THE WISBECH MASONIC BENEVOLENT FUND CHARITY COMMISSION REGISTERED NO. 1199199 FINANCIAL STATEMENTS AND ANNUAL REPORT for the year ended 31 December 2024
THE WISBECH MASONIC BENEVOLENT FUND Coi)tents Page for the year ended 31 December 2024 INDEX Legal and Administrative Infom)ation Trustees, Annual Report 2to4 Indepgndent Examinerfs Report ststement of Financial Activiti¢8 Balance Sheet Notes to the Financial Statements 81013
THE WISBECH MASONIC BENEVOLENT FUND CHARITY INFORMATION Registsrod Add9 The Wisbech Masonie Centre The Cr8SC8nt Wisbech PE13 1EH orrespondence Addre88 P Waller Conkers Fen Road Newton in the Isle Wisbech Camb8. PE13 5HT Trustees M J Humphrey P Waller D K M Coupland J R C Pallant A J Faulkner D Broker G P Akjrich S Button Chair Tr&asurèr BKett R Cawston Appointed 27 June 2024 Appointed 27 June 2024 J E Breeze J P T Jewson Retired 27 June 2024 Reb"red 27 June 2024 Ex Officio Offle•r A M Clifton Secretary Indepgndont Examlngr KJ. Maggs B.A., F.C.A. Chartered Accountant, Spalding, Lincs., PE113HE. 8anker8 National Westminster Bank PIC Bede House 11 Westem Boulevard Le>ster LE2 7EJ Investm•nt managers CCLA Fund Managers Limited One Angel Lane Lonoon EC4R 3AB Page 1
THE WISBECH MASONIC BENEVOLENT FUND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees present their report wtth the financial statements of the charity for the year ended 31 Dernber 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Ac¢ounb"ng and RepDrts"ng by Charf(ies° in preparing the annual report and financial statements of the charty. StrUCra. govgrnanc• and management Governing document The Wisbech Masonic Benevolent Fund was constituted by Trust Deed dated 14 November 1983, which registered as a Charity on 24 October 1984 (Registered Charity Number 290352), before convertin9 to a Charitsble Incorporated Organisalion ICIO) on 7 June 2022 {Regi51ered Charity Number 11991991. ObJgctive$ and Activltle¥ The charitable objects of The Wfisbech Masonic Benevolent FL¢nd are to provide, both directly and indirectty. relief of such poor and distressed Masons or their poor and distressed widows and children, or to, or for the benefit of such Masonic charities or other charitable inslilut10ns, societies and objects they shall decide. .t corstinuo8 to bè to seek additiongl financè and support from local Tliw poliGy of the Gharltable tru- masons lo further ils charitable objects. They aim to maintain and improve the property owned and used as Masonic meeting places, thereby enabling local freemasons to exercise the twin virtues of benevvl¥i)ce and charsty through their donati¥nG to the Mgsonic CharitahlA Foundation. the Cambridgeshire Masonic Benevolent Association, individual Lodge Almoners and local Charitable and worthy causes. Each year the trustees review the charty's obj'ects and activities to ensure that they continu¢ to reflect ils aims. In carying out this review. the trustees have nSidered the Charity Commission's guidance on public benefit. Trustees The trustees narned on page 1 served durtng the year. Appointsnent of trustees is governed by the Trust Deed of the charity. The Charity has a trustee board of 10 elected members, plus one or more ex offi¢io officers. Investment powers The Trust Deed authori8es the trustees lo make and hold investmentg. bul no such investments are presently held. Publlc Ben•fit, achiovements durlng the yaar and future developments The trustees have given due regard lo the guidance published by the Charity cgmmi68ion on pijblic benefit, with the charity's objectives of the provision, both directly and indirectly, relief of such poor and distressed Masons or their poor and distres5e(I widows and children or to, or for the benefit of such Masonic charitiès or olhgr charitable institutions, societies and objects as they shall decide. The truslees consider thal the performance of the charity this year has boen satisfactory and all objects have been mel. As approvad by the members, the trustees have continued to pursue the opportunity to safeguard the future of Freemasoiiiy iii Wisbe¢h throu9h thc lon9.teTm leas• on the fomie.r Wi*bech Courthouse Building. Good progress has been made in establishing an acceptable leas8 and understanding the cost of adapting the building lo our needs. Poge 2
