THE ZETLAND AND HONG KONG LODGE No. 7665 CAPITAL ENDOWMENT FUND
TRUSTEES' REPORT FOR THE YEAR ENDING 31st OCTOBER, 2022
With the pandemic being at last over, The Zetland and Hong Kong Lodge No. 7665 Capital Endowment Fund was able to continue its fund raising and held an event in Hong Kong for its Hong Kong resident members. This bore fruit with one large donation and several smaller ones. As a result the Fund’s total income for the year was £7,978.65 and its net worth increased to £45,732.97 from £38,055.92.
As reported last year, the Charity has decided that it will only distribute income, and not capital, and with income from its funds being nominal it was once again not in a position to make a meaningful donation this year. It made just one donation of £250 and that was to a small charity, UP 'N Away, where a donation of such a size was appreciated. Up 'N Away is a London based charity, which supports young people, mainly in the Borough of Haringey.
During the year the Fund invested some of its capital into M & G Charifund, in order to increase its income and in the hope of some capital appreciation. The Trustees are still well aware that the original target of reaching a capital base of £50,000 has not yet been reached, but it hopes to make further progress in the coming year during which it will have benefited from the recent rise in interest rates.
28[th] April, 2023
VICTOR I. FALK Secretary
CAPITALENDO |
WMENTFUND | WMENTFUND | WMENTFUND | WMENTFUND | WMENTFUND |
|---|---|---|---|---|---|
| IncomeandExpenditure Accountfor | theyearending 31stOctober.2022 | ||||
| 2022 | 2021 | ||||
| lncome | |||||
| Single Donations | -- | 5;5O0:OO | ' | q85O | |
| Monthly Donations | 660.00 | 660 | |||
| DonationfromAmazonSmile | 5.00 | 5 | |||
| HMRCTaxRefunds | 1,387.50 | 1,551 | |||
| Banklnterestat HSBC | 7.00 | 1 | |||
| M&GCharifundDividend | 190.27 | ||||
| Banklnterestat Redwood BankLtd. | 228.88 | 225 | |||
| TOTAL INCOME | f | 7,978.65 | 8.292 | ||
| Expenditure | |||||
| Bank Charges | 51.60 | ||||
| DonationtoUp'NAway | t | .250.00 | 150 | ||
| SURPLUSONYEAR | E7,677.05 | t.9.142 | |||
| Represented by:- BalanceatHSBCasat1.11.2021(2020) |
t | 17,378.43 | E | 9,461 |
|
| BalanceatRedwood Bank.1.11.2021(2020) | 20,677.49 | 20,453 | |||
| Surplus on year | 7.677.05 | 8.142 | |||
| TOTALASSETS | f45.732.97 | f | 39,056 | ||
| HSBCCurrentAccount31.10.2021(2020) | t | 1,927.17 |
5,196 | ||
| HSBC BusinessMgt.A/C 31.10.2021(2020) | 7,899.43 | 12,182 | |||
| DepositAccountatRedwood BankLtd. | 20,906.37 | 20,678. | |||
| lnvestment: M&GCHARIFUND | 15.000.00 | ||||
| TOTALASSETS | t45.732.97 | f | 38,056 |