## **CORNERSTONE EVANGELICAL CHURCH**
# **ABERGAVENNY**
Charitable Incorporated Organisation Registered Charity number 1175258
**_____________________________________**
## **REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 31[st] MARCH 2023**
**_____________________________________**
**CORNERSTONE EVANGELICAL CHURCH** For the Year Ending 31[st] March 2023
CIO Ref: 1175258
## **CONTENTS**
||Page|
|---|---|
|Charity Information|2|
|Trustees Report|3-7|
|Independent Examiners Report|8|
|Statement of Financial Activities|9|
|Statement of Assets and Liabilities|10|
|Notes to the Accounts|11-12|
Page 2
**CORNERSTONE EVANGELICAL CHURCH** For the Year Ending 31[st] March 2023
CIO Ref: 1175258
## **CHARITY INFORMATION**
**Trustees:** Martin Brown Tim Beckingsale Andrew Cottom Jonathan Thomas Sarah Kirkwood (appointed 28.09.22) Neil Holloman **Pastor:** Jonathan Thomas **Treasurer:** Phillip Kindred **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:** Nicola Lewis EasyBooks (Wales) Ltd Unit 4 Dragon 24 North Dock Llanelli SA15 2LF **Bankers:** HSBC 2 Frogmore Street ABERGAVENNY NP7 5AF
Page 3
**CORNERSTONE EVANGELICAL CHURCH**
CIO Ref: 1175258
For the Year Ending 31[st] March 2023
## **Annual Report of the Trustees**
## **Charity Details**
Name: CORNERSTONE EVANGELICAL CHURCH (Abergavenny) Registered: 20th 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 area; 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.
## **Structure, Governance and Management**
Cornerstone Evangelical Church is a CIO. Our governing document is the church constitution, which is approved by church members, and supported by further provisions in a church handbook, which specifies the percentage of the vote required to pass certain resolutions.
**T** he trustees are listed on page 3 and are elected by the membership of CEC and voted upon at formally constituted members meetings. Trustees meet six times a year, with a planned structure in place to ensure appropriate governance of the charity’s resources. These meetings ensure there are mechanisms in place to monitor all of our key areas of responsibility when it comes to overall management and administration of the charity, such as financial stewardship, risk management, safeguarding, data protection and health and safety.
**Membership** -. Our members form the backbone of our activities, voluntarily giving up their time to serve in a number of different areas, such as bible teaching, children’s work, catering, music and event planning. We hold 3-4 members meetings throughout the year, including an AGM, to keep members informed and up-to-date and to vote on relevant issues, according to the guidelines set out in our handbook.
In addition, the church continues to welcome and include a number of families and individuals in its activities who, while not formal members, continue to attend and benefit from the pastoral care and support offered by the church.
**Staffing -** To enable the church/charity to meet its purposes, it employed three members of staff for different periods during the year:
Page 4
CIO Ref: 1175258
## **CORNERSTONE EVANGELICAL CHURCH**
For the Year Ending 31[st] March 2023
- Pastor Jonathan Thomas – employed for the whole of the year on a full-time basis
- Church Administrator – a part-time role, employed for the whole of the year.
- Children, Youth and Families Worker – a part-time role, starting in September 2022.
**Buildings –** CEC (Abergavenny) does not own a building. The main centres it uses are:
- Deri View Primary School, Abergavenny – used for our Sunday activities. It is occupied under licence.
- 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).
## **Objectives, Activities and Achievements**
In 2022/23, 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. This included:-
- Sunday morning congregational worship service as the centre point of CEC’s ministry. Our gatherings of between 100-150 people provide a weekly opportunity to worship together, sit under God’s word for Bible teaching and preaching, and have times of informal fellowship though providing free refreshments following the service. There are also groups for children and young people from the ages of 0 – 16.
- Sunday evening teaching service – our evening services returned in-person this year, following a lengthy period of online-only meetings during the Covid pandemic.
- Community groups – these groups provide an opportunity to study God’s word in small informal settings, and a chance to deepen friendships and create support networks. Many of these groups meet in people’s homes, while others use the Cornerstone Centre, or have chosen to remain on Zoom.
- We continue to provide age-appropriate teaching of the Bible to children aged 0 to 14 at Sunday services through our crèche, Sunday School and Narnians group.
- Specific outreach events held throughout the year are designed to encouraged people exploring the Christian faith for the first time. We held an event featuring a former professional footballer as our main speaker, and we also began a Christianity Explored course where, over a 7-week period, people were able to discuss their thoughts and ask questions.
o **Caring for each other** – the approach of the church is to encourage networks of care within its membership and attendees. These either happen naturally in an ad-hoc way from the social contacts made through our events and services, or in a more structured way through our meetings and events.
Specific ways we have worked to help care and support networks flourish within our fellowship included:
- **Community groups** These groups cover all ages and stages of the church, and have the dual purpose of teaching and supporting one another. Venues and schedules vary depending upon the needs and preferences of the group.
