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← Cornwall Partnership Foundation Trust Charitable Fund

2025-03-31-accounts

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Charitable Fund Annual report and accounts

2024-25

Contents

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Foreword 3
Introduction 4
Charity rebrand 5
The charitable fund 6
The trustees 7
Structure, administration and management 8
Bankers 8
Risk management 9
Partnership working and networks 9
Registered address 9
Independent examiners 9
The funds 10
Financial position 12
Incoming resources 13
Charitable activities 14
Raising funds expenditure 17
Support costs 17
18
Public benefit
Reserves policy 18
Grant making policy 18
Grants received 18
League of Friends’ grants received by corporate trustee 19
Investments policy 21
Investments 22
Fundraising report 2024-25 23
Trustees’ responsibilities in relation to the financial statements 27
Statement of financial activities for the year ending 31 March 2025 28
Statement of financial position as at 31 March 2025 29
Statement of cash flows for the year ending 31 March 2025 30
Notes to the accounts 31
Independent examiner’s report on the accounts 48
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Charitable Fund Annual Report and Accounts 2024-25

2

Foreword

The corporate trustee presents the charitable funds annual report together with the independently examined financial statements for the year ending 31 March 2025.

The charity’s annual report and accounts for the year ending 31 March 2025 have been prepared in accordance with Part 8 of the Charities Act 2011 and the Accounting and Reporting: 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). The charity’s report and accounts include all the linked charities for which Cornwall Partnership Foundation Trust Charitable Fund is the reporting charity.

The charitable funds are registered with the Charity Commission (No 1058366) in accordance with the Charities Act 2011.

Charitable Fund Annual Report and Accounts 2024-25

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Introduction

I am pleased to present the Annual Report and Accounts for the Cornwall Partnership Foundation Trust Charitable Fund for the year ending 31 March 2025.

As a charity we currently have 42 funds, some of which are split into a range of sub funds, reflecting the diversity of services that Cornwall Partnership NHS Foundation Trust provides.

The net assets of the charity are £1,790,364 (31 March 2024: £1,534,265). Incoming resources for 2024-25 were £391,572 (2023-24: £172,001) and expenditure for the year has been £135,473 (2023-24: £52,841). Income and expenditure are described in more detail later in this report.

As a charity, we have successfully facilitated a diverse range of grants across hospitals, wards, and the broader services provided by the Trust. Our efforts have led to improved environments, funding initiatives that range from art workshops to plants and gardening, from good practice seminars for staff development to furniture for patient comfort.

This year, grants also include funding for staff training and development, covering expenses for attending conferences and good practice seminars, as well as support for team-building and health and wellbeing events.

Our inclusive approach to grant facilitation ensures that all voices are heard, allowing us to address the unique needs of our diverse staff and patient population. These initiatives foster a healthier and more cohesive work environment, which directly benefits patient care, for healthy staff lead to healthier patients. You can explore numerous examples of these grants later in this report.

We are also excited to announce our rebranding, complete with a fresh new logo that reflects our commitment to innovation and inclusivity. This rebranding aligns with our mission to enhance the services provided by the Trust and engage more effectively with our community.

Additionally, we are fortunate to collaborate with other exceptional charities that support the NHS services offered by the Trust. Our community hospitals are bolstered by an amazing network of League of Friends’ charities, which actively engage in fundraising to secure grants for their local hospitals. These funds are essential for acquiring medical equipment and enhancing various patient facilities.

The contributions from League of Friends’ charities are of immense value to the Trust. More details on the support received from these charities across the county can be found on pages 19 onwards.

Charitable Fund Annual Report and Accounts 2024-25

4

In closing, I want to extend my heartfelt thanks to everyone for their ongoing support. Communities and individuals have raised funds through countless creative means, such as open garden events, Rachel walking 400 miles in 4 weeks, and Eleanor's half marathon, to name but a few (more details can be found on pages 23 to 26). The dedication of individuals, groups, and communities to improving the lives of others is both uplifting and inspiring.

Others have made generous donations or left legacies in their wills, while local businesses and community groups have stepped up to enhance the services provided by the Trust.

A massive thank you to all those who work tirelessly to make this happen. On behalf of the charity and those cared for by the Trust, thank you for all that you do.

Dean Harvey, Chair of the Charitable Fund Committee

Charity rebrand

We are excited to launch our new working name, Cornwall Community NHS Charity. We changed our working name in 2025, to reflect who we are, what we do, and where we do it. We hope this updated and more inclusive brand will help invigorate the charity and make it more accessible, marketable, and recognisable as an NHS charity and not a provision of NHS funding.

This rebrand has been part of a wider charity development project to be more impactful, effective, and higher performing to better serve our beneficiaries, donors and fund-raisers, and is complemented by the tag-line 'enriching health together' and a new logo which visually represents Cornwall as well as our core values of community, connection and care.

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This charity development work was made possible thanks to a £30,000 development grant from NHS Charities Together, enabling us for the first time in our history to invest in fundraising, systems, and communications, branding and marketing to take Cornwall Partnership Foundation Trust Charitable Fund to the next level. We would like to take this opportunity to thank everyone involved in our branding workshops through Autumn 2024, featuring a diverse range of valuable contributions from staff across Cornwall Partnership NHS Foundation Trust and beyond.

The charity’s formal registered name “Cornwall Partnership Foundation Trust Charitable Fund” is unchanged.

Charitable Fund Annual Report and Accounts 2024-25

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The charitable fund

The Cornwall Partnership Foundation Trust Charitable Fund (Registration No. 1058366) is the reporting charity for:

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1
1 18 22
permanent
unrestricted fund designated funds restricted funds
endowment fund
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They are all governed by a model declaration of trust for an NHS special purpose charity. The definitions of these different types of funds are as follows.

Unrestricted funds

These are sometimes called general funds. These may be spent at the discretion of the trustees on the charity objectives. Additionally, unrestricted funds may be designated at the discretion of the trustees. Such monies are earmarked for a specific purpose, such as a named hospital ward, particular service or project. Designated funds can also be undesignated at the discretion of the Trustees.

Restricted funds

Also known as special funds these can only be used in accordance with restrictions imposed when the funds are donated or granted or raised by the charity. For example, for a particular hospital or the purchase or maintenance of equipment or facility.

Endowment funds

These are donated funds, usually as a result of a legacy, where the trustees are not allowed to spend the capital element of the donation. The money is held permanently and invested to earn income that in turn can be spent.

Charitable Fund Annual Report and Accounts 2024-25

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The trustees

The trustees are a corporate body (Cornwall Partnership NHS Foundation Trust) and consist of the members of the Board.

In the year ended 31 March 2025, the Board members are listed below.

Executive directors

Non-executive directors

In the year ended 31 March 2025, the Charitable Fund Committee consisted of the following:

Representatives from the Cornwall League of Friends Association also attend but are non-voting members.

