**Charity number: 1118122** ## **The Swallow Trust** **Trustees' Report and Financial Statements** **For the year ended 5 April 2025** ## **The Swallow Trust** ## **Contents** ||Page| |---|---| |**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 4| |**Independent Auditors' Report on the Financial Statements**|5 - 8| |**Statement of Financial Activities**|9| |**Balance Sheet**|10| |**Notes to the Financial Statements**|11 - 18| **The Swallow Trust** **Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 5 April 2025** |**Trustees**|Anthony David Swallow, (Chair of Trustees)| |---|---| ||Christopher David Swallow, Trustee| ||Heidi Swallow Purvis, Trustee| ||Helga Hildegard Gertrud Swallow, Trustee| ||Nicola Mapp, Trustee| |**Charity registered number**
1118122
**Principal office**
Apartment 6
Fallibroome House
68 Macclesfield Road
Prestbury
Cheshire
SK10 4BH
**Investment Managers**
Luna Investment Management Limited
The Old Schoolhouse
5-7 Byrom Street
Manchester
M3 4PF
**Independent auditors**
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Stockport
SK1 3GG
**Solicitors**
HCR Hewitsons
50-60 Station Rd
Cambridge
CB1 2JH|| Page 1 ## **The Swallow Trust** **Trustees' Report For the year ended 5 April 2025** The Trustees present their annual report together with the audited financial statements of the charity for the year 6 April 2024 to 5 April 2025. ## **Objectives and activities** ## **a. Policies and objectives** The charity's objectives are to make donations and grants for the benefit of such charitable objectives and purposes, or such registered charities for their work, in any part of the world as the trustees in their discretion see fit. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Strategies for achieving objectives** The trustees have had regard to the guidance contained in the Charity Commission's guidance on public benefit requirement under the Charities Act 2011 as amended by the Charities Act 2022, when reviewing the charity's aims and objectives and in planning future activities. In particular the trustees consider how planned activities will contribute to the charity's aims and the objectives they have set. They consider that they have complied with their duty under section 17(5) of the Charities Act 2011 as amended by the Charities Act 2022. ## **Achievements and performance** ## **a. Main achievements of the charity** The trustees donated £177,500 ( _2024: £146,000_ ) to various charities and organisations during the period. The donations are detailed in note 17 of the accounts. The trustees exercised their discretion with regard to the donations made to several charitable organisations in the period which supported children, young adults and families in the United Kingdom. There was a positive net movement in funds for the period of £225,236 ( _2024: £182,864_ ). Gross interest and income from investments for the period decreased to £60,769 compared with £84,116 in 2024. The balance of the unrestricted funds at 5 April 2025 amounts to £5,639,890 ( _2024: £5,414,654_ ). The increase in the unrestricted funds is largely attributable to investment gains of £18,928 during the year ( _2024: £197,852_ ) and a significant donation received from a Trustee of £300,000 ( _2024: £80,000_ ). The Trust continued to derive the majority of its income from donations from the trustees. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 2 ## **The Swallow Trust** **Trustees' Report (continued) For the year ended 5 April 2025** ## **b. Reserves policy** The trustees operate a single unrestricted fund that is represented by the market value of investments and net cash deposits. The income generated from these resources is utilised to make charitable donations agreed by the trustees. The trustees' central objective is to preserve the existing wealth of the charity over a long term and therefore the capital base of investment is used to generate income for distribution on an annual basis. The overall trust portfolio is expected to generate income of 2.5% to 3% per annum above inflation. ## **Structure, governance and management** ## **a. Constitution** The Swallow Trust is a registered charity, number 1118122 (charitable status obtained on 23 January 2001), the governing instrument being the trust deed dated 8 January 2007. The trustees, who served throughout the period, are summarised on page 1. Appeals are considered as they are received and the trustees will make donations throughout the period. ## **b. Methods of appointment or election of Trustees** Appointment of new trustees is at the discretion of the existing trustees. New trustees are briefed about the charity's objectives and how they have been achieved in the past. ## **c. Risk management** As part of its business planning process, the trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. ## **d. Trustees** The current trustees of the charity, who served throughout the financial period unless otherwise stated, are as shown on page 1. ## **Plans for future periods** The charity intends to continue with its current objectives to make donations and grants for the benefit of such charitable objectives and purposes, or such registered charities for their work, in any part of the world as the trustees in their discretion see fit. Page 3 ## **The Swallow Trust** ## **Trustees' Report (continued) For the year ended 5 April 2025** ## **Statement of Trustees' responsibilities** The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Disclosure of information to auditors** Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that: - so far as the trustee is aware, there is no relevant audit information of which the charity’s auditor is unaware; and - • the trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/herself aware of any relevant audit information and to establish that the charity’s auditor is aware of that information. Hurst Accountants Limited have been appointed as auditors for the period and have indicated their willingness to continue in office as the charity’s auditors and a resolution for their reappointment will be proposed at the forthcoming Annual General Meeting. Approved by order of the members of the board of Trustees and signed on their behalf by: Heidi Purvis ................................................ **Heidi Swallow Purvis** 29 Jan 2026 Date: Page 4 ## **The Swallow Trust** ## **Independent Auditors' Report to the Members of The Swallow Trust** ## **Opinion** We have audited the of The Swallow Trust (the 'charity') for the year ended 5 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the : - give a true and fair view of the state of the charity's affairs as at 5 April 2025 and of its incoming resources and application of resources for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011 as amended by the Charities Act 2022. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 5 ## **The Swallow Trust** ## **Independent Auditors' Report to the Members of The Swallow Trust (continued)** ## **Other information** The other information comprises the information included in the Annual Report other than the and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Trustees' Report is inconsistent in any material respect with the ; or - sufficient accounting records have not been kept; or - the are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of that are free from material misstatement, whether due to fraud or error. In preparing the , the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 6 ## **The Swallow Trust** ## **Independent Auditors' Report to the Members of The Swallow Trust (continued)** ## **Auditors' responsibilities for the audit of the financial statements** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these . Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ## **Identifying and assessing potential risks related to irregularities** In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following: - The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets. - The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud. - Supporting documentation relating to the Company's policies and procedures for: - Identifying, evaluating, and complying with laws and regulations - Detecting and responding to the risks of fraud - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. - The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. - The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, Quality Management System accreditations such as ISO 9001, API specifications, and Achilles UVBD, and Anti-bribery and Corruption. ## **Audit response to risks identified** Our procedures to respond to the risks identified included the following: - Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements. - Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud. - Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities. - Enquiring of management about any actual and potential litigation and claims. - Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud. Page 7 ## **The Swallow Trust** ## **Independent Auditors' Report to the Members of The Swallow Trust (continued)** We have also considered the risk of fraud through management override of controls by: - Testing the appropriateness of journal entries and other adjustments, and identifying accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error. - Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and - Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities for the audit of the is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. ## HABesantRoberts ## **Helen Besant-Roberts, for and on behalf of Hurst Accountants Limited** Chartered Accountants & Statutory Auditors 3 Stockport Exchange Stockport SK1 3GG 30 Jan 2026 Date: Page 8 ## **The Swallow Trust** ## **Statement of financial activities For the year ended 5 April 2025** |**Note**
**Income from:**
Donations and legacies
3
Investments
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
6
Other expenditure
7
**Total expenditure**
**Net income/(expenditure) before net gains on investments**
Net gains on investments
**Net movement in funds before other recognised**
**gains/(losses)**
**Other recognised gains/(losses):**
Gains/(losses) on foreign currency
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**375,000**
**60,769**
**435,769**
**38,238**
**177,500**
**11,820**
**227,558**
**208,211**
**18,928**
**227,139**
**(1,903)**
**225,236**
**5,414,654**
**225,236**
**5,639,890**|**Total**
**funds**
**2025**
**£**
**375,000**
**60,769**
**435,769**
**38,238**
**177,500**
**11,820**
**227,558**
**208,211**
**18,928**
**227,139**
**(1,903)**
**225,236**
**5,414,654**
**225,236**
**5,639,890**|_Total_
_funds_
_2024_
_£_
_100,048_
_84,116_
_184,164_
_41,694_
_146,000_
_11,430_
_199,124_
_(14,960)_
_197,852_| |---|---|---|---| ||||_182,892_
_(28)_
_182,864_
_5,231,790_
_182,864_
_5,414,654_| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 to 18 form part of these financial statements. Page 9 ## **The Swallow Trust** ## **Balance Sheet As at 5 April 2025** |**Note**
**Fixed assets**
Investments
10
**Current assets**
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one year
12
