CHURCH
CORPORATION
TRUST
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
CHARITY REGISTRATION
NUMBER 1051555

CHURCH CORPORATION TRUST
CONTEtrrrs
FOR THE YEAR ENDED 31 DECEMBER 2023
Page
Trustees, Annual Report
1to5
Statement of Trustees, Responsibilities
Independent Examiner's Report
Statement of Financial Activities
8&9
Statement of Financial Position
10
Notes to the Financial Statements
11 to25

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Legal and Administrative Details
Governing documents:
Charter of Edward Vl 1547
Scheme of High Court 1852 as varied by subsequent schemes
Charity Commission Scheme 151090 sealed 30 December 1993
Draft Charity Commission Order 181805 of 2000 (subsequently
approved)
Charity registration:
1051555
Working name:
The registered name of the Charity is Church Corporation Trust
The working name of the Charity is Crediton Church Corporation
Principal address:
Clerk to the Governors
Crediton Church Corporation
Clo Parish Office
Boniface Centre
Church Lane
Crediton
Devon
EX17 2AH
GovernorslTrustees:
A A White
C M Clark
Miss C S Nicholl
JDWard
G J Mortimer
E J Heard
Mrs R Cheriton
J King
D Brassington
W J Crooke
H M Parker
R E Geering
(resigned 10 October 2023)
{appointed 10 October 2023)
C M Clark, Mrs R Cheriton and J King (to 10 October 2023} are the three Governors representing Sandford.
The Charity's professional advisers are as follows:
Independent examiner:
N Smy ACA
Westcotts {SW) LLP
Chartered Accountants
Queens House, New Street
Honiton
EX14 1BJ
Solicitors:
Gilbert Stephens LLP
1 WeS￿rd Business Centre
Mill Street
Crediton
EX17 1HB
Bankers:
National Westminster Bank plc
59 High Street
Exeter
EX4 3DL
Investment managers:
Charles Stanley & Co Limited
Broadwalk House
Southernhay West
Exeter
EX1 1TS
CCLA Fund Managers
One Angel Lane
London
EC4R 3AB

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Governorstfrustees present their report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out on pages 11
and 12 and comply with the Charity's governing documents. applicable law and the requirements of the
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) (Charities SORP (FRS
102)} and the Charities Act 2011.
Charity Objectives
The original objects of the Corporation under the Charter of Edward VS were the furtherance of divine worship
and the education of boys. This followed the purchase of the Church of the Holy Cross and its assets by the
twelve Governors during the dissolution of the monasteries
Crediton being a Collegiate Church. The
purchase was on behalf of and for the benefit of the inhabitants of the Ancient Parish of Crediton (this included
Sandford}. The Charter confimed the fact that the said inhabitants had subscribed and paid £200 for the
purchase of the assets of the fomier Collegiate Church. There are normally twelve Govemors or Trustees, of
which three represent Sandford, to the present day.
The role of the Governors has evolved during this period. It is now principally the upkeep and rna1ntenan￿ of
Holy Cross Church, Credilon and the churchyard; the Chancel at St Martin's Church, Exminster. the upkeep of
St Lawrence Chapel, Crediton and a similar responsibility for St Boniface Church, Knowle, Crediton. The
freeholds of St Lawrence Chapel and St Boniface Church are vested in Crediton Church Corporation but
thout any endowment for their upkeep.
Under the Charity Commission Scheme 151090 sealed 30 December 1993 financial support is provided to
Q. E. Educational Foundation (Charity no. 1059656) and via the Diocese a contribution is made to the
stipends of the Clergy of Crediton, Sandford and Exminster. There is also a provision for poor relief in these
areas. The Governors also handle the affairs of three associated charities whose accounts are included
herein. These are principally for poor relief or educational purposes.
Under the will of the late John Alan Kelly, the Corporation received a substantial legacy in 200412005. This
was initially administered within the Corporation but as of 1 January 2007 a separate charity, Kelly Trust
(Crediton), Charity Commission no.. 1116644 was set up and the balances held in respect of the legacy were
transferred to the new Trust.
Appointment of Governors
In all, there are normally 12 Governors elected by existing members wth no time limit on their tenure in office.
Nominees are normally recommended by an existing Governor and approved by all members. Where a vote is
required, this is undertaken in accordance with the procedure adopted in the minute of 8 December 1835. All
Governors are expected to live within the parishes of Crediton and Sandford {the Ancient Parish of Crediton).
The ratio of nine Governors from Crediton and three from Sandford is maintained.
Activities and Revlew
General
In the year the Governors continued their work of administering the Charity on behalf of the inhabitsnts of
Crediton and Sandford including the provisions of the Charity Commission Scheme of 1993 no.151090. In
addition, the Governors continued to administer the three associated charities as detailed below and herein,
together with sundry endowment funds held in trust.
In recent years, besides fulfilling their regular Commitments, the Governors have tried to build up their fr
reserves from a very low base. This relates in particular, to the Unrestricted Fund, as shown in the statement
of financial position. The balance of this fund at 31 December 2023 was £67,001 {2022.' £52,821).

