THE CORNELIUS TRUST
ACCOitNrs
31- MARCH 2023
CONTETrrrs
Page
Tn￿ AdministratiOD
RepOrtfrOmtheTn￿...................................
Statement of Tn￿teeS Responsibilities........................
Independent Examinern Rep)rt...........
Statemenl of Financial Activities....... .....
Balance Sheet
Notes to Financial Ststements........................... . . .
l(k14

Page 2
THE CORNELIUS TRUST
ADDRESS
4 Curlew Drive
Chippenham
Wiltshire
SN14 6YQ
PATRONS
The Rt Hon the Lord MacKay of Clasbfern KT
The Lord AIton of Liver￿0]
Major General A N Carlier CB OBE
The Very Reverend Dr J. Harkness CB OBE QHC MA
Wing Commander D R Gleed RAF Rtd
TRUSTEES
Lt Col JPJ Judge (Chairman)
Mr R P Sheldon late RE (S•)
Mr R J Campbell (Treasurcr)
Lcpl P Steen (Grant Secr¢tary)
Lt Col V J Roberts RE
Lt Col W Fa￿￿
Sqn Ldr J Palmer MBE RAF
Revd MF Chatfield RN
Revd (Wg Cdr) AR Nicoll RAF
The Revd M Dietr CF
Lcpl J Lee
SOLICITORS
Neale TU￿ Rochfort
12 Kings Ride
Camberley
GU15 43G
CHARITY REGISTRATION
NUMBER
1002371
GOVERNtNG tNSTRUMENf TnL8t deed datrd 14 November 1990

AIM AND PURPOSE
The Trust seeks to SUPPOrt seNin8 and ex-sepAng members of the Amied For￿5 and MOD CNil Servants, as
well as their dependants, in developing and strengthening their Christian faith through attendance at
camps, conferences, courses and at Christian leisure centres. We particularly seek to support and
encourage those engaged in evangelism within the Militsry and tllose who wlsh to consider the claims of
the Christian Gospel. We also provide wider benefft by asSiStln8 Christians from the Armed Forces of other
countries.
OBJEcfivES AND ACTivYfiES
In accordance with our alm the trust provldes financial grnnts to:
Support members of the Amed For￿5 and MOD CNII Serrfke community to attend events organlsed
by the varlous Milr(ary Christian Organisatlons {MCOsl or other Christlan events for res¢ recuperation,
fellovtship and teaching.
Support MCOS In their prnwsion of conferences. courses or actfvltles.
Support other activltles almed at propagat1￿ the Chrtstlan 805pel wlthin the Arnied Forces.
Blds from Junbor sep11￿ personnel are particularly encouraged.
CONSTITUTION AND TRUSTEES
The constltutlon was revlewed in January 2022. There have been no slgnificant changes deemed necessary
as the extant constitution contlnues to allow sufficient freedom of artion to satlsfy the oblectNes of the
Trust. We have said farewell to one trustee who came to the end of thelr tenu￿ during this period. Thls
sees the number of trustees at 11 in totsl. We remain fortunate to have several generously lon8-seDiill8
trustees and offlce bearers who contlnue to gfve deepty Val￿ sery1￿, althou8h we are now 5eeklnB to
attlvely manage the succession of our lon8ert servlng and experlenced trustees. A5 a trust servin8 a
predominantly 'young' constltuency we are alway5 consclous of the need to encourage and bring in new
trustees, particularty those Junior Rates and Ranks from the three SeThlces, whom we most routinely alm to
support.
COMPUANCI ACHIEVEMENTS AND PERFORMANCE
Investm•nts
The financlal year 2022123 saw an Income from our underlyln8 investments of £47.8K which are
professionalty managed on our behalf by Brewin Oolphin. The Trust also owns property in Shropshire as
part of the Investment portfolio which generates an income of just over £18K annually. The income, from
which 8rants are made. has been ￿asonablY stabielsee accounts for details) and, as a result, in thi5
financial year. we have been able to satisfy in some measure nearly all bids which have met our criteria.
As noted above, we rent out property in Badgervillage and Sqn Ldr Jonny Palmer continues to oversee the
management of these on our behalf via a letting agenci Bloore & fing. The properties con51St of a pair of
semi-detached cottages currently split into four fiats. one of which was. up until recently, rented out to
lon8-Standing tenants at Si8nifKantty reduced rent in accordan￿ wlth the wishes of the benefactor who
donated the property to trust in the early I9￿5. Thi5 tenant ha5 recently moved out to a MO￿ suitable
property which has prompted the Trust to revisit the role of property in our portfolio. While the cottages
have served us well. their age and location places a incTeasing maintenance burden on the Tn￿t. not to
mention the legal constralnts a550ciated with a listed property. The Trust has therefore embarked on a

