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Registered number: 04816191 Charity number: 1099977

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9 Bishop Fleming

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

	Page
Reference and Administrative Details of the Charity, itsTrustees and Advisers	1-2
Trustees’ Report	3-9
Trustees’ Responsibilities Statement	10
Independent Auditors’ Report on the Financial Statements	11-14
Statement of Financial Activities	15
Balance Sheet	16-17
Statement of Cash Flows	18
NotestotheFinancialStatements	19-61

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees	Mr Kim Conchie DL, Chair
	Mr Stamford Galsworthy, Vice Chair
	MrGraham Clarke, Treasurer
	Mr Joseph Turnbull
	Ms Verity Perham
	Ms Sophie Hosking
	Mr Daiman Baker
	Mr Jeremy Sharp
	Mrs Gillian Pipkin DL
	Mrs Jane Trahair
	MirThomas Van Oss
	Mrs Jane Hartley DL
	Miss Daphne Skinnard DL
	The Rt Rev Hugh Nelson, Bishop of St Germans (appointed 15 February 2024,
	resigned 13 May 2025)
	Mrs Josephine Ashby (appointed 25 July 2024)
	Mr Shaun Sawyer QPM Hon. LLB (appointed 25 July 2024)
	The Rt Rev David Williams, Bishop ofTruro (appointed 22 July2025)
Patron	Her Majesty The Queen
President	Colonel Sir Edward Bolitho KCVO OBE, Lord-Lieutenant of Cornwall
Vice Presidents	MrJames Williams CVO, Vice Lord-Lieutenant of Cornwall
	The Rt Hon Viscount Falmouth DL
Company registered
number	04816191
Charity registered
number	1099977
Registered office	ist FloorAspect House
	17 Callywith Gate
	Bodmin
	Cornwall
	PL31 2RQ
Company secretary	Mr Richard Pollock
Chief executive officer	MrTamas Haydu
Independent auditors	Bishop Fleming LLP
	Chartered Accountants
	Chy Nyverow
	Newham Road
	Truro
	Cornwall
	TR1 2DP
Bankers	National Westminster Bank Plc
	3 St Nicholas Street
	Truro
	Cornwall
	TR12RN

Page 1

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Solicitors Coodes LLP 8 Race Hill Launceston Cornwall PL15 9BA

Page 2

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The Board of Trustees present their annual report for the year ended 31 December 2024, 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.
e 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 and 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:

e To increase substantially the funds at our disposal; e To deliver an efficient and effective grants programme; e To be atthe 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.

Page 3

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

STRATEGIC REPORT

Review of achievements and plans for the future (incorporating Chair's Report)

The Cornwall Community Foundation (CCF) had another record year in 2024 and distributed £3,203,457 to 675 community projects and individuals (list of all recipients included below). Rising costs of living are putting more pressure on our local communities and on the charities, social enterprises and community groups that support them. 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 over £20 million to more than 8,000 community projects all across Cornwall and the Isles of Scilly. We celebrated this milestone with an event for all concerned at Truro Cathedral in November.

At the end of 2024 CCF's assets totalled £15,327,336 (an increase of £1,380,733 in the year), of which, total funds held and managed in the CCF’s endowment was £12,551 ,329 (an increase of £2,072,223 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 377 members at the end of 2024 and our Friends responded very generously to our appeals.

New funds established in 2024 included the Care Leavers Fund. We deeply appreciate Mrs Lucie Nottingham’s large donation to increase the endowment of the Tanner Phoenix Trust that supports charities and community groups across Cornwall in perpetuity.

We received £709,500 from the NHS Cornwall and Isles of Scilly Integrated Care Board (ICB) to be distributed from the new Health Improvement Fund. The People in Mind Fund is in its second year and we received £154,000 from the Cornwall Voluntary Sector Forum, and we are grateful to the Sedel-Collings Foundation for donating a further £50,000 to this fund.

We are very grateful to Cornwall Council for donating £777,000 to our Cost of Living Crisis Fund, the Surviving Winter Fund and towards hot meal provisions. We work closely with Devon and Cornwall Police to support projects to reduce crime and anti-social behaviour. Their funding totalled £91,227 in 2024 to the Crime Commissioner's Community Grants Scheme, the Chief Constable's Fund and the Police Property Act Fund.

The Sedel Collings Foundation awarded £191,428 to community projects across Cornwall; and the Worval Foundation distributed £87,786 to help young people who are excluded from mainstream education. The Tanner Phoenix Fund distributed £81,227 to charities and social enterprises. The Cornwall Social Enterprise Fund distributed £176,402 in 2024 to increase employment and skill levels and the South West Enterprise Fund awarded £21,618 to young entrepreneurs.

The Duke of Cornwall's Benevolent Fund supported our Crisis and Young Carers Fund and the Marine & Environmental fund distributed £40,833 to inspire community action.

The Young & Talented Fund led by Colonel Sir Edward Bolitho KCVO OBE, Lord Lieutenant of Cornwall, distributed a record amount, £74,635 to 58 talented young people.

We could not have helped so many applicants without funding from the Sedel-Collings Foundation, the Clare Milne Trust, the Caledonia Investments Charitable Foundation, the Carew Pole Charitable Trust and Cross Country Trains.

An incredible £68,000 was raised by the Christmas Fair team at the Eden Project, and the proceeds benefited local charities.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The renewable energy community funds received £287,253 in 2024, including the Goonhilly Fund that received £79,441 for groups in the TR12 area and Helston. The Howton Solar Farm Fund received £46,733 which supported 11 local groups.

Our Business Club awarded a total of £44,435 to 16 community projects in 2024. Many of our business supporters helped us beyond their membership fees, including the Headland Hotel, Lillicrap Chilcott, Savills Estate Agents, JB Estates, Rodda's Creamery, St Austell Printing Company and Wildanet.

The Cornish Lithium Fund distributed £26,908 to 18 community groups and Cornwall Glass Fund £15,963 to 12 community projects across Cornwall.

In 2024 we employed a full time Community Outreach Officer, part funded by Cornwall Voluntary Sector Forum, to help new community groups with their applications and to visit the most disadvantaged areas in Cornwall. The CCF will continue to building thriving communities, preventing hardship and rising to the critical challenges of our time: climate resilience and housing action. With a bold and must-win vision to make Cornwall and the Isles of Scilly a great place for everyone, CCF is committed to driving positive change, empowering grassroots organisations and fostering philanthropy to build stronger, more resilient communities.

Through dynamic community investments, innovative trust-based partnerships, and an unwavering commitment to grassroots change, we will enable inclusive, thriving communities and support those who combat climate change and Cornwall's housing crisis. We will increase impact across our giving — build partnerships with our applicants and collaborate on lasting and valued impact, We will share powerful storytelling, conveying the impact of Cornwall's inspirational community projects and the power of placebased giving.

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

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 more closely 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:

e use direct marketing, telephone, doorstep or on-street fundraising; e use professional fundraising agencies to raise income on our behalf; or e 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.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

We are indebted to all of our incredibly generous donors who have enabled us to help so many community projects across the Duchy. | would also like to thank our Board of Trustees for their dedicated work and expert guidance, and our staff and volunteers for all their hard work and expertise. We remain committed to support the wonderful network of charities, social enterprises and community groups that deliver lasting positive change across Cornwall and the Isles of Scilly.

Kim Conchie DL, FRSA

(Chair of Trustees)

Page 6

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must 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 incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

® select suitable accounting policies and then apply them consistently;
® observe the methods and principles of the Charities SORP (FRS 102);
° make judgments and accounting estimates that are reasonable and prudent;
° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business,

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

----- Start of picture text -----
Za of the members of the Board of Trustees and signed on its behalf by:
Mr Kim Conchie DL, FRSA
(Chair of Trustees)
Date: - —
22-7 2e2s
----- End of picture text -----

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

The Trustees’ Report, incorporating a strategic report, was approved by order of the Board of Trustees, as the company directors, and signed on its behalf by: a Kim Conchie DL, FRSA (Chair of Trustees)

Date: “) 2.77. Vers

Page 9

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Reserves policy

At the year-end the unrestricted funds comprised:
Unrestricted (general)	2024 £570,727	2023 £550,206
Unrestricted (designated)	£228,816	£237,944
TotalUnrestrictedFunds	£799,543	£788,150

The unrestricted designated funds have been set aside by the Trustees for a number of projects to aid the future development of the Charity. At the end of each year the unrestricted designated funds are reviewed by the Trustees and any unutilised sums are re-allocated. At the end of 2024 the Trustees set aside a provision of £173,816 to offer match-funding to encourage future donations. A further sum of £55,000 was set aside to cover costs for IT development plans and property improvements to the Charity's new leasehold premises.

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 £564,000. The level of reserves held is closely monitored by the Trustees, 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 Trustees 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.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

The total income for the year was £4,822,639 (2023: £4,123,239). Total expenditure was £3,950,275 (2023: £3,529,770), giving net incoming movement in funds for the year of £1,380,733 (2023: £823,561) after investment gains of £508,369 (2023: £230,092).

At the year-end total Charity funds were £15,327,336 (2023: £13,946,603). This consisted of endowment funds of £12,551,329 (2023: £10,479,106), restricted funds of £1,976,464 (2023: £2,679,347) and unrestricted funds of £799,543 (2023: £788,150).

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.

Investments review

The endowment portfolio received some large contributions during 2024 totalling £1.515m. Inevitably this distorted the performance figures but after adjustments the total return for the year was 8.8%.

By way of comparison our benchmark, the ARC Steady Growth Charity Index, grew by 8.7%. Falling inflation and better stock markets meant that we were able to achieve our core objective of maintaining the real value of the portfolio as measured by the CPI. The portfolio generated income of £414,454 during the year for grant awarding, a return of 3.4%.

After a prolonged period of underperformance in capital terms, we took the difficult decision to sell our holdings in M&G Charifund and Charibond, and in June 2024 we reinvested with the more internationally focussed Cazenove Charity Sustainable Multi Asset Fund (SMAF). Similarly to our investment with the CCLA Charity Investment Fund, the Cazenove SMAF invests across asset classes and markets, thus reducing volatility and broadening the scope.

Persistently high interest rates and a hostile investment climate continued to plague the renewables sector, affecting the performance of our holding in Foresight Global Real Infrastructure Fund (GRIF), the attractive income flow notwithstanding. In early 2025 after careful consideration, we switched this holding into the Cazenove SMAF to reduce volatility and improve the prospects for a better total return.

Our Investment Policy document states that investments should be made on the assumption that CCF is expected to exist in perpetuity. Thus, we are able to take a long-term view with the portfolio and can tolerate a degree of volatility in capital values over the short and medium term, providing we can achieve a regular flow of income to fund our grant giving activities. We seek to reduce potential volatility by investing in a spread of asset classes. This approach appeared to be effective during the market upheavals at the end of the first quarter of 2025: volatility was less than that of the main equity indices and the income was unaffected. We have continued only to invest in funds that pursue ‘responsible’ investment policies: at the year-end we held no investments in fossil fuels.

