Chwmy r•gl•trth number 290397 {Engl•nd and Wal•*) Company w•￿*￿•11¢n nun•J•r 018483S7 THE SWANAGE PIER TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 arrisons chartered accountants 4 Brathloy Close BH23 6SE THE SWANAGE PIER TRUST LEGAL AND ADMINISTRATIVE INFORMATION MrWJ Law M$RLMack MSA J Peitiit Mr H S Potler MrGMSu¢ Ms A Tum8r Msskns (Appointed 7 June 20241 (Appointed 7 20251 {Appoint8d 7 M¥¢h 2025 {Appointed 7 M¥th 20251 IASCFY Chadty numbar {Ewland and W￿1 2SIJ397 Compary numb•r 01848357 R•glst•r•d ¢*nc• High Street SW￿ge BH19 2AP Ind•p•nd•nt •xamln•r 4 Ch)s¢ Chrisldwrth Dorsgt BHTJ 6SE THE SWANAGE PIER TRUST CONTENTS TnJste8s' report Irwjepersdwl ex￿￿￿￿$ rewt Slatomont olfmancaal actvAbos Bal￿ sheel Noles lo the ffinanckl sla1*y￿ts 7-17 THE SWANAGE PIER TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AIARCH 2025 Thg Iru$t8as pr8senl thoirannual retM)rt and fAwial statwfwnts lor yo¥ ended 31 Marth 2025. The ffin8nci•l stslements h8ve t*en prep¥ed in accrfydan￿ the acC￿nting poliues set out in r#)t8 1 to tha financial Statements aThY ttlmply ￿ the charity's govemry docurnent. the Cc¥npanies Acl 2006 and 'Ac¢ounting and Reporting by Charities.. Statwwt of Rec4Jmmended Pract￿£ appthca￿e to charities preparn)g thèir a¢¢ount$ in aC￿rdance with the FinwKial Reporb'ng Stsndard apFdicth in the UK and Republic of Ireland IFRS 102}. (effective 1 January 2019). ObJ•¢tlv•$ and aetSvlil The Charivs objects and prwicyal activitss contr￿￿ to b• ralslNJ ftThJs and wovkling for Ihe perrn8nent PMS8rvation and mana9emènt ol the Swanagè p￿ ILY th• bènèfit ol public. Cm 1st Soptember 1994 the Charity was granted a seven year lease ¥bknwgby it t(y)k over thg day to day op9rat￿n of Ihg pier from its subsidiary undertaklng, ￿ Swanage Compaw. A lurthgr l&ase und&r Ihe Hartxwrs Ad 1964 w35 granted by the Swat)age Pler ConN)any f(K three years. Undw tho18ase. Itw ao ob1igatiry￿ whereby the Charity vril manage the pier 8nd r8is8 funds th• pu￿0￿6 of restoring arKI prewmng the per. Two IwiheT 21 year leases have now been grantèd, éndmig in Junè 2046. Public bar￿}ft The Twslee$ havè given due rtyarrj io public ￿rtt when planryry Ihe i*ariVs a(aNTlies. in accordanco wth the Charity C¢mmis$itin'$ Guidanc¢ ￿ Publ¢ Benefjl. Actiwti8s The Trustees. Repcwt sels ow aLINities, ach￿rfefflents and perfCff￿c4 durhg thg yoar. vthich we diredly related to the objects and purposes for vthlch the charity exists. Tho charlty achieves ts prirK¥)al objects and purpues through maintaining the Pier in order that it may be OP￿ as often as possible durlng daylight hou￿ lor members of th8 PUtAic to visit. lor anglws. for divirg ent8rw"s8s ￿duding train*￿, for plègsurè and lèisure 8¢twtbes Ihrough boating and other wat8rsports. This indudos a wsonal fwy soNi¢e kn 8oumtrmouth and Poole. These benefits are dI￿¢￿Y rn1*gd to Ihe aim$ of t1￿ dwrity aNI •9 luty cornplrwt wlh ts Charsty Commission Principles publ￿ Bgnefft. The Charity had use of