JOHN SWIRE 1989 CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2020 Charity number. 802142 JOHN SWIRE 1909 CHARITABLE TRUST l N D EX Year ended 31 December 2020 Page General information Report of iht rrusrees Audltors, report Ststtment ol finanti*l actiwties Balance sheet 10 Ststement ol tash flows Notes to the financl41 srarement¥ 12 JOHN SWIRE 1989 CHARITA8LE TRUST GENERAL INFORMA TION Year •nded 31 Dffember 2020 Establish•d by deed 7 september 1989 Charlty numb 802142 Trustees I S Swlre B N Swire M C Robinson {deceased 23 November 20201 Pittgerald lappoit)ted 18 Augu$t 2020) W Leigh-Pernberton (appointed I l August 20211 Power to appoint new trustees was vested in the seulor durin¥ hi5 lrfetime and thereafter in the trustees provided thar there are ahvays at least three trustee5. Settlor &r john Swire. CBE {d￿e￿dI Trugt fund £100. f￿rther settlements. accumulation ol incorne. capital accretion or otherwise and all property representin¥ the 5arne. Obje¢ts Such charitable ¢)bjects a5 the Shall in writing ¢&rect or in default of directyon as the Trurtees shall from time to tyne deterniin Accumulatlon During the period of 21 years from the date of the trust deed, the Trustees had power to accumulate che whole or any part of the income of the Trust Fund. Power to retaln The trustees have power to retain ary john Swire & Sons mited 5hare5 cornprised in the Trust Fund. Investment Powers ol investment a5 tn absolute b￿efIcIal owner. InV￿tment managers Sarasin & Partners LLP luxon House l¢)0 St Paul'5 Churchrdrd Lon&)n EC4M 8BU Bankors Coutts & Co 440 Strand London WC2R OQS Audltors Dixon Wilson Audit Serrice5 LLP 22 Chancery Lane London WC2A I LS Addre55 Swire House 59 Buclinzham Gate London SWIE6AI JOHN SWIRE 1989 CHARITABLE TRUST REPO R T O F TH E TRUSTE ES Y¢ar ended 31 December 2020 The trustees present their reporc and financlal sratem￿rs of Ehe thariw for the year ended 31 December 2020. The financial 5tstements have been prepared in accordance wth the accounting policiES set out in note l of the financial statemethrs and wth the Aetounting and Reporting by Charities.. Statemtnt of Recommtnded Prydetiee applleable to ch*riil*s prèparlng thelr a¢coun¢s in attardan¢¢ wirh the FDancial Reptsrtlng Sundard applitsbl¢ In the UK and Republic ol Ireland IFRS1021- Thi5 report should be rEad in conjunction with tht inf*)rnlation included in paze 2. Structure* governance and management The Trust is an unincorporatgd charicyi construcL8d under a trust deed dated 7 September 1989 and 15 a rytergd th3riry. number a￿142. The power to appoint new trustees was vested in the settlor during his lrfetime and thereafter in the trustees provided that there are *￿y$ at least three trustees. Kesponslbility for the induction of any new trustee, which Involve5 awareness of rhe hiscory and approach ol the charity and an understanding of a Trustee's dutie5, Ile5 with the trustees. A new trustee would receive copies of the pre￿0￿$ year's accotsnts. At the Trustee5' meetin& the trustees agree the stratey of the Tru5( including considerauon of donation5. inYesvneTrt& reserves and risk management policies. The day to day adminisirat40n of the charity is carried out by john Swire & Sons Limited and the inve5tynenc poliq is inplemenred by independent fund managers. Grant makin8 policy The rru5cees meet to con%der what 8rantsldonations they will make and to revRw any feeoback they have r*¢eN*d. Althou￿ the trustees make some grants wlthout formal applic2tlon¥ they normally requlre organSsations to Submit a request explaining h¢)w rhe funds could be used and what would be achieved. Obl¢rtlves. a¢Uvltles aChIe￿ments for the publlc benefflt The obiective of the Trust 15 to provide donations and Krants for charitable purposes in the United KinKdom and clscwhcre. During the year the Trust has bEen a￿e to COThtirtue tD rnake doTrations and yants totsllifig £1.502.