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|General
information||||
|---|---|---|---|
|Report ofthe Trustees||||
|Auditor's
report||||
|Statement offinancial activities|(includimg|an income and expenditure|account)|
|Balance sheet||||
|Statement ofcash flows||||
|Notes to the financial statements||||
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|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||||||||||||
||||London||||||||||||
||||WC2A
I LS||||||||||||
|Registered|address and principal|office|Swire House||||||||||||
||||59 Buckingham
Gate||||||||||||
||||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||||||||||||
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|||||||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:||||||||||
|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.||||
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|||Note|2022|2021|
|---|---|---|---|---|
||||6|6|
|Current
assets|||||
|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|
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|||||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|
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|3.
Income|from donations|from donations|||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||6|E|
|Donations
and legacies|||||||||||
|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|
|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|||||||||||
|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|||||||||||
|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||||||||||
|Swire Chinese|Language
Centre,||Manchester||||||240,065|205,061|
|Carried forward|||||||||2,075,672|2,158,9/2|
|||||||||||(continued)|
##
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|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|||||||
|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|
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||||||
|---|---|---|---|---|
|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|