LONDON FREEMASONS, CHARITY Financial Statements Year Ended 30 September 2024 Charity registration number: 1081205
LONDON FREEMASONS, CHARITY Financial Statements Year Ended 30 September 2024 Contents Page Charity Refence and Administrative Details Report of the Chairman of the Executive Committee Report of the Executive Committee Independent Auditorfs Report Statement of Financial Activities Balance Sheet Statement of Cash Flov Notes to the Financial Statements 11 12 13 14
LONDON FREEMASONS, CHARITY Charity Reference and Administrative Details Year Ended 30 September 2024 Charity reglstration number 1081205 Trustees Quentin Charles Triscott Humberstone Stratton Richey James Michael Walker Roderic Drynan Glyn-Thomas Stuart John Sheriff Geoffrey Jame5 Waddoups Robert Whitelaw (appointed 6 March 2024) Chalnnan Stratton Richey Treasurer Quentin Charles Triscott Humberstone Prlnclpal office 60 Great Queen Street PO Box 29055 London WC2B 5AZ Audltor PKF Littlejohn LLP statutory Auditor 15 Westferry Circus Canary Wharf London E14 4HD Bankers Barclays Bank PIC Fleet Street Corporate Banking 83-117 Euston Road London NW12BB Metro Bank PIC No 1 Southampton Row London WC1B SHA Investment managers CCLA Investment Management One Angel Lane London EC4R 3AB
LONDON FREEMASONS, CHARITY Report of the Chairman of the Executive Committee Year Ended 30 September 2024 l am blown away by the speed at which the fijnds came in to help us to help those who save lives from London's Air Ambulance. I have seen this happening on 8 very much first-hand basis. While the £3m was the focus in London you may not have been aware that your LFC has been continuing to give grants to smaller London based charities, to a tune of more than £1 m in the past three years. During this period very little funds have come in to LFC from Lodges and Chapters. malnly due to the appeal. I need to look at replenishing those funds. l ask, with humility, that you consider, now, making some donations into LFC so we can continue to help smaller and very local London charities to continue their work in the community. l am still shocked by the amount silting in Relief Chest in London, over £3m sitting idle. These funds have presumably been raised in lodges and Chapter with the aim of doing good and passing on lo charities. l ask everyone to ask their Relief Chest reps, treasurer or Secretary 'what are we doing with these funds,. We can make a big difference to other people's lives if we move these funds along. it's what the fvnds were raised for after all. The LFC Relief Chest is E2058 or use LFC. I can also supply on request the BACS details. Stratton Riche Chaimian of London Froemasons, Charity, the ¢harlty of London Froemasons
LONDON FREEMASONS, CHARITY Report of the Executive Committee Year Ended 30 September 2024 The Executive Committee present their report and the audited financial statements of the charity for the year ended 30 September 2024. The Executive Committee have adopted the provisions of the Statement of Recommended Practice "Accounting and Reporting by Charities" ("SORP") in preparing the annual report and financial statements of the charity. The flnancial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and the SORP as applicable from 1 January 2019. Trustees of the charlty The Trustees of the charity are its Executive Committee for Ihe purposes of charity law. The trustees who have served during the year and since the year end were as follows.. Quentin Charles Triscott Humberstone Stratton Richey James Michael Walker Roderic Drynan Glyn-Thomas Stuart John Sheriff Geoffrey James Waddoups Robert Whitelaw (appolnted 6 March 2024) Structure, Governance and Management: Con8titutlon The London Freemasons, Charity (LFC) (previously Metropolitan Masonic Charity) is an unincorporated association, constituted by its Trust Deed dated 22 March 2000. It is a charity registered in England and Wales, registered charity number 1081205. Appolntm•nt of the Executlve Commlttee The management of the LFC is the responsibility of the Executlve Committee, who comprise the Trustees of the Charity. The Executive Committee are elected at the Annual General Meeting and hold office from the conclusion of that meeting, under the lerms of the Trust Deed. Related Parties The Metropolitan Grand Lodge of London ('MetGL), from time to time selects charlties where its support wlll produce signifScant results. MelGL requests London Lodges. Chapters and indivlduals to make charitable donations to LFC for onward transrnlssion to these selected charities. Risk Management The Committee has continued to examine the major strategic, business and operational risks which LFC faces and confirm that systems have been established to enable regular reports to be Pfoduced so that the necessary steps can be taken to lessen these risks.
