(Charity Number: 1079651)
THE SHERLING CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE SHERLING CHARrrABLE TRUST
INDEX
Pago
Legal and admlnlstratlve Informallon
Trustaos, report
Audltorfs report
Statemenl of flnanclal 8thllles
Balance sheet
Cash flow slatsm8nt
Notes to cash flow statement
10
Notes to the financial 8lalem•nt8
11-15

THE SHERLING CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trusteès
C R Sh8rllng
S A Shèrllng
A M Sherling
W D Sherllng
(Chaimian)
Goveming documenl
Trust Deed daled 15 December 1999
Registered Charity number
1079651
Prfndpal address
Llncoln Hous8
Woodslde Hlll
Chalfont St Peler
Bucklnghamshl
SL9 9TF
Audltors
Nunn Hasward LLP
24 Packhorse Road
Gerrards Cross
8ucklngham8hlre
SL9 7QE
Bankers
HSBC Prlvate Bank
8 Cork Slreet
London
W1S3LJ
Investment managers
Rathbono Investment Management
8 Flnsbury Clicus
London
EC2M 7AZ

THE SHERLING CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Th8 trustees present thelr report along wllh the financlal ststemnts of tho charfty for thè y8ar endad 31 March 2024.
The financlal statements have been prepared In aceordance %*llh Ihè sccounllng pollcles 8el out In note 2 to the a￿)Unts and
comply ￿1th tho charlty8 trust deed, Charilies Act 2011 and the Charlttos SORP IFRS102) - Stat8mont of Racommended
Practlca: Accounth)g and Reportlng by Charltles (2019).
CONSTITUTION AND OBJECTS
The trust Is constituted under o twst do￿ dated 15 December 1999 and Is a r8glsl8r•d ch8rlty. number 1079651.
Tha trust may pay or appty Its Incomo and ¢apltal to any legally chadtable In$lltution, body or fund or lor $uch18gally charllable
purpoye as the tru$tee8 shall. from tlm8 to Ilm8. In thalr absolute dl8cr8tlon. detomilne. The tfU$tees havo d6dd6d to support
vark)us health, arts and communlty charllles, bul ￿￿11 ￿nSIder other arnas of partlcular Intérèst io them.
ORGANISATION
The trustaes vtho $8Plod durfng the year and 8lnce then are sot out on page 1, The trustso8 moot as neodèd no1é88 than
four tlmes a year.
The Irusl deed wovSde8 that thore Should ￿ a mlnlmum of thrn• tru#l•es and no more than Sovon. Howovor, 88 ther• are no
pIAn8 to Intraduce addlllon81 Irustses. tha charlty ha8 no forn￿1 pollcles regardlng Inductlon and tralnlng for naw tN$tee8.
GRANT fdAKING POLICY
Appllcatlon$ for grantB from other charftable entllla8, Initltutlon8 or bod108 aro a88es8ed and approvod by lh• tfU8tees agalnst
Iholr area8 01 Intorest.
PUBUC BENep
The chadty iru8ts8s have compll@d vAth the duty In Secllon 17(5) ol tho Charlllos Act 2011 to have due ward lo guld8nce
publl8hed by the Charlty Commlsslon on publlc bènafll.
FINANCIAL REVIEW
Thé charlty does not cary out 81gnlflcant lundralslng actlvltlgs and h fundad by donatl¢)n8 from tru$lee8 and Inveslmenl
rètUmB.
Durlng the year, thé charfty rncefved donatlons of £525.1)00 (2023,, £800,000) and nat Inve8tment Income of £293.68712023:
£284.710), maklng total Income of £818,687 (2023; £884,710). The ¢harfty mado granis tolalllng £330.850 (2023: £261.500).
The Rathbone'8 Portfallo gen•ratod tho oXP8Ct8d Income. Th8 portlollo shob%•d an unrea1188d galn of £259.385 lor Ihe year.
Tho Inveslment In slwcluT8d •qulty products HSBC Prlvate Bank ha8 produced Iho ey4)e¢i8d Ir￿lmO. Thè nol8$ that
matured durlng the year wore all redeemed at par. Thè not6$ a¢qulred durlng the year 8how an unreallsed galn 01 £73.810 on
mark.to market bag1&. approxlmately 2.4% of Ihelr par value.
There18 no need for a reserves pollcy as the tNgt has no LX)ntractual ¢ommltmont# and re8èri88 carrled foNMrd are Invo8tsd
to provlde fvturé Income. At th8 balance sheet date the charlty had unrostrlcted reserrfes of £6,462.697. Thwe arn no
r•8lrlcted funds.
The trusto09 hav8 Inve8tad the monle$ ￿1h a vlew to the tru81 movlng to self sufficlency over the medlum temi.
RISK MANAGEMENT
The maln rlsk affectlng the tharlty Is the loss ol value of th• Invè#tment8. Tho truste•8 review the Investment management
stratègy regularty to mlnlmlse thls rlgk.

