Charity ReElStration Number: 207610
THE MARK BENEVOLENT FUND
FINANCIAL STATEMENTS
31 AUGUST 2021

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
The Trustees present their report and the financial Statements for the year ended 31 August 2021.
LEGAL AND ADMINISTRATIVE DETAILS
The charity is The Grand Lodge of Mark Master Masons, Fund of Benevolence and is re8lStered at thè Charity
Commission under registration number 207610. The charity operates as The Mark 8enevolent Fund.
The charity's address is 86 St James's Street, London SWIA IPL.
TRUSTEES
The Trustee5 of The Maik Benevolent Fund who served during the year, and to the date of signing this report,
were:
D F Ashbolt
J Bell
l N Cla¥k
H K Emmerson
P Hawken
K Hicks
C E Lord, OBE. JP
A S McLaren
A Morris
T C Pakra5hi
A l Torrance
MJ LWhelan,JP
Newly appointed Trustees receive an induction from the President and Grand Treasurer and attend training
courses as necessary.
ORGANISATION
The Board of Trustees delegate the day-to-day running of the charity to the management of the Grand Lodge of
Mark Master Masons. There are two sub-committee5 to the Board of Trustees..
The Worthy Causes Comrnittee provides assistance to othèr re81Stered charities. It meets two to three
times a year to examine applications looking for financial support or frtsm Mark Provinces and Di5tiicts
wishing to support suitable charities. The appropriatentsss of the allocation of the charity's funds is at the
forefront as applications are considered. Following a Worthy Causes Committee meeting, all members
are sent copie5 of the approved application5. If no queries are raised within ten day5. these grants will be
paid. All of the Trustees ol the charity are members of the Committee.
The Worthy Causes Committee also ha5 a Subcommittee that admSnisters grants up to £50,000 to enable
them to be dealt with swiftly. The members of thi5 committee are D Ashbolt (Chairman), P Hawken, K
Hicks. A McLaren. A Morris, C E Lord, T C Pakrashi.
The Petitions Committee provides relief to poor and distressed Freemasons, their wives. widows and
children. Individual grants of up to £15,000 may be made fof help with general living expense5 for a 12-
month period, relief of debt if appropriate and one-off items such as roof repairs and heating system
replacement. The Committee meets 8enerally every six to eight weeks dependin8 on the level of
applications. The member5 of the Committee are H K Emmerson (Chairman), I Clark, D Ashbolt, M Whelan
and A Torrance.
Page 1

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
PRINCIPAL ADVISERS
BANKERS
Clydesdale Bank plc
154-158 Xensington High Street
London
W8 7RL
FUND MANAGERS
JMFinn&CoLtd
4 Coleman Street
London
EC2R STA
AUDITOR
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
CONSTITUTION AND OBJECTS
The Mark Benevolent Fund is governed by both statute Icharities Act) and the ConstitutSons and Re8ulation5
dated 1955 and subsequent amendments. The objects of the charity are..
i)
the application of the charity's funds to any other exclusively charitable purposes as may be determined
from time to tlme by the trustees. In reachin8 that detefrnination. the trustees seek and consider the
views of the Grand Lodge and
the relief of need, hardship and distress arnong Mark Master Masons, their f3milie5 or other dependant
andlor amon85t retired ernployees of The Grand Lodge in such manner a5 the trustees shall from time to
time determine.
The Mark Benevolent Fund is st¢pported by contributions from Brethren, Ladies. LodEes and Provinces and these
may take ihe form of either donations. covenants, legacie5 or bequests.
The Trustees Confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to havè duè
regard to the guidance issued by the Charity Commission on public benefit.
21
AcfiviTIÉS
The total grants in the year paid out under the trusiees. grant making policy (see page 31 amounted to
£2,166,32712020.' £1.422.7441 of which £1,286,OCK) was paid to huspices, E832,958 was paid to 42 charities, and
£47,369 wa5 paid to Mark Master Masons and other dependants in need.
The Trustees have continued to review all application5 for grants and grants were made from The Mark
Benevolent Fund to Mark Master Masons or their wive5, widows, sisters etc. and for specific purptsses to other
Re8lStered Charities.
FUNDRAISING
The majority of thè tharitV'5 income is from the members of the Grand Lodee of Mark Master Masons. The Mark
Benevolent Fund has not engaged with third parties to raise fund5 and any direct approach to members of the
public for funding has been limited. No cornplaints were received in relation to the Mark Benevolent Fund'5
fundraising activities.
Page 2

