| General information |
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|---|---|---|---|
| Report ofthe Trustees | |||
| Auditor's report |
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| Statement offinancial activities | (includimg | an income and expenditure | account) |
| Balance sheet | |||
| Statement ofcash flows | |||
| Notes to the financial statements |
| Incorporated | Incorporated | 12 May 2016 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Charity number | 1171995 | |||||||||||||
| Company | number | 10177824 | ||||||||||||
| Directors | and Trustees | Professor Kristine | Black-Hawkins | (Independent) | ||||||||||
| Professor Jane Duckett (Independent) | ||||||||||||||
| John BRae-Smith | ||||||||||||||
| Samuel C Swire | (Chairman) | |||||||||||||
| Dr Christian Toennesen |
(Independent) | |||||||||||||
| Edward Watson | (Executive | Director) | ||||||||||||
| Objects | The advancement | of education | for the benefit | of the public, | ||||||||||
| particularly (but |
without | limitation) | by the | provision | of | |||||||||
| grants for the |
advancement | of | the | education | of school, | |||||||||
| college and university | students | in | the Chinese | language. | ||||||||||
| Auditor | Dixon Wilson Audit Services | LLP | ||||||||||||
| 22 Chancery Lane |
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| London | ||||||||||||||
| WC2A I LS |
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| Registered | address and principal | office | Swire House | |||||||||||
| 59 Buckingham Gate |
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| London | ||||||||||||||
| SW IE 6AJ | ||||||||||||||
| email: info@swireclf. org | ||||||||||||||
| www. swireclf. org | ||||||||||||||
| Bankers | HSBC Bank Pic | |||||||||||||
| 8 Canada Square | ||||||||||||||
| London | ||||||||||||||
| E14SHQ | ||||||||||||||
| Solicitors | Farrer 8Co | |||||||||||||
| 66 Lincoln's Inn |
Fields | |||||||||||||
| London | ||||||||||||||
| WC2A 3LH |
| Note | 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Income and endowments | from: | ||||||||
| Donations and legacies |
2,544,306 | I, I95,70I | |||||||
| Interest | 31,677 | 20,959 | |||||||
| Total income | 2,575,983 | 1,2/6,660 | |||||||
| Expenditure on: |
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| Raising funds | 4,199 | 4,658 | |||||||
| Charitable activities |
2,596,181 | 2,908,0I9 | |||||||
| Total resources | expended | 2,600,380 | 2,9I2,677 | ||||||
| Net expenditure | (24,397) | (I,696,0I 7) | |||||||
| Total unrestricted | income funds at 31 July 2021 | 3,791,478 | 5,487,495 | ||||||
| Total unrestricted Income |
funds | at 31 July 2022 (page | I I) | 3,767,081 | 3,79I,478 | ||||
| Ag amounts were |
derived | from continuing | activities. | ||||||
| The Foundation has no recognised |
gains or losses other than those included | above. | |||||||
| The notes and accounting | policies | on pages 13to 16form | part ofthese accounts. |
| Note | 2022 | 2021 | ||
|---|---|---|---|---|
| 6 | 6 | |||
| Current assets |
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| Debtors | 20,002 | 1,595 | ||
| Cash at bank and in | hand | 6,917,269 | 7,067,230 | |
| 6,937,271 | 7,068,825 | |||
| Linhiiirdes | ||||
| Creditors: amounts | falling due | |||
| within one year | (3,170,190) | (3,277,347) | ||
| Net current assets | 3,767,081 | 3,79/,478 | ||
| Net assets | 3,767,081 | 3,791,478 | ||
| Funds ofthe charity | ||||
| Unrestricted income |
funds (page 10) | 3,767.081 | 3,79/,478 | |
| Total charity funds | 3,767,081 | 3,791,478 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| 6 | 6 | ||||
| Net movement in funds |
(24,397) | (I,696,0I 7) | |||
| Deduct interest from investments | (31,677) | (20,959) | |||
| Increase in debtors |
(18,407) | (l,595) | |||
| (Decrease) / increase in |
creditors | (107,157) | 95,293 | ||
| Net cash (used in) I provided by operating |
activities | (181,638) | (l,623,278) | ||
| Interest from investments | 31,677 | 20,959 | |||
| Net cash (used in) / provided by investing |
activities | 31,677 | 20,959 | ||
| Change in cash and cash |
