THE SWIRE CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2024 Charlty numb•r: 270721
THE SWIRE CHARITABLE TRUST l N D EX Year ended 31 December 2024 Pago General informatlon Report oftha trust805 Audbtor's report Stslemenl ol flnanclal acllvltl8S 10 Balgnco sheet 11 Stslem8nt of cash flows 12 Notes to the flnancJal statements 13
THE SWIRE CHARITABLE TRUST GENERAL INFORMA TION Year •nd•d 31 Decemb•r 2024 Established by deed 23 D8cember 1975 Charlty number 270726 TfUSt••$ 8 N Swlre J S Swire S C Swifg M V Allfrey R HoJg Power lo appoint new Truslees wos vested in th8 Settlors during Iholr lifglimes and thereafter In th8 Truslags. provldad that Ihara are avaYS at least fiv Truslegs. S•ttlorn Sir John Swlre C8E Ideceasedl Sir Adrian Swlra Ideceas8dl Tru•t lund £100. end fvrthfjr monies, SurIt195. land chattel8 OT other Invgslmants don8tad upm 8nd 8ublecl lo the samo Irusis. ObJ•ct• Such charities or for such 8xclu$ivety chgrllablg purpos88 as the Iruslees may determlna. Inv••tm•nt The Trustees have powers of Snveslmenl as If obsoluloly enlitlod lo tho Trust Fund beneflclally, Ineludlno a power lo Inv881 surplus Inccme. Inv••tm•nt manag•rn Sarasin & Partn8r8 LLP Juxon House 100 St Paul's Churchyard London EC4M 8BU Audlto Dlxon Wllson Audlt S8rvlce5 LLP 22 Chancgry Lané London WC2A 1LS sollcltorn 81rcham Dyson Bell One B8rthobmgw Close London ECIA 7BL Lestar Aldrtd98 Savoy Hill 4ouse London WC2R OBU Bank•r• Coutts & Co 440 Strand London WC2R OQS Addi• Swre Hous• 59 Bucklngham Gats London SW1E 6AJ
THE SWIRE CHARITABLE TRUST REPOR T OF THE TRUSTEES Year •nded 310ocember 2024 The Trustees present their report and financial statements ol the charity fu the year ended 31 08cÈmbeT 2024. The financial staloments havg been prepared in accordance wlth the accounting policies set out in note 1 of the financial statements ané wtth the Accounting and Reporting by Charitles.. Statement of Recommended Practice applicable to charitl8s pr8paring their accounts in ac¢ordanc8 wlh the Financial Reportlng Standard app5icable in the UK and Republic ol Ireland IFRS1021. ThSs report should b8 read In conluncllon wllh the informatlon included In pagg 2. Structure. governanc¢ and manag•ment The Swlr8 Charilable Trust Is an unlncofporaled charlty, construclgd under a trust deed dated 23 December 1975 and Is a r8gist8r8d charity, number 270728. In accord8nC8 with the Trust deed, the minimum number of Trust88s musl b& at laasl five. The power lo appolnt new Trustees Is v8s18d in the current Tru8tee8. Rgsponslbllity for tho induction of all new Trustees 1Ses wlth ihe Trust88s. Th8 Inductlon proc688 IOT naw Trustees include3 a m88ting to dls¢us$ the charity's history, governance, approach to grant maklng, and financlal posllion, and the role and rgsponsibllllles ol Trustees. New Tru51ees receive tha latest Annual R8port & Accounts, a recent sel of m88llng p8p8rs. th9 Trust's Govemance Pack, a copy of the Charity Commisslon guidance 'The Essenual Trustee,. and the Charlly Governance Code. The Trusle8s are direclly f8sponsibl& for the m8n3gemenl ol th8 charity. The Trustees a9ree the Charlly's slralwjy, review and approve grants and donallons, and ov8rs89 the charlty's governance, including the invoslmenl. reserv88. and rlsk management pollcles. Govarnance arrangements are delalled In the Trust's Governanc8 Pack. whl¢h Is formally r8vlewod al the Trust's Annual General Me8ting. The Trust deed provldes the Tnjstees with broad powers lo ¢reale pollces lo support the management. govornance, and admlnlstratlon of the Trust. Grant maklng pollcy Proposals for grants of £25,000 and ovèr and lor mulli-year grants are considered al quartedy meellngs by all Trustoes. Grants of under £25,000 are consldered al Cornmlttee meatings attend8d by 8 mlnlmum of TnJslees. Committ88 ma8llngs are held regularfy lo ensure Ihal grants are consSdgfod, awarded. and confirnied on an ongoing basis. Th8re ar8 no fixed deadlines for applications. The Trust has an onlln• appllcatlon process. All organlsalions applylng for fundlng ar8 raqulred lo subm a request online outllning how lunds WOU be used and what would be achieved. Due dillgancg Is than undertaken, and shortlisted organlsatlons are contacted for further Infomalion, before proposal$ and rgcommendalions are considered by th8 Truslgos. Appllcanls are advlsgd that the tolal amtyjnt requested should represent no more than 10% of the ¢harity's reported incunè. Mulli-year grants ara usually onty m8de lo ¢har61188 that have been SLlPPOrted previously. The Trust airns to be r8sponslve and flexible In ils grant maklng and is opan lo applutions for restrf¢tsd fvndlng fc¢ spe¢sfic projects or unrestrlot9d fundlng towards Core costs.
THE SWIRE CHARITABLE TRUST Year ended 31 December 2024 Grant making KYogr8mmes The charity currenuy provides grants lo charitl8S through the follo%n9 programmes.. The Opportunity Progr•mm•, whlch alms lo improve Ilfe chances for èx-sèrvice men and womèn: vlctims ol slavery and trafficking., children and young people In the car& of their local authority. nvolved wilh the Criminal jusucg System, or from the most SOCIecOnomIcalIY dlsadvanlaged b8ckgrounds. The Envlronm•nt Pfogramma, which fijnds charities that connect people to the envlronmenl. and work that BUPPOrt5 the UK'S blodbverstty. Th& H•rltag• Programmo, which funds heritage proj8¢1s and programmas that dellver social and economlc bgnefils to depfived communi118s or disadvantaged group5. The heritBge programme also supports charltbes WOrng to $8foguartJ endangered horitsge skills. In addltion to these lundlng programmes, In 2024 the Trustees conlinu8d lo make a sm811 numbèr of grants lo charilia$ within 3 d8dScal8d Cost of Llvlng Programm•. This programme awarded grants 10 charities supporting those faclng significant challenges as a result of the cog1 of1Svlng crlsls. Tha Trust's small dlscrellonary fund conllnued lo provlde grants lo Iwal charllles and make small donations lo causes champloned by the staff and other stak8hold8r5 of John Swire & Sons Ltd. Schol8rships progremme The Swlre Scholarshlps Programmg was gstsbllshed In th8 19808 38 tha Swlro Educallonal Trust. whlch was merged Inlo The Swlre Charllable Trust In 2015. The Trust admlnislers a number of scholarshlps fci graduate and poslgraduala study al Bntish and overseas universit8 for overseas students. Scholarships are 8dvertised on th8 websllgs 018ffl15algd unSversbties or college8 websll83, 8nd Sn n811onal papers in Hong Kong, Japan. Chlna, and other lurlsdlctlon5. Candidates apply directly lo the affilbaled unlvèrsS118s and, If they meet the acadgmlc crllaria, they are inlervlewed by a panel. The university docldes whether lo offer a eandldAt8 admlssion to their chosen course of study. The unlverslty may then refer a successful candldate lo bg considered for a scholarshlp from the Trust. Owectlves, a¢tlvltlo8 and achl•v•mont• lor th• publk b•n•fit The Trust Deed conlalns broad charitable objects which 811ow the Truslo9s. In Ihelr discrgtion, lo pay or apply the income and,11 agregd. tho Capital of the Trust Fund lo or for the benefft of any chart18ble bodles, Irusls. a5sociallon$, Instltulions or organisallons In tho Unllod Klngdom and dsewhere. In 2024, the Trust made donallons 8nd grants totalllng £8,113,83712023 - £5,958,442). The was a nel decreas8 in lunds for the ye8r 01 £685,51712023- £750.417}. Wllhln th8 Trust's focused funding programmes £1.064,268 was owarded In Opportunlty grants, £454,862 was awarded in Heritage grants and £420.825 was award8d In Envlronmenl grants. A list of tharities that recelved grants during the year can be l¢)und on paggs 15- 23. During the yaar to 31 December 2024, the Trust approv1 th• s8L8ction of 11 12023 - 11} new scholars and granted 812023- 1118nnual schol8rshlp$ and awards lo existing scholars. The Trustees, havlng regard lo the public b8n8fl1 guidance published by the Charlty CommSsskJn In accordance wrth sectlon 17 of the Charities A¢1 2011, ¢on$ld¢r that the purpose and activities of the charity satisfy the requirements of the public benefit tast sel out in the section 4 of the same Act.
