# **CORNERSTONE COMMUNITY CHURCH STIRLING LTD (FORMERLY THE EPAPHRODITUS TRUST)**
## **REPORT AND UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
**SCOTTISH CHARITY NUMBER: SC043872 COMPANY REGISTRATION NUMBER: SC433547**
## **Henderson Black & Co**
CHARTERED ACCOUNTANTS, CUPAR
## **CORNERSTONE COMMUNITY CHURCH STIRLING LTD (Limited by Guarantee)**
## **Report and Financial Statements**
## _**for the year ended 31 August 2025**_
|**Scottish Charity Number – SC043872**||
|---|---|
|**Contents**|**Page**|
|Trustees’ Annual Report|1 – 3|
|Independent Examiner’s Report to the Trustees|4|
|Statement of Financial Activities|5|
|(Including Income and Expenditure Account)||
|Balance Sheet|6|
|Statement of Cash Flows|7|
|Notes forming part of the Financial Statements|8 - 11|
**CORNERSTONE COMMUNITY CHURCH STIRLING LTD (Limited by Guarantee)**
## **Trustees’ Annual Report**
## _**for the year ended 31 August 2025**_
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 August 2025.
The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) 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.
## **Charitable purposes**
The Trust was formed to advance the Christian faith by encouraging, providing support to and promoting
- a. Christian ministries
- b. The teaching of the Bible and Christian evangelism
- c. Training and education in, and the development of the Christian faith
## **Achievements and performance**
During this financial year, the staff team has consisted of the Minister, Ministries Trainee, Operations Manager, Ministry Associate (Pastoral Care and Women's Discipleship), and Ministries Apprentice,
There are approximately 400 people regularly attending services, of which roughly 2/3 are adults and 1/3 are children. Safeguarding remains a key priority across the age groups. We continue to hold Sunday morning services at Wallace High School, which provides excellent facilities for our all-age worship time as well as several rooms for the children’s and youth work during the service. Up to 40 students attend Cornerstone during term time and demand had prompted us to run regular Exploring Christianity courses for those who are new to church. Prior to Christmas we also rented the Church of the Holy Rude in Stirling for a traditional evening Carol Service.
In respect of income, we began the year requiring to raise approximately £25,000 to fully fund the year's budget and avoid having to dip into reserves. Through the year that gap was fully closed, and regular giving has again increased in this financial year. The trustees consider that the church is in good health financially.
The lease on the church offices at Castle Road was extended in January 2025 for an additional 3 years, and the building has been improved with several new windows, a shared investment with the landlord. It is regularly used by the staff team during the week, but in addition is also used to host youth groups on Sunday mornings and evenings, and for Sunday evening services. Regular use also continues for our toddler group, student lunches, prayer meetings and other small group gatherings. One group that we partner with is Young Life International, who also use the building weekly.
As a growing congregation, we recognise the importance of growing the leadership team, and appointed 3 new elders in September 2025. We are also beginning to consider options to facilitate further growth as we are approaching the capacity of our current meeting space on Sunday mornings, and we are exploring working with Reach Ministries UK to help us think through what this might mean for us in the short, medium, and longer term, and will continue this into the next financial year.
## **Financial position and review of the year**
In the year ended 31 August 2025 there was net income of £12,422 (2024 - £3,934). Expenditure on charitable activities amounted to £294,475 (2024 - £236,247).
## **Risk management**
The Trustees are satisfied that systems are in place to mitigate exposure to the major risks.
1
**CORNERSTONE COMMUNITY CHURCH STIRLING LTD (Limited by Guarantee)**
## **Trustees’ Annual Report**
## _**for the year ended 31 August 2025**_
## **Reserves policy**
During 2025 the trustees reviewed the charity’s requirements for reserves in light of the main risks to the organisation and concluded that 6 months running costs was an appropriate level. Total reserves at 31 August 2025 were £197,782 (2024 - £185,360) which is adequate to cover this expenditure.
The trustees have agreed to hold £55,863 (2024 - £52,177) in designated funds to cover ongoing activities and salary costs as noted in note 9 of the accounts. After this allocation unrestricted reserves are £141,919 (2024 - £133,183).
## **Structure, Governance and Management**
The Epaphroditus Trust (‘the Trust’) was established as a company limited by guarantee registered in Scotland, has no share capital and is governed by its Articles of Association. The liability of each member, in the event of a winding up, is limited to £1.
