Charity Registration Number.. 207610
THE MARK BENEVOLENT FUND
FINANCIAL STATEMENTS
31 AUGUST 2024

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT
FOR THE YEAR ENDÉD 31 AUGUST 2024
The Trustees present their report and the financial statements for the year ended 31 Au8U5t 2024.
LEGAL AND ADMINisfRATIVE DEfAIiS
The charity is The Grand Lodge of Mark Master Ma50ns' Fund of Benevolence and is registèred at the Charity
Commission under registration nurnber 207610. The charity operates as The Mark Benevolent Fund. The
charity's address is 86 St James's Street. London 5WIA IPL.
TRUSTEES
The Trustee5 of Thè Mark Benevolent Fund who served during the year, and to the date of signing this report.
were..
l N Clark
W A Divall
D J HIII (Appoinied 11161241
G Hutchinson (Appointed 11161241
K Hicks
A S McLèren (Retired 11161241
R J Olliver
T C Pakrashi (Retired 11161241
D Powell
R F Richardson
Drj Shervington IAppointed 1ty61241
) Steggles
D Thomas
A l Torrantè
M l L Whelan, JP IDeceased 28111241
Newly appointed Trustees recewe a brieling from the President and Honorary Secretary, an induction pack from
the Charitie5 Manager and attend training days as necessary.
ORGANISATION
The Board of Trustees delegate the day-to4ay runnlng of the chaiity to the management of the Grand Lodge of
Mark Master Masons. There are three sub-committees to the Board of Tru5tees'.
11 The Petitions Commtrteè provides relief to poor and distressed Mark Master Masons, their wives, widows
and children. Individual grant5 of up to £15,000 may be made for help with general living eKpensès for a 12-
month period. relief of debt if appropriate and one-off items such as roof repairs and heating 5VStem
replacement. Committee members carefully consider each application circulated by ernail and
independèntly report back to the Petitions Committee chairman who notifies the CommSttee's decision to
the Charities Manager. The mernbers of the Cornmittee are J Ste8gles (Chairman), W A Divall, G Hutchinson,
D Powell and D Thomas. The full BoaTd of Trustees meets quarterly when all pedtions for relief are noted,
21 The Worthy Causes Committee awards grants to other registered charitie5 and worthy causes. Applications
for assistance are received from re815tered charitiès and worthy causes, or from provsn¢es on their behalf,
bythe Charities Manager. In cases where the charity15 seeking le55 than £50,000, the application is circulated
by email to rnember5 of the Worthy Causes Committee by the Charities Manager. They carefully consider
the application and send their views to the Chalrman of the Worthy Causes Committee who notifies the
Commltteè's decision to the Charities Manager, 50 that the charity can be informed. The members of the
Worthy Causes Committee are K Hicks Ichalrmanl. D Hlll. R Olllver, R Richard50n and J Shervington. In cases
where the charlty 15 seeking £S0,CNJO or more, the appllcatlon is circulated by ernail to all members of the
Board of Trustees for consideration. Each Trustee sends his vlews to the Presldent of the Fund who notifies
the decision to the Charitie5 Manager. The full Board of Trustees meets quartèrly when all applications are
noted.
31 The Grand Master's KÈystonè Fund Steering Group and Awards Panel (new fundl, founded for the
purpose of awardin8 bursaries to encourage educational and vocational achievement, is named aftèr our
Grand Master, HRH Prince Mlchael of Kent GCVO, in gratitude for over 40 years of service to Mark Masonry.
Applicants for a bursary may be the children, stepchildren, grandchildren. spouse, widow, or other
dependent of a member or de￿aSed mernber of an OrdeT administeied from Mark Masons, Hall, or may be

