Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Swann-morton Foundation Annual Report and financial statements For the year ended 30 June 2023 Charity No 271925
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Swann-morton P•undatlon Annual Rgport and f5nanclal $tatement$ for the year gndod 30 Jvne 2023 Trustees and advisers ¢harlty reglstratlon numbor. 271925 Bankers: BarclAyS Bank PIC l)0 Bnx 1385 2 Arena Court SHEFFIELD S9 2WU Solicltors: Wake Smirh No I Velocity 2 TentcE %trc¢r SHEFFIELD Tru$te•s: J l Giimour I J fvIcGiniry G Rodgers Address: Penn Ivorks Chvlerton Green %] IEFFIELD .%6 2BJ Independent •xaminer. Christophtt Bagnau FCA GrantThomton UK LLP Chartered Accountants l Jlolly Streer SHEFFIELD 512GT
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E sw0n-m0*t0n Foundatlon Annual Report artd flnanclal statgments for th• y•Ai •nd•d 30 Juno 2023 Index Trustees, report Ind•pendenl examlner s rèport stat•m•nt ol flnancial actlvilies Balane• sheet Notes to th• financlal stalements 7-10
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Swann.Morto Foundatlon Annual Report and financlal stat•m?nts lor th• year ottdéd 30 Juno 2023 Trustees, Report The rrustees present their report and the financtal statements for th¢ y¢ar cndcd 3n Junc 2023. TN$t••s of the company The tttt$ who hdd office dufjng the yearwcrc AS follo. J I Giitn¢) J McGitdey G Rodgers Tru$tMs' R•port The ttusrees pr¢seftt their rport thngwftth the financi215¢0ranents oEthc Chatity for the yeAt ended 30 June 2tr23. The finanLiaJ ststeMts have been prepred in accotdance WAth the accouttung pob.ries set out on page 7 gnd onJplyTrith the Charl3 tt dced And appjicgbk ]aw. Constitutlon and obl•et$ The Svpann-motton foundation ts con3uNted utmler 4 rnist deed dared 12 1976 And is a rcpistcitd Chariry No.. 271925. The aims Ind objectivts oEtbc Ch92ity ace as fo]lows.' The gdvaneernentof educAtion by the ptornotion and encouragement oe5tsJdy g]id re5rdThh in the fields of $urgeLy And medicioe and there Ippropriate the publieation of the tcsuits of Such resea. The odvattcetDent of education in such otherways as the tru¥tee8 ll]&y thitLk fjt atsd particular by maku gtsnts to any sdi(x)l. colleg4 univetsity or other cducAtionglingutUtioA for its educationa] purposes cnerally or fot any particuJr educational purpose theieoland by mAking and awatding grsnts. scholarships. exhibitions and piizes for the encouragement of study Hnd learning and the assistanc¢ of persons lgeduCated or pursuing courses of study or learnitig atany such school college university or Instition or e]sewhere. The ielief ofpoverry Ind in particukt the pmvision oEfin¥ocial and other help to any pcxwns who ate cmployees fottner clOyeeS of W R SwAlln & Co litnited. The telief of 3uEEeitngaDd &'stre55 9mong those who are sick. infirm. itijuted ot OttnlSe physically or mentalty bandleped or disabled. The tr]ief of povery and p2rucu]ar the pTrvisAon of fthancial attd other help to any persons who or¢ empli)yees or Eomier employce5 OEW R Swann & Co Iimired. The prornotion of gny other ¢hatitsb]c tsust or cornpony Eot the Idief of sufEeringordistttss. Thcx aims and objectives were met by the appjiclltion of the unrc¥tricted fund& The Charity CIleS out the8e objectives by nJ2kin8 donation5 to loc9] and national ch9riti And givitigstlldy grants to local students. The tn]stee$ refftoin confident thar the Cknity demonstrat¢$ propetly the pub]ic benefir ¢xptcted by the Ch2tiry Commix%ion tiollgh thege im$ and objectives. The Clwity has rcfetted to tlie guidat¢ ivntained in the Chariry conLS510n,s general guidance on pubjie benefitwhen teviewin8 our xims aDd o'ectives and in pjktjtiingour fi]tllte activides. Appolntment of Trust•¢8, Induetlon and Tralnlng New ttustees maybe appointed by a resolution of th¢ ayistitkg trnstees. Newly ejected ttu$tees given 4 bAeEon the OVdnis*tion's stDJcture 9nd theit responsibi]itie5 as uwtees.
