CORNERSTONE EVANGELICAL CHURCH ABERGAVENNY Charitable Incorporated Organisation Registered Charity number 1175258 corners one REPORT AND ACCOUNTS FOR THE YEAR ENDED 31$t MARCH 2025
CORNERSTONE EVANGELICAL CHURCH For the Year Ending 31, March 2025 CIO Ref.. 1175258 CONTENTS Page Charity Information Trustees Report 4-8 Independent Examiners Report Receipts and Payments Account 10 statement of Assets and Liabilities Notes to the Accounts 12-13 Page 2
CORNERSTONE EVANGELICAL CHURCH CIO Ref.. 1175258 For the Year Ending 31° March 2025 CHARITY INFORMATION Trustees: Martin Blown Tim Beckingsale (resigned 30.09.241 Andrew Cottom Jonathan Thomas (resigned 31.05.24) Sarah Kirkwood (resigned 05.06.24) Neil Holloman Daniel King Jill Deborah Price (appointed January '25) Andrew John Pugh (appointed January'25) Jan Evans (appointed January'25) Pastor: Jonathan Thomas {resigned 30.05.24} Treasurer: Phillip Kindred Charitable position: Charitable Incorporated Organisation Registered Charity number 1175258 Governing Document: Association CIO Constitution règistered 20th October 2017 effective date 1st April 2018 Address for correspondence: Cornerstone Evangelical Church Office 213 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 SAF Page 3
CORNERSTONE EVANGELICAL CHURCH For the Year Ending 31° hlIarch 2025 CIO Ref.. 1175258 Annual Report of the Trustees Charity Detalls Name.. CORNERSTONE EVANGELICAL CHURCH (Abergavennyl Registered= 20th October 2017 Organisalion Type.. Charitable Incorporated Organisalion 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 wthin Abergavenny and the surrounding area., and such other charitable purposes as shall. in the opinion of the member5 of the Chllh 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 advanment of education., provided that the advancement of such purposes must be undertaken in a m8nner that is consistent with the Doctrinal Distinctives and Ethical Stslements 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 rtain resolutions. The trustee5 are elected by the membership of CEC and Voted upon at formally constited members meetings. Trustees meet six times a year, with a planned structure in place to ensure appropriate governance ofthe charity's resources. These meetings ensure there are mechanisms in Pla to monitor all Of our key areas of responsibility when it comes to overall management and administration of the charity, such as ff nancial stewardship, risk management, safeguarding, dats protection and health and safety. Membership Our membèrs fonn the backbone of our activities, voluntarily giving up their time lo setve in a number of different areas, such as bible teaching, children's work, catering, music and event planning. while some members of the church decided during the course of the year lo move on and sign their membership, we were also plèased to welcom2 several new members, which mèant that overall membership rernainecf constant al around 90 members. We hold membets meetings throughout the year, including an AGM, lo keep members infom)ed of church business, and also to vole on relevant issues, according lo the guidèlinès set out in our handbook. In addition, the church continues to welcome and include a number of families anLI individuals in it5 aclNities who, while not formal mèmbers, continue to attend and benefrt from the pastoral care and support offered by the church. Page 4
CORNERSTONE EVANGELICAL CHURCH CIO Refr 1175258 For the Year Ending 31st MarGh 2025 Staffing - To enable the chLJrchlcharty to meet 11$ purposes, CEC employed the following members of staff for dFFferent periods during the year'.- Pastor- employed for the first months of the financial yèar, before his resignation al the end of May. Church Administrator- a part-time role, employed for the whole of the year. Children, Families and Youth WDrker- a part~tirne role, employed for the whole of the year. Children's Worker, also working part-time and employed for the whole of the year. Together with the Children and Families and Youth Worker, these posts provide full-time cover for the children's and youth work. Outreach and Engagernenl Co-ordinator, a small part-time role, resigned in October 2024. In 2025, the process of crUitIng a new pastor begun, with the aim of employing a full-tirne pastor during 2025126. Buildings- CEC (Abergavennyl does not own a building. The mains ntre$ it uses are'.