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2022-03-31-accounts

SECllON 1 Reference and Administrative
Details		 page 1
SECTION 2 Board ofTrustees'
Report and Operating
and Financial Review		 pages 2-5
SECTION 3 Statement ofBoard ofTrustees on internal
financial		 control page 6
SECllON 4 Statement ofBoard ofTrustees'
responsibilities		 page 7
SECTION 5 Independent auditor's
report to the Board ofTrustees		 ofSherbum House Charity page 8-10
SECTION 6 Statement of Financial
Activities for the period ended		 31 March 2022 page 11
SECllON 7 Balance sheet as at 31 March 2022 page 12
SECTION 8 Statement ofCash Flows for the period ended 31 Mamh 2022 page 13
SECTION 9 Notes to the linancial statements
for the period ended 31 March 2022		 page 14 -28

e ratio net Ob ective Goal 1 Goal 2 Pro ress made
Grants Increase Impact Increase scope to Both goals continue to be realised under the management ofthe
include outlying Durham
Community		 Foundation, (CDCF).We sim to continue
areas with the partnershi in the sr ahead
Care Improve quality of Improve health & Refurbished
care home completed		 March 2020
residential care wegbeing for Staffing restructure review under way to incorporate increased
services bsnalicisliss wegbeing
activities		 and improved qualiiy monitoring systems
Housing Modsmise cunwnt Develop new Ag major refurbishments
for older		 peoples social housing ars
housing stock housing models lo completed
to a very		 high standard. Work priorities are now
meet various focused on modemisstion ofthe private let housing on the
needs estate.
Estate Improve quality of The trustees
will endeavour		 to explore potential for commercial
built environment opportunities
that will help		 deliver our mission
to maintain

Unmstricted Restricted Endowment Endowment Endowment
Notes Funds Funds Funds Tolal Funds
Income from:
Donation
from linked Charny		 I.t/12 1,246,000 33,288,948 34,534,948
Charitable
/tcdv5ies		 3/4 1,024,718 75,850 1,100,568
Invests/a/Its 4/8 S91615 20 000 411615
Total 2 552333 75850 3$ $08 948 36047 131
Expenditure
on:
Raising funds
Charitable
sdiviTies
Other		 3/5
3		 (969,730)
450444		 (75,850) (1,045,580)
450444
Total 1420 174 5850 1 496 034
Surplus befom losses on
Investments 1,242 159 $3 308 948 $4551 107
Nel (losses) on investments 12/1 3 464 067
Net Income/(expenditure) 1 242 159 32 881 087040
Transfers
between funds		 17 (215,182) 216,182
Other recognised
gains/(losses):
Other gains/(losses)
Nel Movement
In funds:		 '1 025977 33 051 063 34087040
Reconciliagon offunds:
Total funds brought fomard
Total funds carried forward 1 025077 33 061 063 34087040
Continuing
Operafrons
The Charity did not irade in the prior penod and presents no comparalives as a result.
The resu0s for the period relate wholly to continuing operations.
None ofthe Charity's
activities were either acquired		 or discontinued
during		 the financial years.
The notes on pages 14 to 28 form an Integral part ofthese finandal
statements.
The finsncial statements were approved by the Board ofTrustees and authorised for issue on 06 September 2022
and signed on hs behalf by:

Notes March 2022
Fixed assets:
Tangible assets 11 3,508,504
Investment properees 12 7,965,000
Investment portfolios 13(i),(ii) ~29126539
Totsl5aed assets 40,800,043
Current assets:
Debtors
Cash et bank and		 in hand 14 166,282
~571163
Total cunenl assets 737,445
Llabgltlem
Creditors: amounts falling due within one year
UBS Cell Loan
Other Creditors 3		 Accrusls 15f13(fii) (6,810,980)
15
~439468
~7,250,448
Net cunsnl liabilises ~(6,513,003
Tofal Assets less cunent lisblgtiss 34,087,040
Trrtsl net essste 34.087,040
The funds ofthe Charity:
Endowment funds 17 19,690,211
Investment revaluation reserve 17 13370852
Tofal endowment funds 33,081,063
Restricted funds 16a/17
Unrestricted funds 16a/17 ~1025977
Tolal unrsslrictml funds ~f025077
Tolalcherltyfunds 34,087,040

