CHURCH
CORPORATION
TRUST
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
CHARITY REGISTRATION
NUMBER 1051555

CHURCH CORPORATION TRUST
CONTENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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
11to25

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Legal and Adminlstratlve Detalls
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
D Brassington
W J Crooke
H M Parker
R E Geering
Dr S Miller
(appointed 9 July 2024>
C M Clark, Mrs R Cheriton and S Miller 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
Solicltors:
Gilbert Stephens LLP
1 Weslward 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 2024
The GovemorslTrustees present their report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out on pages 11
and 12 and comply with Ihe 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 Vl 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
Iwelve Governors during the dissolution of the monasteries
Crediton being a Collegiate Church. The
purchase was on behalf of and for the benefit of Ihe inhabilants of the Ancient Parish of Crediton (this included
Sandford). The Charter confirmed the fact thal Ihe said inhabitants had subscribed and paid £200 for the
purchase of the assets of the former Collegiate Church. There are nomially twelve Govemors or Trustees, of
which three represenl Sandford, to the present day.
The role of the Governors has evolved during this period. It is now principally the upkeep and maintenance of
Holy Cross Church, Crediton and the churchyard; the Chancel at St Martin's Church, Exminster- Ihe 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
without any endowment for Iheir 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 Ihe 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 Govemors elected by existing members with 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 Ihe 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 Review
General
In the year Ihe Governors continued their work of administering the Charity on behalf of the inhabitants 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 commilments, the Governors have tried to build up their free
reserves. This relates in particular, to th8 Unrestricted Fund, as shown in the statemant of financial position.
The balance of this fund at 31 December 2024 was £87.32912023: £67,001 >.

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Activitles and Revlew (continued)
L￿a¢l•S etc
The Governors invested into the Church Maintenance Fund. the legacy of £1,000 from the late Mrs F G Davie.
received in 2023 and also the funeral colleclion of £520 in respect of the late Jean Yuen.
In 2024, the Governors were very pleased to receive a further donation in memory of Jean Yuen from
members of the family, in the sum of £1,426.53.
Likewise, the Governors were very grateful for a legacy of £4,807.63, from the estate of the late Jean Cope.
The last two items will be invested in 2025.
Organ House
The Organ House continued to be lel to Mr Nick Trott. The rent is £175 per calendar month.
Crediton Dairy Ltd
The Govemors were delighted to be the beneficiary of charilable donations instituted by their neighbour,
Crediton Dairy Ltd. A total of £10,000 was received in amounts of £5,000, in respect of 2023 and ?.024.
Principal Expenditure
The main item of expenditure in 2024 was..
Churchyard maintenance - £5,700.30 nel (compared to £2,359.18 in 2023).
Churchyard maintenance at Holy Cross continues to be a major ongoing expense. In addition, in 2024, the
Governors replaced the flat roof of the store, adjoining the Organ House. With some incidental expenditure,
the cost was £2,685.00.
Restoration Committee
This is considered a subcommittee of the Governors and accountable to them. The Governors maintain a
significanl represenlation 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 £5,019.
Campaign Roof Appeal
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 th8 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 lo be in several phases over a number of years. The balance held by the
Restoration Committee as at 31 December 2024, for the roof appeal, was £311,997, including a donalion in
2019 of £50,000 from Kelly Trust (Creditonl.
Church House Endowment
As menlioned in earlier years, the COIF Investment Fund account in the name of the Organ Loan Repayment
Fund was Iransferred into a pennanent endowment in Ihe name of Church House Endowment Fund on 2
January 2014, better to reflect its origin. We were 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 2024 was £127,342. Income from the investment is treated as unrestricled income
as was the case with rents from Church House received in earlier years.
Changes to Personnel
Dr Stephen Miller was elected as a Governor on 9 July 2024. He will be one of the three representatives from
Sandford.
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 2024
Actlvllles and Review (Continued)
Additional Charities {3) admlnistered by the Governors (not in the 1993 Scheme).
The Govemors continued the administration of th8 thr86 Charilies, 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 altending Hayward Charity Scht)ol, Crediton. Grants paid in the year totalled
£46.00.
The Dunn & Thomas Foundation.. Regislered 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 assistsnce. Grants
made in the year totalled £470.00.
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 wilh 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.
Permanent 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 Ihe various
permanent endowments and designaled 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 inlo the 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 within 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 lo the proceeds