- King Henry Vlll 3-19 School (Primary Sitel- used during 2024125 for Sunday morning serves. It is occupied under a long-lèrm hire agre2menl. Cornerstone CentE, 213 Horsingtons Yard. Lion Street, Abergavenny, NP7 5PN. This building is in the centre of Abergavenny and during the week 15 our main base for teaching, pastoral and comrnunity aclivtties. The building is on lease lo GEC IAbergavennyl through a private landlord. other community buildings are hired on an ad-hoc basis lo support children, youth and outrèach work, such as the Guides Hall and Abergavènny Communty Cenlre. Throughout 2024125, CEC continued to search for premises in or around Abergavenny to purchase as a pemianent'home,, where we can consolidate the majority of our actThiilies under one roof. Objectives. a¢tivities and achievements In 2024125, the main actwrf£ies through which we sought to pursue our purposes were Preaching and teaching of God's word - the Bible - to en¢our8ge a deepening of our personal experience of God and a Closer walk with Jesus. This included'.- o Sunday morning congregational worship service as the cenlrè point of CEC'S ministry. Our gatherings of between 100-130 people provide a wèekly opportunity to worship together, sil under God's word for Bibl2 leaching and preaching, and have limes of informal fellowship though providing free refreshmènts following the service. There are a150 groups for children and young people from the ages of 0- 16. Sunday evening - our evening services are a smaller, more informal gathering for prayer. worship. teaching and fellowship. Community groups - these groups provide an opportunity to study God's word in small informal settings, enabling deeper friendships and the slrenglhening of pastoral care and support networks. Many of these groups meet in people's homes, while others use the Cornerstone cent or choose to meet online. o Children's Sunday groups - We continue lo provide age-appropriate leaching of the Bible to children aged O to 16 at Sunday services through our crèche, Sunday School, Narnians and CY group. Specific outreach events held throughout the year Specifical designèd around the needs of those who are newto the Christian faith wanting orwanl lo find out more, such the Christianity Explored course and Christmas Light Trail. This year, we also provided training to members on how lo clearly articulate the reasons forthe Christian faith, through our'confidenl Fa(th' course. Caring for each other- the apprDach of the church is lo encourage networks of care within its membership and attendees. These either happen naturally in an ad-hoc way through Page 5
CORNERSTONE EVANGELICAL CHURCH CIO Rèf.. 1175258 For the Year Ending 31* March 2025 friendships forged al our events. or in a morè structured way through our community groups, or by serving alongside one another through our variou5 ministries. Specific ways we have worked lo help care and support neorkS flourish within our fellowship included= o Community groups These groups cover all ages and stages of the church, and have the dual purpose of Bible teaching and supporting one another. Venues and schèdules vary depending upon the needs and prefèrèn5 of the group. o Pastoral Visiting The Elders maintain an oversight of pastoral needs and they meet l¢e a month. Pastoral visiting remains a main stsy of pastoral care, either by the church elders, or through church members who visit one another and regulady provide hospitality. There is a particular focus Dn pastoral visits for those who are housebound, or struggling through illness or bereavement. Fuel poverty fund With high fuel costs remaining an issue throughout the yèar, our fuel fund is a way to support members tD meet essenti81 bills. People Can donatè specifically lo this fund, which is thèn made available tD church members upon application, following the church grant-making policy. During the year, £450 from this fund was given to support Ghurch members facing hardship. Serve our local community. In 2024125, this was carried out through.._ The Welcome on Friday-this weekly meeting initially started out as a'warm Bank, to provide a warm and welcoming spacè for those struggling wrfch rising fuel costs, bul has continued all- year round as a regularcoffee moming to provide an opportunty forconversalion and company. o The Welcome on Wednesday-this is a Week mèeting for craft-lovers from inside and Dulside of the church to come together and enjoy each other's company and swap tIPs and ideas. Go Wildl a monthly ouldoDr club for children aged 0-10, basèd in Castle Meadows, Abergavenny. Children from the church, along wlch friends and visrtors, come along lo the woods (accompanied by an aduf(I, for a time of fun actwrties, followed