2025-03-31-accounts - The Community Foundation For Wiltshire & Swindon

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Report and

Financial Statements for the year ended 31 March 2025

The Community Foundation for Wiltshire & Swindon trading as Wiltshire & Swindon Community Foundation Registered charity number: 1123126 Registered company number: 6504318

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

CONTENTS	PAGE NUMBER
Trustees’ Report	2 - 32
Independent Auditor’s Report	33—35
Statement of Financial Ac�vi�es	36
Balance Sheet	37
Statement of Cash Flows	38
Notes to the Financial Statements	39 - 61

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Trustees’ Report

The trustees are pleased to present their report and financial statements of The Community Foundation for Wiltshire & Swindon (the Foundation), now known as Wiltshire & Swindon Community Foundation and previously known as Wiltshire Community Foundation, for the year ended 31 March 2025. The report has been prepared to meet the requirements of a directors' report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice, published in October 2019, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Introduction

Wiltshire & Swindon Community Foundation is an independent charity dedicated to inspiring local philanthropy and giving to support the voluntary sector in tackling disadvantage and strengthening local communities.

We are the oldest Community Foundation in the UK and Europe and are celebrating our 50[th] anniversary in 2025.

We provide a tailored philanthropy service to individuals, families, businesses, trusts, and organisations who want to give something back to their local area. Our approach considers their charitable giving objectives and motivations as well as the level of involvement required and whether they wish their funding to have a long-term or immediate impact.

While we offer a broad range of giving options, we believe that to meet the future needs of our communities we need resources with longevity. Many of our donors set up named endowment funds with us, providing a long-term lasting community asset for people in our county.

Our endowment is made up of 167 named funds, valued at £29.7 million at 31 March 2025. The funds are invested with two experienced investment management firms, whose objective is to maximise return over the medium and long-term without taking unnecessary risks. The returns generated are available to support individuals and local communities through our grant programmes.

As a result of the generosity of local people, we have grown into one of the largest grant-giving organisations in Wiltshire and Swindon. Each year we award hundreds of grants across a range of grant programmes. Our funding mainly focuses on two areas: supporting grassroots charities and community groups to tackle disadvantage and inequities in their communities, and improving the development, learning, and future employment prospects of disadvantaged young people.

We strive to ensure that our grant-making is as open, supportive and flexible as possible so that it can be accessed by voluntary groups regardless of their experience in making applications. We prioritise funding to grassroots and small to medium-sized organisations where we know our grants will have a big impact. Alongside this, we also invest resources in equipping the local voluntary sector and individuals with skills, knowledge, and information through our Funder+ programme. We provide advice and support to people applying for grants as well those thinking about applying or those wanting to know more about the voluntary sector in our county. We also run a range of Meet the Funder sessions to enable groups to access funding from other organisations and provide opportunities for them to network and share best practice. We work closely with Wessex Community Action and Voluntary Action Swindon, signposting people and organisations to them as the county's voluntary sector infrastructure organisations.

As part of our Funder+ work we play an important role in community leadership, championing and advocating for the wider voluntary sector by participating in many cross-sector networks and local partnerships alongside local authorities, health, police, and other key organisations. Through this strategic engagement, along with our other Funder+ activities, we are helping to inform local policy and decision-making, increasing both the impact of our work and the wider sector.

1All reference to “Wiltshire” or “county” throughout this document is geographical and therefore always includes Swindon unless stated.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Introduction - continued

As a result of the relationships we have built, and the numerous interactions we have with local charities, groups, and the wider voluntary sector, we are uniquely placed to understand the key needs and issues across the county. We build on this knowledge by undertaking or commissioning in-depth research into local need. This informs our grant-making priorities as well as enabling us to advise those who want to give locally on the most pressing needs and issues and how their support can have the greatest impact.

The Foundation is one of 47 members of the UK Community Foundation (UKCF) network. Through the network we benefit from sharing our collective knowledge and experience as well as having the opportunity to access national funding for our local communities. We also complete a Quality Accredita�on programme through UKCF. Introduced in 2007, it ensures an expected standard across community founda�ons. Now in its 6[th] itera�on, foundations are assessed across various areas. These include governance, finance and investment management, operations, philanthropy, grant making and stakeholder engagement. Achieving Quality Accreditation endorses our ability to manage trusts and philanthropic funds, and to deliver strategic grants programmes to effectively support our communities.

Our new identity

As we celebrate our 50[th] anniversary in 2025, we felt it was the right time to reflect on everything that has been achieved as well as looking forward to the future. Our new name and brand not only pay homage to our 50-year history by reintroducing Swindon, but it also represents our role as a community foundation; to act as a connector within our communities.

Aims and objectives

March 2025 saw the end of our current 5-year strategy. As part of our strategic planning for the next 5 years, we completed a full review of our aims and objectives.

The objects of the Foundation are unchanged and remain: "the promotion of any charitable purposes for the community in the county of Wiltshire including the borough of Swindon and its immediate neighbourhood and other exclusively charitable purposes in the United Kingdom which are in the opinion of the trustees beneficial to the community with a preference for those in the area of benefit."

We aim to meet our charitable objects through delivering our vision, our mission, and our strategic objectives.

Vision: Fair, resilient and thriving communities across Wiltshire and Swindon

Mission: To grow sustainable funding for Wiltshire and Swindon, forge partnerships and create a culture of giving that helps meet local needs and empowers the voluntary sector to tackle challenges and seize opportunities

Our Values: Underpinning our work are our values, expressed as the BRICKS ” upon which the Foundation is built and values we live and operate by:

Brave: We take bold steps to address challenging and sometimes uncomfortable issues that affect our local community. We lead with courage in addressing inequities, asking for and securing more funding for Wiltshire and Swindon, pushing for change, and taking informed risks. We are not afraid to tackle sensitive or complex issues like poverty, mental health, or social exclusion. We pilot and trial new concepts to maximise our impact. We invest in people, programmes and projects that have the potential to have a transformative impact on the community.

Representative: We advocate for under-represented groups, ensuring that voices within our community are heard and supported. We are committed to reflecting the diversity of our county’s population in our teams, our decisionmaking, our grant-making, our philanthropy advice, our partnerships and with our suppliers. We actively listen to and engage with a wide range of community members, decision-makers, philanthropists, influencers and stakeholders, ensuring our programmes and support reach people of all backgrounds, particularly marginalised and underrepresented groups. We ensure that no-one is left out, tailoring our support to meet the specific needs of our local communities.

Report and Financial Statements for the year ended 31 March 2025

Aims and objectives - continued

Informed: We make decisions based on data, evidence, and community insight. We have a deep understanding of the challenges our local communities face and listen to how we can best respond. We use research, data and local insight to identify pressing issues and shape our programmes and our philanthropy advice. We conduct needs assessments and collaborate with local experts to ensure our donor funds, grant-making, advocacy and community support is focused on where they can have the greatest impact. We complete regular evaluations and feedback loops allowing us to adapt our approaches as needed.

Collaborative: We work closely with local community groups, businesses, professional advisors, philanthropists and public sector organisations in all our work. We pool resources, ideas and expertise to increase impact and foster partnerships that align resources and efforts towards shared goals and ambitions. We bring together donors, volunteers and local experts to create solutions that address both immediate needs and long-term challenges.

Kind: We work with genuine care for people’s wellbeing, enabling us to foster trust and community spirit. All interactions emphasise respect, understanding and kindness. We are accessible and supportive, treating everyone fairly and with empathy, enabling us to build strong, trusting, positive relationships.

Strategic: We use our resources effectively to create long-term, sustainable impact. We set clear goals and make thoughtful, forward-thinking decisions. We use our values to ensure we align with our broader goals of thriving communities and fairness. We prioritise projects that not only address immediate needs but also contribute to systemic change. We provide support that leads to long-lasting improvements in the community, such as enhancing education, employment opportunities and social cohesion.

Destination Statement: We are an inspirational and aspirational organisation, which people want to be part of. We are responsive, relevant, and known in the community. We are widely recognised, and valued for our knowledge, grant making and advice. People are making a difference by working with us.

Strategic objectives - 5-year strategic plan April 2020 - March 2025

Over the past five years, we have successfully delivered on the strategic goals outlined in our 2020-2025 organisational strategy. A key milestone was the commitment to invest £10million in local communities, which was achieved through targeted grant-making and providing support and advice to the sector and applicants, we were able to do this by inspiring philanthropy and building and developing partnerships with donors and organisations. In total we invested £10.9 million against the £10 million target.

In addition to meeting this target, we wanted to ensure it was achieved in a sustainable way. In 2020/21, due to the Coronavirus pandemic, we delivered more in grants and advice and support than we had ever done before, but we knew this wouldn’t be immediately sustainable, we challenged ourselves to build back to this amount by year 5 of our strategic plan period. The following graphs illustrate this and show in 2024/25 we awarded our largest ever investment in communities within a single year at £2.5 million.

Report and Financial Statements for the year ended 31 March 2025

Strategic objectives - 5-year strategic plan April 2020 - March 2025 - continued

This investment has supported disadvantaged individuals and empowered local community groups and voluntary organisations to tackle critical challenges stemming from the Coronavirus pandemic and the cost-of-living crisis, including poverty, mental health, education and social isolation, improving the lives of thousands of residents across Wiltshire and Swindon.

Digital transformation was another key strand of our last strategy – during the last 5 years we have invested in our digital maturity, implementing new systems including Salesforce and Xero, along with a new digital telephone system and HR system.

We have also become a Living Wage employer, introduced an annual EDI survey of our team and trustees which we share on our website, have become a member of the Association of Charitable Foundations and have signed up to their Funder’s Commitment to Climate Change.

With a strong focus on community engagement, the Foundation deepened its understanding of local need and streamlined processes following the Coronavirus pandemic, becoming an even more informed and flexible funder. By inspiring new donors, growing charitable funds, and building collaborative partnerships, we have strengthened our role as a key driver of positive change. We have developed programmes with the local authorities and the NHS / Integrated Care Board (ICB) to ensure funding reaches grassroots organisations making a real difference throughout our communities. We have continued to build a sustainable source of funding, with our endowment now valued at just under £30 million, whilst increasing our reach, impact and commitment to supporting Wiltshire and Swindon’s voluntary sector.

New 5-year Strategic Plan - 2025 - 2030

During 2024/25 the trustees and team have developed and agreed a new strategy for the next 5 years.

The Strategic Planning process started in November 2023. The overarching objective was to develop the new 2025-2030 strategy in consultation with internal and external stakeholders by the end of December 2024 with the Board approving the plan in February 2025. The objective breakdown structure used for the project included objectives for managing the project, identifying the key internal and external stakeholders involved, the information required to inform the project, the process and other supporting work that would bring added value.

We used various methods to involve stakeholders including, workshops, surveys, interviews, strategy days, secondary research and deep dive discussions. Stakeholders included, trustees, team members, donors, supporters, funders, beneficiaries, partners and applicants.

The Joint Chief Executives led the project team and were supported by the People & Governance committee throughout the process. We were pleased with the level of engagement and participation and the quality of contributions and discussions. However, developing the strategy did increase the pressure on resources within the team and timescales involved meant several engagement sessions had to happen over the summer months when trustees and team members were unable to attend. We tried to balance team engagement with increased work pressure, although at times this was difficult.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

New 5-year Strategic Plan - 2025 - 2030 - continued

The trustees approved the final plan in their February 2025 Board meeting. We agreed new strategic priorities and received good levels of engagement across all stakeholder groups reinforcing relationships and increasing awareness. We have greater clarity of our vision, mission, values and commitments and have a robust long-term financial plan to accompany the strategy.

Using a “plan, do, review, improve” framework has helped us identify key learning to take forward into future strategic planning cycles. We have agreed that we would use similar project management tools for future plans, we would launch stakeholder engagement earlier in the process and would try to avoid the summer months for key consultations. We would also consider additional administrative support for the Joint Chief Executives during the strategy development process.

The strategic development planning process developed by the Joint Chief Executives and approved by the People & Governance committee enabled a smooth delivery of our new organisational strategy, without detracting too much resource from our core activities.

Providing regular updates on the strategic planning process to the People & Governance committee ensured we remained on course to deliver on the plan objectives.

The new 2025-2030 strategy has been developed in collaboration with the team, trustees and with other key external stakeholders - this has helped us ensure it is ambitious but also realistic and achievable.

Throughout our strategic consultation, three clear areas of focus emerged: the need to tackle inequity and support fairer communities for all, the need to build community resilience and the need to champion and support our local voluntary sector.

Our new strategy calls for progression in all areas of our organisation, and we know that to succeed, we will need to continue to streamline our processes and enhance efficiency across our organisation through continued digital transformation, including AI solutions. This will allow us to maximise our impact and invest more resources in the communities we serve.

Progression will only happen if we raise our profile, amplify our brand and find our voice. We must advocate for increased philanthropy, champion the local voluntary sector, leverage other sources of funding and use our impact reporting to evidence that change can happen when we all work together. This requires us to be a trusted partner at a local decisionmaking level and to support national advocacy for place-based giving and philanthropy, the voluntary sector and the community foundation network.

Over the last five years, we have achieved significant growth across all areas. During the last plan period we defined six key commitments we believe make us the county’s leading independent funder for local communities. These commitments are reinforced through our new strategy which reflects the importance of every commitment we make and will help us build on what’s strong so we can tackle what’s wrong.

We listen and respond to local need

Objective: By the end of March 2030, we will have further refined our system for listening and responding to local needs, using insights from community networks, grant applications, assessments and due diligence, grant decision-making panels, end-of-grant reporting, statistical analysis (OCSI – Needs Analysis), public sector partnerships and the UKCF and global community foundation network. This will directly inform our philanthropy advice, grant-making and social investment decisions, ensuring that at least 80% of our funding addresses priority areas identified through this process.

We enable more and better philanthropy and local giving

Objective: By the end of March 2030, we will have increased local philanthropy by engaging new individuals, families, business and corporate donors, raising £10 million in flow through donations and £5 million in endowment funds. We will use our resources and our systems effectively to deliver tailored philanthropy advice supported by regular stewardship, communication and impact reporting, championing place-based giving (give where you live), and ensuring donors give strategically to address local needs. We will develop our CSR toolkit for businesses and corporates, develop more endowment match funding offers, we will expand our philanthropy offer to include social investment, strengthen

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

New 5-year Strategic Plan - 2025 - 2030 - continued

relationships with professional advisors and develop multi-year strategic partnerships. We will increase our profile across all audiences with effective, evidence-based storytelling.

We are a supportive and flexible funder

Objective: By the end of March 2030, we will have become an even more informed, flexible and innovative funder, expanding our role as a place-based supporter of grassroots community groups and young people. We will enhance our traditional grant-making model and diversify our funding offer to include social investment initiatives. Embracing best practice use of AI and adhering to IVAR’s open and trusted grant-making framework, we will streamline processes and increase transparency for those seeking our support.

We are a values based organisation

Objective: By the end of March 2030, we will be a leading values-based organisation, driving transformational philanthropy and community investment in Wiltshire and Swindon. Grounded in our core values— Brave , Representative , Informed , Collaborative , Kind , and Strategic —we will foster a positive organisational culture that embraces AI and digital innovations, ensuring our operations are more efficient, accessible, equitable, and environmentally sustainable. We are also committed to being a fair, supportive, and inclusive employer, prioritising staff wellbeing and development as we grow and evolve.

We are growing a sustainable source of funding

Objective : By the end of March 2030, we will significantly grow our endowment to meet the evolving needs of local communities in Wiltshire and Swindon. We will offer a comprehensive suite of services for potential donors, including match funding, legacies, trust transfers, thematic, geographic, named, donor-advised, and donor-restricted funds. Our team— comprised of staff, trustees, patrons, and ambassadors—will confidently advocate for our endowment.

We will optimise the impact of our endowment as a vital community asset, exploring innovative funding models such as impact investing to maximise value for local communities.

We forge partnerships that deliver positive change

Objective : By the end of March 2030, we will have strengthened and expanded our network of partnerships to drive transformative change across Wiltshire and Swindon. We will forge and develop existing meaningful collaborations with the local voluntary sector, other foundations, charitable trusts, the public sector, corporates and businesses, networks, advocacy groups, infrastructure organisations, media, investment managers, professional advisors, and sponsors. These partnerships will enable us to co-create innovative solutions, deliver impactful projects and reduce duplication, while raising our profile and enhancing our ability to address community needs more effectively. Every partnership will help amplify our efforts to tackle inequity, build resilience and champion the local voluntary sector.

Our plans for 2025/26

We will continue to work towards the delivery of our 5-year strategic objectives as stated above.

During 2025/26 our key financial targets are as follows: we plan to award grants of £2.7 million, secure endowment donations of £0.5 million and flow-through donations of £2 million.

The Need in our County

We research need throughout the county, collaborating with and bringing together organisations to help develop the charitable sector and feeding back the insights gained to our donors, our stakeholders and to our team, ensuring that our work is targeted at key areas of need. During 2025/26 we will continue to work with Oxford Consulting for Social Inclusion (OCSI) and roll out an external version of Local Insights, enabling access to this tool to anyone who needs to use it. Through stakeholder consultation we will refine and develop the system, monitoring its usage and usefulness. We will also look at financial vehicles other than grants for organisations that we work with, this may involve piloting social investment loans and blended finance options, these will be driven by the needs of the organisations we are working with.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Our plans for 2025/26 - continued

Equity, Diversity, and Inclusion (EDI)

We value diversity and treating people fairly. We recognise that people bring different perspectives, experience, ideas, knowledge, and insights that will help us to develop all areas of our work. During 2025/26, through our grant making and community leadership work, we will ensure that the views of individuals and organisations throughout the county whose voices are often underrepresented are sought and heard. We will continue to investigate and invest in digital enhancements that will improve the accessibility of our grant programmes, looking to address barriers and extend our reach into communities.

