Charity Number269183
THE DUKE OF CORNWALL'S
CHAIUTABLE FOUNDATION
Trustees, report and Y4ceounts
30 June 2024

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY,
THE TRUSTEES AND ADVISORS
CHARITY
REGISTRATION NUMBER..
269183
REGISTERED ADDRESS..
10 Buckingham Gate
London
SWIE 6LA
TRUSTEES:
Edward Harley CBE
Alastair Maitin CVO
James Williams CVO DL
Gillian Pipkin
William Bax (appointed 4 November 2024)
Robert Curnow (appointed 4 November 2024)
SECRETARY:
Tei'ry Cotter
l O Buckingham Gat¢
London
SWIE 6LA
BANKERS..
Coiitts & Co.
440 Strand
London
WC2R OQS
tNVESTMENT NqANAGER'.
Newlon Inv¢stm¢nt Management Limited
BNY Mellon Centre
160 Queen Victoria Street
London
EC4V 4LA
AUDITORS:
SRG (AUDIT) LLP
10 Bolt Couit
London
EC4A 3DA
SOLIcrroRS:
Farrer & Co.
66 1,incoln's Inn Fields
London
WC2A 3LH

THE DUKE OF CORNWALL'S CHAIUTABLE FOUNDATION
REPORT OF THE TRUSTEES FOR THII YEAR ENDED 30 JUNE 2024
Change of llame
On 5 September 2024, the tn15tees approved a written resolution to change the name of The
Duke of Cornwall's Benevolent Fund to Thc Duk¢ of Cornwall's Charitable Foundation.
structure, Objectives and Aetivities for the publi¢ benefit
Th¢ Duke of Cornwall's Charitable Foundation was established (as the Duke of Cornwall's
Benevolent Fund) under a trust deed dated 21 February 1975 for charitabl¢ puryos¢s and, in
particular but not limited to, the following specific objectives:
(a)
The relief of persons in need of relief by reason of poverty, sickness or other adversity
(including the victims of ShIp￿TeCk)
(b)
The provision of almshouses, homes of rest, hospitals and convalescent homes
(c)
The advancement of education and learning including charitable institutions whose
object is the diffusion of knowledge
(d)
The advancement of the arts
(e)
The advancement of religion
(fj
The preservation for the benefit of the public of lands and buildings of beauty or hi8toric
interest and a8 regards lands of ecological or scientific importance and the provisivn, prulection
and prvs¢Tvation generally of amenities (including recreational amenities) calculated to
maintain or produ¢¢ an ¢nvironm¢nt b¢n¢fi¢ial to the public.
The Fund receives donations from ttme to time from His Royal Highness The Duke of Cornwall
which are related Éo amounts r¢ceivable by the Duke as Bona Vacantia (the casual Profits of
estates of de¢eased intestates dying domiciled in Cornwall without kin or the remaining assets
ot dissolved companies registered in Cornwall), after allowing for costs and ex gratia payments
made by the Duke in relation to claims on any estat¢. The donations are invested to produce an
income from which gyants are made in acCO￿ance with the objectives.
There have been no material changes in policy since the last trustees, report.
The trustees have complied with the duty in Section 17 of the Charities Aci 2011 in respect of
having due regard to guidance published by the Charity Commission, including public b¢nefit
guidance.

