REGISTERED COMPANY NUMBER: N1630224 (Northern Ireland)
REGISTERED CHARITY NUMBER: N100422
Report of the Trustees and
Unaudlted Financial Statements
for the Year Ended 31 March 2024
Cornerstone Church
S.M. Vinl & Company
Chartered Certified Accountants
8 Newry Road
Banbridge
Co. Down
BT32 3HN

Cornerstone Church
Contents of the Financial Statements
for the Year Ended 31 March 2024
Page
Report of the Trustees
Independent Examinerfs Report
statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10 to 15
Detailed Statement of Financial Activities
16 to 17

Cornerstone Church
Report of the Trustees
forthe Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006,
present their report wilh the financial statements of the charity for the year ended 31 March 2024.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102) (effective 1
January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its goveming docurnent. a Memorandum of Association and Articles of
Associalion, and constitules a limited company. limited by guarantee. as defined by the Companies
Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
N1630224 (Northern Ireland)
Registered Charity number
N100422 (Northern Ireland)
Registered office
Units 7-8 Rathfriland Enterprise Centre
Downpatrick Street
Rathfriland
Co. Down
BT34 5DQ
Trustees
A J Ervine
A J Murray
A D Murray
M C E Somerville
Independent Examiner
S.M. Vint & Company
Chartered Certifiod Accountants
8 Newry Road
Banbridge
Co. Down
BT32 3HN

Cornerstone Church
Report of the Trustees
for the Year Ended 31 March 2024
This report has been prepared in accordance with the special provision5 of Part 15 of the Companies
Act 2006 relating to small companies.
Purposes
The promotion and furtherance of the Christian religion through holding meetings for the
promulgation ofthe Gospel and promotion of physical, mental and spiritual welfare of persons within
Northern Ireland.
The relief of poverty. financial and social hardship as need may arise worldwide by providing goods.
services. medical care and other grants of money for providing or paying for infrastructure. items,
services, facilities and otherwise meeting need and deprivation.
Developing the capacity and skills of the members of socially and economically disadvantaged
communities in such a way that they are better able to identify and help meet their needs and to
participate more fully in society.
The relief of sick and disabled persons and promotion of their physical and spiritual welfare. The
ielief of mental and physical sickness of persons suffering as a result of bereavement. loss, family
breakdown, redundancy or financial hardship by the provision of counselling and support for such
persons.
Providing a cenlre open to all (without distinction of sex. sexual orientation or of ra￿. political.
religious or other opinions) in an effort to advan￿ education and to provide facilities in the interests
of social welfare for recreational leisure time occupation with the objective of improving conditions
of life for residents in the vicinity of the centre.
Helping young people through:
The provision of recreational and leisure time activittes, including residential weeks or
weekends, provided in the interest of social welfaie, designed to improve their conditions of
life.
Providing education. support and activities which develop their skills. capacities and
capabilities to enable them to participate in society as mature and responsible individuals.
Providing financial support to evangelists. missionaries and organisations promoting the Christian
religion.
Beneficiaries
The beneficiaries are members. their families, those connected with the Church, the local community
and the general public.
Publlc Benefit
The facilitation of regular public worship. training and biblelprayer gatherings, promoting the
physical, mental and spiritual wellbeing of society-
Relief of the needs of people suffering from social exclusion or other hardships bolh locally and
abroad. This includes financial support to partner agencies, locally and abroad, who work to alleviate
poverty and hardship.
Greater social inclusion for members of socially and economically disadvantaged communities and
social integration via provision of opportunities to socialise in public worship gatherings. community
meetings and opportunities to attend classes to develop skills necessary to funclion and participate
more fully in society.

