**Charity number: 1163887**
## **Kent Masonic Museum and Library Trust**
**Trustees’ report and financial statements**
**for the year ended 31 March 2023**
## **KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
||**Pages**|
|---|---|
|**Reference and administrative information**|**2**|
|**Trustees' annual report**|**3 - 5**|
|**Independent examiner's report**|**6**|
|**Statement of financial activities incorporating the income and expenditure account**|**7**|
|**Balance sheet**|**8**|
|**Notes to the financial statements**|**9 - 13**|
Page 1
## **KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **General information**
The Kent Masonic Museum and Library Trust is a Charitable Incorporated Organisation registered under Charity No. 1163887. It operates under the name of The Kent Museum of Freemasonry from premises at St Peter's Place, Canterbury, Kent CT1 2DA which are owned by the Masonic Province of East Kent. Under the terms of its lease, the Trust pays only a peppercorn rent and the landlord has covenanted to insure the property and keep its main structure and exterior in good repair.
## **Trustees**
The Trustees during the year ended 31 March 2023 were as follows: Richard Wingett - appointed Chairman 16 May 2022 Charles Boxer Charles Pottle Charles Byford - Treasurer Richard White - appointed Secretary 22 September 2022 (appointed 22 September 2022) Peter Hazlewood (appointed 22 September 2022) Philip Zygmant (appointed 22 September 2022) John Andrews - former Secretary (resigned 17 September 2022) Roger Waltham - former Chairman (resigned 16 May 2022) David Tyler - former Deputy Chairman (resigned 16 May 2022) Peter West - former Chief Executive (resigned 4 April 2022)
Following the year end:
On 25 May 2023 Charles Byford resigned as Treasurer and Peter O'Donnell was appointed as Treasurer.
At the forthcoming Annual General Meeting (AGM) on 16 September 2023, Peter O'Donnell will offer his resignation and will stand for re-election as a Trustee. Charles Byford and Charles Pottle will also offer their resignations as Trustees but will not be seeking re-election.
## **Independent examiner**
Susan Robinson BA FCA FCIE DChA Kreston Reeves LLP, Chartered Accountants Montague Place Quayside Chatham Maritime Chatham ME4 4QU
Page 2
**KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees are pleased to present their Annual Report and the Financial Statements of the Trust for the year ended 31 March 2023.
## **Structure, governance and management**
The Trust is a Charitable Incorporated Organisation, governed by its Constitution document dated 1 June 2015. Its objective is to advance public education of the history and benefits of Freemasonry in Kent through the maintenance of the Museum and Library. Membership is open to any Lodge of Freemasons in the Provinces of East Kent and West Kent which has appointed a Museum and Library Ambassador.
The Trustees manage the affairs of the Charity and meet regularly to discuss and review its financial and operational affairs. There are a maximum of nine Trustees and a minimum of three and at the Annual General Meeting a third must stand for re-election and may stand for re-election up to a maximum of three consecutive times.
## **Achievement and performance**
The Museum and Library operates to professional standards as an Arts Council England accredited museum. It is run entirely by volunteers and none of its Trustees or managers receive any remuneration. The day to day work of meeting visitors, showing them the Museum and answering their questions falls to our excellent team of volutary stewards.
Following our closure during the Covid 19 pandemic, we re-opened the museum in the summer of 2022 and have been working hard to populate our cabinets with interesting exhibits. However, the disruption caused by the pandemic and by our enforced closure has meant that some of our volunteer stewards have not returned to work at the museum, and so, like many charities which are reliant on voluteers, we have only been able to open to the public on a limited number of days.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity' (PB2).
## **Financial review**
The Trust's Income and Expenditure Account showed a deficit of £2,102 for the year, resulting in Unrestricted Funds of £61,662 at 31 March 2023. There were no Restricted Funds.
Income to the Trust's Unrestricted Funds was £21,064, compared to £29,562 in the previous year, which included a £12,000 Covid-19 government grant. Donations from the Association of Patrons scheme were £15,496, very close to those in the previous year. However, following our re-opening, other donations, primarily from visitors to the museum, increased significantly to £3,477. Income from charitable activities, primarily lecture fees and commission received from the East Kent Regalia Scheme run by Brian Blake, totalled £1,800, slightly ahead of the previous year.
Expenditure on charitable activities was £22,666, down from £28,288 in the previous year due mainly to much reduced exceptional costs for the refurbishment and redecoration of our building. Most of the increase in regular direct costs from £13,657 to £19,546 was the a result of our re-opening but they also included £2,795 for the repair of about a dozen valuable mostly eighteenth century books.
Page 3
## **KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **Financial review (continued)**
We have finally written off the residual £500 stock of our former shop as this is unlikely to be realised in the foreseeable future.
## **Going concern**
The Trustees have a reasonable expectation that the Charity has adequate resources to operate for the foreseeable future and therefore have continued to adopt the going concern basis in preparing these financial statements. Further details regarding the adoption of the going concern basis are given in the Accounting Policies.