THL DUKE OF CORNWALL'S CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES FOR TIIF. YEAR ENDED 30 JUNE 2024
(cuntillued)
Trustees
The trustees meet regularly and are the Receiver General and 8eeretary of the Duchy of
Cornwall Estat¢, ex officio and external trustees. The trust deed also has provision for the
appointment of other persons as trustees when appropriate.
Alastair Martin ceased to be Secretary of the Duchy on 31 October 2024 and William Bax was
appointed to that role on 4 November 2024. Alaslair m￿tin and Rob¢rt Curnow were appointed
as additional external trustees frorn that date.
Aehievemenls and Performance
The Duke of Cornwall's Charitable Foundation is pi'incipally a grant giving charity and most
activity is related to supwrt for charitable organssations.
All grants met the Duke of Cornwall's Charitable Foundation's objectives as illustrated earlier
in this teport.
Financial revi¢w
During the year, the Fund receiv¢d inv¢stmenl inwme of £188,692 (2023 £142,925) and made
44 grants amounting to £239,684 (2023 48 grants totslling £158,750), leaving a deficit of
£87,640 (2023 deticit £21,106) after administration expenses in the general fund. The Fund
received donations of £158,000 (2023 £50,014) giving total incoming resources of £346,692
{2023 £192,939). The designdted fund inureased froni £6,412,250 to £6,851,341, after allowing
for a £88,000 transfer to the general thnd for disti'ibulion. Total funds at 30 June 2024
amounted to £6,852,072 (2023 £6,412,621).
Grants Poliey
The Fund makes grants in a¢cordanc¢ with its charitable objectives as set out on page 2.
Applications for grants are generally only accepted from registered charities, primarily based in
Cornwall, and considered at regular trustee meetings. Offers are deterLnined by trustees at these
meetings.
Applications for grants should be made in writing to the secretary at 10 Buckingham Gate,
London SWIE 6LA.

THF. DUKF, OF CORNW ALL'S CHARITABLE FOUNDATION
REPORT OF THE TRUSTLI ES FOR TIIE YEAR ENDED 30 JUNE 2024
(eonlinued)
Risk Management Policy
The trust¢¢s of th¢ Fund have put into place systems which will mitigate any risks that can be
idenlified. The Fund's investments are monitored on a regular basis and are held by their
inveslment manager. The Fund has no direct employees and is therefoit not responsible for the
dii'ect costs of any staff. The Fund's non-inv¢stment income is handed over directly by the
DuGhy of Cornwall Estate and the ￿￿SleeS are aware of the adequacy of reserves and cash flow,
in line with besi practice.
Prior to any donation irquest, all Claimants are checked thoroughly and only wrttten
applications are consider¢d, normally only from charitable institutions. Grants are generally
made to organisations which are known to the trustees who will. in turn, make the appropriate
investigations, if required. The trnstees also keep outgoings at a manageable level.
Investment Policy
There are no restriction8 on the Fund's power to invest. The investment strategy is set by the
'ustees and takes ilLcount ofyecent demand for funds and ethical considerations. The trustees
consider the income requirements, the r£sk profile and th¢ inv¢stm¢nt manager's view of the
market prospects in the medium tenn. The investment portfolio decreased in value from
£5,273,808 at 30 June 2023 to £3,642,899 at 30 June 2024 following an investment sale.
The Fund is enlirely invested in the Newton Ethically Screened Fund for Charities, a global and
divei'sified portfolio of equities and fixed interest securities with particular emphasis on
environmental, social and governance considerations, screened against ncgativ¢ socially
responsible investment criteria.
Reserves Policy
The Fund maintains unrestricted funds, which are the free reserves of the Fund. As explained
on page 3, the designated Teserve, which totals over £6.8million, is being held as a long-lem]
investment, in order to gene17te future incoming resources to support the Fund's ¢haTltabl¢
objectives.
It is the policy of the Fund to pay out, by means of grants, substantially all of the total incoming
resources for the year on the general fund, after relevanl expenses have been met, although the
trustees are necessarily constrained by the availability of sufficient suitable grant applications. It
is the trustees, intention to maintain a small balance to covei. unforeseen expenditure.
Notwithstanding the general desire to protect the capital within the designated fund, the trustees
may decide from time to time to pay over receipts of Bona Vacantia to the general fund to allow
additional grants to IK mad¢.

