CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, annual report (including Directors. report) for the period From:1 January 2024 Period start date To: 31 # December 2024 Period end date Charity name: MASONIC BENEVOLENT FUND OF SOUTH WALES Charity registration number. 208514 Company number: Objectives and activities SORP reference P•ra 1 17 Summary of the purposes of the charity as sel in rts govemirwJ dO￿rnent To provide for education and advancement in lrfe of children of distressed or deceased freemasons; to benefit widows of the same, and to provide to old, infirm and distressed freemasons of the Masonic Province of South Wales. In addition. a sum not exceeding one half of the investment income shown in the previous yearfs account to be dispersed at the discretion of the ExKutive Committee to non-Masoni¢ Registered Charities. either based wÉthin, or operating within the province of South Wales. Confirnied - as above. Summary of the main activities in relalion lo those purposes for the public benefit, in particular. the activities, projects or services idenlrfied in the accounts. Para 1 17and 1.19 Statement ¢xnfirming whether the trustees have had regard to Ihe guidance issued by the Chanty Commission on wblic benefit Para 1 18 Additional inforniation (optionall You ma choose to indude further ststements wthe￿ relevant about.. SORP referen¢e Policy on grant mth'ng Para 1.38 Policy on social investrnent induding program related investment Para 1 38 Contribution made by volunteers Para 1 38 Other Achievements and performance The Charity has met all qualifying requests for its assistance from properly identified Masonic beneficiaries throughout the Province of South Wales. In addition, a number of non-masonic worthwhile registered charTties within South Wales have been donated to after proper enquiry. Sumrnary of the main achievements of the chanty, identrfying the difference the charity's work has made to the cirCumstan￿S of its beneficianes and any wider benefits to society as a whole. Para 120 Additional tnfonnation (optional) You ma choose to include further stalements vthere relevant about" Achievements against objectives set Pafa 1 41 perf0mian￿ of fundraising activikn.es against objectives set Para 141 Investment perfornance against objectives Para 1.41 Other Financial review Review of the tharity's financial posits'on at the end of the period Para 121 Of the total distributable reserves at the 31° December 2024 of £3,198,145. the reserrfes policy would require £2,551,822 to be set aside. Masonic fundraising projects are ongoing in the years ahead , and it is the Trustees policy to retain the surplus to contribute to these projects such sums as they may agree are within the objects of the Cha The Trustees are mindful of possible market fluctuations in the value of quoted investments and it is their policy to reserrfe 25% of the marf(et value as a Contingency reseple. This would amount to £613,327 in December 2024. The Trustee5 a150 consider that income could fluctuate and Ft 15 their policy to resep4e an amount equal to one yeaVs ssible rants of £11J),(KlO. Siatemenl explaining the policy for holding ￿serveS stats.ng vthy they are held Par8 1.22 Amount of reserves held Para 122 Reasons for hotding zero reserves Details of fund matenally in deficit Para 1.22 Para 124 Explanation of any unortainlies about the charity continuing as a going con￿rn Para 1 TJ Additional infonnation (optional) You ma choose to include fvrther statements Vkn￿re relevant a￿ut.. The source of the capital of the fund was sum of £850.000 raised by the Brethren of the Province in 1992 to enable it to meet the demands on funds as set out in its Bye-Laws. It is policy that the sum as adjusted for innation. should rep￿sent the core funds of the Chaiity and should be used to produce income towards the distributions required by beneficiaries. After allowance for infiation this would amount to £1.838.495 in December 2024. P￿147 The charity's prinopal sources of funds {including any fundraising) Investment policy and objectives including any social investment policy adopted Para 1.46 As in parns. 