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E R•lat•d Parties The Challty jojndy olvns s/1 of W.IL Svann & Co limited 2longwith W.R. & Co Employe¢$ B¢nefit Scheme. The Charitrf8 accoufttancy c05r% 8re tx)rne by Swattn-hlorton Iimited. a subsAdiaLy of W.IL SwatJA & Co Iamited. A gift lid d<ation is mad¢ by Sw9n.Ort0 Limi¢e¢L anot1 group subsidiary on an 2nnuai basAs. Rlsk 8tat•m¢nt The tLUStees believe that due to the fact the Chatity ts funded by a Bift aid donation from the W.R. & Co Group. that thc Charity Asn't at SI1¢&nt risk Organlsation Thc trn$tee5 who haTe seEYed dutittg the year and 5ioce the yeat end Arc set out on WAge l. Ttee5 ar¢ appointed by the boo£d of tLUSttts. A¥e$$m•nt of Achl•v•m•nts The pLiw petformancc indicators AA pursuit oEthe Chariry'$ obiectivts ate the amount of don2tion$ tnadc to ChideS to give re]ief from poverty or suffering. The Cha£ity hAs donated £85,657 (2022.. £74,337) during the year. Grantlloan maklng pollcy 'lThe Charity invites ppJications Eor fi]nding of ptoiecrs from h05pity1s. ch#tities and App]icants are invited to submit a summary of their propossk in a specific fonnar. Th2 applications ttvicwed aga8¢ specific oytetia and research objecrivc5 which are set by the Inrees. Financial r•vl•w and Investmetht polley The Charity did not engage in any Eund taisAti%activiue5 duting tbe ytsr, its sol¢ income being receAved io the lom) of dividend ox Bift aid os identifLed on the StAtemenr of Finan(i21 Activitie8. The Chaoty h2$ made a txet gain of £TJ46 dutsng the year, bryg the rcscThcs to £116.957. R•r¥•S pollcy It j5 the policy of the Chariry to maintsill Uttre8trkcted nds, which are the free ttseLTes of th¢ Cb2tity. At a l¢vd whieh equates to pproxim8tdy twdye months, unrestricr¢d expendibjte. This proiryde$ sllfficicnt 6Jnds to covet and respond to emergency applitiOns for grAnt5/105. which atise from timc to tit Unce5tiiCted funds were maintained at this level throughout the ycar. Rlsk management The rn]stees have &Tgmirted the major strategi4 busAness and op¢rauoJul risks which the Charity faces confirtn that SyStern$ have beets esrbJished to enable £eguiar reporrs to be woduted so that rhe necessary steps can bc token to les$eA these Lisks. Tn4sleesl Respon5ibilltles Statement The tnteeS are reswjnsiblc for prepgsAn8 rhe Report of the rntstees and the fthancsal svatettnt8 in accordance app]ieable ]aw and regutionS. The Charities Acr 2011 requices the tStee$ to prepre fin2nci21 statemeftts for each financi21 yeat. The rrnsteeg have to pxcpar¢ the finAnciAI statements in accordonce with United Kd0M GetY Accepted Accounring Practice (Unitcd Ktngdotn Accounting St#ttdard5 applicable kw). including FRS 102 The Finanaol Reporllng Stgnd2rd apph"(xble An the UK And Repub]ic oEtreland. The tLUSt¢¢$ must not approve the finanoal ststernents unlcss they lte $ati$fied that they 8iv¢ a rnje E2ir view of th¢ $r3tt of aEfairs of the chatity and oEth¢ incoming tesources and application oFttsour¢fS. indllding the Ancome ond expcnditLwe, ofthe chariry for that perkod. tn prepating thcse f#£1) statun¢ftrs. the tru8tee8 att £equired to.. select suitoble Accounting policies and theo apply them ¢ottsisterttiyJ observe the methods and principles in the Ch111¢8 SORP IFRS IO¥,' make judgements 2nd accounting ¢$iimates that are xeAsoD*ble prudent: srat¢ whether applicable UK Accounting St2ndards have been followe(L Bubjeet to any rngieriql dewitures 'sclosed al expl?ined the f¢)] staternents.
