Charity no 1181230 ## **Chief Cornerstone House** ## **Annual Reports and Accounts** **01 January 2021 - 31 December 2021** **Prepared by DTT Consultancy Ltd** ## **Chief Cornerstone House** ## **CONTENTS** |Reference and administrative details of the charity||3| |---|---|---| |Trustee's Report||4| |Statement of financial activities||5| |Balance sheet||6| |Notes to the financial statements|7|- 12| ## **Chief Cornerstone House** ## **REFERENCES AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTESS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021** |**Trustees**|Michael Nyamekye Davids (Chair)| |---|---| ||Nicole Chioma Davids| ||Victoria Ayisah| |**Minister In Charge**|Michael Nyamekye Davids| |**Charity registration no**|1181230| |**Principal office**|The Watling Centre| ||145 Orange Hill Road| ||EDGWARE| ||HA8 0TR| |**Independent Examiner**|Tunji Ogedengbe| ||36 Daffodil Close| ||Hatfield| ||AL10 9FF| |**Bankers**|Barclays| ## **Chief Cornerstone House** ## **Trustees Reports for year ended 31 December 2021** ## **The trustees present their financial statement for the year ended 31 December 2021** The principal activity of the organisation continues to be: Propagation of the Gospel according to the teaching of JESUS CHRIST ## **Statement of Trustee Responsibilities** The Trustee are required to prepare financial statement that give a true and fair view of the state of affairs of the organisation and of the income and expenditure of the project for that period . In preparing these financial statements, the Trustee are required to: - Select suitable accounting policies and apply them consistently - Make judgements and estimates that are reasonable and prudent - State whether applicable standards and statement of remmended practices have been followed, subject to any material departures disclosed and explained in the statements. - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the project will continue in operation. The Trustees are responsible for keeping proper records that disclose at anytime the financial position of the project. They are also responsible for the safe guarding the assets of the organisation and hence for taking reasonable steps for the prevention and detention of fraud and other irregularities. Michael Nyamekye Davids (Chair) Date: 26th October 2021 ## **Chief Cornerstone House REGISTERED CHARITY NUMBER: 1181230** ## **For the year ended 31st December 2021** I report on the accounts for the year ended 31 December 2021 set out on pages four to nine. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income did not exceed £250,000 and I am qualified to undertake the examination. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under Section 43 of the 1993 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and - to state whether particular matters have come to my attention. ## **Basis of the 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 statements 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 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the s 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. Tunji Ogedengbe 36 Daffodil Close Hatfield Herts AL10 9FF Date: 26th Oct 2021 ||**Chief Cornerstone House**|**Chief Cornerstone House**|**Chief Cornerstone House**|||| |---|---|---|---|---|---|---| ||Annualaccountsforthe period|||||| ||Period start date|**1st Jan 21**|**To**|Period end
date|**31st Dec 21**|| |||||||| |**Section A**|**Statement of**|**financial activities**||||| |**Recommended categories by**
**activity**
**Details of own**
**analysis**
Note
**Incoming resources (Note 3)**
**Incoming resources from**
**generated funds**
Voluntary income
S01
Activities for generating funds
S02
Investment income
S03
**Incoming resources from**
**charitable activities**
S04
**Other incoming resources**
S05
S06
**Resources expended (Notes 4-8)**
**Costs of Generating Funds**
Costs of generating voluntary income
S07
Fundraising trading costs
S08
Investment management costs
S09