1.47,1.211.21. The only risk factor that the Trustees consider applicable to the Charity is a fall in investment values. This is guarded against by a prudent fEserves policy and the adoption of a low risk approach to investments. A description of the prinapal risks facing the charity Pala 1 46 Other NONE Structure, governance and management Descnption of chartty's trusts.. Type of goveming dwment.. for example, Para 125 ' Constitution How Is the c*)anty constituted? Para 125 Trust Trustee selection methods including details of any constiluts.onal provisions e.g. election to post or name of any person or body entilled to appoint one or more trustees Para 1 25 Annual Court of Governors Additional inforniation (optional) You ma choose to include furthef ststeffftnts VA￿re relevant about.. NONE Policies and Pro￿dureS adopted for the induthon and Iraining of trustees Pard 1 51 Day to day management is exercised by ' the Chaiman, Treasurer and Secretary subject to the directions of the Executlve Trustees. The charity's organisational Structu￿ and any wider ne￿rk with which the chanty works Para 1 $1 The Chaiity is closely allied to the Masonic Province of South Wales whose members are principal beneficiaries of the Charity. Relationship wlh any related parties Parn151 Other NONE Reference and administrative detsils Charit name Other name the chari uses Re islered chari number Charity's rinci l address MASONIC BENEVOLENT FUND OF SOUTH WALES 208514 5, GUILDFORD STREET, CARDIFF, CF10 2HL Narnes of the charity trustees Tmho manage the charity Dates acted rf not for whole Tru•t•v nary 01r￿e Irf anyl Name ol person lor t¥)dyl entitled toa int tru5t8e if an Andre4V L Gretton Granville Thomas Matyn A Ridge Patrick Path'son Chaiman Secretary Treasurer Trustee John Anthony WJohn Morns Steven Bickerton David A J Swain Paul S Haley Trustee Trustee Trustee trustee Trustee 10 12 13 14 15 16 17 18 19 20 Co orate trustees- names of the directors at th& date the r Dlrector namt rtwasa roved Name of trustees holding tFtle to property belonging to the ¢*anty Trustee n J Stuart Hancock Gherold Davies Dates acted if T￿t for THI￿e HoldinLTru5tee Holdin Trustee Funds held as custodian trustees on behalf of others Description of the assets held in this capacity NONE Name and objects of the charity on whose behaw the assets are held and how this NONE falls within the custodian charit Details of arrarydements for safe custody and segregabon of such assets from the than 's ovm assets . NONE Additional information (optionall Names and addresses of advisers {optional information) Type of Name Address adviser I INVESTMENT , RATHBONES , MANAGERS 10 QUEEN SQUARE. BRISTOLBS14NT Name of chief executive or names of senior staff members (optional inforniationl Exemptions from disclosure Reason for non-disdosure of ke rsonnel details Other o tional information Declarations The company ha$ taken advantage of small companies, exemption in preparing the report above. The trustees declare that they have approved the trustees, rnport (including directors, report) above. Signed on behalf of the charity's sldirecto Signature(s) Full namelsl Position {for example Secretary, Chair, etcl ANDREW LINDSAY GREThON MARTYN ALAN RIDGE CHAIRMAN TREASURER Date ¢6103124zf CHARITY COMM15510N FOR ENGlA￿) ANO WALES MASONIC BENEVOLENT FUNOOF SOUTH WALES 208514 Annual accounts for the riod Perw>J st•rt datrj 0110112024 To date 3111W2024 Section A Statement of financial activities Rtttrietèd Income fun Rvcommended ￿tegor1e$ by aetlvlty Unre•tricted Endowment Prfor year fvnd• Totsl fund8 lurt Incornlng {Not• 31 F01 F02 F03 F04 F05 In¢¢￿0 and •ndowm•nt• from: 70.093 70.093 72 897 Total Rè8ourca8 expond•d {Nots 61 S07 72.009 72,009 86 665 Expondfturn on: RaYdifvJ fvnds 38.025 20.073 452 58.550 38.025 20.073 452 58.550 49,911 19,947 376 70.234 sio $11 Totsl $12 Net Incom•ll•xpondllure} belorn Inve•tm•nt galnsl11￿8•8j S13 13.459 10.186 23,645 13,459 10,186 23,645 16,431 51,408 67.839 mve*mqr S14 Net Incomellgxpgndllurnl Extraord5nary itgms Transf•rs bgtwgen funds Oiher rncognls•d g•ln•l(los•￿}". S15 Sl6 si7 154.539 154,539 83.652 S19 Net movement In funds 178,184 178,184 151,491 Reconclllatlon of fvnds." Total bwjhl Total funds canlod fonva 3.019,961 3 198.145 3.019,961 3.198, 145 2.868.470 3.019.961 Section B Balance sheet R•stri¢tsd Un¥••trIC￿ Incom• Endowm•nt Totsl th1• fund• fund• Tot*1 la•t yoar Fixed assets Intangible assets Tangiblg auèts Heritsge o9$•ts Investments F01 F02 F03 F04 F05 (Note 151 {Note 141 {Not• 16) {Nots 171 Total Ilxed assets eos 3.044.913 3.044.913 2.708.932 2,706,932 Current assets stocks (Note 181 Debtor¥ (Nots 191 Investments (Notg 17.4) Cash at bank and In hand (Note 24) Total curnnf assets 12.750 12.750 56.878 268,542 325,420 Blo 157. Creditorn: amounts falllng due within one year (Note 20) 4.455 4.455 12,391 Net curpvnt asse￿(11&bIll1lesJ 812 313,029 Total assets less current