The Buckinghamshire Masonic Centenary Fund Financial Statements For the Year Ended 31st March 2024
The Buckinghamshire Masonic Centenary Fund Index Page Legal and administrative information Trustees, Report 213 Report of the Independent examiner Statement of financial ae(ivities Balarsce Sheet Notes to the f Inancial statements 718
The Buckinghamshire Masonic Centenary Fund Legal and Administrative Information Registered Charity number 1007193 Honorary Secretary's address C/0 Buckinghamshire Provincial Office Masonic Centre Old School Windsor End Beaconsfield HP9 2JW Committee Officers N Robertson T Anders PARCole Chairman Honorary Secretary Honorary Treasurer Bankers Lloyds PIC Independent Examiner A Davies ACA FAMagee&Co 6 Pump Lane Hayes UB3 3NB Investment Advisors Crauford Hale Wealth Management Limited Belmont Place Belmont Road Maidenhead SL6 6TB Page 1
THE BUCKINGHAMSHIRE MASONIC CENTENARY FUND TRUSTEES, REPORT On behalf of my fellow Trustees, I submit my Annual Report of the Buckinghamshire Masonic Centenary Fund, together with the independently examined financial staternents for the year ended 31st March 2024. Princlpal Activltles, Revlew of Actlvltles, and Investment Pollcy The Buckinghamshire Masonic Centenary Fund make5 grants, on behalf of all Buckinghamshire Freemasons, to non-masonic charitable and other good causes with strong Buckinghamshire connections. The Fund remains in sound financial health. The investment performance and capital safety are monitored and reviewed in conjunction with our advisers, and our policy regarding the composition of our investment portfolio continues to be reviewed. Orianisation The trustees servlng during the year were as follows: V.W. Bro N Robertson W. Bro. G Brodie (resigned 7 October 20231 W. Bro. M Eaton W. Bro J King lappointed 7 October 20231 In addition, W. Bro, T Anders continued as Honorarysecretary, W Bro, P, Cole as HonoraryTreasurer and W Bro. F. Duncan as Assistant Secretarv. Revlew of Fln•nclal Performance The Investment performance and caplt81 safety are monltored and revlewed In conjunction with our advisers, and our policy regarding the composition of our investment portfolio continues to be reviewed, Over the past year there was an Increase of £59,816 In the market value of our investment portfolio and at the end of the year the value was £734, 17812022 £674,362). The trustees are continuing to monitor this situation and take advise from our independent financlal advisors. At thls tlme, It is the considered opinion that the funds continue to be able to support the actlvltles of the charlty and the applications recelved. Subscriptions received totalled £11,526 compared to £11,330 Ift 2023, wlth all 117 Lodges in the Province subscribing. On behalf of the Provincial Executive, I would like to thank all the Lodges for their partitipation. At the Annual General Meeting of the Fund at Great Queen Street, London, on Monday 7th October 2023, it was dècided to keep the voluntary subscription at £3 per member. The Fund Committee is grateful for the continued support of the Provincial Executive. In accordance with the policy directed by the Trustees, the Fund Committee continues to target grants for maximum effectSveness by focusing donations upon new projects and facilities for the non-masonic communities in our Province rather than contributing to routine or core expenditure. During the year, applications for grants increased over the previous year, as charities were able to meet again following the removal of Covid restrictions. Grants totalling £51,383 were paid to IentY-fiVe worthy causes, compared to £28,272 in the year ended 31" March 2023. The Centenary Fund's assistance to non.Masonic charitable endeavours in our local communities continues to attract favourable publicity through reports and photographs in the local press and in the Provincial newsletter, Concord, Reports are also now made on social rnedia. To identlfy suitable non-masonic causes and to generate additional funds, guldance for Lodges and Individual Brethren on the Fund and its objectives is avallable from local Centre Representatives, Comrnittee Members and on the Provincial Website: . www.bucks l.or Page 2
THE BUCKINGHAMSHIRE MASONIC CENTENARY FUND TRUSTEES, REPORT The Buckinghamshlre Communlty Foundatlon IBCF) Our Provincial Executive and Trustees continue to work with the BCF, a Registered Charity, formed by the 8uckinghamshire County Council and Central Government. One advantage of this partnership was to obtain matched funding from Central Government under the "Grassroots Grant Scheme" £150,000 was donated by the BMCF which was matched, creating an endowment of £300,000 in a ring-fenced Investment portfolio. The objectives of the BCF mirror those of the BMCF and both funds make grants from Investmentlinterest income derived from endowment capital bases, Int•rn•l Control & Rlsk M•n•i•rn•nt The Trustees are satlsfled that the rlsks faced by the Charlty are adequately addressed. The Offlcers of the Fund and the FL*nd Committee, wlth the guidance and assistance of our professional advisers, ensure that all current legal and flnanclal Commltments are met from In¢omSn8 funds and that there Is no lon8.term exposure more than known incoming funds. Publlt B•n•fft The Trustees are aware of the charfty Commlssion's 8uldance on publlc befteflt and consider that the Chaiivs objertSves fall well wlthln those guldelines. The Trustees have accepted the attachèd annual accounts for the year to 31st March 2024, whlch they recommend to the membersh5p for approval and adoptlon at the 2024 Annual General Meetln8 of the Fund. Neil Robertson Chairman of the Trustees. 5 October 2024 Page 3
