REGI.STF.RED CH.4RITY NLNIBER: 10037¥11 REPORT OF THE TRLSTEES AND ALDITED FINANCI.4L STATEMEYTS FOR THE YEAR ENDED 31 IIIARCH 2024 FOR THE BERKSHIRE MASO]IIC CHARITY
THF. BTr.RKSHIRE NI.ISONIC CH.*RITI' COiNTENTS OF THE FIN'..I%'CI.4L STATF.MENTS FOR THE I'EAR ENDED 31 M.4RCH 2V24 Page Report of the Trustee5 Reporl of the Independent Audilors Statement of Financial Activities Statement of Financial Position 10 INoles to the Financial Statements Detailed Slatement of Financial Activilies 19
THE BERKSHIRE M.4SONIC CH.4RITI" REPORT OF THE TRLSTEES FOR THE I'EAR ENDED 31 M.4RCH 2024 The Trust¢¢s present th¢ir report toiY¢th¢r iviih the audited financial statements of the Charity for the year ended 31 March 2024. Thc Trustees Lonfinn that the annual report and financial statem¢nts of thc charity comply with the current statutory requirements, the requirements of the charity's giov¢rning7 document and ihe provision of the Siatemeni of Recommended Practice (SORP). appliLable to chariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effecriv¢ l January 2019). OBJECTIN'ES AND ACTI ITIES ObjecliTr'es and aim5 The Charity's objectiN'es arc to disiribute investment incom¢ for the relief of local distr¢ss and Lharitable need of a Masonic or non-masonic natur¢. Social ini'estmentS A w ide variety of Lauses benefiied from assi5tanLe proi'ided by the Charity in the cuent year. In the main. they continue to be organisations and charities proN'iding facilities for the disabled and disadvantas7¢d members of the community. As in previou5 years. assistance to disadvantaged and disabled individuals from all types of background feature strongly in our grdnt PTogramm¢. The Trustees have considered the guidance in the Charity Commissions. general guidance on public b¢nefit when reviewing the aims and objectives of the Charity and in planning future activities. In particular. the Trustees consider how the ChaTity's grant making p)licies will contribute to the aims and objeciiN'es they have set. ACHIEVEMEYT AND PERFORMANCE Charitable aclivities The Managem¢nt Committee meets quarterly io consid¢r grant applications recommended by the Petitions Committee. During the year the Charity made a lotal of 29 (2023= 45 grants) to different individuals and institutions totalling £44.808 (2023- £65.417). Th¢s¢ grants covered a wide range of caus¢s includin community, educational, youih. ¢lderly, disadianta&Ted and disabled. To alhieve its stated objectives. the charity is reliant on income from its inveslments as detailed in note 3. Analvsis of Grants 2024 2023 umber TorAI £ Numb¢r Tvt<il £ Grants to individuals Grants to institutions 3,955 61,462 29 44.808 Total 29 44.808 45 6).417 The availability of Masonic Charitable Foundation sourced funding for some grants, and the fact that some events hai'e not taken place. m¢an% that the Charity has noi seen a requirement to dra. on uncapitalised reserves lo date. However, as or¥anisations restart their activities, we anticipate that demand will rise at the same time as alternative funding streams come lo an ¢nd.