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Activities and Review (contlnued)
Legacy
The Governors were pleased to receive a legacy of £1,000 from the Estate of the late Mrs F G Davie.
Organ House
The Organ House was let to a new tenant, Mr Nick Trott, from April to be used as office space. The lease is for
3 years with an 18 month break clause. The rent is £175 per calendar month.
Principal Expenditure
The main item of expenditure in 2023 was..
Churchyard maintenance - £2,359.18 net (including £906 relating to work on trees)
Churchyard maintenance at Holy Cross continues to be a major ongoing expense, although in 2023 it was
g¢)od deal less expensive than in recent years.
Restoration Committee
This is considered a subcommittee of the Governors and accountable to them. The Governors maintain a
significant representation on the committee and their accounts are incorporated herein. Fund-raising has not
returned to pre-covid levels but the Christmas Tree festival, in particular, was very successful realising a
surplus of £5,401.
Campaign RoofAppeal
In the Quinquennial Report carried out in February 2014, it was reported that the lead roofs were reaching the
end of their useful life and would need replacing. Total cost would be in the region of £1.5 million. On 3 May
2014, the Campaign Roof Appeal was launched by the Restoration Committee, formerly the Fabric
Fundraising Committee, with a view to seeking suitable grants and commencing local fundraising. It was
realised that the work would have to be in several phases over a number of years. The balance held by the
Restoration Committee as at 31 December 2023, for the roof appeal, was £291,350, including a donation in
2019 of £50,000 from Kelly Trust (Crediton).
Church House Endowment
As mentioned in earlier years, the COIF Investment Fund account in the name of the Organ Loan Repayment
Fund was transferred into a permanent endowment in the name of Church House Endowment Fund on 2
January 2014, better to reflect its origin. We weE required by the Charity Commission to build up an
investment of £80,050 over 40 years, maximum, to replace the sale proceeds of Church House - these funds
helping to finance repairs to the organ in 2001. The target was finally met in February 2016 and the value of
the fund at 31 December 2023 was £124,529. Income from the investment is treated as unrestricted income
as was the case with rents from Church House received in earlier years.
Changes to Personnel
Mr Rupert Geering was elected as a Governor on 10 October 2023.
Mr James King resigned for health reasons as of 10 October 2023 and was thanked for his years of servi
Basis of preparation of the accounts
The financial statements have been prepared on an accruals basis in line with previous years.

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Activities and Review (continued
Additional Charities13) administered by the Governors (not in the 1993 Scheme).
The Governors continued the administration of the three Charities, approving grants where appropriate and
retaining the unspent income for the benefit of the Charity andlor future applicants. Full details of this year's
transactions are shown in note 24. The Charities are:
Benjamin Wood Cleave.. Registered Charity number.. 254009
Objects.. The relief of persons resident in the Parish of Crediton who are in conditions of need, hardship or
distress either by gifts in kind or grants of money.
Benjamin Cleave (Haywards).. Registered Charity number.. 306761
Objects.. To clothe children attending Hayward Charity School, Crediton.
The Dunn & Thomas Foundation: Registered Charity number.. 306655
Objects.. Promoting the education of boys and girls who are resident in the area of the Ancient Parish of
Crediton and who are members of the Church of England and who are in need of financial assistance. Grants
made in the year totalled £220 - to "Open the Book" ie educational purpose.
Expendable Endowments (1993 Scheme)
Exminster Church (Chancel Repair Fund)
£800 is transferred each year to the fund in line with the 1993 Scheme and is available to be spent in
accordance with the scheme.
Crediton Church Repair Fund
£3,200 is transferred each year to the fund in line with the 1993 Scheme and is available to be spent in
accordance with the scheme.
Pernianent Endowments and Designated Funds (not in the 1993 Scheme)
The Governors paid over or retained on behalf of the beneficiaries, income received in respect of the various
permanent endowments and designated funds, in line with the financial statements.
Exminster School Site Monies (site sold 1987)
With the knowledge of the Charity Commission and after taking extensive legal advice in 2007, the Governors
agreed to transfer the funds held in respect of the above into Ihe Corporation's permanent endowments within
the 1993 Scheme. The capital balance held was transferred to a COIF Investment Fund and the interest
accruing invested in a Discretionary Portfolio with Charles Stanley & Co Ltd.
Income from these investments is treated as income wthin the 1993 Scheme. The Governors agreed to take
out additional indemnity insurance to protect themselves in the unlikely event of someone coming forward with
a better title to the proceeds

