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2021-06-30-accounts

REGISTERED CHARITY NUMBER: 1189680

Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2021 for The Sussex Mark Benevolent Fund, CIO

The Sussex Mark Benevolent Fund, CIO

Contents of the Annual Report and Financial Statements for the Year Ended 30 June 2021

Page
Report of the Trustees 1 – 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6
Notes to the Financial Statements 7 – 9

The Sussex Mark Benevolent Fund, CIO

Report of the Trustees for the Year Ended 30 June 2021

The Trustees present their report with the financial statements of the Charity for the year ended 30 June 2021. The Trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the Trust are "For the benefit of such distressed brother Mark Master Masons of the Province of Sussex, their widows, children and dependents or for the benefit of such other Masonic charities or other charitable institutions, societies or organisations as the Trustees shall decide."

Significant activities

The Trustees take this opportunity to thank Almoners and Charity Stewards in every Lodge for the work they do in looking after us and to the Sussex Brethren for their continuing support and generosity.

The Trustees of the Fund met on two occasions via Zoom during the year and were pleased to approve grants to worthy causes in and outside the Province totalling £11,500. This consisted of the following:

During the year the Trustees were also pleased to approve donations totalling £6,000. Half of this amount was raised by the Rainbow Request initiative and subsequently Match-Funded by Province. The donations consisted of the following:

During the year the Trustees were very pleased approved a grant of £1,039 to aid a member’s assistance with a utility bill, £11,107 to Montefiore House to pay for a member’s wife’s urgent hip operation, £102 towards a member’s boiler repairs.

Public benefit

The Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a Charity (PB2)'. The Trustees conclude that, since The Sussex Mark Benevolent Fund exists to support the Freemason community and their families, they feel the Charity can demonstrate each of the principles outlined in the Charity Commission's guidance on Charities and Public Benefit are being met.

Grant making

The policy of the Sussex Mark Benevolent is to quickly provide grants in relief of need for Mark Masons and their dependents and from time to time to make substantial grants to worthy causes likely to benefit Mark Masons and so far as funds permit to make similar grants to non-Masons. Therefore, the Trustees, where necessary, use digital communications to enable timely and prompt decisions.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

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The Sussex Mark Benevolent Fund, CIO

The Trustees express their thanks to all the brethren for their support towards the 2021 Mark Benevolent Fund Festival by the purchase of £1,000 of Festival Badges.

The Trustees express their, thanks to all the brethren and Lodges of the PGL of MMM of Sussex for their continued support of the SMBF, the Mark Benevolent Fund (MBF) and the Masonic Charitable Foundation (MCF). Donations via the MCF, through the Relief Chest Scheme can, for UK taxpayers who have signed a valid Gift Aid Declaration increase their contribution by a reclaim from HMRC. During 2020/21 £2,058 was reclaimed from HMRC and is included within “Donations and legacies” in the financial statements.

The Trustees are pleased to report approval of Grants totalling £11,500, Donations totalling £8,200 and Aid to member’s dependent of £12,248.

Internal and external factors

The day-to-day management of the Sussex Mark Benevolent Fund's assets is by the Trustees, taking such advice from time to time as they consider necessary. The general powers of investment are incorporated in the Charity’s Governing Document.

The Sussex Mark Benevolent Fund is supported by contributions from Brethren, Ladies, Lodges and Provinces and these may take the form of either; donations, covenants, legacies or bequests. The Charity has not engaged with third parties to raise funds and there has been no direct approach to members of the public for funding.

FINANCIAL REVIEW

Financial position

During the year, income to the Trust from donations, grants and legacies, investments and other sources totalled £21,474 (2020 - £21,829).

The value of the net assets as at 30th June 2021 is £101,549 (2020 - £110,823).

Reserves policy

The Trustees' policy is to ensure that sufficient funds are held to enable the Trust to properly discharge the financial obligations created by its activities. The Trustees aim to hold a minimum of £25,000 in reserves to cover at least three months of expenditure.

Going concern

The Trustees are satisfied that the Charity is a going concern in the year to 30 June 2021.