THE SHERLING CHARITABLE TRUST
REPORT OF THE TRUSTEES (contlnued)
AUDITORS
Nunn Hayward LLP are re-appolnled as audllors to the chadty.
STATEMENT OF TRUSTEES RESPONSIBILMES
Thé trustées are r8sponslbl8 for pr8parlng lh8 Truslee8 Report and Flnanclal Stalements In a¢¢ordgnce vllh appllcable laws
and Unlted Klngdom Accounllng Standard5 {Unlted Klngdom Gonerally Accopted Accountlng Practlcol.
The law appllcable to charftles In England and Wales requlres the trustees to prepare flnandal staiements lor each flnanclal
yoar. whlch glve a true and falr vléw of tho stat& of affAlrs of th8 charltys finandal actlvltles durlng the y8aT and of Its financlal
poslllon at the year erKI. In pfeparlng these financlal statomants. the Irusteos are r8qulr8d to:
ObseDlO the melhod8 and prtn¢lple$ In the Charllles SORP:
Sélecl Sultable aCt￿ntIng polklès And than apply them conslsiently:
Make judgements and accountlng e$tlmates that are reasonable and prudent,.
State whether appllcable UK Accountlng Standards have been lollo**d sublect to Any materlal departur88
dlsclr>sèd and explaln8d In th8 fin8n¢lal 8tatem8nls,'
Prepare the flnanclal glalaments on Ihe galng concam ba￿1 unles811 Is InApproprfate to pregume that the charfty
411 conllnue Its acllvllles.
Tha tru81809 are responslbl• for k88plng adoquaté accountlng r8cords Ihal are sufflclent to show and eyplaln the charlvs
Iran99Ctlons, dlsdose wilh roasonable aL%uracy at any tlme lh8 flnanclal poslllon of the charty and enablè them to ensure that
the financlal 8talemenl8 comply *rflh Ihe Charlilos Acl 2011. the ChaTllles (A￿OUnt8 and Reports) Regulailons 2008 and the
provlslons ol th• charlty8 constllutlon. Théy arn 8180 r8sponslblo for safeguardlng Iho assets of the chartty and hence for
toklng reasonabl• lteps lor the pr•ventlon and delectlon of fraud and other Irr•gularltl••.
STATEMENT OF DISCLOSURE TO AUOITORS
So far as each person vtho was a Irustee at the date of approvlng Ihl8 report18 aware, there 1$ no relevant audlt Infom)atlon of
whlch the audltors of tho charlty18 unawaro. Addlllonally. th8 tru8t8e# IndI￿￿AllY havé takén all thé n8cossary steps that thoy
ought to have taken ag Iruslees In order lo make Ihems•lves aware of all relevant audlt Inf0M￿tIon and to •stabllah that tho
audll(n of th8 eharlty Is aware of that Informatlon.
GOING CONCERN
Th8 Ifuslees bellev8 the charlty ha8 Sufflclenl a88ets to enable11 to ¢onllnue 88 8 golng c<¥ncewn ft)r a perlod of at leasl iwelve
months from lh6 date ol approval of Ih880 flnandal 8tatemenls. Thus they ¢onUnue lo adopi the golng con￿rn basls of
a¢￿untIng In weparlng Ihese finandal slatements.
Approved by th8 board of truBl8es on 28 Junè 2024 and 8lgned on Its behalf by..
C R Sh•rllng
ChaSmian