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
GRANT MAKING POLICY
Grants are made to Mark Master Masons or their wive5, widows, slsters or other dependents or children, or
employee5 of the Grand Lodge who have retired, provided that Such grants are for the relief of need. All grants
awarded are subject to financial means testing and approval by the Petitions Committee.
Grant5 are 8150 made for charitable purposes other than for the relief of need (which are reported to Grand
Lodge). All granis awarded aTe subjeci to review and approval bythe mernber5 of the Worthy Cause5 Committee.
In April 2021. the Trustees of th@ Mark Benevolent Fund announced a Major Capital Grant to hospices to
commemorate the significant contribution made to the Crown and the nation by H R H The Prince Philip, Duke
of Edinburgh Isee note 4, page 131.
RESERVES POLICY
The total reserves of the Fund amounted to £23.50 million 12020.. £20.91 million). comprising unrestricted
reserves of £22.48 million12020.' £19.88 million) and designated funds of £1.02 million12020'. £1.03 mlllionl.
The free reserves of the Fund total £22.48 million at the year-end12020.' £19.88 million).
The majority ol grant5 are paid to Non Masonic Charities with the balance paid in th@ main to the elderly, these
take the form of either errergency grants or annuity grants which may have to be maintained for. on average,
between 12 and 15 years. It is the policy of the Trustees to enst¢re that the fund has adequate reserves to pay
these grants each year. Funds are a150 retained as It IS the practice to make subsiantial donations from time to
time and investrnen15 and income therefore must be maintained to further this policy.
GOINfj CONCERN
The Mark 8enevolent Fund is managed by the Board of Trustees which are all honorary p051tion5 therefore there
are no dlrect financial costs in the mana8ement of the fund. The Charities Manager and the financial control
administration dutie5 are provided by employees of the Grand Lodge of Mark Master Masons.
Our planning processe5 take into consideratlon the current economic climate. including the Covid-19 pandemic,
and its ongoing impact on the various sources of income and planned donations. The fund raising is mainly
provided by Mark Masons who have. by rotation of each province in the England and Wales. Mark Benevolent
Festivals which are usually the result of special events over the previous five to seven years. It ¢$ expected that
this will continue for the foreseeable future. In addition the donation policy of the trustees is that the annual
payments to Worthy Causes do not normally exceed the dividend income from the inve5tment5.
Trustees consider that there are sufficient reserves held at 31 August 2021 to manage any foreseeable downturn
in the UK economy. The Trustees consider that there is a reasonable expectation that the charity has adequate
resources to continue in operational exi5tencÈ for the foreseeable future and, for thls reason. the Trustees
continue to adopt the going concern basis in prepaiing the financial statements.
INVESTMENT POWERS
Investment powers are set out and operated within the provisSons of the Trustee Act 2000. The investments are
managed by the Investment Comrnittee, appointed by the Trustees, which is advised by l M Flnn & Co Limited.
INVESTMENT POLICY AND PERFORMANCE
The policy of the trust deed is to quickly provide grants in rellef of need for Mark Masons and their dependents
and from time to time to rnake substantial grants to Worthy causes Ilkely to benefit Mark Ma50n5 and so far as
funds permit to make similar grants to non-masons. The sources of income for the fund are donatlons from the
members with additional receipts from the annual festivals, the amount of which depends on the numbec of
Lodges in the province supporting the festival, and any investment income (including capital gains).
Changes are made to investments held on the basis of seeking to maintain the existing funds and to increase
them so far as p055ible. In accordance with these aims. the funds are managed by J M Finn & Co Limited. The
Investment Committee. appointed by the Trustees, reviews the funds on a regular basis.
Page 3