Cornerstone Church
Report of the Trustees
for the Year Ended 31 March 2024
The provision of support on practical. physical and spiritual levels for those in our
communtty who are sick. disables or infirm and improved physical. emotional and spiritual
wellbeing.
Alleviation and relief of those within our membership and community, in response to such
issues as bereavement. loss. family breakdown. redundancy or financial hardship who
receive practical, physical. emotional and spiritual support from Cornerstone Church
including by pastoral care and counselling.
Provision of a centre which is open. available and accessible to all from society regardless
of sex. sexual orientation. ra￿. political or religious opinion or any other social background
which can be used to enhance education. leisure, recreational. social and community
integration opportunities for local ￿sIdents.
Provide support to local young people ￿lated to educational. social and recreational
development through provision of activities. training and advice both in group settings and
individual contact.
Promotion and advancement of the Christian faith Ihrough evangelists, missionaries and
organisations supported financially and otherwise by Cornerstone Church.
Private Benefit
A private benefit is to the financially supported membets of staff. However. this is both
incidental and necessary to ensure the objects of the charity are carried out to the required
standards.
Activities- Summary of Activities
Weekly Sunday services
Weekly Connect Group gatherings
Children's meetings
Monthly prayer evenings
Christians Against Poverty debt ￿ntre
Link 55 ministry
The Well foodbank
Cornerstone youth meetings
Supporting ministries abroad
Main Achlevements for the Year
Worship services held each week throughoLrt the year
Prayer ministry available each week
Weekly Link 55 ministry for over 55's
Food trolley in local supermarket
Monthly prayer meetings
Connect groups meeting each week
Monthly Crafty Coffee events
Supporting Redeemer Church. Dublin
Supporting Pastor Jacob, India
Easter programs- Eggsplorers
Easter Community Fun Day
Health and Wellness events held
Men and Ladies Bible study
Summer Church fun day
Year 8 '1t's your move, workshop

Cornerstone Church
Report of the Trustees
for the Year Ended 31 March 2024
Reflect- baby loss awareness
Light Party in October
The Greatest Gift- 2 day Christmas event
Christmas dinner
Christmas family service
Family quiz nights
Youth Outings - Escape Rooms and weekend in Annalong
In August 2023, we acquired a property in Rathfriland that currently requires significant repairs and
investment to meet the necessary standards. Our vision for this building is to create dedicated
spaces for our children and youth during Sunday worship, as well as to establish an office for daily
church activities.
Financial Review
The congregation's main source of income is member's contributions through weekly
donations. There were 44 contributors during the year (42 in previous year, 20231 donating
a total of £80.088 {£84.866 in previous year. 2023).
The total income ofthe Gongregation during the year was £131.153. compared to £113,323
in the previous year.
Total expencliture increased to £138.453 in 2024 from £97.802 in 2023.
Reserves Policy
The Irustees have considered the level of unrestricted reserves that it is appropriate to hold,
taking accounl of current and ongoing commitments. It is the policy of the trustees to hold
between three and six month's normal expenditure. Al the year end. unrestricted reserves
were £51,187, which represents a higher level of reserrfes. The trustees however. consider
it prudent to hold reserves at this level as the funding of its present activities is dependent
on the on-going financial support of tnetnbers and to allow for the purchase of a building
for the charity in the future.
Approved by order of the board of trustees on 11th October 2024 and signed on its behalf
A D Murray - Trustee

Independent Examinerfs Report to the Trustees of
Cornerstone Church
I report on the accounts of the company for the year ended 31 March 2024. which are set out on
pages seven to seventeen.
Respective responsibilities of charity trustees and examiner
As the charity's trustees (and also the directors for the purposes of cx)mpany law) you are responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject lo audit under company law and is eligible for
independent examination. it is my responsibility to..
examine the accounts under Section 65 of the Charilies Act
follow the procedures laid down in the general Directions given by the Charity Comrnission for
Northern Ireland under Section 65(9)(b) of the Charities Act
state whether particular matters have come to my attention.
Basis of the independent examinerfs 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 Northem Ireland under Section 65(9)(b) of the Charities Act. The examination
included a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It also included consideration of any unusual ilems or disclosures in
the accounts, and seeking explanations from you as charty trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to
believe=
That accounting records were not kept in accordance wtth Section 386 of the Companies Act
2006
That the accounts do not accord wilh those accounting records
That the accounts do not comply with the accounting requirements of Section 396 of the
Companies Act 2006 and with the methods and principles of the Charities Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland
That there is further information needed for a proper understsnding of the accounts to be
reached.