THE BF.RKSHIRE MASONIC CH.4RITI" REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACH1F.VEIET AND PERFORNI.&NCE Ini'estment Performance.4gain5t Objeclives Set The Charity's Investments fell back In value durlngy the financial year as interesi rates rose much faster than expected as ceniral banks souoht to counter persi5tcntly higFher Ite15 of inflalion, whilst the economy and employment remained relatii'ely robust. This rise in interest rates was flected in the repricing of the lower of most financial assets particularly fixed income assets. As at the end of the finanLial year on 3 Isi March the totsl investment portfolio was I'alued at £.3.169,281, a yain of circa. 1.40/0 in capital value over th¢ year whilsl on a toial return basis. inLludinsy incon]¢ generated and dra..n dowD bv us. the ponfolio rose 8.) /D. The income generarion of the portfolio rose to a little over £88,000 representinu an increase of130/0 or more than £1 0,000 from the prior year reflecting higher inler¢st rates. with expectalions for a further if more modest incr¢as¢ The Berkshire Masonic Charity's investments are managied by two inves(m¢nt manag¢rs h0 continue to operate on the mandate laid out by the Trustees of a moderale attitude to risk with an objective of a balance of &7rowth and incom¢. The mandate was reviewcd during the year and r¢-affirnied, althougih one of ih¢ investment managers hiiihlighted its preference lo move lo,ardS a more global orientalion for the equiry portion of the portfolio reducing ihe UK equity and which remains consistent with the mandate. The same investment manager was also undergoing a corporate merger at the Close of the financial year and in which no disruption was expected to the management of the Charity's investment portfolio. although it would be monitored. Inv¢stmcnt rnanagers continu¢ to see challenues for the global economy through elevat¢d levels of inflation. rising interests and heightened geo-political risk. The k¢y remains corporate profitability and for the Charity's portfolio to continue to grow its investment income. The Truste¢s remain mindful that whilst the capital value of ihe portfolio may be volalilc and unpredictable in the shortcr temi. the focus is on remaining invest¢d for the longer tenn and on that basis over the 5-to-7-year tJm¢scale the portfolios have continued broadly to meet their objectives. FI)AYCIAL REVIEW Reserves policy The Trusle¢s, in conjunction with the Treasurer. regularly review the reseTr'es policy ro ensure that there are sutlicient liquid cash reserves available io me¢( Ihe aniiLiP&it¥d graiits to charitics and othcr good causes, currently ¢stimated to be approximately £90.0(X) per annum. At the Statem¢nt of FinanLial Posilion date the charity had total rcserves of £3.323.340, of whiLh £3.169,281 would be realised in cash by disposing of the inv¢stments held. Toial reserves include £3.158.912 of r¢stricted funds and £164.428 of unrestricted funds. The level of grants rnade in the future will continue to be be tailored to reflect ai'ailabl¢ liquid r¢sources. Going toncern After makingF appropriate enquiries. the Trustees have a r¢asonable expectation that the chariry has adequate resources to continue for the forese¢abl¢ future. For this reason, they continue to adopt th¢ going conLem basis in preparing ih¢ financial statements. The investment portfolios are r¢tl¢cting the higyher degree of volatility in ihe wider finanLial marke15 although the Charit), takcs a very long-lerm tim¢ horizon for investment with the shorter ierni focus being to try 10 ensure the investment portfolios maintain a steady and rowing incom¢ stream for dispersion to its causes. Further details regardinth the adoption of th¢ goin( conc¢m basis can be found in the accouniing policies note io the finanLial statements. Page 2
THE BERKSHIRE NI.4SONIC CH.ARITI REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31 {ARCH 2024 FUTLRE PL.4NS The Charity ,11] continue to r¢'le the level of grant makino in line '1th antlClP3ted inLome after taking account of the charity's 0erheads. STRUCTURE, GOVERNA)CE AND MAiNAGENqENT Governinu doeument The Charity is controlled by its &Foverning document. a deed of irust dated 24 July 1991. and constitutes an unincorporated charity- Recruitment and appointment of new trustees On a recommendation ot- ¢hL Provincial Grand Master for B¢rkshire and in accordance with th¢ Trusi Deed, the name of a new Trustee is placed before ihe annual meeling of The PrOIncIal Grand LodbTe of Berkshire for election by the members of the Province. Organisational structure The Charity is run on a day to day basi> by the managemeni conunittee. Th¢ administration and secretarial duties of the Charity are coordinated from the principal oifice at Sindlesham. to which all enquiries should be made. The petitions committee make recommendatlons to the management committee as to the recipients and the quantum of grnnts. The members serving on the committees are: Mana emeni Commitlc Nicholas McGr¢gor (Chairman) Guy Barlow Tim Lec Timothy Shenvood ITrust Secretary) Richard Lloyd (TTeasurer) Richard Grayson {Applications Secretary) David Jarvis Gery Preston Edward Hands Paul Thomsett Peier Oakley Petitions Committec Scan Kulan Ichainnan) James Edmundson Roger Goodchild Rodney Aldridge Michael H¢nnessy The Trusle¢s thank the present committee MeM[S and those retiring for their dedicated voluntary service to the Charity. The Trustees revi¢w the appointment of officers and committee members in Octob¢r each year. REFERENCE AND AD%IINISTR.4TIVE DETAILS Registered Charilv number 1003788
