# **Cornwall Community Foundation (Limited by Guarantee)** 

**Trustees’ Report and Financial Statements** 

**For the year ended 31 December 2022** 

Charity registration number 1099977 Company registration number 04816191 



## Cornwall Community Foundation 

## Contents 

||_Page_|
|---|---|
|Report of the Board of Trustees|1 – 7|
|Independent auditors’ report|8 – 11|
|Statement of financial activities|12|
|Balance sheet|13|
|Statement of cash flows|14|
|Notes to statement of cash flows|15|
|Notes to the financial statements|16 – 38|





## Cornwall Community Foundation 

## Report of the Board of Trustees 

_For the year ended 31 December 2022_ 

The Board of Trustees present their annual report for the year ended 31 December 2022, together with the audited financial statements for the year which are also prepared to meet the requirements for a directors’ report and financial statements for Companies Act purposes. 

The financial statements comply with the Charities Act 2011, Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting for Charities: 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 (FRS102). 

## Purpose and activities 

## **Charitable purposes** 

These are: 

- The promotion of any charitable purposes for the benefit of the community in the county of Cornwall and the Isles of Scilly and in particular the advancement of education, the protection of good health, both mental and physical and the relief of poverty and sickness. 

- Other exclusively charitable purposes in the United Kingdom and elsewhere which are in the opinion of the trustees beneficial to the community including those in the area of benefit. 

## **Public benefit, aims and objectives** 

The charity complies with the public benefit requirement through its grant making programmes. 

We want Cornwall & the Isles of Scilly to be a great place to live for everyone - a place where people work together to address disadvantage and build strong, resilient communities. 

Our mission is to inspire local giving to meet local needs. We aim to make sustainable funding available to address disadvantage and build strong communities by promoting effective philanthropy. 

We have three strategic priorities: 

- To increase substantially the funds at our disposal; 

- To deliver an efficient and effective grants programme; 

- To be at the core of the voluntary sector in Cornwall. 

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting the grant making policy each year. 

The grant making programmes are wholly directed at supporting community groups within Cornwall and the Isles of Scilly. 

The charity’s fund development work is aimed at ensuring the funds continue to be available in the future so that income can be generated to continue to support the above groups for the benefit of the residents in the county. 

In addition to the guidance from Charity Commission and the Fundraising Regulator the trustees have also used the Charity Governance Code as their frame of reference. 

1 



## Cornwall Community Foundation 

## Report of the Board of Trustees 

_For the year ended 31 December 2022_ 

## Strategic report 

## **Review of achievements and plans for the future (incorporating Chair’s Report)** 

In 2022 the Cornwall Community Foundation (CCF) distributed £2,363,927 to 663 community projects and individuals. The pandemic and the cost of living crisis have exacerbated the challenges that our local communities are facing. We are very grateful to our friends, business supporters and fundholders whose generosity enabled us to respond to the increasing need. Since 2003 the CCF has awarded £15 million to more than 7,000 community projects all across Cornwall and the Isles of Scilly. 

At the end of 2022 CCF’s assets totalled £13,123,042 (an increase of £2,540,878 in the year), of which, total funds held and managed in the CCF’s endowment was £10,072,161 (an increase of £2,104,011 in the year). The financial objective of the CCF is to maintain at least the real value of the assets while generating a growing income to fund grant making. The investment objective of the CCF is to produce the best financial return from its endowment within an acceptable level of risk. 

Our fund development aims to substantially increase the funds at our disposal by prioritising endowment; encouraging annual contributions; increasing the contribution from local businesses and individuals based in and outside of Cornwall. Our Friends membership scheme had 364 members at the end of 2022 and our Friends responded very generously to our appeals. 

Several new funds were established in 2022, including the Cost of Living Crisis Fund, the Welcome Fund, the Harrison Family Fund, the Sedel-Collings Foundation, the South West Enterprise Fund, the Cornish Lithium Fund and the Bude Area Fund. The legacy donation from the late Mrs Lillian Mary Simons helped the establishment of many of these funds. A heartfelt thank you to Mrs Lucie Nottingham for establishing the Tanner Phoenix Trust to support charities and community groups across Cornwall. 

Generous match funding, offered by Mr Peter Harrison, was instrumental in launching our Cost of Living Crisis Fund which raised over £500,000. The Duchy Health Charity contributed £50,000 to the fund. Food insecurities, debt and housing risks, particularly for private rental tenants, have become real life challenges for many, impacting on people’s wellbeing and mental health. 

Cornwall Council also supported the Cost of Living Crisis Fund and our Surviving Winter Fund and established the Welcome Fund to support groups working with refugees. Their donations totalled £410,000 in 2022 for which we are very grateful. We work closely with the Office of the Police and Crime Commissioner and the Chief Constable of Devon and Cornwall Police. Their funding, totalling £179,000 in 2022, helped to reduce antisocial behaviour across Cornwall. 

The Cornwall Social Enterprise Fund distributed £261,580 in 2022 to increase employment and skill levels. The Arts Council Queen’s Platinum Jubilee Fund supported new creative and cultural activities with more than £40,000 funding as part of Her Majesty The Queen’s Platinum Jubilee celebrations. 

The Duke of Cornwall’s Benevolent Fund established a new marine environmental fund to inspire community action, and remains a staunch supporter of our Crisis and Young Carers Funds. 

We are very proud to be administering the Young & Talented Fund, the Lord Lieutenant’s Fund for Youth, which supported 26 talented young people with a total of £36,200. Thanks to funding from the Arts Council a new Creative Writing Award was established to support young writers in Cornwall aged between 16 and 23 from disadvantaged and challenging backgrounds. 

2 



## Cornwall Community Foundation 

## Report of the Board of Trustees 

_For the year ended 31 December 2022_ 

## **Review of achievements and plans for the future (incorporating Chair’s Report) (continued)** 

The Christmas Fair team raised an incredible £73,680 at this popular event, hosted by the Eden Project, and the proceeds benefited key charities and 19 foodbanks. 

Our Business Club awarded a total of £35,000 to 14 community projects in 2022. Many of our business supporters helped us beyond their membership fees, including the Headland Hotel, the Budock Vean Hotel, Lillicrap Chilcott, Savills Estate Agents, John Bray and Partners Ltd, Rodda’s Creamery, St Austell Printing Company and Wildanet. 

In 2022 we published our second Vital Signs report which is an in depth research of local needs. We are very grateful to University of Exeter for their partnership and to James Williams Vice LordLieutenant and Vice President of the CCF for covering the cost of publishing the report. 

We are dedicated to adhere to the highest fundraising standards and have registered with the Fundraising Regulator. Staff members and Trustees participated in UK Community Foundations’ biennial conference in Manchester. 

We are committed to meeting the increasing demand on funding by bringing together people who want to help Cornish communities with projects that make a real difference. We aim to work closer with professional advisors to support their clients’ charitable goals. We offer similar support to corporate donors who have an interest in the local community and are interested in putting their corporate social responsibility into practice. 

Almost all income generation activity is undertaken by CCF trustees and staff or on our behalf through introductions made by our network of contacts. We also connect to potential donors and partners through networking and by raising our profile through communications. 

## We will not: 

- use direct marketing, telephone, doorstep or on-street fundraising; 

- use professional fundraising agencies to raise income on our behalf; or 

- share information about donors or supporters without their express permission. 

The CCF maintains records of all complaints received and during the year received no complaints on its fundraising activities. 

This year has brought new challenges, but the unwavering support from our donors has enabled us to respond to the unfolding cost of living crisis robustly and provide vital support to our communities. We are very grateful to our supporters who tirelessly volunteer their time and expertise. I would like to thank our dedicated staff and trustees, especially Jane Hartley DL, who chaired the CCF over the last five years. Under Jane’s leadership the CCF has evolved into one of the leading charities in the Duchy. We are proud to have supported over 100,000 people in Cornwall and the Isles of Scilly in 2022 and remain committed ensuring that everyone can have the chance that they deserve to succeed and thrive. 

**Kim Conchie DL FRSA** _Chair_ 

27 July 2023 

3 



## Cornwall Community Foundation 

## Report of the Board of Trustees 

_For the year ended 31 December 2022_ 

## **Financial review** 

The total income for the year was £6,165,164 (2021: £3,741,941).  Total expenditure was £2,865,818 (2021: £2,802,939), giving net incoming movement in funds for the year of £2,540,878 (2021: £1,712,869) after investment losses of £758,468 (2021: gains of £773,867). 

At the year-end total charity funds were £13,123,042 (2021: £10,582,164). This consisted of endowment funds of £10,072,161 (2021: £7,968,150), restricted funds of £2,473,165 (2021: £2,015,764) and unrestricted funds of £577,716 (2021: £598,250). 

## **Investment powers and policy** 

Under the Memorandum and Articles of Association, the charity has the power to make any investments which the trustees see fit.  The trustees regularly review internal financial information to ensure their financial position is such that it is adequate to provide sufficient resources to perform the charity’s objects in all types of conditions and to act accordingly.  The trustees have reflected on the need to balance risk and return on its reserves and have decided to maintain a balance between equity investments and interest bearing accounts. 

## **Grant making policy** 

The charity considers applications for funding support on a regular basis.  Applications are reviewed against specific criteria and the amount granted is based on available funds. 

## **Reserves policy** 

It is the trustees’ view that it is prudent to accumulate free reserves to be able to cover anticipated administration costs to sustain its operations, during any period when income generating activities may temporarily cease. The trustees therefore consider that reserves should be held to finance at least nine months of budgeted operating costs which is approximately £374,600. At the year end the unrestricted fund was £577,716 (2021: £580,548), of which funds of approximately £200,100 have been earmarked by the trustees for a number of projects to aid the future development of the charity. The level of reserves held is closely monitored by the trustees. 