THE SHERLING CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE MEIIIBERS OF THE SHERLING CHARrrABLE TRUST
OPINION
We have audlted the financlal $talements of The Sh8rllng Charltable Trust for the year ended 31 March 2024
whlch ￿mPrISe the statement of financlal actfvitS6s, balance sheet. cash flow statement and related notes. The
financial reportlng fram6woTk that has bèen applled In th8lr preparation is applicable law arKI United Kingdom
AcC￿nI}ng Standards, Including Financial R8POrting Standard 102, The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally ArKepled Accounllng Practke).
In our oplnlon the Ilnanclal stat8ments:
glve a tru8 and falr vlew of the state of thts eharllvs affairs as at 31 March 2024 and of the ch8rlV$
Incomlng resources and application of resources, including its income and expendlture, for the year then
ended;
have be￿ properly prepared In accordance wlth United Klngdom Generally Accepted Accounting
Practlc8' and
have been prepared In accordance wlth Charllle8 Act 2011.
BASIS FOR OPINION
We conducted our audlt In acc¢Jrdance with Inlernational Standards on Audltlng (UK) (ISAS (UK)) and
appllcable law. Our responsibllllles under thoso standards are further desulbed In the auditor's responslbllltles
for the audlt of tho financlal statements section of our report. We are Independent of the charlty In accordance
wlth the ethlcal requlremenis that are relovant to our audlt of the flnandal statem8nt8 In the UK, Includlng the
FRC'S EthleAI Standard. and we have lulfilled our other ethlcal responslbllltles In accordance with th&%e
requlrements. W8 balleve that the audlt evldence we have obtalned18 Sufflclent ar¥J approprlate to provlde
basis for our oplnlon.
CONCLUSION RELATING TO GOING CONCERN
We have nothing to report In réspecl of the followlng matters In relation to whlch the ISA8 (UK) requlre us to
report to you where:
the tru8tea8' use ol the golng concem bas18 of accountlng In tha preparatlon ol the financlal statements Is
not approprlate: or
the trustees have not dl8clo8ed In the flnanclal statements any Identified materlal uncertalntles that may
¢asl signlficanl doubt about Ihe Gharlty$ ablllty to contlnue to adopt the golng concern basls of axountlng
for a perlod of at lea6t twelve monthg fr¢Jm the date when the financlal 8tatem8nts aro authorS98d for
188Ue.
OTHER INFORMATION
The other Informatlon comprlse$ tha Informallon Included In the annual report, other than the ffinonclal
statements and our audltor's report thereon. The trustees are respon51ble for the other Informallon. Our oplnlon
on the financlal slatemenls does nol cover th8 Other Informatlon and, exc8Pt to the extent otheTwlse explicilly
staled In our report. we do not expre88 any form of assurance conduslon thereon. In connecllon wllh our audlt
of th8 finand818tstements. our responslblllty Is to read the other Inforrnatlon and, In dtjing so, conslder whether
the other Informallon Is mateTlally inconslstent wllh the tlnanclal statement$ or our knowledge obtsined In the
audlt or otherwise appears to be materlally ml$$tatsd. If we Identlfy such malerial inconslstencles or apparent
m8terlal mlsstatements, we are requlred to determlne whether there is a matorlal mlsststement In the financial
statements or a malerial mlsstatemenl of the other Informatlon. If, based on the work we have performed, w8
concludo that Ihere Is a materlal ml88tatement of th18 Other Information. we are requlred to report Ihat fact. W8
have nothlng to report In thls regard.
MATfERS ON WHICH WE ARE REQUIREO TO REPORT BY EXCEPTION
We have nothing to r8POrt In respect of the followlng matters In relation to whlch the Charltles (Accounts and
Reports) Regulatlons 2008 require ￿ to report to you. If in our oplnlon:
the Informatlon glven in the finandal siatemenis Is In¢onslstent In any materlal respect with the tNstee8'
rep(#t: or
$ufficl8nl accountlng records have not been kept: or
th8 financial statement8 are not in agreement wilh Ihe accoUn￿ng records. or
we have not recelved all the information and explanations we require for our audiL