THE SWIRE CHARITABLE TRUST REPOR T OF TH E TR U ST EE S (contin uad I Yoar ODdgd 31 Docembor 2024 Investment pollcy The Trustees, principal resources aris8 trom donations lo the Irusl. The Trustee5 have expended through donations and grants Ihe income arising therefrom on an annual basis. The Trustees maintain a cash balanc8 in order to provide a fund to meet grants and donollons whkh they wlsh lo make In excess of donations received In any particular year. In this regard the Trustees have noted the statutory duty of care wuired by the Trustee Act 2000. in relation lo their holding suStable investments and the n88d for diver8ificallon of Inv8slmenls so far as Is appropriate lo the circumstsnces of the trust. There is no requirement lo rnaintain a particular level of Inme r6sèNas as endowment funds can be expended lo meet expendllure as required. Tha Trusloas, overall Invoslm8nl objeollvg Is to achleve a level of Snvestm8nl Income growth whlch at least matches the rale of inflatlon, while prolectSng the value of the charlty's ¢apllal in real terms. Th55 pollcy 65 implemented by ind8pendenl fund managers. Fln•n¢lal r•vl•w Inve8tm8nt8 held In the portfolio with S8r#sin & Partners LLP have decreased by 1.2% durlng lh• year12023- 8.1% incre8$81. Dlvld8nds of £264,378 were recelve(l in the year12023 - £24fj,1571. During the year tho Trust recelved donalSons of £7.000,000 12023 £5,000,0001811 of which wer8 8ttrfbut8ble lo th& Unrèslrlcled Fund. Al the balance sheet date. th8 Unr8Strict8d Fund stood at a surplus of £37,87312023- £250,045). R•••rY•• poll¢y The Swlre Chari18ble Trusl was ¢r8aled in Oecember 1975 and provides the Trustees wKh wide powers of dlscretlon to dl8lrlbule the ¢Jon8tSons and olhor Income of the Trust lurKI for ch8riiabl8 purpo$88 8$ tha TfLlStees determlng. 11 Is the Trustees, policy not lo relain reserves within the unreslrfcled fund as overheads are bw and the grants that arg made vary 8ocordlng to the Income weraled. As such reserves are requlred to ensure the Tru$l's ¢onllnuetJ opgrallons. Endowment resorv8s a held within as rostricled lund3 to support lulure scholarshlps. At Iha balanc8 shget data Ihg funds held Sn the Endowment reserve were £5,820.84912023- £6,293.9941. K•y mana9om•nt p•r•onn•l r•mun•r•tlon The Trustees consider Ihe Board of Truslgtrs 8s comprising the k8y management personn81 In charge of dlr8Ctlng and conlrolllng the charlty- All Trustees give their brne freely and no Trustea remuneratlon Of xpense reimbursements were paid In the year. The day-to4ay operallon and admlnl8tralth of the Trust is dellver8d by John SwSro & Son$ Lld.
THE SWIRE CHARITABLE TRUST RE POR T OF TH E TRUSTEES Icontlnu8dl Year •nded 31 D•cember 2023 Risk manag•m•nt The tru5t88s afè satlsfied Ih8t appPrIate polici8$, protecllon, systems, and checks rem¥ln In place to mttigattr exposure to m8lor r15ks. Operational rlsks and pOlth arg raviowgd on a regular basls and ?r¢ also fomially consldw¢d by Ihe TfUSt80s. The prfnrypal risks fBc8d by the thlty Ile In th8 perf¢miance of Snv8Stmeftts and operatlonal rtsk9 relatlng to grant rnag that mlghl arisè from systerns failure andlor fraudulent appllcations. Thw& 1$ also a reputatlonal rlsk forthe through 11$ rèlationshlp wlth John SvAro & Sons Ltd. Inv•ktm•nts: Thg varioblllty of InveBtrnent relums Is the ¢harlty'$ malor financlal rfsk. 11 mttlgates th15 rtsk by fetalnlng export Inv¢stment advIaS and havlng a dlv8rsffied Investm•nt portfolio. Op•ration•: Thg ol In•ff•¢tlv• grant men9 through system¥ f4llure wdlor Iraudulont 8ppllcations Is rnl¢lgatad by carylng out r8s8arch and diugence on pot•ntlal grant holdor8 by a sk1118d gr8rtts rnanagerD8nt t8arn. All 8pplicatlons ar• mca8d, prOCed. and man¥g•d onlin8 to mlnlmlse tha rlsk of adrnlnlslralfve 8rriw5. Bank d8talls are vef108d In advance of all payménts, Including mul-Yo•r grnnts. BaD'D9 protocoL8 are al¥0 in ploce. Sncludlng multipl& layers of 8Uthorlsatlon for all paymlS. R•putatloD: Direct inyofvement ol members ol the Trust•8 808rd In the tIvItieS ol John Swke & Sons Ltd alyo 8n8ble8 tham to be fully appralsed of evenl$ that mlght glve to repuOnal rf$ks. Pl•n¥ for futur• p•rlod• The Tru81eeB 8r• ccmmitted lo respondlng to the noads of the charfty wtor, both through thé Trust's establlshod Ihematlc programm88 end by making athjttional fundlng available to addr•ss •xcqpllonal ne•d$. TAt•••' rupon•lbllltl•• In r•l•tlon to th• fin•ncl•l •t•t•m•nts The Trustw are re5pon91bl8 for Preparing tha Tru8lee8' report and tho flnan¢k41 8tat8rn8nts kn aCCordar vlth appll¢abl• law and Unlted Klngdom Accounllng Slandards. The law appllcable to charftles In England and Wales requir•9 th• trusta•s lo propare financlal ¥t8lem¢nts for each ftnan¢l81 y•ar whlch live a twè ond lalr view of th• slate of affalrs of the eharfty and ol tho In¢cfflln9 resour$ and applicatlcm of res0$ of Ihe charlty for that peri1. In proparing these financ4al stat•ment8, the INst8•s ore rtrJulr8d to.. $ele¢l Suitab accountlng polic9 and thw apply them con51sny. observe the methods and prkncJles of the Ch?rfU8s SORP- make JUdMents and accounllng esUm8les that are ra8sonable and prudent.. $tate whether applica0 accounting stand91ds h•v• b•en followed. sUt4ect to any depArturga 18closed and expl8lned in the fln8nd81 statements, and prepare the finanelal stalem¢nl$ on the golng Conc baS Unle it ly Inappropflatg to PuMa that the tharity wlll Gontlnue in busln•ss. Tho Trust888 ar• rP0ne lor keeplng Bccountlng IOrdS whh dlscloBe wlth m80nable accuracy lh• flnancial positron of the charfty and enat40 Iham to ensure Ih81 tho fin8nclal 51at8ments CoMY wmh th• Charfjifjos Act 2011, tha Charlly (Accounts and Report51 Regulations 2008 and thè provlslons of thg trust dèèd. They are also respon8ib18 for safeguarding tha assets of the charlty ond h¢n¢o ts takkng reasonablé stèps for the pre¥tIOn and delectlon ol fraud and other irregula•S. S C SWIRE For tha trustees 2025
