Reglstered number: 04816191 Charity number: 1099977 CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ishop Fleming CORNWALL commuN￿y FOUNDATION IA COMPANY LIMITED BY GUARANTEE} CONTENTS Page Reference and Admlnlstrative Details of thè Charlty, its Trustees and Advisers Tru$tee$' Report Trustees. Responslbllltles Statement Indep¢nd¢nt Auditors. Report on th9 Flnan¢lal Statements 9-12 Statement of Financial Actlvllles 13 Balance Sh8gt 14-15 Statement of Cash Flows 16 Notes to the Financial Stat¢m¢nts 17-45 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Mr Kim Conchie DL, Chalr Mr Stsmford Galsworthy, Vice Chair Mr Graham Clarke. Treasurer Mr Joseph Tumbull Ms Verity Perham Ms Sophie Hosking Mr Daiman Baker MrJeremy Sharp Mrs Gillian Pipkin DL Mrs Jane Trahair Mr Thomas Van Oss Mrs Jane Hartley DL Miss Daphne Skinnard DL Mr Toby Ashworth (resigned 27 July 20231 The Rl Rev Philip Mounstephen, Bishop of Truro {reslgned 27 July 20231 Mr Timothy Smith FCA (resigned 27 July 20231 The Rt Rev Hugh Nelson, Bishop of St Germans (appointed 15 Fabruary 20241 Patron Her Majesty The Queen President Colonel Sir Edward Bolilho KCVO OBE. Lord-Lieulenanl of Cornwall Vice Presidents Mr James Williams CVO, Vice Lord-Lieulen8nt of Comwall The Rt Hon Viscount Falmouth DL Company reglstered number 04816191 Charity registgred number 1099977 Registered office Suite 1 Sheers Barton Lawhitton Launceslon Cornwall PL15 9NJ Company secretary Mr Richard Pollock Chief executlve offl¢er MrTamas Haydu Indop8ndent auditors Bishop Fleming LLP Chartered Accounlanls Chy Nwerow Newham Road Truro Comwall TR1 2DP Bankers National Westminster Bank PIC 3 St Nicholas Street Truro Cornwall TR12RN Page 1 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Solicitors Coodes LLP 8 Ra￿ Hill Launceston Cornwall PL15 98A Pagg 2 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Board of Trustees present their annual report for the year ended 31 December 2023, together with the audited financial slalements for the year which are also prepared lo meet the requirements for a directors, report and financial statements for Companies Act purposes. The financial statements compty wllh the Charities Act 2011, Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting for Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS1021. PURPOSE AND ACTIVITIES Charitable purposes These are.. The promotion of any charilable purposes for the benefit of the community in the county of Comwall and the Isles of Sci15y and in particular the advancement of education, the protection of go¢)d health, both mental and physical and the relief of poverty and sickness. Other exclusively charitable purposes in the United Kingdom and elsewhere whSch are In the opinion of the Trustees beneficial lo 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 wheie people work together lo address disadvantsge and build strong. resilient communities. Our mission is to inspire local giving to meet local needs. We aim trj make sustainable funding available to address disadvantage and build strong communities by Promoting effective philanthropy. We have three strategic priorities.. To increase substsnlially the funds al 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 lo the guidance contained in the Charity Commission's general guidan￿ 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 al supporting community groups within Comwall and the Isles of Scilly. The Charity's fund development work is aimed at ensuring the funds continue lo be available in the future so that income can be generated to contlnue lo support the above groups for the benefit of the residents in the county. In addition to the guidance from Charlty Commission and the Fundraislng Regulator the Trustees have also used the Charity Governance Code as their fmme of reference. Pag& 3 CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 STRATEGIC REPORT Review of achievements and plans for the future Ilncorporating Chairman's Report} In 2023 the Comwall Communlty Foundation {CCFI had another record year and distributed £2,967,394 to 686 community projects and individuals. The CCF was established 20 years ago and during that lime the CCF has awarded £19 million lo more than 8,000 community projects all across Cornwall and the Isles of Scilly. Al the end of 2023 CCF'S assets tolalled £13,946,603 lan increase of £823,561 in the yearl. of which. total funds held and managed in the CCF'S endowment was £10,072,061. The financial objective of the CCF is to maintain at least the real value of the assets while generating a growing income lo fund grant making. The investment obje¢live of the CCF is lo produce the best financial return from its endowrnenl wllhln an 8ccept8ble level of risk. Our fund development aims lo subslanlially increase the funds al our disposal by prioritising endowment., encouraging annual contributions.. increasing the contribution from Ioc21 bLJsinesses and individuals based in and beyond Cornwall. Our Friends membership scheme had 369 members al the end of 2023 and Foundation Friends responded very generously lo our appeals. Several new funds were established in 2023. including a Mentsl Health Fund for Young People established by the NHS Cornwall and Isles of Scilly Integrated Care Board IICBI which distributed £300.000. The fund was hugely oversubsciibed with a total requested of £800,0(K) and we were able to distribute a fijrther £106,719 from some of our olh9r funds managed by the CCF. In partnership with Cornwall Voluntary Sector Forum we distributed a further £145,000 funded jointly by NHS Cornwall & Isles of Scilly Inlegraled Care Board IICB} and Public Health. This new fund - the People in Mind Fund - was match funded with £50,000 by the Sedel-collings Foundation. We are very grateful lo Cornwall Council for their partnership on dislribuling £400,000 from the Household Support Fund. These grants reached some of the most vulnerable people in our ¢ommunilie5 through our Cost of Living Crisis Fund and our SuNlving Winter Fund. During 2023 we received £106,457 from the Devon and Comwall Police lo support projects lo reduce crime and anti-social behaviour with grants from the Police and Crime Commissioner's Community Grants Scheme, the Chief Conslable's Fund and the Poli￿ Property Act Fund. The Cornwall Social Enterprise Fund allocated £388,649 in 13 grants givlng 8 significant boost lo employment and development in the social enterprise sector. We are very pleased to be working with the Trustees of the Sedel-collings Foundation. the Clare Milne Trust, the Caledonia Investments Charitable Foundation, the Quies Trust, the Carew Pole Charitable Trust and Cross Country Trains on distributing grants Sn Cornwall. Wilhoul their significant funding. communities would have been more exposed to the cost of living crisis. The