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The Margate Masonic Centre Benevolent Fund Charity Number 1017423
Trustees report and financial statements For the year ended 31 December 2023
The Margate Masonic Centre Benevolent Fund
Contents For the year ended 31 December 2023
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| Page | |||
|---|---|---|---|
| ReportoftheTrustees | 1-2 | ||
| Statement offinancial activities | , | 3 | |
| Balancesheet | ; | 4 | |
| StatementofAccounting Policies | 5 | ||
| independentExaminer'sReport | 6 |
The Margate Masonic Centre Benevolent Fund
1
Trustees’ report For the year ended 31 December 2023
The Trustees present their annual report together with the financial statements of The Margate Masonic Centre Benevolent Fund for the financial year from 1 January 2023 to 31 December 2023.
Trustees
The Trustees who held office during the year were:
M. Fuller (Chairman). B. J. Kingsman N. J. Alder M. Kennett J. Tiley
Objectives and activities
The main objectives of the charity, as set out in the governing document are:to raise funds for worthy causes - to provide a venue for training purposes - to assist with educating the general public about the benefits of Masonry - to preserve the Masonic building in Margate to enable the other objectives of the charity to be fulfilled.
The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
Achievements and Performance
The 2023 financial year was the second full year that the centre has been able to operate without any restrictions since the Covid-19 Pandemic occurred, and itis hoped that shoutd any future similar situation arise, that the centre is in a better situation than it previously was. The Trustees continually review the operational activities of the centre to see whether more use of the centre can be achieved to further augment the objectives of the Charity.
The centre has held “Open Days’ with a view to enable the General Public to view the premises, learn more about Freemasonry, and to be made aware of the charitable work undertaken by Masons, not only locally, but throughout the United Kingdon, and in fact throughout the world supporting relief projects in disaster and conflict areas.
Funds have once again been raised and distributed to Charities to both local and to national charities, and these distributions have recovered to almost the pre Covid-19 Pandemic with the aim for these to be increased in future years.
Financial review
Further expenditure was required during the year on the new Air Circulation scheme, which was installed in 2022, and a new shuttering system was installed in the building to ensure that access to the bar was limited to those with authority. If it had not been for these two items of Expenditure, the Trustees aim to see a return to surplus's being generated would have been achieved with a view to re-establishing adequate reserves to meet any future “one off expenditure that might arise to ensure that the objectives of the Charity will continue to be met for many years to come.
The policy of the Trustees remains to retain sufficient reserves to meet anticipated operating costs for a period of twelve months, as well as building up reserves to meet any unexpected future property expenses.
Structure, Governance and Management
The charity is governed by the Charity Commission Scheme dated 4 December 2000. The appointment of Trustees is govemed by the charity's constitution. The Trustees are authorised to appoint new Trustees to fill vacancies arising through the resignation or death of an existing Trustee. Recruitment and appointment of new Trustees is by invitation based on personal knowledge of the appointee. All new Trustees are welcomed to the committee and are guided through the Trustee responsibilities document published by the Charity Commission.
Pians for Future Periods
The Trustees will continue their existing policy of maintaining the fabric of the centre and encouraging users of the centre to generate funds for worthy causes.
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The Margate Masonic Centre Benevolent Fund
Trustees’ report (continued) For the year ended 31 December 2023
Trustees responsibilities statement
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities requires the Trustees to prepare financial statements for each financial year which require a true and fair view of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:
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e select suitable accounting policies and then apply them consistently;
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e observe the methods and principles in the charities SORP; e make judgements and accounting estimates that are reasonable and prudent; e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Trustees on 11 September 2023 and signed on their behalf.