THE WISBECH MASONIC BENEVOLENT FUND TRUSTEES REPORT {continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Finan¢ial Rovlew The ttS for the charity for the flnancial year are detailed on pages 6 to 12. Inrne revenue is provided by.. lal Contributions from the Lodges who use the facilities., Ib} The Profrt from the Members Only bar, Ic} Fundrai8ing by a Sub-committee., Id) Masonic donations,. {01 Masonic grants, and io Interest earned on the Charity's cash deposits. Overall, total reserves hav8 increa88d from £207,502 last year to £223,601 this year. The Adminislralion Fund has a closing balance of £41,324. This represents an increase from the previous year of £9,553 and ensures that the Fund remains sufficient to fu11 the ongoing objects of the Charity in line wrth the Trustees Reserves Policy. The Special Repairs Fund now stands at £152,565, having inereased in the yoar ty £8.244 due to benefieial interest rates and specific member contributions. Advancèd co8tE incurred during 2024, sn pur¥uit of the Courthou$¢ lease oiiangeTnent total £11,948. These cover Legal F8&s £9,990, Structural Calculations £1,140, and a Change of Use applicab'on £818. During 2n?4 e.harlt2bla donations of £3,520 wgre made to th¢ Arthur Rank Hospic¢ Charity £2,700, and the Alan Hudson Trealrnent £820. The Joint Lodge Social Committee IJLSCI fund raising actThiilies raisÈd f.2 n68 in 2024_ The Iruslees consider that the funds available are suflicient lo pemrt the Trust lo continue in the long tem, given the continued support of the local Masonic lodges and brethren. The kvel of reserve in the Administrotion Fund ond the opwal Repairs FuiiLI will wrrtlnue io be reviewed on a regular basis In line with the Trustees ReseNes Policy. R88erv 11 is the policy of the ch8rity lo maintsin the Administslion Fund at a level, which eqLFates to at least 12 months 'Operating Costs, and to increase the amount held in the Special Repairs and Development Fund vn a regular basls to proviae sufficient funds for subslanlk41 items of repair and lo contribute to the remodelling or replament of ils Grade 2 listgd propety within the next ten lo frfleen years. Al 31 December 2024, the Administration Fund is showing a surplus £20,594, refleding the inclusion of pre payments in respect of propety on the balance sheet of £11,948. Additionalty, fijnd raising by the JLSC in 2024 of £2,068 18 yet to be dispensed to charities. The other fvnds shoLsld be in surplus as they ar8 accruing to establish the level of work which can be done, or which developments can be undertaken. RFsk managemont The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and erTOr. The trustees have conducted a revi8w of the major risks to which the charty is exposed and. where appropriate, systems or procedures have been established to miligale those risks. Internal control risks a minimised by the implemenlalion of procedures for authorisation of all transactions and projects. Procedures are in pla to assure complFan¢o wrth Health and Safety regulations in respect of members, visitors and all third parties. Pag8 3
THE MSBEGH MA80NIC BENEVOLENT FUND TRUSTEES REPORT Icontlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Responslblllties Th6 trustee5 are rèsponsible for preparing the trustees, annual report and the finan¢ial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pradicel. Charity law requires the trustees to prepare financial ststements for each financial year, which gNe a true and fair view of the slate of affairs of the Charty and of the incoming resources and applicalion of resources. including the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to.. selt SL¢itable accounting policies and then apply them consistenuy., Observe the methods and princlples in the Ch8rilies SORP., Make iudg8m8nts and estimates that are reasonable and prudent., Slate whether applicable accounting standards and slalements of wommended practice have been followed, subject to any departures disclosed and explained in the financial stslements; Prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charity will continue in operation. The tnjstees are responsible for keeping proper accounting records that disdose with Teasonable accuracy at any lime the financial posits'on of the charitable company and enable them to ensure that the financial stataments comply with thÈ charib.es Act 2011. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable Steps for the prevention 8nd detection of fraud and other irregularities. Going con¢•rn The trustees believe that the Charty Is a going concem and do nol for&%e aiiy pos$ible hinderanco trj this ststus currenlty. Approval This report has been prepared in accordance with the requirements of the Charities Act 2011 {'the Act'l and has been approved by the trustees on 10 April 2025 and signed on their behalf. J Humphrey Chair P Walter Treasurgr Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE THE WISBECH MASONIC BENEVOLENT FUND I report lo the trustees on Jny examination of the accounls of the Charity for the year ended 31 December 2024, which are set out on pages 6 to 13. Responsibilities and basls of rnport As the charivs Iruslees you are responsible for the prepsratlon of th8 accounts in accordance with the requirements of the Chanlies Act 2011 I'lhe Act'l. I report in respect of my examination of the charitys accounts carrd oul under section 145 of the Act and in Carng out my examination I have followed all the applicable Directions given by the Charty Commission under sects'on 145{5}Ibl of the Act. Ind•pondent examinevs statement I have completed my examination. I confirm that no material matters have come lo my attention in connaclion with the examination giving me cause to beIve that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act", or 2. the accounts do not ¥wrd with those r9cords'. or 3. the accounts do not comply with the appluble requirements concerning the form and conlenl of accounts set out in the Charities (Accounts ané Reports} Regulations 2008 other than any requirement that the accounts gwe a 'true and fair view, which is not a rnatter considered as part of an independent examination. I hav$ no concerns and have come across no other matters in connection with the examination lo which allenlion should be drawn in this report in order to enable a prokEr understandinq of the accounts to be reached. KJ. Maggs B.A., Chartor8d Accountant 2025. Spalding
THE WISBECH MASONIC BENEVOLENT FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 CÉpltal fund Admln fund Special Repairs fund Unr98trlGtsd Unrestricted INCOME AND ENDOWMENTS FROM: Donations and legacle8 General donations 3,520 850 4.370 5,526 Charitsble a¢tivitio8 Contributions Social Adivrties 12.770 2.068 12,770 2.068 12,770 2,923 Trading actlvltigs Bar sales Hire of Hall 11,825 100 11,825 100 10,999 Investmènt income Bank interest 7,394 7.394 5.524 TOTAL INCOME 30,283 8.244 EXPENDITURE ON: Charitable actlvities Donations 3,520 3,520 8.176 Trading a¢tivitie$ Bar purchases Supptsrt costs Premises and equipment Administrative expenses Governanco Costs Independent examinat Legal and professional fees 4,948 4,948 5,042 1,698 11,509 101 13,207 101 1 5,050 2,109 400 252 400 252 TOTAL EXPENDITURE NET IEXPENDITUREI I INCOME (1.698) 9.553 16,099 6,965 Fund balan¢es as at: 1 January 2024 31 December 2024 31,410 29,712 31,771 41,324 144,321 152,565 207,502 223,601 200,537 207,502 The notes on pages 8 to 13 form p8rt ofthese accounts Paga 6
THE WISBECFI MASONIC BENEVOLENT FUND BALANCE 8HEET AT 31 DECEMBER 2024 2024 2023 FtXED ASSETS 10 29,712 29,712 31,410 31,410 CURRENT ASSETS Bar st¢)ck Debtors Prepsymenls and accrued income Prepayments in respect of propety Cash at bank Cash in hand 1,860 1.576 1,505 11,948 188,973 251 204,537 1,362 11 11 174,419 645 178,002 CREDITORS= Amounts falling due within ong year 12 10,648 1,910 NEf CURRENT ASSETS TOTAL ASSETS LESS LIABILITIES 193,889 L93,801 176,092 207,502 FUND8 Unrestricted.. Capital fund Admin fund sp.181 Répairs fund 13 29.712 41,324 152,5S5 31,410 31,771 144,321 223,601 223.601 207,502 207,502 The financial statements were appioved by the Truslges on 10 Aprll 2025 and signed on their behalf by.. J Hurnphrey Chair P Waltar Treasurer Th6 notes on pages 8 to 13 fom part of thes8 accounts Page 7
THE WISBECH MASONIC BENEVOLENT FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accounting Policles The significant aecounling poIleS applied in the preparation of the8e financial statwments are 88t out below. Thes8 policies have been consislentty applied to all years presented unless otherwise stated. (al Basls of preparatlon of financial ststoment5 The charity constslutes a public benefit ents'ty as defined by FRS 102. The fin8ncial ststements have baen prepared in accordan¢è with Accounting and Reporting by charities." Slalement of Recommended Practt'ce applicable to char((ies preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the FinanGial Reporting Standard applicable in the United Kingdom and Republ of Ireland IFRS 102), the Charities Act 2011 and UK Generally Aecepled Accounting PracliGe. The