renewable energy community funds distributed more than £200.000 in 2023, including the Goonhilly Fund that distributed £64.920 in the TR12 area and Helslon. The Manor Farm Solar Fund generously supported 11 local groups with grants lolalling £41.980. The Comwall Christmas Fair, kindly hosted by the Eden Project, ralsed a record-breaking £79,500. smashing through the £1 million total since the Fair began. We are very grateful lo the Fair Cornmittee for their dedicated work on this wonderful event. The Worval Foundation helped young people by distributing £100,731. The Young & Talented Fund distributed £58.090 10 43 gifted young people. Our Business Club awarded a total of £37.142 to 11 community projects in 2023. Many of our business supporters helped us beyond their membership fees, including the Headland Hotel. the Budock Vean Hotel, Lillicrap ChilGott. Savills Estate Agents, JB Eslales Ltd. Rodda's Creamery and Sl Austell Printing Company. Page 4 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEE} TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 We are dedicated to adhering lo the highest fundraising standards and have registered with the Fundraising Regulator. Our arnbition remains to increase our endowment and to respond to the need appropriately. We are commilled lo meeting the increasing demand on funding by bringing together people who want to help Comish communities with projects that make a real difference. We aim to work more closely with professional advisors to support their clients, charitable goals. We offer simllar support to corporate donors who have an interest in the local community and are interested in putting their corporate social responsibility into prath'ce. Almost all Sncome generation actwily 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 behatf.. or share information about donors or supporters without their express permission. The CCF malnlalns record$ of all complaints recelved and during the year received no complaints on its fundraising aGtivilies. We are delighted lo distribute another ￿¢0[d amount of grant fundlng to community projects all across Cornwall and the Isles of Scilly. However the ever increasing demand on our funds highlights the increasing need in Comwall. The rise in the cost of living and high inflation presented a very challenging year for our communities. We wuldn'l have helped so many people wilhoul the generosity of our donois. I would like to thank our Board of Trustees for their dedicated work and expert guidance. and our staff and voiunteers for all their hard work in making Comwall and Isles of Scilly a better place for one and all. Kim Conchle DL, FRSA Ichair of Trusteesl Date: . 7.TuL* P8ge 5 CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Financlal revlew The lolal income for the year was £4,123,23912022.' £6,165,164). Total expenditure was £3,529,77012022.. £2,865,822), giving nel incoming movement In funds for the year of £823,561 (2022.. £2,540,874 after investment gains of £230,092 (2022.. losses of £758,468). Al th8 year-end total Charity funds were £13,946.603 12022.. £13,123,042. This consisted of endowment funds of £10,479,106 {2022'. £10,072.1611. restricted funds of £2.679.347 12022: £2,473,165) and unre51ricted funds of £788,150 (2022 £577,716). Investment powors and poll Under the Memorandum and Articles of Association, the Charity has the power lo 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 svfficienl iesources 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 reseNes and have decided to maintain a balance between equity investments and interest bearing accounts. Grant making policy The Charity considers applications for lunding support on a regular b8sis. 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 lo accumulate free reserves lo be able to cover anticipated adminislralion costs to sijslain ils operations, during any period when income generating activities may temporarily cease. The Trustees therefore consider that reserves should be held lo finance al least nine months of budgeted operating costs which Is approxlmalely £510,038. At the year end the unrestricted fund was £788,150 12022: £577,716) of which funds of approximately £237,944 have been earmarked by the Trustees for a nutnber of projects lo aid the future devejopmenl of the Charity. The level of reserves held is closely monitored by the Trustees. structure. Governance and Managamant The Comwall Community Founclation 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 adminislored by a Board of Trustees which meets a minimum of three times a year. A Chief Executive, who is not a Trustee. is appointgd by the Board lo manage the day-to-day operations of the Charity. Recrultment and inductlon of Trustees Suitable candidates are selected by the existing Trijslees and invited to become Trustees. New Trustees are invited to the CCF Offi￿ for an induction meeting wlh the Chief Executive and the team in order to gain further understanding of th& operations of the CCF. In addition, all Trustees are invited lo attend the Grants Committee meetings. Trustees are also invited to training opportunities such as conferences and training courses lo deepen their understanding of the context for the network of Community Foundations. Pay pollcy for senior staff The pay of the senior staff is reviewed annually. In view of the nature of the Charity, the Trustees benchmark against pay levels in other similar organisations. Page 6 CORNWALL COMMUNrrY FOUNDATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Related parties None of the Trustees receive remuneration or other benefit from Ihelr work with the Charity. Any connection between a Trustee or senior staff member with 3 grant recipient or supplier of the Charity is disdosed lo the Board of Trustees in the same way as any other conlraclual 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 lo whlch the Charity is exposed and have established systems to miligale Ih¢)se 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 lo regular review. A risk assessmgnl 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 impa¢l. Remedial measure is taken where required. The Twstees, Report, incorporating a strategic report. was approved by order of the Board of Trustees, as the company directo and slgned on its behalf by.. Kim Conchio DL. FRSA (Chair of Trustees) Date.. Page 7 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEEI STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees (who are also the directors of the Charty for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial slalemenls in accordan¢e with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company law requires the Trustees lo prepare financial statements for each financial year. Under company law. the Trustees musl not approve the