Brethren, I present the Annual report of the Trustees of The Warwickshire Mark Benevolent Fund. The Trustees of the fund are as follows: - Fund this support can be given in a speedy manner. Please contact your Lodge Almoner or the Provincial Grand Almoner for further information in the first instance. ## **Ex-Officio Trustees** R. W. Brother Philip Wills, Provincial Grand Master (President). V.W. Brother Michael D. Saxon, Deputy Provincial Grand Master. W. Brother Andrew R. Armbrister , Assistant Provincial Grand Master. V. W. Brother Gareth Hughes, Provincial Grand Secretary. W. Brother R. Nigel Clemson, Provincial Grand Charity Steward, Secretary. W. Brother Paul F. Mason, Provincial Grand Almoner. W. Brother Nigel J. Bridges, Provincial Grand Treasurer, (Vice Chairman). ## **Nominated Trustees (Elected Annually at the Provincial Meeting)** V. W. Brother J. Stephen Wright, Chairman. W. Brother J. David Evans, Treasurer. The Fund has continued to support the Mark Benevolent Fund with their appeals. This year has been unprecedented with a total suspension of Masonic activities from the 17[th] March 2020 until September, followed by a further period of restrictions. This has resulted in most Lodges being unable to carry out their regular ‘Charity Box’ collections owing to the pandemic. As you can see from the Annual Financial Statements, we continue to make several smaller grants to local and national charities working in the Warwickshire Provincial area. We review these grants each year. If you know of a group or charity that may need our support, please speak to the Provincial Charity Steward or the Provincial Almoner who will advise you of the procedure to follow. We provided a Park Bench for the Little Aston Recreation Ground Association for the benefit of the community in that area as a fitting memorial for the late W.Bro. Wynn Jones and Mrs Mary Jones who so generously left a legacy to the WMBF in their wills. W. Brother Cedric F. Stiles. W. Brother Neil E.A. Watkin. ## W. Brother Paul J. Hayward. In fulfilment of the objects of the Warwickshire Mark Benevolent Fund we can assist any of our brethren or their families at a time of need, owing to hardship or distress. In keeping with the ethos of the Mark Benevolent During the summer, the Trustees became aware of an appeal to raise £3.5M by The Birmingham Women’s Hospital. This money is required to build and furnish a dedicated facility to support mothers and their families who had been the subject of a miscarriage, still birth or neo natal death. At present these women were treated on the existing wards, in some cases next to mothers and their new babies. An appeal was made to the Mark Benevolent Fund and they in turn agreed to fund the ‘drop-in centre’ at the facility up to £100,000.00. Brethren your money in action. WMBF funding comes from you in the form of your charity collections within Lodges, the collection at Provincial Grand Lodge together with the income from our investments and endowment income. To this must be added the monies raised by your support of the Provincial Social events. Please support them and bring your friends. On a final point, can we again thank all the Lodge Charity Stewards and Almoners for their tireless work during the last year and in some cases this service has extended over many years. This loyalty and devotion to duty is greatly appreciated. This year’s Annual General Meeting of the Province will see a change as Provincial Grand Secretary. V. W. Brother Gareth Hughes is standing down. He will be replaced by W. Bro Ian Belshaw which will require a change in the board of trustees as the office of Provincial Secretary is an Ex officio Trustee appointment. V. W. Bro Gareth has been a trustee of The Warwickshire Mark Benevolent Fund since 2008 some, 12 years both as Provincial Grand Secretary and Assistant Provincial Grand Master. The board of trustees wish Gareth a happy retirement from the board and wish him well in his future endeavours. |Marie Curie Cancer Care Solihull Hospice|£100.00| |---|---| |MaryAnn Evans Hospice Nuneaton|£100.00| |Shakespeare Hospice Stratford-on-Avon|£100.00| |Muscular DystrophySupport Centre Coventry|£100.00| |Midlands Air Ambulance|£100.00| |Warwickshire and Northants Air Ambulance|£100.00| |Warwickshire and Solihull Blood Bikes|£250.00| |Masonic Trout and Salmon Fishing|£100.00| |Samaritans Birmingham|£100.00| |Scouts, 53rdBerkswell Troop|£100.00| |Scouts, CoventryTroop|£100.00| |Scouts,Knowle Troop|£100.00| |Scouts,RugbyTroop|£100.00| |Scouts, Solihull Troop|£100.00| |CoventrySea Cadets|£100.00| |Solo Opportunities Solihull|£100.00| |Berkswell and Balsall RFC Juniors|£100.00| |Ataloss|£250.00| |Little Aston Recreation Ground Association|
