Charity Registration Number: 207610 THE MARK BENEVOLENT FUND FINANCIAL STATEMENTS 31 AUGusf 2025
THE MARK BENEVOLENf FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGU5T2025 The Trustees present their report and the financial staternents for the year ended 31 August 2025. IEGAL AND ADMINISTRATIVE DETAILS The charity is The Grand Lod8e of Mark Master Ma50n5' Fund of Bènevolence and is registered at the Charity Commission under registration number 207610. The charity operates as The Mark Benevolent Fund. The ¢harlty's address Is 86 St James's Street, London SWIA IPL. TrUSTEES The Tmstees of The Mark Benevolent Fund who served during the year, and to the date of signing this report, were.. l N Clarf( W A Divall G Hutchinson K HScks R J Olliver D Powell R F Richardson Dr J Sheryington J ste88les (Retired 10 June 20251 D Thomas (Retlred 10 lune 20251 A l Torrance (Retired io June 20251 A Armbrister (Appointed 10 June 20251 Dr N Mehta (Appointed 10 June 20251 I Wolstencroft (Appointed 10 June 20251 Newly appointed Trustees receive a briefing from the President and Honorary Secretary, an Induction pa¢k from the Charities Manager and attend training days 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 Mastef Masons. There are three sub<ommittees to the Board of Trustees.. 11 The Petitions Committee provides relief to poor and distressed Mark Master Masons. theirwive5, widows and chlldren. Individual grants of up to £15.¢fjO may be made for help wlth general living expenses for a 12-month period, relief of debt if appropriate and one-off items suth as roof rèpèir5 and heating system replacement. Committee member5 carefully consider each application ¢irtulated by emall and independently report back to the Petitions Committee chairman who notifies the Committee's decision to the Charities Manager. The members of the Committee are G Hutchlnson Ichalmianl, W A DSvall, D Powell, Dr N Mehta and I Wolstencroft. The full Board of Tru5tee5 meets quarterly when all petition5 for relief are noted. 21 The Worthy Causes Committee awards grants to other Tegi5tered charities and worthy causes. Appllcation5 for assistance are received from registered charities and worthy causes, or from provinces on their behalf, by the Charities Manager. In cases where the tharity is seeking less than £50,000, the application is rir¢ulated bv emall to members of the Worthy Causes Commlttee by the Charities Manager. They carefully conslder the appllcation and send thelr vlews to the Chairman of the Worthy Causes Committee who notifies the Committee's decision to the Charities Manager, so that the charity can be informed. The membèrs of the Worthy Causes Committee are R RSchardson IChalrm3nl. D Hlll. R Olliver. A Armbrlster and DT J 5hervington. In cases where the charrty is seeking £50,IXJO oc more, thè appllcatlon Is clrculated by email to all members of the Board of Trustees for consideration. Each Trustee send5 hisviews tothe President of the Fund who notifies the decision to the Charities Manager. The full Board of Trustee5 meets quarterly when all applications are noted. 31 The Grènd Master's Keystone Fund IGMKF- a designated fund), founded In 2023 for the purpose of awardlng bursarie5 to encourage educational, vocational and sporting a¢hlevement, Is named after our Grand Master, HRH Prince Michael of Kent GCVO, in 8ratitude for over 40 years of service to Mark Masonry. Appllcants for a bursary may be the children, stepchildren, grandchildren, 5POU5e, widow, or other dependènt of a member or deceased member of an Order admlnistered from Mark Masons, Hall, or may be a member themselve5.