THE SHERLING CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE SHERUNG CHARrrABLE TRUST
(conllnuod)
RESPONSIBIUTIES OF THE TRUSTEES
As explained more fully In the statement of truste88' r8sponslbiliti8s. th8 trustees are responsibl8 for the
preparallon of the flnanclal stat8ments and for being satisfied that they give a true and fair vlew. and for such
Internal control as the trustees determlne 18 r￿ceSSary to enable the preparation ol financlal ststement3 that are
fre8 from material misstatement, whether due to fraud or erior.
In preparing the flnandal siatements, the trustees are responsible for assessing the charitls ablllty to conlinue
as a golng concern, dlscloslng, as applicable, matters related to golng concern and uslng the golng concern
basis of accounts'n9 unless the trusteès elther Intend to Ilquldate the charty or to cease operatlons, or have no
realistic alternatfve but to do so.
AUDITOR'S RE8PON8181LITIES FOR THE AUDIT OF THE FINANCIAL STATEMENT8
We have been appointed as audltor under se¢tlon 144 of Ihe Charllles Acl 2011 and report in accordance wlth
the Act and relevant regulatlons made or havlng effect thereunder.
Our oblectlve$ are to obtaln fea8onabl8 assurance about wh8ther th8 financial statements 86 a whole are free
from maierlal mlsstatement. whether du8 to fraud or error, and to Issue an 8udito¢s report that include5 our
oplnlon. Reasonable assurance Is a hlgh level of 8S8urance, but18 not a guaiantee thal an audit Conducted In
accordance wllh ISAS (UK) will always detecl a material mlsstatemenl when It exlst8. Ml88tatement8 can arise
from fraud or error and are consldered materlal ff, Indlvidually or In the aggregate, Ihey could reasonably be
expected to influence the ecor￿MI¢ decl$lon8 of users taken on the ba813 of these financlal statement8.
Irregularities. Includlng fraud, are Instance8 of non-compliance Mth laws and regulatlons. We deslgn
procedure8 In lina with our responslbllltles. ouulned above, to detect materlal ml8St8tements In respecl of
Irregularili88, Includlng fraud. The extent to whlch our procedures are capable of detectlng Irregularltles,
includlng fraud Is detalled below:
THE EXTENT THE AUDIT WA8 CON81DERED CAPABLE OF DETECTINO IRREGULARrriE8, INCLUDING
FRAUD
The objecllves of our audlt in r08peci of fraud are io; Identlfy and 818es8 Ihe rl8ks ol matarlAI misstatement of
the financlal statements due to fraud: to obtaln suffldent 8pproprlai8 audlt evld8nce regarding the asse86ed
risks ol material mlsstalem8nl due to fraud, ihrough deslgnlng and Implernentlng approprlate re8ponses: 8nd to
respond opproprlately to fraud or suspected fraud Identlfled duilng the audlt. However, the prlmary
sponslbility for the preventlon and detectlon of fraud re8t wlth the trustees.
OUR APPROACH WAS AS FOLLOWS:
We obtalned an urKlerstsnding of Ihe legal arHJ regulatory framework that are applicable to the charlty
and determlned that the most slgnlfl¢ant are the tr￿1 deed dated 15 December 1999 and those that relat8
to the reportlng framevmrk; A¢counilng and Reportlng by Charitles: Stalement of Recommended Practlc8
appllcable to charlti88 preparlng their accounls In aCcorda￿e wlth thè Flnanclal Reporting Standard
appllcable in the UK and Republic of Ireland (FRS1021 (effectlve 1 January 2019) - (Charitles SORP
{FRS 1021). Charllles Act 2011. Unlted Klngdom Gen8rally Accepted Practlce as It applles from 1
January 2019 and EU General Data Protectlon Regulatlrms (GDPRI as adopted by the UK.
We understood how the charfty was complying wilh Ihe trust deed and those framvlmrks by making
enqulries of the I￿￿tee5.
Based on our understanding of the charty. we designed our audit procedures to Identlfy nonwcomplianr
wllh the tnjst deed and laws and regulation5 Includlng maklng enqulres of the Irustees; testing journal
enlries. wlth a focus on manual, large or unusual transactlons.
We assessed the susceptlbllity of the charlvs flnanclal statements to malerlal mlsstatement. In¢ludlng
how fraud mlght occur, by maklng enqulries of the Irustee5.
We considered the conirols establlshed to addre$8 the rlsks Identlfied, to prevent, deter or delect fraud.
and how Irustees monlt¢X thos8 controls.