the pier under a lease wted by The Swanage Pier Cirfnwy. in whlth lh$ Charity has a controlling Inte￿1. This was reFdaced on 30 April 2CK11 by a three-year kne of the pier undèr thè 1W Hart)ours Acl. This was subsequ￿ty feFAaced by a 21.year lease, wrth a lurih•r 21.year leasè now In pla￿ to 2046. Th? pier is recorded in the 8alanrn Sheet ot hi5torK cost le55 awJffwlated depreciat*Jn. The Directors have not revalued the pier as the Company is prohibited disposry of it under an Acl of Parfiam8nt. Routine mainlenance expenditure is vffitten off as wKurr&d. whle s*JnifKanl restoration costs aro ¢apitali$gd 35 pier improvement5 and deprecAaled over the term of the lease. Achl•v•m•nts and ￿rtOrn￿nc• Significant actNit￿S and acthev&ments against A programme of Pier education. e¥ents thgitd mwkelirwJ 15 (rfwAng WKI has prov•J to ￿ extrom•ly popular for visitorn and re￿dents ￿ike. Durfng the accoun￿r￿￿ year the ￿ con￿1(￿ was taken over by oparath. f¢ o)ntinues lo pw1￿M wel. Follomng tho radio ststion's ¢b$ur8. the trust rek)¢atsd its office to ts former studio, releasing the original spa¢0 for sublètbro. A grant-fundtd part-timè Assistant P*miAst•r rKJSt wilh a lo¢u$ on n*ntsl health and wellbeing, was troduced as a pilot projed supporting vc4unleer5 daAy opera11￿8. Tho evonts Fffogramm8 continues to grow. enhancing public wgagement and conlritrwting to fwthai5iro effcrts. No major repays or piling wefe s(￿ed￿ during this yw htr￿. tha u$u¥ prcgrarrwn? of genoral mainienance and repairs was maintained. wth a iotal cost of £52.￿0. In &SJlth)n. r8palrs werg canied ￿41 on QT ofthe piles of th6 pier and to ihe ¢c￿￿te section wi the watersports ￿. A finane• sub.9roup. th• Extcutivo Ctynmi¢tae. met re￿¥￿Y Ilwoufvl the year, oveTseeing expendiiure and looking al ways of maxvni5ing NKcrfne. THE SWANAGE PIER TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 Fln•n¢l•l Res&rves p￿ICY The Trustee5 carried a rovitr• of tr* ¢Ws aLthlt*s and cA)nSM￿ Ihat an unr8strict•J luNJ balanco of £150.(M)O is requred to enable the Trust lo be thlè to m•nlain th• Plw as [￿ired by Ihe leaso. Al the year ond freo unroslrfcted fuThJs of £172.321 12024: £153.5131 wero hdd. Plan* for lutur• porlo Ongoing Pier malntgnance rest￿akn remains a fr)r Ihe dwity. In prnp¥alti)n knr th• n•xt Tour￿ cl major works, 3 full 5 year suw Is du* to bo canknd out in 2025 and a fundraising strategy IB beiw¥J d￿?10p8d vknkh V•il inc*Jde • range ol aww¢ness, m•*8ting incJTh g•wab"r4J xknvitm to trA*)st the reserve. R8StcKation plans arn ￿ plac* lor approach to Vthian Pv after its 5b year. thg museum InlerFf8tation spaea and Pior loaming matorias b8 r8vi8w8d lo ensure meet the nBed oryage wAth v1$rt￿$. The Swanage Pier Twust * a rth3iSt8rèd charty {r￿. 2m7) Y￿lIF#>falod under the C¢yanies Act 2006 {no. 018483571 and its winopal address and wislered offi¢0 is at Mllas in Swanage. The charity governed by its Memorandum and Al￿deS of Assc•iatKJn inco￿￿816d 14th S¥ptw)tsr 1984 as amended by specsal rgsolution$ dated > Fgbruary 1994. 