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Activities and Review (continued)
Permanent Endowments and Designated Funds (1993 Scheme)
As at 31 December 2023, the balances held in respect of the permanent endowments within the 1993 Scheme
were: .
No.1
No.2
No.3
No.4
£653,809
£26,122
£228,621
£181,493
COIF Investment Fund
COIF Fixed Interest Fund
COIF Investment Fund (formerly Exminster Capital}
Charles Stanley & Co Ltd Personal Portfolio (formerly Exminster Income)
As at 31 De￿rnber 2023, the balance held in respect of designated funds within the 1993 scheme was:
No.2
£32,115
COIF Fixed Interest Fund
Financial Policy- Investments
Capital monies have, for many years, been held in the COIF Charities Investment Fund, the Fixed Interest
Fund or on COIF Deposit Account. Where it is anticipated the capital will never be called upon, the monies
have usually been pla￿d in the Investment Fund where there should be an element of capital appreciation in
addition to income over the long term. In order to spread the risk, the Exminster funds were invested partly in
COIF and partly in a Discretionary portfolio (since switched to a Personal Portfolio) with Charles Stanley & Co
Limited.
Members of the Finance Committee met regularly in 2023 and matters were kept under regular review. In
2023 it was again decided not to disturb existing holdings within CCLA. Our investments performed very
much in line with the market.
Financial Policy - Reserves
Whilst the unrestricted balances have improved in recent years, the Governors are limited largely to the
income generated by our endowments etc, particularly within the 1993 Scheme. Income cannot be increased
from these investments to any great extent without increasing risk.
Financial Policy- Risks
Day to day risks are reduced as far as possible by ensuring that three Governors sign all negotiable
nstruments, that Governors ensure they know the background to all cheques, etc. they sign and that on no
account are cheques lo be signed blank. As regards the Restoration Committee account, all withdrawals have
been signed by the Treasurer of the Committee, together with the Chairman or Secretary (their Chairman is a
Governor and their Secretary is also Clerk to the Church Governors). Prior approval of the Governors is
required for payments over an agreed discretionary limit. It is felt by the Governors that some authority should
be delegated to this committee and its officers, as they are instrumentsl in raising their income.
The Governors have taken the precaution of purchasing Trustee Indemnity Insurance in respect of any
personal liability.
It is believed that all other risks are covered by our general insurano.

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of Trustees, Responsibilities
The trustees are responsible for preparing the trustees, annual report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Law applicable to Charities in England and Wales requires the trustees to prepare financial statements for
each financial year which give a true and fair view of the charity and of the incoming resources and application
of resources of the charity for that year. In preparing these 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 and statements of recommended practice have been
followed subject to any 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
charity will continue in operation.
The trustees are responsible for keeping adequate accounting records which are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of
the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the
Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of
the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
This report was approved by the Governors on ....
and signed on their behalf by..
A A White
H M Parker

