Chari Commission number.. 1186584 FARADAY fvIASONIC BENÉVOLENT FUND Accounts For the ear ended 31 December 2020 FARADAY MASONIC BENEVOLEF￿ FUND Accounts for the ear ended 31 December 2020 CONTENTS PAGE Trustees, annual report Independent examiner's report Statement of financial acttwties Balance sheet Notes to the accounts 8-11 FARADAY MASONIC BENEVOLENT FUND Trustees, annual re Year ended 31 December 2020 The Trustees present their report for the year ended 31 December 2020. Reference and administrative information Registered name and number.. Faraday Masonic Benevolent Fund Principal address: 4 Chambers Street Grantham Lincolnshire NG318DL 1186584 Trustees.. MrTJ Johnston MrA M Watson Mr P Chandler Mr DJ Pickup Strurture overnance and mana ement The artivities of the charity were transferred to 3 Charitable Incorporated Organisation on the I January 2020. This new entity is also called the Faraday Masonic Benevolent Fund and its registration was accepted by the Charity Commission on 26 November 2019. Its charity number is 1186584. The old charity, nurnbered 1003824. was removed from the Central Register of Charities on 22 February 2020. Trustee selection method.. Each Craft Lodge respectively by re501ution has the power to nominate not more than one of its members to be appointed a trustee of the Benevolent Fund. The nominee is appointed by the continuing Trustees. The charity does not have a share t3Pital. The artivities of the charity and its trading subsidiary, Faraday House Functions Limited. are such that there is no requirement for audit nor to prepare group accounts. An examination is performed as required under the trust deed. Ob-ectives and actNlties In addition to the distribution of its own available monies to charitable cau5e5. the Faraday Masonic Benevolent Fund assumes part of the chaiitable responsibilities of the Benevolent Funds of the five Masonic Lodges meeting at the Masonic Hall, Grantham namely,. Doric, Granta, William Peters, Sir Isaac Newton and Meridian Daylight. including the making of charitable contributions to social and educational local community organisations. old age persons, children's and young persons, clubs and sickness relief organisations. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity'5 aims and objettive5 and in planning future activities Achievements and erformance The Faraday Masonic Benevolent Fund has made charitable donations of £100 during the year under review. Financial review The Trustees aim to retain unrestricted current reserve5 sufficient to cover at least one year's operating costs. Whilst the impact of Covid-lg has had a significant negative effect to revenue in 2020 and will continue to do so in 2021. with the asslstance of government grants and there being available current reserves to meet the chariws obligations as and when they fall due, with the available information we have at the current time there is no reason why the charity should not be considered a going concern. Si nature and Declaration Declaration.. I deelare, in my capacity of charity trustee, that: the Trustees have approved the report above- and have authorised me to sign it on their behalf. Mr TJ Johnston Date: 11,b,ZDLI FARADAY MASONIC BENEVoLEF￿ FUND Inde endent Examlner'5 re rt on the Accounts Year ended 31 December 2020 I report on the accounts of the charty for the year ended 31 December 2020 which are set out on pages 5 to 11. Res ective res onsibilities of Trustees and Examiner The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under section 144121 of the Charitie5 Act 2011 Ithe 2011 Act) and that an independent examination is needed. The charity commission number is 1186584. It is my responsibility to: examine the accounts under section 145 of the 2011 Act.. follow the procedures laid down in the general Directions given by the Charity Commission under section 14515}Ibl of the 2011 Art: and state whether particular matter5 have come to my attention. Basis of Independent Examiner's statement My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in Bn audit and consequently no opinion is given as to whether the account5 present a "true and fair view" and the report is limited to those matters set out in the statement below. As part of my review l also examined the account5 and accounting records of Faraday House Funrtions Limited. Independent Examiner's statement In connection with my examination. no matter has come to my attention: which gives me reasonable cause to believe that, in any material respect, the requirements.. to keep accounting records in accordance with section 130 of the 2011 Act- and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Att. have not been met,. or 121 to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Rupert Klng FCA Rupert King & Company Limited 31 Westgate Grantham NG316LX Date- FARADAY MASONIC 8ENEVOLENTFUND Statement of Finanaal Artivitte As at 31 December 2020 Contribution from Bar 2020 2019 Note Sale5 less: Purchases Wages 4,911 12.7071 14,013 19,2301 12391 2.204 4,544 Contribution from Caterin Sales Less.. Purchases Wage5 11.414 15,5641 13,8781 40.028 114.5911 15,7821 1,972 19,655 Other incomin Subscriptions from Lodges Faraday House Fun ctions Limitèd- Gift Aid Room and facilities hire 200 Club Interest received Grant5 Received resources 14,717 32 900 835 173 15.747 2,897 5,700 985 105 21,405 38.062 25,434 Total Incoming Resources 42,238 49,633 Resources ex ended Stewards wage5 StÈW3rd% pension Rates Water