CORNWALL HISTORIC CHURCHES TRUST
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
Charity No: 218340

CORNWALL HISTORIC CHURCHES TRUST
CONTENTS
Page
Reference and adminislrative information
Report of the trustees
Independent examiner's report
Statement of financial activities
10- 11
Balance sheet
12
Notes to the accounts
13-15

CORNWALL HISTORIC CHURCHES TRUST
President
The Lord Lieutenant of Cornwall, Colonel Sir Edward Bolitho KCVO OBE CStJ
Vice President
The Bishop of Truro
Honorary Life President
The Right Hon Viscount Falmouth
Trustees, Executive Committee Members and Officers
Trustees
M rs Cecil ia Bisson
Mrs Susie Gore
Mr Charles Hall
Dr Joanna Mattingly
Mr David Purser
Mrs Caroline Tetley
Chairman
Trustee
Trustee (until 19/09/2024)
Trustee (until 16/05/2024)
Trustee (from 16/05/2024)
Trustee
Executive Committee Members and Officers
Mr Mark Chanter
Treasurer
Mrs Chrissie Hogg
Secretary (& Membership Sec from 19/09/2024)
Mrs Libby Reed
Membership Secretary (until 19/09/2024
Mr Jeremy Sharp
Grants Secretary
Revd Ray Borrett
Methodist Representative
Mrs Willa Bailey
Lady Bolitho
Mr Simon Coy OBE
Mrs Christine Edwards MBE DL
The Hon Christopher Harvey Clark QC
Mr Charles Hulbert-Powell
Rt Revd Graham James
Mrs Jill Jobson
Mr Andrew Langdon
Mrs Kirstie Newton
Mr David Purser
Mrs Emma Williams
Mr Trelawny Williams
Mrs Katherine Willis
(until 1910912024)
(from 19/09/24)
Charity Registration No
Secretary
Pri ncipal Address
Website/email address
Independent Examiners
Bankers
218340
Mrs Chrissie Hogg
Orchard House, Higher Pentire, Degibna, Helston, TR12 7PR
www.chct.info; secretary@chct.info
Francis Clark LLP, Lowin House, Tregolls Road, Truro TRI 2NA
Barclays Bank plc, 14 King St, Truro TRI 2RB

CORNWALL HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report and the financial statements for the year ended 31 December 2024.
The financial statements have been prepared on the accruals basis and comply with the charity's trust
deed and applicable law.
Structure, Governance and Management
The Cornwall Historic Churches Trust is constituted under a trust deed dated 29 March 1955 and is a
registered charity no. 218340.
The Irustees who have served during the year are set oul on page 1. The power to appoint new trustees
is vested in The Lord Lieutenant for Cornwall and The Lord Bishop of Truro.
Relationship between Trustees and Committee
As permitled under the Trust Deed, the Trustees have delegated without reslriction their functions to an
Executive Committee. A nucleus of members of this Committee are also Trustees.. il is this group that,
on behalf of all Trustees, makes or changes investment decisions. The Trustees may at their discretion
remove any member of any committee or dissolve the committee. On behalf of the Trustees the
appointmenl ofcommittee members is dealt with by the Chairman (ofthe Trustees and ofthe Committee)
consulting and seeking the approval of the President and the Vice-President.
Objectives and Activities
Under the terms of the trust deed, the trustees are to apply the income and capital of the charity for all or
any of the following Charitable purposes, namely..
"the preservation, repair, maintenance, improvement, upkeep, beautification and reconstruction of
churches in Cornwall and of monuments, fittings, fixtures, stained glass, furniture, omaments and chattels
in such churches and of churchyard belonging to any such churches..
In planning the activities for the year the trustees kept in mind the Charity Commission's guidance on
public benefit at our trustee meetings.
Grant making policy
In exercising their execulive functions for deciding ihe use to be made of Ihe Trust Funds, the Committee
members have, over the years established certain basic principles wilhin which they operate. A small
amount oflhe Trust Fund would be used to generate further income however. the bulk ofthe expendilure
is to provide grants to church communities for the purposes set out in the objecls clause above. Faclors
taken inlo account when the amount of a grant is being detemiined include -
1. Age of the church or chapel.
2. Merit of the building architecturally or historically.
3. The church's own efforts in two respects - endeavour to help itself and participation in this Trust's
annual sponsored event.
4. Financial need.
5. The church's own financial resources.
6. Exceptional reasons.