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
RISK POLICY
The Trustee5 have reviewed their procedures to identify and examine the major strategic, business and
operational risks that the Charity faces. The necessary 5YStems are e5tabli5hed to enable report5 to be produced
to ensure that action is taken to mana8e the effects of the identified risks. Below a summary of ihe major risks
faced and policies to mitigate these.
Risk
Loss ol Key Staff
Disaster recovery
steps to mltlgate rlsk
Succession planning, document systems, agree notice period5 and handovers
Agree IT recovery plan, implement data back-up. review insurance, create disaster
recovery plan
Review & agree policy, obtain advice & management, implement reserves policy,
regular performance monitoring
Communicate with supporters & beneficiaries. good quality reporting of aCt￿VItieS
& financial situation, implement public relations traininglprocedures
Review & agree compliances procedures and allocation of staff Te5pon5ibililies
Investment Policies
Public Perception
Regulatory reporting
TRUSTEES. RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees. Report and the financial statemen15 in accordantè
with applicable law and regulations.
Charlty law requires the Trustees to prepare financial statements for each financial year irt accord3n¢e with
United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable
law.
Under charity law the Trustees must not approve the finan¢sal statements unless they are sa115fied th3t they
Bive a true and fair view of the state of affairs of the charity and of its net Incomin￿Out80in8 resources for that
period. In preparing these financial statements, the Trustees are required to..
select 5Ultable accounting policies and then apply them con515terbtly;
observe the methods and principles in the Charities SORP..
make Judgments and estimates that are reasoNable and prudent..
prepare the financial statements on the going concern basis unless it is inappropriate to prèsume that
the charity will continue to operate.
The Trustee5 are responsible for keeping adequate accounting records ihat are sufficient to show and explain
the charity'5 transactions and disclose with reasonable accuiacy at any time the financial position of the charity
nd enable them to ensure that the financial statement5 comply with the Charities Act 2011, the Ch3rity
(Accounts and Reports) Regulations 2008 and the provisions of the charlty's constitution. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
AUDITOR
Crowe U.K. LLP has indicatèd its willingness to be reappointed as statutory auditor.
Approved by the Tru5tee5 on 24, january 2022 and si@ned on their behalf by..
D F A5hbolt
Deputy Presidènt o
e Mark Benevolent Fund
Page 4

Independent Audltorfs Report to the Trustees of the Mark Bènevolent Fund
Opinion
We have audlted the financial statement5 of the Mark Benevolent Fund for the year ended 31 August 2021
which comprise Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and note5 to the
financial statements, includi4)g significant accounting policies. The financial repoiting framework that has been
pplied in their preparation 15 applicable lèw and United Kingdom Accounting Standards, includSng Financial
Reporting Standard 102 The Financial Reporting Standard applicable in thè UK and Republic of Ireland Iunited
Kingdom Generally Accepted Acetsuniing Practi￿1.
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 August 2021 and of it5 incoming
resouyces and applicarion of resources, including its income and expenditure for the year then ended,.
have been properly prepared in accordance with United Kin8doTh Generally Accepted Accounting
Practice; and
have been preparod in accordance with the requirements of the Charities Act 2011.
Basis for opinlon
We conducted our audit in accordance with InternatiL)nal Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responslbilitles under those standards are further described in the Auditor's responsibilities for the
udit of the financial statements section of our report. We are independent of the charity in accordance with
the ethical requirement5 that are relevant to Oljf audit of the financial statements in the UK, intluding the FRC'S
Ethical Standard. and we have fulfilled our other ethical responsibilities In accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basi5 for our
opinion.
Concluslons relatlng to going concern
In auditing the financial statements. we have concluded that the tru5tees' use of the going concern basi5 of
accounting in the preparation of the financial statements 15 appropriate.
Based on the work we have perforrned, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast $18nificant doubt on the charity's ability to continue as a
going concern for a period of at leasi twelve months from when the financial statèments are authorised for
Issue.
Our responsibilitie5 and the responsibilities of the trustees wilh respect to going concern are described in the
relevant sections of this report.
Other Intormatlon
The trustees are responsible for the other information contained within the annual report. The other
inlormation comprisès the information included in the annual report, other than the financial statements and
our auditor's report thereon. Our opinion on the financial Statements does not cover the other information and
we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other inforrnation and, in doing $0, consider whether the other informatloll 15
materially incon51Stent with the financial statements or our knowledge obtained in the audit or otherwise
appeals to be materially misstated. If we identify such material inconslstencies oi apparent material
misstaternents, we are required to determine whefheT this gives rise to a material misstatement irb the financial
statements themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other information. we are required to report that fact.
We have nothing to report in this regard.
Page 5

