2022-03-31-accounts - The Sherling Charitable Trust

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			Page
Legal and administrative		information
Trustees' report			2-3
Auditors' report			4-6
Statement offinancial	activities
Balance sheet
Cash flow statement
Notes to cash flow statement			10
Notes to the financial	statements		11-15

Trustees		C R Sherling		(Chairman)
		SA Sherling
		A M Sherling
		W D Sherling
Governing	document	Trust Deed dated 15		December 1999
Registered	chadty number	1079851
Principal address		Lincoln House
		Woodside Hill
		Chalfont StPeter
		Buckinghamshire
		SL99TF
Auditors		Norm Hayward	LLP
		2-4 Packhorse	Road
		Gerrards Cross
		Buckinghamshire
		SL97QE
Bankers		HSBC Private Bank
		8 Cork Street
		London
		W1S3LJ
Investment	managers	Rathbone Investment		Management
		8 Finsbury Circus
		London
		EC2M 7AZ

		2022	2021
			Unaudited
	Notes		6
INCOME AND DONATIONS
Donations		2,290,000	142,764
Investment income		118,741	87,751
TOTALINCOME		2,408,741	230,515
EXPENDITURE
Costs of raising funds:
Charitable activities		411,100	234,000
TOTAL EXPENDITURE		411,100	234,000
NET INCOME/(EXPENDITURE)		1,997,641	(3,485)
Net gains/(losses) on investments		107,532	462,159
NET MOVEMENT IN FUNDS		2,105,173	458,674
Fund balances brought forward		3,251,385	2,792,711
Fund balances carried forward		5356558	3,251,385

		2022	2021
			Unaudited
	Notes	8	f
CASHFLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities	1	1,880,864	90,948
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends and interest received net ofcharges		118,741	87,751
Investments at cost		(2,655,375)	(100,250)
Sales proceeds		700,000
Net cash ouNow from investing activities		1,836,634	12499
INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS		44,230	(103,447)
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE YEAR		92,105	195,552
CASH AND CASH EQUIVALENTS AT THE END OF
THE YEAR	2	136,335	92,105

							2022	2021
							8
	RECONCILIATION	OF NET INCOME/(EXPENDITURE)				TO NET
	CASH FLOWS FROM OPERATING ACTIVITIES
	Net movement in income/(expenditure)				for the year		2,105,173	458,674
	(as per the statement		offinancial	activities)
	Attjvstments for:
	Dividends received						(118,741)	(87,751)
	Gains on investments						(107,532)	(462,491)
	(Increase)/Decrease		in debtors				(1,636)	620
	(Decrease)/Increase		in creditors				3,600	0
	Net cash provided	by	operating	activities			1 880,864	90,948
2	ANALYSIS OF CASH AND CASH EQUIVALENTS						2022	2021
							E	6
	Current account						733	265
	Depositaccount						135,602	91,840
	Total cash at bank						136,335	92,105

2.6	Taxation
	The trust is a registered charity and, therefore, is not liable for income tax or corporation tax on
	income derived from its charitable activities, as it falls within the various exemptions available to
	registered charities if applied for charitable purposes.
2.7	Financial instruments
	The chadity only has financial assets and liabilities of a kind that qualifies as basic financial
	instruments. Basic financial instruments are initially recognised at transaction value and
	subsequently measured at amortised costs using the effective interest method. Financial assets
	held at amortised cost comprise cash at bank and other debtors. Financial liabilities held at
	amortised cost comprise other creditors.
	Investments, including equity linked notes held as part of an investment porffolio, are held at fair
	value at the balance sheet date, with gains and losses being recognised within income and
	expenditure.
2.8	Cash and cash equivalents
	Cash and cash equivalents comprise cash in hand, current and deposit accounts held at the
	bank.
	Cash and cash equivalents held by investment managers are included within investments.
2.9	Judgements and estimation
	Preparation of the financial statements requires management to make judgements, estimates
	and assumptions about the carrying value of assets and liabilities that are not readily apparent
	from other sources. The estimates and underlying assumptions are based on historical
	experience and other factors that are considered to be relevant. Actual results may differ from
	these estimates.
	The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to
	accounting estimates are recognised in the period in which the estimate is revised if the revision
	affects only that period or in the period ofthe revision and future periods ifthe revision affects the
	cunent and future periods. There were no key sources ofestimation uncertainty in the year.
2.10	Going concern
	The trustees have considered the continuing effect of the Covid-19 pandemic and the general
	state of the stock market on the charity's activities and they believe that it is unlikely to cause
	significant disruption to the chadity's ability to pay grants as it has sufficient liquid assets available.
	The trustees believe the charity has sufficient assets to enable it to continue as a going concern
	for a period ofat least twelve months from the date ofapproval ofthese financial statements.