Charitable Fund Annual Report and Accounts 2024-25

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Structure, administration and management

The corporate trustee fulfils its legal duty by ensuring that donations and grants received are added to the appropriate fund balance in accordance with the donor’s wishes and that spending of funds is in accordance with the purpose for each fund.

Charitable fund expenditure can be for any charitable purpose relating to the NHS but in the case of the restricted funds, expenditure is limited to the location or service for which the fund was set up. Some of the restricted funds also have special conditions imposed on them. There is one permanent endowment fund for which only the cumulative interest can be spent.

The detailed objects for each fund can be found on the Charity Commission website under the linked charities section of the Cornwall Partnership Foundation Trust charity details.

Non-executive members of the Trust Board are appointed by the governors, and executive members of the Board are appointed by the Foundation Trust Board. Members of the Trust Board and the Charitable Fund Committee are not individual trustees under charity law but act as agents on behalf of the corporate trustee.

The Board as corporate trustee has delegated overall management and responsibility of the charitable fund to the Charitable Fund Committee.

The committee is required to:

The accounting records and the day-to-day administration of the funds are managed by the Cornwall Partnership NHS Foundation Trust’s Finance Department.

Bankers

Banking facilities are provided by Lloyds Bank Plc.

Charitable Fund Annual Report and Accounts 2024-25

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Risk management

The major risks to which the charity is exposed have been identified and considered. The Charitable Fund Committee has a policy of placing deposits only with specialist charity sector financial institutions or those that meet a strict criteria of risk ratings as assessed by the credit rating agencies. Currently these are the Charities Aid Foundation), CCLA Investment Management Ltd and the Nationwide Building Society. In addition, maximum use is made of the £85,000 covered under the Financial Services Compensation Scheme so that in the event of banking insolvency losses are minimised. The trustees have taken a risk averse approach to investment. The risk management associated with this is in the investment policy section.

All funds are checked before a payment is made to ensure that there is money available to meet expenditure. Fund balances, income and expenditure statements are sent to fund holders monthly. The committee is presented with a statement of income, expenditure, and fund balances at every committee meeting for assurance. The committee is also required to approve any expenditure which is over £1,500. All minutes relating to the Charitable Fund Committee are included within Trust board papers.

The charity also has a comprehensive set of management guidelines which are reviewed on an annual basis. These empower fund holders to better understand public benefit and to be able to use their funds effectively.

Partnership working and networks

The beneficiaries of the charity are the inpatient and community-based service users of Cornwall Partnership NHS Foundation Trust.

Cornwall Partnership NHS Foundation Trust is a related party by virtue of being the corporate trustee of the charity. By working in partnership with the Cornwall Partnership NHS Foundation Trust, charitable funds are used for the public benefit.

The charitable fund has a close working relationship with the League of Friends. We are very grateful for the work they do in supporting the patients and staff at the Trust’s hospitals and community services.

Registered address

The charity’s registered address is Cornwall Partnership Foundation Trust Charitable Fund, Carew House, Beacon Technology Park, Dunmere Road, Bodmin, PL31 2QN.

Independent examiners

ASW Assurance of Whitefriars (Level 3), Lewins Mead, Bristol, BS1 2NT independently examine the charity’s annual report and accounts.

Charitable Fund Annual Report and Accounts 2024-25

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The funds

The charity currently holds a range of different funds to support our hospitals and services. These are grouped into 1 unrestricted fund, 18 designated funds, 22 restricted funds, and 1 permanent endowment fund. A list of funds is as follows.

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Name of fund Unrestricted Restricted Permanent
or designated endowment
General •
Adult community services research training •
and development
Children’s Epilepsy Nursing Tea •
CC&D Community Services •
COVID-19 appeal •
Early intervention social inclusion •
Eating Disorder Service •
Learning disabilities development •
Learning Disability Advisory Group •
Mental health general •
NHS Charities Together (3 funds) •
Special parenting •
St Mary’s Community Hospital •
Stroke and Neurological Service •
Trevillis •
Volunteers in Partnership •
West Cornwall CAMHS Team • •
Bodmin Community Hospital general •
Bodmin Community Hospital mental health •
Bolitho House •
Camborne Redruth Community Hospital •
Children’s services •
Cornwall community teams •
Day Centres •
Dementia Inpatients Fund •
Edward Hain Community Hospital (inactive) •
Falmouth Community Hospital •
Fowey Community Hospital •
Helston Community Hospital •
Launceston Community Hospital •
Liskeard Community Hospital •
Longreach House •
Newquay Community Hospital •
St Austell Community Hospital •
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Charitable Fund Annual Report and Accounts 2024-25

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Name of fund Unrestricted
or designated		 Restricted Permanent
endowment
St Barnabas CommunityHospital •
Stratton CommunityHospital •
Supported Domestic Housing •
Trengweath Fund •
Sowenna Fund •
AllsupBequest •

The larger community hospitals such as Bodmin, Camborne Redruth and St Austell have a number of sub-funds. These represent the different wards and services within the site. The Cornwall community teams fund consists of sub-funds representing community teams across the county. A breakdown of the financial position on each fund is set out in note 21 of the charitable fund’s accounts.

Charitable Fund Annual Report and Accounts 2024-25

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Financial position

The net assets of the charitable fund on 31 March 2025 are £1,790,364 (2023-24: £1,534,265). A summary of the assets and liabilities of the charity is shown in the table below.

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Description 31 March 31 March
2025 2024
£’000 £’000
Fixed asset investments 62 64
Current assets 1,765 1,505
Current liabilities (37) (35)
Total net assets 1,790 1,534
Unrestricted funds 434 284
Restricted funds 1,344 1,238
Endowment funds 12 12
Total funds 1,790 1,534
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Fixed asset investments are quoted on the stock market and a summary of these can be found in the investments section of this report. Current assets represent cash held in our current account, on deposit and money that the charity is owed. Current liabilities are money that the charity owes. For definitions of the different type of funds, go to page 6.

The table below shows the movement in the charitable funds balance over the financial year.

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Charity movement in funds 2024-25 Status £’000
Opening balance Total 1,534
Donations and legacies Increase 132
Fundraising and other income Increase 260
Expenditure Decrease (107)
Fund-raiser and support costs Decrease (28)
Net gains/(losses) on investments Decrease (1)
Closing balance Total 1,790
260
1,790
1,534 132 (107) (28) (0)
Opening Donations Fundraising and Fund-raiser and Net gains/(losses) Closing
Expenditure
balance and legacies other income support costs on investments balance
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An analysis of income and expenditure for the year is given in the next section.

Charitable Fund Annual Report and Accounts 2024-25

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Incoming resources

Total income for the year is £393,119 excluding unrealised gains on investments (2023-24: £162,568). All sites and services across the Trust have benefited from charitable giving in support of our services. Some fantastic examples are:

The table below summarises income for this financial year. Data going back to 2015 is provided for comparison purposes. Further detail on grant income received is provided below.