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2024
a member themselves. The Steering Group. chaired by Archie Torrance (President), 15 ovèr5eein8
development of the bursary scheme and meets monthly. An Awards Panel will be e5tabli5hed to consider all
bursary applications. It will be chaired by lan Clark IDeputy President) assisted by panel members yet to be
appolnted. A Bu￿arY Scheme Coordinatof will be appointed to provide administrative support to the Award5
Panel. It is anticipated that the first bursaries will be awarded In 2025.
PRINCIPAL ADVISERS
BANKERS
Clydesdale Bank plc (Trading as Virgin Moneyl
7 Gold Street
Northampton
NNI IEN
FUND MANAGERS
JMFinn&CoLtd
4 Coleman Street
London
EC2R STA
AUDITOR
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
CONSTITUTION AND 08JECTS
The Mark Benevolent Fund is governed by both statute (Charities Actl and the Constitutions and Regulafjons for
the Government of the Order of Mark Master Masons dated 1955 and subsequent amendment5. The object5 of
the charity are delined as follows.
The Trustees shall hold the Fund of Benevolence and Its Income upon trust to apply them subject to the
provisions of the Regulab'on5 for-
such exclusively charitable purposes as may be determined from time to time by the Trustees, who in
reaching thai determlnation shall seek and consider the views of the Grand Lodge,. and
the relief of need, hardship and di5tre55 arnong Mark Master Masons, their familie5 or other dependant,
andlor amongst retired employees of The Grand Lodge In such manner as they shall from time to tr'me
determine.
The Mark Benevolent Fund is sUPPOrted by contrlbutions from Brethren, their Ladies, Lodges. Provinces and
Districts and these may take the form of donations. covenants, legacies or bequests.
The Trustees confirm that they have complied with the duty in se¢tion 17 of the charl￿e5 Act 2011 to have due
regard to the Buidance issued by the Chadty Commission on public benefit.
21
AcfMTIES
Thè total grants made in the year under the trustees. grant-makinE policy Isee page 31 amounted to £1,372,013
12023-. £1,092,427) wa5 paid to 53 charities, and £14,22012023= £45,070) was paid to Mark Master Masons and
other dependants in need. Following the year end the trustee5 assigned two major Capltal grants totslling
approxlmately £2.5 mllllon to Blood Bikes- Englar*d & Wales, Wheelchair Rugby aubs and Great Britain National
Wheelchair Rugby Team.
The Trustees have continued to review all petitions for relief and all applications from registered charifjes an
worthy causes. Gfants were made from The Mark Benevolent Fund to Mark Master Masons, their families, or
other dependants and for specific purposes to other reÈisterèd tharitiès and worthy causes.
FUNDRAISING
The majority ofthe charity's income is from the member5 of the Grand Lodge of Mark Master Masons. The Mark
Benevolent Fund has not engaged with third parhes to raise funds and any direct apprclach to members of the

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
public for funding has been limited. No complalnts were received in rela￿On to the Mark Benevolent Fund'5
fundraising activities.
GRANT MAKING POUCY
Grants In response to pe￿tiOnS for rellef are made to Mark Master Masons, thelr familles or other dependents,
ndlor retired Èmployee5 of the Grand Lodge, provided that 5vch grant5 are for the relief Of need or distres5. All
grants awarded take account of a petitioner's financial Circumstances and require approval by the Petitions
Committee.
Grants are also made for charitable purposes other than forthe relief of need. All such grants awarded are subject
to approval by the members of the Worthy Causes Commlttee or the full Board of Trustee5. and are reported to
G￿nd Lodge.
RESERVES POUCY
The total reserves of the Fund amounted to £20.8 rnillion12023-. £19.6 million), comprising unre5tri¢ted reserves
of £19.8 million12023'. £18.6 million) and designated funds of £l.O mlllion12023-. £1.0 million). The free resèrve5
of the Fund total £19.8 milllon at the year-end12023.' £18.6 milllonl.
Thè majoiity of grants are paid to non masonic charities with the balance paid in the main to the elderly. These
tske the form of either ordinary grants. emergency grants or annuity grants which may have to be maintained
for, on average, betwèen 12 and 15 years. It is the policy of the Trustees to ensure that thè fund has adequate
reserves to pay these grants each year. Funds are also retained as it is the prathi¢e to make major capitsl grants
from time to time. investments and income must therefore be maintained to further this policy.
GOING CONCERN
The Mark Benevolent Fund is governed by a board of twelve Trustees, which are all honorary poslfjons therefore
there are no direct financial costs in the governance of the Fund. The Charities Managei iole and the financial
¢onirol administration duties are provided by employees of the Grand Lodge of Mark Master Masons.
aur planning processe5 take into consideration the current economic climate and its ongoing impact on the
various sources of income and planned donations. Fundraising is mainly prowded by Mark Master Masons who
host. by rotation of each province In England and Wales, Mark Benevolent Fund Annual Feslivals. The Annual
Festival Result reflect5 the totsl funds raised over the course of the festival period of around 10 years. It is
expecled that this approach will continue for the foreseeable future.
Trustee5 consider that there are sufficient reserves held al 31 August 2024 to respond to any foreseeable
downturn in the UK economy. The Trustees conslder that there is a reasonable expertatlon that the charity has
adequate resourcès to continue in operational existence for the foreseeable fijture and, for thls reason, the
Trustees contlnue to adopt the 80in8 concern ba515 in preparing the financial statements.
INVESTMENT POWERS
Investment powers are set out and operated within the provisions of the Trustee Act 2000 and the Trust Deed.
The Investments are overseen by the Investment Committee, with J M Finn & Co Lirnited appointed to manage
the investment5 on a discretionary management basis.
INVESTMENT POLICY AND PERFORMANCE
The investment portfolio is managed by JM Finn & Co Ltd under their Discretionary PortFolio Managemènt
Servicè. Our Investment Objective 15 to seek a combined return from incorne and capital growth. A medium risk
portfolio with no speclfied minimum of low risk investments has been selected. There are currently no
investment restrictionslspeaal SnstructSons given to JM Flnn & Co Ltd.
The aim in the Trust Oeèd is to quickly provide grants in relief of need or distress fDr Mark Master Masons and
their dependants, to support other registered charities and worthy causes and from time to time to award major
capital grants to worthy causes. The source5 of income for the Fund include donations from members. funds
raised from annual fesdvals, gifts left In willsllegacies and any Investment Income lincludlng capltal growth).
The Investment Committee of which the President of the Mark Benevolent Fund 15 a member mèets quarterly to
review investment portfolio funds.