(*)O QOI9 - £1,892.2921. The trustees intend to continue to provide support to their chosen ¢h4rirable ¢au$e$. The truS￿eS. having regard to rhe public benefii guidance published by the Chariry Comrni55ion in accordance with settton 17 of the Charities Act 2011. consider that the purposes and activities ol the charity satisfy the requirernents of the publK benefit test set out in 5ectThi 4 of the same ACL Inv￿trn•nt pts11￿ and p•rfornianc• Under paragraph 5.2 01 the trusc in5¢rument the Lrustees have power to retain shares in john Swire & Sons Limited. and are not under any duty to diversify to the extent that the trust fund comprises those shares. However, the trtjstees have alsts noted rht statucory duty of car¢ rÈquired by the Tru5t¢e A¢¢ 2¢)00. in relation to their holding $uitsbl¢ inY¢srm*n(s and the need ftsr diY¢rsifi¢ation of investments so far as is appropriate to the ircumstances of the trust. The trustee5' overall inYe5trnent obFctN? IS to achieve a level of investrneTrt incorne growth which at least rnaLche5 the rate ol inlLition. while protecting the value of the charitys capital in real term$. The value of the ordinary and preference $hares in john Swre & Sons Llmited fell by £13,025.628 during the year. This reflects the Impact ol the COVID-19 pandetnic on the Yaluation of Ehe compiny.. however rhe tru$tees are sarisfied Ehat rhe company Is in a robust position and this decrease in TrAlue will reverse tsver time. JOHN SWIRE 1989 CHARITABLE TRUST R EPO R T OF THE T RUSTEES (CONTI NUE DI Year ended 31 December 2020 The listed investment portfdio perforniance, managed by the invesrment managers, was 9.4% 12019 - 19.6%> against their benchmark of 6.8%12019 - 18.5%). The income from unlisted investment securities de£reased by 1.2% during the year, a decrease of £19.207. Where inves(rnen(s have been donated to rh¢ charity, the trustee5 aho con$id¢r wh¢th¢r a dis￿$#1 of sy¢h investments could disCour￿e similar donations in the future. The trustees recognise that particular investment risks arise from lack of dNersific*tKsn where substantial holdirbgs in unqU0￿d companie5 are donated to the charity and retained. The trustees seek to mitigate the risk5 through their board representation, as well as by the regular monitoring of such investments on receipt ol published financial informa¢K)n. The charrw doe5 not opErate an "ethical investment policy.- Key manwment personnel remuneratlon The trustees consider the board of trustee5 as comprising the key management personnel of the charity in charge of directing and controlling the charity and operatinE the charity on a day-to-day basi& All Trustees pve their time freely and no trustee remuneration or expense reimbursements were paid in the year. Rlsk m•na8emtnt Th* major rlsks to whl¢h the Trust may be ￿posed. a5 identiffed by the tru$t¢t& have be¢• re¥ie*¢d tts ￿nfirM that systems. where appropriate, e￿$¢ EO mItI￿te th05È ri$k5. The principal risk5 faced by the chariry lse in the performance of the investment5 and risks frorn ineffective grant makin8. The trust*ts recognlse that th¢ Trust's ¢onsls¢ ￿rgefy of a holding of shares In a priydte ¢ompany Ehat werÈ sertled upon the truste¢s wlth the power contained in the Deed its retain anij ¥¢ not undÈr any dw to dNersfy those shares. The Ydriability of quoted investment returns 1$ a maic* fiTrancial risk. It mitigates this risk by retsining expert investment athisors and having a diversified investment ponfolio where possible. The rr4k from ineffectNe grant-Ma￿nZ 15 micigated by carryin% out research on charitable in5tytutions to e5tabli5h whether potential donations will be used effecthfely and in furtherance of this chariws own obiectyves. Reserves pollcy The Trust was ¢r¢ar¢d in 1989 with a fund int¢nded to provide a regular level of income which ¢¢uld bE di5rrtrbuted lor * wSde varkny of charitable purposes. In addltlon. and this 15 evldenced by thè exlsrence of the 21 year power of accumulation. it has been the Settlor's and the ¢ru$tees' inten¢K*n thai the lund should be able to grow during the accumulation perK)d with the help of accumulations of incorne. Once income is accumulated. it becomes an addition to the Trust'5 CaPital. The accumu&tion period ended on 6 Septsmber 2010. It 1$ the trustees. policy not to rerain reser¥È$ as the charity's overheads are low and any defficlt on the unrestrl¢ted fund can be ffler from transfer5 frorn the enéowTrent fund at the discretDn of the trustee5. At the b￿ance sheet date the balance on the unrestricted reserlfes was £15.299.82412019- dEficit of £93.421). Flnanclal p051tlon The tru5tee5 considered the financAI p0s￿on to be satisfactory. There 1$ sufficient cash, in£omlng donations aTrd Invesrment income to meet the tommitted donations and co continue tts provtde support to their Chosen charitsble causes. During the year the trust re£eived a donation from a related settlement ol £14,187.281 on the winding up of the trusL The donatton was S,710.789 shares in jupiter ICVC and £9.740 01 creditors to pay. The trustees decided to Sell 5.7 