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E prepatr the fin4ncl statements on the going conttrn basAs unkss it is inappropti to ptesume that thc charitywill continuc in opetstion. The twstees sre respon5&ble Eot keeping adequate accounting rccotd$ that atc sufficient to Showa( exp19in the chatiW¥ transactions atsd disclose with reasonable accuracy at ny time the financAal position of the cbariry And enable them ro ensure that the financial statements comply with the Clwities Acr 2011, the Charity (Accounts and Repo£ts) Re]#tiOnS 2008 ttd th¢ provisions of the trust dttd. They are also responsible for galeguatdiAg the osscts of the dLatr4ry 2nd hence for tgking re980llable Steps for the ptevenU(m and detecuon of fraud 2nd othetirre]1lti1ie. Golng conc•rn The twstees knv¢ a teasonabk expectation that the charity has adequate OeeS to continut operation9J existence Cor th¢ fottsee2ble ture. The charity hgs cottficmed that At has adequ9te cash ttsouttes for t leAst 12 months followingsiyJiAg of thcst Fthancial srAtetnenrs nd for this reoson thcycontinue to adopt the 18 concem basis in PXCPjn8 the fin2ncigJ staternents. Apptoved by the Tnutees on and signed oo their behalf br. J MCGilty Tte¢
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E O GrantThornton Independent examiner's report to the trustees of Swann-morton Foundation I report on the accounts olswann-hlorton Poundation (thc'charitrf) for the yeac cndcd 30 June 2023. Ivhich Are $et out on pages S to 10. Your arr¢ntsoA 15 dr2Vrn to the hct that the chariry's Tw5tees have prcp2red the charity's accounrs in occordancc with the Statement of Recottllnended PLXCtiC¢'Acwunrin8 ¥nd Reporting by Charities.. Sratemcnt of Recomtnended PrJctiee applicable to chtities ptep2ring their accounts in ccord2nee with the FinAncyai Reponiog Standard applicable An the UKattd Repub]ic of Irejand (FRS 102) (effective l Jau2 2019), issued in October 2019 in prefetence to the Sttemcnt oERecommdea Pr3¢tic¢'Accounting and Reporting by Charitics". SratemeTht of Recomffltnded Practice Ixevised 2(K>5)' issued in Apni 2005 which is referred to IA the Chatities (Accounrs and Reports) RetiOnS 2008 bur has bea) withdt2wn. l iillderstand that the. ch9f1< trt)%tee% hAve done this in order for the th1$ accounts to wve a ttue and f9ir view in accordance with United Kingdom Generally Acttpted Accountin8 Practice effective (or reporting period5 Fwning on or after ljanllary 2019. This report j5 rnade 50kly to the th1¢$ tNsttts. /s 2 1)ody, An accordgnee wAth the regutIonS made undet sectson 154 of the Charities Act 2011. My work has bccn underraken so that I might stste to the ttUStets those matters l am requiral to stste to them in an independeot ¢X2mineis reportand fot no other purpose. To the tullest extent persnitted by ]xw, I do rtot accept or assume ttspon5ibility to Anyone other thAn the chariry 2nd the