THE WARWICKSEIIRE MASONIC CIIARrrABLE ASSOCIATION LIMrrED (Company Llmited by GuArAntee) Cornpany number 402213 Re8i5terEd Chllrity number 211588 REPORT AND FINANCIAL STATEMENTS for the yeEr ended 31 DECEMBER 2023 Mlch2el Harwotsd & Co Chartcttd ArtopDtsnts WARWICK THE WARWICKSHIRE MASONIC CHARrrABLE ASSOCIATtON LIMITED INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Index Charity Infymiation T￿stee5. Report on-masonio Charitable Grants Audiloffs Report Statement of Finan¢iJ Activities l2 Comparalive S&*meth¢ of Financial Activities 13 Balance Sheet l4 C&sh Flow Statemertt 15 Notes to the Finan¢ial Statements 16-29 Non Statutory Appendices 30 THE WARWJCKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The TNst¢es submit iheir annual report and audited finaneial Statements of the Charity for the year ended 31 December 2023. The rinancial staternents have been prepared in accordance with th¢ accounting F(Jli¢ies se¢ out in note 2 10 the a¢¢ounts and ¢omply with the Charity's trust deed. the Charities Act 2011 a￿] the State4neni of Recommended Pr3¢1i¢e". Accowiting aNI Rep)rting by Charilies preparing iheir accounts in accordancc with the Firwicial Retthing Standard applicable irt the UK and Republic of Ireland l(FRS 1021 (Charities SORP IFRS 102)), issued in OCto￿T 2019. REFERENCE AND ADMINISTRATIVE DETAIiS The warwiC￿hlrt Masoni¢ Charitable Asso¢%ation Limited Wds conaituted as a Cornp￿y limited by guarantre on 18 Deeernber 1945 . and is. therefore. govemed by a M¢moTandum and Article5 of Awiation. It IS Te8iStered &5 a Charity the Charities Commission. Tru$tte5 M C Morris R L Barker PLHa]I W T Clark J B Hayward S E W Tranter G Walker S Butterworth GLaw N R Burton JP {Retired 11105r2023) DJ Shakeshaft (Appointed IJ05r2023) C J Grove MBE D J M Gr¢enwcA)d E J Rymer M J KirnEKrley S N E5WOrthy J D HarTi5 D A Buicher HLSmith N J Hawkins (Retired 26102120231 P H Clarke Chief Exec•tive Ofll¢¢r PLHall Company Se¢re¢ary DA L4)dge Cornpany Trt￿￿Ter S E W Tr8ni¢r Registered Office Y¢n¢on Assernbly Room$ 73 Grav¢lly Hill North ETdington Bimiingharn B23 68J Bank HSBC PI¢ PO Box 68 130 New Street Birniingham 'B24JU Auditor5 Michael Harwood & Co Charter¢d Accountants & Statutory Auditors Greville House 10 Jury Street Wati¥ick lTrvtStJneDt Advisors Evelyn Partners 103 Colmore Row Birmingham .B33AG CV34 4EW THE WARWICKSHtRE MASONIC CHARITABLE ASSOCIATION LIMITED REPORT OF THE TRUSTEES (¢on¢inued) FOR THE YEAR ENDED 31 DECEMBER 2023 OWECTtVES AND ACTtvTrtES The Charitys objects and principle activities ¢wtinue to ￿ th05¢ of promotin& within the pYovinc¢ of W8rwick5hir4 SUPPOrt of the N1#50nic eharilies. The Charity also sum￿n$N￿-M￿￿iC ¢hariti¢s &$ far &$ ftsnts allow. The Charitys main method of raisin8 fiLn& is by encoura8in8 Freem&wn5 to survirt ￿Jr work particularly by the use of Gift Aid. The Charity has been the grateful recipient of numerous donations and ￿￿￿eSts over the years. The ChaTLty is the holding WllPaDy for the Provinrial ¢haTitable fiJnd5 which are incDrwKated into the5¢ financia) siitrm¢nts. As ihe Charity Ès incorporated. it acts os nominee investment holder on behalf of the Warwickshiff Masonic Benevolent Fund ("Ihe WMBF'I. The WMBF is a connected charity. havin8 a number of comJTh)n trustee4 a]beii uninc(wrated and havin8 its own 5eparatc registration with the ChaTiti¢s C¢)mmi&sion. Publit Benefit The Trustees confinn that they have paid due regard to the 8uidance given by the Charity Commi55ion on public benefit. The WMCA make5 donations to a widE range of Masonic and Non-masonic charities 1¥)th nationally and I￿ally. therefore the WMCA'S ac¢ivities are con5id¢red io hBve far rea¢hing benefits to soCi￿Y as a whole. The Charity 8ims- through its grant making )li¢y- to give gTanL5 to help a5 many worthy causes ￿ W￿lbIt. The names of the nort ￿&s0n1C organisations suAxJrted in further4nc¢ of the aimsof the Charity giv￿ on pa8e$ 6 to 9 of thi$ T¢￿rt. Pollel¢$ Adopiéd #nd Pury05es for which Assets Held The Trustets consider that the careful investrn¢nt of iwuests and large d￿atIOnS not immedi8¢ely rwir¢d, (and unless s&t¢d io th¢ ¢onirdry by thE donor) will %CUTe the continuation ofthe Charitys aciivilies. This ￿lleY is inwJ&d to moximise income, whi15t maintaining capital values. Crgni Mgking Polity On receipt of a requ¢st for & granl the p)licy is for th¢ Pto¥incial tharity St¢w8rd to •ppraisethe substsnc¢ and suithbility of th¢ application, and th¢ natt1￿ of ¢h¢ applicant before 5ubmittin8 hi5 pro￿￿ ￿ th¢"Grnnts' sub-commiLie¢ for fioal approval. All de¢i5ioThs re8ardin8 Grants ore made having in mind the Charity Commission guidancc ¢)n public bentfiL ACHIEVEMENTS AND PERFORMANCE The Charity continues to make Brants ￿ dher M&4)nic and Nott-M&wnir chorities. and will also ￿deaVoUr to fulfil other Masonic and Non-M&soni¢ ¢haritsbl¢ nefds as they arisE for the fuiure will continue alon8 these lines, makin8 gr￿ts ￿ help as many worthy causes as Frf)ssible. Grants and donations paid during the year lrnounied to £433.620 Iyear w De¢omber2022. £316.9401. A total of 103 grants ￿talling £189.620 (Year to DeL%mber 2022- 114 grnnLS rotalliog £170.440) ￿le made to Non-masonic charities. Seven Ma50nic 8ranls totalling £201.360 wcre rnade during thc year (Year to Decemb¢r 2022- five tothlling £114,(￿1. The charities that gtants have becn aWtr￿￿ to are lth l¢Ka] and nationwid¢ in ex￿1 8nd ¢yrate in a broad rdnge of Sec￿rS, brin8ir18 benefil to many in society. THE WARWICKSHIRE TrIASONJC CHARITABLE ASSOCIATION LIMITED REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2D23 FINANCIAL REVIEW Tr•osgctioThs 4nd Financial Posltlon Th¢ Sthtem¢ni of Financial Aetiviiies shows i￿￿1n8 res(rtJr¢es irt the year of £433.676 { Year to Decemb¢r 2022- £602,648). The main recurring income source of the Charity is frnm ittvesthient iE)come which am(￿nIed to £358,244 