THE SWIRE CHARITABLE TRUST AUDITOR'S REPORT Y•ar •nded 31 O•c•mb•r 2024 Oplnlon We have audlt8d the flnancial statements of Th¢ Swro Charitable Trust Ilhe 'charity'l lor Ihe yeBr endod 31 DOCnbel 2024, whieh compris8 the slalemont ol fflnanci81 acllvitles, balance sh88t. St8temenl of c8$h fl¢ws and notes to the financial stat8ment$, including a 5urnmary of gnme8n1 attountlng pdlclas. Tho financial reporting framework Ihot ha8 been applled In ih¥lr preparation Is appllcable law and Unltod KingdoTn Accounting Stsnd8rds. irtluding Financial Reporting Standard 102 Thè FlnanrAal Reportlng Standard appltable In tho UK and RopublK of Ireland Iunlled lQnk)Jom Generally ApIod A¢counUng Practk81. Thls feport Is fflade sclety to th• eharKy'8 Twsleas, as 8 body. In accordance wth regublions mad• und•r ectlon 1S4 of the Ch8rftl8s Act 2011. Our avdrt WOTk has been tsnd8rtak8n so that we mlght Blato to th8 ch8rSty's Trust8as Ihose matters wa aro r8quiraa Its state to them In an aud1to9 report arKI for no other purpose. To the fullest oxtenl p8mltted by law, w¢ do not accopt or assum¢ re$FK)nslblllty to anyentr othor than the charity and tho charfty'8 Trustèe8 88 8 body. for ¢ur 4udf( work. for thi8 report. or for tho oplNon$ we have fornwd. In our oplnlon. tho ffnonclal stst•rnent6'. glv• g trug end fatr vlew of th• stats of the charlty'8 8ffalrs 48 at 31 Decemb¢r 2024 and of It$ incomlng r8$oUr¥ and applicadon of r•sourw, Includlng Its Income and gxpondltum, for tho ygnr gndfjd., hav• b8•n pryerly prepared in 4¢Ta0• wlth Unll•d Klngdom G8n8folly Accepted Accnng pracC•., havè been pr•p•rnd In accardon¢e wtth Ihe TW]ulrem•nl$ of th? CharlU•$ Act 2011. lJJ•lJ for oplnlon Wa conductod our audlt In accordancè wlth Int8rnatlonal Standards on Audlllno IUKI IISAS IUKII And appllcable law. Our fesponslblli15•s under IhoÈe 3tané8rds arè further descrfbed in the Au¢Jtor'9 rewsiblllli•$ for tho audit of the financial sta19mlE secUon of our rgport. We are Indop8ndent of thè harity In accordancè wlth the ethlcJl T8qulram•nls Ihat are relevonl lo our audlt of the fina11 8181ament$ in tho UK. In¢ludlng the FRC'S Eth91 Stsndard. and we h¥vg fuffild our othér èthi¢¥l res31b111tl In accordan wh thèse requSr6m8nts. W? lIeVe Ihal tha audit gvldenc• wè havo obtaln8d 18 sufflclent and approprlato to provide a ba5 lor our oplnion. Conclu8long rnlatlno to golng conc•m In #ud5tlng the financlal staigm•nl$. we have Conclud that the trust8os' use of the golng concem b•sl8 of 8ceounUng In the Prepara0 of flnanclal stetemont5 is approwlale, Based on tho work we have perfomied, wtr h•v¢ not Idented any tnatarfal uncertalntles rel8llng lo events or ¢¢dItIOnS thaL Indi¥idu8lly or Colvely, may r¥8t svJnSflcant doubt co the tharlty's abillly to continue os a 90iro concem for a PgTiod of at thst months from Ythen th• ftnaneA•l stst8mrJts are ulhorfs8d for Issue. Our responbilitieS and the responsibilities of the trustees wth Tpe lo golng concA•m are descrlbed In lh8 relevant 9•CtionÈ tsf thls repori. Othor Inlormatlon The othèr informatlon cornprlses lh8 Infomiation kncluded In the Tffjstees, annual r•p(Kt, othei than Ihe nancial statem&nts our auditorfs rowt ther•w. The truste8s ar8 responble the other Inforrnatlon. Our oplnion Dn the financial statements doÈs cover the other Inforrnation and, èxcept to the extent othornise explic4Uy st8tèd in our report, we do tt 8xpr85$ any fomi ol assurance conclusion thereon.
THE SWIRE CHARITABLE TRUST AUDITOR S REPOR T Year end•d 31 December 2024 In connection wth our audit of th8 flnanclal sts19m8nts, our responsibility is lo read the olhar infomatton and, in dolng so, consider whather the other infomiali¢n is matèrially ineonsislent with the financial stat8monls or our knowledge obtained in the audit or olherwlse appears to be materially misstated. If we identlfy such malerlal inconsistencies or apparent malorlal mlsslatements, Wg are required to detemine whelher there is a material misslalemenl In the financial sta18menls or a material misstalemenl of the other informalion. If. based on the work we hav8 performed, we conclude that the 18 8 Mate81 misstatement of this other infoTm8tton, we are requlred to report that fact. We have nolhlng lo report In th1$ ragard. Matt•r• On whl¢h we ar• r•qulrnd to r*port by •x¢•ptlon Wa have nothing lo report In rospecl of the fdlowlng matters In felauon to which the Chadlles Act 2011 r8quSres us to report lo you If. In our opinS0n'. the informallon glv6n In Ihg Trustees, annual report Is Incon3iSt8nl In any material re$p8cI with the fln8nci81 s18tements', or the charty has not kept adequate accounllng records., or th8 finonclal stalem8nls are not In 8gro8menl th the accounllng records and returns,. or we have not racelved all the Inlormallon and explanall¢xs we rgqulre for our audll. R•spon•lbllt¢S0¥ of tru8t•e AS explalned more fully In the Trustees, responslblllllos stalemanl sol out on pagg 5, the Twslgas arn rgsponsible for the preparation of Ihg flnancl81 slat8menls and lor being $8lisfied IhBt they give a true and falr vi8w, and for such internal wntrol as the Trustees d81ormine Is n8cass8ry to anable the preparatlon of flnanc181 slaloments th8t 8re fr88 from materlal mlsslalemenl, wholhgr due lo fraud or 8fTOr. In prgparlng tho financlal slatemenls, tho Tru818e8 are respon$lble for assessing the charity's ability lo continue as a going concern, di5¢1osing. as appllcable. matters related lo going concern and using the golng concam basi3 of accounllng unle85 the Trusl&8s ollhgr Inl¢nd lo liqubdale the charity or lo cease operatlons, or h8ve no realisllc allernotlve but to do so. Auditor's rMpon•lbllltl•• lor th• audtt of th• financlal itattments We have been appolnled 8$ audltor under sectlon 144 of the Charltkgs Act 2011 and report In accordance wllh th8 Act and relevant regulations rrade or having affect thereunder. Our objectives are lo obtaln reasonable 88suranca about whether the flnanclal statements as a whole are free from material mlsslatement. whether dua to fraud or error, and lo issue an auditor's report that Includes our opinion. Reasonable assurance Is a high level of assur8ne8, bul Is not a guarantee that an audit conducted in accordance wrth ISAS IUKI will aayS delecl a malgrial misstalem8nt whan il exists. Mis5ts1ernents Can 8ris8 from fraud or error and are considered material Sf. Individually or In aggregate. thoy could r8asonably be expected lo Snfluen¢e the economlc decisions of users taken on the basis of these flnanolal stst8m8nts. Irregularlties. including fraud, are instances of fton-compliance wbth laws and regulations. We deslgn procedures in line with our responslbllltles, oullSned above, to detect material misstalemenls Sn r8SP8Ct of irregularili88, including fraud. Th8 extent to which our procetlures 8r8 capable of detectlng irregularities, includlng fr8ud Is dgtailod below.