financial statements Unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incomlng resources and application of resources, including ils income and expenditure, for that period. In preparing these financial staternenls, the Trustees are reouired to.. select suitsble accounting policies and then apply them consistently, observe the methods and principles of the Charities SORP IFRS 1021. make judgments and accounting estimates that are reasonable and prudent. slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial slatemenls., piepare the financial statements on the going concem basis unless it is Inappropriate lo presum@ that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charitys transactions and disclose with reasonable accuracy at any time the financlal position of the Charity and enable them to ensure that the financlal slalements comply with thè Cownpanies Act 2006. They are also responsible for safeguarding the assets of the Charity and hance for taking reasonable steps for the preventlon and detection of fraud and other irregularities. Approved b order of the members of the Board of Trustees and signed on its behalf by. Mr Kim Con¢hle DL (Chair of Trusleesl Dale.. 5- 7. Page 8 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEE} INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION OPINION We have audlled the financial statements of Cornwall Community Foundation Ilhe 'charitable companll for the year ended 31 December 2023 whSch comprise the Ststement of Financial Aclivilies, the Balance Sheet. the Slalement of Cash Flows and the related notes. including a summary of significant a¢¢ounling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Finan¢ial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally ￿Cepted AcC(￿nI1￿g Practi￿1. In our opinion the financial stslements.. give a trug and fair vlew of the stale of Ihe charitable company's affairs as at 31 December 2023 and of ils incoming resources and application of resources, induding ils income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Acceptsd Accounting Practice., and have been prepa￿d in accordance with the requirements of the Charities Act 2011. BASIS FOR OPINION We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the AuditDfs' Tesponsibilfiies for the audit of tha financial statements section of our report. We are independent of the charitable company in accordance th the ethical requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidgnc8 we have obtained is sufficient and approprlale lo provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the ffnancial statements, we have Concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial slalements is appropriate. Based on th8 work we have performed. we have not Idenlifled any malersal un￿rtainlieS relating to events or conditions that, individually or colleclively, may cast significant doubl on thg Charflable companys ability lo continue as a going con¢ern for a ￿riod of al least ￿e1ve months from when the financial slalements are aulhorised for issue. Our responsibilities and the ￿SponSibl1111es of the Trustees with respect lo going concern are described in the relevant sections of this report. OTHER INFORMATION The other infomialion comprSses the information included in the Annual Report other than the financial stat8ments and our Auditors. Report Ihereon. The Trustees are responsible for the other infomialion contained wllhin the Annual Report. Our opinion on the financial slalements does not cover the other information and, except to the exlenl otherwis& explicilly staled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial slalernenls or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls. we are required to determine whether this gives rise to a material misstatemgnt in the financial slalements themselves. If, based on the work we have performed, we conclude that there is a material misstalemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Page 9 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION ICONTINUEDI mA￿ERs ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report In respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requir8S US to report lo you if, in our oplnlon.. the inforrnalion gwen in the Trustees, Report is inconsistent in any material respecl ￿th the financial slalements.. or sufficient accounttng records have not been kept; or the financial slalemenls are not in agreement with the accounting records and returns., or we have not received all the infoimation and explanations we require for our audll. RESPONS181LrriES OF TRUSTEES As explained more fully in the Trustees, Responsibilities Slalemenl, the Trustees Iwho are also the directors of the charitable company for the purposes 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 th8 Trustees determine is necessary to enable the preparatM)n of financial ststemenls that are frea from malerfal misslalemenl, whether due to fraud or error. In preparing the financial statements. the Truste8s are responsible for assessing the charftsble companls ability lo continue as a going concern. disclosing, as applicable, matters related lo going concem and using the going concern basis of accounting unless the Trustees either intend lo liquidate the charitable company or lo cease operations, or have no realistic alternative but to do so. AUDITORS. RESPONSIBILITIES FOR THE AUD￿ OF THE FINANCIAL STATEMENTS We have been appointed as auditOT under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financlal Slalernenls as a whole are free from material misstatement, whether due lo fraud or error, and to Issue an Auditors. Report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a rnalerial misslalemenl when il 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 slalgments. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delect material misstalemenl8 in ￿SpeCt of irregularities, including fraud. The extent lo which our procedures are capable of detecting Irregularities. including fraud is detailed below.. We have considered the nature of the sector, control environment and finanaal performance. We have considered the results of enquiries with management and Trustees in relation to their own identification and assessment of the risk of irregularities within the Charity., and We have reviewed thts docurnenlation of key processes and controls and perfomied walkthroughs of transactions lo conflm that the systems are operating in line with documentation-, We have identified any matters having obtained and reviewed the Charills documentation of their policies and procedures relating lo.. Identifying, evaluation and Complyng Wth laws and regulations and whether they were aware of any Snstances of non-comp5iance,' Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud., The internal