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Income from 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Fundraising and 1 9 2 8 176 250 196 39 4 54 204
grants
• Donations 103 128 54 44 39 38 87 51 23 59 51
• Legacies 270 47 102 280 2 394 50 0 2 7 82
• Investment income 7 3 9 3 8 4 1 0 8 43 53
• Other income 1 5 186 4 4 5 2 0 1 0 3
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Charitable Fund Annual Report and Accounts 2024-25

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Charitable activities

Charitable activities comprise all the costs incurred in the pursuit of the charitable objectives of the charity. In 2024-25 this was £107,802 (2023-24: £28,882). These figures and those below exclude support costs which are apportioned across all funds . Expenditure funded by charitable fund is split into 5 categories. This is summarised in the sections and the table on page 16.

Build and refurbishments

Expenditure in 2024-25 was £2,178 (2023-24: £0).

Expenditure in this category contributes towards the improvement of facilities for staff and patients. Examples of funded expenditure in year include:

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Patient facilities and welfare

A wide variety of expenditure from charitable funds fall under this category which has supported a range of activities and facilities for patients. Expenditure in 2024-25 was £11,460 (2023-24: £11,017).

Examples of patient welfare expenditure at Sowenna include:

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Examples from other Trust services include:

Charitable Fund Annual Report and Accounts 2024-25

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Staff training, support and welfare

Expenditure funded from charitable funds in 2024-25 was £45,311 (202324: £4,294).

This expenditure includes support for staff to enhance their skills through training, attendance at conferences or good practice seminars, which in turn have a direct benefit on the treatment of patients. Team building and health and wellbeing events designed by teams and training resources are also funded within this category. Social events to thank our volunteer teams for all their hard work during the year have also been funded.

Equipment

Expenditure funded for equipment in 2024-25 was £48,853 (2023-24: £13,571). This category emphasises the extent to which charitable funds are being invested in equipment and facilities to support the delivery of healthcare and improve the wellbeing of staff and patients. Items funded in year across our services include:

Charitable Fund Annual Report and Accounts 2024-25

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Charitable activity 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Build and 5 14 229 32 1 25 79 51 1 0 2
refurbishment
• Patient facilities and 60 29 23 12 50 9 22 15 12 11 11
welfare
• Staff support 11 9 9 12 33 9 74 4 2 4 45
• Equipment 107 104 64 37 35 96 39 43 18 14 49
• Research 0 0 0 0 0 0 22 0 0 0 0
• Other expenditure 0 0 1 0 0 0 0 0 0 0 0
• Fund raising 0 0 0 0 97 90 0 1 0 0 0
• Support costs 21 21 15 13 16 18 21 22 22 24 28
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Raising funds expenditure

Active fundraising activity takes place. However, it is not possible to reliably identify costs that should exclusively be identified and charged to charitable funds apart from some minor nonpay costs. The charitable fund also benefits from in-kind resource provided by a Trust employed fundraising manager.

Although some of the funds are used to carry out fundraising events, this is done on a voluntary basis and does not give rise to any associated costs.

Support costs

Total support costs for 2024-25 is £27,671 (2023-24: £23,960). This includes costs for the running of the charity plus other professional fees. A detailed breakdown of these costs is included in note 11 to the accounts.

NHS Charities are by statute required to reimburse their corporate trustee for the cost of running the charity so that it is not subsidised from public funds. Cornwall Partnership Foundation Trust Charitable Fund does not employ any staff directly so £22,826 (2023-24: £20,770) represents a recharge for the time that the Trust’s own staff spend on the governance and administration of the charity.

In accordance with Charity Commission guidelines support costs are apportioned across the charitable activities and charged to funds based on their balance at the end of the financial year. This method is used rather than activity apportionment because the trustees consider it is a more equitable treatment. It avoids disadvantaging those funds with high volume, low value transactions.

The Trust will continue to review the level of support costs to ensure that costs charged are reasonable, fairly represent the level of resource dedicated to charitable fund administration, and financial services. The table below shows historic support costs.

Description 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Support costs 21 21 15 13 16 18 21 22 22 24 28

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Charitable Fund Annual Report and Accounts 2024-25

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Public benefit

All charities must demonstrate how funds are used for the public benefit. Cornwall Partnership Foundation Trust Charitable Fund uses its funds to purchase equipment, sustain patient wellbeing, and support staff development. All these activities directly or indirectly benefit members of the public. The fund expenditure also falls within the charitable purposes as set out in the governing document

Reserves policy

As recommended in the Charity Commission Guidance CC19, the trustees set a reserves policy that is reviewed on an annual basis. The funds are held in the management of Cornwall Partnership Foundation Trust Charitable Fund. Where historical funds are held, every effort is made to draw up expenditure plans to further the charity’s objectives.

The policy states that:

The trustees require the chief finance officer to report the balances on individual funds at each committee meeting.

Grant making policy

The charity’s principal activity is supporting its corporate trustee in the delivery of healthcare. The charity achieves this aim by making grants from both restricted and unrestricted funds. These grants fulfil the public benefit criteria and meet the objective for the fund from which the grant is being made. The categories of expenditure funded from these grants and some specific examples are described in the charitable activities section on page 14.

Grants received

Included within income classified as grants received in year are grants gratefully received from NHS Charities Together. A further 2 instalments of £19,250 have been received as part of the funding agreed for projects to address the long-term health and recovery of NHS staff, patients and volunteers impacted by COVID-19. Grant instalments of £82,000 and £65,500 have also been received as a result of the Charitable Fund’s successful bid to the NHS Charities Together Greener Communities fund.

Charitable Fund Annual Report and Accounts 2024-25

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League of Friends’ grants received by corporate trustee

Our community hospitals are supported by a thriving and hard-working network of League of Friends. The League of Friends tirelessly fund raise to help support the delivery of healthcare through the purchase of up-to-date medical equipment and other patient facilities. Their contribution is greatly appreciated.

Where an equipment grant from the League of Friends is agreed the equipment is purchased by the corporate trustee and then the Trust invoices the League of Friends for their grant. This is reflected as grant funded income in the annual accounts of the corporate trustee. A summary of the grants gratefully received from League of Friends’ charities is provided in the table below.

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Donating League of Friends Amount (£)
Bodmin Hospital League of Friends 4,916
Guild of Friends Camborne Redruth Community Hospital 10,400
League of Friends of Stratton Hospital 10,434
The League of Friends of St Austell Hospital and Community 8,991
The League of Friends of Launceston Hospital and Community 15,443
The League of Friends of the Falmouth Hospitals 2,560
The League of Friends of the Helston Community Hospital 819
Friends of the Newquay and District Hospital 11,472
Total 65,034
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A summary of some of the key items purchased from these grants is summarised below.