4 



## Cornwall Community Foundation 

## Report of the Board of Trustees 

_For the year ended 31 December 2022_ 

## **Reference and Administrative Details** 

|**Name of Charity:**|Cornwall Community Foundation|
|---|---|
|**Charity registration number:**|1099977|
|**Company registration number:**|04816191|
|**Governing instrument:**|Memorandum and Articles of Association dated 1 July 2003 as|
||amended 14 July 2010 and 17 January 2020|
|**Principal address and registered**||
|**office:**|Suite 1, Sheers Barton, Lawhitton, Launceston, Cornwall, PL15 9NJ|
|**Website:**|www.cornwallcommunityfoundation.com|
|**Patron:**|HRH The Duchess of Cornwall|
||(Patron during the period of accounts,  awaiting confirmation of|
||continued patronage following allocation of royal duties).|
|**President:**|Colonel Edward Bolitho OBE, Lord-Lieutenant of Cornwall|
|**Vice Presidents:**|The Rt Rev Timothy Thornton, Bishop at Lambeth|
||Mr James Williams, Vice Lord-Lieutenant of Cornwall|
||The Hon Evelyn Boscawen DL|
|**Officers:**|Mr Tamas Haydu<br>Chief Executive|
||Mr Richard Pollock<br>Company Secretary|
|**Board of Directors/Trustees:**|Mr Kim Conchie (Chair from 28 July 2022)|
||Mrs Jane Hartley DL (Chair to 28 July 2022)|
||Mr Timothy Smith FCA (Vice Chair)|
||Mr Graham Clarke (Treasurer)<br>Appointed 28 July 2022|
||Mrs Natercia Hughes FCCA DChA       Resigned 28 July 2022|
||Mr Toby Ashworth|
||Mr Daiman Baker|
||Mr Stamford Galsworthy|
||Ms Sophie Hosking|
||The Rt Rev Philip Mounstephen, Bishop of Truro|
||Mr Thomas Van Oss|
||Mrs Gillian Pipkin|
||Mr Jeremy Sharp|
||Miss Daphne Skinnard DL|
||Ms Verity Perham|
||Mrs Jane Trahair|
||Mr Joseph Turnbull<br>Appointed 28 July 2022|
|**Auditors:**|RRL LLP, Peat House, Newham Road, Truro, Cornwall TR1 2DP|
|**Solicitors:**|Coodes LLP, 8 Race Hill, Launceston, Cornwall PL15 9BA|
|**Bankers:**|National Westminster Bank Plc, 3 St Nicholas Street, Truro, Cornwall|
||TR1 2RN|



5 



## Cornwall Community Foundation 

## Report of the Board of Trustees 

_For the year ended 31 December 2022_ 

## **Structure, Governance and Management** 

The Cornwall Community Foundation is constituted as a company limited by guarantee and was incorporated on 1 July 2003 and registered as a charity on 10 October 2003.  The charity is administered by a board of trustees which meets a minimum of three times a year.  A Chief Executive, who is not a trustee, is appointed by the board to manage the day-to-day operations of the charity. 

## **Recruitment and induction of trustees** 

Suitable candidates are selected by the existing trustees and invited to become trustees. New trustees are invited to the CCF office for an induction meeting with the Chief Executive and the team in order to gain further understanding of the operations of the CCF. In addition, all Trustees are invited to attend the Grants Committee meetings. Trustees are also invited to training opportunities such as conferences and training courses to deepen their understanding of the context for the network of Community Foundations. 

## **Pay policy for senior staff** 

The pay of the senior staff is reviewed annually. In view of the nature of the charity, the directors benchmark against pay levels in other similar organisations. 

## **Related parties** 

None of the trustees receive remuneration or other benefit from their work with the charity. 

Any connection between a trustee or senior staff member with a grant recipient or supplier of the charity is disclosed to the board of Trustees in the same way as any other contractual relationship with a related party. 

In the current year no such related party transactions were reported. 

## **Risk assessment** 

The trustees have assessed the principal risks and uncertainties to which the charity is exposed and have established systems to mitigate those risks. The principal financial risk is a loss of income through falling donations and investment performance. This is monitored to ensure expenditure is kept within the funds available. This is an ongoing procedure and is subject to regular review. 

A risk assessment is carried out annually as part of the CCF’s Quality Assurance accreditation, covering all aspects of the charity’s activities and scored according to probability and impact. Remedial measure is taken where required. 

6 



## Cornwall Community Foundation 

## Report of the Board of Trustees 

_For the year ended 31 December 2022_ 

## **Statement of trustees’ responsibilities** 

The trustees (who are also directors of Cornwall Community Foundation, for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including income and expenditure of the charitable company for that period. In preparing those financial statements, the directors are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles of the SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed subject to any material 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 charitable company will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011.  They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **Statement of disclosure to auditor** 

So far as the trustees are aware, there is no relevant audit information of which the charitable company’s auditors are unaware.  Additionally, the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information. 

This report has been prepared in accordance with the special provision of part 15 of the Companies Act 2006 relating to small companies. 

In approving the Report of the Board of Trustees we also approve the Strategic Report included therein, in our capacity as company directors. 

Signed on behalf of the Trustees by 

Suite 1 Sheers Barton Lawhitton LAUNCESTON Cornwall PL15 9NJ 

**Mr Graham Clarke** _Treasurer_ 

27 July 2023 

7 



## Cornwall Community Foundation 

## Independent auditors’ report to the Members of Cornwall Community Foundation 

## **Opinion** 

We have audited the financial statements of Cornwall Community Foundation (the ‘charity’) for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)_ . 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

8 



## Cornwall Community Foundation 

## Independent auditors’ report to the Members of Cornwall Community Foundation 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of our audit: 

- the information given in the trustees' report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the trustees' report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees' report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

9 



## Cornwall Community Foundation 

## Independent auditors’ report to the Members of Cornwall Community Foundation 

## **Auditors’ responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations.  We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 

As part of our audit work, we obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which they operate. Given the activities of the charity, we determined that the most significant laws and regulations are charity fundraising regulations, UK tax legislation, employment law and health and safety and those that have a direct impact on the preparation of the financial statements such as the Charities Act 2011, the Companies Act 2006 and compliance with financial reporting framework FRS102 and the Charities Statement of Recommended Practice. 

The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: 

- Obtain an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which they operate; 

- Discussions with management as to how compliance with these laws and regulations is monitored; 

- Review of the disclosures in the financial statements and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; 

- Enquiries of management concerning actual and potential litigation and claims; 

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; 

- Reviewing minutes of trustee meetings and correspondence with regulators; 

- Performing audit work in connection with the risk of management override of controls, including testing journal entries for reasonableness and evaluating the business rationale of significant transactions outside the normal course of business. 

We also communicate relevant identified laws and regulations and potential fraud risk to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

10 



## Cornwall Community Foundation 

## Independent auditors’ report to the Members of Cornwall Community Foundation 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-andassurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditors-responsibilitiesfor-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report. 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 

## **Josh Stevens ACA** 

(Senior Statutory Auditor) 

For and on behalf of RRL LLP 

Peat House Newham Road TRURO Cornwall TR1 2DP 

24 August 2023 

11 



## Cornwall Community Foundation 

## Statement of financial activities 

## (incorporating income and expenditure account) 

_For the year ended 31 December 2022_ 

|||Endowment|Restricted|Unrestricted|**2022**|2021|
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|**Total**|Total|
||_Notes_|£|£|£|**£**|£|
|**Income**|||||||
|Donations and legacies|_3_|2,885,054|2,845,900|114,363|**5,845,317**|3,472,325|
|Income from trading activities|_5_|-|7,000|3,564|**10,564**|6,108|
|Investment income|_6_|15,205|282,318|11,760|**309,283**|263,508|
|||________|________|________|**________**|________|
|**Total income**||2,900,259|3,135,218|129,687|**6,165,164**|3,741,941|
|||________|________|________|**________**|________|
|**Expenditure**|||||||
|Expenditure on raising funds|_7_|-|15,800|89,631|**105,431**|83,711|
|Expenditure on charitable|||||||
|activities|_8_|2,600|2,363,284|394,503|**2,760,387**|2,719,228|
|||________|________|________|**________**|________|
|**Total expenditure**||2,600|2,379,084|484,134|**2,865,818**|2,802,939|
|||________|________|________|**________**|________|
|**Net income/(expenditure) for**|||||||
|**the year before net gains on**||2,897,659|756,134|(354,447)|**3,299,346**|939,002|
|**investments**|||||||
|Net (losses)/gains on investments||(734,434)|(6,003)|(18,031)|**(758,468)**|773,867|
|||________|________|________|**________**|________|
|**Net income/(expenditure) for the**|**year**|2,163,225|750,131|(372,478)|**2,540,878**|1,712,869|
|Transfers between funds|_23_|(59,214)|(292,730)|351,944|**-**|-|
|||________|________|________|**________**|________|
|**Net movement in funds**|_12_|**2,104,011**|**457,401**|**(20,534)**|**2,540,878**|1,712,869|
|**Reconciliation of funds**|||||||
|Total funds brought forward||7,968,150|2,015,764|598,250|**10,582,164**|8,869,295|
|||________|________|________|**________**|________|
|**Total funds carried forward**||**10,072,161**|**2,473,165**|**577,716**|**13,123,042**|10,582,164|



All income and expenditure are derived from continuing activities. 