for the year (Year to December 2022- £268,804). Grants and donations paid durin8 the year atnounted ￿ £437,980 including £185,000 paid to the Mag)nic Charitable Foundation in respect of the 2023 Festival which clos¢d in S¢p*Jni*r 2023. GT2nts and donations wralling £31A940 wer¢ paid in ihe previous year to December 2022, including £106.000 paid in respect of the 2023 Mosoni¢ F￿1¥al. The nd income for the year after reajised 8aitL4 on disp)sals of inv&5tmuhts amcrtjnted tt> £236,238 (Year to December 2022 - £500.597). The Statement ofFinancial Activities rtflects M￿et valucs of limed irtvestsnents had risen by £354.341 by the December 2022 year end {Year to December 2022- decreased by £1,335,475). This resulted in a surplus in the nK)vem￿l io fvnds for the year of £590,579 (Year to December 2022- a defi¢it net movement of £834.878}. On the B8lance SheeL the Vdlue of the Investment t￿nfo￿l0 has Tisen by £i.rxKI,252 to £9.581.601 after allowing for aCqUi5Ltion5 and disp05als during the period. Non-masonic Ch*rltl¢$ The grants to Non-M&wni¢ charities made during the year amounted 10 £189,620 (Year io Decernber 2022 - £I70.4401. Jn additionn the charity made donations totallin8 £47.000 in resrKJnse w ¢mer8cncy appeals followin8 earthquakes, flocwjs and the outbreak of war in the Middle Eas¢. The W#rwick5hlre and R M I￿ndOn Subs¢rlptlon Fuffjds These pemiasJ¢r)t fi￿d$ are available to help needy Breth￿n meet one-yearfs l￿d8¢ Subscripti￿]. When demands exceed the income Availabl¢, defi¢its are met from generdl funds. INVESTMENT PERFORMANCE DURING THE YEAR UNDER REVIEW After the tur[r￿lI of reetnt year& includin8 Covid kKk-dow￿5. the invasions of tN)Ih Ukraine gnd Gaz4 and the C05t of Living CTi515. the de¢eleration of infl81ion has helped equity price5 to Tecover. whilst prLces continue to lag behind avera8e. The year of 2023 ShO￿d Tealised and unreajised 8ains of £664.586. and the period ￿ 9th May 2024 a fijrther £518,356. Dividend yields remain strong. Tr Trustees acknowledged that the ¢haTitys [￿rOllO reflected a larg¢ incr¢4s¢ in vajue by the ¢nd of D￿ernber 2023 of £l,(K>O.252, and the ¢haritys brc*ers, Ev¢lyn Partners ar¢ to be commend¢d for theii diligent manaBemet)i of the invesunent Mfolio. STRUCTURE GOVERNANCE AND MANACEMEKr Direttors and Trustees The dire¢ior& being Tru5tce5 of the Charity, are named on rA8e l. The Trustees when eomplete C¢y￿lS1 of at leay eight and no more than tswenty-ihree ele¢trd at the Annual General Meeting. The Trusiees. who are considered kn be the key mat)aganeni of the Charity, received no r¢mw)eTation for their s¢rvices. Appolntment. Indu¢tioll ityd Tr8ining orr4tw Trustees All Trustees are apwinied from th¢ senior ranks of Frcemason5 in Warwickshire. eonsideration having ken given to their known assiduity and business-like approach to Masonic charitable mattws. their induaion. ￿Ining and experien¢e having Ixen gained, for the Th￿$1 part, by charitable aciivities in their individual Ma￿TriC Lodges. THE WARWICKSHtRE MASONIC CHARITABLE ASSOCIATION LIMITED REPORT OF THE TRUSTEES (¢ontittued) FOR THE YEAR ENDED 31 DECEMBER 2023 Rel2ted PArti¢$ Connttted Cb*rity Details of ihe Telated parties and ihe ujnnectrd charity. o1(thg with infornwion rtl&in8 to IFaJksactions with them. are set out in not&% 18 and 19 to ¢he financial 5taiements. Organis4tion The Ch8rity 1$ Organised so that tht TDJsteL% mett at least twice a year to DveTsee the management of its affaiTS. S¢>me dethiled a¢tivitLes are delega¢¢d to sU￿0Mmi￿¢t4 e.8. the Investmeni SuW)mmit¢et and the Non-masonic Grants sv￿coMMittee. The Non-masonic Grants Sub-committee ¢onsidets requests for Wistance following pretherniined Cri￿TIa agreed by the Board of Twstees. The adminislratioTh of the Charity is carried out by the Charity Office and is made up of three people. one of whom 15 a paid ernployee, under the direction of the Provincial Almoner. Remuneration is set at what mana8emeni bElieve to be the market rates for the employeds rolt. Fundraising is cMrdinat¢d by the ProYinci¥l Charity Sieward who is supwrted by the individual Masmic ￿d8¢ Charity Stewards. Risk Poliey The Trustees have examined th¢ moior strategies and tspeJ3tional Tisks which the Charity faces and ¢onfimi that SySLems have been established to enable re8ular rem io be produced so that necessary step$ c￿ be taken to lessen these risks. InvestMent Polley All investrneni holdings are managed Strietly in a¢eord8ft¢e with provisions of the Tnjstte Act 2C(rfJ under PTofe5si¢Jnal advice from ihe Charity'5 5tockbrokus, Evelyn Parthe￿. The charity oper4¢e an JDve51ment Su￿rnitte< and hold rn¢eiin8s fouT times a year at whi¢h memixrs of Evelyn Partner5 are invited to discu&s the perfonr&ance of the wjrtfolio. Thc Investment Criteria is between income and lon8 t¢m) gr0￿h. There rs a ¢urTen¢ at)nuo1 income tar8et of £250,0(￿. Th¢ Trusi¢es consider ihe invtstmtnl incorne achieved in the year of£358,244 (YeaT t(} De¢emEtr 2022 £268,804) io be an excellent Teturn. Re$¢ryes Polity RtseT¥es are carried forward to m¢ei any futsjre rAII the Chwity. Sorn¢ is to be invested as and when the TnaTk¢i is suitable io incrthse the annual income of the Chariry. Appllcation of Trustee$, Inv¥tmeot Powers Under the Memorandum and Articles tsf As￿latIon ihe Charitys Tru#ees have wide ranglng ￿wets. The Trust¢ts, however, when purchasing listed inv¢stments. hove ¢omplitd with ihe principles of the Trus*es Invemmeni Aet 1961 in regard LO the quality of individual iTrve5trnents FJ)th to overdll investhient 811￿al)￿n and st￿k selectbon. Ethiral l ESG inve51rnenl is con5jdertd by the Inve5tmen¢ Comrnittce and by the st￿kbrQk¢T5 to be in lin¢ with UN- PRI. Statement of Tru$t¢¢5' Re5PDnsibiliti The Trustees, who are also Directors of the Warwickshire Masonic Charitsble Assrtia(ion Limited for the purtx)ses of company law, are responsible for