THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST REGISTERED CHARITY NUMBER 1064406 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 GEORGE HA Y & COMPANY Chartered Accountants 83 Cambridge Street Pimlico London SWI V 4PS
THE MASONIC PROVINCE OF MIDDLESFX CHARABLE TRUST CONTENTS Page General Infomiation Annual Review and Report of the Trustees Independent Examiner's Report Balance Sheet Statement of Financial Activities Notes to the Financial Statements 9-12
THE MASONIC PROVINCE OF MIDDLESEX CHAIUTABLE TRUST GENERAL INFORMATION REGISTERED CHARITY NUMBER 1064406 TRUSTEES Adrian Howorth {Deceased 25 May 2023) Peter Gledhill (Appointed as Chairnian 30 May 2023) David Chambers (Rired on 18th May 2023) Rajesh l Desai (Appointed on 14th July 2023) Sieph¢n Ramsay (Retired 13th December 2022) Warr¢n G¢ll (Appointed on 14th July 2023) David Yeaman Cdr Michael Goldthorpe BEM RN (Appoinled on 14th July 2023) CoSpondent Trustee Rajesh l Desai I Cmmwell Hill Luton LU2 7PY SECRETARY Rajesh l Desai TREASURER Warr¢n Gell BANKERS Barclays Bank PIC Wembley & Park Royal Branch Acorn House 36-38 Park Royal London NWIO 7JA INVESTMENr MANAGERS Walker Crips Investment Limited Old Chang¢ House 128 Queen Victoria Street London EC4V 4BJ ACCOUNTANTS George Hay & Company Chartered Accountants 83 Cambridge Street Pimlico London SWI V 4PS SOLICITORS Withers 12 Gough Square London EC4A 3DC REGISTERED OFFICE Provincial Office 148 London Road Twickenham Middlesex TWI IHD
THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST REGESTERED CHARITY NUMBER 1064406 ANNUAL REVIEW AND REPORT OF THE TRUSTEES YEAR ENDED 30TH SEPTEMBER 2023 Governing instrument The Charity was set up by means of a Trust Deed dated 19 August 1997. On 16 September 1997 th¢ Charity obtained charitable status under the Charities A¢1 1993, and it is r¢gislered as a charity under number 1064406. The Trustees have absolute discretion as to the investment policy of the Charity under the tern)s of the Trust Deed. Summary During the year, 26 charities received grants. The amounts dispersed to applicants represented 57Yo (2022 134010) of the Trust's income. The Trustee5 consider there is still Sufficient resilience in the Trust's finances to sustain the distributions of grants to charitable causes. The Trust has continued to promote its working identity as Middlesex Masonic Charity (MMC) Plnd io continue look for ways to make itself more accessible to applicants. Brief Deseriptioll of the MMC and its Objectives The MMC exists lo promole and support charitable giving to organisations primarily operating within the Provit]ce of Middlesex usually at the request of members of the Province. The objects of the MMC are wide rchIng as described by the temis of the original Trust Deed. - Ihe furtherance and promolion of such exclusively choritable obJeels and purposes a8 the Trustees may in thefir absolute dlscretlon think fit and in partieular (but withovt restriction) the relief of need? poverty and distress and the advancement of edueation of Freema8ons and their familie5.... The Trustees expect that. in the main, the funds of the MMC will be used to support objects of Provincial Charity, be they non-Masoni¢ ¢harities operating in the former County of Middlesex are8 or ¢h&rities enjoying special ¢onne¢tions with Middlesex Freemasonry. Jt is expected that charities applying for grants will be regislered with The Charity Commission although each case will be considered on its merits. Publ1¢ Benefit During the year IOO•/o of grants (2022 - 1000/ty) were made to non_masonic charities and in the Trustee's view the wide diversity of these grants indicates to them they have complied with the requirements of the Charities Act 201 I to have due regard to public benefit guidance published by the Charities Commission. Applleatton Pro¢es8 Lt is expe¢l¢d that Charities needing assistance will be supported by Lodges, Chapters or individuals bul they may apply directly. An application forn) is available from the Correspondent Trustee. Rajesh l D¢sai. and completed applications should be returned to him. The MMC will also accept applications made on the Universal Application Form, available from the Provincial website. All submissions must be made by completing the necessary application form and providing additional information, including two year's audited financial statements, sUPPOrting quolalion5 or invoices for proposed expenditure and relevant literature needed to enable the Trustees to reach a decision. MMC will also consider applications for 8SSiStance from Freemasons in distress or their families or dependants. However, these petitions should be submitled in the first instance to the Provincial Grand Almoner who will report wilh recommendations directly to the Trustees.
THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST ANNUAL REVIEW AND REPORT OF THE TRUSTEES YEAR ENDED 30TH SEvfEMBER 2023 (Continued) Investigation and Recommendations The Trustees seek reports on applications where necessary from suitably qualifi¢d Represenlatiyes. The Representativ¢s' reports make r¢commendation5 in such cases after having satisfied themselves regarding the merit5 of each application for assistance within the ternis of the Trust Deed. All applications are submitted to ihe Trustes for eon5ideration. The decision of the Tru51ees is final and no corresponden¢e or discussion will be entertained. Trustee Meetings The Trustees will consider applications through the year so if an urgent matter arises it may receive more immediate attenlion. The Trustees continue to make ext¢nsive us¢ of email ¢ommuni¢ations and electronic meetings to consider applicalions. Appli¢alions by individuals to MMC received fr()m the Provincial Grand Almonerwill be wnsidered when submitted by him. Trustees The first Trustees w¢re appointed by the R.W. Provincial Grand Master and subsequent Trustees are appointed by resolution of the Trustees, subject to approval in writing by the R.W. Provincial Grand Master. The Trustees who setved during the year to 30th September 2023 were: A. Howorth (Deceased on 25ih May 2023) P. Gledhill (Chairn)an) (Interlm from 30th May 2023. Formally appointed on 14th July 2023) D. Chambers (Correspondeni Trustee) (Retired on 18th May 2023) R. l. Desai (Correspondent Trustee) (Appointed on 14ih July 2023) S. Ramsay (Tregsurer) (Retir¢d 13th December 2022) W. Gell (Treasurer) {Appoinl¢d on 14th July 2023) D. Yeaman Cdr M. Golthhorpe BEM RN (Appointed on 14th July 2023) Policy on Reserves The Trustees, being cognisant of the requirements of the Charity Commissioners, are s0tisfi¢d that the level of reserves held in freely available funds (i.e. those not tied up in designated funds) are sufficient to ensure the uninterrupted running of the Trust for at least one year at the ¢urrent level of activity, should the income level fall or un¢xpected costs arise. Rlsk Management and Inveytment Powers The Trustees retain Walker Crips Inv¢stment Management Limited as their professional investment adviseTS. The focus of investment is medium to low risk in a balanced portfolio, but the Trustees are advised quarterly, or more frequently if appropriate, of opportunities to review investtnenls.
THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST ANNUAL REVIEW AND REPORT OF THE TRUSTEES YEAR ENDED 30TH SEwfEMBER 2023 (conlinued) Statement ofTrustees' R¢sponslbllltl¢$ The Trustees are responsible for preparing the Annual R¢port and the fjnancial statements in accordance with applicable law and regulations. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees must not approve the financial statements unless Ih¢y are satisfied that they give a true and fair view of ihe state of 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. th¢ Truste¢s are required to.. a) s¢l¢¢l suitable accounting policies and apply them consistently. b) obs¢rv¢ the methods and principles in the Charities SORP. c) make judgments and accounting estimates that are reasonabl¢ and prndent. d) stale whether applicable UK Accounting Standards hav¢ been followed. subject to any material departures disclosed and explained in the financial slalements. and e) prepare the financial statements onthe goingconcern basis unless it is inappropriate to presume that the charity will continue to operate. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any time th¢ financial position of the charity and enable them to ensure that the financial statements ¢omply with the Charities Act 2011, The Charities {A¢¢ounts and Reports) Regulations 2008 and the provistons 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. Flnoncial Statemellts Since the previous year, the world's stock markets have continued to face significt ¢conomic events throughout the world. The year-on-year comparison in portfolio values reveals a decrease of £23,787 to £1,975,598, a loss of1.190h. Income from investrnent5 reduc by £2,976 to £84,719, a fall of 3.390/0. The Trustees take the Investment Mw)agers advice to continue their policy of diversification into Funds and Trusts from individual stocks. The distribution of all the income wa5 in accordance with the Trust Deed requirements with granls of £49.150 being made against the combined income of £85,577. all the grants being for non-Ma50nic charities. The level of reserves at the year-end was £2,027,484 (2022: £2,019,853). A summary of the mov¢ment in th¢ inv¢stmenl portfolio appears in Not¢ 2 to these financial statements and a summary of the movement in r¢s¢rve5 in the Stal¢ment of Financial Activities. The Trustees have ¢oncluded that Ihe charity has sufficient reserves lo continue.
THE MASONIC PROVIF4CE OF MIDDLESEX CHARITABLE TRUST ANNUAL REVIEW AND REPORT OF THF. TRUSTEES YEAR ENDED 30Tr1 SEFfEMBER 2023 (cL)ntinued) CrAnts The Tst rtceivcd rcommettdations and application$ frthn anumt¢r of Bthr¢n and Chan"tics that 5lted in th approvat ofth¢ following Grants.. Gotdon Boume Bursary Hampers Liftlites Sufta NW LoJKlon salV10n Am]y HaOW Hillin8don Brain TumouT GTOUP Middx Teddies for loving Care 10.000 Boo 2.000 4,31)0 l.O(Kl 750 3,0(M) 750 I,ooo 500 500 500 500 500 1,500 250 2.800 3.000 10,000 2.8UO 1.000 250 250 250 375 375 Friends of l>riThce Mi¢hael of Kent Court Drnmatize Clwity The MulbemT Centr Hounslow ADi]na] Welf¢ Socicty 12th Enfield Sut Group Enfield Sea Scouts Richmond Borough MIND 2nd Uxbridge SwuL Sin8lc P¢TSons EME Music in Hospitsls St Mth's Ilospitsl London Hearts Shooting Star Children ddlcsex Association forthB Blind Shooting Star ChildTen Middx T¢ddies for Lovlng CaTe Vineyard Communty SPEAR London Total 4Y.150 -YLL.2¢2W attd signed on their l*hr by: Approved by the Tnte¢S on .. . ... . P¢t¢r Gledhill Chaimian
GEORGE HAY & Coinpcllly INDEPENDENT EXAMINER?S REPORT TO THE TRUSTEES OF THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST I report lo the Trustees on the financial statements of The Masonic Province of Middlesex Charitable Trust ('Ihe charily'}. for the year ended 30th September 2023 which comprise the Balan¢e She¢t, the Statement of Financial Activities. and related notes. This report is made solely to the charity's trustees, as a body, in accordan¢¢ with s¢clion 145 of the Charities Act 2011. My work has been undertaken so that I mIt slate to the Charity's trustees thos¢ Inatters l am required to stale to them in this report and for no other purpose. To the fullest extent pemitted by law, I do not accept or assume responsibility to anyone oth¢r than the charity and the charity's trustees as a body. for my work. for this report. or for the opinions I have fomjed. RespoDsibilitie5 and basis of repor¢ As the trustees of the charity. you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('Ihe Act,). I report in respect of my examination of the charity's finan¢ial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have ¢ompl¢led my examination. I confirni that no material matters have come to my attention in conneclion with th¢ examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the ¢harity as r¢quired by section 130 of the Act. or
the financial statements do not accord with those re¢ords' or the financial statements do not wmply with the applicable requirements concerning the forn) and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 oiher than any requirement that the a¢counts give a 'true and fair view, which is nol a inatter consider¢d as part of an independent examination. I have no ¢on¢erns and have come across no other matters in connection with the ¢xamination to which attention should be drawn in this report in order to enable a proper understanding of the financial atements to be reached. Marino Achilleos FCCA George Hay & Company Chartered Accountants 83 Cambridge Street Pimlico London SWI V 4PS Date..
THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST BALANCE SHEET AS AT 301H SEPTEMBER 2023 2023 2022 FIXED ASSErs Inveslments 1.975,598 1,999,385 CURRENT ASSETS Cash at Bank 58.516 33,869 CURREKf LIABILITIES Sundry Crethtors 6,630 (13 401 NET CURRENT ASSETS 51.886 20.468 NET ASSETS 2 027 484 REPRESEpifED BY UNRESTRICTED FUNDS 2.027,484 2,019,853 Approved by the Truses QD ..3. O_JV L- sigoed on th¢ir belthlf by.. .FEfvfjI.AviW...... P¢t¢r Gledhill Chairnian of TneS The notes on paBes 9 to 12 fomi part of these financial 5taments.
THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST STATEMENT OF FtNANCIAL AcfivJTIES FOR THE YEAR ENDED 30TH SEPTEMBER 2023 Notes 2023 2022 INCOME Donations and L¢gaci¢s: Donations frotn Lodges Bank Interest Receivable 567 291 4,525 64 Investments: Interest Income from Investments Dividend In¢orne from Investments 5,123 79,596 9.681 78,014 TOTAL INCOMING RESOURCES 85,577 92.284 EXPENDITURE Charitable Activities: Grants Payable (49.150) (124.113) Other Expenditure- Administration Costs Broker's Management Fees Jnd¢pend¢nt Examin¢r's F¢¢- Gov¢rnan¢¢ Costs (121) (4,989) {3,015) (148) (5,126) (1.591) TOTAL RESOURCES EXPENDBD {57,275) (130.978) NET tNCOMINGI(oiTfGOING) RESOURCES 28,302 (38.694) Re81ised and Unrealised Gains l (L055es) (20.671) (95.482) Net Movement in Funds 7,631 (134,176) Balan¢e Brought Forward 2,019,853 2,154,029 Balance Carried Forward 2.027.484 2.019,853 The notes on pages 9 to 12 fomi part of these financial statements. All discl(Y3ures relate onty to continuing operations. All recognised and unrealised gains or losses on the Investments for the year are included. as noted above.
THE ISoNIc PROVINCE OF MIDDLESEX CHARABLE TRUST NOTES TO THE FtNANCIAL STATEMENrs FOR THE YEAR ENDED 30TH SEPTEMBER 2023 ACCOUNTtNG POLICIES (a) Basis of Preparation The accounts of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) "Aecounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Finan¢i81 Reporting Standard appli¢able in the UK and Republic of Ireland (FRS 102) (effective l St January 2019)" Financial Reporting Standard 102 "The Financial R¢porting Standard applicable in the UK and Republi¢ of Ireland" and the Charities Act 2011. Th¢ accounts have be¢n prepared und¢r historical cost convention with items recognised at cost or transaction value unless otherwise stated in Ihe relevant notes(5) lo the accounts. (b) Fund Accounting Unrestricted funds are available for use al th¢ discretion of the Trustees in furtherance of the g¢n¢ral objectives of the Charity. (¢) In¢oming Resources Donations and granls receivable are ac¢ounted for as soon as their amount and receipt are ¢¢rt8in, which 15 usually on receipt. Income from fixed interest investments are recorded on an ac¢ruals b&8is. (d) Resources Expended The TTht is not regisl¢r¢d for VAT and accordingly all expenditure is shown gross, in¢lusive of VA T in the financial statements. Expenditure is accounted for as incurred and acciued. Grants payables are included al the earlier of the date of payment or when itTevocably notified to the recipient. (e) Fixed Asset Jnvestments Investments held for long-tern) investment purposes are stated at market value as al the balance sheet date. The Statement of Finan¢ial A¢livilies includes the realised and unrealised gains and losses arising on revaluation and disposals thrOuOt the year. Quoted stocks and shares are included al th¢ balance sheet date at mid-market price. excluding dividends.
THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 AccouwrtNG POLICJES (continued) (fj Investrnent Qains and Losses All gains and losses are laken to the Slalement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the carrying value at the year end and the opening market value (or purchase date if lal¢r). (g) Taxalion The Trust is exempt from corporation tax on its charitable a¢tiviti¢s. {h) Financial Instruments The Ttusl 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 its settl¢menl value. FIXED ASSET tNVESTMENTS Movements on investments in the year were.. 2023 2022 Market value at 1st October 2022 1.999.385 2.115.970 Additions Disposals Movement in fair value 84.296 (106,083) (2,000) 298,482 (286.688) (128,379) Market value at 30th September 2023 1.975,598 999 385 The value of investments includes £12.319 (2022: £15.361) h¢ld in Walker Crip5 deposit accounts. 10
THE MASONIC PROVINCE OF MIDDLESEX CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 DIRECT CHARITABLE EXPENDITURE 2023 2022 Gordon Bourne Bursary Hampers Lifelites Sufra NW London Salvation Amiy Harrow Hillingdon Brain Tumour Group Middx Teddies for Loving Care Harrow Carers Friends of Prince Michael of Kent Court Dramatixe Charity The Mulberry Centre Hounslow Animal Welfare Society 12th Enfield Scout Group Enfield Sea Scouts Richmond Borough MIND 2nd Uxbridge Scout Single Persons EME Music in Hospita]s St Mark's Hospital London Hearts Shooting Star Children Middlesex Association for th¢ Blind Shooting Star Children Middx Teddies for Loving Care Vineyard Community SPEAR London Afghanistan and Central Asian Association Mind in Harrow Carers Trust Hillingdon CHAPS Centre for ADHD & Autism Support (CAAS) Mind in Enfield & Barnet 13 Roxeih Scout Group Ukraine Appeal Middlesex Provinee Dementia UK London's Air Ambulance Charity The Soldier5 Sail Th¢ Handicapped Children'5 Action Group Happy Day5 Children's Charity Acorn Youth Club Feltham Be¢s Disabled Sports Club 10,000 800 2.000 4,500 1.000 750 3,000 750 1,000 500 500 500 500 500 1,500 250 2,800 3.000 10,000 2,800 1,000 250 250 250 375 375 1,000 2,500 2,500 5,000 4,885 5,000 12,000 8,257 2,500 7.500 2,700 1,000 1,000 613 ,000 793 8,115 5,000 5,000 li
THE MASONIC PROVIIYCE OF MIDDLESEX CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 DIRECT CHARITABLE EXPENDITURE 2023 2022 Harrow Gateway Hayes End Community Association Heathrow Special Needs Centre Ruth Winston Centre Tanglewood Monday Club Teddingham & Hatnpton Wick Voluntary Care The Penrose Club Together As One Proje¢t Thrn-over Hillingdon Autistic Care & Support Age UK 5,000 5,000 5,000 5,000 5.000 5.000 5,000 5,01)O 4,500 5,250 (2.000) 124,113 49.150 RESOURCES EXPENDED The TnteeS received no remuneration or pension contributions, nor were ihey reimbursed for out-of-pocket expenses during this year or the previous year. There were no employees on a full-time equivalent basis during this y¢ar or the previous year. SUNDRY CREDITORS Cr¢dilors falling due within one year: 2023 2022 Accruals for grants payable 9,750 Accrued expenses 6,630 3.651 12