comprehensNe review of our property holdings to explore less restrictive property options with a lower
Maintenan￿ burden. The review has atso looked at options to maintsin 8fant grrfin8 in line with inflation
o¥er medium to long temi.
Grants
Grants this year have totalled over £32K. h has been encouraging to see actl¥lty return to somethlng
resemblln8 the pre-COVID levels with some new actNity also taking pla￿. We have been able to support
childfen's clubs in overseas garrisons and familie5 attending Christian teathing conferences. 55milarly. we
continue to subsidise a Christian holiday camp for service children, military tsmllles attending summer
house parties and young 9)Idier5. soik)rs and airmen attending Christian festr4als.
These actNlties are typical of the bmad range of activities that we support across all three serv1￿5
Including both serrfing and ￿tired militsry familles and their dependants, thus demonstratlng a tangible
wider publlc benefft. We encoura8e and welcome new bids, especially from those wtth novel ideas.
We continue to work, where posslble, with other estsbllshed MCOS Includln8 Mllltary Chaplaincies, but at
the same time encoura8e bids, la￿e or small, frorn indlvlduals and noTrmllitsry or8anisations where they
support the wider military community. We continue to work wlth the Arnied Forces Christian Union IAFCUI
and the Soldiers and Airmen kripture Readers Association ISASRAI which provldes support to members of
all three seNices, and our grants subsidise the cost of their numerous events.
MANAGEMENT OF THE TRusr
We are fortunate to have a body of willin8 trustees who 8lve freely and generously of their time and, bein8
either servin8 militsry or ex-military. brln8 knowledgeable, mature and reasoned judgement to their task.
The trust does not have pem)anent employed staff or offices; its adminlstration is conducted on the
Internet usin8 a secure well-produced and malntslned Trustees, forum. This reduces cost and is time
efflclent. The Trust also maintalns a public web site from whlch anyone may galn Informatlon and submlt a
8rant application.
Trustees Commlttee meetiw are held three times a year and are recorded in mlnutes as ￿quired by
Charlty Commission rules. Admlnistrdtlon costs are r*gllBlble.
The accounts contlnue to be malntalned to an extremely hi8h standard by our ireasurer Mr R J Campbell
and we are well supported and advised by our Brewin Dolphin fund manager. The accounts are properly
extemally examined In accordance wlth Charity Comrni55ion rules and tlw are filed with thls report for
scrutiny as required.
Rl$k An•lysls
The Trustees conslder the prfncipal risks affecting the charity to be:
A decline In the value of investments. While there may have been some decline In real terms
laccountln8 for inflatlonl during the period. the perfonnance Was in line with the wider market and
therefo￿ refiettrve of systemk. cyclical forces rather than any weakness in the underlying portfolio. The
trustees continue to minirnise valuation risk by engagin8 Portfolio manager5 to maintain a balanced
portfolio under regular review. Brewin t)olphin reported to all trustees In January 2023.
Damage to property which the Trustees seek to minimise ty maintalning management oversight of
the properties and ensuring adequate Insuran￿ cover.