preparin8 the 8nThual T¢Wrt artd ihe financial $tat¢ments in a¢cordance with applicable law regulations. and United Kingdom A¢¢ouDtin8 Standards {United Kin8iknn Gen¢Tally A¢¢eMed A¢¢cthting Pra¢ti¢e). THE WARWICKSHJIIEMASONIC CHARITABLE ASSOCIATION LIMITED REPORT OF THE TRusfEES {eontiDued) FOR THE YEAR ENDED JJ DECEMBER 2023 StAttmebt of Tru51t¢s' R¢JpwibUlti¢i Icollt'dl Company law requiKs the Chan'ty Tnjsw 10 weF•re fiT￿￿1•1 st•lA￿ents for t*th >rar ￿lich give a faitvi¢w of the state of affoirsof the Charithble Company 8nd th¢ gTOUP andof the Incominsre￿UTC%S and application Orresour￿ includin8 thc income and 'expendkiurt. of Ch3ritsbl¢ Broup for thut preparin8 thc finarKial the Tweu are r¢wiroJ ￿. seled suitsble Accounting N)licies 8nd then ftpply them consiyenuy: obs¢rve the methrxts and principlu of the Chgriiies SORP. m4k6 jydg¢mwts #od ¢&im#t¢s th￿0[¢ rewn8bl¢ and pnthiK Sta￿.Whether app]i¢Bble I¢￿J￿11Th8 have be￿ followe4. subieti ￿ ony deporwres dist10￿1 And ¢xplainEd in the finllncial sthtem¢m prepare the finanthal *ateMuK5￿ the 8oiThg C￿crt that fact. We have nothing to report in this re8ard. Opinion5 on other matters pr¢s¢rib¢d by the CoNp•￿•t5 Art 21106 In our opiftion. based 04 the work undcrtaken in the course of th¢ audit.. Ihe infornation given in the Trustees, Report for the financial year for which the financial staternents are prepared is consisteni with the financial statements- Ihe Trustee5' Report h&s been prepared in accordanc¢ with applicable legal TequiTtment Icontinued io- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBEILS OF THE WARWICKSHIRE MASONIC CHAIUTABLE ASSOCIATION LIMITED (continved) FOR THE YEAR ENDED31 DECEMBER 2023 M*tterJ on whirh w¢ art Rtquirtd to Rtport by Ei¢¢ptio In ihe light of knowledge and understanding of the charitable company and its enwmnment olAained in the COUTse of the oudiL we hav¢ rtot identified materiAI mi&statCmCttts in the Tru5ttt5' Rwt. We have nothing to repc¥t ill Tesp¢¢t of the following mattets in r¢lation to which the Companie5 Art 2[￿ Tequires us to rqm to you if you if in our opinioth.. adequate accounting re￿rdS hav¢ not kepL w returns adequaw for (w audii have w been re4eiv¢d from branches not visitrd by us- or th¢ financial statem¢nts are Jioi in agreemcnl with the accounting records and rett￿s. or certain disclosures of TnJ5tee5' 1 Directors. ￿MuneratIon SKttified by law are made", or we have no¢ rettived all the inforn?ation and explanations we requirt forour audit- or Re5pon$lbilitlu of Tru$t¢¢s As explained more fulSy in IheTnJste¢s' Re$F￿1b1bIti¢s Stalrmenl 5cI oul on ￿8¢ 4. the Trustee5 {who also the Director5 of th¢ charitable company for the purposes of compwy law) aTe reswn5iblc for the preparation of the financial 5tatemenis and for Eting satisfied that they give a irue and fair view. and for such ittiernal corttrol as the trustees, determine is necessary ￿ enable the prepavdlion of financial statements that are free from Ma￿rial misstaiem¢rt4 whether du¢ to fratsd or enoT. Jn Preparing the financial statemertts, the T￿￿*¢$ art re5WLsible for assessing the Charitable comp#ny'5 ability (o ty)rbtinue as a going con¢¢rn. di5closin8, a5 applicable, matters Telated to 80ittg con¢¢rn 8nd using the going ¢onc¢rn basis ofaccouDting unless th¢ Trustees either intend to liquidate the charitsble comwy orto C¢￿ opera¢ion8 OT have ￿ realisiic iliernative but to do so. Auditor'5 Re5pon5ibiJities for tbe Audlt of the Finath¢ial St*t¢ments Our objectives are to obtsin reasonable wurdrt¢e gtx)ut whether the financial ststcments as 8 YAiole are frce from material rnisstaiernent, whether due to fraud or ertor. and io issue an auditor's r¢wt includ¢5 our opini(xJ. Rusonable assuranc¢ is a A high level of a55UTancé. bul is n(￿ a 8uarantee thgE an audit conductrd in accordance with ISAS {UK) will alway5 detect a tnaterial misstat¢mertt when it exists. Missiatemtnts can arist from fraud or eTror •)d are cortsid£red rnatcrial if. individually or in the ag8regat¢, Ihey wuld rworthly k expected to influence the economic decisions of ys¢rs tsk¢n on th¢ basi$ of these fioancial siatements. As part of our audit prncedur4 we eVal￿ale the hi8h•risk 8rea5 of the a551￿meTrt that could pjtentially Tesult in a material mis5¢atemtnt within the aecout)ts. Such risky aT¢as in¢lude w¢nu¢ re¢ognilion. management override and understatement of liabilities. We rnitigatc these risks by a combinaiion of.. obtaitting independent third.paty evidcnce p¢rfomiing artalytical l￿dur¢S to ensure the accounts appear reayjnable rnainlainin8 an air of profe$5ional S¢Wi¢ism thrtyJ8houi the audit pr(w5 challen8in8 management reBardirtg the b#5is of accounting pxblicie5 and any estimates included in the accounts. A further description of (xw re5tonsibtliiie5 for the audii of the financial 5taterncnts is ILKated on the Finarbcial litrK¥tin8 Council's website at". www.fr¢.or8.uklaudiLorsresp)nsibilili¢s. This dexription form5 part of our auditor's rewrt. Use of Our Report This report is made solely to the ¢h8Titsble company's membets. as 8 Eojy. tn accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. OUT audit work has been undertskeo so that we might state to the charitsble company's members Ihose matters we ar¢ required to $tstc io them in an a￿di￿r.5 rep)rt and for no ￿tr purFK>se. To the fvllest xt¢nl ￿Mitted by law. wc do accept or wum¢ r¢sFrf)Jsibilily ¢0 anyone other than the charitsble company and the charitable company's mem￿r$ a l*Jdy, for our audit for this rtF4)rL or for the opinion5 we have forncd. Steven R Mugglestone, Senior Siatutory Auditor For and otl behalf of MiehAel Hanvood & Co ChArtertd Ateount*ryts Statutory AudltOTS Gr¢vllle House 10 Jury Street Warwick CV34 4EW D¥te: Ilth I￿￿¢ 2024 THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED STATEMEwf OF FINANCIAL ACTIVITIES {INCOIIPORATING INCOME