CORNWALL HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES Iconlinuedl
FOR THE YEAR ENDED 31 DECEMBER 2024
Chairman's Report l Achievements and Perfomiance
Looking back over the year it is encouraging thal the number of successful grant applications increased
by 26 % over 2023. Thanks to the generosity of our benefactors, corporate sponsors (notably the Duke
of Cornwall's Benevolent Fund, Cornwall Herilage Trust, Tanner Phoenix Trust. and the joint sponsors
of our Christmas Party - Jonathan Cunliffe Estate Agent and Taylor Money Wealth Management) and
the support of our CHCT Friends. the total value of grants we were able to approve was up by just over
18°/o to £86.350. Church and individual Friend membership income has also increased by 35 % overall.
Less satisfactory was Ihe increasing number of applications we were unable lo support because either
the projects fall outside our remit, were requested retrospectively or the buildings were nol open for
worship land unlikely to reopen post refurbishment}. The only grants available for payment after Ihe work
has been completed are the £500 Maintenance grants which we initiated in 2022 and have continued on
Ihe basis that "a slitch in time saves nine" 11 is gratifying that Ihe National Churches Trusl and the C of
E are now also supporting general maintenance, and I was pleased lo meet with Faye Edwardes, the
Diocesan Buildings Support OffI￿r under the Buildings for Mission scheme soon after her appointment
in January which has helped raise our profile with more establishments.
Thanks to Revd Ray Borrett we had a presence atthe Spring Methodist Synod in Truro and in conjunction
with the Methodist's Grant Officer we have seen an uptick in applications from this community too.
After six years in the role of Grants Secretary, Jeremy Sharp, gave notice in March of his wish to retire
later in the year. l am delighted that Sue Mcclaughry answered the call for volunteers issued to Friends
in September and she officially took up the Grants Secretary role at the end of the January 2025 Grants
Meeting. Before leaving Jeremy streamlined the application process to give the Area Representatives
(formerly Deanery representatives) greater involvement with the applicants, thus reducing the Grants
Secretary's workload which has grown considerably with the increased number of applications. He also
provided training to Sue and all the Area Reps. I would like to thank Jeremy for all he has done and l am
delighted that he has agreed to remain on the Executive as a key member of the Investment sub-
committee and will continue to advise Sue if required.
Long serving Committee members Dr Joanna Mattingley Ilrustee} Simon Coy OBE (previously Secrelary
and Grants Secretary) and Charles Hall Itrusteel, stood down over the course of the year. The latter Iwo
deciding that 80th birthdays were a good excuse to retire- Chades after 40 years of Servi￿ lo CHCT. I
have only known them for a comparative blink of an eye but I wish to thank them for all they have done
to further the work of CHCT over Ihe years. l am particularly graleful that Joanna is continuing to be my
fount of wisdom on Ihe history of Cornish Churches in collaboralion with Christine Edwards. David Purser
agreed to take on a Irusteeship in May for which l am very grateful. Thank you too to all the Friends who
offered themselves as potential committee members in response to CHCT secretary Chrissie Hogg's
request to fill the committee vacancies, and to those who agreed to help without joining the main
committee.
Trelawny Williams represented us at the National Churches Trust Conference in London which gave
useful insights into the experiences of other Historic Churches Trusts across the country. Most are similar
lo us though I was surprised to learn that Norfolk HCT raises in the region of £250k annually from their
Ride & Stride Event. Norfolk like Cornwall boasts a high proportion of Grade 1 listed churches but we
clearly need to engage more parishes to take part in the Cornwall Churches Day concept. This was
introduced by my predecessor Caroline Tetley to take the place of Ride & Stride which, apart from the
valiant efforts of Maker with Rame parishioners, has fallen out offavour down here.