## **Reserves policy**
In order to cover both the coming year's regular expenses and any exceptional maintenance costs, the Trustees aim to maintain reserves of unrestricted funds of £40,000. Reserves in excess of this amount will be used to invest in the infrastructure of the museum and library and to purchase artefacts and books when appropriate.
## **Future plans**
The Trustees have established the following strategic objectives for the future of the Trust:-
- to ensure the continued Arts Council Accreditation
- to increase the number of Patrons
- to increase the number of volunteer stewards, to enable the Museum open more regularly
- to establish and maintain links with academic and other relevant institutions in Kent
- to set up systems to make the Library available to researchers
## **Statement of the Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 income and expenditure 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 of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent:
- state whether applicable UK Accounting Standards (FRS 102) 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;
Page 4
## **KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)**
## **Statement of the Trustees' responsibilities (continued)**
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Memorandum of Association. 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.
Signed on behalf of the Trustees
Richard Wingett Chairman 25 May 2023
Page 5
## **KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023 which are set out on pages 7 to 13.
## **Responsibilities and basis of the report**
As the charity's trustees you are responsible for the preparation of its accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 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 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the accounts 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that, in any material respect:
- a. accounting records were not kept in respect of the charity, as required by section 130 of the 2011 Act, or
- b. the accounts do not accord with those records, or
- c. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Acounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or this report.
Susan Robinson BA FCA FCIE DChA MCMI Kreston Reeves LLP, Chartered Accountants Date: 25 May 2023
Page 6
**KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023**
|Note
**INCOME FROM:**
Donations received
**2**
Government Covid-19 grant
Charitable activities
**3**
Interest received
Shop sales
**6**
**Total income**
**EXPENDITURE ON:**
Charitable activities
**4**
Shop cost of sales and write-offs
**6**
**Total expenditure**
**NET (DECREASE) / INCREASE IN FUNDS**
**RECONCILIATION OF FUNDS**
Total funds brought forward
Net (decrease) / increase in funds
**Total funds carried forward**|**2023**
**_2022_**
_£_
_£_
18,973
_15,691_
-
_12,000_
1,800
_1,750_
1
_-_
290
_121_|**2023**
**_2022_**
_£_
_£_
18,973
_15,691_
-
_12,000_
1,800
_1,750_
1
_-_
290
_121_|
|---|---|---|
||**21,064**
**_29,562_**||
||22,666
500|_28,288_
_495_|
||**23,166**
**_28,783_**||
||**(2,102)**
**_779_**||
||63,764
_62,985_
(2,102)
_779_||
||**61,662**
**_63,764_**||
The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 9 to 13 form part of these financial statements.
Page 7
**KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|Note
**CURRENT ASSETS**
Former shop stock
Debtors
**7**
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
**8**
**NET ASSETS**
**CHARITY FUNDS**
Unrestricted funds
**9**
**TOTAL FUNDS**|**_2023_**
**_2022_**
_£_
_£_
-
_500_
_3,022_
_2,589_
59,990
_64,633_|
|---|---|
||63,012
_67,722_
(1,350)
_(3,958)_|
||**61,662**
**_63,764_**|
||61,662
_63,764_|
||**61,662**
**_63,764_**|
These financial statements were approved by the Board of Trustees on 25 May 2023 and are signed on behalf of the Board by:
**Richard Wingett Chairman**
Page 8
**KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1 Accounting policies**
## **1.1 Basis of preparation of the financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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) and the Charities Act 2011.
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 Charities SORP (FRS 102).
Kent Masonic Museum and Library Trust meets the definition of a public benefit entity under FRS 102 and its financial statements are presented in sterling. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Fund accounting**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of any of the Charity's purposes. Restricted funds are subject to specific restrictions on their use, either imposed by a donor or through the terms of an appeal. In both the current and the previous year all of the Charity's funds were unrestricted.
## **1.3 Disclosure exemptions**
The Trust is a small charity, as defined by FRS 102, and has taken advantage of the exemption available in paragraph 1.12 of FRS 102 not to present a cash flow statement.
## **1.4 Going concern**
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern. Thus, taking into consideration the Charity's level of reserves, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.5 Income**
Income is recognised once the Trust is entitled to it, it is probable that it will be received and the amount can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 9
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
- **1 Accounting policies** (continued)
## **1.6 Expenditure**
Expenditure is recognised when there is a legal or constructive obligation to transfer an economic benefit to a third party, it is probable that such a transfer will be required in settlement and the amount can be measured reliably.
## **1.7 Interest receivable**
Interest on funds held on deposit is recognised when it is receivable and when the amount can be measured reliably, which is normally when it has been notified by the bank.
