a care leaver to obtain an accredited qualification(s), this could provide
a springboard to enable a care leaver to secure long-terrn employment.
Given the synergies between the objectives of The Cornerstones Foundation and whal the
University is seeking to establish through thls project, the Board of Trustees approved this initiative
in December 2022. Although it was not anticipated that the demand initially would be high, an
initial and evaluated 'proof of concept, phase could provide evidence take-up, financial
management of the bursary, the effectiveness of th8 project and the impact on the care leavers.
Once approved by the Board of Trustees and agreed wlth LJMU, it became incumbent on the
charily to quickly explore all and any fundraisingldonor opportunities in order to make adequate
financlal resources available to the project.
The charity is very fortunate that its Board of Trustees comprises individuals with strong links to a
number of large companies and the wider business network. With the thanks of a number of key
people, and the support of the Board, the General Manager of Hilton Liverpool (who is also a
trustee of The Comerstones Foundation ) very generously offered the facilities of the hotel to host
'The Cornerstones Foundation Star Ball, in July 2023. This was supported by the wider Board of
Trustees who also contributed in various ways to ensure the event went ahead. Approximately 250
guests from all sectors attended the event, hosted by The Cornerstones Foundation, The event
was co-presented with another charity, the NSPCC, which has a similar focus to support children
and young people who are at risk and in need. The Star Ball raised £20,000 for The Cornerstones
Foundation.
Al around the same time, a substantial legacy was bequ8athed to a member of the Board of
Trustees by his brother, who had reGently passed away. The trustee proposed to the Board Ihat a
donation of £45,000 is to be made to The Cornerstones Foundation to conlribute to the funding for
Ihe LJMU project that would include a scholarship, 'The Cornerstones Foundation Leslie Millar
Scholarship,. This too was approved by the Board of Trustees and subsequently with LJMU.
Page 2

THE CORNERSTONES FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Since the donation was made, LJMU is already putting this funding to work. In October 2024, at a
LJMU care leavers event, the care leavers project was launched as a direct result of the financial
support provided through The Cornerstones Foundation and the legacy donation, This work will
continue and it is hoped that more students will benefit from the project, to enable the successful
transition from care leaver to student in order for young local care leavers to realise th8ir
educational aspirations.
The effectiveness of this projecl will continue to be reviewed and
evaluated in conjunction with The Comerstones Foundation and LJMU.
Over the past six months or so, there have also been some changes to the Board of Trustees.
One of the Trustees resigned from the Board earlier in the year. This was due to the increased
demands of his full-time job role which requires him to travel extensively both nationally and
internationally. and therefore made it very difficult for him to commit to attending Board meetings.
He has, however, offered his continued support the charity in a more general capacity, by
promoting the work of The Cornerstones Foundation and introducing CSRIDEI contacts in
companles to the work of The Cornerstones Foundation.
The Board will also continue to work to seGure new Truste8S to Joln the charity.
FINANCIAL REVIEW
Flnanclal position
The results for the year are set out in the Statement of Financial Activities. As a result of
fundraising activities and donations recelved, £43,962 was raised during 2023124. Work to secure
further donations and to increase fundraising activity will continue in 2024.
The overall results show a deficit of £5,992 and a net asset position of £25,336 at the year end.
Reserves policy
The Trustees regularly review the finances, budgets and spend as part of the effective stewardship
of the charity. The Trustees are comfortable with the free reserves position of the charity and adopt
a policy of matching expenditure with income to ensure cash flow needs are met.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity is controlled by its governing document, a deed of trust and constitutes a charitable
Incorporated organisation as defined by the Charities Act 2011.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1169145
Principal address
54 St James Street
Liverpool
Merseyside
L1 OAB
Page 3

THE CORNERSTONES FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
M Magee
S Reddy
R J Ross-williams (resigned 7.6.23)
E Carey
J Shaw (resigned 13.2.24}
T Lloyd
J Woodcock (resigned 19.5.23)
G Millar
P T Hughes
Registered Company number
CE008774 (England and Wales)
Independent Examiner
Rushtons
Chartered Accountants
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB
Approved by order of the board of trustees on
behalf by:
and signed on its
T Lloyd - Trustee
IpiLIN
Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE CORNERSTONES FOUNDATION
Independent examiner's report to the trustees of The Cornerstones Foundation
I report to the charity trustees on my examination of the accounts of The Cornerstones Foundation
(the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of Ihe Trust you are responsible for the preparation of the accounts in
accordanc8 Wlth the requirements of the Charities Act 2011 {'the Act,).
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the
Act and in carrying out my examination I have followed all applicable Directions given by the
Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination, I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Trust as required by Section 130 of the
Act; or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other
than any requirement that the accounts give a true and fair view which Is not a matter
considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Adam Calvert ACA
Rushtons
Chartered Accountants
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB
Date: ..................
Page 5

THE CORNERSTONES FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
fund
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3,963
20.000
23,963
26,109
Other trading activities
20,000
20,000
Total
23,963
20,000
43,963
26,109
EXPENDITURE ON
Raising funds
1,667
1,667
1.886
Charitable activities
ADHD Foundation Neurodivercity
Training Academy
Liverpool John Moore
Liverpool City Council's Leaving Care
Team
7,500
45,000
45,000
3,287
3,287
Total
4,954
45,000
49,954
9,386
NET INCOMEI{EXPENDITURE)
19,009
(25,000)
(5,991)
16,723
RECONCILIATION OF FUNDS
Total funds brought foward
6,327
25,000
31,327
14,604
TOTAL FUNDS CARRIED FORWARD
25,336
25,336
31,327
The notes form part of these financial statements
Page 6

