Charity Registration No. 1175246 Company Registration No. 11020585 We-st"°Lancashire Freemasons, Charity Company Limited By Guarantee Annual Report and Accounts 2023-2024 *ADIFVK￿# 21112r2024 COWANIES H¢XJSE #51 Helping those in need West Lancashire Freemasons, Charity Company Limited By Guarantee Financial Statements for the year ended 31 March 2023 Contents Pages Professional Advlsers Truste*s' Annual Report Ilndudlng Ixrectorf Report) 2to6 Independent Audltor's Ileport 7108 Statement of Hnandal Actlvides Balance Sheet io Stattmem ofcash Flows li Notes to the Flnancial Statements 12to19 Professional Advisers ReGI￿¢t¢￿ thorlty name West Lancashire Freema50ns' Charity Company Limited By Guarantee Char5ty numb•r 1175246 Company number 11020585 Prindpal address and Re8isterÈd Office West Lancashire Freemasons, Charity 2 Paramouni Business Park Wilson Road Huyton Liverpool L36 6AW Auditor JS. Audit knrnited James House StonecTOSS Business Park Warrington Cheshire WA3 3JD Bankers HSBC Bank plc 99-101 Lord Street Liverpool L2 6PG Inveslment Mwrs Rathbone Investment Management Port Of ￿VerpoOl Building Pier Head verpool L3 INW Sollcltors 8rowne Jacobson LLP Mowbray House Castle Meadow Road Noth"ngham NG2 IBJ WLFC Annual Report and Acc￿ntS 2024 Trustees, Annual Report (Including Directors, Report) The trustee5 have pleasure in presenting their annual report and fi.nancial statements for the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note I to the a¢counts and comply with the Charity's memorandurn and arricles of a55(xiation, the Companies Act 20CkS and ~Accounting and Reporting by Charities: ststement of Recommended Pratlftè applicable to charities preparing their accounts in accordance with the Financial Reporting Standard pplicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commenang from l January 20191. Finanaal Review Cornplete details of the income and expènditure are shown in the statement of fi"nanoal acrivilies on Page 9 and in thè notes to the accounts. The reserves Of the Charity ai 31 March 2024 totalled £18.99m12023- £17.67ml. Total income and endowments in the year arnounted to £814,399 compared with £726,096 in the pretÈding year. Included in the total were I￿a(leS of £467139 12023 £6.4191. and investment income and interest receivable of É524.74312023- £480.4391. Grants paid were E381.05912023- £456,3011. During the year the Charity made 8rant5 to non-masonic activities. Further information is given under 'Charitable Athvities, in note 6 to the accounts. Charitable Support Costs were £ 90.55212023- £88,276). During the year. net realised investment gain5 were £91,67712023 - £170,069) ,' and on the revaluation of the investment portfolio at the year end, net unrealised investment gains were £964,928 12023 losses of £1.508.9751. The overall result for the year wa5 an increase in funds of £1.323.58412023- deuease of £1.229.3471. Legal Status The charity is registered 35 a company limiied by guarantee INO.. 110205851 and as a tharÉty INO.. 11752461. Objects and Artivities The Charity has the following objects and actrwttes= Ill The relièf of Freerna50ns of the Masonit Provincè of West Lancashire. their widows. children and any dependants of Freemasons ol the Province who are in conditions of need. hardship or distress. Investment policy and performance The Chartty conts.nued its policy of adopting a prudent investrneni Strate￿ which gives a balanced portfolio. The investment manager5 engaged durin8 the reportin8 year werè Rathbone Investment Managemènt. were advised to maximize the total retum on the portfolio within the constraints of a medium risk strateBV. The investment brief is broadly defined. At 31 March 2024, the investment portfolio stood at £17,925,716. The trustees monitor the investment performance on a quarterty basis. The portfolio valuatr.on at 31 March 2024 was £971.717 higher than the value ai 31 March 2023. This increase espeoally reflected unrealizeij gains in the last quarter of the year with a strong rally supporting leadin8 developed market equitie5 together with better-than- experted earnin￿ report5. The trustees have at all times arted in accordance with the trustees. duties in relation to bnvestments under the Trustees Act 2000. Cash funds are maintained at a level sufficient for short- term requirements with a reserve placed on short term deposit at the m05t advanta8eou5 rate of return available at the time of investment. 