The statement of financial activities includes all gains and losses recognised in the year. 

12 



## Cornwall Community Foundation 

## Balance sheet 

_As at 31 December 2022_ 

|Balance sheet<br>_As at 31 December 2022_||||||
|---|---|---|---|---|---|
||||**2022**||2021|
||_Notes_|**£**|**£**|£|£|
|**Fixed assets**||||||
|Tangible assets|_15_||**1,811**||4,876|
|Investments|_16_||**10,001,340**||7,560,269|
||||**_______ _**||________|
||||**10,003,151**||7,565,145|
|**Current assets**||||||
|Debtors|_17_|**45,107**||434,975||
|Cash in bank - deposit accounts||**2,321,036**||1,660,900||
|Cash in bank - current accounts||**860,760**||966,813||
|Cash in hand||**73**||32||
|||**________**||________||
|**Total current assets**||**3,226,976**||3,062,720||
|**Creditors: amounts falling due within**||||||
|**one year**|_18_|**(107,085)**||(45,701)||
|||**________**||________||
|**Net current assets**|||**3,119,891**||3,017,019|
||||**________**||________|
|**Net assets**|_20_||**13,123,042**||10,582,164|
|**Funds of the charity**||||||
|Endowment funds|_21_||**10,072,161**||7,968,150|
|Restricted funds|_22_||**2,473,165**||2,015,764|
|Unrestricted funds|_23_||**577,716**||580,548|
|Revaluation reserve|_23_||**-**||17,702|
||||**________**||________|
|**Total charity funds**|||**13,123,042**||10,582,164|



The financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the financial statements required by the Companies Act 2006 and are for circulation to the members of the company. 

Signed on behalf of the trustees by: 

## **Mr Graham Clarke** _Treasurer_ 

Approved and authorised for issue by the trustees on: 27 July 2023 

Company registration No. 04816191 

13 



## Cornwall Community Foundation 

## Statement of cash flows 

_For the year ended 31 December 2022_ 

|**2022**<br>_Notes_<br>**£**<br>**£**<br>£<br>**Cash flows from operating activities:**<br>Net cash provided by operating activities<br>_1_<br>**3,444,380**<br>**Cash flows from investing activities:**<br>Payments for purchase of fixed assets<br>**-**<br>(5,433)<br>Investment income received<br>**309,283**<br>263,508<br>Payments for purchase of investments<br>**(3,579,087)**<br>(803,495)<br>Proceeds from sale of investments<br>**379,548**<br>646,001<br>**________**<br>**________**<br>Net cash (used in)/provided by investing<br>activities<br>**(2,890,256)**<br>**Change in cash and cash equivalents**<br>**in the reporting period**<br>**554,124**<br>Cash and cash equivalents at the<br>beginning of the reporting period<br>**2,627,745**<br>**Cash and cash equivalents at the end**<br>**of the reporting period**<br>**3,181,869**<br>**Represented by:**<br>**£**<br>Deposit accounts<br>**2,321,036**<br>Current accounts<br>**860,760**<br>Cash in hand<br>**73**<br>**3,181,869**|2021<br>£<br>387,273<br>100,581<br>487,854<br>2,139,891<br>2,627,745<br>£<br>1,660,900<br>966,813<br>32<br>2,627,745|
|---|---|



14 



## Cornwall Community Foundation 

## Notes to the statement of cash flows 

_For the year ended 31 December 2022_ 

## **1 Reconciliation of net income to net cash provided by operating activities** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|Net income for the reporting period (as per the statement of|||
|financial activities)|**2,540,878**|1,712,869|
|_Adjusted for:_|||
|Depreciation|**3,065**|2,435|
|Investment income|**(309,283)**|(263,508)|
|Losses/(gains) on investments|**758,468**|(773,867)|
|Decrease/(increase) in debtors|**389,868**|(314,529)|
|Increase in creditors within one year|**61,384**|23,873|
||**________**|________|
|**Net cash provided by operating activities**|**3,444,380**|387,273|



15 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **1 General information** 

The company is incorporated as a company limited by guarantee and does not have share capital.  In the event of the company being wound up each member is liable to contribute a sum not exceeding £10 towards the debts and liabilities of the company and the costs, charges and expenses of winding up. There were 16 members at 31 December 2022 (2021: 15). 

## **2 Summary of significant accounting policies** 

## **2.1** _**Accounting convention**_ 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS 102)) and the Companies Act 2006. 

Cornwall Community Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are prepared in Sterling which is the functional currency of the charity and rounded to the nearest £. 

## **2.2** _**Income**_ 

Incoming resources including grants receivable are accounted for in the period in which the charitable company is entitled to receipt. 

No amount is included in the financial statements for volunteers’ time in line with the SORP (FRS102). 

## **2.3** _**Bequests and legacies**_ 

A legacy or bequest is recognised in the financial statements when the certainty of receipt and the amount receivable has been established. 

## **2.4** _**Expenditure**_ 

Expenditure is included on an accruals basis. The irrecoverable element of VAT is included with the item of expense to which it relates. 

Certain expenditure is directly attributable to specific activities and has been included in those cost categories.  Other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities. 

Grants payable are charged in the period when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled.  Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure. 

## **2.5** _**Unrestricted and designated funds**_ 

These funds have been made available to the trustees without specific conditions.  The use of unrestricted funds is entirely at the discretion of the trustees. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 

## **2.6** _**Restricted funds**_ 

These funds are made available to the trustees with specific conditions imposed by the donors as to the nature of their use. 

16 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **2.7** _**Endowment funds**_ 

These include a permanent endowment fund which is to be held permanently and only the income from it is used for charitable activities.  Expendable endowment funds are primarily held to provide income but the trustees also have the option to spend the fund capital on charitable activities. 

## **2.8** _**Transfers**_ 

Transfers are made when appropriate from a specific fund to recover costs incurred not charged directly to that fund. 

## **2.9** _**Taxation**_ 

The company is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the test set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 

## **2.10** _**Employee benefits**_ 

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. 

The charity operates a defined contribution pension plan for the benefit of its employees.  Contributions are expensed as they become payable. 

## **2.11** _**Tangible fixed assets**_ 

Tangible fixed assets are stated at costs (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. 

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: 

Fixtures, fittings & equipment 3 years 

## **2.12** _**Fixed asset investments**_ 

Investments are stated in the financial statements at fair/market value.  Unrealised gains on investments are calculated by reference to the difference between fair/market value from one year to the next. Realised gains or losses are calculated by reference to the difference between proceeds of sale and the carrying value of the investment at the previous year end. 

## **2.13** _**Debtors and creditors**_ 

Debtors receivable and creditors payable within one year are recorded at transaction price. 

## **2.14** _**Operating leases**_ 

Rental charges are charged in the statement of financial activities on a straight line basis over the life of the lease. 

17 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

|**3**<br>**Donations and legacies**<br>Endowment<br>funds<br>£<br>Legacies<br>75,000<br>Donations and grants (see<br>note 4)<br>2,783,804<br>Friends<br>-<br>Gift Aid<br>26,250<br>________<br>2,885,054<br>For the year ended 31<br>December 2021<br>616,410|Restricted<br>funds<br>Unrestricted<br>funds<br>£<br>£<br>10,000<br>-<br>2,835,251<br>26,835<br>-<br>28,482<br>649<br>59,046<br>________<br>________<br>2,845,900<br>114,363<br>2,737,351<br>118,564|**2022**<br>**£**<br>**85,000**<br>**5,645,890**<br>**28,482**<br>**85,945**<br>**________**<br>**5,845,317**|2021<br>£<br>331,018<br>2,993,785<br>27,332<br>120,190<br>________<br>3,472,325|
|---|---|---|---|
||||3,472,325|



Cornwall Council – grants have been received totalling £472,998 (2021: £630,750).  The grants received in 2022 are to support the charity’s efforts within the Winter Fuel Payments, Cost of Living Crisis, HeadStart Mental Health Kernow, Welcome Fund and Adult Social Care funds. 

18 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **4 Donations and grants** 

