## Cornerstone Bath Report and Accounts Year ended 31 March 2025 1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk ## **CORNERSTONE BATH** ## **LEGAL AND ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 31 MARCH 2025** ADDRESS FOR CORRESPONDENCE 52 Broadmoor Lane Bath BA1 4LA CIO Foundation registered January 2019, amended GOVERNING DOCUMENT January 2022. CHARITY REGISTRATION NUMBER 1181571 TRUSTEES RESPONSIBLE FOR MANAGING THE CHARITY Malcolm Gamon Jonathan Nzakizwanayo Nigel Ring Katrina Wilding (appointed March 2024) BANKERS National Westminster Bank Plc. INDEPENDENT EXAMINER Sarah Crispin ACA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB ## **INDEX** Page 1 Legal and Administrative Details Pages 2-3 Trustees' Report Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Pages 7-8 Notes to the Accounts Page 1 ## **CORNERSTONE BATH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 MARCH 2025** Page 2 ## _External Mission_ We have continued to give to ministries outside our church, particularly in our ‘Jerusalem, Samaria and the ends of the earth’. Locally we support Genesis Trust who reach out to people who are in need, many without a permanent address. Our ‘Samaria’ is Bristol where we support the Beloved Trust, a ministry to help women exit prostitution. The ‘ends of the earth’ are currently Rwanda and Burundi. In Rwanda we sponsor 5 children through Compassion and in Burundi we support the poorest of the poor through Hope for Tomorrow Global, seeking to raise them out of poverty and to give them the dignity of being selfsupporting. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission. ## **Financial review** Throughout the year giving by members has steadily increased as they have seen the value of being committed to the life of the church and its mission. During the year overall income increased by £44,463, to £133,171, and expenditure increased by £15,876, to £98,797. As a result, the cash held by the charity increased by £34,374, to £101,268, of which £98,472 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 £98,472 and the charity is complying with its reserves policy. ## **Governance** Responsibility for setting policy and for making operating decisions rests 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 (per para 11.1 of the constitution). ## **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 Nigel Ring (Sep 26, 2025 12:14:17 GMT+1) __________________________ Nigel Ring Date: Sep 26, 2025 Page 3 ## **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 2025 on pages 5 to 8 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 2. 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. ## Sarah Crispin Sarah Crispin (Oct 13, 2025 13:46:35 GMT+1) Sarah Crispin ACA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB Date: Oct 13, 2025 Page 4 ## **CORNERSTONE BATH** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 31 MARCH 2025** ||||||||Unrestricted|Funds||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||General|Designated||Restricted|Total|Total| ||||||||Funds||Funds|Funds|2025|2024| |||||||Notes|£||£|£|£|£| |**_Income receipts_**||||||||||||| |Donations|||||||80,449||-|-|80,449|62,268| |Gift aid receipts|||||||14,959||-|-|14,959|10,043| |Other grants|||||||23,470||3,300|-|26,770|13,000| |Church Weekend|||||||-||-|7,078|7,078|2,339| |Interest|||||||3,880||-|-|3,880|1,057| |Other income|||||||36||-|-|36|-| |**_Total receipts_**|||||||122,793||3,300|7,078|133,171|88,708| |**_Payments_**||||||||||||| |Payments
in
relation
to
activities undertaken directly||||charitable||2|75,797||-|1,538|77,334|70,296| |Grants
paid
in
relation
to
activities undertaken by others||||charitable||3|875||9,030|2,744|12,649|12,625| ||||||||76,672||9,030|4,282|89,984|82,921| |Purchase of fixed assets|||||||8,813||-|-|8,813|-| ||||||||8,813||-|-|8,813|-| |||||||||||||| |**_Total payments_**|||||||85,485||9,030|4,282|98,797|82,921| |Net
of
receipts