121 To promote the e(lucation of children under the age of 25 who are in need of financial assistance and are resident in the Province. 131 The provision of financial assistance to Masonic charitable funds or institutions or other charitable Trnsb'tvtions as the trustees shall from time to time deude. The Charity has referred to the Charity Commission's eneral guidance on Public eenefft when reviewtll8 its aims and objectives and has ensured th* the 8rant making policie5 and acbvbties of the West Lanca5hire Freemasons. Charity tornply with the requirements. WLFC Annual Report and k¢ounts 2024 Trustees, Annual Report (Including Directors, Report) Reserves policy The Charitvs reserve policy FS to maintain an adequate level to support its activities. taking account of the risks to which it is exposed and existing and projected levels of income and expenditure. All triJ5tees Bave freefy of their time and no remuneration was paid during the year. The day to day managernent of the Charity is the responsibility of the Chief Executive. The Chief Financial Officer has particular responsibility for the proper control of all financial matters. The trustees recogni5ed the effect of the Covid-19 pandemic on societies and economies the world over. Also the war in thè Ukrainè. inflationary pressures. and the situation in the Middle East add to the uncertainty of future income levels. However a recovery in the investment portfolio was noted in thè final quarter of the yeaf. The evidence of resilient economic perforrnance conirasts with ongoing geopolitical risk and continuing high levels of interest rates. These factors are being monitored and the portfolio positioned according taking the agre￿ Trustees risk profile into account. The Principal Officers have a team of volunteers whose fvnctions indude receiving and checking applican.ons for assistance- assessing and approving grant5 where appropriate- ￿Ceiv￿ng and recording donats'on5 and making payments.. controlling finances- meetin8 statutory requirements- marketing and public relation5', dealing with investment managers. auditor5. solicitors and suppliers as well as fund raisers within the Province and lod8e alrnoners who deal d1￿CtlY with the applicants,. general administration.. planning and reporting. Structure• governance and management The governance and management of the Charity durin8 the vear allowed the number of trustees to be not le55 than five and not more then seven. Trustees apkk)int able and willing candidates to be a trustee. As the Charitvs volunteers are not remunerated for their services but incur costs in travelling to their work, all volunteers may claim a contribution towards these costs based on the HMRC mileage allowance. Each term of office is for four years. Trustees ¢8n be rtr appointed for one further term of four years. All the team members have happily and generously given their tirne in sÈrvitÈ to chartty and the Trustees wish to record their apprecialion and gratiiude to all volunteers who work at Huyton. On appointment new trustees SiBn a trusteè dedaratt.on and a confidentiality agreement and receive a copy of the xheme document- the Charitys rules and re8ulations- past annual reports and accounts,. minutes of trustee mèèts"n8s and guidance publlcations produced by the Charity Comrnis$10ft. New trustees are encouraged to meet with the Chief Executive and hi5 team and gain an understanding of the processes involved in running the Charity. Risk management Risk policy involves the trustees in thè maintènance of sound business practices in order to avoid unnecessary risk. Our view is that risk management works most effectively when it is applied by all staff involved in running the Charity and it is an established pracknce to keep all our volunteers informed of and involved in administration matter5. The trustees meet quarterly with additional meetings called when necessary. At the meetings the trustees considef matters. relating to Brant makin8 policy. investment strategy. major acquisitions. Major grants, business planning and receive reports relating to the administratr'on of the Charity. It is the policy to regularly rwew the risks to which the Charity is exposed and the adÈqLtacy of financial controls and to establish systems to mitigate those risks. The Charity has undertaken a full risk assessment as required by The CharffJ"es A¢t. In all areas the Charity was considered at low or very low risk. confirming that systems and PrO￿dUreS to rnana8e those risks are in place. 