THE CORNELIUS TRUST
ACCOUNTS
ST
31 MARCH 2024
CONTENTS
Page
Trust Administration
Report from the Trustees .
Statement of Trustees Responsibilities..........
Independent Examiners Report................................
Statement of Financial Activities....
Balanrx Sheet
Notcs to Financial Statcments.............................
10-14

Page 2
THE CORNELIUS TRUST
ADDRESS
4 Curlew Drive
Chippenham
Wiltshire
SN146YQ
PATRONS
The Rt Hon the Lord MacKay of Clashfern KT
The Lord Alton of Liverpool
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 (Chainrlan)
Mr R P Sheldon late RE (Secretary)
Mr R J Campbell ffreasurer)
Lcpl P Steen (Grant Secretary)
Lt Col V J Roberts RE
Lt Col W Faux
Sqn Ldr J Palmer MBE RAF
Revd MF Chatfield RN
Revd (Wg Cdr) AR Nicoll RAF
The Revd M Diett CF
Lcpl J Lee
SOLICITORS
Neale Turk Rochfort
12 Kings Ride
Camberley
Surrey
GU15 4JG
CHARrrY REGISTRATION
NUMBER
1002371
GOVERNING Tr4STRUMENT Trust deed dated 14" November 199U

THE CORNEUUS TRusf-TRusfEES' REPORT2023124
AIM AND PURPOSE
The Trust seeks to support serving and ex-serving members of the Amied Forces and MOD CNII Servants, as
well as their dependants, in developing and strengtheningtheir Christian faith through attendance at
camps, conferences, courses and at Christian leisure ￿ntres. We particularly seek to support and
encourage those engaged in evangelism within the Militsry and those who wish to consider the claims of
the Christian Gospel. We also provide wider benefit by assisting Christians from the Armed Forces of other
countries.
OBJEcfivES AND AcnviTIES
In accordance with our aim the trust provides financial grants to:
Support members of the Armed Forces and MOD ￿vil Service community to attend events organised
by the various Military Christian Organisations IMCOS) or other Christian events for rest, recuperation,
fellowship and teaching.
Support MCOS in their prowsion of cOnferen￿S, courses or activities.
Support other activities aimed at propa8atlng the Christian gospel within the Am)ed Forces.
Bids from junior service personnel are partlcularly encouraged.
CONSTITUTION AND TRusfEES
The constltutlon was revieweil in January 2022. There have been no significant changes deemed necessary
as the extant constitution contlnues to allow sufficient freedom of action to satisfy the objettives of the
Trust. We have said farewell to one trustee who left due to existing commitments in his work as serving
Chaplain. We have however been blessed with an additional servin8 trustee. This sees the number of
trustees remain at 11 in total. We also expect another trustee to move on shortly though we have recently
started the onboarding process for a new trustee. We remain fortunate to have several generously long-
servin8 trustees and office bearers who continue to give deeply valued seriice, and continue to manage the
succession of our longest serving and experienced trustees. ￿ a trust serving a predominantly 'young'
constltuency we are always conscious of the need to encourage and bring in new trustees, particularlv
those Junior Rates and Ranks from the three Services, whom we most routinely aim to support.
COMPLIANCE, ACHIEVEMENT5 AND PERFORMANCE
Investments
The financial year 2023124 saw an income frorn our underlyin8 investments of £44.8K, which are
professionally managed on our behalf by Brewin Dolphin. The Trust aSso owns property in Shropshire as
part of the investment portfolio which generates an income of just under £18K annually. The income, from
which grants are made, has been reasonably stable (see accounts for details) and, as a result, in this
financial year, we have been able to satlsfy in some measure nearly all bids which have met our criteria.
As noted above, we rent out property in Badger vlllage and our property lead continues to oversee the
management of these on our behalf via a letting agency Bloore & King. We have continued the process of
reviewing our property holdings due to their age and location placing an increasing maintenance burden on
the Trust, not to mention the legal constraints associated wtth a listed property. Of the four flats two are
now vacant and we expectthe other two to also be vacant toward the end of the next FY1241251. We
intend to convert the flats into 2 x semi-detached dwellings which will subsequently be sold with the
proceeds invested into another, more manageable, property portfolio.