Investmont Polky
Seeking to achieve a robust income yield to fulfil its tharitsble purposes coupled with long temi capital
growth as an infiationary hedge from a balarKed risk portfolm).
Publlc Benefft
In preparin8 this report. arKI in planning future actNity, the trustees have consldered the Charity
Commission's general guidance on public benefft and Its supplernentsry wblic gu￿anCe on the
advancement of religion for the public benefrt.
The trustees believe that the best way to carry out our objectfves, and to provlde public benefft for the
sector of the public targeted within our constitutlon. is to continue to support oryanisations and individuals
in line with our charitable objectives.
SUMMARY
The Trust has had another good year desplte contlnulng challen8es. We optimistlcally look forward to
2023124 seeing a contlnued inC￿aSe in requests while ensurlng our Income from investments allows us to
keep pace. We contlnue to encourage and welcome innovatlve and novel blds for support in additlon to
those regularty received. We remain well placed financlally with senslble reserves that will continue to
enable us to weather any further fluctuations In the broader etonomlc envlronment and allow us to fulfll
our alms and objectlves in accordance with our constitution and charter- fijll details of which are available
on our webslte rf requlred at http".Ilvrnw.thecorneliustrust.org.
On behalf of the Trustees
JPJJud8e
Lleutenant Colonel
Chalrman of Trustees
17 Nov 23

Page 6
THE CORNELIUS TRUST
STATEMEN[ OF TRUSTEES, RESPONSIBILIT
Chartty law requires the to prepare financial statements for ¢ach fJJwicial year which giv¢ a
true and fair view of the state of affairs of the charity and of its fi[w￿la1 activities for that y¢ar.
The In￿teeS TespK)nsible for keeping proper a£wunting [￿dS which disclose with re&sonable
accuracy at any time the financial w)sition of the chaTity and to enable them to ensure that the
financial slalemenls comply with the Clwities Acts. They are also resFM)nsible for safeguarding the
sets of the charity and hence for tsking re&8onabl¢ steps for the prevention and detection of fraud or
other i￿gUlarItieS.
Date: Jan 2024
Tnth and Chairn18n of the Trnstee Council J P J Judg¢

CHARITY COMMISSION
FOR ENGLANO AND WALES
Independent examinerfs report on the
accounts
Section A
Independent Examinerfs Report
R•port to tbe tnMte•8
Comelius Tnjst
Qn accounts for th• y•ar
•nd•d
31 Mgrth 2023
Gharlty no
(If any)
1002371
S•t out on pago8
8-14
I report to the trustees on my examlnation of the aCCo￿t6 of the above
charity (Ih• Trusf) for thg year wxled 31 March 2023
Responslbllltl•• and
bas18 of report
AS Ihe charity's trustees. you ore responsible for the preparation of the
accounts in accordance with the rnqllrwn￿ts of the ChantS05 Act 2011
(Ihe Act.).
I report In respect of my examination of the Tru8t's accounts carried out
under section 145 of the 2011 Act and In carying out my examination. I
havé followed all the applicable Direclions gr¥en by Ihe Charity Commission
undar 8ection 1445)(b) of the Acl.
Independent I have completed my examination. I confwm that no malerial matters have
examinerfs statsment come to my attention in connectlon with the examination {oth•r than that
dlsclosed below") which gives me cause to believe that in, any materlal
the accounting records nol kepl In accordance wtth uction 130
of the Charities Act.. or
the accounts did not accx)rd wlth the %countlng raeords,. or
Ihe a¢Gounts did not compty vAth the applicable requlrements
conceming the lomi and content of accounts set out in th¢ Ch8rlties
(Accounts and Reports) Regulations 2CKJ8 other than any requiremenl
that the accounts give a and fairf view which 18 not a matter
considered as part of an ir¥lependent examination.
I have no concerns and have ￿rne au083 rn other mattefs In conne¢tlon
with the 0xamir￿t1On to which attenlion shoukl be drawn In this report In
to enable a ryop8r urKler5tandir¥J of the aGcounts to b• reached.
Slgned:
Date:
30 January 2024
Name:
John Edwards BSdEcon)
Relevant profè$slonal
quallllcatlon(s) or body
{if any):
Addrn88:
S Sandalwood Road
Westb(ry Imltshire
BA13 3UP

Fcf tr*)r*e4thJ31* MARai ￿23
2022
155
J7
155
37
420
Investmem iM)mv
RtTht￿ ￿cOMe
37J81
19.930
37,881
19.930
Exptidhwrt
Costs of
l3ffi
31351
13MO
31.9S1
3.749
37J14
3.749
37.314
cnpit￿ Gty
Adrnini%trDtion
1568
480
Ca•lolw*i
48y
44.111
Toi*l Expe•dllur¢
59.741
$9.741
55J71
ijed w￿L￿*10n * ofinv¢ithiw
39￿4
39.354
($03861
65,197
65,197
Nel
144.6931
{44fi93)
1fyfj.792
106,792
{46h93)
144fi931
104.
I[￿.792
1693.6
I705ffj42
2JWXI
10.(xvJ
1598.830
Tolal fu#d b#]••¢M¢yrlEd f•I￿rI
2￿,9•1
14JK#)
21db.949
IWJ*42
2.7J5,642

