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2021-03-31-accounts

CORNERSTONE EVANGELICAL CHURCH

ABERGAVENNY

_______

REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31[st] MARCH 2021

_______

C Management Services 69 Velindre Road Whitchurch Cardiff CF14 2TF

CORNERSTONE EVANGELICAL CHURCH

FOR THE YEAR ENDED 31[ST] MARCH 2021

CHARITY INFORMATION

Trustees:

Martin Brown Tim Beckingsale Andrew Cottom Jonathan Thomas

Pastor: Jonathan Thomas Treasurer: Phillip Baldridge Charitable position: Charitable Incorporated Organisation Registered Charity number 1175258 Governing Document: Association CIO Constitution registered 20[th] October 2017 effective date 1[st] April 2018

Address for correspondence:

Cornerstone Evangelical Church Office 2/3 Horsingtons Yard Abergavenny Monmouthshire NP7 5PN

Independent Examiner:

Paul Burnell ACMI

C Management Services 69 Velindre Road Whitchurch CARDIFF CF14 2TF

Bankers:

HSBC 2 Frogmore Street ABERGAVENNY NP7 5AF

CONTENTS

CONTENTS
Page
Charity Information 2
Treasurers Report 3-6
Independent Examiners Report 7
Statement of Financial Activities 8
Statement of Assets and Liabilities 9
Notes to the Accounts 10

2

Cornerstone Evangelical Church (Abergavenny) Registered Charity – 1175258

Annual Report and Accounts of the Trustees for the year ending 31[st] March 2021

Charity Details

Name :- CORNERSTONE EVANGELICAL CHURCH (Abergavenny)

Registered:- 20 October 2017

Organisation Type:- Charitable Incorporated Organisation

Registered purposes:-

The purposes of the Church are:

  1. the advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within Abergavenny and the surrounding neighbourhood; and

  2. such other charitable purposes as shall, in the opinion of the members of the Church in general meeting, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to: the prevention and relief of need, hardship and sickness; and the advancement of education;

provided that the advancement of such purposes must be undertaken in a manner that is consistent with the Doctrinal Distinctives and Ethical Statements as may be adopted and amended by the Church from time to time in accordance with the provisions of the Church Handbook.

Trustees – 2020/21 (no change)

Andrew Cottom Jonathan Thomas Martin Brown Timothy Beckingsale

Membership - at the end of March 2020 there were 83 formal members of CEC. This is a net reduction of 4 compared to the previous year. The reduction was due to members moving away and sadly, 2 deaths. A number of applications have been made in 2021/22. In addition, the church continues to welcome and include a number of families and individuals in its activities who chose not to take up membership at the present time.

Main Activities in pursuant of purpose

In 2019/20, the main activities through which we sought to pursue our purposes were

o Preaching and teaching of God’s word – the Bible - to encouraging a deepening of our personal experience of God and a closer walk with Jesus as our King. For much of the year ending 31 March 2021, the preaching and teaching ministry of the church was conducted on-line. This included:-

3

o Caring for each other – the approach of the church is to encourage natural networks of care within its membership and attendees. The Elders maintain an oversight of pastoral needs. When regulations permitted it, pastoral visiting remained a main stay of pastoral care. Small / home groups have the dual purpose of teaching and supporting one another. Through the period of the pandemic, a small team of volunteers – “the Welcome” – made phone calls to people of the church. Frequency depended on need. The purpose was to keep in touch, support those on their own in articular through conversation, encouragement and prayer. Over 1000 calls were made by this team.

Staffing

To enable the church/charity to meet its purposes, it employed three members of staff for different periods during the year:-

Buildings

CEC(Abergavenny) does not own a building. The mains centres it uses are:-

o Deri View Primary School, Abergavenny – used during 2020/21 for our Sunday activities when regulations permitted. It is occupied under licence

o Cornerstone Centre, 2/3 Horsingtons Yard, Lion Street, Abergavenny, NP7 5PN. This building is in the centre of Abergavenny and during the week is our main base for teaching, pastoral and community activities. The building is on lease to CEC(Abergavenny).

Finance

The Annual Accounts of CEC(Abergavenny) are included in this report together with the Independent Examiners Report of our accounts. The following table summarises our financial position:-

4

----- Start of picture text -----
2020/21 Previous
Year
Income & Expenditure £000’s £000’s
Total Income 122 122
Total Spend 128 150
Deficit for year:- (6) (28)
Funds Available 31/03/20 31/03/20
£000’s £000’s
Fund Balances 115 121
----- End of picture text -----

Whilst overall income remained static, the previous year included around £5k specifically for the Foodbank. No regular income from this source was received during 2020/21.

The graph below gives an analysis of the main areas of spend demonstrating that staffing and accommodation including equipment, represents almost 80% of our costs. This is consistent with our purpose with staffing and accommodation being the main enablers of our purpose.