March 2022
Turnover Coat of Sales Surplus
E 2 2
Income and expenditure
Housing accommodation 127,991 (160,678) (32,687)
Residential care 972 577 884,9D2) 87875
Sub-toteli
Nousfng ecdvilies		 1,100,568 (1,045,580) 54,989
Non-housing
(shown		 as Investments) 98,662 (450,444) 351,782)
Total 1,199,230 (1496,024) (296,794)
Inveslmsnt
Income - dividends		 312,389
Investment
income - profit		 l(loss) on sales of investments 174,451
Interest receivable 563
Surplus for the period 190,810
Donation
riom linked		 charily 34,534,948
Unrsslised
(redudion)		 ininvesrmeni property va/ues (26,000)
Unreslissd
(reducdon)
Unreslissd
(reduction)		 in invesimeni
irr investment		 portfolio
portfolio		 vs/ues
va/ues		 (Brewin
(UBS)		 Dolphin) (462,722)
~149,796
Net movement
in funda for		 tbe pedod 34,087,040
Rent lasses from housing accommodation lettings due to voids were E31,410,and bad de
Included
in Residential		 care income is22,119CJRS monies snd E84,212 DCC support G
4 Turnover Marcli 2022
Residential
charges		 (Housing activities) 1,100,568
Farm rents (shown as Investments) 70,337
Wayleaves
and other		 estate mcome (shown as Investments) 28,325
1,199,230
5 Cost ofSales March 2022
Housing Residential Non
Accom. Care Housing Total
8 6 8
Wages 13.220 561,402 161,140 735,762
Property costs 64,577 64,577
Generalcosts 1.208 1,20$
Financial and other costs 3,517 3,517
Agency staff 48,887 48,887
Maintenance 23,880 23,880
Residents' food 28,336 28,336
Coundltax 867 867
Cleaning 19,498 19,498
Light, heat &water 54,884 23,182 78.069
Insurances 12,420 12,420
Repairs snd renewals 46,392 46,392
Fixtures and fittings 2,112 2,112
Motor expenses 1,000 1,000
Safety 3,390 3,390
Property management 82,631 82,031
Telephone 930 8,480 9,410
Postage,
printing
8,stationery		 I,D23 2,790 3,813
Computer
expenditure		 8,606 8,606
Sundnes 12,255 4,6D6 18,$61
Interest Paid 45,357 45,357
Audit and accountancy fees 8,640 8,040
Legal fees 14,099 14,090
Professional fees 162,480 162,480
Staff training
&subsistence		 1,332 47 1,379
Payments
to livings		 325 325
CQC registration
fee		 4,396 4,396
Relief in need 300 300
Depreciation 45.450 9,416 12,949 67,815
Management
re-charges		 32,706 52,482 (85,188)
Total 190,678 884,902 450,444 1,496,024
Direct Cost s O f Running
In		 vestments
Total
6
Estate Running Costs 170,235
Investment Portfolio Charges 62.303
232.538
Expenditure on Chsritahle Acfivities
Direct Uuppok Total
8 8 8
Housing 127,972 32,706 160,678
Residential Care 832,420 52,482 884,902
Grant Making 625 625
Governance 217281 217281
961,017 302,469 1,263,486
Total charltshle acUvitles expenditure ~1496024
Analysis o fSupport and Governance
Finance Staff Other Total
Costs Costs Costs Costs
8 8 8 8
Housing 32,706 32,706
Residential Care 52,482 52,482
Governance 45,357 56,492 115,432 217,281
45357 200,620 302.469
Total
8
Audit 8,640
Legal 14,099
StaffCosts 56,492
Overhead allocation 138,050
217,281

Income and Expenditure Income and Expenditure Income and Expenditure Income and Expenditure Account: Housing Housing Housing Accommodation Accommodation March 2022
Income
Residents' fees 56,718
Accommodation
charges		 71,274
127,992
Expenditure
Wages 13,220
Property costs 64,577
General costs
Financial 8other costs		 1,208
3,517
Management
charge		 32,706
115,228
Depreciation 45,450
160,678
Deficit for the year (32,686)
Employee
Information		 March 2022
No.
The average weekly number ofpersons employed
(excluding the Trustees) during the period was 42
6
Salaries and wages 632,490
Social security costs 54,531
Pension costs 40,328
Other benefits 8,413
735,762
No employees
earned more		 than 860,000 in the period
Key Management Personnel March 2022
Total compensation paid to Key Management Personnel during the period:
Gross Pay 102,476
Employers
Pension		 Casts 8,002
110,478

Pension Costs
The Charity operates a money purchase defined contribution
pension scheme.		 The assets ofthe
scheme are held separately
fiom		 those ofthe Charity In an independently administered
fund.
The pension cost charge represents contributions payable
by the Charily		 tc the fund and amounted to
640,328.
March 2022
6
Pension costs outstanding
at 31 March		 10,484
8 Investment
and Other		 Income March 2022
6
Roya gies 20,000
Rent fiom farm rents and wsylsaves 98,661
Dividends
and interest		 received 292,397
Other Income 558
411,515
9 Burplus on Ordinary
Activities		 Marsh 2022
The surplus
on ordinary		 activities is stated after charging I(crediting): 6
Depreciation
-tangible fixed assets		 67,814
Auditor's
remuneration		 -in their capacity as auditors 8,400
Relief in need - residents 300
Donation
from linked		 charity (34,534,948)

