| Page | ||
|---|---|---|
| lteport ofthe trustees | ||
| Auditors' report |
||
| Statement offinancial | activities | |
| Balance sheet | 10 | |
| Statement ofcash flows | ||
| Notes to the financial | statements | 12 |
| Established | by deed | 28 October | 1988 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Charity number | 800493 | ||||||||||||||
| Trustees | Lady Judith Swire | ||||||||||||||
| M VAllfrey | |||||||||||||||
| M 8Swire | |||||||||||||||
| SC Swire | |||||||||||||||
| R J Leonar (retired | 3 I July | 2021) | |||||||||||||
| J H Kidner | |||||||||||||||
| Power to appoint | new | trustees | was vested | in | the | settlor | |||||||||
| during his lifetime |
and | is | thereafter | vested | in | Lady | Judith | ||||||||
| Swire during | her lifetime. | ||||||||||||||
| Settlor | Sir Adrian Swire |
||||||||||||||
| Trust fund | EI00. further | settlements, | accumulation | of income, | capital | ||||||||||
| accretion or |
otherwise | and | ag | property | representing the |
||||||||||
| same. | |||||||||||||||
| Objects | Such charitable objects as |
the Settlor | shall | in vn iting direct | |||||||||||
| or in default of direction | as the Trustees | shall | from time to | ||||||||||||
| time determine. | |||||||||||||||
| Accumulation | During the period | 2I years from | the | date | ofthe | trust | deed, | ||||||||
| the Trustees | had | power | to | accumulate | the | whole | or any | ||||||||
| part ofthe incoine | ofthe Trust Fund, | ||||||||||||||
| Power to retain | The Trustees | have | power | to retain | any | John | Swire E Sons | ||||||||
| Limited shares comprised | in the Trust Fund. | ||||||||||||||
| Investments | Powers ofinvestment as |
an absolute | beneficial | owner, | |||||||||||
| Investment | managers | Sarasin 8 Partners | LLP | ||||||||||||
| Juxon House | |||||||||||||||
| 100St Paul's | Churchyard | ||||||||||||||
| London | |||||||||||||||
| EC4M BBU | |||||||||||||||
| Bankers | Contra 8Co | ||||||||||||||
| 440 Strand | |||||||||||||||
| London | |||||||||||||||
| WC2R OQS | |||||||||||||||
| Auditors | Dixon Wilson | Audit | Services | LLP | |||||||||||
| 22 Chancery | Lane | ||||||||||||||
| London | |||||||||||||||
| WC2A ILS | |||||||||||||||
| Address | Swire House | ||||||||||||||
| 59 Buckingham | Gate | ||||||||||||||
| London | |||||||||||||||
| SW I E6AJ |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Expendable | ||||||
| Note | Fund | Fund | Total | Total | |||
| 6 | 6 | 6 | |||||
| Income and endowments | from: | ||||||
| Invesunents | 2 | 1,765,186 | 1,765,186 | 1,421,508 | |||
| Donations and legacies |
3 | 773 | |||||
| Total incoming resources | 1,765,186 | 1,765,186 | 1.422281 | ||||
| Expenditure on: |
|||||||
| Raising funds | 18,034 | 18,034 | 9.744 | ||||
| Chadtable activities |
1,616,840 | 1,616,840 | 1,323,051 | ||||
| Total expenditure | 1,616,840 | 18,034 | 1,634,874 | 1332,795 | |||
| Net gain on investment | assets | 23,145,157 | 23,145,157 | (10015,780) | |||
| Net incomef(expenditure) | 148,346 | 23,127,123 | 23,275,469 | (9,926,294) | |||
| Net movement In funds |
148,346 | 23,127,123 | 23,275,469 | (9,926394) | |||
| Reconciliation offunds: |
|||||||
| Fund balance brought | forward | at | |||||
| I January 2021 | 697,303 | 23,380,629 | 24,077,932 | 34,004,226 | |||
| Fund balance carried forward | at | ||||||
| 31 December 2021 | 845,649 | 46,507,752 | 47,353,401 | 24,077,932 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| Fixed assets | ||||||||