CHURCH CORPORATION TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
I report on the financial statements for the year ended 31 December 2023 which comprise the statement of
financial activities, statement of financial position and the related notes.
Respective responsibilities of trustees and independent examlner
The Charity's Trustees are responsible for the preparab'on of the financial statements. The Charity's Trustees
consider an audit is not required for this year under section 144{2) of the Charities Act 2011 (the Charities Act)
and that an independent examination is needed.
It is my responsibility to:
(i)
examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the General Directions given by the Charity Commission
(under section 14(5}(b) of the Charities Act), and
to state whether particular matters have come to my attention.
Basis of independent examlner's statement
My examination was carried out in accordance with the General Directions given by the Charity
Commissioners. An examination includes a review of the accounting records kept by the Charity and
comparison of the accounts presented with those records. It also includes consideration of any unusual items
or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit, and
consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is
limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention..
{1) which gives me Easonable cause to believe that in any material respect the requirements..
to keep accounting records in accordance with section 130 of the Charities Act,. and
to prepare accounts which accord with the accounting records and to comply with the
accounting requirements of the Charities Act have not been met: or
(li) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
N Smy ACA
Independent Examiner
Westcotts (SW) LLP
Chartered Accountants & Business Advisors
Queens House
Honiton
Devon
EX14 1

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CHURCH CORPORATION TRUST
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
Notes
2023
2022
Fixed assets
Investments
14
1,942,255
1,800,349
Current assets
Debtors due within one year
Stock
Cash at bank and in hand
15
9,854
10,689
8,246
11,280
97
117,128
16
148,188
Creditors: amounts falling due
within one year
17
Net current assets
117542
Total assets less
current liabilities
Expendable Endowment funds
Unrestricted funds
Designated funds
Restricted funds
Permanent Endowment funds
19
20
21
22
23
91,228
67,001
163,969
339,944
97
79,455
52,821
150,467
321,294
1287 450
18
Approved by the Govemors on .
e I Ic IzLt......... and signed on their behalf by:
H M Parker
10

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 DECEMBER 2023
1. Principal accountlng policies
General inforniation
The charity is registered charity in England and Wales and is unincorporated. The address of the principal
office is Boniface Centre, Church Lane, Crediton, Devon, EXI 7 2AH.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of I￿land (FRS 102) (Charities SORP (FRS 1021) and the Charities Act
2011.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of
rtain financial assets and liabilities and investrnent properties measured at fair value through income or
expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The charity has taken advantage of the exemption in FRS102 from the requirement to produce a cashflow
statement because it is a small charity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are continually reviewed
and are based on experience and other factors, including expectations of future events that are believed to
be reasonable under the circumstances.
Income
Investment income represents the interest arising on deposits and dividends re￿iVed. This income has been
included on an accruals basis.
Donations represent the amounts actually re￿iVed by the charity from donors during the year. along with
any tax recoverable.
Legacies are included when the Charity is advised by a personal representative of an estate that payment
will be made and the amount can be quantified.
Expenditure
Expenditure is included on an accruals basis and incorporates provisions for known liabilities where the
costs can be predicted.
Grants payable are charged in the year when the offer is conveyed to the recipient.
Cost of generating funds comprise those costs directly attributable to raising shop and festival income.
Support costs comprise costs associated with the upkeep and maintenance of the church.
Governan￿ costs comprises all costs incurred in running the charity itself as an organisation.
11

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. Principal accounting policies (continued)
Irrecoverable VAT
Irrecoverable VAT is included in the cost of the items reported in the financial statements.
Taxation
Under section 505 Income and Corporation Taxes Act 1988 the Charity is exempt from income tax and
capital gains tax.
Funds accounting
Unrestricted funds
These comprise those funds which the Govemors are free to use in accordance with the Charity's objectives.
Restricted funds
Restricted funds represent those funds that can only be used for particular purposes within the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised ft)r particular restricted
purposes. The Charity has a number of restricted funds and these are shown in note 22 to the financial
statements.
Expendable endowment funds
These endowment funds represent assets which are expendable, a transfer is made each year to each of
the funds from unrestricted funds as per the 1993 Scheme etc. See note 19.
Permanent endowment funds
Property of the charity (including land, buildings, cash or investments) that the trustees may not spend as if it
were income. It must be held permanently, sometimes to be used furthering the charity's purposes,
sometimes to produce an income for the charity. The trustees cannot nomially spend permanent endowment
without the commission's authority. The terms of the endowment may pemit assets within the fund to be
sold and reinvested, or may provide that some or all of the assets are retained indefinitely (for example. in
the form of a particular building). See note 23.
Investments
Investments are stated at market value.
Inalienable and historic assets
Inalienable and historic assets have not been capitalised as relevant cost infomiation is not available and
conventional valuation approaches lack sufficient reliability. Details of the inalienable and historic assets
have been disclosed in note 13.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual
provisions of the instrument.
Basic financial instruments are initially recognised at the amount r￿1Vable or payable including any related
transaction costs, unless the arrangement constitutes a financing transaction, where it is ￿cogniSed at the
present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected
to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares or preference shares are publicly traded or their fair value can othetwise be
measured reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at cost less
impairment.