GRAPH – Distribution of costs in 2020/21

----- Start of picture text -----
8.2%
10.1%
1.5% Staff
Premises(inc Equip)
Outreach
22.2% 57.9% Mission
Other
----- End of picture text -----

There are no material liabilities recorded in the accounts.

Risk Management

The Trustees 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.

5

Public Benefit requirement

In planning the activities the Trustees have applied the guidance issued by the Charity Commission on public benefit in December 2008 .

This Report was approved by the Trustees on 11[th] October 2021and is signed on their behalf by

………………………………………………………. Andrew Cottom

6

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF CORNERSTONE EVANGELICAL CHURCH

I report on the accounts of the Trust for the year ended 31 March 2021, which are set out on pages 7-10.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Paul Burnell

Paul Burnell ACMI 11[th] October 2021 For and on behalf of:

C Management Services (trading name of C Mgmnt Services Ltd) 69 Velindre Road

Cardiff CF14 2TF

7

CORNERSTONE EVANGELICAL CHURCH

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31[ST] MARCH 2021

Note
RECEIPTS
Receipts from generated funds
2
Receipts from charitable
activities
3
Other receipts
4
Total Receipts
PAYMENTS
Charitable activities
5
Governance costs
Total payments
Net Receipts/(Payments)
Transfers between funds
Fund balances at 1st April 2020
Fund balances at 31stMarch
2021		 Unrestricted
Funds
£
Restricted
Funds
£
Total
Funds
2021
£
Total
Funds
2020
£
121,543
-
121,543
116,388
-
-
-
175
-
175
5,326
121,718
-
121,718
121,714
127,557
-
127,557
149,729
-
-
-
127,557
-
127,557
149,729
(5,839)
-
(5,839)
(28,015)
105,287
15,660
120,947
148,962
99,448
15,660
115,108
120,947

The notes on pages 8-9 form part of these accounts.

8

CORNERSTONE EVANGELICAL CHURCH

STATEMENT OF ASSETS AND LIABILITIES

FOR THE YEAR ENDED 31[ST] MARCH 2020

1. Fixed Assets

The value of assets owned are:
Equipment
2. Bank & Cash Balances
Investments
Cash at bank and in hand
3. Other Assets and Liabilities
Assets
Gift aid tax recovery not yet received
Liabilitie
Unbilled fee for Independent Examination		 Insurance
Value 2021
£
84,317
2021
2020
£
£
69,345
69,275
45,763
51,672
115,108
120,947
2021
2020
£
£
5,322
330
330

The accounts were approved by the Trustees and signed on their behalf on 16[th] October 2020

Andrew Cottom, Trustee

The notes on pages 9-10 form part of these accounts.

9

CORNERSTONE EVANGELICAL CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] MARCH 2021

1. Accounting Policies

The accounts have been prepared on a receipts and payments basis with a statement of assets and liabilities

2. Voluntary receipts
Gift Aid donations
Other donations
Tax recovered		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
84,980
-
84,980
87,332
14,837
-
14,837
7,788
21,726
-
21,726
21,268
121,543
-
121,543
116,388

3. Receipts from charitable activities

Conferences and events
4. Other Receipts
Grant received
Investment income
Other sundry receipts
5. Charitable activities
Salaries, pensions and expenses
Foodbank
Outreach
Youth
Pulpit supply
Grants & donations (note 5c)
b. Support and Administration
Printing, postage, stationery &
equipment
Rent and other property bills
Catering
Insurance
Fees & subscriptions
Website & software
Miscellaneous
c. Grants
Organisations
Individuals		 -
-
-
Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
-
86
-
86
162
89
-
89
5,164
175
-
175
5,326
Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
73,200
-
73,200
61,220
-
-
-
4,774
1,985
-
1,985
3,715
-
-
-
154
575
-
575
660
12.949
-
12.949
6,905
88,709
-
88,709
77,428
6,245
-
6,245
22,490
28,051
-
28,051
39,205
170
-
170
650
1,757
-
1,757
2,071
1,396
-
1,396
900
749
-
749
229
480
-
480
6,756
38,848
-
38,848
72,301
Institutions
£
Individuals
£
2021
£
2020
£
4,949
-
4,949
155
7,500
500
8,000
6,750
12,449
500
12,949
6,905

10

6. Staff and Trustees

The charity has three employed staff members, two of which are part-time and the third was part-time until the final three months of the year when he became a full-time staff member. Its activities are generally carried out by volunteers. No staff received salaries at a rate of more than £60,000 per annum.

The pastor, Jonathan Thomas received a salary of £25,190 in his capacity as pastor of the church.

No remuneration or trustee expenses were paid to any other trustee during the year, nor to any person connected to them.

7. Funds

The restricted funds represent amounts received for specific purposes and the movements in the year areas follows:

Building
Close Encounters		 Opening
Balance
£
Receipts
£
Payments
£
Transfers
in the year
£
Closing
balance
£
15,274
-
-
-
15,274
386
-
-
-
386
15,660
-
-
-
15,660

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