o]0] CORNERSTONE CITY CHURCH Trustee Annual Report and Financial Statements 2022 CONTENTS INTRODUCTION............................................................................................. LEGALITIES........... MAIN ACTIVITIES TO FURTHER PUBLIC BENEFIT...................... REVIEW OF PUBLIC BENEFIT OUTCOMES FOR 2022.........-............................... TRUSTEES RESPONSIBILITIES....-.......................... INDEPENDENT EXAMINERS REPORT................................................................... FINANCIAL STATEMENTS 2022...........................-.-.....................-.............-........ INTRODUCTION This is the Trvsteg Annval Report for Cornerstone City Church a5 reqvired by ihe Charity Commission Nl. Thi5 report relales lo the financial yeor from I" January 2022 10 31. Decèmbor 2022. This document has been prepared bu50d on guidon¢e provided by ihe Charity Commission Nl. Signed on behalf of Trus￿•5. . 29. March 2023 David Gamble Chairperson John Loughery Trustee LEGALITIES The church is registered as a charity under the name Cornerstone City Church but is also on occasion referred to just as Cornerstone or Cornerstone Church. The church is registered with the Charity Commission under the number NIC102984, and with Her Majesty's Revenue & Customs (HMRC} under the reFerence XR25207. The principal address OF the church and of its office 15... 40 Duke Street L'Derry BT47 6DQ TRUSTEE NAME David Gamble John Lou Carol n Smith SERVED DURING 2022 Yes Yes Yes MAIN ACTIVITIES TO FURTHER PUBLIC BENEFIT #l The Advancement of Religion Our principle activity and purpose is to provide a Christian place of worship in the Derry/Londonderry area for all those who wish to participole on a temporary or longer- term basis. The direct benefits that flow from this purpose include open public access to Sunday services (including prayer, praise, worship, and Christian teaching), midweek prayer/bible study groups and pastoral services. Additional benefits include contribution to the mental, spiritual and emotional health and wellbeing of members and contribution to moral improvement in society. These benefits are demonstrated through numbers of formal members, and attendance at Sunday services and midweek prayer/bible study groups. The purposes of our charity may lead to harm if people feel pressured to join or stay in our church, but we can show that this potential harm is heavily outweighed by the benefits through the fact that people may choose freely to join, stay or leave membership at any time. The only private benefit Flowing from this purpose is payment of Pastoral Church Leaders or other stafF, and this is incidental, necessary and integral to the furtherance of the charity's purposes. Our church offices are open to all during normal working hours, and our church building is open to all for specific church services and meetings. We deliver Sunday services, midweek prayer/bible study groups• pastoral support, faith-based conferences, worship events, and outreach. #2 The Prevention or Relief OF Poverty The lirst direct benefit which flows from this purpose includes the alleviation OF debt related povety to all those in debt in the Foyle area who wish to use the service. These benefits are demonstrated through the provision of the Foyle 'Christians Against Poverty, (CAP) branch, the numbers of service users, and the number of budget management courses run. Another direct benefit that flows from this purpose includes the relief of povety by providing food and clothes through our newly established Hope Centre. These benefits are demonstrated through the users of the Hope Centre, and the number of Food parcels honded out to those in need. It is difficult to imogine a scenorio where there may be harm or detriment that outweighs the good work being carried out. If service users felt forced to join the church as a result of engaging with the Hope Centre or debt advice this could perhaps lead to horm, however this harm is outweighed by the benefits through ensuring staff are fully trained to mitigate this possibility happening. The only private benefit flowing from this purpose is the payment OF one Christians Against Poverty staff member and one Hope Centre staff member. This is incidental and necessary because the services require these two paid roles in order to function. We run the Foyle branch of 'Christians Against Poverty, in the Derry/Londonderry area to people in debt who refer themselves to our 5er¢ice. This is a service that works to addres5 the cause of povety, and debt as a cuuse of poverty. We provide practical money management courses, advice and debt counselling services, and occasional small emergency support e.g. food packages. In November 2019 we opened 'The Hope Centre, to meet the practical needs of people in Derry/Londonderry frhrough the provision OF food, clothes, and other services. We also work in partnership with other agencies within the city, who refer people in need of practical help to our Hope Centre. In response to the Corona-virus pandemic