Trustees Report for the year endlng 31 December 2023 Charlty Informatlon Charlty Name: Date Reglstered: Charity Numbèr: Regi5tei¢d Qffi¢¢: Comerstone Church Swindon 5 March 2020 1188356 18 Tortworth Road Swindon SN25 2 Stephen Mitchell (Chairman) Nigel Sluman Davld Kew Trustees: Structure, Governance and Management The church Is establlshed under a constitutlon adopted by the trustees on 17th February 2020 and Is establlshed as a Charitable Incorporated Organisation. Trustees are appolnted accordlng to the constltutlon by resolution of the exlstlng trustees, Trustee meetlngs are held regularly throughout the year and new tru5tee5 are given a copy of the latest accounts and annual report. All trustees can attend seminars for church trustees as required. All trustees have had regard to the guidance issued by the Charity Commission on public benefit. The church is affiliated with the FIEC (Fellowship of Independent Evangelical Churches) who have no operational authority. ObJectFves The objertive5 of the CIO are to advance the Christian faith for the publlc beneflt In accordance wtth the statement of belief5 in Swindon and in such other parts of the United Kingdom or the world as the charity trustees rnay from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connerted with the charity work ofthe charity. AdlvSlles, Achievements and Performance Cllff Reynolds has stepped down as a trustee of Cornerstone Church to take up the opportunity of helping to set up another church local to Swindon. Steve Mitchell has been appointed Chaimian of Cornerstone Church. The trustees consider that the performance of church ha5 been good this year. As well as meeting on Sundays to worship together, we meet throughout the week In Growth Groups, which allow people to learn more about and grow in their Christlan faith. Corner5toneChuTch5wlndoTr-TAR- 31° December2023 Pa8elo13 We continued to hold our Sunday services at William Morris Primary school and contlnued to Ilve stream our servlce. We have continued to see people from the community attend church services and events, which has been a great encouragement. It's been good to See the community engage with our Art Café mlnistry, but it has been difficult to achieve consistency with the lack of community facilities within the area. Our provision for primary school aged children. Carnerstone Kidz, continued to take place during the Sunday service. It has been exciting to see many children take part each week. and see their faith grow. Our Youth Growth Group has continued, which is an activity for secondary aged children to meet to Study the Bible and for a fun time together. About 10 young people meet each time, and it's been good to see how their faith has grown. Our pastoral care team have also been able to SUPPOrt several people through various physical and mental health issues as well as through bereavement. The team and volunteers have al$0 been able to help practically by shopping for people unable to do so themselves, and to assist with a variety of medlcal needs. The charity is extremely grateful for the support of member5 of the church and those who regularly attend who Serve on a volunteer basis. Flnanclal Report The trustees review the finances regularly as part of the effective Stewardship of the church. The totsl unrestricted assets for the charity as of December 2023 was £14609,00 Income was broadly in line with budgeted expectations, with £26413.iJJ from regular attenders, £4996.00 from anonymous donations and £6.000 from North Swindon Baptist Church. We are extremely grateful for all who give to the charity. Outgoings were generally as expected and in line with our budget. £37969.00 was spent on staff costs and £3610.00 given as missionary support. The Trustees are confldent that the charity wlll contlnue to achieve its objectives. ReseNes