THE MARK BENEVOLEMf FUND TRU5TEES' REPORT (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 An Awards Panel considers all bursary applications. The membèrs of the Awards Panel are Drj Shervington Ichairl, D Hill, T Harvey (Deputy Chairl, M Christmas, M Winch and L Finch. A volunteer Bursary Scheme Coordinator has been appointed to provide administrative support to the Awards Panel. The sthernÈ opened for applications in July 2025. PRINCIPAL AOVISERS BANKERS Clydesdale Bank plc (Tradin8 as Virgin Moneyl 7 Gold street Northampton NNIIEN FUND MANAGERS JMFinn&CoLtd 4 Colernan Street London EC2R STA AUDITOR Crowe U.K. LLP 55 Ludgate Hlll London EC4M 7JW CoNSTU0N AND OBJEcrs The Mark Benevolent Fund is governed by both statute (Charitie5 Act) and the Constitutions and Re8ulatlons for the Goveinment of thè Order of Mark Master Masons dated 1955 and subsequent amendments. ThÈ objects of the charity are defined as follows. TheTrustees shall hold the Fund of Benevolen and its income upon trust to apply them subject to the provlslons of the Regulations for: such exclusively charitable purposes as may be determined from time to time by the Trustees. who in reachin8 that determlnation shall seek and consider the views of the Grand Lodge,. and the relief of need, hardship and ¢Jistiess among Mark Master Masons. thelr famllles or other dependant, andlor amongst retlred employee5 of The Grand Lodge in such manner as th shall from time to time determine. The Mark Benevolent Fund supported by contributions from Brethren, their Ladies, Lodges, Provlncès and Districts and these may take the form of donations, covenants, lega¢ies or bequests. The Trustees confirm that they have cornplied with the duty In section 17 of the Charitles Acl 2011 to have due regard to the guidan issued by the Charity Commission on public benefit. 21 ACTivrriES The Trustees have contlnued to revlew all petltlons for relief, all applications from re8lstered charities and worthy tausès and appllcationsfor bursarlès. Grants were made from The Mark Benevolent Fund to Mark Master Masons. their families. or other dependants and for specific purposes to other re8iStered charltles and worthy causes. In September2024. theTrustee5 of the Mark Benevolent annoUnd two malorcapltalBrants totsllin8 approximately £2.5 million over two-to three years to Wheelchalr Rugby aubs and Gre8t Brftaln National Wheelchalr Rugby Team, and Blood Bikes- England & Wales. The total 8rants made in the year under the trustees, grant-maklng pollcy lsee page 31 amounted to £2,758,958 12024.. £1,386,233) of which E552,11712024.' £nlll wa5 pald to Wheelchair Rugby Clubs and Great Britain National Wheelchair Rugby Team, £646,96012024'. £nill was paid to Blood Bikes - England & Wales, £L443.73912024: £1,372,013) was paid to 62 charities. £116.14212024'. £14,220) was paid to Mark Master Masons and other dependants in need, and GMKF bur5arles £nll12024: £nill. Subsequent to the year end, the Trustees have awarded the first bursarles under the GMKF. 2 IPage
THE MARK BENEVOLE FUND TRUSTEES, REPORT {coNfiNUED) FOR THE YEAR ENDED 31 AUGUST 2025 FUNDRAISING The rnajority of the ch3riVs income is from the members of the Grand Lodge of Mark Master Masons. The Mark Benevolent Fund ha5 not engaged with thlrd parties to raise funds and any direct approach to members of the publ1¢ for fundin8 has been limited. No complaints were recelved In relatlon to the Mark Benevolent Fund's fundraising activities. GRA MAKING POLICY Grants in response to petitlons for relief are rnade to Mark Master Mason5, Iheir farnllles or other dependents. andlor retlred employees of the Grand Lodge, provided that such grants are for the relief of need or distress. All grants awarded take account of a petitionerf5 financial circumstances and require approval by the Petitions Committee. Grants are also made for charitable purposes other than for the relief of need. All such grants awarded are subjert to approval by the mèmbèrs of the Worthy Causes Committee or the full Board of Tru5tee5. and are reported to Grand Lodge. GMKF bursarles may be the children, step¢hildren, grandChIldrt, Spouse, wldow, or other dependent of a memberordeceased rnember of an Order administered from Mark Masons. Hall, or may be a memberthemselves. The purpose of awardlng bursaries to encourage educational, vocational and Sporting athievemènt. All bursarie5 awarded are subject to approval by the members of the Awards Panel, and ale reported to the Trusiees on a ular basls. RESERVES POLICY The total reserves of the Fund amounted to £19.9 million12024: £20.8 mlllionl, comprising the MBF General fund of £18.5m12024.. £19.7ml, the GMKF la deslgnated fund within the General Fund) £0.5m12024 £0.2ml and the property fund El.Om12024 £1.Oml. During the year ended 31 August 2025, the trustees reviewed the reserves policy and agreed to maintain the reserve5 at a level sufficient to generate adequate Investment incorne to meet current fundlng requlrements. Thls will be reviewed annuallv. The majority of 8rant5 are paid to non m350nic charities with the balance pald in the main to the elderly. These take the form of either ordinary grants, emergency grants or annuity grants which may have to be maintalned lor, on average, between 12 and 15 years. It is the policy of the Tru5tee5 to ensure that the fund has adequate resefves to pay these grants each year. Funds are also retained as it is the practice to make major pital grants from time to time,. investments an¢J income must thèreforè be malntaSned to further this policy. GOING CONCER14 The Mark Benevolènt Fund Is governed by a