| Investments | 46,599,890 | 23,433,6I2 | ||||||
| Current assets | ||||||||
| Cash at bank and in hand | 752,240 | 642,430 | ||||||
| Debtors | 6 | 5292 | 4,872 | |||||
| 757,532 | 647.302 | |||||||
| Liabilities | ||||||||
| Creditors: | Amounts | falling due | ||||||
| within one |
year | 7 | (4,021) | (2,982) | ||||
| Net current assets | 753,511 | 644,320 | ||||||
| Total assets less current liabilities | 47,353,401 | 24,077,932 | ||||||
| Net assets | 47,353,401 | 24,077,932 | ||||||
| The funds | ofthe charity: | |||||||
| Unrestricted | income | funds | 845,649 | 697.303 | ||||
| Expendable | endowment | funds | 46,507,752 | 23,380,629 | ||||
| 47,353,401 | 24,077.932 |
| 2021 | 2020 | |
|---|---|---|
| Totalr | Total | |
| Net cash used in operating acdvides | (1,634,255) | (1379379) |
| Cath fhwt 8om investing activiaea |
||
| Interest snd dividends | 1,765,i86 | 1,421308 |
| Purchase ofinvestmams | (21,121) | |
| Net cash provided by invesdng acdvities |
1,744,065 | 1,421308 |
| Change in cash snd cash equivalents |
109,810 | 41,929 |
| Cash and cash equivalents brought forward |
642,430 | 600,501 |
| Cash and cash equivalents carried forward |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| 6 | 6 | ||||||
| Grants made te charitable | insdtudonsr | ||||||
| 999 Club | 2400 | ||||||
| Abbeylield (Reading) Society |
2,500 | ||||||
| Ability Dogs 4 Young People | 25,050 | ||||||
| Action4Youth | 15,000 | ||||||
| Age UK | 2,500 | ||||||
| Air League Trust | 15,000 | 15.000 | |||||
| Air Pilots Trust Honourable | Co | I0.000 | |||||
| All Saints, Farnborough | PCC | 2400 | |||||
| Alzheimer's Research UK |
3,500 | 25,000 | |||||
| Armonico Consort |
25,000 | I7,000 | |||||
| Art History Link-Up |
5.000 | 5,000 | |||||
| Autism at Kingwood | 5,000 | ||||||
| Barts Chadty Battle of Britain Memodal Be Free Young Carers |
Trust | 5,000 5,000 |
5,000 5,000 |
||||
| Bell House Dulwich |
9,113 | ||||||
| Birth Companions | 10,000 | ||||||
| Blandford Forum Parochial |
Church C | ouncil | 15,000 | ||||
| Bletchley Park Trusc Blue Cross |
1500 | 25,000 | |||||
| Brain Tumour Charity (The) |
10.000 | I0.000 | |||||
| Brendoncare Foundation |
5,000 | ||||||
| Britain Australia Society Educational British Insdtute ofFlorence |
Trust | 5,000 25,000 |
5,000 25,000 |
||||
| British Red Cross | 1,500 | ||||||
| Burton Dassett PCC | 9.500 | 3,000 | |||||
| Byrne Avenue Trust | 5,000 | ||||||
| Calvert Trust Exmoor | 20,000 | ||||||
| Carers Trust | 5,000 | ||||||
| Caudweg Children |
3,000 | 2,500 | |||||
| Central London Samaritans |
25,000 | 25,000 | |||||
| Chalke Valley History Trust | 15,000 | ||||||
| Charity Mentors Oxfordshire | 5,000 | ||||||
| Charlie Wailer Memorial | Trust | 5.000 | 4,000 | ||||
| Church Council StJames Coastal Forces Heritage |
Church De Trust |
nchworth | 2,500 5,000 |
||||
| Crisis UK | 25,000 | 25,000 | |||||
| Daisy's Dream | 5,000 | ||||||
| Devon Wildlife Trust | 25,000 | 19,500 | |||||
| Different Strokes | 5,000 | ||||||
| Ditchling Museum ofArt |
and | Craft | 3,000 | ||||
| Carried forward | 303,613 | 28I 050 |
| 4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
on «haritable | on «haritable | on «haritable | activities (continued) | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|---|
| E | |||||||||
| Brought forward | 309,613 | lu Luau | |||||||
