WILLIAM JOHN MILLS co￿AGEs TRUST
FINANCIAL STATEMEwrs
YEAR ENDED 5 APRtL 2023
Conienis
Reference and admini8traiion detai18
Tru81ee8 report
Independettl examiner's report
Staiement of financial aCiivitie8
Balance 8heei
Note8 io the financial 8tatemeni8
7-10

wtLLIAM JOHN MILLS co￿AGEs TRUST
REFERENCE AND ADMINISTRATION DETAILS
Registered tharity number
275488
Charity's principal address
The Communily Room
Mill% St
St Day
Redruih
TR165LL
Trustees
Mr8 E Wilson - Chair
Mr P Barker- Trea%urer
Mrs S Burley- Vice Chair
Mr S Edw￿￿ d% (Resigned June 2022)
Mr K Gold8WOrthy
Mr C Wil%on
Mrs D Birrell (Appointed June 20221
Clerks to the trustees
M8 C Freeman IRe%igned Ociober 2022)
Mrs K Aiherton IRe%igned December 2022)
Mrs J Whybrow
M% L William% (Appoinied November 20221
Independent examiner
Mrs M Huiching8
Apsleys LLP
Chartered Accounianis
21 Bampton Street
Tiverton
Devon EX16 6AA
Bankers
CAF Bank Lid
King% Mill
We%t MIL Iling
Keni ME19 4TA
Barclay8 Bank plc
Tn]ro
Cornwall
Virgin Money
Jubilee House
Gosforth
Newca%tle upon Tyne
NE3 4XS
United Trn%t Bank
80 HLlymarkei
London SWIY 4TE
Hampshire Tru81 Bank
55 Bi%hop%gaie
London EC2N 3AS
Solicitors
Stephens Scown LLP
3 Cros% Lane
St Ausiell
Cornwall PL25 4AX

WILLIAM JOHN MILLS co￿AGEs TRUST
REPORT OF THE TRUSTEES
The Tru8tee% pre8ent their report nd Ihe finL2ncial 81aiemen18 of the charity for the year ended 5 April 2Q23. The iru8iee% have
adopted the provi%ions ofihe Siaiemeni ot. Reeommended PrÉ2Cliee ISORPI"Accouniing and Reponing by Charities" IFRS
1021 in preparing the annual report and financia] 8tatement8 of the chariiy.
(IBJECTIVES AND ACTIVITILg
mmary of the objects of the tharity set out in its governing ￿￿￿ment
To proi'ide accommodlL tion t.or OCLUPation by de%erving poor pe￿On8 being re8ident8 of, or former re8idents of, the fomer
Di81rici of Kerrier in Ihe County of Cornwall.
Summary of the main actisryties in relation to these objectives
Provided 42 uni18 of accommodation throughout the year.
The tn]8tees have had regard to the Charity Commi8sion guidance on public benefit and believe this 18 achieved via the
charily 8 objective8 and activities.
ACHIEVEMENTS AND PERFORMANCE
Summary of the main achievements of the charity during the year
The origin8 ot'ihe Tnisl go baek io the 19308 when it% foiinder boughi a street ot'28 fomer mining coitages lo hou8e 'ihe poor
and needy, ot. Sl Day. Buili during the eopper and lin mining boom in the mid-19th century, they are hisiorieal buildings and
were li%ied Grade 2 in Ihe 198Qs. Thi% context ]% imporiani a% ii %et8 the many challenge% in ierm% of mLlintenance. but in
many other way8 100.
Although built at the same time, each is unique wilh no Iwo properiie8 8haring ideniical internal layout8, de8pite having
unitorn) exieriors. In pariicular, careful con%ideration needs to be iaken when allocaiing new re%ideni%, while the li%ting% %iaiu8
po%es ceriain re%iriciions on what can be achieved 10 make the living %pace% relevani to the 21si ceniury. It requires a certain
mouni of juggling.