LONDON FREEMASONS, CHARITY Report of the Executive Commlttee Year Ended 30 September 2024 Objectives and actlvities Policies and ob-ectives The furlherance and promotion of such exclusively charitable purposes as the Executive Committee may In its absolute discretion, from time to time determine and in particular (but without restriction) the relief of need of poverty or distress or the advancement of education. LFC exists to encourage charitable giving among London freemasons. In furtherance of this aim, LFC acts as a collection point for donations to designated charities from London Lodges, London Chapters and individuals in order to relieve the designated charity of this administrative task. Public b•neflt Statement The Trustees have referred to the Charity Commission's general guidance on public benefit when revi1ng the Charity's aims and objectives and in plannlng future activities. Achlevements and performance MetGL, London Lodges and Chapters continue their generous support. Donations received and collections for unrestricted funds amounted to £93,295 (2023.. £124,968). In addition, restricted funds of £2,016,404 (2023.. £639,585) were received. Total expenditure incurred by the charity afflounted to £2,585,242 (2023: £706,673) which Included grants of £364,987 (2023: £172,420) In respect of unrestricted funds made to London charities. and £2,200,000 (2023-. £500.000) granted from restricted funds to London Air Ambulance. Flnancial review (including reserves policy) LFC is maintaining unrestricted funds which now total £1,754,437 (2023.. £1,878,854) to allow the Commlttee to exercise its discretion to support olher charitable causes. The Committee seeks to increase unrestricted funds to allow promotion of charitable purposes as the Committee in its discretion may determine. Plans for future periods The Committee expects activities in 2024-25 to be slmilar to the current year. Trustee's r6spon8lbilltlog The trustees are responsible for preparing the trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom generally accepted accounting practice (UK GAAP)). The law applicable to charities in England and Wales 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 and of its incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
LONDON FREEMASONS, CHARITY Report of the Executive Commlttee Year Ended 30 September 2024 The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure thal the financial statements comply with the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. 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. On behalf of the board James Walker, Trustee Date:
LONDON FREEMASONS, CHARITY Independent Auditor's Report Year Ended 30 September 2024 INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF LONDON FREEMASONS, CHARITY Oplnlon We have audited the financial statements of London Freemasons, Charity (the 'charity') for the year ended 30 September 2024 which comprise the Statement of Flnancial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in thelr preparation is applicable law and United Kingdom Accountlng 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 30 September 2024, and of its incoming resources and application of resources. including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance wlth the requirements of the Charities Act 2011. Ba81s for oplnlon 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 responsibillties In accordance with these requirements. We believe that the audit evidence we have obtained Ss sufficient and appropriate to provide a basis for our opinion. Conclu8lon$ relating to golng con¢ern In audlting the financial statements, we have concluded that the trustees, use of the going concern basls of accounting In the preparation of the flnancial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditlons that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financlal statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Othér information The other informalion comprises the information included in the reF)Ort of the Executive Committee. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the report of the Executive Committee. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsister7t with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determlne whether this gives rise to a material mlsstatement in the financial statements themselves. 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.
LONDON FREEMASONS, CHARITY Independent Auditor's Report Year Ended 30 September 2024 We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require 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 explan8tlons we require for our audit. Responslbllities of trustees As explained more fully In the trustees, responsibilities statement. the trustee5 are responsible for the preparation of financial statements which 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 financlal statements. the trustees are responsible for assesslng the charity's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and uslng 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 responsibllities for the audlt of the financlal Statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 opinlon. 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, indivldually or in the aggregate, they could reasonably be expected to intluence the economlc decisions of users taken on the basis of these financial statements. Irregularities, includlng fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilitles, 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.. We obtained an understanding of the charity and the sector in which it operates to identify laws and regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our understsnding in this regard through discussions with management, application of cumulative audit knowledge and experien of the sector. We determined the principal laws and regulations relevant to the charity in this regard to be those arising from Charities Act 2011 and Charities (Accounts and Reports) Regulations 2008. We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the charity with those laws and regulations. These procedures included, but were not limited to enquiries of management and review of minutes.
