JOHN SWIRE 1989 CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2024 Charity number: 802142
JOHN SWIRE 1989 CHARITABLE TRUST IN DEX Year ended 31 December 2024 Page General infonnalion Report ofthe trustee8 Auditors, report Statement of flnancial activities 8alance sheet 10 statement of cash fl¢)WS Notes to the financlal statements 12
JOHN SWIRE 1989 CHARITABLE TRUST GENERAL INFORMA TION Yearended 31 Doc8mber 2024 Establlshed by deed 7 September 1989 Charlty number 802142 Trustoos J S Swire BNSWI W Leigh-Pemberton Power to appoint new Trustees was vested in the settlor during his lifetime and Ihereatter in the Trustees provided that there are always al least three Trustees. Settlor SSr John Swire, CBE Ideceasedl Trust fund £100. further settlernents, accumulation of income, c8pilal accretion or otherwi8e and all property representlng the same. Objects Such charitable object5 as the settlor shall in WTiliTrg direct or in default of direction as the Twstee8 shall from time to time determine. Accumulatlon DuTing the period of 21 years from the date of the trust deed, the Trustees had power to accumulat8 the whole or any part of the income of the Trust Fund. Power to retsln The Trustees have power to retain any John Swire & Song Limited 8hare8 comprised in the TnJ8t Fund. Investment Powers ol investment 88 an ab801ute beneficial owner. Investhient manager• Sarasin & Pathers LLP Juxon House 100 st Paul's Churchyard London EC4M 88U Banknrn Coutts & Co 440 Strand London WC2R OQS Audltorn Dixon 1Offjlson Audll Services LLP 22 Chancery Lane London WC2A 1 LS Address Swire House 59 Buckingham Gate London SW1 E 6AJ
JOHN SWIRE 1989 CHARITABLE TRUST REPOR T OF THE TRUSTEES Yoar ended 31 December 2024 The Trustees present their report and finanaal statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set OLrt on note l of the financial slalements and with the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. This report should be read in conjunction with the information included in page 2. Structuro, governanc• and managem•nt The Trust is an unincorporated charity, conslrucled under a trust deed dated 7 September 1989 and is a r8gi51ered charity. nvrnber 802142. In accordance with the Trust deed. the minimum number of Trustees is three. The power to appoSnt new Trustees 15 vested in the Tnjstees. If al any time there remain only Trustees, the remaining Trustees must appoint another Trustee, $0 that a rninimum of three Trustees is maintained. Responsibility for the induction of 811 new Trustee5, whith involve5 awareness of the history and approach of the charity and an understanding of a Trustee's duties, lie$ wtlh the Chair. New Trustees reGeive detailed infomialion about the charity's governance, grant making. and financial position, including copies of Charity Commission guidance for Iruslees, the charity's goveming document, and the annual report and accounts. The Trustee8 are directly responsible for the management of the charity. The Trustees agree the charity's gtralegy. review and approve donations and grants, and oversee Ihe charity's govemance, including the investment, reserves, and risk management policies. which are reviewed annually. The Trust deed provides the Trustees with broad powers to Greate polices to support the management, governance, and administration of the Gharity. Grant maklng policy The TruBtees hold meetings four ts'mes a year to consider grants and donations. Proposals for all grants are considered by all Tru51ee5. The charity does not run open funding programmes or encourage unsolicited applications. Most potential grant holderg are initially identified by the Trustees. Due diligence is then undertaken by a small team on behalf of the Trustees before grants are agreed. Organisations seeklng funding are usually required to submit a request explaining how funds would be used and what would be achieved. All requests for funding are Managed online. ObJectlve8, actlvitles and a¢hlev•ment• for the publlc b•Doflt The Trust Deed contains broad charitable objects which allow the Trustees, in Iheir discretion, lo pay or apply the income and. if agreed. the capital of the Trust Fund lo or for the benefit of any charitable bodies, trusts, associations, instrtulion5 or organisation5, a5 they see fil. During the year the charity has been able to continue to make donations and grants totalling £3,196,223 {2023 - £3,011,156). Grants awarded by the John Swire 1989 Charitable Trust reflect the interests of the SetUorf5 family and the Trustees. In 2024, areas of focus for the charity's grant-making included support for the welfare of marginalised or disadvantaged individua15 or communities. initiatives lo help young people not in education, employment or training to thrive, and environmental projects, including habitat conservation and restoration. fresh water and marine conservab'on, and local engagement with nature and the environment The charity also ha5 a geographic focus to its grant making. with a particular interest in Kent and the Isle of Wight. In 2024. the charity supported charities in Kenl dI¢t and through a funding programrne deltvered on behalf of the Trust by the Kent Community Foundation. Several charities operating on the Isle