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
R15K POLICY
The Trustees have reviewed their procedure5 to identify and examine the major strategic, busines5 and
operational risks that the charity face5. The ne￿$sary 5YStems are established to enable reports to be produced
to ensure that action is takèn to manage the effects of thè Identified risks. Below is a summary of the major risks
faced and policies to mitigate these.
R5sk
Loss of Key Staff
Disaster recovery
Steps to mltlgote rfsk
Succession planning, document systems, agree notSce periods and handovers
Agree IT recovery plan, implement data back-up. review insurance. create disaster
recovery plan
Review & agree policy, obtain advice & rnanagement, implement reserves policy,
gular performance monitoring
Communicate with Supporters & beneficiaries, good quality reporting of acknvitiès
& financial situatlon, support for worthy causes
Review & agree compliance5 procedures, allocation of staff responsibilities
Investment Polides
Public Pèrtèption
Regulatory reporting
TRUSTEES, RESPONSIBILMES
The Trustees are ie5pon5ible for preparing the Trustees, Report and the financlal statements In accordance
with applicable law and regulations.
Charity law requirès the Tru%tèÈs to prèparè linantial statèments for èach financial year in accordance with
United Kingdom GenerallyAccepted Accounting Practice (United Kin8dom Accounting Standards) and applicable
law.
Under charity lawthe Trustees must not approve the financial ststements unless thèy are sarfsfled that theygive
true and fairview of the ststè of affairs of the charity and of its nèt intomin81out8olng resour¢esforthat period.
In preparin8 these financial statements, the Trustees are required to..
select suitsble 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.
prepare the financial ststements on the gr)ing concern basis unless It Is inappropriate to presume that
the charity will continue to operate.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitvs transactions and disclose with reasonable accuracy at any time thè flnancial position of the charity and
enable them to ensure that the financial 5taternents Comply with the Charities Act 2011. the Charlty IAccounts
and Reports) Regulations 2008, the Con5titution5 and Regulations of the Grand Lod8e of Mark Mastèr Ma50n5
and the provisions of the charity'sTrust Deed. They are also responsible for safeguarding the asset5 of the charity
and for taking reasonablè steps for the prevention and detection of fraud and othèr Irregularities.
AUDrroR
Crowe U.K. LLP has indicated its willingness to be reappointed as Statutory auditor.
Approved by the Trustees on 4, February 2025 and signed on thèir behalf by..
tbald l. Torrance
Presidènt of the Mark Benevolent Fund

