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2020-12-31-accounts

The Moose International Welfare Service Fund (“the CIO”) Report of the Charity Trustees and Financial Statements For the Year Ended

31[st] December 2020

Brooking Ruse, Chartered Accountants, 2 Stafford Place, Weston-super-Mare, Somerset, BS23 2QZ.

The Moose International Welfare Service Fund (“the CIO”)

Report and Financial Statements for the Year Ended 31[st] December 2020

Index Page
Essential Information 1
Statement of Responsibilities of the Charity Trustees 2
Independent Examiner’s Report 3
Report of the Charity Trustees 4
Charitable Funds Balance Sheet 5
Notes to the Financial Statements 6 - 8
Charitable Funds Statement of Financial Activities 9

The Moose International Welfare Service Fund (“the CIO”)

1

Report of the Charity Trustees and Financial Statements

For the Year Ended 31[st] December 2020

Charity Information

Trustees A.G. Harries (Chairman)
M.E. Dunne
K. Jenkins
R.M.L. Williams
Secretary R.M.L. Williams
Central Office The Lighthouse Suite
Manor House
Manor Road
Burnham-on-Sea
Somerset
TA8 2AS
Auditors Brooking, Ruse & Co. Limited
Chartered Accountants & Registered Auditors
2 Stafford Place
Weston-super-Mare
Somerset
BS23 2QZ

The Moose International Welfare Service Fund (“the CIO”)

2

Statement of Responsibilities of the Charity Trustees

Year Ended 31[st] December 2020

The Charity Trustees are required by law to produce Financial Statements of the CIO every year which give a true and fair view of the state of affairs of the CIO at the end of the year and the results for the year then ended.

In preparing these Financial Statements the Charity Trustees are required to select suitable accounting policies and then to apply them on a consistent basis, making judgements and estimates which are prudent and reasonable. The Charity Trustees must also prepare the Financial Statements on a going concern basis unless it is inappropriate to presume the CIO will cease to function.

The Charity Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the CIO and which will enable them to ensure that the Financial Statements comply with the Charities Statement of Recommended Practice and any amendments thereto.

The Charity Trustees confirm they have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission.

The Charity Trustees are responsible for safeguarding the assets of the CIO and hence must take all reasonable steps for the prevention and detection of fraud and other irregularities.

The Charity Trustees confirm that they have complied with these requirements.

Registered Office: The Lighthouse Suite Manor House Manor Road Burnham-on-Sea Somerset TA8 2AS

Signed by the Secretary on behalf of the Charity Trustees

…………………………………………………………… R.M.L. Williams - Secretary

Independent Examiner’s Report to the Charity Trustees of

3

The Moose International Welfare Service Fund (“the CIO”)

I report on the accounts of the CIO for the year ended 31[st] December 2020 as set out on pages 4 to 8.

Respective responsibilities of trustees and examiner

The Charity Trustees are responsible for the preparation of the accounts. The Charity 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 only is needed.

It is my responsibility to:

Basis of the Independent Examiner’s statement

My examination was carried out in accordance with the General Directions normally given by the Charity Commission. An examination includes a review of the accounting records kept by the CIO and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the explanations of the Charity Trustees concerning any such matters. The procedures undertaken do not provide all the evidence which would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the Report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with Section 130 of the 2011 Act and

  3. • to prepare Accounts which accord with the accounting records and which comply with accounting requirements of the 2011 Act

have not been met; or

  1. to which in my opinion attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Robert D. Orr ACA, 2 Stafford Place, Weston-super-Mare, Somerset, BS23 2QZ. EK.CB.09916

The Moose International Welfare Service Fund (“the CIO”)

4

Report of the Charity Trustees for the Year Ended 31[st] December 2020

The Charity Trustees present their Report and Financial Statements for the year ended 31[st] December 2020.

The Charity’s registered number is 1153351.

Charity Trustees

The Charity Trustees have served throughout the year. The appointment of Charity Trustees is governed by the Foundation Constitution of the CIO. The day to day management of the CIO is overseen by the Secretary. All decisions are made by the Board of Trustees.