JOHN SWIRE 1989 CHARITABLE TRUST REPOR T OF TH E TRUSTEES Year ended 31 December 2024 of Wight also reiVed grants direct or through a funding programme delivered by the Hampshire & Isle of Wight Community Ftsundation on behalf of the Trust. The Trustees, having regard to the public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity sab'sfy the requirements of the public benefit test set out in section 4 of the Same Acl. Investment pollcy and porformanc¢ Under paragraph 5.2 of the Trust deed the Trustees have power to relain shares in John Swire & Son5 Limited. and are not under any duty to diversify to the extent that the Trust Fund comprises those shares. The Trustee8 have also noted the statutory duty of care required by the Trustee Act 2000, in relation to their holding suitable investment5 and the need for diversification of investments so far as is appropriate to the circumstances of the charity. The Tru$lee8' overall Investment objective is to achieve a level of investment income growth which al least malcheg the rate of inflation, while protecting the value of the charity's capital in real terms. The Trust's inve8tmenls are held in the Sarasin Endowments Fund, which aims lo provide lang-tem charity invegtors wilh a sustainable income, while mainlaining the re81 value of the capital and income for the future. The fund integrates ESG screening crrterla to en3ure the stewardship of funds in a re8pon8ible globally diversified portfolio. The listed investment portfolio perfom)ance managed by Sarasin & Partners was 12.2% 12023 - 8.6%) against their benchmark gf 14.3UA 12023 - 11.9%). Income from unlisted investment8 wa8 £2.159,410 in 202412023 - £2,017,097). The Trustees Cognise that particular inve8tmenl risks arise from lack of diversiffcalion where subslantial holdings in unquoted companie5 are donated lo the chanly and retained. The Trustees seek lo mitigate the risks through their board repre8enlalion. as well as by the regular monitoring of such investments on receipt of published financial information. Key management pernonnel remun8ratlon The Trustees con3ider the board of Trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and operating the charity on a day-to-day basis. All Trustees give their time freely and no Trustee remuneration or expense reimbursernents were paid in the year. The day-to-day operation and administration of the Charity is delivered by a small team within John Swire & Sons Limited. Rlsk management The Trust's Risk Register identifies potential risks in key areas, Specifically financlal rlsks, govem8n¢e, grant making and operations, and reputation. Currently, the principal risks faced by the charity lie in the performance of its investmenls and risks from ineffects.ve grant making. The major risks to which the Trust may be exposed. as identified by the Trustees, have been reviewed and, where appropriate, proces3 and 6yStems have been put in place to mitigate those risks. The variability of quoted investment retums is a major financial risk. The Trustee5 miligale Ihis risk by retaining expert investment advisors and having a diversified investment portfolio where possible. The risk of ineffective granl-making is mitigated by carying out research on charitable institutions to establish whether potential danationg will be used effectively and in furtherance of this charity's own objectives.
JOHN SWIRE 1989 CHARITABLE TRUST REPOR T OF THE TRUSTEES Yearended 31 December2023 Reserves policy The charity was created in 1989 with a fund intended to provide a regular level of income which could be distributed lor a wide variety of charitable purposes 11 is the TTUStees' policy not lo retsin reserves as the charity's overheads are low and any deficit on the unrestricted fund can be met from transfers from the endowment fund at the discretion of the Trustees. At the balance sheet dale the balance on the unrestricted SerVeS was £710,17112023- £718.0391. Flnanclal po$ltlon The Trustees consided the financlal position to b& satislactory. There is sufficient cash, incoming donations and investment income to meet the commrtted donations and to continue to provide support to their chosen charitable causes. Truste03' rospon•lbllltles In rnlatlon to the flnanclal Slatements The Truslee5 are responsible for preparing the Trustees, report and the financial statements In accordan with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare finanGial statements for each financial year which give 8 true and fair view of the state of affairs of the charity and of the incoming resources and application of resour$ of the charity for that period. In prepanng these financial slalemenls, the Trustees are required to.. select Suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP., make judgements and accounting estimates Ihal are reasonable and prudent., State whether applicable accounting standards have been followed. subject to any departures disclosed and explained in the financial 8talernen18', and prepare the financial statements on the going concem ba815 unless it is inappropriate to PsUme that the charity will continue in business. The Trustees are responsible for keeping accounting record5 which di8dose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial slalemenls comply with the Charities Act 2011, the Charily (Accounts and Reports) Regulation9 2008 and the provisions of the Trust deed. They are also respon8ible for safeguarding the assets of the charity and hence for taking reasonable steps fo revenlion and detection of fraud and other irregularities. B N SIMRE For the Tnjs
