Charlty reglstratlon numb•i 1178008 CORNWALL MASONIC CHARITABLE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CORNWALL MASONIC CHARITABLE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trusteés Mr D G Leaity, PrÈsidenl Mr M B Prilthard Mi O G Maskell Mi G N Bennett Mr L J Slegp Charlty numb•r 1178008 Prln¢lpal offl¢e Provincial Grand Lodge of Cornwall 7A New Brvjge Street Truro Comwall TR12AA Indèpond•nt èxamlnèr Matthew Webb Azels Audit Services Woodlands Court Truro BUSISS Park Truro Cornwall TR4 9NH Bankar4 Uoyds Bank Pl¢ 7 Boscawen Streel Truro Comw811 TRI 2QT Brokers Brewin Dolphin 22 Lemon Street Truro Comwall TR12LS
CORNWALL MASONIC CHARITABLE FOUNDATION CONTENTS Page Twslees. report Stslemenl of Trustees, respon$ibililYJs Independenl examlne¢8 report statemènt of finanual activities Balancè shè81 Notes to the finanrAal statements 8-17
CORNWALL MASONIC CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Thè Trustèes prèsent their annu31 rèport and finaneial slalemenl$ fcfthe year ended 31 Dernber 2024. The financial 51atement3 have been prepared in alxordance with th8 accounting policies sel out in note 1 to the financial stalements and compty with the Charity's governing docJJm8nt, the Charities Act 2011 and"Accountiny and Reporting by Charrties.. Statement of Recommended Practice applicable lo charities praparing their accounts in accordance wilh the Financial Rèporting Standard applicable in the UK an¢J Ropublir of Ireland IFRS 102)" leffeclive 1 January 20191. Obi•ctiv•s and aims The objects ol the Charity are to re1Ve donations from individual Masons, Lod9Ès, Ch8plers and other Ma50nic Bodies, and to distribute such sums to Masonic and N0Mason1¢ Charities whether or not registered under the Chariti&s Aci, and lo also offer help and as$i$tancg lo potsr ond distressed Fieemasons and their fafflilies who are in neèd. The trusteès meèt annually to consider thè grants to bè made during thè forthtthiing yèar and there is al$0 an inveslm9nt sutTr¢ommittg9 that meg1$ a$ and whon required. The Cornwall M8$oni¢ Charitsble Foundation ICMCFI was formed in 2018 after the dea5ion was taken by the Trustees lo c103e the Comwall Masonic Benevolent Fund {CMBF} and the Cornwall Masonic Grand Charty ICMGCI whose work had been supèrseded by the inlrc>duction of the Relief Chest system under the auspicès of the Freemasons Grand Charity in London, where donations to local festival fund raising, would h8nc8forth w direct from individuals and lodges to the Relief Chest, and not through the local charities. The Trusteos have paid du& iegard to guidance issued by the Charlty Commi$$ion In de¢kling whal actNia5 the Charity should undertake. A¢hi*v•m•nts and porfomi•n¢• The charty has been well supported by Ihe Freemasons of Cornwall, indivKlualty and through their respethe lodges. During the year the Charity received donations of £22,324 {2023- £21,95ei. Financlal rèvlèw Toial income for th& y•ar was £50,71112023.' £46.539}. Thera are no re$lricttons on the CharKy's power lo invest. The Investment strategy Is revlewed annually by the trusteès and takes into account tha income rèquirèments, thè risk profile and the investment manager's viow ol the matkel prospects in the medium letrn. It is the Charity's policy to invest unieslricted funds in low and methum risk investments in a balan¢èd portfolio- to seek an annual retum of beeen 3% and 4% such as lo meet as far as possible 8dminislralive and support costs- and to hold ¢a$h balances sufficient lo cover those costs and grants for the following tr40 years. Reserves pollcy The rttserves policy is as follows:_ To hold suffi¢ont invèslmènls with the aim Ihot they will produce. al a minimum. a notional 4% annual r•tum in ordeT to meet the chaiily's annual running c051s. Based on annual chaTltable expendituie of approximately £35,000 the charity aims 19 hold investments of al least £875,000. The Trustees recognise Ehat due lo rnatket conditions the investment held al 31 December 2024 of £799.152 does not meet this and Mll rewew the investment policy. In addition lo hold suffiaenl reserves held in cash al bank in sufficienl to meet at least fv40 years-worth of gross expenditure. Based on annual charitae expenditure of approximate £35,0 the charity aims to hold ¢ash at bank ol at least £70.000. As al 31 December 2024 the charity held investments of £799,15212023". £779,929> and cash al bank of£89,68512023.' £95.7321. Free r&setves were £883.02812023." £872.9751. The Iru51ees are of the view that these reserves are sufficient to meet the objectnies of the charity and also ensure it is able lo continue in operatictn.
