The Provincial Grand Lodge of Bedfordshire Charity Fund
A Charitable Incorporated Organisation
Registered Charity Number 1175414
Financial Statements Year ended 30 June 2023
114 High Street Cranfield Beds MK43 0DG Tel (01234) 752566 www.JVCA.co.uk info@jvca.co.uk
Page 1
The Provincial Grand Lodge of Bedfordshire Charity Fund
REPORT AND ACCOUNTS FOR THE YEAR ENDED 30th June 2023
| Trustees | Mr Martin Wilson, Chair |
|---|---|
| Mr Simon Barter | |
| Mr Robert Venn | |
| Mr Stuart Hamilton French | |
| Mr Robert James Curson | |
| Mr Robert John Lovesey DL | |
| Bankers | Barclays Bank plc |
| 111 High Street | |
| Bedford | |
| MK40 1NJ | |
| Correspondence Address | Mr S Attwood, Treasurer |
| The Keep | |
| Bedford Road | |
| Kempston | |
| MK42 8AH | |
| T: 01234 214292 | |
| E: office@pglbeds.org | |
| Independent Examiner | Mr J C Vowles FCA |
| 114 High Street | |
| Cranfield | |
| MK43 0DG |
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The Provincial Grand Lodge of Bedfordshire Charity Fund
TRUSTEES ANNUAL REPORT
For the period ended 30th June 2023
The Trustees submit their Annual Report and the financial statements for the period ended 30 June 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity was founded by adopting a constitution as a Charitable Incorporated Organisation dated 27 October 2017.
Organisation
The names of the Trustees who served during the year are set out on the previous page. Trustees meetings are held on a regular basis, with ad hoc meeting being held as and when necessary. The trustees obtain the advice of professional investment advisers as regards the investment of the charity's funds.
Day to day running of the organisation is handled by the chairman and the Treasurer.
Risk Management
The trustees carry out an annual review of the risks which the charity may face, have established systems and procedures to mitigate any risks identified and minimise any potential impact should any identified risks materialise.
OBJECTS AND ACTIVITIES
Objects
The objects of the charity are:
To relieve the needs of individuals, charities and other organisation in Bedfordshire by donations, grants and other financial assistance and also by the provision of goods or services.
Activities for the public benefit
`
The Trustees have due regard for the guidance on public benefit and achieve these aims by providing grants and donations to charities, organisations and individuals as the Trustees decide after taking advice from the Charity Committee of the Provincial Grand Lodge of Bedfordshire.
The Trustees have referred to guidance contained in the Charity Commission's general guidance on public benefit when reviweing aims and objectives and in planning future activites. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
ACHIEVEMENTS AND PERFORMANCE
As is set out on note 8 to these financial statements, a range of payments have been made to 19 beneficiaries. Of this £5,563 has been paid out to masonic charities and £29,138 to non-masonic charities. Grant payments are considered by the Charity Committee and are normally paid in respect of projects rather than to cover day-today expenditure.
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The Provincial Grand Lodge of Bedfordshire Charity Fund
TRUSTEES ANNUAL REPORT continued
For the period ended 30th June 2023
FINANCIAL REVIEW
The results of the charity for the year are set out in the Statement of Financial Activities on page 5.
Budgets and Reserves
The Trustees have ultimate responsibility for directing the affairs of the Charity, ensuring it is solvent, well-run and delivering the outcomes for which it has been set up. Part of this is having policies, plans and budgets to achieve those objectives, and monitoring performance against them. The Trustees have introduced a policy of long term investment of reserves to maintain the capital of the charity that will be reviewed annually.
Statement of trustee's responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Charity law 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 the profit or loss for that period. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the entity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the entity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the entity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement as to disclosure of information to Examiners
So far as the trustees are aware, there is no relevant audit information (as defined by the Charities Act 2011) of which the entity's financial examiners are unaware, and each trustee has taken all the steps that he ought to have taken as a trustee in order to make himself aware of any relevant audit information and to establish that the entity's auditors are aware of that information.
The company has taken advantage of the small companies’ exemption in preparing the above report.
Approved by the Trustees on 22 December 2023 and signed on behalf of the Trustees by:
………………………………
09/01/2024
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The Provincial Grand Lodge of Bedfordshire Charity Fund
FINANCIAL EXAMINER'S REPORT TO THE TRUSTEES
For the year ended 30th June 2023
I am reporting to the charity trustees on my examination of the accounts of the company for the period ended 30th June 2023 which are set out on pages 6 to 11.