THE SWIRE CHARITABLE TRUST AUDITOR'S REPOR T Year endod 31 D•¢•mber 2024 We gained an understanding ol tha logal and regulatory framework applicabl8 to the ¢h8rity by considering, amongst other things, the s8Ctor In whlch r( operates, and considered the risk of a¢ls by the charity that were contrary to appllcable laws and regulations, includlng fraud. We designed au¢Jil proc8dures lo respond lo the assessed lev81 of risk, bul recognised that the rlsk of not dat8CtSng a materlal mlsstalemenl due lo fraud is higher than thè risk of not dèteetlng onè rÈ$uking from error. as fraud may involve dellberale concealment by, for example, forgery or inlentionol mlsffjpr8s8nlatlons, or through colluslon. We focused on laws and reguLqtlons which could give rfsa to a matarial mlsststement In the flnanclal stslem8nls. Induding, bul not Ilmlled lo the Charities Act 2011. Our losls Included agreein9 tha financial statement dls¢losures lo undedylng supportlng documentsllon. enquiries with managomenl and anquiries of Ihlrd partles. As In all our audlls. we a150 addressed the rlsk of management overridè of inlemal controls, IlUdIng lastlng Journals and evaluallng wh8thor there was evldence of blo$ by management that represented a rl$k of malerlal misststemenl éue lo Iraud. There are Inherent Ilmilation3 in the audit proc8durgs descrfbed above and, the furthw removed non- compllance with laws and regulallons 13 from the evenl$ and transactions rfjflect in the financial stalemenls. th8 less likèly w8 wouI(i become aware of It. W8 dld not Idgnlify any key audll m8tter8 relaknng to Irregularili8s. including fraud. A further descrfptlon of our raspsIbIlItIs for thg audlt of the flnanclal 81alemenls Is located on th• Flnan¢lal Reportlng Councll's web511e al.. wNvw.fr¢.org.uklaudltorsresponslbllllles. Th18 descrlp15on fomis part of our audllorfs faport. Uso ol our r•port This feport Is made solely lo the chadly's Trustees, as 8 body, In accordance with regulallons made under secllon 154 01 the Charities A¢1 2011. Our aud51 work has b8an undert8ken 50 that we might state lo tha charSty's trust88s thos8 m8tl8rs we are requlred to slate lo them In on audllorfs report and for other purpose. To Ihg full9$1 oxtonl pefmStted by law, we do not accept or assume r8spon8lbllty lo anyone other than the charty and the charity's Trust8es as a body, for our audit work. for thls report, or for the oplnions we have form8d. Dixon Wllson Aud51 Sgr¥l¢es LLP, Slalutory Auditor 22 Chancery Lang London VVC2A 1LS 8 October 2025 Llxon Imlson Au¢Jit Seryice8 LLP 18 ell[Ible to act 88 an auditor in terms of $tion 1212 of the Cornpanies Act 20(k8.
THE SWIRE CHARITABLE TRUST ST A T E M ENT OF FI NAN C IAL ACT I VI TI ES Year ended 31 Docember 2024 Rostrlctsd Exndable R••trlctsd Endowm8nt In¢orn• Unf••trlcted Fund Fund Fund 2024 Tolal 2023 Totsl Not• Incom• and •ndowmgnts frorn.. Inve8t[rnts cbJniS and legacies Totsl Incom• ond endowmènts 269,830 59.777 329,fy)7 282,661 7,IXK).000 7.OW,(NXI 5,000,000 7,059,777 7.329,607 5,282,661 269,830 Exp¢ndllure on: R818ing funds CharItaa aL'viti08 25,765 1,049.437 25,785 27,254 7,271.949 6,321,386 6,7 12,084 Total •xp•ndltur• 1,075.202 7,271.949 6.347,151 6,139,338 Net galn8 on Inve¥trnont 8s$0ts 332,027 332.027 106,260 N•t l•xp•ndltur•lnncorn• Transfers between fund8 332,027 1805.3721 1212,1721 {685.5171 (750,417? 1805,3721 805.372 1473,3451 N•t mov•m¢nt In fub)d• 1212,1721 1685,5171 (750,41TJ R•¢oncllJa¢lon ol fund•', Fund balance l)roLyhtforwar at 1 January 2024 Fund b4lanc• carrl•d lorward It 31 D•c•Mr 2024 6.293,994 250,045 6,544,039 7,294,45fj 5.820,649 37,873 S,858,522 6,544,039 l amounts are kn respect of ¢ontlnulng acUvlti88. 10
THE SWIRE CHARITABLE TRUST BALANCE SHEET At 31 December 2024 Not• 2024 2023 Fix•d assets Investments 7,483,232 7.571,860 Currnnt a•80ts Dablor5 Cash al bank and in hand 208.784 400,232 13,385 741.818 807.018 755,203 Li•billtle• Credliors.. amounts falllng due wrthln ono y8ar N•t curr•nt Illabllltl••l 11.375,728} (1,060,024) 1768,710) (304.821) Credltor3: amounts falling due after ona year N•t a¥¥•t• 1856,000} 5,858,522 (T23,000) 6.544,039 Th• fund• of th• charlty: Restricted expandable endowment funds Vnreslrlcled fund 5.820,849 37,873 6,293,994 250,045 6,544,039 S,8S8,522 The flnanclal slat8menl$ on pagg8 10 10 25 were approved by th8 board of Iwslees on 2025 and were slgngd on Ils behalf by: SC SWIRE Trustoe q See4a4*ber 2D2
THE SWIRE CHARrrABLE TRUST ST A TEMENT OF CASH FLOWS Year ended 31 December 2024 2024 Total 2023 Total Not• Net cash u•ed In operntlng a1vIll•S 11.091.848) (316.088) Cash ffows from Investing 8clivili8s.' Dlvidends and intèrast 329,606 282.661 Proceeds from sala of Inveslmgnt8 7.208,845 749. 193 Purchase of Investmants 16,788,189) (1,207,890) N•t ca•h provld4d by Inv•¥tlng a¢tlvhl 750.262 {176,036) Chang• In cuh and c•Jh •qulv•l•nt• {341,5861 (492. 124) Cash and cash equlvalenls brought forward 741.818 7,233,942 C88h and cash equivolenls carrled forward 400,232 741,818 12
THE SWIRE CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 D¢¢emb•r 2024 A¢count5ng policles lal Basls of preparation and a8s•s8mgnt of golng ¢onc¢rn Tho financial statements have been prepar8d under the hi51DriC cost convention. with tha exception that Investments are included al market value. The flnanclal statements have been prepared in accordance wllh th8 Slalement of Rècommended Practice.. A¢¢ountrng and Reporting by Charilles preparing their accounts in a¢cordaneo wlth the Financial R8POrtlng Standard appllcable In the UK and Rapubllc of Ireland IFRS 1021 effectlve 1 January 2019 and the Charrties Act 2011. The flnanclal 8latemen18 are pr8s¢nled In pounds stwllng whlch is the fundional currency of the Trust ond rounded to th8 ne8resl £. Tho Trust conslilut6S 8 public benefit entity as defln8d by FRS 102. Thè Trustees conslder that there are no material uncertainlles about the Trust's ability to contlnue as 8 )ing concem. There are no signlflcant areas of ludgemènl and key assumptions that affect Items Sn ¢he accounts. Wlh raspecl lo the n8xI reporung