3 WLFC Annual Report and Accounts 2024 Trustees, Annual Report (Including Directors, Report) Grant making poli¢v Applitat"ons are received through local Freemasons. Masonic groups or direct at the Charity's office_ Suttessful applrcations need to meet established criteria and supporting evidence is require(l. Requesis for assistance which fall outside the norm may still qualify for help at the tru5tee5' discrefjon. The Charity is keen to make the public aware of the assis- tan¢e which can be provided by the Charity. Because the Charity does not seek to rèise donations from the general blTrc but instead relies on donation5 rnade by Freemasons, our role a5 a public benefartor is not always understood. It is hoped that the level of 8rants made and our involvement and 5UPPOrt for rÈlarivèly high profi.le projects will attract wider recognition. Examples of the type of grants given are shown on the Charl￿S website: www.westlancsfreemasons.org.uVwlfc-home. The Charbty re8ulady rewews the types of requests it receives and amends qualification requirements and increases resources where they help to meet the Charity's objectives. Fundraising The (harity relies heawly on donations from Freemasons In the Province of West Lancashire. The Charity continues to ise awareness of its work within the Province and in doln8 so. it is hoped that those Freemason5 will contfnue to give generously to help the Charity support needy individuals and other worthy tausÈs. A consistent approach to assessing applitations and making grants is adopted by the Charity. For individual applicants in financial distress the Charity uses an application form similar to that used by the Masonit Charitable Foundation and requires si8ht of supportin evidence of financial income. Savin￿ and need. Relief is afforded to an applicant by reference to iheir income measured against the Joseph Rowniree Foundation Minimum Income Standard and by reference to the applicanvs Capital Posbtion. The trustees are rnindful that the Fundraising Re8ulator ha5 recently expressed concern5 re8arding- how or8anisations collect or soliclt funds relationship5 Wlth donors methods of working with others to raise money management of contact preferences and complaint5 handling Maximum grant levels are reviewed by the trustees on at least an annual basis. In addiDon to providing grants to help meet living costs the Charity has also helped with the cost of essential repairs to homes and has prowded assistance in financial emer8encies. The trustees therefore wish to set ￿t how the Charity raises funds and addresses these issues. The Charity doe5 not solicit or receive donations from the general public.. the funds It receives come purely from Free- masons. The Charity acts indirectly through the umbrella OTgani5ation for freemasons in West Lanc3shire. The Ma- 50nic Province of West Lancashire Ithe Provincel. to solicit funds. Charitable activities The majority of our workload durin8 the year related to handling applications for assistance from indivlduals in financial distress and the Charity was pleased to 8ive much needed financial support to Freema50n5 and dependants in need, including those afferted by the pandemit lockdown. One of the basit tenèts of Freemasonry is charity. To that end the Pro￿n￿.. sends sentor masons annually to all lodges who may speak on the work of thè Charity organises annual collections across the Province encourage5 lodges of masons to make 8ifts to the Chaflty Distributes promotional literature to masonic halls Grants to non-masonic causes in the year totalled £156.486 12022123- É166.4371. The general public is not approached. WLFC Annual Report and Accounts 2024 Trustees, Annual Report (Including Directors, Report) Performance The Charity ha5 a strategic plan which is gèared towards= Ensuring prudent financial management Allocatin8 resource to meet demand Increasing awarene55 of the charity and its activities within both the Masonic and non- Masonic communities Raising the skills of its volunteers Increasing its funds Future Plans Non-masonic giwng has for many years beert a major ujnstituent of the Charity's work. The CharitVs policy is to seek to make a number of awards each year, of between £I0.c￿ and £25.Cth in each instance . with the aim of making a signthcant