THE SHERLING CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE 8HERLING CHARITABLE TRUST
(conllnugd)
Because of the Inherent IlmlLqtlons of an audit. th8r8 is a risk that we will not detect all Irregularltles. including
those18adlng to a material misstat8ment in the financial statements or non-compliance with regulatlon. Thls
risk increases Ihe more that compliance with a law or regulatlon Is removed from the events and transactions
reflecled in the financial statements. as we wlll be less Ilkely to become awar8 of instances of non-compllance.
The risk Is also greater regardlng Iriegularftl8s accufflrvJ du8 to fraud rather than error, as fraud Involves
Intentlonal concealment, forgery, collusion, om1&81on or mlsrepresentstlon.
A fvrther descriptlon of our res￿nsIbIlItIeS for the audlt of the flnancial statements Is located on the Fknanclal
Rew)rting Councll'8 web81te at MvW.frc.￿g.ukIaUdltorSre8p0nSlbl1lIle8. Thls descrlplion forms part of our
audltof s rep¢)TL
USE OF OUR REPORT
Thls report is made solely to the charllys trustees, a8 a body, In aCC￿dance Part 4 of the Charltle8
(Accounts and Reports) Regulations 2008. Our audll work has been undertaken so ihat we mighl state to the
Cha￿ty8 trustees Ihose matter8 we we requlred to state lo them In an auditorfs report and for no other purpoge.
To the fullest extent permitted by law. we do r￿t accept or assume responslblllty to anyone olhar than the
chaflty and the charlty'8 trustees a8 a body, for our audlt work, for th18 report, or for the oplntons we have
fomied.
LL7
Nunn H•yward LLP
Chartered A￿Ountants and Statutory Auditors
24 Packhorse Road
Gerrards Cr088
28 June 2024
Nunn LLP Is ellglble for appolntment a8 audltor of tha ch¥lty by virtue of11$ ellglblllty f¢r appolntment
as audltor of a company under sectk>n 1212 of th8 Companies Act 2006.

THE SHERLING CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Nolo9
INCOME AND DONATIONS
Donatlons
Inveslment Income
525,000
293,687
600,000
284,710
TOTAL INCOME
818,687
884,710
EXPENDITURE
Costs of raislng funds.,
Charftable actlvlties
334,630
265,280
TOTAL EXPENDITURE
334.630
265,280
NET INCOMEI(EXPENDITURE)
484,057
e19,430
Net {1098•8ygalng on Investments
259,385
(256,733)
NEf MOVEMENT IN FUND8
743,442
362,697
Fund balanc•• brought forward
5,719,255
5,356,558
Fund balanc•8 carrled forward
6.462,697
5,719.255
The statèment of financlal actlvttlas Includ•s all galns and lossas recognlsad In the ￿ar.
All Income and expendllure Is derlved from Gonllnulng acllvities.
The notes on pages 11- 15 fomi part of these financial statemants.