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Bodmin Hospital League of Friends Amount (£)
Raizer 2 emergency lifting chair 3,496
Table tennis table for Harvest Ward 830
Guild of Friends Camborne Redruth Community Hospital Amount (£)
Funding towards Café 75 10,400
League of Friends of Stratton Hospital Amount (£)
Medicare doppler 2,350
Drug cabinet 1,260
2 dynamic Artemis II mattresses 3,798
Rea Azalea wheelchair 1,276
The League of Friends of St Austell Hospital and Community Amount (£)
2 Mindray vital signs monitors 2,879
2 Medicare 2 section couches 2,058
TV and entertainment equipment for Heligan Ward 1,027
Roho cushions 2,148
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Charitable Fund Annual Report and Accounts 2024-25

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The League of Friends of Launceston Hospital and Community Amount(£)
Bladder scanner 5,600
ECG recorder 2,909
Mobile electrical hoist and accessories 3,014
Dynamic mattress, pumpand accessories 2,750
The League of Friends of the Falmouth Hospitals Amount(£)
Boston electric recliningchair 1,866
Titan chairs 694
The League of Friends of the Helston Community Hospital Amount(£)
Taurus walker 819
Friends of the Newquay and District Hospital Amount(£)
2 bladder scanners 11,200

In addition to the above there are also grants from League of Friends that are received direct into the charitable fund such as for patients Christmas presents. The charitable fund is particularly grateful for the League of Friends funded Christmas presents. These are always well received by patients who have to spend their Christmas as an inpatient.

Charitable Fund Annual Report and Accounts 2024-25

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Investments policy

In accordance with Charity Commission Guidance CC14 the trustees set an investment policy. This is reviewed on an annual basis. The principles of the Cornwall Partnership Foundation Trust Charitable Fund investment policy are below.

Investment funds will be selected that have responsible investment policies. Tobacco related investments will be specifically prohibited.

Charitable Fund Annual Report and Accounts 2024-25

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Investments

The charitable fund invested £18,000 in March of 2011, placing:

At the beginning of 2013-14 the funds were each increased by a further £2,000. In accordance with the charity’s investment policy, these have been kept continuously under review and the fund performance reported at each committee meeting. A summary of the investments on 31 March 2025 is below.

Fund Amount
of original
investment
(£)		 Total
number
of units
currently
held		 Price as
of 31
March
2025
(£)		 Valuation
as of 31
March
2025
(£)		 Valuation
as of 31
March
2024
(£)		 Valuation
change
since 31
March
2024
(%)		 Valuation
change
overall
(%)		 Unrealised
gain or
loss 1
April
2024 to
31 March
2025
COIF Charities
Global Equity
Income Fund
accumulation		 11,000.00 7,289.13 5.55 40,427.70 42,045.16 (3.85) 267.52 (1,617.46)
CT responsible
UK Income Fund
2 Inc		 11,000.00 11,845.07 1.86 22,008.14 21,937.07 0.32 100.07 71.07
Totals 22,000.00 62,435.84 63,982.23 (1,546.39)

Charitable Fund Annual Report and Accounts 2024-25

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Fundraising report 2024-25

The fundraising function within Cornwall Partnership NHS Foundation Trust is offering widespread support and guidance to charitable fund holders and teams throughout the organisation, and to our inspirational fund-raisers.

Our staff and their patients are increasingly benefiting from charitable funds, and engaging in team activities to raise funds to enhance the environments they work and deliver care in.

Community and events

We celebrated Sowenna’s fifth anniversary in September 2024 and community support for our child and adolescent mental health unit continues to grow. We are very grateful that the Sowenna Charitable Fund was selected as 1 of 3 local charities chosen to benefit from funds raised at Tregothnan Estate’s 2024 open garden weekend, their first event in 5 years, after which we received a donation of £20,000 from Lord Falmouth.

Sowenna are also grateful to The Wheels Committee for donating £1,500 after The Rotary Club of Wadebridge Wheels 24 Classic Car Rally distributing thousands to local good causes, and to the Rotary Club of Redruth for their donation of £200 following a presentation from the charity.

In other funds, the Diana Children’s Community Nursing Team received a donation of £750 from the organisers of the Alstock Music Festival in Bodmin, the Rotary Club of Padstow donated £1,000 to Thriving Together which has placed in our charitable fund for the Special Parenting service, and the members of the Boldventure and Chapelfields Residents Association donated £450 to St Austell Community Hospital’s General Fund. We are honoured to have been chosen as a worthy cause by many local community groups and event organisers.

Individual giving

We never cease to be amazed by the generosity of the public in wanting to improve the services, treatment, and support that we can provide for our patients. This year we have been fortunate enough to receive multiple donations from generous individuals; including £200 from a patient who attended Liskeard Hospital and wanted to give something back to Oak Ward, £85 for Lanyon (now named Rosewarne) at Camborne Redruth Community Hospital, £100 for Harold White Ward, £1,000 to Stratton Community Hospital, and £5,000 to the St Austell Community Hospital General Fund, from a gentleman in gratitude for his mother’s end of life care experience.

Thank you so much to everyone who got in touch with us this year wishing to generously donate to our various charitable funds.

Charitable Fund Annual Report and Accounts 2024-25

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NHS Charities Together

Our membership with NHS Charities Together has presented many exciting funding opportunities and we are very grateful for their extensive support in recent years. We have continued to deliver projects addressing health inequalities; promoting equality, diversity, and inclusion; supporting the wellbeing and resilience of our people through the development of staff equality networks; enhancing outdoor spaces and breakout areas; and improving access to nature for all.

On top of this, in April 2024 we were thrilled to learn that our application to the Greener Communities Fund, managed by NHS Charities Together in partnership with Starbucks and Hubbub was successful, granting us £164,000 towards developing a dedicated Healing by Nature site on the land adjacent to our Trust-owned community mental health team base Trevillis House in Liskeard.

Additionally in support of this inspiring project, we have secured a £5,000 Workplace Travel Grant from Cornwall Council to install a bike shelter making it easier for patients, partners and staff to cycle to work and appointments improving access to Healing by Nature, and £4,920 from Active Cornwall’s Live Longer Better programme towards installing green gym equipment at the site, so we can offer a variety of exercise options for all abilities, equally valuing the mental health and physical health of all beneficiaries of this community space. Weekly camp-fire catchup groups for people with complex emotional difficulties are well attended in all weathers and membership is growing.

Trust fundraising

We are incredibly grateful to the Trustees of the Green Hall Foundation for contributing £3,000 towards improving the patient gardens at Fettle Ward in Bodmin, and The Card Factory Foundation who granted Sowenna a Local Community Fund award of £5,000 this year as part of nominations made by Card Factory PLC colleagues.