17th Februwy 1995 &KI 18th 1996 8$ aM￿dad 21* Jun• 2001 and new Arlicl&s ofAssooalknn athspt8d 23rf Marth 2018 as amended by r•soluknon V Novéffthr 2021. The tNstees. who are al80 tho fty lh¢ of law. durwwJ the year and ￿ to tha dats of signatwe of tth8 fwwlaal statements V4We: MrWJ Law MsRLMack MS A J Pettitt Mr H S Pottor MrG M Sutllo MSA Twner MS S Aflam8 Mr K C(K)mbs Ms C Fln¢h IA4yo**d 7 Jurn 2tr24) (AFvoinled 7 Marth 2025) Ihwointed 7 March 2tr25) Trusts08 ¥0 nominatad by th*r r£pr￿￿t￿O Org￿lSationS WK*wJing the c￿nty Cour￿1$, groups wllh partiojlar marino intsre81 arMJ the Fnwlds of Sww Pw. 0ry8nisalK*nal slnKtw8 Th8 Tnjstees meet regul*ly to 0¥or￿ ¢ho akns ot1aeb￿$. TN5t gmFloys a Chlef Exwjtive Officer. a part-￿m& FinancKal and Operaticffls Manager. a SeniDr Piwmaslgr a Vdunt8er and ActwitS8S R•l8lionslHP relatodpa The F￿n￿8 of Swan￿8 Pier rr*mbwshty subsuptr(Th donati￿ conlinued to surwrt thB Pier. Th• m8mb8rship stheme has n¢yw fuly intégratèd Aitt) tho Tntyt Manager￿nt THE SWANAGE PIER TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trust8es' r•pcfft was approv8d by the PA)ard of Trustees. M$RLMack Tru$l•• 5 DeC￿T 2025 THE SWANAGE PIER TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SWANAGE PIER TRUST I report lo the trustees on my examinat￿ of thè ￿￿jaI stalements of The Swanage Pigr Trust Ilhe d)arity) for the year ende(131 March 2025. Responsibilllle¥ and basls of report As the liustees of the tharity (and its ¢Jredors wxp)ses of txthpany law). you are responsible for the preparation of the finwcial statements the rerymremerts of the compan￿ A¢t 2C<6. Hawng satisfied mys811 Ihal the fmawal slalements of the cknwty are rnt requyed lo be audited under Part 16 of Ihe Companies Act 20C6 and are ￿￿ible fof mdeperNlent examnalicffl. I teport in resped of my examination of the charity's financial slalements carr*d oul Lmder Sect*￿ 145 oflhe CharitiesAct 2011. In Ca￿￿Trg out my examina￿.On I have folowe¢l the Ow8dions by the Charity ComThi55￿ mdor 145(51(bl oflha Chaities Acl 2011. IDdepÈnd•nt •x•mlnerf¥ stat•mont Slice the ch*ity's gross income exceeded £250.(XX). the Thjependenl exaThnèr must be a member of a body listed in Secti￿ 145 of the Charities Act 2011. 1 conftm Ihal I qualrf*d to uThlertake Ihe examinaliort beeajse l am a member ol the Inslilth8 of Chwtered in En*nd and Waès. which 15 of the listed tJodie& I have compknj my exanwnatKffl. I cthfimi thal no rnattets to my attention in connection witti the examinalion gNing me cause to believe that wh any material ￿Sp￿*.. accnuntin9 re￿r￿S were not kept in respecl of the Cha￿ as required by section 386 ￿ the Companies Act the ffinanaal stslements do not accord vnlh those le￿dS.. the financial sl*¢ments do not (¥Jmt* with th• accountr"NJ reqUirem￿ts ol se(Ik)n 396 of the COMP￿leS Act 2006 other Ihall any reqillrement Ihat the fin*cial slatements gi%* a true and fair