THE SHERLING CHARITABLE TRUST
BALANCE SHEEf AS AT 31 MARCH 2024
2024
2023
Note•
FIXED ASSETS
Investments
6,232,283
5.465,648
CURRENT ASSETS
Debtors due wSthln on• year
Cash at bank
3.860
230,334
234,194
12.795
244,592
257,387
CREDITORS .
Amountg falllng du• wlthln ono y•ar
Credttors and accrualg
10
3.780
3.780
NET CURRENT ASSETS
230,414
253,607
NET A8SET8
6,482,697
5,719,255
Unre8trlcted funds:
6,462,697
5,719,255
TOTAL CHARITY FUNDS
6,462,697
5,719.255
Approved by tha board of trustee8 on 28 June 2024and sIgr￿d on It8 behalf by.
C R Sh•rflng
Trustee
Registered charlty number: 1079651
The notas on pages 11- 15 fomi part of these financial slat8m8nts.

THE SHERLING CHARITABLE TRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Not¢s
CASHFLOWS FROM OPERATING ACTIVITIES
Net cash used In operallng actlvltles
190,370
334,900
CASH FLOWS FROM INVESTING ACTNrriES
Dividends and Interest recelved nel of charges
Investments at cost
Sales proceeds
302.622
(2,907.250)
2,400,000
275.232
(751,875)
250,000
Net cash oufflow from inve8tin9 activltles
204,628
226,643
INCREASEI(DECREASE) IN CASH AND CASH EQUIVALENTS
(14.258)
108,257
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE YEAR
244,592
136,335
CASH AND CASH EQUIVALENTS AT THE END
OF THE YEAR
230.334
244,592

THE SHERLING CHARrrA8LE TRUST
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
RECONCILIATION OF NET INCOMEI{EXPENDITUREI TO
NET CASH FLOWS FROM OPERATING ACTIVITIES
Net movement In Incomel(expendlture) for the yBar
(as per the stalement of financial adlvStle8)
743,442
362,697
AdJustm•nts for..
Investment Incomè
Lossesl(galns) on Investments
(293,687)
(259,385)
(284,710)
256,733
Mov•m•nts In worklng Capftal
(Increase) In debtors
Increase In credltor8
180
Net cash provldad by operatlng actlvitle8
190,370
334,900
ANALYS18 OF CASH AND CASH EQUIVALENT8
2024
2023
Current account
Deposlt account
Total cash at bank
342
229.992
692
243,900
230,334
244,592
10

THE SHERLING CHARITABLE TRUST
NOTES TO THE FINANCIAL sTATEmE￿rs FOR THE YEAR ENDED 31 MARCH 2024
STATUTORY INFORMATION
The Sherllng Charltable Trust Is a reglstered charity (number 1079651) constituted under deed of
trust. domlciled in the UK and is a public beneflt enllty. Tha prlnclpal offlcè Is Llncoln House.
Woodside Hill. Chalfont st Peter. Buckinghamshire, SL9 9TF.
The aCc￿jnts are wesented In £ Starling and rounded to Ihe n8are5l £1.
STATEMENT OF ACCOUNTING POLICIES
The accounting policies adopted, Judgements and key sources of 8sllmatlon uncertalnty In the
preparation of the financial statements are as follows..
Bas18 of proparatlon
The finandal statements have been prepared In accordance wlth Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charltles preparlng ihelr accounts In
accordance wlth the Flnanclal Reportlng Standard appllcabl8 In lh8 UK and Republic of Ireland
(FRS102) (effectlve 1 January 2019) - (Charltles SORP (FRS 102)), ChaTiti8s Act 2011 and
United Kingdom Generally Accepted Practice as11 applles from 1 January 2019.
Tha Sherfing Charitable TTU81 meets the definlllon ol a publlc bon•fit antlty under FRS 102.
A$$ets and Ilabllltles are Inltlally recognlsed al hlstorlcal cost or tran8actlon value unless
otherwlse statsd In the relevanl accountlng pollcy I￿le(s).
These Ilnan¢lal Statements are prepared In accordance wlth appllcable chawity law.
Incom•
All Incoming resources are recognised once the charlty has entlttement to the resources, It 18
certaln that the resource will be racaivad and the monetary valu• can be moa$ured wlth sufflclent
rellablllty.
Donallons and any related glft ald are recognlsed when recelvable.
2,3
Expondltur•
Llabllltles ar• r•cognlsed as re$ourc•s axponded 88 soon a8 thefe 18 a legal or ¢on8tructlve
obllgatlon commlttlng Ihe charlty to Ihe expendllure. All expendllure Is accounted for on an
accruals basls.
Portlolio management costs represents the charges rnade by the Investment manager8.
Charftable activilles are granls made to third parties in the furtherance of the ¢harllable oblectlves
of the trust,
Govemance co$t$ comprlsé expendlturn Incurred for constitutional and siatutory requlrements
and are Included withln 8xpendllure on charitabl8 actlvltles.
Flxod and curr•nl a88Ot In￿8(m•nt•
Marketable Invesiment assets are Included In the finandal statement8 at thelr values, either at
closlng market prIc￿S (Ilsted Investments) or from valuations provided by the Investment manager.
Funds
The charitys funds are for the Charitys gen•Tal purpogé wlthout restrlctlon.
11