FUTURE PLANS

The Trustees are anxious to improve the visibility of Sussex Mark Benevolent Fund amongst the Mark masons of Sussex. The 2019 Festival, which was an enormous success, was followed by meetings being abandoned due to Covid 19. There is a need to reinvigorate the distinguishing characteristic of a freemason heart, Charity and the Trustees will be taking steps to encourage greater giving amongst Mark masons and Mark lodges.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is controlled by its governing document which follows the template.

Charity constitution

The Sussex Mark Benevolent Fund, CIO was registered with the Charity Commission on 27[th] May 2020. The Charity was formed by its predecessor charity Sussex Mark Benevolent Fund Reg No 1090369 (SMBF) which appointed the first Trustees and set out their powers and responsibilities as well as the power of appointment and removal of Trustees. This new charitable trust was formed to take over the assets and liabilities of the former Charity.

Recruitment and appointment of new Trustees

No formal procedures exist for the induction and training of Trustees. The Trustees are of the opinion that no such

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The Sussex Mark Benevolent Fund, CIO

policies are required for a trust of this size and complexity.

Organisational structure

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act. Under Charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its net incoming/outgoing resources for that period.

In preparing those financial statements the Trustees are required to: ‘select suitable accounting policies and then apply them consistently;’ ‘observe the methods and principles in the Charities SORP;’ ‘make judgments and estimates that are reasonable and prudent.’

The Trustees are also responsible for safeguarding the assets and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Risk management

The Trustees have given consideration to the major risks to which the Charity is exposed, including the on-going impact of Covid 19, and have considered systems designed to mitigate these risks in particular regular Trustees meetings with a careful review of the Trusts funding and available resources to ensure sufficient monies are held for the Charity’s ongoing costs and general commitments.

Trustees

As of 30th June 2021 no changes since 1[st] July 2020

C M Wilson (Chairman) N H Potter M G Dent M J Marchant A C Hobden R F Richardson C J Farrow D B Dumigan I M H Bennett

Independent examiner’s:

R L Thompson M J Sayer Jasmine Cottage 36 Ashley Court Highlands Avenue Grand Avenue Ridgewood Hove Uckfield East Sussex East Sussex BN3 2NN TN22 5TD

Approved by order of the board of Trustees on ............................................. and signed on its behalf by:

............................................................... C M Wilson - Chairman and Trustee

...............................................................

C J Farrow - Trustee

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The Sussex Mark Benevolent Fund, CIO

Independent examiners report to the Trustees of The Sussex Mark Benevolent Fund, CIO

We report to the Charity Trustees on our examination of the accounts of The Sussex Mark Benevolent Fund, CIO for the year ended 30[th] June 2021.

Responsibilities and basis of report

As the Charity Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

We report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination we have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

We have completed our examination and confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in 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.

We 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.

R L Thompson Jasmine Cottage Highlands Avenue Ridgewood Uckfield East Sussex TN22 5TD

M J Sayer 36 Ashley Court Grand Avenue Hove East Sussex BN3 2NN

Date: .............................................

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The Sussex Mark Benevolent Fund, CIO

Statement of Financial Activities

for the Year Ended 30th June 2021

Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacies
Charitable activities
Bonus Ball
Inkjet Recycling
Other trading activities
2
Investment income
3
Total Income and endowments
EXPENDITURE ON
Raising Funds
Management and administration
Merchandise
Sub-total Raising funds
Charitable activities
2021 East Lancashire Festival
2020 Kent Festival
Mark Benevolent Fund
Bonus Ball
Quilt Prize Draw
Grants and donations
8
Matched Funding
Sub-total Charitable activities
Total Expenditure
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 30.6.21
Unrestricted
fund
Restricted
fund
Total
funds
£
£
£
18,657
2,441
21,098
20
20
341
341
15
15
19,033
2,441
21,474
0
0
0
1,000
1,000
29,748
29,748
30,748
0
30,748
30,748
0
30.748
(11,715)
2,441
(9,274)
109,910
913
110,823
98,195
3,354
101,549		 30.6.20
Total
funds
£
19,331
505
159
1,404
430
21,829
600
1,000
1,600
-
1,000
3,543
-
-
22,114
1,100
27,757
29,357
(7,528)
118,351
110,823

