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 re￿iVed 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, proces￿3 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$ltlon
The Trustees conside￿d the financlal position to b& satislactory. There is sufficient cash, incoming
donations and investment income to meet the commrtted donations and to continue to provide support to
their chosen charitable causes.
Truste03' rospon•lbllltles In rnlatlon to the flnanclal Slatements
The Truslee5 are responsible for preparing the Trustees, report and the financial statements In
accordan￿ with applicable law and United Kingdom Accounting Standards. The law applicable to
charities in England and Wales requires the Trustees to prepare finanGial statements for each financial
year which give 8 true and fair view of the state of affairs of the charity and of the incoming resources and
application of resour￿$ 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 P￿sUme 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 p￿Par8t1On 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 requ1￿ments 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 I￿1ve 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 Info￿natIon 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 ￿qUI￿d 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 con￿rn 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 e￿or 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 ass9￿ment 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 s￿RE 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
Gon￿Ming 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 be￿een 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 be￿een 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 BU￿aU 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
Pla￿2be
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 Can￿r 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. Pete￿5 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 Endo￿nents 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