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Activities and Review (continued)
Permanent Endowments and Designated Funds {1993 Scheme)
As at 31 December 2024, the balances held in respect of the pemianent endowments within the 1993 Scheme
were: _
No.1
No.2
No.3
No.4
£668,579
£26,921
£233,786
£185,329
COIF Investment Fund
COIF Fixed Interest Fund
COIF Investment Fund {formerfy Exminster Capital)
Charles Stanley & Co Ltd Personal Portfolio (formerly Exminster Inccffle)
As at 31 December 2024. the balance held in respect of d8signaled funds within the 1993 scheme was..
No.2
£33,096
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 placed 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 Ihe 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 2024 and matters were kept under regular review. In
2024 it was again decided not to disturb exisling holdings within CCLA. Our investments perfomied very
much in line wilh Ihe market.
Financial Policy- ReseNes
Whilst the unrestricled balances have improved in recent years, the Governors are limited largely to the
income generated by our endowments etc, particularly wilhin the 1993 Scheme. Income cannot be increased
from these investments to any greal extent without increasing risk.
Financial Policy- Risks
Day to day risks are reduced as far as possible by ensuring Ihal three Governors sign all negotiable
instruments, 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 wilhdrawals 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). There is a further Governor on the
committee. Prior approval of the Governors is required for payments over an agreed discretionary limit. It is
fell by the Governors that some authority should be delegated to this committee and its officers, as they are
instrumental 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 insurance.

CHURCH CORPORATION TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of Trustees, Responsibllltles
The trustees are responsible for preparing Ihe 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 statemenls for
each financial year which give a Irue 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 stalements the trustees are required to:
select suitable accounting policies and then apply Ihem consistently.,
observe the methods and principles in the Charilies SORP,.
make judgements and estimales 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 operalion.
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 statemenls comply with the Charities Act 2011 and the
Charily (Accounts and Reporls) Regulations 2008. They are also responsible for safeguarding the assets of
the charily and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
This report was approved by the Governors on .
!sl.io.las.
and signed on their behalf by:
A A White
. IUAxNkL
H M Parker

CHURCH CORPORATION TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
I report to the trustees on my examination of the accounts of Church Corporation Trust for the year ended
31 December 2024.
Responsibillties and basis of r8POrt
As the charity Irustees of Church Corporation Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(b) ofthe Acl.
Independent examinerfs statement
I have completed my examination. I confinn that no material matters have come to my attention in connection
wilh the examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the charity as required by section 130 of the Act: or
the accounts do not accord with those records- or
the accounts do not comply with the applicable requirements conceming the fomi and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a Irue and fair, view which is not a matter considered as part of
an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo which
attenlion should be drawn in this report 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
Honilon
Devon
EX14 1BJ
Date: 11 I lol

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CHURCH CORPORATION TRUST
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
Notes
2024
2023
Fixed assets
Investments
14
2,015,444
1,942,255
Current assets
Debtors due within one year
Stock
Cash at bank and in hand
15
15,361
10,694
150 221
176,276
9,854
10,689
127 645
148,188
16
Creditors: amounts falling due
withln one year
17
Net current assets
135 781
Total assets less
current liabilities
2 151 225
2 059 797
Expendable Endowment funds
Unreslricted funds
Designated funds
Restricted funds
Permanent Endowment funds
19
20
21
22
23
98,886
87,329
169,549
366,251
1429 210
91,228
67,001
163,969
339,944
1397 655
18
2 151225
2 059 797
Approved by the Governors on .
and signed on their behalf by-
H M Parker
10

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. Principal accounting policies
General Informatlon
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. EX17 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 Praclice
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.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modif18d by the revaluation of
certain financial assets and liabilities and investment 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 frcm the requirement to produ￿ 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 expectstions of future events that are believed to
be reasonable under the circumstances.
Income
Investment income represents the interest arising on deposits and dividends received. This income has been
included on an accruals basis.
Donations represent the amounts actually received 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
Expendilure 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.
Governance costs comprise all costs incurred in running the charity itself as an organisation.