Shining the Spotlight on our Fundraising Heroes

We were so inspired when we heard the journey of Rachel Jonas who in May 2024 walked 400 miles in 4 weeks along the Portuguese Camino de Santiago to fund raise for the Sowenna Charitable Fund, raising over £2,200; an extraordinary effort!

A huge thank you to Eleanor Dennis who smashed her fundraising target of £150, raising £1,000 for the Children and Young People’s Eating Disorders Service by running the Principality Cardiff Half Marathon in October 2024.

William Bell took part in the challenging Atlantic Coast Ultra 40 Miler in October 2024, running from Fistral Beach in Newquay, following the stunning coastline all the way to Hayle River Mouth, finishing at St Ives Bay Holiday Park and raising an amazing £800 for the Sowenna Charitable Fund.

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And, to celebrate St Piran’s Day 2025, Camelford Up and Running group attempted to visit every square on the Cornish Monopoly Board in 24 hours, travelling 315 miles by minibus, and accumulating over 20 miles of running raising £1,870 for Children and Young People’s Eating Disorders Service, after the daughter of 2 members used their services in 2024.

“The help and support we have received from the service has been second to none. We as a family would like to show our appreciation and hope whatever money we raise will help another family going through similar times to us.”

Hospital League of Friends

Our community hospitals are very fortunate to be supported by a thriving and hard-working network of League of Friends. They tirelessly fund raise to help support the delivery of healthcare through the purchase of up-to-date medical devices which this year included bladder scanners and ECG recorders, specialist furniture, sports equipment and entertainment systems which will improve the care experience for our patients. The Guild of Friends of Camborne Redruth Community Hospital in partnership with Redruth Charity Trust have been instrumental in the setting up of a new café at Camborne Redruth Community Hospital.

In 2024-25, our hospitals in Bodmin, Bude, St Austell, Launceston, Falmouth, Helston and Newquay also benefited from the contributions of their loyal Leagues of Friends, affording us the opportunity to allocate charitable funds to exciting new projects, innovation and research, staff training and development, and initiatives supporting the health and wellbeing of our people and patients.

In memory

We extend special thanks to all the individuals, families, and friends who have supported the Cornwall Partnership Foundation Trust Charitable Fund in memory of someone this year. Donating or fundraising in memory of someone is a very special and meaningful way to pay tribute to a loved one, whilst helping others at the same time. We are incredibly touched and grateful to receive these donations.

Future plans

We look forward to further promoting our new brand next year, getting out and about telling people about our charity, and offering our generous donors and incredible fund raisers an enhanced supporter journey. We continue to explore opportunities to work in partnership with voluntary, community and social enterprise organisations to deliver an improved patient experience in surroundings and spaces conducive to wellbeing and recovery. We will be fundraising to enrich health and wellbeing through arts, culture and creativity at Cornwall Partnership NHS Foundation Trust, and supporting teams to effectively use their charitable funds to enhance the experience of patients throughout their care journey.

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Making a difference

Below are some examples of where charitable donations to the fund are making a difference.

Get involved

If you would like to find out more about how we use charitable donations to improve our services or about our charity, visit our website: cornwallft.nhs.uk/charitable-funds

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If you have any questions about making a donation or would like more information about how we may be able to support your fundraising, email cft.fundraising@nhs.net .

We would love to hear from you.

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Trustees’ responsibilities in relation to the financial statements

The 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’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow the best practice and:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity, and which enable them to ascertain the financial position of the charity, and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Trust deed. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by Cornwall Partnership NHS Foundation Trust as the corporate trustee on 14 January 2026 and signed on their behalf by:

DHarvey A Perry D Richards
Chair, Charitable Fund Chief Finance Offcer and Chief Executive
Committee Charitable Fund Committee
Member

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Statement of financial activities for the year ending 31 March 2025

==> picture [541 x 524] intentionally omitted <==

----- Start of picture text -----
Description Notes Unrestricted Restricted Endowment Total funds Total funds
funds funds funds 2025 2024
£000 £000 £000 £000 £000
Incoming resources:
• Donations and 4 1 131 - 132 66
legacies
• Fundraising 5 193 11 - 204 54
• Investment 7 13 39 - 52 43
income
• Other incoming 1 4 - 5 -
resources
Total incoming 208 185 - 393 163
resources
Resources expended:
• Charitable 8 58 77 - 135 53
activities
• Raising funds 10 - - - -
Total resources 58 77 - 135 53
expended
Net gains/(losses) on 15 - (2) - (2) 9
Investments
Net income/ 150 106 - 256 119
(expenditure)
Transfers between 21 - - - - -
funds
Net movement in 150 106 - 256 119
funds
Reconciliation of
funds:
• Total funds 284 1,238 12 1,534 1,415
brought forward
Total funds carried 434 1,344 12 1,790 1,534
forward
----- End of picture text -----

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Statement of financial position as at 31 March 2025

==> picture [541 x 320] intentionally omitted <==

----- Start of picture text -----
Description Notes Total funds Total funds
2025 2024
£000 £000
Fixed assets:
• Investments 15 62 64
Total fixed assets 62 64
Current assets:
• Debtors 16 12 8
• Cash and cash equivalents 17 1,753 1,497
Total current assets 1,765 1,505
Current liabilities:
• Creditors falling due within 1 year 18 37 35
Net current assets 1,728 1,470
Total assets less current liabilities 1,790 1,534
Funds of the charity:
• Unrestricted funds 21a 434 284
• Restricted funds 21b 1,344 1,238
• Endowment funds 21c 12 12
Total funds 1,790 1,534
----- End of picture text -----

The notes on pages 31 to 47 form part of these accounts.

Signed on behalf of Cornwall Partnership NHS Foundation Trust, as corporate trustee:

D Harvey Chair, Charitable Fund Committee

A Perry Chief Finance Officer and Charitable Fund Committee Member

D Richards Chief Executive

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Statement of cash flows for the year ending 31 March 2025

Description Notes 2025
£000		 2024
£000
Cash flows from operating activities:
•Net cashprovided by (used in)operatingactivities 19 204 66
Cash flows from investing activities:
Interest from current asset investments 52 43
Change in cash and cash equivalents in the reporting period 256 109
Cash and cash equivalents at the beginning of the reporting
period		 1,497 1,388
Cash and cash equivalents at the end of the reporting period 1,753 1,497

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Notes to the accounts

1. Accounting policies

(a) Basis of preparation

The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at fair value.

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The trustees consider that there are no material uncertainties about the Cornwall Partnership Foundation Trust Charitable Fund ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts.

(b) Funds structure

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified either as a restricted fund or an endowment fund.

Restricted funds are those where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose. Cornwall Partnership Foundation Trust Charitable Fund restricted funds are generally for specific community hospitals or services provided by Cornwall Partnership NHS Foundation Trust.

