Cornerstone Baptist Church
Financial health, per its FY2024 accounts
The accounts state that total income for the year was £349,530 against expenditure of £330,359, resulting in a net income surplus of £19,171. Unrestricted reserves increased to £215,501, which the trustees consider sufficient to finance charitable activities for 34 weeks, well above their policy target of six weeks. The trustees report no material uncertainty regarding the charity's ability to continue as a going concern.
What the accounts disclose
“The Managing Trustees consider that the minimum reserves necessary with no reliance on bank financing are 6 weeks of staff costs, that is £19,571” — page 9
“The custodian trustee of all the Church properties is the Yorkshire Baptist Association (YBA) (Charity number 247173). Both the Church and the YBA are members of the Baptist Union of Great Britain.” — page 20
“Donations made to the Baptist Union Home Mission Fund by the Church are shown in note 18, there were no outstanding balances at the year-end (2023: £Nil).” — page 20
“The custodian trustee of all the Church properties is the Yorkshire Baptist Association (YBA) (Charity number 247173). Both the Church and the YBA are members of the Baptist Union of Great Britain.” — page 20
“Donations made to the Baptist Union Home Mission Fund by the Church are shown in note 18, there were no outstanding balances at the year-end (2023: £Nil).” — page 20
“The custodian trustee of all the Church properties is the Yorkshire Baptist Association (YBA) (Charity number 247173). Both the Church and the YBA are members of the Baptist Union of Great Britain.” — page 20
“Donations made to the Baptist Union Home Mission Fund by the Church are shown in note 18, there were no outstanding balances at the year-end (2023: £Nil).” — page 20
Trustees
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £350k | £330k |
| 31/12/2023 | £329k | £324k |
| 31/12/2022 | £353k | £336k |
| 31/12/2021 | £324k | £338k |
| 31/12/2020 | £387k | £360k |
Common questions
Is Cornerstone Baptist Church financially healthy?
The accounts state that total income for the year was £349,530 against expenditure of £330,359, resulting in a net income surplus of £19,171. Unrestricted reserves increased to £215,501, which the trustees consider sufficient to finance charitable activities for 34 weeks, well above their policy target of six weeks. The trustees report no material uncertainty regarding the charity's ability to continue as a going concern. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| SIR JEREMIAH COLMAN GIFT TRUST | 1 | £10k |