We want our trustees, volunteers, and operational team to reflect the county we live in. We will build on work completed during the last 5 years which assessed our operational and trustee team diversity against benchmarks based on county census data, extending this to our volunteers. We will continue to review and improve employment and recruitment policies, ensuring we are maximising opportunities to extend our diversity.

Whilst we recognise the importance of increasing our diversity, we also recognise that individuals should not have to disclose information regarding their own lived or learned experiences or diversity to satisfy our desire to increase our organisational diversity. In any analysis or data collection relating to our organisational diversity, we will always offer an option to not take part or to respond with “prefer not to say”.

Climate Emergency

The effects of global warming are already apparent across the world. They will increasingly affect both individuals and organisations. During 2025/26 we will continue to minimise our carbon footprint, by heating and lighting our offices with green electricity and biogas, by reducing travel and continuing with flexible working. We will continue to monitor ourselves against the Association of Charitable Foundation’s Funders Commitment to Climate Change, building on our first year of assessment in 2024/25.

As part of our wider strategic plan development, we will consider introducing sustainability related questions in our application and assessment processes and will continue to share and gain knowledge and experience where appropriate.

Our investment policy requires our investment managers to adhere to industry best practice when screening investments for compliance with Environmental, Social and Governance principles and we will expect our investment managers to report back to us on this. We also ask them to be signatories of the UN Principles of Responsible Investment and to be participating in Climate Action 100+, an investor-led initiative focused on enhancing climate change governance, emissions reduction, and climate related financial disclosures.

UN Sustainable Development Goals

The UN Sustainable Development Goals are a plan agreed by all world leaders to build a greener, fairer, better world by 2030, and we all have a role in achieving them. For several years, we have been engaging with, promoting, and developing how we can use the goals throughout our work. In addition to reporting the impact of our grants against them, we have engaged stakeholders in discussions about how their local action can have a global impact. We have delivered this work through our networks and other engagement conversations, raising awareness of the local relevance of the goals. We will continue our work in this area throughout 2025/26.

Digital transformation

Building on the work completed during the last 5 years, digital transformation and development continues to be a key thread throughout our new strategic plan. We will continue to embrace, develop, and grow our digital capabilities, including utilising AI where appropriate, enabling us to be more effective and efficient. During 2025/26 we will continue to develop our skills, processes, and knowledge within our systems, building on efficiencies and ensuring we provide excellent digital experiences for all our stakeholders, enabling us to deliver more funding to our communities and ensuring sustainable growth across the organisation. We will build on efficiencies through our new finance system which was implemented in April 2024, ensuring that we harness effective and efficient financial processes with full integration between other systems.

Report and Financial Statements for the year ended 31 March 2025

Public benefit

The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the Foundation's aims and objectives and in planning future activities and setting the grant-making policy for the year.

Achievements and performance

Grant-making

As highlighted in last year’s trustees’ report, we planned to award £2.05 million in grants during 2024/25. We exceeded this, awarding a total of £2,518,370 across 405 grants to community groups and individuals in the county through 26 different grant programmes.

The total awarded by the Foundation since 1975 at the end of March 2025 was just under £27 million and we delivered our key strategic objective of investing £10 million through financial grants and support during the period April 2020 – March 2025.

We identified five themes for our grant-making in 2024/25 drawing on the insights provided by our statistical needs analysis of the county along with insight from our many stakeholder conversations. Grants were awarded across these five themes as follows (note that grants can address multiple themes):

Supporting children and young people 255 grants Preventing or alleviating poor mental health 256 grants Tackling poverty and inequality and its effects 291 grants Supporting older people (65+) only 56 grants Supporting women and girls only 93 grants

We report the impact of our grants against the UN Sustainable Development Goals (SDGs). During 2024/25 the grants we awarded contributed to 14 of the 17 SDGs and had the most significant impact on:

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

As in previous years, a small amount of our grants awarded, either in current or previous years, were returned to the Foundation or unallocated before payment. In 2024/25 the total amount returned was £54,256. Grants were returned or unallocated due to: students not continuing with their studies (£37,600), closure of recipient groups (£13,000), funds being returned as not used in the required timeframe (£3,021) and grants being awarded but then being withdrawn by recipient before grant was paid (£635). In 2023/24 £70,132 was returned or unallocated.

During 2024/25, we continued reviewing our grant-making processes, ensuring that they were as effective and efficient as possible.

We continue to balance due diligence and informed grant decisions with efficiency and proportionality for the Foundation and applicants. We seek to fund groups or individuals regardless of their experience in making grant applications and actively help all applicants. Our end of grant reporting aims to be simple and useful to grantees. Our processes continue to be informed by the “open and trusting grant-making” approach developed by IVAR in early 2021, which seeks to minimise the information required from applicants before and after a grant and to build strong relationships between funder and funded. We will continue and build on this approach in 2025/26.

From a total of 583 applications started in 2024/25, 239 of the applications were for grants to individuals and 344 were for grants to groups. The success rates vary between these two main types, and within specific programmes.

For individuals, 56 applications did not reach panel stage. Our individual grants are for younger people, many of whom are still school age. Often their plans change, and the applicant withdraws, or despite our best efforts we cannot contact an applicant to complete our assessment. Occasionally applicants are ineligible because they live outside of Wiltshire or because their household doesn’t meet means tested benefits criteria that might apply. Sometimes a young person secures alternative funding and withdraws their application.

19 applicants were unsuccessful at panel stage. The majority of these (14) were applications for SWEF business grants where the final decision is with the donor – applicants were mainly unsuccessful because plans were not well developed, or it was felt there wasn’t a strong enough fit with the fund’s priorities. On the University Bursary programme, 4 applicants were put on a reserve list in case other higher priority applicants did not go ahead with their plans (for example because of academic results) but ultimately were not funded. At panel stage the average success rate across individual programmes was 69%.

For groups, 55 applications did not reach panel stage. The majority of these (36) were to our Community Grants programme. This reflects the fact that this programme receives the highest number of applications per year, being open year-round with quarterly decision points. A variety of reasons for not reaching panel included ineligibility, such as being a national organisation (without a separate committee and bank account for the county branch), already holding a Community Grant, delivering work that did not align with the programme criteria, or having inadequate governance or application information which we felt couldn’t be adequately addressed during the application window.

At panel stage, 52 applicants were unsuccessful across all programmes for groups. Due to the variety of programmes we run, there will be variations in the reasons for not being successful, but in the main, programmes are oversubscribed so panels award grants to those with the strongest fit to programme priorities. The average success rate across group programmes was 69%, but varied widely between programmes, from 34% to 100%.

All unsuccessful applicants are given feedback, including further guidance where appropriate and signposting to other sources of funding as available.

The Grants team and the Marketing team work closely together to regularly review the promotion of our grants programmes and help applicants at the earliest opportunity to understand the parameters of each programme. During 2024/25 we have continued to respond to applicant feedback and review information on our website regarding the grant making process, to ensure information is clear, concise and easy to understand. We want to ensure that eligibility criteria is clear and reassure applicants that they can always call us before starting any application. Our supportive funder approach, with assessment meetings online or in person, also help applicants with the process and can offer useful signposting, whether it’s other sources of funding, strengthening governance, safeguarding and equalities, or advice on presenting finances. New guidance notes have been produced for many of our programmes, and these have helped applicants not only to decide whether to apply, but if so, to also submit the information needed to enable our decision making. Grant decisions are made by panels of the Foundation’s trustees and local people with experience or skills relevant to the programme; some panels will also involve donor representatives where relevant, such as the Police and Crime Commissioner’s Community Action Fund.

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

The Foundation is extremely grateful to the 31 volunteers who took part in grants panels during 2024/25.

Grants to groups

In 2024/25, 80% of grants awarded (£2,022,351 through 238 grants) was awarded to 162 different organisations, 37 organisations (23%) received a grant from the Foundation for the first time. This compares to 78% of the grants total (£1,628,810 through 211 grants) being awarded to 157 different organisations in 2023/24 when 52 organisations (33%) received a grant from the Foundation for the first time.

Many of the organisations we fund are micro, small, and medium groups. Over 69% (165) of our grants were awarded to groups with an income of less than £250,000 per year. Grants to these groups average just under £5,000, a relatively small amount, but we know that focussing our funding on smaller grassroots organisations who understand the specific challenges faced in their areas and are well placed to build relationships and support their communities, ensures our funding reaches those who need it most and has the most significant impact it can.

51% of our grant making went to micro and small groups (using NCVO categories this is up to £100,000 income per year), with a further 35% going to medium organisations. The remaining 14% was awarded to larger organisations working across the county, many aligned to specific programmes such as our Surviving Winter programme where we work with partner organisations including the Centre for Sustainable Energy, Wiltshire Citizens Advice and Swindon Citizens Advice.

Most of the grants awarded to small, micro and medium groups are delivered through our flagship grants programme, Community Grants. This programme offers sustainable funding for projects and core costs, with up to £5,000 per year for up to 3 years to organisations addressing the most pressing needs and issues in the county. This year we prioritised three key areas through our Community Grants programme: addressing poverty and its effects, supporting children and young people, and preventing or alleviating poor mental health.

Nearly 24% of our total grant making to groups is awarded through this programme. In 2024/25, we awarded 76 Community Grants, of which 38 were multi-year, and of those, 23 were 3-year grants. In 2023/24, we awarded 66 community grants of which there were 33 multi-year grants, of which 23 were 3-year grants.

Working with smaller groups is where our supportive and flexible approach to funding can really add value, including signposting to other areas of support and funding, as well as playing a ‘critical friend’ role on issues such as articulating need, financial planning, or strengthening governance.

Importantly, as well as offering grants for specific projects, the programme provides core funding. Core funding is vital, providing a degree of financial stability to deliver essential services and crucially, to give groups breathing space to take stock and look at work more strategically. It also offers flexibility to groups, trusted to allocate resources where they are needed most, and supporting internal capacity building to encourage innovation and improved efficiencies and outcomes.

One of our roles as a community foundation is to inspire philanthropy and utilise our networks and influence to direct funding into our county to support the vital work of the local voluntary sector. Our Wiltshire Energy, Food and Community Support programme saw us partner with Wiltshire Council to deliver government funding, collaborating with key groups in the county that are experts at reaching individuals most in need.

This programme distributed funds from the UK Government's Household Support Fund, awarding over £495,000 to 27 organisations providing direct assistance to vulnerable households most affected by the rising cost of living. The support included grants for utility bills, household items such as cookers, heaters, fridges, carpets and electric blankets, as well as food items, vouchers, and transport costs. Overall, the program supported 1,564 households across the county, benefitting an estimated 3,264 adults and children.

We worked with UK Community Foundations (UKCF) this year to deliver two new programmes for the Foundation. Firstly, the Sir George Earle programme, was a single year programme with very similar aims to our Older People’s programme. We were able to deliver £25,200 in small one-year grants (maximum grant amount £3,000) to 11 groups working to make a positive difference to older people in our county.

UKCF also launched a new programme this year to support care-experienced young people, aged 18-25, with the support of the Local Authorities Mutual Investment Trust (LAMIT), and investment management firm CCLA. Following a competitive bidding process, we were one of 17 Community Foundations to be selected to run the Care Leaver programme. We were awarded £44,000 per year for three years. Part of the criteria of the programme is that the foundation needs to match the

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

funding from donors and partners within our county, resulting in an £80,000 per year programme for three years. We are very pleased to confirm that the match targets for years 1 and 2 have been achieved. This is a targeted programme, we have worked closely with our two local authorities, Swindon Borough Council and Wiltshire Council, and with specific groups able to support care-experienced young people, to develop the programme and learn where we can have the greatest impact with the funds available. We have focused on three key areas; mentoring, educational opportunities and supporting experiences and fun. Going forward we will continue to assist in these three focus areas, with a particular emphasis on mentoring. With the invaluable support of corporate donor Dick Lovett Foundation, we will continue to seek support to extend this work for a total of at least five years.

Targeting Health Inequalities Wiltshire (THIW) was a small grants programme funded by the Wiltshire element of the BANES, Swindon and Wiltshire Integrated Care Board of the NHS (BSW ICB). Focusing on the ICB’s “Core20” areas (most deprived across multiple indices of deprivation in Chippenham, Melksham, Salisbury and Trowbridge) our programme helped smaller groups access ICB funding to demonstrate how preventative and early intervention work at the local level led by trusted community groups can tackle health inequalities. Our involvement also brought in additional funding for the programme from our own donors, with an additional £29,786 available for grant making.

In total £117,286 was awarded to 12 projects across all Core20 areas (some working in multiple geographies) with grants of up to £10,000. Projects addressed the wider social determinants of health, particularly within the social and community context, which includes factors like family, friends, and community support systems, as well as social norms and cultural influences. Several projects piloted outreach services into the Core20 areas for the first time, whilst others used existing models of service delivery but with more emphasis on measuring and evidencing the link between their work and positive health outcomes.

As part of this programme, we ran engagement and evaluation events three times during the year, to encourage collaboration, joint learning and to assist with evidence gathering and evaluation methodologies. These events were well received and provided valuable learning for how we support projects in other programmes. ICB and Public Health representatives attended the final evaluation session, which powerfully showed how community-based groups can and do positively impact health through their work, and illustrated how health bodies can partner with them to achieve a variety of prevention and early intervention outcomes for local communities. A final report combining the outcomes from the 12 projects has been provided to the ICB.

ICB funding priorities have now changed for Wiltshire in 2025/26, although two of the THIW projects have successfully accessed ICB funding directly as they could still align with new priorities. Despite the loss of continued ICB funding, most projects are continuing the work they have started and / or the methodologies they have employed, drawing on other funding to support this.

In addition to these three programmes and our Community Grants programme, we ran an additional 8 open grants programmes, working with a range of partners and funders for the benefit of people in Wiltshire and Swindon. These included programmes encouraging conservation, tackling climate change and improving the local built and natural environment.

Throughout 2024/25 we have worked closely with and listened to the voluntary sector to understand the changing nature of its challenges, being flexible and innovative in our response. Because of the willingness of funders and partners like those mentioned above to work with us and trust our expertise, we have secured the resources groups need to continue helping their communities, not just to survive but to thrive. We estimate that in 2024/25 we helped improve the lives of over 83,000 people through our grants to groups programmes.

Surviving Winter – tackling fuel poverty

Our Surviving Winter programme, now in its 14[th] year, is widely recognised across the county as an efficient and effective model for supporting those who are most vulnerable and at risk of serious harm due to fuel poverty.

During 2024/25 we continued to deliver the programme by working with trusted partners: Citizens Advice in Wiltshire and Swindon, the Centre for Sustainable Energy, through their Warm and Safe Wiltshire project, and Age UK Wiltshire, along with new partner Wiltshire Centre for Independent Living. This user-led organisation supports disabled individuals across Wiltshire and has enabled us to reach another group vulnerable to fuel poverty and its impacts.

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

The programme continued to focus on supporting the elderly and those with disabilities or health conditions by providing financial grants. However, through working with experienced and skilled partners, the programme also helps individuals and households who have a range of different and often complex needs by providing tailored advice and support. This includes practical information on keeping homes warm, recommendations for boiler replacement; income maximisation through identifying and help with claiming benefits and working with energy companies and landlords to manage energy bill debt.

Due to our close relationship with and knowledge of the local voluntary sector along with the known breadth and depth of our Surviving Winter programme, we were selected by both Wiltshire Council and Swindon Borough Council to distribute part of the Household Support Fund funded by the UK Government through the existing programme, providing essential support to those most impacted by the cost-of-living crisis in Wiltshire and Swindon and making a huge difference when people needed it most.

Due to the delivery of the Household Support Fund funding and the generosity of our own donors, we were able to award over £329,000 through the 2024/25 Surviving Winter programme, benefitting 3,013 individuals in 1,385 households. But the impact extended beyond the initial funding. Due to the expertise and knowledge of our partners, the household income of those supported by the programme in 2024/25 increased by a total of £1,472,282 annually. Since 2020, household income of those supported has increased cumulatively by over £4,590,005 annually. This fantastic collective effort has made a significant contribution to helping households move out of fuel poverty.

Grants to individuals

Our dedicated support for the education and development of young people across Wiltshire and Swindon continues to be a key area of our work. In 2024/25, across our education and enterprise programmes, we distributed over £496,000 in grants to 167 children and young people.

We strive to ensure our work is always informed by the need in our county by using the local knowledge and insight we gain from the close relationship we have with organisations working within our communities, underpinned by national research and our own findings. Because of this we know that pupils from disadvantaged backgrounds here perform poorly, both relative to non-disadvantaged pupils and compared to disadvantaged pupils elsewhere in the country.

As detailed last year, our Needs Analysis for the county highlights pockets of very high educational deprivation among children and young people living here, with 44 neighbourhoods ranked among the most deprived 10 per cent in England. Wiltshire and Swindon also have lower proportions of pupils from state schools entering Higher Education than the national average. This is true in 10 of our 15 largest towns.

2024 is the 16[th] year of our University Bursary programme, our flagship and largest education programme. Originally established in 2008 through a generous legacy donation, and now supported by several funds and donors, the programme supports young people from low-income families undertaking their first undergraduate degree or Higher Education course.

In 2024/25 we awarded bursaries totalling £414,400 to 85 students. Since 2008, we have been able to support hundreds of young people across Wiltshire and Swindon with grants totalling over £3.5 million.

The impact of these grants cannot be underestimated. Through regular monitoring and feedback, the young people consistently tell us that this support improves their mental health and wellbeing as they feel less worried about money and more confident about undertaking their studies. It helps to tackle the economic disadvantage they face, as they can afford essentials such as food, utilities, rent and course-related materials. Importantly, for many it also improves their overall education outcomes, as they felt they achieved better results because they could concentrate on their studies.