**Charitable activities**
S10
**Governance costs**
S11
**Other resources expended**
S12
S13
S14
S15
S16
S17
S18
S19
S20
S21
**_Total resources expended_**
**_Total incoming resources_**
**_Total funds carried forward_**
**Total funds brought forward**
**_Net movement in funds_**
**_Net incoming/(outgoing) resources before_**
**_transfers_**
Prior Year Adjustment
Gains and losses on revaluation of fixed assets for the
charity’s own use
**Other recognised** **gains/(losses)**
**_Net incoming/(outgoing) resources before other_**
**_recognised gains/(losses)_**
**Gross transfers between funds**||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05||||| |||-|-|-|-|-| |||27,286|-|-|27,286|12,934| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||27,286|-|-|27,286|12,934| |||||||| |||-|-|-|-|-| |||7,093|-|-|7,093|3,504| |||-|-|-|-|-| |||-|-|-|-|-| |||14,746|-|-|14,746|4,400| |||-|-|-|-|250| |||-|-|-|-|-| |||21,839|-|-|21,839|8,154| |||5,447|-|-|5,447|4,780| |||-|-|-|-|-| |||5,447|-|-|5,447|4,780| |||||||| |||-|-|-|-|-| |||-|-|-|-|-| |||5,447|-|-|5,447|4,780| |||4,675|-|-|4,675|106
-| |||10,121|-|-|10,121|4,675| 6 ## **Section B Balance sheet AS AT 31 December 2021** |**Fixed assets**
**Tangible assets (Note 9)**
**Investments (Note 10)**
**_Total fixed assets_**
**Current assets**
**Stock and work in progress**
**Debtors (Note 11)**
**(Short term) investments**
**Cash at bank and in hand**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 12)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year (Note 13)**
**Provisions for liabilities and charges**
**_Net assets_**
**Funds of the Charity**
**Unrestricted funds**
**Restricted income funds (Note 14)**
**Endowment funds(Note 15)**
**_Total funds_**
Signed by|Note
B01
B02
B03
B04
B05
B06
B07
B08
B09

B10
B11
B12
B13
B14
B15
B16
B17
B18
B19
B20|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05| |---|---|---|---|---|---|---| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||||||| |||-|-|-|-|-| |||1,500|-|-|1,500|-| ||||-|-|-|-| |||8,871|-|-|8,871|4,925| |||10,371|-|-|10,371|4,925| |||||||| |||250|-|-|250|250| |||||||| |||10,121|-|-|10,121|4,675| |||||||| |||10,121|-|**-**|10,121|4,675| |||||||| |||-|-|-|-|-| |||-|-|-|-|-| |||||||| |||10,121|-|-|10,121|4,675| |||||||| |||10,121|||10,121|4,675| ||||||-|-| ||||-||-|-| |||||-|-|-| |||||||| |||10,121|-|-|10,121|4,675| |||-||||| |||Date of approval
Print Name
Signature||||| |||||Michael Nyamekye Davids||26th Oct 2021| |||||||| **CHIEF CORNERSTONE HOUSE - Jan 2021 to Dec 2021** ## **Section C Notes to the accounts** ## Note 1 **Basis of preparation** _**This section should be completed by all charities** ._ ## **1.1 Basis of accounting** These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with: - Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005); • and with*  Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE); - and with the Charities Act 1993. [** except for the following]. _**Give details in this box if a different standard has been followed.**_ - -Tick as appropriate:  if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;  if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial Reporting Standards for Smaller Enterprises (FRSSE)”. ** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes. ## **1.2 Change in basis of accounting** There has been no change to the accounting policies (valuation rules and methods of accounting) ## **1.3 Changes to previous accounts** No changes have been made to accounts for previous years **CHIEF CORNERSTONE HOUSE - Jan 2021 to Dec 2021** ## **Section C Notes to the accounts (cont)** ## **Note 2 Accounting policies** _**This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.**_ ## **INCOMING RESOURCES** |**Recognition of incoming**|These are included in the Statement of Financial Activities (SoFA) when:| |---|---| |**resources**| the charity becomes entitled to the resources;| || the trustees are virtually certain they will receive the resources; and| || the monetary value can be measured with sufficient reliability.