Ilats'lldes B13 3,019,961 Credltors: amounts falllng due after one year (Note 201 Provisions for liabilities B14 815 Total net auets orll8bllhles Funds of the Charity Endowment funds (Note 27) Restrlcted Income funds (Nots 27) Unrestrictsd funds Revaluatlon reserrfe B16 3,198.145 3.198,145 3,019,961 B17 B18 819 3,198,145 3,198.145 3,019,961 Total funds .14 3,019,961 Signfjd by one or try$tees on t¢haff of all the trustees Date of approval ddlmml Print Name ANDREW L GREThON MARTYN A RIDGE u3 CC17a (Excell 2410¥2025 Section C Notes to the 3CCOkinls 2.1 RECONCILIATION WITH PREVIOUS GENEIIALLY ACCEPTED ACCOUNTING PRACTICE ofth• Tratur•ol•xh ¢h ce17• (Exc Seclion C Noies to I11È a¢¢ounts 2.2 INCOME Yes No Yes No rthd ty￿FRs Its2 S(HIPtyFRS 102 No Nl Gr•nts•nd dDnthM rfitern m&($ 10 10 S 12 FRS102 SORPI. Ye5 No Nla ¢>)ty tN* ¢cror(rn*t WIS 10 FRS 102 SORPI Yes Ye5 Yes Yes No Nia Yes Nla No Nia Yes Nla Yes ND NIA ts¢ll Nia theSOF Nl Yes e5 P4ts Y# Iw riMEikiihTifi#{5.10*>5 12 FRS102SCllPI ￿d￿e Ye5 w• 13 EXPENDITURE AND LIA81UTIES Yes p413 Nl Nla Yes •J 11 79. FftS1Q 2.4 ASSETS Yes Yes Yes e5 Ye5 t41 Ye5 ADDMONAL TO OA tMFFERENT FROII TKI8E A8OVE Section C 14ote5 to the accouiiis Iconti Nots3 Anal￿￿ ot I￿orn* An• Donatlon• 1.529 387 13.412 356 GrtA 387 General grants provxl•J by go¥emm8nVother chant88 MernbeF¥hip ¥ul)xnpbons arKI ¥w50rshps which are in sUbStsn￿ donabJr Don3t8d ooas. faalits5 and ser¥K85 Other Tot•1 1.916 1.916 13.763 Charbtsbkl Other To¢al Oth•rtr•dln9 Tolal Incom• Irom Intern81 inc4m¢ DNKJend Incor Rental and *asi 221 216 71.277 Inco￿ 1.404 72.897 Totsi 70.093 S8par•ts matsvl•l rtom of Incomo.. Totsl Other: conver8￿ of fvfids ￿10 ir*ryne Gain on dwsal of 8 tsngk* assethe￿j for ch$ Gain on dwsal ol a pfoJfamrne reLgkn1 Investrnent Royalks Irorn tt* expbtsb)n ¢1 Intsi*thtsl Other Toial TOTAL INCOIAE 72￿9 86.665 All Incom• In th• wlorymr unr•Bilb￿ •x¢•pi tr. (p￿*** provldq •nd ¥￿unI4 Wh•r• •ny •Ddowrr*ni fvnd * ¢tyMrt•d Into In¢•m• In lh• Wlthln th• Inc￿￿• Ii•mi •bM th• lolltywlty si•m• *rn mRt•rf•l'. (Phia￿ d￿l￿1h• n•tur•, arrwnt •nd •ny wl•r y•a¥am￿l￿Mi CC11• (Excd) Section C Notes to the accounts (conti Note 4 Anaty¥b of rg¢•lpts ol governmont grants Govornm•nt grant 1 Gov•mm•nt urnftt 2 Govemmtrnt grnnt 3 Total L••tyewr D￿cTI G0￿MMent grnnt 1 Government grant 2 G0￿mmert9￿nt 3 Totsi La#t Pleas•provld• d•t•lls of any unfvttlll•d condthons •nd oth•r contlngen¢le$ 8ttJ¢hlng lo grnnts thJthav• been r•cognts•dlft Inet>m& Thb Pl¢•se glve detslls of oth•rfonns of qovornm•ntasSiStanc• from whlch lh• ¢h•rtty IMS dlrBety b•n8fft8d. CC171 l&xull 02102r2025 Section C Notes to the accounts (conti Notss Donated goods, facililitt and services Thls y•ar Last ￿ar S8cond•d stsff Use of prop•rty Other Th1• year La•t Pl•a•• Pfovido d•tsll$ ¢1 th• accountSng pollcy for thfr recognltlon and ￿lUatiOn of donatod goods. faclllile• •nd s•r¥lu•. Pl•ase provlde d•tslls of any Unfulfill￿ ¢ondltlon$ and oth conting¢n¢1￿ •tt#chrng to resouT¢e* from don4t•d goods and s•r¥ico8 not rffognl8•d In Incom•. PloJw glvo d•tsll¥ of o￿T forms of i>th•r donat•d goods and s•rrfces not reeognls•d In tho accounts. •g eontribution of unpald volunt•a CC17alEtr￿l 02ffj2r2025 Soctioii C Note5 to the accounts Note 6 Analy¥i¥ of •xwnditur• Lastyoar fvrth Md1￿￿• on ral•ln fundA: InoJrred 5•ekThJ ¢JonabDn5 Incurr•d seokmg kgac Incurred 8eekry grants Operating membershp sthwn¢$ arn1 swal ￿tt?￿S Stsging fundra￿1n9 e¥ents F￿)ra￿￿9 agents OF4rating th8rty sho Operating 8 tr*Jing ￿rnpanY undertakirs nont•l •1• of •llo¢•tlon IDM¢rtbe mtthodl Govemance Other Total La•t yo•r Support co•t exam Rav4in lund* Activi Grand tot•1 888is ol allocation IDescflbe method) Govemance Other Total Please provlde deta115 ofthe accountin9 policy dopied for the •pportionm¢nt of ¢osts betw••ft •ctivities artdany esumatlon te¢hnlqu•s us¢d to calculate IheirapportionmenL CC170 (Excell OW02r2025 Sectioi) C Notes to the accounts Note 10 Dets•ls of cwtain itgm• of expendi￿rg 10.1 F￿5 for oxamlnatSon of th• accounts Please pn>vide drf•lls of the •mountp•ld lor •ny st•tutory ¢¥ttm•i scrnttny of accounts and other $ervl¢es prnvlded byyourlndependtnt ￿#MIn￿. If rtolhlnq W•3 paidplease V. In th• •ppnwrf•t• box{•s). Th1• y•ar La8t y•ar Inde￿nd•￿t •x*min•VI f AMuran¢o urvl¢M othor th•n •udlt or IndepnO•nt •Mmln•tlon Tax •dYlsory f••s othor le￿ (for examplg.. fin•n¢l•l ad¥l¢•, ¢¢n¥ult•ncy. accoufil•n¢y ¥•Thl¢n} p•ld to th• Ind•p•ndwrt ex•mlner CC178 (Excell 0210212025 Section C Notes to the accounts Icontl Note11 Paid employees P1th￿e complete this note if the Charity has any employees. 