£850.00| R. Nigel Clemson Secretary Warwickshire Mark Benevolent Fund |Kent MBF Festival2019|£1,000.00| |---|---| |East Lancashire MBF Festival 2020|£1,000.00| |SurreyMBF Festival 2021|£1,000.00| |Warwickshire Craft Festival 2023|£1,000.00| |CoventryMyton Hospice|£100.00| |John Taylor Hospice Erdington|£100.00| **Registered Charity No: 213476** ## **Warwickshire Mark Benevolent Fund** **Trustees’ Report and Financial Statements** ## **31 August 2020** **Warwickshire Mark Benevolent Fund** ## **31 August 2020** |**Contents**|**Pages**| |---|---| |Trustees’ Annual Report|1 - 3| |Independent Examiner’s Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Accounts|7 - 11| **1** # **Warwickshire Mark Benevolent Fund** # **Trustees’ Annual Report for the year ended 31 August 2020** The Trustees present their report and accounts for the year ended 31 August 2020. ## **Reference and Administrative Information** The Trust is registered with the Charity Commissioners No. 213476 on 6 December 1962. The main address for contacts is: 20 Henley Crescent Solihull West Midlands B91 2JB The Trustees at 31 August 2020 were: J S Wright C F Stiles N E A Watkin J D Evans M D Saxon R N Clemson P Wills N J Bridges A R Armbrister P F Mason P Hayward G Hughes ## **Structure, Governance and Management** The Trustees are recruited and appointed in two ways as Ex Officio Trustees, by means of The Provincial Office they hold and elected Trustees nominated, as such by the Provincial Grand Master and Trustees but voted upon by the members at the Annual Meeting. ## **Objectives and Activities** The Charity’s objects are to provide a relief fund for and support to other Masonic avenues of financial relief for the beneficiaries and to make donations from the fund to Masonic and non-Masonic charities. Whilst undertaking the above mentioned activities the Trustees had due regard to guidance published by the Charity Commission on public benefit issues. **2** ## **Warwickshire Mark Benevolent Fund** ## **Trustees’ Annual Report for the year ended 31 August 2020 (Continued)** ## **Achievements and Performance** During the year ended 31 August 2020 the fund made grants and donations of £16,614 (2019 - £35,103) to Freemasons, their dependents and non-Masonic charities. Masonic meetings were suspended at the beginning of March 2020 so members were not able to make regular periodic charitable donations to the fund for six months of this financial year. Accordingly the voluntary donations from members show in the reduced figure of £17,329 compared to £21,577 in the previous year. ## **Financial Review** During the year ended 31 August 2020 the Charity received donations, investment income and tax refunds amounting to £33,768 (2019 - £41,675) of which £20,082 (2019 - £38,557) was spent in pursuit of the Charity’s objectives. At 31 August 2020 £426 (2019 - £28,304) was held as Unrestricted Funds and £425,879 (2019 - £428,294) was held as Restricted Funds. ## **Reserves Policy** The reserves are carefully regulated by the Board of Trustees to ensure that adequate financial resources are available to support the Benevolent Fund’s short-term and longer-term commitments. Reserves are held in both cash (bank account balances, balances held by the fund’s stockbrokers, and balances held within the Masonic Relief Chest Scheme designated as being held to the Order of The Warwickshire Mark Benevolent Fund) and in stocks and shares and other investments managed on the fund’s behalf by Redmayne Bentley LLP (stockbrokers). ## **Trustees’ Responsibilities** The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements the Trustees are required to:- - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time, the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity Accounts and Reports Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. **3** ## **Warwickshire Mark Benevolent Fund** **Trustees’ Annual Report for the year ended 31 August 2020 (Continued)** The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Approved by the Trustees on 26 February 2021 and signed on their behalf by: .