impact on community organisations in West Lancashire and. hopefully. increasing and improving the profile of Freemasonry in general. www.westlancsfreèmasons.org.uk. the charivs The principal objective of the Charity Is and will continue to website. provides informaD"on on the charity and help ￿ thè reli￿ of Freemasons and their connections. and to for applicants and those raising and dispersing funds on this end the Board will Continually review the upper level of its behalf. The ¢haritVs promotional liierature. masonic grant5 payable. application forms and guidance notes have been updated. A range of leaflets tan bÈ d¢)wnloaded from the website covering the work of ihe charity.. inviting applications for finarbryal a5SiStan¢e- describing how donations can be made,. how le8atiÈs tan bè arranged anLI how Gift Aid can swell the value of dona15ons. Trustees The trustees who served the charity during the period were as follows.- Vi51tors to the webslte can ¢heck state bÈr*efft entitlements and download application forms and guidance notes for grants for charitable causes in the community. D. J. Parkinson I Chairman I B. L Crossley (Deputy Chairman. resigned 31 Marth 20241 C. J. Rowling J. D. Gibbon D. C. W. Fairdou8h IresiRned 12 FebnJary 20241 l. T. Sandefson P. H. Bèines Best business practi￿ is employed in running the charity. Strate&'c and business plans are in force- a risk register is in use and health and Safety wews are carried out on a regular basis. All applications are handled confidentially and all team members are required to ￿8n a confidentiality agreement. Both B.K. Crossley and D.C.W. Fairlough left at the completion of their respectivè terms of offitè. WLFC Annual Report and Accounts 2024 Trustees, Annual Report (Including Directors, Report) Statement of trusttt< responsibilities The trustees, who are also directors of the Charity for the purpose5 of company law. are responsible for preparing thè Trustees, Report and the financial statements in accordan￿ with applicable law and United Kingdorn Accounting Standards Iunited Kingdom Generally Accepted Accounting Prarticel. Company law requires the trvstees to prepare finan¢ial statements for each financial year which Bive a true and fair view of the state of affairs of the Charity and of the incoming resourtÈs and 8pplicalSon of ￿sources. including the income and expenditure, of the Charily for that year. In Preparing these financial statements. the trustees are required to: 5elert suitable accounting poliue5 and then apply them con515tently observe the methods and prin¢rplès in the Charities SORP make judgements and estimates that arÈ reasonable and prudent State whether applicable accounting standards have been followed. subject to any maierial departures disclosed and èxplained in the finanaal statements.. and prepare the financial 5talements on Ihe 80ing concem basis unless it is inappropriatè to pre5urne thal the Charity will continue ils operations The tru5tee5 are re5pon5ible for keeping ad￿uaIe accounting records that dtsclose with reasonable accuraty at any time the finantial position of the Charity and enable them to ensure that the finanoal siatements cornply with the Companies Art 2006. They are also responsible for safeguardin8 the assets of the Charity and hence for takin8 reasonable steps for the prevention and detection of fraud and other hrre8ulari*ÈS. The trustees are responsible for the Maintenance and integrity of the charsty and financial information in¢luded on ihe CharitV5 websitè. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may diffei from legislation in other jurisdictions. Auditor JS. Audit Limited Is deemed to be re-appointed under se¢tsn 487121 efthe Companies Act 2(Y)6. Dlsdosure of Information to audftor Each of the trustees has confirmed that there is no information of whith they are aware which is relevant to the audit, but of which the auditor is unaware. They have further tonfirmed that they have taken appropriate steps to identify such relevant inforrnation and lo establish that the auditor is aware of suth informaifon. Small company provisions This report has been prepared in accordance with the special provisions relatlng to srnall companies within Part 15 of the Companies Act 2C4J6. Approved by the Trustees on 20th November 2024 D. J. P#rkinson Chairman H. D. Lloyd Chief Executive Offior WLFC Annual Report and Accounts 2024 Independent Auditor's