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.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION

OPINION

We have audited the financial statements of Cornwall Community Foundation (the ‘charitable company’) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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 2024 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 Charities Act 2011.

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 Auditors’ 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 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 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 Annual Report other than the financial statements and our Auditors’ 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. 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION (CONTINUED)

MATTERS 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 requires us to report to you if, in our opinion:

° the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or
° sufficient accounting records have not been kept; or
° the financial statements are not in agreement with the accounting records and returns; or ° we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees’ Responsibilities Statement, the Trustees (who 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 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 charitable company'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.

AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 145 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 financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ 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:

e Wehave considered the nature of the sector, control environment and financial performance; e 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
e We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation;
e We have identified any matters having obtained and reviewed the Charity’s documentation of their policies and procedures relating to: ° |dentifying, evaluation and complying with laws and regulations and whether they were aware of any instances of non-compliance;
° Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
° The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
e We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION (CONTINUED)

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to income recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAs (UK) we are also required to 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 Charity 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 financial statements. The key laws and regulations we considered in this context included the Charities Act 2011, Charity SORP 2019, FRS 102 and the terms and conditions attaching 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 statements but compliance with which may be fundamental to the Charity's ability to operate or avoid a material penalty. These included the Fundraising Regulator, employment law, data protection, UK tax legislation and health and safety.

Our procedures to respond to risks identified included the following:

e Reviewing the financial statement disclosures 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;
e Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
e Reviewing Board meeting minutes;
e Enquiring of management in relation to actual and potential claims or litigations;
e Performing detailed transactional testing in relation to the recognition of income, specifically grants, with a particular focus around year-end cut off, and
e In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in accounting estimates are indicative of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.

We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance 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, including a material misstatement in financial statements or non-compliance with regulation, will be detected by us. The risk increases the further removed compliance with a law and regulation is from the events and transactions reflected in the financial statements, given we will be less likely to be aware of it, or should the irregularity occur as a result of fraud rather than a one-off error, as this may involve intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ Report.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION (CONTINUED)

USE OF OUR REPORT

This report is made solely to the charitable Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable Company's Trustees 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 its Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Alison Oliver FCA (Senior Statutory Auditor)

for and on behalf of Bishop Fleming LLP Chartered Accountants Statutory Auditors Chy Nyverow Newham Road Truro Cornwall TR1 2DP

Date: 23 July 2025

Bishop Fleming LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
		2024	2024	2024	2024	2023
	Note	£	£	£	£	£
INCOME AND
ENDOWMENTS
FROM:
Donations and legacies	3	77,387	2,552,610	1,562,385	4,192,382	3,360,987
Income from trading
activities	4	71,533	76,960	-	148,493	281,152
Investments	5	52,339	413,754	15,671	481,764	481,100
TOTAL INCOME AND		ee,		ee
ENDOWMENTS		201,259	3,043,324	1,578,056	4,822,639	4,123,239
EXPENDITURE ON:
Raising funds	6	168,746	-	.	168,746	157,714
Charitable activities	8	481,103	3,300,426	-	3,781,529	3,372,056
TOTAL		ee
EXPENDITURE		649,849	3,300,426	-	3,950,275	3,529,770
NET (EXPENDITURE)/
INCOME BEFORE
NET (LOSSES)/
GAINS ON
INVESTMENTS		(448,590)	(257,102)	1,578,056	872,364	593,469
Net (losses)/gains on
investments	14	(2)	6,087	502,284	508,369	230,092
NET (EXPENDITURE)/		a
INCOME		(448,592)	(251,015)	2,080,340	1,380,733	823,561
Transfers between
funds		459,985	(451,868)	(8,117)	-	-
NET MOVEMENT IN		iS
FUNDS		11,393	(702,883)	2,072,223	1,380,733	823,561
RECONCILIATION
OF FUNDS:
Total funds brought
forward		788,150	2,679,347	10,479,106	13,946,603	43,123,042
Net movement in funds		11,393	(702,883)	2,072,223	1,380,733	823,561
TOTAL FUNDS
CARRIED		ee
FORWARD		799,543	1,976,464	12,551,329	15,327,336	13,946,603

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 19 to 59 form part of these financial statements.

Page 15

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:04816191

BALANCE SHEET AS AT 31 DECEMBER 2024

			2024		2023
	Note		£		£
FIXEDASSETS
Investments	14		12,593,957		10,514,777
CURRENT ASSETS
Debtors	15	52,603		810,686
Cash at bank and in hand	20	2,789,392		2,667,233
		2,841,995		3,477,919
Creditors: amounts falling due within one
year	16	(108,616)		(46,093)
NET CURRENTASSETS			2,733,379		3,431,826
TOTAL ASSETS LESS CURRENT			—		ee
LIABILITIES			15,327,336		13,946,603
TOTAL NETASSETS			15,327,336		13,946,603
CHARITY FUNDS
Endowment funds			12,551,329		10,479,106
Restricted funds			1,976,464		2,679,347
Unrestricted funds			799,543		788,150
TOTALFUNDS			15,327,336		13,946,603

Page 16

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:04816191

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr Graham Clarke

Treasurer

The notes on pages 19 to 59 form part of these financial statements.

Page 17

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |Note|£|£| |CASH FLOWS|(USED|IN)/|PROVIDED|BY|OPERATING|ACTIVITIES| |Net|cash|(used|in)/|from|operating|activities|19|1,211,206|(712,392)| |CASH|FLOWS|PROVIDED|BY/|(USED|IN)|INVESTING|ACTIVITIES| |Proceeds|from|sale|of|investments|5,410,401|232,564| |Purchase|of|investments|(6,981,212)|(515,908)| |Income|from|investments|481,764|481,100| |NET|CASH|PROVIDED|BY/|(USED|IN)|INVESTING|ACTIVITIES|(1,089,047)|197,756| |CHANGE|IN|CASH AND CASH|EQUIVALENTS|IN|THE|YEAR|122,159|(514,636)| |Cash|and|cash|equivalents|at|the|beginning|of the|year|2,667,233|3,181,869| |CASH|AND|CASH|EQUIVALENTS|AT THE|END|OF|THE|YEAR|20|2,789,392|2,667,233| |The|notes|on|pages|19|to|59|form|part|of these|financial|statements|

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Page 18

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

GENERAL INFORMATION

Cornwall Community Foundation is a charitable private Company limited by guarantee without share capital. incorporated in England and Wales (Company number: 04816191) and a registered Charity in England and Wales (Charity number: 1099977).

The registered and principal address is 1st Floor Aspect House, 17 Callywith Gate, Bodmin, Cornwall, PL31 2RQ.

In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity. There were 16 members at 31 December 2024 (2023: 13).

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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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.

2.2 GOING CONCERN

The Trustees have prepared budgets and forecasts which give them adequate comfort that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 INCOME

All income is recognised once the Charity has entitlement to the income, it 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 entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 19

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (continued)

2.4 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time 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 raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable 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.

Grants payable are charged in the year when the offer is made 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 year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with 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 wit! normally be the transaction value.

Where the right to receive 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 capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses, All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 20

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (continued)

2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION (CONTINUED)

Depreciation 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 following basis:

Office equipment

33% straight line

2.8 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

Investments in associates are stated at the amount of the Charity's share of net assets. The Statement of Financial Activities includes the Charity's share of the associated companies’ net income or expenditure using the equity accounting basis. As the associate is a charity, the investment is presented within restricted funds.

Investments held as fixed assets are shown at cost less provision for impairment.

2.9 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net 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 date of acquisition or opening of the deposit or similar account.

2.11 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle 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 at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.12 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 21

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (continued)

2.13 OPERATING LEASES

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.14 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.15 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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

Investment income, gains and losses are allocated to the appropriate fund.

INCOME FROM DONATIONS AND LEGACIES

	Unrestricted	Restricted	Endowment	Total	Total
	funds	funds	funds	funds	funds
	2024	2024	2024	2024	2023
	£	£	£	E	£
Donations and grants	26,477	2,512,768	1,560,223	4,099,468	3,164,310
Legacies	13,000	-	-	13,000	82,474
Friends	-	31,128	-	31,128	31,644
Gift Aid	37,910	8,714	2,162	48,786	82,559
	77,387	2,552,610	1,562,385	4,192,382	3,360,987
TOTAL2023	104,764	3,000,798	255,425	3,360,987

Page 22

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4. INCOME FROM TRADING ACTIVITIES

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2024	2024	2024	2023
	£	£	£	£
Fundraising events	56,103	73,960	130,063	278,152
Sundry income	15,430	3,000	18,430	3,000
	71,533	76,960	148,493	281,152
TOTAL2023	31,446	249,706	281,152

5. INVESTMENT INCOME

	Unrestricted	Restricted	Endowment	Total	Total
	funds	funds	funds	funds	funds
	2024	2024	2024	2024	2023
	£	£	£	£	£
Income from listed investments	3,070	337,953	10,953	351,976	373,074
Bank interest	49 269	18,041	-	67,310	44,447
Other investment income	-	57,760	4,718	62,478	63,579
	52,339	413,754	15,671	481,764	481,100
TOTAL2023	231,658	249,442	-	481,100

Page 23

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. EXPENDITURE ON RAISING FUNDS

COSTS OF RAISING VOLUNTARY INCOME

	Unrestricted	Total	Total
	funds	funds	funds
	2024	2024	2023
	£	£	£
Marketing and publicity costs	42,868	42,868	70,158
Wages and salaries	125,878	125,878	87,556
	168,746	168,746	157,714
TOTAL2023	157,714	157,714

7. ANALYSIS OF GRANTS

		Total	Total
	Grants Paid	funds	funds
	2024	2024	2023
	£	£	£
Grant Outgoings	3,203,457	3,203,457	2,965,294
TOTAL2023	2,965,294	2,965,294

For the full list of grant payments made in year, see Note 27.