It was incorporated on 27 September 2012 and granted charitable status on 19 March 2013. The name was changed to Cornerstone Community Church Stirling Ltd on 22 March 2022.
|**Reference and Administrative**|**Information**|
|---|---|
|Charity registration number:|SC043872|
|Company registration number:|
SC433547|
|Operational address &|Cornerstone Community Church Offices, Castle Road, Stirling,|
|Registered Office:|FK9 5JB|
|Independent Examiner:|Joanne Paul CA, Henderson Black & Co, Edenbank House,|
||22 Crossgate, Cupar, Fife, KY15 5HW|
|Solicitors:|Morton Fraser, Edinburgh|
|Bankers:|Bank of Scotland|
## **Directors and Trustees**
The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The trustees serving during the year and since the year end, with details of their specific roles, were as follows:
|Peter Coffee|Elder (appointed 4 September 2025)|
|---|---|
|Scott Easton|Elder|
|Rev Philip Hair|Elder (Acting Chairman)|
|Calum Jack|Minister|
|Donald Macaulay|Elder (appointed 4 September 2025)|
|Richard Patterson|Elder|
|Alastair Ross|Elder (appointed 4 September 2025)|
|Dr David Watson|Elder (resigned 4 September 2025)|
The trustees are responsible for the overall administration of the day to day operations of the charity along with the Treasurer and Church Operations Manager.
## **Key personnel**
Stuart Anderson Treasurer Lynne Easton Church Operations Manager
2
**CORNERSTONE COMMUNITY CHURCH STIRLING LTD**
## **(Limited by Guarantee)**
## **Trustees’ Annual Report**
## _**for the year ended 31 August 2025**_
Various criteria are weighed prior to a decision being taken to appoint trustees –
- Strength of personal commendation made by one or more existing trustees
- Appraisal of natural skills and abilities developed through personal experience with an estimate of ‘added value’ which the prospective new trustee could bring to the charity
- Compatibility with existing trustees
- Willingness to subscribe to the charity’s Basis of Faith as set out in the Articles of Association
During the foregoing process the trustees are required to reach a unanimous decision permitting the Chairman to meet with the perspective new trustee. This permits a person to person assessment to be made and allows the new candidate the opportunity to obtain a better understanding of the charity’s work and ministry. If in the Chairman’s view the outcome of that meeting is satisfactory he will issue an invitation to the new candidate for assumption as a trustee.
## **Trustees’ responsibilities in relation to the financial statements**
The trustees (who are the directors of the company for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its income and expenditure for that period.
In preparing those financial statements the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures 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 charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Small company exemptions**
The trustees have prepared this report in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Approved by the trustees and signed on their behalf by:
**Richard Patterson Trustee**
**Date:** 08/05/2026
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**CORNERSTONE COMMUNITY CHURCH STIRLING LTD (Limited by Guarantee)**
## **Independent Examiner’s Report to the Trustees of Cornerstone Community Church Stirling Ltd (Limited by Guarantee)**
I report on the accounts of the charity for the year ended 31 August 2025 which are set out on pages 5 to 11.
## **Respective Responsibilities of the Trustees and Examiner**
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees for my work or for this report.
## **Basis of Independent Examiner’s Statement**
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s Statement**
In the course of my examination no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the requirements: • to keep accounting records in accordance with Section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Joanne Paul CA Henderson Black & Co Chartered Accountants**
**Edenbank House 22 Crossgate Cupar Fife, KY15 5HW**
**Date:** 12/05/2026
4
**CORNERSTONE COMMUNITY CHURCH STIRLING LTD**
## **(LIMITED BY GUARANTEE)**
## **Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 August 2025**
|**Notes**
**Income from:**
Donations
Events
Interest
**Total Income**
**Expenditure on:**
Charitable activities
**4**
**Total Expenditure**
**Net income and net movement in funds**
**Reconciliation of Funds:**
Total funds brought forward
**Total funds carried forward**|**Total**
**Funds**
**2025**
**£**
288,052
14,938
3,907
306,897
294,475
294,475
12,422
185,360
197,782|**Total**
**Funds**
**2024**
**£**
230,220
8,088
1,873|
|---|---|---|
|||240,181|
|||236,247|
|||236,247|
|||3,934
181,426|
|||185,360|
The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 11 form an integral part of these accounts.