milllon of the shares durlng the year and the remalning $harÈs wÈre Sold after the year end. IOHN s￿RE 1989 CHARITABLE TRUST REPO R T OF TH E TRUSTEES ICO NTI N U E DI Year ended 31 December 2020 Impact ofCOVID-19 The trustee5 have considered the impact of COVID-19 Ott the attivities obieetives and financial position of the Trust and they have been satisfied ￿th the operations in the year &ven the widespread disruption (aused by the pandemic. The financial position remains robust and the Value of the Endowment Funds remalns In excess of projected donations lor the next decade. Trustees. responslbilltles In relation to the fhnancial statements The trustees are responsible fgr preparing the Trustees. report and the financi￿ 5taternents in accordantt with applicable law and United Klngdom knountlng Stanéard5. The law applicable to charit￿5 in England and Wales requirES the trustees to prepare financial statements for e¥h financial y¢ar which yve a Crue and fair view of che state of affairs of the charity and of the incoming resource5 and application of re50urce5 of ¢he charity for that period. In preparlng th¢s¢ finan¢i#l Sfatem*nt5. the trustees are required to.. s¢I¢¢E 5Uitabl¢ accounting policie5 and then apply thern con5iStendy. observe the methods and principles of the Charities SORP: make judgements and accounting estimates that are reasonable and prudent: stare whether applicable ac¢gunting 5tandarth have been followed svbject to any departures disclosed and eXPl￿nEd in the financial surements., and prepare the financial statements on the Koing concern basis unless it 15 inapproprrate to presume that the charity will continue in bu5ines5. The trustees are responsibte lor keeping accounting record5 which disclose with reasonable accuracy the financi*l p¢sition of the charity and enable ¢hem ¢0 ensure that the financial staternents comply wth the Charit*s Act 2011. the Chari¢y (Accounts and Reports) Regulations 21X)8 and the provisions of the Trust deed. They are responsib for salegu the assets of the charity and hence for taking r•a50Trable steps for the prevention and det￿tiO fraud doth irre8uJarities. 8 N SWIRE For the trustees 12 Oetobèr 2021 JOHN SWIRE 1989 CHARITABLE TRUST AUDITORS. KEPOR T Year ended 31 Decembèr 2020 INDEPENDENT AUDITORS, REPORTTO THE TRUSTEES OF THE IOHN SWIRE 1989 CHARITABLE TRUST Oplnlon We have aLtdited Ihe financial statements ol the john Swire 1989 Charitsble Trust (the 'chariw'l for the year ended 31 December 2020 which comprise the Statement of financrdl actsvitles. balance sheet, Sfaternent ol cashflow5 and IIOCè5 to the financial statements, including a summary of significanc accounung policies. The ffinancial reporting framework that ha5 been applied in their preparation Is applicable law and United Kingdorn Attounting Standards Including ￿nanCIal Reporting Standard 102 The Financial Reportlng Stattdard applicable in the UK and Republic of Irel¥fid (Unl￿d Kingdorn Generally Acceptsd Accounting Pratticel- In our opinion. the financial statements.. give a true fair view of the state of the charity's 3ffa?r5 a5 at 31 December 2020 and of its i￿orning re5ource5 and application of resources for the yw then ended.. ha￿ been properly prepared in accordaTrce with United Kingd￿￿ Gener￿lY A¢¢epttd k¢ounung Practice: have been prepared in atcordance with the requirements ol the Charities Act 2011. Ba515 for oplnlon We conducted our audit in accordance with International Standards on Auditlng IUKI (ISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditor's responsibiliries for the audit of the financial sf*tements section ol our reporL We are independent of the eharity in accordante ￿th the ethical r¢qulr¢mtnts that are rekrdnt to our audit ol the financial statements in the UK, including the FRC'5 E¢hica( Stan&rd. and WÈ have IL*lfilled our other ethical re5ponsibilitye5 in accordance wtth these requirements. We b¢lfjeve that the audit evidence we have obtained is sufficient and appropriate to pro¥idÈ a basis fpr our opinion. Conclu51ons relatln8 to 8oln8 concern In auditing the financial statements, we have eoncluded ihai th¢ truste¢'$ use of the going conttrn basis of accounting in ¢he preParat￿n of the financial statemefiTS is 2ppropAa£e. Based on the work we have ￿rformed. we have not identified any material uncertainties relating to events or conditions thai indiwdually or eallethvely. may cast signrficant doubl on the charity's ability to continue as a going concern for a