CORNWALL HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES Iconlinuedl
FOR THE YEAR ENDED 31 DECEMBER 2024
Kirstie Newton continues lo give CHCT a mention in the local media as often as possible., Libby Reed
ensures the catering at all our events is superb with the support of so many capable chefs either on our
committee or connected in some way as spouses or friends. Thank you one and all for making 2024 a
success from which to step boldly into our Platinum Anniversary Year.
Financial Review
This year's accounts have again been prepared on an accruals basis. In essen￿ all income and
expenditure represents the total of each on a yearly basis, rather than when the money is received or
expended. This has also meant that granls approved bul noi paid are included as creditors in the
accounts.
In the Statement of Financial Activities we account for grants approved rather than paid. with £86,350
{2023'. £73,108) being approved Ihis year (before grants withdrawn). Gains on investments of £296 are
also included, representing the increase in the quoted value of the shares during the year. Total income
re￿iVed has increased to £93,035 {2023= £76,840). This is largely attributed to an increase in donalions
and granls which totalled £59,244 compared to £47.854. Administration expenses remained broadly
consistent with the prior year al £4.08012023.' £3,577).
Our cash on deposit has increased to £129,03912023'. £99.039) and £7,47612023= £128,131) sils in the
current account. There is also a further £63,532 sitting in a bank savings account which is new in the
current year. Due to a higher level of grants approved but more inslalments paid in the year, grant
liabilities in the current account have decreased to £78,520 (2023.. £85,400).
Before the gain on investments and transfers between funds, the Statement of Financial Activities shows
a net inflow of funds of £6,618 (2023.. £12,245), together with the gain on investments of £296 to give a
net movement of £6,914.

CORNWALL HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES Iconlinuedl
FOR THE YEAR ENDED 31 DECEMBER 2024
Reserves policy
Following the guidance issued by the Charity Commission, the trustees have formally adopted with effect
from 1 January 2001, the following policy..
Unlike many charilies, the Cornwall Historic Churches Trusl has no large permanenl endowment.
It is necessary therefore for Ihe Trust to hold a capital reserve fund for Ihe following reasons..
{11 The income from the investment capital is now our major source of annual income typically
amounting to some 20% of the sum. Fundraising is becoming increasingly difficull and Ihe
investment income is now heavily relied upon as the source of our grants.
{21 The Trusl has been fortunale in the past to have had some substantial donalions which help the
grant-giving but this is in no way guaranteed and is unlikely to recur so regularly in the future.
{31 As well as inflation in building costs, the grants from sources such as English Herilage/Lottery for
church repairs are reducing and it will be ne￿SsarY to give larger grants from Ihis Trust to help
future church restoration and repair costs.
{41 The applications for grants fluctuate and do nol arise in an even paltern. Having investmenl
reserves means thal investment capital can, in certain circumslances, be called upon if there
happens to be an unusual run of applications justifying substantial grants.
(51 As applications fluctuate the availability of investment capital provides a cushion to maintain an
even and logical flow of grant-giving, even if the Trust's annual income is eX￿eded. To vary the
rate of grant-giving up or down substantially from year to year would introduce an unacceptable
degree of unfaimess between the beneficiaries.
Conclusion
The Trustees have therefore determined that of the CHCT'S capital
50°/o be designated a capital reserve., and
50 % be considered an expendable reserve where there is power for the Trustees to convert this
capital money into income.
Legacies policy
The policy adopied by the Iruslees in respect of legacies is as follows..
{11 A legacy of £5,000 or more be treated as capital and added to the Trust's reserves.
{21 Any legacy of less than £5,000 be considered by the Truslees wilh each case dealt with as the
Trustees think appropriate al that time.
(31 Any specific wish or intention expressed by the legator lo be faithfully honoured by the Trustees
even if there is an apparent conflict with the decisions set out in11) and12} above.