CORNWALL MASONIC CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ri¥k m8n•gom•nt The Trustees have reviewed the major strategic and operational risks which the Charity faces and ¢onllrrn that syslgms have been established to enable regular reports 19 be produ¢ed $0 that the necessary step$ ¢an be taken to lessen Ihose risks. The main areas of ¢isk identrfied were'.- Signrficant lontém loss in the value of the investment portlolio.. this has bttn mitigated by Ihe Continued engagement of brokers ar by giving them appropriate in$lru¢tion$. The possibility of donations lo inappiopiiale charilabl? purposes: Ihls ha5 been mi119aled by careful s¢rutiny by thè TrLJSteÈs of likèly rècipients. General operational ii8ks'. these have been mitigated by close control and supervision of the day-lfyday operations of the Charity by executive members and the adoption of best pr8¢tice Its all aspects of th8 Charty's activities. Slructurn, governan and managemont The Comwal Masonic Charitable Foundation is consliluted as an unincorporated association, is govemed by the eonstitulioTh adopted on 1 April 2017 as amended on 2 June 2021 and is a registered charrty No. 1178008. The Truglees are Ihe persons that hold Ihe following positions within the Province of Cornwall.. Th8 Provincial Grand Master The Depuly Provincial Grand Master The Assistant Provin¢ial Grand Mastèrs The Provincial Grand Charity Steward Induction pro¢edure$ ars in pla¢e for newly appointed Tryslges. Overall policy 1$ delemined by the Trustees 88 a whole. wllh day to day management delegated to Ihe seetary Mr A.J. Powell lunlil 15 Augus120251, then Mr P Everest {on an interim basi5 from 25 Seplernber 20241 and the adminislraltsr Mr l.B. Henwood. The financial Ir8ns8clions and bank reconciliations for the CornwaN Masonic Charitable Foundalion are completed by Ihe Assistant Treasurer Mr P.R. Moore. The Trustees who served during the year and up to the date of signature ofthe financial statements were.. Mr D G Leaity. President MrA J Powèll, Seu•tary and TraasLtrer Mr M B Prrtchard Mr D G Maskell MrG N Bennett Mr LJ Sleep Mr P Evere8t, Seuetary and TSsUre1 (Rèsignèd 15AuoUSt 2024} {Appointed 29 January 2025) The Management Committee wrfl appoint and may detemiine the appointment of not less than four person$ lo aci as Trustees of Ihe Foundation for the purpose of holding any monies. investments or property befonglng lo thè Foundation. Public bpnfit The Trustees consider they have complied with their duty in Se¢tlon 17 01 the Charities Act 2011 which requires Ihern lo have duè regard lo guid8n¢è published by the Ch8nty Commission. In particul8r. IhÈ Charity believes that in supporting the Central Ma50nic Charilies in rotation through Festival Appea15 it 15 reathg me than 200,CXXI Freemason5 in England & Wales and 8 Similar number of dependants as deribed above.