Independent Examinerfs Report lo the Trustees of
Cornerstone Church
Independent examinerfs statement
I have completed my examination and have no concerns tn respect of the matters (1) to (4) listed
above and. in connection with following the Directions of the Charity Commission for Northem
Ireland, I have found no matters that require diaviing to your attention.
Brian Magennis FCCA FCA
S.M. Vint & Company
Chartered Certified Accountants
8 Newry Road
Banbridge
Co. Down
BT32 3HN
Date:

Cornerstone Church
Statement of Financial Activities
for the Year Ended 31 March 2024
2024
Total
funds
2023
Total
funds
Unrestrided Restricted
fund
fund
Notes
INCOMEAND ENDOWMENTS FROM
Donations and legacies
95.912
34,048
129.960
101.534
Charitable activities
Other charitable activities
1.000
1.000
11,200
Investment income
95
98
193
589
Total
96,007
35.146
131.153
113,323
EXPENDITURE ON
Charitable activities
Other charitable activities
103.205
34,048
137,253
95,987
Other
1,200
1,200
1.815
Total
104,405
34.048
138,453
97.802
NET INCOMEI(EXPENDITURE)
(8.398)
1.098
{7,300)
15,521
RECONCILIATION OF FUNDS
Total funds brought fofward
Transfer between funds
59.585
30.635
90.220
74,699
TOTAL FUNDS CARRIED FORWARD
51.187

Cornerstone Church
Balance Sheet
31 March 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
fund
fund
Notes
FIXED ASSETS
Tangible assets
26.545
21,487
48,032
27,288
CURRENT ASSETS
Debtors
Cash at bank and in hand
27.009
10,246
37.255
96,616
27.009
10,246
37,255
96,616
CREDITORS
AmoLJnts falling due within one year
(2.367)
(2,367)
{3.684)
NET CURRENT ASs￿s
24,642
10.246
34.888
92.932
TOTAL ASSETS LESS CURRENT
LIABILITIES
51.187
10.246
82.920
120,220
ACCRUALS AND DEFERRED INCOME 11
(30,000)
NET ASSETS
51.187
31.733
82,920
90.220
FUNDS
Unrestricted funds
Restricted funds
12
51.187
31,733
59,585
30.635
TOTAL FUNDS
82,920
90,220
The charitable company is entitled to exevnption from audit under Section 477 of the Companies Act
2006 for the year ended 31 March 2024.
The members have not ￿qUired the company to obtain an audil of its financial statements for the
year ended 31 March 2024 in accordance with Section 476 of the Cotnpanies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386
and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the
charitable company as at the end of each financial year and of its surplus or deficit for each
financial year in accordance with the requirements of Sections 394 and 395 and which
otheJwise comply with the requirements of the Companies Act 2006 relating to financial
statements. so far as applicable to the charitable company.

Cornerstone Church
Balance Sheet - continued
31 March 2024
These financial stalements have been prepared in accordance with the provisions applicable to
charitable companies subject to the small companies regime.
The financial statemenls were approved by the Board of Trustees and aulhorised for issue on 11
October 2024 and were signed on its behalf by:
A J Murray - Trust
M C E Somerville - Trustee

Cornerstone Church
Notes to the Financial Statements
for the Year Ended 31 March 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit enlity under FRS
102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and
Reporting by Charities: Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective 1 January 2019),. Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the
Companies Act 2006. The financial statements have been prepared under the historical cost
convention.
Income
All income is recognized in the Statement of Financial Activities once the charity has
entitlement to the funds, it is probable that the income will be received and the amount can be
measured reliably.
Expenditure
Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits
will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all cost related to the category. Where cx)sts cannot be directly attributed to
particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order lo V￿lte off each asset over its
estimated useful life.
Taxation
The charity is exempt from corporation tax on tts charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion
of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for particular
restricted purposes.
Further explanation of the nature and purpose of each fund is included in Ihe notes to the
financial statements.
10

Cornerstone Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
INVESTMENT INCOME
2024
2023
Deposit account interest
Cash back on credit card purchases
98
95
494
95
193
589
NET INCOMEI(EXPENDITURE)
Net incomel(expenditure) is stated after chargingl(crediting):
2024
2023
Depreciation - owned assets
6.636
6,822
TRUSTEES, REMUNERATION AND BENEFITS
2024
2023
Trustees. salaries
33.957
31,442
Trustees. expenses
There were no trustees. expenses paid for the year ended 31 March 2024 nor for the year
ended 31 March 2023.
STAFF COSTS
The average monthly number of ernployees during the year was as follows:
2024
2023
Pastoral
No employees received emoluments in excess of £60.000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
fund
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Grants
101,534
95
11.200
101.534
589
11,200
494
Total
112.829
494
113.323
EXPENDITURE ON
Charitable activities
Other charitable activities
95.987
95.987