view, which bs not a matter cons*Jered as part of a) *)dependent ex3minth"on". or Ihe financial siatemenls havg nol been prep¥ed in acc￿rd#￿t£ ￿ the melhcrtts and princ¥>le5 01 thg Slalement of Recommen¢Jed Prac￿Ce for arJJ)unting aKI reporting by charilbes appli¢aN8 to charib'e5 preparing their finanaal statements in a￿(￿￿nCe wlh the Fw)anoal Reporting Stsndard applicable in the UK and Republic of IrÈland IFRS 1021. I have no conc*ms and have (yTh ￿ro$S ￿ olher maltérs in connec*ion wilh the exarronat￿ to which attenl*Jn should be dravm in this reF•Nt in order to w)atAe a WOper￿￿1￿￿WJln9 oflhe fA)3nci* statemenls lo be reached. H•Thlson8 4 Brackley Close Bournernouth Inlemalh)nal AirF#Xt Chri$tthr¢h Dorset BH23 8SE 5 December 2025 THE SWANAGE PIER TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AIARCH 2025 Totsl Unr•strlcl•d R••trlctsd funds 2024 Totsl fvnds 2025 lunds 2025 2025 2024 2D24 Incom• and •ndowmonts frtyn: Donalitins and Charitabte activliies Oth8r tradiThJ actiyilie5 Investments Other incorne 37,388 310.6&3 83.817 22.722 44.8TI 310.633 83.817 22.722 32.730 313.783 78.428 8.801 2.914 20.000 52.730 313.783 78.428 8.801 2,914 Total Inc¢m• 454.560 7.489 462.049 436,656 20.000 456.656 Exp•ndttur• on.. Raisin9 funds Ch8rit8ble 8ctivltie$ Other expendituro 12.869 447.611 12,669 455,100 3.695 9.729 434.898 31 54.491 9.760 489.389 7.489 14 Total oxp•ndlture 463,975 471,464 444,627 54.522 499.149 •xpondllur• (9.415} {9,415) {7.9711 134.5221 {42.493) Transfers be￿e￿n funds 11.1761 1.176 N•t mov•m•nt In funds 11 19.415) 19,4151 {9.1471 {33.3461 (42.4931 R•¢on¢lll>tlon of funds: Fund balan￿$ at 1 April 2024 2.329.866 2.329.866 2.339.013 33.346 2.372.359 Fund balance* at 31 March 2025 2.320.451 2.320.451 2.329.866 2,329.866 The slat8menl of finan(4al actFiitw *Kludes al gains and h)sses rec(*3nised in the year. AM ncome and *xponditurg derive from contiwing act1w￿. THE SWANAGE PIER TRUST BALANCE SHEET ASAT31 MARCH 2025 2024 TaNJlble assgts Investmgnts 1,6￿.984 1,775.994 17 1,690.985 1.775.995 Cuvv•nt 4s••1s stocks 18 7,ST7 9,057 35,094 550.803 Cash at bank and In hand 625.750 594.954 Credll¢n: ¥Anounts tsllln9 du• iyllhln on• y•w 131.169) (33.083) N•t cuTh•nl 631.466 561,871 T¢)t*l •M•t• l•M ¢urr•nt l￿bIllI1•¥ 2,322,451 2.337.866 Crndltorn: amoynts f•lllng du• •ft•r morg than ono y•4r {2,IMX)I i&oooi N•t ass•ls 2.320.451 2.329.866 Tho fvnd$ ofth• ¢h¥lty Unrèslrictad funds 2.320.451 2.329,866 2.320.451 2.329.866 The company is èntitled to the exomption fr¢*n Il* thjdil i) soction 477 ofthe ComparMesAG* 2trfJ6. forthe year eThJed 31 March 2025. Th• directors acknavAadg• r•stx)nsblib•s for with th• raw1rwf￿ of tha Compani•s Act 2006 wllh rosp¢¢t 10 4¢¢0un1ing rwyds wep¥attsi offMwKig1 slatoffwts. The mgmb8rs havg Thjt rnquirod th8 CWY toobtaw) ol its fuwKaal ststgnwls for lh8 yw in quoslon In aC￿l￿an￿ wlth section 476. Thosè rmanc1￿ Statemènts hava been pr*p*ed in ac£mJ•n￿ wilh tho K¥ovisi(Th aKIKable