Grants
Grants this year have totalled over £31.2K. We have helped numerous applicants attend retreats,
conferences, courses and pilgrimages. We also provided a significant subsidy for attendance at the
Gatherin& a weekend event focussed on men's ministry with inC￿a$lnE links to the military. Similarly, we
continue to subsidise a Christian holiday camp for sen4ice children, military families attending summer
house parties and young soldiers, sailors and aimien attending Christian festivals.
These attivities are typical of the broad range of acttvitles that we support across all three serrfices
including both serving and retired military familie5 and their dependants, thus dernonstrating a tangible
wider public benefit. We encourage and welcome new bids, especially from those with novel ideas.
We continue to work, where possible, with other estsblished MCOS including Mllitary Chaplaincies, but at
the same time encourage bids, large or small, from individuals and non-military organisations where they
support the wider military community. We continue to work with the Armed Forces Christian Union IAFCUI
and the Soldiers and Airmen Scripture Readers Association ISASRAI which provides support to members of
all three services, and our grants subsidise the cost of their numerous events.
MANAGEMENT OF THE TRUST
We are fortunate to have a body of wllling trustees who give freely and generously of their time and, being
either serving military or ex-military, brin8 knowledEeable, mature and reasoned jud8ement to their task.
The trust does not have permanent employed staff or offices," Its administration is condurted on the
Internet using a secure well-produced and maintained Trusteeg forum. This reduces cost and is time
efficient. The Trust also maintains a publlc web site from which anyone may gain infonnation and submit a
grant applicatlon.
Trustees Committee meetings are held three times a year and are recorded In minutes as required by
Charity Commission rules. We plan to migrate to MS365 next year using thelr nonprofit package.
Administration costs are negligible.
The accounts continue to be maintained to an extremely high stsndard by ourtreasurer Mr R J Campbell
and we are well supported and advised by our Brewin Dolphin fund manager. The accounts are properly
externally examined in accordance with Charity Commission rules and they are filed with this report for
scrutiny as required.
Rlsk Analysls
The Trustees consider the princlpal risks affecting the charty to be:
A decline in t￿ value of investments. Whilethere may have been some decline in real terms
(accounting for inflation) durin8 the period, the performance was in line with the wider market and
therefore reflettive of systemic, O￿lical forces rather than any weakness in the underlying portfolio. The
trustees continue to minimise valuation risk by engaging Portfolio managers to maintain a balanced
portfolio under regular review. Brewin Dolphin ￿ported to all trustees in January 2024.
Damage to property which the Trustees seek to minimise by maintaining management oversight of
the properties and ensuring adequate insurance cover.
Investment Pollcy
Seeking to achieve a robust income yield to fuffil its charitable purposes coupled with long temi capital
growth as an inflationary hedge from a balanced risk portfolio.

Publlc Benefft
In preparing this report, and in planning fiJture attivity. the trustees have considered the Charity
Commission's general guidance on public benefit and its supplementary public guidance on the
advancement of religion for the public benefit.
The trustees believe that the best way to carry out our objectives. and to provide public benefit for the
sector of the public targeted within our constitution, is to contlnueto support organisations and individuals
in Ilne with our charitable objettives.
SUMMARY
The Trust has had anothergood year despite continuing challenges. We optirni5tically look forward to
2024/25 seeing a continued increase in requests while ensuring our income from investments allows us to
keep pace. We continue to encourage and welcome innovative and novel bids for support in addition to
those regularly received. We remain well placed finanaally with sensible reserves that will continue to
enable us to weather any further flurtuations in the broader economic environment and allow us to fulfil
our aims and objettives in accordance with our constitution and charter- full details of which are available
on our website if requlred at httP:l/www.thecorneliustrust.or8.
On behalf of the Trustees
JPJJudge
Lleutenant Colonel
Chairman of Trustees
04 Oct 24

Page 6
THE CORNELtUS TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
Charity law requires the trustees to prepare financial statements for each fmancial year which give a
true and fair view of the state of affairs of the charAty and of its fmancial activities for that year.
The trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the fmancial position of the charity and to enable them to ensure that the
fmancial ststements comply with the Charities Acts. They are also responsible for safeguarding the
assets of the charity and hence for taking re&8onable stq)s for the prevcntion and detection of fraud or
other irregularities.
Date: Dec 2024
Trustee
d Chainnan of the
stec Council J P J Judge

CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
Comelius Trust
On accounts for the year
ended
31 March 2024
Charity no
(if any)
1002371
Set out on pages
8-14
I report to the trustees on my examination of the accounts of the above
charity (Wie Trust.) for the year ended 31 March 2024
Responsibllitles and As the charty trustees of the Trust, you are responsible for the preparation
basis of report of the accounts in accordance with the requirements of the Charities Act
2011 (Ihe Acr).
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed the applicable Directions given by the Charity Commission
under section 145(5)(b) of the Act.
I have completed my examination. I confim that no material matters have
come to my attention (other than that disclosed below ") in connection with
the examination which gives me cause to believe that in, any material
respect..
accounting records were not kept in accordance with section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examinerfs statement
I have no concems and have come across no other matters in connection
wrth the examination to which attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
Slgned:
Date:
10 January 2025
Name:
John Edwards BSc(Econ)
Relevant professional
qualiflcatlon(s) or body
{if any):
Address: | 5 Sandalwood Road
Westbury
Wiltshire BA13 3UP
IER
October 2018