by 8 short time of bible teaching related lo the actThiity- Christmas Light Trail- This family light trail in Linda Vista Gardens was a hugely successful community event. Around 700 people came lo this frèe, self-guided trail through the trees, with decorated lrt-up stars telling the Christmas story in amongst hundreds of twinkly fairy lights. A free pack, with chocolate, Craft and a book, was available for every participant al the café al the end of the trail. Children and Youth Work- Our frèe Monday after-s¢hool club 'Comerslone Kids, continued to thrwe, providing games, snacks and activities for primary-school aged children. There are two separate Friday evening meetings ft)r youth in secondary school, also free, with opportunities for discussion and socialising, along wrfch special events such as bowling, firepils and NERF nights. We held o¢¢asional Sunday evening discussion sessions for young people sged 12+ to look at what the Bible has lo say about contemporary issues. Children aged 10+ were also able to lake part in a fun day in September. Baby & Toddlers -'Pebbles' continues to be well attended, wrf(h around 20 families returning weekty. This is a free group with opportunities for unstructured play as well as organised songs, storiès and crafts, with heavchy snacks for the children, and a cuppa for the grown-ups. Further support is a150 provided ID Pebbles parènts and carers through regular social events, such as meals out and a very well attended Christmas wreath making workshop. Abergavenny Carnival In September, we supported the Abergavenny Carnival in Bailey Park, with a Comerslone stand providing free crafts and stories for children. All our volunteers working with children, young people or adults with care and support needs, undergo DBS checks, and receive safeguarding training provided by our Designated Safeguarding Lead, supported by our Safeguarding team. Page 6
CORNERSTONE EVANGELICAL CHURCH CIO Ref.. 1175258 For the Year Ending 31* March 2025 In planning these activities, the Trustees have applied the guidance issued by the Charity Commission on public benefrf(. Finance The Annual Ac¢Dunts of CECIAbergavennyl arè included in this report together with the Independent Examiner's Report of our accounts. The following table summarises our financial posilion'.- 2024125 Previous Year Income & Ex enditure £OOO's £OOO's Total Income 151 161 Total Spend 125 147 Surplus for yea 26 14 31103125 31103124 Funds Available £OOO's £OOO's Fund Balances 199 173 Overall our'Fund Balance, was up on last yearwhich was mainly due lo the staffing budget being under budget due to our pastor leaving just after the start of the financial year. This culrninaled in a £26k inerease in overall funds. Even wrth these changès the staffing budget was still 430h of the church expenditure. The graph below gwes an analysis of the main areas of spend demonstrating that staffing and accommodation including equipment, represents the majority of our costs. This is consislenl with our purpose with staffing and accommodation being the main enablers of our purpose. A further £450 was claimed from the fuel fund which now stands at just over £600. The Mercy Ministry fund had £120 used out of the £1600 allocated. Giving lo Mission partners was just under £20k which included the gift of £6k for Noddfa church in Abersychan. Overall our fund balance is well above our Resenje limit of £80k, which includes 13 months costs al £45k, £15k building fund Irestrictèd gNingl + £20k agreed spend for finding a building). The £12k surplus from last year was also split 50'.50 with a gift of £6k being given to Noddfa church to pay for a new floor and £6k being added to our building fund. This has therefore increased our reserve limit lo £86k with £41k of this being a building fund. TheTe are no material liabilities recorded in the accounts. Page 7
CORNERSTONE EVANGELICAL CHURCH CIO Ret 1175258 Forthe Year Ending 31 sr March 2025 GRAPH- Distribution of Gosts in 2024125 Expenditure ?024/25 Sr¥ff ng PrerDises 16% Outreach Mtss.oTr Partners Mini£tr¥ penSeS 25 Mrry M.'fjfftires Govtrnen(f This Report was approved by the Truslees on . and is signed on their behalf f Neil Holloman (Chair of Trustees) Page 8