**Net current assets**
**Total net assets**
**Charity funds**
Unrestricted funds
13
**Total funds**|**74,975**
**325,714**
**400,689**
**(11,820)**|**2025**
**£**
**5,251,021**
**388,869**
**5,639,890**
**5,639,890**
**5,639,890**|_20,000_
_526,741_
_546,741_
_(11,430)_|_2024_
_£_
_4,879,343_
_535,311_| |---|---|---|---|---| |||||_5,414,654_| |||||_5,414,654_| |||||_5,414,654_| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Heidi Purvis ................................................ ## **Heidi Swallow Purvis** 29 Jan 2026 Date: The notes on pages 11 to 18 form part of these financial statements. Page 10 **The Swallow Trust** **Notes to the Financial Statements For the year ended 5 April 2025** ## **1. General information** The Swallow Trust is a registered charity, number 1118122 (charitable status obtained on 23 January 2001), the governing instrument being the trust deed dated 8 January 2007. The registered office of the charity is Apartment 6, Fallibroome House, 68 Macclesfield Road, Prestbury, Cheshire, SK10 4BH. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 as amended by the Charities Act 2022. The Swallow Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Going concern** The charity's activities, results and future plans are disclosed in the trustees' annual report. The trustees have assessed the balance sheet and likely future cash flows of the charity at the date of approving the financial statements. The trustees believe that the charity is well placed to manage its business risks successfully despite the current uncertain economic outlook. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees therefore, consider that the going concern assumption is an appropriate basis on which to prepare these financial statements. ## **2.3 Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Page 11 **The Swallow Trust** **Notes to the Financial Statements For the year ended 5 April 2025** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Foreign currencies** Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities. ## **2.7 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities. ## **2.8 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.9 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 12 ## **The Swallow Trust** ## **Notes to the Financial Statements For the year ended 5 April 2025** ## **2. Accounting policies (continued)** ## **2.10 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. ## **2.11 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at amortised cost, with the exception of investments in listed shares. Investments in listed shares are held at fair value at the balance sheet date, with changes recognised in the profit or loss. The fair value can be measured reliably as the shares have a quoted market price in an active market. ## **2.12 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Income from donations and legacies** |Donations
Income tax receivable
**Total 2025**
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
300,000
75,000
375,000
_100,048_|**Total**
**funds**
**2025**
**£**
**300,000**
**75,000**
**375,000**
_100,048_|_Total_
_funds_
_2024_
_£_
_80,000_
_20,048_
_100,048_| |---|---|---|---| ||||| Page 13 ## **The Swallow Trust** ## **Notes to the Financial Statements For the year ended 5 April 2025** ## **4. Investment income** |Investment income - Dividends
Investment income - Interest
**Total 2025**
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
48,291
12,478
60,769
_84,116_|**Total**
**funds**
**2025**
**£**
**48,291**
**12,478**
**60,769**
_84,116_|_Total_
_funds_
_2024_
_£_
_74,397_
_9,719_
_84,116_| |---|---|---|---| ||||| ## **5. Expenditure on raising funds** ## **Costs of raising voluntary income** |Bank charges
Investment management fees
**Total 2025**
_Total 2024_|**Unrestricted**
**funds**
**2025**
**£**
-
38,238
38,238
_41,694_|**Total**
**funds**
**2025**
**£**
**-**
**38,238**
**38,238**
_41,694_|_Total_
_funds_
_2024_
_£_
_510_
_41,184_
_41,694_| |---|---|---|---| ||||| Page 14 ## **The Swallow Trust** ## **Notes to the Financial Statements For the year ended 5 April 2025** ## **6. Analysis of expenditure on charitable activities** ## **Summary by fund type** |**Unrestricted**
**funds**
**2025**
**£**
Donations made (note 17)
177,500
_Total 2024_
_146,000_
**Other expenditure**
**Unrestricted**
**funds**
**2025**
**£**
Accountants fee
5,742
Auditors remuneration
6,078
**Total 2025**
11,820
_Total 2024_
_11,430_
**Auditors' remuneration**
Fees payable to the charity's auditor for the audit of the charity's annual accounts
Fees payable to the charity's auditor in respect of:
All non-audit services not included above|**Total**
**2025**
**£**
**177,500**
_146,000_
**Total**
**funds**
**2025**
**£**
**5,742**
**6,078**
**11,820**
_11,430_
**2025**
**£**
**6,078**
**5,742**|_Total_
_2024_
_£_
_146,000_| |---|---|---| |||_Total_
_funds_
_2024_
_£_
_5,550_
_5,880_
_11,430_| |||_2024_
_£_
_5,880_
_5,550_| ## **7. Other expenditure** ## **8. Auditors' remuneration** ## **9. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ . During the year ended 5 April 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ . The charity has no employees other than the Trustees. Page 15 ## **The Swallow Trust** ## **Notes to the Financial Statements For the year ended 5 April 2025** ## **10. Quoted investments and securities** |**Cost or valuation**
At 6 April 2024
Additions
Disposals
Revaluations
Realised Gain
At 5 April 2025
**Net book value**
At 5 April 2025
_At 5 April 2024_
The historical cost of the quoted investments and securities is £4,937,545_(2024: £4,463,732)_.