Page 24

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

	Unrestricted	Restricted
	funds	funds	Total	Total
	2024	2024	2024	2023
	£	£	£	£
Charitable costs	481,103	3,300,426	3,781,529	3,372,056
TOTAL2023	326,072	3,045,984	3,372,056

ANALYSIS OF EXPENDITURE BY ACTIVITIES

	Activities Grant undertaken _ funding of directly activities	Activities Grant undertaken _ funding of directly activities	Support costs	Total funds	Total funds
	2024	2024	2024	2024	2023
	£	£	£	£	£
Charitable costs	64,814	3,203,457	513,258	3,781,529	3,372,056
TOTAL2023	2,100	2,965,294	404,662	3,372,056

Page 25

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Activities|fundsTotal|fundsTotal| |2024|2024|2023| |£|£|£| |Staff costs|271,792|271,792|255,005| |Rent|and|rates,|light|and|heat|12,502|12,502|12,751| |Training|and|other|staff|costs|48,938|48,938|28,559| |Travel|and|meeting|costs|22,541|22,541|19,383| |Office|costs|and|insurance|16,141|16,141|10,977| |Postage|and|telephone|6,183|6,183|6,643| |Computer and|software|costs|11,702|11,702|8,574| |Publicity and|website|costs|28,636|28,636|1,700| |Accountancy|6,983|6,983|10,870| |Governance|13,357|13,357|9,850| |Consultancy|and|professional|fees|30,512|30,512|16,250| |Office|equipment|hire|1,583|1,583|1,583| |Bank|charges|and|interest|2,085|2,085|216| |Depreciation|-|-|1,811| |Subscriptions|40,303|40,303|20,490| |513,258|513,258|404|662| |TOTAL|2023|404,662|404,662|

----- End of picture text -----

AUDITORS' REMUNERATION

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Fees|payable|to|the|Charity's|auditor for the|audit|of the|Charity's|annual| |accounts|19,200|17,040|

----- End of picture text -----

Page 26

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. STAFF COSTS

	2024	2023
	£	£
Wages and salaries	355,801	306,023
Social security costs	27,591	21,853
Contribution to defined contribution pension schemes	14,278	14,685
	397,670	342,561

In the year, a redundancy payment of £10,148 (2023: £9,000) was made to	employee	(2023:
employee).
The average number of persons employed by the Charity during the yearwasas follows:
	2024	2023
	No.	No.
Employees	13	11

The average number of persons employed by the Charity during the year was as follows:

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the Charity comprise the Trustees (who do not receive remuneration for their role as Trustees) and the Chief Executive Officer. The total amount of employee benefits of the key management personnel of the Charity were £66,723 (2023: £63,744),

12. TRUSTEES’ REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year, expenses totalling £125 were reimbursed or paid directly to 1 Trustee (2023 - £NIL to no Trustees).

Page 27

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. TANGIBLE FIXED ASSETS

	Office
	equipment
	£
COST
At 1 January 2024	8,250
At 31 December 2024	8,250
DEPRECIATION
At 1 January 2024	8,250
At 31 December 2024	8,250
NET BOOKVALUE
At 31 December 2024	-
At31December2023	-

Page 28

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. FIXED ASSET INVESTMENTS

		Charifund &
	Cazenove	Charibond	COIF	Foresight	Total
	E	£	£	£	£
COSTOR VALUATION
At1January2024	-	5,062,539	4,709,804	742,434	10,514,777
Additions	6,145,806	-	735,406	100,000	6,981,212
Disposals	-	(5,410,401)	-	-	(5,410,401)
Revaluations	107,701	347,862	108,967	(56,161)	508,369
AT 31 DECEMBER 2024	6,253,507	-	§,554,177	786,273	12,593,957
NET BOOK VALUE
AT 31 DECEMBER 2024	6,253,507	-	5,554,177	786,273	12,593,957
AT31DECEMBER2023	-	5,062,539	4,709,804	742,434	10,514,777

Page 29

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. DEBTORS

	2024	2023
	£	£
DUE WITHIN ONE YEAR
Trade debtors	9,430	713,231
Other debtors	4,170	7,041
Prepayments and accrued income	39,003	90,414
	52,603	810,686

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2024	2023
	£	£
Trade creditors	1,925	8,552
Other taxation and social security	7,634	5,877
Other creditors	2,388	1,843
Accruals and deferred income	96,669	29,821
	108,616	46,093
	2024	2023
	£	£
DEFERRED INCOME
Deferred income at 1 January 2024	17,823	74,931
Resources deferred during the year	70,305	17,823
Amounts released from previous periods	(17,823)	(74,931)
	70,305	17,823

The deferred income balance included income received during the year for events which are due to take place in 2025, management fees for funds paid in full relating to 2025 and monies received relating to covering staff costs in 2025.

Page 30

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ————

17. STATEMENT OF FUNDS

						Balance at 31
	Balance ati					December
	January 2024	Income	Expenditure	Transfers in/out	Gains/ (Losses)	2024
	£	£	£	£	£	£
PERMANENT
ENDOWMENT
FUNDS
AVDB/ Hartley	157,587	-	.	-	8,508	166,095
Fund
Business Club	44,833	-	-	-	2,549	47,382
Caradon Area	241,041	-	.	-	14,924	255,965
Community Fund
Community First —AVDB/ Hartley	452,326	-	-	(67,695)	9,071	393,702
Fund
Community First	69,391	-	-	(6,027)	1,465	64,829
— Crisis Fund
Community First — Dennis Arbon	224,469	-	-	(36,508)	4,452	192,413
Fund
Community First	467,293	-	-	(70,780)	9,357	405,870
— Emily Balitho
Trust Fund
Community First	338,648	-	-	(58,186)	6,665	287,127
— Lord St Levan
Community First — Tregothnan	149,745	.	-	(21,682)	3,015	131,078
Foundation
Community First	266,081	-	-	(45,718)	§,236	225,599
— Scheme
Cornwall Crimebeat	34,527	-	-	-	2,138	36,665
Cornwall Glass	166,991	-	-	-	10,702	177,693
and Glazing
Friends ofCCF Grassroots	32,315 75,860	- -	- -	- -	1,785 4,715	34,100 80,575
Funds
Mining District Fund	34,562	.	-	-	4,052	38,614
Penwith and loS	257,876	-	-	-	23,126	281,002
Community Fund
Quinnian Fund	28,006	-	-	-	1,734	29,740
REG Windpower	25,015	-	-	-	1,550	26,565
Royston Leigh	57,369	-	-	-	3,552	60,919
Fund
The Eddie and	35,359	-	-	-	2,187	37,546
Vanessa George
Memorial Fund
The JackMoon	116,400	-	-	-	7,300	123,699
and Lors Trust
Tuppenny/China	466,411	-	-	-	28,872	495,283
Clay Fund
Other Funds	8,504	-	-	-	528	9,032
EXPENDABLE
ENDOWMENT
FUNDS
Amaranth	118,897	-	-	-	7,215	126,112
Bruce Davis	102,138	-	-	-	6,322	108,460
Trust
Bude Endowment	104,731	-	-	-	3,916	108,645
Fund
CCF Community	133,277	-	-	-	8,935	142,212
Fund

Page 31

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at|31| |December| |Balance|at1|Transfers|2024| |January 2024|Income|Expenditure|in/out|Gains/(Losses)|£| |£|£|£|£|£| |Community|First-|51,037|-|-|67,695|2,300|121,032| |AVDB/Hartley Fund| |Community|First|-|3,232|-|-|6,027|175|9,434| |Crisis|Fund| |Community|First|-|28,402|-|-|36,508|1,260|66,170| |Dennis|Arbon|Fund| |Community|First -|53,618|-|-|70,780|2,410|126,808| |Emily|Bolitho|Trust| |Fund| |Community|First—|46,129|-|-|58,186|2,028|106,343| |Lord|St|Levan| |Community|First-|16,127|-|-|21,682|732|38,541| |Tregothnan| |Foundation| |Community|First|—|36,244|-|-|45,718|1,693|83,555| |Scheme| |Cornwall|13,813|-|-|-|855|14,668| |Crimebeat| |Cornwall|Glass|and|196,186|95,000|-|47,500|15,582|354,268| |Glazing| |Development|41,195|-|-|-|513|11,708| |Endowment|Fund| |Harrison|Family|155,122|5,536|-|(1,992)|6,478|165,204| |Fund| |Healeys|Charitable|65,179|-|-|-|4,248|69,427| |Fund| |Karenza|333,849|20,000|-|10,000|21,137|384,986| |Endowment|Fund| |Lanherne|Fund|124,006|-|-|-|7,165|131,171| |Lilian Simons|110,686|1,773|-|(80,432)|(8,224)|23,803| |Legacy Fund| |Mining District|Fund|58,851|-|-|(2,375)|999|57,475| |North|Cornwall|141,196|2,575|-|*|8,462|152,233| |Area|Fund| |Patrixbourne|Fund|201,230|-|-|-|12,449|213,679| |Ruth|Burden|61,000|4,000|-|2,000|-|67,000| |Community|Trust| |Tanner|Phoenix|2,344,854|1,400,000|-|-|112,980|3,857,834| |Fund| |Terence|Beer|Trust|23,431|-|-|-|1,449|24,880| |The Trewithen|Fund|255,740|-|-|-|14,219|269,959|

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

eee

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Balance|at|31| |Balance at1|Expenditure|Transfers|December| |January 2024|Income|£|in/out|Gains/(Losses)|2024| |£|£|£|£|£| |Tregothnan|61,820|7,215|-|(2,915)|3,021|69,141| |Expendable| |Endowment|Fund| |Viscountess Boyd|919,223|-|-|:|55,960|975,183| |Charitable|Trust| |The Worval|203,734|30,000|.|15,000|12,367|261,101| |Foundation| |Young|and|Talented|335,121|-|-|-|19,788|354,909| |Young|Minds|First|413,558|10,811|-|5,405|18,467|448,241| |Other|Funds|4,831|1,146|-|(368)|7|5,609| |SUBTOTAL|10,479,106|1,578,056|-|(8,117)|502,284|12,551,329| |Permanent|Endowments:| |AVDB/Hartley|Fund|- donor directed|fund|for community|projects generally|in|the|Newquay area| |Business Club|—- awards community|projects|across Cornwall| |Caradon Area Community Fund - legacy|fund|for community|projects|in SE|Cornwall| |Community|First|-|AVOB/Hartley|Fund|- donor|directed fund|for|community projects|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|reduce offending|in|Cornwall and|the Isles of Scilly| |Corwall 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|Isles|of|Scilly| |Quinnian|Fund -donor directed fund|for community|projects| |REG Windpower- community|benefit fund|for projects|in|the TR12|postcode area|

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Royston Leigh Fund — donor directed tund for community projects

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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

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Expendable Endowments:
Amaranth Fund -this fund welcomes applications for projects on the Roseland, but also considers Falmouth
and St Austell areas
Bruce Davis Trust 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 fram outside the Bude area
CCF Community Fund - the CCF's awn fund for community projects
Community First- AVDB/Hartley Fund—- donor directed fund for community projects 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 communily 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 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
Healeys Charitable Trust Fund —-the fund welcomes applications for entrepreneurial young people to support
their business ideas and grant funding
Karenza 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 Isles of Scilly
Lilian Simons Legacy Fund -to provide match-funding for the 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
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Patrixbourne Fund —cammunity 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, Lanwhittan, South Petherwin and Lezant