to thnpani6¥ 8utii8ct lo the smal comwies regwne. Th• fin￿d81 Stat•m￿ts warn aFyoY•d by ts tmst•ts on S D•fAm￿ 202S MsRLMa¢k TruBt•• Comp8ny reglstratlon n￿)btr 018483¥1 (EYwJthl and W*) THE SWANAGE PIER TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2025 Accountlnq pollcles CPAvlty Inform The Swanage Pier Trust 15 a registered tharty. reg￿traI￿￿ number 290397. ￿ryanY number 1848357. regislered in the United Kingdom. The reg￿ter￿1 off1ce Is w￿las, H￿h StreeL Swanage. DLwsel, BH19 1.1 A¢¢ountlng eonv•ntlon Th8 finanual statemenls have been PTepare(l in aCC¢Xd￿ Ch￿￿S goveming d0￿Men1. the Companies Act 2006. FRS 102 Tr Finan￿￿ Reporting Slandard wlicable in the UK and Republic ot Ireland" I"FRS 102.1 and the Charities SORP "Accountry and Reporting by Charities.. Statement ol Recommended Practice appliCa￿e to chantW Pfepar4vJ th6.'r accounts ￿ accordance with ihe Financial Rwrtlng Standard applica￿• in th• UK and Reput￿￿ ol Ireland {FRS 102r lelfectiv• 1 January 20191. T th￿ty1$ a P￿11¢ B•n¢fil Entity ¥$ d￿fin￿ by FRS 102. The charity has taken advanlage of tho SCMiP fcr c*w"lies not lo prepare J Slatomenl of Cash Flows. The fmancAal statements are prepared ￿ sterfing. the f￿clA￿￿1 cuThency of the charity. Monetsry amounts in these financial statements We rounded to the n&vest £. The ffinanusl slatem•nts l>e•n pworgd ￿)der tho histon¢al o)st wnv¥nb"crt. Thg priTrKipal acc￿ntIng policies adopted are set out below. 1.2 Golng eoneem At ¢he time of aFpro¥lr•J Ihe fin8no81 slatonwnts. I￿ tru$l¢¢s h•vo ¥ ro•sc*wblè t￿￿￿tIon th81 the ch￿ty has adequate resources to cothue n operat￿al extStence for the foreseeabkn futuro. Thus the Irus1995 continue to adopt the going concern basis of a¢xounl'rKJ in prepaiin9 the financkil slalernenls. 1.3 Charltabl• funds lthresiri¢ted funds we av8ilAbl8 for us• at th• disLY•tion of tha Irust•ts In furth•r8nce of Ih•lr Ch8(rt￿l* objediw. Reslricted fijnds 8rè to sp•afic conditions by dOI￿Ns Of uyantors as to how may b• used. Th• purF￿•s and uses olthe rnstridad funds ara set c¥rt li to ts financial statamants. Endowmant ftmds ar8 subiecl to specifK cOnthti￿￿ by that ihe Caprt￿ must b8 maintained by th8 charity. 1.4 Incom• l incoming fesources are induded the statemenls of fin•nTh81 #ctMiE5 Ibthen the charity is enlived to the Income ￿ the arnount ￿ be qU￿t￿le￿ with reaSC￿8b1e ￿¢Ur8cy. Voluntary incc*ne and donations are racognised vthen receivable ty tharity. The inccrfne fiJrnFraising Wen￿￿S is shov•f gross, with th8 associated costs includ8d ￿ lund-raisry costs. Pier renl and tthys we reCo￿ls•d in th8 period when th8 Servi￿ 1$ provthd. Grants are r8cogThs8d vthen the charity has ￿ enlillenxnt to the funds any conditions linked to th8 Qfants have been mèt. Whwè unconditKJnal 8ntlllement has baon m8t but fLmds hava nol y8t baen receiv8d, the balance is re¢ogni$eil a$ acryugd in¢thN. WF*rè pgrformanca ¢(￿dit￿)n$ are atta¢h9d to th¥ granl and e yel to be mst, Ihe inwn$ is r￿gniSed as a Wllity and IK￿ded on Ihe balan¢¥ sheet as deferrgd incwne lo be reloased. Gtsvwnmont ￿anIS rècaNatA• as eompensatlon for gxp&nse$ alffjady Incurrèd wim bè reci*Jni5od in Ihe proffit 8nd I￿ samè ￿rItid in fèlat8d èxp￿80 ts incurr•d. THE SWANAGE PIER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENOED 31 MARCH 2025 Accountlng polld•s IConllnu•d) 1.