Insurance Equipment maintenance Repairs Gas and electricity Cleaning materials Whste disposal Licence5 Telephone and computer char8e5 Payro11 support Mileage Name boards updates 23,115 320 1,523 1,224 2,591 782 25.077 347 2,491 2,078 2,482 739 4,508 6,370 197 2,071 824 405 954 103 loo 1,357 3.482 252 449 380 242 1.580 46 iio 137,4531 148,7461 Surplu5 c/f 4,785 887 FARADAY MASONIC BENEVOLENT FUNO Statement of Flnancial Artivitie5 Year endèd 31 December 2020 2020 2019 Note Svrplu5 blf 4.785 887 Governance costs and Donations Merchant card charges Printing stationery and advert15ing Independent examination Honorarium Donations 93 153 780 439 560 600 2.000 100 11.7261 13.6011 Net Surplus/lDeficitl before Depreciation 3,059 12,7141 Depreciation- furniture and equipment 11,9841 12,3361 Charity CIO ctsnversion professional fees Repairs re Tardis removal etc. Boiler replacement in flat 649 2,400 1,952 4,178 {6491 426 18,5301 113,5801 Net incominglloutgoingl resources Total Fund5 Brought Forward Total Funds Carried Forward 486,646 487,072 500,226 486,646 FARADAY MASONIC BENEVOLENT FUND Balance Sheet As at 31 December 2020 2020 2019 Note Fixed assets Property Furniture and equipment 421,602 421.602 11.248 432.850 13,232 434,834 Current assets Stock Debtors and prepayments Deposit account Current account Card bearing account Premium account SumUpAccDunt Cash in hand 200 Club account 1.874 2.014 35.516 11.563 468 3.286 3,254 6.627 36,094 2,994 2,000 3,284 17 427 1,045 400 1.740 56,861 55,742 Current liabilities Creditors Creditors and accruals Pension PAYE & National Instsrance FHF loan 2.476 56 3,857 73 48 2,639 3.930 Net current assets 54,222 51,812 Net assets 487,072 486,646 Re resented b General Unrestricted Fund 482,804 483,363 Restricted Fabric Fund 4,268 3.283 487,072 486,646 The t7ccounts were ¢ypproved by the Trustees on 19 May2021 urtd signed yMrTJ nsto FARAOAY MASONIC BENEVOLENT FUND Notes tothe accounts Year ended 31 December 2020 Accountin olicles Basis of accountin The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffertive l January 20151,, Financial Reporting Standard 102 he Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Intomin resources Donations, legacies and similar incoming resources are included in the statement of financial activities ISOFAI when- the charity becomes entitled to the donation. legacy or similar income and anv conditions for receipt are met: the Trustees are reasonably certain they will receive it- and the Trustees are reasonably certain that the value can be reliably measured. Tax reclaims on donations and gifts Incoming resources from tax claims are included on the SOFA at the same time as the gift to which they relate. Incoming resources from fundraising These are reported gross in the SOFA. Investment Income This 15 included in the accounts when receivable. enditure and liabilities Generally liabilities are recognised as soon as there is a legal or constructive obligation committingthe charityto the expenditure. Assets Tangible fixed assets for use by the charity These are 8enerally capitalised if they can be used for more than one year, and c05t at least £500. They are valued at tost or a reasonable value on receipt. Fixtures and furniture are depreciated at 15% on the reducing balan￿ basis. Computer equipment is depreciated at 33% on a straight line basi5. Stocks Stocks are valued at the lower of cost and net realisable value. Funds General Unrestrirted Fund This fund can be used in accordance with the aims of the charity at the discretion of the Trustees. Restrirted Fabrit Furbd There 15 a restricted fund. created for the upkeep of the fabric of the building, entitled the Fabric Fund. and must be spent accordingly. as authorised by the Trustees. io FARADAY MASONIC BENEVOLENT FUND Balance Sheet As at 31 December 2020 Fees for examinin Accounts 2020 2019 Independent Examiner'5 fees for reporting on the Accounts £780 £560 Pald em ees 2020 2019 Bar Catering Stewards 239 5,782 25.077 3.878 23,115 £26.993 £31,098 Average number of full time employees in year The employees were employed in property maintenance and the Masonic Club. Trustees, remuneratioft and ex enses There was no ￿M￿neratIOn or expenses paid to Tnjstees in this or the previous period. Fabric Fund In the year the 200 Club 5urplu5 for 2019 was transferred from the General Unrestricted Fund to the Restricted Fabric Fund. which transfer was approved at the AGM in 2020. General Unrestrirted Fund Restrirted Fabric Fund Balance at l January 2020 483,363 3.283 200 Club 2019 surplus 19851 985 2020 surplus 426 8alance at 31 December 2020 482,804 4,268 A proposal will be put to the Annual General Meeting to transfer the ZOO clyb surplus of £835 to the Restritted Fabric Fund. li ARADAY MASONIC BENEVOLENT FUNO Balante Sheer As at 11 tse￿mber 2020 Flxed 8s5ets Freehold fixlures and Furnrture uter Total Co 8atsnce at l January 2020 42L602 104.076 960 526.638 Additions Balance at 31 December2020 421.602 104,076 960 526,638 oatlon Balance at l January 2010 Charge for the year 960 91,804 1,984 Balance at 31 De￿rnber 2020 92.828 960 93,788 Net b kvalue 8alance at 31 December2020 42L602 11.Z48 432,850 8alanee at 31 Decernber2019 421.602 13.232 434,834 Debtors an ents 2019 Prepayments Other debtor5 Faraday House Fullction5 ￿rntted 935 1,310 620 4.697 1.079 2,014 6.627 Credrt and accvuals 2020 019 Trade credTiors Acerua15 pen$￿A PAYE & National Insuran Fardday House Funttions Limited 301 2,175 56 60 2.002 1,855 2.639 3,857