Company registration nurnber.. 03321759 Charity registration number- 1063757 Swans Trust (Shaftesbury) (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 28 February 2025 Swans Trust {Shaftesbury} Contents (continued) Trustees, Report Ito4 Independent Examiner's Report Statement of Financial Activitie5 Balance Sheet 7t08 Notes to the Financial Statements 9t019 Swans Trust (Shafte5bury) Trustees. Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 28 February 2025. Objectives and activitie5 Objerts and alms Swans Trust Ishaftesbury) is a r￿Istered charity working to promote the welfare and well-being of the people of Shaftesbury and the surrounding rural areas. The Yard 15 the major projert and the retail units are used primarily for small and start-up businesses with a creatlve aspect, giving small trdders a Chan￿ to get established. The Trust continues to try and develop the art and craft emphasis with events and Open Days. Publlc beneflt The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the company's aims and objectives and in planning of future activities. The Trust supports local community projects and manages a number of projects of benefit to the local community. Page I Swans Trust (Shaftesburyl Trustees, Report (Continued) Achievement and performance Charitable artivities A Year of Progre55 in Swansyard This year has seen posittve developments within Swans Yard. Of the six businesses trading here, Coconut & Cotton was sold, and we were pleased to welcome Fcffget Me Not. an ec(hbusiness with a similar ethos and product range. The much-loved Ugly Duckling Café continues to go from strength to strength, attracting both local residents and tourists. This increase in visitors beneftts all our businesses including the Dressmakers Studio, and the Cobble Bo&- together creating a vibrant destination for the community and visitors alike. Supportlng the Shaftesbury Community Swans Trust has continued to fund a range of projects across Shaftesbury. This yearfs highlights include: l} Community Defibrillators defibrillators avallable 24n. Installation of new units. bringing the total to nine publicly accessible 2) Training for Lfffrsavlng Skllls - Sponwrship of Gold Hill Trainin& led by Dirertor and Certified Instructor Hannah McCle3n, together with the provision of specialist equipment. This year. CPR and defibrlllator trainin8 was delivered to 300 pupils in local schools and over 100 adults from local l>usinesse5. 3} Dance Oqrtreach for Young People- Extension of our support for the TLW Dance Foundation. funding classes in Shaftesbury primary schools so that thildren from disadvantaged backgrounds can enjoy high-quality dance tuition. 41 Chubb's House Garden Greenhouse - Funding the construction of a new Ereenhou5e to support the gardening activities of retired residents. 51 Guys Marsh Prison MemorFal - Supporting the installation of a memorial stone to honour staff and inmates who lost their lives during World War11. 61 Young Peoplds Musl¢ Festlval - Contributing to the success of the festNal organised by Shaftesbury Arts Centre. ￿lebrating and encouraging local young musicians. Looklng Ahead As we look forward to the coming year, the Swans Trust remains committed to: Strengthenin8 Swans Yard as a hub for small businesses and community life. Supporting projects that improve health. wellbein& and opportunities for local people Buildin8 partnerships that allow us to extend our impact further. On behalf of the Trustee5, 1 would like to thank all our partners, SUPPOrters, and volunteers for their ongoing contribution to the work of the Swans Trust. Page 2 Swans Trust (Shaftesbury) Trustees, Report {continued) Flnanaal review There is a surplus of £13.55512024.' £6,597). ThTS increase is mainly due to suc¢e55ful fund applications. The surplus will be used to fund projects in the Shaftesbury community going forwards. Pollcy on reserves The charity aims to hold resepies to cover approximately 3 months of normal expenditure {estimated at around £10,000). Reserwes held at the year end were £291,100 {2024." £277,545). Free reserves as at the 28th February 2025 totalled £91,30612024- £85,718) and this is olculated as unrestricted funds less any tangible