$ Exp•ndlturn Ewthture is recognis&J once thwe is a c(￿sIn￿o ￿li90t1)n to tr￿Sler e¢ononlc bonofrt to thtrd paty. It is probable that a transffjr of gc4)nrt WIU bg rewwed In soluerrwl. and tho aM￿j￿1 of tha ob11gatk￿ can bo ff*asured r¢li*Ay. E￿nt￿turn LA by actr￿ty. Thè c4Jsts of mwje up of the tcrtal of (knct CAists and Shared costs. induding support o)sts ￿￿10rtakfflg each a￿l￿ty. Direct o)sts attribLbtsbl• to a sknglg activty ara allocat8d thr8cty to that **vity. Sh¥ed Lxjsts contr*ut• to mor• than on• athty and $upport rnsts arg rn)t attributabl0 to a actmty ¥0 oPPOrtion8d thD5e ￿Mti95 on a ba81S (x)nsi$lgnt tho uso of resourt¢s. staff costs •re allocated ￿ th? ba￿¥ of time spenL and dopreckgtion ¢haryès we alocated on the ofthe assefs 1.6 Tanglbl• Ilx•d Tangl￿& fixad assats ar• #illlalty mèasLnd at c£4t ahyj wbs¢(wty Yr*a8urnd 8t cost or valu8t#)n, nel of d￿atron 8nd •rw lym￿t kA88& Dopr•L?ath1n L8 raeogni£•d $0 as to off thè rAlSt ty vdu•kn of 8s881$18ss theT r08wJual values over thelr usoful Iwas on tho lo&Mng bos08: Marim Vlllas Pier improvgments Fixtures and ffttir 25 year¥ str￿t I tho 1gffn of tr*1oaso Thè or hJss arising on the disW Of￿ asset is do1￿m￿ as tha drft6ren￿ between th& sal& pro¢*Js and tha caffying valu• of th• asseL and is rel￿￿ed statem8nt of￿anCIal ac￿￿￿•s. 1.7 Flx•d asut Inv•slm•nts Fixed asset i)vethents are inrtialy measw&J al price exduding transacthin costs. and ar $ubsequenily Th*asur&J at fair v*Je at rei*m dats. ch￿ in fair vakn ara r8cognwd in ngt iTh))m8lleyThJiture) for the year. o)sls are eX[￿d as incurr&J. A s￿)SIdIary is ￿ ￿rtY c(ffitrolled by Ihe ckn•iiy. Curtrol is Ihe to g)¥gm ts finandal awj opgrating pol￿￿eS ofthe ￿tity so as to oblan b￿le￿IS from Is arthitkns 1A Impalrnwnt of f￿•d ••••ts At eath reFKYting end dat8. th8 charity re¥￿ th8 (aryying of ils tangible assats to det6rmin• ether there k8 any that those assots suff8red an ifflpaimw￿ loss. If any such indicalon exists, tha rocov8rablo aTr)unt of ts assgt is In (Ydgr k) dgtemiino lh• gxtsnt of th¥ irrpalm)enl ktss (rf any}. 1.9 Slo¢ks Stocks are stated at tho h)wer of cost and not rnaisaNo aft•r makkng 81hy￿e0 ky obs(Aots slow mo￿ng stocks. Not raallsabl8 valu• Is th8 estknatthl seknJ wke *$ all 8tslyna￿ ¢osts of and Costs lo be kncurrad In markalng, $￿Ing #nd &Stn￿￿. 