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Tanner Phoenix Fund— donor directed fund for community projects (across Cornwall and Isles of Scilly) and may consider applications from outside 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 tor emergency assistance

Viscountess Boyd Charitable Trust -this fund welcomes application from South East Cornwall. The Fundholders may consider other applications from Cornwall and outside Cornwall. Priority will be given to organisations working on church restoration, mental wellbeing, gardening and horticulture 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 Isles of Scilly

Young Minds First —to support projects in Cornwall and 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 difficulties

Other funds — other smaller funds for charitable activities

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||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |Balance|at1|31| |January|Transfers|December| |2024|Income|Expenditure|in/out|Gains/(Losses)|2024| |£|£|£|£|£|£| |RESTRICTED| |FUNDS| |Amaranth|Fund|4,696|4,988|(5,803)|(2,139)|-|1,742| |AVOB/Hartley|11,713|21,480|(11,500)|(9,670)|-|12,023| |Fund| |Boyton|Solar and|57,837|218|(57,958)|-|-|97| |Wind|Farm| |Community Fund| |Brighter Futures|10,000|60,000|(9,090)|(40,909)|.|20,001| |Fund| |Bude Area|Fund|4,170|3,335|(4,278)|(1,591)|-|1,636| |Business|Club|11,748|53,202|(45,084)|(11,988)|7,878| |Caledonia|16,732|25,000|(48,099)|42,785|-|36,419| |Investments| |Charitable| |Foundation| |Caradon Area|11,426|9,866|(10,077)|(4,172)|-|7,043| |Community Fund|

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

eea nn

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|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at| |Balance|at1|Eh!| |January|Transfers|December| |2024|Income|Expenditure|infout|Gains/(Losses)|2024| |£|£|£|£|£|£| |Care|Leaver|.|74,500|(70,000)|(2,993)|-|1,507| |Project| |CCF Community|85,825|212,385|(162,890)|49,456|-|184,776| |Fund| |CCF|Endowment|62,115|-|-|-|2,739|64,854| |Match|Fund| |Charles|Reynolds|20,037|-|(1,000)|(100)|.|18,937| |Fund| |Commissioner's|51,098|66,667|(65,176)|(9,776)|-|42,813| |Community|Grant| |Scheme| |Cornwall Club|5|68,268|(7,088)|(61,185)|-|5| |Cornwall|6,694|3,450|-|(657)|92|9,579| |Crimebeat| |Cornwall|Women|6,960|9,705|(6,852)|(1,791)|.|8,022| |Cornwall Social|230,764|7,446|(176,402)|(26,460)|-|35,948| |Enterprise| |Cost of Living|40,897|§77,200|(517,951)|(51,787)|:|48,359| |Crisis| |Crisis|Fund|64,226|45,504|(37,100)|(4,538)|1,024|69,116| |Dennis Arbon|17,890|7,413|-|(3,238)|-|22,065| |Fund| |East|Langford|26,070|47,649|(14,196)|(5,866)|-|53,657| |Solar|Farm| |Emergency Fund|46,422|*|-|-|-|48,422| |Emily Bolitho|Trust|16,272|15,271|(10,948)|(7,767)|-|12,828| |Fund| |Francis|Rowe|6,250|.|(2,000)|(200)|-|4,050| |Fund| |Friends|5,222|32,703|{207)|(27,496)|-|10,222| |Goonhilly|Wind|79,818|80,465|(34,100)|(12,245)|-|113,938| |Farm Community| |Fund| |Healeys|10,022|2,777|-|(891)|-|11,908| |Entrepreneurs| |Fund| |Kala|Power|78,989|46,733|(39,240)|(5,947)|-|80,535| |Limited|(Howton| |Solar|Farm)| |Housing|Crisis|-|25,000|-|-|-|25,000| |Fund| |Karenza|Fund|11,640|24,222|(18,240)|(6,492)|-|11,130| |Lanherne|Fund|13,082|4,686|(11,100)|(2,616)|-|4,052| |Lord|St|Levan|-|11,281|-|(11,281)|-|-| |Fund| |Luxulyan|Parish|33,628|19,915|(12,379)|(1,238)|-|39,926| |Council| |Manor Farm Solar|42,973|47,668|(9,856)|(6,064)|-|74,721|

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Page 36

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

———

	Balanceat1					Balance at
	January 2024	Income	Expenditure	Transfers in/out	Gains/(Losses)	31 December
	£	£	£	£	£	2024
						£
Marine and	100,000	-	(40,833)	(6,125)	-	53,042
Environmental
Fund
NHSCornwall&	3,370	-	-	.	-	3,370
IOS ICB Health
andWellbeing
NorthCornwall	5,950	8,286	(7,689)	(3,002)	-	3,545
Area Fund
North Petherwin	34,956	6,102	-	-	:	41,058
CommunityFund
Penwith and loS	8,956	12,864	(14,899)	(1,490)	-	5,431
AreaCommunity
Fund
People in Mind	-	204,000	(175,566)	(17,557)	-	10,877
Community
WellbeingFund
Police Property	35,690	24,560	(14,249)	(2,137)	-	43,864
ActFund
Royston Leigh	2,735	2,534	(350)	(848)	158	4,229
Fund
Sedel-Collings	21,360	300,000	(188,406)	(19,143)	-	113,811
Foundation
SWEF	30,504	-	(21,618)	(2,702)	-	6,184
SurvivingWinter	140,908	235,530	(282,811)	(18,475)	-	75,152
Fund
TamponTaxFund	1,406	-	-	-	-	1,406
Tanner Phoenix	118,590	167,213	(81,227)	(71,783)	-	132,793
Fund
Terence BeerTrust	1,283	959	-	(308)	-	1,934
TrenouthSolar	55,283	24,434	(40,550)	(2,956)	-	36,211
Fund
Trewen Fund	31,882	1,280	-	(410)	1,978	34,730
Trewithen Fund	9,142	13,676	(9,500)	(4,783)	96	8,631
TuppennyFund	12,769	19,087	(16,860)	(7,808)	-	7,188
VCSE Health	709,500	.	(645,000)	(64,500)	:	-
Improvement
Fund
Viscountess Boyd	14,998	37,443	(20,503)	(14,107)	-	17,831
Charitable Trust
WelcomeFund	10,554	-	(7,457)	(959)	-	2,138
TheWorval	21,934	80,327	(86,891)	8,066	.	23,436
Foundation
YoungCarers	13,751	10,486	(4,000)	(400)	-	19,837
Young and	95,787	124,270	(104,707)	40,164	-	156,136
Talented
Young Minds First	8,428	15,664	(4,750)	(5,980)	-	13,362
#iwillcampaign	1,490	700	1,817	(4,007)	-	-
(Youth Social
Action Fund)
Other Funds	100,950	144,912	(145,763)	(21,762)	-	78,337
SUBTOTAL	2,679,347	3,043,324	(3,300,426)	(451,868)	6,087	1,976,464

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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Amaranth Fund -this fund welcomes applications for projects on the Roseland, but also considers Falmouth
and St Austell areas
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AVDB/Hartley Fund - donor directed fund for community projects in Newquay area Boyton Solar and Wind Farm Community Fund - for community projects with Boyton parish Brighter Futures Fund- this fund will provide support across Cornwall & IOS, to young people through education and learning; to improve health and wellbeing; to protect and improve the local environment Bude Endowment Fund — donor directed fund for community projects in the Bude area and may consider applications from outside the Bude area
Business Club - awards 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 financial education of adults and children
Caradon Area Community Fund - legacy fund for community projects in SE Cornwall
Care Leavers Project - a partnership between Cornwall Community Foundation and Carefree Cornwall dedicated to supporting young people in or leaving care

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 and Isles of Scilly
Cornwall Club - the CCF's philanthropy arm for those living outside Cornwall

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Cornwall Crimebeat —fund to support projects that help reduce offending in Cornwall and the Isles of Scilly
Cornwall Women's Fund —the criteria are broad and similar to the Tampon Tax Fund -to support projects
where women and girls are the beneficiaries
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Cornwall's Social Enterprise Fund —to create employment, apprenticeships and training opportunities, and
to improve skills leading to 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 adversely impacted by the significant rise in cost of living
Crisis Fund — provides grant assistance to individuals, families and communities in crisis situations
Dennis Arbon Fund - donor directed fund
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East Langford Solar Farm - community benefit fund for Kilkhampton, Launcells and Morwenstow Emergency Fund —fund to provide emergency support to those affected by natural disaster

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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
Francis Rowe Fund- this fund welcomes applications from projects in North East Cornwall. The fund supports
projects helping elderly people; young people; mental health and wellbeing; rural isolation
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Friends - CCF’s membership scheme

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Goonhilly Wind Farm Community Fund- for community projects in the Goonhilly area
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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Healeys Charitable Trust Fund — the fund welcomes applications for entrepreneurial young people to support their business ideas and grant funding Kala Power Limited (Howton Solar Farm)community benefit fund for 5 parishes in SE Cornwall Housing Action Fund —to provide urgent support to those at risk of losing their homes and increase the number of affordable housing options across the region. This fund will support local groups working on the frontlines of homelessness, help build affordable homes, and advocate for long-term solutions Karenza 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 improvingthe natural environment in Cornwall and Isles 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 Solar Farm —for community projects In the Burngullow/St Austell area Marine & Environmental Fundwill support projects which address themes relating to community action, improving infrastructure and innovation NHS Cornwall& 10S ICB Mental Health & Wellbeing Fund - the core aim is to improve the emotional wellbeing and mental health of children and young people this is to improve children’s and young people's resilience and self-care, to improve emotional wellbeing and emotional regulation, to alleviate and reduce stress and stress-related anxiety and depression, and to increase protective factors to mental health and wellbeing 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 Fundfor 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

People in Mind Community Wellbeing Fund - this fund forms part of a wider project administered by Cornwall Voluntary Sector Forum on behalf of Cornwall & IOS Integrated Care Board and Cornwall Public Health Services. The intended key outcomes of the fund are to support the reduction of the suicide rate in Cornwall & IOS, and to improve wellbeing, social connection and financial security

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Police Property Act Fund — will focus on supporting communities to provide diversionary activities fram drugs
related anti-social behaviour
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Royston Leigh Fund - donor directed fund for community projects

Sedel-Collings Foundation — supports local voluntary sector and community groups in Cornwall and |OS which work to improve the lives of people in their communities SWEF (South West Enterprise Fund) -—to support a variety of young Cornish peaple who co 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 potential Tanner Phoenix Trust— donor directed fund for community projects (across Cornwall and Isles of Scilly) and may consider applications from outside Cornwall Terence Beer Trust—- aims to help provide support for disadvantaged children and young peaple, primary age between 11-25 years of age but not exclusively, who are unable to achieve their potential due to financial circumstances

Page 39

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Trenouth Solar Farm - community benefit fund for4 parishes in North Cornwall