THE SHERLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMEKf8 FOR THE YEAR ENDED 31 MARCH 2024
(contlnu•d)
Taxatlon
The tmst Is a reglsterad charity and, therefore, is not liable for income tax or corporallon lax on
Income derived fri)m its charitable activities. as It falls wllhln the varfous exenwtlons available to
reglstered charltles If applled for charltable purposes.
Flnanclal In8trum•nts
The charty t)nly has Ilnanclal assets and Ilabllltles of a klnd that qualifies as basic flnanclal
Instruments, Baslc flnancial Instruments are Inltlally re¢ogn1$6d at transactlon value and
subsequently measured at amortlsed costs uslng the effectiv8 interest m6tlK)d. Flnanclal assets
held at amortised cost comprl8e cash at bank and other debtOTS. Flnandal Ilablllttes held at
amort18ed cost compri8e other credltors.
Inveslmonts, Indudlng equlty Ilnked notes held as part of an Investment portfollo. are held al falr
value at the balance sheet dato. wlth galns and losses b8lng r8cognised wlthln Income and
éxpendltur8.
Cuh •nd ca•h •qulval•nts
Cash and ¢ash equlvalent8 comprlsa cash in hand, current and deposlt account8 held at ihe
bank.
Cash and eash équlvalent8 hekl by Inv&8tment managers are Included wlthln Investrnents.
2.9
Judg•m•nts and •8tlmatlon
Prèparatl¢Jn of the flnanclal statements requlres management to make Judgemgnts. estimates and
a$sumptlons about the carrylng value of assets and IlabSlbtle$ that are not ieadlly apparent from
other sources, The estlmat88 and underlylng a8sunwtion8 are based on hlstorlcal axperlon¢e and
other factor8 that are con81dered to b8 mlovant. Actual reiultg may dlffar from these esb'mata8.
The estlmateg and underfylng assumptlon8 are revlewed on an on-golng basis. Rev5slon# to
accounllng estlmates aro recognlsed in the perlod In whl¢h tho •stlmat& Is r6vl88d If th& fevision
affect8 only Ihat perlod or In the perl¢)d of Ihe revlslon arml future ￿rIodS If the revlslon affects tho
cufrent and future perfod8. There were no key sources of estlmatlon uncertalnty In the yaar.
2.10
Qolng concorn
The trustees belleve Ihe chaflty has suffldent assets to 8nable 11 to continu8 as 8 golng concem
for a perlod of at least twelve monlhs from the date of approval of the8e financlal elaternents.
12