board of twelve Trustees. which a all honorary positions therefore there are no direct financial costs in the governance tsf the Fund. The Charltlès Manager role and the financial control administration duties are provided by employees of the Grand Lodge of Ma¥k Master Masons. Our planningproce5sestake intoconsideratitsn thècurrènteconomlc climate and its ongoing impact on thevarious sources of income and planned donations. Fundraising 15 mainly provided by Mark Master Masons who host, by fotatlon of each provlnce In England and Wales, Mark Benevolent Fund Annual Festlvals.TheAnnual Festival Result reflect5 the total funds raised over the course of the festival perlod of around 10 years. It Is expected that thls approach will continue for the foreseeable future. Trustee5 consider that there are sufficient reserves held at 31 August 2025 to respond to any foreseeable downturn in the UK economy. The Tru5tee5 consider that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and. for thls 3$on, the Trustèes continue to adopt the goin8 concern basls In prepailng the financial statements. 3 |Page
THE MARK BENEVOLENT FUND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 INvESTMEp POWERS Investment powers are set out and operated wlthln the provisions of the Trustee Att 2cA and thè Trust Deed. The investments are overseen by the Investment Committee, with J M Finn & Co Limited appointed to manage the investments on a discretionary management ba515. INVESTMENT POLICY AND PERFORMANCE Thè Investmènt portfolio is managed byjm Finn & Co Ltd under their Discretionary Portfolio Management Service. Our Investment Obje¢tive is to seek a combined return from income and capital growth. A medium rlsk portfolio wlth no specified minimum of low risk investments has been selectèd. There are currently no investrnent restrlctlonslspetial Instructions glven to JM Finn & Co Ltd. The aim In the Trust Deed 15 to quickly provide grants in relief of need or distress for Mark Master Masons and their dependants, to SUPPOrt other registered charities and worthy causes and from tlme to tirne to award major capitslgrants to worthy causes. The sources of income forthe Fund include donatlonsfrom rnembers, fund5 raised from annual festlvalsi glfts left in wllls/le8acies and any investment income lincludinB capltal growth). The Investment Committee of which the President lor other designated Trustee) of the Mark Benevolent Fund is member mèets quarterly to review investment portfolio funds. RISK POUCY The Trustees have reviewed their procedure5 to identlfy and examine the malor strategic. business and operational rlsks that the charity fa5. The ne$sary 5VStems are e5tabli5hed to enable reports to be produced to ensure that action is taken to manage the effects of the identified risks. Below is a Summary of the major risks faced and poli¢ies tc) miligate these. Rlsk Loss of Key Staff Disaster recovèry Steps to mitl8ate risk Succession plannin& document systems, agree notice perfods and handovers Agree IT recovery plan, implement data back-up, review insurance, create disaster recovery plan Review & agrèe pollcy, obtaln advlce & managemenL implement reserves pollcy, regular performance monitoring Communicate with 5UPPOrters & beneficiarie5, good quality reporting of activities & flnanclal sltuatlon. support for worthy causes Review & agree compliances procedures. allocatlon of staff responslbllltles Investment Policies Public Perception Regulatory reporting TRVSTEES, RESPONSIBILMES The Trustees are responslble for preparing the Trustees, Report and the financial ststements In accordance wlth applicable law and regulations. Charity law rèquires the Trusteesto ppa financial statements for each financial year In accordance wlth Unlted Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applitable law. Under charity law the Trustees must not approve the finoncihl statements unless they are satisfied that they 8ive a true and fair view of the state of affairs of the charity and of its net incomlndoutgolng resources forthat period. In preparlng these financlal statements. the Trustees are required to: select suitable accounting pollcles and then appW them conslstentlvi observe the methods and principles in the Charlties SORP- makeludgments and estimate5 that are reasonable and prudent,. prepare the flnancial statements on the going concern basis unles5 It Is inapproprlate to presume that the charity will Continue to operate. The Trustees are responslble for keeplng adequate accounting records that are Sufficient to show and explaln the charitV5 transactions and dlsclosè wlth reasonable accuracy at any time the flnancial positlon of the tharity and enable them to ensure that the financlal statements comply wlth the Charities Act 2011, thè Charlty (Accounts and Reports) Regulation5 2(X18, thÈCon%titutlons and Regulatlons of the Grand Lodgeof Mark Master Masons and
THE MARK BENEVOLENT FUND TRuEES, REPORT (cor+INuED) FOR THE YEAR ENDED 31 AIJGusf 2025 the pro¥lslot)s of the charWsTrust Deed. Thtyare a150 responsible for 5#1eguaTdin8the assets Df the charlty and fortaking reasonable steps forthe prevention ènd detertion tsf fraud and otherlrre8ularitles. AUDITOA Crowe U.L has Indkated tswllllngne55 to be reappotnted a5 statutory audltor. Approved bythe Tru5tee5 IO. February2026 and on thelr behawty: N Clark President of the Mark Bene¥otsnt Fund S IPage