Pollcy The Trustee5 consider it to be expedient in the light of their risk assessment to hold reseNes equivalent of 3 month5 normal rurkning cost of the churth. This equates to £12300.00 for this year. This provides sufficient funds to cover the adminlstration, management, and SLlPPOrt costs in the event of a significant and sustained drop in income. Comerstonechtsrch SwindoTh-TAR- 31 Deremter 2023 Pa8e 20f 3 Declarations The trustees declare that they have approved the trustees, report above. Signed on behalf of the charitvs trustees: Signature{sl Full namel51 J{GÉL gLokL4-) Posltlon Date Cornerstone ChU￿h Swlndon-TAR. 31# DKernber 1023 Page3of3 Cornerston• Chureh Swindon Chaiity No 1188356 Annual accounts for the eriod CC17a Period stari date 0110112023 To Peri1￿ end date 3111212023 Section A Statement of financial activities Re8trictsd Unr•$trlctgd Income funds fundg Recomm•nd•d categories by aetlvlty Dotalls of own naty8 Endowment Totsl th1$ funds yèar Totsl 1o$t yèar Incomlng re￿UrceS (Note 3) F01 F02 F03 F04 F05 Incoming resourGe$ from generated fund$ V￿￿￿t￿ry Inwme Aclt¥N*s forgeneraiitYJfwO% S02 1rn¥9gbT*Dt $03 Incomlng r880urceA from ¢harhablo aGtlYlÈ Othar Incomlng r•s•yr¢os Totslincoming resour￿ sofj Resources expendod {Notes 4-8 Costs of Generating Funds ts of generglry vc4unMry S07 tr￿l￿g costs Invest￿lM￿n8g￿rntC05tr S09 haiit¥bl¢ aGtlviles S10 41,579 450 97 41.676 450 39.420 400 Govemancè cos S11 othor rosourc68 •xpond4d S12 12,892 12,892 7.562 Tot81 resources expendeol s13 N•tlneomlW(outgoing) resou￿9$ bgforn transhrs s14 97 97 1,271 Gross transfers between funds $15 Netlneomiftty{outgolngJ resou￿￿$ before 0th8rr8cognisèdg*inW(Ii)ssès) s16 Other r8cogni$od galnslllosso81 Galns and10sse3 on revaluation ol fixed assets forthe charity's own use Gain5 and Ios¥93 on investment assets 97 11,515 1,271 S17 S18 Net movement in funds s19 Total funds brought forward rotsl funds caffiedlorward s21 52Q 26,027 1.000 27.027 25,756 15,512 27.027 CC17a (Excell 0210712024 Section B Balance sheet Restricted Income fund$ Unrestri¢t•d funds End¢wm•nt Total th18 fund$ year Total last y•ar Fixed assets Tangible assets F01 F02 F03 F04 F05 1.173 (Not8 9) BOI Investments (Note 10) Total fixedassets 1,173 Current assets stock and worf( In progress Debtors {N4)te 111 (Short ternil Investhients Cash at bank and in hand Total ¢uff•nt assots 958 958 636 26,258 26,894 Credltors.. amounts falllng due within one year (Note 121 810 1,188 1,188 1,040 Net current assets/(Ilabllltles) 25.854 Total assets less currnnt liablllues 812 27,027 Creditors: amounts falling due after one year {Note 121 B13 Provlsions for liabllltlos and charyes B14 Net assets B15 27,027 Funds of the Charity Unrestrf¢t¢d funds 14,609 14,609 26,027 B17 Restricted Income funds (Note 13) Endowment funds (Not• 131 818 903 903 1,000 819 Total funds 820 27,027 Signed by one or ts¥o trust88s on behAlf of 811 the twste8S Date of roval Signatwe Print Name CC17a (EX￿1) 210712024 Section C Notes to the accounts Note 1 Basis of preparation Thls $g¢tion shoulal be compl•tedbyall eharftles. 1.18asis of accountlng Thesè accounts have been prepared on th¢ basis of historic cost lexcapl that invÉslments are shown al market value} in accordance with.. A￿Unting and Reporting by Charities- Statement of Recommended Pradice ISORP 20051: and WTth' Accounting Standards., Flnancial Reporting Standards for Smaller Enterprises IFRSSEI. or and with the Charitles Aet. . exce t for the followin Give details In thls box if a differèntstsndardh•s been followed. -Tith 88 appropriate.. if all relevant di%dosut•s shown in the pad( have bÈ8n givpn then please tic4t'Acrnunlin9 Standards.; dlscJDsures ¢ompleted in these accounts have been reslttGtsd to tho* required by the FRSSE. then please 'Finanual Reporting Standarfs for Smaller Enl8rpri$es IFRSSEI.. -11 no departurès from the chos8n slandards have been made de￿t* th?