- **Pastoral visiting** The Elders maintain an oversight of pastoral needs and they meet twice a month. Pastoral visiting remains a main stay of pastoral care, either by the church pastor, Jonathan Thomas, or through other elders and church members who visit one another and
Page 5
CIO Ref: 1175258
## **CORNERSTONE EVANGELICAL CHURCH**
For the Year Ending 31[st] March 2023
regularly provide hospitality. There is a particular focus on pastoral visits for those who are housebound, or struggling through illness or bereavement.
- **Events for men** such as our men’s breakfast in July, and a curry night in February.
- **Events for women** A regular programme of Saturday morning events to help encourage and build up the women in our congregation.
- **Fuel poverty fund** With rising fuel costs becoming an increasing issue, we began a fuel fund which church members could donate towards. This fund was then made available to their fellow church members to apply for financial help to meet essential bills. During the year, £470 was given to church members through this fund, following a grant-making policy approved by trustees.
- **Lunches and teas** We held a Newcomers Lunch in the spring at the Abergavenny Community Centre to welcome people who have begun attending the church since Covid, and a fellowship tea in the Autumn.
- **Serve our local community** . In 2022/23, this was carried out through:-
- **The Welcome** – this weekly meeting initially started out in October 2022 as a ‘Warm Bank’ to provide a warm and welcoming space for those struggling with rising fuel costs, but has continued beyond the winter months as a regular coffee morning to provide a regular opportunity for conversation and company.
- **Go Wild!** – a monthly outdoor club for children aged 0-10, based in Castle Meadows, Abergavenny. Children from the church, along with friends and visitors, come along to the woods (accompanied by an adult), for a time of fun activities, followed by a short time of bible teaching related to the activity. At Christmas, we were also able to provide hot drinks and gingerbread.
- **Holiday bible club –** In the summer holidays, we worked with the Salvation Army to provide a three-day Holiday Activity Club for children aged 4-11. There were games, craft, Bible teaching, and trips out. Over 50 children from the local area attended.
- **Christmas trail** – This free, family-trail around Abergavenny was designed to tell people the Christmas story in a new and innovative way. The self-guided trail took participants around the town on the day of the Christmas market. A free pack, with chocolate, craft and a book, was available for every participant at the end of the trail.
- **Children and Youth Work** - During 2022/23, we were able to grow our work among children and young people, thanks to the employment of a Children, Families and Young People’s Worker, Emily Phillips. A Monday after-school club called Cornerstone Kids provides games, songs and activities for primary-school aged children, while there are now two separate Friday evening meetings for youth in secondary school. In March, a series of three discussion sessions for young people aged 12 and above helped teens to navigate some of the difficult issues they face today by looking at what the Bible has to say about them. Children aged 10+ were also able to take part in a fun organised overnight camp in September.
In planning these activities, the Trustees have applied the guidance issued by the Charity Commission on public benefit.
## **Finance**
The full accounts are included in this report together with the Independent Examiners Certificate.
Overall income was up on last year due to extra donations to fund the Family worker role and also an increase in the number of members giving. The family worker role was originally budgeted as a full time role starting in September, but was filled at 0.7 of a role, this has contributed to our spending being less than budgeted and culminated in a surplus of 21k. Staffing now accounts for over 50% of the church expenditure.
Page 6
CIO Ref: 1175258
**CORNERSTONE EVANGELICAL CHURCH** For the Year Ending 31[st] March 2023
The graph below gives an analysis of the main areas of spend demonstrating that staffing and accommodation including equipment, represents the majority of our costs. This is consistent with our purpose with staffing and accommodation being the main enablers of our purpose.
During the past year the church members contributed nearly £2000 to the fuel poverty fund of which £470 has been claimed. Giving to Mission partners was just over 16k with a further 2k being given in response to specific needs via our mercy ministries budget.
**----- Start of picture text -----**
Expenditure 2022/23
Staffing
Premises
Outreach
Mission Partners
Ministry expenses
Governence
**----- End of picture text -----**
This Report was approved by the Trustees on ………………… and is signed on their behalf by
………………………………………………………………………
Neil Holloman (Chair of Trustees)
Page 7
**CORNERSTONE EVANGELICAL CHURCH**
CIO Ref: 1175258
For the Year Ending 31[st] March 2023
## **INDEPENDENT EXAMINERS REPORT to the Trustees of CORNERSTONE EVANGELICAL CHURCH**
I report on the accounts of the Trust for the year ended 31 March 2023, which are set out on the following pages.
## **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:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **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:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
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.