Matters on which we are requlrèd to report by exceptlon
We have nothing to report in respect of the folltswing matters in relation to which the Charities (Accounts and
RepDrtsl Regulations 20f)8 require us to report to you if, in our opinion..
the inforrnation given in the financial statements is incon51Stent in any material respect with the
trustees, report.. or
sufficient accounting records have not been kept,. or
the financial statemènts are not in agreement with the accounting records and returns,. or
we havè not received all the information and explanations we require for our audit
Resptsnslbilities of trustees
A5 explained more fully in the trustees, ¥esponsibilities statement set out on page 4, the trustees are
responsible for the preparation of the financial statements and foi being satisfied that they give a true and lair
view, and for such internal control as the trustees determine is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitvs ability to continue
85 3 golng concern, disclosing, as applicable, matter5 related to goin8 concern and using the going concern
basi5 of accounting unless the trustees either intend to liquidate the charity or to cease operation5, or have no
realistic alternailve but to do so.
Audttor's responslbilities for the audit of the finandal statements
We have been appointed as auditor under section 144 of the Charitlès Aci 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statement5 as a whole are free
from rnaterial misstatement. whether due to fraud or error, and to 155ue an auditor's report that include5 our
opinion. Reasonable assurance 15 a high level of assurance, but 15 not a guarantee that an audit conducted in
accordance with ISA5 IUKI will alway5 detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they Could reasonably be
expected to influence the economic decisions of u5er5 taken on the basis of these financial statements.
Irregularities, includin8 fraud, aTe instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above. to detect material mi55tatements in respect of
irregularities, including fraud. The extent to which OUT procedures are capable of detecting irregularities,
including fraud is dètailed below..
A further description of our responslbilltles for the audit of the financial 51atèments is located on the Financial
Reporting Council's website at-. www.frc.or
auditorsres
onsibilities. This description forms part of our
auditor's report.
Extènt to whlch thè audlt was consldered capable of detettin8 Irregularltles. Includlng fraud
l¥regularities. including fraud, are instance5 of non-compliance with laws and regulations. We Identified and
assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud
or error, and di5CUS5ed thesè bètween our audit team members. We then designed and perforrned audit
procedures responsive to those risks. including obtaining audit evidence sufficient and appropriate to provide a
basis for our opinion.
Page 6

We obtained an understanding of the legal and regulatory frameworks within which the charity and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity and the group for fraud. The laws and regulations we considered in this context for the UK operations included General Data Protection Regulation (GDPR). 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. 

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Management Board about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, sample testing of income, reviewing regulatory correspondence, and reading minutes of meetings of those charged with governance. 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

## **Use of our report** 

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Crowe U.K. LLP** 

Statutory Auditor 

## **London** 

## **7 March 2022** 

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 



THE MARK BENEVOLENT FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2021
2021
2020
Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
Investments:
Investment income
Interest receivable
Other..
Rent receivable. 86 St. James's Street, London SWI
1.224,870
1,360,908
503,998
1,265
592.166
236
Total
1.730,133
1.953,310
EXPENDITURE ON:
Ralslt)g funds
Investment management fee5
Charltable actlvltles
Grants & Support Costs
8enevolent jewe15 distribution
98,516
89.705
2,532,970
44,855
1.781.523
42.857
Total
2,676.341
1,914,085
OPERATING ILOSSI I SURPLUS
1946.2081
39,225
Nel gains / Ilossesl on Investment assets
3,534.646
158,3601
NET INCOME I IEXPENDITUREI
2,588,438
(19.135?
NET MOVEMENT IN FUNDS
2.588,438
119.135)
FUND BALANCES
As at I September 2020
20.912.240
20,931,375
FUND BALANCES CARRIED
FORWARD
23.500,678
20.912,240
All of the above ère represented by contlnuing operations.
There are no recoÉnised Èains and losses other than those shown above.
The notes on pages 11 to 16 form part of these flnanclal statements.
Page 8

THE MARX BENEVOLENT FUND
BALANCE SHEET
31 AUGUST 2021
2021
2020
Notes
FIXED ASSETS
Tangible fixed a5set5
Investments
1,020,800
22,150,786
1.029,200
18,814,657
23,171.586
19,843,857
CURRENT ASSETS
Debtors
Cash at bank
152.250
317,627
79,418
1,054,454
469,877
1,133,872
CURRENT LIABILITIES
Creditors
140,785
65.489
140,785
65.489
NETCURRENT ASSETS
329,092
1,068.383
TOTAL ASSETS LESS CURRENT LIABIL￿lEs
23,500,678
20,912,240
REPRESENTED BY FUNDS
Unrestricted
Designated fixed assets fund
General fund
1.020.800
22.479,878
1,029,2t
19.883.040
23.500.678
20,912,240
The financial Statements were approved by the Trustees and authorised for issue on 24, January 2022
and signed on their behalf by-
J Bell
Presldent of the Mark Benevolent Fund
The notes on pages 11 to 16 form part of thèse flnanclal statements.
Page 9