perlod of at least twel￿ months from when the financval statements are authori$ed for issu Our responsibilities and the responsibilities of the trus*e5 With respect to going concern are descrlbed In the releYdt)t seetbonx of thi4 report. Other Informatk+n The other information comprises the infomation included in the anThual reporL other than the financi￿ statemer and our auditor's report thereon. The trustees ar¢ responsible for the other information. Our opsnion on the financial statements does not cover the othér information and we do not express any form ol assurance conclusion thereon. JOHN SWIRE 1989 CHARITABLE TRUST AUOITORS REPOR T Year ¢nded 31 December 202 In conn¢¢iion with our audit of the financkil 5fatements. our re5pon¥ibility 15 to read the other informarion and in ddng 50, consider whether the other informiuon is materially inconsistent with the finAncial 5taternents or our knowledge obtained in the audit or otherwise appears w be materially misstated. If we identify such rnaterial inconsistentie5 or apparent material mi55taternents, we are required to éetErmine whether there is a material ml$ststement In che finantial sratements or a material mlsstatemtnt of the other Infomiat]on. If. based on the work we have performed, we ¢onclude that th¢rè 1$ a materll mlssratement ot this C*ther lfifom)atlon. we are required to report that tseL We haye nothing to report in thi8 reprd. Mattors on whlth we are requlred to report by exceptlon We have nothing to report in respect of the following matters in reLition to which thE Charitses IAccounts and Reports) ReguLition5 2008 requirt 115 ta r¢port to you if. in our opinion- the infgrmation yven in the fmancial $ratement5 1$ incon*s*n¢ in any rnater￿ re5pecc wth th¢ trustee5 reporL or sufficient accounting recor& have not been kept,. or the Ilnanual sratemenrs ar¢ no¢ in aKreement %wth the accounting record5.' or we have not recefved ￿1 the infomiadon and exP￿na￿On$ we requlre for our audlL Responsibilitie5 of trustees As explained more fulty in the tru5tees' responsibifrties statement set out on page 4. the trustee5 are responslble for the preparation of the financial statements and for being satisfied that they give a true and fair wew, and for such internal control as the trustees determiTre 1$ necessary to enable the preparatioTr d financial statements that are free from matsrial misstatsmeni whether due to fraud or error. In preparing the financial statements. the trustees are responsible lor assessing the charitys ability to continue as a going concern, disclosing. as applicable, matters related to going concern and uslng the going concern basis of aecounting unless the trustees elther Intend to liquidate the tharity or to teast optratlons, or have no realistic akert)arive but to do so. Audltows responslbllltles lor the audlt of the flnanclal Statements We have been appointed as auditor under secrion 144 of the Charitie5 Act 2011 and report in a£cordarKe with the Act and relevant regulations made or having effert thereunder. Our objectives are to obtain reasonable assurance aboLtt whether the financial statements as a whole are free from material rnis5¢a¢ernenL whether due ¢0 fraud or error, and ￿ issue an auditor's repor¢ that include5 our opinion. Reasonable assurance is a high level of assurance, bLSt is not a guarantee that an audit conducted in accor&&nce with ISAS (UK) ￿11 always deretc a material misstattmènt when it Èxlsts. Mi%statemencs tan arise fr¢)m frdud or error and are consldèrtd materlal If. indi*Adually or In aggregaté. they tould reasonably be èxpected to Infiuéfite the e¢gnomic de¢i5vJns of u5er¥ taken on the ba515 of these financial ¥taternenrs. Irregularities incl¢Jding fraud. are instances of non-compliance with law5 and regulation5. We design procedures in lirse with our responsibilities, Outlined above. to detect material misstatements in respect of irregularitie5. including frzud The extent to which our procedures are opable of detecting irre8ularitye5. including fraud 15 detailed below: JOHN SWIRE 1989 CHARITABLE TRUST AUDITORS R EPO R T Y•ar ended 31 December 2020 W¢ gained an understanding of the leDI and regulatory framework applicable to the charity by considerin& amtsngsr other things. ¢he Sector in which it operates, and considered the risk of acu by the charity that were contrary ¢0 wlicable laws and regulaclon$, Including fraud. We designed audit procedures to respot)d to the 4S3e5sed level of risk but reeognised that