financial sktements are prepared on a going concem basis under the historical cost convention, modrfied to include certain ilems at fair value. The financial statements are presented in sterling which is the functional currency of the Charity. (b) Funds Unrestricted funds are availabte for use at the discretion of the Trustee$ In furtherance of the general objeth'ves of the Charity and which have not been designated for other purposes. Donations receivable are allocated on the basis of the donors, wishes. If a purpose is specified then il is a restfiaed ftjnd for that puiy(i¥¥. If a SP¢GifiG purpox 13 determined by the Trustee¥ a Dosi9nated fund will be used. IG) liicomg reGognltlon All incoming resources are induded in the Statement of Financial Activities ISOFA) when the Charity is legglty f*ntitled to the income after any perfomants condits'ons have been met, the amount can be measured reliably and it is probable that the income will be recewed. Income from trading actiwtl8s includes income earned from fundraising events and trading activities lo raise funds for the charity. Income is received in exchange for supplying goods and services In order to raise funds and is recognised vthen entitlement has Occued. Investment income is recognised in the accounts when the amount can be measured reliably and the Charivs nght to receive pawmenl is e$tsblished. No amount is inclLsded in the financial statements for voluntser time in line with the SORP (FRS 102). (dl Expgndituro recognitlon Expenditure is accounted for gross on an accruals basis and has t)een classrfied under headings that aggregate all costs relaled lo the category. Charitable ath'vities expenditure include all resources applied by the Charity in undertaking its charitsble objects'ves as opposed to support costs. Support costs are those that assist the work of the Charity but do nol directly represent charitable activrfies and include office costs and govemance ¢osts. Fund-raising costs are those incurred in seeking voluntary conlribulKJns and do not include the costs of disseminating infom)ation in support of the charitable activities. {el D8btorn and creditor3 r•celvablolpayablo wilhln ono y•ar Debtors and credrtors with no stated interest fate and receivable or payable wlihin one year are recordèd al tr8n5action price. Any Ioss8s arising from impairment are recognised in expenditure. P8ge 8
THE WISBECH MASONIC BENEVOLENT FUND NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 l. Accounting Policigs {continued} (fj Tangiblg flxed assets Tangible fixed assets are staled at cost or valuation less accumulated depreckgtion and accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the eost, less estimated residual valuts. of each asset on a systematic basis over its expected useful life as follows. Freehold property 50 years straight line Fixtures, fittings and equipment 10 years straight line Freehokl land 18 not depreciated. (g) Stock Stocks are staled al the lower of cost and nel realisable value. Provision made for damaged. obsolete and slow-moving slook where appropriate. {h) Golng Con¢em The financial ststements have been prepared on a going conrn basis as the Trustees believe that no material uncertainties exist. The Trustees have Considered the level of funds held and the •xpect•d lgvel of in¢ome and expenditure for 12 monllii¥ fivin aulhonslng inese financial slalements. whh is suffieienl wrth the level of reserves of the Charity to be able to continue as a going concem. l) Taxation Value Added Tax is not recoverable by the charity, and as such is included in tha rg>lwant costs in thg statement of Financial Acts'vities. The charity is an exempt charty wrthin the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitable ccmpany for UK corporation tax purposes. J} Liquid investments Cash at bank ineludes short term investments which are highly liquid investmen15 and are effectivety cash, i.e. they include cash on depo811 and ¢ash equivalents wrth a maturity of Joss than one year. 2. Truste98 Romunoratlon. Expenw and Control There were no remuneration or expènses paid lo any of the Trustees during the year12023- £nill. The Charity is controlled by the Trustees as a body. No individual Trustee has control over the Charty. 3. Related Party Tran8action8 There are no related party Iransacts'ons during the year12023- £nil). Page 9