Trewen Fund — community benefit fund for Trewen Parish

The 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 China Clay area

VCSE Health and Improvement Fund - this fund farms part of a wider project administered by Cornwall Voluntary Sector Forum on behalf of Cornwall &/OS Integrated Care Board and Cornwall Public Health Services. The intended key autcomes of the fund are to address gaps in the provision of health and care pathways; create accessible grassroot safe places; increase availability of VCSE service and activities to reduce demand on primary and secondary care services; breakdown barriers to accessing services and activities in deprived communities; tackle healthcare inequalities; provide services to reach the most isolated and atrisk within communities

Viscountess Boyd Charitable Trust — this fund welcomes application from South East Cornwall. The Fundholders may consider other applicatians from Cornwall and outside Cornwall. Priority will be given to organisations working on church restoration, mental wellbeing, gardening and horticulture project

Welcome Fund — provides financial support to refugees in Cornwall

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 an 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 for young carers

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

Young Minds First-to support projects in Cornwall and 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 difficulties

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 activities

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Balance at
31
Balance at 1 Transfers December
January 2024 Income Expenditure in/out Gains/(Losses) 2024
£ £ £ £ £ £
UNRESTRICTED
FUNDS
General Funds 788,150 201,259 (649,849) 459,985 (2) 799,543
TOTAL OF FUNDS 13,946,603 4,822,639 (3,950,275) - 508,369 15,327,336
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Page 40

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Prior Year Endowment Funds

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|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at1|Balance|at 31| |January|Transfers|December| |2023|Income|Expenditure|in/out|Gains/(Losses)|2023| |£|£|£|£|£|£| |PERMANENT| |ENDOWMENT| |FUNDS| |AVDB/Hartley Fund|156,863|-|-|-|724|157,587| |Business Club|45,118|-|-|-|(285)|44,833| |Caradon Area|242,582|-|-|-|(1,541)|241,041| |Community|Fund| |Community|First -|460,352|=|-|(47,762)|39,736|452,326| |AVDB/Hartley Fund| |Community|First-|66,416|-|-|(3,024)|5,999|69,391| |Crisis|Fund| |Community First-|231,263|-|-|(26,580)|19,786|224,469| |Dennis|Arbon|Fund| |Community First=|476,401|:|-|(50,178)|41,070|467,293| |Emily|Bolitho|Trust| |Fund| |Community First-|266,418|-|-|42,311|29,919|338,648| |Lord|St|Levan| |Community|First=|151,698|-|-|(15,092)|13,139|149,745| |Tregothnan| |Foundation| |Community First-|361,972|-|-|(119,398)|23,507|266,081| |Scheme| |Cornwall|Crimebeat|34,748|-|-|-|(221)|34,527| |Cornwall Glass and|169,772|-|-|-|(2,781)|166,991| |Glazing| |Friends|of|CCF|32,526|-|.|-|(211)|32,315| |Grassroots|Fund|76,339|-|”|-|(479)|75,860| |Mining|District|Fund|35,045|-|-|.|(483)|34,562| |Penwith|and|loS|258,567|-|-|-|(691)|257,876| |Community Fund| |Quinnian|Fund|28,185|-|-|-|(179)|28,006| |REG Windpower|25,175|-|-|-|(160)|25,015| |Royston Leigh|Fund|57,735|-|-|-|(366)|57,369| |The|Eddie|and|35,587|-|-|-|(228)|35,359| |Vanessa|George| |Memorial|Fund| |The|Jack Moon and|417,120|-|-|-|(720)|116,400| |Lors|Trust| |Tuppeny/China|Clay|469,386|-|-|-|(2,975)|466,411| |Fund| |Other Funds|8,559|-|-|-|(55)|8,504| |EXPENDABLE| |ENDWOWMENT| |FUNDS| |Amaranth|111,947|5,000|-|2,500|(500)|118,897| |Bruce|Davis|Trust|102,791|-|-|-|(653)|102,138| |Bude|Endowment|88,030|15,000|.|-|1,701|104,731| |Fund| |CCF Community|137,027|-|-|.|(3,750)|133,277| |Fund| |Community First-|.|-|-|47,762|3,275|51,037| |AVDB|Hartley Fund|

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Page 41

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

	Balance at‘					Balance at 31
	January			Transters		December
	2023	Income	Expenditure	in/out	Gains/(Losses)	2023
	£	£	£	£	£	£
CommunityFirst-	-	-	-	3,024	208	3,292
Crisis Fund
Community First-	-	-	-	26,580	1,822	28,402
Dennis Arbon Fund
Community First-	-	-	-	50,178	3,440	53,618
Emily Bolitho Trust
Fund
CommunityFirst-	-	-	-	43,169	2,960	46,129
Lord St Levan
CommunityFirst-	-	-	-	15,092	1,035	16,127
Tregothnan
Foundation
CommunityFirst-	-	-	-	33,918	2,326	36,244
Scheme
CornwallCrimebeat	13,902	-	-	-	(89)	13,813
Cornwall Glassand	30,000	110,000	-	55,000	1,186	196,186
Glazing
Development	11,287	-	.	-	(92)	11,195
Endowment Fund
Harrison Family Fund	147,954	6,151	-	(1,825)	2,842	155,122
Healeys Charitable	65,572	-	-	-	(393)	65,279
Fund
Karenza Endowment	335,982	-	-	-	(2,133	333,849
Fund
Lanherne Fund	124,615	-	-	-	(609)	124,006
LilianSimons Legacy	152,645	42,839	-	(91,251)	6,453	110,686
Fund
Mining District Fund	66,583	-	-	(9,000)	1,353	58,851
North Cornwall Area	138,663	2,850	-	-	(317)	141,196
Fund
Patrixbourne Fund	202,518	-	-	-	{1,288)	201,230
Ruth Burden	46,000	10,000	-	5,000	-	61,000
Community Trust
Tanner Phoenix Fund	2,362,923	-	-	(60,000)	41,931	2,344,854
Terence Beer Trust	23,580	-	-	-	(149)	23,431
TheTrewithen Fund	218,490	25,000	-	12,500	(250)	255,740
Tregothnan	56,997	7,232	-	(2,664)	255	61,820
Expendable
Endowment Fund
ViscountessBoyd	923,984	-	-	-	(4,761)	919,223
Charitable Trust
TheWorval	158,271	30,000	-	15,000	463	203,734
Foundation
Youngand Talented	334,734	-	-	-	387	335,121
YoungMinds First	406,059	-	-	-	7,499	413,558
Other Funds	3,825	1,353	-	(347)	-	4,831
SUBTOTAL	10,072,161	255,425	-	(75,087)	226,607	10,479,106

Page 42

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Prior Year Restricted Funds

	Balanceat1					Balance at31
	January			Transfers		December
	2023	Income	Expenditure	in/out	Gains/(Losses)	2023
	£	£	£	£	£	£
RESTICTED FUNDS
Amaranth Fund	1,756	6,681	(2,002)	(1,739)	-	4.696
AVDB/HartleyFund	11,017	23,192	(13,270)	(9,286)	:	11,713
Boyton SolarandWind	59,283	12,825	(12,973)	(1,298)	.	57,837
FarmCommunityFund
BrighterFuturesFund	-	50,000	-	(40,000)	-	10,000
BudeAreaFund	4,859	3,709	{3,000)	(1,398)	-	4,170
BusinessClub	4,782	55,297	(37,309)	(11,1172)	-	11,748
Caledonia Investments	14,640	75,000	(63,398)	(9,510)	-	16,732
Charitable Foundation
CaradonArea	2,763	11,646	-	(2,983)	-	11,426
Community Fund
CCF CommunityFund	132,180	286,984	(491,111)	154,944	2,831	85,825
CCF Endowment	60,964	-	-	-	1,151	62,115
Match Fund
CharlesReynoldsFund Commissioner's	2,737 -	25,000 66,667	(7,000) (13,019)	(700) (2,550)	. -	20,037 51,098
CommunityGrant
Scheme
CarnwallClub Cornwall Crimebeat Cornwall Women CornwallSocial	119 3,511 15,416 447,040	351,361 3,821 8,897 5,067	(65,730) - (14,486) (192,472)	(285,745) (620) (2,867) (28,871)	- (1B) - -	5 6,694 6,960 230,764
Enterprise
Cost of Living Crisis Crisis Fund	114,649 55,648	281,433 35,605	(334,554) (28,800)	(20,681) 1,956	. (183)	40,897 64,226
DennisArbon Fund	13,610	7,299	-	(3,019)	-	17,890
East Langford Solar	43,181	45,294	(60,583)	(1,822)	-	26,070
Farm
EmergencyFund	43,467	-	3,873	1,082	-	48,422
EmergencyFund-	1,082	-	-	(1,082)	-	-
Build Back Better
EmilyBolitho Trust	16,912	15,037	(8,308)	(7,369)	-	16,272
Fund
FrancisRowe Fund Friends Goonhilly Wind Farm	- - 79,631	20,000 33,142 76 751	(12,500) (118) (66, 2	(1,250) (27,802) 10 436	: - -	6,250 5,222 79 818
CommunityFund
HealeysEntrepreneurs	7,901	3,272	-	(1,151)	-	10,002
Fund
Kala PowerLimited	76,056	44,440	(36,055)	(5,452)	-	78,989
(Howton SolarFarm)
KarenzaFund Lanherne Fund	4,129 8,037	36,127 8,037	(21,350) (1,369)	(7,266) (1,623)	- -	11,640 13,082
Lord St Levan Fund	:	10,533	-	(10,533)	-	-
Luxulyan Parish	26,974	14,400	(7,042)	(704)	-	33,628
Council
ManarFarm Solar	45,551	44,624	(41,980)	(5,222)	-	42,973
Marineand	100,000	-	-	-	.	100,000
EnvironmentalFund