||Endowment|Restricted|Unrestricted|||
|---|---|---|---|---|---|
||funds|funds|funds|**2022**|2021|
||£|£|£|**£**|£|
|_Grants and donations received:_||||||
|CCF Community Fund|-|150,614|-|**150,614**|61,578|
|_Renewables (wind and solar)_||||||
|Boyton Solar and Wind Farms|-|10,522|-|**10,522**|9,518|
|East Langford Solar Farm|-|43,332|-|**43,332**|29,844|
|Goonhilly Wind Farm|-|66,592|-|**66,592**|61,918|
|Kala Power Ltd|-|39,174|-|**39,174**|34,050|
|Luxulyan Parish Council|-|13,210|-|**13,210**|11,759|
|Manor Solar Farm|-|43,346|-|**43,346**|30,214|
|Papillon Turbine Fund|-|8,000|-|**8,000**|7,800|
|Ruth Burden Community Trust Fund|4,000|6,000|-|**10,000**|9,750|
|Trenouth Solar Farm|-|19,475|-|**19,475**|16,935|
|_Other_||||||
|Adult Social Care|-|25,000|-|**25,000**|100,000|
|Arts Council England Queen’s Platinum||||||
|Jubilee Weekend Fund|-|39,745|-|**39,745**|-|
|AVdB/Hartley Fund|50,000|125|-|**50,125**|-|
|Amaranth Fund|-|-|-|**-**|6,800|
|Bude Endowment Fund|60,000|-|-|**60,000**|-|
|Business Club|-|42,423|-|**42,423**|34,868|
|Business Support Grants Fund|-|44,952|-|**44,952**|-|
|Caradon Area Community Fund|-|-|-|**-**|-|
|Carew Pole Charitable Trust|-|19,470|-|**19,470**|13,717|
|Charles Reynolds Fund|-|50|-|**50**|40,000|
|Churchtown Farm|-|8,600|-|**8,600**|-|
|Clare Milne Fund|-|10,000|-|**10,000**|10,000|
|Commissioner’s Community Grant Scheme|-|128,000|-|**128,000**|30,000|
|Cornish Lithium|-|20,000|-|**20,000**|-|
|Cornwall Club|-|108,016|-|**108,016**|82,338|
|Cornwall Crimebeat Fund|-|1,400|-|**1,400**|4,684|
|Cornwall Glass and Glazing|20,000|5,500|-|**25,500**|7,150|
|Cornwall Women's Fund|-|7,480|-|**7,480**|10,079|
|Cornwall’s Social Enterprise Fund|-|212,000|-|**212,000**|828,000|
|Cost of Living Crisis Fund|-|557,405|-|**557,405**|-|
|Crisis Fund|-|60,773|-|**60,773**|60,442|
|Duke of Cornwall’s Marine & Environmental||||||
|Fund|-|100,000|-|**100,000**||
|Emergency Fund|-|-|-|**-**|6,456|
|Emergency Fund - Build Back Better|-|2,100|-|**2,100**|441,786|
|Harrison Family Fund|100,000|-|-|**100,000**|-|
|Headland Hotel|-|-|-|**-**|10,164|
|HeadStart Kernow Mental Health||||||
|Programme|-|90,373|-|**90,373**|46,030|
||________|________|________|**________**|________|
|Subtotal carried forward|234,000|1,883,677|-|**2,117,677**|2,182,540|



19 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **4 Donations and grants (continued)** 

|Endowment<br>funds<br>£<br>Subtotal brought forward<br>234,000<br>Made by Sport – Clubs in Crisis<br>-<br>Mining District Fund<br>42,242<br>North Cornwall Area Fund<br>2,562<br>North Petherwin Community Fund<br>-<br>Police Property Act Fund<br>-<br>Public Health Community Fund<br>-<br>Sedel-Collings Foundation<br>-<br>South West Enterprise Fund<br>-<br>Surviving Winter<br>-<br>Tanner Phoenix Trust<br>2,400,000<br>The Caledonia Investments Charitable<br>Fund<br>-<br>The Trewithen Fund<br>-<br>The Viscountess Boyd Charitable Trust<br>-<br>The Worval Foundation<br>-<br>Welcome Fund<br>-<br>Young Carers<br>-<br>Young and Talented<br>-<br>Young Minds First<br>105,000<br>#iwill campaign<br>-<br>Other (individually £5,000 or less)<br>-<br>General / Unrestricted donations<br>-<br>________<br>2,783,804<br>For the year ended 31 December 2021<br>258,910|Restricted<br>funds<br>Unrestricted<br>funds<br>£<br>£<br>1,883,677<br>-<br>-<br>-<br>-<br>-<br>13,793<br>-<br>5,395<br>-<br>48,020<br>-<br>-<br>-<br>200,000<br>-<br>-<br>-<br>266,137<br>-<br>100,000<br>-<br>82,500<br>-<br>2,850<br>-<br>-<br>-<br>67,900<br>-<br>36,375<br>-<br>10,000<br>-<br>42,833<br>-<br>-<br>-<br>65,670<br>-<br>10,101<br>-<br>-<br>26,835<br>________<br>________<br>2,835,251<br>26,835<br>2,712,720<br>22,155|**2022**<br>**£**<br>**2,117,677**<br>**-**<br>**42,242**<br>**16,355**<br>**5,395**<br>**48,020**<br>**-**<br>**200,000**<br>**-**<br>**266,137**<br>**2,500,000**<br>**82,500**<br>**2,850**<br>**-**<br>**67,900**<br>**36,375**<br>**10,000**<br>**42,833**<br>**105,000**<br>**65,670**<br>**10,101**<br>**26,835**<br>**________**<br>**5,645,890**|2021<br>£<br>2,182,540<br>58,525<br>-<br>12,926<br>-<br>-<br>258,750<br>-<br>50,000<br>176,660<br>-<br>75,000<br>6,030<br>16,372<br>83,000<br>-<br>-<br>8,040<br>210,000<br>650<br>9,797<br>22,155<br>________<br>2,993,785|
|---|---|---|---|
||||2,993,785|



## **5 Income from trading activities** 

|Fundraising events<br>Sundry income<br>For the year ended 31 December 2021|Restricted<br>funds<br>Unrestricted<br>funds<br>£<br>£<br>7,000<br>-<br>-<br>3,564<br>________<br>________<br>7,000<br>3,564<br> <br> <br>2,000<br>4,108<br> <br>|**2022**<br>**£**<br>**7,000**<br>**3,564**<br>________<br>**10,564**|2021<br>£<br>2,000<br>4,108<br>________<br>6,108|
|---|---|---|---|
||||6,108|



20 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **6 Investment income** 

|Endowment<br>funds<br>£<br>Bank interest<br>-<br>Listed investment income<br>10,425<br>Other investment income<br>4,780<br>________<br>15,205<br> <br>For the year ended 31 December 2021<br>17,583<br> <br>**7**<br>**Expenditure on raising funds**<br>Endowment<br>funds<br> <br>£<br>Wages and salaries (note 13)<br>-<br>Marketing and publicity costs<br>-<br>________<br>**-**<br>For the year ended 31 December 2021<br>-|Restricted<br>funds<br>Unrestricted<br>funds<br>£<br>£<br>3,898<br>4,959<br>219,727<br>6,801<br>58,693<br>-<br>________<br>________<br>282,318<br>11,760<br> <br> <br>236,758<br>9,167<br> <br> <br>Restricted<br>funds<br>Unrestricted<br>funds<br>£<br>£<br>-<br>79,720<br>15,800<br>9,911<br>________<br>________<br>15,800<br>89,631<br> <br> <br>3,642<br>80,069|**2022**<br>**£**<br>**8,857**<br>**236,953**<br>**63,473**<br>**________**<br>**309,283**<br>**2022**<br>**£**<br>**79,720**<br>**25,711**<br>________<br>**105,431**|2021<br>£<br>1,979<br>199,345<br>62,184<br>________<br>263,508|
|---|---|---|---|
||||263,508<br>|
||||2021<br>£<br>70,870<br>12,841<br>________<br>83,711|
||||83,711|



Wages and salaries are allocated between “Expenditure on raising funds” and “Charitable activities” following a review of staff time spent on each activity. 

## **8 Expenditure on charitable activities** 

|Endowment<br>funds<br>£<br>Grants payable (note 9)<br>2,600<br>Support costs (note 10)<br>-<br>________<br>2,600<br>For the year ended 31 December 2021<br>-|Restricted<br>funds<br>Unrestricted<br>funds<br>£<br>£<br>2,361,327<br>-<br>1,957<br>394,503<br>________<br>________<br>2,363,284<br>394,503<br>2,439,138<br>280,090|**2022**<br>**£**<br>**2,363,927**<br>**396,460**<br>________<br>**2,760,387**|2021<br>£<br>2,421,868<br>297,360<br>________<br>2,719,228<br>2,719,228|
|---|---|---|---|



21 



## Cornwall Community Foundation 

## Notes 

## _(forming part of the financial statements)_ 

## **9 Grants payable** 

|**Grants payable**|||
|---|---|---|
||**2022**|2021|
||**£**|£|
|CCF Community Fund|**115,730**|73,890|
|_Renewables (wind and solar)_|||
|Boyton Solar and Wind Farms|**3,133**|2,448|
|East Langford Solar Farm|**22,941**|43,119|
|Goonhilly Wind Farm Community Fund|**42,865**|16,002|
|Kala Power Limited|**23,000**|-|
|Luxulyan Parish Council|**15,734**|11,687|
|Manor Solar Farm|**34,788**|15,346|
|North Petherwin Community Fund|**4,450**|13,425|
|Papillon Turbine Fund|**7,177**|3,400|
|Ruth Burden Community Trust Fund|**-**|3,099|
|Trenouth Solar Farm|**20,000**|34,996|
|United Downs Geothermal Community Fund|**-**|7,918|
|_Other_|||
|Adult Social Care|**101,700**|-|
|Amaranth Fund|**9,500**|6,200|
|Arts Council England Queen’s Platinum Jubilee Weekend Fund|**39,744**|-|
|AVdB/Hartley Fund|**24,885**|4,184|
|Benefitting Older People|**-**|949|
|Bosvigo School Fund|**-**|7,320|
|Bright Futures Grant|**2,125**|854|
|Bruce Davis Trust Fund|**-**|5,100|
|Bude Area Fund|**1,500**|5,000|
|Business Club|**35,021**|39,000|
|Business Support Grants Fund|**31,431**|-|
|Caradon Area Community Fund|**19,841**|(2,000)|
|Carew Pole Charitable Trust|**12,200**|12,470|
|Charles Reynolds Fund|**17,448**|16,473|
|Clare Milne Fund|**7,500**|6,638|
|Commissioner’s Community Grant Scheme|**111,304**|26,087|
|Cornish Lithium|**17,000**|-|
|Cornwall Glass and Glazing Fund|**19,660**|-|
|Cornwall Women’s Fund|**19,716**|5,411|
|Cornwall’s Social Enterprise Fund|**327,630**|189,775|
|Cost of Living Crisis Fund|**300,989**|-|
|Crisis Fund|**56,773**|84,742|
|Emergency Fund|**20,000**|514,491|
|Emergency Fund - Build Back Better|**106,252**|577,756|
|Emily Bolitho Trust Fund|**6,217**|7,433|
|Goldsmiths Fund for the Elderly|**-**|275|
|Headland Hotel|**-**|9,845|
|HeadStart Kernow Mental Health|**119,415**|124,890|
|Karenza Fund|**13,590**|12,682|
|Lanherne Fund|**2,000**|-|
|Made by Sport – Clubs in Crisis|**-**|54,051|
|Mining District Fund|**-**|3,253|
|North Cornwall Area Fund|**10,193**|22,194|
|Penwith and Isles of Scilly Area Community Fund|**6,402**|25,755|
||________|________|
|Subtotal carried forward|**1,729,854**|2,069,172|



