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||Page|Page|
|---|---|---|
|Report of the Board of Trustees|1 —13||
|Independent auditors' report|14-|17|
|Statement of financial activities||18|
|Balance sheet|19 -|20|
|Notesto the financial statements|21-|29|





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||Net|income available|Grants|Grants||
|---|---|---|---|---|---|
|Year||for distribution|approved|withdrawn|Net grants|
|||£|£|£|£|
|1991||100,000|69,000|-|69,000|
|1992||199,161|177,880|-|177,880|
|1993||199,705|189,500|-|189,500|
|1994||186,248|178,000|-|178,000|
|1995||162,829|238,129|-|238,129|
|1996||181,452|156,095|-|156,095|
|1997||189,893|151,328|(5,000)|146,328|
|1998||219,545|154,783|(5,000)|149,783|
|1999||303,354|442,050||442,050|
|2000||305,629|1,669,942|(11)|1,669,931|
|2001||312,237|88,827|(815)|88,012|
|2002||291,397|416,332|(620)|415,712|
|2003||264,573|1,060,912|-|1,060,912|
|2004||259,917|71,003|(30,000)|41,003|
|2005||240,283|367,000|(14,273)|352,727|
|2006||244,842|260,295|(50,004)|210,291|
|2007||249,754|60,750|(10,882)|49,868|
|2008||278,893|1,016,789|(108,004)|908,785|
|2009||275,891|137,079|(2,683)|134,396|
|2010||192,906|155,030|(443)|154,587|
|2011||175,394|129,975|(7,495)|122,480|
|2012||159,141|169,048|(32,796)|136,252|
|2013||175,878|145,119||145,119|
|2014||169,900|283,137|(17,653)|265,484|
|2015||194,214|194,700|(305)|194,395|
|2016||177,686|163,771|(20,000)|143,771|
|2017||182,654|71,130|(20,371)|50,759|
|2018||192,719|118,100|(650)|117,450|
|2019||190,536|147,030||147,030|
|2020||179,379|159,866|(1,580)|158,286|
|2021||177,738|207,275|(1,301)|205,974|
|2022||179,486|152,687|-|152,687|
|2023||199,778|204,210|(3,216)|200,994|
|2024||217,100|549,772|(5)|549,767|
|2025||236,904|355,637|(40,502)|315,135|
|2026||210,650|317,945|(9,450)|308,495|
||||10,430,126|(383,059)|10,047,067|





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|he Board members serving during the year and si|nce the year end were as follows:||
|---|---|---|
||Dateof original|Dateof last|
||election|election|
|Dr B Vann (F) (G) (Resigned 19.12.25)|24.09.01|02.12.24|
|Mr M Williams(F) (G) (Secretary)|20.10.14|13.10.23|
|Dr JA Evers (G)|29.01.18|02.12.24|
|Dr TJ Anderson(G)|25.02.18|02.12.24|
|Ms K Hutchinson (G)|09.05.22|13.11.23|
|Ms GS Coley (G) (Resigned 10.11.25)|13.11.23|13.11.23|
|Miss OCF Miller (F) (G)|13.11.23|13.11.23|
|Prof AD Woolf (G)|13.11.23|13.11.23|
|Miss J Taylor(G)|13.11.23|13.11.23|
|Ms TJ Roose (G)|02.12.24|02.12.24|
|Mrs LMA Walsh (G)|02.12.24|02.12.24|
|Mr SW Burnett (F) (G)|02.12.24|02.12.24|
|Prof E Bland (Chair)|10.11.25|10.11.25|





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|(incorporatingincome and expend<br>For the yearended 31 March 2026|iture acco|unt)||HEAL<br>CHAR|
|---|---|---|---|---|
|||Unrestricted|2026|2025|
||Notes|funds|Total|Total|
|||£|£|£|
|Income:|||||
|Investments|3|277,765|277,765|281,198|
|Total income||277,765|277,765|281,198|
|Expenditureon:|||||
|Charitable activities|4|375,610|375,610|359,429|
|Total expenditure||375,610|375,610|359,429|
|Netexpenditureforthe year<br>before (losses)/gainson investments||(97,845)|(97,845)|(78,231)|
|(Losses)/gains on investments||(281,907)|(281,907)|246,550|
|Net (expenditure)/incomefortheyear|||||
|and net movementin funds||(379,752)|(379,752)|168,319|
|Reconciliation of funds|||||
|Total funds brought forward||5,787,476|5,787,476|5,619,157|
|Total funds carried forward||5,407,724|5,407,724|5,787,476|





