Cornerstone Bath
Report and Accounts Year ended 31 March 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
CORNERSTONE BATH
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2023
ADDRESS FOR CORRESPONDENCE 52 Broadmoor Lane Bath BA1 4LA GOVERNING DOCUMENT Constitution dated 15 January 2019, amended 27 January 2022. CHARITY REGISTRATION NUMBER 1181571 TRUSTEES RESPONSIBLE FOR Katherine Dunbar MANAGING THE CHARITY Malcolm Gamon (appointed April 2021) Jonathan Nzakizwanayo Nigel Ring Daniel Romer (resigned April 2021) BANKERS National Westminster Bank Plc. INDEPENDENT EXAMINER Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
INDEX
Page 1 Legal and Administrative Details Pages 2-4 Trustees' Report Page 5 Independent Examiner's Report Page 6 Receipts and Payments Account Page 7 Statement of Assets & Liabilities Pages 8-9 Notes to the Accounts
Page 1
CORNERSTONE BATH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 March 2023.
Objects of the charity
The charity, which is a church, is governed by a constitution and is constituted as a charitable incorporated organisation. The charity's principal object, as set out in its governing document, is to advance the Christian faith in Bath, the UK and the world.
Governance
There have been two significant changes in the past year: Leadership and Name. In May 2021, on their relocation to the USA, Dan and Susie Romer handed over the senior leadership role to Malcolm and Megan Gamon. In February 2022 Gospel Collective Church was renamed Cornerstone Bath.
Responsibility for setting policy and for making operating decisions rest with the trustees who meet regularly to monitor the activities of the charity. Responsibility for the day to day operation of the charity has been delegated to the Spiritual Leadership team. New trustees are recruited and appointed by the Spiritual Leadership (para 11.1 of the constitution).
Review of the charity's main activities and achievements
Overview
This year has been a year of consolidation following last year’s change of leadership and as we have come out of the covid pandemic. We are pleased that as we returned to in-person meetings we found that no-one had decided to leave us, as sadly has happened with some churches, and indeed we have since had a slow but steady stream of visitors and growth in Sunday attendance.
Venue
During the year we moved to meeting in the morning on Sundays and are very grateful to All Saints Church, Weston, for welcoming us to their community hall, The Hub. It has proved ideal for this phase in the life of our church, especially as it is in a part of the city in which most of the leadership team live.
Community outreach
We have a great heart for the community in which we are now located and have endeavoured to reach out to get to know and serve them. Particularly we had a significant outreach at the end of November, in the run-up to Christmas, with a Saturday of activities for families in the area and a carol service on the Sunday. These were both facilitated by a team of ‘interns’ from Emmanuel Church, Brighton, with whom we have a warm relationship, being in the same group of churches within the larger Newfrontiers family of churches.
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Finances
This relationship with other churches has released finance through a church planting grant to allow Malcolm Gamon to be employed full-time from September. This has been significant in allowing more time to prepare for Biblical teaching on Sunday, to enhance pastoral support to members, to develop various strategies and initiatives to advance the life of the church, and to give time to develop relationships with leaders of other churches in the city where there is a healthy mutual support and honouring.
Throughout the year the giving by members has steadily increased and we are confident that we shall soon be self-supporting, without the need for further church planting grants as referred to above.
Students
We have a good relationship with Bath University and several students are embedded in the life of the church. Our heart is to see them fully integrated and discipled, equipped for whatever God leads them into as they graduate. Malcolm has been able to support the CU at Bath University by attending prayer events, speaking at a CU gathering and is developing relationships with the CU leadership.
External Mission
We have continued to give to ministries outside our church, particularly to the Beloved Trust, a ministry to help women exit prostitution in Bristol, and to Hope for Tomorrow Global which works amongst the poorest of the poor in Burundi, seeking to raise them out of poverty and to give them the dignity of being self-supporting.
Relationship with Newfrontiers
As mentioned above, Cornerstone Church is in relationship with a group of churches within the Newfrontiers family of churches. This group of churches includes Emmanuel Church, Brighton, led by Joel Virgo. Other churches in this sphere are in Canada, Poland, Germany, Netherlands and Northern Ireland as well as in England. Our partnership includes making financial contributions to help other churches in their mission, attendance at Leaders events and online prayer meetings.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Financial review
During the year income increased by £45,000, to £96,100, and expenditure increased by £31,100, to £63,600. As a result the cash held by the charity increased by £32,500, to £61,100, of which all is unrestricted and can be used for any charitable purpose.
Reserves policy
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £15,000 (which equates to about 3 months of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £61,100 and the charity is complying with the reserves policy.