we converted our Foodbank into a 'Drive• Thru Foodbank, from April 2020. This saw a significant increase in the volume of people Using the services of the Foodbank in both 2020, 2021 and throughout 2022. #3 The Advancement of Human Rights, Conflicf Resolution, Reconciliation, and the Promotion of Religious Harmony, Racial Harmony, Equality and Diversity. The direct benefits that flow from this purpose include the promotion of reconciliation to the public in the Foyle area. These benefits are demonstrated through the numbers of reconciliation or cross-community octivities led by or engaged by church members through the church. The purposes of our charity may lead to harm if the staff or volunteers with inexperience in the field of reconciliation were not fully briefed, bul we can show that this harm is outweighed by the benefits through ensuring our staff and volunteer5 are appropriately trained and prepared. The only private benefit flowing from this purpose is trainingi skills and experience provided to staff and volunteers, and this is incidental and necessary because it is needed in order to deliver this benefit. We work alongside other churches in the interests or reconciliation and promotion of religious harmony. Through *he Hope Centre we have been partnering with Probation Nl to provide a safe spoce for individuals to complete their community service hour5. We olso run an '1 Heart Derry, outreoch week annually providing children's work and community development/relations activities in difFerent areas of Derry/Londonderry to people of diverse identities. We have regarded to all statutory guidance for the provision of these public benefits. The charities beneficiaries for the above purposes are primarily those residents in the Derry/Londonderry area who choose to engage in Christian worship through the church. Wider beneficiaries are the public who use our 'Christians Against Povety, debt service, the Hope Centre, Street Pastors service, or who engage with our other community activities. REVIEW OF PUBLIC BENEFIT OUTCOMES FOR 2022 #l The Advancement OF Religion OUTCOME: Throughout the year we effectively created open access for members of the public to attend Sunday services, which provide a space For people to worship God, pray together and grow in their faith. This is further enhanced by opportunities to join together for midweek prayer/ bible sludy groups. ACTIVITY: We held weekly Sunday services that were predominantly attended by members of Cornerstone, but some others from the local area also attended. We also held weekly midweek prayer/bible study groups throughout the year. IN-PERSON STATISTICS: Adult Members 130 Children (Under 18) of Adult Members Average Weekly Attendance Average Weekly Adult Attendance Average Weekly Children (Under 12) Attendance Midweek Groups Midweek Groups Attendance 70 160 120 40 75 #2 The Prevention or Relief of Poverty OUTCOME: Our 'Christians Against Poverty, (CAP) free debt service enabled people from the Derry/Londonderry area to begin the process OF becoming debt free as well as learning how to better budget their finances going forward. Our Hope Centre, which opened in November 2019, supported multiple people in need From Derry/Londonderry through our Food Bank & Clothing Bank. ACTIVITY: Our CAP manager meets each potenfrial client up to three limes to gather information regarding their current debt, income/expenditure levels to ascertain the best way forward for each client, which often includes creating a budget and repayment plan. We also, if required, provide extra support through trained volunteers. Our Hope Centre meets the practical needs of individuals within Derry/Londonderry by providing food and clothes, and 0150 signposts people to other services available within the city. STATISTICS: CAP Clients 10 New CAP Clients CAP Clients Debt Free Hope Centre Clients (Est.) Hope Cenlre Food Parcels Deliveries (Est.} Hope Centre Christmas Hampers Hope Centre Christmas Toy Vouchers Money Spent on Food Parcels 300 (households) 1,000 (households) 120 (households) 35 (households) £24,500 #3 The Advancement of Human Rights, Conflict Resolulion, Reconciliation. and the Promotion of Religious Harmony, Racial Harmonyi Equality and Diversity. OUTCOME.. Our Street Pastor Teams provide 50ft intervention promoting peace and reconciliation where there may be potential conflict. Our '1 Heart Derry, outreach week engages and impacts both children and adults From all sectors of the community bridging potential divides. ACTIVITY.. On the first week of July we host our annual l Heart Derry outreach week. As part of that week, we hosted a kids club, football camp and carried out clean-up project5 in a few local communities. STATISTICS: l Heart Derry Volunteers Kids Week Attendance 50 60 Football Camp AtFendance 35 Statement of Tru5tees' responsibilities in respect of the Annual Report and the financial statements The charity trustees ore responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland. The law applicable to charities in