controls established lo mitigate rfsks of fraud or non-compliance with laws and regulalions.. We have considered the marters discussed among the audit enga9emenl team regarding how and where fraud might occur in the financial slalements and any potential indicators of fiaud. Pag8 10 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION ICONTINUEDI As a result of these procedure5, we have considered the opportunilles and incentives that may exist wlhin the organisalion for fraud and identified the highest area of risk lo be in relation to income recognition, with a particular risk in relation lo year-end cut off. In ¢ommon with all audits under ISAS (UK) we are also required lo perform specific procedures to respond to the risk of management override. We have also obtained an understanding of the legal and regulatory frameworks that the Charlty operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the finan¢ial slateTnents. The key laws and regLJlations we considered in this context included the Charities Act 2011. Charity SORP 2019, FRS 102 and the terms and conditions attsching to material grants received by the Charity. In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial stslemenls bul cornpliance with which may be fundamental to the Charitls ability to operate or avoid a material penalty. These included the Fundraising Regulator. employment law, data protection, UK lax legislatlon and health and safety. Our Procedures to respond to risks identified included the followrng.. Reviewing the financial slalemenl disclosures and testing lo supporting documentation to assess compliance with provisions of relevant kaws and regulations described as having a dir8cl effect on the finanrAal stalemenls., Performing analytical procedures lo identify unusual or unexpected relationships that may indicate risks of material rnisslalement due to fraud., Rewewing Board meeting minutes., Enquiring of management in relation to actual and potential claims or litigations- Performing detailed Iransaclional lesling in relation to the recognition of income, specifically grants. wtth a particular focus around year-end cul off,. and In addre8slng the risk of fraud through management override of controls, testing the appropriateness of lournal entries and other adjustments,. assessing whether the judgments made in accounting estirnales are indicative of potential bias.. and gvaluating the business rationale of significant transactions that are unusual or outside the normal course of business. We also communicated identified laws and regulations and polentlal fraud risks lo all mernbers of the engag&ment team and remained alert to possible indicators of fraud or non-¢ompliance with laws and regulations throughout the audit. As a result of the inherent limitations of an audit. there is a risk that not all irregularities. inoluding a mal8rSal missiatemenl in financial 51alemenls or non-compliance with regulation. will be deleclfyd by us. The risk increases the further removed compliance with a law and fftgulalion is frorn the events and Iransaclion5 reflected In the financial slalemenls. given we will be less Ilkely lo be aware of it, or should the [r￿gularitY occur as a result of fraud rather than a one-off erlor, as this may involve intentional concealmenL forgery. collusion. omission or misrepresentation. A further description of our responsibilities for the audit of the financial slalemenls is located on the Financial Reporting Council's website at.. www.fr¢.or .ukJ8uditorsres onsibilities. This description forms part of our Auditors, Report. Page11 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION ICONTINUEDI USE OF OUR REPORT This report is made solely to the charitsble Companls Trustees. as a body, in accordance wlth Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has begn undertaken so that we might slate lo the chaiilable Compan¢s Trustees those matters we are required lo slate lo them in an Auditors. Report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charitable Company and ils Trustees as a body. for our audit work, for this ￿pOrt, or for the opinions we have fomied. Allson Ollvar FCA {Sonlor Statutory Auditor) for and on behalf of Bishop Fleming LLP Chartered Accounlanls Slatulory Auditors Chy Nyverow Newham Road Truro Cornwall TR1 2DP Dale: 301cf4 IIoiL Bishop Fleming LLP are eligible lo act as auditors in temis of sectlon 1212 of the Companies Act 2006. Page 12 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted funds 2023 Restricted Endowment funds funds 2023 2023 Total funds 2023 Total funds 2022 Note INCOME AND ENDOWMENTS FROM: Donations and legacies Charitsble activf(ies Investments 104,764 31.446 3.463 3.000.798 249.706 477,637 255,425 3.360.987 281.152 481.100 5.845,317 10,564 309,283 TOTAL INCOME AND ENDOWMENTS 139,673 3,728.141 255,425 4,123,239 6.165,164 EXPEND￿uRE ON: Raislng funds Charitable activities 157.714 326,072 157.714 3.372.056 105.431 2.760,391 3.045,984 TOTAL EXPENDITURE 483.786 3,045.984 3,529,770 2,865,822 NET {EXPENDITUREII INCOME BEFORE NET ILOSSESII GAINS ON INVESTMENTS Nel {lossesllgains on inveslmtsnls {344.113) 682,157 255.425 593.469 3,299,342 {15) 3.500 226.607 230,092 1758,468) NET IEXPENDITUREII INCOME Transfers between funds 1344.1281 685.657 482.032 823,561 2.540,874 16 554,562 (479,4751 {75.087> NET MOVEMENT IN FUNDS 210.434 206,182 406.945 823,561 2.540.874 RECONCILIATION OF FUNDS: Totsl funds brought forward 577,716 210.434 2.473,165 206.182 10,072,161 406.945 13.123.042 823.561 10.582,168 2.540,874 Nel movement in funds TOTAL FUNDS CARRIED FORWARD 16 788.150 2,679,347 10,479,106 13,946,603 13.123,042 The Stslement of Financial Adivilies Includes all gains and losses recognised in the year. Thg notes on pages 17 10 45 form part of these financial statements. Page 13 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER:04816191 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note FIXED ASSETS Tangible assets Investments 12 1,811 10,001,340 13 10.514,777 10.514.777 10,003,151 CURRENT ASSETS Debtors 14 810,686 2.667.233 45,107 3,181,869 Cash al bank and in hand 3,477,919 3,226,976 Creditors.. amounts falling due within one year 15 {46,093) {107.0851 NET CURRENT ASSETS 3.431,826 3,119,891 TOTAL ASSETS LESS CURRENT LIABILITIES 13.946,603 13,123.042 TOTAL NET ASSETS 13.946.603 13,123,042 CHARITY FUNDS Endowmont funds Restricted funds Unreslricted funds 10,479,106 2.679.347 788,150 10,072.161 2.473.165 577.716 TOTAL FUNDS 13.946,603 13,123,042 Page 14 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER-04816191 BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2023 The Charlty was ent(tled lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the Charity to obtain an audit for the year in question in accordance with sectwjn 476 of Ihg Companies Act 