CORNWALL MASONIC CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Truste repo was approved by the Board of Trustees and signed on Mr Leaity. Presi ent Mr O G Maskell Dale.. 20
CORNWALL MASONIC CHARITABLE FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees are responsible for weparing the Trustèes. Report and the finanrial stalaments in a¢¢oidance with applicabl& law and Unitèd Kingdom AcLounting Standards Iunitad Kingdom Gènerally Aeceptèd Accounting Practice). Thè law applicable to d)arities in England and Wklès requiros thè TryFsl¢es to pre financial ststemenls for ea fin8n¢ial year which give 8 true and fair view of th& stale of affair5 of the Chaiity and of the incoming resources and appli¢alFon of resources of the Charity for that year. In preparing these ffinancial stslement4 the Tru51ees are required lo.. - seled suitable accountng pc4ioes and then appty thern consistentty,. - observe the rnethods and principles in the Charities SORP., - mak8 judgements and estimates thal ar8 rèasonabl8 and prudent., $tatg whethèr appli¢able atsUnlIn9 slandaid$ have been follgwed, Subje lo any wnatewial departures disdosed and explained In the finan¢yal slalements." an prepare the financial statements on the going concem bass uftlÈss it 1$ inappropriate ltr presume that the charty will continue in opwation. The Trustee8 a reSp¢ible for keeping sufficient accxjunling reojrds that disch)se with reasonable accuracy at any time the financtal position of the Charity and enable them to ensure that the financial statements comply with the Charilies Act 2011, the Charity {Accounts and Reports) Regulations 21)08 and the provisions of thè Iru$l dd. They are also responsible for safeguarding the asse15 of the Charity and hence for taking reasonable steps for tho prevenbon and detection of fraud and other irregularities.
CORNWALL MASONIC CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CORNWALL MASONIC CHARITABLE FOUNDATION I report to the Twslees on my examination ol ihe finanThal stalemenls of Cornwall Masonic Charitable Foundation (the Chanty) for the year ended 31 Dernber 2024 which are set out on pages 6 to 17. R•$ponslbllltl•$ ab)d basls of r•port As the Trustees ol the Charity you are responsible for the preparation of the financial statem8nls in accordance wrfh the requirements of the Charities Act 2011 (the 2011 Acti. I réport in respect of my examination of the Charity's finarrial statements carried out under sèction 145 of the 2011 Act. In carrying out my exarninalion I have followed all the appCable Directi(x)s given by the Ch8tty Commission under section 14515llbl of th& 2011 Act. Independent examln?rf$ gt4tsment Your attention is drawn lo th& fa¢t that the charity h8$ prepar¥d ffin8ncS818ts1gmgnts in 1rdance with Accounting and Rèporting by Charities prèparing their aeeounls in accordance with thè Financi31 Rèporb"ng Standard applicable in the UK and Republlc of IrelaNd {FRS 1021 In preference lo tho Acco)unting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 whlch is referred lo in the extant regulations bul has now been withdrawn. l understand Ihal thi5 has been done in order for financial slalernents lo provide a true and fair view in ac¢ordan¢e with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have complated my gxamination. I confimi that no matters hav& come to my att8ntion in nneCt)n wrth the examination giving me eause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the finarneial ststèmènts do not a¢¢tsrd wrth those récords.. or thè financjal statements do not comply with the applicable requirements concerning th8 fom and CnIent of accounts set oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe aKounts give a tru8 and fair vièw whi¢h 1$ not a matt•r ¢onsidered as part of an in¢J•psndènl examination. I have no ¢on¢ems and have Come 8¢fj0ss no olhef maitefs in connedion wrfh the examination lo which attention should be drawn in this report in order lo enable 8 proper understanding of the financial st*ements lo be reached. Matthgw W•bb BA IHon81 BFP FCA Az•ts Audbi S•r4le Woodland$ Court Truro Business Park Truro Cornwall TR4 9NH United Kingdom
CORNWALL MASONIC CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unre¥trictsd R•$tri¢tod funds funds 2024 2024 Totsl Unr¢¥tricted Restri¢ted funds funds 2023 2023 Total 2024 2023 Income from: Donalion5 Investments 18.005 28,387 4,319 22,324 28,387 17,079 24.583 4,877 21,956 24.583 Total incom• 46,392 4,319 50,711 41.682 4,877 46.539 ndlwre on: Charitable donation5 21.000 5.107 28,107 16,300 4,873 21.173 Charitable activities 35,689 35,689 33,007 33,007 Totsl •xpendIre 56.689 5,107 61,796 49,307 4,873 54,180 Nel gaInO0$$es) on investments 25.350 25,350 28,306 28,X Net Incomlnglloirtgolngl resources before transf•Ys 15.053 {7881 14.265 20,661 20.665 Gross Iransfeis between funds 15,0001 5,000 Net movemenl in funds 10,053 4.212 14,265 20,661 20.665 Fund balances at l January 2024 872,975 872,979 8S2,314 852,314 Fund balan¢è8 at 31 December 2024 883,028 4,216 887,244 872,975 872.979 Th& slatémenl ol finarla1 adivities indudes all gains and losses recognised in the year. All income and expenditu dwive from nb.Alng 8¢tiwlies.