CORNERSTONE EVANGELICAL CHURCH CIO Ref.. 1175258 For the Year Ending 31. March 2025 INDEPENDENT EXAMINERS REPORT to the Trustees of CORNERSTONE EVANGELICAL CHURCH I report on the accounts of the Trust for the year ended 31 March 2025. which are sel OLJt on the following pages. Respective responslbllities 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 144121 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 geneml Directions given by the Charity Commission under section 14515llbl of the 2011 Act., and to state whether particular matters have come to my attention. Basis of independent examiners 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 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 lo 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.. 111 which gives me reasonable caLtse 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 12} to which, in my opinion, attention should be drawn in order lo enable 8 proper understanding of the accounts to be reached. Signed.. Nicola Lewis 10th October, 2025 Page 9
CORNERSTONE EVANGELICAL CHURCH For the Year Ending 31° March 2025 CIO Ref.. 1175258 Recei tsandPa ments Account Unrestricted Restrlcted Funds Funds Total Funds Note last IOmE Donations receiwl Grants Recei*d B8nk Interest Recei¥ed Tax Rebate from Gilt Aid Other Income 120.734 120,734 127,415 2,164 28,389 2,164 28,389 1,890 31.074 135 TOTAL INCOME 151.287 151,287 160,514 EXPENDITURE Charitable Expenditure Management, Administration & Ministry Accounting & Bookksèping Fees 120,084 3,883 90D 120,984 3,883 144,230 2.507 TOTAL Expendithre 123,966 900 124,868 146.737 NET INCOME Before transfers 27.321 19001 26,421 13,777 Transfèts Between Furth 16.CQOI 6,OCQ NET INCOME After transtsrs 21,321 5,100 26,421 13,7fK NET MOVEMEMf IN FUNDS 21.321 5,100 26,421 13.777 Total Ftsnds Brought Forward Tot81 Funds Carried Forwa 135,858 157, 178 36,758 41,858 172.615 199.036 158.838 172,615 Page la
CORNERSTONE EVANGELICAL CHURCH CIO Ref.. 1175258 Forthe Year Ending 315t March 2025 Statsment of Assets and Liabllfties As at 31st March 2024 1. Fixèd Asts The Value of Assets owne4 by the chartty at c(£t are as follo8.. This Year 91691 Last Year 92691 EqLJipment 2. Bank and Cash Balances Intment Accounts Current & t)epo$it Accounts Thts Year 71,%3 127.473 199,036 Last Year 70.499 102,117 172,618 3. Other A5ts and Liabillties This Year L8St Year Assets.. Gitt Aid tsx not yet recei%ed 8,245 7,328 Li8bilities- Fee for IndeFEndent Examination PAYE due to HMRC Pension Due to Penslon Funds 792 262 1,102 The fjnancial stateme were a[pred by th2 8oatd and weie signed on its behalf by.. Signed by......... fvj PL-kE) LLO m Print Nane....-............................. On belialf of the board of Trustees Page 11
CORNERSTONE EVANGELICAL CHURCH CIO Ref.. 1175258 For the Year Ending 31%t March 2025 Notes to the Accounts 1. Accounting Policies The accounts have been prepared on a receipts and payments basis with a statement of assets and 2. Voluntary receipts Unrestricted Funds Restricted Funds Total This Year Totsl Last Year Regular gifts and Offerings Other donations Tax reco¥ered 119,254 1,480 28,389 149,123 119,254 1,480 28.389 149,123 124,532 2,883 31,074 158.490 3. Receipts from charitable activities None in this year 4. Other Rèceipts Unrestricted Funds Rèstricted Funds Total This Year Total Last Year Grant reCeid Instment income 2.164 2,164 1.890 135 Other sundry receipts 2,164 2,164 2,025 5. Charitable activitiès Unrestricted Funds Restricted Funds Total This Year Total Last Year Employee Costs OLrtreaGh Worship Youth & Children Pulpit suppty Postage, stationery & equipment CLinferences & Training Rent and other premises eosts Catering Insurance Fees & subscription5 Website & sofiware Miscellaneous 51,547 4,760 423 51,547 4,760 423 75,995 7897 373 1,326 1,162 3,275 340 7,326 1,162 3,275 340 1166 500 1.435 738 31,235 6SO 450 31,685 650 31,248 614 4,097 1,392 697 4.097 1,392 697 2,210 1,108 4.027 171 84 3,946 15,599 120,984 Grants lo Organisations Grants lo IndiiKduals 3,946 15,149 120,084 3,043 13,705 450 900 144,230 Page 12
CORNERSTONE EVANGELICAL CHURCH CIO Ref.. 1175258 For the Year Ending 31 March 2025 6. Stsff and Truslees The charity has three employed staff members during this year. rts acliirities are generally carried out by lunteerS. No staff reCeId salaries al a rate of more than £SO,000 per annltm. One of the staff members, Jonathan Thomas recei a salary of £7,382.18 in his capacty as pastor of the church. He has sinc& left employment on 31.5.24. Ther& were no truste? expenses in the year, nor lo any person connected lo them. 7. Funds The restricted fvnds represent amounts recei%ed for specific purposes and the m0MentS in the year are as follows.. Opening Balance Closing balance Receipts Payments Transfer5 Building Fu&1 P0rtY Fund Close Encounters 35,274 1,098 386 450 6,000 40,824 450 386 36,758 900 6,000 41,858 Page 13