In addition to our University Bursary programme, we have been awarding grants to children and young people who need support with their education due to a physical disability, learning difficulty or health problem through our Education Support programme since 2013. We awarded £15,000 during 2024/25.

In 2023/24, the Foundation piloted a new approach to delivering its Education Support programme, focussed on young people with special educational needs. Working in partnership with two schools offering specialist provision, rather than responding to individual requests from families, support workers or schools, we have been able to enhance the programme's impact, achieve better and more targeted outcomes for individuals, and reach a greater number of children, due to the success of the approach we continued it during 2024/25. The two schools tasked with delivering this new way of working are Silverwood School in Wiltshire and Brunel Academies Trust in Swindon. Silverwood School is a co-educational school for children and young people aged 4-19 years with additional learning needs. They have circa 520 pupils on roll across the

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

campuses, 40% of whom come from ‘disadvantaged backgrounds’ and claim free school meals. The school’s catchment area is Wiltshire-wide, and children use transport funded by Wiltshire Council. Brunel Academies Trust is a multi-academy trust in Swindon made up of the following specialist provisions; 1 nursery, 2 primary schools, 2 secondary schools, 1 college and 1 mainstream primary school with a SEN unit. During 2024, a further 4 schools joined the Trust.

The programme remains focused on supporting children and young people with additional needs, from low-income families, by providing grants to support their learning and development. Schools identify beneficiaries based on the Foundation’s eligibility criteria and then procure and pay directly for necessary equipment, therapy, or extracurricular activities, rather than giving cash or vouchers to families.

We have seen this new approach allow for more agile and responsive grants, better targeted for those in most need with knowledge of family circumstances and expert understanding of the type of supported required. We have also seen greater reach to children from minoritised backgrounds as well as by age range, from 4-23 years old. Schools sourced items on behalf of families, often getting discounted prices, and were sometimes able to match fund some grants with other charitable trusts they are supported by. IT could be preloaded with apps or software appropriate for the child or young person and parents were shown by staff how to use them at home with their child. Schools report that the funding helps strengthen relationships with families and engage them in their child’s ongoing learning and development. For us, time has been spent on building relationships with schools who are SEND experts and gathering more impactful data which assists our reporting to donors and evaluating the impact and outcomes of the programme.

We con�nued to deliver our Voca�onal Grants programme which has now been running for more than 10 years. The programme helps young people aged between 14 and 25 to access and complete prac�cal, skills-based qualifica�ons and courses. These grants support a wide range of pathways, including voca�onal courses delivered by schools, colleges, sixth forms, appren�ceships, and with other independent training providers. During the year we awarded 40 grants totalling just over £30,000.

The smallest grant awarded through the programme was £300, and the largest was £1,000. The average grant size was £775. Over half of all grants funded IT equipment, including iPads, MacBooks, laptops, and printers. There was a notable drop in applica�ons reques�ng support with travel costs this year. In 2023/24, 24% of grants included a request for travel. This year, that figure dropped to just 10%. Most applicants were in college, studying BTECs, Diplomas, or T-Levels.

The SWEF Business Grant programme, delivered in partnership with SWEF since March 2022, provides essential financial support to young entrepreneurs in Wiltshire and Swindon. To date, 189 applications have been received and £131k has been awarded in grants. For 2024/25, the programme was refined and restructured into a two-tier approach, making the application process clearer and helping to manage expectations more effectively. The programme supports individuals aged 18 to 30, primarily from low-income backgrounds, helping them overcome financial barriers to launching or growing their businesses. In 2024/25, 32 grants were awarded totalling nearly £31,000.

Voluntary sector development and support for students

Alongside financial grants, the Foundation invests resources in equipping the local voluntary sector and individuals with skills, information, and encouragement to succeed, referred to as a “Funder+” approach. Our Funder+ provision in 2024/25 included our supportive approach to grant-making, advice, “Meet The Funder” sessions, dissemination of information, advocating, and convening.

Through pre- and post-application advice, grant assessment conversations, and in response to phone and email enquiries, we provide advice and guidance related to either an application to the Foundation or a group or individual’s wider development needs. This includes advice on funding or governance, referring groups to other local support organisations, and advising students on processes for accessing student finance, other bursaries and university support. Because we target smaller groups who may lack experience, and many students we support are from families unfamiliar with higher education, this encouragement and guidance is a valued part of the Foundation’s offering.

Throughout the year we continued to distribute our regular e-bulletin to over 1,000 individuals providing details of funding opportunities, training news and other sector information.

We organised one online Meet the Funder event with the National Benevolent Society. We also attended several college, school and career events to promote our University Bursaries and Vocational Grants and to help young people apply.

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

As part of our 50th Anniversary year, we organised and ran a funding conference in Devizes on our 50th birthday, 6th May 2025. This event served not only as a celebration of our dedicated and resilient voluntary sector, but also provided an opportunity to network with peers, attend workshops to assist with accessing funding and hear about developments in funder priorities such as the new strategy from The National Lottery Community Fund. There were also ample opportunities to chat with other funders and service providers. Above all it was important to us to harness the experience and expertise of the community groups we work with, and most of the workshops were co-led by local groups with practical knowledge of the workshop topic such as impact and evaluation or involving users in service design, governance, and strategy. It was a full house on the day with more than 130 attendees. Feedback after the event was very positive with plenty of great suggestions for future events, with a particular emphasis on wanting to network and learn together in person.

Community leadership

Our community leadership and partnerships activity is a core part of our Funder+ work, and aims to increase the understanding of the needs and nature of micro, small and medium groups with various stakeholders.

We strive to use our insight and community knowledge to challenge preconceptions and shape conversations which in turn help to develop new opportunities and maximise the impact we have with all our partners. We broker relationships helping to maximise the impact of the voluntary sector within the county and we convene and host networks to strengthen connections and collaborations between local groups. Our role in community leadership is key to connecting people who care with causes that matter.

We believe that by working in partnership we can create opportunities for smaller, local community groups and charities to access statutory funds whilst breaking down some of the barriers they often face in traditional commissioning environments. By working in partnership, we have been able to significantly impact on local communities, and we are wellpositioned to create even more positive outcomes for the people of Wiltshire and Swindon in the coming years.

During 2024/25, we have continued to facilitate the Wiltshire Youth Partnership, a collaboration of voluntary and community sector organisations and statutory partners involved in delivering and supporting youth work provision in the county, working together to improve the youth offer and support to young people.

We were successful in a bid to Wiltshire Council and the Office of the Police and Crime Commissioner for Wiltshire and Swindon to enable us to further develop the Wiltshire Youth Partnership’s work during 2025/26 and 2026/27. With this funding we have recruited a Youth Partnership Development Manager to continue and grow the Wiltshire and Swindon Youth Work Network, and to develop and elevate the work of Wiltshire Youth Partnership, including the development and delivery of a new Youth Capacity Building, Training and Support Grants programme. The Wiltshire Youth Partnership is part of a wider national programme supported by the Young Peoples Foundation Trust enabling us to build on learning from local youth partnerships across the country.

Another key partnership we have continued to develop, as illustrated above through our THIW programme, is with the NHS’s ICB. By actively involving ourselves in the work of the ICB we continue to highlight the positive impacts our local voluntary sector makes in helping to address health inequalities. We have also been active members of the UKCF Health Community of Practice working collectively to help highlight the contributions local community foundations make to health outcomes in local communities across the country.

Advocating for policy change and raising awareness of issues impacting our local communities has also led to new partnerships. Our long-standing partnership with the High Sheriffs of Wiltshire led to our involvement in the Ending Violence Against Women and Girls Group, and this work has continued. Following our successful International Women’s Day event in 2023, we hosted an Inspiring Confident Allyship event at Swindon Town Football Club in November 2024 to highlight the need for male allyship within these important conversations. In March 2025 we partnered with Wansbroughs for an International Women’s Day event at the Gathering Barn to further raise awareness of the cause.

During 2024/25 we further strengthened our relationship with Oxford Consultants for Social Inclusion (OCSI), creating a partnership to launch, in May 2025, Local Insight, an accessible online data platform, as a new resource for anyone keen to understand more about local people and places. We have used Local Insight internally since 2019 to inform our research into local need and we are proud to be expanding this resource to enable groups to use statistical data about local needs and priorities of communities across Wiltshire and Swindon. We also worked with OCSI in 2021 and 2023 to publish our Wiltshire and Swindon Needs Analysis reports, these have been widely used by charities, funders and partners to identify inequalities and drive change, and have also commissioned an updated Needs Analysis, to be released following the publication of the new English Indices of Deprivation later in 2025.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

We remain an active member in many key local partnerships: we continue to represent the voluntary sector at the Wiltshire Public Services Board and to participate in both the Wiltshire and Swindon Health Inequalities Groups, Wiltshire’s and Swindon’s VCS Leadership Alliances, the Wiltshire Inclusion Network, the Children and Families Voluntary Sector Forum and South-West Funders. Members of our team regularly engage with a wide range of health, local authority, and voluntary sector colleagues contributing insight gained from our grant-making and our networks to help inform strategic debates, local policy and decision-making. The local knowledge we gain from our wide range of community leadership and Funder+ activities are also key to informing our grant programmes and donor engagement.

We recognise the critical role foundations must play in addressing broader societal and environmental concerns at a local, national and global level. As one of 47 community foundations in the UK and a member of the Association of Charitable Foundations (ACF), we recognise the value in sharing and learning good practice from other foundations. As with our local networks, these national forums provide us with a rich source of information and guidance and enable us to share our experiences to advocate for change.

At the end of the 2023/24, we signed ACF’s Funders Commitment to Climate Change and our working group “The Green Team” are continuing to review and develop how we can be even more environmentally responsible across all aspects of our work. During the first year of this commitment, we focussed on improving areas such as internal waste and event planning, we intend to progress into other areas during 2025/26.

As part of our commitment to equity, diversity and inclusion in our community, we are very proud to have been accredited as a Living Wage Employer, joining a movement to challenge low pay and advocate for systemic change on behalf of people on low incomes.

During 2024/25 we have continued to spend time reviewing our practices against the Foundation Practice Rating (FPR) which is a project initiated by a group of diverse UK foundations to enhance their practices in terms of diversity, transparency, and accountability. We assessed ourselves against the updated criteria, resulting in changes to our website content for grant programmes and our organisational diversity.

Philanthropy development, donor care, advice, and stewardship

Philanthropy strengthens our community. Whether it’s giving time or money, philanthropy brings people together to support a cause that’s bigger than themselves. Without philanthropy, many needs would go unmet, and we would not achieve our vision or mission.

We are committed to encouraging people to support local community initiatives by giving money, sharing skills and knowledge and volunteering their time.

Over the last 50 years, philanthropic activity by our fund holders and supporters has enabled us to grow our endowment to over £29.7 million. This is a long-term community asset that we steward to serve our county now and, in the future, providing a stable return that enables us to fund grants and provide advice and support to local community groups and individuals, helping thousands of disadvantaged people living in Wiltshire and Swindon.

We manage and steward 167 named endowment funds and over 100 revenue funds. We ensure grants are awarded in line with donor wishes and that they receive their desired level of involvement in decision-making. We provide annual statements highlighting the key financial information for each fundholder and identifying the grants their funding has enabled us to award.

In 2024/25 we continued to work with donors, funders, and professional advisors, highlighting need within the county and the ways that their philanthropy can help to bring change within the communities in which they live and work. Our aim is to establish long-term partnerships for good within the community and we remain committed to building a culture of philanthropy throughout our county, not just for the Foundation but for the whole voluntary sector.

We work with professional advisors - solicitors, accountants, and investment advisors - to raise awareness of the options for effective local giving, enabling them to help local people make a difference in their communities and to encourage taxefficient giving.

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Achievements and performance - continued

Fundraising

As highlighted in last year’s trustees’ report, we planned to raise £0.5m in endowment donations and £1.2m in flow through donations in 2024/25. We met both targets, raising gross endowment donations of £0.5m and exceeding the target for flow through donations hitting £1.9m (over 50% above target). These figures include contributions to our core costs as agreed with donors.

7 new endowment funds were established (5 in 2023/24), 5 of these were created after we launched our Children and Young People Match Fund. We established two new legacy funds, the Joffe Fund and the John Hewlett Fund, and we also continued to work with established fundholders, many of whom added to their endowment funds during the year.

For donors, supporters and partners who prefer their local giving to be dispersed directly to local community within a short timescale our flexible flow through funds provide a solution. In 2024/25 we welcomed 12 new flow through funds (8 in 2023/24) – including the Lovett Foundation Care Leavers Fund, Dr Olivia Chapple High Sheriff Fund, Chippenham Borough Lands Charity Grants Fund, Sir George Earle Benevolent Fund, Henry Hoare Charitable Trust Fund and the Liberata Swindon Social Value Fund. These funds were set up to respond to need within the county or to support causes of issues in line with the wishes or specific interests of the donor.

As detailed above, in 2024/25 we continued to work with both Wiltshire Council and Swindon Borough Council in the delivery of the UK Government Household Support Fund, the total amount received during the year from the councils was just over £1 million, accounting for 54% of our flow through donations.

In addition to the 12 new flow-through funds, we continued to manage grant-making for existing flow-through funds including the Trowbridge Community Benefit Fund, Swindon Science Museum Solar Park Fund, Wessex Water Community Fund, Wessex Water Environmental Fund, Pargiter Trust Fund, the Surviving Winter Grants Fund, Salisbury Bursary Fund, SouthWest Enterprise Fund, Office of the Police and Crime Commissioner Community Action Fund and Wiltshire Women and Girls Fund.

Our fundraising practice was monitored and evaluated by our board of trustees to ensure we fully comply with the Charities (Protection and Social Investment) Act 2016 and Fundraising Regulations. GDPR and PECR compliance is monitored by our People & Governance committee and board of trustees. We do not use professional fundraisers, and we had no commercial participation agreements during the year.

During 2024/25 no complaints were received by the Foundation regarding its fundraising activity. We remain confident that our fundraising is compliant with the recognised standards of fundraising (set out in the Code of Fundraising Practice) as well as those required under charity law and wider law.

We are committed to observing the fundraising legislation and good practice, including safeguarding of vulnerable donors outlined in the Fundraising Regulator’s Code of Conduct, Tax legislation, the Data Protection Act 1998, the Proceeds of Crime Act 2002, and the Charity Commission Law.

We would like to take this opportunity to thank every one of our fund holders, supporters and partners who have enabled us to respond to the various needs of individuals and communities across the county.

Report and Financial Statements for the year ended 31 March 2025

Financial Review

Overall, funds have decreased from £30.7m in 2023/24 to £30.5m in 2024/25. This is primarily due to a decrease in the endowment fund value which stands at £29.7m, which is primarily due to the £0.5m investment loss for the year.

Income

Total income for the year rose from £3m in 2023/24 to £3.5m in 2024/25, an increase of 17%.

Flow through donations (net) rose by 59% to £1.9m in 2024/25. We continued to work with many long standing flow through donors, receiving donations into 26 established flow through funds. The biggest increase in funding against 2023/24, was through our continued partnership with Wiltshire Council distributing the UK Government Household Support Fund funding, which totalled £940,000 for the year, an increase of nearly £300k.

Endowment donations (net) decreased this year by 33% totalling £461k in 2024/25. They accounted for 13% of our total income in 2024/25, compared with 23% of total income in 2023/24. We continue to be fully committed to growing our endowment through working with both existing and new endowment fund holders. During 2024/25, 7 new endowment funds were established (5 in 2023/24) and as detailed previously 5 of these were due to the launch of our Children and Young People Match Fund.

Report and Financial Statements for the year ended 31 March 2025

Financial Review - continued

The table below shows our endowment donations by source for 2024/25 and 2023/24:

	2024/25	2024/25	2023/24	2023/24
	£	Number	£	Number
Corporates	27,522	6	14,659	3
Charities and Trusts	35,138	15	426,682	5
Individuals	258,828	44	124,128	40
Legacy	139,873	2	124,741	3
TOTAL	461,361	67	690,109	51

Although the value of endowment donations decreased, we are extremely encouraged to see increases in the overall number of donors adding to our endowment fund from 51 in 2023/24 to 67 in 2024/25, a 30% increase.

The value of endowment donations from “Charities and Trusts” decreased in the year after 2 large donations in 2023/24. Our largest single endowment donation was £23,750 from a new donor wishing to create an endowment fund.

The largest increase was seen in endowment donations from individuals, increasing from £124,128 in 2023/24 to £258,828 in 2024/25. This was due to a large donation to the Children and Young People’s Match fund of over £150,000, creating the Beacon Fund for Children and Young People.

The number of donations from individuals into the endowment has continued to grow due to the Wiltshire Women and Girls Fund where every donation made to the fund is split between the endowment fund and a flow through fund on a 25:75 split enabling us to build a sustainable fund for this key area of work which will generate returns in perpetuity, whilst providing immediate funding for immediate needs, it also enables us to discuss the endowment model with a wide range of donors.

Investment income decreased this year from £921,025 in 2023/24 to £911,236 in 2024/25 which was accompanied by investment losses. We had a decreased income yield from 3.0% in 2023/24 to 2.7% in 2024/25. Bank interest increased very slightly from £46k in 2023/24 to £50k in 2024/25 due to higher cash reserves during the year.

The Foundation continues to receive contributions towards our running costs from donations, sponsorship, and events. In 2024/25, this totalled £249,252 compared with £199,460 in 2023/24, with the increase being mainly due to the increase in flow through donations and subsequent increases in contributions to our running costs.

Expenditure

Total expenditure for the year rose from £2.75m in 2023/24 to £3.26m in 2024/25, an increase of 19%. This was mainly due to an increase of £461,413 (23%) in grants awarded (net of returns), an increase in our charitable support costs of £55k (15%) and a decrease in our investment management costs of £27k (99%).