………………………….. **J S Wright Chairman** **4** ## **Independent Examiner’s Report to the Trustees of Warwickshire Mark Benevolent Fund** I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2020 which are set out on pages 5 to 11. ## **Responsibilities and basis of report** As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent Examiner’s Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached. Mr S E W Tranter Chartered Accountant Brook House Moss Grove Kingswinford West Midlands DY6 9HS 26 February 2021 **5** ## **Warwickshire Mark Benevolent Fund** ## **Statement of Financial Activities For the year ended 31 August 2020** |||||**Total**|**Total**| |---|---|---|---|---|---| ||**Unrestricted**||**Restricted**|**Funds**|**Funds**| ||**Notes**|**Funds**|**Funds**|**2020**|**2019**| |||£|£|£|£| |**Incoming Resources**|||||| |Voluntary income|||||| |Donations||17,329|-|17,329|21,577| |Gift Aid Tax Refunds||2,490|-|2,490|1,832| |Dividends and interest on|||||| |investments|2|8,014|5,935|13,949|18,266| |||______|______|_______|_______| |**Total Incoming Resources**||27,833|5,935|33,768|41,675| |||=====|=====|======|======| |**Resources Expended**|||||| |Charitable payments|||||| |Grants and assistance|4|16,614|-|16,614|35,103| |Administration||2,003|1,465|3,468|3,454| |||______|______|_______|_______| |**Total Resources Expended**||18,617|1,465|20,082|38,557| |||______|______|_______|_______| |**Net incoming resources before transfers**||9,216|4,470|13,686|3,118| |Unrealised gains/(losses)||(14,542)|(23,973)|(38,515)|(2,222)| |Realised gains/(losses)|5|(2,552)|(2,912)|(5,464)|(8,549)| |Transfers between funds||(20,000)|20,000|-|-| |||______|_______|_______|_______| |**Net movements in funds for the year**||(27,878)|(2,415)|(30,293)|(7,653)| |Total funds brought forward||28,304|428,294|456,598|464,251| |||______|_______|_______|_______| |**Total funds carried forward**||426|425,879|426,305|456,598| |||======|======|======|======| **6** **Warwickshire Mark Benevolent Fund** ## **Balance Sheet - 31 August 2020** ||||**2020**||**2019**| |---|---|---|---|---|---| ||**Notes**|£|£|£|£| |**Fixed Assets**|||||| |Investments|5||352,586||420,233| |**Current** **Assets**|||||| |Cash at bank and in hand||73,719||36,365|| |||______||______|| |||73,719||36,365|| |**Liabilities: (amounts falling**|||||| |**due within one year)**|||-|-|| |||______||______|| |**Net current assets**|||73,719||36,365| ||||_______||_______| |**Net Assets**|||426,305||456,598| ||||======||======| |**Funds of the Charity:**|||||| |Unrestricted Funds|||426||28,304| |Restricted Funds|6||425,879||428,294| ||||_______||_______| |**Total Funds**|||426,305||456,598| ||||======||======| and signed on their behalf by: …………………………………. **J S Wright Chairman** **7** ## **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 1 **Accounting Policies** - (a) The accounts have been prepared under the historical cost convention in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP 2019 (FRS 102)) and comply with these Charities (Accounts and Reports) Regulation 2005 issued under the Charities Act 2011. - (b) Voluntary income received by way of donations and gifts to the Charity is included in full in the Statement of Financial Activities when received. - (c) Listed investments are stated at market value less any provision for a permanent diminution in value since the balance sheet date. - (d) Realised and unrealised gains and losses on investments are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and the values transferred in on purchase date if later. Unrealised gains and losses are calculated as the difference between the market value at the end of the period and the transferred in value or purchase date if later. - (e) Charitable grants are accounted for in the year in which they are paid. All other expenses are accounted for under the accruals basis. Support costs represent the cost of the general administration functions of the Charity. Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. Expenditure includes any VAT which cannot be recovered, which is reported as part of the expenditure to which it relates. - (f) Unrestricted Funds compromise those funds which the Trustees are free to use in accordance with the charitable objects of the Charity. The Restricted Funds represent those assets which must be held permanently by the Charity, principally investments. Income arising from the Restricted Funds can be used in accordance with the objects of the Charity and is included in unrestricted fund income. Capital gains and losses arising on the investments form part of the Restricted Fund. - (g) Income from investments is accounted for in the year in which it is receivable. Interest on bank and stockbroker deposits is accounted for in the year which it is received. - (h) As a Registered Charity, no liability to taxation arises. **8** **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 2 **Investment Income** ||**2020**|**2019**| |---|---|---| ||£|£| |Dividends and fixed interest receipts|13,854|18,180| |Interest received|95|86| ||______|______| ||13,949|18,266| ||=====|=====| ## 3 **Trustees** None of the Trustees were reimbursed for expenses throughout the current and previous year. No remuneration was paid or payable in respect of the year out of the funds of the Trust either directly or indirectly to any Trustee or to any person known to be connected with them. ## 4 **Grants** ||**2020**|**2019**| |---|---|---| ||£|£| |Grants paid during the year:||| |Hospices and other charities funded by WMBF|13,614|32,103| |PGL Kent|1,000|1,000| |PGL Surrey|1,000|-| |PGL East Lancashire|1,000|1,000| |PGL Sussex|-|1,000| ||______|______| ||16,614|35,103| ||=====|=====| **9** ## **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 5 **Investments** ||**2020**|**2019**| |---|---|---| ||£|£| |Market value at 31 August 2019|420,233|409,943| |Additions|-|58,094| |Disposals|(29,132)|(45,583)| |Realised (loss) on disposals|(5,464)|(8,549)| |Unrealised (loss)/gains|(33,051)|6,328| ||_______|_______| |Market value at 31 August 2020|352,586|420,233| ||_______|_______| |Book value at 31 August 2020|354,307|383,439| ||======|======| |**Investments at Market Value comprised:**||| |UK equities, unit trusts & foreign bonds|352,586|420,233| ||======|======| ## 6 **Restricted Funds** ||**Warwickshire**|**Mary**|| |---|---|---|---| ||**Festival Fund**|**Jones**|| ||**2027**|**Fund**|**Total**| ||£|£|£| |At 31 August 2019|240,023|188,271|428,294| |Income from Mary Jones Fund|4,470|-|4,470| |Transfer from unrestricted funds|20,000|-|20,000| |Realised (loss) on investment|(1,451)|(1,461)|(2,912)| |Unrealised (loss) on investment|(10,610)|(13,363)|(23,973)| ||_______|_______|_______| |At 31 August 2020|252,432|173,447|425,879| ||======|======|======| **10** **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 6 **Restricted Funds (Continued)** ## **Warwickshire Festival 2027 Fund** The Grand Lodge of Mark Master Mason set-up the Mark Benevolent Fund (MBF) in 1886 as a grant making body to support indigent Mark Masons. Over the years the MBF has expanded its scope enormously and is well endowed. The MBF is funded by charitable contributions from Mark Master Masons and these are largely collected using the fund-raising vehicle of an Annual Festival. These Annual Festivals are dealt with on a rotation basis. These Annual Festivals are dealt with on a rotation basis. A Festival will come round once every 45 years for each Province. Although this system seems, on the face of it, to not be unduly demanding financially in Warwickshire it has been felt that to ameliorate the impact of recurring Festivals on the pockets of our members funds would, on an annual basis, be put aside into a