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2020-12-31-accounts

Charity Registration No. 1141630

THE MASONIC FISHING CHARITY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE MASONIC FISHING CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees John Clough Richard Shirley Mike Purdy Michael Higginbotham Mark Vincent James Young Haydn Hughes Ken Endres Charity number 1141630 Independent examiner David Graham Associates Ryefield Court 81 Joel Street Northwood Hills Middx HA6 1LL

THE MASONIC FISHING CHARITY

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 8

THE MASONIC FISHING CHARITY

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their report and financial statements for the year ended 31 December 2020.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Deed of Trust, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The objects are to bring an interactive fishing and countryside experience to disadvantaged, mentally handicapped, or physically disabled persons in England and Wales, thereby providing the participant with healthy recreation and relief from their suffering occasioned by their health conditions, disability or disadvantaged situation.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The charity is organised by branch within the respective Masonic province, and the intention is to develop the charitable work undertaken by each existing branch, and to extend the operation to each part of England and Wales by the formation of new branches.

Financial review

The charity's income is dependent upon donations to fund its activities, and the Trustees very much appreciate the continued support received from Provincial and Metropolitan Masonic sources.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between six and nine month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity was formed as by a Declaration of Trust on 4 January 2011 and registered as a charity by the Charity Commission on 28 April 2011.

The charity succeeds the former Masonic Trout and Salmon Fishing Charity which was formed on 3 February 2003, and registered by the Charity Commission (1103882) on 21 May 2004. The assets of the Masonic Trout and Salmon Fishing Charity were transferred to The Masonic Fishing Charity on 1 January 2012, and the existing activities were then undertaken by the new charity.

The Trustees who served during the year and up to the date of signature of the financial statements were: John Clough Richard Shirley Mike Purdy Michael Higginbotham Mark Vincent James Young Haydn Hughes Ken Endres

The Trustees' report was approved by the Board of Trustees.

THE MASONIC FISHING CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Mike Purdy Trustee Dated: 21 February 2021

THE MASONIC FISHING CHARITY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MASONIC FISHING CHARITY

I report on the financial statements of the charity for the year ended 31 December 2020, which are set out on pages 4 to 8.

Respective responsibilities of Trustees and examiner

The charity’s Trustees are responsible for the preparation of the financial statements. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) 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 now been withdrawn.

I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:

David Graham Associates

Chartered Certified Accountant Ryefield Court 81 Joel Street Northwood Hills Middx HA6 1LL

Dated: 21 February 2021

THE MASONIC FISHING CHARITY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
funds
2020
Notes
£
Income from:
Donations
3
33,658
Investments
4
16
Total income
33,674
Expenditure on:
Charitable activities
12,351
Net income for the year/
Net movement in funds
21,323
Fund balances at 1 January 2020
261,369
Fund balances at 31 December 2020
282,692		 Total
2019
£
82,996
17
83,013
70,705
12,308
249,061
261,369

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE MASONIC FISHING CHARITY

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Current assets
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within
one year
8
Net current assets
Income funds
Unrestricted funds		 2020
£
-
282,692
282,692
-		 £
282,692
282,692
282,692		 2019
£
895
261,320
262,215
(846)		 £
261,369
261,369
261,369

The financial statements were approved by the Trustees on 21 February 2021

Mike Purdy Trustee

THE MASONIC FISHING CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

The Masonic Fishing Charity was formed as by a Declaration of Trust on 4 January 2011 and registered as a charity by the Charity Commission on 28 April 2011

1.1 Accounting convention

The accounts have been prepared in accordance with the Charities Act 2011, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE MASONIC FISHING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations

2020 2019
£ £
Donations 33,658 82,996

THE MASONIC FISHING CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4 Investments

Unrestricted Total
funds
2020 2019
£ £
Interest receivable 16 17

5 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year.

6 Employees

There were no employees during the year.

7 Debtors

Amounts falling due within one year:
Other debtors
8
Creditors: amounts falling due within one year
Trade creditors		 2020
£
-
2020
£
-		 2019
£
895
2019
£
846