THE CORNELTUS Tru
IIAiANCE StrtbE'I'
Ftrthe year e4thd 31st MARCH 2ty13
2022
NrAt
1560.149
2.647.427
CURRENf ASSETS
1.975
16.YlO
1.975
16.970
Cash ￿ bAnk - Thatch Acctsjnt
- Royal Bank of S¢c4l•nd
. Mot)mothhirt
- Cash
23.652
50.991
14203
1.750
25.432
It￿)33
41.385
1661457
2,705.782
CURRE￿ LIABIL￿1£s
Creditc
Accru￿$
Independent Examiner5 Fe¢
Payments on accowlt
140
140
Totsi Current LiabilitieB
IJO8
140
Net Assets
2,0￿.949
2,705.642
FUNDS
10
Thatch Major Ryir¥
iiooo
O¢n¢rAI Fund8
1646.949
1693.642
1660.949
2,705.642
Approved on bebdf ofthe Tn
IU CwnplKII

P#ge 10
THE CORNELIUS TRU
NOTES TO FtNANCtAL sfATEMEI¥TS
For ¢he yur eDded 31st MARCH 2023
I AcCOl￿[NG POLICIFS
SORP. The aw)unts (financial staten￿) have been prw3rn1 urtdtt the historical cost convention with
itrms r￿gnISed at Cost or transaction value Unl￿ otherwise stattsl in th¢ r¢lev￿￿ nolels) to these accounts.
Accounting gnd RepoT1ing by Chariti&s prepfir1￿ tbeir accimmts in a¢¢Ordan￿ with th¢ Finartoial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) ]￿U&l 16 July 2014 and the Financial
Reporting St8thrd applicabk in the Unitcd Kingd(AD and R4￿blIC of Ir¢laTrJ (FRS 102) 8nd the Charilies
Act 2011. The trurt CA)nstityte5 a public ben¢fit entity 8$ defined by FRS 102. Th¢trustees consid¢r that
ther¢ ar¢ no mattria] unc¢rt8inties about th¢ T￿￿.$ ability ¢0 ￿tinUe as a goin8 conc¢m. With rtspect to
the rtext reporting p¢rio¢ 2011k20. the TN>St Si8nificaM ar¢8s of unca¢wnty that affed the carying vatue of
assets held by the Trust are th¢ level of inv¢sIm￿t rtxum and th¢ wfornwK¢ of investsnen¢ morkets (see
the investhi¢nt policy pwf0nnQn￿ and Tisk Mana8￿ sections of the trUSte¢s' ann￿￿ wrt for more
infom￿tion).
( b ) The freehold pro￿rtY is revalual ¢very five years and was revalu￿ by the tnLStvs in th¢ year to 31st
Morch 2022 #rtd is now showD at morket Val￿ ￿ the time of vJluotion. The propO r¢pairs have been
thaT8ed in fvll to Inwme aThJ EXpa￿ltyre &COUDL
{ ¢ ) The PrOj￿t R¢kntyJ Promy. Unil 24 Shrivenham Hundred BuJine88 PaTK IB held so as lo m
it available for Militsry Chrirtian Orwisatiolls to us¢ in the eA)urse oftheir charitable activitie5 which are
$istentwith th¢ I)bJ￿tIv￿ of The CLYneliu5 TrusL The wopjty is held #t c¥xL
{ d ) Incom4 includin8 &p)sity is ¢rnlited to th¢ And F*iture at the lime of reeeipt
( e ) The t￿￿ h&$ taken tdvantw ofth¢ exempti￿ in the FinarKtd Rq￿titi8 Stsndwd No. l from producing
4 rn8h tlow stst¢mettt on the ￿0￿￿15 that it is a small Iwortin8 entity.
2 (YfHER INCOM
RENfAL fNCOME
2023
2022
Thatch RentAI Incom¢
20.1
19,830
Unit 24 Rentsl ]n¢ome
100
20.1(KJ
19.930

