## ## ## |||Page|Page| |---|---|---|---| |Report ofthe Trustees|1|to|5| |Report ofthe Independent
Auditors|6|to|8| |Statement ofFinancial Activities|||| |Balance Sheet||10|| |Cash Flow Statement|||| |Notes to the Cash Flow Statement||12|| |Notes to the Financial Statements|13|to|26| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2021|2020| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Total| |||Notes|funds
I|funds
6|funds|funds| |INCOME AND ENDOWMENTS FROM||||||| |Donations
and legacies||3|105,381|1,781,446|1,886,827|92,435| |Charitable
activities||5||||| |Income I'rom charitable|activities||13,398||13,398|18,587| |Investment
income||4|210,796|102,929|313,725|336,029| |Other income||6|9177||9 177|8 822| |Total|||338,752|1,884,375|2,223,127|455,873| |EXPENDITURE ON||||||| |Raising funds|||18,382|23,219|41,601|49,542| |Charitable
activities||||||| |Grant funding ofactivities|||23,404|59,290|82,694|79,590| |Supportcosts|||20,708||20,708|42,273| |Activities undertaken
directly|||443,668||443,668|422,791| |Governance
costs|||11,489||11,489|6,219| |Total|||517,651|82,509|600,160|600,415| |Net gains/(losses)
on investments|||564 140|544,110|1108250|~474333| |NET INCOME/(EXPENDITURE)|||385,241|2,345,976|2,731,217|(618,875)| |RECONCILIATION OFFUNDS||||||| |Total funds brought forward|||9,667,162|3,430,275|13,097,437|13,716,312| |TOTAL FUNDS CARRIED FORWARD|||10052,4D3|5 776251|15828 654|13,D97437| ## ||BALANCE SHEET||| |---|---|---|---| ||31DECEMBER2021||| |||2021|2020| ||Notes|f.|| |FIXEDASSETS|||| |Tangible assets|15|1,341,176|1,416,308| |Investments|||| |Investments|16|11,435,996|8,356,455| |Investment
property|17|2 90D DD2|3,025 002| |||15,677,174|12,797,765| |CURRENT ASSETS|||| |Debtors|18|48,065|22,614| |Cash at bank and in hand||156,210|330,212| |||204 275|352 826| |CREDITORS|||| |Amounts
falling due within one year|19|(50,795)|(49,154)| |NET CURRENT ASSETS||153480|303 672| |TOTAL ASSETSLESSCURRENT|||| |LIABILITIES||15,830,654|13,101,437| |PENSION LIABILITY|22|(2,000)|(4,000)| |NET ASSETS||158211654|131197437| |FUNDS|21||| |Unrestricted
funds||10,052,403|9,667,162| |Restricted funds||5776251|3430275| |TOTAL FUNDS||15828654|13097437| ## ||FO|R|THE YEAREND|ED 31DECEMBER 2021|| |---|---|---|---|---|---| |||||2021|2020| ||||Notes|E|| |Cash flows from operating
activities|||||| |Cash generated
from operations||||219553|487839| |Net cash used in operating|activities|||219553|~487839)| |Cash flows from investing|activities||||| |Purchase oftangible fixed assets
Purchase offixed asset investments
Saleoftangible fixed assets
Saleoffixed asset investments||||(680)
(1,716,321)
1,523,850|(170,657)
(5,175,481)
20,400
4,884,745| |Dividend
income||||238,623|275,326| |Interest received||||79|356| |Net cash provided
by/(used|in) investing||activities|~45551|~163311| |Cash flows from financing|activities||||| |Capital repayments
in year|||||10662| |Net cash provided
by/(used|in) financing||activities||10662| |Change in cash and cash equivalents||in|||| |the reporting period||||(174,002)|(663,812)| |Cash and cash equivalents|at the||||| |beginning ofthe reporting|period|||~330212|~994024| |Cash and cash equivalents|at the end|of|||| |the reporting
