**Registered Charity Number: 1016963**
**PROVINCIAL GRAND LODGE OF MARK MASTER MASONS OF LONDON**
**FUND OF BENEVOLENCE FINANCIAL STATEMENTS 31 AUGUST 2024**
**PROVINCIAL GRAND LODGE OF**
## **MARK MASTER MASONS OF LONDON**
## **FUND OF BENEVOLENCE**
## **FOR THE YEAR ENDED 31 AUGUST 2024 FINANCIAL STATEMENTS CONTENTS PAGE**
|**CONTENTS**||
|---|---|
|TRUSTEES' REPORT|1-3|
|STATEMENT OF TRUSTEES' RESPONSIBILITIES|4|
|REPORT OF THE AUDITORS|5-8|
|STATEMENT OF FINANCIAL ACTIVITIES AND REVENUE ACCOUNT|9|
|BALANCE SHEET|10|
|NOTES TO THE ACCOUNTS|11-13|
**PROVINCIAL GRAND LODGE OF**
# **MARK MASTER MASONS OF LONDON**
# **FUND OF BENEVOLENCE**
**TRUSTEES’ REPORT**
# **FOR THE YEAR ENDED 31 AUGUST 2024**
The Trustees present their report and the financial statements for the year ended 31 August 2024.
## **LEGAL AND ADMINISTRATIVE DETAILS**
The charity is The Provincial Grand Lodge of Mark Master Masons of London Fund of Benevolence and is registered at the Charity Commission under registration number 1016963.
The Trustees have given due regard to the Charity Commission’s guidance on public benefit.
## **TRUSTEES**
The Trustees, who served during the year, and to the date of signing this Report, are:
Thomas Quinn Timothy MacAndrews Stephen Fenton Henry Hobson Derrick Silver Marios Stylianides
## **ORGANISATION**
The Trustees of the charity are responsible for the administration and control of all aspects of The Provincial Grand Lodge of Mark Master Masons of London Fund of Benevolence.
## **BANKERS**
Metro Bank PLC CAF Bank Ltd The Freemasons’ Grand Charity
## **AUDITOR**
Shenkers LLP are willing to continue in office.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Provincial Grand Lodge of Mark Master Masons of London Fund of Benevolence is governed by both statute (Charities Acts) and the Constitutions and Regulations dated 8[th] January 1993. The charity is governed by its Trust Deed dated 8 January 1999, and the revision thereto dated 14 July 2022.
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the guidance issued by the Charity Commission on public benefit.
The Provincial Grand Lodge of Mark Master Masons of London Fund of Benevolence is referred to in this report as the “Fund of Benevolence”.
## Appointment of New Trustees
When required, new Trustees will be appointed by the Board of Trustees in order to provide the Board with the appropriate balance of expertise and experience. They will be provided with information about the Charity and kept informed of relevant developments in the charity sector.
**Page 1**
**TRUSTEES’ REPORT** _(continued)_
## Organisational structure
The Trustees review their grant-making policies on a regular basis. The full Trustee Board meets as and when there are applications to be considered and annually to review the accounts and administrative matters.
## **ACTIVITIES AND OBJECTS**
The aim of the charity is to make grants both to individuals in financial need and for specific purposes to other registered charities.
The Trustees shall make such charitable grants as having regard to any resolution adopted by Provincial Grand Lodge the Trustees shall from time to time think fit.
The Fund of Benevolence is supported by contributions from Brethren and Lodges, and these may take the form of donations, covenants, legacies or bequests.
## **GRANT MAKING POLICY**
To make grants to Mark Master Masons or their wives, widows, sisters or other dependents or children, provided that such grants are for the relief of need.
To make grants to other Mark Provinces for similar purposes and to other Registered Charities.
## **ACHIEVMENTS AND PERFORMANCE**
During the year, grants were paid to other Mark Provinces in the amount of £5,000.