CORNWALL MASONIC CHARITABLE FOUNDATION BALANCE SHEET AS A T 31 DECEIABER 2024 2024 2023 Notès Frxed assets Investments 11 799,152 779,929 Current assets Stocks Debtors Cash at bank in hand 12 13 1,462 170 89,685 158 95,732 91,317 95,890 Cr8ditors= amounts falllng due within one year 14 13.2251 12,8401 Nel ¢ent assats 88,092 93,050 Total assets less currènt liabilitios 887,244 872,979 Income funds Restricted funds Unrestricted funds 15 4,216 883,028 872.975 887,244 872.979 The financial sta ent wer8 approved by thè Board of Trustees on.Y. ..kb¥u a 202S MrDG ,fesident
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢eountlng poll¢l•$ Charlty Infomiatlon Cornwall Masonic Charitable Foundation is ¢on$tituled as an unincorporated association. governed by the ¢onsf(ution adopted on 1 Awil 2017, as amended on 2 June 2021, and is a regislered charity, No. 11781)08. 1.1 Accountlng ¢¢nv•ntlon Thg finan(ial slalements have been prepared in aordan¢e with the Charrfys constitution, the Charflies Acl 2011. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" fFRS 102) 8nd the Charitiès SORP "Accounting and Rèporting by Chaiities.. Statement ol Recommended Piactice appcal& to charities prèpbring th8ir accounts in accordance with thè Financial Reporting Standard applicable in the UK and Republic Ireland {FRS 1021 l•ffe¢tiv 1 January 2019}. Thè Charty is a Public Benerrt Enlrty as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not lo prepa a Statement of Cash Flows. The f#)anaal statements have departed from the Charities {Accnunts and Reports) Regulations 2¢XI8 only to the exlenl rgquirgd lo providg a true and lair viw. Thi$ departure has involved following the Slalement of Rècommended Practice for charits app.n9 FRS 102 rather than the version of the Statement of RecoTnmen(led Practice which is referred lo in the Rggulations bLrt which hgs sincè baan withdrawn. The financial statements are prepared in sterling. which 18 the fvncti¢nal cuThency of the Charrty. Monetary amounts in these ffinancial statements are rounded lo the neaiesl £. The financial statemenls have been prepared under the historical cosl convention, modrfied to irlLbJa inv•stsnants at fair value. The principal accounling policies adopted are set out below. 1.2 Going ¢on¢om The ffinancial statements have been prepared on the going concern basis. The Iruslees have considèred a period of twe• months trom the dat• of approval of the financial statements and have a ieasonable expectstion that the tharity has adequate resources to continue in operational existen for Ihe foreseeable fulure. The ttustee$ of th¢ wew that there are no material uneertainltes that may creale significant doubl over the charty's abilty lo ¢¢11ne as a going ¢oncern. 1.3 Ch•ritsbl• funds Unrestricted lunds are availat4e for use al the disc¥elion of the Trustees in furtherance of their charitablg objectives. Restricled funds are subject IQ specific conditions by donors a$ 1¢ how they may bè u$•d. The purposes and uses of the restricted lunds are set out in the notes lo the financial statements. 1A Incomo Income comprises mon8y r8C8ived from its principal souickns, namety the rec8ipt of subscriptions. dCiatns, invtrstment income and bank interest. Subscriptions and donations are rectsgnised when receivable. Lega¢i&s are induded whgn Ihg charity 1$ advis¢d by the personal representalive of an est that payment will be made. All incomè leiVed during yèar was darived in thè United Kingdom. Investment income is recognised on an accruals basis. Dividend income is recognised when rJht lo cèivèd payment is establish8d. Interèst income is racognis8d using the effecliv& interest method.