the risk of not detecting a rnaterial misstatement due to fraud Is higher than the risk of not detecting one resulring Irom error. as fraud may involve deliberate coneealmÈnt by. for examp￿. forgery or intentional mi$representstlon¥ Or through collusion. We focused on laws and regulaiv)ns which ciyjld &ve rise to a matÈril mlsstarement in ¢h¢ financial ststements, including. but not limited to the Charitie5 Act 2011. Our tests included xgreeing the financial statement disc105ures to underlylng supportlng tS)tumentation. enquirie5 with managemerst and enquiries of thlrd parties. As in all our audits. we also ad¢frtssed the risk of management override of internal eontrols. including te5tin8 iournals and evaltrating wheiher there was evidence of bias by managem¢nt thac rèpr¢sènted a risk of materHI misstacement due to fraud. There are inherent limltations In the audit procedures described above and, the further removed non-cornpliance with law5 aTrd regulations Is from the events and transaction5 reflected in the financial statements, the less likely we would become aware of it. We dld not identify any key audit rnatters relatlng to irregulaAtle5. intluding fraud. A further descriptK)n of our responsibilities lor the audit of the financial ststements 15 Iocafed on tht Fina￿la1 ReporriTrg Council'$ webslte aL' w•M.frLtsr&Ukja￿ditor$re$ponsIblIItIe$. This destription forms part ol our auditor. reporL Use of our report Thi5 report is made solety to the ¢hthtys trustee5, 35 a body, in accordance with regulatlons made under %rtion 154 of the Charitie$ Att 2011. Our audit work has been undertaken $0 that w¢ might sure co the charity's irustee5 those matters we are required to state to them in an audiwr's report and for no other purpose. To the fulle5f extent pemiitted by law, we do nor accept or assume responsibility to anyone other than the charity and the charity's trustees as * body. for our audit work lor thi5 reporc or for the opinion3 Yée have forrned. Dixtsn Wilson Audit Servires LLP. Statutory Auditor 22 Chancery Lane London WC2A I LS Date.. 19 Oelober 2021 Drxon Wilson Auth Serylce$ LLP Is ellglblE to act a5 an auditor ￿ tsrm$ of $0(tv)n 1212 of the Compan￿$ Att 2eoJ6. JOHN SWIRE 1989 CHARITABLE TRUST ST A TEM ENT OF FI NAN CIAL ACTIVITI ES Year ended 31 December 2020 2020 2019 Unre$trlcted Expendable Income Endowment fund fvnd Note Total Totsl Income and endowments from: Donatlons lTrves£ments 14.187281 1.904,993 12SO.000 15,437,281 1.904.993 1.829.937 Total Incomlng resources 16.092,274 12SO.OCQ 17,342,274 1.829.937 Expendlture on: Rai5illKfvnds Charitable actNities 7.130 1.552.263 6.066 13.196 1.552,263 1.946.888 1.946.888 Totsl ¢xpendlture 1559,393 6.066 I.S6S,459 Net lojses on investments 860.364 112,603.416) 111.743.052) (2.624.743) 111.359.482) 4.033,763 {2.741.694) I I l J59.4821 4.033,763 (2.741.694) Net Incomel(expendlturn) N•t m(wtment In funds 15.393.245 15,393,245 Reconclllatlon of funds: Fund balance brought fonvard al I january 2020 Fund balance carried forward at 31 December 2020 193,4211 1 S,299,824 43.955.370 43,861.949 46.603.643 32595.888 47,895,712 43.861.949 All amount5 are in respect of continuing activities. JOHN SWIRE 1919 CHARITABLE TRUST BALANCE SHEET At 31 December 2020 2020 2019 Note Fixed ￿lets.. lTrvestment5 44,573,598 43.431.967 H.573.598 43.431.967 Current assets: Oebtors Cash at bank and In hand 12.542 3.317003 481.552 3.330.345 481J52 Llabllltles: Creditorn Amounts falling ijue within one year Net current ass¢ts 11231) (51 J70) 3,322.114 429.982 Total assets 1•5s current Ilzbllltles 47095.712 43.861.949 Net assets 47,895,712 43.861.949 Th• fund5 of the chJrlty: Expendable endowment lunds Ur¢restrleted incorne funth 32,595.888 43.955J70 (93,421) 43.861.949 15.299.824 47.895,712 The flnanclal sratem¢nts tsn pages 9 were S￿ned on its beh I were approved by tht board of tru5tee5 on 12 October 2021 N SWIRE Trust¢t 10 IOHN SWIRE 1989 CHARITABLE TRUST ST ATEMÉNT OF CASH FLOWS Ye*r ended 31 December 2020 2020 Totsl 2019 Total Ner cash used ITh operating actNr(ies 1381,0&)I (1.930.003) C05h fjm from intyt5ting Oci￿le Interest and dMdEna 1.904.993 1029.937 Purchase of investments Proceed5 frorn disposal of investments Net cash (used inllprovided by tnvesting activities 113.401,9081 14.714,246 3,217,331 1,829.937 Change in eash and cash equlvalen Cash and cash equivalents brought fotward Cash and cash equivalents carritd ftsrward 1836.251 (100.066) 581.618 481,552 3.317.803 481.552 JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended JI December 2010 Acw5 Abbey Physic Community Garden ABF The Soldtr5' Chariry Acom Action For Me Action Medie21 Research Action on Hearing Loss 1500 5.000 1.000 15.000 10.000 1.000 I,O(Kt 1.000 5.000 1.000 10.000 1.000 1.000 1.000 26.250 2,500 1.000 26,000 26.000 Age UK Age UK Isle of Wlght I Saints. Farnborough PCC mshou$e Assotiation Alzheimer's Research UK Alzheimer's Socitty gkor Hospital for Chll4r¢n UK Arrhrids Care Artists. GenÈral Benevoltnt lTrsthution Ashden Asthma UK Adantic S•lmon Trust Backcare INational Back Pain AssocIat￿n} Bam Owl Trust 1.000 1.000 26.0(10 15.0( 1.000 1.000 1.000 5.oc I,O¢)O 1.5 1.0 i.o(w) 1.000 21,500 I,¢WQ 2.50Q 15.000 Big lssut Foundatton Blind V¢teran5 UK 8loodwi5e Brain & Spine Foundation 8r¢3St Cancer Haven Bristol fvners Heritage Trust i￿n-AUStralia Sociery Edu Trust Brtti5h Buttertly Conserwdtitsn SDciety Ltd Britt5h Disabled An￿Ing Association Brit$5h Heart Foundation British Li¥er Trust British Red Cro55 British Red Cros¥ (Essex) British Red Cro¥s (Kent) BTO, British Trust For Ornithology Caldecort Foundation Campaign Against Living Miserabty ICALMI Campaign To Protect Rural Enland ICPREI Cancer Research UK Canterbury Cathedral Trust Canterbury Choral Society Canterbury Festirdl Canterbury Food Bank Carried forward 10,oc 3,500 1.000 150,000 25.000 l.OtK) 5.000 1.000 i.ooo 3.000 1,000 1,000 10,O(*) 1.000 1,000 1.000 1.000 6,000 1.000 10.000 l.C4)0 i.th)o 25.¢)00 1.000 20,000 I0,c￿) 50.000 25.000 1,000 20.000 206,750 422,SOCI 14 JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended J l December 2020 Analysls of expenditure on charitable activities (tontinued) 2020 2011 Brovzht forward 206.750 422500 Carefreebreaks Caritas Anchor House Catching knves Changing Faces Changing Minds Kent Chatham Historic Dod(y3rd Trust Chefs In Schoo15 Chelsea Physic Garden Company Cicra- Crohns in Childhood Researrh Asso¢iatkJn Citizens Advice &Jre?u in Swale Cornmunigrow Contatt the Elder Coronary Preven¢ion Group Courtauld Institu￿ gf Art Fund Create Arts Crirnesioppers Trust Crisi5 UK CruTrdale & Godmersham PCC CruTrdale Fwr Cruse Bereavement Care- East Kènt & SvAle Deal Music and Arts Dec Cyclone Idai Appeal Dernelza House Children's Hospice Design and Manufacture Disability (D¢mandl Dkibetes UK Dover Boar Tru5r Fund Down'5 Syndrome Associat￿n Earl Mountbatten Hospice East Kent H05Pitals- Mountba¢ten C¢ntre E￿t Kenr Schools Together Ehas (Edenbridge Holtday Acti¥iries Scheme) Épilepsy Re5eareh UK Essex Boys & Girls Clubs Ess¢x Cl¢rgy Charity E¥$￿ Wildlrfe Trust Essex Yeorninry Association Eton College hmily tin Fare Share Faver5ham Music Club Faversham Society Frfth Trust Folkes¢one Dover and Hythe Samarttsns Friend5 for Lelsure Friend5 of Faver5harn Cotug¢ Hospiul Frienth of Kent Churches Game & Wildlrfe Conservation Tru5¢ Garden Museum Geffrye Museum Carried forward 50.000 5.000 45.OOQ 10.000 70,000 15.000 5,000 16,000 16.000 10,000 25.000 2.000 1.000 5.000 10.740 i.ooo 25.OQO 2JOO 10.000 15.000 1.000 4.000 5.000 8500 i 0.000 9200 5.000 2500 1.000 1.000 15.000 1.000 25,000 1,000 1,000 Imo l O.(*)0 5.000 i.ooo 1000 1.000 1.000 1.000 Imo 25.¢ 1.000 I 1.000 3.000 2.500 2.500 2JOO 25,OQO s.000 5.0(10 i.o( 1.000 17.667 1.000 20.000 1,000 1,000 1.000 1.000 409.750 816.107 IOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 Dec¢mbor 21120 Analys19 of expendltur• ofi charlt*l¢ artlvltle5 (contlnu¢d) 202• 2019 8rou8ht forvrdrd 409.750 816.107 Gtynd¢bourn¢ Productions Lirnited Got Matar Development Group (Ac¢ Africa) G￿rkhA Weware Trust Hampshire &1sle Of Wi8ht Air Ambulance Hampshire and the IOW Comrnuniry Found Harlow CriEkei Club IMarigold5 Recreation) Harlow PCC Hattsr Cardiovascular In$titu Heart 01 Kent Hospice Htlp Musician5 UK Herne Bay Counselling Service Home-srart South West Kent Hope for Tomorrow Hospice in the Weald Household Division QueeTr'5 Silver jubilee Trust I Can Charity Imperial Cancer Research Fund Independenc Art5 Inspire Foundation Involve Kent Irish Guard5 A550ciation Irish Guards Benevol¢n¢ Fund juvenile Diabetes Research Fovndation Kent and Medway Medical School Dev Fund Kent A550ciation for The Blind Kpnr Cornrnuniry Foundation Kent County Organists. A5s0cklt￿n Kent Ms Therapy Centre Kent National Garden kheme Kent Refugee Action Net¥¥ork IKRANI Kent Wildlife Trust KeTr¢ 5urrey & Sussex Alr Ambul**ce Trust Kidney Research UK King E(hvard Vll's Ho¥ptsl King's Sthtsol, Canterbury L'arrh¢ Leighton Buzzard PCC LEPRA- 8ritish Leprosy Relief Association London Nautical School Lt Colond's Fund for Irish Guards Macmillan Cancer Support Macs Maggle's Maid5tone Hospice Marie Curie Cancer Care Marine Con5eryation Socrety Martha Trust Medical aid For Pal85tinians {MAP) Meninwtis Now Carried forward 1.250 2.500 1,000 5.000 25.000 1250 l.0( 2500 2.000 10.000 5.000 1.000 10,Of 25,0 lo.0￿) 10.000 5.000 1.000 1.000 1.000 5.000 2JOO 2.500 1.000 1.000 1.000 125.000 1.000 125.ot 256.OCX) 1.000 i o.ooo i 0.000 5.000 1.000 1.000 1.000 1.000 50.1)00 5.OG(I 26.000 1.000 1.000 1,000 10.000 1.000 1.000 20,000 i.ooo I.