The Trn8t is fortunate in having buili bungalow8 {20 years ago) for the le8s mobile resideni8. 80 are able io offer th08e
becoming frail an opportunily to move Llcro%% from the mining cotiage%. Two hou%ehold% made such a move, allowing u8 10
refre%h Iheir hou%e% for new resident% who can more ea%ily navigaie Ihe 8ieep, awkward 8ttiitt. It a]so freed up one of the
coitages with a down%tLliTh bathroom for anoiher long-tem) re%ideni.
A% well Ihe re%ulting Ihree %mall-%ClL le refurbi%hment%, another two coitLlge% have had a makeover following fom)er
re%ideni% moving to alternaiive accommodLltion. Additionally, we began a major remodelling of one property IhlL t wa% home to
very privaie genileman who%e wishes we ob%erved in delaying much-needed siructural work. It 18 a major undertaking,
requiring listed bllilding conseni blli will re8llli in a home for the future wilh a more practica] layollt.
Externally, we embarked on a 4-year programme of repairing yearn of damage 10 the front% of the cotiage% cau%ed by cemeni
render and poiniing1IL widespreLld praciice Llfier WW21 with the help of a %killed arii%an who 18 re%toring Ihe facade% u%ing
lime, the IrlL diiional maierial u%ed during the original con%iruction. Around 25fc of the %treei wa% tLlckled during the l&si year
and represents the Trusi's single biggest item ot'expendilure.
After the confinement8 and re8iriciions impo8ed by Covid, we feli thai all of our re8idenis could benefit from a fre8h 8tart and
I new impeiu% courte%y of IL reviiali%ed Community Room. A8 well &$ being given a new roof, the main hall h&$ been ￿Ven
completely new look by eliminating the false ceiling 2É nd exw8ing the ratler%- nobody ￿'0i7[d know il u8ed to be a
%ILlughierhou%el Ii i% being oflicially unveiled during St Day FelL %[ celebraiion% (when WJ Mill% benefaciion is commemorated)
nd a re8ident committee 18 bu8ily preparing a programme of 8ocial activities.
Problems due to 8ub8idence relaied to old mine working8 18 continuing 10 cau8e u8 problems, largely due io an inefficieni and
proincied in%unnce proce%8 which continue% to deny re%ideni% of Iwo cotiages Ihe u%e of Iheir garden%. Thi8 wa8 reported lasi
lime and we %taied thai il wa% a maiter 10 be addres%ed with some urgency. bui we %adly no t"uriher forward.

WILLIAM JOHN MILLS co￿AGEs TRUST
REPORT OF THE TRUSTEES
CONTINUED
Finally, and this is unfortunaiely another negaiive note, the Tru81 commi88ioned a report on the di%trict healing system, part of
which wa% to deiemiine our move away from fos%il fuels feeding our boilers. The only viable Oplion would be to in%tall new
model% capable of u%ing HVO (Hydrotreaied Vegeiable Oil) but Ihis is currently prohibiiively expensive. A% an a%ide, we have
l%0 identified 80me thermal efficiency improvement% 10 our properiies bui lisied buildings regulaiion% al80 M￿Ce Ihe%e cosi-
prohibitive. As an organi8aiion, we have ambition8 io reduce our carbon footprint, bui loo many ob8tacles are pui in our way.
FINANCIAL REVIEW
Net expenditure for the year (before revaluaiion) £25,965 a% cOMpL￿ed to neiexpendiiure of £6,298 for Ihe previou% year.
Although there hlL % been an increLl%e in mainienance contribuiions and decrea%e in property repair% and Improvement%, Ihe
overall increa8e in net expenditure refleci8 Ihe imptiiment of the intercompany loan.
Brief summary of the ehhrity's polle> on reserves
£5￿00 held to cover unfore8een reptiitt. Balance held 10 provide more suitable property for our le8s able re8ident8 and io
increLl%e hou%ing %tock.
STRUCTURE, C.OVERNANCE AND MANAGEMENT
Type of governing document
How the charity is con%tiiuted
Tru81ee 8election method
Tn]st Deed
Tn]st
Appoinied by exisiing Tru8iees
Trustees, consider9tion of risks
The tn]%tees have examined the major sirategic business and operationa] ri8ks which the tru81 face8 and confim Ihat 8y8tem8
have been e%tLlbli%hed to le%sen Iho%e ri%ks.