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Responsibilities of trustees
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
Nigel Ring
Date: 19 June 2023
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
CORNERSTONE BATH
I report to the trustees on my examination of the accounts of Cornerstone Bath ('the charity') for the year ended 31 March 2023 on pages 6 to 9 following.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or
- the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jaimée Young
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 20 June 2023
Page 5
CORNERSTONE BATH
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| Notes Income receipts Donations Gift aid receipts Other grants Other Total receipts Payments 2 3 Total payments Transfers between funds 5 Net movement in funds Cash funds as at last year end Cash funds at this year end A Net of receipts / (payments) before transfers Grants paid in relation to charitable activities undertaken by others Payments in relation to charitable activities undertaken directly |
General Designated Funds Funds £ £ 40,748 - 5,965 - 47,000 - 37 - 93,750 - 54,945 - 6,337 - 61,282 - 32,468 - - - 32,468 - 28,877 - 61,345 - Unrestricted Funds |
Restricted Funds £ 1,675 534 - 180 2,389 - 2,344 2,344 45 - 45 (284) (239) |
Total 2023 £ 42,423 6,499 47,000 217 96,139 54,945 8,681 63,626 32,513 - 32,513 28,594 61,107 |
Total 2022 £ |
|
|---|---|---|---|---|---|
| General Funds £ 40,748 5,965 47,000 37 93,750 54,945 6,337 61,282 32,468 - 32,468 28,877 61,345 |
|||||
| 26,372 2,922 20,000 1,831 |
|||||
| 51,124 | |||||
| 24,470 8,019 |
|||||
| 32,489 | |||||
| 18,636 - |
|||||
| 18,636 9,958 |
|||||
| 28,594 |
The notes on pages 8-9 form part of these accounts.
Page 6
CORNERSTONE BATH
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 31 MARCH 2023
| A Cash funds Cash at bank with immediate access Petty cash B Other monetary assets Gift aid due to charity Prepayment Other debtors C Liabilities Falling due within one year: Pension due Fee for Independent Examination Accrued expenses D Assets retained for charity's own use Equipment and contents |
General Designated funds funds £ £ 61,338 - 7 - 61,345 - 9,793 - 623 - - - 10,416 - 418 - 864 - - - 1,282 - Unrestricted Funds |
Restricted funds £ (239) - (239) 239 - 180 419 - - - - |
Total 2023 £ 61,100 7 61,107 10,032 623 180 10,835 418 864 - 1,282 Value 2023 £ 8,300 8,300 |
Total 2022 £ |
|---|---|---|---|---|
| 28,513 81 |
||||
| 28,594 | ||||
| 6,391 - 20,000 |
||||
| 26,391 | ||||
| 161 522 530 |
||||
| 1,213 | ||||
| Value 2022 £ |
||||
| 1,010 | ||||
| 1,010 |
The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
E Guarantees and secured debts
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf
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by date
Nigel Ring 19 June 2023
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The notes on pages 8-9 form part of these accounts.
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CORNERSTONE BATH
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2 Payments in relation to charitable activities undertaken directly Employment costs Ministry cost Equipment, software and communications Venue hire Hospitality and visiting speakers Insurance Governance Administration and support 3 Grants and gifts paid to others Organisations: Clarendon Trust Beloved Hope For Tomorrow Global Catalyst Network of churches Organisations < £1,000 Individuals |
Unrestrict | Designated funds £ - - - - - - - - - - - - - - - - ed Funds |
Restricted Funds £ - - - - - - - - - 2,094 - - 250 - - 2,344 |
Total 2023 £ 38,468 3,470 4,759 3,621 1,765 716 522 1,623 54,945 4,484 1,000 1,000 250 1,575 372 8,681 |
Total 2022 £ |
|
|---|---|---|---|---|---|---|
| General funds £ 38,468 3,470 4,759 3,621 1,765 716 522 1,623 54,945 2,390 1,000 1,000 - 1,575 372 6,337 |
||||||
| 11,541 3,488 3,285 2,206 2,066 524 - 1,360 |
||||||
| 24,470 | ||||||
| 1,600 - 1,881 2,889 1,000 650 |
||||||
| 8,019 |
4 Transactions with related parties
Malcolm Gamon served as a church leader and was paid £35,856 [2022: £10,835] for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
No payments were made to any other trustees or persons related to them, except for reimbursement of expenses paid out on behalf of the charity.
Page 8
CORNERSTONE BATH
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
| 5 Movement of funds General funds Restricted funds Ukraine Appeal Deposits for church weekend Gift day Total funds |
Opening balance £ 28,877 28,877 (284) - - (284) 28,594 |
Receipts £ 93,750 93,750 534 180 1,675 2,389 96,139 |
Payments £ (61,282) (61,282) (250) - (2,094) (2,344) (63,626) |
Transfers £ - - - - - - - |
Closing balance £ |
|---|---|---|---|---|---|
| 61,345 | |||||
| 61,345 | |||||
| - 180 (419) |
|||||
| (239) | |||||
| 61,107 |
Funds raised for the Ukraine Appeal were sent as part of a partnership with the Newfrontiers family of churches all contributing towards a central fund to help individuals impacted by the war in Ukraine. The brought forward deficit balance related to gift aid which had been applied to the grant payment in the previous year but which was received this year.
The Gift Day was an appeal launched and publicised by Emmanuel Church (Clarendon Trust) through a video which was shown to members of those churches who work together as a group within Newfrontiers. The purpose was to support church planting internationally. The deficit balance relates to gift aid which had been applied to the grant payment but which was not received until after the year end.
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