| Diverse Abilities | 10,000 | 10,000 | |||||||
| Douglas Bader Foundation | 5,000 | ||||||||
| Dressability | 5,000 | ||||||||
| Earth Trust | 20,000 | I5,000 | |||||||
| East Sussex Bach Choir | 2,500 | ||||||||
| Envision | 20,000 | ||||||||
| Eton College | 25,000 | ||||||||
| Falkland Hall Charity |
10,000 | ||||||||
| Fine Cell Work | 17,000 | I5,000 | |||||||
| Force Cancer Charity | 12,000 | 12,000 | |||||||
| Friends of Guys Marsh Prison |
15,000 | I5,000 | |||||||
| Friends of Sussex Hospices | 6.000 | ||||||||
| Friends ofThe Ridgeway | 2,500 | ||||||||
| Glyndebourne Productions |
Limited | 5,000 | 5,000 | ||||||
| Got Mister Development | Group | (Ace Africa) | s+uu | ||||||
| Grange Festival |
20,000 | ||||||||
| Guide Dogs for the Blind | Association | 1,000 | |||||||
| Guideposts Trust Limited |
7,500 | ||||||||
| Guy's and StThomas' Charity |
IO,OOO | ||||||||
| Hampshire and Isle of Wight |
Air | Ambulance | 5,000 | 5,000 | |||||
| Helen & Douglas House | 5,000 | ||||||||
| Help Musicians | 10.000 | 25,000 | |||||||
| Heiitage of London Trust | 10,000 | ||||||||
| Hope for Tomorrow | 5,000 | ||||||||
| Horatio's Garden |
5,000 | ||||||||
| Hospicecare | 10,000 | ||||||||
| Household Divn Funds Organ |
Replacement | Funds | 10,000 | ||||||
| Imperial War Museum | 25,000 | 2O,eyO | |||||||
| Inkerman Housing Association |
15,000 | 15,000 | |||||||
| Inspire Foundation | 2,500 | ||||||||
| Institute of Cence- Researc | 3,000 | ||||||||
| Julia's House | 30,000 | 30,000 | |||||||
| Kathleen Ferrier Awards |
3,000 | ||||||||
| Katle Haines Memorial Trust |
5,000 | ||||||||
| Kilmartin Museum |
3,000 | ||||||||
| Lambourn RDA |
5,000 | ||||||||
| League of FHiends of Lewes | Victoria Hospital | I5,000 | |||||||
| Letcombe Brook (Wantage) | Charitable | Trust | 2,500 | ||||||
| Lifebeat | 20,000 | ||||||||
| London Library |
IO,OOO | ||||||||
| Lord Leycester Hospital | 25,000 | ||||||||
| Ma«millan Cancer Support |
15,000 | ||||||||
| Malta Aviation Museum |
Foundation | 10,000 | |||||||
| Maritime Archaeology Trust |
25,000 | ||||||||
| Mary Hare Foundation | 5,000 | ||||||||
| Mary Rose Trusc | 20,000 | ||||||||
| Maymessy CIC | 5,000 | ||||||||
| Migrants Organise |
20,000 | ||||||||
| Carried forward | 711,113 | 56I,420 |
| Analysis ofexpenditure | Analysis ofexpenditure | Analysis ofexpenditure | Analysis ofexpenditure | Analysis ofexpenditure | on | charitable | charitable | activities (continued) | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 6 | |||||||||
| Brought forward | 711,113 | 561,420 | ||||||||
| Museum ofOxford Development | Trust | 10,000 | 10,000 | |||||||
| Myaware | S,ODO | |||||||||
| Myeloma UK |
5,000 | |||||||||
| Nat Assoc Iaryngectomee | Clubs | (Nalc) | 20,500 | |||||||
| National Association Laryngectomee |
Clubs (Nalc) | 35,000 | ||||||||
| National Emergencies Trust |
Caronavirus | Appeal | 152,000 | |||||||
| National Literacy Trust |
5,000 | |||||||||
| National Migraine Centre |
3,0OO | |||||||||
| National Trust | 2,000 | |||||||||
| Nelson Trust | 25,000 | |||||||||
| Newbury Spring Festival |
10,000 | |||||||||
| Newbury YMCA |
2,000 | |||||||||
| Nomad | 5,000 | |||||||||
| Opportunity International |
UK | 15,000 | ||||||||
| Oracle Cancer Trust | 25,000 | |||||||||
| Orchestra ofthe Swan | 2,000 | |||||||||
| Outward Bound International |
10,000 | 10,000 | ||||||||
| Oxford Lieder | 7,500 | 10,000 | ||||||||
| Oxfordshire Association |