Report and Financial Statements for the year ended 31 March 2025

Financial Review - continued

Overall, £2.8m (85%) of total expenditure directly advanced our charitable purposes, either through awarding grants, which continues to be our largest expense, representing over 75% of our total expenditure, or through other charitable activities. A further £428k was incurred to support the delivery of these activities and £67k was incurred through raising funds.

Voluntary sector development and support for students

Throughout the year we continued with our Funder+ approach to grant making, providing voluntary sector organisations and students with advice and support, both through our application process and with general enquiries. We also hosted events in line with previous years. Expenditure in this area rose slightly from £57,854 in 2023/24 to £60,800 in 2024/25 (5% increase), mainly due to the increase in the number of grants awarded from 364 in 2023/24 to 405 in 2024/25.

Cost of grant making

The costs of grant making increased to £152,376 in 2024/25 from £141,149 in 2023/24 (8% increase), with the increase in donations and therefore grant making we expected these costs to increase.

Overall, for every £1 spent on grant making in 2024/25, we awarded grants of £16.53, this compared to £14.68 for 2023/24. This shows that our support costs per £1 of grant making has dropped significantly even though overall costs have increased.

Community leadership

Our expenditure on community leadership was £91,560, an increase from £78,381 in 2023/24. This is largely due to the recruitment in the year of a new Marketing and Communications Assistant who has been working hard to connect with the community groups and to grow our profile. It also reflects a number of team members attending the bi-annual UKCF conference in Harrogate which is incredibly important for engaging within the UK Community Foundations community and is a great source of learning and development for all those staff that attend.

Report and Financial Statements for the year ended 31 March 2025

Financial Review - continued

Overall, charitable support costs increased from £373,418 in 2023/24 to £428,467 in 2024/25, an increase of 15% due to the reasons detailed below.

Philanthropy development costs have increased by 21% from £103,204 in 2023/24 to £125,001 in 2024/25, this is due to the restructure of the Development team which reduced the headcount of the team by 0.8 FTE for nearly 6 months of 2023/24 and then saw a new full time Philanthropy Director join the team in March 2024.

Governance and strategy costs have increased by 17% from £97,191 in 2023/24 to £113,256 in 2024/25, mainly due to the development of our new 5-year strategy which involved all team members, but with significant input from the Joint Chief Executives.

Charity management has reduced very slightly from £120,349 in 2023/24 to £119,968 in 2024/25.

Campaign & fundraising support costs have increased slightly from £24,451 in 2023/24 to £25,820. As above the Development team capacity was increased late last year. This category includes the work undertaken on the day to day running of the organisation and the operational costs incurred during campaigns and fundraising activities processing donations and thanking supporters, with donations increasing by 25% this year we have managed to keep the costs to a minimum.

Project management costs have increased during the year from £28,223 in 2023/24 to £44,152, up by 50%. The costs incurred represent our internal project management costs. This year this includes smaller costs of our digital transformation for Salesforce and the continuation and completion of the new finance system which went live in April 2024. The major cost increase in this area represents time spent on our 50[th] anniversary projects which have largely been incurred by the marketing team, these include rebranding, the compilation of a 50[th] anniversary book and the time spent on planning out 50[th] celebrations which took place in July 2025. These costs will continue into Q1 of 2025/26.

Raising Funds

Costs relating to raising funds, have increased slightly from £64,855 in 2023/24 to £66,765 in 2024/25 and for every £1 spent on raising funds in 2024/25, we received donations of £35.46, this compares to £29.14 for 2023/24. This shows that whilst overall costs have gone up due to the recruitment of a new Philanthropy Director, our donations have increased by a greater margin overall, increasing the £ raised per £ spent significantly (22%).

Investment Management costs

Investment management costs fell significantly from £27,616 in 2023/24 to £28 in 2024/25. The decrease is due to moving away from managed funds held with Evelyn, to largely unitised funds, held with CCLA and Sarasin, which do not attract fees in the same way. At the end of March 2025, we held no investments in managed funds compared to 1% in 2023/24.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Principal risks and uncertainties

At each board meeting, the trustees review the strategic risks of the organisation and the mitigations that are in place. The review takes place at the start of each board meeting with a further review conducted at the end of the meeting to capture any changes which may have become apparent.

On an annual basis all committees identify and discuss the principal risks and uncertainties to be included in this report, these are then discussed and agreed at the following board meeting.

The Audit, Finance & Risk committee review the principal risks and uncertainties at the start and end of each meeting.

The current political landscape presents several risks and uncertainties to all charitable organisations. These risks are shaped by political uncertainty, shifting government priorities, economic instability, and changes to regulation. The recent change in the UK government has brought change at both local and national levels. This brings a level of uncertainty and risk to both the groups and individuals we seek to support and to our donors, including:

 Poten�al reduc�on in funding for the organisa�ons that we support, especially those that rely on grants or contracts from local or na�onal government. This could mean some vital organisa�ons close or change their opera�onal models to survive and may mean they will require more funding from the Founda�on.
 Economic pressures, such as inflation, rising interest rates, and post-pandemic recovery challenges, could lead the government to implement austerity measures. This economic instability could reduce disposable income, leading to lower donations and increased competition for shrinking funding pools. It could also increase demand for community services as more people face economic hardship.
 Changes to tax policy, such as reducing tax relief on charitable donations or changing the structure of Gift Aid, could decrease incentives for individuals and companies to donate, affecting our ability to raise funds and award grants.

Mitigation

 Keep up to date with changes in the poli�cal landscape, assessing and understanding how poten�al changes may affect the Founda�on, the local voluntary sector and our supporters.
 Con�nue our partnerships and good working rela�onships with both councils.
 Meet with and communicate regularly with our local MPs about issues affec�ng the Founda�on and the voluntary sector we work within.

The state of the voluntary sector

Funding from government and local authorities continues to be squeezed, affecting both the organisations we support and their beneficiaries. Organisational running costs have increased for most organisations, they are also seeing reduced income due to several years in financial flux following the pandemic and the cost-of-living crisis. Issues with commissioning from local authorities are causing serious challenges for larger charities within the county. Many organisations are experiencing growing operational issues from recruitment and retention of staff to setting up and maintaining bank accounts, these all take time to resolve and are stretching organisations at a time when many are seeing increasing demand for their services alongside an increase in the depth of need for their beneficiaries. Many organisations are using reserves to cover core costs – this will not be sustainable for many and may result in increased need for funding from the Foundation along with increased closures.

Mitigation

 We will con�nue to listen to the sector, being present and suppor�ve to organisa�ons through our applica�on process and Funder+ ac�vi�es.
 We will con�nue to be engaged in conversa�ons across the sector to understand their experiences.
 We will con�nue to develop our grant making processes, ensuring we con�nue to be an open and trus�ng funder.
 Con�nue to be a ‘core cost’ Funder.
 Our Funding conference in May 2025 provided support to local voluntary organisa�ons with great feedback from par�cipants.
 Launched at the May conference - Local Insights is now publicly available to the county’s voluntary sector, enabling them to use this amazing resource to support funding applica�ons with other funders.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Principal risks and uncertainties - continued

As detailed above, many charitable organisations in the county and throughout the wider Foundation network are stating that they are losing staff to higher paid roles and finding recruitment for vacancies extremely difficult. Hybrid working is opening up roles that may have previously not been considered due to long commutes and the “perks” offered by charities (part-time working, flexible working, hybrid working) are now mainstream and expected by many. Volunteers are also harder to recruit across all sectors as people no longer have the time and money to do unpaid roles.

Our ambitions to grow will continue into our next strategic plan period, we will want to recruit new team members in addition to retaining our skilled and knowledgeable team.

We want our team to feel valued and to enjoy working for the Foundation.

We know our staff team, trustees and volunteers are not as diverse as they could be and there is a risk that we will therefore not be able to represent or reach all communities in our county.

Mitigation

 We con�nue to offer flexible working and will be responsive to individual and organisa�onal needs.
 We con�nue to listen to the team through regular team mee�ngs and monthly 1:1s with all staff; these con�nue to provide vital touch points with the team enabling us to be alerted to any issues more quickly and respond effec�vely to resolve them.
 Although we provided below infla�on pay rises in April 2024 (3.5%) and April 2025 (2%), we have a good benefits offer including Death in Service provision, a Health Cash Plan and an addi�onal day of leave for birthdays. Our holiday allowance is above statutory requirement at 27 days per year + bank holidays and we offer discre�onary leave between Christmas and New Year. Our pension benefits are non-contributory and are above auto-enrolment requirements, at 7.5% of total earnings. In 2023/24 we introduced flexible bank holidays, recognising that tradi�onal UK bank holidays do not reflect all communi�es. Team members are able to work standard bank holidays and take leave at �mes which work for them and their families.
 We are introducing salary sacrifice benefit op�ons in 2025/26 to in some way mi�gate the below infla�on pay increase.
 We will always discuss vacancies with team members to see if anyone would like to progress within the team prior to externally recrui�ng.
 We review trustee succession on an annual basis enabling us to recruit trustees with specific skills before current trustees come to the end of their terms.
 We completed a very successful trustee recruitment process in May 2025.
 We have introduced an annual diversity survey, the results of which are published on our website. This looks at a range of characteris�cs across our staff and trustee teams. We benchmark our diversity against a primary benchmark of the sta�s�cs for the county of Wiltshire, along with secondary na�onal and Community Founda�on network benchmarks. Where devia�ons are noted, we will review our recruitment prac�ces to ensure we are adver�sing in a broad range of places.
 We will always show the salary for roles within external adverts.

We have seen increased polarisation of views effecting British society in recent years. We need to ensure that we consider how this will affect the Foundation. Public sentiment towards charities, especially those perceived as aligning with or against certain social or political issues could lead to public backlash, reduced donations, or difficulty in engaging with certain parts of the community. We are a small team and need to recognise that we will not always have the relevant experiences or knowledge to explore these issues fully. This risk was illustrated by the riots seen in some parts of the country over last summer, although Wiltshire was not directly affected, we should be mindful of the impact of these events on our communities.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Principal risks and uncertainties - continued

Mitigation

 By increasing the diversity within our staff and trustee teams can broaden our knowledge and exper�se through lived experience and learnt skills.
 We have invested in our Marke�ng and Communica�ons resources during 2024/25 enabling us to be aware of and understand more about polarising issues.
 We will con�nue to listen to the voluntary sector and our partners, including the UK Community Founda�on network who are more experienced than we are in specific subject areas.
 We will research and highlight risks associated with emerging areas of need.
 In the case of the riots in the summer, we reached out to groups we knew who could be affected by what they were seeing in other areas of the country, ensuring they knew we were here to support them.

No organisation is immune to the risk of a cyber security breach. In recent years charities have found themselves targeted in many ways by cyber criminals and we must not be complacent. There is a risk of staff not staying up to date with current software and IT issues. The emergence of Artificial Intelligence (AI) also poses both risks and opportunities.

Mitigation

 We outsource our IT provision to an experienced organisa�on and ensure that updates are completed on our IT kit.
 We have two members of the team with a specific interest in cyber security, they have a�ended training and refresher sessions which are then discussed with the whole team and knowledge is shared.
 We introduced an annual cyber audit in 2021 with an external organisa�on. We act on specific items highlighted in the audit to improve our prac�ces.
 In 2023/24 we worked with Wiltshire Police to provide a police-led cyber crime workshop to our whole team to ensure we had up to date informa�on and skills.
 We are experimen�ng with AI and looking for ways for it to integrate with our systems and processes.
 We are developing an AI policy both for our own usage but also as guidance to applicants who may be using AI to complete our applica�on forms.
 We are working with our new IT provision supplier (Min�vo) to work towards Cyber Essen�al accredita�on.

As a Foundation accepting both endowment and flow through donations, we must recognise the risks associated with both historical and current donation acceptance. Although this risk has the potential for high impact it does have low likelihood but still needs to be recognised as a principal reputational risk. We also need to recognise the reputational risks of not accepting donations.

Mitigation

 Our focus will be on the source of current and future dona�ons rather than exis�ng endowment funds. All dona�ons over £100,000 currently go to the board of trustees for approval before acceptance.
 We have formalised our due diligence process which is based on “know your donor” principles, Fundraising Regulator advice and Charity Commission guidelines ensuring we adopt best prac�ce.
 We have formalised the process for escala�on of dona�ons of any size or rela�onship development to the full Board which may have a reputa�onal risk to the Founda�on.
 Talking about risk is now embedded fully in the commi�ee and board structure, we talk about it a lot, we spend �me discussing risks and their impacts and mi�ga�ons rather than discussion scores on a risk matrix.
 We held a training session on Risk with our auditors during 2024/25 and hope to build on this during 2025/26.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Principal risks and uncertainties - continued

Although the UK appears to have shifted out of an official recession in recent months, we recognise the disproportional impact the current cost of living crisis has on those who are in the most difficult financial situations and know that this will impact on several areas of the organisation including staff wellbeing and the impact on community groups supporting those in greatest need.

Although we experienced gains in our investment portfolio during 2023/24 we experienced losses in 2024/25 and the markets continue to be volatile. The trustees continue to keep a watchful eye on this, ensuring that the current long-term target of CPI + 4% is realistic going forward and to identify whether current drawdown processes are suitable and sustainable. This needs to be looked at in conjunction with needs arising and detrimental impacts of potentially reducing grant awards.

Mitigation

 As highlighted above across all other risks iden�fied.
 We have two very engaged trustees with significant experience in investment management who sit on the Coinvestment commi�ee, this ensures that investment managers are challenged and provide us with the required informa�on to make informed decisions.
 Usage of the coverage ra�o for endowment funded grants (currently approx. 96% with a target range of 90% - 110%) ensures that we are monitoring the impact of grant making that is funded by our endowment. This is a trigger to highlight when spending from our endowment may become unsustainable, at which point a trustee discussion will take place.
 Drawdown processes can be changed at any �me but may impact our ability to meet grant making budgets. This would need to be considered before drawdowns were paused or stopped.

Reserves Policy

The trustees have set a standard reserves policy whereby unrestricted funds, which are the free reserves of the Foundation, are maintained at a level which equates to between 1 and 2 months of operational expenditure.

In setting this reserves policy, we need to ensure that sufficient reserves exist to enable the Foundation to meet its operational requirements and to be able to continue to function in the light of a significant downturn in income.

For 2024/25, our free reserves, after deducting intangible fixed assets of £54,933, amounted to £(37,661), (2023/24 £(46,403)), highlighting negative free reserves. The trustees recognise that negative free reserves are not an ideal position but have taken the decision to not draw down the full cost of the new CRM system from specific funds within the endowment fund within this financial year and will complete drawdowns in line with depreciation over the next five years, if required. The trustees are comfortable with this position for the short term and expect to be within the 1–2 month range within the next 3 years.

The trustees have assessed the principal risks and uncertainties faced by the organisation and the likely cost implications of those risks when coming to this decision.

This decision has been taken in the knowledge that the Foundation, as part of its expendable endowment holds unrestricted reserves which, at 31 March 2025, amounted to £6,010,711 (2023/24 £6,336,767). In the event of a major challenge to the Foundation’s finances which could not be met by the unrestricted funds available under the agreed reserves policy, the trustees would expend part of the expendable endowment to supplement the unrestricted reserves.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Reserves Policy - continued

The reserves held by the Foundation on 31 March 2025 were as follows:

		Number of active funds	Total
Permanent endowment reserve	Restricted	1	£3,040,558
Expendable endowment reserve	Restricted	84	£20,641,313
Expendable endowment reserve	Unrestricted	82	£6,010,711
Total endowment reserve		167	£29,692,582

Restricted reserves		109	£768,308
Unrestricted reserves		2	£17,271
TOTAL reserves		263	£30,478,161

Reserves are monitored on a quarterly basis by the trustees, looking both at the reserves at the time of the trustees meeting and at the forecast position for the following year end. This ensures that remedial action can be taken quickly if required in the event of an unexpected, significant, or irreversible deficit in the free reserves of the Foundation. As any temporary downturn in reserves levels in a particular quarter may reverse in subsequent quarters, the trustees’ policy is to keep reserves under constant review, but only confirm formally any release of funds from expendable endowment at the end of each financial year, if deemed required.

The balance of unrestricted reserves at 31 March 2025 was £17,271 (2023/24 £26,841) with a balance of £45 (2023/24 £37) being designated for grant making, represented by the closing balances on our two unrestricted grant funds.

Going Concern

The trustees have considered the financial position of the Foundation at 31 March 2025 to ensure that they are satisfied that it continues to be regarded as going concern and that it is able to meet its liabilities as they fall due.

The 2024/25 accounts show net current assets of £1,070,421 (2023/24 £906,021). Cash held amounted to £1,252,357 (2023/24 £1,153,444) sufficient to cover all grants payable within one year. The trustees are confident that resources exist to meet liabilities as they fall due.

The fixed assets of the Foundation consist of two investment portfolios invested principally in investments which would be easily realisable in case of need to expend part of the expendable endowment. Accordingly, the trustees are reassured that the Foundation is in a strong financial position and may be regarded as a going concern.

Investments

The investment of our endowment fund is now managed by two investment management firms Sarasin and CCLA. By the end of the financial year we no longer had any investments held with Evelyn, a traditional portfolio with direct investments across a range of asset types. Investments held with Sarasin and CCLA are held as units within investment funds (the Sarasin Endowment and COIF Charities Investment Fund).

Our investment policy governs how the investments are managed. Our investment policy was set in 2012 and is reviewed annually. The trustees prepared our policy in accordance with the guidelines issued by the Charity Commission and with reference to the Trustee Act 2000. The ultimate power and responsibility for investment policy rests with the trustees with dayto-day oversight being carried out by the Co-Investment committee and supervised by the Audit, Finance and Risk committee on behalf of the board.