pèrfod. the most slgnificanl area3 of uncertalnly that affect tha carrying valu8 01 agS8ts held by the Trust are the 18vèl of Inv6stmonl return and thè performan¢9 of Investment markats Is88 the rlsk management sectlon of the Iruslees. annual report for mor8 informalionl. (bl Fund* ¥tructur• The charSly has an endowment fund cr8aled by a gift. The income of this fund is unreslrict8d. The terms of the endowm8nl allow the capltal of the fund lo be spent If the Trustaes so determine. Unre51ricled incom8 funds comprlse those funds whlch the Trusloes aro free lo use for any purpose In furtherance of the charltable objects. unStrICted fund5 Include d8signat8d lun¢Js wharg the Tnjstaas, al Iholr dl3crellon, have created a fund for a speclflc purpose. Th8 assets of tho rgslriclod fund were transferred lo Swlre Charllable Twsl on 31 December 2015 from the Swire Educab'onal Trust. Th8s8 asse15 continue to be used lo furthar tha purposes of the shre Edu¢aOon81 Tru81. which has now been wound up. The oble¢l$ of the fund are lo promot8 and 8dvance educalS¢)n by 811 such means a5 may b8 approprlate to charlt8bl8 purposes and fijrthèrfng the educatic of parsons attending educallonal establl$hm8nls In the UK or overseas. Ineom• r•cognltlon All Income Is recognised onc8 the charity has anlltlem¢nl lo the Sn¢ome.11 Is probable that the Sncome wlll bo received and amount ol Income receivable can be measured reli8y. Donallons are recognised when the Trust has been nolifi¢d In writing of both the amount and setuemenl dale. Interest on funds held on dèposit is Included when receivable and the amount can be measurad rellably by Ihg charlty., Ihls is normally upon notification of th8 int8r8sI pald or payablo by th8 bank. Olvidends arg recognised onc8 the dlvidend h88 been declared and the notiflcation has beon r8celv8d of the dividend due. Thls is normally upon notfficallon by our Investment advisor of the divldend ylald of the Investment portfollo. Id) Expendlture recogn5t5on LialItIeS are recognls8d as expenditure as soon as ther8 Is a legal of wnstru¢tSv8 obligation commltling the charity lo that expenditur¢, il Is probablo that settlement wlll be required and the amounl of the obligation can be measured reliably. Grants payabla ar8 payments matle to Ihlrd parties in the furtherance of the charltable objec15 of the Trust. This 15 accfued once the recApiont has bggn notified of the grant award. (•) Irro¢ov¢iable VAT ITrecov8rable VAT is charged agalnst the 8xpendlture heading for which il was incurred. 13
THE SWIRE CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEhAENTS Year ended 31 December 2024 In Costs of ralslng fvnds The costs of generaung funds conslsl of Inv8stmant management faes and are attrlbutsble lo tho restricted lund in both years. Ig) Support and governance costs The charity dogs not Inr support costs. Governance costs comprise all costs Involving tha publlc a¢counlabilily of th8 charity and ils compliance with regulallon and good practicg. Governance costs relate lo charitable aclivllie$. (h) Inv•#tm•nt galns and1¢$66s All galns and losses are taken lo the Slal8m8nl of Flnanclal Actlvitles as they arise. Realised gains and losses on investments are calculated a5 the difference b8fv4een salgs pro¢eeds and Ihelr opening carying value or thelT purchasè value118cquSred sub$equ8nt to th8 flrst day of th8 financlal year. Unreallsed gains and loss8s are calculated 8s the dSfferenc& ba8n the falr valu8 al the year end an¢J their carrying value. Realised and un915$8 invastmenl gain8 and ksses are comblne¢J In the Slalemenl of Finan¢i81 Actlvilies. Flx•d a8••t Inv•stments Inv88lmenls are 8 fofm of basic financial Instnjmenl and are Inlllally recognlsgd al Ihelr transaction value and subsequently measured al their falr value as al tho balanc8 sh88t dale uslng the c108ing quoted markal prtce. The slalemenl ol financlal acllvltlos Includes tho net galns and losses arIng on ravaluallon and disposals throughout the y&ar. The Trust does not acquire pul optlons, derfvallves or olh8f ¢omplex flnanclal Instruments. Thè maln fomi of fln8nclo1 rfsk faced by Ihe chadty Is that of volallllty in equlty markgts and Inveslmgnl markgts due to wlder aconomic conditions, the attitude of Invastors lo Investment risk. and changes in sentiment concerning equities within particular sectors oi sub soclors. Cr•dltOf8 Credllors are recognlsed whgre the charity has a present cbllgallon resulting from a past event that will probably results in the transfer of funds lo a Ihlrd p8rty and th8 amount due to settle th8 obllgalbon can be measurad or esllmated rellably. Invetmont lrteomè R••trfct•d Incom• Unrn•trlctsd Fund Fund Re•trlct•d Incom• Unrn8tri¢t•d Fund Fund 2024 Tothi 2023 Totsl UK bank Intwesl UK ul1086 Fixed interest 59,777 59,777 264,378 5.452 IT,162 17.162 246. 157 19,342 264.378 5.452 248,157 19,342 265,499 269,830 59,777 329.607 17,762 282,661 14
THE SWIRE CHARThABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year gnded 31 December 2024 Analysls of Charltsblt expèndlture Tho charfty dld not undertake any acllvlly dSre¢lly bul rn8t its charltablg purposes by mgking don81k)ns and grants. 2024 2023 ABandofBrolhers Aco Africa UK Action for Cons8rvatlon Action Foundation Actkjn Tutoring JI SaSnts' Gazeley Parochial Church Coundl AJzheSmerfs Research UK Arngueddfa Cymru National Museum Wales Apex Charitabl8 Trust Ltd Archaeology S¢otland Alka Communlty Forest Assisting 8erkshir8 Children To Read Asylum Welcome Avon Needs Trees Awards For Young Mu¢10n8 Back on the Map B8rca-Leeds Beaumond Hous8 Hosplce Care Become Belong Bdville Ccffimunlty G8rd8n Tfust Bimingham Botanical Gard8ns Breaklng 8arrler5 Brldges Project Bright Green N81ure Bristol Hospll81ty NeOrk Bristol R8fug88 Rlghl8 BTilannla SaSllng Trust British Explorlng Soclety Bri115h Red Crosy Brunswick Youth and Communlty Centre Burma Stsr Memor181 Fund Capital Klds Crlck8t CARAS Icommunrty A¢tion for R9fv95 and Asylum Seekers Cardboard Cftlz8ns Cardinal Hume C8ntr Caring in Brlstol Caris Camden Families Carllsle Youth Zone C8rym¢x)r Envlronmental Trust Centre For Alt8mallve Technol Centrepoint Soho Chance to Shine Changlng Tun88 Carri8d fotW8rd 20,000 7,500 30,000 5.000 30.000 25,000 40,000 4,000 5.000 2,500 20,000 14.693 20,000 13.000 5,000 20,000 20.000 30.000 30,000 10,000 32,911 1,0 15,000 20.000 20,000 30,000 20.000 75,000 20,000 12,500 10,288 20,000 iO,Qi)O 40,435 5,000 15.000 12.000 15.000 200,000 25.000 10.000 25,000 24,416 46,281 25,000 20,000 15.OiXI 20.000 25,000 20,000 10.000 20,000 100.000 3,500 20,000 3,500 893,628 444,956 15
