|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|