Independent Auditorfs Report to thelrustees of the Mark Benevolent Fund OpinSon We have audited the financbal Statements of the Mark Benevolent Fund for the year en(Jed 31 August 2025 which comprise Statement of Financial Activities, the Balance Sheet. the Cash Flow Statement and notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard appllcable In the UK and Republic of Ireland Iunited Klngdom Generally Accepted Accounting Prarticel. In our opinion the financial statements.. glve a true and falr view of the state of the charitVs affairs as at 31 August 2025 and of its incoming resources and application of resources. including its income and expenditure fof the year then ended- have been properly prepared in accordance with United Kingdom Genèrally Accepted Accounting Practice,. and have been prepared in accordance wlth the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit In accordance wlth International Standards on Auditing IUKI11SAs IUKII and applicable law. Our responsibilities under those standards are fvrther dèsciibed In the Auditor's responsibilities forthe audit of the financS3l statements section of our report. We are independent of the charity in accordance with the ethical requlrements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirement5. We believe that the audit evidence we have obtained 15 sufficient and approprlate to provide a basis for our opinion. Condusiorts relatingto zoinz concern In auditin8 the financial 5tatement5, we have roncluded that the trustees, use of the goin8 Ctsrttern basis of accounting in the preparation of the financial statements is appropriate. B35ed on the work we have performed. we have not Identlfied any material uncertainties relatin8 to events or ¢ondit10115 that, individually orcollectively, may cast significant doubt on the charity's ability to continue as a Boing concern for a period of at least twefve months from when the financial statements are author15ed for issue. Our responsibilities and the responsibilities of the trustees with resped to going concern are described in the relevant 5edion5 of thi5 report. Other Informatlon The trustees are responslble for the other Informallon contalned within the annual report. The othèr information comprises the information included in the annual rèport, other than the financial ststernents and our auditorfs report thereon. Our opinion on the financial statements does not Cover the other Information and we do not express any form of assurance concluslon thereon. Our responsibility is to read the other information and, in doin8 50, Consider whethèr the other infom)ation is mèterially inconslstent with the financlal ststements or our knowledge obtalned in the audit or otherwise appears to be materially misstated. If we identify Such material inconsistencies or apparent material mlsstatements, we are required to determine whether this gives rise to a material misstatement In the flnancial statements thernselve5. If, based on the work we have performed, we conclude that there is a material misstatement of this other Informatlon. we are requlred to report that fact. We have nothin8 to report in this re8ard. Matters on whlch we are requlred to report by exceptlon We have nothlng to report In respect of the following matters In relatlon to which the Charities IAccounts and Report51 Regulations 2CQ8 require u5 to report to you if, in our oplnlon: the informatlon given In the financlal statements15 Incon515tent in any material respect wlth the trustees, report,. or
sufficient accounting records have not been kept: or the finan¢lal statements are not In agreement wlth the accounting record5 and returns,- or we have not recewed all the information and explanatlon5 we requlre for our audit Respon55bllltSe5 of iru5tee5 As explained more fully in the trustee5' fe5ponsibilitie5 Statement set out on page 4, the trustees are responsible for the prèparation of the financial statements and for being satisfied that they glve a true and fair view. and for such internal control as the tru5tee5 determine 15 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 charitls ability to ¢ontinue a5 a going contèrn, disdosln& as applicable. matters related to going conom and using the going concern basis of accounting unle55 the trustees either intend to IlquSd3te the charity or to cease operatlOn5, or have no realistic alternative but to do $0. Audltorfs responslbllltles for the audit of the financial statÈmÈnts We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations ma(le or havlng effect thereunder. Oui objectives are to obtain feasonable assurance about whether the financial statements as a whole are free from material misstaternent, whether due to fraud or error, and to issue an auditorf5 report that Includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accorilance wlth ISAS IUKI will always detect a materlal misstatement when it exists. Misstatements can arise from fraud or error and are consldÈred material if. individually or in the aggregate, they ¢ould reasonably be expetted to influence the economic declslons of users taken on the basis of these financial statements. Irregularities. including fraud. are instances of non-compliance with laws and regulatlort5. We de51gn procedures in line with our responsibilltlès, outlined above, to detect material rni55tatÈmènts In respect of irregularities, including fraud. The extent to whl¢h our procedures are capable of deteCtIr irre8ularities. indudingfraud is detailed below: A further description of our responsibilities for the audit of the finanelal statements is located on the Financlal Reporting Council's website at.. www.frc.or orsr onsibllities. Thi5 dÈscriptlon forms part of our auditorfs ieport. Ejrtent to which ihe audlt was ¢onsldered capable of deteLt5ng Irregularlties, Indudlng fraud