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|||||||
|---|---|---|---|---|---|
|Balance sheet|||||THEDUCHY|
|As at 31 March 2026|||||HEALTH<br>CHARITY|
||||2026||2025|
||Notes|||£||
|Fixed assets||||||
|Investments|11||5,407,046||5,768,454|
|Current assets||||||
|Debtors|12|55,376||3,274||
|Cash at bank - deposit accounts||60,958||114,417||
|Cash at bank - current account||5,000||5,000||
|Total current assets||121,334||122,691||
|Creditors: amounts falling due within||||||
|one year|13|(105,656)||(103,669)||
|Net current assets|||15,678||19,022|
|Total assets less current liabilities|||5,422,724||5,787,476|
|Creditors: amounts falling due after|14||(15,000)|||
|more than one year||||||
|Netassets|15||5,407,724||5,787,476|
|Funds ofthe charity||||||
|Unrestricted funds|16||5,407,724||3,782,511|
|Unrestricted funds - revaluation reserve|16||||2,004,965|
|Total charity funds|||5,407,724||5,787,476|





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|Inve|stmentincome|||
|---|---|---|---|
|||2026|2025|
|||£|£|
|Bank|interest|6,213|6,069|
|Listed|investment income|271,552|275,129|
|||277,765|281,198|



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|Expenditureon charitable activities|||
|---|---|---|
||2026|2025|
||£||
|Grants payable(note 5)|308,495|315,135|
|Awards|2,000|1,000|
|Conference|19,271||
|DHC Plaques|1,025||
|Support costs (note 6)|44,819|43,294|
||375,610|359,429|





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|s<br>ing partofthe financial statements)<br>Grants payable||THE <br>HE<br>CH-|
|---|---|---|
||2026|2025|
||£|£|
|A Band of Brothers||15,000|
|Bournemouth Symphony Orchestra|9,669||
|The Chaos Group|61,024|39,072|
|Children's Sailing Trust|10,000||
|Cirque du Ciel||15,000|
|Citizen's Advice Cornwall|24,896||
|Citizenship for Life —Young Citizenship Champions|10,700||
|Compassionate Friends||2,500|
|Cornwall Hospice Care Ltd — Fit for the Future|24,550||
|Cornwall Neighbourhoodsfor Change — Help in the Waiting|28,978||
|Room|||
|Dentaid||20,000|
|Drama Express|5,000||
|Ellen MacArthur Trust||11,000|
|Forget Me Not Chorus|10,000||
|Friends of Wadebridge Sports & Leisure Centre||49,989|
|Georgia's Voice — Lifesaving Support for Young Women in|30,000||
|Cornwall|||
|Homestart Kernow|9,866||
|Humphry Davy School, Penzance (1)||71,591|
|Joss Searchlight|3,750||
|Look Good Feel Better|3,432||
|Maker with Rame Village Hall||5,000|
|Merlin Neuro Therapy Centre||10,000|
|National Literacy Trust||24,000|
|Ready for Good||5,000|
|Samaritans of Cornwallat Truro||21,817|
|Sense —Got Group Sense|5,000||
|Sensory Trust — Creative spaces<br>St Ives School of Painting|10,000<br>5,580||
|The Compassionate Friends|2,900||
|The Island Trust|2,100||
|The Pearl Exchange|10,000||
|The Richard Dimbleby Cancer Fund|5,500||
|The Sparkle Foundation||10,000|
|Truro College (via Chaos)|10,000||
|Truro Methodist Church||20,000|
|Truro Nourish hub CIC|5,000||
|Wave Project (2)|25,000||
|Whole again Communities — Live Younger Better|5,000||
|Young People Cornwall (Launceston Health Inequality Hub)||35,668|
|Grants withdrawn|(9,450)|(40,502)|
||308,495|315,135|