Investment Powers

The Foundation Constitution authorises the Charity Trustees to make and hold investments using the general funds of the CIO. The policy for investment is to ensure risk free capital growth whilst protecting income to cover the needs for the income in the funds.

Constitution, Objects and Policies

The Charitable Trusts are set out in the Foundation Constitution, and its objects are to provide charitable donations to the funds of the Order and to outside charities as determined by the Charity Trustees. These objects have been achieved by the making of charity dispositions and providing benefits for widows, widowers and others entitled under the terms of the Foundation Constitution.

Development, Activities and Achievements

The Charity Trustees consider that the performance of the CIO this year has been satisfactory in the economic climate of the country.

Public Benefit Statement

The objects of the CIO are for the public benefit: (1) the relief of need and financial hardship arising from youth, old age, sickness, infirmity or disability amongst members of the Grand Lodge of Great Britain Loyal Order of Moose (“the Order”) or their families or such other personal as the Trustees shall determine; (2) the promotion in cases of financial hardship of the education of children of members of the Order or such other persons as the Trustees shall determine by the award of bursaries or grants.

Financial Review

The General Fund received income from various sources which, in total, amounted to £57,982. The dividends and interest income received by the Philanthropic Fund during the year was £26,191 bringing total income for the year ended 31[st] December 2020 to £84,173. After deducting the expenses of £96,145, the General Fund has a deficit for the year of £38,163. Adding this to the Philanthropic surplus, there is an overall deficit of £15,156. The CIO has seen an increase in the portfolio market values during the year which is in line with the stock marker generally. The CIO remains in a secure financial position enabling the organisation to continue to provide funds in line with the constitution.

Approval

This report was approved by the Charity Trustees on and signed on their behalf.

……………………………………………………………………

R.M.L. Williams - Trustee

The Moose International Welfare Service Fund (“the CIO”)

Charitable Funds Balance Sheet as at 31[st] December 2020

Note
2020
£
Fixed Assets
2
The Meadow
26,820
Elmhurst
13,833
Mooseheart land
1,215
______
Investments at Market Value
3
Current Assets
Cash at bank
102,052
Rathbones – dividends due
533
Due from ‘The Order’
16,087
Due from Taunton Lodge
12,767
______
Represented by
Funds
4		 £
41,868
2,278,730
131,439
______
2,452,037
__
2,452,037
____		 2019
£
26,820
13,833
1,215
______
41,868
2,298,748
108,283
717
15,127
13,267
______
137,394
______
2,478,010
__
2,478,010
____

The financial statements were approved by the Charity Trustees and were signed on their behalf by:

………………………………………………………………..

R.M.L. Williams – Trustee

The Moose International Welfare Service Fund (“the CIO”)

Notes to the Accounts for the Year Ended 31[st] December 2020

1. Basis of Preparation of Accounts

The financial statements have been prepared under the historical cost convention. They have also been prepared in accordance with applicable Financial Reporting Standards for Smaller Entities Accounting and Reporting by Charities Statement of Recommended Practice 2005 and in accordance with the Charities Act 2011.

There are no debtors or creditors at the year end, all accounts being settled within the accounting period.

Incoming receipts represent total monies received from activities.

All fixed assets are shown at cost.

Stocks are valued at suppliers cost.

Investments are included at cost and the current market value provided by independent stockbrokers is shown in these notes.