1.10 Ca•h •nd cuh •qulv•l•nts C8$h and cash ¢quNalents Ind￿ cash held at call wth banks, other short-lerm liquhl iive$(ments WTlh or131n￿ matunties of throe or Jess. and bank overdrafts. Bank overdrafts are $hown within boThowings in ojrrent liabilities. THE SWANAGE PIER TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounllng pollcl {Contlnu•d} 1.11 Flnanclal Inslrwn•nts Finanryal liabllkn•s and equity instruments are dassifred afx¢yding to the substance of the contractual p4rangemenls entsr¢d bnto. An equity instrument 15 contr8¢t that èwdences a residual interest li the assets of Ihe enuty after dgdu¢b"ng all of its fThnaal liabdilie& 1.12 R•drom•nt b•n•fft* paYn￿nts to dor￿ed CMtr1buti￿ ratirnm9nt bengfft sd￿m￿ are dwged as an expènsè as th•y fall d￿. 1.13 Con¢•sslonary loans Concessionary loans ￿cludtt thosa ree•Nabl• thwd vthich are into￿$( free or below market int8rest rates and are made to advarw charilatlo purt*)ses. Al h)ans are measured at ujst. lèss knpatment as pbmiitt•d by section 34 of FRS 102. Crldcal a￿￿UntIng •$tlmat•s andJudg¢rnnl• In the application of the ch8rity's ac(x)unt*ig ￿liG8s, Iho trustees are required lo mak& judg￿ents, esbmatss and assumptions ab¢xrt Ihe eArrying #M￿nt of assels ￿bi￿lieS Ihat are not readity apparent from other goure£s. The eslimates and as8OQOted asswwytwi$ are based cffl h1slc*ical expenence and olh8r factc￿ thal canY, a C￿￿panY re￿$ter4d in En¥and and Wal&s. 18 Stock* 2025 2024 Gocals for resth 7577 9.057 19 D•btovs 2025 2024 Amoun18 f•lllng du• wlthln on• yw. Trad• dobtors Oiher debtors PrePa￿entS and acaued inccth• 7.708 5.830 3.252 26.012 14.711 35.094 20 L04n• and ov•rqtr4fts 2025 2024 k loans 8.1)00 14.OiKI Payable wHhSn year Payable after one year 6.orKI 8,000 14- THE SWANAGE PIER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Cr•dltors: amounts falllDq due T*Athlffi on• y•ar 2025 2024 Bank loan5 Othèr taxatKJn and soaal securfty Trade creditors Olher credth AccnJ81s and defefrgd 6.ryjo 2,280 4.1)03 4.703 5.000 15.466 15.800 31,169 33.083 22 Cr•dltors'. amounts falllng due after than on• year 2025 2Q24 Not•s Bank loans 8.000 23 Rètlr•mènt b￿•fit sch•m 2025 2024 D•fin•d contrlbutlon schem•$ Char98 to proffit or loss in re¥od of defm&J contri￿ sc**Ms 335 794 Th• charity op8rat8s a defined con1r*￿￿ perts￿ stheme lty all Qualifying ¥ryloy•e$. The assets of the scheme avg hgld separ8t•ly from those of ihe chty in an ￿l¥l￿ntlY adrwistered f￿d. 24 R•strlct•d fund• The reslricted lunds of thè tharity caMpr1￿ tha unexpgThJod balances of thjnations and grants hekl CA) trust subject to specific condif￿5 by dowvs as 19 how tw may b9 us8d. At 1 Aprfl omlpg Tran8l•rs Al 31 March 2024 r•%wrces •xpwd•d 2025 Mental Wollbomw Sw 17,489) Prevlous w. At 1 Aprll Incoming Resowcos Tran$feYs At 31 March 2024 Radio Projeca {54.522) 1,176 Mental Wellb•NJ Selv￿s.. A r•strbCtad for the puw of ￿￿Itc￿rId the mental health arwj wellbging of staff and vi￿t￿3. 15. THE SWANAGE PIER TRUST NOTES TO THE FINANCIAL STATEMENTS {CONnNUED) FOR THE YEAR ENDED 31 MARCH 2025 25 UnY•*trl¢l•d funds not subj'ect to Spear￿ condibons by donoT5 and g￿ttr5 89 to h¢YW thèy may be v￿d. Thaso indudè oslgnatad funds whlch have been set asmle out of uMestric*d funds by the tnJstees for specific purw8•8. At 1 Awll Ineomlng R•sourcM Tr•n•hrn At 31 March 2024 rn•ourr •xp•nd•d 2025 Pler WryJro¥ern￿lS and Marine as 1.766.353 {88.2231 1.678.130 440.