11.1 Staff Costs Thls year Last year Salarles and wages Soclal securfty costs Penslon costs (defined contrfbutlon scherne) Other employee beneftts Total staff costs Thls year: Please provlde details of expendlture on stsff worf(ing for the charity whose contracts are with and are paid by a related party Last year.. Please provlde details of expendlture on Staff Wofklng for the Gharlty whose contracts aro wlth and aro pald by a r•lat•d party Please glve detalls of the number of employees whose total employee benefits (excluding employer pension ¢osts) fell within each band of £I0.OL￿ from £60.iAW upwards. M there are no such transadions, please enter Yrue, in the box provided. No employees recelved employee beneffts lexcludlng employer penslon costs) for the reportlng perlod of more than £60,000 Band Number of em Thls yoar Last year £60.000 to £69.999 £70.000 to £79,999 £80,000 to £89,999 £90,000 to £99,999 £100,000 to £109,999 Thls ear Last Please provlde the total amount paid to key management personnel {Includes trustees and senlor management) for thelr Servlces to the charity. For specrnc amounts paid to trustees. See Note 28. CC17a (Excel) 0210212025 11.2 Average head count In the year Thls year Number Last year Number The parts of the charfty In whl¢h tho employees work Total 11.3 Ex￿rat[a payrnents to employees and others (excluding tn￿tee8) Please complete if an ex-gratia payment is made. Please explaln the nature of the payment Thls year List year Please sLite the legal authority or reason for maklng the payment Th1$ year Last y￿r Thls year Last year Please state the arnount of the payment lor value of any walver of a rlght to an asset} CC178 (Excell 0210212025 11.4 Redundancy payments Please complete if any redundancy or lemiination payment is made in the pwiod. Thls year Last year Total arnount of payment The nature of the payment (cash, asset •tc.I Thls year Last year The extent of redundancy fundlng at the balance sheet date Please slate the accountlng pollcy for any redundancy Of terrninatlon payments CC178 (Excell 0210212025 Section C Noles to the accounts Icontl Noto 12 Oefined contribution pwwion sch•me or defined benefft •cheme accountod ft>r 4• a defined contrlbutlon sGhem•. 12.1 Plo•s• conwhl• Ihis nore M• d•fin•d COn￿bIth pwlon SCI￿rn• ts op•rnt•d. Th1• ye•r Amount of ¢ontrlbutlorta rxognl8•d In th• SOFA M an •xpwM• Pl•4￿ oxplaln th• basls for all¢x•tlng th• Ilablllty and •xponM of (Sefingd contrlbutfion pènslon schwne b•tw••n activitl•s and b•twffin r••trICt￿ and unrg8trlct•d funds. 12.2 Pla￿# eomplel• thls s•ctlon wlmrn th• chwitypwticipat•s In • dofined ben￿¢p￿s1o￿ pl￿ but Is unable to a$eortaln Its sharn of th• undeftying assets andliabilitl Please corfflrni that although the 8¢h•m• 18 accountod for as a d•fin•d contribullon plan, It 1$ a d•fin•d b•n•fft plan. Pl•a￿ provld• •uch Inform#iion •• l• •vallabl• about th• plan'• $urplu• or d•fieSt and th• ImplIca￿On8, If any, for th• r•porttng charity for thb8 y•ar and last y•ar, If dlfforont 12.3 Please ¢ompi•te tnts sttdon wh•r• th• ¢harttyp•rtI¢1p•t￿ In a mullwloyer d•llned benefftpertslon pl•n that Is accounted for￿ • definod confylbutlon plan. De5crfbo tho •Xt*nt to whlch th• charlty c•n bo Iljblg to the plan for oth•r ent1￿•s. obligatlon• under the t•m• •nd ¢ondltSons of the multiryemployer plan. If thls Is dlffor•nt for lagt Y￿r, provid• d￿11¥ Provld• an •xplan•Uon of how any Ilability arl$fing from an agr8•m•nt wlth multl4mploy•r plan to lund a d•fictt has b••n d•t0rmlr￿d. If thls Is dlffw•nt for last yèar, pro￿d• d•talls CC17a IExc4ti 02102r202S Section C Notes to the accoiints Icontl Note 13 Grantmaking Pl•8$• ¢ompl•t• th1• nots If th• chaRty mad• qi¥nts ordonatloft¥ whkh th •gqr•gats forni • ffl•lwthlpart ofth• ¢h•Ftt¥bl• *¢d¥ltlu undèrtak•n. This year. 13.1 Anaty•l• of grnnts pald Ilncluded In co•t of ch•thabbe a¢￿¥￿18•) Grants to An•ly• Grnnl• to IndWu•l• Support Totsl eenetsrd 22.025 16 COJ.QAJ 22,025.C#) 16.rth.C¥) NOnmason￿ chant or Total 38.025 38,025 13.2 Grants to InBt1¢U￿on$ det•lts of eh*rtty URL My ¢h4rtty ha• mad8 grnnls to wrtlcular Inslftutton¥ tha¢ •r• m•twl•l In tho ontgxt oftts grnnfrno*lng. D•ialts oftho Instttsrtlon supported PU￿ ofth• 9rant8ndtolalpald to Mch Institirtlon Is wallable ¢>n the wob ¥tt•. Y•5 Pmvld• d•t•Hs N•ffl￿ ol In•tltutlon TotAI *mount of TolJl grnnts to rwo+thp p•rtod Oth•r unanalys•d qrants TOTAL GRA1475 PAID NIL CC17• IEx¢•ti 24m2Q025 Last year. 13.3 Anal￿1• ol rnnt¥ p•ld Ilnc14thd In co8t of