AI¥D EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Endowments Funds Re$¢ri¢ted Funds Unre$tri¢¢¢d Funds Total Fynds Note INCOME & ENDOWMEpifs FROM: DonatjOll5 & Legacies Investsnent Ineome 40.000 12219 35,432 346.025 75.432 358,244 Total Income & Endowments 52219 381,457 433,676 EXPENDITURE ON: Raising Funds Charitable Activiti¢s Other Activitie5 <1.476) (4.360) (34,461) (433.620) (33,766) 135,937) (437.980) (33,766) Totsl Resourtes Expended {5.836) (501.847) {507,683) R¢alis¢d Gains on Disposal of Investments 12(c) 174,148 136,097 310,245 Net Income befor¢ UnT¢alis¢d Gains on Investments 174.148 46,383 15,707 236,238 Unrealised gains on Revaluation of Investments 12 (c) 338.245 11.156 4,940 354,341 5 12.393 57,539 20.647 590,579 . Transfer between Funds (154.672) 154.672 NET MOVEMENT IN FUNDS 512,393 197.133) 175,319 590,579 RECONCILIATION OF FUNDS: Totsl Fund5 Broughi Forward 6,491.916 368,983 2.473,085 9.333,984 Totsl Funds Carried Forward 7.fy)4.309 271.850 2,648,404 9.924,563 All amounts relate to ¢onunuinB a¢tiviti¢s All gains and losses have been included alKJv¢" no separate swanent of totsl recognised ￿1n$ andlossts has been presented. Comparative infomiation can be seen on pag¢ 13. The notes on page$ 16 to 29 fonn part of these financial statements -12- THE WARWICKSHIRE MASONIC CHAIUTABLE ASSOCIATION LIMrrED STATEMENT OF FINANCIAL ACTIVITIES UNCORPORATtNG INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 Endowme*ts Funds Rwtri¢t¢d Fund5 Unrestritted Fwnd$ Total Funds Note INCOME & ENDOWMENTS FROM: Donations & Legacie5 Inv¢stment Income 83,833 2&).C(Q 7.196 50,011 261,608 333,844 268,804 Total ID¢om¢ & Ettdowments 83,833 207.196 311,619 602,648 EXPENDITURE ON.. Raising Fund5 Charithble Activitie5 Other Activities {793) (35.912) (316.940) 136.545) 136,705) (316.9401 (36.54SI Total Resource5 Expended {793) {389,3971 (390.190) Realised Gains on Diysal of Investments 12 (c) 177.533 110.606 288.139 N¢t Income ￿fore Unrealised Gains on Irhvestsnents 261,366 206.403 32,828 500,597 Unreali5ed losses on R¢valuation of lrtvestments 12 (c) (854,110) (481,3651 11 J35,475) Transfer between Funds NET MOVEMENT IN FUNDS (592,744) 206,403 {448,537} (834,378) RECONCILIATION OF FUNDS: Total Funds Brought Fon¥ard 7.084,660 162.580 2.921,622 10.168,862 Total Funds Carried Fonvard 6.491.916 368,983 2.473.085 9.333.984 All amounts relate io Continuing athvities All gain5 and losses have been inGluded atx)ve: tio sepaTrte Statement of totsl recognised gaiD5 and105s¢s ha5 ken The note5 on pa8e5 16 to 29 foTm part of these financia] 51altments 13 THE WARwicksHIRE F*fASONIC CHARITABLE ASSOCIATION LIMITED BALANCE SHEET AS AT 31 DECEMBER 202J D¢¢ 2023 Ikt 2023 ¢2021 Dec 2021 FIXED ASSETS 'TBngibl¢.Pixd Awt5 In*estmC5EI PTOFXrties Li4ed Inytstrnents 10 149 208.5CiI 9.581.￿] 12 8.581.349 9,Th1.220 8.789,998 CURRENT ASSETS & Prtpid.exp¢nses CuTr¢ni Ax%¢i Inw¢ffl¢nts Cosh * Bank. 13 14 759 232,033 364J55 108.274 222.689 $97,147 CREDITORS: AN0(kn¢$f￿[lnS due .ii'¢lhin onc y L88.316} NET CURRENT.ASSEIF 134.343 543,986 NET ASS 16 9,924.563 9.333.914 CAptTAiAND RESERVES .CndoiYrncnt fund5. Resirieitd Funds Vnr¢striciel Fund5 7,004.3C 271.850 2.648.404 &491.916 368.983 2,473,085 TOTAL CHARITABLE FUNDS 9.924,563 9.333.984 Thc fir￿￿al 5th1¢¢￿tIll$ w¢re appToY¢d by th¢ Trustees on d ￿tI￿lT behalf br.- P'L Hall-Trnsiee Approv¢d by thc Board Dait: 29th May2024 NuuLbtr402213 The wts on.pap 16 ￿ 29 fomi part of those fin&n¢iol l4- THE wAR￿CKsH[RE MASONIC CHARITABLE ASSOCIATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash tlow from operaling *etlvitie5 Net movement iti funds 590,579 (834,878) AdjustTnents for. D¢pr￿lation Profit on sale of r￿ed assets investments Dividends received (In¢r¢&%eydecr¢as¢ in debtors lncreaspJld￿rea5e) in creditors (Gainyloss on movement in fair value of investments 30 (310.245) (358.244) 759 34.745 (354.341) 37 (286,934) (268,775) 5,000 159 ,335,429 Net flow from operating Actlvities (396.717) (49,962) Cash flow frorn iavesliffjg activities Purchase of fixed 8sS¢t investmenrs Sal¢ of fixed &5set investments Dividends received (1.415.967) 1.080.741 358244 (846.760) 809.424 268.775 Net eash uKd in investing ¥Jctivitie5 23.018 231.439 Net inerea5¢1(decregs¢) in eash and cash eqlllvalents (373.699) 181,477 Opening casb and cash equit*aknts 596,388 414.912 Closin% cash and c85b equivalents 222,689 596,389 Cash #rtd cash equivalents cornpri￿. Cath at bank and in hand Curreni asset investtnents 114.415 108.274 364,356 232,033 Closing c45h amd cash equivalents 222,689 596.389 15 THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED NQTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 COMPANY INFORMATION The Wanvickshire Ma50nic Charitable Asso¢iation Limited is a ¢hority r¢gist¢Yed in England and Wales, Charity No. 211588. It j5 a privale comparty limited by guarante¢ in¢orporaLed, registered and dorni¢iled in England and Wa]es Company No. 402213. The register¢d offjce is: YeA￿n Awmbly Rooms, 73 Gravelly Hill Notrth. Eryling￿n. Binnin8ham, B23 6BJ.' The Charity wa5 con5tLtuted a Company limited by 8U8rantee on 18 December 1945 and is. therefore. 