fixed assets. Structure, governance and management Nature of governin9 dorument The charity is controlled by its governing document, a deed of trust, and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. Recrnltment and appointment of trnstees Trustees are elected from nominations received. Page 3 Swans Trust (Shaftesbury) Trustees, Report [￿ntInued} Refereno and Admlnistrative Detalls Charity Registration Numbei- 1063757 Company Registration Number: 03321759 Registered Office- Untt V2 Swans Yard High Street Shaftesbury Dorset SP7 8JQ Trustees and officers The trustees and officers serving during the year and since the year end were as follovts: Trustees- P Mills J L Goodwin J J Beattie (appointed IS January 2025) J C Parker R S Tippins M Madgwick (resigned 18 April 2024) M Dibben (resigned 18 April 2024) J F Wilkinson {appointed 19 February 2025) T Clements {resigned 19 April 2024) J Cooper (appointed 17 September 2025) R Chenery (appointed 17 September 2025) Independent Examiner: Ward Goodman Audit Services Limited 4 Cedar Parl Cobham Road Ferndown Industrial Estate, Wimborne Dorset BH217SF The annual ￿port was approved by the trustees of the charity on and signed on its behalf by.. R S Tippins Trustee Page 4 Swans Trust (Shaftesbury) Independent Examiner's Report to the trustees of Swans Trust (Shaftesbury) ('the Company.) I report to the charity trustees on my exarnination of the accounts of the Company for the year ended 28 February 2025. Responsibilities and basis of report As the charitvs trustees of the Company {and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companles Act 2006 {'the 2006 ACVI. Havlng satlsfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charitys accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 ACYI. In carrying Out my examination I have followed the Directions given by the Charity Commission under section 145{5){bl of the 2011 Act. Independent examlnerfs stat￿ent I have completed my examination. I confirm that no matters have come to my attention in connection with the examination 8lvlng me cause to believe: l. accounting records were not kept in respect of sv￿n5 Trust (Shafte5bury) as required by section 386 of the 2006 Art; or 2. the accounts do not accord with tl)ose records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered a5 Part of an independent examination- or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reportin8 by charities [applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in c￿nertIon wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. T M Mackey Bsc ACA ICAEW Ward Goodman Audit Services Limited 4 Cedar Park, Cobham Road Ferndown Industrial Estate, Wimborne Dorset BH217SF Date:.., Page 5 Swans Trust {Shaftesbury} Statement of Financial Artivitie5 for the Year Ended 28 February 2025 {Including Income and Expenditure Account and Statement of Total Recognised Gains and L055es) Unrestricted funds Restrirted funds Total 2025 Total 2024 Note Income and Endowments from: Donation5 and legacies Investment income 15.249 18,833 43,359 3,231 42,837 1,157 43,359 Other income Total incorne 46.943 15.249 62.192 47,225 Expenditure on: Raising funds Charitable activities (1,116) {41,355) (1,1161 (47,5211 11,116) {39,5121 (6,166) Total expenditure {42,471) 16,166) 148,6371 {40.6281 Net income 4,472 9,083 13.555 6,597 Net movement in fund5 4,472 9,083 13.555 6,597 Reconciliation of funds Total funds brought forward 272.160 5.385 277,545 270,948 Total funds carried forward 276,632 14,468 291,100 277,545 The note5 on pages 9 to 19 form an integral part of these financial Statements. Page 6 Swans Trust Ishaftesbury) IRegistrntion number: 033217591 Balance Sheet as at 28 February 2025 2025 Note Unrestrfrted Restrfcted Flxed assets Tangible assets 185,326 185.326 186,442 Current assets Debtors 14 1,473 43,773 57.409 1.473 43,773 71,877 26 57,282 44,117 Investments Is Cash at bank and in hand 16 14,468 102,655 14,468 117,123 101,425 CredIto￿. Amunts fallifv8 the wlthin one year 17 (11,349) 111,349) 110,322) Net current assets 91.306 14,468 105,774 91,103 Net assets 276,632 14.468 291,100 277.545 Funds of the tharfty. Restrlcted income funds Restricted fvnds 14,468 5.385 Unrestri¢ted iMome