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2. Investment Income
Total
Funds
2023
Total
Funds
2022
Unrestrlcted Endowment Restrlcted
Funds
Funds
Funds
Permanent Endowment income
1993 Scheme (note 25)
Permanent Endowment income
Restoration interest
Other interest
Tax refund
31,240
5,430
10,885
31,240
12,931
10,885
1,639
31,671
12,872
2,974
270
7,501
1.639
3. Donations and legacies
Total
Funds
2023
Total
Funds
2022
Unrestricted Endowment Restricted
Funds
Funds
Funds
Restoration fundraising
Other
Legacies
3,222
3,222
4.352
4. Festival income
Total
Funds
2023
Total
Funds
2022
Unrestricted Endowment Restricted
Funds
Funds
Funds
Annual summer festival
Christmas tree festival
1,130
389
5. Other income
Total
Funds
2023
Total
Funds
2022
Unrestricted Endowment Restricted
Funds
Funds
Funds
Rent received
Wayleave received
Administration charge for
3 administered charities
Sundry receipts
1,582
1,582
27
1,043
27
27
225
225
225
529
700
6. Cost of other trading activities
Totsl
Funds
2023
Total
Funds
2022
Unrestricted Endowment Restricted
Funds
Funds
Funds
Cost of shop sales
Fundraising costs
Festival expenses..
Annual summer fests'val
Christmas tree festival
1,896
1,898
278
13

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
7. Grants payable
Totsi
Funds
2023
Total
Funds
2022
Unrestricted Endowment Restricted
Funds
Funds
Funds
QECC (Exhibition Foundation)
Tuckfield United Schools
PCC Crediton
PCC Exminster
PCC Yeoford
Tuckfield Episcopal School
Relief in need - Crediton
Relief in need- Exminster
Relief in need - Sandford
Vicar of Crediton
Assistant Clergy
Rector of Exrninster
Rector of Sandford
Posbury
Bodley and Elston
St Boniface, Knowle
1,553
418
1,553
418
1,891
407
200
457
71
338
73
176
338
73
176
36
36
400
200
250
200
102
2.873
400
200
250
200
102
2,873
35
400
200
250
200
99
2,798
8. Support costs
Total
Funds
2023
Total
Funds
2022
Unrestricted Endowment Restricted
Funds
Funds
Funds
Rent
Insuran
Churchyard and car park
St Lawrence
Church repairs
Organ refurbishmenvrepairs
Exminster Glebe
Church fabric
Heritage Project
100
17,033
5,555
3,050
11,538
1,010
50
4,982
17,555
2,886
17,555
2,886
337
337
160
75
483
160
75
During the year the charity paid £319 (2022: £319) for Trustee Indemnity Insurance.
14