## F **INANCIAL REVIEW**
Incoming resources for the year amounted to £45,434 (2023: £56,229) and the combined cost of grants paid out and expenses amounted to £83,445 (2023: £11,866).
At the balance sheet date, the Fund of Benevolence had a total bank balance of £150,617 (2023: £160,307).
## **RESERVES POLICY**
Funds are retained as it is the practice to make substantial donations from time to time and investments and income therefore must be maintained to further this policy.
The Trustees consider that there are sufficient reserves held at 31 August 2024 to manage any foreseeable downturn in the UK economy. The Trustees consider that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and, for this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements.
Reserves for the restricted and unrestricted funds total £116,291 at the year-end (2023: £154,302). At the same date the total restricted funds are £ 13,440 (2023: £40,253).
## **PLANS FOR THE FUTURE**
The Trustees plan to continue the grant-making activities in future years providing support to appropriate beneficiaries.
**Page 2**
**TRUSTEES’ REPORT** _(continued)_
## **INVESTMENT POLICY AND PERFORMANCE**
The policy of the trust deed is to provide quickly grants in relief of need for Mark Masons and their dependents and from time to time to make substantial grants to worthy causes likely to benefit Mark Masons and so far as funds permit to make similar grants to non-Masons. The sources of income for the fund are donations from individuals and Lodges.
## **RISK POLICY**
The Trustees have reviewed their procedures to identify and examine the major strategic, business and operational risks that their charity faces. The necessary systems are established to enable reports to be produced to ensure that action is taken to manage the effects of the identified risks.
**Page 3**
**PROVINCIAL GRAND LODGE OF MARK MASTER MASONS OF LONDON**
## **FUND OF BENEVOLENCE STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024**
## **TRUSTEES’ RESPONSIBILITIES**
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the year and of the charity’s financial activities during the year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards). In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently.
- make judgments and accounting estimates that are reasonable and prudent.
- follow applicable UK Accounting Standards and the Charities SORP, disclosing and explaining any departures in the financial statements.
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The Trustees are responsible for ensuring that adequate accounting records are maintained that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and ensuring their proper application in accordance with charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on XXXXX
and signed on their behalf by Stephen Fenton
**Page 4**
**PROVINCIAL GRAND LODGE OF MARK MASTER MASONS OF LONDON FUND OF BENEVOLENCE INDEPENDENT AUDITOR’S REPORT YEAR ENDED 31 AUGUST 2024**
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE PROVINCIAL GRAND LODGE OF MARK MASTER MASONS OF LONDON FUND OF BENEVOLENCE**
## **Opinion**
We have audited the financial statements of The Provincial Grand Lodge of Mark Master Masons of London Fund of Benevolence for the year ended 31 August 2024 which comprise the statement of financial activities, statement of financial position, and the related notes, set out on pages 9 to 13. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; and
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
**Page 5**
## **INDEPENDENT AUDITOR’S REPORT** _(continued)_
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the Trustees’ report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Respective responsibilities of Trustees**
As explained more fully in the Trustees Responsibility Statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial 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 Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
**Page 6**
## **INDEPENDENT AUDITOR’S REPORT** _(continued)_
**The extent to which the audit was considered capable of detecting irregularities including fraud** Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• the Statutory Auditor ensured that the audit team collectively had the appropriate competence, skills, and capabilities to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the charity through discussions with trustees, and from our knowledge and experience of the relevant sector;
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of the trustees and inspecting legal correspondence where relevant; and
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of the trustees as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering 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 relationships;
• tested journal entries to identify unusual transactions;
• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
• investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• agreeing financial statement disclosures to underlying supporting documentation;
• reading the minutes of meetings of those charged with governance;
• enquiring of management as to actual and potential litigation and claims; and
• reviewing correspondence with HM Revenue & Customs, relevant regulators, and the charity’s legal advisors.