Page 43

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at1|Balance|at|31| |January|Transfers|December| |2023|Income|Expenditure|in/out|Gains/(Losses)|2023| |£|£|“4|£|£|£| |NHS|Cornwall &|loS|-|345,000|(297,070)|(44,560)|:|3,370| |ICB|Health|and| |Wellbeing| |North|Cornwall Area|17,126|9,547|(16,500)|(4,223)|-|5,950| |Fund| |North|Petherwin|30,922|7,494|(2,800)|(500)|-|34,956| |Community|Fund| |Penwith and|loS Area|9,352|14,448|(13,304)|(1,540)|-|8,956| |Community|Fund| |People|In|Mind|-|204,000|(185,455)|(18,545)|:|.| |Community|Wellbeing| |Fund| |Police|Property Act|48,020|35,690|(41,757)|(6,263)|.|35,690| |Fund| |Royston|Leigh|Fund|4,512|2,977|(3,550)|(1,123)|(81)|2,735| |Sedel-Collings|262,050|-|(215,159)|(25,531)|-|21,360| |Foundatian| |SWEF|43,396|-|(11,459)|(1,433)|.|30,504| |Surviving Winter Fund|157,457|223,698|(218,419)|(21,828)|.|140,908| |Tampon|Tax|Fund|1,406|-|-|-|:|1,406| |Tanner Phoenix|Fund|66,365|99,075|(66,150)|19,300|-|118,590| |Terence|Beer|Trust|440|1,132|-|(289)|.|1,283| |Trenouth|Solar|Fund|35,091|23,073|(171)|(2,710)|*|55,283| |Trewen|Fund|32,582|1,516|(1,496)|(537)|(183)|31,882| |Trewithen|Fund|4,375|13,425|(5,000)|(3,641)|(17)|9,142| |Tuppeny Fund|14,921|22,531|(17,192)|(7,491)|:|12,769| |VCSE|Health|-|709,500|-|-|-|709,500| |Improvement|Fund| |Viscountess|Boyd|14,979|44,068|{29,709)|(14,340)|.|14,998| |Charitable|Fund| |Welcome|Fund|26,354|-|(14,364)|(1.436)|-|10,554| |The Worval|Foundation|9,197|109,508|(100,721)|3,950|-|21,934| |Young Carers|4,575|10,321|(996)|(149)|-|13,751| |Young and Talented|75,269|56,023|(65,710)|30,205|-|95,787| |Young Minds|First|5,328|17,072|(8,100)|(5,872)|-|8,428| |#iwill campaign|(Youth|126,332|1,200|(112,356)|(13,686)|-|1,490| |Social|Action|Fund)| |Other Funds|85,131|114,862|(87,992)|(11,121)|-|100,950| |SUBTOTAL|2,473,165|3,728,141|(3,045,984)|(479,475)|3,500|2,679,347|

----- End of picture text -----

Prior Year Unrestricted Funds

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |31| |Balance|at|1|Transfers|December| |January|2023|Income|Expenditure|in/out|Gains/(Losses)|2023| |£|£|£|£|£|£| |UNRESTRICTED| |FUNDS| |General|Funds|577,716|139,673|(483,786)|554,562|{15)|788,150| |TOTAL OF FUNDS|13,123,042|4,123,239|(3,529,770)|-|230,092|13,946,603|

----- End of picture text -----

Page 44

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD

		Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	funds
		2024	2024	2024	2024
		£	£	£	£
	Fixed asset investments	-	127,257	12,466,700	12,593,957
	Current assets	841,854	1,915,512	84,629	2,841,995
	Creditors due within one year	(42,311)	(66,305)	-	(108,616)
	TOTAL	799,543	1,976,464	12,551,329	15,327,336
	ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
		Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	funds
		2023	2023	2023	2023
		£	£	£	£
	Fixed asset investments	129,421	.	10,385,356	10,514,777
	Current assets	704,822	2,679,347	93,750	3,477,919
	Creditors due within one year	(46,093)	-	-	(46,093)
	TOTAL	788,150	2,679,347	10,479,106	13,946,603
	RECONCILIATION OF NET MOVEMENT IN FUNDS TO NETCASH		CASH FLOW	FROM OPERATING
19.	ACTIVITIES

	2024	2023
	£	£
Net income for the period (as per Statement of Financial Activities)	1,380,733	823,561
ADJUSTMENTS FOR:
Depreciation charges	-	1,811
Decrease/(increase) in debtors	758,083	(765,579)
Increase/(decrease) in creditors	62,523	(60,993)
Investment income	(481,764)	(481,100)
Losses/(gains) on investments	(508,369)	(230,092)
NETCASHPROVIDEDBY/(USEDIN)OPERATINGACTIVITIES	1,211,206	(712,392)

Page 45

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

20. ANALYSIS OF CASH AND CASH EQUIVALENTS

			2024	2023
			£	£
Cash	in	hand	2,789,392	2,667,233

21. ANALYSIS OF CHANGES IN NET DEBT

						At1		At 31
						January 2024	Cash flows	December 2024
						£	£	£
Cash	at	bank	and	in	hand	2,667,233	122,159	2,789,392

22. GRANT COMMITMENTS

At the year end, the Charity had commitments to pay grants due within one year of £40,977 (2023: £53,419).

PENSION COMMITMENTS

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions paid by the Charity to the fund and amounted to £14,278 (2023: £14,685).

Contributions totalling £2,388 (2023: £1,843) were payable to the fund at the balance sheet date and are included in creditors.

24. OPERATING LEASE COMMITMENTS

At 31 December 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

	2024	2023
	£	£
Not later than 1 year	19,070	10,880
Later than 1 year and not later than 5 years	87,603	20,047
Laterthan 5 years	17,168	-
	123,841	30,927

Page 46

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

25. RELATED PARTY TRANSACTIONS

During the year, the following income was received from Trustees:

¢ Membership income from Trustees £10,400 (2023: £1,670). No amounts outstanding at the year end (2023: ENil).
Fundraising event income from Trustees £9,294 (2023: £1,010). No amounts outstanding at the year end (2023: ENil).
e Donations including donations of auctions prizes and experiences from Trustees £44,025 (2023: £30,527). No amounts outstanding at the year end (2023: ENil).

During the year, St Petrocs (Charity number: 12320784) received 9 grants totalling £56,309 (2023: Nil). The Rt Rev Hugh Nelson held the position of President. No amounts were payable at year end (2023: ENil).

During the year, Cornwall Historical Churches Trust (Charity number: 218340) received 1 grant totalling £7,000 (2023: ENil). Mr Jeremy Sharp held the position of Grants Secretary. No amounts were payable at year end (2023: ENil),

During the year, Lynher Dairies Limited (Registration number: 03320018) made donations of £1,400 (2023: ENil) and membership payments of £1,000 (2023: E£Nil). Mr Shaun Sawyer has a close family relation with the sole director. Fundraising event income from the close family relation totalled £320 (2023: ENil). No amount were owed at year end (2023: ENil).

During the year, Stephens Scown LLP (Registration number: OC356696) made a donation of £1,000 (2023: £nil) as a result of proceeds from a transaction with Mr Stamford Galsworthy. No amounts were payable at year end (2023: ENil).

26. CONTROLLING PARTY

The Charity is controlled by the Board of Trustees,

Page 47

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

27. LIST OF GRANTS PAID IN YEAR

Fund/Recipient	Amount Distributed (£)
Amaranth Fund	5,800
Falmouth & Penryn Welcome Refugees	2,500
Gylly Wellbeing Swimmers	1,800
The Feel Safe Scheme	1,500
AVDB/Hartley Fund	11,500
Alma Artspace	3,000
Newquay Association Football Club	2,500
St Eval Community Action Forum (SECAF) CIC	2,500
The Clothes Horse (2 grants)	2,000
The Oasis Centre	1,500
Brighter Futures Fund	9,090
The Hugs Foundation	9,090
Bude Area Fund	4,278
Blend Youth Collective CIC	1,864
The Pearl Exchange	2,414
Business Club	44,435
A.S.K 4 All	940
Cornwall One Parent Support ClO	1,835
Fluxus Cornwall CIC	2,421
Gerrans & St Mawes United	6,200
Helston Sandokai Karate	2,500
Kinsman and Treningle Tenants and Residents Association	3,750
Lanner & District Silver Band	1,764
Lunar Agile Learning Centre CIC	3,000
Mylor Sailability	3,000
National Coastwatch Institution	3,000
Newquay Wellbeing Club	2,000
St Mabyn Peace Memorial Hall	3,000
The Centre of Pendeen	2,025
The Salvation Army, Newquay	5,000
The Sparkle Foundation UK	3,000
Trenance LearningAcademy PTA	1,000
Caledonia Investments Charitable Foundation	48,099
Citizens Advice Cornwall	3,669
Cornwall Rural Community Charity	10,000
ECCABI	9,880
Smart Savings SouthWest CIC	5,000
St Petrocs	5,000
West Cornwall Women's Aid	14,550
Caradon Area Community Fund	10,077
Crafthole Community Shop CIC	4,250
St Martin's Church	820
The Peninsula Trust	3,507
Upton Cross PTA	1,500
Care Leavers Fund	70,000
CarefreeFosteringIndependenceCornwall	70,000

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Carew Pole Charitable Trust	37,324
Bandwagon	1,000
Be Creative Cornwall	2,000
Cornwall Grows	500
Cornwall Heritage Trust	500
Cornwall's Regimental Museum	2,000
Cruse Bereavement Care	2,000
Dance Centred CIC	1,000
Deviock Activities Group	1,000
Devon and Cornwall Furniture Reuse Project Ltd	2,000
EFGI Cornwall Aid Centre	1,000
Engineering Development Trust	2,000
Pensilva Memory Café	500
Pigshill & Clarrick Woods Community Interest Company	1,500
Sensory Trust	1,500
St Petrocs	1,824
StreetVet	2,500
Sue Hooper Charitable Foundation	500
Tamar Valley Preschool	4,000
The Core	2,500
The Gover Community Larder	1,000
The Hugs Foundation	1,000
The Salvation Army, Newquay	1,500
The Wave Project	1,000
True Butterflies Foundation	2,000
Youth Mental Health Foundation CIC	1,000
CCF Community Fund	162,418
Black Voices Cornwall	5,000
Budock Water Playing Field Association	7,500
Carefree Fostering Independence Cornwall	3,856
Chapel Street Music	5,000
Cornwall Community Land Trust	10,000
Cornwall Independent Poverty Forum	3,000
Cornwall Voluntary Sector Forum	4,000
Creative Kernow	10,000
Disability Cornwall	15,359
Falmouth & Penryn Welcome Refugees	2,500
Food troops CIC	2,530
FWAG South West	4,500
Kernow Positive Support	4,924
Launceston Foodbank	400
Pnz Youth CIC	6,250
Redruth Cricket Club	5,000
Rice and Peas (Community) CIC (2 grants)	6,000
Smart Savings South West CIC	5,000
St Austell Foodbank	400
St Columb Major Boxing Club	1,250
St Keyne Village Hall	3,000
St Petrocs	5,000
The Pearl Exchange	25,000
Transformation Cornwall	750
Trelawny Plate Award	6,000
Trevisker Community Meadow CIC	2,820
Truro Foodbank	400
Charles Reynolds Fund	1,000
Cscape Dance Company	2,250
ReturnedGrants	(1,250)