Endowment funds arise when the donor has expressly provided that the gift is to be invested and only the income of the fund may be spent. These funds are sub-analysed between those where the trustees have the discretion to spend the capital (expendable endowment) and those where there is no discretion to expend the capital (permanent endowment). The charity has one permanent endowment fund called the Allsup Bequest. The fund is not managed on a total return basis.

Those funds which are neither endowment nor restricted income funds, are unrestricted income funds which are sub-analysed between designated (earmarked) funds where the trustees have set aside amounts to be used for specific purposes or which reflect the nonbinding wishes of donors and unrestricted funds which are at the trustees’ discretion, including the general fund which represents the charity’s reserves. The major funds held in each of these categories are disclosed in note 21.

(c) Incoming resources

All incoming resources are recognised once the charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

Charitable Fund Annual Report and Accounts 2024-25 31

(d) Incoming resources from legacies

Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is probable.

Receipt is probable when:

If there is uncertainty as to the amount of the legacy and it cannot be reliably estimated then the legacy is shown as a contingent asset until all of the conditions for income recognition are met.

(e) Incoming resources from endowment funds

The incoming resources received from the invested endowment fund are wholly restricted.

(f) Resources expended and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to each category of expense shown in the statement of financial activities

Expenditure is recognised when the following criteria are met:

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

(g) Recognition of expenditure and associated liabilities as a result of grants

Grants payable are payments made to linked, related party or third party NHS bodies and non NHS bodies, in furtherance of the charitable objectives of the funds held on trust, primarily relief of those who are sick.

Grant payments are recognised as expenditure when the conditions for their payment have been met or where there is a constructive obligation to make a payment.

A constructive obligation arises when:

The trustees have control over the amount and timing of grant payments and consequently where approval has been given by the trustees and any of the above criteria have been met then a liability is recognised.

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Grants are not usually awarded with conditions attached. When they are, however, then those conditions have to be met before the liability is recognised.

The total costs of each category of charitable expenditure include an apportionment of support costs as shown in note 8.

(k) Fixed asset investments

Where an intention has not been communicated, then no expenditure is recognised but an appropriate designation is made in the appropriate fund. If a grant has been offered but there is uncertainty as to whether it will be accepted or whether conditions will be met then no liability is recognised but a contingent liability is disclosed.

(h) Allocation of support costs

Charges are made by Cornwall Partnership NHS Foundation Trust for supporting the governance of the charity and the provision of transaction processing services provided by the financial services department of the corporate trustee. The total support costs are apportioned to each fund and sub fund within the reporting charity based on the balance held at the end of the financial year. The analysis of support costs are shown in note 11.

Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included on the balance sheet at the current market value.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Further information on the charities investments can be found in the annual report part of this document.

(l) Debtors

(i) Fundraising costs

The costs of generating funds are those costs attributable to generating income for the charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in furtherance of the charity’s objects.

(j) Charitable activities

Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs.

Debtors are amounts owed to the charity. They are measured on the basis of their recoverable amount.

(m) Cash and cash equivalents

Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due. Cash equivalents are short-term, highly liquid investments, in less than 90-day notice interest bearing savings accounts.

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(n) Creditors

Creditors are amounts owed by the charity. They are measured as the amount that the charity expects to have to pay to settle the debt.

Amounts which are owed in more than a year are shown as long-term creditors.

(o) Realised gains and losses

Unrealised gains and losses are calculated as the difference between the market value at the year end and opening carrying value (or purchase date if later).

(p) Pensions

The charity is a grant making charity and has no employees and any pension contribution liabilities that may arise are solely the responsibility of the grant recipient.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening carrying value (purchase date if later).

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2. Prior year comparatives by type of fund

The primary statements provide prior year comparatives in total; this note provides prior period comparatives for the statement of financial activities and the balance sheet for each of the 3 types of fund in the reporting charity.

(2a) Unrestricted funds

Statement of financial activity for the year ended 31 March 2025

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----- Start of picture text -----
Description Total funds Total funds
2025 2024
£000 £000
Incoming resources:
• Donation and legacies 1 22
• Fundraising 193 52
• Investment income 13 8
• Other incoming resources 1 -
Total incoming resources 208 82
Resources expended:
• Charitable activities 58 11
• Raising funds - -
Total resources expended 58 11
Net gains/(losses) on investments - 2
Net income/(expenditure) 150 73
Transfers between funds - -
Net movement in funds 150 73
Reconciliation of funds:
• Total funds brought forward 284 211
Total funds carried forward 434 284
----- End of picture text -----

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Balance sheet as at 31 March 2025

==> picture [541 x 251] intentionally omitted <==

----- Start of picture text -----
Description Unrestricted Unrestricted
funds 2025 funds 2024
£000 £000
Fixed assets:
• Investments 62 64
Total fixed assets 62 64
Current assets:
• Debtors 7 8
• Cash and cash equivalents 365 212
Total current assets 372 220
Current liabilities:
• Creditors falling due within 1 year - -
Net current assets 372 220
Total assets less current liabilities 434 284
Total unrestricted funds 434 284
----- End of picture text -----

(2b) Restricted funds

Statement of financial activity for the year ended 31 March 2025

==> picture [541 x 337] intentionally omitted <==

----- Start of picture text -----
Description Total funds Total funds
2025 2024
£000 £000
Incoming resources:
• Donation and legacies 131 44
• Fundraising 11 2
• Investment income 39 35
• Other incoming resources 4 -
Total incoming resources 185 81
Resources expended:
• Charitable activities 77 42
• Raising funds - -
Total resources expended 77 42
Net gains/(losses) on investments (2) 7
Net income/(expenditure) 106 46
Transfers between funds - -
Net movement in funds 106 46
Reconciliation of funds:
• Total funds brought forward 1,238 1,192
Total funds carried forward 1,344 1,238
----- End of picture text -----

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Balance sheet as at 31 March 2025

==> picture [541 x 251] intentionally omitted <==

----- Start of picture text -----
Description Restricted Restricted
funds 2025 funds 2024
£000 £000
Fixed assets:
• Investments - -
- -
Total fixed assets
Current assets
• Debtors 5 -
• Cash and cash equivalents 1,376 1,273
Total current assets 1,381 1,273
Current liabilities:
• Creditors falling due within 1 year 37 35
Net current assets 1,344 1,238
Total assets less current liabilities 1,344 1,238
Total restricted funds 1,344 1,238
----- End of picture text -----

(2c) Endowment funds

Statement of financial activity for the year ended 31 March 2025

==> picture [541 x 354] intentionally omitted <==

----- Start of picture text -----
Description Total funds Total funds
2025 2024
£000 £000
Incoming resources:
• Donation and legacies - -
• Fundraising - -
• Investment income - -
• Other incoming resources - -
Total incoming resources - -
Resources expended:
• Charitable activities - -
• Raising funds - -
• Trolley shop expenditure - -
Total resources expended - -
Net gains/(losses) on investments - -
Net income/(expenditure) - -
Transfers between funds - -
Net movement in funds - -
Reconciliation of funds:
• Total funds brought forward 12 12
Total funds carried forward 12 12
----- End of picture text -----