period||||~156210|~330 212| ## ## |RECONCILIATION
OFNET INCOME/(
OPERATING ACTIVITIES|EXPENDITURE)
TONE|T CASH FLOW FRO|M| |---|---|---|---| |||2021|2020| |||f.|| |Net income/(expenditure)
for the reporting|period (asper the||| |Statement ofFinancial Activities)||2,731,217|(618,875)| |Adjustments
for:|||| |Depreciation
charges||75,812|67,091| |(Gain)/losses
on investments||(1,108,250)|474,333| |Profit on disposal offixed assets|||(3,845)| |Interest received||(79)|(356)| |Dividends
and rents received||(238,623)|(275,326)| |Movement
in SSM(SA)investments|||(91,861)| |Transfer ofSSM(SA) donation||(1,653,820)|| |Increase in debtors||(25,451)|(12,243)| |Increase/(decrease)
in creditors
Difference between pension charge and cash|contributions|1,641
~2000|(24,757)
~2000| |Net cash used in operations||~219553)|~487839)| ## ## ||At 1.1.21|Cash flow|At 31.12.21| |---|---|---|---| |Net cash|||| |Cash at bank and in hand|330212|~174002|156210| ||~330212|~174,002|~156210| |Total|~330212|~174002|~156210| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Grant||| |---|---|---|---|---|---|---| |||||funding of||| ||||Direct|activities|Support|| ||||Costs (see|(seenote|costs (see|| ||||note 8)|9)|note 10)|Totals| ||Grant funding ofactivities|||82,694||82,694| ||Support costs||||20,708|20,708| ||Activities undertaken|directly|443,668|||443,668| ||Governance
costs||||~11489|11,489| ||||~443 668|~82 694|~32 197|~558 559| |8.|DIRECT COSTSOF|CHARITABLE|ACTIVITIES|||| |||||||2020| ||||||2021|| |||||||f| ||Staffcosts||||117,953|135,211| ||Depreciation||||75,812|67,091| ||Community
costs||||232,607|210,491| ||Travel and transport||||465|1,238| ||Furniture
and equipment||||9,223|1,254| ||Publicity||||748|346| ||Administration||||6,860|11,005| ||Profit on disposal offixed assets|||||~3845| ||||||443 668|422 791| |9.|GRANTS PAYABLE|||||| ||||||2021f|2020| ||Grant funding ofactivities||||~82 694|~79 590| |10.|SUPPORT COSTS|||||| |||||||2020| ||||||2021|f| ||Trustees' expenses||||1,309|2,067| ||Bank charges||||762|745| ||Auditor's
remuneration||||11,489|6,219| ||Legal and professional
Accountancy
and payroll||||9,213
~9424|34,276
~5185| ||||||~32 197|~48 492| ## ## ## ## |||||2020| |---|---|---|---|---| ||||2021|| |||||f| |Wages and salaries|||105,801|124,887| |Social security
Contributions|costs
to defined contribution|pension schemes|2,784
~9368|2,490
~7834| ||||117,953|135,211| ||||2021|2020| |---|---|---|---|---| |Employees|||7|7| |No employees|received emoluments|in excess off60,000.||| ## ## ||NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEARENDED 31DECEMBER2021|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEARENDED 31DECEMBER2021|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEARENDED 31DECEMBER2021|| |---|---|---|---|---| |14.|COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES|||| |||Unrestricted|Restricted|Total| |||funds|funds
f|funds| ||INCOME AND ENDOWMENTS FROM|||| ||Donations
and legacies|92,435||92,435| ||Charitable
activities|||| ||Income fmm charitable
activities|18,587||18,587| ||Investment
income|236,189|99,840|336,029| ||Other income|8 822||8 822| ||Total|356,033|99,840|455,873| ||EXPENDITURE ON|||| ||Raising funds|36,769|12,773|49,542| ||Charitable