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. Principal accounting policies {continued)
Irrecoverable VAT
Irrecoverable VAT is included in the cost of the items reported in the financial slatements.
Taxation
Under section 505 Income and Corporation Taxes Act 1988 the Charily is exempt from income tax and
capital gains tax.
Funds accounting
Unrestricted funds
These comprise those funds which the Governors are free to us@ in accordance with the Charity's objectives.
Restricted funds
Restricted funds represent those funds that can only be used for particular purposes within the objeds of the
charity. Restrictions arise when specified by the donor or when funds are raised for 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 nole 19.
Pemianent @ndowment 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 permanenl endowment
without the commission's authority. The terms of the endowment may permit assets within the fund lo 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 relevanl cosl information is not available and
conventional valuation approaches lack sufficienl reliability. Details of the inalienable and historic assets
have been disclosed in nole 13.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a paty to the contractual
provisions of the instrument.
Basic financial inslruments are initially recognis8d at the amount receivable or payable including any related
transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the
present value of the future payments discounted at a market rate of interest for a similar debl instrument.
Current assets and current liabililies 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 otherwise be
measured reliably, Ihe 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.
12

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2. Investment income
Total
Funds
2024
Total
Funds
2023
Unrestricted Endowment Restricted
Funds
Funds
Funds
Permanent Endowment income
1993 Scheme (note 25)
Permanent Endowment income
Restoration interest
Other interest
Tax refund
32,645
5,515
12,482
32,645
13.153
12,482
2,310
31,240
12,931
10,885
1,639
7,638
2,310
3. Donations and legacles
Total
Funds
2024
Totsl
Funds
2023
Unrestricted Endowment Restricted
Funds
Funds
Funds
Restoration fundraising
Other
Legacies
11,426
3,477
14,903
3,222
4. Festival income
Total
Funds
2024
Total
Funds
2023
Unrestricted Endowment Restricted
Funds
Funds
Funds
Annual summer festival
Christmas tree festival
1.678
1,678
5. Other income
Total
Funds
2024
Total
Funds
2023
Unrestricted Endowrnent Restricted
Funds
Funds
Funds
Rent received
Wayleave received
Administralion charge for
3 administered charities
Sundry receipts
2,100
2.100
27
1,582
27
27
225
225
225
535
6. Cost of other trading activities
Total
Funds
2024
Totsl
Funds
2023
Unrestricted Endowment Restricted
Funds
Funds
Funds
Cost of shop sales
Fundraising Costs
Festival expenses:
Annual summer festival
Christmas tree festival
1,615
1,615
1,896
1.059
1,059
13

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7. Grants payable
Total
Funds
2024
Total
Funds
2023
Unrestricted Endowment Restricted
Funds
Funds
Funds
QECC (Exhibition Foundalion)
Tuckfield United Schools
PCC Credilon
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 Exminster
Reclor of Sandford
Posbury
Bodley and Elston
St Boniface, Knowle
1,423
1,423
1,553
418
292
292
338
73
176
33
33
400
200
250
200
33
33
400
200
250
200
36
36
400
200
250
200
102
2,873
8. Support costs
Total
Funds
2024
Total
Funds
2023
Unrestricted Endowment Restricted
Funds
Funds
Funds
Rent
Insurance
Churchyard and car park
St Lawrence
Church repairs
Organ refurbishmenvrepairs
Exminster Glebe
Church fabric
Heritage Project
Organ House roof repairs
18,929
6,417
18,929
6.417
378
1,087
320
75
2,821
17,555
2.886
378
1.087
337
160
75
483
3,650
320
75
2.821
During the year the charity paid £31912023.. £3191 for Trustee Indemnity Insurance.
14

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED 31 DECEMBER 2024
9. Governance costs
Total
Funds
2024
Total
Funds
2023
Unrestrfcted Endowment Restricted
Funds
Funds
Funds
Clerk to Governors
Accountancy
Payroll costs
Prof8ssional f88s
Sundry expenses
Bank charges
Advertising
1,131
4,616
156
1,131
4,616
156
1,367
3,924
197
175
105
66
69
75
53
122
75
No employee {2023: none) received emoluments over £60,000 in the year.
10. Accountancy fees
2024
2023
Independent examination
Accounlancy
Olher
2,058
2,558
1,962
1,962
11. Trustees, remuneration and expenses
Trustees received no remuneration (2023: £nil) and were not reimbursed for any of their expenses in the year
(2023: £nil).