for | the Blind | 5,000 | |||||||
| Oxfordshire Community |
Foundation | 15,000 | ||||||||
| Oxfordshire Historic Churches |
Trust | 2,500 | 2,500 | |||||||
| Oxfordshire Mind |
10.000 | |||||||||
| Oxfordshire Youth |
5,000 | |||||||||
| Pancreatic Cancer Action | 2,500 | |||||||||
| Parkhause Award (The) |
25,000 | |||||||||
| PCC of Badger | 2,500 | 2300 | ||||||||
| PCC ofStAnnes Lewes | 15,000 | |||||||||
| Pitt Rivers Museum, University |
Of Oxford | 25,000 | ||||||||
| Place2B | 10,000 | |||||||||
| Prisoners' Education Trust |
20,000 | 30,000 | ||||||||
| RNLI | 1,500 | |||||||||
| Ross PCC | 1,000 | |||||||||
| Royal Air Force Benevolent | Fund | 25,000 | 25,000 | |||||||
| Royal Air Force Museum | 25,000 | 10,000 | ||||||||
| Royal British Legion | 2,000 | 5,000 | ||||||||
| Royal Hordcultural Society |
(The) | 25,000 | ||||||||
| Royal Opera House | 5,000 | |||||||||
| Royal Philharmonic Society |
2,500 | |||||||||
| Royal Trinity Hospice | 60,000 | 35,000 | ||||||||
| Safe Passage International | 7,500 | |||||||||
| Salvation Army |
5,000 | |||||||||
| SameYou | 5,000 | |||||||||
| Schoolreaders | 7,500 | |||||||||
| Scottish Opera | 1,500 | |||||||||
| Seeds4success | 10,000 | 10,000 | ||||||||
| Semley Srhool | 4,396 | 2,408 | ||||||||
| Shannon Trust |
30,000 | 30,000 | ||||||||
| Shipston Home Nursing |
15,000 | |||||||||
| Carried forward | 1,126,509 | 1,037,828 |
| 4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
on | charitable | charitable | activities (continued) | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| E | E | |||||||
| Brought forward | 1,126,509 | I,037,828 | ||||||
| Sinfonia of London | 10,000 | |||||||
| Silver Line | IO,OOO | |||||||
| Southwark Day Centre for |
Asylum | Seekers | I 1,500 | |||||
| Sparsholt with Kingston Lisle |
PCC | 10,000 | 28,303 | |||||
| SSGreat Britain Trust | 25,000 | |||||||
| StCatherine College Wallace |
Watson | Award | 10,000 | 5,000 | ||||
| StClare Hospice | 5,000 | 5,000 | ||||||
| StJohn's Church Waterloo | I5,000 | |||||||
| St Luke's Hospital | 5,000 | |||||||
| St Mary's Church, Great Parndon | Pcc | 1,500 | ||||||
| St Michael and All Angels Clifton |
Hampden | 5,000 | ||||||
| StSampsons Church |
7,500 | |||||||
| Stoke Mandeville Spinal Research |
I0,000 | |||||||
| Stow Maries Great War Aerodrome | Trust | 10,000 | ||||||
| Style Acre | 10,000 | IO,OOO | ||||||
| Submariner Memorial Appeal |
10.000 | |||||||
| Sue Ryder Palliative Care Hub South Oxfordshire | 5,000 | |||||||
| Sussex Heart Charity | 10,000 | |||||||
| Sussex Historic Churches | Trust | 10,000 | ||||||
| South West Grid for Learning Trust Ltd | 10,000 | II O,OOO | ||||||
| Thames Valley Air Ambulance | 10,000 | |||||||
| The Clink | 10,000 | |||||||
| Toke Farm Education |
I0.000 | |||||||
| Trussell Trust | IO,OOO | |||||||
| Two Moors Festival | 5,000 | 5,000 | ||||||
| University College Oxford |
(Univ) | 127,500 | 2.500 | |||||
| University of Southampton |
10,000 | 25,000 | ||||||
| Unlocked Graduates |
50,000 | |||||||
| Veterans Contact Point | IO,OOO | |||||||
| Versus Arthritis | 3,000 | |||||||
| Wallace Collection | 7,500 | |||||||
| Wantage Choral Society |
5,000 | 5,000 | ||||||
| Wantage Independeni. Advice Centre |
5,000 | 5,000 | ||||||
| Wantage Silver Band |
15,000 | |||||||
| Wantage Summer Arts Festival |
2,000 | |||||||
| Waterloo Uncovered |
20,000 | 20,000 | ||||||
| Wentworth Woodhouse |