activities|||| ||Count funding ofactivities|30,200|49,390|79,590| ||Support costs|42,273||42,273| ||Activities undertaken
directly|422,791||422,791| ||Governance
costs|6,219||6,219| ||Total|538,252|62,163|600,415| ||Net gains/(tosses)
on investments|~303,082|~373231|~474333| ||NET INCOME/(EXPENDITURE)|(485,301)|(133,574)|(618,875)| ||RECONCILIATION
OFFUNDS|||| ||Total funds brought forward|10,152,463|3,563,849|13,716,312| ||TOTAL FUNDS CARRIED FORWARD|9667 162|3,430.273|13097437| ## ## ## |TANGIBLE FIXEDASSETS||||| |---|---|---|---|---| ||Freehold|Building|Equipment|| ||property|improvements|&furnishings
I|Totals| |COST||||| |At 1 January 2021|1,131,173|511,405|21,223|1,663,801| |Additions|||680|680| |At 31December 2021|~1,131173|~511405|21,903|~1664481| |DEPRECIATION||||| |At 1 January 2021
Charge for year|177,990
~20357|64,524
~51141|4,979
~4314|247,493
~75 812| |At 31December 2021|~198347|115,665|~9293|~323 305| |NET BOOKVALUE
At 31December 2021|932,826|~395 740|~12610|~1341176| |At 31December 2020|~953 183|~446 881|~16244|~1416308| ## |||||Listedinves| |---|---|---|---|---| |||||tments| |||||6| |MARKET VALUE||||| |At 1 January 2021||||8,356,455| |Held for SSM(SA) as at||1 January 2021||1653820| |||||10,010,275| |Additions||||1,716,321| |Disposals||||(1,498,888)| |Revaluations||||1208,288| |At 31December|2021|||11435996| |NET BOOKVALUE||||| |At 31December|2021|||11435 996| |At 31December|2020|||8,356,455| |Held for SSM(SA) at 31||December 2020||1653 820| |||||10,010275| |There were no investment||assets outside ofthe UK.||| |Cost or valuation|at 31December 2021 is represented||by:|| |||||investments| |||||8| |Valuation
in 2021||||11.435 996| Pa8e 20 ¢ontinuul... ## ## ## ## |DEBTORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR||| |---|---|---|---| |||2021|2020| |||f.|| |Trade debtors||31,500|13,500| |Prepayments|and accrued income|~16565|~9114| |||48,065|~22 614| |CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||| |||2021|2020| |||f.|| |Trade creditors||2,086|8,091| |Social security|and other taxes|1,713|1,304| |Other creditors||190|91| |Accruals and deferred income||~46 806|~39668| |||~50 795|~49 154| ## ## |ANALYSIS OFNET ASSET|SBETWEEN FUNDS|||| |---|---|---|---|---| ||||2021|2020| ||Unrestricted|Restricted|Total|Total| ||funds|fundsf|funds
f|fundsf| |Fixed assets|1,341,176||1,341,176|1,416,308| |Investments|8,559,747|5,776,251|14,335,998|11,381,457| |Current assets
Current liabilities
Pension liability|204,275
(50,795)
~2000)||204,275
(50,795)
~2000|352,826
(49,154)
~4.0003| ||10052403|577625I|I5 828654|33097437| ## ## ## |MOVE|MENT IN FUNDS|||| |---|---|---|---|---| ||||Net|| ||||movement|At| |||At 1.1.21|in funds|31.12.21| |||||f| |Unrestricted
funds||||| |General fund
Care ofthe elderly||7,667,162
2000000|385,241|8,052,403
2000 000| |Restricted funds||9,667,162|385,241|10,052,403| |Kelham|College fund|3,408,196|493,974|3,902,170| |Durham
Southern|fund
Africa fund|22,079|(3,473)
1,855475|18,606
11155475| |||3430275|2345976|5776251| |TOTAL|FUNDS|13097437|2731217|15 828 654| |||Incoming|Resources||Gains and|Movement| |---|---|---|---|---|---|---| |||resources