¥e words.. otherwise giv• detai15 of any changes in the boxes. 1.2 Change in basrs of accountlng There has been no change lo the accounting policies (valuation wles and methods of a￿ounting) sin¢e18s1 year (g except for the followingl_ Giv• detalls in thi$ box of any material Changes that have been mad•. g if no chang•s havè been made to acrA)unting policE5 then dek8ts these word$. 1.3 Change¥ to P￿VIouS accounls No changes have been made to accounts for previous years (g5 except for the following). Gwe detalls in this box of anymaterialchang•s that have been made. 55 if no ¢han9es hav& l*en rnade lo accounts for previou8 periods then del•t• these word5. CC17a (Excell 0210712024 Section C Notes to the accotjnts Icontl Noté 2 Accountlng policies 7his Standardli￿ ofaccountlngpolA¢ks h•$l)een opplied by the clwlty•xceptforthose deleted. Wh8re • drfferentor addttlon8lpollcyhas baen adoP1￿the￿ thi¥is deialledin the boxbelow. INCOMING RESOURCES R8cognltion of I￿•mIng résourc88 These induded in the SlateM8nt of Finan¢ial A¢ti¥rtie$ ISOFAI when.. the rharily becorr£s entitkd to the r6sourc8s'. the Irustees are vithalty c8rt8in Iwwill re¢ewg lh¢ resour￿,. and the menetsry value ean be mèasured with suffirygnt rell4bllRy. Where incèming re$ourc88 have raklgj 9xp9￿rtUr￿ la$ with fvndr8isin9 orconlrad income) tho incoming resource8 and reLqled expenditure a￿ report￿ gros5 in the SOFA. Cran1$ aThJ dot)aUon8 are On￿ inciuded in thè SoFAwh8n th8 charity has uncondmlonal entrtiemenl t¢ the resour￿$. Incomlrtg r8sour¢as wlth related expenditu Grant$ and donatlons Tax r•¢lalms on donatlons and gift5 Contractual In¢om• attd porfonnance related grants Incomin9 resource5 lax reclaim5 are induded in the SoFA81 th8 88mg time as the gfft to which they relate. Thi% l* onty ind￿1￿j In Ihe SQFA onro the mlawd gfjods or seNKe$ have ken delNered. Glfts In kind Gift8 in kind are accounted fgrat a reasonabk• •stimate of thorvalue to the tharfty or the amount aclualty realised. Grft$ In kind f¢1 sale ¢1 distribut￿n am includ8d in tha aco)unts as gifts onty when sokl or di$trlbthed bythe Charty. Grfts In klnd for use by the chaiity arE ￿c[L¥j￿ in the SgFA as ￿￿MIng resources when receivab￿. These are onty induded in incoming resources Iwilh an ￿￿￿alent amount in res¢urees expended) W￿re th8 b8nefrtto the ¢har"ty ts reasonab￿ quantifiabkg. Measurab￿ and malerial. The value placgJ cm these Trscurces Is the eslmated value to the (*odty of the servi¢e or fa￿litY received. The value of 8ny¥oluntary help rewved 18 not induded in th8 8¢¢frtiNs but Ls described in Ihe trustees, 8Mual repart. Donated seNlces and fac111￿98 vo￿nI08r help Investment Intom• Thi5 is includ8d In Ihe a￿ounts when wcelvat¢le. Inv8stm&nt galn$ and loss•s This in￿deS any gain or h)$8 on the sale of Inveslments and any gain or bss ￿SultIng from revaluing inve$lrrent$ t& market value at th• end of yaar. EXPENDITURE AND LIABILITIES Llability recognitlon Llabilitles are re¢¢gnk%ed as S￿n a5 th8r8 B a orCO￿trUc1•w8 oblyjatlon commltting the charity lo pay out resources. Ind￿je costs ofthe preparation 8nd examfjna1￿ft of statutory a¢¢ounts. the costs oftrustae meetings and cost of any legal advi¢¢ lo tru$lees on governance or Co￿t￿L￿O￿al malters. Vvhere the chariLy gives 8 grant with ¢ondrtbn$ for its payment being a 5wcrfK ￿ve1 of servke or outputto be provid8d. such grants aro onty re¢ognised in the SOFA once the recipient of the grant has provkled the sp8crfi8d servi￿ er Dtsty)ut. Governan￿ M$ts Grant8￿t￿ perfornian¢e conditions Grants payable wlthout F4rksrnian¢8 condiOon$ Support Costs These are onty rKognlsed In the accounls when a cornmitment has been made and there are no ¢on¢Yitlons lo be met relatin9 ta the granlwhich remain in the control of the charity. Support cosls indud& c8nlral