THE WATCHES OF SWITZERLAND GROUP FOUNDATION
Latest income
£828k
Latest spending
£1.5m
Registered
2021
Accounts read
FY2025
Financial health, per its FY2025 accounts
The accounts state that total unrestricted funds decreased from £2,424,943 to £1,751,008 due to a net expenditure of £673,935, driven by charitable grants exceeding incoming donations. The Trustees report that the charity has net assets and no material uncertainties regarding its ability to continue as a going concern for at least twelve months.
What the accounts disclose
Related-party transaction: Donations from Watches of Switzerland Company Limited
“During the year, Watches of Switzerland Company Limited commited donations totalling £811,777 (2024 - £1,500,000). Trustee Brian Duffy is also a Director of the Company. At the year end debtors of £895,000 (2024 - £Nil) were due from the Watches of Switzerland Company Limited.” — page 28
“The charity benefits from certain staff time and rent donated by Watches of Switzerland Group plc of which the Trustee Brian Duffy is a director. During the year staff time and rent totalling £16,315 (2024 £15,044) was donated to the charity.” — page 28
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Donated staff time and rent from Watches of Switzerland Group plc
“During the year, Watches of Switzerland Company Limited commited donations totalling £811,777 (2024 - £1,500,000). Trustee Brian Duffy is also a Director of the Company. At the year end debtors of £895,000 (2024 - £Nil) were due from the Watches of Switzerland Company Limited.” — page 28
“The charity benefits from certain staff time and rent donated by Watches of Switzerland Group plc of which the Trustee Brian Duffy is a director. During the year staff time and rent totalling £16,315 (2024 £15,044) was donated to the charity.” — page 28
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Recharged staff time from Watches of Switzerland Group plc
“During the year, Watches of Switzerland Company Limited commited donations totalling £811,777 (2024 - £1,500,000). Trustee Brian Duffy is also a Director of the Company. At the year end debtors of £895,000 (2024 - £Nil) were due from the Watches of Switzerland Company Limited.” — page 28
“The charity benefits from certain staff time and rent donated by Watches of Switzerland Group plc of which the Trustee Brian Duffy is a director. During the year staff time and rent totalling £16,315 (2024 £15,044) was donated to the charity.” — page 28
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Grants to US Foundation
“During the year, Watches of Switzerland Company Limited commited donations totalling £811,777 (2024 - £1,500,000). Trustee Brian Duffy is also a Director of the Company. At the year end debtors of £895,000 (2024 - £Nil) were due from the Watches of Switzerland Company Limited.” — page 28
“The charity benefits from certain staff time and rent donated by Watches of Switzerland Group plc of which the Trustee Brian Duffy is a director. During the year staff time and rent totalling £16,315 (2024 £15,044) was donated to the charity.” — page 28
Per its FY2025 accounts as filed with the Charity Commission.
Structured financials (annual return, FY ending 30/04/2025)
Total income
£828k
Total spending
£1.5m
Reserves (reported)
£1.8m
Employees
0
Trustees
- Hugh Brian Duffychair
- David James Gandy
- John David Hannah
- Johnathan Joseph
- Ruth Georgina Benford
- Terence Ian Parris
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/04/2025 | £828k | £1.5m |
| 30/04/2024 | £1.5m | £2.0m |
| 30/04/2023 | £1.5m | £1.7m |
| 30/04/2022 | £4.5m | £1.4m |
Common questions
Is THE WATCHES OF SWITZERLAND GROUP FOUNDATION financially healthy?
The accounts state that total unrestricted funds decreased from £2,424,943 to £1,751,008 due to a net expenditure of £673,935, driven by charitable grants exceeding incoming donations. The Trustees report that the charity has net assets and no material uncertainties regarding its ability to continue as a going concern for at least twelve months. Its FY2025 accounts were audited by Crowe U.K. LLP.