restricted reserve to meet some part of the financial commitment to the Festival in the year it falls due. These restricted funds are invested by the stockbroker in low/medium risk stock and shares on the basis that during the four or five year period leading up to 2027 the investments would be liquidated at appropriate moments to mitigate any financial risk to the funds that have been put aside. These risks are supervised by a sub-committee of trustees in conjunction with the stockbroker and a report is submitted to the board of trustees for their approval. Funds may be transferred to this reserve either from annual income or by transfers from the General Reserve if the trustees feel that there are more than sufficient balances held. ## **The Mary Jones Fund** This substantial restricted reserve arose as a result of a very generous legacy from Mrs Mary Jones, widow of one of the Province’s senior members and a long-term Lodge Almoner. Mary Jones approached the Chairman to discuss part of her revised Will and it was suggested to her that she could leave money as an ‘endowment fund’ with the Trustees of the WMBF having discretion as to the charitable use to which the income could be used. Mary Jones subsequently asked her solicitor to advise her and draw-up her new Will. Income from the fund is currently being used to support the WMBF’s commitment to the 2027 Festival. From 2027 onwards income will be used to support the general objects of the fund of which grants to local charities will be a large part. Members of the WMBF are quietly asked to consider legacies to the WMBF. As and when further legacies are received the name of this reserve may be changed to ‘Endowment Reserve’ in order that the accounts do not become too encumbered with multiple reserves serving identical purposes. ## 7 **Allocation of Funds** |**Allocation of Funds**||||| |---|---|---|---|---| ||||**2020**|**2019**| ||**Unrestricted**|**Restricted**|**Total**|**Total**| ||**Funds**|**Funds**|**Funds**|**Funds**| ||£|£|£|£| |Investments|-|352,586|352,586|420,233| |Cash at bank and in hand|426|73,293|73,719|36,365| ||_______|_______|_______|_______| |Total assets|426|425,879|426,305|456,598| ||======|======|======|======| **11** ## **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 8 **Related Party Transactions** There were no related party transactions throughout the current and previous year. ## 9 **Control** The Charity was under the control of the Trustees throughout the current and previous year. **Registered Charity No: 213476** ## **Warwickshire Mark Benevolent Fund** **Trustees’ Report and Financial Statements** ## **31 August 2020** **Warwickshire Mark Benevolent Fund** ## **31 August 2020** |**Contents**|**Pages**| |---|---| |Trustees’ Annual Report|1 - 3| |Independent Examiner’s Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Accounts|7 - 11| **1** # **Warwickshire Mark Benevolent Fund** # **Trustees’ Annual Report for the year ended 31 August 2020** The Trustees present their report and accounts for the year ended 31 August 2020. ## **Reference and Administrative Information** The Trust is registered with the Charity Commissioners No. 213476 on 6 December 1962. The main address for contacts is: 20 Henley Crescent Solihull West Midlands B91 2JB The Trustees at 31 August 2020 were: J S Wright C F Stiles N E A Watkin J D Evans M D Saxon R N Clemson P Wills N J Bridges A R Armbrister P F Mason P Hayward G Hughes ## **Structure, Governance and Management** The Trustees are recruited and appointed in two ways as Ex Officio Trustees, by means of The Provincial Office they hold and elected Trustees nominated, as such by the Provincial Grand Master and Trustees but voted upon by the members at the Annual Meeting. ## **Objectives and Activities** The Charity’s objects are to provide a relief fund for and support to other Masonic avenues of financial relief for the beneficiaries and to make donations from the fund to Masonic and non-Masonic charities. Whilst undertaking the above mentioned activities the Trustees had due regard to guidance published by the Charity Commission on public benefit