GOSPORT CORNERSTONE TRUST Annual Report and Financlal Statemenls fnr tlia year ended 31. December 2025 Cliai'lly Number.. 282517
GOSPORT CORNERSTONE TRUST TRUSTEES, REPORT FOR THEYEAR ENDED 31 DECEMBER 2025 BT Charily name.. R8gistered charity nun?ber.' Charilyprincip£l address.. Gosport Cornerstone Tru51 2B2517 Comerslone Books Beinisléis Lane Gosport Hampshire P012 1HB Santander UK PIC 128 High Street P012 1DT Compass Accountant Ltd Venture House Tho Tanneries East Street Tilchfield Fareham P014 4AR oirice held.. Chair Priniary BankeF In¢tspendenl E¥8min8fS N81118s of Ihe Iruslr$8s who ianage the cljarily.. Charlos R Alkin50n Lynn Pellersen Biian Cossins Typp of governing docuiiieiil.. Declaration ol Trust dated 14th April 1981. arnendgd 201h February 1996 Unincor orated charil Trustees ara appolnled by Ihe existing truslees Howlhe charil is conslilulEd.- Trustee sg18Ction Ineghods.. The trustees present their report and account% fer th8 year ended 3151 December 2025. The accounls hav? b8en prepared.in accordance with the accounlino policies s6t out in note 1 lo Ilie accounts gnd mply wilh thé charily's governing documenl, Applicable law and (ho requirements of th8 Slalem¢nt ol Rèt.omMended Pr3ClI applicab5e to charili6s preparinq their accounts in accordance with th& Financial Reporting Standard applicable in tha UK and R8public ol Ireland IFRS1021 and wilh Ilie Chaiilies Act 2011. structure, Governanco and ManagÈmènt The tIU81 w8s established by a declaration al trust dated 14 Apiil 1981. The trs('S object$ are to promole Ihg beller knowledg8 8nd understanding of the doclrines ol the Chiistian f8ilh Ihrough the sale ol literÈlure. Th8 long term future operalion Is entirely d&p8ndent on the aclive involvpmanl of the Irustaes, supported by a small group of wllling volunieers, especially Mrs Sylvia Atkinson, Mrs June Powèll aiid Mrs C8ro18 North. There has been a tufnover in the volunteers who lun the shop over the last yttar, and we currently have 17 volunleers, from 8 range ol churches in the town, plu5 4 youths from local hurehes who run the shop on Salurdays. The trust88s are gratelul for the commilm8nt of volunteers who giv8 their lime on a regular basls, and whose vision and p8rseveTance allow5 the shop lo ¢(Mtinue runnlng in good order. The Trustees have assessed the major iisk5 to which Ihe charlly is exposed and they ar8 sallsfiècl Ihal systems are In place lo mitigate exposurg lo major Tisks, wilh the eXpIlOn of the holdliig of reseTve5 which Is dealt with more Ivlly below in paragraph one ol Achiovernent5 and Performance. Oblec¢lves and Actlvltles The trust has l*aded since Its inception as Cornerstone Book8 and Cards, known locally as Corneistonè Books, and has achiev&d the gims ol the trust through the sale of 8ibl6s, Christian books 2nd other goods having a direct connedion with the propagation of ihe Christian faith.