Independent Audltor's Report to the Trustee5 of the Mark Benevolent Fund
Opinion
We have audited the financial statements of the Mark Benevglent Fund for the year ended 31 Au8U5t 2024
which comprise Statement of Financial Athvities. the Balance Sheet, the Cash Flow Statement and note5 to the
finan¢ial statements, including si8nifi¢ant a¢counDng policies. The financial reporbn8 framework that has been
applied in their preparation 15 applicable law and United Kingdom Accounting Standards. including Flnancial
Reportlng Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Irelarbd (United
Kingdom Generally Accepted Accounting Pracucel.
In our opinion the financial ststements:
give a true and fair view of the state of the charity's affairs as at 31 Au8USt 2024 and of it5 incoming
resources and application of resources, Including its income and expenditure for the year then ended;
have been properly prepared In accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Chartties Act 2011.
Basis for oplnion
We conducted our audit In accordance wlth International Standards on Audlttng IUKI IISAS IUKII and applicable
law. Our responsibilities underthose standards arefurtherdescTibed in the Auditor's responsibllltiesfor the audit
of the financial statements section of our report. We arè independent of the charity in actordan¢e with the
ethical requSrementS that are relevant to our audit of the financial 5tatÈments in the UK, including the FRC'5
Ethical Standard, and WÈ havè fulfilled our other ethical responsibilities in accordan￿ with these requirements.
We believe that the audit evidence we have obtsined Is sufficlent and appropriate to provi¢Je a basls for our
oplnlon.
Conclusion5 relatin8 to 80ing concem
In auditinB the financial statements, we have concluded that the trustee5' use of the goin8 ¢oncem basis of
accountin8 in the preparation of the financial 5tatefflents is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or
conditron5 that, indlvidually or collecbvely. may cast slgnlficant doubt on the tharity's abillty to continue a5 a
going concern fora period of at least twelve monthsfrom when the financial ststements are authorlsed for Issue.
Our rèsponsibilities and the responsibllities of the trustees with respett to going concern are described in the
relevant 5ection5 of thi5 report.
Other Informallon
ThÈtrustÈes are responsible for the other information contained within the annual report. The other information
¢omprises the Informatlon Included In the annual report. other than the financial statements and our auditor's
report thereon. Our opinion on the financial 5tstèmènts does not cover the other information and we do not
express any form of assuran￿ conclusion thereon.
Our responsibility is to read the other inforrnation and, in doing so, ￿nSIder whether the other information is
materially Inconslstent with the financial statements or our knowled8e obtsinèd in the audit or otherwise
appears to be materially misstated. If we idèntify such material inconsistencie5 or apparent materlal
mlsstatements, we are required to detemiine whether thi5 gives rlse to a material rnisstatement in the financial
statements themselves. If, based on the work we have performed, we ¢ondude that there is a material
misstatement of this other Informatlon, we are iequifed to report that fact.
We have nothing to report in this regard.

Matters on whith we are required to report by ex¢epdon
We havè nothing to report in respect of the following matters in relation to which the Charitles (Accounts and
Reports1 Regulations 2008 require u5 to report to you if, in our opinion:
thè information glven in thè financlal statements Is inconsistent in any materlal respect wlth the
trustees, report,. or
sufficient accounting records have not been kept,. or
the h"nancial statemènts are not in agreement with the accounting records and returns- or
we have not re￿IVed all the Information and explanation5 we require for our audlt
Responslbilities of trustees
As explalned more fully in the trustees, responsibilitie5 Statement set out on pase 4, the trustees are
re5pon5ible for the preparation of the financial statements and for being satisfied that they give a true and fair
view, and for su¢h internal Control as the trustees determine is necessary to enable the preparation of linanaal
statements that are free from material mi5Statement, whèther due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessSng the charity's ability to continue
as a going concern, disclosing, as applicable, rnatters related to golns Con￿rn and uslng the going concern
basis of accountlng unless the trustees either intend to liquidate the charity orto cease operations. or have no
realistic alternative but to do so.
Audltor's responslbllities for the audit of the financial statemènts
We have been appointed as auditor under section 144 of the Charities Act 2011 and report In accordance with
the Act and relevant regulation5 rnade or having effect thereunder.
Our obSethves are to obtaln reasonable assurance about whether the financial statement5 as a whole are free
from material misstatement. whether due to fraud or error. and to i55ue an auditor's report that includes our
oplnion. Reasonable assurance Is a hlgh level of assurance, but is not a Euarantee that an audit conducted in
accordan￿ with1SAs IUKI will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and a￿ considered material if, individually or in the a8Breg3te, they could reasonably be
expected to influence the economic decisions of user5 taken on the basis of these flnancial statements.
Irregularitie5, including fraud, are instances of non-cornpliance with laws and regulations. We design
procedures in line with our responsibilitres. outlined above, to detett material mlssratements In respect of
irre8ularities, including fraud. The extent to which our procedures are capable of detecting irre8ularitieS.
including fraud 15 detailed below-
A further description of our responsibilities for thè audit of the hnanclal statement5 Is located on ihe Financial
Reporknng Council's website at.. www.frc.or
.uk
auditorsre5
on5ibilities. This de%ripbon forms part of our
auditor'5 report.
Extent to whlch the audlt was consldered capable of detethn8 Irre8ulartdes, IndudSng fraud
Irregularitie5. including fraud, are instances of non-compliance wlth laws and re8ulations. We identified and
assessed the risks of material misstatement of the financial statements from irregularlties. whether due to fraud
or error. and discussed these between our audit team members. We then designed and performed audit
procedurès responsive to those risks, includinB obtaininE audit evidence sufficient and appropriate to providè a
basis for our opinion.