THE WISBECH MASONIC BENEVOLENT FUND NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 4. Contrlbutlon$ 2024 Unrestrided 2023 Unrestricted Lodge No 809 Lodge No 6125 Lodge of Inslructs'on No 809 Lodge of Instruction No 6125 Chapter Mark Rose Croix Royal Ar¢ Mariners 4,800 4,8DO 145 145 720 720 720 720 4,800 4,800 145 145 720 720 720 720 5. Bar account 2024 Unrestricted 2023 Unrestricled Sales 11,825 10,999 Cg•t of sal¢s Purchases Opening stock 5,232 1,576 8,808 1,860 5,365 1,253 6,618 Closing stock 4,948 5,042 58.2% 54.2% 6. Invo$tm•nt InGome 2024 Unrtricted 2023 Unrestricted COIF Account- Special repair$ and improvements fund 5524 7. Donatlons 2024 Unrestrf¢ted 2023 Unrestricted Arthur Rank Hospice Charty Alan Hudson Trealment Centre isbech Food 8anks Masonic Charitable Foundatio 3rd Wisbech Girl Guides 3rd Wisbech Scouts Fenland Families and Baby Bank Frig.nds of Victoria L¢xage Peckover Primary School Cambridgeshire Masonic Benevolent Association Friends of Wisbaeh Park Passageway George 2.700 820 1,500 500 2.000 1,676 soo 500 500 500 250 100 100 50 Page 10
THE WISBECH MASONIC BENEVOLENT FUND NOTES TO TME AGGOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 8. Prom188s and èquipment 2024 Unrestricted 2023 Unrestricted Repairs and Maintenance Insurance Electric Gas Water Rates Cleaning Fire Proleth'on Alarm Maintenonco Depreciation 545 4,978 1.909 318 316 298 2,843 110 192 1,698 2.832 3,654 1,984 377 351 278 2,577 153 267 2,577 9. Admlnlstrativè expon$gS 2024 Unrestricted 2023 Unresth'cted Telephone Licence Fees Expens•G r•lating to Ihg Courthou6a1oas¢ Professional Fees Sundry Expenses 125 79 11,948 111,9481 22 1,800 178 101 10. Flxod ass& Hall and Dining Room Land Fumiturg otc Total C08t Brought forward al 1 January 2024. and carried forward at 31 De¢embfjr 2024 1,380 29,188 22,872 53,440 Depraclatlon Brought forward at 1 January 2024 Charge for th8 yaar Carried forward at 31 December 2024 5,840 16,190 1.114 22,030 1,698 6,424 17,304 23,728 Net book valu0 Al 31 December 2024 1,380 22,764 5,568 29,712 At 31 December 2023 1.380 6,682 31,410 Pa9e11
THE WISBECH MASONIC BENEVOLENT FUND NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 11. Cash at bank and Cosh in hand 2024 Unrnstricted 2023 Unrestricted COIF Account National Westminster Bank Account Social Committee Account 151,716 32,224 5,033 144,321 27,527 2,S71 174419 Cash at bank 188 973 SOCBI Commrttae Bar float 395 250 2SO Cash in hand 645 12. CREDITORS: Amounts falllng duo wlthln on9 year 2024 Unrestricted 2023 Unrestricted Trade Credrtors A¢¢ru818 Independent examiners fee Deferred income 258 9.990 400 365 1.000 400 145 13. Funds The Administration Fund (Admin Fund) is at an unreslricled fund used to ensure that femaining funds in the charty are able to cover at least e1ve months 'Opefaling Costs,. The Special Repairs and Development Fund (Special Ropair8 Fund) Telates lo unrestricted funds retained lor substantial items of repair and to provide funds to contribute lo the remodelling of its Grade 2 listed property within the next ten to fifteen yeaTS. The Capital fund relates to unrestricted funds used to acquire the flxeé assets of the charty. It will retain any funds received ft)r that specific purpose. Page 12
THE WISBECH MASONIC BENEVOLENT FUND NOTES TQ THE AGGOUNTS {continuedl FOR THE YEAR ENDED 31 DECEMBER 2024 13. Fund8 (contiTrued> Capital fund Special Repairs fund Admin fund Total 2024 Fixed assets Current assets Cash at bank and Cash in hand Creditors.. Amounts falling due within one year 29,712 29,712 15.313 189,224 15.313 36,859 152,565 {10,6481 110,6481 152565 2023 223 601 Fixed assets Current assets Cash at bank and Cash in hand Creditors". Amounts fal&ng due within one year 31,410 31,410 2,938 175,064 2,938 30.743 144,321 11,910) {1,910) 144321 207 $02 14. Comparattve figuros - year ended 31 Decembor 2023 UnrestrÉctod fund8 Speclal REpalrs fund Capltsl fund Adn]in fund Totsi INCOME AND ENDOWMENTS FROM: Donations and legacies General donations Charltablp aGti¥ltle Contributions Social Acb'vities 4.926 600 5,526 12.770 2,923 12,770 2,923 Trading activities Bar sales fO,999 10.999 Investment income Interest 5,524 5,524 37,742 TOTAL INCOME EXPENDITURE ON: Charltable actlvltle8 Donations 8.176 8,176 Trading activities Bar purchases Support ¢06ts Premises and equipment Administrntlve expenses Gov•mance cost$ Independent examinab.on TOTAL EXPENDITURE 5,042 5,042 2,577 12,473 2.109 15,050 2.109 400 4th) NET (EXPENDITURE) I INCOME {2,5771 3A18 6,124 50 6,965 Transl¥i¥ FJ¢(ween funds NET MOVEMEMf IN FUNDS Page 13