GOSPORT CORNERSTONE TRUST TRusfEES' REPORT FOR THEYEAR ENDED 31ST DECEMBER 2025 Tradlng was up slightly on Ihe previous year although looffall remains reduced, and the age profile of our cuslorners is hoavily biased towards older cuslonier5. Qy()qPOrt town cenlr& is veiy lun down, wlh a18rge numb8r of empty rpt2il units. Th¢ council's decisi¢)n lo alEow I liour free parking in councll C8rp8rks does make th8 shop more accessible. Our trading pallern showed p¢aks in Iradlng at Easter and Christmas. Ou8 to Ihe low u>si ba of the shop. owning the properly and with volunleer st8H, along with muth reduced stock replenishm$nt, the finances have been held in a slable slate. Costs have continued 10 increase will) Ihe cost of Èleclricity and the need to subscribe lo a more advanced version of QuickBooks for bookkeepiog. W& nIinue to qualify for 80°h redur.lion in Business Rates from Gosporl BoTuugh Council. Cpdai'oak have paid tlieir lull rent 3gain th(5 yeai, dnd now have a consistent Contingent of trained and enthusiastic volunteers The trading patlern for y8ar 2025 was up on 2024. Quarter 1 showed a sllghl increase in takings, Quarters 2 and 3 were up. Tlie final qu3rt6rw8s improved, wilh better early sales dropping back only In the last 4 week5 beforg Chvistmas. meaning the year ended well. The underlying Irend shows a slighl upwaTd tick, which we hope will be continued into Ihe coming year. although il is clear that OUF trading is now well down on 5 years ago. Sales of bibles have been particularfy good. reflecling a naiional Irend in bible sal&5. Achlevements and PerformancÈ 11 has been Ihe polioy of the trust thal unreslrlct8d ftindy which liava not been d8signated lor a specific use should be maintsined ilt a level equivalent (o beiween three and six monlh's expenditure. The Iruste8s consider thal ieserves al this level will cnsuie Ihal in th& event ol a significdnl drop in trading Ihey will b& able lo continue the Irusl's current 8clivilies while consid8ralion Is given Io w8ys in which addilion81 funds may be raised. The trustees adjusled their policy of building up a reseroe fund 01 £20.000 over th9 next 3 years, lo £25.000 lo account for inflation, to be in a place to Cover the cost of any lulure r&pairs needed to the fE31 roof. A survey of the 8xisling flat roof shows to b8 in good overall condilion. The18v81 ol reservès in bank al 31 DecÉmber 2025 stood at £35,005. which Is inside the target band. This year saw one active book stall al Christchurch, run by Mrs Ann Wood which brought In additional Income. We hava a loyal core customer base wilhin the local ¢hurche5. but with the ongoing trend toward& Internet shopping, and the e.hang8 lo electroni¢ mcdia for botli books and music. there is clear préssuiè on the shop lo compel8 in (he cvrfent market place. Our fespon8e ha5 been to focus adv@rtising In the local Christian Community and to maintain offers from suppliers a5 Ihay become available. Mrs Lynn Pellor88n lias Increased the Shop profi18 through generating regular 500kal media posting5. The only cuslom8r Ilala held is personal contacl ¥nformalion provided by customers on placing orders. No computer data bases are held. Thi8 ye8r the Council applled the 80V) charSly r8t85 relief Ifom the start of Ihe financlal year. Flnanctal revlew There is a conlinued focus on Inanaglng ovcrheads effectively and reducing the levels ol new stock purchased. We conllnue to experien unit price intlalion on tx)oks, wilh new books oft&n having retail prices well in excess of similar previous publi¢alions. With the quantity o15tock h81d reducing. and ith a consid8rab16 withdrawal ol older stock, there has been a small d6¢rease In the value ol stock held al Ihe stock lake. The largel continues lo b8 ieduclng bolh Ihe volume of slock and the valuè of stock held with a viéw to inueasing cash rè88rves. Compliance for PCIDSS conlinues throujh our card handling comp8ny. Risk Assessment The trustees rewtew the n7ajor risks wl)ich the Gharity fa¢8s on a regular basls and believe thal mainlaii)Ing the freé rèseNes staled. combined with the annual rèview of the conlrols over key fin8nclal systems cairied out on an 8nnLsal basis piovlde suffi¢i6nt resources in the event of adverse ConditiS. The Truste8s have also examlned otligr operalional and business rSk8 Ihal they face and confirm that they have eglablished syslein$ to millgate the significanl risks.