2. Fixed Assets
Cost
01/01/2020
£
The Meadow, Knapps Drive
26,820
Elmhurst, Woodborough Road
13,833
Mooseheart, Winscombe:
Freehold land
1,215
______
41,868
__
The insured value of the freehold
buildings is as follows:
The Meadow, Knapps Drive
268,115
Elmhurst, Woodborough Road
322,651
______
£ 590,766
____		 Balance
31/12/2020
£
26,820
13,833
1,215
______
41,868
______

The Moose International Welfare Service Fund (“the CIO”)

Notes to the Accounts for the Year Ended 31[st] December 2019

3. Investments

Philanthropic Fund
As at 1stJanuary 2020
Additions
Disposals
Redemptions/equalisations
Stockbroker fees
Gains/losses on portfolio
General Fund
As at 1stJanuary 2020

Additions
Disposals
Redemptions/Equalisations
Stockbroker fees
Gains/losses on portfolio
Total Funds
As at 31st December 2020
As at 31st December 2019
4.
Fund Balances
Philanthropic Fund
General Fund
Funds at 31stDecember 2020		 Portfolio
£
809,832
120,730
(129,451)
-
-
(49,745)
______
751,366
__
Portfolio
£
1,470,313
208,802
(212,283)
-
38,928
______
1,505,760
_
2,257,126
___
2,280,145
______		 Capital
Account
£
9,350
(120,730)
129,451
248
(3,184)
-
______
15,135
__
Capital
Account
£
9,253
(208,802)
212,283
622
(6,887)
-
______
6,469
_
21,604
___
18,603
______		 Total
£
819,182
______
766,501
__
Total
£
1,479,566
______
1,512,229
_
2,278,730
___
2,298,748
__
£
1,012,252
1,439,785
______
2,452,037
____		 Historical
Cost
£
620,752
______
610,790
__
Historical
Cost
£
1,212,142
______
1,171,410
_
1,782,200
___
1,832,894
______
  1. Charity Trustees Pensions and Remuneration

No Charity Trustee receives an annual pension or other remuneration.

The Moose International Welfare Service Fund (“the CIO”)

Notes to the Accounts for the Year Ended 31[st] December 2020

6. Total Staff Costs

Total staff salaries and wages allocated to the charitable funds amounted to £7,828 (2019:£7,786) for one member of staff. This includes pension contributions.

7. Related Party Transactions

Moose International in Great Britain (“the Order”) pays the overhead costs for both the Order and the CIO. These costs are monitored on a monthly basis and periodically a proportion is charged to the CIO as the Charity’s contribution towards the costs. As at 31[st] December 2020 the amount due from the Order to the CIO was £16,087 as disclosed on the Balance Sheet.

8. Trustee Expenses

The travel and subsistence costs incurred by the four Trustees in relation to their duties to the CIO amount to £7,532 (2019: £8,675) during the year under review. This is included within administration costs on the Statement of Financial Activities.

The Moose International Welfare Service Fund (“the CIO”)

9

Charitable Funds Statement of Financial Activities for the

Year Ended 31[st] December 2020

General 2020 2019
Unrestricted Funds Phil Fund Total Total
Incoming Resources £ £ £ £
Rents 14,320 14,320 16,740
Donations 6,793 6,793 7,339
Grand Draw - - 1,069
Dividends & interest 26,191 36,869 63,060 73,078
_____ _____ _____ _____
26,191 57,982 84,173 98,226
_____ _____ _____ _____
Outgoings
Let property expenses 37,047 37,047 9,985
Wages & salary costs 7,828 7,828 7,786
Administration costs 8,681 8,681 10,501
Donations and grants 18,558 18,558 14,969
Presents and holidays 7,003 7,003 5,752
Magazines for widows 1,036 1,036 1,113
Rent and room hire 2,370 2,370 2,613
Accountancy 3,573 3,573 3,356
Legal fees - - 175
Stockbrokers 3,184 6,887 10,071 9,954
Insurances 3,162 3,162 1,600
_____ _____ _____ _____
3,184 96,145 99,329 67,804
_____ _____ _____ _____
Net incoming/(outgoing) resources 23,007 (38,163) (15,156) 30,422
Gains/losses on investment portfolios (49,745) 38,928 (10,817 ) 182,469
Total funds at 1stJanuary 2020 1,038,990 1,439,020 2,478,010 2,265,119
_____ _____ _____ _____
Total funds at 31stDecember 2020 1,021,252 1,439,785 2,452,037 2,478,010
_____ _____ _____ _____