JOHN SWIRE 1989 CHARITABLE TRUST AUDITORS REPOR T Year ended 31 December 2024 INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE JOHN SWIRE 1989 CHARITA8LE TRUST Opinion We have audited the financial statements of the John Swire 1989 Charitable Trust {the 'charity'l for the year ended 31 December 2024 which comprise the statement of financial activitiès, balance sheet, statement of cashflows and notes to the financial ststernents, including a summary of 3ignificant accountsng policies. The financial reporting framework that has been applied in their pPar8t1On is applicable law and United Kingdom Accounting Standards. including Financial Reports'ng Standard 102 The Financial Reporting Standard applicable in the UK and RepubliG of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial statements.. glve a true and fair view of the st81e of the charity's affairs as at 31 December 2024 and of Its incoming resources and appliGaty'on of resource8 for the year then ended,. have been properly prepared In acGordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance wilh the requiremen18 of the Charitie5 Act 2011. Basls for oplnlon We conducted our audit in accordance with International Stsndards on Audibng {UKI IISAS IUK)) and applicable law. Our responsibilities under those standards are further de5cnbed in Ihe Auditor's responsibilities for the audit of the financial statements Section of our report. We are independent of the chanly in accordance with the ethical requ1ments that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audrt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluglons relatlng to golng concern In auditing the financial statements, we have concluded Ihal the trustees, use of the going concern basis of accountsng in the preparation of the finanaal Statemenls is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least I1ve months from when Ihe financial statements are authorisad for Issue. Our responsibilities and the ffjsponsibilitie$ of the trustees with respect to going concem are described in the relevant sections of this report. Other informatlon The other InfonatIon comprises the infomiation induded in the annual report. other than the financial ststemenls and our auditorfs report Ihereon. The trustees are responsible for the other information. Our opinion on the financial statements doe5 not cover the other infomiats'on and we do not express any form of assurance condu5ion thereon.
JOHN SWIRE 1989 CHARITABLE TRUST AUDITORS REPOR T Year ended 31 December 2024 In connection with our audit of the financial statements, our responsibilty is to read the olher infomiation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheNiise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are qUId to detemiine whether there is a material misstatement in the financial slatements or a material misstatement of the other infomiation. If, based on the work we have perforyned. we conclude that there is a material misstatement of this other infomialion, we a required to report Ihat fact. We have nothing lo report in this regard. Mattors on whlch we are required to report by exceptlon We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report lo you if. in our opinion.. the information given in the finanaal statements Is Inconsi5t8nt in any material respect with Ihe trustees, report., or 8uffiGient accounting records have not been kept,. or the financial statements are not in agreement wth the accounting records., or we have not received all the information and explanations we require for our audit. RMponilbllltie8 of tru•tee¥ As explained more fully in the trustees, responsibilities statement sel out on page 5, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give 8 true and fair view. and for such internal control as the trustees determine 15 necessary lo enable the preparats'on of finanGial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the tharity's ability to continue as 8 going concem, disclosing, as applicable, matters related to going conrn and using the going concem basis of accounting unless the trustees either intend to liquidate the charily or to cease operations, or have no realistic alternative but lo do so. AudltoV$ regponslbllltlel for tho audlt of the financial 8tst•ments We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulaliofis made or having effect thereunder. Our objectives ar& to obtain reasonable assurance about whether the financial statements as a whole are free from material mi$5tatement, whether due to fraud or error. and lo issue an auditor's report Ihat includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an oudil conducted in accordance with ISAS IUKI will alway5 detect a material misstatement when il exists. Misslalements can arise frorn fraud or eor and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of user5 taken on the basis of these financial statements. Irregularities, induding fraud. are instances of non-compliance with law5 and regulations. We design procedures in line with our responsibilities. outlined above, to detect material mi5Stalements in respect of irregularities, induding fraud. The extent to which our procedures are Capable of detecting irregularities. including fraud is detailed below.