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The Sussex Mark Benevolent Fund, CIO

Statement of Financial Position

at 30th June 2021

CURRENT ASSETS
Debtors
5
Cash at bank
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
Restricted
fund
£
£
27,522
70,673
3,354		 30.6.21
Total funds
£
27,522
74,027
101,549
101,549
0
101,549
98,195
3,354
101,549		 30.6.20
Total funds
£
16,896
96,727
98,195
3,354		 113,623
(2,800)
98,195
3,354
0
0		 110,823
110,823
98,195
3,354		 110,823
109,910
913
110,823

The financial statements were approved by the Board of Trustees on .................................................and were signed on its behalf by:

............................................................

C M Wilson - Chairman and Trustee

............................................................ C J Farrow -Trustee

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The Sussex Mark Benevolent Fund, CIO

Detailed Statement of Financial Activities for the Year Ended 30 June 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The 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.

Income

All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Taxation

The Charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's Statement of Financial Position when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

7

The Sussex Mark Benevolent Fund, CIO

Detailed Statement of Financial Activities

for the Year Ended 30 June 2021

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Comparative figures

In accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities, the unaudited Statement of Financial Activities includes comparative figures for the preceding year to 30[th] June 2020 of the former Charity, Sussex Mark Benevolent Fund (Charity Reg No. 1090369) and are included where, in the opinion of the Trustees, it is appropriate to do so.

Movement in Funds

The Trustees have adhered to the requirement to provide information on material individual fund balances, movements in the reporting period and the purposes for which the funds as detailed in the Statement of Financial Activities.

Employees

The Sussex Mark Benevolent Fund employed no staff during the financial year ending 30.06.21 (30.06.20 – nil).

2. OTHER TRADING ACTIVITIES

3.

30.06.21 30.06.20
£ £
Merchandise 341 1,404
Recruitment initiative -
341 1,404
INVESTMENT INCOME
30.06.21 30.06.20
£ £
Interest received 15 ~~430~~

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no Trustees' remuneration or other benefits for the year ended 30[th] June 2021 nor for the year ended 30[th] June 2020.

Trustees' expenses

There were no Trustees' expenses paid for the year ended 30th June 2021 nor for the year ended 30[th] June 2020.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6.

30.06.21 30.06.20
£ £
Other debtors (Relief Chest) 27,522 16,896
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.06.21 30.06.20
£ £
Grant and donation provision and accrued expenses 0 2,800

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30[th] June 2021.

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The Sussex Mark Benevolent Fund, CIO

Detailed Statement of Financial Activities for the Year Ended 30 June 2021

8. GRANTS AND DONATIONS

During the year Trustees approved Grants and donations amounting to £29,748 (2020 £22,114) being grants to institutions of £11,500 (2020 £9,884) donations of £6,000 (2020 £5,350) and grants to individuals of £12,248 (2020 £6,880).

To Institutions
Grants
St. Peter & St. James Hospice
St. Wilfrid's Hospice
Hospice in the Weald
St. John Ambulance
Just4Children
Songwriting Charity
Newick CE Primary School
Children Today
Sussex Community Development Association
Crawley Open House
Sussex Community Search Team
Cranleigh Riding for Disabled
sub-total grants
Donations
Chestnut Tree House Children’s Hospice
Demelza House Children’s Hospice
Shelter Cymru
Rainbow Appeal
East Lancashire MBF Festival
sub-total donations
Total to Institutions
To Individuals
Aid to a member(s)
Restricted grants to members via MBF
Total to individuals
Total Grants and Donations		 30.06.21
Unrestricted
Restricted
Total
£
£
£
500
500
500
500
500
500
10,000
10,000
11,500
-
11,500
3,000
3,000
3,000
3,000		 30.06.20
Total
£
1,500
1,000
976
1,787
946
1,666
1,009
1,000
9,884
250
1,100
4,000
6,000
6,000		 5,350
17,500
- 17,500
12,248
12,248
12,248
12,248
29,748
0
29,748		 15,234
500
6,380
6,880
22,114

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