Po8e li
THE CORNEUUS Trusr
NOTES (tonlltt*ed) TO FINANCIAL sfATKMENKS
For the ye#r e#ded 31st MARCH 2023
2022
DIREcf CHARrrABLE EXPENDITiJRE
Op¢r*¢ini ¢xpenJ¢JJ
Insurance
MAintenanct
Major Th*h Improv¢m¢nts
Council T
light and wat
miscellan￿￿5
1.638
11012
1,659
13.650
3.749
Adml#lstrntlo
Post and ststionay
Proftssionai fe¢s
Tha¢¢h (Adrnin & Ryirs)
Thatrh (Prof¢3sional Fe¢s)
Audit and aecA)unt
Publiciry
T¢l¢pkn¢
Bank Char8es
Trustee Trnining
Trnvel And s¥Jbsistenc¢
17(X)
1383
1568
Administration
Trhvel
179
480

Page12
THE CORNELWS Trusr
NOTLS {contl#lled) TO FINANCIAL sfATEMENrs
Forth¢ ymr ended 318¢ MARCH 2023
2022
140
140
EMPIA)YELS
2022
Total emolum¢nts
Average number of employ¢¢s
No employee earned more than fAO.fJYJ ID the ye4r.

Page 13
THE CORNtLIUSTRusr
NOTES (coitinutdl TO FINANCIAL sfATEMKNTS
Ftsrthe ytArertded 31¥t MARCH 2OLI
2022
Quoted Ixvostments
1.685J40
.615,245
431.055
1425,937)
63.197
217.553
tlibP)sals in the year
Add /(ded￿) ]w ￿(1￿) Thaluat
I2￿207)
{50286)
C&rryitt8 Market V8lw at¢ndof )r
1.632.(All
1.683.540
Cash hcld with inve5tn
44.535
38.496
MaTk¢l val￿ as * 31 Mayth
1,697.135
1.724.036
Hisiwic cost of in¥esiovts at yrarayj
12WT2
1203,373
Freehold Tem•nted C•tt•
Carryin8 Market valw at trryntLin8of
Improvemtnts
Add Ildeduul I￿1 gOI￿(LO$s) revaj
C￿Y1[18 Markrf valu¢ at tr￿ of
640.1
640,000
Prol¢¢t Rel*t•d Iwvmtuwit
Ulll¢ 24 5hrlv•nbAThJ H*DOr•d
Cwing Market vDl* d *innin8of
Pur¢h
Add /(d¢th￿tI 141￿{￿5) on
CwryinK Mth va]w *ezKlof>r
223.014
223.014
223.014
223,014
Totsl Inve*tm¢ots (rn*rkrt v*l•¢)
Is￿,149
2.587.050
A•styil#
519.4YJ
1.133.110
1,651(
Overse&
Invat•nts Over4%
175.639
166.499
109296
7&876
75,825
10.YS%
9.81%
6.44%
4.65%
4.4PA
15haTeS Core S&P 5(KI UCITS ETF USD
Fidelity Ucits ECA US Q￿1
Fil Inv sv￿ IUK) IDX Pacific EXP
Fid¢lity Eurow Val￿S

Page 14
ThE CORNELWS TRusr
NOTES Ito•tJDued) TO FINANCIAL ￿AT￿ME￿I3
For the year ended 31st MARCH 2023
DEBTORS
2023
2022
Income tsx repayabl¢
8000
3.986
4,984
Debtors
1.975
1,975
16.970
10 FUNDS
Funds
Funds
Total
Balance at l April 2022
2,693,642
12.(KM)
2.705.642
Net movement in Funds
(46,693}
(44.693)
Balance at 31 Ma￿h 2023
1646,949
2,660,949
Th¢ Restricted funds represent a provision for repairs on the Fjeehold Tenanted Cottages thatched
11 TRUSTEES REMUNERATION
No Trustee received any remuneration from the Tn￿ during the ￿.
Three trustees received reimburscment of exwditure durin8 th¢ year.