**11.**
**Debtors**
**2025**
**£**
**Due within one year**
Tax recoverable
**74,975**
**12.**
**Creditors: Amounts falling due within one year**
**2025**
**£**
Accruals and deferred income
**11,820**|**Quoted**
**investments**
**and securities**
**£**
**4,879,343**
**2,578,860**
**(2,226,110)**
**(42,003)**
**60,931**| |---|---| ||**5,251,021**
**5,251,021**| ||_4,879,343_
_2024_
_£_
_20,000_
_2024_
_£_
_11,430_| Page 16 ## **The Swallow Trust** ## **Notes to the Financial Statements For the year ended 5 April 2025** ## **13. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
General Funds - all funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds|**Balance at 6**
**April 2024**
**£**
**5,414,654**
_Balance at_
_6 April 2022_
_£_
_5,231,790_|**Income**
**£**
**435,769**
_Income_
_£_
_184,164_|**Expenditure**
**£**
**(227,558)**
_Expenditure_
_£_
_(199,124)_|**Gains/**
**(Losses)**
**£**
**17,025**
_Gains/_
_(Losses)_
_£_
_197,824_|**Balance at 5**
**April 2025**
**£**
**5,639,890**| |---|---|---|---|---|---| ||||||_Balance at_
_5 April 2023_
_£_
_5,414,654_| ## **14. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2025**
**£**
5,251,021
400,689
(11,820)
5,639,890|**Total**
**funds**
**2025**
**£**
**5,251,021**
**400,689**
**(11,820)**
**5,639,890**| |---|---|---| Page 17 ## **The Swallow Trust** ## **Notes to the Financial Statements For the year ended 5 April 2025** ## **14. Analysis of net assets between funds (continued)** ## **Analysis of net assets between funds - prior year** |Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_4,879,343_
_546,741_
_(11,430)_
_5,414,654_|_Total_
_funds_
_2024_
_£_
_4,879,343_
_546,741_
_(11,430)_
_5,414,654_| |---|---|---| ## **15. Related party transactions** Donations of £300,000 _(2024: £80,000)_ were received from a trustee of the charity, Anthony David Swallow, during the year. There were no other related party transactions. ## **16. Controlling party** The charity is controlled by the trustees of The Swallow Trust. ## **17. Analysis of grants and donations made** |Cardiomyopathy UK
Cheshire Community Foundation
Cheshire Connect
Colin and Bronwen Cleaver
Cre8 Macclesfield
East Cheshire Hospice
Just Drop In
Open Doors with Brother Andrew
St Chad’s Church Leasowe
Rossendale Trust Limited
Space4Autism|**2025**
**£**
**-**
**10,000**
**5,000**
**5,000**
**37,500**
**40,000**
**25,000**
**10,000**
**15,000**
**15,000**
**15,000**
**177,500**|_2024_
_£_
_10,000_
_-_
_-_
_5,000_
_35,000_
_40,000_
_22,000_
_-_
_-_
_12,000_
_22,000_
_146,000_| |---|---|---| Page 18 ## **Issuer** ## HURST Accountants **Document generated** Thu, 29th Jan 2026 12:34:17 GMT **Document fingerprint** 913b04947bc81a5f001b36000ef928ab ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Thu, 29th Jan 2026 14:44:12 GMT Fri, 30th Jan 2026 13:08:58 GMT Fri, 30th Jan 2026 13:08:58 GMT Heidi Swallow Purvis - Signer (df005da31240015de2b8f8e0cc4ebf1c) Helen Besant Roberts - Signer (e046f445a791c9b0929929dad8bcd2a1) Joanne flynn - Copied In (acc507618d282923c1f16397b44b4117) ## **Audit history log** ## **Date** ## **Action** Thu, 29th Jan 2026 12:34:17 GMT Envelope generated by Alex Burgon (82.132.236.175) Thu, 29th Jan 2026 12:34:17 GMT Document generated with fingerprint 913b04947bc81a5f001b36000ef928ab (82.132.236.175) Thu, 29th Jan 2026 12:34:17 GMT Document generated with fingerprint 9ff1afaeeafbf2ebbf1eecc557a8aa08 (82.132.236.175) Thu, 29th Jan 2026 12:34:17 GMT Document generated with fingerprint ae9f9acfdaaaa1b21a0ee4e6441c3797 (82.132.236.175) Thu, 29th Jan 2026 12:34:17 GMT Document generated with fingerprint 55b1ff3bc213d0330ebc741ce18f7076 (82.132.236.175) Thu, 29th Jan 2026 12:34:17 GMT Document generated with fingerprint 31943e94d7adf73c2c99299fd275e655 (82.132.236.175) Thu, 29th Jan 2026 12:47:27 GMT Sent the envelope to Heidi Swallow Purvis (hpurvis15@gmail.com) for signing (82.132.236.175) Thu, 29th Jan 2026 12:47:29 GMT Document emailed to hpurvis15@gmail.com Thu, 29th Jan 2026 12:51:41 GMT Heidi Swallow Purvis opened the document email. (150.228.9.197) Thu, 29th Jan 2026 14:37:42 GMT Heidi Swallow Purvis opened the document email. (66.249.93.76) Thu, 29th Jan 2026 14:37:50 GMT Heidi Swallow Purvis viewed the envelope (150.228.9.197) Thu, 29th Jan 2026 14:44:12 GMT Heidi Swallow Purvis signed the envelope (150.228.9.197) Thu, 29th Jan 2026 14:44:12 GMT Sent the envelope to Helen Besant Roberts (hbr@hurst.co.uk) for signing (150.228.9.197) Thu, 29th Jan 2026 14:44:14 GMT Document emailed to hbr@hurst.co.uk Thu, 29th Jan 2026 14:44:36 GMT Fri, 30th Jan 2026 12:48:05 GMT Fri, 30th Jan 2026 12:48:26 GMT Fri, 30th Jan 2026 13:08:18 GMT Fri, 30th Jan 2026 13:08:18 GMT Fri, 30th Jan 2026 13:08:25 GMT Fri, 30th Jan 2026 13:08:58 GMT Fri, 30th Jan 2026 13:08:58 GMT - Fri, 30th Jan 2026 13:08:58 GMT Fri, 30th Jan 2026 13:08:58 GMT Helen Besant Roberts opened the document email. (85.210.240.131) Document emailed to hbr@hurst.co.uk Helen Besant Roberts opened the document email. (85.210.240.79) Helen Besant Roberts opened the document email. (149.107.64.226) Helen Besant Roberts opened the document email. (149.107.64.226) Helen Besant Roberts viewed the envelope (149.107.64.226) Helen Besant Roberts signed the envelope (149.107.64.226) Sent the envelope to Joanne flynn (joanne.flynn@hurst.co.uk) for signing (149.107.64.226) This envelope has been signed by all parties (149.107.64.226) Signed document confirmation emailed to hpurvis15@gmail.com (149.107.64.226) - Fri, 30th Jan 2026 13:08:58 GMT Signed document confirmation emailed to hbr@hurst.co.uk (149.107.64.226) - Fri, 30th Jan 2026 13:08:58 GMT Signed document confirmation emailed to joanne.flynn@hurst.co.uk (149.107.64.226) - Fri, 30th Jan 2026 13:08:58 GMT Signed document confirmation emails have been sent to all parties. Document URL: https://api.signable.app/shareable/envelope?t=e906713d-98e2-429b-b6ba-f bd2aa12f2a7 (149.107.64.226) Fri, 30th Jan 2026 13:10:47 GMT Document emailed to joanne.flynn@hurst.co.uk