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION REI PORT OF THE
TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
(eoiitinu¢d)
Plans for Future Periods
In the coming year, the Fund will continue to provide charitable support in accordance with its
obj¢ctiv¢s.
Trustees, Responsibilities Statement
The trustees are responsible for preparing the Annual Report and the fEnancial statements in
accordance wilh applicable law and regulations.
Law applicable to ¢harities in England and Wales requires the trustees to prepare financial
statements for each financial yeai.. Under that law the trustees have elected to prepare the
financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (Uniled Kingdom Accounting Standards and applicable law). The financial staternents
are required by law lo giv¢ a true and fair view of the state of affairs of the charity's activities
during the year and of its financial position at the end of the year.
In preparing those financial statements, th¢ trust¢¢s are r¢quir¢d to..
select suitable accounting policies and then apply them consistelltly.
observe the methods and principles of the Charities SORP.
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements.
prepare the financial statements on the going ¢on¢¢rn basis unl¢ss it is inappropriat¢ to
presume that the charity will continue its activities, in which c&8e there should be
SUPFrfTrrting assumpiions or qualifications as necessary.
The trustees confimi that they have complied with the above requirements in preparing the
financial statements.
The trustees are responsible for kecping propcr accounting rccords that disclose with reasonable
accuracy at any time the financial position of the fund and enable ihem to ensu￿ that the
rinancial statements comply with the Charities Act 2011, the Charity (Accounls and Reports)
Regulations 2008 and the trust deed. They are also responsible for safeguarding th¢ ass¢ts of th¢
charity and hence for taking reasonable steps for the prevention and detection of fraud and other
ILTegUl(￿1ties.
Approved by the trustees on 4 March 2025
Alastair Martin CVO
Edward Harley CBE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DUKE OF
CORNWALL'S CHARITABLE FOUNDATION FOR THE YEAR ENDED
30 JUNE 2024
Opinion
We have audited the financial statements of The Duke of Comwall's Charitable Foundation
('the charity,) for the year ended 30 June 2024 which comprise the statement of financial
activities, the balance sheet and the notes to th¢ financial statements, including significant
accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including FRS 102
The Financial Reporling,giandard applicable in ihe UK andRepublic oflreland (United
Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
'give a true and fair view of the state of the charity's affairs as at 30 June 2024 and of its
incoming resources and application of resources 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 Charilies Aci 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 5tandaTds are further described in the
Auditor's responsibililiesfor ihe audit of thefinancial statements section of our report. We are
independent of the charity in accordance with the ethical requirements that are relevant to our
audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we hav¢ obiained is sufficient and appropriate to provide a basi5 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 chaTity'5 ability to continue as a going concern for a peiiod of at least 12 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 ihe relevant sections of this report.

INDII PENDENT AbDITOR'S REPORT TO THF TRUSTEES OF THE DUKE OF
CORNWALL'S CHARITABLE FOUNDATION FOR TIIE YEAR ENDED
30 JUNE 2024 (Continued)
Other information
The other information comprises the information included in the annual repoit, including the
t￿steeS, report, other than the financial slatsments and our auditor's report thereon. The truslees
are responsible foi. the other information contained within the annual report. Our opinion on the
financial statements doe5 not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do nol ¢xpress any form of assurance conclusion thereon.
Our responsibility is to itad the other infonnation and. in doing so, consider whether the other
infommtion is materially inconsistent with the financial statemenls or our knowledge obtained
in ihe coui'se of the audit, or othenvise appears lo be materially misslated. If we identify such
material inconsistencies or apparent material misstatements. we are required to delern]ine
whether this gives rise to a material misstatement in the financial statements themselves. If,
based on the work we have perfomied, we conclude that there is a material misstatement of this
other inforn]ation, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exeeplion
In th¢ light of the knowledge and understanding of the charity and tts environment obtained in
the course of the audit, we have not identified material misslatcm¢nts in the trustees, report.
We have nothing to report in iEspect of the following matters in relation to which the Charities
(Accounts and Reports) Regulations 2008 require 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 slatements. or
•sufficient accounting records have not been kept. or
.the financial statements are not in agreement with the accounting records. or
•we have not received all the information and explanations we require for our audit.
Responsibilities of Irust¢es
As explained mor¢ ￿llY in the trustees, Tesponsibilities statement set out on page 5, the trustees
are responsible for the preparation of ihe 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
¢nabl¢ the preparation of financial statements that are free from material misstatement, whether
due to fraud or error.