THE SWIRE CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Yvr ended 31 December 2024 Analy¥l8 of charlt•bl• oxpendltur• {continuedl 2024 2023 Brought forward 893,628 444,956 Charnwcx)d 20..20 (Twenty Twenty) Chawton House Chefs in SchDoIs Chlldren 191 Childr8n Sgen and Hgord Churchos Conservatlon Trust City & Guilds of L¢ndon Art Schwl City year UK Clean Break Theatr8 Company CleanUpUK Clyn8 Horila99 Socloty Cockpll College of Arms Communty Heart ProducUon8 Communty Inlliatives South Wgst Ltd Communlty Solutions North Wast Ltd conseoI10n Coll8cllve Dèvon EnvSro Foundallon Contact Hostel Councll for 8rilish Archaeology Country Trust Cumbria Wlldllfe Trust Curwenl Prlnl Study Centro Deafrjlind UK Delapr8 Abbey Preseryalion TTU51 Ltd Demgnlla UK DIG In CIO Doctors of the Worfd UK tk)orstep Llbrary Neiwork Dulwlch Pl¢lurg Gallgry Dund88 Mus8um ofTransport E8rty YeaTS SGolland Ella's Hom8 Emplra Fighting Changed Endaavoui Training Ltd Epplng Forèst Heritage Trust Family Friends Farms for City Chlldren Field Studies Council Fluh14Change Foundat1on Fln81 Straw Foundation Folkstone Leas Lift Company CIO Foodcycle Foundling Museum Frlend5 of the Cromft)rd Can81 Frlend Of The Upper Wye Friends of W•stonbrit Arbertum 20,OCQ 20,OC 10,OCQ 15,000 20,000 75,009 29,OOQ 30,000 40,000 25,000 20,000 15,000 10.000 20,000 10,500 40,000 20.000 25,000 15,000 18,202 15.400 15,000 10,000 {10,0001 10,000 10,000 100.000 25,000 15,000 20,000 22,000 5.(KlO 5,000 72,000 22,500 20,000 21,100 30.000 31.983 25,000 20.000 15,000 9,400 20,000 24,004 30.000 20,000 20,000 32,292 20,000 15.000 20,000 24.950 10.000 8,000 18,690 30.000 30.000 Carri&J forward 1,422,447 1, ITO,198 16
THE SWIRE CHARABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 An•lysl¥ of ¢harltabl• •xp•nditure IntInued) 2024 2023 Brought forward 1,422.447 7, 170. 198 Future Fronllers Gardenlng wllh DSsabS1111os Garden Museum Gingerbread, The CharSty for Slngle Parent Famllles Glenco8 Folk Mus8um Gloucester C8lhedral Go B8yond Greater M8nchesl8r Youth N8rk Green's Wlndmlll Trust Groundsw811 Nahork Support UK Groun¢tsork UK GROW Growing Works Gwrych Castle Pre8erv811on Trust Ltd Ha¢ro Haslings Internalion81 Plano Heart Of Argyll Wlldllfe Organlsallon Heel8y City Farm Ltd HELM Trainlng Helpforcè Communlly Helplng Uganda Schools IHUGSI Herltagg Llncolnshlrg Heritage of L(dOn Trust HertfOrdshI And Middl8sex Wildllfa Trust Herts Young Homeless Group Heslercombe Gardens Trust Hasba Houslng and Support Hlghground Hlghlands & Idands Envlronmenl Foundatlon HSslortc Bulldings and Places IAn¢lgnl Monurnenl Socl8ty1 Historic England FoundalSon Hope for Jusllce Hope In H8rlngoy Horallo's Garden Horizons IPlymouthl Household Divislon Fund Organ Roplacemenl Hull Children's Unlversity Humèns MCR In Your Space Circus Institute of Con5ervallon Intamiisslon Youth Intemallonal Tree Found81ton Intouniversily Jacari Jamie's Farm Justice and Care 30.000 25,000 5,000 81, 160 60,000 20,000 20.000 19.200 30.000 5,500 25.000 50,000 1T,000 10,000 26,750 25,000 10,000 35.000 20.000 10,950 19.000 15.000 20.000 53,000 5,000 10.000 25,000 2,500 25,000 18.727 40.000 35.000 25,000 20.000 20,000 70,000 10,000 02.600 10,000 27.420 5,000 12,000 10,000 12,000 14,000 14.000 20,000 20.000 10,000 39,955 20,000 10,000 30,000 10,000 25,000 20,000 1.681,858 10,000 Carried forward 2,171,549 17
ThE SWIRE CHARrrABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year •nd•d 31 De¢omb•r 2024 Analplg of ¢harllabl• gxpèndituiè (continuod) 2024 2023 Brought forward 2,171,549 1,681.858 Keep Wales Tldy KEY4LIFE Khuli8a Klng Edw8rd Vl and the Reverand Joseph Prfme Almshouse CharSty Knepp Wlldland Foundallon Lake District Foundatlon Lancashlre Wildlife Trust Launch It Trust Lawrence Weston Ccffjmunlty Farm Leap Conlronlbng Confllol Learn EnGllsh al Hgme Lelghlon Llbrary Trust Levol Trust Llf8 Cycle Llght Up Learnlnq Link lo Change Llttle Angel Thgalre London Symphony Orchestra London Wlldllfe Trust London Youth Cholrs London's Air Ambulance Loughborough Juncllon Acllon Group Maglc Bre8kfasl M8rg8rel C8rey Foundatlon Merchant Navy Assoclalion Mlch8el Roberts Charitable Trust Mentor Link Mlsslon lo Sealarers Moor Trees More Tre83 For Bath Amd North East Som•rset Move On Movlng On Durh8m Museum Of London Music In Sec¢ndary Schods Trust hAyblgcareor Mybnk Mytime Young Carears NaUonal Garden Scheme Number Two Natlonal Herltage Ironwork Group National House Proleol Nene Rivers Trust CIO Nepac5 NIACRO North East Young Dads and Lads Project {NEYDL} North Essex Herftsge North Wales Wildlife Trust 50,000 20,000 20,01 12,000 20,000 9,850 fo.000 35,000 18,0(N) 20,01 10,000 30,000 5,000 10,000 30.000 15.000 10,000 20,000 20,000 15,0 20,OIJ) 15,O¢J) eo,000 23,479 35,000 10,000 24,000 12T,550 20,000 5,000 15,000 10,000 36,000 30,000 5,000 10,000 10,000 25,000 25,000 40,000 54,717 10.000 25,OlXI 30.000 20.000 3,000 40.000 25,000 30,000 3,000 31,Tll 23,OQO 20,000 40,957 Carried forward 2.823,073 2,330,598 18