CORNWALL HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES Iconlinuedl
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees responsibilities in relation to the financial statements
Law applicable to charities in England and Wales requires the trustees lo prepare financial statements
for each financial year which give a true and fair view of the charity's financial activities during the year
and of its financial position at the end of the year.
In preparing those financial statements, the trustees are required to..
Select suitable accounting policies and then apply them consistently
Make judgements thal are reasonable and prudent
Slale whelher applicable accounting standards and slalements of recommended practice have been
followed subject to any departures disclosed and explained in the financial statements., and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The Iruslees are responsible for keeping accounting records which disclose with reasonable accuracy at
any time the financial position of the charily and enable them to ensure that the financial statements
comply with the Charities Act 2011. They are also responsible for safeguarding the assets of Ihe charity
and hence for taking reasonable sleps for the prevenlion and deteclion of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
Cecilia Bisson
Chairman
Date.. 20 March 2025

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
CORNWALL HISTORIC CHURCHES TRUST
FOR THE YEAR ENDED 31 DECEMBER 2024
I report to the trustees on my examination of the accounts of Cornwall Historic Churches Trust (the
Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the Trust you are responsible for the preparation of the accounts in accordance with
the requirements of the Charities Act 2011 {'the Act'l.
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011
Act and in carrying out my examination I have followed all the applicable Directions given by the
Charity Commission under section 145{5llb} of the Act.
Independent examiner's statement
I have compleled my examination. I can confirm that no malerial matters have come to my attention in
connection with the examination giving me cause to believe thal in any material respect..
1. Accounting records were not kept in respecl of the Trust as required by section 130 of the Acl.,
or
2. The accounts do not accord with those records. or
3. The accounts do not comply with the applicable requirements concerning the form and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair, view which is not a matter considered as part
of an independent examination
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts lo be reached.
Signed..
Darren Perry
Chartered Accounlant {ICAEWI
Francis Clark LLP
Lowin House
Tregolls Road
Truro
TR12NA
Date.. 27 March 2025

CORNWALL HISTORIC CHURCHES TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Restricted funds
Unrestricted funds
Designated Designated
Capital
Expendable
RÈsÈrve
RÈ$ÈrvÈ
Income
Fun
2024
Total
2023
Total
Income and endowment8 from..
Donations and18gaci8S
Friends of Cornish Churches sub8cription8
Fund r8ising events
Investment income
Miscellaneous income
59,244
7,410
7,259
19,115
59,244
7,410
7,259
19,115
47,854
5,492
7,736
15,758
Tolal incorne
93,035
93,035
76.840
Exp8ndlture on..
Cost of fund raising events
Grants approved less gr8nts withdrawn
Investment management fee
Administration
1,777
77,550
3,010
4,080
1,777
77,550
3,010
4,080
1,488
58,858
672
3.577
Tolal expenditijre
86,417
86,417
64.595
Net Income/(expendlturn)
6,618
6,616
12,245
Transfers belween funds
6.618
16,6181
Gainslllossesl on investment assets
148
148
296
6,648
Netmovement In lunds
148
6,786
6,914
18,893
Fund balances blfvvd at 0110112024
1,945
191.441
240,442
433,828
414,935
Fund balan¢es ¢lfwd at 3111212024
1,945
191.589
247.208
440,742
433.828
10

CORNWALL HISTORIC CHURCHES TRUST
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Restrlcted funds
Unrestricted funds
Designated Designated
Capital
Expendable
Reservè
Re58rv8
Income
Fund
2023
Total
Note
Income and endowments frorn:
Donations and legacies
Friends ol Cornish Churches subscriptions
Fund raising 8V8nts
Investment income
Miscellaneous income
47.854
5,492
7,736
15.758
47.854
5.492
7.736
15.758
Tolal income
76.840
76.840
Expenditure on:
Cost of fund raising events
Grants approved less grants withdrawn
Investrnent rnanag8m8nt f88
Administration
1.488
58,858
672
3.577
1,488
58,858
672
3,577
Tot818xpenditure
64.595
64.595
Net In¢ome/(expendltureJ
12,245
12,245
Transf8rs b81w8&n funds
12,245
112.2451
Gainslllossesl on investment assets
3.324
3,324
6,648
Net movement In funds
3.324
15,569
18,893
Fund balan¢es blfwd at 0110112023
1.945
188,117
224.873
414.935
Fund balances clfwd at 3111212023
1.945
191,441
240.442
433,828