Preservation | Trust | 22,003 | |||||
| West London Zone | 10,000 | |||||||
| Whittington PCC |
2,500 | |||||||
| Worshipful Company of Shipwrights |
10,000 | |||||||
| Young Musicians Symphony |
Orchestra | YMSO | 20,000 | |||||
| Zoological Society of London | 2,500 | |||||||
| 1,571,012 | I,271,63 I | |||||||
| Donations and grants ofless thon EI,OOO: |
||||||||
| Bayford PCC | 100 | IOO | ||||||
| Essex Yeomanry Association |
500 | 500 | ||||||
| Outward Bound Trust |
500 | |||||||
| 600 | I,IOO |
| 4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
4. Analysis ofexpenditure |
on | charitable | charitable | activities (continued) | activities (continued) | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total donations | 1,571,6 I2 | 1372.731 | ||||||||||
| Cavernancc | costs allocated | to | charitable | activities: | ||||||||
| Administration | fee | 3,600 | 3,600 | |||||||||
| Consultancy | costs | 38,484 | 43,738 | |||||||||
| Auditor's remuneration |
3,144 | 2,982 | ||||||||||
| 45,228 | 50,320 | |||||||||||
| Total expenditure on charitable |
activities | 1,616,840 | 1323,051 | |||||||||
| Expenditure | on | charitable | activities | in | both | years | was attributable | to the unrestricted | income fund. | |||
| 5. Fixed |
asset investments | 2021 | 2020 | |||||||||
| 6 | 6 | |||||||||||
| Quoted/unquoted Investments |
||||||||||||
| Market value | at | start ofyear | 23,433,612 | 33,449,392 | ||||||||
| Addidons | 21,121 | |||||||||||
| Net unrealised | gainsf(losses) | on investment | assets | 23,145,157 | (ioois,yeo) | |||||||
| Market value | at | end ofyear | 46,599,890 | 23,433,612 | ||||||||
| Investments | have been made | in the | following | categories ofsecurities: | ||||||||
| 2021 | 2020 | |||||||||||
| f. | E | |||||||||||
| Quoted | ||||||||||||
| UK equities | 5,399.989 | 4,999,270 | ||||||||||
| Unquoted | ||||||||||||
| UK equities | 41,199,901 | 18,434.342 | ||||||||||
| 46,599,890 | 23,433,612 |
| 6. | Debtors | 2021 | 2020 | |||||
|---|---|---|---|---|---|---|---|---|
| E | 6 | |||||||
| Ashy r rinhrorc | 5292 | 4.872 | ||||||
| 7. | Creditors: amounts | falling due within one year | 2021 | 2020 | ||||
| 6 | ||||||||
| Accruals | 3,144 | 2,982 | ||||||
| Other creditors | 877 | |||||||
| 4,021 | 2,982 | |||||||
| 0. | Analysis ofnet | assets between | funds | |||||
| Unrestricted | Expendable | Total | ||||||
| Income | Endowment | |||||||
| fund | fund | 2021 | ||||||
| Fund | balances as at 31 December 2021 are | represented | by: | |||||
| Cash | and Debtors | 849,670 | (92,138) | 757,532 | ||||
| Creditors | (4,021) | (4,021) | ||||||
| Investments | 46,599,890 | 46,599,890 | ||||||
| 845,649 | 46,507,752 | 47,353,401 | ||||||
| Reconciliation | of | net movement | in funds | to net cash flow from | operating activities |
| Reconciliation ofnet movement in funds to n |
et cash flow from operating activities |
|
|---|---|---|
| 2021 | 2020 | |
| 6 | ||
| Net movement in funds |
23,275,469 | (9.926,294) |
| Deduct income from investments | (1,765,186) | (1,421308) |
| Add lasses/(gains) on investments |
(23,145,157) | 10,015,780 |
| Increase/(decrease) in creditors |
1,039 | (42,685) |
| Increase in debtors |
(420) | (11,75I) |
| Net cash used in operating activities |
(1,634,255) | (1,379,579) |
| Financial assets | 2021 | 2020 | |
|---|---|---|---|
| E | E | ||
| Quoted/unquoted | investments | 46,599,890 | 23,433,612 |
| 46,599,890 | 23,433,612 |