ch•rltsbl• actMtl••l Grants In$￿tUtion¥ An3￿ Grnnts to IrKllvldu•l• Support Total ALl￿rtY or proieo 1 Athty ¢rproJe¢i 2 or proJo(13 Adivity or projecl 4 To¢•1 Pl￿* •ntsr"Nll"Mthe ¢h•rfty ¢loes notl(lenty an￿o￿all0c&￿ support cos 13.4 Grnnt• mad• to IMtitutlon• Plus• provld• dotails of chanty's URL context oflts grantm8klng. Detslts ofthe Insttlulkn supported. puwtr of th• ornnt and tota1pa￿ to •*eh Ins￿￿rtIOn Is av•llabl• on th¢ chartty's web ¥tte. No Prnvld• d•i•lls m8• of In•iltullon Purpo•e Total •rnount ol Totslgrnnts to insthrtlons In F•porLTng perlod othor un•naly¥od grwrf¥ TOTAL GRA14TS PAIO NIL CC17• IEx¢•ll 02fvJ2r2025 Section C Notes to the accounts Icont Nots 14 TaTrgIb￿ fixed aM•ts Pl•as• ¢ompl8t• th1$ not• Mth• ch•rty any t•nglbl• Ilx•d•ss•ts 14.1 Cost or valuatlon Fr••tsYd a Flxbjrti, fittITrJB •Dd •4ylpixnt Total Idlty• At the beginning of Ihe year A(J¢Jrtions Revaluati￿9 Disposals Tran$fers- Al end ofthè y88r 14.2 D•P￿lI￿an Ind Impalrnwnts SL u RB Istraggfrt ne or Re(lu(aThJ Balancel SL￿R8 SLorRB SLorRB SLorRB At begirsning of the year Disposals Depwats"on Impairrne Tran$lers- At end ol ytsr 14.3 N•t book v¥lug book value at the bèginning of the year Net v81ue at the end ol IhÈ yèar CC178 IExc•ll 24102r2025 14.4 lrnylrment Thls y•ar Pl￿4 provld• ¥ d•scrtptlon of th• •v•nts anddrcumst•nc•s th•t l•d to the rg¢0gnitlon orrgvw¥al ofan Impa1￿•￿t Iw. L•sty••r.. Pl•as• pro¥ld• a d•scrlptlon of th• •v•nts •ndehcumstsnc•s th•t l•d ro th• rKo9nltlon orrw•rsal ofan Imwlrm•ntlo8& 14.5 R•￿lUatIon M•n ac¢ountlngpoll¢y olr•wJlu•llon l¥ J¢*Jpt•4 pl••s• pm¥ld•.' L•¥t th• nam• ofln(1opwJdwrt valuw. MoppIl￿b the m•thods •ppll•d•ndslgnlThe•nt•swmptlo e•n¥od und•r th• cost model. 14.6 Other d￿clO•Ur Th1• y￿r La•t y•ar flj Pl••s• srth th• amouni of bonowlng com ff •ny. c•pltslls•dln th• constr￿￿ ol nglbh fi￿￿￿￿¥¢￿ and Ihe ¢JpltsllsJdon rJts used. (Ilj Pl•as•provld• th• amount olconiTacttMI commth•nts for lh• •cqutsttlon of tsnglbl• Ilx•dassets. flllj D•tall$ ofthè •xIs1￿c* and carrylng •mounts ofprnperty. plant and Ipm•ntM whl¢h lh• ch•iltyh•s rnsIrlc￿ or tr￿l •rnp16dg•d•# $•curty for Ilablllll•s. ' Tha knsIg￿.rnwts formO￿M8nts fix8d8swi - Fle8se indicate Ihe Mell￿Ordepre￿8￿ by d81etsng m6th￿lf￿1t 8pplicabl& (SL = straohtline." RB= rèducing balgncel. Also please indiG818 the rpte o1d9prn￿0ts￿. tr8trBFhtfv￿. is the anbopatedlrte ollhe 8ssel fin Yea￿1. tsreduurNJ balance. wh81 13 the CC171 (Excall 2410212025 Section C Notes to Ihc accounts (cont Note 15 Inlanglble assets Plaase complete this note rfthe chality has any intangible •M•ts 15.1 Cost or valu•tlon R•6••rch & P•t•nts and Totsl Al beginning of the year Additions Disposals Revaluat￿$ TTansfer5' Al end of the year 15.2 Amortlsatlon and Impalrmenls SLorRB "Ba818 SLorRB SLorRB SLorRB stra￿h1 Line I'SL-I or Reducing Balance I-RB") At beginning of the year Disposals Amortisatson Impaiment Transfeis- Al end of year 15.3 Not book valu• Nel bcok value al the beginning of the year Nel bcok value at the end of the year 15.4 Accountlng polScy Pleaso dis¢loso th8 accountlng pollcy for Intanglbl• Ilx•d assets Includlng.. Reasons for choosing amothation rntes Policl•s th• r•cognltlon of any ca development CC178 IExc41) tr2102r2025 16.5 Impalrniont Th18 yoar: Please pmvide a d8scription of th• •v•nts and circumstances that led to the rocognition or rnversal of an impairnient los& Last Y￿r. Please pmvlde • doscnfpdon of the ev•nts and clrcumstances that led to the rgcognftlon orrnvo￿l of an Impalmiont lo 15.6 Rev•lu¥tlon Ilan a¢counllng pollcy of r8valu•tion Is •dopt8d. please pmvlde.. Thls y•ar Last year the gffKllvg datg ol the rovaluallon th• n8m• of Indop•nd•nt v•lu•r. If •ppllcabl• the methods appllod the Canylng amount that would haw beon rncognls•d had the assets l)een Canled under the cost m¢xld. 15.7 other dlsclo8urg (l) Myourlntjngible a￿8t was acqulrod by way olgrant. pmvlde valu• on inftlal recognltlon and canying amount of the asseL (li) D•tails of the canying amounts olany intangibl• assets to whl¢h the charlty has rnstiictod lid• or that arn plodg•d as s•curity for li•biliri•s. (Ill) Please pmvlde the 8mount of contsactual commltments lor the acqui$ltion of intangible assgts. flv) SMte the amount of research and dev•lopm•nt expendlture recognlsed as expendlturn In the yew. fvj Pleaso detsll tho headlngs In tho SOFA In whlch a charye foramort13atlon of Intanglble assets Is Included. Ivl) FOr￿Y M•twI￿ Inlanglbl• pl••8• wovld• • des¢rfptlon. Its carylng amountandany rnmelnlng amortisatlon p8rlod. The Yransfers" row