2024-03-31-accounts

==> picture [455 x 221] intentionally omitted <==

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK)

==> picture [455 x 42] intentionally omitted <==

ANNUAL REPORT AND ACCOUNTS

==> picture [455 x 63] intentionally omitted <==

YEAR ENDING 31 MARCH 2024

==> picture [455 x 349] intentionally omitted <==

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

CONTENTS

CONTENTS
	Page
Charity Information	3
Trustees’ Report	4
Accountants' Report	6
Income & Expenditure Statement	7
Financial Position Statement	8
Notes to the Accounts	9

2 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024

Trustees

Sarita Chitapa Todd Nyamhunga Weavorce Marira Loveness Batwell

Charity Number: 1172892

Registered Office

23 Callaghan Drive Tividale Oldbury B69 3NG

Accountants

Fortune Tax Accountants Ltd Derwent House 42-46 Waterloo Road Wolverhampton WV1 4XB

==> picture [455 x 229] intentionally omitted <==

3 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

Trustees Annual report for the year ended 31 MARCH 2024

The trustees present their Annual Report and financial statements for 2023/24

Structure, Governance and Management

The charity is governed by an Approved Governing Document, commonly known as the constitution.

Relationships with Related Parties

Cornerstone Fellowship International UK is part of a wider international network of churches under the Cornerstone Fellowship International banner.

Objectives and Activities

The principal objective of Cornerstone Fellowship International UK is to advance the Christian faith for the public benefit in accordance with the statement of beliefs of the Church.

Main Activities

To achieve our objectives, the Church provides a variety of activities both to its membership and to the wider community:

1. Regular Worship Services: Held every Sunday from 2:00 to 4:00 PM.

2. Youth Programs: Weekly sessions to build a safe and positive community for young people. 3. Bible Studies and Prayer Meetings: Conducted every Wednesday and Friday for corporate worship and education.

3. Ladies’ Ministry: Weekly Tuesday meetings for Bible study and prayer.

4. Children’s Ministry: Support during services and school holidays to nurture spiritual growth and civic responsibility.

5. Teenage Mentorship: Programs to assist in the transition from childhood to adolescence.

6. House Groups: For faith growth and discipleship in members’ homes.

7. Conferences and Retreats: Annual events such as RESET Prayer Retreat and WORD-FEST.

Achievements and Performance

Spiritual Growth and Community Impact

• Stable average attendance at worship services

• Exponential membership growth as of 31 March 2023

• Positive feedback on youth and children’s programs

• Successful implementation of mentorship programs for teenagers

Key Events

• RESET Prayer Retreat 2023

• Easter Conference

• Family Christmas Conference

4 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

Financial Review

Financial Performance

• The Church is primarily funded through contributions from its membership and congregation.

• No wider public appeal for funds was made during the year.

Income and Expenditure

• Major Income Sources: Contribution by members and congregation

• Significant Expenses:

• Hire of Sunday Service Church Hall

• RESET Prayer Conference costs

• Easter Meeting expenses

• Family Conference expenses

Plans for Future Periods

• Continuation and expansion of current programs

• Planning for WORD-FEST 2025 (8-11 August 2025)

• Further development of online presence and resources

Public Benefit Statement

The trustees have referred to the Charity Commission’s guidance on public benefit when reviewing aims and objectives and planning future activities. The trustees are satisfied that the activities outlined in this report clearly demonstrate that the charity is providing a benefit to the public by advancing the Christian faith and providing various community services.

Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees:

==> picture [140 x 50] intentionally omitted <==

Signature:

Full Name: Todd Nyamhunga Position: Trustees Chairman Date: 31/12/2024

==> picture [455 x 68] intentionally omitted <==

5 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

Accountants Reports to the members of Cornerstone Fellowship International (UK)

We have prepared the accounts for Cornerstone Fellowship International UK for the year ended 31 March 2024.

With regards to our examination, no matter has come to our attention which give us reasonable cause to believe that any material respect of the Companies Act 2006, or The Charities Commission have not been met.

In our opinion the books of accounts and records thereof have been kept in an acceptable manner, and the accounts presents a true record and result for the year ended 31 March 2024.

==> picture [455 x 121] intentionally omitted <==

Fortune Chikonyora ACCA MSc BA Fortune Tax Accountants Ltd Derwent House 42-46 Waterloo Road Wolverhampton WV1 4XB

==> picture [455 x 323] intentionally omitted <==

6 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

INCOME AND EXPENDITURE STATEMENT FOR THE YEAR TO 31 MARCH 2023

==> picture [455 x 31] intentionally omitted <==

Notes	2024 £	2023
	£	£
Incoming Resources 2	21,588	13,322
Fund Raising Costs Gross Income Administrative Expenses 3 Administration: Salaries & Wages Governance Costs
	-	-
	21,588	13,322
	(24,486)	(18,430)
	-	-
	-	-
Total Resources Expended Net Funds Movement	(24,486) (2,898)	(18,430)
		(5,108)

7 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

FINANCIAL POSITION AS AT 31 MARCH 2024

Notes CURRENT ASSETS Bank Current Account Bank Savings Account CURRENT LIABILITIES Creditors 4 Net Current Assets RESERVES Unrestricted Income Funds Retained Surplus B/F Surplus for the year TOTAL CHARITY FUNDS	2024
	281
	2,144
	2,425
	(1,000)
	1,425
	4,323
	(2,898)
	1,425

Approved by the Board of Trustees

Signed…………… ……………… Board of Trustees

8 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with Companies Act 2006 and with applicable accounting standards as required by The Charities Commission.

Cash flow statement

The accounts do not include a cash flow statement because the church, as a small reporting entity, is exempt from the requirements to prepare such statement under Financial Reporting Standards 1 “Cash Flow Statement”.

Fund accounting

General fund comprises the accumulated surplus or deficit on the income and expenditure account. It is available for use at the discretion of the management board in furtherance of the general objectives of the Charity.

Value added tax.

Irrecoverable value added tax is charged to administration expenses.

Taxation

The income of the Church is applied entirely for Church purposes and being a non-profit making organisation, no taxation arises on its income.

Income and other expenditure

Interest income is considered when receivable and expenditure when incurred by the Church regardless of when payment is made.

2. ANALYSIS OF INCOMING RESOURCES

INCOMING RESOURCES	2024	2023	2023
	£	£
Members VoluntaryContribution	21,588	13,322
TOTAL	21,588	13,322

9 | P a g e

CORNERSTONE FELLOWSHIP INTERNATIONAL(UK) ANNUAL REPORT AND ACCOUNTS

3. ANALYSIS OF RESOURCES EXPENDED

	2023		2022
	£		£
Accountancy fees Allowances Church Hall Hire Conferences Expenses Donations General Expenses Telephones Bank Charges Stationery and printing Travel and subsistence Youth Activities	300 3,230 4,140 12,108 3,035 220 200 60 - 1,194 -		300 3,680 3,110 4,381 4,284 100 120 60 - 2,395 -
TOTAL	24,486		18,430

1. The creditors amount is the amount to be paid to the accountants.

10 | P a g e