22 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **9 Grants payable (continued)** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|Subtotal brought forward|**1,729,854**|2,069,172|
|Public Health Community Fund|**-**|225,000|
|Royston Leigh|**-**|2,000|
|Sedel-Collings Foundation|**33,000**|-|
|South-Wesr Enterprise Fund|**5,871**|-|
|Surviving Winter|**258,048**|25,240|
|Tanner Phoenix Trust|**25,000**|-|
|The Caledonian Investments Charitable Foundation|**124,227**|-|
|The Jack Moon and Lors Trust|**2,500**|2,750|
|The Quinnian Fund|**2,600**|-|
|The Worval Foundation|**83,697**|72,788|
|Trewithen Fund|**-**|20,000|
|Tuppenny Fund|**14,590**|16,521|
|Viscountess Boyd Charitable Trust|**23,018**|28,724|
|Welcome Fund|**9,107**|-|
|Young and Talented|**36,401**|27,900|
|Young Carers|**12,037**|1,150|
|Young Minds First|**6,454**|-|
|#iwill campaign|**(2,477)**|13,637|
||**_______**|_______|
||**2,363,927**|2,421,868|



23 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

|**10**|**Support costs**|||
|---|---|---|---|
|||**2022**|2021|
|||**£**|£|
||Rent and rates, light and heat|**11,373**|11,457|
||Wages and salaries (note 13)|**280,131**|223,830|
||Training and other staff costs|**14,607**|8,345|
||Travel and meeting costs|**19,254**|5,739|
||Office equipment hire|**1,648**|2,142|
||Computer and software costs|**10,721**|6,838|
||Office costs and insurance|**13,017**|5,855|
||Postage and telephone|**7,138**|5,503|
||Publicity and website costs|**3,786**|1,400|
||Accountancy|**4,455**|4,400|
||Consultancy and professional fees|**8,445**|294|
||Subscriptions|**13,043**|13,487|
||Bank charges and interest|**1,727**|1,635|
||Governance (note 11)|**4,050**|4,000|
||Depreciation|**3,065**|2,435|
|||________|________|
|||**396,460**|297,360|



The allocation of support costs for grants and associated costs is £194,773 (2021: £142,733) and for governance, finance and admin support is £201,687 (2021: £154,627). 

## **11 Governance** 

|Audit fees<br>**12**<br>**Net movement in funds**<br>_Is stated after charging:_<br>Auditors remuneration  – audit<br>Auditors remuneration   – other services<br>Operating lease rentals  – equipment<br>– property|**2022**<br>**£**<br>**4,050**<br>**2022**<br>**£**<br>**4,050**<br>**4,455**<br>**2,540**<br>**9,300**|2021<br>£<br>4,000<br>2021<br>£<br>4,000<br>4,400|
|---|---|---|
|||3,034<br>9,300|



24 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

|**13**|**Staff costs**|||
|---|---|---|---|
|||**2022**|2021|
|||**£**|£|
||Wages and salaries|**321,466**|265,240|
||Social security costs|**26,703**|21,602|
||Pension costs|**11,682**|7,858|
|||**________**|________|
|||**359,851**|294,700|



An average of 12 (2021: 10) employees were employed on charitable and related activities during the year. 

The charity operates a defined contribution pension scheme.  The pension costs for the year represent contributions payable by the charity to the independently administered pension fund. There were contributions totalling £1,881 payable at the year end (2021: £1,492). 

The directors (trustees under charity law) received no remuneration. 

No employee received remuneration in excess of £60,000. 

Total key management personnel benefits received in the year were £61,526 (2021: £57,182). 

## **14 Transactions with trustees and connected persons** 

Due to the nature of the charity’s operations and composition of the trustees, it is inevitable that transactions will take place with organisations and individuals in which a trustee or persons connected with them, may have an interest.  Trustees do not vote on any decision made regarding grants payable to organisations in which they have an interest. 

No trustees claimed travelling expenses during the year (2021: None). 

The total amount donated to the charity by trustees in the year was £11,358 (2021: £15,895). 

## **15 Tangible assets** 

|**Fixtures,**<br>**fittings and**<br>**equipment**<br>**£**<br>**_Cost_**<br>At 1 January 2022<br>8,250<br>Additions<br>-<br>________<br>**At 31 December 2022**<br>8,250<br>**_Depreciation_**<br>At 1 January 2022<br>3,374<br>Depreciation<br>3,065<br>________<br>**At 31 December 2022**<br>6,439<br>**_Net book value_**<br>**At 31 December 2022**<br>**1,811**<br>At 31 December 2021<br>4,876|**Total**<br>**£**<br>8,250<br>-<br>________<br>8,250<br>3,374<br>3,065<br>________<br>6,439<br>**1,811**<br>4,876|
|---|---|



25 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **16 Investments** 

|**Charifund &**<br>**Charibond**<br>**£**<br>**_Valuation_**<br>At 1 January 2022<br>4,267,504<br>Additions<br>1,514,316<br>Disposals<br>(411,991)<br>Revaluation<br>(257,704)<br>________<br>**At 31 December 2022**<br>**5,112,125**<br>**_Cost_**<br>At 31 December 2022<br>5,199,981<br>At 31 December 2021<br>4,046,701|**COIF**<br><br>**£**<br>3,292,765<br>1,414,771<br>(18,512)<br>(444,260)<br>________<br>**4,244,764**<br>3,566,292<br>2,170,033|**Foresight**<br>**Total**<br>**£**<br>**£**<br>-<br>7,560,269<br>650,000<br>3,579,087<br>-<br>(430,503)<br>(5,549)<br>(707,513)<br>________<br>________<br>**644,451**<br>**10,001,340**<br>650,000<br>9,416,273<br>-<br>6,216,734|
|---|---|---|



Charifund and Charibond investments are held with M & G Investments in Equities Investment Fund for Charities and Charities Fixed Interest Common Investment Fund. 

COIF investments are held with CCLA in COIF Charities Investment Fund Income Units. 

Foresight investments are held with Foresight Partners Limited in Foresight Global Real Infrastructure Fund. 

## **17 Debtors** 

|Other debtors and prepayments<br>**18**<br>**Creditors: amounts falling due within one year**<br>Taxation and social security<br>Other creditors<br>Accruals<br>Deferred income (note 19)|**2022**<br>**£**<br>**45,107**<br>**2022**<br>**£**<br>**7,373**<br>**1,881**<br>**22,900**<br>**74,931**<br>**________**<br>**107,085**<br>|2021<br>£<br>434,975<br>2021<br>£<br>5,750<br>1,492<br>26,459<br>12,000<br>________<br>45,701|
|---|---|---|



26 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **19 Deferred income** 

|Balance at 1 January 2022<br>Amount released to incoming resources<br>Deferred in year<br>**Balance at 31 December 2022**|**2022**<br>**£**<br>**12,000**<br>**(12,000)**<br>**74,931**<br>**________**<br>**74,931**<br>|2021<br>£<br>-<br>-<br>12,000<br>________<br>12,000|
|---|---|---|



The deferred income balance includes income received during the year for events which are due to take place in 2023. 

## **20 Analysis of net assets between funds** 

||**Endowment**|**Restricted**|**Unrestricted**||
|---|---|---|---|---|
||**funds**|**funds**|**funds**|**Total**|
||**£**|**£**|**£**|**£**|
|Fixed assets|9,882,746|118,295|2,110|10,003,151|
|Current assets|189,415|2,429,801|607,760|3,226,976|
|Current liabilities|-|(74,931)|(32,154)|(107,085)|
||________|________|________|________|
||10,072,161|2,473,165|577,716|13,123,042|