LONDON FREEMASONS, CHARITY Independent Auditor's Report Year Ended 30 September 2024 We also identified the risks of material misstalement of the financial statements due to fraud. We did not consider there to be any risks, in addition to the non-rebuttable presumption of a risk of fraud arising from management override of controls. As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited to.. the testing of journals-, reviewing accounting estimates for evidence of bias., and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the evenls and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non- com pliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. A further description of our responslbilities for the audit of the financlal statements is located on the Financial Reporting Council's website at.. www.frc.or auditor's report. .UaUditorSreS onsibilities. This description forms part of our Us• of our report This report Is made solely to the charity's trustees, as a body, in accordance wlth Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charity's 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 charlly and the charity's trustees as a body, for our audit work, for this reporl, or for the opinlons we have formed. PKF Littlejohn LLP Statutory Auditor 15 WestFerry Circus Canary Wharf London E14 4HD 2025 PKF Littlejohn LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006 10
LONDON FREEMASONS, CHARITY statement of Financial Activities Year Ended 30 September 2024 2024 Unrestricted Restricted funds funds 2023 Total Total Note InGome from: Donations and legacies Investments 93,295 57,200 2,016,404 2,109,699 57,200 764.553 44,697 Totsl Income 150,495 2,016.404 2,166,899 809,250 Expendlture on: Charitable activities other activities (379,971) (2,200,000) (2,579,971) (5,271) (5,271) (686,786) (19,887) Total expenditur• (385,242) (2,200,000) (2,585,242) (706,673) Net gains on investments Gain on disposal of investments 162,797 2,104 162,797 2,104 40,187 Net {expondlture)Ilncome (69,846) (183,596) {253,442) 142,764 Transfers between funds (54,571) 54,571 Net movement in funds (124,417) (129,025) (253,442) 142,764 Reconclllatlon of funds: Total funds brought forward 1,878,854 195,965 2,074,819 1,932.055 Total fund8 ¢arrled forward 11 1.754,437 66,940 1.821,377 2,074,819 All income and expenditure derives from continuing 8Ctivlties. The statement of financial activities includes all gains and losses recognised during the year. The notes on pages 14 to 20 form part of these financial statements.
LONDON FREEMASONS, CHARITY Balance Sheet Year Ended 30 September 2024 2024 2023 Fixed assets Investments Note 1,693,344 1,567.906 Current ass•t8 Debtors Cash at bank and in hand 1,693,344 1,567,906 107,340 31,889 210.022 314,477 139,229 524,499 Credltors: amounts falling due within one year Net current assots 10 (11,196) (17,586) 128,033 506.913 Total a8S•ts less currènt liabillties 1,821,377 2,074,819 Charlty Funds Unrestricted funds Restricted funds 1,754,437 66,940 1,878,854 195,965 Total charlty fund8 11 1.821,377 2,074,819 The financial statements were approved and authorised for issue by the Board on Signed on beh8lf of the Board of Trustees 2025. Stratlon Richey, Trustee Quentin Humberstone, Trustee Date.. The notes on pages 14 to 20 form part of these financial statements. 12
LONDON FREEMASONS, CHARITY SLgtement of Cashflows Year Ended 30 Soptember 2024 2024 2023 Note Cash flow from operating activities: Net cash flow (usad In} generated from operating actlvitles (a) (379,251) 28,638 Cash flow from Investlng activltles Dividends and interest from investments Cash reiVed on disposal of inv8Stments Purchase of investments 57,200 20,000 44,697 (1,494,265) Net ¢a8h flow provlded by Investing actlvlti 77,200 (1,449,568) Change In cash and cash equlvalents In the reportlng perlod Cash and cash equivalents In the beginning of the reporting period (302,051) (1,420,930) 347,931 1,768,861 Cash and cash equivalents at the end of the reporting perlod 45,880 347,931 Cash and cash equlvalents consists of: Cash at bank and in hand Cash held by investment manager 31,889 13,991 314,477 33,454 Cash and cash equivalent8 45,880 347,931 (a)Reconclliatlon of not expenditur• to net cash flows from operatlng actlvities Not (expendlture)lincom8 (253,442) 142,764 Adjustments for: Dividends and interest from investments Net gains on investments Gain on disposal of investments Decrease in debtors Decrease in creditors (57,200) (162,797) {2,104) 102,682 6,390 {44.697) (40,187) 134,809 164,051 Net cash provided (used in)Ifrom oporatlng actlvltles 379,251) 28,638 The notes on pages 14 to 20 form part of these financial statements 13