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED 31 DECEMBER 2023
9. Governance costs
Total
Funds
2023
Total
Funds
2022
Unrestricted Endowment Restricted
Funds
Funds
Funds
Clerk to Governors
Accountsncy
Payroll costs
Professional fees
Sundry expenses
Bank charges
Advertising
1,367
3,924
197
1,367
3,924
197
175
105
66
1,242
4,074
180
130
399
175
105
66
No employee {2022'. none) received emoluments over £60,000 in the year.
10. Accountancy fees
2023
2022
Independent examination
Accountancy
Other
1,962
1,962
2,037
2,037
11. Trustees. remuneration and expenses
Trustees received no remuneration (2022: £nil) and were not reirnbursed for any of their expenses in the year
{2022- £nil).
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CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Fixed assets
The Charity owns the following assets which are not included in the balan￿ sheet as they are considered
Inalienable Assets.
Church of the Holy Cross, Crediton purchased on behalf of the citizens of Crediton and Sandford for
£200 in 1547.
St BOn1fa￿ Church, Knowle, near Copplestone. Crediton.
st Lawren￿ Chapel, Threshers. Crediton.
All of the churches are maintained to a good standard by the charity and are current places of worship.
The Charity owns various heritage assets for which no market value nor cost value has been established, as
such these assets are not included in the balance sheet.
14. Fixed asset investments
2023
2022
Analysis of change in Investments during year
Valuation at 1 January
Additions
Disposal proceeds
Net gainsl(losses)
Valuation at 31 December
1,800,349
4,500
2,003,269
7,552
{366)
210 1C6)
15. Debtors due within one year
2023
2022
Gift aid and tax reclaimable
Interest receivable
Prepayments
Other debtors
1,104
622
16. Cash at bank and in hand
2023
2022
Natwest Bank- Current Account
Natwest Bank - Business Reserve Account
CBF Church of England - Deposit Fund Account
Natwest Bank - re Restoration Committee
Cash in hand - re Restoration Committee
(1,955)
67,365
25,000
37,124
111
1,543
49,905
25,000
21,154
17. Credltors
2023
2022
Money held by the Governors and owed to charities
administered by them (note 24)
Monies due in line with the 1993 scheme (note 26)
Other creditors
Accruals
12,495
13,789
438
8,515
12,804
933
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CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMETrTrs
FOR THE YEAR ENDED 31 DECEMBER 2023
24. Charities administered by the Governors (not in the 1993 Scheme)
Benjamin Wood Cleave (Charity Reg. No. 254009)
2023
2022
Investment income
Grants paid
Administration charge
Net incoming resources
Gainl(loss) on investments
Net movement in funds
Balance at 1 January
Balance at 31 December
1,749
1,742
{750)
75
917
75
1,674
7,118
62 165
(6,748)
Money held by govemors {see below)
COIF investment
Assets held at 31 December
5,568
3,894
Benjamin Cleave re. Haywards (Charity Reg. No. 306761)
2023
2022
Investment income
Grants paid
Administration charge
Net incoming resources
Gain/{loss)on investments
Net movement in funds
Balance at 1 January
Balance at 31 Decembor
1,158
1,071
{197)
75
799
75
1,083
4,686
{4,087)
Money held by govemors (see below)
COIF investment
Assets held at 31 December
3,101
2,018
Dunn & Thomas Foundation (Charity Reg. No. 306655)
2023
2022
Investment income
Grants paid
Administration charge
Net Incomtng resources
Gainl(loss) on investments
Net movement in funds
Balance at 1 January
Balance at 31 December
1,518
(220)
75
1,223
1,429
{400)
954
5,948
172
15,511)
58 683
Money held by governors (S￿ below)
COIF investment
Assets held at 31 December
3,826
2,603
50 569
2023
2022
Total monies held by the governors and owed to charltles
admlnistered by them (note 17)

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
25. Share of pernianent endowment income under 1993 scheme
2023
2022
Endowment Income
Less:
Fee farm rent
Insurance
Crediton repair fund
Exminster repair fund
Clerk's honorarium
Clerk's expenses
Accountancy and examination
31,240
31,671
(100}
{17,033)
13,200)
(800)
(1,242>
{194)
699
(17,555)
{3,2001
(800)
(1,367)
(197)
26 268)
Balance to be distributed
th
7120 to Crediton Educational
Foundation {QECC)
1,553
1,891
13120YI Divided
5 % Relief in need: Crediton
Exminster
Sandford
72
88
144
176
Vicar of Crediton
Assistant Clergy
Rector of Exminster
Rector of Sandford
400
200
250
200
400
200
250
200
1,050
1,050
80Yo Balance for Crediton
209/0 8alance for Exminster
1,352
1,829
457

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
26. Creditors due In Ilne with the 1993 Scheme
2023
2022
Crediton Educational Foundation (QECC)
2021
2022
2023
2023
28
1,891
{2028)
28
1,891
1,919
Relief in need
Exminster
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
71
71
60
57
47
59
48
44
41
60
57
47
59
48
41
36
645
609
Sandford
2021
2022
2023
54
36
134
98
200/0 Balance for Exminster
2016 bal
2017
2018
2019
2020
2021
2022
2023
65
634
407
336
321
608
457
338
65
634
407
336
321
608
457
3,166
2,828
Diocese re Clergy Stipends
2016
2017
2018
2019
2020
2021
2022
2023
1,050
1,050
1,050
1,050
1,050
1,050
1,050
1.050
1.050
1.050
1,050
1,050
1,050
1,050
25