27 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **21 Endowment funds** 

|**Endowment funds**||||
|---|---|---|---|
||Brought|Movement|**Carried**|
||forward|in year|**forward**|
||£|£|**£**|
|_Permanent Endowments:_||||
|AVdB/Hartley Fund|36,132|120,731|**156,863**|
|Business Club|48,623|(3,505)|**45,118**|
|Caradon Area Community Fund|262,657|(20,075)|**242,582**|
|Community First - AVdB/Hartley Fund|521,661|(61,309)|**460,352**|
|Community First - Crisis Fund|75,261|(8,845)|**66,416**|
|Community First - Dennis Arbon Fund|262,062|(30,799)|**231,263**|
|Community First - Emily Bolitho Trust Fund|539,848|(63,447)|**476,401**|
|Community First - Lord St Levan|313,298|(46,880)|**266,418**|
|Community First - Tregothnan Foundation|171,901|(20,203)|**151,698**|
|Community First Scheme|398,778|(36,806)|**361,972**|
|Cornwall Crimebeat|37,623|(2,875)|**34,748**|
|Cornwall Glass and Glazing|183,820|(14,048)|**169,772**|
|Friends of Cornwall Community Foundation|35,020|(2,494)|**32,526**|
|Grassroots Fund|82,654|(6,315)|**76,339**|
|Mining District Fund|38,020|(2,975)|**35,045**|
|Penwith and Isles of Scilly Area Community Fund|277,233|(18,666)|**258,567**|
|Quinnian Fund|30,518|(2,333)|**28,185**|
|Reg Windpower|27,259|(2,084)|**25,175**|
|Royston Leigh Fund|62,511|(4,776)|**57,735**|
|The Eddie and Vanessa George Memorial Fund|38,539|(2,952)|**35,587**|
|The Jack Moon and Lors Trust|126,823|(9,703)|**117,120**|
|Tuppenny/China Clay Fund|508,223|(38,837)|**469,386**|
|Other Funds|9,269|(710)|**8,559**|
||4,087,733|(279,906)|**3,807,827**|
||_______|________|_______|
|_Expendable Endowments:_||||
|Amaranth Fund|121,211|(9,264)|**111,947**|
|Bruce Davis Trust|111,296|(8,505)|**102,791**|
|Bude Endowment Fund|-|88,030|**88,030**|
|CCF Community Fund|149,036|(12,009)|**137,027**|
|Cornwall Crimebeat|15,052|(1,150)|**13,902**|
|Cornwall Glass and Glazing|17,014|12,986|**30,000**|
|Development Endowment Fund|41,111|(29,824)|**11,287**|
|Harrison Family Fund|-|147,954|**147,954**|
|HeadStart Kernow Mental Health Fund|64,709|(64,709)|**-**|
|Healeys Charitable Trust Fund|71,243|(5,671)|**65,572**|
|Karenza Endowment Fund|363,781|(27,799)|**335,982**|
|Lanherne Fund|134,148|(9,533)|**124,615**|
|Lilian Simons Legacy Fund|295,000|(142,355)|**152,645**|
|Mining District Fund|4,324|62,214|**66,538**|
|North Cornwall Area Fund|146,371|(7,708)|**138,663**|
|Patrixbourne Fund|219,277|(16,759)|**202,518**|
|Ruth Burden Community Trust|34,000|12,000|**46,000**|
|Tanner Phoenix Fund|-|2,362,923|**2,362,923**|
|Terence Beer Trust|25,531|(1,951)|**23,580**|
|The Trewithen Fund|236,093|(17,603)|**218,490**|
|Tregothnan Expendable Endowment|55,839|1,158|**56,997**|
|Viscountess Boyd Charitable Trust|1,002,362|(78,378)|**923,984**|
|The Worval Foundation|153,686|4,585|**158,271**|
|Young and Talented|366,054|(31,320)|**334,734**|
|Young Minds First|247,500|158,559|**406,059**|
|Other Funds|5,779|(1,954)|**3,825**|
||3,880,417|2,383,917|**6,264,334**|
||________|________|________|
||7,968,150|2,104,011|**10,072,161**|



28 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **21 Endowment funds (continued)** 

## _Permanent Endowments:_ 

**AVdB/Hartley Fund** – donor directed fund for community projects generally in Newquay area **Business Club –** awards to community projects across Cornwall **Caradon Area Community Fund** – legacy fund for community projects in SE Cornwall **Community First - AVdB/Hartley Fund** - donor directed fund for community projects generally in Newquay area **Community First - Crisis Fund** – trust transfer: emergency support for single parents **Community First - Dennis Arbon Fund** – donor directed fund for apprenticeships **Community First - Emily Bolitho Trust Fund** – trust transfer to meet community needs in Penzance and surrounds **Community First – Lord St Levan -** legacy fund for the relief of poverty and hardship, and for crisis intervention **Community First - Tregothnan Foundation** – donor directed fund **Community First Scheme** – government match funding challenge for charitable donations **Cornwall Crimebeat -** fund to support projects that help to reduce offending in Cornwall and the Isles of Scilly **Cornwall Glass and Glazing** – donor directed fund for community projects across Cornwall **Friends of Cornwall Community Foundation** – CCF’s membership scheme **Grassroots Fund** – government match challenge fund (closed) **Mining District Fund** – donor directed fund for community projects in the old district of Kerrier **Penwith and Isles of Scilly Area Community Fund** – donated fund for community projects in West Cornwall and the Isles of Scilly **Quinnian Fund** – donor directed fund for community projects **REG Windpower** –community benefit fund for projects in the TR12 postcode area **Royston Leigh Fund** – donor directed fund for community projects 

**The Eddie and Vanessa George Memorial Fund** – memorial fund for Lord and Lady George, to help groups train in information technology **The Jack Moon and Lors Trust** – to support voluntary activities in Lostwithiel and St Winnow **Tuppenny/China Clay Fund** – donated fund for community projects in the Clay Area **Other funds** – other smaller funds for the charity’s objectives 

## _Expendable Endowments:_ 

**Amaranth Fund** – this fund welcomes applications from projects on the Roseland, but also considers Falmouth and St Austell areas 

**Bruce Davis Trust Fund Endowment** – donor directed fund for community projects across Cornwall. **Bude Endowment Fund –** donor-directed fund for community projects in the Bude area – and may consider applications from outside the Bude area. 

**CCF Community Fund** - the CCF’s own fund for community projects 

**Cornwall Crimebeat -** fund to support projects that help to reduce offending in Cornwall and the Isles of Scilly **Cornwall Glass and Glazing** - donor directed fund for community projects across Cornwall **Development Endowment Fund** – the CCF’s general fund for community projects 

**Harrison Family Fund –** a community fund for the benefit of Cornwall and the Isles of Scilly **HeadStart Kernow Mental Health Fund -** Headstart Kernow is a National Lottery Funded Partnership Programme with Cornwall Council to support young people aged 10-16 to cope better with difficult circumstances, preventing them from experiencing common mental health problems. Young People’s Mental Health Fund Expendable Endowment, and some of the flowthrough funds were transferred to the Headstart Kernow Mental Health Fund 

**Healeys Charitable Trust Fund –** the fund welcomes applications from entrepreneurial young people to support their business ideas with grant funding 

**Karenza Endowment Fund** – to improve care for children and young people with special needs or disability **Lanherne Fund** - aims to support community initiatives which focus on managing and improving the natural environment in Cornwall and Isle of Scilly. 

**Lilian Simons Legacy Fund** – to provide match-funding for new endowment donations received. **Mining District Fund** – donor directed fund for community projects in the old district of Kerrier 

**North Cornwall Area Fund** – endowment to attract donors within the North Cornwall area to donate to a specific area in which they are passionate 

**Patrixbourne Fund –** community projects across Cornwall through CCF’s community fund 

**Ruth Burden Community Trust –** donor directed fund for community projects within the parishes of Launceston South and Central, Lawhitton, South Petherwin and Lezant 

29 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **21 Endowment funds (continued)** 

**Tanner Phoenix Fund –** donor-directed fund for community projects (across Cornwall and the Isles of Scilly) – and may consider applications from outside of Cornwall. 

**Terence Beer Trust** – aims to help provide support for disadvantaged children and young people, primary age between 11-25 years of age but not exclusively, who are unable to achieve their potential due to financial circumstances. 

**The Trewithen Fund** – this fund welcomes applications from projects enabling volunteers to assist young people who are not achieving their full potential 

**Tregothnan Expendable Endowment** – donor directed fund for emergency assistance. 

**Viscountess Boyd Charitable Trust –** This fund welcomes applications from South East Cornwall. The Fundholders may consider other applications from Cornwall and outside of Cornwall. Priority will be given to organisations working on church restoration, mental wellbeing, gardening and horticultural projects. 

**The Worval Foundation** – aims to help provide opportunities for young disadvantaged people, primarily aged between 11-15 years of age but not exclusively, who are on the edge of exclusion from school or are finding it hard to cope, possibly due to an illness, learning difficulties or life circumstances 

**Young and Talented** – fund administered by the CCF on behalf of the Lord Lieutenant for talented young people in Cornwall and the Isles of Scilly 

**Young Minds First -** to support projects in Cornwall and the Isles of Scilly who are working with children and young people up to 18 years of age to support their emotional wellbeing and those suffering with or at severe risk of mental health difficulties 