THE BERIKSHIRE M.ISONIC CHARITI" REPORT OF THE TRLSTEES FOR THE I'EAR E)DED 31 NI IARCH 2024 PriDeipal address Mole Road Sindlesham Wokingham Bcrkshire RG415DB Trustees G J Barlow TPLee M C Walker Iresiiyned 30.9.23) J K Palmer N McGregor Secretariat Timothy Sherwood Richard Grayson (Trust Secretary) (Applications Secretary) Auditors Vale & Il'est Accountancy Services Limited Chartered Accountants Statutory Auditors Victoria Hous¢ 26 Queen Victoria Street Reading Berkshire RGI ITG Investment Advisers Canaccord Genuiry Weal(h Limited 88 Wood Sireel London EC2V 7QR Rathbones incorporating Invesiec W¢alth & Inv¢sthient (UK 30 Gresham Street London EC2V 7QN Banker5 Lloyds Bank PIC 1-2 Market Place Reading B¢rkshiTe RGI 2EQ
THE BERKSHIRE l.s01c CH.4RITI' REPORT OF THE TRLSTEES FOR THE I'EAR ENDED 31 lARCH 2024 STATE.MENT OF TRUSTEES, RESPONSIBILITIES The trustces ar¢ respongible for preparing the Report of ihe Trusl¢¢s and the financial statements in aLcordance with applicable la, and United Kingdoni AccounEin¢y Standard (United Kingdom Generally Accepted Accounting Practice), including FinanLial RetM)rtin& Standard 102 "The Financial Reporting Standard applicable in th¢ UK and R¢public of Ireland" The law applicable to (harities In England and Wales, the Charilies Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of thc trust deed requires the trnsiees to prepare financial statements for ¢aLh financial year which &TjI'e a true and fair K"iew of the state of affairs of rhe charitj. and of the incoming resourc¢s and applicalion of rLsour¢es. includinu the income and expenditure. of ihe Lharity for thal period. In preparing those tinancial statements. Ihe trustees are required to= select suitable accounting policies and ihen apply them consistently- observe the methods and principles in ihe c.harity SQRP- make judgement and estimates that are reasonable and prudent- prepare the financial stst¢m¢nts on the going concern basis unless il is inappropriate to presum¢ that the chariry will continue in business. slate wheiher applicable United Kingdom Accountino Standards hav¢ been followed, subj¢ct to any malerial departures disclosed and explained in the financial stat¢ments. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of th¢ charity and io enable them to ensure that the financial statem¢nts comply with Ihe Charitics Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets ol the charity and hence for taking reasonable stcps for thc prevention and detection of fraud and other irregularitieg. Approved by order of the board of trustees on 15 April 2025 and signed on its behalf by.. T P Lee - Trustee Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THF. TRUSTEES OF THE BERKSHIRE M.4SONIC CHARITY Opinion W¢ have audited the financial siatem¢nis of The Berkshire Masonic Charity (the 'charity') for the year ended 31 March 2024 whilh comprise the Statement of Financial Activities, the S¢atem¢nt of Financial Posilion and notes to th¢ finanLial slalemenis, includingT a summary of si(vnificant accountingi policies. The financial r¢porrinth framework (hai ha5 been applied in their prcparation is applicable law and United Kingdom AcLountin(y Standards {L'nited Kingdom (ienerally Accepted Accounting, Practice), including Financial Reporting Standard 102 'The Financial Rep)rting Standard applicable in the UK and R¢public of Ireland,. n our opinion the financial statements= giv¢ a true and fair i'iew of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and applicaiion of resourL¢S, for the year then end¢d; been properly prepared in accordance with Unii¢d Kingdom Generally Accepted Accountin( Practice, ini ludinb7 Financial Reporting Standard 102 'The Financial Reporting Standard applicablc in the UK and Republic of Ireland,: and have be¢n prepared in acLordance with the requiremenis of the Charities Act 2011. Basis for opinion We conducled our audit in accordanc¢ with International Standards on Auditing (UK) (SSAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We ar¢ independent of th¢ charity in accordance with th¢ ¢ihical requirements that ar¢ relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and the proN'isions available for small entities. in the circumstances set out in note 15 to th¢ financial statements. and we have fijlfilled our other ¢thical responsibilities in accordance with these requirements. W¢ believe that the audit evidence we l)av¢ obtained is sufficient and appropriat¢ to provide a basis for our opinion. CoNclu¥ions relating to going CQDcern In auditing the financial statements, we have Concluded that the trnstees, us¢ of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforni¢(L we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continu¢ as a going concern for a period of ai least e1ve months from when the financial sthtements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the TeleN'ant sections of this report. Other information The trustees are responsible for the other inforniation. The other inforniation comprises the informalion included in the Annual Report. other ihan the financial slatements and our Report of th¢ Independenl Auditors thereon. Our opinion on the financial statements does not cover the oih¢r infom]ation and, except to the extent otherwise explicitly stated in our report, we do not express any fom) of assurance conclusion th¢r¢on. In connection with our audit of (he financial statements, our responsibility is to read the other infomation and, in doing so, consider whether ihe other infomution is materially inconsistent with the financial siatements or our knowledge obtained in the audit or otherwise appears to be maierially misstated. If we id¢ntify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misslatement in the financial stalemenls thems¢lves. If, bas¢d on ihe work we have p¢rfomied, we conclud¢ ihat there is a material misstatement of this other information. w¢ are rcquired to report that fact. W¢ hai'e nothing to report in ihis r¢gard.