There are inherent limitations in our audit procedures described above. The more remote that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
**Page 7**
## **INDEPENDENT AUDITOR’S REPORT** _(continued)_
- Conclude on the appropriateness of the Trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the charity Trustees, as a body, in accordance with section 144 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## **Michael Shenker FCA For and on behalf of Shenkers LLP**
Chartered Accountants and Statutory Auditor XXXXX 3[rd] Floor Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ
**Page 8**
**PROVINCIAL GRAND LODGE OF**
## **MARK MASTER MASONS OF LONDON**
## **FUND OF BENEVOLENCE**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023**
## **4**
|**Note**
**INCOMING RESOURCES**
Donations
2
Interest received
Charity collections
2
**Total incoming resources**
**RESOURCES EXPENDED**
**Charitable activities**
Grants payable
3
Expenses
**Total Resources expended**
**NET**
**(OUTGOING)/INCOMING**
**RESOURCES**
Transfer between funds
6
**NET MOVEMENT IN**
**FUNDS**
**FOR THE YEAR**
**Reconciliation of funds:**
Total Funds brought forward
**Total Funds carried**
**forward**|**Unrestricted**
**2024**
**£**
**457**
**2,867**
**7,423**|**Restricted**
**Total**
Total
**2024**
**2024**
2023
**£**
**£**
**34,687**
**35,144**
_46,766_
**-**
**2,867**
_1,403_
**-**
**7,423**
_8,060_|
|---|---|---|
||**10,747**|**34,687**
**45,434**
_59,229_|
||**21,890**
**55**|**61,500**
**83,390**
_11,800_
**-**
**55**
_66_|
||**21,945**|**61,500**
**83,445**
_11,866_|
||**(11,198)**|**(26,813)**
**(38,011)**
_44,363_|
||**-**|**-**
**-**
_-_|
||**(11,198)**
114,049|**(26,813)**
**(38,011)**
_44,363_
40,253
154,302
_109,939_|
||**102,851**|**13,440**
**116,291**
_154,302_|
All of the above are represented by continuing operations.
There are no recognised gains and losses other than those shown above.
**The notes on pages 11 to 13 form part of these financial statements.**
**Page 9**
## **PROVINCIAL GRAND LODGE OF**
## **MARK MASTER MASONS OF LONDON**
## **FUND OF BENEVOLENCE**
## **BALANCE SHEET AS AT 31 AUGUST 2024**
|**Note**
**CURRENT ASSETS**
Debtors
4
Cash at bank
**CURRENT LIABILITIES**
Creditors:Amounts falling due within one year
5
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**REPRESENTED BY FUNDS**
**Unrestricted funds**
**Restricted funds**
**TOTAL CHARITY FUNDS**
6|**2024**
**2023**
**£**
**£**
**7,422**
**-**
**150,617**
**160,306**
**158,039**
**160,306**
**41,748**
**6,004**
**41,748**
**6,004**
**116,291 **
**154,302 **
**116,291**
**154,302**
**102,851**
**114,049**
**13,440**
**40,253**
**116,291**
**154,302**|
|---|---|
The financial statements were approved by the Trustees and authorised for issue and signed on their behalf by:
## **Stephen Fenton**
## **TRUSTEE Chartered Accountant Provincial Grand Treasurer XXXXXX**
**The notes on pages 11 to 13 form part of these financial statements.**
**Page 10**
## **PROVINCIAL GRAND LODGE OF MARK MASTER MASONS OF LONDON FUND OF BENEVOLENCE NOTES TO THE FINANCIAL STATEMENTS**
## **1.1 GENERAL INFORMATION**
The charity is registered in England and Wales and a registered charity in England and Wales. The charity does not have a principal office.
The charity is a public benefit entity.
## **1.2 STATEMENT OF COMPLIANCE**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **1.3 ACCOUNTING POLICIES**
## **1.3.1 Basis of preparation**
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **1.3.2 Going concern**
There are no material uncertainties about the charity's ability to continue as a going concern.