**Other funds** – other smaller funds for charitable objectives 

30 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **22 Restricted funds** 

|**Restricted funds**||||
|---|---|---|---|
||Brought|Movement|**Carried**|
||forward|in year|**forward**|
||£|£|**£**|
|Adult Social Care|100,000|(100,000)|**-**|
|Amaranth Fund|9,081|(7,325)|**1,756**|
|AVdB/Hartley Fund|24,898|(13,881)|**11,017**|
|Boyton Solar and Wind Farm Community Fund|51,950|7,333|**59,283**|
|Bude Area Fund|595|4,264|**4,859**|
|Business Club|5,834|(962)|**4,872**|
|Caledonia Investments Charitable Foundation|75,000|(60,360)|**14,640**|
|Caradon Area Community Fund|16,784|(14,021)|**2,763**|
|CCF Community Fund|45,090|87,090|**132,180**|
|CCF Endowment Match Funding|-|60,964|**60,964**|
|Charles Reynolds Fund|21,880|(19,143)|**2,737**|
|Cornwall Club|68|51|**119**|
|Cornwall Crimebeat Fund|13,931|(10,420)|**3,511**|
|Cornwall Women's Fund|26,314|(10,898)|**15,416**|
|Cornwall’s Social Enterprise Fund|609,971|(162,931)|**447,040**|
|Cost of Living Crisis Fund|-|114,649|**114,649**|
|Crisis Fund|34,325|21,323|**55,648**|
|Denis Arbon Fund|9,273|4,337|**13,610**|
|Duke of Cornwall’s Marine & Environmental Fund|-|100,000|**100,000**|
|East Langford Solar Farm|33,838|9,343|**43,181**|
|Emergency Fund|21,235|22,232|**43,467**|
|Emergency Fund – Build Back Better|94,137|(93,055)|**1,082**|
|Emily Bolitho Trust Fund|15,128|1,784|**16,912**|
|Goonhilly Wind Farm Community Fund|65,082|14,549|**79,631**|
|Headstart Kernow Mental Health|27,738|(27,738)|**-**|
|Healeys Entrepreneurs Fund|5,767|2,134|**7,901**|
|Kala Power Limited (was Howton Solar Farm)|62,615|13,441|**76,056**|
|Karenza Fund|8,950|(4,821)|**4,129**|
|Lanherne Fund|6,570|1,467|**8,037**|
|Lord St Levan Fund|15,869|(15,869)|**-**|
|Luxulyan Parish Council|31,071|(4,097)|**26,974**|
|Manor Farm Solar|48,016|(2,465)|**45,551**|
|North Cornwall Area Fund|10,951|6,175|**17,126**|
|North Petherwin Community Fund|29,765|1,157|**30,922**|
|Penwith and Isles of Scilly Area Community Fund|3,062|6,290|**9,352**|
|Police Property Act Fund|-|48,020|**48,020**|
|Royston Leigh Fund|2,968|1,544|**4,512**|
|Sedel-Collings Foundation|-|262,050|**262,050**|
|South West Enterprise Fund|50,000|(6,604)|**43,396**|
|Surviving Winter|175,252|(17,795)|**157,457**|
|Tampon Tax Fund|1,406|-|**1,406**|
|Tanner Phoenix Trust|-|66,365|**66,365**|
|Terence Beer Trust|2,717|(2,277)|**440**|
|Trenouth Solar Farm|36,757|(1,666)|**35,091**|
|Trewen Fund|34,147|(1,565)|**32,582**|
|Trewithen Fund|4,595|(220)|**4,375**|
|Tuppenny Fund|15,872|(951)|**14,921**|
|Viscountess Boyd Charitable Trust|9,686|5,293|**14,979**|
|Welcome Fund|-|26,354|**26,354**|
|The Worval Foundation|33,682|(24,485)|**9,197**|
|Young Carers|8,347|(3,772)|**4,575**|
|Young and Talented|24,525|50,744|**75,269**|
|Young Minds First|15,000|(9,672)|**5,328**|
|Young People’s Mental Health Fund|20,000|(20,000)|**-**|
|#iwill campaign (Youth Social Action Fund)|2,691|123,641|**126,332**|
|Other Funds|53,331|31,800|**85,131**|
||________|________|________|
||2,015,764|457,401|**2,473,165**|



31 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **22 Restricted funds (continued)** 

**Adult Social Care -** funded by Cornwall Council to reduce isolation and build confidence for adults, especially for adults who have been bereaved during the pandemic or have been self-isolating, with a focus on self-help and peer support to improve wellbeing **Amaranth Fund -** this fund welcomes applications from projects on the Roseland, but also considers Falmouth and St Austell areas **AVdB/Hartley Fund -** donor directed fund for community projects generally in Newquay area **Boyton Solar and Wind Farm Community Fund** – for community projects within Boyton parish **Bude Area Fund –** this fund welcomes applications from projects in and around the Bude area **Business Club** - awards to community projects across Cornwall **Caledonia Investments Charitable Foundation -** to support community projects in Cornwall and the Isles of Scilly which address the inter-related issues of financial planning, debt management and the financial education of adults and children **Caradon Area Community Fund** - legacy fund for community projects in SE Cornwall **CCF Community Fund** – the CCF’s own fund for community projects **CCF Endowment Match Funding –** to provide match-funding to encourage new endowment donations **Charles Reynolds Fund -** for the relief of generational poverty and the relief of those in need by reason of youth, age, ill health, disability, financial hardship or other disadvantage in Cornwall the Isles of Scilly **Cornwall Club** – the CCF’s philanthropy arm for those living outside Cornwall **Cornwall Crimebeat Fund** – fund to support projects that help to reduce offending in Cornwall and the Isles of Scilly **Cornwall Women’s Fund – t** he criteria are broad and similar to the Tampon Tax Fund - to support projects where women and girls are the main beneficiaries. **Cornwall’s Social Enterprise Fund -** to create employment, apprenticeships and training opportunities, and to improve skills leading to the development of services and products which maximise trade, reinvestment and sustainability **Cost of Living Crisis Fund –** will help local voluntary sector and community groups to deliver a range of activities to support people who have been adversely impacted by the significant rise to the cost of living. **Crisis Fund** – provides grant assistance to individuals, families and communities in crisis situations **Denis Arbon Fund** – donor directed fund **Duke of Cornwall’s Marine & Environmental Fund –** will support projects which address themes relating to community action, improving infrastructure and innovation. **East Langford Solar Farm** – community benefit fund for Kilkhampton, Launcells and Morwenstow **Emergency Fund** – fund to provide emergency support to those affected by natural crisis **Emergency Fund – Build Back Better -** to help Cornish communities survive the Coronavirus crisis and build back better for the future, including donations from Cornwall Council and he Department for Digital, Culture, Media and Sport (DCMS) **Emily Bolitho Trust Fund** – to support the wellbeing of individuals, especially those faced with hardship through poor health or low income, and for organisations that provide services to those facing hardship **Goonhilly Wind Farm Community Fund** – for community projects in the Goonhilly area **Headstart Kernow Mental Health** – HeadStart Kernow is a National Lottery Funded Partnership Programme, and is part of a national project to equip young people age 10-16 to cope better with difficult circumstances, preventing them from experiencing common mental health problems. **Healeys Entrepreneurs Fund** – the fund welcomes applications from entrepreneurial young people to support their business ideas with grant funding. **Kala Power Limited** – community benefit fund for 5 parishes in SE Cornwall **Karenza Endowment Fund** – to improve care for children and young people with special needs or disability **Lanherne Fund** – aims to support community initiatives which focus on managing and improving the natural environment in Cornwall and Isle of Scilly. **Lord St Levan Fund** – legacy fund for the relief of poverty and hardship, and for crisis intervention **Luxulyan Community Fund** – to support community projects within the parish of Luxulyan **Manor Farm Solar** – for community projects in the Burngullow/ St Austell area **North Cornwall Area Fund -** fund to attract donors within the North Cornwall area to donate to a specific area in which they are passionate **North Petherwin Community Fund** – for community projects in the parish of North Petherwin **Penwith and Isles of Scilly Area Community Fund** - donated fund for community projects in West Cornwall and the Isles of Scilly 

**Police Property Act Fund –** will focus on supporting communities to provide diversionary activities from drugs related anti-social behaviour. 

32 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **22 Restricted funds (continued)** 

**Royston Leigh Fund** – donor directed fund for community projects 

**Sedel-Collings Foundation –** supports local voluntary sector and community groups in Cornwall and IOS which work to improve the lives of people in their communities. 

**South West Enterprise Fund -** to support a variety of young Cornish people who do not have the initial starter funds to get their business idea off the ground 

**Surviving Winter** – special appeal fund for vulnerable and other people experiencing fuel poverty 

**Tampon Tax Fund** – The Tampon Tax Community Fund aims to support local organisations working with women who are most marginalised to overcome barriers that prevent them from fulfilling their potential 

**Tanner Phoenix Trust -** donor-directed fund for community projects (across Cornwall and the Isles of Scilly) – and may consider applications from outside of Cornwall. 

**Terence Beer Trust** – aims to help provide support for disadvantaged children and young people, primary age between 11-25 years of age but not exclusively, who are unable to achieve their potential due to financial circumstances 

**Trenouth Solar Farm** – community benefit fund for 4 parishes in North Cornwall 

**Trewen Fund** – community benefit fund for Trewen Parish 

**Trewithen Fund** – this fund welcomes applications from projects enabling volunteers to assist young people who are not achieving their full potential 

**Tuppenny Fund** – for community projects within the China Clay area 

**Viscountess Boyd Charitable Trust** – this fund welcomes applications from South East Cornwall. The Fundholders may consider other applications from Cornwall and outside of Cornwall. Priority will be given to organisations working on church restoration, mental wellbeing, gardening and horticultural projects **Welcome Fund –** provides financial support to refugees in Cornwall. 

**The Worval Foundation** – to help provide opportunities for young disadvantaged people, primarily aged between11-15 years of age but not exclusively, who are on the edge of exclusion from school or are finding it hard to cope, possibly due to an illness, learning difficulties or life circumstances 

**Young Carers** - provides support to young carers 

**Young and Talented** - fund administered by the CCF on behalf of the Lord Lieutenant for talented young people in Cornwall and the Isles of Scilly 

**Young Minds First -** to support projects in Cornwall and the Isles of Scilly who are working with children and young people up to 18 years of age to support their emotional wellbeing and those suffering with or at severe risk of mental health difficulties 

**Young People’s Mental Health Fund -** to increase sport and outdoor activity to help young people who suffer from poor mental health conditions 

**#iwill campaign** – Social action involves activities such as campaigning, fundraising, and volunteering, all of which enables participants to make a positive difference in their communities **Other Funds** – other smaller funds for charitable objectives 

33 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **23 Unrestricted funds** 

||At 1|Income|Expenditure|Transfers|Investment|**At 31**|
|---|---|---|---|---|---|---|
||January||||losses|**December**|
||2022|||||**2022**|
||£|£|£|£|£|**£**|
|General fund|580,548|129,687|(484,134)|351,615|-|**577,716**|
|Revaluation|||||||
|reserve|17,702|-|-|329|(18,031)|**-**|
||________|________|________|________|________|**________**|
|**Total**|598,250|129,687|(484,134)|351,944|(18,031)|**577,716**|



Revaluation reserve – this represents the market value of unrestricted investments above cost. 