We obtsined an understanding of the legal and regulatory frameworks withln whlch the charity operates,
focusing on those law5 and regulations that have a direct effect on the determination of material amounts and
di5c105ures in the financial Statements. The law5 and iegulations we considered in thi5 context werethe Charities
Act 2011 together with the Charthes SORP IFRS 1021. We assessed the required compliance with these laws and
regulations as part of our audit procedures on the related financlal statement itèms.
In addition, we considered provision5 of other laws and regulations that do not have a direct effect on the
financlal statements but compliance wlth whlch might be fundamental to the charity's ability to operate or to
avoid a rnaterial penalty. Wè also considered the opportunities and In￿ntr¥es that may exlst withln the charltv
for fraud. The law5 and regulations we considered In this context for the LIK operdtions included General Dats
Protection Re8ulation IGDPRI.
Auditing standards Ilmlt the requlred audSt pro￿dUleS to identify non-¢omplSance with these laws and
regulations to enquiry of the Trustees and other management and inspection of regulatory and legal
corresponden￿. if anv.
We identified the greatest risk of material irnpact on the flnancial statements from irregularikne5, including fraud,
to be within the timing of recognition of income and the override of controls by management. Our audit
prO￿dureS to respond tothese risks induded enquirles of management and the Management Board about their
own identilication and assessment of the risks of irregularitie5, sarnple testing on the p05ting of journals.
reviewinÉ accounting esrimates for blases, sample testlng of incorne, reviewin8 regulatoiy correspondence, and
ading minutes of meetings of those charged wlth governance.
Owing to the inhèrent limitations of an audlt, there is an unavoidable risk that we may not have detected some
material mi5Statements in the financial statements, even thouBh we have properly planned and performed our
audit In accordance with auditing standards. For example, the further remove¢J non-compliance with laws and
regulatlons llrregularin.esl isfrom the events and transathons reflected in the tinancial Statemènts. the less Ilkely
the inherently limited procedures requirèd by audlting standards would identify it. In addl￿On, as wlth any audlt,
there remained a higher risk of non-detection of irregularities, asthese may involve collusion, forgery, intèntional
omissions. misrepresentations, or the override of internal controls. We are not responsible for preventing non-
compllance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our ￿pOrt
This report is made solely 10 the charity's trustees, as a body. In accordance with Part 4 of the Charitles
(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 au¢Jitor's rèport and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume ￿sponsIbl11ty to anyone other
than the charity and the charlty's trustees as a body. for our audit work, for this reporl, or for the opinions wè
have formed.
u.kj
Cn)we U.K. LLP
Statutory Auditor
London
Date: 21.03.2025
Cr(Me U.K. LLP 15 eli8ible for appointment as auditor of the charlty by vlrtue of its eligibility for appointment a5
auditor of a company under section 1212 of the Companle5 Act 2006.

THE MARK BENEVOLENT FUND
STATEMENT OF FINANCIAL AcllviTIES
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
Investmerfs..
Investment incon)e
Interest receivable
IB28,768
1,215,746
527.988
20￿90
549,532
12,734
Total
IA77,346
1,775,012
EXPENDITURE ON:
Raisin8 funds
Investment manaBement fees
Charltable artlvloes
Support cost5
Grants
87,767
514.756
1,386,233
443,455
1.137,497
Total
1,989.795
1668.719
OPERATING IDEFICIT) I SURPWS
{11i449)
109,293
Net Éains I110sses1 on investment assets
1.387.618
(1,694.140)
NET INCOME / IEXPENDITUREI
1,275.169
11,584,847J
MOVEMENT IN FUNDS
1,275,169
11,584,847)
FUND BALANCES
As at I September 2023
19566,677
21,151,524
FUND BALANCESCARRIED
FORWARD AT 31 AUGUST 2024
20,841,846
19,566,677
All of the above are represented by continuing operations.
There are no recognised gains and losses other than those shown above.
The notes on pages 11 to 16 lorm part of these financial statement5.