2006. However. an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibililieg for complying with the requir8menls of the Act with respect to accounting records and preparation of financi81 statements. The financial slalemgnls have been prepared in accordance with the provisions applicable to entities subject lo the small companies regime. The flnancial statements were approved and authorisod foi issue by the Trustees and signed on Ihelr behalf by.. Mr Graham Clarke Treasurer Dale: 11: J 1 2L)24- The notes on pages 17 to 45 form part of these financial ststemenls. Page 15 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEEI STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notg CASH FLOWS {USED INII PROVIDED BY OPERATING ACTivrriES Net cash (used iny from operating activities 18 1712,3921 3.444,380 CASH FLOWS PROVIDED BYI (USED IN} INVESTTING ACTIVITIES Proceeds from sale of investments Purchase of investments Income from investments 232.564 379,548 1515.908) 13.579.087) 481,100 309,283 NET CASH PROVIDED BYI {USED INI INVESTING ACTIVITIES 197,756 12,890,256) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR {514,6361 3.181.869 554,124 Cash and cash equivalents at the beginning of the year 2.627.745 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 19 2.667,233 3,181,869 The notes on pages 17 to 45 form part of these financial statements Page 16 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GENERAL INFORMATION The company is incorporated as a company limited by guaianlee and does not have share capital. In the event of the company being wound up each memb&r is liable lo 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 13 members at 31 December 202312022.. 161. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting and Reporting by 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 IFRS 102} leffeelive 1 January 20191, the Financlal Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 and the Companies Act 21K)6. Cornwall Community Foundation meets the definition of a public benefit entity undei FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 GOING CONCERN The Trustees have prepared budgets and forecasts which 9IVg them adequate comfort that the Charity has adequate resources lo continue in operational exislenGe for the foreseeable future. Thus the Trustees continue to adopt the going ¢oncem basis of accounting in preparing the financial stslemenls. 2.3 INCOME All income Is recognised once the Charty has enlillement to the income. il is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing enlillemenl. the probability of receipt and the ability lo estimate with suffi¢i8nl accuracy the amount receivable. Evidence of enlillement lo a legacy exists when the Charity has sufficient eviden￿ that a gift has been left lo them Ilhrough knowledge of the existence of a valid will and Ihg death of the benefactor) and the executor is satisfied that the property in question ¥MII not be requiTed lo satisfy claims in the estate. Receipt of a18gacy musl be recognised when il is probable that il will be received and the fair value of Ihe amount receivable, which will generally be the expected cash amount to be distributed lo the Charity, can be reliably measureé. Grants are included in the Statement of Finan¢ial Activities on a Teceivable basis. The balance of Income ￿ee5ve￿ for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where Income Is recewed in advance of entillemenl of receipt. ils recognition is deferred and included in creditors as deferred income. Where enlillement occurs before income is re¢elved, the income is accrued. Income tax recoverable in relation lo investment income is recognised al the lime the investment income is rec￿Vable. Page 17 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES {¢ontlnuedl 2.4 EXPENDrfuRE Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement and th& amount of the obligation can be measured reliably. Expenditure is classified by aclivity. The costs of each activity are made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs allribuiable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support Costs which are not allribulable lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Charity to ralse funds for Its charitsble purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of Irrecoverable VAT. 2.5 INTEREST RECEIVABLE Interest on funds held on deposit Is Included when Teceivable and the amount Can be measured reliably by the Charfty,. this is normally upon nolificalion of the Interest paid or payable by the institution wlth whom the funds are deposited. 2.6 GIFT AID In the case of a Gift Aid payment made within the Charity, income Is accrued when the payment is payable to the Charity under a legal obligation. Measurement IS at the fair value receivable. which will normally be the transaction value. Where the right to recetve Gift Aid has been established. the amount receivable is recognised within donation income in the Statement of Financial Activities. 2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets costing £2.000 or more are capllallsed and recognised when future economlc benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are Snllially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciatson is Charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the followlng basis: Office equipment 33% slraighl Ilne Page 18 CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES (continued) 2.8 INVESTMENTS Fixed asset investmen15 are a form of financial Instrument and are initialty recognlsed 81 their transaction cost and subsequently measured al fair value al the Balance Sheet dale, unless the value cannot be measured reliably in which case il is measured al cost less impairrllenl. Investment gains and losses. whether realised or unrealised. are combined and presented as 'GainsllLosses) on inveslmenls. in the Slalement of Financial Activities. Investments held as fixed assets are shown at cost less provision for Impaliment. 2.9 DEBTORS Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valLJed al the amount prepaid nel of any trade discounts due. 2.10 CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.11 LIABILITIES AND PROVISIONS Liabilities are recognised whèn there is an obligation al the Balance Sheet dale as a result of a past event, il is probable that a transfer of economic bènefit will be required in settlement. and the amount of the settlement can be estimated reliabty. Llabililies are recognised at the amount that the Charity anticipates il will pay to settle the debt or Ihe amount il has received as advanced payments for the goods or seThices il musl provide. Provisions are measured al the best estimate of the amounts required lo sellle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted al the pre-tax dlscount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Flnancial Activities as a finance cost. 2.12 FINANCIAL INSTRUMENTS The Charity only has financial assets and financial liabilib'es of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognlsed at transaction value and subsequent measured al their settlement value wlh the exception of bank loans which are subsequentty measured at amortised cost using the effective interest method. 