funds Unrestrirted funds 276,632 272,160 Total fun(ts 18 291.ICA) 277.545 For the financlal year ending 28 February 2025 the chartty was entitled to exemption from audlt under sectlon 477 of the Companies Act 21YJ6 relating to small companies. Dlrectors, responsiblllties: The members have not required the charity to obtain an audit of its accounts for the year In question in accordance with 5￿tIOn 476; and The dirertors acknowledge their reswnsibllltie5 for complylng with the requirements of the Act wrf(h respect to accountlng records and the preparation of accounts. These financial ststements have been prepared in accordance with the provlsions relating to companies subject to the small companie5 re￿Me. The notes on pages 9 to 19 form an inre8ral part of tr*5e financial statements. Pa8e 7 Swans Trust {Shaftesbury) (Re8iStratlon number: 03321759) Balance Sheet as at 28 February 2025 Icontlnued) Thefi ancial statements on pages 6 to 19 were approved by the trustees. and authorised for Issue on and signed on their behalf by: R sfippin5 Trustee The notes on pages 9 to 19 form an Integral part of tTr£se financial statements. Page 8 Swans Trust (Shaftesbury) Notes to the Financlal Ststernents tor the Year Ended 28 February 2025 l Legal Forni Swans Trust {Shaftesbury) is a private limwted company (no. 03321759), re8iStered in England and Wales and limited by guarantee. The registered office is Unit U2 Swans Yard. High Street, Shaftesbury, Dorset, SP7 8JQ 2 A£countin8 pollcles ststement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice {applicable to tharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10211 {issued in October 20191- (Charities SORP (FRS 102)). the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basls of preparatlon Swans Trust {Shafte5buryl meets the definition of a public benefrt entity under FRS 102. Assets and liabllities are initlally recognised at historical cost or transaction value unless otherwise stated in the relevant accountlng policy notes. Going concern The trustees consider that there are no material uncertainties aboutthe charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Income and endowments All Income (including government grants) is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, tt is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recoBnised as expenditure as soon as there is a le8al or constructive obligation committing the charlty to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under heading5 that a8gregate all cost related to the category. Where costs cannot be directly attributed to particular heading5 they have been allo&ited to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. The charity incurs some costs which are recharged to the businesses/trdders that are supported by the charity. Expenditure incurred on behalf of the businesses and trades and then recharged are not recogni5ed as expenditure in these financial statements. Page 9 Swans Trust (Shaftesbury) Notes to the Financial Statements for the Year Ended 28 February 2025 (continued) 2 Accountlng policies (¢ontlnued) Tanglble fixed assets Individual fixed assets are initially recorded at cost. less any subsequent accumulated depreciation and impairment. Depredatlon and amortlsatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows-. Asset class Long leasehold Improvements to property Depreciation method and rate Stralght line over 190 years Straight line over 190 years Taxatlon The charity is exempt from corporation tax on charitable activities. Fund structu UnrÈstricted funds can be used in accordance with the Charitable objectives at the dlscretlon of the tru5tee5. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restritted funds can only be used for particular restricted purposes within the objectives of the charity. Restrirtions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund 15 included in the notes to the financial statements. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at Bank and in hand Cash at bank and in hand includes cash and short temi highly liquid investments with a short maturlty of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors Creditors are reco8nlsed where the charity has a pre*nt obli8arion resultir6 from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Current asset Investments Current asset investrnents are made up of liquid investments held with a maturity date longer than 3 months but less than 12 Months from the opening of the account. Page 10 Swan5 Trust IShaftesbury} Notes to the Financlal Statements for the Year Ended 28 February 2025 (continued) 3 Income from donations and legacies Total 2025 Total 2024 Donations and legacies: Donations 18,635 198 3,231 Gift aid reclaimed 18.833 3,231 4 Investment income Total 2025 Total 2024 Interest receivable and similar income; Interest receivable on bank deposits Income from rent5 2.357 41,IX12 3,000 39,837 43,359 42,837 5 ExpendItU￿ on raising funds a) Costs of trading activities Totsl 2025 Total 2024 Depreciation, amortisation and other sirnilar costs 1,116 1,116 1.116 1.116 6 Expenditure on charltsble activities Total 2025 Total 2024 Note Charitable Activity Grant funding of artivities Governance costs 39,204 6.767 1.550 31.436 6,151 1,925 47,521 39.512 Pa8e 11 Swans Trust (Shaftesbury) Notes to the finandal Statements for the Year Ended 28 February 2025 (contlnued) 7 Analysls of governance and support ¢osts Support costs allocated to charttable actlvities Goveman costs Total 2025 Total 2024 Charitable Activity 1.550 1,550 1,925 Govemance costs Totsl 2025 Total 2024 Independent examiner fees Examination of the financial statements Other 8overnance costs 1,550 1,475 450 1,550 1,925 Page 12 Swans Trust Ishaftesbury) Notes to the Financial Statements for the Year Ended 28 February 2025 (continued) 8 Grant-making Analysls of grants Grants to institutions 2025 2024 Analysis Grants to institutions 6,767 6,151 Below are details of material grants made to institutions 2025 2024 Name of inslltution Butler TLW Dance ActNIty Charitable Activity Charitable Activity Charitable Activity Charitable Activity Charitable Activity Charitable Artivty Charitable Activity 1,500 4,651 Shaftesbury Museum Young Persons Art Competition PC Fletcher memorial Gold Hill Defib Rolt Millenium Green Shaftesbury Camera Club 1,572 73 2,522 2,000 600 6,767 6,151 9 Net incominglout8oin8 resources Net incoming resources for the year indude: 2025 2024 Depreciation of fixed assets 1,116 1,116 10 Trustees remuner*ion and expenses No trustees. nor any persons connected with them. have received any remuneration from the charity during the year. There were no expenses or benefts paid to trustees in the period covered by these financial statements. Page 13 Swans Trust (Shaftesbury) Notes to the Flnanclal Statements for the Year Ended 28 February 2025 (contlnued) li staff costs The aggregate payroll costs were as follows: 2025 2024 Staff costs during the year were: Wages and salarles 6,230 5.203 The rnonthly average number of persons {induding senior management / leadership team) employed by the thartty during the year expressed as full time equivalents was as follows: 2025 No 2024 No Head count No empl￿ee received emoluments of more than £60,000 during the year. 12 Comparative5 for the statement of financlal actlvftles Unrestricted Restricted funds Totsl 2024 fvnds Note Income and Endowments from: Donations and legacies Investment income Other income 3,231 12 3,231 42,837 1,157 42,825 1.157 Total income 43,982 3,243 47,225 Expenditure on: Raisin8 funds Charitable activities {1,116) {33.361) (1,1161 {39,5121 (6,151) Total expenditure 134,477) {6,151} 140,628) Net income/lexpenditure) 9.505 (2.9081 6,597 Net movement in funds 9.505 12.908} 6,597 Reconaliation of funds Total funds brou8ht forward Total funds carried fonvard 262.655 8,293 270,948 272,160 5,385 277,545 Page 14 Swans Trust Ishaftesbury) Notes to the Flnancial Statements forthe Year Ended 28 February 20Z51contlnued) 13 Tangible f5xed assets Improvements to property Long leasehold TOL At l March 2024 180,960 12,178 193,138 At 28 February 2025 180,960 12.178 193,138 Depreclatlon At l March 2024 Charge forthe year 6,276 420 6.696 1.116 70 At 28 February 2025 7.322 490 7,812 Net book value At 28 February 2025 173,638 11,688 185,326 At 29 February 2024 174,684 11,758 186.442 14 Debtors 2025 2024 Trade debtors 1,473 Prepayments 26 1,473 26 15 Current asset