Cornerstone Church
Notes to the Flnancial Statement5 - continued
for the Year Ended 31 March 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted
fund
fund
Total
funds
Other
1,815
1.815
Total
97.802
97.802
NET INCOMEI{EXPENDITURE)
15,027
494
15.521
RECONCILIATION OF FUNDS
Total funds broLJght fornard
Transfer between furlds
24.267
20.291
50,432
{20,291)
74,699
TOTAL FUNDS CARRIED
FORWARD
59.585
30,635
90,220
TANGIBLE FIXED ASSETS
Property
Fixtures
and
fittings
Total
COST
As at 1 April 2023
Additions
43.436
43,436
As at 31 March 2024
DEPRECIATION
As at 1 April 2023
Charge for year
16.149
16.149
As at 31 March 2024
NET BOOK VALUE
As at 31 March 2024
As at 31 March 2023
12

Cornerstone Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other debtors
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank loans and overdrafts (see note 10)
Trade creditors
Social security and other taxes
Accrued expenses
551
1.470
501
513
1.200
616
1.200
2,367
3.684
10. LOANS
An analysis of the maturity of loans is given below:
2024
2023
Amounts falling due within one year on demand:
Credit card
551
1.470
11. ACCRUALS AND DEFERRED INCOME
2024
2023
Accruals and deferred income
30.000
12. MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.24
At 1.4.23
Unrestricted funds
General fund
59,585
(8.398)
51.187
Restricted funds
Building Fund
30.635
1.098
31.733
TOTAL FUNDS
90.220
7.300)
82,920
13

Cornerstone Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
12. MOVEMENT IN FUNDS - continued
Net movement in funds and transfers, included in the above are as follows:
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General fund
96.007
(104,405}
{8,398)
Restricted funds
Building Fund
35.146
(34,048)
1,098
TOTAL FUNDS
131,153
Comparatives for movement in funds
Net
movement
in funds
At
31.3.23
At 1.4.22
Unrestricted funds
General fund
24.267
35.318
59,585
Restricted funds
Building Fund
50.432
(19.797)
30.635
TOTAL FUNDS
74.699
15,521
90.220
Comparative net movement in funds. included in the above are as follows:
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General fund
112.829
(77.511)
35,318
Restricted funds
Building Fund
494
{20,291)
(19,797)
TOTAL FUNDS
113.323
97,802)
15,521
14

Cornerstone Church
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31.3.24
At 1.4.22
Unrestricted funds
General fund
24.267
26.920
51,187
Reslri¢ted funds
Building Fund
50.432
(18,699}
31,733
TOTAL FUNDS
74,699
8.221
82,920
A current year 12 fflonths and prioryear 12 months combined net movement in funds. included
in the above are as follows:
Incoming Resour￿$ Movement
resources
expended
in funds
Unrestricted funds
General fund
208.836
(181,916)
26.920
Restricted funds
Building Fund
35,640
{54.339) (18,699)
TOTAL FUNDS
244 476
236 255
8,221
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
15

Cornerstone Church
Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
2024
2023
INCOME AND ENDOWMENTS
Donations and legacies
Gifts
Donations
Gift aid
114.211
84,951
129.960
101,534
Investment income
Deposit account interest
193
589
Charitable activities
Grants
1,000
11,200
Total incoming resources
131,153
113,323
EXPENDITURE
Charitable activities
Trustees, salaries
Wages
Employer pension contributions
Training
Insurance
Telephone
Postage and stationery
Sundries
Rent
Light and heat
33,957
11.915
1,002
450
1,126
1,113
1,505
291
15.568
1,597
31,442
16,151
931
756
920
258
169
13,742
2,344
F Ij
Christians Against Poverty
Tfavelling expenses
Hospitality and events
Repairs and maintenance
Speaker fees
Computer costs
Donations
Resources
Advertising
CCLI
Depreciation
3,000
3,159
10.630
3,582
3,000
2,140
5,890
2,769
750
2,664
1,781
2,983
475
897
36,758
2.701
700
666
6,636
6,822
137,253
95.987
16

Cornerstone Church
Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
2024
2023
Support costs
Governance costs
Accountancy and legal fees
1,200
1,815
Total resources expended
138.453
Net incomel(expenditure)
7,300>
15,521
17