￿)0 I,Cv)O i.coo 7,000 2.000 15,OCII 25.000 25.000 10.oc 50.OCk) 1500 15,000 1.500 914,OCKI 1.281,357 JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2020 Analysi5 of expenditur• on charttable actlYltle5 (contlnued) 202(1 2019 Br¢*ught f¢rward 914.000 1.281,357 Menral Health Foundatlon Merton College Merton College Charitable Trust Mlgralne Trust Mind Misslon to Seafarers Murston All Saint5 Trust National Auty5tic Society National Emergen¢les Trurt CoronaYSrus Appeal National Memorial Arboretum National Rheumatoid Arthritis SoclÈty INRAS) National Trust National Trust for kotjand NEMA Foundation NSPCC Old Etonian Trust Oracle Cancer Trust Order of Stjohn for Essex OriJ¢r of StJc*hn for Kent Pancreatle Cancer UK Paula Carr Trust Pembroke College. Oxford Personal Service G￿JP Pètharn Villag¢ Hall Petty Pool Tru¥r Pilgrims Hoswccs Pilsdon at Malling Cornrnunity 1,000 5.000 i.ooo 10.000 5.000 1.000 10.000 2500 22.600 1.000 1.000 10,000 2.500 1,000 182.tXKI 10.000 1.000 1.000 1.000 2500 1.000 1.000 25.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1,000 1.000 2.500 1.000 loo.000 1,000 11,000 5.000 10.000 1.000 1,000 25.000 2,000 36.OOQ Prince's Trust Radley Foundation RAFT IRe5¢0ra¢ion of Appearance and Function Trust) Rainforest Foundation UK RDA- Cobbes Meadow Reeds School Re-Engage Re12te Medway and North Kent Riding for the Disabted . Cobbes Meadow Riverside Day Centre Dover 25.000 i.o( 5.oc 5,000 15.0 25,0￿• RNLi 5.ClJO 25,000 25,000 1.000 I,OOG 2,000 R05ernary Foundation Royal Academy of Art5 Royal Alexandra & Albert Royal Association for Deal People {PAD) Royal British Le&on Royal Hortlculrural Society Royal Humane Socpry Royal MxrsdeTr Cancer ChariLy 1,000 1.000 7.000 26.000 1.000 50,000 6.335 RSPB Rural Communiry Council of Essex Carried forward 1283.000 1,671.292 JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 Dècember 2020 Analysis of expenditurt on ch*ritable activlties (eontlnued) 2020 2019 Brought forward 1283,fJ)O 1.671.292 Saint Nichola5 Schotrl {Harlowl Ltd Salvatyon Army SaMar￿an¥ Seafarer5 UK Selling Church 8uildinp Trust Selling Parish Council Selling PCC Selling Sporrs Club Sheerness Dockp2rd Preserfttltsn Trust Shelter Shine stough fort Pre$¢rya￿on Tru$t Soil Association South Kent Mind Species Recoyery Trust 5.000 1.000 1.000 1.000 2500 5.000 2500 1.c￿0 25.c￿0 15.QOO i.ooo l.tKJO i.ooo 2,500 2.500 i.r￿0 1,000 5.¢)00 2300 i.ooo 3.QOO i.ooo 5.QOO 2300 18,000 i.ooo 5.000 i.ooo SSAFA St Andrews Healthcare St Andrew's Church. Kildwlck Sr Clare Hospice St Cuthbert's Centre St larnes Church, Melstsnby St john And St Elizabeth Charity Sc John ofleru5Iem EYÈ Hospld Group StJohn'5 Hospice St Michael and All AnzeLs Clifton Hampden SL Paul'5 CadiEdral Churisler Tru51 Standir¢£ Order To Age UK- john Swire Stour Music Sussex Historic Churche5 Trust Thames River5 Restoration Trust Together for Short tives Toynbee Hall Tru55ell Trust Turn2us (El￿beth Rnn Care) Tusk Trust UK Squirrel Accord Universty College Oxftsrd (UNW) Ver5U5 Arthrifi5 Welle51ey House And SL Peter's Court Educational Trust West Faversham C￿rnU￿1¢Y A550ciation West Wight Sports & Community Centre Westminster Abbey Foundation White Lodge Centre Wildlowl & Wetlands Trust Worshipful Company of 5hlpwrlghts Young Classical Artists Trust Zane.. Zimbabwe A National Emergency I 1.000 1.000 5.000 55,000 6.000 5.th)0 i.ooo 1.000 6,000 i 0.000 I,￿0 I.(￿0 3.tX)Q 2.