M. Fuller Chairman
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The Margate Masonic Centre Benevolent Fund
| Statement offinancial activities | |||||
|---|---|---|---|---|---|
| Fortheyearended 31 December 2023 | 2023 | 2023 | 2022 | 2022 | |
| £ | £ | £ | £ | ||
| INCOME Contributionsfrom Lodges/SideDegrees Contributionsfrom Lodgestowards Building Fund Charitable Contributions Bar Turnover |
14,832.00 1,000.00 10,369.03 15,765.33 |
9,536.00 1,000.00 4,550.00 14,981.91 |
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| Interest | 63.11 | 19.05 | |||
| 42,029.47 | 30,086.96 | ||||
| EXPENDITURE | |||||
| Bar Costs | |||||
| BarPurchases | 8,613.41 | 8,777.42 | |||
| StockAdjustment | 1,437.65 10,051.06 |
282.08 9,059.50 |
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| BarHonorarium | 800.00 | 800.00 | |||
| BarRecycling Costs BarLicence |
1,180.76 180.00 |
189.86 180.00 |
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| BarCard ReaderCosts | 82.28 | 43.42 | |||
| BarSundries | 100.25 | 219.89 | |||
| 12,394.35 | 10,492.67 | ||||
| Centre Costs | |||||
| Business Rates | 259.57 | 483.60 | |||
| UtilityCosts Insurances Cleaning Costs Maintenance Cost |
3,349.81 1,356.52 2,092.92 1,797.56 |
2,935.57 4,240.75 2,634.06 3,599.32 |
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| PestControl | 155.00 | 400.00 | |||
| Telephone&Alarm Costs LegaiCosts ParkingPermit&Costs HonoursBoard |
1,651.76 460.20 425.00 335.00 |
1,617.48 0.00 504.70 0.00 |
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| ExaminersFees | 186.00 | 0.00 | |||
| Sundries AirCirculation Units |
0.00 4,395.60 |
29.98 24,576.00 |
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| NewBarShutters | 3,823.05 | 0.00 | |||
| NewKitchen Equipment | 0.00 20,287.99 |
2,167.70 39,889.16 |
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| 32,682.34 | 50,381.83 | ||||
| Add:-Charitable Donations | 11,069.03 | 43,751.37 | 4,950.00 | 55,331.83 |
(Deficit)/Surplus of Income over Expenditure
-1,721.90
-25,244.87
The Margate Masonic Centre Benevolent Fund
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|---|---|---|---|---|---|
|Balance|Sheet|:|
|As at 31|December 2023|
|2023|2023|2022|2022|
|£|£|£|£|
|Current Assets.|
|Funds|held|at Grand|Charity|10,214.96|11,095.28|
|Bar Stock|1,592.73|3,030.38|
|Bar Bank Account|8,237.31|8,368.76|
|Bar Cash|in hand|_|41,110.20|170.12|
|Bar Floats|450.00|450.00|
|Management Committee|- General Bank Alc|4,348.15|6,544.32|
|Management Committee|- Deposit A/c|996.64|987.17|
|Management Committee - Medical|Fund|643.60|780.37|
|Management Committee|- Trustees Funds|4,414.86|4,414.86|
|Management Committee|- Building Fund|7,713.53|6,536.58|
|Total Current Assets|.|39,721.98|42,377.84|
|Less:- Current Liabilities|
|Held on|behaif of Lodges & Side Degrees|8,583.59|8,017.55|.|
|Payments due to Charity|0.00|1,500.00|
|8,583.59|9,517.55|
|Net Assets|31,138.39|32,860.29|
|Representing:-|
|Opening|Balances|
|Trustees Funds at Grand Charity|1,577.38|1,559.27|
|Bar Reserves|12,019.26|7,609.72|
|Management Committee|12,727.07|40,164.80|
|Management Committee - Building Fund|6,536.58|8,771.37|
|32,860.29|58,105.16|
|(Deficit)/Surplus for year|-1,721.90|-25,224.87|
|Total Charitable Funds|31,138.39|32,880.29|
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Approved by the Trustees on 11 September 2024 and signed on their behalf by:
M Fuller Chairman
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The Margate Masonic Centre Benevolent Fund
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Accounting policies For the year ended 31 December 2023
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Income and expenditure
Income arising during the year is applied primarily in meeting the objects of the Trust, and any surplus is available to meet its objectives in future years. The deficit in the year has been funded from reserves built up over a number of years.
All income and expenditure is accounted for on an accruals basis.
Going concern
These financial statements have been prepared on a going concem basis.
Freehold Property
The property is used by the charity. The Trustees are obligated to ensure that the premises are well maintained and “fit for purpose’ and in light of this, the Trustees consider that the life of the freehold property and its residual value is such that no diminution of value is required..
The historic cost of the building and the cost of improvements since then has not been possible to verify and as such the Trustees have valued the centre at its Insurance Replacement Value which is £800,000.
Stocks
Stocks are valued at the lower of cost or resale value and relate to a bar facility which is available to users of the centre.
Cash at Bank and in hand.
Cash at bank and in hand includes cash deposits in an appropriate liquid investment with an ability to process these funds within 3 months.
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Independent
Benevolent Fund Examiner's for the year Report ended to the31 TrusteesDecember of 2023The Margate Masonic Centre
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| report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023, which are set out on pages 3 to 5.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the Charity's Trustees those matters | am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for my work or for this report. Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| réport in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
independent Examiner's atatement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1, accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 3. the accounts do not comply with the applicable requirements conceming the form and content of accounts sat out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
| have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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- Brian Portanler
Date Yh ; .
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