Cornerstone Church - Charities report

REGISTERED COMPANY NUMBER: NI630224 (Northern Ireland)

REGISTERED CHARITY NUMBER: NI00422

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Cornerstone Church

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

to

6

Statement of Financial Activities

7

Balance Sheet

8

to

9

Notes to the Financial Statements

10

to

16

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2026. 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Purposes

The promotion and furtherance of the Christian faith through: Holding meetings for the promulgation of the 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 relief 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 centre open to all (without distinction of sex, sexual orientation or of race, political, religious or other opinions) in an effort to advance 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 activities, including residential weeks or weekends, provided in the interests of social welfare, 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 faith.

Beneficiaries

The beneficiaries are members, their families, those connected with the Church, the local community and the general public.

Public Benefit

The facilitation of regular public worship, training and bible/prayer gatherings, promoting the physical, mental and spiritual wellbeing of society.

Relief of the needs of people suffering from social exclusion or other hardships both 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 function and participate more fully in society.

The provision of support on practical, physical and spiritual levels for those in our community who are sick, disabled 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 with society regardless of sex, sexual orientation, race, 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 residents.

Provide support to local young people related to educational, social and recreational development through provision of activities, training and advice both in group settings and individual contact.

Christian faith being promoted and advanced through evangelists, missionaries and organisations supported financially and otherwise by Cornerstone Church.

Private Benefit

A private benefit is to the financially supported members 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 Centre

Link 55 ministry

The Well - Foodbank

Cornerstone Youth meetings

Supporting ministries abroad

Main Achievements for the Year

Worship services held each week throughout the year

Prayer ministry available each week

Weekly Link 55 ministry for over 55's with trips throughout the year

Weekly Tea and Tots

Connect groups meeting each week

Food trolley in local supermarket

Monthly prayer meetings

Monthly Crafty Coffee events

Supporting Redeemer Church, Dublin

Supporting Pastor Jacob, India

Easter programs - Eggsplorers

Community breakfast

Men and Ladies Bible Study

Special education needs workshop

Year 8 "It's your move" workshop

Light Party in October

24/7 Prayer

Newcomers lunch

Baby loss awareness event

The Greatest Gift Christmas event

Men's breakfast

Christmas kids party

Christmas men's breakfast with Ulster rugby player

Family quiz night

Football camp and BBQ event during July 2025

FINANCIAL REVIEW

Financial Review

The congregation's main source of income is members' contributions through the Weekly Donations. There were 47 contributors during the year (45 in previous year, 2025) donating a total of £92,177 (£83,376 in previous year, 2025)

Total Income of the congregation during the year was £114,662 compared to £102,494 in the previous year.

Total expenditure increased from £117,189 to £118,435.

Reserves Policy

The Trustees have considered the level of unrestricted reserves that it is appropriate to hold taking account of current and ongoing commitments. It is the policy of the Trustees to hold between three and six month's normal expenditure. At the year end unrestricted reserves were £39,604 which represents an appropriate level of reserves.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

NI630224 (Northern Ireland)

Registered Charity number

NI00422

Registered office

20 Main Street

Rathfriland

Co. Down

BT34 5PS

Trustees

A J Ervine

A J Murray

A D Murray (resigned 21.7.26)

M C E Somerville

J P Nixon (appointed 1.4.25) (resigned 21.6.26)

B W A Kelly (appointed 21.7.26)

Independent Examiner

S.M. Vint & Company

Chartered Certified Accountants

8 Newry Road

Banbridge

Co. Down

BT32 3HN

Approved by order of the board of trustees on 23 October 2026 and signed on its behalf by:

A D Murray - Trustee

I report on the accounts of the company for the year ended 31 March 2026, which are set out on pages seven to sixteen.

Respective responsibilities of charity trustees and examiner

As the charity's trustees (and also the directors for the purposes of company 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 to audit under company law and is eligible for independent examination, 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(9)(b) of the Charities Act

-	state whether particular matters have come to my attention.

Basis of the 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 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 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:

1.	That accounting records were not kept in accordance with Section 386 of the Companies Act 2006

2.	That the accounts do not accord with those accounting records

3.