Responsibilities of trustees
As the charity’s trustees (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
Basis of examiner's report
Having satisfied myself that the accounts of the Company are not required to be audited for this year and are eligible for independent examination and that I am qualified to carry out the independent examination under Section 145 of the Act. I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. The procedures undertaken do not provide all the evidence that would be required in an audit, consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner's statement
Having completed my examination. I confirm that no material matters have come to my attention which gives cause to believe that:
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accounting records were not kept in accordance with section 130 of the Act; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under 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 in order to enable a proper understanding of the accounts to be reached.
Signed Mr JC Vowles FCA
JVCA Ltd, Chartered Accountants 27/03/2024 114 High Street Cranfield MK43 0DG
Page 5
The Provincial Grand Lodge of Bedfordshire Charity Fund STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30th June 2023
| Note | 2023 | 2022 | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| INCOMING RESOURCES | |||||
| Incoming resources from generated funds | |||||
| Voluntary income: | |||||
| Donations | 5,102 | 2,186 | 7,288 | 5,420 | |
| Collections | - | - | - | - | |
| - | - | ||||
| Activities for generating funds: | - | - | |||
| Fundraising events | - | - | - | - | |
| TLC Draw income | - | - | - | ||
| Amazon Smile | 436 | 436 | 279 | ||
| Profit on sale of books, jewels, ties and regalia | 553 | - | 553 | 400 | |
| - | - | ||||
| Investment income: | - | - | |||
| Dividends & interest on investments | 9,491 | - | 9,491 | 8,642 | |
| Bank interest received | 274 | 274 | 7 | ||
| ----- | ----- | ----- | ----- | ||
| 15,856 | 2,186 | 18,042 | 14,748 | ||
| ----- | ----- | ----- | ----- | ||
| RESOURCES EXPENDED | |||||
| Charitable activities: | |||||
| Donations | 30,411 | 4,290 | 34,701 | 33,218 | |
| TLC Draw payouts | - | - | - | ||
| Brokers Fees | 4,656 | - | 4,656 | 4,833 | |
| Bank charges | 117 | - | 117 | 105 | |
| Software costs | 124 | - | 124 | 277 | |
| Governance costs | - | - | - | - | |
| ----- | ----- | ----- | ----- | ||
| 35,308 | 4,290 | 39,598 | 38,433 | ||
| ----- | ----- | ----- | ----- | ||
| Net incoming /(outgoing) resources before other | ( 19,452) | ( 2,104) | ( 21,556) | ( 23,685) | |
| recognised gains and losses | |||||
| Other recognised gains and losses | |||||
| Realised gains /(losses) on investments | - | - | - | 41,910 | |
| Unrealised gains /(losses) on investments | 6,315 | - | 6,315 | ( 93,514) | |
| Fund transfers | - | - | - | - | |
| ----- | ----- | ----- | ----- | ||
| Net incoming/(outgoing) resources | ( 13,137) | ( 2,104) | ( 15,241) | ( 75,289) | |
| Fund Balances at 1st July 2022 | 466,422 | 7,135 | 473,558 | 548,847 | |
| ----- | ----- | ----- | ----- | ||
| Fund Balances at 30th June 2023 | 453,285 | 5,031 | 458,318 | 473,558 | |
| ----- | ----- | ----- | ----- | ||
| - | - | - |
Page 6
The Provincial Grand Lodge of Bedfordshire Charity Fund BALANCE SHEET As at 30th June 2023
| Note | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Investments | 2 | 422,501 | 411,350 | ||
| CURRENT ASSETS | |||||
| Lodge dues and debtors | - | 400 | |||
| Cash at bank | 35,817 | 62,251 | |||
| ----- | ----- | ||||
| 35,817 | 62,651 | ||||
| LESS CURRENT LIABILITIES | |||||
| Creditors and accruals | - | 443 | |||
| ----- | ----- | ||||
| NET CURRENT ASSETS | 35,817 | 62,208 | |||
| ----- | ----- | ||||
| TOTAL NET ASSETS | 458,318 | 473,558 | |||
| ==== | ==== | ||||
| Represented by: | |||||
| FUNDS | 3 | ||||
| Restricted funds | 5,031 | 7,135 | |||
| Unrestricted funds | 453,285 | 466,422 | |||
| ----- | ----- | ||||
| 458,318 | 473,558 | ||||
| ==== | ==== | ||||
| - |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Approved by the Trustees on 22 December 2023 and signed on their behalf by:
………………………………..