5
**CORNERSTONE COMMUNITY CHURCH STIRLING LTD**
## **(LIMITED BY GUARANTEE)**
## **Balance Sheet as at 31 August 2025**
|**Notes**
**Fixed assets**
Tangible assets
**7**
**Total fixed assets**
**Current assets**
Debtors
Cash at Bank and in Hand
**Liabilities**
**Creditors: amounts falling due within one year**
Creditors and accruals
**8**
**Net current assets**
**Total net assets**
**The funds of the charity:**
Unrestricted Funds:
General Fund
Designated Funds
**9**
**Total charity funds**||**Total**
**Funds**
**2025**
**£**
3,993
3,993
8,448
193,801|**Total**
**Funds**
**2024**
**£**
4,024|
|---|---|---|---|
||||4,024|
||||13,733
176,305|
|||202,249
(8,460)
193,789
197,782
141,919
55,863
197,782|190,038
(8,702)|
||||181,336|
||||185,360|
||||133,183
52,177|
||||185,360|
For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
Trustees' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime.
Approved by the trustees and signed on their behalf by:-
Richard Patterson (Trustee)
Date: 08/05/2026
Company Registration Number: SC433547
The notes on pages 8 to 11 form an integral part of these accounts.
6
## **CORNERSTONE COMMUNITY CHURCH STIRLING LTD (LIMITED BY GUARANTEE)**
## **Statement of Cash Flows for the year ended 31 August 2025**
|**Total**
**Funds**
**Notes**
**2025**
£
**Cash flows from operating activities:**
**Net cash provided by operating activities**
17,327
**Cash flows from investing activities:**
Investment income
3,907
Purchase of tangible fixed assets
**7**
(3,738)
**Net cash provided by/(used in) investing activities**
169
Change in cash and cash equivalents in the year
17,496
Cash and cash equivalents brought forward
176,305
**Cash and cash equivalents carried forward**
193,801
**Analysis of changes in net debt**
Cash at 1 September
176,305
Cash flows in year
17,496
Cash at 31 August
193,801
**Reconciliation of net movement in funds to net cash flow from operating activities**
Net movement in funds
12,422
Add back depreciation charge
**7**
3,769
Deduct interest and investment income
( 3,907)
Decrease in debtors
5,285
(Decrease)/increase in creditors
(242)
**Net cash provided by operating activities**
17,327|**Total**
**Funds**
**2024**
£
9,307|
|---|---|
||1,873
(4,494)|
||( 2,621)
6,686
169,619|
||176,305|
||169,619
6,686|
||176,305|
||3,934
2,791
( 1,873)
732
3,723|
||9,307|
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**CORNERSTONE COMMUNITY CHURCH STIRLING LTD (LIMITED BY GUARANTEE)**
## **Notes to the Financial Statements for the year ended 31 August 2025**
## **1 Accounting policies**
## **Charity information**
Cornerstone Community Church Stirling Ltd is a private company limited by guarantee, incorporated in Scotland, governed by it's articles of associaton. It is a registered charity with the Office of the Scottish Charity Regulator. The registered office is Cornerstone Community Church Offices, Castle Road, Stirling, FK9 5JB.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **1.1 Basis of Preparing the Financial Statements**
The financial statements have been prepared in accordance with 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 from 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005, the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
These financial statements are presented in pounds sterling, the functional currency of the charity. Monetary amounts are rounded to the nearest pound.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **1.2 Funds**
Funds are classified as either restricted or unrestricted funds. Restricted funds may only be used for specific purposes, as specified by the donor or when raised for a specific use within the objects of the charity. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If unrestricted funds are earmarked, at the discretion of the trustees, for a particular purpose they are designated in a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees' discretion to apply the fund.
## **1.3 Tangible fixed assets**
Tangible fixed assets, are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. Depreciation is charged on equipment at 33% per annum on a straight line basis.
## **1.4 Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
## **1.5 Expenditure**
Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **1.6 Financial instruments**
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Basic financial assets (which include cash and bank balances) and basic financial liabilities (which include creditors) are initially measured at the amount receivable or payable including any transaction costs and are subsequently carried at amortised cost using the effective interest method. Basic financial assets/liabilities, classified as receivable/payable within one year, are not amortised.
8
## **CORNERSTONE COMMUNITY CHURCH STIRLING LTD (LIMITED BY GUARANTEE)**
## **Notes to the Financial Statements for the year ended 31 August 2025 (continued)**
## **1.7 Judgements in applying accounting policies and key sources of estimation**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. In preparing these financial statements, the trustees have made the following judgements:
## Accruals
Trustees estimate the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future.