8overned by * M¢morandum and Articles of Asso¢iat¥on. The Charity'5 objects and principlt activities continue to be those ofprornotin8. within the m￿niC Province of Warwickshire, 5UPPOrt of the Mwnic charities. The Charity a]so suppotts non-masoni¢ chariiies as far as funds allow. ACCOUNTING POLICES The A¢wuni$ hav¢ been PTepaTed under the historical cost C4)nvention with i*ms re¢ognised at cost or transa¢Lion value unless oth¢n¥is¢ s¢a¢ed in the relevant not¢(5) ￿ the5c accounts. The fjnancial statements have becn wrparcd in accordance with the Ststcment of Rerommcnded Pra¢iice= Accountittg and Reporting by Charitie5 preparin8 their accounts iTh accordanee with the Financial Reporiin8 Standard applicable in the UK and Republic of Ireland {(FRS 102) (Charities SOtiP (FRS 102)), the Financial Rwrtirtg Stsndard applicable in the United Kingdorn and Republic of Ireland issued ik October 2019 at)d the Charities Aci 2011. The charity con5tLtutcs a publtc bencfit cntity a5 defjntd by FRS IO2. The accounts aT¢ rounded io the neare# £1 and are EKsented in GBP, the furKtional currency of the Charity. Coing toncern The Trustees cort$id¢r that there are no matCTial unrcrtaintie5 about the Charitys abtlity to continue a5 a goin8 concern. There are no significant areas of judgement or key assumption5 that affect items in the fbnancial statements other than those included within the a¢couniirtg policies des¢ribed below: il Listed tnv¢stments are included in the financia] statements at market value at the close ofbusines5 on the last working day of the year under review. ii) Investrneni properties ar¢ statrd at the trustees, estima* of current market va]ue. iii) Any pennaneni dimirtution in the tri]sle￿ opinion. in the value of inv£%tments. will be rttognised in the financial statements immedi2tely. iv) Realised and unreali5ed gains and Ios5e5 of investments are dealt with in the Statement of financial activilic5. Y) The Trustees consider the appTopriatene55 of the holdin8 valu¢ of flxed 8SS¢t5 on a regular b¥is, and th¢ carrying valuè will be impaired to tht appropriate level. 16- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (¢ontinued) FOR THE YEAR ENDED 31 DECEMBER 2023 b) Titsglblt Fixed Assets Tangible fixed assets art stated at cost less (kp[￿la11on. Deprecialion is provided evenly over their expe￿ed useful lives a5 follow$:. Plartt & Ma¢hin¢ry- 21YA Reducing Balance el Curr¢nt AM¢f Inv¢5tments This headin8 refrr5 to cash funds which are surplus to current requirements and are held on detx)sit by our investment advisors Evelyn Partners and earn interem as SU¢￿ bui ar¢ desi￿)81¢4 for instani inv¢stment on the Siock Market should a desirable oprM)rtuniry aris¢, and are therefor¢ nol consider&1 as fom)ing part of the ordinary cash funds of the Charity. d) INcome from Donations & Legxies i) Donaiiorbs are included in the accounts on teceipt. that is usually in the forn) of Gift Aid. and the a&8ociated Income Tax Tecoverablc 15 included when received. Owin8 to the nature of the income. the receipt of donations is considered lo be Ihe p)int at which the ineorne become5 receivable. up until this rx)int there 15 uncertainty surrounding the timing and value of the cashflow, meaning ihai it is not aPPTopriate to recognise the donation. ill L¢g8¢ies are in¢luded in th¢ accounts when written notification h&$ been received and the probate v81ue and legal naiure of the ttyu¢st determined. e) Income from Investmexts i) Dividends, includin8 the associated tax crediis, ar¢ included in the appropriat¢ funds when they be¢ome r¢ceivable. ii) InteresL and nei rental In￿Me, ar¢ in¢luded th¢ appropria1¢ fwids wh¢n they are Tettivabl¢. Pen51fjD Costs The Charity provides a contribuw mney purchase rKnsion scherne for its cmploy￿$. The CO￿ of providin8 the pension scheme is ¢haryed to the statement of financial activities. with the fvnd5 bein8 admini5tercd by trustees independently of the Charitys fJn4n¢es and therefore no Commitment exists than n¢)nnal annual contributions. g} Rtsour¢u ExPe￿ded Expenditure is recognised on an accruals a liability is incurred. The Charity is regithred for VAT purposes, the expendilure being shown inclusivc of any VAT. i) Costs of raisin8 fun(ts comprise of the iThvwment managees fees and any ¢xher costs inwrred by the Charity in the pursuit of incomt. li} Expenditure ort charitable aelivities ¢ornprises those costs irL¢urred by the Charity in delivery of its activities for its ben¢fJeiari¢s, primarily through ¢ash gTants. iii) Grdnts are recogni5￿ when thc Charity bccomes obliged to pay the recipieni thi5 is the earlier of the grant being paid or the TTUStccs cornmunicatin8 to the reeiphents that they have been awarded the 8rant. iv) Support costs are the expense5 incurred by ihe fundions that &85iA in the Work of the charity. but do not directly undertake charitable activitie5. These costs are all￿ated to other exrtnditure. vl Govcrnanee costs include Ihose costs associaied with mtttin8 the constiLuLional and statutory r¢quir¢m¢nts of the Charity and include the audit fe¢ and ¢osts lioked LO the sira*gi¢ managemeni of th¢ Charify. These costs are included. within expenditure on Chan￿ble activiiies. vi) All costs ar¢ allwat¢d belween the eX￿ndIt￿re Categories of the SOFA oth a basis designed ¢0 reflect the use of ihe resou￿¢. Costs r¢lattng to a p￿Icular activity are alkj￿ted direcily. others are aPF￿rtIoned on In appropriate basis. 17- THE WARWICKSHIRE MASONIC CHAIUTABLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENfs (¢otstittued) FOR THE YEAR ENDED 31 DECEMBER 2023 FUND ACCOUNTING The Charity has fund5 which may be put into twy) cate80ri￿ namely income and capitsl tunds. The in¢ome funds are further analysed into restricted and unrestricted fuNl% the capitsl futth into t*rn)8neni and exttndable enik)wrnents. i) Unrestrieted FuDd$ These are funds which the trus¢e¢s may use at their dis¢retion within th¢ rules of the Memorandum and Articles ofA550ciation. The trustees have further divided these fijnds irt￿ funds, sev¢Ai by name of tr￿nefaCtOr, and also operate a General Fund wheTe all manag¢ment and administraiion ¢4)sts aTe ¢harg¢d- Dividing the fvnds in this way 1$ a useful financial discipline. which helps the Charity to make the btst use of resource8 althou8h thue is no le8al foT(Z to these &5i8nations. Dougl*s Hillyard Futsd Dougla5 Hillyard. a member of David Garrick IAMl8e No 4243 and a with)wer. dked in 1991. leaving funds of £1 JS0.CH)O for the 8¢neral use of the WMCA. Archit H*lton Archic Hatton w&$ a meM￿Of Earl t£ofric I￿8t No ￿81. His widow Grctta died in 1993. leavin8 fund5 of £231.588 to the I￿dge. invested in a Reli¢f Chest. Th¢ ￿d8¢ surrendered its warrant in 2012, and funds of £230.