The Co-investment committee representing four Community Foundations based in the Southwest of England is responsible for overseeing the performance and management of the investment management firms. Each Foundation retains its individual identity, but the same investment managers are utilised to benefit from the corresponding economies of scale. The committee meets on a quarterly basis and has representatives from each Foundation who are accountable to their own trustees.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Investments - continued

The investment objective is to maximise the total return over the medium and long term, without taking undue risk. The aim is to maintain the capital value of the fund, allowing for inflation and to generate a return (whether from capital gains, dividends, or interest) for grant programmes and core costs and to deliver a total return equivalent to Consumer Price Index (CPI) + 4% pa measured over rolling three-to-five-year periods. This objective was reviewed during the year and the members of the Co-Investment committee agreed that this objective remained appropriate at present but recognise that a watching brief is required due to the changing economic environment that we are in.

In 2024, the Co-investment committee updated the policy to require our investment managers to screen out investments in companies that generate 10% or more of their revenue from the following activities:

 Adult Entertainment

 Gambling
 Tobacco produc�on, distribu�on and retail

The policy also states that we expect our investment managers to be signatories of the UN Principles of Responsible Investment and to be participating in Climate Action 100+.

Trustees have the power to decide to drawdown from investments from time to time to provide additional funding for grants or core costs.

Investment approach

Investments are made in an appropriate mix of real assets i.e., equities, fixed interest securities, alternative assets, and monetary assets. Trustees recognise that the returns on equities, while expected to be greater over the longer term than those of fixed interest and monetary assets, are likely to be more volatile. Investment in a mix of asset classes should nevertheless provide the levels of return required and mitigate volatility for the Foundation to achieve its objectives over the medium/ long term.

Our investment managers adhere to the Foundation's ethical policy not to directly invest in single companies where those investments and their non-financial activities compete directly with the goals of the Foundation. They also consider how the companies in which we invest address Environmental, Social and Governance (ESG) issues and integrate these into their businesses. The investment managers’ purchase of collectives does not represent a direct investment within this guidance. It is important to mention that the global strategy employed by Sarasin takes fully into account ESG risks when selecting individual investments.

ments.
Investment performance and values at 31/03/2025	Sarasin	CCLA	TOTAL
Value	£15,336,388	£14,326,799	29,663,187
Percentage ofportfolio	51.7%	48.3%	100.0%

Performance 12 months	4.3%	(2.0)%	1.3%
CPI + 4% over 12 months	6.9%	6.9%	6.9%
Performance 36 months	3.6%	3.6%	2.9%
CPI + 4% over 36 months	9.7%	9.7%	9.7%

31/03/24yield	3.2%	2.9%	3.1%
31/03/25yield	2.7%	2.9%	2.8%

Overall investment performance

Although investment gains were strong during the first three quarters of the year, a difficult final quarter with losses of over £1 million resulted in our endowment seeing an overall capital loss of £495,664 for the year, closing just under £30 million at year end. This was compared to gains of £2,074,128 in 2023/24.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Investments - continued

While this outcome is disappointing, it reflects wider market trends. Global share prices (as measured by the MSCI World Index) fell by 4.7% during the final quarter to March 2025. Our investment managers, CCLA and Sarasin, delivered a total return of 1.3% for the year—below our long-term target of CPI+4% (6.9%)—though encouragingly, five-year returns remain close to target, at 8.2% versus 9.1%. Income yields reduced by 0.3% to 2.8% in 2024/25. We are pleased that so far in 2025/26 we have experienced market gains and have secured over £200,000 in endowment donations, taking our endowment fund back to over £30 million.

We remain confident in our long-term investment strategy and in the role of endowment giving as a powerful and lasting force for good.

Looking forward, our investment managers have all highlighted that we should expect markets to remain volatile in the near term but that equities still offer the potential for real returns over the long term.

Structure, governance, and management

Governing Document

The Community Foundation for Wiltshire & Swindon is an independent registered charity. The registered charity number is 1123126 and the registered company number is 6504318.

The Directors of the company are also charity trustees for the purpose of charity law and, under the company’s Articles of Association, are known as members of the board of trustees.

The company was formed under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

There are currently 19 members (14 in 2023/24), each of whom agrees to contribute £10 in the event of the charity winding up. We have recruited five new trustees in 2025/26. We planned to recruit two or three new trustees to enable succession planning for two long standing trustees who will be stepping down in the next year, but the calibre of candidates was so impressive that we ended up recruiting five new trustees. We understand the difficulties this may bring during large board meetings, for example, ensuring everyone feels listened to and able to share their opinions, but we are confident that the right decision was made.

Trustees and key management personnel

The trustees have been recruited from across Wiltshire and those with strong connections to Wiltshire. They have a variety of backgrounds and expertise and are responsible for giving strategic leadership to the Foundation, overseeing the work of the Foundation, and ensuring that the Foundation is properly resourced to carry out its activities.

The activities of the Foundation are overseen by the board of trustees, which meets quarterly. Many of the boards’ functions are delegated to one of four committees: the Programme Delivery committee, the Audit, Finance and Risk committee, the Co-investment committee, and the People and Governance committee. The Programme Delivery committee is responsible for overseeing the work carried out by the grant’s panels, which meet as required to make grant making decisions on behalf of the trustees.

The committees along with the board of trustees are responsible for delivering the five-year strategic objectives of the Foundation, committees have responsibility for their own specific parts of the strategic plan and monitor progress against critical success factors.

The monitoring of risk, Quality Accreditation Standards and the delivery of the Annual Business Plan are key tasks, and trustees’ strategic perspective, oversight, expertise, and input are key features of committee work. All trustees sit on one or more of the committees or grant panels. Team members whose work is overseen by the committees are welcome to attend committees and to contribute to the discussion of business but have no voting rights. Similarly, the Joint Chief Executives attend board meetings but have no voting rights.

The Joint Chief Executives take responsibility for operational matters, hiring staff, operational planning, managing staff and ensuring that budgets and accounts are prepared for the board’s approval.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Structure, governance, and management - continued

The trustees consider the board of trustees and the Joint Chief Executives as comprising the key management personnel of the Foundation in charge of directing, controlling, and operating the Foundation on a day-to-day basis. All trustees give their time freely and no trustee remuneration was paid in the period. Details of trustee expenses and related party transactions are disclosed in the accounts.

Trustees are required to disclose all relevant interests and register them with the Joint Chief Executives and, in accordance with the Foundation’s policy, withdraw from decisions where a conflict of interest arises.

The pay of the employees of the Foundation, including the members of the Joint Chief Executives is reviewed annually. The remuneration is bench-marked with similar organisations in both size and activity to ensure that it is fair and not out of line with that generally paid for similar roles.

Board recruitment, induction, and development

The Foundation has a formal process for recruiting and inducting trustees. Where possible, we like prospective trustees to spend time volunteering with Foundation, either on a grants panel or a committee, before applying for a trustee position. Where there are specific skill shortages on the board, vacancies will be advertised, and potential applicants interviewed.

Appointments are made taking into consideration the annual board skills audit and the strategic aims of the Foundation. This ensures a balance of experience, skills, local representation, and geographical coverage.

Trustees are appointed for three years with the opportunity to be re-appointed for a further two terms. The chair and vice chair are elected annually by the trustees at the Annual General Meeting.

Trustees undergo a formal induction including a briefing by the Joint Chief Executives and a discussion with the chair of trustees to brief them on their legal obligations under charity and company law, including the charity commission guidance on public benefit, and to inform them of the content of the memorandum and Articles of Association, the committee and decision-making processes, the strategic plan, and recent financial performance of the Foundation.

Trustees are expected to take part in training both as a full trustee body at strategy days and as part of their responsibilities as members of committees.

Volunteers

During the year we were grateful for the support of over 31 volunteers in addition to trustees. The majority of these supported us through our grants panels and committees.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Reference and Administra�ve	Details
Registered company name:	The Community Founda�on for Wiltshire & Swindon
Trading name:	Wiltshire & Swindon Community Founda�on
Registered company number:	6504318
Registered ofce:	Sandclif House, 21 Northgate Street, Devizes, Wiltshire, SN10 1JT
	Tel: 01380 729284
	Email:info@wscf.org.uk
	Website:www.wscf.org.uk
Registered charity number:	1123126
Linked chari�es:	1123126-1 William (Doc) Couch Trust
	1123126-2 Alfred Ernest Withy’s Trust Fund
	1123126-3 The Shuker Educa�onal Fund
Bankers:	HSBC plc, 45 Market Place, Devizes, Wiltshire, SN10 1HZ
	Handelsbanken, Stella Building, Windmill Hill Business Park,
	Whitehall Way, Swindon, SN5 6NX
Auditors:	Sumer Audit, County Way, Trowbridge, Wiltshire, BA14 7FJ
Legal advisors:	Wansbroughs LLP, Northgate House, Northgate Street, Devizes, Wiltshire,
	SN10 1JX
Investment fund managers:	CCLA, 1 Angel Lane, London, EC2R 3AB
	Evelyn Partners Investment Management LLP, Portwall Place, Portwall
	Lane, Bristol BS1 6NA(to March 2025)
	Sarasin and Partners, Juxon House, 100 St Pauls Churchyard, London, EC4M
	8BU

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Trustees and Key Management Personnel

The directors of the charitable company (the charity) are its trustees for the purposes of charity law. The trustees and officers serving during the year and since the year end were as follows:

Chair	A Macpherson
Vice Chair	M Barne�
Board and commi�ee members	J Ali
	A Bradley (appointed July 2025)
	D Coombs
	O Jones-Davies
	K Davis (appointed July 2025)
	D
	T Hibbert (appointed July 2025)
`	C Hobhouse
	R Jones (appointed July 2025)
	L Lewis
	J Peck (appointed July 2025)
	S O’Sullivan
	D Twomey
	S Wall (re�ring September 2025)
	S Webber
	E Webbe
	D Wray
Patrons	Dame Sarah Troughton DVCO, Lord Lieutenant of Wiltshire
	Dame Elizabeth Neville, DBE, QPM, DL
	John Rendell
Joint Chief Execu�ves	V Hickey
	F Oliver

Report and Financial Statements for the year ended 31 March 2025

Statement of Trustees’ Responsibility

The trustees (who are also the directors of The Community Foundation for Wiltshire & Swindon for the purposes of company law) are responsible for preparing the report of the trustees and the financial statements in accordance with

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of

income and expenditure, of the Charitable Company for that period. In preparing those financial statements, the trustees are required to:


 Observe the methods and principles in the Charity SORP 2019 (FRS 102);


disclosed and explained in the financial statements;
 Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable

and to enable it to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

which the Charitable Company’s auditors are unaware, and each trustee has taken all the steps that they ought to have

Auditors

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Angus Macpherson (Chair ofwma
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Date of approval: 24 September 2025

The Community Founda�on for Wiltshire & Swindon Report and Financial Statements for the year ended 31 March 2025

Independent Auditor’s Report to the Members of The Community Foundation for Wiltshire & Swindon

Opinion

We have audited the financial statements of The Community Founda�on for Wiltshire & Swindon (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Ac�vi�es, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accoun�ng policies. The financial repor�ng framework that has been applied in their prepara�on is applicable law and United Kingdom Accoun�ng Standards, including Financial Repor�ng Standard 102 The Financial Repor�ng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accoun�ng Prac�ce).

In our opinion the financial statements:

 give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025, and of its incoming resources and applica�on of resources, including its income and expenditure, for the year then ended;
 have been properly prepared in accordance with United Kingdom Generally Accepted Accoun�ng Prac�ce; and
 have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with Interna�onal Standards on Audi�ng (UK) (ISAs (UK)) and applicable law. Our responsibili�es under those standards are further described in the Auditor’s responsibili�es for the audit of the financial statements sec�on of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibili�es 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 rela�ng to going concern

In audi�ng the financial statements, we have concluded that the trustees’ use of the going concern basis of accoun�ng in the prepara�on of the financial statements is appropriate.

Based on the work we have performed, we have not iden�fied any material uncertain�es rela�ng to events or condi�ons that, individually or collec�vely, may cast significant doubt on the charitable company's ability to con�nue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibili�es and the responsibili�es of the trustees with respect to going concern are described in the relevant sec�ons of this report.

Other informa�on

The other informa�on comprises the informa�on included in the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other informa�on contained within the trustees’ report. Our opinion on the financial statements does not cover the other informa�on 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 informa�on and, in doing so, consider whether the other informa�on is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we iden�fy such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other informa�on, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other ma�ers prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

 the informa�on given in the trustees' report (incorpora�ng the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
 the directors’ report has been prepared in accordance with applicable legal requirements.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Independent Auditor’s Report - continued

Ma�ers on which we are Required to Report by Excep�on

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not iden�fied material misstatements in the directors’ report.

We have nothing to report in respect of the following ma�ers in rela�on to which the Companies Act 2006 requires us to report to you if, in our opinion:

 adequate accoun�ng records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
 the financial statements are not in agreement with the accoun�ng records and returns; or
 certain disclosures of directors’ remunera�on specified by law are not made; or
 we have not received all the informa�on and explana�ons we require for our audit ; or
 the trustees were not en�tled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemp�ons in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibili�es of trustees

As explained more fully in the statement of trustees’ responsibili�es set out on page 32, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the prepara�on of the financial statements and for being sa�sfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the prepara�on of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to con�nue as a going concern, disclosing, as applicable, ma�ers related to going concern and using the going concern basis of accoun�ng unless the trustees either intend to liquidate the charitable company or to cease opera�ons, or have no realis�c alterna�ve but to do so.

Auditor’s responsibili�es for the audit of the financial statements

Our objec�ves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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

Irregulari�es, including fraud, are instances of non-compliance with laws and regula�ons. We design procedures in line with our responsibili�es, outlined above, to detect material misstatements in respect of irregulari�es, including fraud. The specific procedures for this engagement and the extent to which these are capable of detec�ng irregulari�es, including fraud is detailed below.

Based on our understanding of the charitable company and industry, we iden�fied that the principal risks of non-compliance with laws and regula�ons related to compliance with employment law and chari�es and company legisla�on, and we considered the extent to which non-compliance might have a material effect on the financial statements of the company. We also considered those laws and regula�ons that have a direct impact on the prepara�on of the financial statements such as the Chari�es Act 2011, the Companies Act 2006 and Accoun�ng and Repor�ng by Chari�es: Statement of Recommend Prac�ce 2019 applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102). We evaluated management’s incen�ves and opportuni�es for fraudulent manipula�on of the financial statements (including the risk of override of controls), and determined that the principal risks were related to pos�ng inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accoun�ng es�mates and judgemental areas of the financial statements.

Report and Financial Statements for the year ended 31 March 2025

Independent Auditor’s Report - continued

Audit procedures performed by the audit engagement team included:




 expenses;
 material misstatement due to fraud;


 round numbers.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members

company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Gare

For and on behalf of Sumer Audit

Statutory Auditor

Chartered Accountants

County Gate

County Way

Trowbridge

Wiltshire

BA14 7FJ

Date: 10 October 2025

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Statement of Financial Activities- including Income and Expenditure Account

Notes Income & endowments from: Dona�ons & legacies 2 Other trading ac�vi�es 3 Investments 4 TOTAL Expenditure on: Raising funds 6/7 Investment management costs 6/7 Charitable ac�vi�es 6/7 Grant making 5 Voluntary sector development & support for students Community leadership Charitable support costs 6/7 Philanthropy development Governance & strategy Charity management Campaign & fundraising support costs Project management costs (Losses)/Gains on revalua�on of fxed assets 14 Net (Expenditure) / Income Transfers between funds 22 Net movement in funds Reconcilia�on of funds: Total funds brought forward Total funds carried forward 19/20/21	Unrestricted Funds Restricted Funds Endowment Fund Total Funds 2025 Total Funds 2024 £ £ £ £ £ 248,764 1,906,237 461,361 2,616,362 2,095,774 6,000 4,374 - 10,374 8,037 570,980 340,256 - 911,236 921,025
	825,744 2,250,867 461,361 3,537,972 3,024,836
	62,863 3,902 - 66,765 64,855 28 - - 28 27,616 291,708 2,324,782 - 2,616,490 2,143,850 60,800 - - 60,800 57,854 90,475 1,085 - 91,560 78,381 125,001 - - 125,001 103,204 113,526 - - 113,526 97,191 119,968 - - 119,968 120,349 25,820 - - 25,820 24,451 44,152 - - 44,152 28,223
	934,341 2,329,769 - 3,264,110 2,745,974
	- - (495,664) (495,664) 2,074,128
	(108,597) (78,902) (34,303) (221,802) 2,352,990 99,027 318,644 (417,671) - -
	(9,570) 239,742 (451,974) (221,802) 2,352,990 26,841 528,566 30,144,556 30,699,963 28,346,973
	17,271 768,308 29,692,582 30,478,161 30,699,963

The Statement of Financial Ac�vi�es includes all gains & losses in the year.

All income and endowments and expenditure derive from con�nuing ac�vi�es. The notes on pages 39 - 61 form part of these financial statements.