JOHN SWIRE 1989 CHARITABLE TRUST AUDITORS REPOR T Year ended 31 December 2024 We gained an understanding of the legal and regulatory framework applicable to the charity by considering, amongst other things, the sector in which it operates. and considered the risk of acts by the charity that were contrary to applicable laws and regulations, induding fraud. We designed audit procedures to respond to the assessed level of risk but recognised that the risk of not detecting a malefial misgtatemenl due to fraud is higher than the risk of not detecting one resulting from error, as fraud May involve deliberate concealment by, for example. forgery or intentional rnisrepresenlations, or through collusion. We focused on laws and regulations which could give rise lo a material misstatement in the financial ststemenls, including, bul not limited lo the Charities Act 2011. Our lesls included agreelng the financial statement disdosures to underlying supporting documentatS0n, enquiries with management and enquiries of third parties. As in all our audits, we also addressed the risk of management override of internal control8, including testing journals and evaluating whether there wa8 evidence of bias by management that repre$enled risk of material misslalement due to fraud. There are inherent limitation8 In the audit procedures described above and, the further removed non- compliance with laws and regulatsons is from Ihe events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matt8r5 relating to irregularities, including fraud. A further description of our responsibilities for the audit of the financial statemenlg is located on the Financial Reporting Counril's website at.. www.frc.org.uklaudilor8responsibilitie$. This desrAiplion fomis part of our auditor's report. Use of our report This report is made solely to the charity's trustees, as a body. in accordance with regulations made under section 154 of the Charities Ad 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required lo slate lo them in an audrtor's report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the Gharily and the charity's trustees 89 a body. for our audit work, for this report, or for the opinions we have formed. - >J,(kn Aa,Èfv> LLP Dixon IMlson Audit Services LLP, Statutory Auditor 22 Chancery Lane London WC2A 1LS Date.. ..a.Qoiober. 2Q2&. Dixon Wilson Audit Servicas LLP is &ligible to act a$ an auditor in temis of section 1212 of th• Companies Act 2006.
JOHN SWIRE 1989 CHARITABLE TRUST ST A TEM ENT OF F INANCIAL ACTIVITIES Year ended 31 December 2024 2024 2023 Unrestrl¢ted Expendablg Income Endowment fund fund Nots Total Total Income and endowments from: Donations Investments 425,000 3,285.017 3,268,916 3,285,017 3,693,916 3,285,017 Totsl Incoffllng resourc05 3,285,017 Exp•ndlture on: Raising funds Charitable activities 99,324 99,324 89,326 3,292.88S 3, 102,667 3,392,209 3,191,993 3,292,885 3,292,885 Total oxpendltur• 99,324 Net gains on investments N•t laxpendlturolllncome Net movefflent In fund• 12,012,393 12,012,393 3,060,172 17,8681 11,913,069 11,905,201 3,562,095 17,8681 11,913,069 11.905,201 3,562,095 Reconclllatlon of fund•: Fund balance brought forward at 1 January 2024 718,039 69,616,967 70,335,006 66,772.911 Fund balance carried forward 8131 December 2024 710,171 81,530,036 82,240,207 70,335,006 All amounts are in respect of continuing activllles.
JOHN SWIRE 1989 CHARITABLE TRUST BALANCE SHEET At 31 December 2024 2024 2023 Note FIX a•8•ts: Investments 80.517,930 68,748,956 88,748.956 80,517,930 Current a$••ts: Debtor5 CaBh at bank ArKI In hand 29.825 1.792.584 110,602 1,586,222 1.822.409 t,69fj,824 LlabllltlM: Creditor8'. Amounts fBlllng due wlthin one year Net ¢urrnnt a••ots 1100,1321 (110.774) 1.722,277 1,586.050 Total ai•el* le¥B currqnt Ilwbllltl•• 82,240,207 82,240,2D7 70.335.008 Net u•at• 70,335,006 The fundo of th• ¢h•rlty'. Expend8blB endowment fund8 Unrestrlcted incom8 fund8 81,530,036 710,171 82,240,207 69,616,967 71a039 70,335,006 The finanaal ststernents on pagè8 9 10 21 were approvod by th• boaThl of tru8tee8 on 2025 and were signed on ItB behalf by.. BNSWRE Trustee 4 . 2Z)Z 10
JOHN SWIRE 1989 CHARITABLE TRUST ST A TEMENT OF CASH FLOWS Ye*r ended 31 Oec¢mb•r 2014 2024 Total 2023 Total Not• Net cash utsed in operating activlties 13,322,074) (2,983,044) Cash Ilows from Invesllng e¢livitlos.' Interest and dividend8 3,288,017 3,268,916 Purchasa of inve8tm•nts 11,482,100) (1, 122,836) Dlspoval of Inve$lm8nts Nat ca•h provided by Inv•$lng advltles 1,705,519 3,528.438 2,146,080 Ch8rwJe In cash ond cash equival8nt• C8th and cash equivalents brought lo&r Cash and ca8h 8quival8nt8 carried forward 206.362 1,586,222 1.792,584 r836,964) 2,423, 186 1,586,222
JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 Accounting pollcl¢$ (a) Basls of preparatlon and ass9ment of golng concem The financial statements have been prepared under the hi5tOriC C05t convention, wllh the exception that investments including fre8hold land a included at marffet value. The financial statements have been prepared In accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities prepanng their accounts in accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland (FRS 1021 effective from 1 January 2019 and the Charities Act 2011. The financial statemènts arè presented in pounds sterling which is the funcllonal currency of the TTUSt and rounded to the nearest £. The trust nstItuteS a public benefit enllty as defined by FRS 102. The trustees consider that there affj no matèrial uncertainties about th8 Trust's ability lo continu8 as a going concem. There are no signifieant are8s of adjustm8nl and key assumptions Ih818ffecl items in the accounts. Imlh rèspect lo the next reporting period, the most slgnificant areas of uncertainty that affect the carying value of assets held by the Trust are the level of investment retum and the perfomian¢o of investment markets (see the risk managèment seelion of the Iruslees, annual report for more information). Funds structure The charlty has an expendable endowment fund created by a gift. The Income of this trust is unrestTiCted. The terms of the 8ndowm8nl allow the capltgl of the fund to be spent if the Irusteos sts d818nrlne. Unrestricted Income funds comprise those funds which the Iruslees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, al their discretion, have created a fund for 8 specific purpose. Income rocognltlon All income is recognised once the charity has enliuement to the income, it Is probable that the income will receivad and amount of Incorne receiv8ble cBn be rneasured reliably. Donations are recounisad when the Trust has ba8n notified in writing of both the amount and settlement date. Interest on funds held on depo8lt is included when receivable and the amount can be measurad rellably by the charity,. this Is normally upon notiflcalion of tho interest P81d or payable by the bank. Dividend$ are recogni$ed once the dividend ha5 been declared and the nolificalion has been received of the dividend due. This is normally upon notification by the investment advisor of the dimdend yield of the investment partfolio. (d) Expgndlturg rgcognition Liabllllles are recognised as expendlluré as soon as there Is a legal or conslrucllve obligallon commilling the chanty lo that expenditure, il 15 probable that settlement will be required and the amount of the obligation can be measured reliably. Grants payable are payments made to third parties In the furtherance of the charitable objects of the Trust. This is accrued once the reclpienl has been netified of the grant award. (e) Irrecoverable VAT ITrecoverable VAT is charged against the expenditure heading forwhich it was incurred. In Costs of ralslng fund8 The costs of generating funds consist of investment management fees. Igl Support and governancè costs The Charity doe5 not incur support costs. Governan costs cDmprise all costs involving the public accountability of the charity and its compliance with regulab'on and good practice. Govemance sts relate lo charitable activitie5. 12
JOHN sRE 1989 CHARITABLE TRUST OTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 Accounting pollcles Icontinuedl Flxed asset Investments Investrnents are a fami of basic financial instnjmenl and are initially recognised al their transactlon value subsequently measured al their fair value as al the balance stteel dale using the closing quoted market pnce. The ststement of finaneial aclivities ineludes the net galns and losses arlsing on revaluation and disposals throughout the year. The Trust does not acquire pul options. derivatives or other complex finanrAal instruments. The main form of financial risk faced by the charity is that of volatslity in equity markets and investment markets due lo wider economic conditions, the attitude ol inveslofs to investrnent ri8k. and Changes in $?ntiment GonMing equities within particular sector5 or sub 5ector¥. John Swire & Sons Limited ordlnary shares are valued at the maximum prS¢e that can be applled to sales botwe8n 5har8holders. The price is proposed al the Annual General Meeting of the company by the board of directors and is approved by the shareholders. It Is calculated based on a dlvldond ylald Calculatlon and rovlow of comparable quoted companies. John Swire & Sons Limited preference shares are valued on a daily bas18 by dlvidlng the coupon by the av8rag8 yleld of comparable quoted compan18S, SC8led down to account for the shares being unllsled. Freehold land 18 inits'811y measured transaction value and Subsequently measured at their falr value a8 at tha balance 8heet date. Investmont galn8 and108so8 All gains and losses are induded nel in the Statement of Financial Activities as they arise. Realised galn8 and losses on inve5trnents are calculated aB the dlfference beeen sales proceeds and their opening carying value or their purchas8 valu8 if acquirad subsequent to the first day of the financial year. Unfealised gains ar 1058es aTe calculated as the difference beeen the fabr value at the year end and Ihair carrying value. Realised and unrea115ed investment galns and losses are combined in the Slalement of Flnancial Acllvilies. Donatlons and legacl•* 2024 2023 Cash donations Gift Aid 340,000 85,000 425,000 All donations were attributable to the Expendable Endowment Fund. Investment Income 2024 2023 Investrnenl income comprises.. Income from unlisted securities Income from listed securities Interest on cash deposits Rental incorne 2,159,410 1,054,306 71,301 2,017,097 1,194,733 57,624 62 3.285.017 3,268,916 Investment income in both years was attributable to the Unrestricted Income Fund.
JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 Analysls of expenditure on charitsble a¢tlvllle8 The charity did not undertake any activity directly but met its charitsble purposes by making donations and grants. Grants made lo charitab18 institutions.. 2024 2023 Action for Me Alr Arnbulanc8 Charity Kent, Surrey, Sussex All Saints Church Almshouse A¥sociation Amphibian and Reptile Conseryation Artists, General Benevolent Institution Atlanb'c Salmon Trust Bam Owl Trust Beaver Trust Be Change Big Blue Foundation Blue Marine Foundation Borde Hill Garden Breaking Barriers Bristol Owners Heritage Trust British Red Cross Broadstairs Folk Week Brogdale Collection BTO, British Trust for Ornithology Buglife- The Invertebrate Conservation Trust Bumblebee Conservation Tru8t Butterfiy Conservation Campaign Against Living Miserably ICALMI Campaign to Protect Rural England ICPREI Cancer Research UK Canterbury Archaeological Trujt Canterbury Choral Society Canterbury Citizens Advic8 Canterbury Festival Canterbury Umbrella Centr8 Carefree Carers First Cartoon Art Trust Limited Catching Lives Changing Faces Chelse8 Physic Garden Company Citizens Advice BUaU in Swale Clean Rivers Trust 10,000 12,000 10,000 11,000 25,000 1,000 31,840 1.000 1.500 1,000 1.000 45,000 1,000 1,500 1.000 50,000 26.676 3,000 26,026 50,000 40,000 20,000 1,000 100.000 10,000 15,000 28,687 35,000 52,724 25,000 30.000 1,000 22,000 29,687 50,000 25,000 1,000 1,000 20,000 1,000 20,000 1,000 2,000 25,000 20.000 10,000 30,078 10,000 48,600 5,000 35,000 15,000 27,343 15,000 45.000 7,500 27.900 I,LlOO tO,Q( 552.796 2,000 10,000 632,265 Carried forward 14
JOHN SWIRE 1989 CHARITABLE TRUST OTES TO THE FINANCIAL ST A TEMENTS Year ended 310ecember 2024 Analysis of expendlture on charltsble activities l¢ontlnuod 2024 2023 Brought forward 632,265 552, 796 Cleanupuk Combat Stress Communigfow Community Food Initiatives North East Conservation Collective Comwall Wildlife Trust Countryside Alliance Foundation Creek Creative Crundale & GodmeTsham PCC Deal Music and Arts Demelza House Children's Hospice Denlaid The Dental Charity Douglas Swire Memorial Hall Down'¥ Syndrome Association Dungeness Bird ObseNation Trust Dutham Wildlife Trust Durrell Wildlife Conservation Trust- UK East Kent Education Business Partnership Ltd East Kent Hospitals Charity East Kenl Schools Together EcobiTmingham EGG Engage Grow Go Ehas IEdenbridge Holiday Activits'es Scheme) Engineering Development Trust Enthum Foundation Essex and Suffolk Rivers Trust Essex Boys & Girls Clubs E88ex Yeomanry Association Faversham Assistanc£ Centre IFACEI Faversham Municipal Charities 2010 Faversham Society Firsilight Trust Folkeslone Leas Lift Company Friends of Kent Churches Future Trees Trust Game & Wildlife Conservation Trust Garden Museum Gasp Motor Project Global Feedback Ltd Hampshire & Isle of Wight Air Ambulance Harnpshire & Isle of Wight Ccffimunity Foundation Hampshire & Isle of Wght Wildlife Trust Hands of Hope Carried forward to.000 15,000 10,000 9,000 24,396 32, 134 65,375 100.000 2,500 10,121 1,000 1,000 10,000 25,000 30,000 10,000 25.000 5,000 75,000 75,000 11,000 85,000 5,000 10,000 20,000 6,000 5,000 22,136 t5,000 20.000 1,000 1,000 6,000 20,000 2,500 50,000 20,000 1.000 10,000 50,000 1,000 20,000 40,000 1,000 7,000 20,000 2,500 so,000 1,000 15,000 1,000 20,000 10,000 60,000 40,000 10,959 10.000 10,000 1,204,265 1,171,017 15
JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 Analysis of expenditure on charltable activities {continuedl 2024 2023 Brought forward 1,204,265 7,171,017 Heart of Kent Hospice Hebridean Whale & Dolphin Trust Help Musiraans UK Hope For Tomorrow Hounslow Education Business Charity IMAGO Community Independent Arts Irish Guards A550ciatlon Isle of Wight Food Bank Joint Activities & Motor Education Service (JAMES) Juvenile Diabetes Research Foundation Keep 8rit3in Tidy Kent Association for The Blind Kent Cornmunity Foundation Kent County Organists Association Kent Refugee Action Network (Kranl L'Arche Leadership Through Sport and Busine55 Leighlon Buzzard PCC Little Gate Farm London Museum ofwater & Steam Lower Hardres and