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|6|Support costs|||
|---|---|---|---|
|||2026|2025|
|||£|£|
||Wages and salaries (note9)|19,008|18,501|
||Admin support|1,388||
||Office facilities, postage & stationery|1,314|1,592|
||Telephone|201|778|
||Public relations||626|
||Sundry expenses|969|583|
||Bank charges|200|160|
||Insurance|973|420|
||Website and IT costs|4,882|9,416|
||Memberships|398|425|
||Storage costs|406|364|
||Governance (note 7)|15,080|10,429|
|||44,819|43,294|
|7|Governancecosts|||
|||2026|2025|
|||£|£|
||Audit & accountancy fees|6,332|4,390|
||Professional fees|5,400|2,410|
||Trustee indemnity|726|1,692|
||insurance|||
||Venue costs|2,622|1,937|
|||15,080|10,429|
|8|Netmovementinfunds|||
|||2026|2025|
|||£|£|
||Is stated after charging:|||
||Auditors' remuneration|4,832|4,030|
||Auditors remuneration — non audit|1,500|360|
||services|||





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|Staff costs|||
|---|---|---|
||2026|2025|
||£|£|
|Salaries|18,100|17,527|
|Pension costs (see note|356|339|
|2.3)|||
|Other expenses|552|635|
||19,008|18,501|



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|icant holdings|includ|ed in fixed|asset inves|tmen|ts at 3|1|March 2|026|were as f|ollows:|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Market|
|||||||||||Value|
|303,429.1133|COLA|Charities|Investment|Fund|Units|at|£17.82|per|unit|5,407,046|
|||||||||||5,407,046|



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|12|Debtors|||
|---|---|---|---|
|||2026|2025|
|||£|£|
||Prepayments|439|3,274|
||Accrued income— COLA|45,385||
||Other debtors|9,552||
|||55,376|3,274|
|13|Creditors: amounts falling due within one year|||
|||2026|2025|
|||£|£|
||Duchy Bond loans|5,655|5,655|
||Grants payable|93,132|93,888|
||Other creditors|69|66|
||Accruals and deferred income|6,800|4,060|
|||105,656|103,669|
|14|Creditors: amounts falling due in more than one year|||
|||2026|2025|
|||£|£|
||Grants payable|15,000||





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|Analysis of net assets between funds|||
|---|---|---|
||Unrestricted|31 March|
||funds|2026|
||£|£|
|Fixed assets|5,407,046|5,407,046|
|Current assets|121,334|121,334|
|Current liabilities|(105,656)|(105,656)|
|Non-current liabilities|(15,000)|(15,000)|
||5,407,724|5,407,724|
||Unrestricted|31 March|
||funds|2025|
||£|£|
|Fixed assets|5,768,454|5,768,454|
|Current assets|122,691|122,691|
|Current liabilities|(103,669)|(103,669)|
||5,787,476|5,787,476|





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|Currentyear|At<br>1|||||At 31|
|---|---|---|---|---|---|---|
|funds|April|Total|Total|Investment||March|
|movement|2025|income|expenditure|losses|Transfers|2026|
||£||£||£||
|Generalfund|3,782,511|277,765|(375,610)||1,723,058|5,407,724|
|Revaluation|2,004,965||-|(281,907)|(1,723,058)||
|reserve|||||||
|Total|5,787,476|277,765|(375,610)|(281,907)|-|5,407,724|
|Prioryear<br>funds|At 1<br>April|Total|Total|Investment||At 31<br>March|
|movement|2024|income|expenditure|gains|Transfers|2025|
||£|£||£|£|£|
|Generalfund|3,800,752|281,198|(359,429)|59,990|-|3,782,511|
|Revaluation|1,818,405|||186,560|-|2,004,965|
|reserve|||||||
|Total|5,619,157|281,198|(359,429)|246,550|-|5,787,476|





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|o 3|1|March 2026:|||
|---|---|---|---|---|
|||||E|
|Ms|K|Hutchinson|Chaos Group|61,024|



|o 31|March 2025:|||
|---|---|---|---|
||||£|
|Ms|K Hutchinson|Chaos Group|39,072|
|Mrs|S-J Coode|Merlin Neuro Therapy Centre|10,000|
|Ms|G Coley|Friends of Wadebridge Sports & Leisure|49,989|
|||Centre||



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