2.13 OPERATING LEASES Rentals paid under operating leases are charged to the Slalemenl of Financial Activities on a slraight-line basis over the lease term. 2.14 PENSIONS The Charity operates a defined contribution pension schem8 an(i the pension charge represgnls the amounts payable by the Charty lo the fund in respect of the year. Page 19 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES {¢ontinuedl 2.15 FUND ACCOUNTING GeneTal funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of Ihp general objectives of the Charity and which have not been designated for other purposes. Reslricled funds are funds which are lo be used in accordance with specific reslriclions irnposed by donors or which have been raised by the Charity for pa￿Cular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes to th8 financial slalemenls. Endowment funds include a permanent endowment fund which is lo be held perrnanently and only the income from ￿ IS Used for charitable activities. Expendable endowrnents are primarily held to provide income bul the trustees also have the option to spend the fund capital on tharitable activities. Investment income, gains and losses are allocated lo the appropriate fund. INCOME FROM DONATIONS AND LEGACIES Unrestricted R9$trlcted Endowment funds funds funds 2023 2023 2023 Total fund$ 2023 Totsl funds 2022 Donations and grants LegacSes Friends Gift Aid 54.824 2,854,061 82,474 31.644 32.619 255.425 3,164.310 82,474 31,644 82,559 5,645,890 85.000 28.482 85,945 49.940 104,764 3.000,798 255,425 3,360.987 5,845.317 TOTAL 2022 114,363 2,845,900 2,885,054 5,845.317 Page 20 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME FROM TRADING ACTIVITIES Unrestrlcted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Fundraising events Sundry in¢orne 28,446 3.000 249.706 278.152 3.000 7.000 3,564 31,446 249.706 281.152 10,564 TOTAL 2022 3.564 7,000 10,564 INVESTMENT INCOME Unr•strieted Restricted Endowment funds funds funds 2023 2023 2023 Total funds 2023 Total funds 2022 Income from listed inveslrnents Bank interest Other investment incomg 3,463 369,611 44,447 63.579 373.074 44,447 63,579 236,953 8,857 63,473 3,463 477,637 481.100 309,283 TOTAL 2022 11.760 282.318 15,205 309.283 Page 21 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED B Y GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 EXPENDITURE ON RAISING FUNDS COSTS OF RAISING VOLUNTARY INCOME Unrestricted Restrl¢ted funds fund5 2023 2023 Total funds 2023 Total funds 2022 Markeling and publicity costs Wages and salaries 70,158 87,556 70.158 87,556 25,711 79,720 157,714 157,714 105,431 TOTAL 2022 89,631 15.800 105,431 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Summary by tund typo Unrestrictad Restricted Endowment funds funds funds 2023 2023 2023 Total 2023 Total 2022 Charitable costs 326,072 3,045.984 3,372,056 2.760,391 TOTAL 2022 394.507 2.363.284 2,600 2,760,391 Page 22 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ANALYSIS OF EXPENDITURE BY ACTIVITIES Actlvltles undertaken directly 2023 Support costs Total funds 2023 Total funds 2022 2023 Charitable Costs 2,967.394 404,662 3.372,056 2,760,391 TOTAL 2022 2.363.927 396,464 2.760,391 ANALYSIS OF DIRECT COSTS Total funds 2023 Totsl funds 2022 Grants payable 2,967.394 2,363,927 Page 23 CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ANALYSIS OF EXPENDITURE BY ACTtVlTIES ICONTINUEDI ANALYSIS OF SUPPORT COSTS Total funds 2023 Total funds 2022 Activitles 2023 Staff costs Rent and rates. light and heat TTaining and other staff costs Travel and meeting costs Office costs arid insurance Postage and telephone 255,005 12,751 28.559 19.383 10.977 6,643 255.005 12,751 28,559 19.383 10.977 6.643 280.131 11.374 14.607 19,254 13,018 7.139 F ill Computer and software costs Publicity and website costs Accountancy Governance Consultancy and professional fees Office equipment hire Bank Charges and interest Depreciation Subscriptions 8,574 1,700 10,870 9,850 16,250 1,583 216 8.574 1,700 10,870 9,850 16,250 1.583 216 1.811 20,490 10.721 3,786 4,455 4,050 8.445 1,649 1,727 3,065 13,043 1,811 20,490 404,662 404,662 396,464 TOTAL 2022 396.464 396,464 AUDITORS. REMVNERATION 2023 2022 Fees payable lo the ChariV8 auditor for the audit of the Charws annual accounts 14,200 4.050 Page 24 CORNWALL COMMUNrrY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. STAFF COSTS 2023 2022 Wages and salaries SoGial security costs Contribution to defined conlribullon pension schemes 306,023 21,853 14,685 321,466 26,703 11.682 342.561 359,851 In the year. a redundancy payrnent of £9,OIK> 12022.. £Nill was made lo one employee 12022.. no employees). The average numbeT of persons employed by the Charlty during the year was as follows= 2023 2022 No. Employees 11 12 No employee received remuneration amounting lo MO￿ than £80.000 in either year. The key rnanagement personnel of the Charity comprise the Trustees (who do not receive remuneration for their role as Trusleesl and the Chief Executive Officer. The lotsl amount of employee benefits of the key management personnel of the Charity were £58,08212022- £55,466). 11. TRUSTEES. REMUNERATION AND EXPENSES During the year. no Trustees received any remuneration or other benefrts12022- £NILI- During the year ended 31 December 2023, no Trustee expenses have been Incurred12022- £NILI. 12. TANGIBLE FIXED ASSETS Offlcé equlpment COST OR VALUATION Al 1 January2023 8.250 At 31 December 2023 8.250 DEPRECIATION Al 1 January 2023 Charge for the year 6.439 1.811 Al 31 December 2023 8.250 Page 25 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUAPANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. TANGIBLE FIXED ASSETS {CONTINUEDI Office equipmgnt NET BOOK VALUE Al 31 December 2023 At 31 December 2022 1,811 13. FIXED ASSET INVESTMENTS Charifund & Charibond COIF Foresight Total COST OR VALUATION At 1 January 2023 Additions Disposals Revaluations 5,112,125 39,700 112,840) 176,446) 4,244,765 286.062 1219.7241 398.701 644,451 10,001,341 190.146 515,908 {232,$641 230.092 192,163) AT 31 DECEMBER 2023 5,062,539 4,709,804 742,434 10.514,777 NET BOOK VALUE AT 31 DECEMBER 2023 5,062.539 4,709,804 742,434 10,514,7TI AT 31 DECEMBER 2022 5,112.125 4,244,765 644,451 10,001,341 14. DEBTORS 2023 2022 DUE WITHIN ONE YEAR Trade debtors OlheT debtors Prepayments and accrued income 713.231 7.041 90,414 3.381 6.719 35.007 810,686 45.107 Trade Debtors