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Balance sheet as at 31 March 2025

==> picture [541 x 252] intentionally omitted <==

----- Start of picture text -----
Description Endowment Endowment
funds 2025 funds 2024
£000 £000
Fixed assets:
• Investments - -
- -
Total fixed assets
Current assets:
• Debtors - -
• Cash and cash equivalents 12 12
Total current assets 12 12
Current liabilities:
• Creditors falling due within 1 year - -
Total assets less current liabilities 12 12
Total net assets 12 12
Total endowment funds 12 12
----- End of picture text -----

3. Related party transactions

Cornwall Partnership NHS Foundation Trust is the sole corporate trustee of the Cornwall Partnership Foundation Trust Charitable Fund. The Foundation Trust acts through the Trust Board. The Foundation Trust also provides services to the charity in respect of day-to-day governance, transaction processing, and IT support for which the charge in 2024-25 was £22,826 (2023-24; £20,770). In addition to this charge, there are some transactions between the 2 entities that pass through an inter-company account for administrative reasons. At 31 March 2025 £37,155 (2024; £33,859) was owed to the Trust and £4,920 (2024; £0) was owed by the Trust.

During 2024-25 grants of £102,003 (2023-24; £23,877) were paid to the corporate trustee.

During the year, none of the Board members of Cornwall Partnership NHS Foundation Trust, or members of the key management staff, or parties related to them, has undertaken any material transactions with the Cornwall Partnership Foundation Trust Charitable Fund. Board members take decisions both on charity and exchequer matters but keep the interests of each other discrete and do not benefit personally from such decisions. Declarations of personal interest have been made and are available to be inspected by the public.

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4. Income from donations and legacies

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----- Start of picture text -----
Description Unrestricted Restricted Endowment Totals 31 Totals 31
funds funds funds March 2025 March 2024
£000 £000 £000 £000 £000
Donations 1 49 - 50 59
Legacies - 82 - 82 7
Totals 1 131 - 132 66
----- End of picture text -----

Donations from individuals are gifts from members of the public, patients, relatives, or funeral directors donations in lieu of flowers. These are received in cash or cheque on the ward, at the hospital general office, by bank transfer or are received in the post. Also included are Just Giving Donations received via the Just Giving website.

5. Analysis of income from fundraising activities

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----- Start of picture text -----
Description Unrestricted Restricted Endowment Totals 31 Totals 31
funds funds funds March 2025 March 2024
£000 £000 £000 £000 £000
Trolley shop - 2 - 2 2
Grants received 191 8 - 199 49
Fundraising general 2 1 - 3 3
Totals 193 11 - 204 54
----- End of picture text -----

6. Fund management

There are about 50 staff who manage the various funds of the charity. Each fund holder has delegated powers to spend the funds that they manage in accordance with the guidelines on the use and Application of charitable funds which is a policy document that is reviewed by the trustees on an annual basis. The document contains guidance on public benefit and examples of what is and is not deemed to be charitable expenditure. Fund holders can authorise expenditure up to £1,500 providing they have funds available. Any expenditure over £1,500 has to be approved by the Charitable Fund Committee acting on behalf of the trustees.

In accordance with the statement of recommended practice due to the absence of any reliable measurement basis, the contribution of these fund holders is not recognised in the accounts.

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7. Gross investment income

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----- Start of picture text -----
Description Unrestricted Restricted Endowment Totals 31 Totals 31
funds funds funds March 2025 March 2024
£000 £000 £000 £000 £000
Interest from cash and 13 39 - 52 43
cash equivalent deposit
accounts
Totals 13 39 - 52 43
----- End of picture text -----

The charity only places money on deposit with entities that meet the corporate trustees own policy as regards to their risk as assessed by credit rating agencies.

8. Analysis of charitable expenditure

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----- Start of picture text -----
Description Direct charitable Support costs Totals 31 Totals 31
expenditure March 2025 March 2024
£000 £000 £000 £000
Build or refurbishment 2 1 3 -
Patient facilities and welfare 11 3 14 20
Staff training, support and 45 12 57 7
welfare
Equipment 49 12 61 26
Research - - - -
Totals 107 28 135 53
----- End of picture text -----

9. Analysis of grants

Included within the charitable expenditure analysed at note 9 are grants of £102,003 made to Cornwall Partnership NHS Foundation Trust (a related party). The total cost of making grants, including support costs, is disclosed on the face of the statement of financial activities and the actual funds spent on each category of charitable activity is disclosed in note 8.

10. Analysis of raising funds expenditure

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----- Start of picture text -----
Description Unrestricted Restricted Endowment Totals 31 Totals 31
funds funds funds March 2025 March 2024
£000 £000 £000 £000 £000
Fundraising - - - - -
expenditure
Totals - - - - -
----- End of picture text -----

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11. Allocation of support costs and overheads

Support costs are allocated between charitable activities and mainly consist of charges levied by Cornwall Partnership NHS Foundation Trust for the day-to-day governance of the charity including the preparation of the annual accounts and report. There is also a charge for transactional processing and IT support provided by the corporate trustees own financial services department. There is also a fee charged for the independent examination of these accounts and annual report.

The bases of allocation are in the case of time and salary a calculated realistic assumption of the time that staff spend on charitable fund activities which is then used to calculate what proportion of their salary should be recharged to the charity. The independent examination fee is settled on production of an invoice.

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----- Start of picture text -----
Description Raising Support Totals 31 Allocation basis
funds costs March 2025
Salaries and related costs - 18 18 Recharged salary costs
Promotional and advertising - - - Invoices
Consultancy services - - - Invoices
Training - - - Invoices
Charity insurance - 2 2 Invoices
Financial administration - 7 7 Invoices
Independent examination - 1 1 Accrual
Totals - 28 28 N/A
Description Unrestricted Restricted Endowment Totals 31 Totals 31
funds funds funds March 2025 March 2024
£000 £000 £000 £000 £000
Support costs 7 21 - 28 24
Raising funds - - - - -
Totals 7 21 - 28 24
----- End of picture text -----

12. Trustees’ remuneration, benefits and expenses

The charity’s trustees receive no remuneration, benefits, or expenses for the work that they undertake as trustees.

13. Analysis of staff costs and remuneration of key management personnel

The charity does not employ staff directly.

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14. Independent examination

The independent examiners fee of £1,104 (2023-24; £1,095) relates solely to the audit with no other additional work being undertaken.