Trustee
09/01/2024
Page 7
The Provincial Grand Lodge of Bedfordshire Charity Fund NOTES TO THE ACCOUNTS for the year ended 30th June 2023
1 ACCOUNTING POLICIES
(a) Basis of accounting
The accounts have been prepared under the historical cost convention, with items recognised at cost or transaction value unless otherwise stated, and in accordance with the Statement of Recommended Practice (SORP 2015) "Accounting and Reporting by Charities" and in accordance with Financial Reporting Standard 102, and the Charities Act 2011. The functional currency is sterling and the amounts are rounded to the nearest £.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
(b) Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. This includes funds which are given for specific purposes.
(c) Incoming Resources
Income is accounted for on a receivable basis.
(d) Resources expended
All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Approved grants or donations are accounted for when payable. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requiremnts of the charity and include costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.
(e) Investments
Investments are stated at market value. Variations in their year end value, realised and unrealised, are dealt with through the Statement of Financial Activities.
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The Provincial Grand Lodge of Bedfordshire Charity Fund NOTES TO THE ACCOUNTS
for the year ended 30th June 2023
| 2 | INVESTMENTS | 2023 | 2022 | |||
|---|---|---|---|---|---|---|
| Market value at 1st July 2022 | 411,350 | 509,145 | ||||
| Reinvested income | 9,491 | 8,642 | ||||
| Brokers Fees | ( 4,656) | ( 4,833) | ||||
| Gain/(Loss) on sale of investment | - | 41,910 | ||||
| Gain/(Deficit) on revaluation | 6,315 | ( 93,514) | ||||
| Transfers out | - | ( 50,000) | ||||
| ----- | ----- | |||||
| Market value at 30th June 2023 | 422,501 | 411,350 | ||||
| ==== | ==== | |||||
| Historical cost at 30th June 2023 | 284,956 | 284,953 | ||||
| ==== | ==== | |||||
| UK Equity Instruments | 113,990 | 107,648 | ||||
| ROW Equity Instruments | 152,019 | 142,018 | ||||
| Multi Asset funds | 51,998 | 52,876 | ||||
| Alternative funds | 43,637 | 52,786 | ||||
| Cash held within investment portfolio | 60,856 | 56,022 | ||||
| ----- | ----- | |||||
| Total Market Value | 422,501 | 411,350 | ||||
| ==== | ==== | |||||
| 3 | SUMMARY OF FUND MOVEMENTS | |||||
| Balances at | Balances at | |||||
| 1st July | Incoming | Outgoing | Fund | 30th June | ||
| 2022 | Resources | Resources | Transfers | 2023 | ||
| Restricted Funds | ||||||
| Teddy Bear Fund | 7,135 | 2,186 | ( 4,290) | 5,031 | ||
| ----- | ----- | ----- | ----- | ----- | ||
| 7,135 | 2,186 | ( 4,290) | - | 5,031 | ||
| ----- | ----- | ----- | ----- | ----- | ||
| Unrestricted Funds | ||||||
| General fund | 45,776 | 5,798 | ( 30,652) | - | 20,922 | |
| Gwynn-Jones fund | 411,350 | 15,806 | ( 4,656) | - | 422,500 | |
| TLC Designated fund | 9,296 | 567 | - | - | 9,863 | |
| PGM's list | - | - | ||||
| ----- | ----- | ----- | ----- | ----- | ||
| 466,422 | 22,171 | ( 35,308) | - | 453,285 | ||
| ----- | ----- | ----- | ----- | ----- | ||
| Total Funds | 473,558 | 24,357 | ( 39,598) | - | 458,318 | |
| ==== | ==== | ==== | ==== | ==== |
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The Provincial Grand Lodge of Bedfordshire Charity Fund NOTES TO THE ACCOUNTS for the year ended 30th June 2023
4 ANALYSIS OF NETS ASSETS BY FUND
| SIS OF NETS ASSETS BY FUND | Net | ||
|---|---|---|---|
| Investments | Current | Total | |
| Assets | |||
| Restricted funds | - | 5,031 | 5,031 |
| Unrestricted funds | 422,501 | 30,784 | 453,285 |
| ----- | ----- | ----- | |
| At 30 June 2023 | 422,501 | 35,815 | 458,318 |
| ==== | ==== | ==== | |
| Restricted funds | - | 7,135 | 7,135 |
| Unrestricted funds | 411,350 | 55,072 | 466,422 |
| ----- | ----- | ----- | |
| At 31 June 2022 | 411,350 | 62,207 | 473,558 |
| ==== | ==== | ==== |
5 RESTRICTED and DESIGNATED FUNDS
(a) Teddy Bear Restricted Fund
The Teddy Bear fund is to provide teddy bears to young patients at hospitals within Bedfordshire. Donations to this fund are restricted in nature.