Irregularities, includin8 fraud, are instantÈs of non-compliance with laws and regulations. We identSfled and assessed the rlsks of rnaterial misstatement of the financial staternents from Srregularitie5, whether due to fraud or error, and dlscu55ed these between our audit team members. We then deslgned and performed audit procedures responslve to those rlsks, Includlng obtalning audit eviden 5ufflaent and appropriate to provide a basis for our opinion. We obtained an understandlng of the legal and regulatory frameworks within which the charlty operates, focusing on those laws and regulation5 that have a dlrert effect on the determlnatlon of materlal amounts and dlsclosures in the financlal statements. The laws and regulations we considered in thi% context were the Charitie5 Act 2011 together with the Charitie5 SORP (FR5 1021. We assessed the required compliance with these laws and regulations as part of our audlt procedures on the related financial statement Items. In addition. we considered provisions of other laws and regulationsthat do not have a direct effert on the flnancial Statements but compliance with which rni8ht be fundamental to the charity's ability to operate or to avoid a materlal penalty. We also considered the opportunlties and incentives that may exlst wlthln the charity for fraud. The laws and regulatlons we consldereil In thls context for the UK operations Included General Data Protectlon Regulation IGDPRI. Audltingstandards limit the required audlt procedure5 to identify non-compllance wlth these laws and re8ulations to enqulry of the Trustees and other management and inspectlon of regulatory and legal Correspondence. if any. 7 | Page
We identified the greatest risk of material impact on the financial statements from irregularities, includin8 fraud, to be withln thè tlmlng of recognition of Income and the override of controls by management. Our audit piocedLrre5 to re5porhd to these ri5k5 included enquirie5 of rnanagement and the Management Board about their own identification and a55essment of the risks of irre8ularltie5, sample testingon the posting ofjournals, reviewing accountln8 estimate5 for biases, sample testing of income, revlewfjng regulatory correspondence. and reading minutes of meetings of those charged with governance. Owing to the inherent Ilmitations of an audlt, there is an unavoidable risk that we may nol have detected some material misstatements in the financial statements, even though we have property planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations lirregularitie51 15 from the events and transaction5 refiected in the financial statements. the less likely the inherently limited procedure5 required by auditing standards would identify it. In additlon, as wlth any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, Intentional omis5ion5, misrepresentations, or the oveiride of internal controls. We are not responsible for prèventing non- complSance and cannot be experted to detect non<ompllance wlth all laws and re8ulation5. Use of our report This report is made solely to the thariV5 trustees, as a bgdy, in accordance with Part 4 of the Charities IAccour)ts and Reports) Regulatlons 2CN)8. Our audit work has been undertaken $0 that we mlght state to the charitls trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permltted by law, wè do not accept or assume responsibility to anyone other than the charity and the charitls trustee5 35 a body, for our audit work, for this report, or for the opinSons we have formed. CACIE I(.k. LP Crowe U.L LLP Statutory Auditor london Date.. 20.04.2026 Crowe U.K. LLP is eligible for appointment as auditor of the ¢harlty by virtue of Its eliBiblllty for appointment as auditor of a company under 5ectlon 1212 of the Companies Act 2006. 8 | Page
THE MARK BENEVOLENT FUND STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 AUGUST 2025 Restt7ted 2024 2025 Notes INCOME AND ENDOWMENTS FROM: Donations and legacles GMKF donations 1,271,906 376,830 1,098,632 230.136 Investments.. Investment income Interest receivable 583.314 5,2SO 527,988 20,590 Total 2337.300 1,877.346 EXPENDITURE ON: RaSslng funds Invèstmènt management fees MBF jewels and collarettes costs GMKF Jewels costs Charltable artlvliles Support costs Grant5 89,632 54,493 81,252 88.8L16 57,309 64,551 438,949 2,758,958 392,896 1.386.233 Total 3023,284 1.989,795 OPERATING {DEFICIT) 11,185,984) {112,449) Net gains on investment assets 258A81 £387,618 N{ExPENDUREj I INCOME 1927.5031 1,275,169 NET MOVEMENTIN FUNDS 1927,5031 £275,169 FUND BALANCES A5 at 15eptember 2024 20.841.846 19,566,677 FUND BALANCES CARRIED FORWARDAT 31 AUGUST 2025 19,914,343 20,841,846 All of the above are represented by continuing operations. There arè no reco8nised gains and losses other than those shown above. The notes on page5 12 to 19 form part of these financial statements.
THE MARK BENEVOLENT FUND BALANCE SHE 31 AUGUST 2025 2025 2024 NDte5 XEDASSETS Tarelble flxed assets Investments 987.200 18,56l369 995,600 19,393,520 19,549.569 20.389.120 CURRENT ASSETS Debtors Cash at bank 494.455 167369 450.156 307,617 66L824 757,773 CURREMT uABILIES Creditors 297.050 305.047 NETCUftRENT ASSETS 964,774 45Z726 TOTALASSETS LESS CUARENT UAÈILITIES 19.914343 20.841.846 REPRESENTED BY FUNDS Unr*strftt•d Oeslgfiated fixed assets fund G•Mral fund 987.ZUQ 18.927.143 995,6 19,846.246 12 19.914,343 20,841,846 The financial 5tatetnentswereapproved bytheTru5te2s andauthorlsed forlssueon 10 Febru3ry2026 and slgned OTh thelr behalf by.. lan N Cla Pre5&1ent of the Mark Benevolent Fund The noteson pxe$ 12ts 19 forni pwl ofthese finarKIBI statements.