Pag¢ 8
THE CORNEUUS TRUST
Ftythe 31st MARCH 2024
2024
2023
Un￿tricted R¢striued
Fund5
Funds
Note
Fulldq
Totsl
Ineome aDd endowments
Donations
Tax reclaimable
Bank interest
Investhient income
Rcntsl inc¢)rne
Misce118neous incom¢
Insurance Re¢ov¢r¢d
io
10
24
24
1,579
44.899
17.840
1.579
44.899
17.840
420
48.390
20.100
420
48.390
20.100
Totsl income
64J28
64J28
68.934
68,934
Expenditure
Costs of raising funds..
Investm¢Dt Management Costs
11,539
11.539
11235
11235
Eipertdlture on ch*rltAble *etivltle•
Op¢ratiAg expenses
Gronts
Cgpital Grants
Administration
TnL8tees F.xpenses
11.709
31232
11,709
31232
13.650
31.951
13,650
31,951
2,545
2.545
2.880
25
2.880
25
Cost of grint maklDg
45,486
45.486
48,506
48.506
Total Expetsdlture
57.025
57.025
39.741
59.741
Net galn3lllo$vJ) on InveJtmeThts
Realised gainl(Loss) on sale of inv&stsnents
Unr¢alised gaiTrIll￿s$} on rcvalu¥tion of Ccrtta8¢S
Unreali5¢d I1￿YgaInS on In￿tt￿ent 45S¢ty
19.501
19.501
(3.600)
(3,600)
174.571
174.571
(50.286)
150,286)
Net Incomel(expeDdlture>
201 J75
201 J75
{44,693)
(2.000)
144.693)
Transfers Between Funds
(2.(M)O)
2.000
Net movement In fund$
199J75
201J75
{46,693)
2.000
144,093)
Fund balances brought foTward
2.646,949
14.OLKI
2.60Q,949
2.093.042
12.(M>Q
2,7OS.642
Total futtd baliD¢U cArrltd forwArd
2.846J24
16.C
2.862324
2.646.949
14,000
2,660.949

Page 9
THE CORNELIUS TRusr
IJALANLE SHbE'I'
For th¢ y¢arended 31st MARCH 2024
2024
2023
STMENrs
2.787.581
2.360.149
CURRENT ASSETS
Debtors & PrepaYM￿¢S
1.975
7.996
1.975
Cash at bank . Thatrh ArLx)unt
- Royal B8nk of s￿lIa￿d
. Monmouthshirc
19.091
5.741
23.652
50.991
25.690
71.609
100.333
2.867.186
2.662.457
CURRENT LIABILITIES
Credilors
Accruals
Independcni Examiners Fee
Payments on ￿(￿l￿nt
4.717
1.368
140
145
1 otal Cwr¢nt Liabilities
4.862
1.508
Net Assets
2.862.324
2.660.949
FUNDS
io
R trifttd Funds
Thatch Major Repairs
16.(K)O
14,000
nrestricted F
General Funds
2.840J24
2.646,949
2,%62.324
2,660.949
Approved on i￿half of the Trusteas
IU Campbell

Page 10
THE CORNELIUS TRUST
For the year end￿ 31st MARCH 2024
I ACCOUNTING POLtClES
( a ) The financial statcmeDts have preparnj in accord￿ with the Statement of Re￿ll￿nded Practice
SORP. The accounts {financial ststements) have FKcn prepared the historical cost convention with
items recognised at C05t or trgn5action value unless otherwise stated in the relevant t￿te{s) to these accowts.
A¢wunting and Rewrting by Charities preparing their accounts in accordance with the Financial Retx)rting
Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial
Rew)rting Standard applicable in th¢ United Kingdom and Republic of Ireland (FRS 102} and the Clwities
Act 2011. The trust constitutrs a public l)enefit entity &$ defined by FRS 102. The tntstees consider that there
are no mat¢rial uncertainties atr%)ut thc TnL%t's ability to ￿nIInue &8 a going Conc￿ With respect to the next
fCFKTrrtiDg pcriod 2019-20. the most significant 8T￿$ of unccrt&inty that affLYt thc carrying value of assets
held by the Trust arc th¢ l¢vel of 1nvcslm￿t T¢tyrn and thc Ftrfornwitt of investment markets (see thc
investment EK)licy ond I￿rf0M￿l¢¢ and risk man4rnt sedio]L8 of the trust¢&8' annual TeFM)rt for more
information).
{ b ) The freel)old prO￿ty is revalued ¢very five y¢￿S and was revalued by th¢ Irt￿ in the Y￿ to 3 1st
March 2022 and is now shown at market value at the tim¢ of va]uation. The property repairs have been
Charged in full to Inwne and Ext*nditure accounL
( c ) The Projed Related Investmthrt Prom. Unit 24 Shrivenham Hundred Business Parl is held so as to make
it available for Military Christian Organisations to w in the coursc of their chaTilabl¢ &ctivitie5 which are
CON8iStcnt with the objectiVC5 of The Con%lius T￿￿ Tr proFtrty is held at ￿)st
( d ) Incom< including dep)siL% is credited to the Inc4>me and Ex￿ndItUre aco)unt at the time of rettipt and
includcs th¢ rccovery of tax deducted al 50urcc.
( e ) The trust has tak¢n advantage of tk exemption in the Finawi8] RewtiDg Stsndard No. l from prcducing a
cash flow statcmcnt on the wds that it is a s￿￿1 reporting ¢Dtity.
2 OTHER INCOME
RENTAL fNCOME
21n4
2023
Thatch Rcntsl Income
17.840
20.100
Unit 24 Rcntsl Incomc
17.840
20,100