Transfers mainly relate to management fees charged to restricted and endowment funds in accordance with the relevant funder agreements. 

In addition occasionally a fund is reclassified upon consultation with the funder. Such reclassifications are dealt with by way of a fund transfer. 

## **24 Commitments** 

Total future commitments payable under non-cancellable operating leases are as follows: 

|Land and buildings<br>_Operating leases which expire:_<br>Within one year<br>In two to five years<br>Equipment<br>_Operating leases which expire:_<br>Within one year<br>In two to five years|**2022**<br>**£**<br>**7,750**<br>**6,458**<br>**________**<br>**14,208**<br>**2,540**<br>**2,183**<br>**________**<br>**4,723**|2021<br>£<br>7,750<br>29,063<br>________<br>36,813|
|---|---|---|
|||2,540<br>4,723<br>________<br>7,263|



At the year end the charity had made a commitment to pay £32,841 (2021: £184,594) in grants to applicants which had not completed the approval process for final payment. 

34 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

**25 Prior year analysis of net assets between funds** 

||**Endowment**|**Restricted**|**Unrestricted**||
|---|---|---|---|---|
||**funds**|**funds**|**funds**|**Total**|
||**£**|**£**|**£**|**£**|
|Fixed assets|7,272,615|71,870|220,660|7,565,145|
|Current assets|695,535|1,952,091|415,094|3,062,720|
|Current liabilities|-|(8,197)|(37,504)|(45,701)|
||________|________|________|________|
||7,968,150|2,015,764|598,250|10,582,164|



35 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

|**26**<br>**Prior year endowment funds**<br>_Permanent Endowments:_<br>Albert Van Den Bergh/Jane Hartley Fund<br>Business Club<br>Caradon Area Community Fund<br>Community First - Albert Van Den Bergh/Jane Hartley Fund<br>Community First - Dennis Arbon Fund<br>Community First - Emily Bolitho Trust Fund<br>Community First - Crisis Fund<br>Community First - Lord St Levan<br>Community First Scheme<br>Community First - Tregothnan Foundation<br>Cornwall Crimebeat<br>Cornwall Glass and Glazing<br>Friends of Cornwall Community Foundation<br>Reg Windpower<br>Grassroots Fund<br>The Jack Moon and Lors Trust<br>The Eddie and Vanessa George Memorial Fund<br>Mining District Fund<br>Penwith and Isles of Scilly Area Community Fund<br>Quinnian Fund<br>Royston Leigh Fund<br>Tuppenny/China Clay Fund<br>Other Funds<br>_Expendable Endowments:_<br>Active Bodies Happy Minds/ Mental Health Fund<br>Amaranth Fund<br>Bruce Davis Trust<br>CCF Community Fund<br>Cornwall Crimebeat<br>Cornwall Glass and Glazing<br>Development Endowment Fund<br>HeadStart Kernow Mental Health Fund<br>Healeys Charitable Trust Fund<br>Karenza Endowment Fund<br>Lanherne Fund<br>Lilian Simons Legacy Fund<br>North Cornwall Area Fund<br>Patrixbourne Fund<br>Ruth Burden Community Trust<br>Terence Beer Trust<br>Tregothnan Foundation<br>The Trewithen Fund<br>Viscountess Boyd Charitable Trust<br>The Worval Foundation<br>Young and Talented<br>Young Minds First<br>Other Funds|1 January<br>2021<br>£<br>32,572<br>44,402<br>238,024<br>455,949<br>229,051<br>471,845<br>65,780<br>273,831<br>348,547<br>150,247<br>34,089<br>166,557<br>32,074<br>24,697<br>74,863<br>114,771<br>34,922<br>34,450<br>242,028<br>27,652<br>56,640<br>460,496<br>8,421<br>3,621,908<br>________<br>58,451<br>109,834<br>100,844<br>134,267<br>13,639<br>4,970<br>40,247<br>-<br>66,011<br>329,616<br>121,723<br>-<br>127,620<br>198,696<br>30,000<br>23,885<br>19,856<br>207,927<br>893,990<br>118,084<br>330,802<br>-<br>16,240<br>________<br>2,946,702<br>________<br>6,568,610|<br>|
|---|---|---|



36 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **27 Prior year restricted funds** 

|**Prior year restricted funds**||||
|---|---|---|---|
||1 January|Movement|31 Dec|
||2021|in year|2021|
||£|£|£|
|Adult Social Care|-|100,000|**100,000**|
|Albert Van Den Bergh/Jane Hartley Fund|20,604|4,294|**24,898**|
|Amaranth Fund|5,684|3,397|**9,081**|
|BBC Radio Cornwall|356|(356)|**-**|
|Boyton Solar and Wind Farm Community Fund|45,122|6,828|**51,950**|
|Bude Area Fund|6,095|(5,500)|**595**|
|Business Club|18,466|(12,632)|**5,834**|
|Caledonia Investments Charitable Foundation|-|75,000|**75,000**|
|Caradon Area Community Fund|8,240|8,544|**16,784**|
|Charles Reynolds Fund|-|21,880|**21,880**|
|CCF Community Fund|200,471|(155,381)|**45,090**|
|Cornwall Club|1,503|(1,435)|**68**|
|Cornwall Crimebeat Fund|7,641|6,290|**13,931**|
|Cornwall Emergency Fund|528,170|(506,935)|**21,235**|
|Cornwall Women's Fund|23,031|3,283|**26,314**|
|Cornwall’s Social Enterprise Fund|-|609,971|**609,971**|
|Crisis Fund|17,862|16,463|**34,325**|
|Denis Arbon Fund|5,307|3,966|**9,273**|
|Duke of Cornwall Benevolent Fund|13,205|(4,858)|**8,347**|
|East Langford Solar Farm|54,401|(20,563)|**33,838**|
|Emergency Fund – Build Back Better|130,204|(36,067)|**94,137**|
|Emily Bolitho Trust Fund|15,355|(227)|**15,128**|
|Goldsmiths Fund for Elderly|303|(303)|**-**|
|Goonhilly Wind Farm Community Fund|27,728|37,354|**65,082**|
|Headland Hotel|707|(664)|**43**|
|Headstart Kernow Mental Health|120,000|(92,262)|**27,738**|
|Healeys Entrepreneurs Fund|3,192|2,575|**5,767**|
|Kala Power Limited (was Howton Solar Farm)|35,664|26,951|**62,615**|
|Karenza Fund|13,848|(4,898)|**8,950**|
|Lanherne Fund|2,607|3,963|**6,570**|
|Live Well Fund|1,485|-|**1,485**|
|Lord St Levan Fund|9,834|6,035|**15,869**|
|Luxulyan Parish Council|32,168|(1,097)|**31,071**|
|Manor Farm Solar|40,489|7,527|**48,016**|
|North Cornwall Area Fund|26,479|(15,528)|**10,951**|
|North Petherwin Community Fund|39,631|(9,866)|**29,765**|
|Penwith and Isles of Scilly Area Community Fund|19,672|(16,610)|**3,062**|
|Philanthropy Director Funding|13,136|(13,136)|**-**|
|Royston Leigh Fund|3,104|(136)|**2,968**|
|South West Enterprise Fund|-|50,000|**50,000**|
|Surviving Winter|20,902|154,350|**175,252**|
|Tampon Tax Fund|1,320|86|**1,406**|
|Terence Beer Trust|387|2,330|**2,717**|
|Tregothnan Foundation|29,504|(29,504)|**-**|
|Trenouth Solar Farm|58,930|(22,173)|**36,757**|
|Trewen Fund|29,972|4,175|**34,147**|
|Trewithen Fund|16,357|(11,762)|**4,595**|
|Tuppenny Fund|20,514|(4,642)|**15,872**|
|United Downs Geothermal Community Fund|9,356|(9,356)|**-**|
|Viscountess Boyd Charitable Trust|14,551|(4,865)|**9,686**|
|The Worval Foundation|62,305|(28,623)|**33,682**|
|Young and Talented|13,883|10,642|**24,525**|
|Young Minds First|-|15,000|**15,000**|
|Young People’s Mental Health Fund|27,750|(7,750)|**20,000**|
|#iwill campaign (Youth Social Action Fund)|15,678|(12,987)|**2,691**|
|Other Funds|48,244|379|**48,623**|
||________|________|________|
||1,861,417|154,380|**2,015,764**|



37 



## Cornwall Community Foundation 

## Notes 

_(forming part of the financial statements)_ 

## **28 Prior year unrestricted funds** 

||At 1|Income|Expenditure|Transfers|Investment|**At 31**|
|---|---|---|---|---|---|---|
||January||||gains|**December**|
||2021|||||**2021**|
||£|£|£|£|£|**£**|
|General fund|432,302|131,839|(360,159)|376,566|-|**580,548**|
|Revaluation|||||||
|reserve|6,966|-|-|-|10,736|**17,702**|
||________|________|________|________|________|**________**|
|**Total**|439,268|131,839|(360,159)|376,566|10,736|**598,250**|



38