THE MARK BENEVOLENT FUND CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Notes Cash flows from operatin8 artivities: Net tssh used by operating attivities 11,813,194) 1807.376} Cash flows from invesiin8 a¢tivities: Investment income 583,314 5,536,151 140465191 527,988 2,882,843 (3,277.905} Proceeds from Sale of Investments Purchase of Investments Net cash provlded by InvestSng adlvftles 1672 946 132 926 Change in cash and cash equlvalents In the year 11402481 1674,450) Cash and cash equivalents brought forward Cash and cash equlvalents carrled forward 307617 Recondllatlon of net lexpendlture)nncome to net cash flow from operatlng actlvltSes 2025 2024 Net lexpendlturellincome for the year las per Statement of Financial Activitiesl {927,5031 1.275,169 Adlustment for. Investment intome Net (Èainl on investrnents Depreciation of tangible fixed assets Ilncreasel in debtors IDecreaselfincrease in creditors {5833141 12580811 (527.988) {1,387,618J 144,2991 (188,160) Net cash used by¢peratlnx a¢tlvltles Analy515 01 cash and 5h equfvalents 2025 2024 Cash In hand 67
THE MARK BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 CHARITY INFORMATION The Charity 15 a Public Benefit Entity reglstered as an unlncorporated charity registered in En8land and Walès Iregistration no. 2076101 and opèrates from its registered offiee Mark Masons, Hall. 86 St. Jarne5's Street, London, SWIA IPL. ACCOUNTING POLICIE5 Basis of Accountlng The finan¢lal statements have been prepared in accordance with the Charities SORP IFRS1021 applicable to charities Preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Art 2011 and UK Gènerally Accepted Practice. The financlal statements have been prepared to glve a -true and falrf vlew and have departed from the Charitie5 IAccounts and Reportsl Regulations 2008 only to the extent required to provide a "true and fairf view. Donations Donation5 received for a specSfic year and deposlted with The Maik Benevolent Fund are Included In the Statement of Flnancial Actlvlties in the year of receipt. other donations, where the re501ution to make a gift to The Mark Benevolent Fund is uncertain, are included In the Statement of Financial Activities on a receipts basis. Glfts Gifts received in the year are included in the Statement of Financial Activities at their market value on the date received. {d) Amortlsatlon of Leasehold Property In accordance with the terms agreed with the Charity Cornmissioners, The Mark Benevolent Fund investèd £1,200,000 in the acquisition and conversion of 865t.Jame5'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 Aprll 2018 agreeil. This has resulted in an increase In the charge for the amortisation of the leasè from £4,200 per annum to £8,400 with effect from September 2019. This will contlnue to be borne by the General Fund of The Grand Lodge of Mark Master Ma50n5. The residual economlc life of leasehold property is revlewed on a regular basls. The Trustees have determined the position with regard to property depreciation as stated above. The Trustees are 8150 of the view that the tarrying value of this asset is not irnpaired having assessed the service dellvery and will undertake future reviews in accordance with FRS 102. Investmenis Fixed asset Investments are revalued to marketV31ue Btthe balancesheet date and the5urplusordeficit of this revaluation represents unfeallsed galns or lossès. The differences between the carrylnE value lor cost If acqulred In the yearl and the proceeds of investments dlsposed of represent realised investment 8ain5 or105ses. Net reali5ed and unreallsed Balns or losses are shown as a combined fi8ure in the Statement of Flnan¢ial Artivities. 12 | Pa8e
THE MARK BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES ICONTINUEDI Expendlture Expenditure is accounted for under the accruals concept. The irrecoverable element of VAT is included with the item of expense to which it relates. Staff are employed by The Grand Lodge of Mark Master Masons and relevant staff costs are recharged to The Mark Benevolent Fund as part of the administration fee. 18] Investment Income Investment income is accounted for on an a¢cruals basls. Ihl Go¥emance Costs Governance costs relateto the Statutory running of the charity and are borne by the MBF General fund Finan¢ial Instruments The charity has financial assets and financial liabilltles of a kind that quallfy as basic financlal instruments. Basic financial Snstrurnents are Inltially recogniged at transaction value and subsequently measured at amortised cost Using the effective interest method. Financial assets held at amortised cost comprise cash and bank and in hand, together with trade debtors, accrued interest and other debtors. Financial liabllitie5 held at amortised cost comprise grants payable and