Investments 2025 2024 Unlisted other investments 43,773 57,282 Page 15 Swans Trust (Shaftesbury) Notes to the Flnancial Statement5 for the Year Ended 28 February 20251continued) 16 Cash and cash equiwalents 2025 2024 Cash on hand sh at bank 102 104 71.775 44,013 71,877 44.117 17 Credltors: amounts falllng due wlthin one year 2025 2024 Trade creditors 2,572 162 1,219 114 Other taxation and social security VAT 393 1,487 5,577 1.925 Other creditors 5.910 2.312 Accruals 11,349 10.322 Page 16 Swans Trust (Shaftesbury) Notes to the Financial Statements for the Year Ended 28 February 2025 (continued) 18 Funds Balance at 28 February 2025 Balan￿at I March 2024 Incomlng resou￿5 Resources expended Transfers Unrestrfcted funds 6enen71 General Funds 272,160 43,359 (39,146) (6,Tr)5) 270,368 Design(rted Butler Trust TLW Dance Foundation (2,000) 6,005 4,005 Young Person Art Competition Guys Marsh Memorial Fund Rolt Millenium Green 1.5(M) (1.325) 175 84 2,OLK) 2,0 3,584 13.325) 6,005 6,264 Total unrestrirted funds 272.160 46,943 142,471) 276,632 Re5tri¢ted funds Taskforce 2,277 1.360 549 2,277 1,250 Breach Common (iio) Defibrillator 135 PC Fletcher Memorial Gold Hill Defib Support Guys Marsh Memorial 1,199 319 (1,518) <4.038) {S(M)) 13,875 920 9,837 420 S,385 15,249 (6,166) 14,468 Totsl funds 277,545 62,192 148,637) 291,100 Page 17 Swans Trust {Shaftesbury) Notes to the Financial Statements for the Year Ended 28 February 2025 Icontinued) 18 Funds (Contlnued) Balance at I Marth 2023 Incoming resources Resources expended Balance at 29 February 2024 Unrestrfcted funds General General Funds 262,655 43.982 134,477) 272,160 Restrlcted funds Taskforce Slopes and Views Breach Common 2.277 4.639 985 2.277 12 (4,6511 375 1,360 549 Defibrillator 392 157 2,699 PC Fletcher Memorial (1,5001 {6.1511 1.199 8.293 3.243 5,385 Total funds 270,948 47,225 {40.628} 277,545 Page 18 Swans Trust (Shaftesbury) Notes to the Flnancial Statements for the Year Ended 28 February 2025 (contlnued) 18 Fund5 (continuedl The specific purposes for which the funds are to be applied are as follows: Designated funds- Butler Trust TLW Dance Foundation: Money raised and designated to allow kids to attend dance school. Young Persons Art Competition: Money designated to I￿ld and manage the Young artists competition run by Cygnets Guys Marsh Memorial Fund- Money desi8nated to erert a statue for wardens that lost their live5 during the Second world war Rolt Millenium Green: Money designated for the purchase of fen￿ and benches Restricted funds: Taskforce: funds continued to be maintained for review of potential comrnunity programmes and fund raising for charities in Shaftesbury. Breach Common: Breach Common project was opened in 1414120 to rewtalise the Common for rnuch Improved Community and Tourist Use sponsored by Shaftesbury Counal and individuals. Defibrillator., for the purchase and rnaintenance of a community defibrillator. Gold Hill Defib Support., for the purchase of equipment to allow defibrillator training to those in the community Guys Marsh Memorial Fund: Donations to erect a statue for wardens that cost their Iwe5 during the second world war PC Fletcher Memorial Fund - Relates to donations received and expenditure towards a memorial for PC Fletcher. Slopes and Wiews: Monies held to provide tourist and community historical info with a booklet and signed tour5 of Shaftesbury points of interest. 19 Related party transaLtions During the year the two trustees made donations totalling £48 (2024: £8) to the charity without restriction. 20 Taxatbon The charity is a registered charity and is therefore exempt from taxation. Page 19 Swans Trust (Shaftesbury) Detailed Statement of Flnanclal Activities for the Year Ended 28 February 2025 Total 2025 Totsl 2024 Donations and legacies Donations from Individuals Gift aid reclaimed 18,635 198 3,231 18,833 3,231 Investment Income Interest receivable and similar income Incorne from rents 2,357 41.CK)2 3,000 39.837 43,359 42.837 Other income other income 1,157 1,157 Raisinqfvnds Depreciation of long leasehold 11,116) 11,116) 11,116) {1,116) Charitoble ortlvltles Wages and salaries Contributions to projects Charitable purchases Grants to institutlons Independent Examine