## **1.8 Heritage assets**
The Trust's heritage assets comprise its collection of paintings, objets d'art, jewels, books and other artefacts held at the Museum and Library. These are primarily related to the history and development of Freemasonry and have all been donated to the Trust or to its predecessor organisations. An inventory of heritage assets is maintained but it is considered that the cost of their valuation would not give a commensurate benefit to the users of these financial statements and therefore they are not recognised in these financial statements.
## **1.9 Tangible fixed assets**
Tangible fixed assets owned by the Trust comprise fixtures and fittings used to store and display its heritage assets, together with furniture, equipment and improvements to its premises. These have either been donated or purchased and in the latter case it is the Trust's policy to write such expenditure off in the year it is incurred. Thus tangible fixed assets are not recognised in these financial statements.
## **1.10 Financial instruments**
The Trust only has financial assets and liabilities which qualify as basic financial instruments. These are stated at their initial transaction values, subsequently adjusted to their settlement values where appropriate.
## **1.11 Debtors**
Trade and other debtors are stated at their settlement amounts, net of any trade discounts. Prepayments are valued at the proportionate net amount prepaid.
## **1.12 Cash at bank and in hand**
Cash at bank and in hand comprises cash and bank balances maturing in one month or less.
## **1.13 Liabilities**
Liabilities are recognised when there is an obligation resulting from a prior event, it is probable that a transfer of economic benefit will be required in settlement and the amount of such settlement can be reliably estimated. They are stated at the amounts which the Trustees believe the Trust will eventually pay to settle such obligations.
Page 10
**KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**2**
**Income from donations received**
Association of Patrons (AoP) donations
Other donations
**3**
**Income from charitable activities**
Lecture fees received
Commission from the East Kent Regalia Scheme
Commission from On The Square Regalia
**4**
**Expenditure on charitable activities**
**Regular direct costs**
Repairs and maintenance
Gas, electricity and water
Business rates
Cleaning
Telephone and broadband
IT costs
Marketing, outreach and AoP costs
Health and safety costs
Book repairs
Furniture & equipment
Other costs
**Exceptional direct costs**
Protection, removal and storage of artefacts
Security
Container rental
Redecoration of railings and gates
Rubbish removal
Refurbishment costs
**Support costs**
Independent examiner's fee
**Total costs**|**2023**
**_2022_**
£
_£_
15,496
_15,669_
3,477
_22_|**2023**
**_2022_**
£
_£_
15,496
_15,669_
3,477
_22_|
|---|---|---|
||**18,973**
**_15,691_**||
||**2023**
**_2022_**
£
_£_
650
_150_
1,000
_1,600_
150
_-_||
||**1,800**
**_1,750_**||
||**2023**
**_2022_**
£
_£_||
||4,235
3,390
1,190
1,851
489
2,466
1,158
223
2,795
537
1,212|_2,009_
_2,696_
_608_
_960_
_478_
_3,484_
_1,539_
_1,554_
_-_
_-_
_329_|
||19,546
_13,657_||
||-
-
-
-
(250)
2,520|_3,695_
_1,260_
_640_
_3,900_
_1,137_
_3,165_|
||2,270
_13,797_
850
_834_||
||**22,666**
**_28,288_**||
Page 11
## **KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **5 Trustees' expenses**
No Trustees received any remuneration or benefits in kind in the current or previous year. During the year four Trustees were reimbursed expenses totalling £1,071 _(2022: £2,504 to three Trustees)._
## **6 (Loss) from shop**
|Sale of masonic regalia, clothing and ritual books
Sale of duplicate books
Total sales
Cost of sales and stock written off
Net (loss)
**7**
**Debtors**
Prepayments and accrued income
Gift Aid recoverable
**8**
**Creditors: amounts falling due within one year**
Accrued redecoration and damp proofing
Other accruals
**9**
**Analysis of charitable funds**
**Unrestricted funds:**
Brought forward
Income for the year
Expenditure for the year
Carried forward
There were no restricted funds in either year.
**10**
**Analysis of net assets between funds**
**Unrestricted funds:**
Current assets
Creditors due within one year|**2023**
**_2022_**
£
_£_
-
_21_
290
_100_|
|---|---|
||290
_121_
(500)
_(495)_|
||**_(210)_**
**_(374)_**|
||**2023**
**_2022_**
£
_£_
1,563
_1,620_
1,459
_969_|
||**3,022**
**_2,589_**|
||**2023**
**_2022_**
£
_£_
-
_2,220_
1,350
_1,738_|
||**1,350**
**_3,958_**|
||**2023**
**_2022_**
£
_£_
63,764
_62,985_
21,064
_29,562_
(23,166)
_(28,783)_|
||**61,662**
**_63,764_**|
||**2023**
**_2022_**
£
_£_
63,012
_67,722_
(1,350)
_(3,958)_|
||**61,662**
**_63,764_**|
Page 12
## **KENT MASONIC MUSEUM AND LIBRARY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **11 Related party transactions**
The Trust did not enter into any related party transactions either during the financial year or the previous financial year and there were no balances outstanding with any related parties at either balance sheet date.
Page 13