Relationship between charity and related parties
The tru%tee.g ol thi% trusi are Ll1%0 the %ame Ll% Iho%e for W J Mill8 Grant Fund (charity number 1120627).
TRU.gTEES RESPONSIBILITIES
The tru%tee.g are re%wn.gible for preparing the Tru8iee8' Annual Repon and the financial statement8 in accordance with
pplicable law and United Kingdom Accounting Standard8 (Uniied Kingdom Generally Accepied Accounting Practice).
Law applicable to chariiieq in England & Wale% require8 the Iru8iee8 to prepare financi2L l 8tL2tement8 for each finL2ncial year
which give a tme Llnd t.air view of the %taie of affair% of Ihe charily and of the incoming re%ource% and applicLltion of re%ource8
of Ihe charity for that period. In preparing ihe8e financia] 8tatement8, the Irusiee8 are required 10..
* 8eleci suitable accounting policie8 and then apply them consi81ently-
• ob%erve the meihods Llnd principle% of the ChLlritie% SORP 2Q15 IFRS 1021-
• make judgemenis IL nd esiimaie% thai are re&sonable and prudent.,
• 8tate wheiher applicable accounting %iandard% have been followed, subjeci io any
materiLI1 dep￿￿ lure% di%closed and expllL ined in Ihe financial %iaiemeni8;
prepare the financilL l %tLltement% on the going concern basis unle88 It is inappropriate to
pre%ume IhlL t Ihe Ch￿￿LlY will continue in opention.
The tn]8tee8 are re8wn8ible for keeping accounting record8 thai di8clo8e with re&8onable accuracy at any lime Ihe finlL ncial
PO%llion of Ihe chariiy and enlL ble Ihem 10 ensure IhlL t Ihe tinancial %iaiemenis comply with the Charitie% Aci 2011. The Charity
(Accounis Report%} Regulations 2Q08 and the provision% ot" Ihe trusi deed. They are also re%ponsible for safeguarding Ihe
a%set% of Ihe charily and hence for iaking rea%onable slep% for the prevention and deiection of traud and oiher irregularities.
This report was approved by the board ott........................... and signed on their behalf by..
Mrs E A Wilson
Chair

tNDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WILLIAM JOHN MILLS COTtAGES TRUST
I report io Ihe charity trn8tees on my examinaiion of Ihe accounts of the charity for the year ended 5 April 2023 which are 8ei
out on page8 5 to 10.
Res￿nSIbIlItieS and basis of rewbrt
A8 the eharily'% tnislees you are responsible tor the preparation of the accounts in accordance with the requiremenis ot. the
Charities Act 2011 I'lhe Aci'l.
I report in re%peel ot'my examinaiion ofihe chÉ2rity's accounts e2É rried out under %eclion 145 ot. the Act and in carrying out my
examinaiion I have followed all Ihe applicable Directions given by Ihe Charily Commis%ion llnder section 145(51(bl ot" the
Aet.
Independent examiner's st2tement
Since the charity'8 gros8 income exceeded £250,000 your ex2É miner mu8t be a member of a body lisied in section 145 of the
2Q I l Aci. I confim) that I am qualified 10 llndert￿(e Ihe examinaiion becau%e I am a member ot" Ihe In%titute of ch￿ered
Accountani8 in England and Wales IICAEWI.
I have compleied my examination. I eonfjrn) that no materiiL I maiter8 have come to my atieniion in conneciion with the
examinaiion giving me CLlu%e to believe that in any maierial re%peci'.
accounting record% were not kepi in re%pect of the charity as required by 8ection 130 of the Aci., or
the account% do not Llccord with tho%e records., or
the account% do not comply with the applicable requiremeni8 concerning the fomi and conieni of accoun18 set oui in the
Chariiie% IAecount% and Reports) Regulaiion% 2008 other Ihan any requirement that the accounts give a 'tn]e and fair
view, which is not a mailer con%idered a8 pan ot'an Independeni examinaiion.