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CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13. Fixed assets
The Charity owns the following assets which are not included in the balance 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 Boniface Church, Knowle, near Copplestone. Crediton.
St Lawrence Chapel, Threshers, Crediton.
All of the churches are maintained to a good standard by the charity and are current places of worship.
The Charily 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
2024
2023
Analysis of change in investments during year
Valuation at 1 January
Additions
Disposal proceeds
Net gainsl{losses)
Valuation at 31 December
1,942,255
31,530
1,800,349
4,500
137 406
15. Debtors due within one year
2024
2023
Gift aid and tax reclaimable
Interest receivable
Shop takings
Other debtors
1.064
297
1,104
16. Cash at bank and in hand
2024
2023
Natwest Bank - Current Account
Natwest Bank - Business Reserve Account
CBF Church of England - Deposit Fund Accounl
Natwest Bank - re Restoration Committee Current Account
Natwest Bank - re Restoralion Commiltee Deposit Account
Cash in hand - re Restoration Committee
6,000
91,677
25,000
5,493
22,051
11,955)
67,365
25,000
37,124
111
17. Creditors
2024
2023
Money held by the Governors and owed to charities
administered by them (note 24)
Monies due in line with th8 1993 scheme (note 26)
Other creditors
Accruals
16,241
16,018
4,120
12,495
13,789
438
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CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMEbrrs
FOR THE YEAR ENDED 31 DECEMBER 2024
24. Charltles administered by the Governors (not in the 1993 Scheme)
Benjamin Wood Cleave {Charity Reg. No. 254009)
2024
2023
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
1,774
1.749
75
1,699
75
1,674
3,138
7,118
Money held by governors (see below)
COIF inveslment
Assets held at 31 December
7,267
5,568
Benjamin Cleave re. Haywards (Charity Reg. No. 3067611
2024
2023
Investment income
Grants paid
Adminislralion charge
Net incoming resources
Gainl(loss)on investments
Net movement in funds
Balance at 1 January
Balance at 31 December
1,174
146)
75
1,053
953
2,006
1,158
75
1.083
4.686
Money held by govemors {see below)
COIF investment
Assets held at 31 December
4,154
3,101
Dunn & Thomas Foundation (Charity Reg. No. 306655)
2024
2023
Investment income
Grants paid
Administration charge
Net incomlng resources
Gainl(loss) on investments
Net movement in funds
Balance at 1 January
Balance at 31 December
1,539
(470)
75
994
1,518
{220)
1,223
2,243
5,948
Money held by govemors (see below)
COIF investment
Assets held at 31 December
4,820
3,826
2024
2023
Total monles held by the govemors and owed to charitles
administered by them (note 17>
23

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
25. Share of permanent endowment Income under 1993 scheme
2024
2023
Endowment Income
Less:
Insurance
Crediton repair fund
Exminsler repair fund
Clerk's honorarium
Clerk's expenses
Accountancy and examination
32,645
31,240
{18,929)
{3,200)
(800)
{1.117)
(170)
(17,555)
(3,200)
(800)
(1,367)
(197)
Balance to be distributed
7120th to Crediton Educational
Foundation (QECC)
1,423
1,553
13120. Divided
5 % Relief in need.. Crediton
Exminster
Sandford
66
33
33
72
36
36
132
144
Vicar of Crediton
Assistant Clergy
Rector of Exminsler
Rector of Sandford
400
200
250
200
400
200
250
20
1,050
1,050
800/0 Balance for Crediton
20 % Balance for Exminster
1,168
292
1,352
338
24

CHURCH CORPORATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
26. Creditors due in Ilne wlth the 1993 Scheme
2024
2023
Crediton Educational Foundation (QECC) 2021 bal
2022
2023
2023
2024
28
1,891
{2,028)
1,553
28
1,891
(2,028)
1.553
2,867
Relief in need
Exminster
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022 bal
2023
2024
71
60
57
47
59
48
41
44
36
36
33
76
645
- Sandford
2021
2022
2023
2024
44
36
36
33
167
20% Balan￿ for Exminster
2016 bal
2017
2018
2019
2020
2021
2022
2023
2024
65
634
407
336
321
608
457
338
292
65
634
407
336
321
608
457
338
3,458
3,166
Diocese re Clergy Stipends
2016
2017
2018
2019
2020
2021
2022
2023
2024
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
1,050
1,050
25