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 Summary of signiflcant accountlng policies (a) General information and basis of preparation The charity con*itutes 8 public benefit entity as defined by FRS 102. The financial statements have been prepared 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102). the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) applicable from 1 January 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements are prepared on a going concern basis under the historical cost convention modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The trustees do not consider there to be any areas of significant judgement or areas of uncertainty in the preparation of these financial statements The significant accounting pol icies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. {b) Funds Unrestricted funds are avallable 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. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged agalnst the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. (cl Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charlty is legally entitled to the income, after any performan conditions have been met, when the amount can be measured reliably and when it is probable that the income will be received. Income from donations is recognised on receipt, unless there are conditions attached to the donation that require a level of performance before entitlement can be obtained. In this case income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. 14
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 (c) Income recognition (continued) Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends and interest. Dividend and rent income is recognised as the charity's right to receive payment is established. (d) Expendlture recognltion All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: Grants payable to third parties are included in expenditure on charitable activities. Where unconditional grants are made, these amounts are recognised when a constructive obligation is created, typically when the recipient is notified that a grant will be made to them. Where grants are conditional on performance, then the grant is only recognised once any unfulfilled conditions are outside of the control of the charity. Expenditure on charitable activitles includes administration costs and governance costs. Governance costs are those costs relating to compliance with constitutional and statutory requirements, costs of secretarial services for meetings of the trustees, Value added tax is not recoverable by the Charity and as such Is included in the Statement of Financial Activities (e) Investment8 Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet dale using the closing quoted market price. The investment portfolio does not acquire put optlons, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatllity in equity markets and investment market5 due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the di1Fference between sales proceeds and their opening carrying value of their purchase price if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the statement of Financial Activities. (fj 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. (g) Going concern The Trustees consider the charity to be a going concern for at least 12 months from the date at which the financial statements have been signed. 15
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 Income from investments 2024 2023 Bank interest re1vable Dividend receivable 9,839 47,361 522 44.175 57,200 44,697 Analysis of expendlture on charltable actlvitles 2024 2024 Unrestricted Restricted 2024 Total 2023 Total Non- Masonic Charities Acts'on fof Kids Charitable Trust Adult Llleracy Trust Attend Brainwave Centre Bromley Merp CHAPS Clty Harvest CHAPS Testlng Country Foods Trnsl Global Skllls Centre Go Live Theatre Prolects Good Vibrallons Happy Days Chlldrens Charlty Harrow Carers Horalios Garden Horse Rangers Assoclallon Isllnglon & Stoke N8wnglon Sea Cadets Launch 11 Trust Lennox Chlldrens Canc8r Let Me Know Lifellles Llnk Ago Southwark London A6r Ambulance London Search & Rescue Loughborough Junction AGtion MasoniG Almoner5 Fund- Grants Match Funded Grants Maths Master Merton MerKap Music in Hospitals and Care Open Age Park Lane Stables Sense School Home Support Sl Marks Hospital Foundaoon Slrongbones Children The Healthcare Workers The Sequel Trust The Ulysses Trust Womens Trust W4 Youlh Young Lives v Cancer Tower Hamlets Parents Centre Llnk Age Soulhwark Schwl Home Support SeNcp Happy Days Children Charity Total donatlons pald in the year 10.CKIO 6.508 3.000 10,000 8.508 2,500 9,850 13,390 10,000 2,49J 5,000 10.000 4.500 4.470 4,470 7.151 7.151 6.000 6,000 4,000 3,000 10,CiK) 2.500 5.000 10,000 28.500 10,000 10,000 26,500 10.fN)O 9,090 400 8,942 500,000 2,200.000 2,200.000 8,194 8,194 14.027 164.225 3,500 5,000 3.O¢X) 18,275 25,769 14.027 164.225 3,500 5,000 5,000 6.514 lo,0() 5.000 10,000 5,000 5,000 2.500 6,000 2,0(X) 25.000 10,000 5,000 5,0 2.500 6.000 2,000 25.000 10,000 s.0 200 3.912 5.OlX) 5,000 5.000 3.912 5.000 5.000 5,000 364,987 2.200,0(KI 2.564,987 672,420 16