Report and Financial Statements for the year ended 31 March 2025

Balance Sheet

Company Number: 6504318
	Notes	2025	2024
		£	£
FIXED ASSETS:
Intangible assets	11	54,933	73,244
Tangible assets	12	7,920	6,922
Investments	14	29,663,187	30,005,522
Total Fixed Assets		29,726,040	30,085,688
CURRENT ASSETS:
Debtors	15	480,228	412,567
Cash at bank and in hand	16	1,252,357	1,153,444
Total Current Assets		1,732,585	1,566,011
LIABILITIES:
Creditors: Amounts falling due within one year	17	(662,164)	(659,990)
Net Current Assets		1,070,421	906,021
Total Assets Less Current Liabilities		30,796,461	30,991,709
Creditors: Amounts falling due after more than one year	18	(318,300)	(291,746)
TOTAL NET ASSETS		30,478,161	30,699,963
THE FUNDS OF THE CHARITY:
Endowment funds	19	29,692,582	30,144,556
Restricted income funds	20	768,308	528,566
Unrestricted funds	21	17,271	26,841
TOTAL CHARITY FUNDS		30,478,161	30,699,963

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act

The financial statements were approved by the Board of Trustees on 24 September 2025

and were signed on its behalf by: ANGUS MACPHERSON MARK BARNETT “eg. The notes on pages 39—61 form part of these financial statements.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Statement of Cash Flows

Notes NET CASH (ABSORBED BY) OPERATING ACTIVITIES (see below) CASHFLOWS FROM INVESTING ACTIVITIES Purchase of tangible fxed assets 12 Net addi�ons to investments 14 Proceeds from sale of investments 14 Equalisa�on gain 14 Net decrease / (increase) in cash holdings by investment managers 14 NET CASH GENERATED FROM INVESTING ACTIVITIES CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTING PERIOD CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE REPORTING PERIOD 16 CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING PERIOD 16 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Notes Net (expenditure) / income for the repor�ng period as per the statement of fnancial ac�vi�es Adjustments for: Deprecia�on charges 12 Amor�sa�on charges 11 Losses / (Gains) on investments 14 Increase in debtors 15 (Decrease) / Increase in creditors 17/18 NET CASH (ABSORBED) BY OPERATING ACTIVITIES ANALYSIS OF CASH AND CASH EQUIVALENTS Cash at bank and in hand 16 Total cash and cash equivalents	2025 £ 257,865 (5,623) (552,870) 396,457 47,317 (44,233) (158,952) 98,913 1,153,444 1,252,357 2025 £ (221,802) 4,625 18,311 495,664 (67,661) 28,728 257,865 1,252,357 1,252,357	2024 £ 3,023 (4,468) (24,007,446) 23,415,782 2,108 576,435
		(17,589) (14,566) 1,168,010
		1,153,444
		2024 £ 2,352,990 4,011 18,311 (2,074,128) (203,751) (94,410)
		3,023
		1,153,444
		1,153,444

ANALYSIS OF CHANGES IN NET DEBT

The charity held no debt at the year end date and net funds are represented by cash and cash equivalents held.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements

1. ACCOUNTING POLICIES

The significant accoun�ng policies applied in the prepara�on of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.1 Basis of Prepara�on

The Founda�on is an incorporated charity registered in the United Kingdom. It is a company limited by guarantee and the trustees are the members of the Company. As at 31 March 2025 there were 14 members (14 in 2023/24), each of whom agrees to contribute £10 in the event of the Founda�on’s winding up. The address of the registered office is given in the charity informa�on on page 30 of these financial statements. The nature of the Founda�on’s opera�ons and principal ac�vi�es are detailed in the Trustees report.

The Founda�on cons�tutes a public benefit en�ty as defined by FRS 102. The financial statements have been prepared in accordance with Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce (published October 2019) applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102), the Chari�es Act 2011, the Companies Act 2006 and UK Generally Accepted Prac�ce.

The financial statements are prepared on a going concern basis under the historical cost conven�on, modified to include certain items at fair value.

1.2 Fund Accoun�ng

Unrestricted funds are available for use at the discre�on of the trustees in furtherance of the general objec�ves of the Founda�on. Designated funds are amounts set aside by the trustees for specific purposes. Restricted funds are subject to restric�ons on their expenditure imposed by the donor or through the terms of a grant.

The Founda�on has two elements to its endowment fund. It has an expendable endowment fund and a permanent endowment fund. The capital of the expendable endowment fund is unrestricted and is available for use at the discre�on of the trustees in furtherance of the general objec�ves of the Founda�on. However, the income generated on the capital may be restricted or unrestricted. This fund is accumulated to provide a regular source of income to fund the Founda�on’s grant programmes.

We have one permanent endowment fund, which requires the trustees to invest the capital in perpetuity. The internal management costs of the investments held as part of the permanent endowment fund are applied to the income received before grants are made.

Addi�onal details on funds are included in the notes to the accounts.

1.3 Income Recogni�on

All incoming resources are included in the Statement of Financial Ac�vi�es (SoFA) when the Founda�on is legally en�tled to the income a�er any performance condi�ons have been met, the amount can be measured reliably and it is probable that the income will be received.

For dona�ons to be recognised the Founda�on will have been no�fied of the amounts and the se�lement date in wri�ng. If there are condi�ons a�ached to the dona�on and this requires a level of performance before en�tlement can be obtained, then income is deferred un�l those condi�ons are fully met or the fulfilment of those condi�ons is within the control of the Founda�on, and it is probable that they will be fulfilled.

Donated facili�es and donated professional services are recognised in income at their fair value. Fair value is determined on the basis of the value of the gi�, for example, the amount the Founda�on would be willing to pay in the open market for such facili�es and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer �me in line with the SORP (FRS 102). Further detail is given in the Trustees’ Report.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

1.3 Income Recogni�on (con�nued)

Where prac�cable, gi�s in kind donated for distribu�on to the beneficiaries of the Founda�on are included in stock and dona�ons in the financial statements upon receipt. If it is imprac�cable to assess the fair value at receipt or if the costs to undertake such a valua�on outweigh any benefits, then the fair value is recognised as a component of dona�ons when it is distributed and an equivalent amount recognised as charitable expenditure.

For legacies, en�tlement is the earlier of the Founda�on being no�fied of an impending distribu�on or the legacy being received. At this point income is recognised. On occasion legacies will be no�fied to the Founda�on however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a con�ngent asset and disclosed.

Income from other trading ac�vi�es includes income earned from fundraising events and trading ac�vi�es to raise funds for the Founda�on. Income is received in exchange for supplying services in order to raise funds and is recognised when en�tlement has occurred.

Income from grants is recognised when the Founda�on has en�tlement to the funds providing receipt of the grant is not deferred. Where the grant has been received but the criteria for income recogni�on have not been met as at the year end, the income is deferred.

Government Funding is included in income from Dona�ons and Legacies as this reflects the nature of the funding more accurately. Grants are not received from government sources. However, as a leading grant maker in the county we are o�en asked to oversee and manage grant programmes on behalf of the local authori�es.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Interest income is recognised using the effec�ve interest method and dividends are recognised as the date when Founda�on’s right to receive payment is established.

1.4 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or construc�ve obliga�on to make payments to third par�es, it is probable that the se�lement will be required, and the amount of the obliga�on can be measured reliably. Irrecoverable VAT is charged as an expense against the ac�vity for which expenditure arose.

Expenditure on raising funds comprise the costs associated with a�rac�ng dona�on and legacy income.

Expenditure on charitable ac�vi�es comprises all other costs incurred by the Founda�on in the delivery of its ac�vi�es and services for its beneficiaries, including governance costs. It includes both costs that can be allocated directly to such ac�vi�es and those of an indirect nature necessary to support them.

Governance costs include those costs associated with mee�ng the cons�tu�onal and statutory requirements of the Founda�on and include audit fees and costs linked to the strategic management of the Founda�on.

All costs are allocated between the expenditure categories of the Statement of Financial Ac�vi�es on a basis designed to reflect the use of the resource. Costs rela�ng to a par�cular ac�vity are allocated directly; others are appor�oned on an appropriate basis. Salaries are allocated by reviewing �me spent by each employee on the ac�vi�es and a�ribu�ng cost accordingly.

1.5 Fundraising and Philanthropy Costs

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Philanthropy development includes the costs of educating, informing and advising donors as to local needs, and effective methods of donation to meet those needs, so as to develop an informed donor community with the objective of ‘ connecting people who care with causes that matter ’.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

1.6 Grants Payable

Grants payable are payments made to third par�es in furtherance of the charitable objects of the Founda�on. Where the grant is uncondi�onal, it is accrued once the recipient has been no�fied of the grant award. The no�fica�on gives the recipient a reasonable expecta�on that they will receive the one-year or mul�-year grant. Grants awards that are subject to the recipient fulfilling performance condi�ons are only accrued when the recipient has been no�fied of the grant and any remaining unfulfilled condi�ons a�aching to that grant are outside of the control of the Founda�on.

1.7 Grant Returns

Every year a small propor�on of the grants awarded are returned. Because the amounts returned and reasons for return differ from year to year, no provision is made for grant returns and any amount returned is recognised in the year of return.

1.8 Opera�ng Leases

The Founda�on classifies the lease of its offices at Sandcliff House and of a franking machine as opera�ng leases; the �tle to the building and equipment remains with the lessor. Rental charges are charged on a straight-line basis over the term of the lease.

1.9 Intangible Fixed Assets, Fixed Assets and Deprecia�on

Fixed assets with a value in excess of £500 are ini�ally recorded at cost where known, or at a reasonable approxima�on thereof if donated in kind. Deprecia�on on computer and office equipment is charged using the straight-line method over four years.

Intangible assets have been recorded at cost and are amor�sed using the straight-line method over five years.

1.10 Investments

Investments are recognised ini�ally at fair value which is normally the transac�on price excluding transac�on costs. Subsequently, they are measured at fair value with changes recognised as ‘(Losses)/ Gains on revalua�on of fixed assets’ in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

1.11 Cash and Cash Equivalents

Cash and cash equivalents include cash, bank deposit and current accounts and the cash held withing the Flagstone cash investment por�olio as detailed in note 16 to these accounts. All of the funds have maturity dates in less than a year.

1.12 Debtors and Creditors Receivable / Payable within One Year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transac�on price.

1.13 Financial Instruments

The Founda�on has only financial assets and financial liabili�es of a kind that qualify as basic financial instruments. Basic financial instruments include trade debtors and other debtors as detailed in note 15, cash as detailed in note 16 and trade creditors and accruals as detailed in notes 17 and 18. Prepayments are not financial instruments. Basic financial instruments are ini�ally recognised at transac�on value and subsequently measured at their se�lement value apart from investments which are measured at fair value.

1.14 Pensions

The Founda�on contributes to defined contribu�on schemes in which employees are members. The assets of these schemes are held separately from those of the Founda�on in independently administered funds. The pension charge in the Statement of Financial Ac�vi�es in respect of these schemes represents the amount payable by the Founda�on to these funds in respect of the year.

Any unpaid contribu�ons are included in creditors and detailed in note 25.

1.15 Tax

The Founda�on is an exempt charity within the meaning of schedule 3 of the Chari�es Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the defini�on of a charitable company for UK corpora�on tax purposes.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

1.16 Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertain�es exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements and have concluded that the budgeted income and expenditure is sufficient, in conjunc�on with the reserves of the Founda�on, for the Founda�on to be able to con�nue as a going concern.

2. INCOME FROM DONATIONS AND LEGACIES

Dona�ons and Gi�s - General Funding from Local Authori�es Legacies Dona�ons in kind	Unrestricted funds Restricted funds Endowment fund 2025 2024 £ £ £ £ £ 223,438 886,052 321,488 1,430,978 1,234,660 - 1,020,185 - 1,020,185 726,940 25,326 - 139,873 165,199 133,599 - - - - 575
	248,764 1,906,237 461,361 2,616,362 2,095,774

3. INCOME FROM OTHER TRADING ACTIVITIES

4. INCOME FROM INVESTMENTS Sponsorship Events Dividend income Bank interest	Unrestricted funds Restricted funds Endowment fund 2025 2024 £ £ £ £ £ 6,000 3,900 - 9,900 5,000 - 474 - 474 3,037
	6,000 4,374 - 10,374 8,037
	Unrestricted funds Restricted funds Endowment fund 2025 2024 £ £ £ £ £ 521,206 340,256 - 861,462 874,799 49,774 - - 49,774 46,226 570,980 340,256 - 911,236 921,025

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

5. GRANTS PAYABLE IN FURTHERANCE OF CHARITY’S OBJECTIVES

Direct costs of grant making Total Grants awarded in year Grants returned / not con�nued during year Grants made net of returns Support costs for grant making (notes 6/7) Total grants awarded including costs of grant making (see note 6) Distribu�on of grants between individuals and groups Grants to groups 2024/25 - 238 grants to 162 organisa�ons 2023/24 - 211 grants to 157 organisa�ons Grants to individuals 2024/25 - 167 grants 2023/24 - 153 grants	2025 £ 2,518,370 (54,256) 2,464,114 152,376 2,616,490 2025 £ 2,022,351 496,019 2,518,370	2024 £ 2,072,833 (70,132) 2,002,701 141,149 2,143,850 2024 £ 1,628,810 444,023 2,072,833

Grants awarded to groups within Wiltshire during the year by impact category

£ Alleviate poverty 901,512 Decrease isola�on and strengthen communi�es 320,295 Improve educa�onal outcomes and skills 55,820 Improve peoples mental or physical health 659,084 Improve the local environment 50,715 Increase enjoyment 34,925 2,022,351	No of grants 47 62 8 101 13 7 238	Average grant in £ 19,181 5,166 6,978 6,526 3,901 4,989
		8,497

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

5. GRANTS PAYABLE IN FURTHERANCE OF CHARITY’S OBJECTIVES — CONTINUED

Grants awarded within Wiltshire totalling > £12,000 per group comprise the following :

Centre for Sustainable Energy Wiltshire Centre for Independent Living Wiltshire Ci�zens Advice Community First Kennet Furniture Refurbiz LTD Trowbridge Future Waste Not Want Not Swindon Ci�zens Advice SMASH Youth Project Age UK Wiltshire Wessex MS Therapy Centre Arts Together Alabare Chris�an Care and Support The Harbour Project Doorway Wiltshire Ltd Neuro Wellbeing Centre Reach Inclusive Arts Prime Theatre Crosspoint (Westbury) DASH - Discovering Au�s�c Spectrum Happiness Escapeline Out of the Can Seeds4Success Community Money Advice South Wiltshire Families Out Loud Willows Counselling Service Home-Start North Wiltshire Swindon and Wiltshire IOT The Open Blue Trust Wilts & Berks Canal Trust Wiltshire Parent Carer Council (WPCC) Youth Adventure Trust Big Breakfast Plus Chippenham Uniform Exchange C.I.C. Headway, Southampton & West Wessex HEALS Helen Arkell Dyslexia Charity Learning for Life Wiltshire Rise:61 Root and Branch Westmill Salisbury Women's Refuge SWINDON 105.5 Swindon Bats Sports & Social Club Thamesdown Hydrotherapy Pool Associa�on The Kelly Founda�on The New Mechanics Ins�tu�on Preserva�on Trust Ltd Folio Theatre Wiltshire Music Centre Trust Ltd The Pla�orm Project Help Counselling Services Community Transport South Wiltshire Chippenham Community Eco Hub Wiltshire Council Other grants < £12,000 per group	£ 201,982 144,000 82,626 69,184 67,000 51,979 50,000 47,484 45,151 40,000 33,000 30,338 29,512 29,378 25,000 25,000 25,000 24,285 24,000 20,800 20,000 20,000 19,108 19,000 19,000 19,000 18,000 18,000 18,000 18,000 18,000 17,500 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 14,990 14,234 14,035 13,500 12,724 12,558 12,050 428,933 2,022,351	No of Grants 4 5 3 1 2 5 3 2 2 2 3 4 3 2 2 2 2 2 4 2 2 2 4 2 2 3 3 1 2 1 2 2 1 1 2 1 1 1 1 1 1 1 1 1 1 1 2 3 2 2 2 2 3 126
		238

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

5. GRANTS PAYABLE IN FURTHERANCE OF CHARITY’S OBJECTIVES — CONTINUED

A list detailing the grants which make up the grants awarded total can be obtained by contacting the Foundation.

During the year we awarded £564,792 to five organisations, the reasons for this are set out below:

The Centre for Sustainable Energy was awarded three grants in order to deliver Surviving Winter grants through their Warm and Safe Wiltshire programme which supports those in fuel poverty by distributing emergency vouchers up to a value of £400. They were also awarded a grant through the Wiltshire Energy, Food and Community Support programme to provide grants to households to support them with cost of living costs.

Wiltshire Centre for Independent Living was awarded one grant through the Surviving Winter Programme to provide grants of up to £400 to support to those identified in fuel poverty who have a disability or health condition, a grant through the Wiltshire Energy, Food and Community Support programme to provide grants to households to support them with cost of living costs, a Women and Girls grant for one to one support work, and a community grant to help fund a young person support worker.

Wiltshire Citizens Advice was awarded one grant from the Surviving Winter programme to deliver benefits advice and fuel grants to older people, a grant from the Wiltshire Energy, Food and Community Support programme to provide grants to households to support them with Cost of Living and a third grant awarded through the Targeting Health Inequalities programme to cover the cost of a debt advisor.

Community First was awarded one grant through Wiltshire Energy, Food and Community Support programme to provide grants to households to support them with cost of living costs.

Kennet Furniture Refurbiz Ltd (KFR) was awarded two grants from the Wiltshire Energy, Food and Community Support programme. KFR takes donations of furniture and white goods which they recondition to sell at affordable prices to the public or at subsided prices for people experiencing particular hardship. The grants were for their Crisis Provision Fund which donates white goods at no charge to people in need.