SHG Assisted SHG Assisted
Bugdin s Land Bugdln s Equi ment Vehicles Total
5 8 6 6 8 6
Cost or valuation
At I April 2021
Donated from Linked Cherry 654,570 363,048 4,086,970 233,075 61,862 5,400,125
Additions
Disposals
At 31 Mar 2022 654,570 363,048 4,086,070 233,675 61,862 5,400,125
Depreciation
At I April 2021
Donated from Linked Charity 854,570 45,003 848,671 219,270 56,293 1,823,807
Charge for period 3,152 59,800 3,935 927 67,814
Disposals
At 31 Msr 2022 654,570 48,155 008,471 223,205 57,220 1,891,621
Net book value
At 31 Mar 2022 314,893 3,178,499 10,470 4,542 3,508,504
At 01 April 2021
Housing Residential Non
Tangible
Fixed Assets: Net Book		 Value analysed by activity Accom. Cam Housin Total
6 8 6
Land 75,000 50,000 189,893 314,893
Bu5dings 2,525,542 362,881 290,076 3,178,499
Equipment 8 2,406 8,056 10,470
Vehicles 4 642 4642
Total 2,600,550 415,287 492,667 3,508,504

IS Investment
Portfo0o: Bmwln Dolphin		 Investment
Portfo0o: Bmwln Dolphin		 Market Vates Vates Market Value Market Value Profit I
01- ss ot
Gt
8		 Dosatsd
0141st-21
E		 Add2lons
E		 Dls eels
f		 Transfers Revaluation asat
31dlar42		 (Loss)
on sale
General capital fund
General accumuhted
Educational
foundation		 income fund
fund		 15.047,522
1,665,140
58785		 (11,525) (424,432)
(36,095)
195		 10,211,5$5
1,029,045
ML590
(I) Total Invesbnent
porlfo0o		 17371447 (11 52 482 722 18.807.200
Value ofinvestments
Usted
Cash I Unlisted
Total		 16,980,663
390,784
17,371rdrM		 10,517,042
370,258
16,807,200
Hlstodeaf costofInvesunents
Revslusgon
Total		 12,177,598
5,193,850
17,371,448		 12,166,073
4,731,127
10,697,200
Investment
Portfolio		 ICall Loan: UBS Idsrket Value Market Value Market Value Profit f
01 ss st
Gt		 Donated
014)chSI		 Additions Dls Is Transfam RevaluaBon ss at
314$ar42		 (Loss)
on sale
8 E 8 E 6 8 E
(ii) Investment
portfc5o		 12,251,134 1,833,453 (1,536,803) (169,648) (149,797) 12,220,330 174,446
(rir) Call Loan 6935 71 45357 169648 6 10080
Het FacRky 5,315,004 1,'IMI,096 (1.535,803 (149.707 5r418.350 174840
Value cfinvesbnsnts
Listed
Cash IUnlisted
Total		 11,207,637
I 043,497
12.251,134		 11,001,857
1,227,482
12,2292M9
Historical cost ofinvestments
Revaluation		 11,423,205
827929		 11,519,091
~710248
Total 12,251,134 12,229,330
Torsi Investments
at		 Market Value 29,120,539
Ho Invastmsnt
is greater than 5%ofthe total portfolio value
14 Debtors March 2022
Trade Debtors
Prapaymsnts
end accrued income
Other Debtors		 63,685
50,101
166,282
15 Credltom:
amounts		 fsglng due whhln one year Marsh 2022
8
UBSCell Loan
Trade creditors
Acwusls and deferred income
Taxabon snd nodal security
Wages cred3or		 6,810,980
241,288
160,788
28,807
7,260,447
16 Boclal Housing
Grant Assisted Scheme - Housing Bugdlngs		 March 2022
Housing Homes
BuBdlngs
8		 England
6		 Total
f
Grant as at 1Apr0 2021
Donated from Linked Charity
As at 31March 2022		 654570
054,570		 728000
720.000		 1382 70
tA82 570
Amwtlsed
assl I April 2021
Donated from Unksd Charity
Restoration oforiginal Grant value
As at 31March 2022		 054,570
54570		 18,520
10520		 673,090
673000
21,362,570was released toreserves on the transfer horn original
cfthe ChsrBes SORP		 Page 26
unincorporated		 charity snd Ihe adoption 654 S70 728000 I 302570