I have no concems and have come acros% no other mlL tieTh in conneciion wilh Ihe exlL minaiion 10 which aiteniion should be
drawn in thi% report in order 10 enable a proper undersianding of Ihe IL ccounis 10 be reached.
Mrs M Hlltchings
Apsleys LLP
21 Bampton Street
Til'erton
Devon EX16 6AA
Date..

WILLIAM JOHN MILLS co￿AGEs TRUST
STATEMENf OF FtNANCIAL ACTIVITIES
YEAR ENDED 5 APRIL 2023
Unre81ricied Endowment
fund
Notes
Toial 2023
Total 2022
Income
Charitable activities
Reni8 receivable
260,563
260,563
250,781
Inve%tment income
Bank inieresi
1,325
837
1,325
837
929
Oiher income
33
Total income
262,725
262,725
251,743
Expendiiure
Chariiable activities
199,45Q
89,24Q
288,69Q
199,450
89,240
288,690
214,829
43,212
258,041
Oiher
Total expendiiure
Net incomellexpendiiurel for the year
Revaluaiion of iangible tixed &s%eis
Net movemeni in fund%
125,965)
199,467
173,502
2,266,465
2,439,967
125,9651
674,Q23
648,Q58
7.396,767
8.044,825
16,298)
212,234
205,936
7,190,831
7,396,767
474,556
474,556
5,13Q.3Q2
5,604.858
BLIIIL nce broughi fonvard
Balance carried forward

WILLIAM JOHN MILLS co￿AGEs TRUST
BALANCE SHEET
5 APRIL 2023
2023
2022
Note
Inve%tment%
W J Mill% (Property) |Ltd
Fixed
TIL ngible fixed a8sets
7,960,704
7,286,681
Cu]reni a%8eis
Debior8
C&8h ai bank and in hand
26,317
217,893
244,210
63,678
225,172
288,850
Crediior8 '. Amoun18 due within one year
41,438
38,785
Net curreni a8sets
2Q2,772
8,163,478
25Q,065
7,536,748
Crediior8 '. Amoun18 due afier one year
Net a8set8
118,653
8,044.825
139,981
7,396,767
Capital funds
Endowments
Income t.und
Unre%tricted fund8
5,604,858
5,130,302
2,439,967
8,044.825
2,266,465
7,396,767
The financial siaiements were approved and authorised for i8sue by the ttu81ee8 on.............................
nd 8igned on Iheir behalf by-.
Mrs E A Wilson- Chair
Mrs.g Burley - Vice-chair
The notes on pagÈs 7 to 10 form part of thÈse financial staiemÈnis

WILLIAM JOHN MILLS co￿AGEs TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2023
l. Summary ofsignificant accounting polities
(Al Cieneral information and b2sis ofpreparation
WilliLim John Mill8 Coitages Tn]8t is a charitable 1rn8t. The Trusi i8 a registered chariiy in England within Ihe United
Kingdom.
The charity con8titute8 public benefit eniiiy defined by FRS 102. The financial 8iatemeni8 have been prepared in
accordlL nce with Accounting Llnd Rewrting by Charilies.. Siaiemeni of Recommended Praciice applicable 10 chariiie8
preparing their account% in accordance with the Financial Rewrting StLlttdL￿d applicable in the UK and Republic of
Ireland IFRS 1021 i%%ued on 16 July 2Q14 la% updaied through Update Bulletin I published on 2 February 2Ql 61, Ihe
Charilie8 Aci 2Ql l and UK Generally Accepted Accounting Practice.
The financial staiements are prepared on a going concern ba8i8 under the hi8torical co81 conveniion, modified 10 include
certain iiem% at fair VlL lue. The financial 81aiemenis are presented in 8terling which is Ihe funciional cu]rency of Ihe charity
and rounded 10 Ihe neare%1 £.
The %ignificani accounting policie8 applied in the preparition of the8e finL2ncial 81aiemenis are 8ei out below. These
policie% hLlve been con%i%ienily applied 10 all Yea￿ pre%enied unles% oiherwi%e ted.