issues. **2** ## **Warwickshire Mark Benevolent Fund** ## **Trustees’ Annual Report for the year ended 31 August 2020 (Continued)** ## **Achievements and Performance** During the year ended 31 August 2020 the fund made grants and donations of £16,614 (2019 - £35,103) to Freemasons, their dependents and non-Masonic charities. Masonic meetings were suspended at the beginning of March 2020 so members were not able to make regular periodic charitable donations to the fund for six months of this financial year. Accordingly the voluntary donations from members show in the reduced figure of £17,329 compared to £21,577 in the previous year. ## **Financial Review** During the year ended 31 August 2020 the Charity received donations, investment income and tax refunds amounting to £33,768 (2019 - £41,675) of which £20,082 (2019 - £38,557) was spent in pursuit of the Charity’s objectives. At 31 August 2020 £426 (2019 - £28,304) was held as Unrestricted Funds and £425,879 (2019 - £428,294) was held as Restricted Funds. ## **Reserves Policy** The reserves are carefully regulated by the Board of Trustees to ensure that adequate financial resources are available to support the Benevolent Fund’s short-term and longer-term commitments. Reserves are held in both cash (bank account balances, balances held by the fund’s stockbrokers, and balances held within the Masonic Relief Chest Scheme designated as being held to the Order of The Warwickshire Mark Benevolent Fund) and in stocks and shares and other investments managed on the fund’s behalf by Redmayne Bentley LLP (stockbrokers). ## **Trustees’ Responsibilities** The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements the Trustees are required to:- - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time, the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity Accounts and Reports Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. **3** ## **Warwickshire Mark Benevolent Fund** **Trustees’ Annual Report for the year ended 31 August 2020 (Continued)** The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Approved by the Trustees on 26 February 2021 and signed on their behalf by: .………………………….. **J S Wright Chairman** **4** ## **Independent Examiner’s Report to the Trustees of Warwickshire Mark Benevolent Fund** I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2020 which are set out on pages 5 to 11. ## **Responsibilities and basis of report** As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent Examiner’s Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached. Mr S E W Tranter Chartered Accountant Brook House Moss Grove Kingswinford West Midlands DY6 9HS 26 February 2021 **5** ## **Warwickshire Mark Benevolent Fund** ## **Statement of Financial Activities For the year ended 31 August 2020** |||||**Total**|**Total**| |---|---|---|---|---|---| ||**Unrestricted**||**Restricted**|**Funds**|**Funds**| ||**Notes**|**Funds**|**Funds**|**2020**|**2019**| |||£|£|£|£| |**Incoming Resources**|||||| |Voluntary income|||||| |Donations||17,329|-|17,329|21,577| |Gift Aid Tax Refunds||2,490|-|2,490|1,832| |Dividends and interest on|||||| |investments|2|8,014|5,935|13,949|18,266| |||______|______|_______|_______| |**Total Incoming Resources**||27,833|5,935|33,768|41,675| |||=====|=====|======|======| |**Resources Expended**|||||| |Charitable payments|||||| |Grants and assistance|4|16,614|-|16,614|35,103| |Administration||2,003|1,465|3,468|3,454| |||______|______|_______|_______| |**Total Resources Expended**||18,617|1,465|20,082|38,557| |||______|______|_______|_______| |**Net incoming resources before transfers**||9,216|4,470|13,686|3,118| |Unrealised gains/(losses)||(14,542)|(23,973)|(38,515)|(2,222)| |Realised gains/(losses)|5|(2,552)|(2,912)|(5,464)|(8,549)| |Transfers between funds||(20,000)|20,000|-|-| |||______|_______|_______|_______| |**Net movements in funds for the year**||(27,878)|(2,415)|(30,293)|(7,653)| |Total funds brought forward||28,304|428,294|456,598|464,251| |||______|_______|_______|_______| |**Total funds carried forward**||426|425,879|426,305|456,598| |||======|======|======|======| **6** **Warwickshire Mark Benevolent