THE SWIRE CHARrrABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Ygar ondgd 31 DKombor 2024 Analy818 of charitable •xpendltur• Icontlnu•dl 2024 2023 Brought fon#ard 2,823,073 2,330.598 Northern Woods Oldham Ltd Nottingham and Nottinghamshire Refug88 Forum Now Teach Number Ch8mplons Oarsome Chance Off the Streets Old Kilpatrick Food Parcels One Elghl One Parent Famil5 Scouand One Small Think Only Connect UK Opportunity Sports Foundali¢xt Orplngton Football Club Paignlon Plclur& House Trus1 PaSon for Learning CIO Pembrokshlre Coast Ch8rllabl8 Trust People's TTUSt For End8ngar8d Specl8S Pirnlico Muslcal Foundallon Plan International UK Plastic Free North Devon Portsmouth S811 TTalnln9 Trust Posllive Youth Foundall¢)n Power2 Ltd Priority Youth Prolool Prtson Advbce & Care Trust Prison Radlo AssoclatSon IPRAI Pure Insighl Queen EIIz8b8lh S¢holarshlp Trust Quenlin Blake Cantre For Illustralon Radnorshlre Wlldllfe Trusl RBG K8w Friends And Supportors Re.'Work Ltd Reachoul UK R8buSld East Mldlands Rafvgee Action Klngslon Rafu0 Rosour¢e Regenerate Renaissance Foundallon Right To Succggd Rokl Foundation Room To He81 Roundabout Royal Ar Forc8 Mus&um Royal British Legion Industri95 Lld Royal Brompton & H8rafi8ld Hospitsls Charity Royal High School Preservation Trust Carded forward 50,000 20,000 30,000 3,400 23,991 20,000 25.000 15.000 10.000 14,000 20.000 50,000 10,000 2S,000 10,000 2,500 2.000 25.000 20,000 11,000 25.000 5.000 50,000 12.000 16,000 10,000 25.000 20,DOO 35.000 35,000 30.000 35,000 50.000 15, 701 15,000 20,000 35,000 30,000 50,000 85.000 16,000 25,000 25,000 10.000 25,000 24,000 10,000 15,000 10.000 20.000 25.000 9,688 20.000 20,000 25.000 25,000 45,000 5,000 100.000 3,756,152 2,817, 799 19
THE SWIRE CHARrrABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year •nded 31 D•comhr 2024 An•lysls of charttable expendtture (¢ontlnu•d} 2024 2023 8roughl fard 3.756.152 2.817, 799 Royal Marsden Cancar Charty Royal Muséums Greenwich Royal Navy and Royal Marines Charlty Royal Society for Asian Affairs RSPB Ruddi's Retreat Safè and Sound Group Save the Family Scotdsh Seabird Centre Scotush Wildlife Trust Soamab Seaview Salllng Trust Selsay Pavllllon Trust Slngle Hom818ss Project Slron8 Therapeullc Horsemanship Slough Fort Pre5ervatlon Trust Small Woods A8soclalSon Soll Assoclallon Somers81 Wildlands South Cumbria Riv8rs Trust South Downs Natlonal Park Trust South London Refug99 Assoclalion Spark Inside Speyslde Fields For Wildlife Splll Fèsliv81 Spurgeons SSAFA SS Great Britaln Trust Sl Andraw's Preservatlon TnJ8t Sl Andrew's Youth Club Sl Colomb's Hall Trust St Glles Church, Tc¢kenham St Mungo's St Martln-In-The-Fl8ld8 Trust Sl Michael's Hosplc8 St Wincent's Family Projact St Worburghs City Farm Staffordshlre Wildllfe Trust Standout Programmès stanley Arts Steamship Freshspring Trust Step by Slep Partnershlp Lt¢J St6p Together Volunteering Stop the Trafflk Street Leagug Strength and Leaming Ihrough Horses Carried forward 1,000 100.000 5,000 4,000 59,507 20.000 20,000 25.000 20,000 30,000 45,000 75,000 10,000 24,000 50,000 10,000 6,000 32,000 25,000 30.000 20.000 15,400 40,000 40,000 30,000 20,000 2.500 15,000 20.000 45.000 18.000 25,000 25,000 22.000 3,000 20.000 100.000 31.800 7,500 15,000 15,000 20,000 50,000 20,000 20,000 20,000 6.000 20,000 25,000 20.000 25,000 50,638 30.OLIO 15,OQO 3.524,337 30,000 10,000 4.548.959 20
THE SWIRE CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Ygar gndod 310mbar 2024 Analyslg of oharltsblg exwndlturo 1contlnul 2024 2023 Brought fcrnard 4.548,959 3,524,337 Stroke Association Sutfolk Building Presorvalion Trust Sufra NW London Surfers Against Sewago Su88ex Hori18g8 Trust Ltd Svssex Nlghlslop Sustalnable Kirri8mulr Tall Shlps Youlh Twst Taods Tate Gallery Teach FSr5t Teclona Tnjsl Ltd Teen Acllon Tham8s21 Ltd The Ahoy Centre The Aire Rivers Trust The Avenues Youth Projèct Tho B17 Sl88m Locornoffive Trust Th8 B8ca Chadty Tho Baobab Contre For Young SuNlvors In Exll8 The Big House Theatre Company The Boleh Trust The Boston Preservation TuTSt The Bridge Easl Mldl8nd8 Tho CArdln81 Hum8 Centre Tha C8lherdg1 Archer Project The Contro For Afrlcan Enlrep8neurshlp Th8 Chapters At Wells Calhgdral The Children's Literacy Charity The Chlttern Soclety The Churches Conservallon Trust The Cirdan S8il Trust Tho Clink Charlty Tha Conservallon Foundallon The Dean And Chaplgr or Brecon Cathedral The Enthum Foundation The Felix Project The Frontline Organisallon The Garden Trust The Georglan Group Tha Gurkha Musgum Friends Account The Hardman Trust The Heart Of England Forest The Herltag8 Crafts Assoclati¢)n The Heritage Allianc8 The Heritsge Of London Trust Carried fonvard 1,000 10,000 25.000 5,000 15,000 14,000 15.000 25,000 50,000 75,000 20,000 8,535 39,814 25,000 30,000 10.000 8,000 25,01)0 20,000 IS,Lo 10,000 5,000 5.000 25,000 20,000 20,000 35,000 25,000 40,000 15,000 20,000 30,000 15,000 11.200 40,000 10,000 30,000 15,000 48,640 75,000 10,000 10,000 50,000 25,000 40,000 35,000 20,000 40,000 10,000 10.000 25,000 35,000 5.589,413 3,750,OT2 21
THE SWIRE CHARrrABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Y•ar ended 31 December 2024 Analy818 of charltablo oxpendtture {contlnued} 2024 2023 Brought forward 5.589,413 3, T50,072 The Irene Taylor Trust The Island Trust The Jon Egging Trust The Kent and East Sussex RaiaY Company The Klngs Foundation The Lltaracy Plral8S Th8 London Wildlife Trust The Lune River5 Trust The Mllls Archlve Trust Tha Mlsslon To Seafor8rs The Mulrh8a¢J Outreach Prol8cl Ltd Th8 Mustsrd Tr88 The Nelso Trust The Nud80 Proloct The Orchard Project The Passage The PCC of Molsonby The Princ8's Foundallon The Pump (East Birmingham) Ltd The Purcell School The Re8der The Rtvers Trust The Sgafarors, Charity The Snowdrop Project The Soclety for the Protectlon of Andenl Bulldlngs The Sutton Hoo Shlp S Company The Swltchback Inlliatlve The Trussell Trust The Twenllelh Century Soclaty The Upper Room ISI Savlourfsl The Wclorlan Sodety The VS1189e Hub Communlty The VSncent Wlldllf8 Trust The Wlldllle Trust of South and Wesl Wale8 Theatre Development Trust-Thealre Artlsls Fund Thaalres Trust TheHorseCourse Their Voice Tlme To Help Tomorrow's Woman Wrral Traffik Analysis Hub Trailblaz8rs Mentoring Ltd Tronsition Edinburgh South Trglya Trowbridge Town Hall Trust Ltd Tullie Museum and Art Gallery Tnjsl Carried Forward 15,000 15,000 30,000 21,000 30,000 25,000 30.000 25,000 50,000 22,235 12,500 35,000 40,000 40,000 30,000 24,ODO 30,OCIO 11,500 50,000 25,000 22,000 36,594 100,000 5.000 25,000 10,000 10,000 15,000 30,000 30,000 120,000 10,000 10,000 10,000 qO,OLX) 10,OOQ 10,000 10,000 20,000 20,OCk) 10,000 30,000 10,000 10,ODO 30,000 15,000 10.000 22,340 15,000 10,000 10,000 10,000 5,000 25,000 46,430 25,000 50.000 6.313,078 4,498,008