6. EXPENDITURE SPLIT BY SOFA CATEGORIES

6. EXPENDITURE SPLIT BY SOFA CATEGORIES
Ac�vity Raising funds Investment management costs Charitable ac�vi�es Grant making Voluntary sector development & support for students Community leadership Charitable support costs Philanthropy development Governance & strategy Charity management Campaign & fundraising support costs Project Management Costs Total expenditure	Direct cost Support of ac�vi�es costs 2025 £ £ £ - 66,765 66,765 28 - 28	2024 £ 64,855 27,616
	2,464,114 152,376 2,616,490	2,143,850
	- 60,800 60,800 - 91,560 91,560 - 125,001 125,001 - 113,526 113,526 - 119,968 119,968 - 25,820 25,820 - 44,152 44,152 2,464,142 799,968 3,264,110	57,854 78,381 103,204 97,191 120,349 24,451 28,223
		2,745,974

7. ANALYSIS OF CORE OPERATING COSTS BETWEEN MAJOR TYPES OF EXPENDITURE

The table on the following page shows the allocation of core costs between the activities of the Foundation. This allocation is carried out using the following allocation bases:

 Where directly attributable, costs are allocated to the relevant activity
 Salary and consultants costs are allocated on the basis of time spent by individual employees working on each of the Foundation's activities
 Residual costs are allocated on the basis of the time spent by employees on each activity

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

7. ANALYSIS	7. ANALYSIS	7. ANALYSIS	7. ANALYSIS	OF CORE OPERATING	OF CORE OPERATING	OF CORE OPERATING	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED	COSTS BETWEEN MAJOR TYPES OF EXPENDITURE — CONTINUED
			2024	£	141,149	57,854	78,381	277,384	64,855		103,204	97,191	120,349	24,451		28,223	438,273	715,657
			2025	£	152,376	60,800	91,560	304,736	66,765		125,001	113,526	119,968		25,820	44,152	495,232	799,968
			Deprecia�on	£	5,722	2,115	1,928	9,765	1,478		3,159	2,320	4,213		1,132	869	13,171	22,936
Admin, audit	&	professional Restricted	costs costs	£ £	20,480 -	7,223 -	22,047 1,085	49,750 1,085	7,386 3,902		13,699 -	24,045 -	16,664 -		2,885 -	14,725 -	79,404 3,902	129,154 4,987
		Premises	costs	£	7,496	2,771	2,526	12,793	1,936		4,139	3,039	5,519		1,483	1,138	17,254	30,047
		Staf & Marke�ng &	contractors communica�ons	£ £	118,491 187	48,358 333	63,647 327	230,496 847	51,751 312		103,637 367	83,782 340	93,434 138		19,729 591	23,282 4,138	375,615 5,886	606,111 6,733
			Analysis of costs	Charitable ac�vi�es	Grant making	Voluntary sector development & support for students	Community leadership		Raising funds	Charitable support costs	Philanthropy development	Governance & strategy	Charity management	Campaign & fundraising support	costs	Project management costs		Core opera�ng costs

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

8. EXPENDITURE 9. STAFF COSTS Included in net (expenditure) / income are the following amounts: Investment management costs All investment management costs were a�ributable to the endowment fund Auditors remunera�on Opera�ng lease rentals Deprecia�on of owned fxed assets Amor�sa�on of intangible assets Net (loss) / gains on revalua�on of fxed assets Wages & salaries Social security costs Pension costs Employee Benefts Costs of employing staf Reconcilia�on to staf & contractors costs in note 7 Wages & salaries as above Less: Salary costs allocated recharged to projects Wages & salaries Contractor costs The average headcount for employees was as follows: Senior management team Ofce / administra�on Average Full Time Equivalent employees Two employees received remuneration of between £80,000 and £90,000 (2023/24 and £90,000). Remunera�on paid to key management personnel Wages & salaries Social security costs Pension costs	2025 2024 £ £ 28 27,616 16,082 14,214 9,771 18,842 4,625 4,011 18,311 18,311 (495,664) 2,074,128 2025 2024 £ £ 518,440 445,024 47,482 38,765 37,315 31,473 3,794 2,854 607,031 518,116 607,031 518,116 (920) (5,449) 606,111 512,667 - 21,464 606,111 534,131 2025 2024 2.0 2.0 13.8 12.2 15.8 14.2 13.2 11.5 two employees received between £80,000 2025 2024 £ £ 141,997 137,196 17,085 14,829 10,650 10,290 169,732 162,315	2024 £ 27,616 14,214 18,842 4,011 18,311 2,074,128 2024 £ 445,024 38,765 31,473 2,854 518,116 518,116 (5,449)
		512,667 21,464
		534,131
		2024 2.0 12.2
		14.2
		11.5

In the view of the Foundation, the Joint Chief Executives, together with the Board of Trustees (who are unremunerated) are the key management personnel.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

10. PRIOR YEAR STATEMENT OF FINANCIAL	ACTIVITIES (INCLUDING INCOME AND EXPENDITURE	ACTIVITIES (INCLUDING INCOME AND EXPENDITURE	ACTIVITIES (INCLUDING INCOME AND EXPENDITURE	ACCOUNT)
	Unrestricted Funds	Restricted Funds Endowment Fund		Total Funds 2024
	£	£	£	£
Income & endowments from:
Dona�ons & legacies	206,059	1,199,606	690,109	2,095,774
Other trading ac�vi�es	8,037	-	-	8,037
Investments	562,472	358,553	-	921,025
Total	776,568	1,558,159	690,109	3,024,836
Expenditure on:
Raising funds	64,855	-	-	64,855
Investment management costs	-	-	27,616	27,616
Charitable ac�vi�es
Grant making	346,121	1,797,729	-	2,143,850
Voluntary sector development & support
for students	57,854	-	-	57,854
Community leadership	70,556	7,825	-	78,381
Charitable support costs
Philanthropy development	103,204	-	-	103,204
Governance & strategy	97,191	-	-	97,191
Charity management	120,349	-	-	120,349
Campaign & fundraising support costs	24,451	-	-	24,451
Project management costs	28,223	-	-	28,223
TOTAL	912,804	1,805,554	27,616	2,745,974
Gains on revalua�on of fxed assets	-	-	2,074,128	2,074,128
Net Income / (Expenditure)	(136,236)	(247,395)	2,726,621	2,352,990
Transfers between funds	93,407	403,196	(496,603)	-
Net movement in funds	(42,829)	155,801	2,240,018	2,352,990
Reconcilia�on of funds
Total funds brought forward	69,670	372,765	27,904,538	28,346,973
Total funds carried forward	26,841	528,566	30,144,566	30,699,963

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

11. INTANGIBLE FIXED ASSETS

Cost: At 1 April 2024 Addi�ons At 31 March 2025 Deprecia�on: At 1 April 2024 Charge for the year At 31 March 2025 Net Book Value as at: 31 March 2025 31 March 2024	Total £ 91,555 0
	91,555
	18,311 18,311
	36,622
	54,933
	73,244

In 2023/2024 we built a fully customised CRM system for the Founda�on. The cost of this has been capitalised and is being amor�sed over 5 years.

12. TANGIBLE FIXED ASSETS

Cost: At 1 April 2024 Addi�ons Disposals At 31 March 2025 Deprecia�on: At 1 April 2024 Charge for the year Disposals At 31 March 2025 Net Book Value as at: 31 March 2025 31 March 2024	Computer & ofce equipment £ 48,654 5,623 (5,170)
	49,107
	41,732 4,625 (5,170)
	41,187
	7,920
	6,922

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

13. INVESTMENT PROPERTIES

As at 1 April 2025, the Foundation held freehold titles to 21 properties all of which are nominally assets of the linked charity, the Alfred Ernest Withy Trust Fund. The ground rent due on those properties ranges from between £1.00 and £2.00 per year and is collected by solicitors when the leaseholds are sold. Due to the low value of the annual ground rent no attempt has been made to either value these freeholds or to make any provision for ground rent receivable in these accounts.

The freehold titles for the properties are held in the Foundation's name following transfer from the previous trustee (Wiltshire Council) in 2018. In 2020/21, the Foundation offered the leaseholders the opportunity to acquire their individual freehold in return for a payment of £500 per freehold (in line with a Charities Act Valuation of the value of the freehold titles) and an undertaking that the vendor would meet all relevant legal and conveyancing costs. During the current year no titles have been sold.

14. INVESTMENTS

As at 31 March 2025, investments comprised:

Cash or cash equivalents Listed investments Total investments Evelyn Partners Sarasin CCLA Market value at 1 April 2024 Addi�ons Disposal proceeds Increase / (decrease in cash) Realised loss Unrealised (loss) / gain Market value at 31 March 2025		2025 £ 42,032 29,621,155 29,663,187 2025 £ - 15,336,388 14,326,799 29,663,187 2025 £ 30,005,522 552,870 (396,457) 44,233 (7,631) (535,350) 29,663,187		2024 £ - 30,005,522 30,005,522 2024 £ 438,009 15,135,188 14,432,325 30,005,522 2024 £ 27,344,039 24,007,446 (23,415,782) (2,201) (115,512) 2,187,532
				30,005,522

All investments are carried at their fair value, using the closing quoted market price for listed investments.

Investment management costs for CCLA and Sarasin are charged directly to the underlying funds.

Gains for the year as reported in the Statement of Financial Ac�vi�es Realised losses Unrealised (losses) / gains Equalisa�on & currency gains	2025 £ (7,631) (535,350) 47,317 (495,664)	2024 £ (115,512) 2,187,532 2,108 2,074,128

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

14. INVESTMENTS — CONTINUED 15. DEBTORS 16. CASH & CASH EQUIVALENTS Cash movements in holdings by investment managers for the Cashfow statement: 2025 £ Cash from investment movements (3,084) Investment management costs paid - Equalisa�on & currency gains 47,317 Cash invested - Cash withdrawn from por�olio - Increase / (decrease) in cash held by investment managers 44,233 2025 £ Trade debtors 7,377 Prepayments 29,679 Dona�ons & grant funds receivable 230,044 Interest & other investment income 213,128 480,228 2025 £ Cash at bank and in hand 202,357 Short term deposits 1,050,000 Flagstone cash deposit pla�orm - 1,252,357	2024 £ (264,380) (45,260) 2,108 50,000 (318,903) (576,435) 2024 £ 9,855 27,209 161,500 214,003 412,567 2024 £ 36,501 1,032,442 84,501
	1,153,444

14. INVESTMENTS — CONTINUED
15. DEBTORS
16. CASH & CASH EQUIVALENTS
Cash movements in holdings by investment managers for the Cashfow statement:
2025
£
Cash from investment movements
(3,084)
Investment management costs paid
-
Equalisa�on & currency gains
47,317
Cash invested
-
Cash withdrawn from por�olio
-

Increase / (decrease) in cash held by investment managers
44,233
2025
£
Trade debtors
7,377
Prepayments
29,679
Dona�ons & grant funds receivable
230,044
Interest & other investment income
213,128
480,228
2025
£

Cash at bank and in hand
202,357
Short term deposits
1,050,000
Flagstone cash deposit pla�orm
-
1,252,357

2024

£

(264,380)

(45,260)

2,108

50,000

(318,903)

(576,435)

2024

£

9,855

27,209

161,500

214,003

412,567
2024
£
36,501
1,032,442
84,501

1,153,444

During 2024/25 we moved away from Flagstone to a short term fund designed for chari�es, managed by CCLA. Under money Market Fund Regula�on, the COIF Chari�es Deposit Fund is categorised as a short term Low Vola�lity Net Asset Value Money Market Fund. The fund objec�ve is to provide a high level of capital security and a compe��ve yield.

17. CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Grants payable Regular accruals Deferred Income Annual leave accruals	2025 £ 9,490 617,456 22,968 12,250 - 662,164	2024 £ 7,335 615,087 22,978 - 14,590 659,990

The deferred income relates to sponsorship of events which take place in May and July 2025.

18. CREDITORS AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR BUT WITHIN FIVE YEARS

18. CREDITORS AMOUNTS FALLING DUE AFTER MORE	THAN ONE YEAR BUT WITHIN FIVE YEARS
	2025	2024
	£	£
Accruals for grants payable	318,300	291,746

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to	Notes to	Notes to	Notes to	Notes to	the	the	Financial Statements	Financial Statements	Financial Statements	Financial Statements	Financial Statements	Financial Statements	Financial Statements	Financial Statements	-	continued	continued	continued	continued
19. ENDOWMENT FUND — 2025 MOVEMENTS
	At 31 March	2025	£		3,040,558	3,040,558				1,227,098	719,214	844,094	1,030,370	2,169,471	4,109,541	10,099,788		1,178,380	1,203,334	2,381,714		518,693	518,693		1,146,169	2,379,258	1,383,939	789,968	1,941,784	7,641,118	20,641,313
Endowment	fund transfers	(see note 22)	£		-	-				-	(1,858)	(18,400)	(7,231)	(92,717)	151,847	31,641		-	(43,551)	(43,551)		(1,380)	(1,380)		(8,044)	(31,648)	(9,712)	(5,544)	(20,123)	(75,071)	(88,361)
	Income	At 1 April 2024 (donations) Losses	Permanent Endowment £ £ £	Funds for Individuals	Shuker Educa�onal Fund (linked charity) 3,063,860 - (23,302)	Total Permanent Endowment 3,063,860 - (23,302)	Expendable Endowment split by fund type with linked chari�es and funds with year end balance > £500,000 shown	Expendable Endowment Funds (Restricted)	Themed & Geographical Funds	Alan Evans Memorial Trust Fund 1,287,065 - (59,967)	Blagrave Strategic Impact Fund 745,264 - (24,192)	Gordon Lake Fund for Groups 903,696 - (41,202)	Tony Long Trust Fund 1,045,322 - (7,721)	William Doc Couch Fund for Groups (linked charity) 2,277,325 - (15,137)	Other Funds < £500,000 3,660,422 384,887 (87,615)	Total Themed & Geographical Funds 9,919,094 384,887 (235,834)	Donor Advised Funds	Peanuts Trust Fund 1,235,966 - (57,586)	Other Funds < £500,000 1,269,998 - (23,113)	Total Donor Advised Funds 2,505,964 - (80,699)	Charity Funds	Other Funds < £500,000 536,015 1,225 (17,167)	Total Charity Funds 536,015 1,225 (17,167)	Funds for Individuals	Broad Town Trust Fund 1,162,801 - (8,588)	William Doc Couch Fund for Individuals (linked charity) 2,428,560 - (17,654)	Wiltshire Educa�on Fund 1,403,961 60 (10,370)	Wiltshire Society Fund 801,431 - (5,919)	Other Funds < £500,000 (excluding linked chari�es) 1,986,103 7,730 (31,926)	Total Funds for Individuals 7,782,856 7,790 (74,457)	Total Expendable Endowment Funds (Restricted) taken to following page 20,743,929 393,902 (408,157)
																	52

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

19.	ENDOWMENT	FUND	—	2025	MOVEMENTS — CONTINUED	MOVEMENTS — CONTINUED
At 1 April 2024 Income (donations) Losses Endowment fund transfers At 31 March 2025	Expendable Endowment Funds (Unrestricted) £ £ £ £ John & Sue Rendell Fund 1,315,414 47,287 (14,857) (8,482) 1,339,362 (see note 22)	Thomas Charitable Trust 854,738 - (6,313) (5,904) 842,521	Unrestricted Expendable Endowment Funds 4,166,615 20,172 (43,035) (314,925) 3,828,828	Total Expendable Endowment Funds (Unrestricted) 6,336,767 67,459 (64,205) (329,310) 6,010,711	Total Expendable Endowment Funds 27,080,696 461,361 (472,362) (417,671) 26,652,024 TOTAL ENDOWMENT FUND 30,144,556 461,361 (495,664) (417,671) 29,692,582

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

19.	19.	ENDOWMENT FUND	ENDOWMENT FUND	ENDOWMENT FUND	ENDOWMENT FUND	ENDOWMENT FUND	ENDOWMENT FUND	ENDOWMENT FUND	— 2024 MOVEMENTS	— 2024 MOVEMENTS	— 2024 MOVEMENTS	— 2024 MOVEMENTS	— 2024 MOVEMENTS	— 2024 MOVEMENTS	— 2024 MOVEMENTS	— 2024 MOVEMENTS
Endowment	fund transfers At 31 March	(see note 22) 2024	£ £		- 3,063,860	- 3,063,860				- 1,287,065	(4,252) 745,264	(4,000) 903,696	(16,547) 1,045,322	(79,541) 2,277,325	(30,238) 3,660,422	(134,578) 9,919,094		- 1,235,966	(26,491) 1,269,998	(26,491) 2,505,964		(3,138) 536,015	(3,138) 536,015		(18,407) 1,162,801		(129,995) 2,428,560	(22,225) 1,403,961	(12,686) 801,431	(46,875) 1,986,103	(230,188) 7,782,856	(394,395) 20,743,929
Investment	At 1 April Income management	2023 (donations) fees Gains	Permanent Endowment £ £ £ £	Funds for Individuals	Shuker Educa�onal Fund (linked charity) 2,865,293 - (3,596) 202,163	Total Permanent Endowment 2,865,293 - (3,596) 202,163	Expendable Endowment split by fund type with linked chari�es and funds with year end balance > £500,000 shown	Expendable Endowment Funds (Restricted)	Themed & Geographical Funds	Alan Evans Memorial Trust Fund 1,180,233 - - 106,832	Blagrave Strategic Impact Fund 692,416 - (320) 57,420	Gordon Lake Fund for Groups 832,491 - - 75,205	Tony Long Trust Fund 993,633 - (1,247) 69,483	William Doc Couch Fund for Groups (linked charity) 2,206,916 - (2,770) 152,720	Other funds < £500,000 3,402,855 26,768 (2,780) 263,817	Total Themed & Geographical Funds 9,308,544 26,768 (7,117) 725,477	Donor Advised Funds	Peanuts Trust Fund 1,133,375 - - 102,591	Other Funds < £500,000 1,206,640 - (1,087) 90,936	Total Donor Advised Funds 2,340,015 - (1,087) 193,527	Charity Funds	Other Funds < £500,000 497,012 1,215 (237) 41,163	Total Charity Funds 497,012 1,215 (237) 41,163	Funds for Individuals	Broad Town Trust Fund 1,105,301 - (1,387) 77,294	William Doc Couch Fund for Individuals (linked charity) 2,401,561 - (2,974) 159,968		Wiltshire Educa�on Fund 1,334,478 61 (1,676) 93,323	Wiltshire Society Fund 761,801 - (956) 53,272	Other funds < £500,000 (excluding linked chari�es) 1,389,045 546,595 (1,650) 98,988	Total Funds for Individuals 6,992,186 546,656 (8,643) 482,845	Total Expendable Endowment Funds (Restricted) taken to following page 19,137,757 574,639 (17,084) 1,443,012
																		54

