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2022-12-31-accounts

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

Report of the Charity Trustees and Financial Statements

For the Year Ended 31 December 2022

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 December 2022

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 December 2022

Charity Information

Trustees A G Harries (Chairman)
M E Dunne
K Jenkins
Secretary M E Dunne
Central Office The Lighthouse Suite
Manor House
Manor Road
Burnham-on-Sea
Somerset
TA8 2AS
Auditors Brooking, Ruse & Co Limited
Chartered Accountants
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 December 2022

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

…………………………………………………………… M E Dunne - 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 December 2022 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 Brooking Ruse & Co Ltd 2 Stafford Place Weston-super-Mare Somerset, BS23 2QZ EK.gd.09916

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

4

Report of the Charity Trustees for the Year Ended 31 December 2022

The Charity Trustees present their Report and Financial Statements for the year ended 31 December 2022.

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 £275,995. This includes the donation of the proceeds of sale of £210,890 from Halesowen Lodge. The dividends and interest income received by the Philanthropic Fund during the year was £26,226 bringing total income for the year ended 31 December 2022 to £302,221. After deducting the expenses of £117,786 the General Fund has a surplus for the year of £161,548. Adding this to the Philanthropic surplus, there is an overall surplus of £184,435. The CIO has seen a decrease in the portfolio market values during the year which is in line with the stock market 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 23 October 2023 and signed on their behalf.

…………………………………………………………………… M E Dunne - Secretary

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

Charitable Funds Balance Sheet as at 31 December 2022

Note
2022
£
Fixed Assets
2
The Meadow
26,820
Elmhurst
13,833
Mooseheart land
1,215
______
Investments at Market Value
3
Current Assets
Cash at bank
334,546
Rathbones – dividends due
2,714
Due from ‘The Order’
2,781
Due from Taunton Lodge
10,767
Due from 50/50
1,569
______
Represented by
Funds
4		 £
41,868
2,269,419
352,377
______
2,663,664
__
2,663,664
____		 2021
£
26,820
13,833
1,215
______
41,868
2,499,184
131,558
481
15,411
10,767
-
______
158,217
______
2,699,269
__
2,699,269
____

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

………………………………………………………………..

A G Harries - Chairman

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

6

Notes to the Accounts for the Year Ended 31 December 2022

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
01/01/2022
£
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
428,343
Elmhurst, Woodborough Road
587,491
______
£ 1,015,834
____		 Balance
31/12/2022
£
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 December 2022

3. Investments

Philanthropic Fund
As at 1 January 2022
Additions
Disposals
Redemptions/equalisations
Stockbroker fees
Gains/losses on portfolio
General Fund
As at 1 January 2022

Additions
Disposals
Redemptions/Equalisations
Stockbroker fees
Gains/losses on portfolio
Total Funds
As at 31 December 2022
As at 31st December 2021
4.
Fund Balances
Philanthropic Fund
General Fund
Funds at 31 December 2022		 Portfolio
£
817,408
120,253
(129,865)
-
-
(37,563)
______
770,233
__
Portfolio
£
1,635,078
191,915
(245,154)
-
-
(182,477)
______
1,399,362
_
2,169,595
___
2,452,486
______		 Capital
Account
£
12,438
(120,253)
129,865
726
(3,339)
-
______
19,437
__
Capital
Account
£
34,260
(191,915)
245,154
362
(7,474)
-
______
80,387
_
99,824
___
46,698
______		 Total
£
829,846
-
-
726
(3,339)
(37,563)
______
789,670
__
Total
£
1,669,338
-
-
362
(7,474)
(182,477)
______
1,479,749
_
2,269,419
___
2,499,184
__
£
1,085,564
1,578,100
______
2,663,664
____		 Historical
Cost
£
612,767
______
611,036
__
Historical
Cost
£
1,175,466
______
1,156,383
_
1,767,419
___
1,788,233
______
  1. Charity Trustees Pensions and Remuneration

No Charity Trustee receives an annual pension or other remuneration.

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

8

Notes to the Accounts for the Year Ended 31 December 2022

6. Total Staff Costs

Total staff salaries and wages allocated to the charitable funds amounted to £5,025 (2021: £7,287) for one member of staff during part of the year. This includes pension contributions for one staff member.

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 December 2022 the amount due from the Order to the CIO was £2,781 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 £11,504 (2021: £7,590) 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 December 2022

General 2022 2021
Unrestricted Funds Phil Fund Total Total
Incoming Resources £ £ £ £
Rents 13,700 13,700 14,170
Donations 216,957 216,957 4,592
Dividends & interest 26,226 45,338 71,564 62,634
_____ _____ _____ _____
26,226 275,995 302,221 81,396
_____ _____ _____ _____
Outgoings
Let property expenses 8,151 8,151 14,211
Wages & salary costs 5,025 5,025 7,287
Administration costs 13,241 13,241 8,526
Donations and grants 70,836 70,836 15,424
Presents and holidays 1,620 1,620 1,454
Magazines for widows 521 521 1,065
Rent and room hire 2,540 2,540 2,486
Accountancy 3,042 3,042 2,640
Stockbrokers 3,339 7,474 10,813 10,902
Insurances 1,997 1,997 1,525
_____ _____ _____ _____
3,339 114,447 117,786 65,520
____ _____ _____ _____
Net incoming/(outgoing) resources 22,887 161,548 184,435 15,876
Gains/losses on investment portfolios (37,563 ) (182,477 ) (220,040 ) 231,350
Total funds at 1 January 2022 1,100,240 1,599,029 2,699,269 2,452,043
_____ _____ _____ _____
Total funds at 31 December 2022 1,085,564 1,578,100 2,663,664 2,699,269
_____ _____ _____ _____