accruals. Investments, including bond5 held a5 part of an investment portfolio are held atfairvalue at the Balance Sheet date, with gain5 and losses being recognised wlthln income and expendSture. Critkal a¢¢ountinglud#ements and key sources of estlmatlon uncertalnty In the appllcatlon of the chariVs accounting policies, Trustees are required to make judgements, estimate5, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. Thè estimates and underlying a55umptions are based on historical èxperlente and other factors that are considered to be relevant. Actual results may differ from these estimates. The e5tirnate5 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 affects only that period. or in the period of the revision and futurè periods if the rwision affects the current and future perlods. ui In the view of the Trustees. no assumptlons concerning the fijture or estimation uncertainty affectlng assets and Ilablllties at the balan¢e sheet date are likely to result in a materlal adjustment to their carrying amounts in the nèxt finantial year. 13 | Page
THE MARK BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (COhrriNUED) FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES ICONTINUEDI Golng COnM The Mark 8enevDlent Fund Is governed by a board of twelve Trustees. which are all honorary positions therefore there are no direct financial costs in the management of the Fund. The Charities Manager role and the financial control admSnlstratlon dutles are provlded by employees of the Grand Lodge of Mark Master Masons. Our planning processes take into consideration the current economic climate and its ongoin8 impact on the various sources of income and planned donations. Fundraising is mainly provided by Mark Master Ma50n5 who host, by rotation of each province in England and Wales, Mark Benevolent Fund Annual Festivals. The Annual Festival Result reflects the total funds raised over the course of the festwal period of around ten year5. It 15 expected that this approach will continue for the foreseeable future. Trustees consider that there are sufficient reserves held at 31 August 2025 to respond to any foreseeable downturn in the UK economy. TheTrustees consider that there is a reasonable expettation that the charity has adequate resource5 to continue in operational existen for the foreseeable future and, for thls reason, the Trustees continue lo adopt the 80in8 concern basis in preparing the financlal statements. Restoted 2024 SUPPORT cosrs 2025 Admlnlstration fee (note 111 General expenses Ront paid (note 111 Bank charges and Insuran costs Governance costs Inote 51 200,000 4Y.121 172.0(Kl 344 23.484 34,289 135,1 257 23.350 438.949 392.896 All support costs are appllcable to grant making which is the charity'5 only charitable activity. The fixed asset depreciation which r@lates to the designated property fund. GRANTS 2025 2024 Grants to other charltles Major capital grant to support Wheelchair Rugby Clubs and Great Britsin National Wheelchair Rugby Team Major capital grant to support Blood Blkes- England & Wale5 Grants to indlviduals Bursaries awarded under GMKF 1.443.739 L372,013 551117 646.960 116,142 14.220 2,758,958 1,386,233 The grants to other charitie5 In the year were: North Kelsey Communlty Shop Ltd Bridgewater School Association Lakelands Hospice Herefordshire Rldlng for Disabled No.176 Hove Squadrcln ATC 1st Nanpantan Scouts Group Children's Heart Unlt Fund 794 49,287 44.583 21AIO S.422 21.007 103.035 14 IPage
THE MARK BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 PCREFURB 15,150 ioxhjo 63.180 6,124 25 Mlnstead Trust Ego Performance Company Ltd Gen Synergy Flood Rellef - Mark Dlstrlct of Spaln Great North Alr Ambulan Service The Booth Centre Ilkley Community Transport Stable Family Home Trust Incredible Design Company The Furzedown Project Roald Dahl's Marvellous Children's Charily Friends of Flve Acre Wood and Grow 19 63326 35376 30000 36.750 15000 35mO 24,984 37M12 13.198 37,552 11,604 Nice- Centrè for Movement Disorders Haven Domestic Abuse Service Lincoln & Lindsey Blind Society Rowan5 Hospice Derby Phoenix Swlmmlng Club The Special Lioness Wyeplay Parents & Friends of Moreton Day Service Scarborough & Ryedale Mountain Rescue Get Set Girls 4,903 23.996 5,000 51.fy)6 6350 4A43 35.828 4A25 22.234 s.sso 5.105 12,360 9,075 58,209 923 The Royal Orthopaedlc Hospltal YounB & Inspired South W3rwickshire NHS Found PCC of St James Fletchamstead Good Vlbratlons Music Ltd 1st Albrighton Stout Group Teen Artion Priory Park Amateur Boxing Club Beeston Communlty Resour Maryport & Soloway Unit 541 of the Sea Cadet Corps Gympanzee5 National Coashvatch Institute Oak Tree Farm Rural Projects 24.IKIO 16,623 IA57 9,970 St Au5tell Rugby Football Club 30,500 Essex Voluntary Blood Servlce Buildin8 Self Bellef CIO Cotswold Frlends 23.045 11,295 25,000 15 | Page