chaciws trnsttts 05 a body. for mywod(. for this report, or for the opinions I h&Ye fr>m)ed. Respe1ve r¢spon&ibilitieB of trustee8 attd exmiAer The chariry's trnstres Are cespDnsible for the pryaration of the aceounts. The chgrirf8 tLI]$t¢es cottsider that on audit is oot required for this year undet section 144(¥ of the Cljarities Act 2011 and that An independent exatnination is needed. Itts oiy re5pofLsibihry to.. ¢xamine the accounts under $ertAon 145 of the Charirics Act 2011. fo]lov/ the wcedure5 laid down in the gener31 Dirccrion5 given by the Chatity Comnyssion under scctiort 145(5)(b> OF rhe Chaoties Act 2011.. And srate whether pariicu]¥r matters hve Coll to my attention. Basi8 of independent ex2mitiel8 6toiemeni My ex2mÉnation was carried out in accotdanc¢ with the wersl Ditections given by thc Charity CommtssAon. AA ex2mitJ&tion indude5 2 eofftpatison of the accounts with the aeeounring records kepr by the chatity. It also indudes cottside£ation of any unDsugTr irems disdosutes in the accounts. aod seeking explAnation$ ftom you as tteeS conceming any such maitcrs. The proceducc5 undertaken do nor provide all the evidence that would be required on udit and consequcnt]y no opinion is giyen to whether the acrountb P&¢nt a'irur and &xt' view )md th¢ POrt1 limited to those matters Set out in the ststeent below. IndependeLt examinet 8 Statement IA connection wAth my cxamination. no rnatttr has corne to my attention: which givcs me ftgsonabk c*use to be]ieve th9t 111 Any rnatu%al rcspect the requirenrnts: to keep aeeouniirtg reco£ds in accordance viith seetiots 130 of th¢ Chatities Act 2011. ro p£epare accounts which acco£d with the accountiogreeords,. and to comply with the app]icAble tequitements concerning th¢ forrn 2nd content of Acco)18 set out io the ClJ¥ritie5 (Accounts and Report51 Rfguiati(>ns 2008 haye rLOt been met,. or to which, in my opirtiort, attention should be dr2wll in order to cnable a pioptr undersranditjg of the 8ccount$ 10 be Ieathed. Christopher Bagnoll F Gran¢Thomton UK IIP Chartered Accountants Shcffield DAte.' 2311012023
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Swann-morton Pgundatlon Annuaj Rgpot and flnanclal 5tat•m•nts for th• y•av endèd 30 Jue 2023 Statement of financial activities Unrestricted Total ftsnd Funds Total funds 2022 Note 2023 Income Donarions and leggcie5 Interest Dividends Profit on dispos21 of investtnent Total income 925Q6 152 802 33 93.493 92,S06 IS2 85.000 33 93,493 85.004 ExpeDdiwre Donatiuns and gdrtynistratiye expenses Total exp¢nditure (86,147) (86,147) (86,147) (86,147) (74,825) (74,825> Ner movemeors An fi]nds 7,346 7a46 {10.179) Reconciliation of fulld 'I'olal Funds brought fottward ar l July 2022 Total funds carried foThva¢d #t 30 June 2023 109,611 116.957 109,611 116,957 99,432 109.611 The accompanylng ac¢ountlng pollcle¥ and note• form Integral part of th060 account$.