(100 7,000 s,(￿0 16,000 1.000 15.000 25.000 2500 1.000 1.000 6.000 2.500 2.000 1.000 6.000 25,¢)00 25.000 2500 2.000 25.000 25,C(#) 12.5CQ I502,￿0 1.892.292 JOHN 5WIRE 1989 CHARITABLE TRUST N OT ES TO THE FI N AN C IAL ST A TEM ENTS Y•ar •nd•d 31 Décembér 2020 An￿￿1$ of expendltvre on charltable actbvltles {contlnued) 2020 2019 Total donations 1502,0th) 1,892292 ¥eit￿lKe costs dlc(oted ro ch17ntable actt¥Ytse$.' Administravon fee Consultancy costs Auditor's remuneration Management fee- land Bank Ehar 5.6￿) 43.960 1982 13241 45 3.600 47.20Q 2.922 874 50,263 54596 Total expenditure on charitsble activities 1,552,263 1.946.888 Expeftd¢wre on ¢haritable activitye5 in both year5 Vn5 attributable to th¢ unr¢strirt¢d in¢om¢ fund. Fixed asset investmtthts 2020 2019 Freehold land Market value ar eTrd of year 19.125 19.125 Quotedlunquotèd Investmènts Market value at starr ol year 43.412.842 14,197,021 13,401,W8 114.714.2461 544,046 112,287.0981 44,554,473 44.573.598 46.Q37.585 Aidditi¢bns at ¢osr Proceeds on disp<>sal Realised gain on disposal Net unrealised 1055es on investment a55e¢5 12.624.743) 43.412.842 43.431.967 Market rdlue at end of year Total Investrnents have been made in the following categories of securiti&- 2020 2019 Quoted UK equities 21.140.814 6.973.556 21.140M14 6.973.556 Unquoted UK equiue5 23.413.659 36.439.286 44,554.473 43.412.842 Icontinuedl JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO TH E FI NAN CI AL 5T A TEM E NTS Year ended 31 Drf•mbér 2020 Flxed asset investments (continued) The hi$rorital ¢ost ol Investments af 31 D¢¢¢mber 2020 vrds £27,620.498 (2019 . £14.198.8131. The unquoted investments were ordinary and preference shares of john Swire & Sons Limited. The largest investments are.. a holding of orthnary shares in John Swire & Sons Limited Valued at £22,060,321 12019 L35,084.3241 and a holding of units in Sarasin Apha CIF for Endowments at £21,111.436 (2019 £6.973.556). The charity is pardy rellant on in¥estsnent income lft the form of Interest and dlvldends generated by the Investments held. Net unreali5ed 8ain5 on investment assets of £860007 rio19 - Lnill were attributable to the unrestricted income fund. Net unrealised los$e$ on investment assets of L12,603,416 12019 - L2.624.7431 were attributable to the ¢ndowment fund. Debtors 21120 2019 Other dEbtors 11542 Creditors: amounts falling due within one year 2020 2019 Accruals and ¢Jeferred incorne Other credirars 3.013 5.218 6552 45.018 8,231 51.570 Analysls of net assets between funds Unrestrfcte Income nds Expendable Endowment funds Total 2020 Fund balan¢es as at 31 D¢¢¢mber 2020 are represented br. Investments 13.74S.047 30.828.551 44.S73,598 Cash and Debtors Cr¢dittts 1.563.008 (8.231) 1.767.337 3.330.345 18.231) Ner a55ers 15.299.824 32.595.888 47A95,712 20 JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Yéar •ndèd 31 Dèt•mbér 2020 Rtconcrliation of net movement in funds to net c￿h fl¢)w from operntlng artbvlti¢s 2020 2019 NeE movement in funds Dedurt income from invesrment5 Add losses inve5unÈnts {Detrea5eVincrease in creditor¥ Incr&ise in debtors Donation5 in specie 4,033.763 (1,904.993) 11.743,052 143.339) 112,5421 114.197.0211 1381.0801 (2.741.694) (1.829.937) 2.624.743 16.885 Net cash used in operating activities (1.930.003} Related party transactlon5 During the year john Swire & Sons Limited, a company in which the trustees have a participating interest, paid expenses on the charit￿5 behalf totalling £40,48212019 - £40,078) and was repaid funds to the value of £69,362 12019 - £28,880). At the balance sheet date, the amount due w john Swire & Sons Limited was £nil 12019 £43,678). At the balance 5hee¢ date, the amour¢t due to IAS 199S Propety Trust- Fund B. * trust In whlch I S Swire and B N Swire are rrustee5, wa5 £5.21812019 - £4.9401. The total amount of donation5 receNed from rdated parties without conditions V￿re £1.250.000. it)cluding gift aid 12019 £nill. During the year the charity received a loan of £1 00,000 P019 . £nil) from The Swire Charitable Tru5L a trust in whlch B N Swire and I S Swire are Tru%*es. The loan wa5 inter*st fre* and repayable on the demand. At th¢ balanee sheet &te the arnount owed was £nil. The charity recewed the net assets from the IAS & MCS 1961 Marriage Settlemw¢ a trust in which B N Swire was * Efu5tee 35 a Ik*nauon to(alling £14.187.281. During the year, the trustees recei¥ed no emoluments or reknbursement of ¢xpense$ lor thelr servlces (2019 - nor¢el. I l. Flnanclal ass•ts and Ilabllltl•s The lollown8 are financial assets that qualfy a5 basic financial instruments and are initÈally reco8ni5ed at their transaction value and sub5equendy rnea5ured a¢ their fair value as at ¢he balance sheet date using the c105in8 quoted market price or. lor unquoted investments, using the valuation methods in the accounting policy for Fyxed Asset Inve5trnent5'. Financial assets 2020 2019 QuoceWunquortd investment5 H,573,598 43.431.967 44.573,598 43.431,967 21