INDI4 PEM)ENT ALDITOR'S REPORT TO THE TRUSTII S OF THE DUKE OF
CORIYWALL'S CHARITABLE FOIJNDA TION FOR THE YEAR ENDED 30 JUNE
2024 (continued)
In preparing the financial statemenls, the trustees are responsible for assessing the charity's
ability to continue as a going conceiTL, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to
liquidat¢ th¢ charity or lo ¢¢as¢ operations. or hav¢ no realistic alteinative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section J44 and report of th¢ Charities Act 2011 in
accordance with the Act and relevant regulations nmde 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
auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guaTantee that an audit conducted in accordance with ISAS (UK) will always detect a
material misstatement when it exists.
Misstaternents can arise from fraud or error and are considered material if, individually or in the
aggr¢gat¢. thcy could rcasonably bc ¢xpcct¢d to influence the economic decisions of users taken
on the basis of thes¢ financial stat¢menls.
Irregularities, including fraud, are instances of non-compliance with laws and r¢gulations. W¢
design procedui'es in line with our responsibilities, outlined above, to detect material
misstalcmcnts in rcspcct of irr¢gularitics, including fi'aud. Thc extent to which ow procedures
are capable of detecting inEgularities, including fraud is detailed below:
Ow approach to identifying and &ss¢ssing the risks of mat¢rial misststemenl in r¢sp¢cl of
irregularities, including fraud and non-compliance wkth laws and regulations, was as follows:
the engagement paitner ensured that the engagement team collectively had the
appropriate competence, capabilities and skills to identify or recognise non-compliance
wilh applicable laws and regulation5'
we idcntificd the laws and r¢gulations appli¢abl¢ to th¢ charity ihrough discussions with
trustees and other management.
we focused on Specific laws and regulations which we considered may have a direct
material effect on the fmancial statements or the operations of the charity, including
Charities Act 2011.
we assessed the extent of ¢otnpliance with the laws and regulations identified above
through making enquiries of n]anagement and inspecting legal correspondence;
identified laws and regulations were communicated within the audit team regularly and
the team remained alert to instances of non-compliance throughout the audit. and
reviewing minutes of those charged with governance.

INDE4 PEI NDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DUKE OF
CORNWALL'S CHAIUTABLE FOUNDATION FOR THE YEAR ENDED 30 JUNE
2024 (continued)
We assessed the susceptibility of th¢ charity's financial statements to material misstatement,
including obtaining an understanding of how fraud might occur, by..
making enquirie5 of management as to where they considered there was susceptibility to
fraud, their knowledge of actual, suspected and alleged fi'aud;
considering the infrrnal Controls in place to mitigate risks of fraud and non-compliance
with laws and regulations. and
To address the risk of fraud through management bias and override of controls, we..
perforn]ed analytical procedures to identify any unusual or unexpected relationships.
tested journal entries to identify unusual transactions;
ass¢ss¢d whether judg¢ments and assumptions made in determining the accounting
estimates were indicative of potential bias.
investigated the rationale behind significant or unusual transactions.
A further description of our responsibilities for the audit of the financial statements is located on
the Financial Reporting Council's w¢bsiÈ¢ at.. www.frc.org.ukjauditorsresponsibilities.
This description forms part of our auditor's report.
SRG (AUDIT) LLP 15 eligible for appointlnent as auditor of the Charity by virtue of its
eligibility for appointment as auditor of a company under section 1212 of the Companies Act
2006.
Use of our report
This report is made solely to the charity's trust¢¢s. 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 trustees those matters w¢ are required to state to them in an auditor's
report and for no other putyose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the charity's trustees as a body, for our audit work,
for this report, or for the opinions we have forn]ed.
SRG (AUDIT) LLP
Chartered Accountants
Statutory Auditor
10 Bolt Court
London EC4A 3DA
//" AJ£)-

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR NDED 30 JUNE 2024
Note General
Fund
Designated
Fund
Total
2024
Total
2023
Ineoming resources
Incoming resources from
generated funds:
Investment incorne
Donations
188,692
188,692
158,000
142,925
50,014
158,000
Total incoming resources
188,692
158,000
346,692
192,939
Resources expended
Costs of generating funds:
Direct charitable activities..
Grants
Governance costs
Legal fees
Trustee expenses
reimbursed
239,684
6,620
29,578
450
239,684
6,620
29,578
450
158,750
5,040
241
Total resources expended
276,332
276 332
164031
Net (outgoing)lincoming
resources for the year before
(gain on investments
(87,640)
158,000
70,360
28,908
Realised gain on investment sale
Unrealised gain on investments
Net movement in funds
91,337
277,754
527,091
91,337
277,754
439,451
172,345
201,253
87,640
Fund balances bTought forward
371 6,412,250
6,412,621
6,211,368
Transfer
88,000 (88,000)
Fund balances carried forward
731 6,851,341
6,852,072
6,412,621
The notes on pages 12 to 17 forn] part of these accounts.
All of the Fund's activities are derived from continuing operations. The Fund has no
recognised gains or losses other than those shown above.
10