Report to the Members Of West Lancashire Freemasons, Charity Opinion We have audited the financial statements ol West Lancashlre Fieemasons. Charity Ithe 'cha¥itVI loi the year ended 31 March 2023 which comprise the Staten*nt of Financial Activities. the 8alarKe SheeL the siaternent of Cash Fbws and ootes to the financial staterrents, including significant accounting policies. The financial repts￿ framework that has been applied in their preparation is appl¢uble law and United Kingdom Accounting Standards, Includi￿ FinarKial RerKJrriNa Standard 102 The Finonciol Reportinissondard opplicoble the UK ond Republic of Irelond Ivnlted Kingdom Generally Accepted Accrwnting Practicel. rnaterial ir￿On$1$teThCVès or apparent mate¥ial misstatements, we are required to determine whether there is a materkil misstatement in the financial statements a material misstatement of the other infr)rmaty'on. ￿. based on the work we have perforrned, we conclude that ttr*re is a material misstatement of this other informatlon. we are required to rep)rt thatlact. We have nothingto report in this regard. Opinions on other rnattets prtsuibed by thecompanies Act 2006 In ourOpn￿n. based on the work unéertaken in the course of Dur audlt.. the information 8iven in the tru5tee5' report, which includes the Irectors, report prepared for the purposes of company law. for the financial year for which the financial ststements are prepared is consi￿ent with the financ￿1 statements,. and tlirettors. report included within the trustees. report has L*en prepared accordance with apPI￿able legal eQUi￿rnents. lo ouropln￿n. financial statements.. give a true and lair view of the State ol the tharitable compan*s affairs as at 31 March 2024 and of its incorniTr8 resource5 and application of ¥e5011Tces. forthe yearthen ended.. have been properly prepared in accordarKe with united Kingdom Generally Accepted AccountinB Practice.. and have been prepèred ifi accordance with the ￿QuIreMents of the Companies Act MatteF5 on whkh we are requJredto report bye¥ctptSon In the light of the know￿d@e and understanding of the cornpany and its environfflent obtained ¢n the course of the audiL we have not identified material misstatements In the irustses, report. We have nothing to rewrt in respect ot the following rnatter5 in ￿latiOn to which the Companies Aci 2006 requires us to report to you if, in our opinion.. adequate 3ccountinz records have fiot been kepL o¥ returns a@uate for our audrt ha* not been reteiveo frorn branche5 notV151ted by us- or the finaficial statements are not in agreement with the accountinK recoids and returns- or certain éisclosu￿s of trustees, remuneratoon specified by law are not rnade.. or we have not receNed all the information and explènations we require forour audil.. or the trustees were r￿t erttytled to prepare the financial statements in accordance with the smèll companies. regime and take advantage of the srnall companies, exemptions in preparing the trustees. re￿rt and from the requirernent to prepare strategK report. Basls for oplnlon We conducted our audr( in 3ttordarKe with International 5tandard5 on Auditing IUKI IISAS IUKII and applicable law. (Jjr ￿$PDnsibIlthe$ under those standards a￿ further descrilJed in the Avditorfs responsibiiifresf the oudit of the finonclol stotements setton of report. We are independent of the charity in accordance with the ethical requ1￿ments that are ￿levant to our audit of the finarKki1 statements In the UK. Including the FRCS Ethtcal Standard. and we have fuffilled our other ethical responsibilities in accordance with these requiremerts. We believe that the audit evidence we have obtsineLI is gJffioent and ppropriate to provide a ba5isfor ouropin￿D. Concluslons rel*ing tC*8dng contern In audknng the fi.nancial statements. we have corKluded that th? trustees. use of the going corKern basls of accountifil in the preparation of the financial ststements is appropriate. Based on the work we have performed. we have not identified any material uncertainties ￿￿ting to events or conditions thaL indivHlualty or collectivety, may cast significant doubt on the chariws ability to ontinue as a going concern for a per￿)(1 of at least nM)nths from when the financial Matements are authorised for issue. Our responsibilities and the responsibilfftes of the trusree5 With resFert to going concern are descri￿￿ in the relevant sectitins of this reporL