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Sw?nD.Mortèn Foundatlon Anvuol Rgpgrl and flnanclal 8tatements for th• y•a¥ •ndod 30 June 2023 Balance sheet Note 2023 2022 Fixed asse¢s lttvestjnents 99,000 99.0(Ml Curreni assets Cash *t bAnk and in h2[ J7)9i7 12.811 Creditor& Amounts.. falljng due TApAthth One year (221 Net current as8ei8 17,9)7 10,611 Net assets 116,957 109.611 The funds of the Charity., Unre8tricied Unre8r£icted income li 116,957 109.611 Total Chfirtty hnds 116,9S7 109.611 The Accounr5 were approved by the Board on d signed on its behalf bT- I J McGinley Ttee
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Swann.Morto Foundatlon Anttual Rèptrrt and financlal 8tat•m•nts for th• y•ar •ttd•d 30 Jun• 2023 Notes to the financial statements Charlty IntornlIoN Swann fvtorton Ft>undatiotxis * Chatity (Charity number 2715). The giS[cred office 18 Penn Works. Owkrton Gre. Shcffield, S6 2BJ. Prfnclpal a¢countlng pollcl•s Ba$18 of ptepatAtio The financi21 sratements have bceD prepared in accord¥oce wAth Stgteo%Trt of ReCOrnmded PÉactite.' (Accouftting and Reporting by Ch2titits) prep9£ing tbeir accounts in acwrdance wxth the Finnci9J Reporting Standatd AppJic4ble in thc UK?nd Repub]ir ollre]aIid (FRS IO¥, the Finaftiial Reportin8 Stsndard applicable iti the UK aTrd Rcpub]ic of IFRS 102) #nd ChAtitse5 Act 2011. Sw£nn fvlotton Fouodation rneers the defioiuon of a Public Benefit Enuty under fRS 102. Assets and Jibiiities 9tt initially recognised at histOriC91 cosr or transaction va]ue unless othetwise stared in thc ttlevant aceoullting policy ootes. The princip¥] accounting po]icAes of the Chatity remained unchanged from the previous and Ct out below. The financial sr•rements Are ptesettted in Srexbng U). 22 Going concern The ttustee5 have a teAsonable expectation that the chariry has adequatr tesourte5 to coniitsue in operauon2J e]ust¢nce for the foreseeable fuNre. The charsty bA$ confjmwd that it hau adequ£te C25h iesources for ai least 12 months follo7vi si8Nng 0[th finnci21 ststements #ttd for thi'$ iea30n they conttou¢ ro adopt the goArtg concem basis in prepattng the financil $tsterneArs. Fuod *¢eowitillgpoJtLy Unrcstiicted income fi]lld5 are genetal fllnds that are &Fad#ble for usc at the trustees, discreuon An 6Jrtherdnce of the objcctivcs of the Charity as disdosedin note 3. Income aod lerdcie8 Donations tccowsed whtte is entitiernent, certainty of xeceiptatkd the amount can be me8sut¢d with sufficient rejiabiiity. 15 Expenditur¢ Iiabilities ate recogniscd as Soon 0$ thexe ts a Iwl or COIL$trncuve obligation conjmitting th¢ Chattty to the ¢xpeAditure. All expenditltre is acwunted for on an accruak basi5 aod has been dassAfied utmler headll that a8greg2te 9ll costs rdared to the category. Co8ts of gtttcrating funds ate the costs ossocfftated with attract%ng voluoiary incorne. I0ve8tTnfy The investmentin shates of W. R. SwanTh & Co Iimited is held #t cost bt¢2use the twstees of Smt Morton Foundation do tt believe a rejiable of current f9itvalue con k madc. 17 OpeThtitig lea8e8 Rentsis payable under opelIng leases ate Ch in the statement of fan¢191 acLiviries on A &trgi8ht litt basts over the lease ietllL 18 Basts of consolxdaiioo The investmentAn shares of W.L Swann & Co Iitnited hos ttot been consojidatrd. and is accounted for as a simple investment. Despite the 50D/o shareholding, the trnstees do not exercise significantAtthuence over the tIng fmanciai po]icy of the company. which 15 independently monHged by 2 5cparate of directors. Thete ts 00 a¢Live AThvolvemcnt ot influence iti po]iLy decision5 of rhc company. which tun o
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Swann.Morton Foundatlo Annu41 Report and Ilnanclal stat•m•nt$ lor th• year endod 30 Jyn 2023 Notes to the financial statements Income Unresttxthd Total Fuods Tot2J Funds Fund8 Donat%ons Interest on c28h deposits Dividffids P£ofit on dispos¥i of xnve51rntnt 1506 152 85.0(M) IS2 33 93.493 33 93,493 85,004 Total expendltsr• DontiOll8 Totsl 2011 Totg12022 DAtert Costs Bluebell Wood Chilthn's Hospice Burton Street foundauon CBA ptoiects Sheffidd Children's Hospi SNdcnt Grgftts %a Elcctives St Luke's Hospice Untyecsity oESheEfield SCI01 of Medicine Whitlow FArm Trust Family work8 at St Johns Arnbulat)ce Other Donauons BAnk chays 6,OOD 6,000 3.500 6,407 ,onn 6,000 7272 8,483 3,500 6,407 23.)0 6,(XJO 13.5QO 5.374 iO(M) i.O(K> 5,000 29.750 490 86,147 29.750 27.7 488 74.825 85.657 Employo0S The had 3 tDJstees durin8 the year (2022.. 3). There were no other en]p1uy5. Trust••s' remuneration •nd •xpens•* No ttr¢s rec¢iYed any remuneration expenses dutirtg the yw.