f|expended||losses|in funds| |Unrestricted
funds||||||| |General fund||338,752|(517,651)||564,140|385,241| |Restricted funds||||||| |Kelham College fund||91,753|(63,843)||466,064|493,974| |Durham
fund
Southern Ahica fund||~1792622|(3,473)
~15193||78 046|(3,473)
~1855,475| |||1 884375|~82509||544 110|2345976| |TOTAL FUNDS||2 223 127|~600 160||I 108250|2 731217| |Comparatives
for movement|in funds|||||| ||||Net||Transfers|| ||||movement||between|At| |||At 1.1.20
f|in funds
f||funds|31.12.20| |Unrestricted
funds||||||| |General fund
Care ofthe elderly||6,152,463
4000000|(485,301)|2,000,000
~2000 000||7,667,162
2000000| |Restricted funds||10,152,463|(485,301)|||9,667,162| |Kelham College fund||3,541,770|(133,574)|||3,408,196| |Durham
fund||22 079||||22 079| |||3 563 849|~133574|||3 430275| |TOTAL FUNDS||13 716312|~618.875|||13097437| ## ## ## ## ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||f.|||| |Unrestricted
funds||||| |General fund|356,033|(538,252)|(303,082)|(485,301)| |Restricted funds||||| |Kelham College fund|99,840|(62,163)|(171,251)|(133,574)| |TOTAL FUNDS|~455 873|~600415)|~474333|~618875)| ||||Net|Transfers|| |---|---|---|---|---|---| ||||movement|between|At| |||At 1.1.20|in funds|funds|31.12.21| ||||6|6|| |Unrestricted
funds|||||| |General fund
Care ofthe elderly||6,152,463
4000000|(100,060)|2,000,000
~2000 0003|8,052,403
2000 000| |||10,152,463|(100,060)||10,052,403| |Restricted funds|||||| |Kelham|College fund|3,541,770|360,400||3,902,170| |Durham|fund|22,079|(3,473)||18,606| |Southern|Africa fund||1,855475||1855475| |||3563849|2212402||5 776251| |TOTAL|FUNDS|13.716 312|2 112342||15828 654| |||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---| |||resources
f.|expended|losses|in funds
f| |Unrestricted
funds|||||| |General|fund|694,785|(1,055,903)|261,058|(100,060)| |Restricted funds|||||| |Kelham|College fund|191,593|(126,006)|294,813|360,400| |Durham
Southern|fund
Africa fund|1,792,622|(3,473)
~15193)|78,046|(3,473)
~1,855475| |||~1984215|~344 672|372 850|2212,402| |TOTAL|FUNDS|2679,000|~1,200575)|633917|2,112342| ## ## ## ## ## ## ## ## ## ## ## |Section 28.11A of FRS102 requires|Section 28.11A of FRS102 requires|agreed|deficit recovery|deficit recovery|payments|to be recognised|as a liability.
The|as a liability.
The| |---|---|---|---|---|---|---|---|---| |movement
in the balance|sheet liability|over 2020 and over||2021 is set out||in the table below.||| |||||||2021||2020| |Balance sheet liability at|1 January|||||4,000||6,000| |Deficit contributions
paid||||||(2,000)||(3,000)| |Interest cost (recognised|in SoFA)|||||||| |Remaining
change tothe|balance sheet|liability*(recognised||in|SoFA)|||1,000| |Balance sheet liability at|31December|||||2,000||4,000| |||December 2021|December 2020|December 2019| |---|---|---|---|---| |Discount rate||0.0'/o|0.2'/v pa|1.1'io pa| |Price inflation
Increase to total pensionable|payroll|n/a'/o
-1.5'/o|3.1/o pa
1.6~/o pa|2.8~/o pa
1.3copa| ## ## ## |Financial|assets|||||||||2021
f.|2020
f| |---|---|---|---|---|---|---|---|---|---|---|---| |Financial|assets|measured|at|fair|value|through|income|and|expenditure|14335998|11381457| |||||||||||14335998|11381457| ##