Nackington Village Hall Maidslone Hospi Marine Conservation Society Merton College Morecambe Bay Partnership Nadiya North Wales Imldlife Trust Nottinghamshire Wildlife Trust OASIS Domestic Abuse Service Old Etonian Trust Order of St John for Essex Organic Research Centre Oswin Projects Painters Forstal Communlty Associallon IPFCAI Paula Carr Trust Permaculture Association (Britionl Personal Service Group Pelham School Parenl Teacher Association Pie Factory Mu51 Pilgrims Hospi¢es Pla2be Plan International UK 5.000 35,207 5,000 1,000 5.000 30,000 32.521 20.000 1,000 15.000 23,010 1,000 30,000 1,000 200,000 1,000 20,000 10.000 30.000 1,000 272,380 20,000 ID,000 20,000 1,000 16,182 30,000 1,000 10,000 2,000 30,000 5,000 2,000 30,000 5,000 20,000 1.000 30,000 50,000 25,738 1,000 I,ooo 21,728 30.000 7,500 1,000 40,000 t,(XJO 1,000 35,000 20.000 5.000 5,t)00 50,000 50,000 2,059.531 Carried forward 1,633,017
JOHN SWIRE 1989 CHARITA8LE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 Anatysis of expenditure on charitable activities Icontlnued) 2024 2023 Brought foTward 2,059,531 1,633,017 Plant Heritage Planllife International Porchlight Positive View Foundation Ramsbury and Axford LCC Raybel Charters RDA- Cobbes Meadow Reed's School Rising Sun Domeglic Wiolence & Abuse Service Rochester Cathedral TTUSt Roundabout Ltd Royal Sociely for lh8 Proleclion of Bird$ RSPB Scotland Rural Community Council of Essex Sage Gateshead (North Music Trust) Samphire Sandwich Bay Bird ObseNation Trust Saleda Ltd Scotland.. The Big Picture Seawilding Second Chance Medway Community Centre Selling PCC Selling Sports Club Sheppey Mallers Shropshire Wildlrfe Trust Somerset Wildlife Tru9t Songbird Survival South East Rivers Trust South Wght Area Youth Partnership (Sway) Spear 8ristol Species Recovery Trusl Speech & Language UK st Andrews Church, Kildwick St Gregory & St Martsn, Wye St John of Jerusalem Eye Hospital Group St Mary the Virgin Church Fumeux Pelham St Mary's Church {Harlow} Still Waters Storeroom 2010 Stour Music Festival Sunlight Oevelopment Trust Tandem Darlington Teenage Cancer Trust Thanet Community Development Trust 70,000 25,000 50,000 50,000 15,000 5.000 5,000 37,000 1,000 1,000 70,000 75,000 1,000 1,000 25,000 59.144 39,473 42,000 1,000 25,000 20.000 15,000 13,000 35,500 60.000 42.000 5.000 2,500 1,000 21,567 50,000 2, 500 1,000 109,000 35,000 12,735 44,915 9,000 10,000 15,000 6.600 1,000 1,000 yo,000 5,000 1,000 5,000 15,000 5,000 10,000 17,500 7,500 10,000 8,250 5.000 16,833 15,000 23.215 21.321 Carried fonNard 2,574.875 2,284.226
JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Yearended 31 December 2024 Analysis of expenditurn on charitable a¢llvltles (continuodl 2024 2023 Brought forward 2,574,875 2,284,226 Thanet Countryside Trust The Amber Foundalion The Big Cat Sanctuary The Blackthorn Trust The Caldecott Foundation The Comrnon Room ofthe Great North Ltd The European Nature Trust The Froglife Trust The Green Team (Edinburgh and Lothiansl Ltd The Junction Foundation The LifeB¢ape Project The Royal Marsden Canr Charity The Sports Tru8t The Wheels Project The Young Lives Foundation Thinkforward UK Tyne Rivers Trust Ulster Wldlife Trust University College Oxford Wemchild Wellesley House and St. Pete5 Court Educational Trust Wessex Rivers Trust West Horsley Place Trust West Wght Sport8 & Community Centre IAthitstable Maritime Idfowl & Wetland8 Trust I) Imlliam Robinson Gravetye Charity filtshire Wildlife Trust Woodland Trust Worcesl8r3hire Wildlife Trust Workingrite CIC Yorkshire Dales Millennium Trust Young Classical Artists Trust Total donations 10,000 20,000 3,000 30,000 to,000 22,500 50,000 35,000 50,000 20,000 20. 000 30,000 20.000 20,000 50.000 56.734 30.000 15,000 30,000 25,000 24,081 50.000 27,000 30,000 25,000 50,000 2,500 5,000 1,000 12,000 50,000 50,000 27,500 5,000 73,033 15.000 fO,821 39,585 50, 000 75, 000 30,000 53,524 25,000 3,011, 156 50,000 20,000 3,196,223 Govemance wsts allocated to ch8ri18ble artiviti8S.' Administration fee Consultancy co8t8 Auditols remuneration Management fee- land Bank charges Sundry fees Professional fees Contraclor fee Fertiliser fees 1,630 89.854 3,740 388 103 514 32 230 171 86,881 4,380 250 96,662 91,511 Total expenditu on Charitable activities 3,292,885 3,102,667 Expenditure on charitable activities in both years was attribulable to the Unrestricted Income Fund. 18
JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 Fixed asset investments 2024 2023 Freehold land Market value at end of year 19,125 19,125 Quotedlunquoted Investments Market value at start of year Additions at cost Disposal proceeds Net realised gains1{losse8) on disposal Net unre81ised gainsl(10gsesl on investment a89 Market value at end of year Total 68,729,831 1,462.099 {1,705,5181 433.686 11,578,707 80,498,805 80.517.930 64,546.823 1, 122,836 3,060,172 68,729,831 68,748.956 Investments have been made in the following categories of securities.. - Quoted investments Unquoted investments 29,882,077 50.616,728 27, 780,478 40,949,353 80,498,805 68, 729,831 The historical c08t of investments at 31 December 2024 was £34,927,56812023- £34,737,301). The unquoted investments were ordinary and preference share5 of John SWI & Sons Limited. The largest investments are a holding of ordinary shares In John Swire & Son8 Limited valued at £48,675,385 12023 - £39,072,011) and a holding of units in Sarasin Alpha CIF for Endonents at £29,882,077 (2023 - £26,518,321). The charity is partly reliant on investment income in the fom of Inte$t and dividends generaled by the investrnents held. Nel unrealised gain on Investment asgetg of £11,578,70712023 - gain8 of £3,060,172) were attributable to the Endownent Fund. Debtorn 2024 2023 other debtors 29.825 110,602 19
JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Yearended 31 Decombor 2024 Creditors: amounts f•lllng due wlthln one year 2024 2023 Ac¢yuals and deferred income Other creditors 3,740 96,392 100,132 14.474 96.300 110, 774 Analy81$ of net a8gets b•tw••n fund• Unre8trlcted Income fund• Expendablo Endowment fund• Tot•1 2024 Fund balances a8 at 31 December 2024 are represented by: Investments 80,517,930 80.517.930 Cash and Debtors Creditor8 810,303 1100,1321 1,012,106 1,822,409 1100,132) Net assets 710,171 81,530,036 82,240,207 Reconcillatlon of net movement In funds to n•t cash fl¢)w from op•ratlng actlvltles 2024 2023 Net movement in fundg Deduct income from investments Deduct gains on investments Decraase in creditors Decreasel{increa8el in debtor8 Net cash used in operaling aclivilies 11,905,201 3,562,095 13,285,017) (3,268, 916) 112,012.3931 (3,060, 172) 110,6421 (128,828) 80,777 (87,223) 13.322,0741 (2,983,044) 20
JOHN SMRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2024 10. Related party transa¢llons During Ihe year John Swire & Sons Limited, a company in which the trustees have a participating interest, paid expenses on the charity's behalf totalling £96,378 (2023 - £91,082) and was repaid funds to the value of £96.378 (2023 - £91,082). At the balance sheet dale, the amount due to John Swire & Sons Limited was £96.378 12023 - £91,082). During the year Swire Charitable Trusl, a trust in which J S Swire and B N Swire are trustees, paid donations on the charity's behalf of £nil12023 - £nill and was repaid funds to the value of £nil (2023 - £110,000). At the balance sheel date. the amount due to Swire Charitable Trust was £nil12023- £ nill. At the balance sheet date. the amount due to the th4S 1995 Propety Trust- Fund B, a trust In whlch J S Swlre and B N Swlre are trustees, was £1412023 - £5,218). During Ihe year, the charity racelvod uncondltlonal donatlons Irom family members of the Trustees of £nll, 12023 £425.0001 including gift aid. During Ihe year, the trustee¥ received no emoluments or reirnbursem8nt of expenses for their seryice$12023 - £nill. 11. Flnanclal a•¥ets and Ilabllltles The following are finanThal assets that qualify a$ basic financial instrumenls and are initially reGogni$ed at Ihelr transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price or, for unquoted investrnents, using the valuation Methods in the accounting policy for Fixed Asset Investment5: Financlal a88ets 2024 2023 Quotedlunquoted investmentg 80,498,805 68, 729,831 80.498,805 68, 729,831 21