REPORT OF THE INDEPENDENT ALDITORS TO THE TRLSTEES OF THE BERKSHIRE MASONIC CHARITI. Matters on which we are required to report bv exception We haN'¢ noihingy lo retK)rt In r¢spect of the following matters where the Charities IAccounts and Reports) Re(Fulaiions 2008 requires us lo report 10 you if. in our opinion= the infonnaiion oiTren in the Report of the Trnstees is inconsistent in any malerial rcspect with the financial stalemenls. or sufficient accountinu records have nol been k¢pt- or the financial siatemenfs are not in agreement with the accounting records and returns. or wc have nol received all the infornialion and explanations w¢ r¢quirc for our audit. Responsibilities of truslees As ¢xplainLd more fully in the Statement of Trust¢es' Responsibilities. the trustees are r¢sponsible for tlie preparaiion of the Iinancial Sfatements w'hich LFji'¢ a true and fair i'le. and for 5uLh intern81 control as ihe trustees dcterniine is neLessary lo enable th¢ pr¢paraiion of financial statements thai are free from malerial misstatemenf, whether du¢ lo fraud or error. In pr¢p2ring the financial statements, the trusrees ar¢ responsible for assessing the charity's ability to ontinue as a going Loncern, disclosing. as applicable. matters related to going concern and using the gioing concern basis of accounllng unless the trustees either inlend to liquidate the charity or to c¢as¢ operations, or have no realistic aliemative but lo do so. Our responsibilities for the audit of the financial statement5 We hav¢ been appointed as auditors undcr Section 144 of the Charities Act 2011 and report in accordanc¢ with the Act and relei'ant regulations made or having effect thereunder. Our objectiv¢s are to obtain reasonable assurance about 'hether the financial sthtements as a whole are free from material misstaiemeni. 'he[her duc Iv fraud or eiioi. and to 155u¢ a Rcport of thc Independent Auditors that Includes our opinion. Rcasonable assuranc¢ is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUK) will always d¢t¢ct a maicrial misstatement when it exists. Misstatements can arise from fraud or error aThd are considered material if. individually or in the aggregate, they could reasonably b¢ expected to influence the economic decisions of users taken on the basis of these rinancial statements. The extenf to which our procedures are capable of det¢cting irregularities, including fraud is detailed below.. Our approach to identifying and assessing the risks of material misslat¢ment in respect of irre.¢wlarities, including fraud and non-compliance 'Ith la'S and regulations. was as follows= the engagement partner ensured that the engagement team collectii'ely had the appropriate Lompetence, capabilities and skills to identify or recognise non<ompliance with applicabl¢ laws and regulations: we identified the laws and i¢gulations applicable to the company through discussions with directors and oth¢r manabtrement. and from our knowledge and experience of the charities sector" we focused on specific laws and regulations Vi'hich we considered may hawe a direci material effect on the financial statements or the operdtions of the company. including the Companics Act 2006. Charities Aci 2011- we assessed the extent of compliance with the laws and reoulations identified aboi'e throuJ making enquiri¢s of management and inspecting legal cOeSpondence- and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instan¢¢s of non-compliancc ihrouuhout the audil.