includes £709,500 due from the VCSE Health Impmvemenl Fund as shown in Note 16. Page 26 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Other laxalion and social security Other creditors Accruals and deferred income 8,552 5,877 1.843 29.821 7.373 1.881 97,831 46,093 107,085 Page 27 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUAPANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. STATEMENT OF FUNDS B31an¢8 at 1 January 2023 Incorne Expgndlture T￿81018 Inlout GaIn￿(Lo$s8$1 Balance at31 £ Deeember 2023 PERMANENT ENDOWMENT FUNDS AVDBIHartley Fund Business Cknb Caradon Area Community Fund Communlty Fltst AVDBIHartley Fund Community First Crisis Fund Community Flrsi Dennis Art￿n Fun(1 Community First Emlly Boltho T￿5* Fund Communily First Lord Sl Levan Comrnunily First -TregOthnan Foundation Community FIFSI Scheme Cornwall Crimab8at Comwall Gla55 and Glazing Friends of CCF Grassroots Funds Miniry Thstricl Fund Penwith and los Community Fund Quinnian Fund REG win0p0￿r Royston Loigh Fund The Eddie and Vane55a George Memorial Fund The Jack M¢)on and Lors Trust Tuppennylchina Clay Fund Olhar Fvnds 156,863 724 157,587 45,1 t8 242.582 12851 11.5411 44.833 241.041 460.352 147.7621 39,736 452,326 66.416 13,0241 5.999 89.391 231.263 126.5801 19,786 224.489 476,4Q1 150,1781 41.070 467,293 266,418 42,311 29.919 8,648 151,698 115,0921 13,139 149,745 361,972 1119,3981 23.￿7 266,081 34,748 34,527 169,772 12,7811 168,991 32.526 76,339 32.315 75,860 14791 35.045 14831 34,562 258,567 257,878 28.185 25,175 57.735 28.006 25,015 57.369 13661 35.587 12281 35.359 117.120 17201 116,4(Kl 469.386 12,9751 466.411 8,559 1551 8.504 EXPENDABLE ENDOWMENT FUNDS knaranth Bwce Davis Trust Bude Endowment Fund CCF Community Fund 111.947 102.791 5.000 2.500 15riJi 16531 118.897 102,138 68,090 15,(￿0 1,701 104,731 137,027 13,7501 133,277 Page 28 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Balancg 0131 December B4lan¢*at 1 JAnuary2023 Tt#nsfgr¥ Elpenthlure CornmunityFirst- AVDBIHJrtleyFund 47,762 3.275 51,037 CommunityFirJt- 3,024 208 3.232 CommunityFir$t- DénnisArboD Fund 28,580 1,822 28.402 Cornmunity Find thé l$l•$ of Scilly He&ièyg Ch&ritabi8T￿Yf Fu￿d-thelUnd wg1wm8sjpp￿CatIOnuf0i0n¢rVprQneurla1youn1peQpIelo aupport th9irbu5iness Ideas andgr3ntlunding KarenxÈ Furtd-to impt¢ve¢Èi$lor¢hildrtn andyvungpeopiovrilh spBcialn2ed50rdizabiiity L*h*rn• Fund-41mSto $upportcommunityinitiative8whichfocu80n managinrtend improwngthe natural enwronmentln Cornw2lland Isles ofscllly U￿An Slmons Lega¢y Fund-to provldem8tch-fundingfolthBnewendoWmentd¢￿￿Iion8reC￿y¢d Mlhlng Dlktr)BtFund-dDnordiro¢t•dfundtQf comfflunny pro19￿¥ intheold districtof Karrler Ngrth CornwJllAwgg Fund-ondowmenttoattiactdonorswiihintheNorth Cornwallarea to donètetoa Specific area Inwhichtheyorepa59ionate P&trlxboum8 Fund-¢omtDunityprojecrsacross CoinwallthroughCCPscDmmunltyfund P89e 31 CORNWALL COMMUNrrY FOUNDATION {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ruth Burd9n CommunltyTrust-donordlre¢teofundl¢rconwnuDityprLy8cts￿thlnthepark$hE¥ of Launcesion South ènd Cential. LgDvwhiiton. SDUth petherwlna￿ Le2ant Tannèr Phooklx Fund-donordirecied fundforcommunityprole¢tsiorro83 Comwalland Isles ofSclllyl8nd m¥y¢onsiderapplicationsfromoutsideCoinw811 T•ionce BoeiTru81-aims to heippiowd£ 8upportfordisadvAntagedehiLdien£ndyaungpeople. primary age betsyeen 11-2Syear8of ag9 burDorexclusF¥ely,véhoare unablètDath1￿9th9IrPQt8niiaIdug to hnanclal ircum5tance8 ThfjTr•svlthen Fund-this lund waltom$$ applicat￿￿5 fromwolects onab15ngvDLuntèfyr$io 6ssistyoung peoplewho8re ngtJchiewngthei1fullpoten￿8l Trggothnan Expendable Endowm•nt-donorolr¢ctsd fuDdfor8rn4rKencyas813t8nce Vl8COUntess Boyd CharltablÉTrust-Ihisfvndwelcom&5appUcatlonfrom South Ea5tCorrbwall. The Fundhoiders may¢on$id9rotherapplicatsonsfrom CorTrw811 andout$ldeC¢inwall. PriDrtywll begivento OW8nlsalionsworkingon church restoration, tngntalwel￿81nÈ. gwdenin8andhortlculturA prtsjètts TheWorvalFoundatloh-8itnstD holpprovide opportunities foryoun£dlsad¥ant&ged pBople. primarilyaged be￿eeTh 11-15y8arsof age burno1exclusl￿Iy,Who are onth8adg8of 8X¢lU￿onfrOrn schoolor Areflndlng5t h¥rdtocope. po8siblyduetoan iiln¢$¥, itrarningditticuliies orlife circumstances YDynganilTaienied-fundadmlnistÉrèd byth¥CCFvn b9half ofihg Lord Lleut8naMfoYts￿ntedyounBpF0pi9 in Cornwalland l$lFs Df Scilly Youn¥ Mlnds First-lQ 5UPPQrt projectsin Cornwalland Isi•8olScillyvJhoar8 workingwiih children &ndyoung ppopIE upio 1Byear3 of agetosupporttheliemotiDnal¥vpllbpinKaniJthose sutteringwith or8t$evereriskof OthÉrfun41•-olhsrsmallèrfunds forchAritableactnritie$ Balon¢eat 1 January 2023 37 Dogembèr 2023 Yrdnsforl In¢omo ExpoTrditure Gain¥llLp$¥e¥l RESTRICTED FUNDS Amaranth Fund AVDBIHartl£y Fund Boyton Solarend Wind Faim Communlty Fund Brl8htèrFuiurF5 Fu￿j BudeAr8£ F￿nd BusinE¥¥Club Caledoni3 InvAstmènt$ ¢hgritabie Foundation CgrgdpnAre Communyty Fund 1.7S6 6,681 23,192 12.0021 4,696 11.713 19,2861 59,283 12,825 112.9731 57.837 50,000 140.QOOI 10,000 4.859 Ll.872 1&640 3.709 55.297 75,000 13.OOD} 137,3091 163,3981 4,170 11,746 16,732 19.5101 11,6a6 11,426 Page 32 CORNWALL COMMUNITY FOUNDATION {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Qaln8llLosses1 BaltttKeat 31 Decembèr 2023 B&lanBe •tl Income Expenditure inlout 2023 CCFCommunlty Fuhd 132,180 286.984 154.941 2.891 85.825 CCFEndowmÈnt Match Fund fjo.￿4 62,1)5 ChaYlesAèyn¢lds Fund Comml$sloner'$ CommunityGrant Schetne CoiDwallClub Cornwall CnmBbgai Comwallwomen 2.737 25,￿0 (7,0001 (7QOI 20,037 66,667 113.0191 51.09 119 3.511 351,361 3,821 165,7301 1285.7451 6,694 15.416 8.897 114.4861 12,8871 6,980 Cornvrdilsoclal 447,040 S.Q67 1192.472) 230,764 Cosiof L￿VIng 114,649 281,433 1934.5541 (20,6811 40.897 Cli￿8 Fund DennisArbon Fund Duk90f Cornwall Marineand Enwronmentsi Fund E&stLan￿Ord SolerFBrm EmergencyFund 55,648 13.610 35.605 7.299 128.8ODI 1,9S6 84,2 17.69) 100.OCI) 1W,OCN) 43,181 45,294 180.5831 26.070 43,467 3,873 1,082 48,422 Emer8encyFund- build Back Bottor 1.082 EmllyBolith¢Trust Fund Fikntls Rowe Funtl Friends Goonhillywind Farrn com￿nity Fund 16,912 15.037 18.3081 17,359) 16272 20,000 112.SOOI 6,250 33,142 76.751 127.8021 5,222 79,818 79.631 166,1281 6816ys Entr4proneur Fund Kala Pow8r 7,9U1 3,272 10.022 76.056 44,440 3fj,0551 15.4521 78.989 SolarFarrnl Karenia Fund Lanherne Fund Lord * Levan Fund Luxulyan ￿rISh Councll 4,129 8,037 36,127 8.037 10.$33 121.3501 17.2661 11.640 13.082 {10.5321 26,974 14,400 t7,042} P041 33,628 Page 33 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 BalaThcoat 31 December 2023 8alanoe¥tl Januury 2023 Tran¥ffjvs Inluut Income EKpendlttsre tsoln81lLos5￿j MAnorFami Solar 45.551 44.624 141.9801 IS.2221 42.973 NHSCoinwall& IOS Ice Healih andW8llbelng North ¢ornw411 Ai8a Fund North Pethfrrwin CoFnmunityFund 345,000 1297,0701 144.5601 3,370 17,126 9.547 142231 5,950 30,922 12.8001 34,956 Penwith?Dd los Areacommunity Fund 9.352 14,448 {13.3041 11.5401 6,956 P4ople ID Mind Community WellbeingFund Police Property Act Fund Roysion Lgl$h Fund sode1-col￿n9s Foundation SWEF Survivingwnter Fund TamponTaxFund 204.000 48,020 25.690 141.7571 16.2631 s5.