GOSPORT CORNERSTONE TRUST TRUSTEES, REPORT FOR THEYEAR ENDED 31ST DECEMBER 2025 Public Béneflt Th8 ¢h8rity acknowl2dg8S Its requlremenl to demonstrate clearly that it n)ust have charitable purpose5 or'aims, that are lor the public benefit. Dètails of how the Charity has achleved charilable aims are provided 111 Ihe Trusl8@s report. The truslees confirm Ihal th8y have paid due regard to Ilie Charity Comtnisslon guidance on ptsbli¢ benefit before deciding whal aclivilles the chaiily should underlake. Stalemenl ol Truste85 Responslbllltl88 Th8 Charilles A¢t 2011 requlie ¢he Iruste8S to prepare linan¢ial staletnBnts for each financial year which give a Irue and fabr view of the slate of affairs ol Ihc trust 8nd ol the surplus of Ihe Irusl for that period. In preparing those financial sldlemÉnls th8 Irustees are reqLJired to.. Selfjcl suitable accounling policies and apply Ihern consislenlly Make jydgemenls and eslim8les that are re8sonable and prudent Prepare financial 8ta18men(s on the goino concern basis un18ss it is appropriate to presume that the trust will nol conlinue in exi$ience The l¥uslees ale sponSIble foT keeplng proper accounting records, which d>sclose wllh reasonable accuracy at Any linie the flnancial position of th8 Irusl. Thoy are respon5itJle for saf8guarding th8 assets ol the trSt and hÈnc& for taki reason8blo steps foT the prevention and dete¢llon of fiaud anij other irregulaiities. The annual repoTI was approved by the Trusleos of the charlty ai)d signed on ils bÈhall by.. Mr C R Atkinson Chair Date.. IK AI,,- '16
GOSPORT GORNERSTONE TRUST TRUSTEES. REPORT FOR THEYEAR ENDED 31ST DECEMBER 2025 Indèpendent Examiner's Report to the Truste8s of Gosport CoYnerston8 Trust I report on Ihe ac¢ounls of Ihe Charity tor the pertod ended 31* December 2025. which are set out on pages 5 10 9. Respe¢tlve responsibilltlÈs of trustees and examiner The charity's trustees are responsible lor the preparHllc¥n of the accounts. Th8 charily's Iruslees consider that An audit is not required for this year under section 144121 of the Chari118s Act 2011 Ilhe 2011 Aotl and that an indepeiideiil 8xarninalion is n8eded. It is my responsibilily to.. exarnine ¢he accounts under se¢lion 145 of lte 2011 Act., lo follow the procedures laid dgwn in tho General Directions given by th8 Charity Commissloi)ers und8r section 1451Sllbl of the 2011 Acl., and to 51ale whether paflicular mallers have come to my attention. Bas1$ of liidèpendent examin6r's report My examination was carried out in oc¢ordance with thè General Direelions gSvÈtt by the Charity Commission. An examination includes a rpview of Ihe accounting records kept by the charity arid a Comparison of the accounts presenled with those re¢ords. It also includos consirJerAlion of any unusual items or disc105uies in the 8ccounls, and seekino èxplanalior)s from you as truslae5 concerning 8ny