Pagell
THE CORNELIUS TRUST
NOTES (continued) TO FINANCIAL STATEMENTS
For the year ended 31st MARCH 2024
2024
2023
DIRECT CHARITABiE EXPENDITURE
Operating expen
Insurance
Maintenancc
M&jor Thatch Impmvemcnts
Council T&x
HcaL light and water
Miscellaneous
2.643
8.290
1.638
12.012
656
120
i(K)
11.709
13.750
Admini$trAtiOD
Post and stationery
Professional fees
Thatch (Admin & Repairs)
Thatch (Profe&8&ona] Fees)
Audit and ac&)untancy
Publicity
Telephone
Bank Charges
Trustee Training
Travel and subsiSt¢nce
2,360
145
1700
140
2,545
2.880
Trnstees Expens¢s
Athninistration
Travel
Other
25
25

Page 12
E CORNELIUS TRUST
NOTES (continued) TO FINANCIAL STATEMENrs
For the year ended 31st MARCH 2024
2024
2023
INDEPENDEIYT EXAMtN£RS REMUNERATJON
145
140
EMPLOYEKS
2024
2023
Total emoluments
Average number of employ
Nil
No employee earned morc than £40,(KKI in th¢ year.

P88e 13
THE cORNE[￿S Tru
NOTFS (oMtioued)TO FINANCIAL sfATKMENrs
For the yur ended 31st MARCH 2024
INVESTMENTS
2024
20
Quoied iDvfstments
Carryi￿8 Market Value * bewg of year
1.652.6(K)
1,685.540
593.147
217,553
(580.638)
174571
(200207)
(50286)
Add l(¢*AIuL*) Det s￿(lA)SS) r¢valuati(
Corryiti8 Market valu¢ ￿ thd of year
1.839.680
1.652.600
Cash heldwrtb inv¢yttn
84,887
44.535
Markd Value at 31
1.924.567
1.697.135
Historlc costof InNrStn￿ts at Y￿ cad
1,455221
1286,272
Freehold Ten*nted cO￿ge1
Carryitig Markd value at bw'nnin8of y¢
Improvemcnts
Add Ildedua) net Bainl{Loss) on revaluation
C8nyin8 Market value at eud of y
640.000
640.OCN)
Project R¢l•ted lttvestmtnt
Unlt 24 Shrivenham Huttdrtd
Caryyin8 Markrt V8]uL' of year
223.014
223,014
Add l{dedu¢t) n¢t gain1(L￿8) cffi revaluotion
c￿yIn8 Mwket valuc * ¢nd of y
223.014
223.014
TotAI InveJtme•ts (m•rk¢t v*lue)
1787.581
1560.149
AD#lysls of Invtttments
651.060
1.188.620
1.839.680
lttvestmettts Over 4%
1sbar&s Core S&P 500 uC￿s ETF USD
Fiiklity lJcits ICA US Q
Fid¢lity Euro￿ Valu
C8Pital LcdB¢r (C&8h)
DB X.Tracker MSCI Japan
210.487
128.732
88J13
78.346
10.94%
6.6(f/ts
4.59%
4.07Y•
4.04%

Page 14
THE CORNELIUS TRUST
NOTES (continu¢d) TO FINANCLiL sfATEMENrs
For the year ended 31st MARCH 2024
DEBTORS
2024
2023
Income tsx repayable
Debtors
Prepayments and accrued incom¢
7,996
1.975
7.996
1,975
io FUNDS
General Restricted
Funds
Funds
Total
Balance at l April 2023
2.646,949
14.1)00
2,660,949
Net movement in Funds
199,375
2.000
201,375
Balance at 31 Ma￿h 2024
2.846.324
16.000
2,862,324
The Restricted fLU)ds represent a provision for repairs on the Freehold Ten8nted Cottages thatched
roof.
11
TRUSTEES REMUNERATION
No Trustee received any remuneration from the Trust during the year.
No trustees received reimbursemeni of necessary expendiiure duriJ]¥ ihc y￿.