THE SHERLING CHARITABLE TRUST
NOTES TO TrIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
(contlnuod)
INCOME
2024
2023
Donallons
Donations
Gift ald
420,000
105.000
480,000
120,000
525,000
600,OC
2024
2023
In￿sIMOnt Income
Dlvldends and Inlere$t on Investménis (net of chargas)
Bank interest received
275,759
17,928
277.695
7.015
293.887
284,710
CHARITABLE ACTivrrie8
Grants pald to Insututlons
Chlltem Nwro C•ntr•
Chesham Grammar School
Chlltem Open Air Mu88um
Lla's Wlngs
DENS
Hammersmith & Fulham Food Bank
Heart of Bucks
FrlendA ol Llbety Woodland School
LorKlon Hearts
Autlsm Unllmtted
Big Give Trust Re Pakistan DEC Appeal
Chalfont Pawk Sports Assoc
Hosplce of St Francls
st Johns Ambulanc8
Thaffle8 Valley Alr Ambulance
Dor88t & Somerset Air Ambulance
Mar18 Curle Foundatlon
Zoologlcal Society of London
Health Bu$
Canlne Partner8
Spear
Dealbllnd
Independent Age
Amersham and Chalfont Hockey dub
Crackerjacks Children Trust
2024
2023
95,000
50,000
40.000
25.000
20,000
20.000
10,000
16,000
14,000
85.000
20,000
20.000
20.000
20,000
14,000
10,000
10,000
10,000
10,000
10.000
10,000
10,000
10,000
10,000
10,000
10.000
4.000
9.000
7,500
2,000
2,000
2,000
2.000
2,000
2,000
850
Total grants
Support and govemance costs
Total charStable actlvlties
330.850
261,500
3.780
3,780
334.630
265.280
All of the above are grants to registered charities glven In furtherance of the charlty's oblects.
SUPPORT AND GOVERNANCE COSTS
2024
2023
Audltorfs r8muneration
3,780
3,780
3.780
3.780
13

THE SHERLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
(contlnuad)
ANALYSIS OF TOTAL STAFFING COSTS
There were no •mploye88. Tha tMst888 manage all of th8 affairs of Ihe Cha￿ty.
No r8muneratlon or expenses were pald lo or provlded for In respect of the Irustees lor Ihe year ended
31 March 2024 nor for the year ended 31 March 2023.
INVESTMENTS - LISTED
Equlty
Llnkod
Not••
Rathbonè
Portlollo
Total
As at 1 April 2023
2,973,758 2,491,890
5,465,648
Addltlons at cost
2,907,250
2.907.250
Revaluatlons
185,775
73,810
259,385
Dlsposals at rna￿8t value
(2,400,000) (2,400.0001
al 31 March 2024
3,169,633 3,072,760
6,232,283
F•lr v•lu•
At 31 March 2024
6,232,283
At 31 March 2023
5,485,648
Mat•rl•l Inv•8tm•nt• - ov•r 6%
2024
2023
Ov•r••a•
SPDR Series Trust S&P 500 ETF
5.70
355,103
S.14
281.104
UK
Equlty Llnked Stwctured Nole8
49.30
3,072,750
45.59
2,491,890
All Investments held by charity have boen acqulred In accordance with the powers avallable to th8
trustees, Malerlal Investments are consldered to bo any indlvldual InV￿tment which reprasents 5% or
more of the total portlollo valuatlon.
DE8TOR3
2024
2023
Investment Income receivable
3.860
12,795
3.860
12,795
14

THE SHERLING CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
{conllnued)
CASH AT BANK
2024
2023
Bank deposlt account
Bank current account
229,992
342
243.900
692
Cash at bank
230.334
244,592
10 CREDITORS - AMOUNT8 FALLING
DUE wrrHIN ONE YEAR
2024
2023
Other creditors
3.780
3,780
3,780
3.780
11
FINANCIAL INSTRUMENTS
2024
2023
FlnancSal assets measured at amorti8ed ￿$t
234,195
257,387
Flnandal assets at falr value through the Income and
&xpendltuM account.
6,232.283
5,465,648
6,466,478
5,723.035
Flnanclal Ilabllltleg measured at amortl$ed ¢o$t
3,780
3,780
12 FINANCIAL COMMITMENTS
At the balance sheet date, the charlty had uncondltlonal commltmenls to make charitable grants as
follows:
2024
2023
Wlthln one year
1-2yeaTs
2-5years
13.000
3,000
16.000
At the balance sheet dalo, the charlty had condltlonal commltments to make charltable grants lotalling Nil
(2023: £16,000)
13
EVENTS AFTER THE REPORTING DATE
There have been no significant events since the balance sheet date.
14
RELATED PARTY
Donations received from trusl8es in Ihè ￿ar amounted lo £420,000 (2023: £480.WOI
15