CORNWALL HISTORIC CHURCHES TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Fixed Assets
Investments
312,860
285.445
Current Assets
Debtors
CBF Church of England deposit fund
Inv8Stm8nt manag8rfs capitsl account
Bank curr8nt account
Bank savings 3CGQUnt
8,830
129,039
16
7,476
63,532
208,893
8,842
99,039
129
128.131
236.141
Current Llabllltles
Accruals
Other Creditors
Grant creditors
2,491
2,358
78,820
81,011
85.400
87.758
Net Current Assets
127,882
148.383
Net A6set8
440,742
433,828
Unrestricted Fund5
Designated Capital Reserve
General fund
Restricted funds- Emergèncy funds
191,589
247,208
1,945
440,742
191.441
240.442
1,945
433.828
Approved by the Irusl&&s and sign&d on tt)eir behaw by..
C8cilia Bisson
Chaimian
Oate.. 20 March 2025
12

CORNWALL HISTORIC CHURCHES TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Principal aeeounting polici•s
lal Aeeounting convèntion
These accounts have been prepared in accordance with Accounting and Reporting by Charities Statemenl of
Recommended Practice ISORP 2019 FRS1021, the Financial Reporting Standard 102 and the Charities Act 2011.
Ibl Incomlng r&sourc8s
Donalions, legacies and other fomis of voluntary income are recognised as incoming resources when receivable.
Inveslrmenl inwme is reoognised on 8 receivable basis. Incorming resources for tsx reclaims are included in the
statement of financi81 activities 8t the satne tirne as the gift to which they relate.
Icl Resour¢e$ expended
Expenditure is included on an accruals basis.
Idl Investments
Investments are shown at open market value, with any unrealised gains or losses being recognised in the statement of
financial activities.
lel Gift Aid rècovèrablè
Gift Aid recoverable is accounted for on an accruals basis.
Donations and 1•gael•S
R•striet•d Unrestrietèd Incom•
Fund
Funds
Fund
Total
2023
Giants
Donations- ChLJrehes
Donations- Other
Legacies
42,000 42,000
4,767
4,767
12,477
12,477
30,000
5,540
4,814
7,500
47,854
59,244 59,244
Frlands of Comlsh Church8s
subscriptions
Ineoma
Fund
2023
Subscriptions
7,410
5,492
7,410
5,492
13

CORNWALL HISTORIC CHURCHES TRUST
NOTES TOTHEACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Fund-raising ov•nts
Income
Fund
2023
Summer Open Days
Christmas Drink5
731
6,528
700
7,036
7,259
7,736
Investment Income
Income
Fund
2023
CBF Irit8re5t
Bank interest
Portfolio dividends and interest
6,146
548
12,421
3,212
12,546
19,115
15,758
Cost of fund ralsln9 events
Income
Fund
2023
Christrna5 Drinks Party
Summer Open Days
1,717
60
1,488
1,T17
1,488
Independent examlners fee
During the year the Trust paid independent exarnination fees of £2,220. An accrual has been made for the 2024 independent
exarnination fee5 Of £2,398. During the year the trust also incurred £369 in respect of Xero subscription fees and other
matters.
Payments to trustees
No trustees, or any persons conn8Ct8d with th8rn, receiv8d any rernun8r8tion or oth8r banefits from the charity during the
year. Trustees are Only reimbursed for purchases made on behalf of the charity.
Investsnents
2024
2023
Market Value Blfwd
Additions
Disposals
Change in Market Value
Mark&t Value Clfwd
285,445
69.858
142,7391
296
312,860
272,370
55.515
149,0881
6,648
285,445
2024
2023
Cost of investnEnts
304,459
279.502
14

CORNWALL HISTORIC CHURCHES TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Restricted fvnds
Blfwd
Income
Expenditure
Cl￿d
Emergency Fund
1,945
1,945
1,945
1,945
The restricted funds are all held in cash deposits.
11
Contingent asset
The Trust has been notified of its entitlement to a legacy of £250,000. However the Trust
has no certainty over when this will be received, whether any conditions will be attached to it, or whether
the full amount will be paid. Therefore the income has not been recognised in the accounts.
15