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Sv•ann-Morton F•undatlon Annual R?port flnancial staleM•nts for th• ygar •mdèd 30 June 2023 Notes to the financial statements Investments h•ld as fixed ass•ts Unlisted inve8mieDts Cogi As 4t l July 2022 And 30 June 2023 99,000 Net book Yalue As at 30 June 2022 and ¥s At 30 June 2023 99,000 All inv¢$rmeAt a58ets ivere held in the UK. The Ch20ry holds more 2/ oFthe share capital of the Following eomp2Ay.' kn8oeia¢ed holditigs Country of iticoxpDratioo Principal activity C1#88 Period eod W.R. Swann & Co Litnited Unjted Kingdom Holding company (the priniipAi activiry of the group 1$ the manuEactuce tjd of fkne edge blAdes) Ordinary 50 30 Sepremher 2022 Associated holdits Capiial & tegerye8 Ptofit for the period W.R. Swann & Co tAtllit¢d United Kingdorn 41.584,891 1692.645 The above Capiral & Reserves ind Profits Eor the period Anclude the atnount attsAkntsble to both the owrters olthe pattnr company xnd the non Lontto]l¢'ng interesr. Cr•dltor8: amounts falllng du• wilhln on• year 20 2022 Accrued donauons 2.200 N•t ass•ts by lund UArestsicted Toial Funds Total Funds Furtds 2023 2022 InYestmeA Current a$sets Cutrenr liabthties 99,0(N) 17,957 99.000 17,957 99.000 11811 2,200) 109,611 Net asset5 116,957 116,9S7
Docusign En¥ÈlopÈ ID." 07CCDE99-90C4483D-85D5-A964A988281E Swann-morton Foundatlon Annual Report and financlal statements lor the year 8ndod 30 June 2023 Notes to the financial statements 10 Related parties Controlllng •ntity The ChArity is eontrolled by the trustees. R•lat•d party transactlom Duting the yeat Gift Aid donations o1£90,IXJO121Y22'. £85.(KK)) vxre ttccived from SwaThn-Morton limited, a wholly owned subsidi94 of W.IL SwAnn & Co Iimited. W.R. Stvann & Co limited is joitidy owned by the W.IL swat Employtts Benefit &hcmc and rhe Siv2nn-hIorton FDundauo Ia turn theW.R. Swann Employees Benefit sChee 18 controlled by the W R and D ThoLP Setricmeot w W.R. Sw2nn & Co Trustees lamitrf which acts as the tStee. The directors ofw.L & Co Twstces timited, which is JEmi"ted by yardnte4 are M J McGiniey. G Thtsrnpsort and J Gilmour. The CharlS accountts costs are met by Swano.MwroA Idmited. The Twstees, Annu9J Report and accounts gxe to be 5ubmitt¢d to the Charity Conjmtssioa. Analysis of funds At 30 Jiine 2023 At l July 20?? Tncome EKpen(biure Untestricted genetal Eut 109.611 93,493 (86,147) IIC>,957