3	INCOME				2022	2022	2021
						6	E
	Donations
	Donations				2,132,000		132,764
	Gift aid					158,000	10,000
					2,290,000		142,764
	Investment income				2022		2021
						6	E
	Dividends and interest on	investments		(net ofcharges)		118,460	87,738
	Bank interest received					281	13
						118,741	87,751
4	CHARITABLE ACTIVITIES				2022		2021
						6	6
	Grants
	Chiltem MS Centre					112,500	112,500
	Scannappeal					100,000
	Heart ofBucks					50,000	10,000
	Friends of Liberty Woodland		School			35,000	35,000
	Chiltem Open Air Museum					15,000	15,000
	Autism Wessex					15,000
	Hospice ofSt Francis					15,000	10,000
	Thames Valley Air Ambulance					10,000	10,000
	Dorset &Somerset Air Ambulance					10,000	10,000
	Marie Curie Foundation					10,000	10,000
	Zoological Society of London					10,000
	DENS					10,000
	Flute Theatre					6,000	2,500
	Melanoma Focus					3,000
	Deafblind					2,000	2,000
	Independent Age					2,000	2,000
	Child Bereavement					2,000
	Chiltem Dial-a Ride						15,000
	Total grants					407,500	234,000
	Support and governance	costs				3,600
	Total charitable activities					411,100	234,000
	All ofthe above are grants to registered			charities given	in furtherance	ofthe charity's objects.
5	SUPPORT AND GOVERNANCE COSTS					2022f	2021 6
	Auditors' remuneration					3,600
						3,600

INVESTMENTS - LISTED	INVESTMENTS - LISTED	INVESTMENTS - LISTED			Equity
				Rathbone	Linked
				Porffolio	Notes	Total
				6	6	6
As at 1 April 2021				2,472,479	685,120	3,157,599
Additions at cost				500,000	2,155,375	2,655,375
Revaluations				203,377	(95,845)	107,532
Dispoaala at cost					(700,000)	(700,000)
As at 31 March 2022				3,175,656	2,044650	5,220 506
Fair value
At 31 March 2022						5,220,506
At 31 March 2021						3,191,999
Material investments	-	over 5'/9
			9/	2022	4/9	2021
Overseas
SPDR Series Trust S8	P	500 ETF	6.36	332,220	7.03	221,964
UK
Equity Linked Structured		Notes	39.17	2,044,650	21.70	685,120

DEBTORS			2022	2021
			6	6
Inveatmsnt	income	receivable	3,317	1,681
			3,317	1,681

9	CASH AT BANK								2022f		2021 6
	Bank deposit account								135,602		91,840
	Bank current account								733		265
	Cash at bank								136,335		92,105
10	CREDITORS - AMOUNTS		FALLING						2022		2021
	DUE WITHIN ONE YEAR								8		6
	Other creditors								3,600
									3,600
11	FINANCIAL INSTRUMENTS								2022		2021
									6
	Financial assets	measured	at amortised			cost			136,335		92,105
	Financial assets	at fair value through			the		income and
	expenditure account.								5,220,506		3,157,599
									5,356,841		3,249,704
	Financial liabilities measured			at amortised			cost		3,600
12	FINANCIAL COMMITMENTS
	At the balance	sheet date,		the charity			had	unconditional	commitments to make	charitable	grants as
	follows:
									2022		2021
									8		6
	Within one year								14,000		147,500
	1-2years								13,000		14,000
	2 - 5years								3,000		16,000
									30,000		177,500