(b) Designated donations
Designated donations represent funds held at the year end to be paid to beneficiaries as specified by the donors.
(c) Designated funds
The Gwynn Jones Fund is general fund that has been set aside or designated by the Trustees to be preserved for larger projects. The original gift was made free of any conditions, but the trustees have some regard to Mr Gwynn Jones views that he wanted to benefit younger persons.
The TLC Draw fund is a general fund that has been set aside or designated by the Trustees to ensure that the charity can ensure a long term commitment to the Teddy Bear restricted fund. Profits from the draw or from used regalia sales are reviewed periodically and either maintained as a designated fund, released to the Teddy Bear Restricted Fund or released to the general fund as seems fit at the time.
(d) Bedfordshire Scouts fund
The Bedfordshire Scouts fund is an appeal on behalf of the Provincial Grand Master to raise sufficient funds to provide a purpose built building for the Scouting movement in the province. Donations to this fund are restricted. This fund completed during 2021.
6 TRANSACTIONS WITH TRUSTEES
None of the Trustees received any remuneration from the charity during the year (2022: £nil)
7 EMPLOYEES
| OYEES | ||
|---|---|---|
| 2023 | 2022 | |
| Average number of employees | nil | nil |
| ==== | ==== |
Page 10
The Provincial Grand Lodge of Bedfordshire Charity Fund NOTES TO THE ACCOUNTS As at 30th June 2023
| 8 GRANTMAKING | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | |
| Bedfordshire Scouts | - | - | 443 | |
| Teddies for Loving Care | - | 4,290 | 4,290 | 2,073 |
| MCF 2026 | 100 | 100 | - | |
| 9 O'Clock donation | 673 | 673 | - | |
| Martin Foss Award | 500 | 500 | 500 | |
| SMART Criminal Justice | 500 | 500 | - | |
| Walking with the Wounded | 1,000 | 1,000 | - | |
| Special Needs Out of School Club | 961 | 961 | - | |
| Service by Emergency Response | 4,000 | 4,000 | - | |
| Tall Ships Youth Trust | 1,000 | 1,000 | - | |
| Bedfordshire Opportunites for Learning Disa | 1,000 | 1,000 | - | |
| Dunstable Foodback | 1,500 | 1,500 | 1,000 | |
| The Need Project (Foodbank) | 1,500 | 1,500 | 1,000 | |
| Bedford Foodbank | 1,500 | 1,500 | 1,000 | |
| Luton Foodbank | 1,500 | 1,500 | 1,000 | |
| Leighton Linslade Helpers (Foodbank) | 1,500 | 1,500 | 1,000 | |
| Hospital Chocolates | 328 | 328 | 352 | |
| Highground Project, the Army covenant | 2,350 | 2,350 | 500 | |
| MAGPAS East Anglian Air Ambulance | 10,000 | 10,000 | - | |
| Autism Bedfordshire | 500 | 500 | - | |
| Transitions UK | - | - | 1,000 | |
| BEDA | - | - | 1,100 | |
| Ukraine 2022 Appeal | - | - | 10,000 | |
| PGL Warwickshire | - | - | 500 | |
| Fancott Railway | - | - | 500 | |
| Bedford Hospital Trust | - | - | 10,000 | |
| Enterprising Youth | - | - | 1,250 | |
| Sundry Small Grants | - | - | - | |
| ------- | ------- | ------- | ------- | |
| 30,411 | 4,290 | 34,701 | 33,218 | |
| ==== | ==== | ==== | ==== |
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