THE CORNERSTONES FOUNDATION
BALANCE SHEET
31 MARCH 2024
2024
Total
funds
2023
Total
funds
UnrestriGted Restricted
fund
fund
Notes
CURRENT ASSETS
Cash al bank
26,236
26,236
32,007
CREDITORS
Amounts falling due within one year
(900)
(900)
{680)
NET CURRENT ASSETS
25,336
25,336
31.327
TOTAL ASSETS LESS CURRENT
LIABILITIES
25,336
25,336
31,327
NET ASSETS
25,336
25,336
31,327
FUNDS
Unrestricted funds
Restricted funds
25,336
6,327
25,000
TOTAL FUNDS
25,336
31,327
The financial statements were approved by the Board of Trustees and authorised for issue on
and were signed on its behalf by..
T Lloyd - Trustee
The notes form part of these financial stalements
Page 7

THE CORNERSTONES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Basis of preparing th8 financial statements
The financial statements of the charity. which is a public benefit entity under FRS 102, have
been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting
by Charities: Statement of Recommended Practice applicable to charities preparing Iheir
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the
Charities Act 2011. The financial statements have been prepared under the historical cost
convention.
Monetary amounts in these financial statements are rounded to the nearest £.
Income
All income is recognised in the Statement of Financial Activities once the charity has
entitlement to the funds, it is probable that the income will be received and the amount can
be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits
will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all Cost related to the category. Wher8 Costs cannot be directly attributed to
particular headings th8y have b8en allocated to activitles on a basis consistent with the use
of resourc8S.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at th8 discretion
of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for
particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the
financial statements.
Page 8
continued...

THE CORNERSTONES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 MARCH 2024
OTHER TRADING ACTIVITIES
2024
2023
Fundraising events
20,000
RAISING FUNDS
Raising donations and legacies
2024
2023
Fundraising events
Support costs
665
1,221
1,667
1,667
1,886
INDEPENDENT EXAMINERS REMUNERATION
2024
2023
Independent examiners remuneration
1,120
674
TRUSTEES. REMUNERATION AND BENEFITS
There wore no trustees, remuneration or other benefits for the year ended 31 March 2024
nor for the year ended 31 March 2023,
Trustees, expenses
There were no trustees, expenses pald for the year ended 31 March 2024 nor for the year
8nded 31 March 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
fund
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,109
25,000
26,109
EXPENDITURE ON
Raising funds
1,886
1,886
Charitable activitles
ADHD Foundation Neurodivercity
Training Academy
7,500
7.500
Total
9.386
9,386
NET INCOMEI(EXPENDITURE)
(8,277)
25,000
16,723
Page 9
continued...

THE CORNERSTONES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- conlinued
FOR THE YEAR ENDED 31 MARCH 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued
Unrestricted Restricted
fund
fund
Total
funds
RECONCILIATION OF FUNDS
Total funds brought forward
14,604
14,604
TOTAL FUNDS CARRIED
FORWARD
6,327
25,000
31,327
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other creditors
900
680
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.24
At 1.4.23
Unrestricted funds
General fund
6,327
19,009
25,336
Restricted funds
Liverpool John Moore University
Leslie Millar Fund
25,000
(25,000)
TOTAL FUNDS
31,327
(5,991)
25,336
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources Movement
expended
in funds
Unrestricted funds
General fund
23,963
{4,954)
19,009
Restricted funds
Liverpool John Moore University
Leslie Millar Fund
20,000
(45,000}
{25,000)
TOTAL FUNDS
43,963
(49,954}
{5,991)
Page 10
continued...

THE CORNERSTONES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- contlnued
FOR THE YEAR ENDED 31 MARCH 2024
MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
Net
movement
in funds
At
31.3.23
At 1.4.22
Unrestricted funds
General fund
14,604
(8,277)
6,327
Restricted funds
Liverpool John Moore University
Leslie Millar Fund
25,000
25,000
TOTAL FUNDS
14,604
16,723
31,327
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources
expended
in funds
Unrestrlcted funds
General fund
1,109
(9,386)
(8,277)
Restrlcted funds
Liverpool John Moore University
Leslie Millar Fund
25,000
25,000
TOTAL FUNDS
26,109
(9,386)
16,723
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31.3.24
At 1.4.22
Unrestrlcted funds
General fund
14,604
10,732
25,336
TOTAL FUNDS
14,604
10,732
25,336
Page 11
continued...

THE CORNERSTONES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS. continued
FOR THE YEAR ENDED 31 MARCH 2024
MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds,
included in the above are as follows:
Incoming Resources Movement
resources
expended
in funds
Unrestrlcted funds
General fund
25,072
(14,340)
10,732
Restricted funds
Liverpool John Moore Unlversity
Leslie Millar Fund
45,000
(45,000)
TOTAL FUNDS
70,072
(59,340)
10,732
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024,
Page 12