is for movements between fixed a$5el categories. - Reese indKate the method OfdepRciat￿i by deleting Ihe m8lh(xY not 8pplKable (SL- strawhl line." R8 = ducing balance). Also please indicate the rale of depr8th81itin." forstrawht line. what is the anticwl8d1rf8 of the 8SS8t (in y8atsJ,' forrnducing balanca. what is the peffjenlage annu81 deduc￿. CC17a (Excell 0210212025 Section C Notes to the accounls Icontl Not• 16 H8rltag8 ass8ts Ple￿? complet• thls not• Ilthe ch•Fty has h•rftaq• •ss•ts 16.1 Ggnor•l d*lo•ur•g for•ll ch•rtlieo I￿klIng herll•9e •sut• Th1• y•af Last ye•r 111 Explaln the n•tur• and K•1• of h•rttsge ￿gets held. 1111 Explaln thfr pollcy for th• •cquislllon, P￿￿Try•ll0n, manag•m•nt and dl•po8al ol h•rll*g• 16.2 Co•t or v•luallon Total At beginniThJ of the year Al￿￿'0n$ Disposa15 Revaluatsons Transl•rs' At end of the year 16.3 O•pr•clatlon and Impalrnwnts Straight Line I"SL"lor Reduung Balance At beginning of the year Disposals Depreaation Impgirrr TTrn$f￿. At end ofyear 18.4 W ljook valug Nèt tx¥)k valua at th& baginning of thè year Net book valye at the end ol yw CC17a (ExrAI 02102r2025 16.$ 1rnpalm￿rt Thls y•ar Pl•as• provld• a d•scrtptlon of the ev8nts andclrcumstanc•s th•tl8d to th• r•cognftlon orrwowl of an impairnmnt lo Last y•ar Pl•as• pmvlde 8 descrfpkn of the •v•ftts •ndelrtunist•iic•s th•t I￿t0 th• rncognlvon or r•wsal olan Imwlrnient loss 16.8 Revaluatlon Thh y••r L••1 ygar the n•me of Indopend8nt v•lu•r, tt•ppllcabl• th• m•ihods •ppll•d andslqnlftc•ntJwmpkn¥ •nyslqnlffcanl Mmltadon¥ on thg v•lu•tton 16.7 An4￿1* ol hfft•ge ••wl¥ ty ¢lu• or group dl•iinguknhlng th0￿ at co•t •nd tho•• at valu•tlon Totsl Group A C8rrwr4J amount at the beginThThJ or rio(I Ad￿￿on$ Di$p05als Depreraati￿irnp0IMltftI Revaluatson Coryng ￿￿U￿t at Ihe end ol penc¢J 16.8 H•M•g• •••ets horlt•gg •M•ty ar* not rn¢olgnlwd on Ih• balanc• •h••ti Th1• wr L••t y•ar 111 Expl•ln th• rn••on why herrt•g• a¥••ts h•Trt not b••n rn¢ognb•¢¢l on th• balanc• •he•L 1111 D••¢rlb• th• 8ignfficanc• and nlturn of h•rMage a••ets. 11111 Dl•¢lo•e Infonn¥tJon th•1 l¥ Ipful In a4u•8lng the value ol h•rlt•g• ••￿ts. Ilvl Explaln the rBason why rt l• not pr•¢y￿ble to obt*ln a ￿l￿tIon of h?rft•ge CC178 IEK41 16.9 Fl¥e y••r •ummary of hertt•p al￿￿ transactlons 2015 2014 2013 2012 2011 Purcha8epJ Group A Group B Group C Oiher Donatlon• Group A Group B Group C Other Totsl addltlons Ch•ry• for lrnp•lrm•nt Group A Group GTOUP C Totsi eharyo lor Impqlmwnt Dl•po8al• Group A- carrying am(¥Jnt Group 8- carrying arnourrt Group C Totsl di•po••l• CC17• IEx¢•l 02102r2025 Sectioii C Note5 to the accounts Noi• 17 17.1 Ffjx•d ••••ty In¥wkn•nty Iplg•u prrJvkl• forw¢h ¢l•M of TLI CatyThJ Ifalr) at of peri(x# 2.704.934 2.7Ck8.932 241.Z69 830.875 Feriod. 657.619 657,819 Lts*.' Imyli*i•ni* Addll¢•duc#'. KVlrxrt) in nod 164,725 164.725 C8￿(141r) ¥gh￿ ai ofjyar 2.453.309 591. 3.014.913 acqulBMon• thwh rt Is th• (ru¥t•￿'0￿ v•luw¥'lJesi o¥tfm•iv of f•lrv•l 17.2 provOd• * brnakdown ol InY••trwnty •hown •lJon •9feoing with tho b•l•nc• ¥h••t B04 dlff•r•ntl•llnq ￿t*•*n Iho•• h•kl •tf•lr ¥•lu• •nd thc4• h•ld at co¥l imp•im*nL An#ty•l• of InY••thMn Coh ty ¢•bh •4v￿•￿￿11 2.453.3tv3 Irbv•tsth*llt prop•rt 591.804 OthAf IrI￿tMo￿tr Tot•1 2.453.￿￿) 591.804 Or•nd t0ts1 IF*lrv*k* *tyw •nd+C* l•• Inyl 3,044.913 Ana￿ts of InveJlm•nts y•v•wl Ctsh orttsh •4ulnk* 2.704.934 Invustm•nt prop•rtl•• 1.998 Tot•1 2.rn.932 Grnnd totsl IF¥lrv•lu• •tyMr •nd+¢o•t l•M 2.7￿,922 CCI7•lE￿[j 17.3 11 yourehailty hold• bn¥Mlm•nt prop•ttMi pl••M cornphts th• followlng not•.. Th• y•ar L45t y••r 111 Exwln tl* rngthtsth and •t•rmlnlnB th• tslrYalu• oflnw•I￿WoPvty IwMI ty I h•rlty ol rv41 Ir*1 fÈes 1111 N•mg or Ind•p•nd•nt ¥*lwr. ￿•pplIcAtsl•. •nd r•l•v•DI qU•llhC•￿tsM M￿ha￿ PA￿￿. MRICS. {fiG8 Fle9￿1¢￿ Valw) 11111 Provid• ￿•ts1￿ ol •rry rg•tvldth OTr Ith• abllty io rn￿1•• propovty orafi th• rnmltwK• ol Incwhi Of dl•pwl proc•• Il¥) Expl•ln •ny ¢ontsati￿l obllgaiion8 forth• pu￿1*￿, Co￿trUCtIon or d•v•lopm•ht of InvMtm•nt prowty or tor 17A Pl••M pro¥ld• • brn•ltdty•n ol ¢uff•nt*M•t 111￿￿nts, Il•ppISE•l￿, •grn•in9 with th• b•l•nM •h••t An•ty•l* of curv•nt au•t Invgstrrnnts ¢#h or ¢￿h 8¢x￿1 12.750 56.878 Tol•l 12.750 56.878 17.6 G￿Nn1• Last Pl•M• provlO• ¢•t•1￿ •r¥l •n0unt•f any guar•rth• m•d•ts or on b•Mllof • thlrd pl ¢C17• IEKdl 17.6 Conc•Mknn•ry lo•n• y*•r£ La•t ￿r£ Amount ofeonc•s8lon•ry mad• IA1• jlorn￿￿Onj. Toi*l L•rtswrt y••r LaBI y•ar T•rm• •nd ¢ondltloM •9 Iiiblf•BI iat•. ••eurfty provld•d V•lu# ofany eorK•uloMry I￿￿$ t*fftlch n eommthd but not t•k•n up •tU* rgporuno Amounts FqyabkTrTwllhln l yMr Jnourbts yyabl• ift•r morn th•n 1 ya•r Amoyrttl rnc•l¥abf• *Sthln l y• 17.7 Addltlonal Infom provbd• Inlom￿lIO￿ about slgninunc• of Invo•trD•nts to lh• ¢h•rll fln•n¢l•l p￿￿On or 09. 