## **2**
## **Taxation**
The charity is not registered for VAT and all costs are shown gross. The charity is exempt from tax on income and gains to the extent that these are applied for its charitable objects.
## **3 Control**
The charity is controlled by its members. Each member will contribute a maximum of £1 to the charity for payment of any debts in the event of its winding up.
## **4 Charitable activities**
|Salaries
Employer's NIC
Pension costs
Grant to individual Apprentice
Grants to institutions (2025 - 10 : 2024 - 11)
Grants to individuals (2025 - 5 : 2024 - 2)
Venue hire
Office costs
Repairs
Catering
Insurance
Council tax - minister
Website
Advertising
Copyright
Books
Ongoing costs
Children and youth
Audio Visual
Staff training
Discretionary hardship payments
Student training course
Events
Payroll fees
Independent Examiner's fee
Depreciation|**2025**
**£**
124,455
5,402
16,797
7,200
24,330
1,345
25,386
23,158
6,182
1,153
1,123
3,961
1,884
3,724
1,108
1,839
9,105
2,999
878
1,522
552
9,880
15,323
260
1,140
3,769
294,475|**2024**
£
104,190
4,639
13,684
-
30,585
1,500
23,771
22,149
1,281
1,818
1,069
1,585
1,668
-
811
2,309
7,420
2,924
590
2,082
-
4,200
4,161
360
660
2,791|
|---|---|---|
|||236,247|
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## **CORNERSTONE COMMUNITY CHURCH STIRLING LTD**
## **(LIMITED BY GUARANTEE)**
## **Notes to the Financial Statements for the year ended 31 August 2025 (continued)**
|**5**
**Employees**
Salaries and wages
Pension contributions
Social security
Total|**2025**
**£**
124,455
16,797
5,402
146,654|**2024**
**£**
104,190
13,684
4,639|
|---|---|---|
|||122,513|
The average number of employees during the year was 4 (2024 - 3).
1 employee had employee benefits in excess of £60,000 (2024 - 1) in the band of £60,000 to £69,999.
The key management personnel of the charity comprise the Trustees, the Minister, the Treasurer and the Church Operations Manager. The combined cost of the key management personnel was £99,960 (2024 - £99,017).
## **6 Trustee Remuneration and Related Party Transactions**
Calum Jack, a trustee received a salary of £52,438 (2024 - £53,002) in his employment as Minister, with pension contributions of £7,536 (2024 - £7,117) and employers national insurance of £2,572 (2024 - £2,717).
Expenses of £8,766 (2024 - £4,107) were reimbursed to trustee Calum Jack during the year which included council tax of £3,961 (2024 - £1,585) in regards to his position as minister. Expenses of £500 (2024 - £29) were reimbursed to trustee, Philip Hair during the year.
Donations of £29,255 (2024 - £31,526) were made by trustees during the year.
## **7 Tangible fixed assets**
## **Equipment 2025**
|**Cost:**
At 1 September 2024
Additions
At 31 August 2025
**Depreciation:**
At 1 September 2024
Charge in year
At 31 August 2025
**Net book values:**
At 31 August 2025|**£**
21,165
3,738|
|---|---|
||24,903|
||17,141
3,769|
||20,910|
||3,993|
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**CORNERSTONE COMMUNITY CHURCH STIRLING LTD**
**(LIMITED BY GUARANTEE)**
## **Notes to the Financial Statements for the year ended 31 August 2025 (continued)**
## **7 Tangible fixed assets (continued)**
|**Equipment 2024**
**Cost:**
At 1 September 2023
Additions
At 31 August 2024
**Depreciation:**
At 1 September 2023
Charge in year
At 31 August 2024
**Net book values:**
At 31 August 2024
**8**
**Creditors and accruals**
Creditors
Accruals
**9**
**Unrestricted funds**
**Designated funds**
Ministry staffing
Giving
Inividuals and families in financial need
SU camps
Football pitch hire|**2025**
**£**
1,722
6,738
8,460
50,000
4,000
1,000
863
-
55,863|**£**
16,671
4,494|
|---|---|---|
|||21,165|
|||14,350
2,791|
|||17,141|
|||4,024|
|||**2024**
**£**
3,454
5,248|
|||8,702|
|||50,000
-
500
443
1,234|
|||52,177|
## **10 Commitments**
The charity is committed to make rent payments totalling £42,292 (2024 - £6,250) over the next 29 months.
11