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

4.	That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) 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.

Brian Magennis, FCCA FCA

S.M. Vint & Company

Chartered Certified Accountants

8 Newry Road

Banbridge

Co. Down

BT32 3HN

23 October 2026

2026

2025

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

112,354

1,308

113,662

100,400

Charitable activities

Grant

-

1,000

2,000

Investment income

2

-

94

Total

112,354

2,308

114,662

102,494

EXPENDITURE ON

Charitable activities

Other charitable activities

114,142

2,973

117,115

115,749

Other

1,320

-

1,320

1,440

Total

115,462

2,973

118,435

117,189

NET INCOME/(EXPENDITURE)

(3,108

)

(665

)

(3,773

)

(14,695

)

RECONCILIATION OF FUNDS

Total funds brought forward

42,712

25,514

68,226

82,921

TOTAL FUNDS CARRIED FORWARD

39,604

24,849

64,453

68,226

2026

2025

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

7

17,268

23,223

40,491

43,908

CURRENT ASSETS

Debtors

8

-

595

Cash at bank and in hand

25,557

1,625

27,182

26,211

25,557

1,625

27,182

26,806

CREDITORS

Amounts falling due within one year

9

(3,221

)

1

(3,220

)

(2,488

)

NET CURRENT ASSETS

22,336

1,626

23,962

24,318

TOTAL ASSETS LESS CURRENT
LIABILITIES

39,604

24,849

64,453

68,226

NET ASSETS

39,604

24,849

64,453

68,226

FUNDS

11

Unrestricted funds

39,604

42,712

Restricted funds

24,849

25,514

TOTAL FUNDS

64,453

68,226

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies 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 otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 October 2026 and were signed on its behalf by:

A J Murray - Trustee

M C E Somerville - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity 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 recognised 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 recognised 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 costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

The charity is exempt from corporation tax on its 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 the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	INVESTMENT INCOME

2026

2025

£

Cash back on credit card

-

94

3.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2026

2025

£

Depreciation - owned assets

4,665

5,518

4.	TRUSTEES' REMUNERATION AND BENEFITS

2026

2025

£

Trustees' salaries

38,151

35,655

Trustees' pensions paid

940

-

39,091

35,655

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

5.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2026

2025

Pastoral

2

No employees received emoluments in excess of £60,000.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

99,150

1,250

100,400

Charitable activities

Grant

2,000

-

2,000

Investment income

94

-

94

Total

101,244

1,250

102,494

EXPENDITURE ON

Charitable activities

Other charitable activities

108,280

7,469

115,749

Other

1,440

-

1,440

Total

109,720

7,469

117,189

NET INCOME/(EXPENDITURE)

(8,476

)

(6,219

)

(14,695

)

RECONCILIATION OF FUNDS

Total funds brought forward

51,188

31,733

82,921

TOTAL FUNDS CARRIED
FORWARD

42,712

25,514

68,226

7.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

COST

At 1 April 2025

21,834

50,377

72,211

Additions

-

1,248

At 31 March 2026

21,834

51,625

73,459

DEPRECIATION

At 1 April 2025

-

28,303

Charge for year

-

4,665

At 31 March 2026

-

32,968

NET BOOK VALUE

At 31 March 2026

21,834

18,657

40,491

At 31 March 2025

21,834

22,074

43,908

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Other debtors

-

595

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts (see note 10)

1,240

570

Trade creditors

(1

)

-

Social security and other taxes

661

598

Accrued expenses

1,320

3,220

2,488

10.

LOANS

An analysis of the maturity of loans is given below:

2026

2025

£

Amounts falling due within one year on demand:

Bank overdrafts

1,240

570

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.25

in funds

31.3.26

£

Unrestricted funds

General fund

42,712

(3,108

)

39,604

Restricted funds

Building Fund

25,514

(665

)

24,849

TOTAL FUNDS

68,226

(3,773

)

64,453

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

112,354

(115,462

)

(3,108

)

Restricted funds

Building Fund

-

(665

)

(665

)

Restricted Funds

2,308

(2,308

)

-

2,308

(2,973

)

(665

)

TOTAL FUNDS

114,662

(118,435

)

(3,773

)

Comparatives for movement in funds

Net

movement

At

At 1.4.24

in funds

31.3.25

£

Unrestricted fund

51,188

(8,476

)

42,712

Restricted funds

Building Fund

31,733

(6,219

)

25,514

TOTAL FUNDS

82,921

(14,695

)

68,226

Comparative net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted fund

101,244

(109,720

)

(8,476

)

Restricted funds

Building Fund

1,250

(7,469

)

(6,219

)

TOTAL FUNDS

102,494

(117,189

)

(14,695

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.24

in funds

31.3.26

£

Unrestricted fund

51,188

(11,584

)

39,604

Restricted funds

Building Fund

31,733

(6,884

)

24,849

TOTAL FUNDS

82,921

(18,468

)

64,453

Net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted fund

213,598

(225,182

)

(11,584

)

Restricted funds

Building Fund

1,250

(8,134

)

(6,884

)

Restricted Funds

2,308

(2,308

)

-

3,558

(10,442

)

(6,884

)

TOTAL FUNDS

217,156

(235,624

)

(18,468

)

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2026.