Fund** ## **Balance Sheet - 31 August 2020** ||||**2020**||**2019**| |---|---|---|---|---|---| ||**Notes**|£|£|£|£| |**Fixed Assets**|||||| |Investments|5||352,586||420,233| |**Current** **Assets**|||||| |Cash at bank and in hand||73,719||36,365|| |||______||______|| |||73,719||36,365|| |**Liabilities: (amounts falling**|||||| |**due within one year)**|||-|-|| |||______||______|| |**Net current assets**|||73,719||36,365| ||||_______||_______| |**Net Assets**|||426,305||456,598| ||||======||======| |**Funds of the Charity:**|||||| |Unrestricted Funds|||426||28,304| |Restricted Funds|6||425,879||428,294| ||||_______||_______| |**Total Funds**|||426,305||456,598| ||||======||======| and signed on their behalf by: …………………………………. **J S Wright Chairman** **7** ## **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 1 **Accounting Policies** - (a) The accounts have been prepared under the historical cost convention in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP 2019 (FRS 102)) and comply with these Charities (Accounts and Reports) Regulation 2005 issued under the Charities Act 2011. - (b) Voluntary income received by way of donations and gifts to the Charity is included in full in the Statement of Financial Activities when received. - (c) Listed investments are stated at market value less any provision for a permanent diminution in value since the balance sheet date. - (d) Realised and unrealised gains and losses on investments are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and the values transferred in on purchase date if later. Unrealised gains and losses are calculated as the difference between the market value at the end of the period and the transferred in value or purchase date if later. - (e) Charitable grants are accounted for in the year in which they are paid. All other expenses are accounted for under the accruals basis. Support costs represent the cost of the general administration functions of the Charity. Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. Expenditure includes any VAT which cannot be recovered, which is reported as part of the expenditure to which it relates. - (f) Unrestricted Funds compromise those funds which the Trustees are free to use in accordance with the charitable objects of the Charity. The Restricted Funds represent those assets which must be held permanently by the Charity, principally investments. Income arising from the Restricted Funds can be used in accordance with the objects of the Charity and is included in unrestricted fund income. Capital gains and losses arising on the investments form part of the Restricted Fund. - (g) Income from investments is accounted for in the year in which it is receivable. Interest on bank and stockbroker deposits is accounted for in the year which it is received. - (h) As a Registered Charity, no liability to taxation arises. **8** **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 2 **Investment Income** ||**2020**|**2019**| |---|---|---| ||£|£| |Dividends and fixed interest receipts|13,854|18,180| |Interest received|95|86| ||______|______| ||13,949|18,266| ||=====|=====| ## 3 **Trustees** None of the Trustees were reimbursed for expenses throughout the current and previous year. No remuneration was paid or payable in respect of the year out of the funds of the Trust either directly or indirectly to any Trustee or to any person known to be connected with them. ## 4 **Grants** ||**2020**|**2019**| |---|---|---| ||£|£| |Grants paid during the year:||| |Hospices and other charities funded by WMBF|13,614|32,103| |PGL Kent|1,000|1,000| |PGL Surrey|1,000|-| |PGL East Lancashire|1,000|1,000| |PGL Sussex|-|1,000| ||______|______| ||16,614|35,103| ||=====|=====| **9** ## **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 5 **Investments** ||**2020**|**2019**| |---|---|---| ||£|£| |Market value at 31 August 2019|420,233|409,943| |Additions|-|58,094| |Disposals|(29,132)|(45,583)| |Realised (loss) on disposals|(5,464)|(8,549)| |Unrealised (loss)/gains|(33,051)|6,328| ||_______|_______| |Market value at 31 August 2020|352,586|420,233| ||_______|_______| |Book value at 31 August 