￿0 wert transferred for the 8¢n¢ral us¢ of th¢ WMCA. The Chapm*n Fund Nomian Chapman w&5 a member of Fidelity tnd8e No 3708. His wi5es &s agreed between the WMCA and th¢ Almoner of Chevron LA)d8e. Following the c105UTe of that lod%e. the fund5 are available for the xenerdl use of the WMCA. il) Restritted Funds The Charity ha5 funds where the (k)n(% iM]￿d condili¢)n5 upon the use of their fun￿ which are legally binding. Detsils of re5tricled fvnds are shown below. Restritted Funds :_ Warwickshire Subscription Fund The £5,0(K) capital be maintained. The iThcom¢ is to be applied to the subscriptions of M￿tIS in tempyary distres5, who would otherwise ￿ losi io Freem&sonry. R M London Members, Sub5tription Fund The £8.4(K) capital rnu51 be maintained. At the discretion of the Tru5tee5 the income may be applied to the subscriptions of Masons in distres5. not covered by the Warwickshire Subscrimirffi Fund. F V Weller. MBE Fund Vernon Weller was a memFKr of Geor8e Beech ￿ge No. 2897 who died in 1995, leaving fvnd5 of £78.132 in the care of the WMCA.. The incorne 15 to be applied to the Warn¥i¢kshire Masonic Be[￿¥0]ent Fun AR West Fund Funds re¢eived in 2022 from the ￿tate of Anthony Wesi of Guys Cliff¢ ￿g¢ No. 8874 ar¢ to b¢ h¢ld on behalf of lh¢ Lodge for the benefjt of charitLCS nomlnattd by the L*. 18- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL sfATEMENTS (¢ootinued) FOR THE YEAR ENDED 31 DECEMBER 2023 FUND ACCOUNTING (colltinued) E￿dOW￿eTrl funds Pennaneni endowments are made vp of donated fijnds where the donor has ￿lpula￿ that the capital mus¢ be maintained. Currently there are only pemianeni endowments where the income gencrdfe41 must bc applied for specific PUTP)ses (see Restri¢t¢d Funds on previous pa8e). Expendable endowmertls consist of fvrtds that rarry no re5tridions as regard rn3iniair)ing the initial Capi￿ but which the irusiees have chosen to invest in oid¢r to provide the Charity with future itlcome. to be distributed either in accordance with thè resiTiaions relating to each of Lhe funds or, irt ihe of the D B Hillyard Fund #t the discretion of the trustees. It is the Charitys policy to invest large bcque5ts. See note 4 ￿loW for detailsof Endowrnent Fund atlalyxs. ENDOWMENT FUNDS FV W¢ll¢r MBE Fun W*rks Sub5 Fund Loltdon Subs Fund (a) PerniAn¢nt EDdowwnts Tot#1 Balance at 31 December 2022 82,220 8,400 95,620 R¢aJised profil l{Ic6s) on dsswsaj of listed InvesttneThts {453) (453) Increase in MV of lisi¢d Inves￿¢nts 9.￿&5 9.095 Balance ai 31 December 2023 90.862 8,4(N) 104,262 Mr5J Chapmn Fund Exrl Ixofrl A Hattott Fufyd DB Hilly#rd K&M Wood¢hwmeni Funds'Total 7,004,309 Detsils offvnds thd Tt5trictions may be found in rt0￿ 3. -19- THE WAKWICKSHIRE MASONICCHARtTABLE ASf(KIATION LIMITED NiyfES TOTHE FINANCIAL ¥fATEMENfs{<•#ti*•ed) FOR THE YEAR ENDED JI DÈCEMBÉR 2023 RESTRlCftD FUNDS AR West K&M Fw Tr Tothl Incwe.. Donations￿￿01￿3 In¥eslmentlr￿0mt 4.J2 45 4129 51219 Dtsnat1o￿ P￿& Expendimte (iJ&)) 1643) (4)￿1 1495) 1.167 ).034 46.383 RdiSedfj￿ftsonDls￿ 51038 1167 17.943 363.983 Z5L038 I￿.672 426J22 TNn5f¢r¢oUnrEYActedFun FolhwingC105Uteofthe L IIY.6n> ILY.6721 B￿1￿￿￿r￿31 D￿￿brr2023 251038 19NIQ 271,850 THE WARWICKSHIRE hlASONIC CHARtTABLÉ ASSI1￿A￿TI LIMrrED OTESTOTHE FINANCIALsfATEMENThlt•Mll*v¢d) FOR THE YEAR ENDED 31 DECEMBER2 6. UNRLgTRICTBD FUNDS DBHiUyMrf r5J artl%ofr K&M TIMII rotsl J5.432 75 Z9h36 J46.025 2319 29ffi36 433MO 41914 43J.620 68,227 4.7 927 477J9¢ 18J71 4.741 917 SQl.847 136.097 Nriln¢wnrllE¥¥thliDu¢) (2)Q2%1 214.•79 24115 15.707 245365 1714.• 124*81 005urrvfLAxtrNoWII 154.671 I5L6n 154.672 2.473.NS 2.47J.085 2.49J.n2 IY.672 2.648.404 THE WARWICILSHIRE MASONIC CHARrrABLE ASSOCIATION LIM￿ED NOTES TO THE FINANCIAL STATEMENTS (cotttinuedl FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME FROM DONATIONS AND LECACIES YeAr to 2023 Total 2023 2023 2023 Eodowmt*t Rtstricted Unrestricted Donations Lega 35.432 35.432 40,1)00 40.(KJO 40,IKKI 35,432 75.432 The restricted le8acy of £40.(M)O re¢¢ived in May 2023 repr￿nts th¢ final distribution from the estste of Anthony West of oU￿S Cliffe Lodg¢ No. 8874 and was in addition LO the £200.0(M) (below) rtccived in November 2022.This legacy is to be held on behalf of the ￿Be for the i*nefit of ¢haTitie5 nominaied by the EA)dg& Year to De¢-22 Totsl 2022 EndowThent 2022 Restricted 2022 Unrestritied Arislngfrom.. Donations Lega¢y 50,011. 50,01 283,833 83.833 2(M>.LN)O 83.833 200.( 50,011 333.844 Th¢ endowrnent le8acy of £83.833 represenied the fjnal diwibuiion from the Ewle octhe L4le Mrs Jean Chapman, and was in addition to the £1,260.¢MX) received in recent years. & INCOME FROM INVESTMENTS Year to D¢¢-23 Total Dec-23 Re5trici¢d D¢e-23 Unre5tritt¢d IDV¢$tment propertie5 Lis¢ed investments Cash investments 87,450 256,252 2,323 87,450 268,471 2,323 11219 J2.219 346,025 358244 The Investment property incrmne it)¢lud¢s a premium Of£7].