| |**Incoming resources with**|Where incoming resources have related expenditure (as with fundraising or contract income)| |**related expenditure**|the incoming resources and related expenditure are reported gross in the SoFA.| |**Grants and donations**|Grants and donations are only included in the SoFA when the charity has unconditional| ||entitlement to the resources.| |**Tax reclaims on donations**|Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to| |**and gifts**|which they relate.| |**Contractual income and**|This is only included in the SoFA once the related goods or services have been delivered.| |**performance related grants**|| |**Gifts in kind**|Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised.| ||Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or| ||distributed by the charity.| ||Gifts in kind for use by the charity are included in the SoFA as incoming resources when| ||receivable.| |**Donated services and**|These are only included in incoming resources (with an equivalent amount in resources| |**facilities**|expended) where the benefit to the charity is reasonably quantifiable, measurable and| ||material_._The value placed on these resources is the estimated value to the charity of the| ||service or facility received.| |**Volunteer help**|The value of any voluntary help received is not included in the accounts but is described in
the trustees’ annual report.| |**Investment income**|This is included in the accounts when receivable.| |**Investment gains and losses**|This includes any gain or loss on the sale of investments and any gain or loss resulting from| ||revaluing investments to market value at the end of the year.| |**EXPENDITURE AND LIABILITIES**|| |**Liability recognition**|Liabilities are recognised as soon as there is a legal or constructive obligation committing the| ||charity to pay out resources.| |**Governance costs**|Include costs of the preparation and examination of statutory accounts, the costs of trustee| ||meetings and cost of any legal advice to trustees on governance or constitutional matters.| |**Grants with performance**|Where the charity gives a grant with conditions for its payment being a specific level of| |**conditions**|service or output to be provided, such grants are only recognised in the SoFA once the| ||recipient of the grant has provided the specified service or output.| |**Grants payable without**|These are only recognised in the accounts when a commitment has been made and there are| |**performance conditions**|no conditions to be met relating to the grant which remain in the control of the charity.| |**Support Costs**|Support costs include central functions and have been allocated to activity cost categories on| ||a basis consistent with the use of resources, eg allocating property costs by floor areas, or per| ||capita, staff costs by the time spent and other costs by their usage.| |**ASSETS**|| |**Tangible fixed assets for use**|
These are capitalised if they can be used for more than one year, and cost at least £500.| |**by charity**|They are valued at cost or a reasonable value on receipt.| |**Investments**|Investments quoted on a recognised stock exchange are valued at market value at the year| ||end. Other investment assets are included at trustees' best estimate of market value.| |**Stocks and work in progress**|These are valued at the lower of cost or market value.| **CHIEF CORNERSTONE HOUSE - Jan 2021 to Dec 2021** ## **Section C Notes to the accounts (cont)** ## **Note 3 Analysis of incoming resources** ## _**Incoming resources may be further analysed if this would help the reader of the accounts.**_ ||**Analysis**|**This year**