such matters. The procedures undertaken Ilo nol provide all the evidence that would be required in gn audit. and consequently no opinion is given as to whethor the aecoynls present a 'lrue and lair %4ew' and the report is Ilmited lo Ihos8 matters set out in the 5tal$ment below. IndepÈndent examlnerf$ statement In conn8clion wllh my examlnatson, no matter has come lo my 8tl8ntlon'. Which glves mo ieason8ble eause lo bo11eve thal In any materlal respect the ¥equlrements to keep accounting records in accordance wilh section 130 of the 2011 Act-. artd lo prepare atcounls whlch accord with the accounting records 2nd compty with Ihe accounting requirements of th8 2011 Act have nol been mel., or 2. lo hich, in my opinion allenlion should b8 diawn In order io enable a proper understanding he accounts to be reached. Kerry Lawr8nce FCA Dale.. i)TH AeiiL lo2.6 Compass Accountanls l.imited Ventur8 House, The Tanneries E8$t street, T(tchfield. Hallls P014 4AR
GOSPORT CORNERSTONE TRUST STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING THE INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31sr DECEMBER 2025 Unrestrlctod Funds 2025 Total 51ilcteil FÈJnds 2024 Total Notes In¢onip Income Irom charitable aolivilies Donati$ and legaciès 28,447 28,447 26.677 680 26.677 680 Yotal IRcomo 28,447 28,447 27,357 Expendllure 25.802 25,802 29.073 29.073 Total expendlturtr 25,802 25.802 29,073 29.073 Net incomtslèxpeiidlluto 2.645 2.645 11.7161 TraThsfe15 b8tV166n fuiids Nèt movement In lutbd¥ 2,645 2,645 11,7161 ReGonciliatlon of fund&'. 11 Toial lunds brouglil forward 79.Yg9 79.999 81,715 81,715 Total funds carried forward 82.644 79,999 79.8Jg All recognised galns 8nd10s5es arB included in lh8 s61)1 of Finan¢lal A¢livilie& The not•$ oil pages 7 to 9 fo¥m an intagral part or tli860 flnanclal 8tat8mènl$
GOSPORT CORNERSTONE TRUST BALANCE SHEET. CHARITY REGISTRATION NUMBER 282517 ASAT 31ST DECEMBER 2025 2Q25 2024 Notbs FSxed AsspI¥ Tanglble Assets 17,053 17,053 CurreNI As8•t$ SioGks Debtors & PrÈpayMenls C8sh ai bank and h$ 33,400 170 35.005 68,575 80,159 180 34.fj94 65,033 Cred5tor$'. amounts falllng dufrwllhin one yèar 2.984 2,087 Net CuireDt Assefs 65.591 62,946 Nel A55818 82,644 7g,999 Fund8 Unrestlic Fun(Is 82.644 79,999 112.fj44 79.999 ¢harily law requlres the Iiust6¢$ to prepare th8 Tfiislees, Annual Reportand the finanual stalent$ in 8r£or(lanc8 vrilh rp.giilaliolls sèl out In Ilie Chariiies Act 2011. The Truslees liave 8k¢ted lo lak6 advanl3ge of Ihe provisions 11)al apply lo sm811 chaii1185 have prepared ¥ Receip and PaYmlIS A£Lount and Sial8tnEnl of Assai$ and Li8bilili88 shown m pages 4 and S. Th8 financial statements were 8ppriJved bylhe Board and signed on ils beh¥lf by.. C7 n£L_ Charles Rlchard Atklnsoll Cttalr Dale: 16 Apr26 Tho notes on palles 7 to 9 Form an Integral part of these financlal $181etnènt$