Signed:
Nicola Lewis on 8[th] December 2023
Page 8
**CORNERSTONE EVANGELICAL CHURCH**
CIO Ref: 1175258
For the Year Ending 31[st] March 2023
## **Receipts and Payments Account**
|Note
**INCOME**
Donations received
2
Grants Received
2
Bank Interest Received
4
Tax Rebate from Gift Aid
2
Other Income
4
**TOTAL INCOME**
**EXPENDITURE**
**Charitable Expenditure**
Management, Administration & Ministry
5
Accounting & Bookkeeping Fees
5
**TOTAL Expenditure**
NET INCOME Before transfers
Transfers Between Funds
NET INCOME After transfers
**NET MOVEMENT IN FUNDS**
Total Funds Brought Forward
Total Funds Carried Forward||**Unrestricted**
**Funds**
123,317
0
346
26,772
309|**Restricted**
**Funds**
2,001
0
0
0
0|**Restricted**
**Funds**
2,001
0
0
0
0|**Total**
**Funds**
125,318
0
346
26,772
309
152,745
130,066
1,627
131,693
21,053
0
21,053
**21,053**
137,786
158,838|**last year**
125,912
0
74
21,689
153|
|---|---|---|---|---|---|---|
||||||||
|||150,744||2,001||147,828|
|||129,596
1,627||470
0||124,691
459|
|||131,223||470||125,150|
||||||||
|||19,522||1,531||22,678|
|||0
19,522||0
1,531||0
22,678|
|||**19,522**||**1,531**||**22,678**|
|||122,126
141,647|15,660
17,191|||115,108
137,786|
Page 9
**CORNERSTONE EVANGELICAL CHURCH**
CIO Ref: 1175258
For the Year Ending 31[st] March 2023
## **Statement of Assets and Liabilities**
As at 31st March 2023
## **1. Fixed Assets**
The Value of Assets owned by the charity at cost are as follows:
|Equipment
**2. Bank and Cash Balances**
Investment Accounts
Current & Deposit Accounts
**3. Othet Assets and Liabilities**
Assets:
Gift Aid tax not yet received
Liabilities:
Fee for Independent Examination
PAYE due to HMRC
Pension Due to Pension Funds||**This Year**
92,691
**This Year**
69,590
89,248
158,838
**This Year**
7,510
756
1,597
0
2,353|**Last Year**
92,691
**Last Year**
69,414
68,372|
|---|---|---|---|
||||137,786|
||||**Last Year**
7,288|
||||350
0
0|
||||350|
The financial statements were approved by the Board and were signed on its behalf by:
Signed by………………………………………. ..........
Print Name………………………………………........... Date........................................ **On behalf of the board of Trustees**
Page 10
**CORNERSTONE EVANGELICAL CHURCH**
CIO Ref: 1175258
For the Year Ending 31[st] March 2023
## **Notes to the Accounts**
## **1. Accounting Policies**
The accounts have been prepared on a receipts and payments basis with a statement of assets and liabilities
## **2. Voluntary receipts**
|**2. Voluntary receipts**||||
|---|---|---|---|
|Regular gifts and Offerings
Other donations
Tax recovered|Unrestricted
Funds
Restricted
Funds|
Total This
Year|
Total Last
Year|
||121,997
0
1,320
2,001
26,772
0|121,997
3,321
26,772|96,544
29,369
21,689|
||150,089
2,001|152,090|147,602|
## **3. Receipts from charitable activities**
None in this year
|**4. Other Receipts**
Grant received
Investment income
Other sundry receipts|Unrestricted
Funds
Restricted
Funds|
Total This
Year|
Total Last
Year|
|---|---|---|---|
||0
0
346
0
309
0|0
346
309|0
74
153|
||655
0|655|227|
|**5. Charitable activities**
Employee Costs
Outreach
Worship
Youth & Children
Pulpit supply
Postage, stationery & equipment
Conferences & Training
Rent and other premises costs
Catering
Insurance
Fees & subscriptions
Website & software
Miscellaneous
Grants to Organisations
Grants to Individuals|Unrestricted
Funds
Restricted
Funds|
Total This
Year|
Total Last
Year|
|---|---|---|---|
||65033
0
3075
0
602
0
867
0
425
0
3643
0
409
31278
0
581
0
2358
0
1177
0
3851
0
270
0
3445
0
12583
470|65033
3075
602
867
425
3643
409
31278
581
2358
1177
3851
270
3445
13053|57,400
3,138
596
0
1,625
4,324
0
29,429
129
2,155
1,307
150
1,110
4,020
19,308|
||129596
470|130066|124,691|
Page 11
**CORNERSTONE EVANGELICAL CHURCH**
CIO Ref: 1175258
For the Year Ending 31[st] March 2023
## **6. Staff and Trustees**
The charity has three employed staff members during this year. Its activities are generally carried out by volunteers. No staff received salaries at a rate of more than £60,000 per annum.
One of the trustees, Jonathan Thomas received a salary of £40,175 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 are as follows:
|Building
Fuel Poverty Fund
Close Encounters|Opening
Balance|
Receipts Payments Transfers|Closing
balance|
|---|---|---|---|
||15,274
0
386|0
0
0
2,001
470
0
0
0
0|15,274
1,531
386|
||15,660|2,001
470
0|17,191|
Page 12
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## **Signature 1**
Signed by Neil Holloman using authentication code VlBGVlhYL0huYXI/ at IP address 86.191.191.37, on 2023/12/18 16:19:27 Z.
Neil Holloman's e-mail address is: neil.holloman@btinternet.com.