transfers|/|(payments)|||before||37,308||(5,730)|2,796|34,374|5,788| |Transfers between funds||||||5|(12,994)|12,994||-|-|-| |**Net movement in**|**funds**||||||24,314||7,264|2,796|34,374|5,788| |Cash funds as at last||year|end||||66,894||-|-|66,894|61,107| |**Cash funds at this year end**||||||A|91,208||7,264|2,796|101,268|66,894| The notes on pages 7 - 8 form part of these accounts. Page 5 ## **CORNERSTONE BATH** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AS AT THE YEAR ENDED 31 MARCH 2025** |**A Cash funds**
Cash at bank with immediate access
Notice accounts [3 month]
Cash in hand
**B**
**Other monetary assets**
Gift aid due to charity
Prepayment
**C**
**Liabilities**
**Falling due within one year:**
Pension due
Fee for Independent Examination
**D**
**Assets retained for charity's own use**
Equipment and contents|General
Designated
funds
funds
£
£
2,023
7,264
89,161
-
24
-
**91,209**
**7,264**
19,112
-
887
-
**19,999**
**-**
356
-
1,080
-
**1,436**
**-**
Unrestricted Funds|Restricted
funds
£
2,796
-
-
**2,796**
-
-
**-**
-
-
**-**
Fund to
which asset
belongs|Total
2025
£
12,083
89,161
24
**101,268**
19,112
887
**19,999**
356
1,080
**1,436**
Value
2025
£
10,300
**10,300**|Total
2024
£| |---|---|---|---|---| |||||15,837
51,057
-| |||||**66,894**| |||||14,909
688| |||||**15,597**| |||||335
972| |||||**1,307**| |||||Value
2024
£| |||||8,383| |||||**8,383**| 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 **----- Start of picture text -----**
Nigel Ring
by ___________________________ Nigel Ring (Sep 26, 2025 12:14:17 GMT+1) date ____________ Sep 26, 2025
Nigel Ring
**----- End of picture text -----**
The notes on pages 7 - 8 form part of these accounts. Page 6 ## **CORNERSTONE BATH** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2025** ## **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
Note 4
Ministry costs
Equipment, software and communications
Venue hire
Office rent
Hospitality and visiting speakers
Insurance
Governance + Professional fees
Administration and support
**3**
**Grants and gifts paid to others**
Organisations:
Clarendon Trust
Beloved
Hope For Tomorrow Global
Compassion
Organisations < £1,000
Individuals||Unrestrict|Designated
funds
£
-
-
-
-
-
-
-
-
-
-
1,000
1,725
3,525
1,920
860
-
9,030
ed Funds|Restricted
Funds
£
-
1,538
-
-
-
-
-
-
-
1,538
-
-
-
-
2,744
2,744|Total
2025
£
38,460
10,315
9,537
10,720
2,655
5,383
887
918
8,035
86,909
1,000
1,725
3,525
1,920
860
4,395
13,425|Total
2024
£| |---|---|---|---|---|---|---| |||General
funds
£
38,460
8,777
9,537
10,720
2,655
5,383
887
918
8,035
85,372
1,651
1,651||||| |||||||43,719
10,053
1,550
5,777
-
3,539
750
816
4,092| |||||||70,296| |||||||7,228
1,100
1,850
-
1,430
1,016| |||||||12,625| ## **4 Transactions with related parties** Malcolm Gamon served as a church leader and was paid £38,460 [2023: £39,669] 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 7 ## **CORNERSTONE BATH** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2025** |**5**
**Movement of funds**
General funds
Designated funds
Genesis Trust
Compassion
Hope For Tomorrow Global
Beloved
Joel's Sphere
Restricted funds
Deposits for church weekend
Joel's Sphere
Total funds|Opening
balance
£
66,894
-
-
-
-
-
-
-
-
-
66,894|Receipts
£
122,793
-
-
-
-
3,300
3,300
3,575
3,503
7,078|Payments
£
(85,485)
(860)
(1,920)
(3,525)
(1,725)
(1,000)
(9,030)
(1,538)
(2,744)
(4,282)
(98,797)|Transfers
£
(12,994)
860
1,920
3,525
1,725
4,964
12,994
-
-
-|Closing
balance
£| |---|---|---|---|---|---| ||||||91,209
-
-
-
-
7,264| ||||||7,264| ||||||2,038
759| ||||||2,796| ||||||| |||133,171|||101,268| Joel's Sphere Funds: Apostolic oversight was provided to Cornerstone Church by an employee of Church of Christ the King, Brighton (Clarendon Trust). During 2024 the employee transferred his base elsewhere and Cornerstone Church has taken over handling some of the finances related to this ministry. Approximately 5% of non-restricted donations received are allocated to the designated fund each year. Page 8