CORNERSTONE CITY CHURCH Trustee Annual Report and Financial Statements 2023
CONTENTS INTRODUCTION. LEGALITIES....... MAIN ACTIVITIES TO FURTHER PUBLIC BENEFIT.. REVIEW OF PUBLIC BENEFIT OUTCOMES FOR 2023..................................... TRUSTEES RESPONSIBILITIES.................................................. 10 INDEPENDENT EXAMINERS REPORT........................... FINANCIAL STATEMENTS 2023... 12
INTRODUCTION This is the Trustee Annual Report for Cornerstone City Church as required by the Charity Commission Nl. This report relates lo the financial year From 131 January 2023 to 31 $1 December 2023. This document has been prepared based on guidance provided by the Charity Commission Nl. Signed on behalf of Trustees: . 21 $t February 2024 6LI 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 NICI 02984, and with Her Majesty's Revenue & Customs (HMRC) under the reference XR25207. The principal address of the church and of its office is... 40 Duke Street L'Derry BT47 6DQ TRUSTEE NAME SERVED DURING 2023 David Gamble Yes John Loughery Yes Carolyn Smith 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/Londondeiry area for all those who wish to participate 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 meelings. 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 first direct benefit which flows from this purpose includes the alleviation of debt related poverty 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 poverty 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 handed out to those in need. If is difficult to imagine a scenario 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 harm, however this harm is outweighed by the benefits through ensuring staff are fully trained to mitigate this po55ibility 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 service. This is a service that works to address the cause of poverty. and debt as a cause 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 through the provision of food, clothes, and other services. We also work in partnership with olher 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 since its launch and has continued lo grow in 2023.
3 The Advancement of Human Rights, Conflict 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 aclivities 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, but we can show that this harm is outweighed by the benefits through ensuring our staff and volunteers are appropriately trained and prepared. The only private benefit flowing from this purpose is training, 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 the Hope Centre we have been partnering with Probation Nl to provide a safe space for individuals to complete their community service hours. We also run an '1 Heart Derry, outreach week annually providing children's work and community development/relations activities in different areas of Derry/Londonderry to people ot 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 Poverty, debt service. the Hope Centre, Street Pastors service, or who engage with our other community activities.
REVIEW OF PUBLIC BENEFIT OUTCOMES FOR 2023
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 study 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 2023 we have seen an increase in those from BAME communities attending our Sunday services and engaging with the organisation. We have also seen an increase in those living in financial and food poverty attending our Sunday services and engaging with the organisation. IN-PERSON STATISTICS: Adult Members 130 Children (Under 181 of Adult Members Average Weekly Attendance Average Weekly Adult Attendance Average Weekly Children (Under 121 Attendance Midweek Groups Midweek Groups Attendance 70 160 120 40 10 75
2 The Prevention or Relief of Poverty
OUTCOME: Our 'Christians Against Poverty, (CAP) free debl 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 Ihrough our Food Bank & Clothing Bank. ACTIVITY: Our CAP manager meets each potential client up to three times to gather information regarding their current debt, income/expenditure levels to ascertain the best way forward for each client, which often includes crealing 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 also signposts people to other services available within the city. STATISTICS: CAP Clients 13 Of which were new CAP Clients Debt Free Hope Centre Clients {Est.) Hope Centre Food Parcels Deliveries (Est.) Hope Centre Christmas Hampers Hope Centre Christmas Toy Vouchers Money Spent on Food Parcels 300 {householdsl 1,000 (households) 150 (households) 35 Ihouseholdsl £20,000.00
3 The Advancement of Human Rights, Conflict Resolution. Reconciliation, and the
Promotion of Religious Harmony, Racial Harmony, Equality and Diversity. OUTCOME: Our '1 Heart Derry, outreach week engages and impact5 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 projects in a few local communities.
