Charity number: 1040230
Chatham District Masonic Trust
Unaudited
Trustees' report and financial statements
for the year ended 31 August 2022
Chatham District Masonic Trust
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and Advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
Chatham District Masonic Trust
Reference and administrative details of the Charity, its Trustees and Advisers for the year ended 31 August 2022
Trustees
J V Whyman, Chairman
M Cook, Treasurer
D Hiscock
D Merrick
S Peachell, Vice Chairman
R Stanley N Stephney
Charity registered number
1040230
Principal office
Chatham Masonic Hall 5 Manor Road Chatham Kent ME4 6AG
Secretary
G Fincham
Accountants
Kreston Reeves LLP Chartered Accountants Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU
Bankers
Nat West 148 High Street Chatham Kent ME4 4DB
Page 1
Chatham District Masonic Trust
Trustees' report for the year ended 31 August 2022
The Trustees present their annual report together with the financial statements of the Charity for the year from 1 September 2021 to 31 August 2022.
Objectives and activities
a. Policies and objectives
The principle activity of the Charity is the running of the Masonic Centre at Manor Road, Chatham. The object of the Charity is the relief of such poor distressed freeemasons under the Constitution of the United Grand Lodge of Ancient Free and Accepted Masons of England or their poor and distressed widows and children or for the benefit of such Masonic Charities or other non-Masonic charitable institutions, societies and objects as the trustees shall in duly constituted meetings from time to time direct.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Review of activities
The Charity has made a deficit in this financial period of £626 (2021: £12,250), with income increasing to £27,487 (2021: £16,749), whilst expenditure decreased to £28,113 (2021: £28,999).
The vast majority of the lodges survived the Covid-19 pandemic and the Centre was able to re-open with the franchisees still in place.
We continued to support both local (Headway Medway) and national charities (RBL Salvation Army and Red Cross) during the year.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Charity aims to retain a minimum of twelve months' expenditure in general reserves. This equates to approximately £30,000. Currently the Charity has free reserves of £32,888 (2021: £31,885).
Structure, governance and management
a. Constitution
Chatham District Masonic Trust is a registered charity, number 1040230, and is constituted under a Trust deed dated 28 June 1994.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Page 2
Chatham District Masonic Trust
Trustees' report (continued) for the year ended 31 August 2022
Structure, governance and management (continued)
c. Risk management
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. These include all health and safety risks within the centre and adequate provision for disabled visitors and full induction of all Trustees with clear roles defined to ensure compliance with the appropriate legislation.
Plans for future periods
The Trustees will continue to support the activities of the Charity for the foreseeable future. The Charity's operations are now getting back to normal and we thus expect that things will improve greatly in the future.
Statement of Trustees' responsibilities
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 in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its income and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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 and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
J V Whyman Chairman Date:
Page 3
Chatham District Masonic Trust
Independent examiner's report
for the year ended 31 August 2022
Independent examiner's report to the Trustees of Chatham District Masonic Trust ('the Charity')
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity'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 section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set 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.
I have no concerns 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.
Signed: S Robinson
Dated: BA FCA FCIE DChA
Kreston Reeves LLP
Chartered Accountants Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU
Page 4
Chatham District Masonic Trust
Statement of financial activities for the year ended 31 August 2022
| Note Income from: Donations and legacies 3 Investments 4 Other income 5 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 4,556 19,809 3,122 27,487 26,913 26,913 574 66,241 574 66,815 |
Total funds 2022 £ 4,556 19,809 3,122 27,487 26,913 26,913 574 66,241 574 66,815 |
Total funds 2021 £ 1,843 14,906 - |
|---|---|---|---|
| 16,749 28,999 |
|||
| 28,999 (12,250) 78,491 (12,250) |
|||
| 66,241 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 14 form part of these financial statements.
Page 5
Chatham District Masonic Trust
Balance sheet as at 31 August 2022
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total net assets Charity funds Unrestricted funds 11 Total funds |
9,654 25,365 35,019 (931) |
2022 £ 32,727 34,088 66,815 66,815 66,815 |
9,015 23,602 32,617 (732) |
2021 £ 34,356 31,885 |
|---|---|---|---|---|
| 66,241 | ||||
| 66,241 | ||||
| 66,241 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
J V Whyman Chairman Date:
The notes on pages 7 to 14 form part of these financial statements.