**Last year**
**£**
**£**|**This year**
**Last year**
**£**
**£**| |---|---|---|---| |**Voluntary income**|Tithes & Offering|27,286|12,934| ||||| ||||| ||||| |||-|-| |**Activities for generating**
**funds**
**Investment income**
**Incoming resources from**
**charitable activities**|**Total**|27,286|12,934| ||||| |||-|-| |||-|-| |||-|-| |||-|-| |||-|-| ||**Total**|-|-| ||||| |||-|-| |||-|-| |||-|-| |||-|-| |||-|-| ||**Total**|-|-| ||||| |||-|-| |||-|-| |||-|-| |||-|-| |||-|-| ||**Total**|-|-| **Section C Notes to the accounts (cont)** ## **CHIEF CORNERSTONE HOUSE - Jan 2021 to Dec 2021** **Note 4 Analysis of resources expended** **Resources expended may be further analysed if this would help the reader of the accounts.** |**Charitable activities**
**Costs of generating**
**voluntary income**
**Fundraising trading**
**costs**
**Governance costs**
**Investment**
**management costs**|**Analysis**|**This year**
**Last year**
**£**
**£**|**This year**
**Last year**
**£**
**£**| |---|---|---|---| ||Rent|4,513|2,576| ||Repair & maintenance|-|228| ||Music|135|-| ||Travel|-|200| ||Printing& Stationary|160|100| ||Conference|1,129|-| ||Hospitality|370|100| ||Publicity|-|100| ||Office Equipment|300|| ||Motor Expense|117|| ||Office Expense|369|| ||Other|-|200| ||**Total**|7,093|3,504| ||||| |||-|-| |||-|-| |||-|-| |||-|-| |||-|-| ||**Total**|-|-| ||||| |||-|-| |||-|-| |||-|-| ||**Total**|-|-| ||||| ||Donations & Gifts|-|650| ||Welfare|8,546|3,150| ||Missions|6,200|600| ||**Total**|14,746|4,400| ||||| ||Independent Examination|-|250| ||||| ||||| ||**Total**|-|250| **CHIEF CORNERSTONE HOUSE - Jan 2021 to Dec 2021** ## **Section C Notes to the accounts (cont)** ## **Note 5 Support Costs** _**Please complete this note if the charity has analysed its expenses using activity categories and has support costs.**_ |**_support costs._**||||| |---|---|---|---|---| |**Support cost type**|**Fundraising activity**
**£**|**Charitable Activity**
**£**|**Governance Activity**
**£**|**Total Cost**
**£**| ||-|-|-|-| ||-|-|-|-| ||-|-|-|-| ||-|-|-|-| ||-|-|-|-| ||-|-|-|-| ||-|-|-|-| |**Total**|-|-|-|-| ## **Note 6 Details of certain items of expenditure** ## **6.1 Trustee expenses** _**Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).**_ **Number of trustees who were paid expenses Nature of the expenses** ## **Total amount paid** |**This year**|**Last year**| |---|---| ||| ||| |**£**|**£**| ## **6.2 Fees for examination or audit of the accounts** _**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).**_ |**Independent examiner’s or auditors' fees for reporting on the**
**accounts**
**Other fees (for example: advice, consultancy, accountancy**
**services) paid to the independent examiner or auditor**|**This year**
**£**|**Last year**
**£**| |---|---|---| ||250|250| |||| **CHIEF CORNERSTONE HOUSE - Jan 2021 to Dec 2021** ## **Section C Notes to the accounts (cont)** ## **Note 11 Debtors and prepayments** ## _**Please complete this note if the charity has any debtors or prepayments.**_ |**Analysis of debtors**
**Trade debtors**
**Amounts due from subsidiary and associated**
**undertakings**
**Other debtors**
**Prepayments and accrued income**
**Total**|**Amounts falling due**
**within oneyear**|**Amounts falling due**
**within oneyear**|**Amounts falling due after**
**more than oneyear**|**Amounts falling due after**
**more than oneyear**| |---|---|---|---|---| ||**This year**
**£**|**Last year**
**£**|**This year**
**£**|**Last year**
**£**| ||-|-|-|-| ||-|-|-|-| ||1,500|-|-|-| ||-|-|-|-| ||1,500|-|-|-| ## **Note 12 Creditors and accruals** _**Please complete this note if the charity has any creditors or accruals.**_ **12.1 Analysis of creditors** |**Loans and overdrafts**
**Trade creditors**
**Amounts due to subsidiary and associated**
**undertakings**
**Other creditors**
**Accruals and deferred income**
**Total**|**Amounts falling due**
**within oneyear**|**Amounts falling due**
**within oneyear**|**Amounts falling due after**
**more than oneyear**|**Amounts falling due after**
**more than oneyear**| |---|---|---|---|---| ||**This year**
**£**|**Last year**
**£**|**This year**
**£**|**Last year**
**£**| |||-|-|-| ||-|-|-|-| ||-|-|-|-| ||250|250|-|-| ||||-|-| ||250|-|-|-| ## **12.2 Security over assets** _**If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.**_