STATISTICS: l Heart Derry Volunteers Kids Week Attendance 60 110 Football Camp Attendance 50
statement of Trustees, responsibilities in respect of the Annual Report and the rinancial statements The charity trustees are 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 to prepare financial statements for each year which give a true and foir view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to: -select suitable accounting policies and then apply them consistently; -observe the methods and principles in the applicable Charities FRSI 02 SORP; -make judgments and estimates thal are reasonable and prudenl., -state whelher applicable Accounting Standards have been followed. subject lo 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 is inappropriate to presume that the charily will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities 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 2023, which are set out on pages 12 to 18 Respective responsibilities of charity 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 65{9llbl of the Charities 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 Charitv 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 account5 to be reached. Independent Examiners Statement As the charity's gross 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 matters11) 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: Z)4vid Z)0rf9&4 Name: David Joseph James Douglas FCA (Chartered Accountant) Address: I Caw Hill Park, Londonderry BT47 6LU Date: 21st February 2024 11
Cornerstone City Church Notes Year Endbng 31 December 2023 S GIFTS.DONATIONS,SPONSORSHIP Unrestricted Funds Restricted Fund5 Total 2023 Total 2022 Building Fund Hope Centre- Compassion CAP Youlhlchildren's Ministries CSM zoc HOTS Social Fundlolher Agencies l Heart Derry Dwelling Place Team OtheT Missions Support 1396 1396 19778 3648 226 2463 1200 45 174 26134 3762 700 1442 1200 19778 3648 226 2463 1200 45 396 14497 3859 16143 31095 31095 14841 14841 73.296 1,396 74,692 68,307 6 ADMIN EXPENSES Unr¢stri¢ted Funds Restricted Funds Total 2023 Total 2022 Vehicle Running Costs Repairs and Mainlenance,Cleaning Travel Costs Insur8nc8 inc Health Renl and Rates Light and Heal Office Costs Subscriptions inc CCI Telephone Costs A¢¢ountan¢y Fees Bank Charoes Bank Interest Meals 8nd C81ering,Special Events SunL4ry Expenses 3000 5708 685 3994 3000 5708 685 3994 3067 10638 3081 6174 363 18166 1486 6498 1133 1200 243 9548 4381 1649 f5407 1185 5093 1298 1020 426 15407 1185 5093 1298 1020 426 12447 3765 2870 12447 3765 2870 44.451 12.447 56,898 67,627 Total 17
Cornerstone Citychurch Notes Year Endin8 31 De¢ernber2023 Note Unre5trlrted Fund5 Restilcted Funds Total Funds 2023 Prlpr Year 2022 Flxed I3sets Duke Street- Purchase Duke Street- Improvements Duke Street- Revaluatlon MotorVehicle5 Equiprnent 352,737 508,526 2.500.000 2,50D,000 5,565 56.301 5,565 56,301 1.200 16,5CQ Total 61,866 2,$00.OOD 2,561.866 878,963 8 8ank & Cash 2023 2022 Bank Current a/c- Nol alc Bank Current 3/c- BuildinE Fund Cash 10,916 10,916 28.163 1,594 1,594 1,624 Total 10,916 L594 Il510 29.797 2023 2022 9 Creditorswlthln l year Trade Creditor5 PAYE/NIC Due Nest Pension Due Alburn Accrual Credit Card Other Accrua15 £0 £4.531 £0 £625 £1,950 £660 £0 £0 £0 £0 £0 £0 E796 £1,635 £348 £644 £3.334 £660 £4,531 £0 £625 £1.950 £660 Total £7,766 £0 £7,766 £7,417 10 CrÈdltors after I year 2023 2022 Bank Mortgage New Loan Interest Free Loan 99.155 99,155 136,766 21,584 23,000 23,000 Total 121155 122.155 158.350 11 Buildlnc Fund 2023 2022 Balance blf 704538 704,S38 650,262 Increè5e fDrYear D2trea5e for Year Rev21uations Tr3nsfer of Funds 47,148 -13,843 1.636.822 4.774 47.148 -13.843 1.636,822 4.774 12.379 -9,722 51.619 Balance df 2.379.439 2,379039 704,538 12 Llnrestrfrted Re5erwe5 2023 2022 Balance blf 38,445 38,445 33.413 Increase for Year Oecrea5e for Year Transfer of Fund$ Balahce clf 260,823 -229,478 4.774 65,016 260,823 -229,478 4,774 65,016 289.992 -233.341 -51.619 38.445 Totsl Reserves 65.016 2.379.439 2,444,455 74Z,983 18
Cornerstone CItyChur¢h Statement of Flnanclal Activitle5 Year Ending31 December 2013 Llnrestrlcted Funds Resttitted Funds Total Funds 2023 Prforyear 2022 Income Voluntary Income (mthes,Glfts,Speual Offerln6sl Other Income for Charitable Purposes Interest receivable 191.773 69,050 191.773 116,198 238.110 64,261 47,148 Total Income 260.821 47,148 7.971 302,371 Expendlture CostsofrGlslnofunds Expenditure on choriroble octivitle5 Staff Costs Gifts,Donatlons.Sponsorships Admin Expenses 111.731 73,296 44,451 111.731 74.692 56.898 L07.129 68,307 67,627 1.396 12,447 Total expendlture 229.478 11,843 243.321 243.063 Net expendlture and net movemont In funds for the year 11345 33.305 S9.308 Net Rainsllosses on Investmentslasset revaluatlons 1.636,822 1,636.822 Net movemenl funds 31.34S L670.12Y 1.701.472 59.308 Total Fund5 brou¥ht forward Transfers Inetl 38,445 -4.774 704,538 4,774 74Z,983 683,675 Total Funds tarried forward 65,016 2.179.439 2.444A55 742.98a The statement of financial attivitles Includes all 8alns and losses recognised in the year. 12