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

19. ENDOWMENT FUND — 2024	MOVEMENTS — CONTINUED	MOVEMENTS — CONTINUED	MOVEMENTS — CONTINUED
At 1 April 2023 Income (donations) Expenditure (investment management fees) Losses Transfers from endow- ment fund (see note 22) At 31 March 2024 Total Expendable Endowment Funds (Restricted) from previous page 19,137,757 574,639 (17,084) 1,443,012 (394,395) 20,743,929 Expendable Endowment Funds (Unrestricted) John & Sue Rendell Fund 1,172,545 72,750 (1,406) 89,679 (18,154) 1,315,414 Thomas Charitable Trust 809,309 3,363 (1,016) 56,594 (13,512) 854,738	Unrestricted Expendable Endowment Funds 3,919,634 39,357 (4,514) 282,680 (70,542) 4,166,615 Total Expendable Endowment Funds (Unrestricted) 5,901,488 115,470 (6,936) 428,953 (102,208) 6,336,767 Total Expendable Endowment Funds 25,039,245 690,109 (24,020) 1,871,965 (496,603) 27,080,696	TOTAL ENDOWMENT FUND 27,904,538 690,109 (27,616) 2,074,128 (496,603) 30,144,556	The Endowment fund has been established to generate returns to fund the Founda�on's grant programmes.	The fund is split into two iden�fable funds; Permanent endowment £3.1m (2022/23 £2.9m) and Expendable endowment £27.1m (2022/23 £25m).	The Founda�on holds one permanent endowment fund, The Shuker Educa�onal Fund which is a linked charity to the Founda�on. The Founda�on has two other	linked chari�es, both of which form part of the expendable endowment. These are the Alfred Ernest Withy Fund and the William (Doc) Couch Fund, which is subdi-	vided into two separate parts, the William (Doc) Couch Fund for Individuals and the William (Doc) Couch Fund for Groups. Details of the linked charity numbers are	included in the Reference and Administra�on details on page 30.	The capital of the expendable endowment fund is unrestricted and is available for use at the discre�on of the Trustees in furtherance of the general objec�ves of	the charity. However, certain donors to the fund, whose balances total £20,743,930 (2022/23: £19,137,757 ), have requested that when grants are made from	their funds, they are used to fund projects within specifc felds of interest. These are detailed as Expendable Endowment Funds (Restricted) above.	During 2023/24 the Trustees con�nued to extract funds from the expendable endowment to increase grant making during the year. The amount to be expended	was calculated based on a required income of 4% per annum applied to quarterly valua�ons less actual income received. Addi�onal drawdowns were made in	consulta�on with fundholders to allow for further grants to be made. Note 22 provides details of the amounts and reasons for these transfers.	At the 31st March 2024 the investments included £3,522,864 (£3,230,450 2022/23) held within the CCLA Community First programme.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

20. RESTRICTED FUNDS

These restricted funds receive income for grant making either from flow through dona�ons or from related endowment funds. As a general rule, these funds are all short-term in nature and, dependant on finding suitable grant beneficiaries, income received is normally distributed by way of grants by the end of the year following receipt. Funds where there was a balance in excess of £25,000 * or which were in deficit as at 31 March 2025, and brief details of the restric�ons are as follows:

Alan Evans Memorial Trust Grants Fund A restricted fund promo�ng preserva�on of the na�on of land tenements of beauty of historic objects Broad Town Trust Grants Fund A restricted fund suppor�ng young people aged 14-25 in educa�on MCC Fund A restricted fund which will connect children and young people with music and other cultural and ar�s�c ac�vi�es A donor advised fund comba�ng the effects on children and families who are Peanuts Trust Grant Fund struggling to cope with children with behavioural problems Prism Grants Fund A restricted fund suppor�ng groups in South Wiltshire A restricted fund suppor�ng young people from West Wiltshire, aged 17-24 Shuker Educa�onal Grants Fund who are studying for, or are planning to study for a first degree The Butler Fund A restricted fund suppor�ng young peoples educa�on and aspira�ons William Doc Couch Grants for Individuals A restricted fund suppor�ng young people aged 16-25 in educa�on Wiltshire Society Grants Fund A restricted Fund suppor�ng young people aged 16-25 in educa�on Wiltshire & Swindon Youth Partnership A restricted fund to cover Youth Partnership costs including recruitment of Youth Partnership Development Manager, partnership costs and set-up of Youth Capacity, Training and Support Fund

The balance of the remaining 99 Restricted Funds was £187,424 as at 31 March 2025. The individual balances of each of these funds was between £0 and £25,000.

Following the requirements of FRS102, the trustees report the total amounts awarded in the year in which the awards were approved. In some cases, the payment of these grants is to be met by future income streams or future drawdowns, this

Alan Evans Memorial Trust Grants Fund - This is a programme that runs yearly, one applicant was awarded a grant of £25,000 as the project was a good match for the fund. The grants programme will run with a lower amount again in 2025/26 to re-

The Butler Fund - A three year grant of £13,450 arose which the donors were keen to fund was awarded with grants to be paid un�l Autumn 2025.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

20. RESTRICTED FUNDS — CONTINUED

20. RESTRICTED FUNDS — CONTINUED
					Transfers
				Transfers	from re-	Balance as
	Balance as			from en-	stricted/	at 31
2025 Movements of Restricted Funds with	at 1 April		Expendi-	dowment	unrestrict-	March
closing balances > £25,000 or < zero	2024	Income	ture	fund	ed funds	2025
	£	£	£	£	£	£
Alan Evans Memorial Trust Grants Fund *	(5,105)	18,664	(18,000)	-	-	(4,441)
Broad Town Trust Grants Fund	29,381	15,519	(15,133)	8,044	-	37,811
MCC Fund	-	152,665	-	-	-	152,665
Peanuts Trust Grant Fund	21,870	20,879	-	-	-	42,749
Prism Grants Fund	-	40,500	-	-	-	40,500
Shuker Educa�onal Grants Fund	44,407	40,962	(31,510)	-	-	53,859
The Butler Fund *	(9,700)	9,000	(4,150)	-	-	(4,850)
William Doc Couch Grants for Individuals	64,911	32,416	(61,393)	16,805	-	52,739
Wiltshire Society Grants Fund	17,571	10,696	1,040	5,544	-	34,851
Wiltshire & Swindon Youth Partnership	-	175,000	-	-	-	175,000
Other Restricted Funds	365,231	1,734,566	(2,200,623)	288,251	-	187,425
	528,566	2,250,867	(2,329,769)	318,644	-	768,308

				Transfers	Transfers	Balance as
	Balance as			from en-	from re-	at 31
2024 Movements of Restricted Funds with	at 1 April		Expendi-	dowment	stricted/	March
closing balances > £25,000 or < zero	2023	Income	ture	fund	unrestrict-	2024
	£	£	£	£	£	£
Alan Evans Memorial Trust Grants Fund	1,323	18,572	(25,000)	-	-	(5,105)
Broad Town Trust Grants Fund	12,652	35,689	(18,960)	-	-	29,381
The Butler Fund	-	10,751	(20,450)	-	-	(9,700)
Care Leavers Fund	-	40,000	-	-	-	40,000
Cost of Living Fund	960	14,304	(15,740)	-	-	(476)
Salisbury Jubilee Grants Fund	5	1,369	(2,475)	-	-	(1,102)
Shuker Educa�onal Grants Fund	15,842	45,042	(16,477)	-	-	44,407
South West Enterprise Fund	33,658	30,000	(38,640)	-	-	25,018
Taurus Grants Fund	483	7,676	(10,375)	-	-	(2,216)
Tony Long Trust Grants Fund	30,970	32,083	(1,509)	-	-	61,544
William Doc Couch Grants for Groups	4,389	71,331	(125,072)	42,500	-	(6,853)
William Doc Couch Grants for Individuals	32,501	76,470	(134,060)	90,000	-	64,911
Wiltshire Educa�on Grants Fund	21,052	44,540	(28,641)	-	1,059	38,009
Other Restricted Funds	218,931	1,130,333	(1,368,155)	271,895	(2,258)	250,746
	372,765	1,558,159	(1,805,554)	404,395	(1,199)	528,566

Total transfers into restricted income Funds

Transfers from Endowment Fund Transfers from restricted/ unrestricted funds Total Transfers

2025 £ 318,644 - 318,644	2024 £ 404,395 (1,199)
	403,196

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

21. UNRESTRICTED FUNDS The designated unrestricted funds are two unrestricted grant funds. Details of transfers are documented in Note 22. 22. FUND TRANSFERS 2025 At 1 April 2024 Income £ £ Designated unrestricted grant funds 37 90,601 Other unrestricted funds 26,804 735,143 26,841 825,744 2024 At 1 April 2023 Income £ £ Designated unrestricted grant funds 8,451 104,350 Other unrestricted funds 61,219 672,218 69,670 776,568 2025 Unrestricted funds Designated funds £ £ Endowment expended during the year for grant making To meet 4% income requirement - 40,700 Annual spend down endowment drawdown - - Requested spend down endowment - - Other Specifc addi�onal drawdowns - 8,040 Total endowment fund transfers for grant making - 48,740 Other fund transfers To increase endowment fund - - To fund core ac�vi�es 50,287 - 50,287 - Total fund transfers 50,287 48,740 Transfers to unrestricted funds 50,287 Transfers to designated funds 48,740 Total transfers to unrestricted funds 99,027	Expenditure £ (139,333) (795,008) (934,341) Expenditure £ (204,972) (707,832) 912,804 Restricted funds £ 99,055 17,000 70,611 140,278 326,944 (8,300) - (8,300) 318,644	Transfers £ 48,740 50,287 99,027 Transfers £ 92,208 1,199 93,407 Endowment fund £ (139,755) (17,000) (70,611) (148,318) (375,684) 8,300 (50,287) (41,987) (417,671)	At 31 March 2025 £ 45 17,226 17,271 At 31 March 2024 £ 37 26,804 26,841 TOTAL £ - - - - - - - -

Endowment expended for addi�onal grant-making

The Trustees con�nued to extract funds from the expendable endowment to enable increased grant making during the year. £139,755 was expended from the Expendable Endowment during the year by way of regular extrac�ons (2023/24 £318,904) and a further £227,916 (2023/24: £187,148) was drawndown from specific endowment funds in agreement with the fundholders where the restric�ons on the funds matched with applica�ons received during the year. This ensured that funds were u�lised as effec�vely as possible. In addi�on, included in the £227,916 was £17,000 of drawdown for spenddown endowment which are expendable over 8 to 10 years.

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

22. FUND TRANSFERS — CONTINUED 23. ANALYSIS OF FUNDS BY NET ASSET Prior Year comparison Unrestricted funds £ Extrac�ons from expendable endow- ment To meet 4% income requirement - Specifc addi�onal drawdowns 1,199 1,199 Other fund transfers To create new endowment fund - To fund core ac�vi�es - 0 Total fund transfers 1,199 Transfers to unrestricted funds Transfers to designated funds Total Transfers to unrestricted funds 2025 Unrestricted funds £ Fixed assets 62,853 Investments - Current assets (919) Current liabili�es (44,708) Creditors due a�er more than one year - 17,226 General unrestricted funds Designated funds Unrestricted funds	22. FUND TRANSFERS — CONTINUED 23. ANALYSIS OF FUNDS BY NET ASSET Prior Year comparison Unrestricted funds £ Extrac�ons from expendable endow- ment To meet 4% income requirement - Specifc addi�onal drawdowns 1,199 1,199 Other fund transfers To create new endowment fund - To fund core ac�vi�es - 0 Total fund transfers 1,199 Transfers to unrestricted funds Transfers to designated funds Total Transfers to unrestricted funds 2025 Unrestricted funds £ Fixed assets 62,853 Investments - Current assets (919) Current liabili�es (44,708) Creditors due a�er more than one year - 17,226 General unrestricted funds Designated funds Unrestricted funds	Designated funds £ 92,208 92,208 - - - 92,208 1,199 92,208 93,407 Designated funds £ - - 130,531 (85,536) (44,950)	Restricted funds £ 226,696 185,949 412,645 (9,449) - - 403,196 Restricted funds £ - 145,163 1,428,415 (531,920) (273,350)	Endowment funds £ (318,904) (187,148) (506,052) 9,449 - - (496,603) Endowment fund £ - 29,518,024 174,558 - -	TOTAL £ - - - - - - TOTAL £ 62,853 29,663,187 1,732,585 (662,164) (318,300) 30,478,161
	17,226	45	768,308	29,692,582
		17,226 45 17,271

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

23. ANALYSIS OF FUNDS BY NET ASSET — CONTINUED

2024 Fixed assets Investments Current assets Current liabili�es Creditors due a�er more than a year General unrestricted funds Designated funds Total unrestricted funds	Unrestricted Funds £ 80,166 - (8,459) (44,903) - 26,804	Designated Funds £ - - 166,846 (109,039) (57,770) 37 26,804 37 26,841	Restricted Funds £ - 14,711 1,253,879 (506,048) (233,976) 528,566	Endowment Fund £ - 29,990,811 153,745 - - 30,144,556	TOTAL £ 80,166 30,005,522 1,566,011 (659,990) (291,746) 30,699,963

24. FINANCIAL COMMITMENTS

At 31 March 2025 the Founda�on had the total of future minimum lease payments under non-cancellable opera�ng leases for each of the following periods:

Less than one year Between one and fve years More than fve years	Land & buildings £ 9,529 - - 9,529	Other £ 242 242 - 484	Total £ 9,771 242 - 10,013

Prior year comparison Less than one year Between one and fve years More than fve years	Land & buildings £ 18,600 9,529 - 28,129	Other £ 242 485 - 727	Total £ 18,842 10,014 - 28,856

23. PENSION COMMITMENTS

The Founda�on contributes to defined contribu�on schemes in which employees are members. The assets of these schemes are held separately in independently administered funds.

The pension cost charges for the period were:

All staf Pension contribu�ons outstanding at year end	2025 £ 37,315 4,210	2024 £ 31,473 4,131

The Community Founda�on for Wiltshire & Swindon

Report and Financial Statements for the year ended 31 March 2025

Notes to the Financial Statements - continued

26. RELATED PARTY DISCLOSURE

Neither remunera�on nor payments for consultancy services provided were paid to trustees in 2024/25 (2023/24 £nil). Expenses of £428 were paid to trustees in 2024/25 (2023/24 £458) in rela�on to travel and subsistence expenditure for mee�ngs.

No costs rela�ng to trustee indemnity insurance were paid in the current or prior year.

Dona�ons totalling £5,713 were received from trustees during 2024/25 (2023/24: £5,410). Of this, £250 was received towards Surviving Winter, £5,400 was received into the David and Tracey Coombs Swindon Match Fund, £63 was received towards the Dan Webber fund and £125 was received towards the High Sheriff Fund. None of the dona�ons had condi�ons a�ached to them.

No dona�ons were received by the Founda�on from organisa�ons where connec�ons exist with trustees during 2023/24 (2022/23: £nil). None of the dona�ons received in the prior year had condi�ons a�ached to them.

In January 2017, the spouse (Philippa Wall) of a trustee (Steve Wall) was employed as a part �me Finance Assistant, a role that she con�nues to fulfil. The standard recruitment process was followed with four other applicants a�ending interviews. The successful candidate had relevant experience and held qualifica�ons in excess of those required for the role. Steve Wall will be re�ring in September 2025.

The following grants were awarded during the year to 31 March 2025 to organisa�ons where our own trustees have a rela�onship with the beneficiary organisa�on. Where a trustee has now re�red from the Founda�on, we have included grants awarded up to their re�rement date:

 The Filling Sta�on (Swindon) was awarded grants totalling £1,210 (2023/24 £1,233). Angus Macpherson is a trustee for The Filling Sta�on (Swindon) and Chair of the Founda�on.
 Doorway Wiltshire was awarded grants totalling £25,000 (2023/24 £10,092). Mark Barne� is a trustee for Doorway Wiltshire and Vice Chair of the Founda�on.
 Society Without Abuse was awarded grants totalling £5,000 (2023/24 £nil). Angus Macpherson is a trustee for Society Without Abuse and Chair of the Founda�on.
 Wiltshire Wildlife Trust was awarded £nil (2023/24 £3,704). Damian Haasjes is an employee of Wiltshire Wildlife Trust and a Trustee for the Founda�on.
 Damian Haasjes' spouse Kirsty Haasjes is employed by Wessex Water. The Founda�on has been working with Wessex Water and Kirsty in her role as Head of Community Engagement since 2018 to deliver grant programmes within the Wessex Water region. Damian has no involvement in the Wessex Water grant programme panels. Wessex water donated £62,636.50 in 2024/25 (2023/24 £60,266.43).

Poten�al conflicts of interest in rela�on to grant applica�ons are acknowledged within the 'Terms of Reference for Grant Commi�ees considering grant applica�ons from groups' as follows: "When an applica�on is under discussion in which a member, adviser or staff member has an interest, they must declare it and leave that part of the mee�ng. A conflict of interest in this case is where the person has a direct financial interest in the outcome, or a familial or close friendship rela�onship with someone who has a direct interest. Interest must also be declared if an individual has been closely involved in preparing the applica�on, even if they have no other interest in the result."

27. ULTIMATE CONTROLLING PARTY

The trustees consider that the charity is jointly controlled by them and that there is no ul�mate controlling party.