Northern Ireland requires the charity trustees fro prepare financial statements for eoch year which give a true and fair view of the state of afFairs of the charity and OF the incoming resources and application of resources, of the chority for that period. In preparing the linancial statements, the trustees are required to: -select suitable accounting policies and then apply fhem consistently,. -observe the methods and principles in the applicable Charities FRSI 02 SORP,. -make judgments and estimates that are reasonable and prudent. -state whether applicable Accounting Standards hove been Followed, subject to any material departures that must be disclosed and explained in the financial statements,. and -prepare the financial statements on the going concern basis unless it 15 inappropriale to presume that the charity will continue in business. The trustees are responsible For keeping proper accounting records that disclose wilh reasonoble accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Chorities Act (Northern Ireland) 2008 the applicable Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation. 10 Independent examiners report to the charity trustees of Cornerstone City Church I report on the accounts of the charity for the year ended 31 December 2022, which are set out on pages 12 to 18 Respective responsibilities of charlty trustees and examiner As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. It is my responsibility to: Examine the accounts under section 65 of the Charities Act Follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6519}(b} of the Charitie5 Act State whether particular matters have come to my attention Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65191{bl of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: l. That accounting records were not kept in accordance with section 63 of the Charities Act. 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent Examiners Statement As the charity's gr055 income did exceed £250,000, I can confirm that l am a registered member of the Institute of Chartered Accounts in Ireland and am qualified to undertake the examination. I have completed my examination and have no concerns in respect of the matters (l) to (41 listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Signed: rn, Name: David Joseph James Douglas FCA (Chartered Accountant) Address: I Caw Hill Park, Londonderry BT47 6LU Date: 3, April 2023 li Cornerstone Clty thuT¢h Statement ol Flnanclal Attlwtles Year Enrflng31 De￿mber 2022 Nole VAre￿￿￿ed Funds Restrleted Funds Total Funds 2022 PFlorYe3r 2021 IntomÈ Voluntary Income Ifithe5.G1ft5,Special Offering51 Other Income for Charitable Purposes Interest reeeivable 238110 51882 238110 64261 179632 76681 65 12379 Total Inctlme 289992 12379 302371 256178 £xpendittire Costs olruisingfunds Expendittsre on thuritoble Ottivlties Staff Costs Glfts,Donation4Sponsorshlps Admin Empenses 107129 68133 107129 68307 118335 $2853 174 58079 9548 67627 44721 Total expendltuie 233341 9722 243063 215909 14et expendlture and net movement In fundsforthe year Plet 8ainsllosses cn investments 56651 2657 59308 40469 NÈt rnovernent In funds 56651 2657 59308 Total Funds bFOU8ht foFward Transfers Inetl 33413 -51619 650262 51619 683675 643206 Ygtal Funds ¢arrfÈd forward 794538 742983 6B3675 The sraremerst of finanaal acrivitles Includes a118arns and losses reco8nised irk thp year. 12 Cornerstone Clty Church Balance Sheet Yea¥ Endlng 31 Derember 2022 Note Unrestrlrted Funds Restrl¢red Funds Total Fund$ 2022 PrlorYe3r 2021 Axedussets Property Equipment a#d Vehicle5 861263 861263 177 851242 17700 177CQ Total Flxed Assets 17700 861163 878963 868942 CurrentUSsets Debtors and accrued income Cash at bank and In hand 28163 1624 29787 28035 Totul CurrentAssets 28163 1624 29787 28035 Ilobllities Credltors falling dLte within one year -7417 -7417 -6370 Net Current assets 20746 1624 22370 21665 Total èssets less currentllabllllies 38446 862887 901333 890607 C￿dItorS falling due after one year io -158350 -158350 -206932 Net assets 38446 704537 742983 683675 Restricted Intome funds Unrestricted income ftjnds li 704538 704538 38445 650262 33413 38445 Totor Funds Carried forward 38445 704538 742983 683675 13 ComEf5tone Citychurth Statement of Cashflows Year Endlng 31 December1022 Note Totsl Fund5 2022 Prforyear 2021 Net movement In fisnds 59308 40469 Addba¢k Loans Advanced Deduct Loans Repaid Addback Depreciation Deduct Fixed AssetAdditions Decreasellincrease in debtors) Increase/ldecreèse in creditor51 400LKI -20596 4￿0 -120253 48582 -ICQ21 1047 548 Net ta$h used In operat5ngartlvitle5 -57556 .95801 Coshflowsfrom Invesringottivitles Interest and dividends Investrnents made -65 Netcash provlded by InVe￿Ing artivlties -65 Change In tash equivalents In year 1752 -55397 Cash and cash equivalents brought forward 28035 83432 Cash and ta$h equlvalents carrled forward 29787 28035 14 Cornerstone City Churth Notes Year Ending 31 December 2022 1 ACCOUNTING POLICIES Statement of Cornpliance The financial statements have been prepared