￿0 4,512 2.977 13.5501 11.123] 2,735 262,050 125.5311 21.360 43.396 157,457 11.4321 121.8281 30.504 140.908 223,698 1.406 1,406 Tafjner Phoenix Fun Terefice BaerTwst 66.36S 99,075 19.300 118,S 440 1,132 1.283 TroDouthSolar Fund T￿WeTh Fund Trewithen Fund TupponnyFund VCSE Hè21th Improvement Fund scounts98Boyd ChÈiit4bL•TriJst 35,091 23,07? 5S,283 32,582 4.37S 14,921 11.496J 15.OODI 15371 31.882 9.142 12.769 7Dg.SOO 13,425 22.531 709.500 (7,4911 14.979 44.068 129,7091 114,2401 14.998 Welcome Fund Theworval Foundètlon YpungC8rer Youngond Talented YoungMind¥ Flrst 2e,354 9,197 11.4361 3,950 IV,554 21.934 109.508 4.575 75.269 10.321 56.023 13.751 ,787 30.20S 5.328 17,072 15.8721 8,428 126,332 1.2 {1113561 113.6861 1.490 Iyguth SDrjs1 Attlon Fund) OlhqrFund$ 85,131 114,862 187.922 100,950 $11gTOTAL 14n,165 3,728.141 13.045.944) 1479A751 4500 2.674347 Page 34 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 kn&r•nth Fund-thisfund welcomes appll¢atiDnslorpiojocts onthe Roseland. buta150 constdeis Folmouth and StAusie112reas AVDBIH4rtl•yFund-donordirected fund forcomffjunitypfoi8¢tsin Newquayarea Bvyion Solarand Wlnd FArm Communlty Ftsnd-forcomtDunityproi8ctsswth Boyton parish BrfKhterFuturos Fund-thl$fundwiLiprovidesuppottacr055 Comw811& IOS, toyoungpèopl¢throu8h $du¢¥ti¢n and learning'.to improvo h&Blth èndwellbeing'.to protoctand improvethe localenvironment Budg Endowmeni Fund-donordlr£ct4d Iundfoi¢offlmunityprojectsinthg BudeareA and mAycon$ldsr 8pptic8tlon$frotn outsidethe 8ude area Club-awords cornmunityprDlects8Cros$Cornwali Cal•donla Inve5tmèntsCha￿i4bIt Foundation-to $upport¢ornmuDityprol8ctslThCoinw£lland thelslèsol Scillywhich addrèssthè Inttsr-rel¥tFd is¥u&sof linancialplanninÉ, debtm8n88em¢ntsndfin$n¢ialEducation Cavad0ttAr*•CpmmunityFund-￿¥xYfUnd lorcommuntyprolects In SECoinwall CCF CommunltyFund-theCCF'5 Qwnfundforcoffmunityprolècts CCF Endowment Match Fvndlng_toprovide mat¢h4undingio eD¢ourag8newendowment&onatlons Charte5 Reynold8 Fund-forthe rèb8f otgenFrationJlpovetyiThdtherelief of thDSèinneed byreasongf youth,sge, Ill health. disabl￿ty. financialhardshiporotherdlsadv2nt88e InCorn¥Vall Snd1s195 Of Scilly CornwaUCluh-theCCFts phHamhropyaimfoithoge ￿￿￿O￿ls1de Cornwall ComY4aLLCrlmebeat-fundtO$upportproj•ctStharhgipr&duco0ttondlnginCDmwallènd tho1$18¥of SGilly ComviAIIWarn8n¥ Fund-thgcrit9ria are broad and slmliartOlheTampon TaxFund-to $uppts￿ projects wherB ¥vomenaThd¢irl8Aiethe beneficiarieg Cornwo11'5 Soclal Ethrprf$e Fund-to crèst88tnplDytll9nt. apprentKeshipsand rr£lningopportunltl&s, And to Improve gkill$ l$•dlngtod¢v¥loptnqntotseMcesand productswhKh maxlmlse trade, r¢inVqStmEntand Cost of Uvingcrtsls FUILd-￿{LhÈlplQBa[V01yn￿ry¥v¢tor8￿dCOMrnunItygroUp51ode1￿er2 ran8eof ActI￿tI&￿t0 ÈuppDrt pBopiewho have adveiselyimpactedbyth2 sl8nlflcant risè In ¢o$totlMng Crls18 Fund-provides gr8nt8SSiStsnCetO indiwdu•Wf3miliesond communities in ciisissltuatlorbS D¢nnlsPxbon Futtd-d¢nDrdif¢¢tsd fund Duk•ofcorliWall's MarlnB&EnvlronmontalFund-willsupport prolectgwhlchaddros&th$mo$ r•istlngto cornmunityJction, improvinginfrastructure Innovatian EastLan8fordSoiarFAmb-communityb8nolilfundforKilkhHrnpton. Launcellg Bnd Morw8nstow EmergoncyFund-fund tOPFovide 8meigency5UPPartto th09e affectsd bynaturxldisaster Emor¥encyFund-Bulld BackBetter-io heipCorni$h ¢¢mmunitiei ¥VTvwetheCoronawruscrlsand bulld backbetteiforihefuture, ineludingdonationsfrtsm CDrnwallCoynriland tho DepartmentforOl8ltal,CulturB, M£dl¥ and Sp¢rtlDCMSI Ernlly BolhhoYru$tFund-10 5UPPOrtlhgsYellbeSngof IndI￿a￿als,•3pÈc￿qlly¢hts$?ta¢8dV1th hardshlp througtt poorhealth Orlowin¢Dtne,andfDrvrgani¥aiionsthaipiovide5ervices to th0sefacin¢ hsidship FrAtttl$ Row¥Fund-thig rundwelcomes applications frompFojeet$ In North E¥$¢ CornwaU.Thefund suppcrts projectshelpinÉeldeilypeople-, youngpeopiE,- tnentolheglth8nd ¥vpllbEin& rural is01*ion Frlendg-CCF's membership $¢hame Pagg 35 CORNWALL COMMUNITY FOUNDATION IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Govnhlltywind FamiCommunltyFund-for¢ommunityprojectsintheGoonhillyarea H•aLey$CharttableTrustFtrnd-thB fundwe￿Orne￿ applicationaforentrepreneurlolyDungpeopl¢to$upport theirbusine$$ idfjg¥gndgtantfundinR Kala P0￿rLI￿lIed1HO￿ton5D1OrFam?I-c0MmUTrhrybOn￿r￿1￿￿dlorS p8rishes in SEComwall Korenza Fund-to Improv?¢8r¢for¢hiWrBll and younmpeoplewfth Bpeclalneed301dl$8blllty Lfftnheme Fund-aimsto ¥upportcommunityinitiatNesvthlch focuson mèna&ingalld irryroviwthenatural nyiroDmeni incornwalland Islegof klliy Lord StLwan Fund-lega¢YfiJndfDrtherelvdf of povetyand hardship. andfoFcrisl$ InteNention LuwlyADCommunityFund-to supportcommunityproject$withiDthepaD$h ofLuxuiyan M4nor501ai FArm-lorcommunityprOj4Ctsinth¥OurngullowthAu519Uarea NHS ComwBII& IOS ICBMBrtt&l H￿lth&WeUbVIng Fund-the coreaim isto iry)rOvethbom￿10n¥l w511￿Ing￿n0 moDtalhealth of children endyoun8peop￿thIS is to improv¥¢hildren's andyoungpeople'E re8ilience gnd self-core. to improveemotlDnalwellbEingondetDotiiTrnal 18gulaiion.toallevièteand reduce stress BndstresS-iÈlatedsn￿￿and depF95sbn. andtolncrea5eprotectlvefactorsto mantal health and Wollb¢ing NorthCornwaitArea Fynd-fundto attr£ctdonorswlthlnthèNorth Comw8ll•roatDdonatsto e spothfk Brea inwhich theyèiepBs91onBte North Pethenwln Comm¥nityFund-forcommunityprojects in the parlshofNorth P¢ih¢tsyin nwlth andlsles of 5¢lllyArea CommuTrltyFuhd-donatèdfundftsrcommunityprDjgCIS inWg8tCornwall andthe181esof Sellly People In Mlnd ComMu￿1tywwllb0lnKF￿￿d-thI3 lundforms partof £ widerproieotadmlnistsr8dby¢omail V¢luntsrySortorFoTUmOD behalf of Cornw211&10S InteEf8tedC8reBoard and ¢orrbw8IIPubtsr Health SeNice5.7he intended keyoutcomes of thefund Siètts $upportthgreduction of thesuicide rate InComwall& 105. andto Improve wel￿81￿8. $4¢18lconnertion aThdfiDancial security Poll¢ePropwrtyActFund-willlocuson supportingcornmunitle9 to proVIded￿￿KS1Or￿ry•¢t￿t1￿$fr￿tn dru related an￿-SOcIal behaviour Lgigh Fund-donoFdirectedfundforcornmunityprol¢¢ts SedBI-Calting¥ Foyndation-5UPPQrt5 localvoluntarysectorand communlty8roupsln CornY4allanil IOS vlhichworkto Improve the ol peopl* iniheir¢ornmuDiries 5WEFISotsthWw$tEntBrprlsq Fundl-tQ SUPPOrtavarigtyof youngcornlsh peopl•whodD not h8vpthplnltl81 $turterfundsto¢ettheirbusin85$ idea offtheground SuNlvln4wbntèr- 5pec131appèalfund forvulnerabl¢ an(lothoi pgopie wxp8riencingruelpovBrty T&mpDnTgxFund-th8TamponTaxCommunltyFund aim5tosupportlocalorgsnisation$workingviiihwomen ho ore mostmarAinallsed toovercomèbArri¢tsthatprevFntthFrn fromfullilling potent￿1 TannerPhoenlxTrust-donordireeted fundforcammunityp