fun¢tions and have been allocated to activity cost calwJories on a basis con51slenl with the u$? of Te80wrce$, eg albcatir¥J property COSt5 by floors￿a8. or per capila. staff costs by Ihg tlme $penl other ¢05ts by their us89e. ASSETS Tanglble flxed ass•ES for us• These are capitalised rfthey ran b8 used for mow thon one Y￿r. and eo$l al krya5t £500. They by charlty are valuad al ￿$1 or a rga$onable value on re¢eipl. Inw8tménts Inveslments quoted on a r¢wgntsgd $to¢k ex¢hange are valued at rnarketvalue at th8 year end. Olher inve51menl a55ets are induded al trustees, b98t esiimate of marf$als Transfers. Balan￿ ¢arried forbyard 4.347 4.347 9.2 Accumulated depreclatlon and Impalrmerrt provlslons -Ba$ls SLorRB SLorRB SLorRB SLorRB SLorRB Rats 3 years SL Balance brought fomiard DeprecAation charge for year Inwaiment provisions 3,174 3,174 1,173 1.173 Revaluations Disposals Transfers" Balan￿ carried forward 4.347 4.347 9.3 Net book valuè Brought fonmard Carriad fO￿an1 1.173 1.173 9A Rgvaluatlon Many fixedassets have been revaluedplease gfve detalls of the valuerandmethod of Yaluation The 7ran$fern"row is lormvements belween fixed asset categories. Ple8s9 indicata the mgthod of daprgCi8tion by dèléting th8 méthod not ap￿¢&ble (SL = sI￿Aght line,. R8 = reducing balanGeJ. Alsopl¢ase indicate the rat¢ of depre¢i?lion.' forstraightline, whatis the antvpated life of the asset fin y88￿),. forr8duong balance, what is the p8rcgnt8ge annual d8du¢lion. CC178 IExrAII 10 0210712024 Section C Notes to the accounts leontl Noto10 Inveslment a88ets Please complete thls nots If the charity has any Inve5tnRnt4755ets. 10.1 Flxgd a$$ets investmènt8 arrying (mathetl value at beginning of year Add: additions to investments al cost Lass: disposa15 al carrying value Addl(d￿￿t)- net gainl(loss) on revaluation Carrying (market) value at end of year Please provide below.. 10.2 A breakdown of the markèt values of investments shown akn• a￿eeIng with the balance sheet row BO3. 10.3 A breakdo¥m of the inccxne from Imiestments agreeing SOFA row SO3. Analysls of investments 10.2 Market value at yearend 10.3 Income from Inve$tm•nts for th• year Imiestmant propertles Imiostmonts Il$t9d on a r￿Qgnised stock •xchango or held In common Investment fund$, o￿n èndèd Investment c¢)mpan19s. u￿t trusts or other collectivg investment 8chgmis Imiè$tments in Subsldlary or eonnect8d undartaklng5 and companie Securities not li8ted on a re¢ognlsed Stock Exchang Cash held as part of the invostment portfollo Oth¢r investm&nts Total 10.4 Material inveslment holdlngs If any slnglg Investment Is matsrial in tomls of Its ￿lu9 (for exampl? r•pr858nts mor• than S per cent of tho value of the charitys total Investments) pl•asfr provldg d9ts11$. Invèstment hèld Market Val CC17a IEx¢•ll 02107r2024 Section C Notes to the accounts lcontl Note 11 Debtors and pr•payments Please cornplots this nots ifth• charfty has anyd8btors or mèrtts. Analy$i8 of debtors Amounts falling due wlthln one year Th18 year Last ytr¥r Amounts falling duè after more than onè y••r This yèar Last yèar Trade debtors Amounts duo from $ubsldlary and assoclated undgrtaklngs Other debtors 958 Pr8paym•nts and accrued Income Total Note 12 Crodltors and accrua Pleasé eomplete thls noto rf th• eharityha8 any credltors oraccruals 12.1 An•lysSs of cr•ditor8 Amounts falllng d within one year This year L¥st year Amounts falling due after more than one year This year Last year Loans and 0￿rdraft$ Trnde creditors Amounts due to subsldlary and assoclated undertaklngs Other ¢redltors Accruals and defen*d in¢crfne 738 690 450 Total 12.2 Securlty over assets If8nylo#n, ovwdraftorother credltorholds a charg• orotherse¢urfty over•ny usots of the chartty pleaseprovlde detalls. CC17a (Exeknll 12 0210712Q24 Sp¢t¥on C Notes to the accounts Icontl Note 13 Endowment and restrioted IncoTne funds