GO8PORT CORNERsfoNE TRusr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JISTOECEM8ER 2025 Pollclos GcerstOeTjyI1s oIStheeflni1roVr alIcbnr1lelityud01sI034 olFRS Ass&isafyJlSabi1ilsIhlamrCOgn18e #l I0ale0Strtrans1convèEu¢, slalpdinlhg princlobjeelryè50fUiÈcha[lty¥iedelladinthoTIee5 Rewt. Basl¥OYProp4ralloiiOFFlnanGlaYstOletS Th8fjnowal BialEmnIShts bBenpropaT¢din tl0a&VlI Acc4JuthiryAnd byr.hr1fiS £lÉtdfflentof Roc4Mnme Pf4¢1 c appllcabl&io choTrlie3prEPAiiryUI(4iaccfjun15 In p¢¢tydd%i'j1th IheFMncial R¢wrtkn9 Pllublolntth UK R1¢Of11ad IFRS 1021 IlromOdOb 2D1£1-ChÉfiUas SORP IFRS1021. InYi08tstCmEnlpfFlThandAtfIIreswhPrtIs rcrryiilsÉd, Incomei51étttsgAsablewhEiiUiedipriiy has becoMEeDb1 IOlli&iasourcos. 1hEts5ts8sH lllsgrobablBtheYvII iètÈlv&Uig Ihtymofi8ry¥IUBtsThbts WhereiiwmBliPyidalrdtoÈxwl1VIe(5vA1htdinOOI(IbcI7nr4wll01 VIr1[I7d gxpenthiixe 810r0eOrJsn0 SOFA. trn)efro IBxredBlm$tndon8tlorhs8109inyoraiMlutsd lThlhBSOFAduriMgihÉ poriDdSlh¢oll be6ndelvaied. Gittgin klnd aré #tnIed &&llfflat80l1I Vèlug thartlyoilheinL(wl¥luallyie811sBd. Gltts lfi lof&alÈ tsrdislrtbu1are 1h$0sEslls DDlywhpn S¢ ord1stil1e by1h&dAty. Gift& [orusebythelwaè$rddlnthe SOFAB5knm1iernreceW8bI. 1£d&&tsÉnd ledllfjesare 0Y1rudÈd amowllnrey(wreaÉ8%yndB Yjhe beThBfiltolh¢ rthÉfjiylslgasoThablyou?IflPb. matèriab.Tya1Uplacod0nlhts69 ie5ouf¢Ègi>thaèSllmaV8.VF lo SeNCfrDFIWiiwtSVd. TIVaU0rttsty hBiprocfAvedi% DtISDrludeduillaC(0Utststh &&cb65nllietrU9leeS,l rrt. IrNbslfflenllncom6 islncWèdiThUig llccouniswBn IKÈjvat4é.ThlsI1cds Ihaiairttsrltsssonth&sBleof Exp•ndltvipAnd LIAM1tS aththtyvtherelhp w51rFlptQ5dir¢cUytotrfftl Frhvity. Ch?rLtsblèÈNpondltuietoinw15e5 I¢05t$rlgdbYeth1yInIII111lVtrryQl5&fj11 Its¢sandso<(£sf0rllSbonprÈll1s. be Rlknr4dddirédlytosuchaCliYilkgJtcostsf&ll IlIè rt&luIeS38ry1D5UwOrt em. Liabllitses 3re khDielsé irfai¢r¢W%thKdvèobltiDnthIino tho charilylo p8yoUI r£s([c¢s. elheCfjty8lwl ¥ppon¢léwl ofsenryce Drov1p K)b PT(wld¢d.$udi0ranisareoDIyipoJD.ycdln theSOFAoncoth#iÈdplÉnlofihe gnE h43pTTrri¢d lhDSpoe SQ1r£1pUt.whPTo Iht Èianll5p[Ied VAlhtsUlcotIOnste3e ?reonly r¢twJr4s9dth?4WswOn )ryThikneThiila8ie1rE8dO$r0 lo 8gThntwhleh tèn1akninllrd ilthe Tèhyibl& Flxèd As8018and DÈp¢t¢l#tTon ThÈa8rgcaplt4lised iftsyonlus¢dS)rmWÈthèoon&ar. &trle1 kn43t£S00.Thgyar8vslued $lfy)91(Y. Ifgfted. plth4 valuow IhbCtFarilY1¢¢i9L Deprlalifffl pr0%idedltiAts>twc1aledtDMlPQf[thP¢OSll%SduYO1tsléÉthS&gler5e¥gB¥d $&f1 as kl0iorvoC1e -20% R¢dutAngb8t NdtIon5sthBFgedI148h1d pwirty IIBnd)nobLNid&1asth(tty1s1n&dt0suCthatsIèn0aIo Iswl iA tosL