THE MARK BENEVOLENT FUND
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2021
2021
2020
Notes
Cash flowg from operating actlvltle5:
Net cash used by operating activities
11,440,607)
[530,935J
Cash flows from Investlng actlv5tles:
Investment income
Proceed from sale of inve5trnenlS
Purchase of investments
505.263
2,622.412
I2,423￿95)
592,402
2,487,870
12,398.165)
Net cash provlded by Inve5tlng artlvltles
703 780
Change In cash and cash equlvalents In the year
1736.827}
151,172
Cash and cash equivalents brought forward
903 282
Cash and cash equSvalents carried forward
Reconclllatlon of net lexpendlturellln¢ome to net cash
flow from operatin8 activitiès
2021
2020
Net lexpenditurel/in¢ome for the year las per Statement
2.588,438
(19.1352
Adjustment for..
Investment income
Loss/lgainl on investments
Depreciation of tangibles fixed assets
IlncTèasel/decrease in debtors
Increaselldecrea5el in crèditors
1505,263}
13,534.6461
8,400
172.8321
1592,402)
58,360
8,400
383
Net cash used by operating actlvltles
07
Analysls of cash and cash equlvalents
2021
2020
Cash in hand
317.627
1,054,454
Total
Page 10

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
CHARITY INFORMATION
The Charity is a Public Benefit Entity registered as an unincorporated charity registered in England and
Wales (registration no. 2076101 and operates from its registered office Mark Ma50ns' Hall. 86 St.
James's Street, London, SWJA IPL.
ACCOUNTING POLICIES
(al
Basis of Accountln8
The financial statements have been prepared in accordance with the Charities SORP IFRS1021
applicable to ch8ritie5 preparing their accounts in accordance wlth the Financial Reporting Standard
applicable in the UK and Republic of Ireland and the Charitie5 Act 2011 and UK Generally Accepted
Practice.
The financial statements have been prepared to Elve a 'true and fair" view and have departed from
the Charities IAccounts and Report51 Regulations 2008 only to the extent required to provide a "true
and fair~ view. This departure has involved following Accounting and Reporting by Charities pieparin8
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc
of Ireland IFRS1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities..
Statement of Recomrrended Pra¢tlce effective from l April 2005 which has since been withdrawn.
(bl
Donations
Donations received for a speciftc year and deposited with The Mark Benevolent Fund are included in
the Statement of Financial Activities In the year of receipt.
Other donations, where the restslulion to make a gift to The Mark Benevolent Fund is uncertain. are
included in the Statement of Financial Activities on a receipts basis.
Gifts
Gift5 received ill the year are Included in the Statement of Financial Activitie5 at their market value on
the date received.
Amortlsatlon of Leasehold Propèrty
In accordance with the terrns agreed with the Charity Commissioners, The Mark Benevolent Fund
invested £1,200.000 in the acquisition and conversion of 86 St. James's Street, London SWI. The
original lease was for 99 years from 5 january 1979. This has been subsequently renegotiated and a
new 125 year lease from April 2018 agreed. Thi5 has resulted in an increase in the charge for the
amortisation of the lease from £4.200 per annum to £8.400 with effect from September 2019. This
will continue to be borne by the General Fund of The Grand Lodge of Mark Master Mason5.
The residual econtsmic life of leasehold property is reviewed on a regular ba515. The Trustees have
determined the p051tion with re6ard to property deprèciation as stated above. The Trustees are also
of the view that the tarrying value of this a55et is not impaired having a55es5ed the service deliverv
and will undertake future reviews in accordance with FRS 102.
lel
Investments
Fixed asset investments are revalued to market value at the balance sheet date and the Surplus or
dèficit of this revaluation represents uniealised gains or losse5.
The differences between the carrying value lor cost if acquired in the yearl and the proceed5 of
investments disposed of represent realised investment gains or losse5.
Net realised and unrealised gains or losses are shown a5 a tombined figure in the Statement of
Financial Activities.
Page 11