(￿ received foT the extension of the leksE to tsvo of the charitys leasehold properties. Unrestrieted donations include £9,320 in (knotions to this charity ftr OTganisingthe NatiOTwI Masonic Bowls comFttition. The surplus funds arising from thts ¢omWiti¢Jn will bc thThtcd to local tharitie5 at the discretic￿ of the tnjstees. Yur to Dec-22 Total Dee.22 Restrltted Dec-22 Unrtstricted Arisingfrom.. Invesirnent properti& Listed investments C&sh investments 12.544 248,793 271 12.544 255.989 271 7.196 7.196 261.608 268.804 THE WARWICKSHIRE MASONIC CHARITABLE A&SOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 9. ANALYSIS OF RESOURCES EXPENDED Year to D¢¢¢mb¢r 2023 Total Cost or R*bittg F￿ndS Charit8bl¢ Attiviti¢s S•pport Costs Grants and donations (Note 17) Stsff costy recruitmenL travel ¢tc. Office reTht and costs I.T. Support Postsg¢ and stationcry M1￿clIaneoUS expenses Telephone charges Festival ctlebration expenses Audit fees Professional fees Investment management fees- G¢n¢Tal Fund Investment management fees- Other Fwid Bank char8es and interest Depreciation Easter ¢ggs 437.W60 437,980 9,528 1,679 2,320 963 3,086 128 2,862 6.786 2.768 10.208 25.729 224 30 3,392 9.528 1.679 2,320 963 3,086 128 2.862 6.786 2.768 10208 25,729 224 30 3J92 35,937 437.980 33,766 507,683 Year to D¢¢ember 2022 Cost of Raising Funds Charit*bl¢ A¢ttviti¢S Support Co$t$ Grants and donations (Notc 17) Staff costs. recruittnent, travel ¢t¢. Office rent and costs l.T. Support Postage and stationery Miscellaneous expenses Telephone ¢harge5 Audii fees Profession￿ fees Investment management fees- General Fund Invtstrnent mana8ement fees- Oih¢r Fund Bank char8es and interest Depreciation 316.940 316.940 14.454 .745 ,578 486 5,231 247 6.654 5,893 10,774 25,931 220 37 14.454 1.745 1,578 5,231 247 6.654 5.893 10.774 25.93 1 220 37 36.705 316,940 36.545 390,190 THE WARWICKSHIRE MASONIC CHARrrABLE ASSOCIATION LIMITED NOTES TO THE FINANCLtL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 21123 ANALYSIS OFTrESOURCLS EXPE]¥DED (¢ontinued) All support costs have beeTh allttated to Oth¢r A¢tivt¢ies ¢osts within the SOFA. This olto¢alion is consistent with that in the Pri￿ year financial statements and has been ad¢)pted on the basis that ihe ¢xpenses r¢lat¢ io genera] administrative costs of running (he charity rather than to costs incurred in the making of grants OT raising funds. Includcd within the resources ¢xpend>J aTe'. Year to D¢e-23 Year to D¢¢-22 Staff emoluments Auditors remllneration Depre¢iatLon of owned assets 9,528 6.786 30 14,454 6,654 37 Th¢ adminisiTation of the Tharity is carried out by the Charity Office and is made up of three pwle. one of whom is a paid employe< und¢T ihe direction of the Provincial Almon¢r. With efYe¢t from January 2020. the salary costs were borne equally between the charity and its connected charity, WaTwi¢kshire M￿￿1¢ Benevolent Fun¢£ hence staff costs are much lower this year compared to earlier years. The employees are ttot ¢(Jnsidered to bc key Mar￿￿¢ment. No employ¢¢ was paid £60.&)O p.a. or m¢)re. No remuneration and travelling expenses were paid to tru￿¢¢$ durin8 the year. l December 2022- ENIL). The trustees are con5id¢r¢d to be the key mana8ement personthel of the ¢haTity. Durin8 ihe year an average of 3 5tsff { De¢¢mttr 2022- 3) were directly employed by the charity in administrative functions. 24- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LtMITED NOTES TO THE FINANCIAL STATEMENTS {contiDued) FOR THE YEAR ENDED 31 DECEMBER 2023 10. TANGIBLE ASSETS Plant & Matknlthery CO￿ at 31 De¢embeT 2022 34,424 Cost at 31 D¢cembeT 2023 34,424 Depreciation at 31 Decembcr 2022 Char8e for the year 34.275 30 Depreciaiion at 31 December 2023 34.305 Nei Book Value at 31 D¢ttmber 2023 Net Book Value at 31 Decanbu 2022 149 11. tNVESTMENT PROPERTIES Open Market Valut JI December 31 December 2023 2022 Pro rties of Ttn¥re Readin8 Coun Tiddington Warwickshire Leasehold Ground Rent Shop premises Warwick Roa4 Greei Birniin8ham Millfitld Court Henley in Arden Wanvi¢kshire Fre¢hold 137,5 137,500 Le4sehold Gr￿jnd Rent 70.(MXI 70,000 In the opinion of the dir¢ciors the Open Market Va]uc at 31 Decemi%r 2023 wwld total 208.5 208,51 Carrying walue as at 31 DeeemtrKr 2W23 208,5 208.5 In order to deiernine lh¢ open markei value of the investment ryotKrties, the dirwtors ¢nga8ed Simon T. ike, CBE, FRICS, FRVA of Shaw. Gilbert & Frogatt (Chartered Surveyors) ¢0 cary out a valuation in Mar¢h 2021. Simtyi was noi an employee of the chariry. following his rdlreme￿r. the pryrty manageEneni has i*en pwed to C(thns. Chartered Surveyors. FAsed in Birmingham. In the opirtion of the Trustee5. the rnarktt value of th¢ investment pmptrties at Dettmber 2023 is similar lo the valuation Ca￿led tyji at Mar¢h 2021, and iheTEfoTe nD adjustment to the valua11￿ has been retle¢Led in these financial Statements. The leas¢hold inter￿t in the Readin8 C(M￿ property is subject to a F¢pFreorn r¢nL -25- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (conlinued) FOR THE YEAR KNDED 31 DECEMBER 2023 12. LISTED INVESTMENTS C05t M*rk¢¢ Value Dec-23 Dec-22 Dte-23 Det-22 General Fund DB HÉllyard Fund FV Weller. MBE Fund K&NI Wwdthorp¢ Trust Archie Hatton Fund Jeath Chapman Fund AR West Fund 2.289,225 3269.830 66.499 122,489 208.795 1.180.215 235.614 2.129.427 3.080.166 67,130 106.037 187,059 .155.547 2.701.142 4.861.600 88,720 139,934 243,700 1.299,736 246.769 2,535,933 4,534,133 80.257 108.127 227,234" 1.095.665 7.372,667 6.725,366 9,581,fA)I 8,581,349 Re51ri¢tlon over realisation of ￿ets Thert are no significan¢ resirictsons over the rtalisation of investTnents other than the inve5tTnents rnaking up the FeTm#nent tndowments of the Charity which, if r￿l$ed, must be reinve￿￿ in distinguishable &wts unless a dispensation is obtained to do oth¢rwis¢ from the Charity Commissioners. Aggregate v8lue split betwttn". Market Value Dtt-23 Dtc-22 Dtt-22 UK listed investments European listed investments North American listed investments Far Eastern listed inve5tment5 LI￿¢d inv¢stments- Rtst of World 4,760.622 420.741 948.566 598,029 644,709 4.243.382 481.036 830,286 642,002 528,660 6,046.798 573260 1.300.553 836,014 824,976 5,409.448 864.738 678,724 628,271 I.1)00,168 7.372.667 6,725,367 9,581.601 8,581,349 (•) struc￿re of listed investment portfollo Market Valu¢ Dtt-23 Dee-22 Dtt-22 Directly investtd in listed securiti 7J72.667 6.725,366 9J81.601 8.581,349 7 J72.667 6.725.366 9.581,601 8,581.349 b) MAteri•l holdiogs lover 5Yo of portfolio vglue) Mirk¢t V*lu¢ Dtt-23 Dec-22 D¢¢-lJ None 26- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 12. LISTED INVESTMENTS Icontinued) c) Mov¢mtnt