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2022-12-31-accounts

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

FORTHE YEAR E NDED 31DECE MBER2022
2022 2021
Unrestricted Restricted Total Total
fuilds funds funds funds
Notes
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 96,945 96,945 1,886,827
Charitable
activities
Income from charitable activities 16,421 16,421 13,398
Investment
income		 221,844 153,081 374,925 313,725
Other income 1,596 1,596 9,177
Total 336,806 153,081 489,887 2,223,127
EXPENDITURE ON
Raising funds 28,052 28,434 56,486 41,601
Charitable
activities
Grant funding ofactivities 15,009 195,490 210,499 82,694
Support costs 20,634 720 21,354 20,708
Activities
undertaken
directly		 441,550 384 441,934 443,668
Governance
costs		 15,520 15,520 11,489
Total 520,765 225,028 745,793 600,160
Net gains/(losses)
on investments		 (745,755) (778,354) (1,524,109) 1,108,250
NET INCOME/(EXPENDITURE) (929,714) (850,301) (1,780,015) 2,731,217
Transfers
between
funds		 (3,470) 3,470
Net movement
in funds		 (933,184) (846,831) (1,780,015) 2,731,2]7
RECONCILIATION OF FUNDS
Total funds brought forward 10,052,403 5,776,251 15,828,654 13,097,437
TOTAL FUNDS CARRIED FORWARD 9,119,219 4,929,420 14,048,639 15,828,654

BALANCE SHEET
31DECEMBER 2022
2022 2021
Notes E
FIXEDASSETS
Tangible assets 16 1,566,014 1,341,176
Investments
Investments 17 9,290,952 11,435,996
Investment
property		 18 2,900,002 2,900,002
13,756,968 15,677,174
CURRENT ASSETS
Debtors 19 20,915 48,065
Cash at bank and in hand 316,374 156,210
337,289 204,275
CREDITORS
Amounts
falling due within one year		 20 (45,618) (50,795)
NET CURRENT ASSETS 291,671 153,480
TOTAL ASSETSLESSCURRENT
LIABILITIES 14,048,639 15,830,654
PENSION LIABILITY 23 (2,000)
NET ASSETS 14,048,639 15,828,654
FUNDS
Unrestricted
funds		 9,119,218 10,052,403
Restricted funds 4,929,421 5,776,251
TOTAL FUNDS 14,048,639 15,828,654

2022 2021
Notes
Cash flows from operating
activities
Cash generated
&om operations		 (454,754) (219,553)
Net cash used in operating activities (454,754) (219,553)
Cash flows from investing activities
Purchase oftangible fixed assets (305,608) (680)
Purchase offixed asset investments (1,724,154) (1,716,321)
Sale offixed asset investments 2,345,089 1,523,850
Dividend
income		 298,441 238,623
Interest received 1,150 79
Net cash provided
by investing
activities		 614,918 45,551
Change in cash and cash equivalents in
the reporting
period		 160,164 (174,002)
Cash and cash equivalents at the
beginning
ofthe reporting		 period 156,210 330,212
Cash and cash equivalents at the end of
the reporting
period		 316,374 156,210

OPERATING ACTIVITIES
2022 2021
Net (expenditure)/income
for the reporting		 period (as per the
Statement ofFinancial Activities) (1,780,015) 2,731,217
Adjustments
for:
Depreciation
charges		 80,770 75,812
Losses/(gain)
on investments		 1,524,109 (1,108,250 )
Interest received (1,150) (79)
Dividends
and rents received		 (298,441) (238,623)
Transfer ofSSM(SA) donation (1,653,820)
Decrease/(increase)
in debtors		 27,150 (25,451)
(Decrease)/increase
in creditors		 (5,177) 1,641
Difference between
pension charge and cash		 contributions (2,000) (2,000)
Net cash used in operations (454,754) (219,553)

ANALYSIS OFCHANGES IN NET FUND S
At 1.1.22 Cash flow At 31.12.22
Net cash
Cash at bank and in hand 156,210 160,164 316,374
156,210 160,164 316,374
Total 156,210 160,164 316,374

DONATIONS
AND LEGACIES
2022 2021
Donations 90,441 1,881,827
Legacies 6,504 5,000
96,945 1,886,827