THE ￿RK BENEVOLENT FUND
BAL4NCE SHEET
31 AUGUST 2024
2024
2023
Notes
FIXED ASSErs
Tangible lixed assets
Investments
995ffi00
19,393,520
1,004,Q
17,610,840
20,389,120
18.614,840
CURRENT ASSETS
Debtor5
Cash at bank
450,156
307,617
261,996
982.067
757,773
1,244,063
CURRENT UABIUTIES
Creditors
305047
292,226
305A147
292,226
NETCURRENT ASSETS
452,726
951.837
TOTALASSEfs LESS CURRENT UABIUTIES
20,841146
19.566,677
REPRE5E14TED BY FUND5
Unrestricted
Designated fixed assets fund
General fund
995.6
19.846.246
I,CO4,(K
18 562,677
12
20.841A46
19,566.677
The firnahtial statements were approved bythe Trustees and authorised for issueon 4Eh February2025 and siBned
on their behalf by:
Ar
bald l. Torrance
Presidènt ol the Mark Benevolent Fund
The notes on pages 11 to 16 form part of these financial statements.

THE MARK BENEVOLENT FUND
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Cash flows from operallng actlvitles:
Net cash used by operdting activities
{807.3761
(412,667?
Cash flows from investlng actlvltle5:
Investment incorne
Proceeds from sale of investments
Purchase of investments
527.988
1882.843
13.277,SY151
549,532
2,992,695
f2,gCYI,315J
Net cash provlded by In￿n8 artlvltle5
132 926
641 912
Change In cash and ¢ash equivalents in the year
1674,4501
229,245
Cash and cash equlvalents brought forward
982
Cash and cash equlvalents carrled forv•Trrd
98
Recondliation of net lexpendlturelllncome to net cash
flow from operatln8 actlvrtles
2024
2023
Net lexpenditurel/income for the year las per Statement
of Financial Activitiesl
1,275,169
(1,584,847)
Adlu51ment for:
Investment income
IGainl/loss on investments
Depreciation of tangible fixed assets
Ilncreasel/decrea5e in debtor5
Increa5elldecreasel in creditors
1527.9881
11,387.6181
8.4(X)
{W,1601
12
(549,532J
1,694,140
8,400
{49,909J
Net cash used by operatlng actlvltles
807 376
Analysis of cash and cash equlvalents
2024
2023
Cash in hand
307.617
982,067
Total
982 067
10 IPage

THE MARK BENEVOLEDif FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
CHARifi INFORMATION
The Charity is a Public Benefit Entity registered as an unincorporated charity registered In England and
Wales Iregistration no. 2076101 and operates from its registèred office Mark Masons, Hall, 86 5t.
Jarnes'5 Street, London, SWIA IPL.
ACCOUNTING POLICIES
(al
Basls of A¢wuntlng
The financial statements havè been prepared in accordance with the Charities SORP IFRS1021
applicable to charitres preparing their accounts in accordance wlth the Financial Reporting Standard
applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted
Practice.
The financial ststements have been prepared to glve a 'true and fair" view and have departed from
the Charlties IAccounts and Reports) Regulations 2008 only to the extent required to provide a "true
and fair" view.
(bl
Donations
Donation5 received for a speeih"c year and deposited with The Mark Benevolent Fund are included In
the Statement of Financial Activities in the year of receipt.
Other donafjons. where the resolution to make a gift to The Mark Benèvolent Fund is uncertain, are
included In the Ststement of Financial Activlttes on a receipts basi5.
Gwts
Gifts received in the year are included in the Statement of Financial Activities at their market value on
the dale received.
Idl
Amortlsation of Leasehold Propertv
In accordance with the terms agreed with the Charity Commissioners, The Mark Benevolent Fund
invested £1,200,0Tr) in the acquisition and conversion of 86 St. James's Street, London SWI. The
orlginal lease was for 99 year5 from S January 1979. This has been subsequently renegotlated and a
new 125 year lease from April 2018 agreed. Thls has resulted In an increase in the char8e lor the
amorrfsaJon of the lease from £4,200 per annum to £8,400 with effect from September 2019. This
will continue to bè bornè by the General Fund of The Grand Lodge of Mark Master Masons.
The residual economic life of leasehold property is reviewed on a regular basis. The Trustees have
determined the position with regard to property depreciation as stated above. The Trustees are also
of the vlew that the carrying value of this asset is not impalred having assessed the Servi￿ deliverv
and will undertake fijture reviews in accordance with FRS 102.
Investments
Fixed asset investments are revalued to market value at the balance sheet date and the surplus or
deficit of this revaluation represents unreali5ed gains or losses.
The diffèrènces between the carrying value lor c05t if acquired in the year) and the proceed5 of
investments disposed of represent reallsed investment gains or105se5.
Net realised and unreali5ed gain5 or 1055es are shown as a combined ffigu￿ in the Ststement of
Financial Aciivities.
11 IPage