Ibl Income re¢ognition
All incoming resources are included in the Siaiemeni of FinancilL l Activiiies ISOFAI when the charity is legLllly eniitled 10
the Income afier any perfomiance conditiort% have been met, Ihe amollnt can be mea%llred reliably and li 1% probable thai
the income will be received.
No amount is included in the financia] 8tatement8 for volunteer time in line with the SORP IFRS 102).
Icl Expenditure recognition
All expenditure 18 accounted for on an accrual8 basi8 and has been clas8ified under heading8 thai aggregate all costs relaied
to the category. Expendiiure 18 recogni%ed where there i% legal or con%tn]ctive obliglL tion to M￿Ce PlL yment% to third
partie%, il i% probable Ihai Ihe %eitlement will be required and Ihe amouni of Ihe obligation can be mea8llred reliably. It is
caiegori%ed under Ihe following heading%".
Expenditure on chariiable aCiiViiie8,' and
Other expenditure
Irrecoverable VAT is charged an expense agtiin8t the activiiy for which expenditure arose.
Granis payable to third partie8 are within the charitable objeciive8. Where unconditional grant8 are offered, thi8 is accn]ed
as a% the recipieni i% notified of Ihe grant4 Ihis give% ri%e 10 a reLl%onable expectaiion IhlL t Ihe recipient will receive
the gnni%. Where granis are conditionlL I relaiing to performance Ihen the grani i% only accrued when any llnt"ulfilled
condilion% are out%ide of Ihe conirol of Ihe Ch￿￿llY.
Idl Tangible fixed assets
Freehold land and buildings are 8iated at fair va]ue.
Oiher sundry fixed as8eis are included in the SOFA in the year of purchase.

WILLIAM JOHN MILLS co￿AGEs TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2023
(el Investments
Inve8tment8 in subsidiarie8 are mea8ured at co8t le88 impairment.
Ir) Debtors and creditors receivable I payable within one year
Debior8 and creditors with no siaied interest rate and receivable or payable within one year are recorded ai tran8action
price. Any 108ses tirising from impaimient are recognised in expendiiure.
Igl Cash
C&8h and ca%h equivalenis are ba%ie financial as8e18 and include cash in hand, dep08lt% held at call with banks, other 8hori-
tem) liquid invesimenis with original maiuriiie8 of Ihree month8 or les8, and bank overdrafi8.
Ihl Funds
Unre%tricted fund% are Llvai1lL ble for u%e at the discreiion ot" Ihe trusiee8 in furtherance of the general objectives of the
charily and which have noi been de%ignLlted for other purpo%es.
Endowment funds repre%eni Iho%e a%set% which mu%t be held permanently by the ehariiy, principally freehold property in Si
DIL y. Income ari%ing on the endowment funds can be u%ed In accordance with the objec[% of Ihe charity and i% included
unresiricied income. Any capiial gains or lo%se% ari%ing on the inve%tment8 form part of the fund. Inve8tment management
charge% and legal advice relating 10 Ihe fund are charged agairt%t the fund.
lil Cjoing concern
Followiiig ilie global impact of 'COVID-19'. al the lime ot approving the tinancial slatemeiils. the m]£lee£ have a re&£onable
expectaiion that the chariiy ha£ adequate resources to coniinue iii o￿lE￿IDn￿l existence tor the tore£eeable fuluTe. Thus the Iruslees
coiiiiiiue io adopi the going concern ot-accounling in prep￿]llE the financial qtatemeiiis.
2. Investments in Sllbsidiary
l(K)% holding of W J Mill8 (Property) Lid which was incorporated on 25 November 2019. It8 Company number is
12331192.