REPORT OF THE INDEPENDENT.4LDITORS TO THE TRLSTEES OF THE BERKSHIRE M.ASONIC CHARITY We assessed ihe suscepiibility of the company's financial statements to material misstatemeni, including obiaining an understanding of how. fraud might OL¢ur. by= makinii cnquiri¢s ot- manag?ement as to th"hcr¢ they considered there was susc¢ptibility to fraud. their kno,1ed¢ of actual, suspected and alletsed fraud: and Lonsidering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relaiionships; assessed whether judgF¢ments and assumptions made in determinino th¢ accouniin&y estimates '¢re indicaliF¥'e of poienlial bias. and invesrigated the rationale behind significanl or unusual transactions. In r¢sponse to the risk of IrrelIarItIeS and non-cnmpliance with laws and reglatIOnS. we desigined procedures Mihich included. but iN'ere not limited to.. agreeing financial statement disclosures to underlyingi supp()rting documentation. enquirin&F of management as lo actual and poteniial litigation and claims. There are inherent limitations in our audit proc¢dur¢s described above. The mor¢ removed that laws and regulations are from financial transactions. the less likely it is that we would become aware of non-compliance. Auditing standards also limil the audit procedures required to identify non-compliance with laws and regulations to enquiry of the direciors and other management and the inspection of regulatory and legal correspondence. if any. Material misstatements thar arise due to fraud can be harder to detect than those tliat arisc from ¢m)r as they may involvc dcliberate concealment or collusion. A further description of our r¢sponsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at Th3vw.frc.org.uk.audirorsr¢sponsibilities. This description forms part of our Report of the Independent .4uditors. Use of our report This report is made solely to ihe charity's trustees, as a body. in accordance with Part 4 of the Charities {Ac¢ounts and Reports) Regulations 2008. Our audit 'ork has been undertaken so that we might state to the charlty's trustees thos¢ malters we are required to stale to them in an auditors, r¢port and for no other purpose. To the fullest extent pemiitted by law. we do nol acc¢pt or assume responsibility to anyone other than the charity and the charity's trusre¢s as a body. for our audit work. fur Lhis report. oi for the opinions we have fornied. V(rfL l ll)-r Vale & West Accountancy SeThices Limited Chartered Accountants Statutory Auditors Victoria Hous¢ 26 Queen Victoria Street Reading Berkshir¢ RGI ITG 16 May 2025 Page 8
THF. BERKSHIRF. M.4SONIC CH.4RITI" STATEIIEiNT OF FIN.4NCIAL ACTII ITIES FOR THE YEAR ENDED 31 INIARCH 2024 31.3.24 Total lunds 31.3.23 Tolal funds L'nreslricted Re%tricted rund fund INCOMIYG RF.SOURCES FROM Donations and legacies 8,584 8,584 713 InN"estment income 91,977 91,977 81.290 Total 91,977 8,584 100,561 8?.003 RESOURCES EXPENDED O Raising funds 23,638 23,638 23.135 Charitable actil'ities Grants to insrimtions Oiher 44008 4875 44,808 4,875 65.417 4.975 Orher 814 814 813 Tolal 50,497 23,638 74.135 94,340 Net gainsl{losses) on inveslments 183,038 183,0311 (207.5451 NET INCOMEI(EXPENDITURE) 41.480 167,984 209,464 {219,882) RECOYCILIATION OF FLIIDS Total funds brouoht forw'ard 122,948 2,990.9211 3,113.876 3.333.758 TOTAL FUNDS CARRIED FORW.4Rt) 164.428 3.158.912 3J23,340 3.113,876 The notes forni part of Ihese financial sraiements
THE BERKSHIRE NI.ASONIC CH.4RITI" STATENIENT OF FIN.4NCT AL POSITIO 31 LII.4RCH 2024 31.3.24 31.3.23 Noles FIXED ASSETS Investments 3.169,281 3.007.707 CLRRENT ASSETS Deblors Cash ai bank 1,615 113,418 io 169,145 169,145 115.033 CREDITORS Amounts falling du¢ '1th1n one y¢aT {15,086) (8.864) YET CURRENT ASSETS 154,059 106,169 TOTAL ASSETS LESS CLRRENT LIABILITIES 3,323J40 3.113,876 NET ASSETS 3J23,340 3.113.876 FUNDS Unrestricted funds Restricted funds 13 164,428 3,158.912 122,948 2.990.928 TOTAL FUINDS 3J23,340 3.113.876 The financial statement5 were approved by the Board of Trustees and auihoris¢d for issue on 15 April 2025 and w¢re signed on its behalf by: T P Le¢ - Trustee N M¢Greoor - Trustee The notes form part ot- these financial siatemenrs Pats¢ 10