THE MARK BENEVOLENT FUND
NOTES TOTHE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
ACCOUNTING POUCIES ICONTINUEDI
Expenditure
Expendlture Is accounted lor under the accruals concept. The irrecoverable èlement of VAT is in¢ludÈd
with the item of expense to which it relates. Staff are employed by The Grand Lodge of Mark Master
Mason5 and relevant staff costs are recharged to The Mark Benevolent Fund as part of the
administration fee.
Investment Income
Investment income is accounted for on an accruals basis.
Ihl
Governance Costs
Governance costs relate to the statutory running of the charity.
Flnanclal Instruments
The charity has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at amortlsed cost using the effective interest method. Financial assets held at atnortised
cost comprise cash and bank and in hand. together with trade debtors, accrued interest ènd other
debtors. f inancial liabilities held at amortised cost comprise grant5 payable and atcru31s.
Investments, including bonds held as part of an investment portfolio are held at fail value at the
Balance Sheet date, with gains and losses bein8 recognised within income and expenditure.
Crltlcal accountlng lud8ements and key sources of estlmatlon uncertaSnty
In the application of the charity's accounting policies. Trustees are required to make judgernents,
estimates, assumptions about the carrying values of asset5 and liabilities that are noi readily apparent
from other sources. The estimates and underlying assumptions are based on hi5toric61 experience and
other factors that are considered to be relevant. Actual result5 rnay differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision 3ffect5 only that
period, or in the period of the revision and future periods if the revision atfect5 thÈ current and futuie
periods.
In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting
asset5 and liabilities at the balance sheet date are likely to result in a material adjystment to their
carrying amounts in the next financial yea¥.
Page 12

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
ACCOUNTING POLICIES ICONTINUEDI
Ikl
Going contèfn
The Mark Benevolent Fund is managed by the 8oard of Trustees which are all honorary positions
therefore there are no direct financial cost5 in the management of the fund. The Charities Manager
and the financial control administration duties are provided by employee5 of the Grand Lodge of Mark
Master Masons.
Our planning proce55e5 take into consideration the current economic climate including the Covid-19
pandernic, and it5 ongoing impact on the various sources of incorne and planned donations. The fund
raising is mainly provided by Mark Masons who have. by rotation of each Pfovince in the England and
Wales. Mark Benevolent Festivals which are usually the result olspecial events over the previous five
to seven years. It 15 expected that thi5 will continue for the foreseeable future. In addition the
donation policy of the trustee5 IS that the annual payments to Worthy Causes do not normally exceed
the dividend income from the investments.
Trustees con5iderthat there are sufficient reserves held at 31 August 2021 to manage any foreseeable
downturn iii the UK economy. The Trustees consider that there ss a reasonable expectation that the
¢harity has adequate resources to continue in operational existence for the foreseeable futufe and,
for this ieason. the Trustees continue to adopt the going Concern basis in preparing the financial
Statements.
SUPPORT COSTS
2021
2020
Administration fee
Printing and stationery
General expenses
Rent paid
Bank Charges and Insurance costs
Governance costs (note Sl
2LMI,000
200,000
IIA25
135.000
18
19.800
366.643
4,227
135.(X
52
19.500
358.779
All support costs are applicable to grant makin8 which 15 the chèrity's only charitable activity and are included
wlth the grant making costs on the face of the Statement of Financial Activities.
Page 13