in nJ*rkttvalut of Jisted inve5tMents Restrlcted Expendable Elldoivments Unrestricted Total De￿23 Market value as at.1 January 2023 Purchase5 at Cost Sales at market valu¢ Realis¢d PTofitslllossesl D￿rease in market value 2.536.405 442.273 (418,572) 136,097 4.940 6.045.384 973,694 {662,1691 174,148 349.401 8.581,789 ,415.967 11.080,741} 310,245 354,341 M￿k¢1 value as at 3 l De¢emb¢r 2023 2.701.143 6.880,458 9,581.601 Restricted Expendable Endowments Uthre5tri¢t¢d Total Det-22 Market value &8 at l January 2022 Purchases at C05t Sales at markel value Realised profiW(losses) (DccreaseyincTe4se in markd value 2.829,557 430,385 (3532501 110,606 {481.3651 6,762.950 415.171 (456.128) l77.533 (854.1101 9,592,507 845,556 1809,3781 288.139 11,335,475) Market valu¢ as at 31 Decembtr 2022 2,535.933 6,045,416 8,581.349 J3. DEBTORS D¢¢-23 Det.22 Other debtors and prerrdyrnents 759 759 14. CURRENT ASSET INVESTMENTS Det-23 Det-22 Held on deposit by stockbrokers Held on detx)5jt by Relief Che* Scherne 96.598 11.676 222.884 9,149 108.274 232.033 -27- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (¢oll¢inued) FOR THE YEAR ENDED 31 DECEMBER 21 15. CREDITOILS: #mounts falling due witbin one year Det-22 De¢-22 Other crediiors and a￿ryO1$ 88,346 53.,161 88.346 53,161 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2023 2023 Restrititd 2023 Unr¢stricted At 31 Dee 2023 Tot*1 Tangible Fixed Assets Fixed Asset Inv¢stmertt Prop¢rti¢s Ftxed Asset Investmen CurTent Assets Curyent LiabilitLe5 119 208,5 9.581.601 222,689 188.346) 208,5 6,405,035 390.774 335,4 2.841.076 (168,085) {24,706) (63,6401 Net Asset$ 7,(KM.309 271,850 2.648.404 9.924.563 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2022 2022 Restritted 2022 UllTeslri¢t¢d At 31 D¢¢ 2022 T0141. Elldowments Tangible Fixed Assets Fixed Asset Investkn¢rtt Properties Fixed Ass¢¢ Investments CunEnt Assets Curren¢ Liabilitie5 149 149 208,500 8,581,349 597,147 208,5(X) 5.857,032 426.384 188,384 21N).OCiI (19.401) 2.535,933 (29.237) (33.760) Net Assets 6.491.916 368.983 1473,085 9,333,984 17. GRANTS AND DONATIONS PAID 21123 Restricted 2013 At 31 Dec 21123 Total Unrestricted Charithble .. Non-masonic {103 in numtr*r p¢r pa8e5 6 to 9) Masonic.. General (7 in llurn￿r- see below) Charitable- Donations Paid re Eathquakes and Fl(Kvts {See Page 29) Charitabl¢ Don•ion r¢ Middle East {See Pgge 29) 189,620 197.000 37,(KN) 10,000 433.620 189,620 201,360 37,￿0 lo,￿0 437,980 4JOO 4.360 The grants made by the charity during the peric4J end¢d 31 December 2022 consix of: 202Z Re5trieted 2022 Unrestrit¢ed Al JI Dec 202Z Total Charitabl¢ '. Non-Masonic1114 in number pcr p88e$ 6 to 9) Masonic.. General (5 in number- see below) Charitable- Donaiion5 Paid re Ukraine Appw] Other Charitable t￿n￿lonS (See P88e 29) 170,440 114.000 32.000 500 170.440 114.000 32,000 500 316.940 316.940 28- THE WARWICKSHIRE MASONIC CHARITABLE ASSOCIATION LIMITED NOTES TO TIIE FINANCIAL STATEMEr￿s {¢optioued) FOR THE YEAR ENDED 31 DECEMBER 2023 Y¢*r to Dec.23 Year to D¢e-22 17 al MASONIC GRAP￿$ Th¢ M￿OnIC Grants made during the period con5iStof the following.. Cov¢ntry Ma50nic Pantymime ApF Lifelit¢s The Royal M8sonie School for Girls Masonic Charitable Foundation 2023 Festivaj Guys, Cliffe Lodge No 8874 M&%onicCharitsble Foundation Knowle M&%onic Centre Con￿￿nity Fth)d 3.￿0 7.500 500 185.fy)0 4.360 500 500 201,360 2.000 5.000 500 106.000 500 I14,IK)O Year to Dtc 23 Insiltutioos Year to D¢¢-22 Grants to non.May>nic ChaTitiES to suppwt th￿￿ objects Grants to supp)rt Mayjnic causc5 189.620 201.360 170,440 114,(x)O 390.980 iO.(MX) 27,(MKJ 10,( 284.440 Donation rt Libyw] Fl(KMts DonalioThs reTurkeylSyria & Moro¢¢o E•thquakes Donation re Ga2al.tsrael Donation5 paid re UkTaine AP￿￿l Other Charitabk Don￿10￿$ 32.C￿0 500 437,980 316,940 Th¢ ￿lplEnts of institution￿ gTants ￿e disclose4 on pages 6 to 9 in rel*ion io nOn-m￿niC gTants and in Wotr 17a in re]￿lon 10 MasoDi¢ Grants. OtfKrch4ritable don￿10￿5 in the 2022 fmaftcia] yetrJeJat&l to a£51YJ I￿￿10M 10 G*dn¢¢$ Tn]y for the Blind. 18. CONNECtED CHARTrY A5 Stated In the Tntsiee5' ReporL tt(ause of its Incorr￿ated the Chatity xts ￿ the tKJminee investm*)t holder for Wanvickshirv MawniG B¢n¢voiu¢ Fund {an UnirKoTWratr￿ ￿gIS￿red charity} wk6e investm¢nts Y￿u¢ to￿ £4,465,078 4t D¢cwb¢r 2023 {Decc4nE¢r2022- £4.150J46). Up until De¢ecemt*r 2019 it ajso I￿vided adrninistrJtiV¢ SUP￿)r[ by t￿ring th¢ rowi of ih¢ CknTitigS' shared prfmis¢5 and staff. From the year io D¢Cern￿r 2020 t]￿ prunises and stsff COSLS wete knMeequ￿lY by the rwo charities and for Ihe year unde£ rcview amounted to £14,618 (Year to Dettml*r 2022. £16.199) (S¢¢Not¢ 9). BNh Charities are subject to the ¢ontml of several of the same Trusts￿ but areoFvAoI as 5¢PaTa* distin¢t Chariti¢5 having difftrent tonstitutions and r¢gU￿10n5 with thcChaTity Commissiornrs. 19. RELATED PARTIES Th¢ charity paid r¢ni wtd service chaw ￿ include utilitie& at rate to the Ptovinciai Grand l￿dgeof Worwi¢kshirt. Comtn¢ncin8 with tlK yw to D￿XMbcr 2020. kn chlrges were shared equally with Warwickshire Mawnic Benevol*)i Fund and forthe year underreview the charitys share of these c4JSts *rtounied to £1.679 (Y¢ar ty DwLt¢r 2022 £1,745). 20. POST BALANCE SHEET EVENTS Folk)wing the approv4J of the chlln.ty Commi55iortt4 antw ch¥ity. the Warwi(*shire FTe¢M￿ns, Chariiabk Foundatiort has L%en formed. 10 adopi the TtsP)nsibilities of the Warwickshire Mag)nic chari￿k AssociaT*)n Limited and ofthe W8rwickshire Ma50nic BaKvolent Fund. Thc as5eis and liabililies will ￿ ttarL8ferrtd a% othat relevant approval ha5 bEcn received from thE Cmmi&sM)n. Ytar to D¢c-23 Ytar to D¢e.22 21. Ir¥coME FROM D. & IULLYARD FUND Dividends rettivoj frrn Stocks and Shaffs Rents received rtetof agents fe¢s oDd ¢XF¢R5fS Pre￿luM rettiv¢d OD ¢xt#15ion of ]ease WiL%J 145.537 16.450 71.IWO 149.894 12,544 232.987 162.438 -29-