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (cont1ndI 1.5 Ewnditur• Expenses 8re re¢ogni8ed on an ac¢m81s b8858. Donations are ch8rged in the ar when paid OT accrued when 8 liability is established. Costs of generalng funds comprise c0515 for the running of the Charity itself as an organisalion and the C05t of promotional item& G0Veman costs are those associated with the Charity's constilLtlional and statutory reqvirements and ils strategic management responsibilities. 1.6 Flxgd asset investments Fixed as5el investments are iTiilially measured al Ir8nsa¢tion prKo ex¢lJding transactiC*n costs, and are subsequently measureil al fair value al each reporting dale. Changes in fair value are recognised in net incomel{expendilurel for the yeai. Transaction ts aFe expensed as incurred. 1.7 Stock• Stocks are stated at the lower of cost and eslimated selling price less costs to complete and sell. Cost comprises dired materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution al no 01 nominal consideration are measured the lower of placement cost and cost. realisable vahje is the estimated selling price less all estimated costs tsf ts)mpletion and costs to iUrred in marketing, sellir4J and distribution. 1.8 Ca•h and cash equlvalents Cash and cash equNalents include cash in hand, deposits held at c811 wth banks, other short-tem liquid inveslments with original maturilies of three months or less, and bank overdrafts. Bank overdrafis are shown within borrowings in current liabilities. Flnonclal Instruments The Charity has elected to apply the provisions of Section 11 'Basic Finanrial Instruments, and S8clion 12 'Other Financial Instruments Issues, of FRS 102 to all of rts finanal instnjmenls. Financial instruments are recognised in the Charity's balance sheet when the Charity beo)mes party to Ihe ¢ontractual provisions of the instrument. Financial ass8ts and liabilOS ar• offset, wtih the net amounts presenled in the finanaal slalements, when thère is a legally enforceable rigm to set off the recognised amounts and there is an intention to settlè on a nel basis or to realise the asset and setue the liability simultaneously. Flnan¢ial assets and liabilities are classified into speci)led categories. The das%ffication depends on thè nalure and purpose of tho finan¢tal a$s¢l or liability and is detemiined * th• time of recognition. Ba51¢ financlal &3s•ts Basic financial assets. which indude debtors, cash And bank balances. are iiitialty measured at transaCtn prirE in¢luiJing Iransadign and ale subsequently cartied at amortised ¢ost using tho effedivg inloresl method unless thè arrangement constrtutes a financing transaction. where the transaction is measured 8t the present value of the futurè reeeipls discounted at a mathet rats of Inl&rg$t. Ftn8n¢691 assgts ¢18ssified as receivable within one yeai ale not amorbsed.
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Actountlng pollcl•s {Continu•dl Basle Ilnanclal Ilablllll&s Basic financAal liabilities, indudiig creditors and tslher pay8bles a inrtially recognised al transaction priee unless the arrangement wnslitutes a financAng Iransaclion, where the debt inslrumenl is measured at Ih present value ol the future payment5 discoLtnled at a market rale ol inleresl. Financial liabilities dassffied as payable within one year are not amortised. Dèbt instruments are subsequentty carried at amortised cost, using the effective interest rate method. Tde rytrditors are obli9alions to pay for goods or sèrvie•s that havè bèen acquirèd in the ordinary course of operations from suppliers. Amounts payable are dassrfied as ¢Utrewil liabilities rf p8ymenl is due within one year or less. If not, they arè presented as non-current liabilities. Trade creditors are recognis&d initially at transaction wict and subsequenuy m##sured al amortised $1 using the effe¢tive interesl method. Der8cognition oifinancialliabiliti•s Financial liabihties ale dereiwni$ed when the Chanty's ¢ontradual oblallOnS expiro or aré discharged or cancelled. 1.10 Taxation The charty is exempt tsx on ils chaiitable activities. 10-
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 InveBtments Unrestricted Unrnstrl¢t•d tund$ fund 2024 2023 Income from investments Interest ieceivab 27,359 1,028 23,810 773 28,367 24,583 12-