1•rn¥ •rnl co1￿￿10￿$ ol lo•M or th• ofl*ng m•nag• IIMncl•l rt• For ill In¥Mtm•n* rMMur•d •thlv v•lw. I foi (l•l•nnlnlng lh• valu•, InWudlTrg any umpYon¥ when * valu•iion tschnlqu•. Wh•M • chortty provld•O fln•n¢l•l ￿••￿ fomi ol lh• •mourrtofti ffimnclal au•t p￿￿g•d M •gCUTIty Ind lh• *im• and eondMon• r•l•Vng to ￿ pWg•. Cc17•ns why Incom• Is doforrld. Mov•ment In dehrr8d Income account Thh year Last y••r 8al•n¢e at thg start of thè reportlng perltxl Arnounts added in Current perlod Amounts releas8d to Income from prevlous p•rl¢>d• Balance at th• ond of the rnportlng porlod CC178 IExr*ll 24102r2025 Section C Notes lo the accouiits Icontl Note 21 Provl•loM lor llabl1lti￿ and ch•rgg• 21.1 ¥o¥•Thnts In r•cognbMd pro¥kn•on• •nd fundlng conlnknnt durkng th• wlod Th1• y•ar Last YMT B•l4nu * th• •tsrt 01th8 rnporung wk>d Amourts •ddod In curr•nt wriod Amounts charyod again8tthe pmvi•ion In th• p•rfod •moyntr rn¥•rMd dvrlng th• porfod B•￿n¢* •¢ th• •nd of lh• rnportong portod 21.2 Pl•a80 pvo¥ld•'. brl•f 0￿¢￿p￿0n of any obliy•tson• on thg b•lan¢8 •heet and tho •xp•ctsd •mount •nd ¢Thing ol ulllng p•ym•nts', . an Indk•Oon olth• vnc•tshth• Iboul th• •￿￿￿t or tlmlng of thoBe outho*B: and -tho amount ofiry •¥P•¢tyd rnknbur••brnnC •tsWng the amount of any •uet thit IM• b•M rn¢•gnl••d for that•xpKt•d rnlmbur¥￿￿￿L Th• La•t 21.3 For •ny fvndln9 ¢(#Mthntthat kn not r•cogni59d 4$ a liatsilrty or pml•ion, prol￿d• of Col￿rtM•￿t rnade, th• tsrrn of th•1 eommttinenL any p8rformancvvl•l•d ¢ondrlion• •nd d•tsih of how th• comm4tment wlll b• fund•d Iwhh Gonts•¢ts Iv upll*l •xp•Thd4￿f• 80p•rai•Py M￿￿ent￿l6.08o 21.4 Where unrnstrictod funds b••n dMign•l•d to a fund ¢orrAnth*n( pkne di￿10￿• th• of •ny *mounts do•lgnatsd and th• 1Skoty IlTrang of that •x9•nd￿r￿. CC178 IExcel) 24￿2r2025 Section C Notès to the accounts Icontl Note 22 Oth•r dls¢lo•ur•s for dob¢ors, credltors and oth•r baslc financl•l Instrum•nt8 Th1• yomr La•ty••r 22.1 Ple••e provld? Inform•tlon abo￿th+ 81gnlllcanc• of nanclal In•trurnents leg. debtorJ. crBdtlorn. Inv•81n￿n1* •t¢l to th• ch•rW% fin*ncL¥l posftlon or p•rfomMnc•, for •x•mple, th• teffi￿ and condthonl ol orth• ol hodglng to manage fln•nclal rl•k. 212 11 th• ¢h•iity h•• financial auets u a fonn of locurlty. the urrylng omount of the financlal assets pledged a• 8ecurlty and the tenn• ¥nd conthnB r•11t￿ to Its pl•do• •hould be gI￿n h?rn. ex17• IE*edl 02hJ2r2025 Seclion C Notes to the accounts (conti Nots 23 Conllng•nt Ilabllltbgs and contlng•nt •M¢ts 23.1 Contlng•nt Il*bllll1•• Where the ¢harlty h•* Contlnynt Il•bllllStb••, pl•a8• eompknts th• lolbowlng ••cllon unl•*# th• poMlblllty of thelr exb•t•nce l• r￿01¢. Th1• y￿r De•¢rlptlon ol It•m Includlng Its Wl naturn. Pha do•crbbe any •Kurlty prowlded In ¢onn•etlon th th• Ilablllty. E•llmats of finanelal eff•et Last D••crfptlon ol Ii•m Ineludlng Its lffjil n•turn. Plea dMcrtb• any ￿cUrIty PVO7ld•d In eonnoeiion to th• Il•bllrty. E•tlrnal• ol Ilnoncl•l effgct 23.2 Contln9ent 0s¥gts Wh•rn eMrlty ha8 eorrtlng•ffl aM•ty. pl*•M ¢omplts th• tsllty*lnB ¥•¢IIDn Twhen thelr •xl¥l•n￿ I• probablo ThI¥￿r Do•crfptlon of It•m E•Omat• of fln•n¢k*l elfv La81 year n ol Il•rn E•tlmat• of flnanelal •if•¢t 23A Other dl•clo•ur•• for conllng•nt *•￿• •ndlor ILablllll•• y￿r L••t y••f Expk•ln •ny unwt•lntl•• rnl•tlng to th• •m•unt or tlmlng ol••ttlem•rt and th• poMlbllty olany Wh•r• It l• not prnclkal to mik• on• or morn ol thtt• dhclo•ure*. *t*ie th1• taet CC17w IEx*l 0210212025 Nol• 24 Ca•h •1 b•nk •nd In h•nd y••r L•Biy••r Short t•rni Inv••kn*ts than 3 monts m*iurMy d•*) Short t•nn d•pr•N¥ 144.937 266.542 Tai*l CC171 (Exc Section C Note5 to the accounts Icontl Note 25 Falr value of asmts •nd Il•bllltl•• L¥¥Jt 26.1 Pl•x• pro¥ld• ofth8 chafw oxposure to cr•drt rl•k (the rtsk of In¢uthnu • IrA¥ du• to 8 detrtor not paylng what h o**dl. lfjquldtty sk ItIKy Flsk 91 r￿1 b￿nll ab￿ to ffl••t Ahort t*rm flnanclal d•m•n(tsl and m4vk•t rt¥k l#¥ th•t tho v•lu• of an In¥e4tn￿t￿II tsll duo to chang In tl* milk*) arwng from financlal Insti￿￿ 10 whlch th• ¢h•frty l¥ •xp(¥wl It ￿ •nd ol th• rnporwng prbod and oxwaln the ch•rtty 26.2 Pl•￿ gfv• d•t¥ll¥ oftt¥ Ifflount tsl rh•ng• In th• falrvalw of ljulc flnancfj•l Irthm•nts 14èbtors, crèdltorn, Investménb Is•e secuon 11. FRS 102 SORPII mwur•d •t hlr Y•lu• throLryh tho SOFA th•t ￿ •ttrfbut4We to ch•rw CC17a IExc•ll Section C Notes to the accounts Icontl Note 26 Evènts after the end of the reportlng perlod Please complete this note events (not requiring a(ljuslm•nt to Ihe a¢¢ounts) have o¢¢urnd after the end of the rnportsng period but before the accounts are authonsed which relate to conditions that arose after the end of the Thts Last ear Please provlde detalls of the nature of the event Provlde an 4stlrnate of th• flnanclal •ffoCt of the event or a statefflent that such an esllmate cannot bo made CC170 (Excell 0210212025 111111111111 111111111111 111111111111 111111111111 111111111111 111111111111 11 $1 111. 