## **1.3.3 Incoming resources**
Donations and other incoming resources are included in the Statement of Financial Activities in the year of receipt.
## **1.3.4 Grants payable**
Grants payable are included in the Statement of Financial Activities in the year when the offer is authorised and conveyed to the recipient.
## **1.3.5 Governance Costs**
No governance costs are incurred in relation to the statutory running of the charity.
Auditors’ remuneration was £nil (2023: £nil) on the basis of the audit being performed for a nominal fee.
**Page 11**
**PROVINCIAL GRAND LODGE OF MARK MASTER MASONS OF LONDON FUND OF BENEVOLENCE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **NOTES TO THE FINANCIAL STATEMENTS** _(continued)_
## **2 INCOMING RESOURCES**
Analysis of incoming resources:
## Donations
||||2024|2023|
|---|---|---|---|---|
||||£|£|
||Donations from Brethren||||
||and Lodges|(restricted funds)|34,687|40,253|
||Miscellaneous donations|(unrestricted funds)|7,800|6,523|
||||**42,567**|**46,766**|
|.|||||
|Charity collections|||||
||||2024|2023|
||||£|£|
||AGM collection|(unrestricted funds)|7,423|8,060|
||||**7,423**|**8,060**|
|**3**|**COSTS OF CHARITABLE ACTIVITIES**||||
|Analysis of grants by type|||||
||||2024|2023|
||||£|£|
||Grants payable to institutions||83,000|9,500|
||Grants payable to individuals||390|2,300|
||||**83,390**|**11,800**|
|Details of all material grants payable:|||||
|**Grants payable from unrestricted funds**|||||
||||2024|2023|
||||£|£|
||Other Mark Provinces||5,000|5,000|
||South London Christmas Dinners||3,000|3,000|
||Metropolitan Grand Lodge||13,500|-|
||London Taxi Charity||-|1,500|
||Other grants|||2,300|
||||**21,500**|**11,800**|
|**Grants payable from restricted funds**|||||
||||2024|_2023_|
||||£|_£_|
||Metropolitan Grand Lodge|– Air|61,500|_-_|
||Ambulance Appeal||||
||||**61,500**|**_-_**|
**Page 12**
## **PROVINCIAL GRAND LODGE OF**
## **MARK MASTER MASONS OF LONDON**
## **FUND OF BENEVOLENCE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **NOTES TO THE FINANCIAL STATEMENTS** _(continued)_
## **4 DEBTORS**
|Other debtors
**5**
**CREDITORS**
**Amounts falling due within one year:**
Other creditors|2024
_2023_
£
_£_
7,422
_-_|
|---|---|
||**7,422**
**_-_**
2024
_2023_
£
_£_
41,748
_6,004_|
||**41,748**
**_6,004_**|
## **6 MOVEMENT OF FUNDS**
|**Unrestricted funds**
**Restricted funds**
**TOTAL FUNDS**|_1 September_
_2023_
Incoming
Resources
Resources
Expended
**Transfers**
**31 August**
**2024**
_£_
£
£
**£**
**£**
_114,049_
10,747
21,945
**-**
**102,851**
_40,253_
34,687
61,500
**-**
**13,440**|
|---|---|
||_154,302_
45,434
83,445
**-**
**116,291**|
Unrestricted funds are funds which the charity can use in accordance with its charitable objectives and restricted funds are those which must be used in accordance with the donor’s intentions.
## **7 TAXATION**
The Provincial Grand Lodge of Mark Master Masons of London Fund of Benevolence is a registered charity and is not liable to corporation tax.
## **8 TRANSACTIONS WITH TRUSTEES**
No Trustees have received any remuneration nor had any expenses paid on their behalf, in either this or the preceding year.
## **9 RELATED PARTY TRANSACTIONS**
In the opinion of the Trustees there are no related party transactions.
## **10 CONTROL**
In the opinion of the Trustees the charity is not under the control of any one party.
**Page 13**