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Chafftable donatlons {unre8trictedl 2024 2023 Cornwall Blood &'kes Merfin MS Centre Comw311 Community Foundation ComwallAirAmbulance Lrfelite5 Macmillan Cancer Ca Marie Curie cldren'S Hosptce SW Cornw811 Ho$pi¢e Care National Coasatch RNLI Georgia's Voice Oasi$ Centr& Royal Cornwall Hospf(al WILD- Young Parents Chèstnut Appeal Comwall Samaritans Comwall Masonoc Flshlng Chartty Go Beyound Cornwall Music Service Trust SWAmbulance Service Trust CAB l-sighl Emergency donatitsn SSAFA The Atmed Forces Chartiy Just Breath Cornwall 2,000 2,000 500 2,000 2,000 1,000 300 500 1,0(X) 1,000 1,OlJO 1,000 1,000 1,200 1.500 300 1.400 750 300 550 500 500 500 500 500 300 300 1,000 21.01)0 16,300 ChaTitablg donations Ir¢stri¢t•dl 2024 2023 PMS International - Teddies for Lowng Care 5.107 4,873 14-
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activiti¢• Year ended Year end•d 2024 2023 Staff costs Inote 91 Rent and rates Heal and Ilghl Telephone and inlemel Cornpuler costs Hire of equipmènt Buffèt and drinks Independent examinerfs remuneration Portlolio management fee5 Mis¢glaneous tO,663 6,779 4,563 9,571 6,764 4,362 1,756 75 250 75 351 750 3,114 7,450 2,310 7.270 49 35,689 33.W7 Trnstee5 None of the Trustee5 {or any persons connected with them) receivèd any romuneration or benoffts from the Charity during the year. {2023.' £nill. There were no Trustees expen$e$ paid for the year andgd 31 Decambar 202412023.. £nil}. Employ••$ The average monlhty number of emFAoyee$ during the ye8r was.. 2024 Number 2023 Numb•r Total Staff eosts comprisè a recharge from Th8 Provincial Crand Lodge ol Comwall lo cover the costs of the administrator. Th¢Ts w&r8 no employees whose annual remuneralion was more than £60,IX)O. 10 Taxatlon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxalionof Chaigeable Galns Act 1992 to Ihe extent that these are appli8d to its charitable obje¢l$. 15-
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 11 Fixed asset Investments Investments Cash in porttolio Total Ct or v*luation Al 1 January 2024 Additsons Valuation changes txsptssals 745.118 138.905 25.350 (120,9341 34.811 148.294 779,929 287,199 25,350 1293,3251 1172.3911 Al 31 December 2024 788,439 10,714 799.153 Carrying amount At 31 December 2024 788,439 10,714 799,153 At 31 Decembar 2023 745,118 34,811 779,929 2024 2023 Investments at lair valua comprisè= UK Fixèd interast securities UK Equities Overseas Equit and Funds Other Investments Cash 163,131 89,619 318.040 217,649 10,714 167,352 90,250 289,330 198,186 34,811 799,153 779,929 There were no individual investments reptesenlin9 in excess 01 5% of the inve51ment portfvlio al 31 December 2024 or 31 December 2023. 12 Slo¢k$ 2024 2023 Value of goods held for free distribution 1.462 13 Debtorn 2024 2023 Amounts falling due within one year: Prepaym¥nl$ and accru8d in¢om 170 158 16-
CORNWALL MASONIC CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Cr•di¢orn: amounts falling due wlthln one ar 2024 2023 Accruals and deferred income 3,225 2,840 1$ R•strlct•d funds The income funds of the charity include restricted fvnd5 comprising the following unexpended balanrxs of donation$ ar grants hgld on trust for speufic purposes: Movm¢nt in funds IA¢omlng R•tsourc Balancg at •xpond•dl Juary 2024 Movement in funds Incomlng Re•our¢8 rosoure•8 gxponO•d Trnf¥ Balanco 8t 31 Do¢•mbor 2024 PMS Intemational- Teddies fc Lovtng Care 4,877 14,873) 4,319 {5,1071 5,000 4,216 The Trustees agreed lo transfer £5,OC(112023". £nill from Unr•Strici reseThes to enable additional donation$ to this organisation. 16 Unrestrletsd reserves unStrICtèd resèrves comprise £883.02812023'. £872,9751 whKh the trustees are free lo use in accordance with the charit8bl& Objecti$. 17 Analysis of net as8ets belween funds Unr•strleted Restrlcted fvnd$ funds 2024 2024 Total Unrestricted Restricted funds nds 2023 2023 Total 2024 2023 Fund balances 3131 December 2024 are represented by.. Investments Currènt assetsllliabililiesl 799,152 83,876 799,152 88.092 779,929 93,046 779,929 93,050 4.216 883,028 4.216 887,244 872,975 872,979 18 Related party transactions There were no disclosable related party IransaGtions durng the year12023- none). 17-