THE BUCKINGHAMSHIRE MASONIC CENTENARY FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BUCKINGHAMSHIRE MASONIC ENTENARY FUND I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2024. Responslbllltles and basls of report As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 20111"the Act"). I report in respect of my examination of the Charit¢s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under settion 14515llbl of the Act. Independent examlneVs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in orderto enable a proper understanding of the accounts to be reached. A Davies ACA FAMagee&Co 6 Pump Lane Hayes Mlddlesex UB33NB Date 5 October 2024 Page 4
Th• Bu¢klngh•mshlr• Masonlc C•nt•nary Fund statement ot Flnanclal Actlvlt1•5 for th• Y•ir Ended 31st March 2024 Not•s 2024 Unr•strlrt•d Fundi 2024 Endowm•nt 2024 Total 2023 Total Funds Funds In¢ornlnK ReJour¢•J Donatlon5 18,255 18,255 9,100 Lodi• Subscrlptlons 11,526 11,526 11,330 Invrftment Income 1,169 1,169 350 Oth•r In¢om• 30 30 T¢)tl lft¢omlni R•sOurl 30,980 30,980 R•sgur¢• Exp•nd•d Charltibl• Exp•ndltyr• Grints Payabl• 51,383 51,383 28,272 Tot•1 R••ourc•> Exp•nd•d 51,383 51,383 28,272 N•t Ineomlng R•sour£ 120,4031 120,4031 17,4481 N•t Prof$ ILoss•$l on Inv•stm•nt Ass•ts 59,816 59,816 6,011 Transfer betwe$n funds 15,000 115,CQOI N•t Mov•m•nl In Fundi 15,4031 44,816 39,413 11,4371 8alancos 8rouiht Forw4rd 8,924 699,287 708,211 709,648 Fund Balances Carrled Forward 3,521 744,103 747,624 708.211 P89e 5
The Buckinghamshire Masonic Centenary Fund Balance Sheet as at 31st March 2024 Notes 2024 2023 Fixed Assets Investments 734,178 674,362 Current Assets Bank Balances 28,199 33,849 Current Assets 28,199 33,849 Creditors: Amounts falling due within one year 114,7531 Net Current Assets 13,446 33,849 Total Net Assets 747 624 708,211 Funds: Capital Funds Endowment Fund 744,103 699,287 Income Funds Unrestricted Funds 3,521 8,924 Total Funds 747,624 708,211 Approved on behalf of the Trustee5: N Robertson Date 5th Ortober 2024 Page 6
The Bu¢kin8hamshlre Mason1¢ Centenary Fund Notes to the Financlal Statements for the Year Ended 31st March 2024 Accountin8 policies Basis of Accounting The accounts have been prepared in accordance with the Accounting and Reporting bv Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20151 and the requlrements of the Charities Act 2011. Lodge subscriptions and donations LodEe subscriptions and donations are brought into account during the period in which they are received. Investments Investments are stated at market value and income is accounted for when received. The historical cost of the Investments at 31st March 2024 was £682,000 (2023 £682,000). The market values are shown in note 3 below. Grants payable Grants payable are charged to expenditLtre when a commitment has been made to the recipient. Fund accountln8 Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable object5 of the charity. The endowment fund represents those assets which must be held permanently by the charity, principally investments. Income arising from the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income, Capital gains and10$5es on the investments form part of the endowment fund. In March 2024, a transfer of £15,000 was made from the endowment fund to the unrestricted fund, whlch represents part of the income accumulated within the endowment fund since March 2021, when the charity's investments were placed in a unit based investment. Investment Income 2024 2023 Interest on Cash Deposits 1,169 1,169 350 350 Investments 2024 2023 Page 7
The Bucklnghamshlre Masonlc Centenary Fund Notes to the Flnanclal Statements for the Year Ended 31st March 2024 Investments 2024 2023 Investments at market value comprised.. Novia Financial PIC 734,178 734,178 674,362 674.362 2024 2023 Creditors Grants Payable 14,753 14,753 Analysis of fund balances between the net assets Unrestricted Funds Permanent Endowment Funds Total Funds Investments 734,178 734,178 Net Current Assets 3,521 9,925 13,446 3,521 744, 103 747,624 Represented by: Realised amounts 3,521 682,000 685,521 Unrealised amounts 62,103 62.103 3,521 744, 103 747,624 Grant5 Paid Grants paid during the year totalled £51,38312023,' £28,272). Page 8