Page 49

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Clare Milne Trust	19,840
Association ofAccessible Employers CIC	2,250
Blind At Sea (BATS)	2,500
Choose Nature CIC	2,500
Cirque du Ciel	2,500
Drama Express	2,000
Freedom OCD Cornwall Support Group	1,090
Penlee Family Project	2,000
True Butterflies Foundation	2,500
Young People Cornwall	2,500
Commissioner's Community Grant Scheme	65,176
Asgard Cornwall	4,934
Battling On CIC	5,000
Callington Youth Project Group	5,000
Cornwall People First	4,830
Gateway 2 New Life	3,000
Lighthouse Community Centre CIC	5,000
Pegasus — Men's Wellbeing Centre CIC	5,000
SupasportSW CIC	2,412
The Groundwork South Trust Limited	5,000
The Sparkle Foundation UK	5,000
TR7 Indoor Skatepark CIC	5,000
Truro Cathedral	5,000
Whole Again Communities CIC	5,000
Young People Cornwall	5,000
Cornish Lithium Community Fund	26,908
Active Plus CIC	2,000
ClayTAWC Ltd	1,950
Croftyhand Village Hall	2,000
Georgia's Voice	1,000
Headway Cornwall	1,250
Imerys Bowling Club	820
MHA Communities Cornwall	2,290
Moorvision	1,000
Mount Hawke Youth Group	1,500
Porthtowan Surf Life-Saving Club	2,000
Redruth Cricket Club	1,250
Roche Brass	2,000
StDay Youth & Sports Association	2,000
StDay Old Church Community Interest Company	2,000
Sunny Days Nursery and Preschool	1,000
Sunrise Cornwall CIC	1,000
Travellerspace	1,098
Cornwall Glass & Glazing Fund	15,963
Beach Guardian CIC	1,472
Cruse Bereavement Care	1,500
Friends of Cornwall Youth Choirs (FoCYC)	1,500
Home Start Kernow	1,500
Padstow and District Community Transport	1,500
Penhaligon's Friends	1,000
St Austell Festival of Children’s Literature	1,500
St Day Old Church Community Interest Company	600
Swamp Circus Trust Limited	1,500
The Old Bank, Camelford	1,000
VocalFootprintCommunityInterestCompany	1,491

Page 50

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Whole Again Communities CIC	1,400
Cornwall Social Enterprise Fund	176,402
Beach Guardian CIC	8,000
Clear Emotional Trauma and Therapy Specialists	18,724
Create (Cornwall) CIC	29,000
Fish Factory Studios CIC	15,680
FOWLC Community Interest Company	20,000
GWArts CIC	19,947
RJ Working	5,000
St Ives Orchard CIC	10,000
St Day Old Church Community Interest Company	9,250
Transformation CPR	10,000
Turn to Starboard	19,996
Via Ferrata Cornwall CIC	10,805
Cornwall Women's Fund	6,518
Choose Nature CIC	1,000
Cornwall Music Service Trust	840
Food For Families Penzance CIC	898
Kernow Youth CIC	1,000
Penlee Family Project CIC	800
Trevisker Community Meadow CIC	1,000
Wild Young Parents Project	980
Cost of Living Crisis Fund	517,868
Battling On CIC	5,000
City Life Church Truro	600
Cornwall Neighbourhoods forChange	5,000
Cornwall One Parent Support ClO	2,760
Cornwall Refuge Trust	5,000
Devon and Cornwall Food Action	4,900
EFGI Cornwall Aid Centre	5,000
Fentenfenna Farm CIC (Hot Meals Fund — 2 grants)	100,000
Growing Links (Hot Meals Fund —2 grants)	188,000
Jump with Jo CIC	2,000
Kernow Positive support	4,968
Lanivet Parish Support and Recreational Trust	5,000
Launceston Community Church	500
Lighthouse Community Centre CIC	5,000
Liskeard & South East Cornwall Breather's Group	1,100
LiveWest Homes Limited (2 grants)	10,000
Lizard CHILD Trust	5,000
Miss Molly's Tearoom (Hot Meals Fund—2 grants)	32,000
Moorvision	2,500
Newquay Foodbank (2 grants)	10,000
Regenerative Food and Farming CIC	5,000
Royal Institution of Cornwall	480
Safer Stronger Communities (3 grants)	15,000
Saltash Gateway CIC	1,430
Shes Worth It CIC	5,000
Smart Savings SouthWest CIC	750
St lves Foodbank	5,000
St Austell and District Soroptimists	500
The Mustard Seed (SW)	2,000
The Old Bank, Camelford (3 grants)	15,000
The Peninsula Trust	500
The Royal Mission to Deep Sea Fisherman	5,000
TheSalvationArmy,Liskeard(2grants)	8,220

Page 51

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

The Sparkle Foundation UK (3 grants) 15,000 Transformation CPR 2,000 TRELYA 5,000 TST (South West) CIC 5,000 Wadebridge Breathers 4,800 Wadebridge Foodbank & Storehouse 900 Wave House Church (formally NCC) 5,000 We are With You (formally known as Addaction) 5,000 West Cornwall Women's Aid 5,000 Whole Again Communities CIC (2 grants) 6,960 Winning Steps South West CIC (WSSW) 5,000 Crisis Fund 37,100 Community Energy Plus 3,000 Cornwall Neighbourhoods for Change 500 EFGI Cornwall Aid Centre (2 grants) 8,000 First Light South West 2,000 Helston Rugby Club 500 Kernow Youth CIC 1,500 St Martin's Church 1,000 St Petrocs 2,500 The Mustard Seed (SW) 500 The Sparkle Foundation UK (2 grants) 7,000 Transformation CPR (2 grants) 4,000 Trelya 3,600 Whole Again Communities CIC 3,000 East Langford Solar Farm 14,196 Grenville Management Trust 3,000 Kilkhampton School PTA 5,000 Kilkhampton Village Fete Committee 2,218 Launcells Playing Field Committee 2,500 Morwenstow Community Centre 700 Morwenstow Football Club 1,000 Woodford Community Garden 3,000 Returned Grants (3,222) Emily Bolitho Fund 10,948 5 grants to individuals 1,448 Doulas Without Borders 500 St Petrocs 2,000 Trelya 2,000 West Cornwall Women's Aid 2,000 Wetwheels South West CIC 1,000 Whole Again Communities CIC 2,000 Francis Rowe Fund 2,000 Boyton Methodist Church 2,000 Goonhilly Wind Farm Community Fund 34,100 Coverack Gig Club 5,000 Gweek Seals Under Five Playgroup 1,500 Helford River Gig Club 5,000 Helston & The Lizard Foodbank (2 grants) 4,000 Kestle Barton 2,000 Mayes Creative 900 Mullion Handbell Ringers 2,400 Mullion Old Cornwall Society 300 The Mustard Seed (SW) Ltd 3,000

Page 52

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

The Sparkle Foundation UK	5,000
Village Hall and Walled Garden Charity	5,000
Headland Hotel Community Fund	12,333
Cornwall Mind	2,753
Grow Cornwall CIC	1,880
Imagine If Partnership Ltd	1,500
Imagine Outdoors Together CIC	3,000
Newquay Boardrides Surf Club	2,000
Newquay Wild Activities	1,200
Jack Moon & Lors Trust Fund	895
LostFest	500
Lostwithiel Community Centre	395
Kala Power Limited (Howton Solar Farm)	39,240
Community Enterprises PL12 CIC	2,000
Friends of Summerfields Park	5,290
Landulph Under-5s	2,200
Pillaton and St Mellion Handbell Ringers	2,400
Salt Arts CIC	5,000
Saltash Guides	5,000
Saltash United Football Club	850
Tamar Canoe Association	5,000
The Core	1,500
The Groundwork South Trust Limited	5,000
TST (SouthWest) CIC	5,000
Karenza Fund	18,240
Choose Nature CIC	2,740
Equally Abled	2,500
KBSK Performing Arts CIC	3,000
The Hugs Foundation	5,000
Walker Lines Gymnasium Trust	5,000
Lanherne Fund	11,100
Food Troops CIC	5,070
Goonown Growers CIC	2,030
Nourish Kernow CIC	2,000
Trevisker Community Meadow CIC	2,000
Luxulyan Parish Council Fund	12,379
Innis Chapel (The Methodist Church) (2 grants)	4,006
Luxulyan Environment Green Glebe Space	1,053
Luxulyan FeastWeek Committee	2,000
Luxulyan Village Hall	3,000
PALS (Parents at Luxulyan school) (2 grants)	2,320
Manor Farm Solar Fund	9,856
Choose Nature CIC	2,472
Cornwall Heritage Trust	2,000
Merlin Neuro Therapy Centre	3,180
St Austell Table Tennis Club	2,000
To The Woods CIC	1,000
Returned Grants	(796)
Marine & Environmental Fund	40,833
Age UK Cornwall &The Isles of Scilly	5,000
BeachGuardianCIC	5,000

Page 53

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Cornwall Wildlife Trust	5,000
Friends of Mousehole Rock Pool Committee	3,000
Mayes Creative	4,985
Shaping Climate Vision CIC	2,500
The 2 Minute Foundation	5,000
TheTwo Bays Trust	5,589
Wetwheels South West CIC	4,759
Seriously Aweful Symphonia	1,635
The Old Bank, Camelford	2,580
Youth Mental Health Foundation CIC	1,636
Papillon Fund	12,272
Launceston Agricultural Association Ltd	4,000
Lifton Amateur Football Club	1,750
South Petherwin Village Hall	4,043
Werrinton Cricket Club	2,479
Penwith and 1OS Community Area Fund	14,899
A Splinter ofHope	2,500
Cornwall Community Land Trust	1,419
Growing Links	5,000
The Feel Safe Scheme	1,500
Whole Again Communities CIC	2,980
YMCA Cornwall	1,500
People in Mind Community Wellbeing Fund	175,566
Battling On CIC	10,000
Community Money Advice Launceston Limited	9,930
Imagine If Partnership Ltd	7,500
Pegasus— Men's Wellbeing Centre CIC	10,449
Plymouth Argyle Football in the Community Trust	10,000
Rice and Peas (Community) CIC)	10,449
St Petrocs	24,984
Sunrise Cornwall CIC	9,950
The Autistic Community of Cornwall	10,449
The Dracaena Centre	9,879
The Pearl Exchange	9,997
The Women's Centre Cornwall	10,000
Transparent Presence CIC	9,980
Trevow Helston CIC	9,060
Wild Young Parents Project	22,939
Police Property ActFund	14,249
A Band of Brothers Cornwall	5,000
Travellerspace	4,799
Godolphin Cross Community Association	4,450
Royston Leigh Fund	350
Truro Homeless Action Group	350
Ruth Burden Community Trust	11,478
Cornwall Music Service Trust	750
Launceston Agricultural Service Trust	1,000
Launceston In Bloom Association	600
Launceston Tennis Club	1,000
Launceston Youth Music Club	3,000
Lezant Lunch Club	528
Lezant Parish Magazine	600
OrielMinistries	3,000