THE BERKSHIRE M,ISONIC CH.4RITI' NOTES TO THE FI)ANCI.AL ST.4TEIIF.NTS FOR THE I"EAR E.NDED 31 fv1.4RCH 2024 ACCOLINTING POLICIES Basis ofpreparing the financial slalements The financial siatem¢nts of Ihc Lharity, %hich is a public benefit entity under FRS 102, have been prepared in accordanLe with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Staiement of Recommended Practice applicable to charities pr¢paring their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) l¢ffectiN'e l January 2019),. Financial R¢porting Siandard 102 'Th¢ Financial ReportiniF Siandard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements hai'e been pr¢pared under th¢ historical cost coni'ention. witli the exL¢plion of ini'estinents ,hiC11 are included at market I'alue. as modi fi¢d by ihe revaluaiion of certaTn assels. Income recognition policies All income is recosnised in the Statement of Financial Actii'ities once the eharily has entitlement to the funds. it is probable that the income will bc r¢ceiNed and rhe amount can be measured reliably. Income tax recoverable in relalion to donations r¢¢eived under Gift Aid or deeds of covenanr is recognised at th¢ time of rhe donations. Investment income compris¢s diTr'idend income and fixed interest receivable from listed investments and interest Teceivabl¢ on deposits. Expenditure Liabilities arc recognised as expenditure as soon as there is a legal or constrnctive obligation committing ihe charity tv Ihat exp¢nditurc. it is probable that a transfcr of economic ben¢fit8 will be required in settlement and th¢ amount of the obligation can be measured reliably. Expendtture is accounted for on an accruals basis and has b¢¢D classifi¢d under headings that aggregate all cost related to th¢ category. Where cosls cannot be dir¢ctly attributed to particular headings ihey have be¢n allocated to activitics on a basis consistent w'ith the 5¢ of resources. Grants offered subject to conditions which have not been met at th¢ year end date are noted as a commitment but not accrued as expenditure. (iovernance costs are those Tncurred in conneLtion with administration of the charity and compliance with constiMtional and slatutory requirem¢nls. Taxation Th¢ chariry is exempt from taxation on its charitable activities. Fund accounting General fvnds ar¢ unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the chariry and which hai'¢ noi been designated for other purposes. Restricted funds are funds which are to be used in accordancc with specific restrictions imposed by donors or which haie been raised by the charity for particular purpos¢s. The costs of raisinu and administering such funds are charged against the specific fund. Page 11 ontinued...
THF. BERKSHIRE NI.4SONIC CH.4RITI' NOTES TO THE FITs.4NCI.4L ST.4TEIIENTS - continued FOR THE YEAR ENDED 31 %1.4RCH 2024 ACCOUNTIING POLICIES- continued Fund 2CCOUDting Envestmenls Infv'¢slmLnts are a fonn of basic instruments and are initially recognised at their transacrion value and subsequencly measured at iheir fair value as at the year end date using readily available market infomiation. They include cash held by the investment brokers for subsequent investment. The staleineni of financial activilies include the nei (yains and losses arising on reNaluations and disposals Ihroughout the vear. Cash at Bank Cash at bank inl ludes cash and short temi higlily liquid ini'estments wilh a short maturity of thre¢ months or less from the date of acquisition or opening of the deposit or similar account. Creditors Creditors are r¢cognised where the charity has a present obligation resulting from a past event that will probably rvsuli in the transfer of funds to a third party and the amount du¢ to settle the obligyalion an be measur¢d or estimated reliably. Creditors are nomially recognised at their settlemcnt amount after allowing for any trade discounts due. Going Concern At the reportino date the chariry held £169,145 in cash and had net current assets of £154.059 together with listed investments valued at £3.169.281. The trustees have reviewed the chariry's Posltion carefully. including lh¢ charity's grant making activities and have concluded they have reasonable expectation that the charity has adequat¢ resources to contiTJue for the foreseeable future. Accordingly. the trustees consider it appropriate to continue to adopi the going concern basis in preparing its financial stat¢menlS. Financial instruments Th¢ chariiy only has financial assets and financial liabilities of a kind that qualify as basic fTnan¢ial instruments. BasiL financial instruments ar¢ inilially recognised at transaction value and subs¢quently measured at their settlement N'alue. Significant judgements and estimales The preparation of the financial statements requir¢s management to make judgements, ¢stimates and assumptions (hat affect the amount reported for assets and liabilities as at the reporting date and the amounts reported for incom¢ and expenditure dunng th¢ year. However, the nature of the ¢stimation means that acrual outcomes could differ from those estimates. The following are the charitys key sources of estimation uncertainty: Fixed asset inve5tmenls Investments are carried at fair value with changes in fair valu¢ being recognised in the statement of financial aclivities. Fair i'alues are based on fvaluations provided by independ¢nt manatsers which include market pric¢s and readily ai.'atlablc market information for each investment but may refer lo market prices for similar investments V¥here there is no active market for the investment held by the charity. Paae 12 coniinu¢d...