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POLICIES ICONTINUEDI
lfj Expendlture
Expenditure is accounted for under the accrua15 concept. The irrecoverable element of VAT is included
with the item of expense to which it relate5. Staff are employed by The Grand Lodge of Mark Master
Masons and relevant staff costs are recharged to The Mark 8enevolent Fund as part of the
administration fee.
Invèstment Income
Investment income is accounted for on an accruals ba51S.
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 baslc flnancial
instruments. Basic linancial instruments are initially reco8ni5ed at transaction value and subsequently
measured at amorkn5ed cost using the effe¢tlve Interest method. Financial assets held at amortised
St comprise cash and bank and in hand, together with trade debtors. accrued interest anil other
debtor5. Financial liabilitie5 hèld at amorhsed cost comprise grants payable and accruals.
Inve5trnents, including bonds held as part of an investment portfolio are held at frdir value at the
Balance Sheet date, with gains and105ses belng recogni5ed within incorne and expenditure.
Critical a¢¢ountin8Jud8ements and key sources of estlmatlon uncertalnty
In the application of the charity's accounting policies, Trustees are requlred to make judgements,
estimates, assumptions about the carryingvalues of assets and liabilitiès that are not Teadily apparent
from other sources. The estimates and underlying assumptlons are based on historical experience and
other factors that are considered to be rele￿nt. Actual results may differ from these e5titllate5.
The estimates and underlying assumptlons are reviewed on an on-going basls. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revlslon affects only that
period, or in the perlod of the revision and future period5 rfthe revision affects the current and future
periods.
In the view of the Trustees, no assumptions concerning the future or estirnation uncertalnty affecting
assets and liabilities at the balance sheet date are likèly to result in a material adjustment to thelr
carrying amounts in the next fin3n¢ial year.
12 1 Page

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POUCIES ICONTINUEDI
Golng con¢em
The Maik Benevolent Fund is governed by a board of twelve Trustees, which are all honorary posltlons
therefore there are no direct financial costs in the management of the Fund. The Charitie5 Manager
role and the financial control administration duties are provided by employees of the Grand Lodge of
Mark Master Masons.
Our planning processes take into consideratiOlI the current economic climate and its ongoing impart
on the various sources of Income and planned donation5. Fundraising is malnly provided by Mark
Master Masons who h05t, by rotation of each province in England and Wales, Mark Benevolènt Fund
Annual Festivals. The Annual Festival Result reflect5 the total funds ralsed over the course of the
festival period of around ten years. It is expecled that this approach will continue for the foresèeable
future.
Trustees conslder that there are sufficlent reserve5 held at 31 August 2024 to respond to any
foreseeable downturn in the UK economy. The Trustees consider that there is a reasonable
expectation that the charity has adequate resources to Con￿nUe In operational existence for the
foreseeable future and, for thi5 reason, the Trustees continue to adopt the going concern basis in
preparing the financial statemenis.
SUPPORT COSTS
2024
2023
Administration fee (note 111
General expenses
Rent pald (note 111
Bank thargès and insurance costs
Governance costs (note 51
Cost of jewe15
200,000
34.289
135,000
257
23.350
IzIAfjo
514,756
2Lu,rJoo
22,210
135,000
223
21,470
64,S52
443.455
All support Costs are applicable to grant rnaking which is the charity's only charitable activity.
GRANTS
Z024
2023
Grants to other charities
Grants to individuals
1372,013
14.220
1,092,427
45,070
1,386,233
1.137,497
The grants to other charitie5 in the year were-.
Leicestershlre County Scout Coun¢ll
The Meath Epilepsy Charity
Sallship Training & Learning
The Brainwave CentTe Ltd
Foreland Fleld Charity
Villa Real School AsSoda￿on
Southmead Hospital Charity
Haswell And District Mencap
Whitehaven Theatre of Youth
4,862
5.146
20.000
13.026
s￿00
57.029
18,654
26,215
10.000
13 |Page