on a going concern basis. The Trustees do not believe that there are any fartors or material uncertainties which would impact on the assessment of this. The financial statements have been prepared in accordance with the Financial Reporting Standard 102 and the Statement of Recommended Practice ISORP - FRS1021 "Accounting and Reporting by Charities" published in July 2014, as required by the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. These statements have been prepared on an accruals basis as required by the SORP. Assets and liabilities are initially recognised at historical cost or transartion value unless Otherwise stated in the relevant accounting policy. A summary of the more important accounting policies, which have been applied conslstently. are set out below. Incomlng resources Voluntary income Voluntary income is received by way of donationsi glfts and legacles lincludlng any associated gift aid relief) and 15 included in full in the Statement of Financial Activities when received. Other Incoming Resources This income relates to amounts received as a result of the charitable status. The income comprises grants and miscellaneous income. These are accounted for in the period to which they relate (rather than the period when they are received). Resources expended All expenditure is accounted for in the period to which St relates (rather than when it is paidl and has been classlfied under he3dings that aggregate all costs related to the category. The costs in this category represent the running costs of the Church Charltable artlvities These are costs associated with the various ministries and activities of the Church and its. contribution to Christian works within the LIK and throLFghout the world. These costs are accounted for based on the timing of the decision to allocate funds rather than when the payment Ss made. Tangible fixed assets Assets are stated at Cost less accumulated depreciation 15 Cornerstone City Church Notes Year Ending 31 December 2022 2 VOLUNTARY INCOME Unrestrl¢ted Fund$ Restriettd Fund$ Total 2022 Total 2021 rithes Other Gifts,Granls and Donations Gift Aid 119328 87355 31427 119328 87355 31427 105628 38450 35554 238110 238110 179632 3 CHARITABLE ACTIVITIES Unrestrictèd Funds Restricted Funds Totsl 2022 Total 2021 Building Fund Hope Centre- Compassion CAP Income Cshrf Income ZOC Income l Heart Oerry lincmissionsl Youlhlchildren's Ministry Income Women's Ministry Income Varioys Other Missions Income 12379 12379 30705 2050 2464 900 11255 945 1153 2410 36166 35212 1487 1145 400 30705 2050 2464 900 11255 945 1153 2410 2271 Incomè for Charitable Purposes 51882 12379 64261 76681 4 Investmènt Income 65 TOTAL INCOME 289992 12379 302371 256378 16 Cornerstone Clty Chur¢h Notes Year Ending 31 December 2022 5 GIFTS.DONATIONS,SPONSORSHIP Unr•$tri¢ted Funds Re$tricted Funds Total 2022 Total 2021 Building Fund Hope Centre- Compassion CAP Youthlchildren's Ministries CSM zoc HOTS Social Fundlother Agencies l Heart Derry Dwelling Place Team Other Missions Support 174 174 26134 3762 700 1442 1200 1203 30793 3937 1706 821 675 250 26134 3762 700 1442 1200 396 14497 3859 16143 396 14497 3859 16143 13468 68133 174 68307 52853 6 ADMIN EXPENSES Unrestrletèd Funds Restrlet8d Funds Total 2022 Total 2021 Vehicl8 Running Costs Repairs and Mainlenance,Cleanlng Travel Costs Insurance inc Health Rent and Rates Light and Heal Office Costs Subscriptions inc CCI Telephone Costs Accountancy Fees 8ank Charges Bank Interest Meals and Calering,Special Ev8nt8 Depreciation Sundry Expenses 3067 10638 3081 6174 363 18166 1486 6498 1133 1200 243 3067 10638 3081 6174 363 18166 1486 6498 1133 1200 243 9548 4381 1648 2762 359 3638 270 9360 4859 4765 1401 14S6 439 7033 1176 4500 1055 9548 4381 1649 1649 58079 67627 44721 Total 17 Corner$tDne Citychurth Notes Year Endlng 31 De¢¢mber2022 Note Unrestrirted Restrided Fund5 Funds Total Funds 2022 Prioryear 2021 Ftxed Assets DukÈ Street- Purchase Duke Street- Improvements Motor Vehicles Equipment 352737 508526 352737 508526 120D 16500 352737 498505 1200 16500 1200 1650D Total 177 861263 878963 868942 8ank & Cash 2022 2021 Bank Current a/t- Nol alc 8ank Current a/c- B￿lIdIng Fund Cash 28163 28163 22083 1624 1624 5952 Total 28163 1624 29787 2803S 2022 2021 9 Credltors wlthln l year TradÈ Creditors PAYEINIC DUÈ Nest Pension Due Album Accrual Credit Card Other Accrtjals 796 1635 796 1635 348 446 1142 319 644 3159 660 3334 660 3334 660 Total 7417 7417 6370 10 Credltors after I year 2022 2021 Bank Mortgage New Loan Interest FrÈÈ Loan 136766 21584 136766 21584 150669 39563 167 Total 158350 158350 206932 11 B¢Jlldin8 Fund 2022 2021 Balant¢ blf 650262 65026Z 555Z16 Increase fr>rYear Decrease for Year Transfer of Funds 12379 -9722 51619 12379 -9722 51619 42904 -8236 60378 Balance clf 704538 704538 65Q262 12 Unrestrfrted Reserves 2022 2021 Balance blf 33413 33413 87990 Increase foryear Decrease foryear Tr4n5fer of Funds Balance tlf 289992 -233341 -51619 289992 -233341 -51619 213474 -207673 -60378 33413 Totsl Rtser¥e5 38445 704538 742983 683675 18