THE MARK BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Tamworth Table Tennls Club Dotsèt Search & Rescue Wings for Warriors Squadron 60 (Leek) Air Training Corps 1032 Yeovil Squadron Alr Force Cadets Hannlngfleld Sallability Project Bright Hori20ns Foundation for Children IUKI The Cavalier Centre 4,102 1,614 1,097 20,(KIO 25,0 17, 5,129 10,000 25,000 25,Th)0 22.961 11,471 7,522 23,012 76,000 The Garwood Foundatlon Scarborough Sea Cadets Yetverton Cornmunity Projects Wargrave Bowling Club Irene Taylor Trust Abbotts Bromley Sports Association Assoclatlon Priority for Humanity IRornania} IN43,739 1,372,013 The Major Capital Grant of £552,117 was distributed during the year to twenty-six clubs to help support The Wheelchair Rugby Clubs and G3t Britain National Wheelchair Rugby Team during the year. The grants help In improving acce%5 to the sport and preparing athletes for the 2028 Paralymplcs. Fundlng can be used for facility improvements, vehicle5 and kit. The Major Capital Grant of £646,960 was distributed to twenty-nine groups to help support the Blood Bike5 in England & Wales during the year. The grants can be used for capital expenditure such a5 motorbikes, other vehides, equipment and facility improvements. 16 | Page
THE MARK BENEVOLE FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 GOVERNANCE COSTS 2025 2024 Auditorfs remuneration 23.484 23,350 No Trustee received any remuneration or relmbursemènt of expenses durlng the current or previous year. FIXED ASSETS Leasehokl property 2025 1.200.000 At 31 Au8USt 2025 and I September 2024 Depreclation At I September 2024 Charge for the year 204,400 At 31 Au¥ust 2025 212.800 Net Book Value At 31 August 2025 987200 At31 August2024 995,600 INVEsfMENTS Z025 2024 Market value at I September 2024 Less = Di5POsal proceeds Add .. Acquisitions at cost Net realised and unreali5ed gain5 19393.520 15,536,151) 4046,519 258A81 17,610.840 f2,882.843) 3,277,905 1,387,618 Market value at 31 Au8USt 2025 18,562369 19,393.520 Hlstoric cost 14,233,712 14.991,058 All investments, othèr than tashl are listell on a re¢ognised stock exchange and managed in the UK by J M Finn & Co Limited. The investments at the yearond comprlsed: Fixed interest Equities Other (deposit account balan) 2.311.286 16,138.154 112,929 18,562,369 2.643,279 16.749.228 1,013 19,393,520 17 1 Page
THE MARK BENEVOLENT FUND NOTE5 TQ THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 DEBTORS 2025 2024 Prèpayrnents Other debtOTS GLMMM (note Ill 231.937 168,409 94,109 494A55 182.221 195.085 72.850 450.156 CREDITORS 2025 2024 Income in advance Other cre¢Jitors and ac£ruals 253A93 43.557 297,050 249.OID 56,037 305.047 10. TAXATK)N The Mark Benevolent Fund Is a re8lstered charlty and Is able to take advantage of the exemptions from tax for charitie5 on its income and investment gains. ii. RELATED PARTYTRANSACTIONS The Fund is administered by The Grand Lodge of Mark Master Masons IGLMMMI. The Fund paid a management fee of £200,CNJ) in the year12024.. £21JO,0001 to GLMMM to cover staff and administration costs and charged rent of £nil12024.' £nill to GLMMM. Due to change5 in the term5 of the Lease. GLMMM now pays the rent direct to Crown Properties. Included in Donations and Legacies is an amount of £172,000 12024: £135,CWI in respect of the rent paid directly on behalf of the Fund. A correspondlng expense is included wSthin support costs. GLMMM also b@ars the amortisation of the Leasehold Property. At the yearend GLMMM owed M8F £94,109 I2024- GLMMM owed MBF £72,850) in respect of these transaction5. 12. GENERALFUND The General Fund includes cumulative donation5, net of costs, to the Grand Master's Keystone Fund amounting to £472,72312024: £177.1451. Sumrnary offvnd movements: Fund name Balan at I September 2024 19,669,101 Income Expenditure Galns & losses Balance at 31 Au8USt 2025 General Fund GMKF Total fund5 1,860,470 3.333,632 258.481 18,454.420 177,145 19046,246 376,830 2,237,3 81,252 3A14 472,723 18,927.143 258,481 18 IPage
THE MARK BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Balance al I September 2023 18,551,117 Income Expenditure Gains & losses Balance at 31 August 2024 19,669,101 General Fund GMKF Total funds 1,647,210 1,916,844 1,387,618 11.560 18,562,677 230.136 1,877,346 64.551 1,981,395 177.145 19,846,246 1,387,618 Summary of assetslllabllliles by fund 31 August 2025 General Fund 31 August 2024 General GMKF Fund 19,393,520 450,156 130.472 GMKF Total Total Investments Debtors Cash at bank Creditors Total n assets 18.262.369 450,025 39,076 3C(J.000 44,430 128,293 18.562.369 494,455 167,369 19,393.S20 450,156 307,617 177,145 297,050 18A54N20 297,050 18.927.143 305,047 l9.669,101 305,047 19,846.246 471723 177,145 19 | Page