THE DUKE OF CORNWALL'S CHAIUTABLE FOUNDATION
BALANCE SHEET AS AT 30 JUNE 2024
30 June 2024
30 June 2023
Not¢
FAx¢d assets
Investments
3,642,899
5,273,808
Current assels
Debtors
Cash at bank
39,085
3,367,350
3,406,435
(171,262)
43,772
1,180,241
1,224,013
(85,200)
Creditors: amounts falling due
within one year
Net current assets
3.235,173
1,138,813
Total assets less eurrent
liabilities
6,878,072
6,412,621
Non-eurrent liabilities
Creditors: amounts falling du¢
within one year
(26,000)
Net Assets
6,852,072
6,412,621
Funds
General
Designated
Total Funds
731
6,851,341
6,852,072
371
6,412,250
6,412,621
Approved by the trustees on 4 March 2025
Alastair Martin CVO
Edward Harl¢y CBE
The notes on pages 12 to 17 forn] part of these accounts.

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS- 30 JUNE 2024
l. Accounting polieies
Basis ofprepdralion ond assessment ofgoing concern
The financial statements have been prepai'ed in accoidance with the Statement of
Recommended Practice.. Accounting and Reporting by Charities preparing their
accounts in acoordan¢¢ with the Financial Reporting Siandard applicable in the UK and
Republic of Ireland (FRS 102) effective l January 2019 and the Financial Reporting
Standard applicable in the Uniled Kingdom and Republic of Ireland (FRS 102) and the
Charities Act 2011.Th¢ Fund constitutes a public benefit ¢ntity as defined by FRS 102.
The financial statem¢nts have been prepared under the historical cost convention with
items recognised at cost or transaction value unless othenvise stated in the relevant notes
to these accounts, The financial statements are prepared in Sterling whteh is the
functional currency of the charity and rounded to the nearest £.
The trustees consider that there are no material uncertainties about the Fund's ability to
conlinue as a going Concern.
Inlllngible inc0￿e
Support provided by third parti¢s is brought into th¢s¢ accounts al its ¢stimat¢d value to
the fund, unless it is not Possible to ascertain the value. To the extent that it is possible
to obiain a valu¢, Ihis is included both as incom¢ and expenditure.
Income
Income from investment5 is accounted for on an accruals basis stated inclusive of
recoverable taxation. Other income is accounted for on a receipts basis.
Investmenls
Inveslmellts &re stated at the middle market price at the balance sheet date. Both
unrealised and realised gains and losses, reflecting the changes in the market value of
the investments, and profjts or losses on sale, are included in the Statement of Financial
Activities.
Cdsh al bank
Cash at bank is held to meet short-temi cash commitments as they fall due rather than
for inveslment purposes.
Casliflow
The Fund has laken advantage of the exemption as a small charity not to present a cash
flow statement.
Funds
The trustees have determined that investment gains and losses both realised and
Un￿alISed, associated inanagement charges, net Bona Vacantia receipts and bank
balances held for capital purposes are recorded in th¢ d¢signated fund. All other income
and expenditure is recorded in the general fund. Both the designated and general funds
are unrestricted,
12

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (Continued)- 30 JUNE 2024
Aecounting poliefies {contlnued)
Granls and other expenditure
Grants payable are included in the Statement of Financial Activities in the period in
which the conditions attached to the award are met or outside the control of the Fund.
Grants which have been recognised but not paid are account¢d for as creditors in th¢
balance sheet. Other expenditure is accounted for on an accruals basis and recorded
including irrecoverabl¢ VAT.
Supporl costs
The day to day administration of the Fund is carried out by staff of the Duchy of
Cornwall Estate and provided free of charge. The trustees recognise this significant
contribution but consider th¢ monetary value of these servi¢es for administrative support
to be immat¢rial.
Investment incom¢
2024
2023
UK inveslment income
Bank inlerest
113,740
131,116
Donations from His Royal Highness The Duk¢ of Cornwall
Donations from His Royal Highness The Duke of Cornwall represent amounts received
by E4is ROY￿ Highness as Bona Vacantia (the casual profits of deceased intestates dying
dotni¢iled in Cornwall without next of kin), after allowing for costs and ex gratia
payments by His Royal Highness in iElation to claims on any eslate.

