2025-12-31-accounts

2025 Account notes

Currency differential due to daily exchange rate movements in VND - USD/VND moved 3.0% over the year Currency differential due to daily exchange rate movements in VND - GBP/VND moved 9.7% over the year

Statement of Fixed Assets (Swimming Pools)	Statement of Fixed Assets (Swimming Pools)	Statement of Fixed Assets (Swimming Pools)
	US$	₤
Purchase Value	88,450	75,334
Depreciation	61,085	52,027
Estimated Present Value	27,365	23,307

31/12/2025 USD/GPB 0.851713

Accounts of Swim Vietnam

Statement of Receipts and Payments For the period from 01/01/2025 - 31/12/2025

Dedicated Funds (D) Non Dedicated Funds (N) Education Funds (ED) Donation from Social Enterprise (SE) Flood Relief Funds (FF) Bank Interest (E) Currency Impacts (G) Income	VND	US$	US$ Budgetted	₤	Funds last period 2024 ₤
	262,136,468 588,067,610 - 85,000,000 53,885,481 59,090,375 28,330,293 1,076,510,227	10,059 22,604 - 3,287 2,047 2,300 1,087 41,384	7,730 5,060 - 3,000 1,904 - 17,694	7,494 16,889 2,422 - 1,798 816 29,420	14,525 10,217 1,556 6,304 113 32,715
INCOME	1,076,510,227	41,384	17,694	29,420	32,715
Expenditure Employee Salaries Director Operations Finance Associate Salary Marketing Associate Salary Training Manager Salary Accountant Expert Manager team Income Tax Social Insurance Tet Bonus Bonus for Director Operations Bonus for Finance Associate Bonus for Marketing Associate Bonus for Training Manager Sick Pay Total Salaries Labour Expenses Staff teambuilding Employee Travel Employee Income Tax Total Labour Expenses Swim Program Expenses Pool Cleaner Salary Security Salary Swim Teacher Salary Supervisor Salary Program Transport Kids Outfits Staff Uniforms Pool Equipment Pool Maintenance Chemicals Office Certificates Marketing Website Competition Translators Support for Schools Meeting with Government Teacher Training WS Project Total Swim Program Expenses Flood Relief expenses Total Flood Relief expenses Other Bank charges Total Other Currency Bank Accounts Currency Differential Total Currency Effect*	171,392,950 81,000,000 55,420,000 53,952,000 60,000,000 58,752,000 72,516,300 7,625,000 7,110,000 2,320,000 2,850,000 500,000 573,438,250 7,000,000 10,925,891 56,571,993 74,497,884 36,000,000 6,000,000 155,280,000 30,000,000 13,500,000 15,000,000 9,620,000 19,980,000 143,716,713 79,691,400 10,153,000 19,855,436 2,510,600 9,241,731 1,000,000 - 500,000 14,335,000 15,740,000 84,120,000 666,243,880 48,000,000 48,000,000 942,568 942,568 16,743,092 - 16,743,092	6,586 3,112 2,123 2,073 2,305 - 2,256 2,825 295 275 90 110 20 22,071 274 418 2,171 2,863 1,383 231 5,916 1,142 512 570 366 767 5,541 3,066 395 757 95 353 39 - 20 549 602 3,305 25,607 1,822 1,822 36 36 644 2,330 2,974	6,840 3,240 1,584 2,158 2,400 1,045 2,268 1,634 612 270 132 200 252 22,635 360 300 1,648 2,308 1,440 240 10,584 2,440 1,404 684 417 919 4,000 2,220 1,140 100 720 150 516 50 216 936 1,500 4,500 34,176 - 120 120	4,988 2,357 1,600 1,570 1,746 - 1,710 2,235 222 207 68 83 16 16,803 216 313 1,656 2,185 1,048 175 4,395 846 379 421 271 566 4,220 2,330 307 574 72 266 29 - 16 415 455 2,618 19,402 1,391 1,391 28 28 494 3,892 4,386	5,726 3,292 2,144 2,973 315 2,913 1,500 - - - 127 18,990 250 206 456 913 616 1,447 4,059 842 938 549 333 734 2,934 1,745 888 78 57 106 407 - 170 744 1,132 106 14,585 - 11 1,326 80 2,916 2,996
TOTAL EXPENSES	1,379,865,674	55,373	59,239	44,196	38,809
SURPLUS (DEFICIT FOR YEAR TO DATE)	(303,355,446)	(13,989)	(41,545)	(14,776)	(8,158)

Notes

1. There are two: 13th month bonuses in these 2025 accounts: as last year they were paid in January and this year they were paid in Dec.

2. This year, there is not big differences between budget and expenditure

3. Income was higher because we received the donation from MAP Foundation, Stuart Turner Fundraiser, Just Keep Swimming Fundraiser and Flood Relief donation.

4. We had 2 savings account received the higher interest from the banking.

5. Pool maintenance was higher than expected due to repairs the pool system to Nguyen Du.

6. Swim Teacher Salary was lower than expected as some pools did not do swim lessons

7. The GPB had huge fluctuations in 2025 which lead to large GPB/VND currency differential

8. Supporting for family of the teachers were affected by flooding in Hoi An.

9. Employee Income Tax included Manager team Income Tax.

Accounts for Swim Vietnam Balance Sheet As at 31st Dec 2025

	VND	US$	₤
Assets 31/12/2024 Cash Vietnam Current Bank Account VND Vietnam Current Bank Account USD Vietnam Savings Bank Account (3 months) Vietnam Savings Bank Account (6 months) Vietnam Savings Bank Account (6 months-PSS funds) Vietnam Savings Bank Account (1 year-PSS funds) UK Bank Account Paypal Account Total Bank Account Total Assets 31/12/2024 Surplus (Deficit) Year to Date 2025 Assets 31/12/2025 Cash Vietnam Current Bank Account VND Vietnam Current Bank Account USD Vietnam Savings Bank Account (6 months-PSS funds) Vietnam Savings Bank Account (1 year-PSS funds) UK Bank Account Paypal Account Myriad AUS Myriad USD Total Bank Account Total Assets 31/12/2025 Total Net Assets	1,032,800 97,109,541 54,479,916 300,000,000 300,000,000 500,000,000 700,000,000 89,092,991 3,702,612 2,044,385,060 2,045,417,860 (303,355,446) 5,380,287 178,587,132 652,079 500,000,000 700,000,000 253,823,654 16,548,750 84,865,903 2,204,610 1,736,682,127 1,742,062,414 1,742,062,414	41 3,811 2,138 11,773 11,773 19,622 27,471 3,496 145 80,230 80,270 (13,989) 205 6,795 24.81 19,023.78 26,633.29 9,657 630 3,229 84 66,077 66,281 66,281	32 3,040 1,706 9,392 9,392 15,654 21,915 2,789 116 64,005 64,037 (14,776) 152 5,050 18 14,138.83 19,794.36 7,177.54 467.96 2,399.81 62.34 49,109 49,261 49,261

Signed by one of the Trustees on behalf of all of the trustees

Signature	Print Name
	JOANNE STEWART
Date of Approval 5/3/2026
Date of Approval
5/3/2026