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 AUGusf 2024
The Lovey Foundation IUKI
Childrèn's Heart Federation
Community Equality Disability Acknon ICEDAI
Kidney Cancer UK Ltd- In Memory Of R.W.8ro J Howitt
Dlabete5 UK- In Memory Of R.W.Bro J Howitt
Chads8rove Educational Trust
Holisfjc Cancer Centre
Raw Material Music and Media
Grand Appeal - Wallace & Gromit's Child Foundation
Douglas Macmillan H05pice
Shelterbox Trust Gaza
London Air Ambulance Charity
Parents Suppoth'ng Down Syndrome
Irene Taylor Trust
1349 Squadron IWokinÉl RAF Cadets
St Lukes Home of Healing South Africa
Lighthouse Community Hub
The North Northumberland Hospite
St Davids Hospice Care
Sense
Children's Saillng Trust
London Search & Rescue
Mayfield School
Princess Alice Hospice
Minestead Trust
Exmoor Search & Rescue Team
Slde By Side
Wild8oose Rural Trainin8
Ahead of the Game Foundation
Llncoln Ms Therapy
North West Air Ambulance
Aspire Oxfordshire
Helen Bamber Foundation
All Saints Church- Hessle
Sheffield Churches Councll for Communlty Care
4th Workington 51 Michael Scout Group
Farringdon Detached Youth & Comm Club
Alzheimer Cafe- low
Harrlet Daws Trust for Disabled Children
Heads Up Somerset Ltd
sp￿181 Olympic5 West Mid Ski
Marion Centre The Bishop of Uandaff High School
Inspectorate of Romanla- Ukralne Refugee Appeal
Association Priority for Humanity (Romartial
11.$81
6.771
5,000
5,000
10,000
16,984
20.078
100,805
7.184
50,000
loo.000
81,000
500
8AOO
7.797
30WO
27300
IA93
6,010
12.159
57MIO
4.270
28080
7,057
16,1
4.7
68.285
34.404
2,770
52,573
38.709
45,180
13,685
69.962
68,490
36,544
6,659
s￿63
14,982
31,346
50,000
33.500
1,372,013
1.092.427
14 | Page

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
GOVERNANCE COSTS
2024
2023
Auditor's remuneration
23,350
21,470
No Trustee re￿1Ve￿ any remuneration or reimbursement of expenses during the Current or previotssyear.
FIXED ASSETS
Leasehold
property
Cost
At 31 August 2024 and I September 20Z3
2024
1,200,000
Depreciation
At I September 2023
Charge for the year
196.000
8.400
At 31 Ay8ust 2024
Net Book Value
At 31 August 2024
995.6tXI
At31 August 2023
1,004,000
INVESTMEf4TS
2024
2023
Market valuè at I September 2023
Le55 = Di5P05al proceeds
Add . Acquisitions at cost
Net realised and unreallsed galns
17,610,840
12.882.843)
3.277,905
1.387,618
19,397,360
(2,992,695J
2,900,315
{1,694,140J
Market value at 31 August 2024
19.393,520
17,610,840
Historic cost
14,991,088
13,885,284
All Investments are Ilsted on a recognised stock exchange and managed In the UK by J M Finn & Co
Limited. The Investrnents at the year-end COrnPTised..
ixed interest
Equities
Other Ideposlt account balance)
2,643,279
16.749.228
1.013
19.393,520
1,752,713
15,868,144
(io oi/}
17,610.840
15 | Page

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2024
DEwfoRS
2024
2023
Prepayrnents
Other debtors
GLMMM Inote 111
181221
195,085
72￿50
450.156
163,417
42,102
261 996
CREDITORS
2024
2023
Income in advantè
Other creditors and accruals
249.010
56,037
305.047
250.545
292 226
TAXATION
The Mark Benevolent Fund is a registered charity and is able to take advantage of the exemptions from
tsx for charities on its income and investrnent 83in5.
ii.
RELATED PARTYTRA14SAcfiopJ5
Thè Fund is administered by The Grand Lodge of Mark Mastèr Masons IGLMMMI. The Fund pald
management fee of £200,￿0 in the year12023.' £200,000) to GLMMM to cover staff and administration
costs and charged rent of £nil12023: £nill to GLMMM. Due to changes in theterms ofthe Lease, GLMMM
now pays the rent direct to Crown Properties. Included in Donations and Legacies 15 an amount of
£135.00012023.' £135.0001 in respect of the rent paid directly on behalf of the Fund. A corresponding
expense 15 included within 5UPPQrt C95ts.
At the yearend GLMMM owed MBF £72.85012023'. GLMMM owed MBF £56,477) In ￿pert of these
transacbons.
12.
GENERAL FUND
The General Fund include5 cumulative donations to the Grand Master's Keystone Fund amotsnting to
£179,32512023: £11.5601.
16 | Page