GOSPORT CORNERSTONE TRUST NOTESTOTHE FINANCIALSTAT£MENTS FOR THE YEAR ENDED 31ST DECEMBER 2025 Income from charltoblp adl¥lll8s Unrestrictèd FL4nds 2025 Unrestricted Funds 2024 Olfiee Let INcome Shop Trading Income EJ8nk InrÈSt Olher Income 2,040 26,095 219 93 28,447 2,040 26,095 219 93 2,040 24.369 253 2,040 24.369 253 15 26,677 26.577 Donatlon5 and loga¢lps Unraslrloled Funds 2025 Unr8strlGled FuDd$ 2024 Oonetions 680 680 Charltable octlvlliès U#rÈ8trl¢l8d Funds 2026 Unrèstilcted Funds 2024 TTading Cosis (Purchases) AdvÈriising and Promolion C(Mneslibles Stsll Costs ank Ch3rgÈs CDmpultr 8nd Internel Charilable Donation5 Insur8nce Subsciipllons 12,691 12,691 13.829 13.829 193 4,e20 534 424 193 4,820 534 424 50 1,016 137 3,819 592 314 f55 3,295 925 209 1,786 728 300 3,022 151 338 530 900 43 29.073 137 3,819 592 314 155 1.016 925 209 1,786 720 300 3,022 151 338 530 900 43 29,073 227 1,531 729 119 1,070 157 227 1,531 729 119 1,070 157 Rent & Rates Offirè Expenses Repairs and M81Dlenan Transport PTofessioDal Fees IndepèndÈnl Ex8min8lk)n Accountancy Fees De1 xpenSeS 1.020 1.020 104 25,802 104 25.B02 Etnployeos Nmbfrr ol èmployees The average Ynonlhly number of ernplDyees durkng the year w8s12o24..N1. Employment 00st$ Unrestrictéd Fund8 2025 UnrestEIGtod Funds 2024 W8ges & salaiies 4,620 4.620 4.620 3,819 3.819 3,819 3.819 No etnploy&e earned mole Ihan £60,000. The followng amoJnts were paid lo Tru51ees £Nil12024.. £3,619) Bs remuneration for SeNic88 pmvided in Ihe operalional rnanagemeni ol Ihe ch3ri1l5 bookshop. Payment$ are made in accordan¢• with Ilie charity's governing do¢umenis and in complianGÈ wllh relevant chaiily law afjd regulgloryguklance. No olhei Iiv*lÈes recei¥ed any remuneralion or beiiefils duiiw Ihe ye81 ILY Iheir ioles as trustee8. No payments w8re made ID tru$lees or any p8isons connected wlh Ih&m during Ihe finanrial perk)d other Ihan small reimbursmenis for expenses on behalf ollhe charily.
GOSPORT CORNERSTONE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2026 Tanglblt flxed a559ts Land & Buildings Fixturos. Flttlng$ & Equlpment Tolal Cost Al 1st January 2025 AttrfilioDs Disposals Al 31st D6cember 2025 17,053 9,386 26,439 17,053 26,439 Depreciatio At 1st Janu2ry2025 On Disposa15 Charge forihÈ year Al 31s1 Decemb8r 2025 9,386 9,386 9,386 9.386 Not ¥Jook values Al 3151 December 2025 At 31sl December 2024 17.053 17,053 17.053 17,053 stock8 2025 2024 Stocks 33.400 33.400 30,159 Stocks hekl for sale as part ol noTrc8hrilablp Ira(Ée ere measured al ItE Ii)wer ol tost or nel realble valuo. Dèbtois.. amounts falllng due wllhln on9 year 2D25 2024 Tradè Debtors Olher Tgxes & Soclal Secuiity 170 180 180 170 Cash at bank and In hand 2025 2024 Currenl Account SavKLg8 Account Cash ig 12,969 21,769 267 12,789 21,550 375 34.694 10 Crodltors- amount5 falllng duè wllhln onp year 2025 2024 Trade Ciedilofs Acciuals and DsfÈrred ReveNe (XherTaxes & so1 Securily 616 1,682 686 2.984 561 1,080 446 2,087 11 Unrestrl¢tsd Fundg 1stJanuary 2D25 318t DEGetber 2025 Income Expènd1116 General reserve 28,447 28,447 25,802 25.802 82,644 82.644 79,999 1st January 31st DecBtnbFr 2024 2023 Iklcomo Exptrndbtur Gener81 resetve 81,715 81,715 27,357 27,357 29,073 29.073 79,999 79.999