THE SWIRE CHARITABLE TRUST NOTES TO THE FINANCIAL ST ATEMENTS Year ended 31 December 2024 AnalyslJ of ¢harllabl• eXndItUre Icontlnued) 2024 2023 Brought forward 6.313.078 4,498,006 Tullochan Tutor The N8llon UK and Euro World Lit8r8ey Foundation UK Men's Sheds Assodallon Unl¢om Preservallon Soclety Unlcef United Kingdom Sailing Acad8my Unlversty Education Upreach Ch8rllable Company Veterans Ould¢)or8 Vllllers Park Educallonal Trust Voice5 From Care Cymru W6ar Rlvers Trust Wesl London Zone Wesl Lolhlan Womens Aid W&st hhidlBnds Anll Sl8v8ry Neork Wesl Country Rivers Trust Whlrlow Hall Farm Trust Limlted Why Me? Transftsrmlng Liv88 through Reslorallv8 Jusllce Wlld Things Environmen181 Education In Action Wlldllla Trust For Bedlord C8mbrSdge & Northampton Illon's Muslc Hall Vvlllshire Archaeological and Natural Hlstory Sodgty Winchester & Oislricl Young Carers WWF-UK XPL (The Excel Prolecl} Yes Outdoors Yeovll Riv8rs Communlly Trust York Mlnster Fund Yorkshlre Dales Rlvers Trust Youn9 Carers Developmonl Trust Youn9 Steps Young Rooly Youth Acuon Alllance Youth Adventure Trust Youth Leads UK Youturn Futures 25,000 18,000 22.498 15,000 15,000 io,ooo 50,000 50,000 15,000 25,000 15,000 50,000 15,000 20.000 37,247 24,000 20,000 21.617 30,000 24.000 25.000 20,000 25.000 10,000 150,000 25,000 40,000 20,000 15.000 25,000 30.000 30,000 20,000 10,000 +YO,000 40,000 20,750 12,000 12.000 4,300 25,000 25,000 30,000 25,000 25,000 15,000 25.000 7,087,692 5.009,804 DatIOnS and grant8 of less than £1,000 during the year Grant giftlng for edUCaOnal scholarshlp s¢h8m8 Total donallons 1,30S 1.044,840 8.113,837 948,638 5,958,442 23
THE SWIRE CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Yèar ended 31 DK•mb•r 2024 AMly¥ls of charltable expenditure l¢ontlnu•d) 2024 2023 GovornanGg Costs allocated to ch8rltabl& actlvlfl8s.' Consultancy costs Auditor's remunerallon 202,199 S,350 207,549 14&332 5,310 153.642 8,321,386 6, 112,084 In 2024 £7.271,949 {2023 £5,180,749) of charilablg expendf(ure related lo the unrestricted fund and £1,049.43712023 - £951.335) r61al8d lo th8 restrlot9d Sn¢om8 lund. Flx•d 48s•t Invo8tm•nts 2024 2023 Quot•d Invo•tm•nl• Market value al start of year Additions al cost DIspos81 procggds Nel rgalised gains on dlsposal Not unr6alised inveslmenl Ilos5eslloalns Mark81 value al and of year 7,S71.860 8,788,190 17,208,845 624.533 1292,506) 7,483,232 7,006,903 1,207,890 (749, 193) 95,936 10,324 7.571,860 Th9 ng1 realls8d lossas figurè Sn the 8lalemenl of fln8ncl81 Includ8s a foreign gxGhange galn of £nil12023 - £nill. The hlst(xlco1 oost of Investments al 31 December 2024 was £7.093,41912023- £6,889,541>. Thera were 2 Investments In Indlvldual entities held al 31 December 2024 whlch w8re over 5•k of the portlollo by v81ue lin¢ludlng cash deposrtsl and are therefore ¢¢51dered by the Truslaas to b8 malertal In Ihg conloxt of the investment portfollo. 3,377,497 Sarasln Endowmgnt Fund Class A Inc- Market value £4,340,083158.0%1 3,086,873 Sarasln Incomo Reserves Fund Class A INC- STP Market value £2,985,824 (39.9%1 The nel realSsed galns on investmenls this ye8r and In tho prtor year rglalod to the reslricled expendable endowment fund. D•btorn 2024 2023 Other debtors 208,784 13,385 24
THE SWIRE CHARABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 Dec•mb•T 2024 Credltors 2024 2023 Amounts fallSng due wlthln on• y•ar Donalionslgranls payable Accruals Otr cradf(ors 218,000 18,395 1,139,331 2LIO, 700 11,983 847,341 1.375.726 1,060,024 Amounts falllng du• aft•r on• y•*r Donallon51granls payable 856.000 2.231.726 723,000 1, 783,024 Analy818 of nèt a•••t• b•tw••n fund¥ R••¢rl¢t•d Endowm•nt Unr•$trl¢t•d Funds Funds Total Fund balances as at 31 Decemb8r 2024 are reprosenled by.. Debtors Cash at bank and In hand Crgdltors due wllhin 1 year Creditors due in more than 1 year 206,784 152,175 11,185,542> 1858.0001 208,784 248,057 400,232 1210,1841 11,375.7261 1856.0001 Investsnants 7,483.232 5,820,649 7.483,232 37,873 5.858,522 R•ncIlIatIOn of net movement In fund• to n•t Cash flow from op•ratlng octlvltl 2024 Yotal 2023 Total Net mov8m8nt in fvnds Deduct incorne from invaslmgnl$ (Gain5} on investments Increase In credllors IDecre88eyincrea86 in debtoryJ Nal cash used In operalln9 acllvltle8 1685,517) (750,417) 1329,6071 (282,661) 1332,0271 (106,260) 448,702 715,811 1193,3991 107,439 (1,091.848} (316,088) 25
THE SWIRE CHARABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Y•ar èndéd 31 December 2024 Related party tran8actlons Durlng tho ygar John Swire & Sons LSmiled, 8 cempany In whlch some of the Twstees hava a participating in16re$l, gave don8Uons wSlhoul conditions of £7,000,00012023 - £5,000,000) and paid expenses on the ¢harty's behalf tolalling £1.044.840 {2023 £948,639). Al tho year end £1,139,331 12023 - £847.3411 was owgd to John Swlre & Sons Llmlled. Durlno the year, the trust paid donatlons of £nil (2023 £nS11 on behalf of John S%ra 1989 Charitable Trust, a trust in whoch J S Swbre and B N Swire are truste8s. and was repaid funds lo the value of £nll 12023 - £110,000>. At the balanc• sh88t date. th8 amount dut from John Swire 1989 Charitabl8 Trust was £nll12023 £nll}. Durlng the ye8r. the Twslees re1V?d no emolumen15 or relmbursemenl of expen80s for thelr servloes (2023- none). 10. Flnanclal 8•8•t8 and Ilabllbtl•• The following are flnan¢ial liabllllles that quallfy 8$ basic financial inslrumanls and are inmially recognlsed al transacllon value and 8ubsequenlly measured al their amcrtlsed cost. Flnanclal Ilabllltl•• 2024 2023 Accru818 Oth8r ¢redlior8 Donatlonslgranls poyoble 18,395 1,139,331 1,074,000 2.231,726 11,983 847,341 923, 700 1, 183,024 Tha followlng 8re financial assets Ihal quallfy as bas5¢ flnanclal Instruments and aro Inlllally recognl$ed 91 Ihalr Iransactlon value and subsequ6nUy measured at their fair value as al the balan¢0 $hg91 date ugng Ihe closing quoted market prfce., Flnan¢l•l asB•ts Quoted Investments 7,483,232 7,483.232 7,571,880 7,571,880 26