( onSn
d)
17 ReeondSsg
ofmovements		 ln purtds
Gowns
as at
01
I		 fhmsdon
from
Snked
herily
Slacndt		 SU Pk el
(Degch)
fo year		 Restoratlort
ol original
Gmtttv
Ioo		 Profit
ah eels of
l~stments		 Release of
RmrullroBCII
wm
e		 Royahkw
Received		 Revaluauon Mrtmahuo
ropolr
deum
m		 Uy
fund		 Sol hco
s
ot
StBlurct
(o) Enmw
m nt funds:
Ger
Pdwohlinatv
repair (in
Educational hu
dsuo
Total Endowm
ItunA		 I fowl 24,495,275
(5,223,8S2)
40 30D
19,311,603		 174631
174651		 (32,115)
32 115)		 20,000
20,000		 216,182
218,1S2		 24,657,811
(5,007,700)
40300
10,609,211
Ib)Re al Niner
rvem
Ihvo$lrhNlt
PI0P
O s
Ihveslr
ntportfolo
(Sreulh
Investment
po Moto (UB8)
Total revaluauon
res
rves		 Dokrhlh) 7,955,477
5.103,840
827920
13977655		 32.115
32115		 (26,000)
(462,722)
I '19 796
(MS51SI		 7,929,477
4,731.127
710248
ISSTSSS2
(c)Realrlcted f nd:
Covid suppoh
Total Homes 6Communltl		 Agency Grant
(d) Unrs trbtedtund
r
68nolol
Holrshg s
o
odaSUI
Rw dent is I cat
Housing
a tlvltkw
Hunes
England G ants (Desgnaled)
Total Unreslumed
funds		 118030
1 364050
1,248,coa		 135621
(32,886)
87675
5498$ 'ian,nId		 118520
18520		 174451
174,451		 000
tah an		 18
121		 182i
Mt		 411582
(32,$!6)
87675
542OIS
I 302570
(,825M7
Bow ccotSIMa
h2022		 190510 3460104$
(o) End Uounl funds
Eabooldl
IW		 Edueauo
G n ral I pelts to aeon Total
Balance al I Apdl 2021
DoneSon fmm Unked Ch
nty
Tlohsfers
fretrr
U mslrlcled
fu		 d: 24,405,275 (5,223,882) 40,300 19,311,693
R Mum wcelvNI
PNSI on cola ofInveslmsnls
Rel s
kmn revel
sl
n reserve
Extroordlhsly
repays frrmllhg
Soignee st 31Momh 2022		 20,000
174 451
(32,115)
24,0S7,611		 216182
(5,007,700)		 40,300 2a,ooa
17465(
(32,11S)
218102
10,890,211
(b) Inveslm
m revaluatiort		 erve
P opowoo PouroSo Tmol
0
I nceat I APOI2021
Donatlo
e
Linked chewy
U
esllsm (deSdg /surplus
Realusao
of evsluafwn
resetve
Balance st 31 Ida
h 2022		 7,955,477
(26 Dog)
7,920477		 6,021,770
(812,510)
32115
5641,375		 IS,077,2S5
(S30,518)
32115
ls,sya,e52
(c) Restricted I
8:
Cmtd support Total
B*l nce N I April 2021
Donall
nr
Link& Chanly
Restoradon
ofohgl
el G
I aloe
Inome
Eq
ndkure
Science at 31M
h2022		 75.850
(75850		 75,850
C505D
Id)Unrestricted
h
de
U reshtcted Hans
0
funds nett ulw Total
gale neo et I Apr3 2021
~unction
from Link
d Cha ky
Hate 8 lusfortheyear
Olmr
*n ewwrvetransfer		 I 246,000
135,621
54,989		 S4,909
(54,980)		 1646,000
100,$10
Transferslo
caph
i mme
Rcmbaa locolvod
Rmbwfunofori0inalGrs		 I slu (20,000) 12o,aas)
Pnuuc
8sloofbvosllrlmtb
Eauuonknahi
pairs f mkng
Belch
st Sl blotch 2022		 (174,451l
218182
1,025,O77		 (774651)
16102
1,825,O77

Investmsnt
Unrestricted Endowment Revaluation Restricted
Balance at 01April 2021 Notes Funds Funds Reserves Resenies Total
Donated from Linked Charity 1,240,000 19,311,693 1$,977855 $4,534,948
Surplus for the year 190,610 190,610
Transfers to Endowment Funds in respect ofRoyalties received 17 (20,000) 20,000
Transfers from capital reserves in mspect ofRestoration oforiginal Grant value 17
Transfers to Endowment Funds in respect of Profit on sale ofinvestments 17 (174,451) 174,451
Transfer from revaluation reserve Pros on sale ofShares prior year profit 17 (32,115) 32,115
Transfers tc Endowment Funds in mspect of Extraordinary repairs funding 17 (216,162) 216,182
Unrealised
(reduction)
in		 investment property values 17 (26,000) (26,000)
Unrealised
(reduction)
in		 investment porffolio values (Brewin Dolphin) 17 (462,722) (462,722)
Unrealised
(reduction)
In		 investment portfolio values (VSS) 17 (149,706) (149,796)
Balance at 31Mar 2022 1,025,977 19690,211 13,370,852 - 34,087,040