￿0 30.WO 172,321 Ma1￿ r9n¢￿kn fur¥J Maintenance fund General .fy)o 21.990 (111.99)) 60.000 153,513 {51.￿ 1323.762) 454.$60 2.329￿6 454. {463,975) 2.320.4S1 Prnvlou• y•ar. At1 Awll Incornlrvj R•S0ur￿ Tr*nthrn At 31 March 2023 rn•ouffM •xp•nd•d 2024 Pler iMFffo￿￿nts and Marw Villas Major renovatw fiJnd Mainlenanco fund G8n8ra fu￿ 1.850,881 250.￿0 75.L 163,132 {84.528) 1.768.353 350.000 60,000 153,513 100.0 115.orJ)I 188,1761 436,656 (360.099) 2.339.013 {444.827) 11,1761 2.329,866 Thg Mapy rgnovauon ftmd rdates to that have awayfor the nèxt sel crf malty rwh)vatlon8. The Maintan￿¢• fund relat0$ to varfous *tvks requw•J ropaKs to mwino vilas. Tooffing works, i(Mlel blts* worts and plo $106¥88. Unda¥nod debenluro interost (due to hohjws (wtside Sww Piw Group) has bggn amgd In lh* nancral stalemants of tho Swanage Pier Ccfflparry lo lh8 swn 01 £19,67212024: £19,569). In ￿nI of dawns for inlorgsl these may ￿tIrna{￿Y t* b)me by the sWana￿ Pièr TntsL 16. THE SWANAGE PIER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 27 Op•ratlng l•ase conwnStm•nts Lo$8 Ai th• report￿9 end date the ¢harity had OUtstand￿g ccrfn￿￿ts for futur8 mlnimum lèase payments under non.cancellatrAe operating leases. whth fau due as folows: 2025 2024 Wilhin one year Be￿￿n and ffi¥e years 495 3,696 1.540 495 S,236 28 Rd#1￿ p*ty transacllons Th8 Fri￿dS of Swanage Pw raise funds t￿r members wwj porftsm lundralsing actMti8s. Thoir r•ssJlts figwes are incorw)raled Into those financ4al staiemenls. During Ihe year donations of £2fXI (2024.. £nill W¢Ngd frc*n tntstoes. 29 Subsldlarl•s Dgtsils of lh• Charitys %￿s￿jiaries at 31 2025 as folows.. Swanage Piw Cfyroany VAS lom)ed in 1859 the of{¥￿atrO pièr and fcrf cL418cting tolls. elc. due for the use of Ihe pigr. As a result of accru1r￿ fi* debentwe st(￿k interest and d8weciation Swana99 Pier Coryany generated a deficit for the year endod 31 2025 of £58812024". £588}. The Crywy olherwise dKJ not trade durkng the year. Al 31 Mar¢h 2025 th8 awegate ￿ the Iw thè a(X￿￿￿atsd defiot of Swanage Pier C¢ynpany culminatgd in an overall deficit of £26,312 (2024.. £25.724). Th• defiat mainly results from acc￿8￿ debenture stock Inte￿$1 amounung to £19.67212024.. t19.5691 of whith £15,650 was accru8d for 25 ygars from 1st April 1961 10 31 K48r¢h 1986. Interest wil ¢C￿tinue lo be accrued unlil il has begn ostablishgd beyond reasonable ¢knJbt that ts d•bÈntur• stcKk Mlternsl T•A Th)t ￿ demaThled by thyd pwb'es (thbs Ctynpany having waived its entitlemenll. Coryany's inveslrnent in Swanage Plor Cthiyny is as fikn:. 884 Shares of £10 each S% Preferencg S￿k 4% Debonture St¢)* 1859 4.5% Debenture St(¢k 1948 8.840 85.0% 6.359 93.4% 5.297 gg.9% 6.900 75.ly The tharity waiv&J its entittenwi to rac•lv• int•r8st on th8 d8b8ntw•s of S74￿age Pier Company. 17-