Cotnorstorte City Church Balat)ce Sheet Year Ending 310ecember 2023 Note Unrestrl¢tÈd Funds Restricted Funds Total Fund5 2023 PrSor Year 2022 Flxed trssets Property Equipment and Vehicles 2.500.000 2,500,000 61,866 861.263 17.7 61,866 Total Flxed Assets 61,866 2,500,000 2,561,866 878,963 Currentflssets Debtors and accrued income Cash at bank and In hand 10.916 1.594 12,510 29,787 TotolCurrentAssets 10,916 1.594 IZ.510 29.7B7 Llobllltles Creditor5 falling due within one year -7.766 -7,766 -7,417 Net Curyenta$sets 3,150 L594 4.744 22.370 Total a55et5 le55 current liabllltles 65,016 Z,50L594 2,566.610 901,333 Creditors falling due afterone year io -122,155 -122,155 -158,350 Net assets 65.016 2,379.439 l444,455 74l983 RestrittÈd Income funds Unrestricted income funds li 2.379.439 2.379.439 65,016 704.538 38.445 65,016 Totsl Funds carrred forward 65.016 2.379,439 2.444,455 742,983 13
Cornerstone Citychurch StatÈment of CHshflow$ Year Endin8 31 December 20Z3 Note Total Funds 20Z3 Prlor Year 2022 Net movement in funds 64,650 59,308 Addback Loans Advanced Deduct Loans Repaid Addback Depreciation DÈduct Fixed AssÈtAdditlons Decrease/lincrease in debtorsl Increaselldecrease in creditarsl 23,000 -59,195 -48.582 -46,081 -10,021 349 1.047 Netta5h used in optratinE aclivitie5 -81,927 -57,556 Ca5hAlowsfrorn investing LTCtivitie5 Interest and dividend5 Inve5trnents rnade Net tash piovlded by Investlng actlvltles Change In cash equlvalents In year -17,277 1,752 Cash and cash equivalents brought forwar(S 29.787 28,035 Cash and cash equiwalents carrled forward 12,510 29,787 14
Cornerstone City Church Notes Year Ending 31 December 2023 1 ACCOUNTING POLICIES statement of Compllance The financial statement5 have been prepared on a going concern basis. The Trustee5 do not believe that there are any factors or material uncertainties which would impact on the assessment of this. The flnancial statements have been prepared in accordance with the Financial Reporting Standard 102 and the Statement of Recommended Practice ISORP- FRS1021 "Accounting and Reporting by Charitles. published in July 2014, as required by the Ch3rities (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 recogni5ed at historical Cost or transaction value unless otherwise stated in the relevant accounting policy. A summary of the more important accounting policies, which have been applied consistently* are set out below. Incomlng resources Voluntary income Voluntary income is received by way of donations, gifts and legacies (including any assoclated gift aid reliefj and is included in full in the Statement of Financial Activities when received. Other Incoming Resources This income relates to amounts received a5 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 it relates Irather than when It is paid) and has been classified under headin8S that a8greg3te all costs related to the cate80ry. The costs in this category represent the running Costs of the Church Charitable artivities These are costs associated with the various ministries and actlvlties of the Church and its. contribution to Christian works within the UK and throughout the world. These costs are accounted for based on the timing of the decision to allocate funds rather than when the payment is made. Tanglble fixed assets Assets are stated at cost less accumulated depreciation plus any revaluations 15
Cornerstone City Church Notès Year Ending 31 December 2023 2 VOLUNTARY INCOME Unrestricted Funds Restricted Funds Total 2023 Total 2022 Tithes Other Gifts,Granls and Donations Gift Aid 131,769 24.334 35,670 191.773 131,769 24,334 35.670 191,773 119.328 87.355 31.427 238,110 3 CHARITABLE ACTIVITIES Unrestrlctèd Funds Restrlct8d Funds Total 2023 Total 2022 Bulldlng Fund Hope Centre- Comp85s1on CAP In¢omg CSM Income ZOC Income l Heart Derry Iln¢Missionsl Youlhlchildren's Ministry Income Women's Ministry Income Various Other Missions Income 47,148 47,148 30.728 2,304 2,002 900 30.fj85 12,379 30,705 2.050 2.464 900 11,255 945 1,153 2.410 30.728 2.304 2,002 900 30.685 2,426 2.426 Income for Charitable Purposès 69,OSO 47.148 116.198 64,261 4 Investmont Incomg TOTAL INCOME 260,823 47,148 307,971 302,371 16