Page 6
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
1. General information
Chatham District Masonic Trust is a registered charity, number 1040230, and is constituted under a Trust deed. The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the charities operations and principal activities are set out on page 2 of these financial statements.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Chatham District Masonic Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in British Sterling and are rounded to the nearest Pound.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Page 7
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
2. Accounting policies (continued)
2.4 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
- Freehold property 50 years straight line - Plant and machinery 4 years or 10 years straight line - Fixtures and fittings 10 years straight line
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 8
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
2. Accounting policies (continued)
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.11 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.
3. Income from donations and legacies
| Donations Medway Council Covid-19 grant Membership fees and other similar income Total 2021 |
Unrestricted funds 2022 £ - 4,000 556 4,556 1,843 |
Total funds 2022 £ - 4,000 556 4,556 1,843 |
Total funds 2021 £ 1,435 - 408 |
|---|---|---|---|
| 1,843 | |||
Page 9
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
4. Investment income
| Income from property Bank interest Total 2021 5. Other income Miscellaneous income |
Unrestricted funds 2022 £ 19,807 2 19,809 14,906 Unrestricted funds 2022 £ 3,122 |
Total funds 2022 £ 19,807 2 19,809 14,906 Total funds 2022 £ 3,122 |
Total funds 2021 £ 14,905 1 |
|---|---|---|---|
| 14,906 | |||
| Total funds 2021 £ - |
6. Analysis of expenditure by activities
| Charitable activities Total 2021 |
Support costs 2022 £ 26,913 28,999 |
Total funds 2022 £ 26,913 28,999 |
Total funds 2021 £ 28,999 |
|---|---|---|---|
Page 10
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation General expenses, licences etc. Accountancy fees Rates and water Insurance Light and heat Repairs and maintenance Premises expenses Loss on disposal of fixed assets Donations Total 2021 |
Unrestricted funds 2022 £ 5,551 1,187 900 8,338 1,803 3,632 4,356 698 320 128 26,913 28,999 |
Total funds 2022 £ 5,551 1,187 900 8,338 1,803 3,632 4,356 698 320 128 26,913 28,999 |
Total funds 2021 £ 6,783 485 732 3,644 1,313 2,019 2,761 1,232 30 10,000 |
|---|---|---|---|
| 28,999 | |||
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 31 August 2022, expenses totalling £78 were reimbursed or paid directly to 1 Trustee (2021 - £NIL to any Trustee). The expenses related to repairs and renewals.
Page 11
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
8. Tangible fixed assets
| Cost or valuation At 1 September 2021 Additions At 31 August 2022 Depreciation At 1 September 2021 Charge for the year At 31 August 2022 Net book value At 31 August 2022 At 31 August 2021 Debtors Due within one year Trade debtors Prepayments and accrued income |
Freehold property £ 26,598 - 26,598 5,490 532 6,022 20,576 21,108 |
Plant and machinery £ 35,471 3,922 39,393 28,307 2,881 31,188 8,205 7,164 |
Fixtures and fittings £ 24,114 - 24,114 18,030 2,138 20,168 3,946 6,084 2022 £ 8,454 1,200 9,654 |
Total £ 86,183 3,922 |
|---|---|---|---|---|
| 90,105 | ||||
| 51,827 5,551 |
||||
| 57,378 | ||||
| 32,727 | ||||
| 34,356 | ||||
| 2021 £ 9,015 - |
||||
| 9,015 |
9. Debtors
10. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2022 £ 31 900 931 |
2021 £ - 732 |
|---|---|---|
| 732 |
Page 12
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General funds Statement of funds - prior year Unrestricted funds General funds |
Balance at 1 September 2021 £ 66,241 Balance at 1 September 2020 £ 78,491 |
Income £ 27,487 Income £ 16,749 |
Expenditure £ (26,913) Expenditure £ (28,999) |
Balance at 31 August 2022 £ 66,815 |
|---|---|---|---|---|
| Balance at 31 August 2021 £ 66,241 |
12. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 32,727 35,019 (931) 66,815 |
Total funds 2022 £ 32,727 35,019 (931) |
|---|---|---|
| 66,815 |
Page 13
Chatham District Masonic Trust
Notes to the financial statements for the year ended 31 August 2022
12. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 34,356 32,617 (732) 66,241 |
Total funds 2021 £ 34,356 32,617 (732) |
|---|---|---|
| 66,241 |
13. Related party transactions
The Charity has not entered into any related party transactions during the financial year, and at the Balance Sheet date there are no balances outstanding with any related parties.
Page 14