THE BF.RKSHIRF. NI.ASONIC CHARITI. OTES TO THE FINANCIAL STATEIIENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIE.S- contiDued Significant judgements and estimates Accruals The charily mak¢5 an estimat¢ of accruals at the reporting date based on invoices received after ih¢ reporting date. work undertaken which has not b¢en invoiced based on quotations or estimates of amounts that may be due for payment. DOYATIONS AND LEGACIES 31.3.24 31.3.23 Donations 8,584 713 During the year and in preceding years. the Charity has b¢n¢fited from the use of office space at its registered address. This benefit is not reflected Tn the statement of financial activities. INVESTMENT II%COME 31.3.24 31.3.23 Dividends and fix¢d interest receivable Deposit account interest 88J65 3,612 80.301 989 91,977 81,290 RAISING FUL%DS Investment management eosls 31J.24 31.3.23 Stockbrokers. fees 23,638 23,135 Page 13 continued...
THE BERKSHIRE M.4SONIC CHARITI. NOTES TO THE FIN.4NCIAL STATENIENTS - conlinued FOR THE I'EAR ENDED 31 NIARCH 2024 CH.4RITABLE ACTIVITIES COSTS 31.3.24 31.3.23 ActiTr'itie5 undertaken direelly: Petitions oranted (Note 6) Sccretarial expenses Sundry expens¢s Insurancc Bank charb7es 44.808 60 713 1.615 101 65.417 77 727 86 47.297 67.854 Governance: Auditors, remuneration 3.2(MJ -3,350 50,497 71.204 GRANTS PAYABLE 31.3.24 31.3.23 Grants lo indii'iduals (iranls to institulions 3.955 61,462 44,808 44,808 65,417 The total Grants paid to inslitutions during the year a$ as follows= 31.3.24 31.3.23 Berkshire Festival Schools Aard Teddy Bears Northants. Bucks & OxfordshJr¢ SERV Th¢ Ray Collins Charitable Trust Volunteer Centre West Berkshire Launchpad Reading Sovereign Hospital of St John HealTh & Educarion South The Panlo Project SSNAP The Coshed CRUSE Bereavemeni Support Rosie's Rainbow Fund 15,000 (4,109) 3,107 2,500 2,500 2.000 2.000 2.000 2.000 7,000 4.250 3,500 2,000 2,000 Other grants (individually less than £2.0(X)) 26,058 34,464 44,1108 61.462 Page 14 coniinued...
THE BERKSHIRF. MASONIC CH,IRITI L-OTES TO THE FINANCIAL STATENIENTS - continued FOR THE I'EAR ENDED 31 LIIARCH 2024 TRLSTEES, REMUNERATION AID BENEFITS There '¢re no Trustees, remuneration or oth¢r benefiis for th¢ year ended 31 March 2024 nor for ihe year ended 31 March 2023. Trustees. expenses There were no Trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. FIXED ASSET INI'EST.NIENTS 31J.24 31.3.23 Lisied investments Cash or cash equivalenls 3.136.369 32,912 2.932.629 75,078 3.169.281 3.007.707 Additional inforniation as follows- Lisled investments Cost or valuatlon At l April 2023 Additions Disposals Revaluations Realised Gains 2,932,629 950,894 (930,192) 189.963 (6,925) At 31 March 2024 3,136,369 Carrying amount At 31 March 2024 3,136,369 At 31 March 2023 2,932,629 Pau¢ 15 conlinued..
THE BERliSHIRE MASONIC CH.IRITI" I%OTES TO THE FINAICIAL ST.4TENIENTS - continued FOR THE I"EAR ENDED 31 fvIARCH 2024 Investments (neither lisled nor unlisledl were as follows- 31J.24 31.3.23 Cash with brokers 32,912 75,078 Investmenis in l isled securiiies ar¢ shown on the balance sheet ai their fair value. Profil% and losses on sale of investrnents and moN'ements in fair value are taken io th¢ StatemenT of Financial ALti%'ities. DEBTORS: AMOUNTS FALLING I)UF. WITHIN ONE YEAR 31J.24 31.3.23 Prepayments 1.615 10. CASH AT BANK 31.3.24 31.3.23 Bank currenl account Bank deposi( accouni Masonic Charitable Foundation 67,329 101,670 146 62.309 50,575 534 Total 169,145 113.418 Cash held in the Grand Relief Chest is administered by the Masonic Charitable Foundation and all monies in this scheme are invested in interest earning acLounts. Pae 16 confinued...