3. Tangible fixed assets
Freehold nd
nd biiildin
VIL luation
Ai 6 April 2022
Increa%e in VLlluation
Ai 5 April 2023
7,286,681
674,Q23
7,960,704
Depreciation
Ai 6 April 2022
Charge for the year
Ai 5 April 2023
Net book value
Ai 5 April 2023
Ai 6 April 2022
7.960,704
7,286,681
In Ihe ab%ence of an exiernal valuaiion, for which co%t% have to be Incurred, Ihe be%1 available inforn)ation i% represented
by rein%tLltement value% adopied for in%llrance purpose% ioialling £7,960,70412022 £7.286,6811 in respeci of Ihe freehold
propertie% excluding IIL nd values.
If freehold nd and building8 had not been revalued in previous yeatt, li would have been included on the hisiorical cost
ba%]% of £1,567,457.

THE WILLIAM JOHN MILLS co￿AGEs TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2023
4. Debtors
2023
2022
Trade debtors
Amoun1% owed by a8sociaied undertakings
Prepaymeni8
4,563
20,Q(K)
1,754
26,317
2,978
59,074
1,626
63,678
5. Creditors: Amounts falling due within one year
2Q23
2022
Reni in advance
Loan
Aecrual8
Social 8ecurily
Oiher crediior8
19,981
19,987
1,420
48
18,818
18,645
1,320
41,438
38,785
6. Creditors: Amounts falling due after one year
2023
2022
Loan
118,653
139,981
The ioial amount of Ihe loan from The Charity Bank Ltd outstanding at 5 April 2023 i8 £138,64012022.. £158,626). Thi8
amouni does noi include intere8t which is due on the ou181anding ba]ance.
7. Analysis of net assets between funds
Unre%iricied Endowmeni
flind%
Total fund8
Fund balances IL t 5 April 2023
are repre%ented by
Inve%tment
TIL ngible fixed a8sets
Curreni a%sets
Liabiliiie8
2,355,846
244,210
116Q.0911
2,439.967
5,6(14,858
7,96Q,704
244,2 la
1160,0911
8,Q44,825
5.6Q4,858

io
THE WILLIAM JOHN MILLS co￿AGEs TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2023
¥. Expenditure- llnrestricted funds
Pro
ert
Grants
runnin
maintenance
donaiion%
cosis
Other
Toial 2Q23
Total 2Q22
Gift% and donations 10 residen18
Clerks WlL ges
Tru%iee% IrlL vel expenses
AdminisirlL tive eosis
Bookkeeping
Accountancy
Independeni examination
Oiher profe%%ional fee%
Tru%iee% indemniiy in8urance
Property Insurance
Heal, light. WlL ter and rates
Caretaker IL nd gardening
Property repairs and improvement8
Bank charges
Loan commitment fee
Loan inieresi PlL id
Iniercompany loan impairn)eni
1,484
1,484
26,825
2,618
2,612
1,531
21,135
1,583
2,659
26,825
2,618
2,612
570
970
4,626
381
57Q
97Q
4,626
381
5,124
43,194
6,919
142,729
72
909
9,695
39,962
288,690
51Q
869
1,713
381
4,76Q
37,756
7,477
163,305
97
3,228
11,037
5,124
43,194
6,919
142,729
72
9Q9
9.695
39.962
89.240
1,484
197,966
258,041
Y. Wages and salaries
2023
2Q22
25,241
1,584
26,825
20,188
947
21,135
Social Security Co8is
Average number of 8iaff
There were no employees with emolument8 in exces8 of £60(K)O.
IU. Trustees remllneration and expenses
2023
2Q22
Tru%iee% remuneraiion
Trusiee% expen%es
NIL
2,618
NIL
1,583
TNsiee8 expen8e8 mainly relate to travel cosis and were claimed by 2 ttusiee812022.. 2).
11. Related party transactions
A% ai 5 April 2023 W J Mill% {Properiyl Ltd owed the Trusi £2Q,OOQ12022.. £59.Q741 following Ihe implL irnient of the loan
due to the projeci not going ahead and the VlL lue of Ihe land not %ufficient 10 cover totlL I value ot" Ihe loan. Tru%tee% Mr K
Gold8worthy and Mr S Edwards IRe8igned Sepiember 2Q221 are also directors of W J Mill% {Properiyl Ltd.