INVESTMENT INCO ME
2022 2021
Income from investment properties 75,334 75,023
Dividend
income		 298,441 238,623
Bank interest 1,150 79
374,925 313,725
INCOME FROM CHARITABLE ACTIVITIES
2022 2021
Income from guests and residents 16,421 13,398
16,421 13,398
All income in the above years was unrestricted.
OTHER INCOME
2022 2021
Royalties 99
Sundry Income 726 8,438
Room hire 870 640
1,596 9,177

2022 2021
General fund 28,052 18,382
Kelham College fund 19,404 21,082
Southern A&ica fund 9,030 2,137
56,486 41,601

Grant
funding of
Direct activities Support
Costs (see (see note costs (see
note 9) 10) note 11) Totals
Grant funding ofactivities 210,499 210,499
Support costs 21,354 21,354
Activities undertaken directly 441,934 441,934
Governance costs 15,520 15,520
441,934 210,499 36,874 689,307
9. DIRECT COSTS OFCHARITABLE ACTIVITIES
2022 2021
Staffcosts 144,509 117,953
Depreciation 80,770 75,812
Community costs 203,170 232,607
Travel and transport 1,191 465
Furniture
and		 equipment 983 9,223
Publicity 105 748
Administration 11,206 6,860
441,934 443,668
10. GRANTS PAYABLE
2022 2021
Grant funding ofactivities 210,499 82,694

2022 2021
Trustees' expenses 545 1,309
Bank charges 721 762
Auditor's
remuneration		 10,500 11,489
Legal and professional 15,430 9,213
Accountancy
and payroll		 9,678 9,424
36,874 32,197
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2022 2021
Depreciation
-owned assets		 80,770 75,812

2022 2021
Wages and salaries 128,503 105,801
Social security costs 4,781 2,784
Contributions to defined contribution pension schemes 11,225 9,368
144,509 117,953

2022 2021
7 7

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER2022		 NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER2022		 NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER2022
15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 105,381 1,781,446 1,886,827
Charitable
activities
Income from charitable activities 13,398 13,398
Investment
income		 210,796 102,929 313,725
Other income 9,177 9,177
Total 338,752 1,884,375 2,223,127
EXPENDITURE ON
Raising funds 18,382 23,219 41,601
Charitable
activities
Grant funding ofactivities 23,404 59,290 82,694
Support costs 20,708 20,708
Activities
undertaken		 directly 443,668 443,668
Governance
costs		 11,489 11,489
Total 517,651 82,509 600,160
Net gains on investments 564,140 544,110 1,108,250
NET INCOME 385,241 2,345,976 2,731,217
RECONCILIATION OF FUNDS
Total funds brought forward 9,667,162 3,430,275 13,097,437
TOTAL FUNDS CARRIED FORWARD 10,052,403 5,776,251 15,828,654

TANGIBLE FIXEDASSETS
Freehold Building Equipment
property improvements gc furnishings Totals
COST
At 1 January 2022 1,131,173 511,405 21,903 1,664,481
Additions 300,120 5,488 305,608
At 31December 2022 1,131,173 811,525 27,391 1,970,089
DEPRECIATION
At 1 January 2022 198,347 115,665 9,293 323,305
Charge for year 20,357 55,865 4,548 80,770
At 31December 2022 218,704 171,530 13,841 404,075
NET BOOK VALUE
At 31December 2022 912,469 639,995 13,550 1,566,014
At 31December 2021 932,826 395,740 12,610 1,341,176

Listed
investments
MARKET VALUE
At 1 January 2022 11,435,996
Additions 1,724,154
Disposals (2,091,884)
Revaluations (1,777,314)
At 31December 2022 9,290,952
NET BOOK VALUE
At 31December 2022 9,290,952
At 31December 2021 11,435,996
There were no investment assets outside ofthe UK.
Cost or valuation
at 31December 2022 is represented		 by:
Listed
investments
Valuation
in 2022		 9,290,952

FAIRVALUE
At I January 2022
and 31December 2022 2,900,002
NET BOOK VALUE
At 31December 2022 2,900,002
At 31December 2021 2,900,002

DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
Trade debtors 13,539 31,500
Prepayments
and accrued income		 7,376 16,565
20,915 48,065
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
Trade creditors 5,805 2,086
Social security and other taxes 2,396 1,713
Other creditors 153 190
Accruals and deferred income 37,264 46,806
45,618 50,795

ANALYSIS OFNET ASSETS BETWEEN FUNDS
2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
Fixed assets 1,566,014 1,566,014 1,341,176
Investments 7,261,533 4,929,421 12,190,954 14,335,998
Current assets 337,289 337,289 204,275
Current liabilities (45,618) (45,618) (50,795)
Pension liability (2,000)
9,119,218 4,929,421 14,048,639 15,828,654

MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.22
Unrestricted
funds
General fund 8,052,403 (929,715) (3,470) 7,119,218
Care ofthe elderly 2,000,000 2,000,000
10,052,403 (929,715) (3,470) 9,119,218
Restricted funds
Kelham College fund 3,902,170 (545,251) 3,470 3,360,389
Durham
fund		 18,606 (1,104) 17,502
Southern A&ica fund 1,855,475 (303,945) 1,551,530
5„776,251 (850,300) 3,470 4,929,421
TOTAL FUNDS 15,828,654 (1,780,015) 14,048,639
Net movement
in funds, included		 in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted
funds
General fund 336,806 (520,766) (745,755) (929,715)
Restricted
funds
Kelham College fund 104,650 (118,123) (531,778) (545,251)
Durham
fund		 (1,104) (1,104)
Southern Africa fund 48,431 (105,800) (246,576) (303,945)
153,081 (225,027) (778,354) (850,300)
TOTAL FUNDS 489,887 (745,793) (1,524,109) (1,780,015)
Comparatives
for movement		 in funds
Net
movement At
At 1.1.21 in funds 31.12.21
Unrestricted
funds
General fund 7,667,162 385,241 8,052,403
Care ofthe elderly 2,000,000 2,000,000
9,667,162 385,241 10,052,403
Restricted
funds
Kelham College fund 3,408,196 493,974 3,902,170
Durham
fund		 22,079 (3,473) 18,606
Southern A&ica fund 1,855,475 1,855,475
3,430,275 2,345,976 5,776,251
TOTAL FUNDS 13,097,437 2,731,217 15,828,654

Incoming Resources Gains and Movement
resources expended losses in funds
E
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 (3,473) (3,473)
Southern Airica fund 1,792,622 (15,193) 78,046 1,855,475
1,884,375 (82,509) 544,110 2,345,976
TOTAL FUNDS 2,223,127 (600,160) 1,108,250 2,731,217
Net Transfers
movement between At
At 1.1.21 in funds funds 31.12,22
Unrestricted
funds
General fund 7,667,162 (544,474) (3,470) 7,119,218
Care ofthe elderly 2,000,000 2,000,000
9,667,162 (544,474) (3,470) 9,119,218
Restricted
funds
Kelham College fund 3,408,196 (51,277) 3,470 3,360,389
Durham fund 22,079 (4,577) 17,502
Southern Africa fund 1„551,530 1,551,530
3,430,275 1,495,676 3,470 4,929,421
TOTAL FUNDS 13,097,437 951,202 14,048,639
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted
funds
General fund 675,558 (1,038,417) (181,615) (544,474)
Restricted funds
Kelham College fund 196,403 (181,966) (65,714) (51,277)
Durham fund (4,577) (4,577)
Southern A&ica fund 1,841,053 (120„993) (168,530) 1,551,530
2,037,456 (307,536) (234,244) 1,495,676
TOTAL FUNDS 2,713,014 (1,345,953) (415,859) 951,202

2022 2021
Balance sheet liability at I January 2,000 4„000
Deficit contributions
paid		 (1,000) (2,000)
Interest cost (recognised in SoFA)
Remaining
change to the		 balance sheet liability*(recognised in SoFA) (1,000)
Balance sheet liability at 31December 2,000
December 2022 December 2021 December 2020
Discount rate N/A 0.0%pa 0.2%pa
Price inflation N/A N/A 3.1%pa
Increase to total pensionable payroll N/A -1.5%pa 1.6%pa

2022 2021
Financial assets
Financial assets measured at fair value through income and expenditure 12,190,954 14,335,998
12,190,954 14,335,998