15. Fixed asset investments

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----- Start of picture text -----
Description 2025 2024
£000 £000
Market value brought forward 64 55
Add: Additions to investments at cost - -
Less: Disposals at carrying - -
Add: Net gain on revaluation (2) 9
Market valuation as at 31 March 2025 62 64
----- End of picture text -----

Fixed asset investments by type

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----- Start of picture text -----
Description 2025 2024
£000 £000
COIF charities global equity income fund:
• UK equities 4 3
• European equities 10 8
• North American equities 24 28
• Asia Pacific 1 2
• Other equities or holdings 1 1
CT Responsible UK Income Fund:
• UK equities 22 21
• Cash holdings 0 1
Totals 62 64
----- End of picture text -----

All investments are carried at their fair value.

The Cornwall Partnership Foundation Trust Charitable Fund takes a risk-averse approach to fixed asset investing and in accordance with the charitable fund investment policy does not invest more than 10% of cash reserves in equity-based investments. Further information about the charities policy on investment is contained in the annual report part of this document.

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16. Analysis of current debtors

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----- Start of picture text -----
Debtors under 1 year 2025 2024
£000 £000
NHS debtors 5 -
Non NHS debtors 7 8
Totals 12 8
----- End of picture text -----

17. Analysis of cash and cash equivalents

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----- Start of picture text -----
Description 2025 2024
£000 £000
Lloyds 473 259
CCLA COIF charities deposit fund 552 526
Nationwide Business Saver 641 627
CAF 90 day notice account 87 85
Totals 1,753 1,497
----- End of picture text -----

Lloyds is the charities current account and is used to facilitate day-to-day cash flow and the fulfilment of obligation to make payments for items purchased by the charity. Lloyds is also used as an instant access deposit facility. The CCLA COIF and Nationwide Business Saver accounts are both instant access deposit accounts. The CAF account is held on a 90-day notice and therefore classified as cash and cash equivalents.

No cash or cash equivalents or current asset investments were held in non-cash investments or outside of the UK.

All the amounts held on interest bearing deposit are available to spend on charitable activities. Funds are transferred between the accounts to maintain a positive cash flow position and to meet obligations and to ensure that funds are protected as far as possible under the government backed Financial Service Compensation Scheme.

18. Analysis of current liabilities

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----- Start of picture text -----
Creditors under 1 year 2025 2024
£000 £000
NHS creditors 37 34
Non NHS creditors - 1
Accruals - -
Totals 37 35
----- End of picture text -----

The £34k NHS Creditor is the related party balance referred to in note 3.

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19. Reconciliation of net income/(expenditure) to net cash flow from operating activities

Description 2025
£000		 2024
£000
Net Income/(expenditure) for the year (as per the statement of
financial activities)		 256 119
Adjustments for:
•(Gains)/losses on investments 2 (9)
•Interest from current asset investments (52) (43)
•(Increase)/decrease in debtors (4) (8)
•Increase/(decrease)in creditors 2 7
Net cashprovided by (used in) operating activities 204 66

20. Transfers between funds

Transfers between funds are set out at note 21.

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21. Analysis of charitable funds

a) Analysis of unrestricted fund movements

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----- Start of picture text -----
Fund name Balance Incoming Resources Transfers Balance
as at 1 resources expended as at 31
April 2024 March
2025
£000 £000 £000 £000 £000
Cornwall Partnership general 83 3 (1) - 85
Designated funds:
• Adult community services research 27 1 - - 28
training and development
• Children’s Epilepsy Nursing Team 5 - - - 5
• CC&D Community Services - - - - -
• COVID-19 appeal 6 - (1) - 5
• Early intervention: Social inclusion 1 - - - 1
• Eating Disorder Service 6 3 (1) - 8
• Learning disabilities development 10 1 (1) - 10
• Learning Disability Advisory Group 1 - - - 1
• Mental health general (previously 2 - (1) - 1
Walter Bentley Fund)
• NHS Charities Together (3 funds) 121 199 (52) - 268
• Special parenting fund 6 - - - 6
• St Mary’s Community Hospital 7 - - - 7
• Stroke and Neurological Service 3 - - - 3
• Trevillis Fund 1 - - - 1
• Volunteers in Partnership 5 - (1) - 4
• West Cornwall CAMHS Team - 1 - - 1
Total unrestricted funds 284 208 (58) - 434
----- End of picture text -----

The general fund includes all donations for which a donor has not expressed any preference as to how the funds shall be spent and any unrestricted income accruing to the charity. These funds are applied for any charitable purpose to the benefit of the patients of Cornwall Partnership Foundation Trust Charitable Fund at the absolute discretion of the trustees.

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b) Analysis of restricted fund movements

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----- Start of picture text -----
Fund name Balance Incoming Resources Transfers Balance
as at 1 resources expended as at 31
April 2024 March
2025
Bodmin Hospital general 65 4 (3) - 66
Bodmin Hospital mental health 71 8 (10) - 69
Bolitho House - - - - -
Camborne Redruth 17 3 (2) - 18
Children's services 6 1 - - 7
Cornwall community teams 92 5 (4) - 93
Day centres 6 - (1) - 5
Dementia inpatients fund 10 1 - - 11
Edward Hain - - - - -
Falmouth 2 1 - - 3
Fowey 258 7 (4) - 261
Helston 2 4 (1) - 5
Launceston 1 5 - - 6
Liskeard 29 4 - - 33
Longreach House 1 84 (1) - 84
Newquay 27 1 (1) - 27
St Austell 16 5 - - 21
St Barnabas 134 4 (2) - 136
Stratton 383 12 (6) - 389
Supported domestic housing 5 - - - 5
Trengweath 1 - - - 1
Sowenna Fund 112 34 (42) - 104
Total restricted funds 1,238 183 (77) - 1,344
----- End of picture text -----

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c) Analysis of endowment fund movements

Description Balance
as at 1
April 2024		 Incoming
resources		 Resources
expended		 Transfers Balance
as at 31
March
2025
AllsupBequest 12 - - - 12
Total 12 - - - 12

The Allsup bequest is not managed on a total return basis.

22. Total return on investment

Cornwall Partnership Foundation Trust Charitable Fund does not manage its permanent endowment on a total return basis.

Charitable Fund Annual Report and Accounts 2024-25

47

Independent examiner’s report on the accounts

Report to the trustees and members of Cornwall Partnership Foundation Trust Charitable Fund.

On accounts for the year ended 31 March 2025 Charity number: 1058366 Set out on pages 23 to 47

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2025.

As the charity’s trustees, 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 Trust’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) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Victoria Gould Deputy Director of Audit and Assurance Services ASW Assurance

Signed: 21 January 2026

Relevant professional qualification(s) or body: ACCA

Charitable Fund Annual Report and Accounts 2024-25

48

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To get this information in another format email: cftcommunications@nhs.net

Published by Cornwall Partnership NHS Foundation Trust Head office: Carew House, Beacon Technology Park, Dunmere Road, Bodmin, PL31 2QN. January 2026 (Review 2026). Produced by Communications Team (C094).