equivalents | (149,961) | (l,602,3I 9) | ||
| Cash and cash equivalents | brought | forward | 7,067,230 | 8,669,549 | |
| Cash and cash equivalents | carried | forward | 6,917,269 | 7,067,230 |
| 3. Income |
from donations | from donations | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | E | |||||||||
| Donations and legacies |
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| Donations from John Swire & Sons Limited |
2,544,306 | 1,195,701 | ||||||||
| Donations and |
legacies in both years relate to |
unrestricted | income. | |||||||
| 4. Analysis |
ofcharitable | expenditure | ||||||||
| The charity does not undertake |
any activity | directly | but | meets | its charitable | purposes | by making | donations and |
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| grants. | ||||||||||
| 2022 | 2021 | |||||||||
| 6 | ||||||||||
| The Belvedere | Academy, as lead |
school ofthe | ||||||||
| Swire Chinese | Language Centre, |
Liverpool | 120,587 | 126,580 | ||||||
| George Watson's College, as lead school ofthe |
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| Swire Chinese | Language Centre, | Edinburgh | 323,520 | 333,092 | ||||||
| The Gorse Academies Trust, as | lead school of | the | ||||||||
| Swire Chinese | Language Centre, | Leeds | 332,115 | 353,340 | ||||||
| Gosforth Academy, as lead school ofthe |
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| Swire Chinese | Language Centre, |
Gosforth | 270,625 | 240,659 | ||||||
| Harris Federation, as lead school |
ofthe | |||||||||
| Swire Chinese | Language Centre, |
London | 398,094 | 545,428 | ||||||
| Jordanhill School, as lead school |
ofthe | |||||||||
| Swire Chinese | Language Centre, |
Glasgow | 123,306 | 125,784 | ||||||
| King Edward Vl |
Aston School, as | lead school ofthe | ||||||||
| Swire Chinese | Language Centre, |
Birmingham | 267,360 | 228,968 | ||||||
| The Manchester | Grammar School, as lead school ofthe |
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| Swire Chinese | Language Centre, |
Manchester | 240,065 | 205,061 | ||||||
| Carried forward | 2,075,672 | 2,158,9/2 | ||||||||
| (continued) |
| NOTES TO THE FI |
NOTES TO THE FI |
NOTES TO THE FI |
NAN | CIAL STATEM |
ENTS | |
|---|---|---|---|---|---|---|
| Year ended 31 July 2022 | ||||||
| 4. Analysis ofcharitable expenditure |
(continued) | 2022 | 2021 | |||
| E | ||||||
| Brought forward | 2,075,672 | 2, I58,9(2 | ||||
| Newcastle High School for Girls, as lead school of the |
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| Swire Chinese Language |
Centre, Newcastle | 198,777 | I86,868 | |||
| Norwich School, as lead |
school ofthe | |||||
| Swire Chinese Language |
Centre, Norwich | 75,299 | I69,047 | |||
| The Queen's College, Oxford |
2,000 | |||||
| St Peter's College | Radley, as lead school ofthe | |||||
| Swire Chinese Language |
Centre, Oxford | 183,322 | 293,020 | |||
| Tapton School, as | lead school ofthe | |||||
| Swire Chinese Language |
Centre, Sheffield | 50,857 | 9I,536 | |||
| Total donations | 2,585,927 | 2,899,383 | ||||
| Gow rnunr rests niinroted |
tn rhnrirnhia | nrnvinrt | ||||
| Accountancy fees |
—accounts | 565 | 565 | |||
| Accountancy fees |
—audit | 5,663 | 5,22 I | |||
| Other professional | fees | 793 | 48 | |||
| Website costs | 180 | I,530 | ||||
| Travel costs | 2,701 | |||||
| Bank charges | 20 | 20 | ||||
| Sundry expenses | I,252 | |||||
| Entertaining | 332 | |||||
| Total governance | costs | 10,254 | 8,636 | |||
| Total resources | expended | 2,596,181 | 2,908,0I9 | |||
| S. Debtors |
2022 | 2021 | ||||
| E | E | |||||
| Accrued income | 20,002 | I,595 | ||||
| 20,002 | I,595 | |||||
| d. Creditors |
2022 | 2021 | ||||
| E | ||||||
| Amounts falling |
due within one year | |||||
| Grants payable | 3,160,918 | 3,270,644 | ||||
| Other creditors | 9,272 | 6,703 | ||||
| 3,170,190 | 3,277,347 |
| Financ | ial | assets | 2022 | 2021 |
| E | E | |||
| Cash | 6,917,269 | 7,067,230 | ||
| 6,917,269 | 7,067,230 | |||
| Financial | liabilities | |||
| Grants | payable | 3,160,918 | 3,270,644 | |
| Other | creditors | 9,272 | 6,703 | |
| 3,170,190 | 3,277,347 |