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
GRANTS
2021
2020
Grant5 to other charities
Major capital 8rant to support hospices in England & Wales
Grants to individuals
832,958
1,286,1)00
47,369
2,166.327
366.643
2,532.970
1.304.326
118.418
1.422.744
358.779
1,781,523
Support costs (note 31
The grants to other charitie5 in the year were-.
Carers Support Centre
Leicestershire & Rutland Festive Keystone Boxes
Stafford & Qlistrict Carers Trust
The Martha Trust
United Response Cheriton Community Network
Hope4 Centre in Rugby
West Yorkshire Scouts
Tree of Hope
Transform CPR
West London Ma50nic Centre
Kingfisher Medway Trust
Age Concern Manchester
Isight Cornwall
Miskin Scout Village
CLand & Westmorland Laptops Project
Clowns in the Sky
SERV OBN - Blood Bike Group
Basing5toke & Alton Cardiac Rehab Chafltv
Blotsming Blossoms
Maryport Inshore Rescue Boat Charitv
I, Burstow Scouts Gioup
Hoisley. Bookham & Leatherhead Riding for the Disabled
Disabled Sailors Association
Colney Heath Scout Group
I" Warlingham Scout Group
Abbey Lane JFC- Sheffield
Kingfisher Medway Trust
Sea Pallin8 Independent Lifeboat
Reigate & 8anstead Women's Aid
Forget Me Not Children's Hospice
George Elliot Hospital- Serenity Garden Project
st John Ambulance- Southwlck
Beep Fund Ltd
Kingfisher Medway Trust
Kent Association for the Blind
Cheltham's School of Music
Peter Le Marchant
Hertfordshire Scouts
Emergency Cyprus Appeal
2,883
4,01)0
3,581
13,288
3,980
6,154
74,500
29.512
7.000
32.739
IS.897
10,700
20.000
25,000
29.600
5.000
6,678
62,890
5,192
18,506
27,590
15,1)00
6,880
13,375
29,712
56,394
5,430
10.000
2,608
24.000
83,500
24,605
8,440
2,500
25.000
17.345
25.000
Page 14

THE MARK BENEVOLENT FUND
NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
GRANTS Icontinuedl
Age Contern- Elderly Merstham Redhill & Reigate
Kingfisher Medway Trust
Imperial Health Charity
1,850
33,120
34,509
832,958
1,304,326
The Major Capital Grant of £1.286.000 was distributed through Mark Lodges in England & Wales who
each nominated a local hospice to receive a £l.000 donation wholly funded by the Mark Benevolent
Fund. Of our 1,286 lodge5 of Mark Master Masons, 230 different charities were chosen which in turn
manage the runnin8 01273 h05Pitès.
GOVERNANCE COSTS
2021
2020
Auditor's remuneration
19,81JO
29.500
No Trustee received any remuneration or reimbursement of expenses during the current or previous
vear.
FIXED AssFrs
Leasehold
property
C05t
At 31 August 2021 and I September 2020
2021
1.2QO,000
Depreciation
At I September 2020
Charge for the year
170,800
8.400
At 31 Au8U5t 2021
179,200
Net Book Value
At 31 Au8U5t 2021
1,020.800
At 31 AugUSt2020
1,029,200
Page 15

THE MARK BENEVOLENT FUND
NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2021
INVESTMENTS
2021
202D
Market value at I September 2020
Les5 .' Disposal proceeds
Add Acquisition5 at Cost
Net realised and unreali5ed gains
18,814,657
12,622,412)
2,423,895
3,534.646
18.962.722
(2.487.870)
2.398.165
158,360)
Market value at 31 August 2021
22.150.786
18,814,657
Historic c05t
13,716,021
13,295,396
All investments are listed on a recognised stock exchanee and managed in the UK by J M Finn & Co
Limited. The investments at the year-end comprised..
Fixed interest
Equities
Other Iproperty. Alternative Assets & Emerging Economiesl
2,176,366
15,553,816
4,420,604
22,150,786
2,381,115
12,520,763
3.912,779
18,814.657
Unrealised gainslll055esl amountin8 to £4,740,70912020.. £1,825,20513re based on a valuation at the
year-end which is unlikely to equate to the actual gains and losses which wlll arise on the subsequent
realisatlon ol those investments.
TAXATION
The Mark Benevolent Fund 15 a re8lStered charity and is able to take advant38e of the exèmptions from
tax for charitie5 on its income and investment gain5.
RELATED PARTY TRANSACTIONS
The Fund is administered by The Grafid Lodge of Mark Master Masons IGLMMMI. The Fund paid
management fee of £200.000 in the year12020'. E20D.O(Xll to GLMMM to cover staff and administration
costs and charged rent of £nil12020.. £nill lo GLMMM. Due tts changes in the terms of the Lease, GLMMM
now pays the rent direct to Crown Properties. Included in Donations and Legacies is an amount of
£135.IXX)12020.- £135.0001 in respett of the rent paid directly on behalf of the Fund. A corresponding
expense is included within support Costs.
At the yearend GLMMM owed MBF £29,31012020= MBF owed GLMMM £14.2841 in respect of these
transactions.
Page 16