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (Continued) - 30 JUNE 2024
Grant8
During the year, the following organisations or individuals became ¢ntitl¢d to r¢c¢ive
total donations of £1,000 or more-
Pentreath Ltd
Chaos Cornwall CIC
Comwall Historic Churches Trust
The Island Haven
Cornwall Community Foundation (Cornwall Crisis Fund)
Cornwall Community Foundation (Young Carers Fund)
Highertown PCC
Abandotbrothers
Lostwithiel Community Association
Childrens, Sailing Trust
Hearing Loss Cornwall
The Rev'd Elizabeth Burke
78,000
50,000
30,000
20,000
20,000
10,000
5,000
5,000
3,684
2,000
2,000
1,000
Other donations to individuals and organisations of less than £1,000 each total £13,000
{2023 £15,250),
During the year, there was one grant to an individual (2023 one grant).
Covernance ¢osts
2024
2023
Audit fees - ¢urrent year
There were no governance co8ts charged to the designated fund. The Fund has no
ernployevs (2023 nil) and the trusleey do not tEceive any remuneiation. Reimbursement
of £450 travel expenses was madc to trustc¢s James Williams and Gill Pipkin during the
year (2023 £241). As noted in the accounting policies (Note l) the trustees consider the
value of services provided by the Duchy of Coinwall Eslate for administrative support to
be immaterial.
14

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS {Continued)- 30 JUNE 2024
Fixed asset investments
Movement in fixed asset investrnents..
2024
2023
Market value l July
Less disposal
Add.. net gaRn on revaluation
5,273,808
(1,908,663)
277,754
5,101,463
172,345
Market value as at 30 June
3 642 899
5 273 808
Investments at market value comprised..
2024
2023
Newton Ethically Screened Fund for Charities
3,642,899
5,273,808
Maiket value as at 30 June
3,642,899
5,273.808
Debtors
2024
2023
UK investment income
Bank interest
27,930
11,155
39,794
3,978
43,772
15

THE DUKE OF CORNWALL'S CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (Continued) - 30 JUNE 2024
Creditors
2024
2023
Creditors falling due within one year
Grants
Other creditors
135,684
35,578
80,000
5,200
Total creditors falling due within one year
171,262
85,200
2024
2023
Creditors falltng due after more than one year
Grants
26,000
Total creditors falling due after more than one
year
26,000
Analysis of net assets by fund
30 June 2023
General
D¢signated
Inv¢stm¢nls
Current assets
Cu￿ent liabilities
5,273,808
1,138,442
85,571
(85,200)
371
6412,250
30 JurA¢ 2024
General
Designated
Investments
Current assets
Current liabilities
Non-current liabilities
3,642,899
3,208,442
197,993
(171,262)
(26,000)
731
6,851,341
16

THE DUKE OF CORNWALL'S CHAIUTABLE FOUNDATION
NOTII S TO THE ACCOUNTS (Continued)- 30 JUNE 2024
10.
Related party transactions
Two of the trustees of the Duke of Coi'nwall's Charitable Foundation are also members of the
Prince's Council of th¢ Duchy of Cornwall Estate. which administers th¢ transfer of net Bona
Vacantia receipls to the Fund as detailed in Nol¢ 3. There were no balances outstanding
between the parties at the year end (2023 £nil).
Subsequent events
In OGtobeT 2023, the trustee8 agreed to provide up to £3milliort from the designated fund for the
purpose of building and eslablishing a unit for th¢ homeless at Nansledan on the edge of
Newquay. A design and build Contract is in the process of being drawn up. with construction
expecfrd to start in May 2025. The gi'ant would b¢ drawn down in instalments as construction
progresses.
17