1111111111 Iiiiiiiiiiui Illllllllllli 1111111111 Illlllll 11 &1 Sectioii C Notes lo the accounts Icorill Note 27 Charity funds (cont) 27.3 Transfers between funds This ear R8a8on for transfvr and wh•r• 8ndowmgnt 18 convort¢d to In¢om•, al power for Its convernlon Amount 8ehveen unrestricted and re$tn"cled fvnds Bets¥een endowment and restn'cted funds Be￿een endowment and unrestricled funds Last ear Reason for transfer and wh•r• endowmont Is convertod to income. legal power for Its convernlon Amount 8etsYeen unre5tn.cted and restricted funds Betsveen endowment and restncted fvnds Betsveen endcAvment and unrestn.cted funds 27.4 Designated funds This ear Plannfjd us• Pu ol the dKI natlon Amounl Last ear plann￿ us& Purpose of thg deslgnatlon Amount CC179 IExcd} 0210V2025 Soclion Notes to Ihe ac¢oiJnts Nots 28 28.1 Tnwts• MIUr￿thn and ￿ne1￿ Thi• y•* TRiIE L•g•l •uthorfty l•q TOTIL IIncl￿oI￿A L￿1 y••r TRue •mKAoyrrvJrrt ¥rtth th•lr c￿rIty or¥ rgl•l•d wthy ITn* or F¥lwl L•ll•i I•q ordw. govgrnlnq TOT {IrKludl <4Prt•Y• C¢17• IE*WI 28.2 Tnthts￿' •xpan Plo tnmtyo oxpqw• h•v• bwrb Incurr•d or F•lwl TRUE Th* y••r L•w yv*r Trnvgl Oth•r Ip￿•￿• Iprtlfyl". TOTAL oxp•wI p•bd by th• C￿lIty 28.3 TAns•clionl•l with r•latsd parllo• Thlj yMr TRUE R•l•UorAhlp ¢h•rlty or Mi•t•d po durtng r•portlng cC17aiE￿0 L*•t ye•r TRUE Amounts rmy ofanYp•fft*tt(C￿#1d1I•￿anj tob•wovld•d CC17• IE**l Section C Notes to the accounts (cont) Nots 29 Additlonal Dlsclosures Tho following are significant mattors which ar• not covor•d in oth•r not•s and n••d to bo includod to provide a proper undorstandlng of th• accounts. If th•v• is insufficient room h•ret ploaso add Separate sheet CC17a (Excell 0210212025 CHARITY COMMISSION Fok ENGLANO AND Qdll Fl Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of MASONIC BENEVOLENT FUND OF SOUTH WALES On accounts lor the year ended ' 31° DECEMBER 2024 Charity no lif any) 208514 Set out on pages ,, SOFA, B, NI-N29 I report to the trustee5 on my examination of the accounts of the above charity I'lhe Trust") for the year ended Responsibilities and basis of report As the charTVs Injstees, you are responsible for the preparation of the accounts In accordan￿ with the requirements of the Chanties Act 2011 1.the Acri I report in respeci of rny examination of the Trust's accounts carried out under section 145 of the 2011 Act and ln carrying out my examination, I have follc.wed all the applicable Directions given by the Charity Commission under sectson 145{5llbl of the Act Independent I have completed my examination. I confimi that no matenal matters have examine¢s statement come to my attention in connection wlh the examinat10n lolher than that disclosed below ') which gi￿eS me cause lo believe that in, any material respect.. the accounting records were not kept in ac(x)rdance wtth section 130 of the Charitses Act", or the accounts did not accord with the accounting records; or the accounts did not comply the applicable requirements onceming the fo￿￿ and content of accounts set out in the Charities {AcGounts and Reports) Regulaliop.s ?008 other than any requirement that the accounts give a 'true and fai¢ view which is not a rnatter considered as part of an Independent examination. I have no concems and have come across no other matters in connection Wtth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Please <*lete the wonys in the brackets if they do not apply Signed: Date: 7 4.20&S Name: B%/&r￿E.￿r ACA FCCA Relevant professional I I C A r. qualificationlsl or body Ilf any): Address: HuDtiE BAKSAI CHAR I ERED ALCOUNTANTS IER Oct 2018 CHURCHGATE HOUSE. CHURCH ROAD. WHITCHURCH. CARDIFF. CF14 2DX Section B Disclosure Only ￿rnpIel￿ 11 blr rXdTrifler rieFds iv fi,gki15ytr,- ,m¢aiei ia5 rrIar￿[S vi all cei I I Isaa nnq2. Inda È3nAan* axaffjin?tion of accoi In*¢- rlirenmons anrl guidan￿ for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018