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 Other Charitable Actlvities Contributlon towards the running 515 of Melropolltan Grand Lodge 14.984 14,984 14.366 379,971 2.200,000 2,579.971 686.786 19.887 vernance costs 5.271 5.271 385.242 2,200,000 2,585,242 706,673 Governance costs 2024 2023 Auditor's remuneration Charity Costs reception Bank charges Write off of old balances 3,972 939 360 4,620 2,812 420 12,035 19.887 5,271 Audltor's remuneratlon The auditor's remuneration excluding VAT amounts to an audit fee of £3,972 (2023- £3,850). Trustees. and key management personnel remuneration and expen808 The Trustees consider themselves as comprising the key management personnel of the Charity, in charge of directing and controlling the Charity. The Trustees neither received nor waived any remuneration during the year (2023.. £Nil). Staff costs and èmployee ben6flts Daily administration costs are borne by Metropolitan Grand Lodge of London. The management charges for the year amounted to £14,984 (2023.. £14,366). 17
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 Fixed asset investments 2024 2023 Market value at 1 October Acquisition Disposal Net gain on reValUaton 1,534.452 1,494,265 {17,896) 162,797 40,187 1,679,353 1,534,452 PortFolio cash held by inv8Stment manager 13.991 33,454 Market value at 30 September 1,693,344 1,567,906 Historlcal Cost 1,482,104 1,500,000 Debtors 2024 2023 Grand Charity Relief Chest Metropolitan Grand Lodge of London Other Debtors 66,958 24,616 15,766 165,547 21,495 22,980 107,340 210,022 10 Crodltors: amounts falllng du• withln one year 2024 2023 Other Creditors 11,196 17,586 11,196 17,586 18
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 11 Fund reconclllation Unrestricted funds Balan at 1 October 2023 Gains I (losses) Balance at 30 September 2024 Income Expenditure Transfers Unrestricted 1,878,854 150.495 (385.242) (54,571) 164,901 1,754,437 1,878,854 150,495 {385,242) (54,571) 164,901 1,754,437 Balance 8t 1 October 2022 Income Expenditure Gains I (losses) Balance at 30 September 2023 Transfers Unrestricted 1,875,675 169.665 (206,673) 40,187 1,878,854 1,875,675 169,665 (206,673) 40,187 1,878,854 Restrlcted fund8 Balance at 1 October 2023 Gains I (losses) Balan at 30 September 2024 Income Expenditure Transfers St John at Hackney Lodge London Air Ambulance Others 56,380 56,380 131,745 2.013,684 (2,200,000) 54,571 7,840 2.720 10,560 195,965 2,016,404 2,200.000 54,571 66,940 19
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 Balance at 1 October 2022 Gains I (losses) Incorne Balance at Expenditure Transfers September 2023 St John at Hackney Lodge London Alr Ambulance Others 56.130 56,380 631,745 (500,000) 131,745 7,840 7,840 56,380 639,585 500,000 195,965 12 Analy818 of net assots between funds 30 Septomber 2024 Unrestricted Restricted funds funds Total Investments Current assets Current liabilities 1,693,344 72.289 (11,196) 1.693,344 139,229 (11,196) 66,940 Total 1,754,437 66,940 1.821,377 30 September 2023 Unrestricted Restricted funds funds Total Investments Current assets Current liabilities 1,567,906 328,534 (17,586) 1,567,906 524,499 (17,586) 195,965 Total 1,878,854 195,965 2,074,819 13 Flnancial commitments There were no commitments as at the year ended 30 September 2024 or in the previous year. 14 Taxation The London Freemasons, Charity is a registered charity and is therefore potentially exempt from taxation of its income and gains as it falls within the definition of a charity as defined in Part 1, Schedule 6of the Finance Act 2010. No tax charge has arisen during the year. 20
LONDON FREEMASONS, CHARITY Notes to the Financial Statements Year Ended 30 September 2024 15 Related party transactions and ex gratia payments Members of the Committee are selected from members of Metropolitan Grand Lodge of London (MetGL). Reference is made to MetGL in the Report of the Executive Committee. At the year end, net balance of £24,616 was due from MetGL (2023.. due £21,495). During the year, a contribution of £14,984 was made towards the running costs of MetGL {2023'. £14,366) and this is Included within expenditure. 16 Flnanclal instruments The chsrity holds a number of financial assets namely investments, debtors and cash and financial liabilities namely creditors and accruals which meet the definition of basic financial instruments under the FRS 102 SORP. Details of the measurement bases, accounting po5icies and carrying values for these financial assets and liabilities are disclosed in note 1 above. 21