2020|354,307|383,439| ||======|======| |**Investments at Market Value comprised:**||| |UK equities, unit trusts & foreign bonds|352,586|420,233| ||======|======| ## 6 **Restricted Funds** ||**Warwickshire**|**Mary**|| |---|---|---|---| ||**Festival Fund**|**Jones**|| ||**2027**|**Fund**|**Total**| ||£|£|£| |At 31 August 2019|240,023|188,271|428,294| |Income from Mary Jones Fund|4,470|-|4,470| |Transfer from unrestricted funds|20,000|-|20,000| |Realised (loss) on investment|(1,451)|(1,461)|(2,912)| |Unrealised (loss) on investment|(10,610)|(13,363)|(23,973)| ||_______|_______|_______| |At 31 August 2020|252,432|173,447|425,879| ||======|======|======| **10** **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 6 **Restricted Funds (Continued)** ## **Warwickshire Festival 2027 Fund** The Grand Lodge of Mark Master Mason set-up the Mark Benevolent Fund (MBF) in 1886 as a grant making body to support indigent Mark Masons. Over the years the MBF has expanded its scope enormously and is well endowed. The MBF is funded by charitable contributions from Mark Master Masons and these are largely collected using the fund-raising vehicle of an Annual Festival. These Annual Festivals are dealt with on a rotation basis. These Annual Festivals are dealt with on a rotation basis. A Festival will come round once every 45 years for each Province. Although this system seems, on the face of it, to not be unduly demanding financially in Warwickshire it has been felt that to ameliorate the impact of recurring Festivals on the pockets of our members funds would, on an annual basis, be put aside into a restricted reserve to meet some part of the financial commitment to the Festival in the year it falls due. These restricted funds are invested by the stockbroker in low/medium risk stock and shares on the basis that during the four or five year period leading up to 2027 the investments would be liquidated at appropriate moments to mitigate any financial risk to the funds that have been put aside. These risks are supervised by a sub-committee of trustees in conjunction with the stockbroker and a report is submitted to the board of trustees for their approval. Funds may be transferred to this reserve either from annual income or by transfers from the General Reserve if the trustees feel that there are more than sufficient balances held. ## **The Mary Jones Fund** This substantial restricted reserve arose as a result of a very generous legacy from Mrs Mary Jones, widow of one of the Province’s senior members and a long-term Lodge Almoner. Mary Jones approached the Chairman to discuss part of her revised Will and it was suggested to her that she could leave money as an ‘endowment fund’ with the Trustees of the WMBF having discretion as to the charitable use to which the income could be used. Mary Jones subsequently asked her solicitor to advise her and draw-up her new Will. Income from the fund is currently being used to support the WMBF’s commitment to the 2027 Festival. From 2027 onwards income will be used to support the general objects of the fund of which grants to local charities will be a large part. Members of the WMBF are quietly asked to consider legacies to the WMBF. As and when further legacies are received the name of this reserve may be changed to ‘Endowment Reserve’ in order that the accounts do not become too encumbered with multiple reserves serving identical purposes. ## 7 **Allocation of Funds** |**Allocation of Funds**||||| |---|---|---|---|---| ||||**2020**|**2019**| ||**Unrestricted**|**Restricted**|**Total**|**Total**| ||**Funds**|**Funds**|**Funds**|**Funds**| ||£|£|£|£| |Investments|-|352,586|352,586|420,233| |Cash at bank and in hand|426|73,293|73,719|36,365| ||_______|_______|_______|_______| |Total assets|426|425,879|426,305|456,598| ||======|======|======|======| **11** ## **Warwickshire Mark Benevolent Fund** ## **Notes to the Accounts - 31 August 2020** ## 8 **Related Party Transactions** There were no related party transactions throughout the current and previous year. ## 9 **Control** The Charity was under the control of the Trustees throughout the current and previous year.