Page 54

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Sedel-Collings Foundation	188,406
AnchorAnglican Church Fowey	5,000
Bodmin Light and Life Church	7,500
Bodmin Way	10,000
Choose Nature CIC	6,408
Drama Express	5,050
Equally Abled	7,400
Gateway 2 New Life	10,000
Georgia's Voice	10,000
Growing Links	10,000
KBSK Performing Arts CIC	10,000
Make it Better (Mitber) CIC	9,980
New Life Church	1,447
Promas Caring for People CIC	10,000
Redwing CIC	4,500
Regenerative Food and Farming CIC	7,299
She's Worth It CIC	3,912
St lves Community Foodshare	10,000
Sustainable Hayle	3,750
Swamp Circus Trust Limited	10,000
The Old Bank, Camelford	18,000
TheWave Project	8,000
True Butterflies Foundation	5,000
Whole Again Communities CIC	10,000
YMCA Cornwall	8,182
Returned Grants	(3,022)
Surviving Winter Fund	282,746
Anchor Anglican Church Fowey (3 grants)	1,500
Battling On CIC	5,000
Bodmin Way	5,000
Boundless Trust	5,000
Catholic Children's Society (Plymouth)	2,000
City Life Church Truro	2,951
Community Money Advice Launceston Limited	880
Cornwall Neighbourhoods forChange	5,000
Cornwall Refuge Trust	3,000
Cosgarne Hall Ltd	4,875
Devon and Cornwall Food Action (2 grants)	9,900
Devon and Cornwall Furniture Reuse Project Ltd	5,000
EFGI Cornwall Aid Centre	5,000
Food for Families Penzance CIC (2 grants)	10,000
Harmony Permaculture Ltd	2,200
Helston Rugby Club (2 grants)	10,000
Highway Church	5,000
Housing Justice	500
Isles of Scilly Charitable Trust	2,000
KBSK Performing Arts CIC	5,000
Lanivet Parish Sport and Recreational Trust	5,000
Launceston Community Church	500
Liskeard & Looe Foodbank	1,600
Liskeard & South East Cornwall Breather's Group	2,100
LiveWest Homes Limited	4,800
Moorvision Newlyn Trinity Methodist Church (2 grants)	2,750 2,250
Newquay Foodbank	5,000
Pentreath Ltd	5,000
RoyalNationalMissiontoDeepSeaFisherman	5,000

Page 55

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

RVS Neighbours Together (2 grants)	3,070
Safe Stronger Communities (3 grants)	15,000
She's Worth ItCIC (2 grants)	10,000
Smart Savings South West CIC	2,000
St Ives Foodbank (2 grants)	10,000
St Martin's Church	2,000
St Petrocs (3 grants)	15,000
The Drop in and Share Centre (DISC) Newquay	5,000
The Old Bank, Camelford (2 grants)	10,000
The Sparkle Foundation UK (3 grants)	15,000
Trelya (2 grants)	10,000
TST (South West) CIC	5,000
Wadebridge Breathers (2 grants)	6,800
WarbstowCommunity Hub	260
We are With You (formally known as Addaction)	5,000
West Cornwall Women's Aid (3 grants)	15,000
Whole Again Communities CIC (3 grants)	11,000
WildYoung Parents Project	5,000
Winning Steps South West CIC (WSSW)	5,000
Yeolmbridge Club	810
YMCA Cornwall	5,000
Young People Cornwall	5,000
Returned Grants	(2,000)
SWEF	21,618
21 grants to young entrepreneurs	21,618
Tanner Phoenix Fund	81,227
Active 8	3,000
CAST (Cornubian Arts & Science Trust)	2,900
Constantine Cricket Club	4,000
Constantine Enterprise Company	2,500
Cornwall Garden Society	4,030
Cornwall Historic Churches Trust	7,000
Cornwall Life Recycle	3,600
Cornwall's Regimental Museum (2 grants)	5,000
Exploding Words Festival	10,000
Hidden Help	5,200
IMS Prussia Cove (Amscordi Ltd)	5,000
Merlin Neuro Therapy Centre	4,500
Museum of Cornish Life	2,000
Royal Institution ofCornwall	3,500
St Day Old Church CIC	5,000
The Royal Horticultural Society	4,902
Trebah Garden	6,095
Trevow Helson CIC	3,000
Trenouth Solar Fund	40,550
St Merryn Youth Group	3,500
The Oasis Centre	20,000
The St Eval Community Land Project	2,000
Trevisker Community Meadow CIC	15,050
Trewithen Fund	9,500
A Band of Brothers Cornwall	9,500
Tuppeny Fund	16,860
Active Plus CIC	3,000
BethelMethodistChurch	3,360

Page 56

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Friends of Cornwall Youth Choirs (FoCYC)	2,500
Roche Brass	3,000
The Farming Mother CIC	5,000
VCSE Health Improvement Fund	645,000
4 Motion CIC	10,000
Active 8	5,000
Artconnexion UK CIC	5,000
Arts Well	25,000
Awenek Studio CIC	9,000
Babygro	10,000
BF Adventure	9,000
Bodmin Way	10,000
Bosavern Community Enterprises Ltd	8,300
Cascade Educational Theatre Company	9,000
CASSPLUS Cornwall	10,000
Choose Nature CIC	10,000
Citizens Advice Cornwall	20,000
City Life Church Truro	9,000
ClayTAWC Ltd	5,000
Community Roots Cornwall	11,000
Cornwall Blind Association t/a iSight Cornwall	5,000
Cornwall Breathers	5,000
Cornwall Life Recycle	5,000
Cornwall Mind	10,000
Cornwall Neighbourhoods forChange	25,000
Cornwall Pride	19,000
Cornwall Refuge Trust	10,000
Creative Curiosities SW	9,000
Deviock Activities Group	5,000
Disability Cornwall	10,000
Falmouth Food Co-op CIC	24,000
FOWLC Community Interest Company	12,000
Godolphin Cross Community Association	1,000
Goonown Growers CIC	12,000
Green Wave Cornwall CIC	4,200
Gwealan Tops	9,200
Home Start Kernow	10,000
Ignite You CIC	10,000
Imagine If Partnership Ltd	10,000
Kinsman and Treningle Tenants and Residents Association	9,000
Lanivet Parish Sport and Recreational Trust	6,000
Lanner Village Hall	12,900
Make It Better (Mitber) CIC	5,000
Memory Matters CIC	9,900
Merlin Centre	9,000
Music for Good	10,000
National Literacy Trust	5,000
Nourish Kernow CIC	5,000
Pendennis Leisure ClO	17,000
Penhaligon's Friends	7,700
PhillackPCC	5,000
Plymouth Argyle Football in Community Trust	10,000
Reach Out Creative Futures	5,400
Real Ideas Organisation	9,000
Regenerative Food and Farming (Cornwall Gleaning Network)	10,000
RJ Working	10,000
Ro Dama Farm CIC	9,000
StrideCornwall	10,000

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Sundance	6,000
The Core	6,000
The Dracaena Centre	10,000
The Drop in and Share Centre (DISC) Newquay	10,000
The Edward Hain Centre Ltd	7,500
The Hugs Foundation	14,000
The Old Bank, Camelford	7,000
The Pearl Exchange	10,000
True Butterflies Foundation	10,000
Urban Biodiversity CIC	10,000
Wave House Church (formally NCC)	5,000
Whole Again Communities CIC	12,000
Wilder Me CIC	6,900
YourVoice Cornwall	5,000
Viscountess Boyd Charitable Trust	20,503
Christ Church Oxford	2,000
Cornwall Garden Society	1,000
Pighall & Clarrick Woods CIC (2 grants)	8,665
Sue Hooper Charitable Foundation	1,000
The Garden Museum	500
The Store Community	2,848
Victoria and Albert Museum	2,000
Wormbridge and St Devereux Parochial Church	2,500
Welcome Fund	7,457
Carefree Fostering Independence Cornwall	1,144
Movyans Skolyo Meythrin	1,450
Newquay Refugee Support Group	2,000
The Cornwall Bicycle Project CIC	5,000
Returned Grants	(2,137)
Worval Foundation	86,891
2 grants to individuals	1,050
ARC Health Care South-West	7,536
Beach Guardian CIC	6,000
Cornwall Heritage Trust	3,900
Equine-Connect Kesoberi CIC	12,000 6,000
Nikki White Therapy	4,500
Pentreath Ltd	360
Support For Learning Cornwall CIC	4,500
The Hugs Foundation	6,000
The Sparkle Foundation UK	6,000
The Wave Project	6,000
The Women's Centre Cornwall	6,000
Trevisker Community Meadow CIC	6,000
True Butterflies Foundation	6,000
Whole Again Communities CIC	5,940
Returned Grants	(895)
Young & Talented Cornwall	74,635
58 grants to individuals	74,635
Young Carers Fund	4,000
Barnardos	2,000
Disability Cornwall	2,000
YoungMindsFirstFund	4,750

Page 58

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Oriel Ministries	3,000
Penhaligon’s Friends	1,750
#iwill campaign	(1,817)
ReturnedGrants	(1,817)

Page 59

2024-12-31-accounts

CONTENTS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

PURPOSE AND ACTIVITIES

Charitable purposes

These are:

Public benefit, aims and objectives

STRATEGIC REPORT

Review of achievements and plans for the future (incorporating Chair's Report)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Reserves policy

Recruitment and induction of Trustees

Pay policy for senior staff

Related parties

Risk assessment

Financial review

Investment powers and policy

Investments review

Grant making policy

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION

OPINION

In our opinion the financial statements:

BASIS FOR OPINION

CONCLUSIONS RELATING TO GOING CONCERN

OTHER INFORMATION

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

RESPONSIBILITIES OF TRUSTEES

AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORNWALL COMMUNITY FOUNDATION (CONTINUED)

USE OF OUR REPORT

2. ACCOUNTING POLICIES (continued)

2.4 EXPENDITURE

2.6 GIFT AID

2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION

2. ACCOUNTING POLICIES (continued)

2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION (CONTINUED)

Depreciation is provided on the following basis:

2.8 INVESTMENTS

2.9 DEBTORS

2.10 CASH AT BANK AND IN HAND

2.11 LIABILITIES AND PROVISIONS

2.12 FINANCIAL INSTRUMENTS

2. ACCOUNTING POLICIES (continued)

2.13 OPERATING LEASES

2.14 PENSIONS

2.15 FUND ACCOUNTING

4. INCOME FROM TRADING ACTIVITIES

5. INVESTMENT INCOME

6. EXPENDITURE ON RAISING FUNDS

COSTS OF RAISING VOLUNTARY INCOME

7. ANALYSIS OF GRANTS

8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

11. STAFF COSTS

12. TRUSTEES’ REMUNERATION AND EXPENSES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. TANGIBLE FIXED ASSETS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. FIXED ASSET INVESTMENTS

15. DEBTORS

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ————

17. STATEMENT OF FUNDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

CORNWALL COMMUNITY FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024