Pl•as• complete thls sertlon Ifthe charityhas Jny •ndowm•ntorrestrlctedlncoFne fund* 13.1 Fund$ held P￿a89 givo a brief dos¢ription of any of the followlng type of fund$ Iwld by the ¢I￿rIty.. permanent endowment fund$ {PEI' expendable endowfflent funds IEEI- and restrlctsd Incom8 funds, Including special trusts, of the charity IRI. Fund Name Typo PE, EE orR Purpo$¢ and Restrictlong Benevolent Funds Youth Work Trour urc To b• uMJto¢ov•reo9ts oFth•runnlry4nd 4cUvlU•& aloury0￿ wort 112 Movements of maiorfvnds Plgase giv• detalls ofthe n70vements of the majorfunds summarlsed In th• rnstrlcted and endowment columns of the Statement of Financff8lA¢tivities. Fund balances brought fopmord Fund balances carried forward In¢oming resources Outgolng resources Gains and 10$$9s Tran8lers Fund names Ben¢vplenl Funds Y(Krth Work 97 403 Total Funds 197) 13.3 Tran8fer8 betwe8n funds Pleas• gi￿ dotails olany transfers beiween fvnd& From Fund INam•l To Fund INam•l Rea8on Amount CC17a l&xcel 13 0210712024 Setytion C Notes to the accounts Icontl Note 14 Transactions with related parties Ilthe Charity1￿ any ts3nsactions wlth rnlatedparties (other than the trustee expenses explalned In note 6) detalls of such transactions should be providedin thls rn*e. If there are no transactlons to repoit please enter"Non¢" in thg relevant boxes. 14.1 Remuneration and benof Pleaso give the amount of. and legal authorltyfor, any remuneratlon orother benefrts paid to a trustsg gr otherralotsdpartles by the ehaiity orany Institutlon orcompany connected wlth It Name of twstee or connocted party Legal authority leg order, governing documenti Amounts paid or benefit value This year Last year 14.2 Loans Please glve detalls oland an70unts owlng to or from the charity'5 trustoes orotherrelatedpartles by the charlty at the year end. Name of trustee or Connected paity Amount owing Thls year Last year Logal authoiity Due to truslees and related parties Due from trustees and relatgd partles 14.3 Other transactlonl$l Tmth trustees or related partles Please give detalls ofany transartion undertaken by (oron behalf ofj th8 charityin which a trustee or relatedparty has a materfal Interest. Name of the trustee or related party Relationship to chari Description of the Iransactlonlsl This year Last year CC17a (Excell 14 0210712024 Section C Notes to the accounts Iconti Note 15 Additional Dlsclosures The following are signlflcant mattern which are not covered In other notes and need to be Included to provide 8 proper understanding of the accounts. If there Is Insufficient room here, please add a separate sheeL CC17a (Excel} 15 02K1712024 Report to the tTUSteesl members of Cornerstone Church Swindon On accounts for the year ended 31 December 2023 Charity no lif any) 1188356 Set out on pages I report to the trustees on my examination of the accounts of the above charity I'the Trust") for the year ended 3111212023 Responsibilities and As the charity trustees, you are responsible for the preparation of the basis of report accounts in accordance with the Charities Act 2011 1"the Act"). I report in respect of my examination of the Trust'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 sedion 145{5)Ibl of the Act. Independent I have completed my examination. I confinn that no malerial matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any matersal respect,. the accounting records were not kept in accordance with section 130 of the Act,. or the accounts did not accord with the accounting records., or the accounls did not Gomply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accoursts give a Irue and fair, view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Plea e delete the wor in the brackets if they do not apply. Signed: Date: 1510712024 Name: Mrs Jennife D Frost Relevant professional qualification{sl or body lif any): ACA