Responsibiliiies of Trurtees As eXp￿Ined more fvlty in the Statement of Tru5tees' Responsibilities, the trustees. who are alsts the directors of the charity for the purpose of cornpany LAW. are ie5w)nsiblÈ lor the preparation of the liman¢i¥l 5taternents aThd ft>r being sènsh.ed that they give a true and fair view, and for such internal control as the trU￿ee$ determine is necessary to I enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. Other irtformation The trustee5 are responstble for the other information. The other inlormation comprises the information included In the anntsal report. other than the linancial siatememts and our audrtorfs report thereon. Our opinion on the financial Siatemefits does not cover the other Inlormation and, except io the extent oiherwise explicitly ststed in our report. we do not express anyform of assurance Cor￿luSIOn thereon. In preparing the financkal ststements. the trustees are responsible for assesgng the charivs ab"¢lity to continue as a going concern. disclosin& as applicable, matters related to going concern and using the goin8 concern basis of accounting tsnless the trustees either intend to liquidate the charitsble company of to cease operations. or have no realistic alternarive but to do so. In connethon wtfh our audft of the financial statements. sponsibility is to read the other information and, in doin8 so, consider whether the Other information is materially inconsistent with the financial statements or our kmwledge obtained ID the audit or otherwise appears to be materially mlsstated. If we Identify yjth 7 WLFC Annual Report and Accounts 2024 Independent Auditor's Report to the Members Of West Lancashire Freemasons, Charity Audiio¢$ resp¢*￿IbIlI￿eS forthe wdlt of th¢fiha￿lal #•temerfs Our objectives ère to obtain reasonable assurnnce about whether the There are inhErent limitations in our audit procedures described above. financial stètements as a whole a￿ free from materlal misstaiemenL The more ￿MoVed that laws and regulations are érorn ffinèntial transac- whether due to fraud o¥ error, and to issue an a￿d￿￿orf$ report that tions. the less likety it is that we would become aware of non-ctsmpliance. Includes our opinion. Reasonable assurance is a high level of a55ur4nce. Audit standards also limit the audit procedure5 required to identTfy non- but is not a guarantee thai an audit condutted in accordarKe with IS45 compliance with laws and regu￿bOD5 to enquiry of the directors and otl IUKI will always detett a material misstatement when it exists. er manageff*nt and the in5Fection of regulatory legal correspond- Mi5Ststements can arSse from fraud or erro¥ and are considered materbal e￿e, rf aThv. individually or In the aggregate, they could ￿8$ofiab￿ be expected to inffiuence the econcrnic decisions of users taken on the ba&s of these l financial statements. Material misstatsrnents that adse due to fraud can be harder to Lletect than I￿Se thar arise frorn error as they rnay involve deliberate conceal- ment orcouusion. Irregularities, Including Iroud. are instsr*es of non-com￿la￿e with laws and regulation5. We design protedures in line w¢th our responsibilities. A further descrfjpDon of our responsibilities Is available on the Financlal outlined aix)ve. to detect material misstatements in respect of Reporrir CourKil's websrte at.. httpS..//w￿W.frC.Org.uV irrEgulafities. including fraud. The extent to which our pr￿d￿re5 are audrtorsreston5ibilitre5.This dexripts'on forms part of OUT auditorf5 report. Ca￿ble of detecting irregularities. inrluding fraud. is detai￿d bÈlow. its¢ of Report This report s made solely to the cornp3rf5 members, as a body, in ac- cordance with sectbon 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken $0 that we rnoht 51ale to the tompanrfs rnem- bers those mattors we are required to state to them in an auditors, ￿port i and for other purpose. To the fullest extent permitted by law. we do )1 accept or assume res￿nSibIlity to anyone other than the company nd the compan￿$ members a5 a body* for our avdit work, lor thi5 report. orfrjrthe opiftitsns we have fomied. Based on gur understanding of the charitable cornpany and sector. we identifred that rhe principal risks on non-compliarKe with laws and regulatr.ons related to. bJt were not lirnited to. the Companies Act 2CrfJ6. The Charities Act 2011 and Health and Safety ￿gIslatiOn and we considered the extent to which non