THE BERKSHIRE M.ISONIC CH.4RITI- OTE.S TO THF. FITs.4NCI.4L STATEIIENTS - continued FOR THE I'EAR ENDED 31 ,NIARCH 2024 CREDITORS: .4MOLNTS FALLING DUE II'ITHIN ONE I'E.4R 31.3.24 11.3.23 Accrued expenses 15,086 8.864 12. ANALYSIS OF NET ASSETS BETWEEN FL'NI DS 31.3.24 Total nds 31.3.23 Toral Unrestricled Resrricted tund fund InN'esiments Current assets Cui"r¢nt liabilitics 32,917 140,545 {9,034) 3,136,364 28,600 (6,042 3,169,281 169,145 {15.086) 3.007.707 15.033 (8.864) 164,428 3,158,912 3J23,340 3.113.876 13. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds Gen¢ral fund 122,948 41,480 164,428 Restricted funds R¢slricted Funds 2,990,928 167,984 3.158.912 TOTAL FUNDS 3.113,876 209.464 3J23,340 Ner movement in funds, included in the al)ov¢ ale as follows= Incoming resources R¢sources expended Gains and Movemen( losses in ndS L'nrestricted funds General fund 91,977 (50.49D 41,480 Restricted funds Restricted Funds 8,584 (23,638) 183.038 167,984 TOTAL FU,NDS 100,561 (74.135) 183.038 209,464 Pao¢ 17 continued...
THE BERKSHIRE M.4SONIC CH.4RITI' NOTES TO THE FIN.4NCI.11. ST,ITE11EI%TS - continued FOR THE I'EAR ENDED 31 ,NIARCH 2024 13. MOVEMENT IN FUNDS- Continued Comparatii'es for moiemenl in funds Net movement in funds At 31.3.23 At 1.4.22 Lnreslricted funds General fund 12.863 10.085 122.948 Restricted funds R¢stricled Funds 3,220.895 {229.967) 2.990.928 TOTAL FUNDS 3.333.758 {219.882) 3.113.876 Comparativ¢ net movement in fund& includ¢d in thc above are as follo'S.. Incoming resources Resources expended Gains and Movement osses in funds Unrestricted funds Gcneral fund 81,290 (71.205) 10.085 Restricted funds Restricted Funds 713 (23,l35) 1207.545) (229.967) TOTAL FUNDS 82,003 {94.340) (207,545) (219.882) 14. RELATED PARTY DISCLOSLRES There were no related paty transactions for th¢ year ended 31 March 2024. IS. FRC ETHICAL STANDARD- PROVISIONS AN'AILABLE FOR SMALL ENTITIES In common with many other businesses of our size and naMr¢ we use our auditors to assist with the PTeparation of the financial statements. Paoe 18
THE BERKSHIRE M.4SONIC CH.4RITI' DETAILED ST.4TEIIENT OF FIiNANCIAL ACTIN'ITIES FOR THE I'EAR ENDED 31 lARCH 2024 31.3.24 31.3.23 IiNCOMING RESOURCES Donations and legacies Donalions 8,584 713 Investment income Dividends and fixed interest receiN'able Deposii account inieresi 88J65 3,612 80.301 989 91,977 81.290 Total incoming resources 100.S61 82.003 RESOURCES EXPE*DED Ini'eslment management tosts Stockbrokers, fees 23.638 23.135 Charitable activities Grants to institutions 44,808 65,417 Support costs Management Insurance Sundri¢s Secretarial expenses Bank charges 1,615 713 60 1,548 727 77 86 2,489 2.438 Governance cost5 Audilors, remuneration 3.21)0 3.350 Total resources expended 74,135 94,340 Net incomel(expenditure) before gains and losses 26,426 {12,337 Realised recognised gains and losses Realised (losses) / gains on fixed asset investments (6,925) (39.200) Net incomel(txpenditure) (51,537) This page does not fonn part of the statutory financial stalements Paoe 19