Brethren, I present the Annual report of the Trustees of The Warwickshire Mark Benevolent Fund. The Trustees of the fund are as follows: -
Ex-Officio Trustees
R. W. Brother Philip Wills, Provincial Grand Master (President).
W. Brother Andrew R. Armbrister, Deputy Provincial Grand Master.
W. Brother R. Nigel Clemson, Assistant Provincial Grand Master.
W. Brother Ian Belshaw, Provincial Grand Secretary.
W. Brother Paul Hayward, Provincial Grand Charity Steward, Secretary.
W. Brother Paul F. Mason, Provincial Grand Almoner.
predecessor, W.Bro. R. Nigel Clemson for the continued support in my final year of this tenure.
In fulfilment of the objectives 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 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.
This year has seen more Masonic activity and thereby the donations to the fund are starting to increase. The Brethren have supported the Craft 2023 Festival and our attention is now drawn to the future, especially with the Warwickshire 2027 Festival in support of the Mark Benevolent Fund is fast approaching.
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 David Fair, Treasurer.
W. Brother Cedric F. Stiles.
W. Brother Neil E.A. Watkin.
W. Brother David Evans
Brethren the report on behalf of the trustees of The Warwickshire Mark Benevolent Fund and I wish to pass my grateful thanks to my
The Fund has continued to support the Mark Benevolent Fund and local charities with their appeals. Albeit in a restricted form.
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.
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.
| Warwickshire Craft 2023 Festival | £5,000 |
|---|---|
| West Yorkshire Mark 2023 Festival | £1,000 |
| Cheshire Mark 2024 Festival | £1,000 |
| Oxfordshire Mark 2025 Festival | £1,000 |
| Victoria College | £500 |
| Masonic Widow | £302 |
| Wilson School Fund | £300 |
| Medical contribution | £150 |
Paul J. Hayward Secretary Warwickshire Mark Benevolent Fund
Reglstered Charity No: 213476 Warwickshire Mark Benevolent Fund Trustees. Rèport and Financial Statements 31 August 2023
Warwickshire Mark BanOIent Fund 31 August 2023 Contents Pages Trustees, Annual Report Independent Examinerfs Report Statement of Finan(aal Aclivi Balan Sheet Notes to the Accourts 7-11
WaTh¥ickshlre Mark Benevolent Fund Trustees, Annual Report for the year ended 31 August 2023 The Trustees present their report and accounts ft)rthe year ended 31 August 2023. Reference and Administrative Information The Trust is registered with the Charity Commissioners No. 213476 on 6 Drnber 1962. The main address for contacts ts: 20 Henley Crescent Solihull Warwi¢kshire B912JD The Trustees at 31 August 2023 were: J S Wright DPFair N E A Watkin J D Evans C F stiles R N Clemson P Wills N J Bridges A R Amibrister P F Mason P J Hayward l D Belsham Structure, Govémance and Management The Trustees are recruited and apF)ointed in two ways as Ex Officio Trustees. by means of The Provincial Office they hold and elected Trustees rnminated. as such by the Provincial Grand Master and Trustees but voted upon by the members at the Annual Meeting. Objectives and Activities The Chanty's obj.ects are to kyovide a relief fund for arKJ support to other Masonic avenues of financial relief forthe beneficiaries and to make donaticS from the fund to MasoniG and non-masoni charrties. Whilst undertaking the ab)vtrmenb'oned activrties the Trustees had due regard to guidance published by the Charity Commission on public nefi1 issues.
WaThvickshirn IAark 8enevolent Fund Tnmtees. Annual Report for the year ended 31 August 2023 (Continued) Achigvemonts and Perfonnan During the year ended 31 August 2023 the fund made grants and donations of £ 9,252 (2022 - £ 7,534) to Freemasons, their dependents, and non-masonic charities. MemtErs contributions remained much as the previous yearfol1ollng the resumption of meetings. Accordingly. the voluntary donations from members show a figure £ 11.699 compared to £ 11,989 the previous year. Financial Reviv During the year ended 31 August 2023 the Charity received donations, investment income and tax refunds amounting to £26,787 (2022 - £25.185) of which £12.895 (2022 - £10,044) was spent in pursuit of the Charity's objectives. As at 31 August 2023 £ 275,TT7 (2022 - £ 282,884) was held as Unrestrl(ed Funds and £173,512 (2022 - £184.941) was held as Restrided Funds. Reserves Policy The reseprfes are ¢arefulty regulated by the Board of Trustees to ensure that adequate financial reSoUS are available to support the Benevolent Fund's short4erm and longer-term commitments. Reserves are held in both cash (bank account balans. balan$ held by the fund's stockbrokers, and balan 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 BeneY LLP (stocktfokers). Trustees, Responsibililies The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each finanoal year which give a true and fair view of the state of affairs of the Chartty and of the incoming resources and application of reSoUS of the Charity for that period. In preparing these financial statements the Trustees are required to - select suttable accountirvJ policies and then apply them consistenty. observe the methods and prineS in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent. state vthether applicable accounting standards have teen fdlo*Ed. SU"eCt to any material departures disdosed 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 (Mitinue in operation. The Trustees are resFrf)nsible for keeping OPer accounting records that dwlose wsih reasonable accuracy at any time. th8 financial positson of the Charity and enable them to ensure thatthe financial statements comply with the Charities Ad 2011, the Charity Accounts and ReF)Orts 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 wevention and detection of fraud and other irregularities.
Warwickshire Mark Benevolent Fund Tntstees. Annual Report for the year ended 31 August 2023 (Continued) The Trustees are ponsib for the Maintenan and integrity of the Charity and financial infonrÈation induded on the Chaiity's website. Approved by the Trustees on 6 January 2024 and signed on their tehalf by: J S Wright Charmian ,RNCle Secretary
Indepèndent Examinerfs Report to the Trustees of Warwickshire Mark Benevolent Fund I report to the Charity Tnjstees on my examination of the accounts of the charity for year ended 31 August 2023 which are set out on pages 5 to 11. Responsibilities and basls of rnport As the Charitys Trustees you are responsible forthe prepar*ion of the accounts in accordance with the requirements of the Charities Act 2011 Acr). I report in respect of my examination of the charity's arKounts carried out under section 145 of the Act and in carying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent Examin•fs StatThnt I have completed my examination. I firrn that no material matte[5 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 chartty as required by section 130 of the Act", or 2. the accourrts do not accord with those records: or 3. the accounts do not comply with the applicable requirements concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts gNe a Irue and fair view which is not a matter considered as part of an independent examination. I have no ¢oncems and have come across no matters in connedion wilh the examination to vthith attention shoukl be drawn in this rewrt to enable a proper understanding of the accounts to be reached. Mr K L Malyn Chartered Accountant Woodlands 254 Coleshill Heath Road Marston Green Binningham 837 7JA
WaTh¥ickshiYe PAark Benevolont Fund Statement of Financial Activities For the year ended 31 August 2023 Total Unrestricted Restrlctad Funds Notes Funds Funds 2023 Total Funds 2022 Incomlng Resources Voluntary income Donations Gift Aid Tax Refunds Dividends and interest on investments 8,352 3.347 8,352 3.347 9,089 2.900 8.799 6.289 15.088 13,196 Total Incoming Rosources 20,498 6,289 26.787 25.185 Resources Expendad Charitable payments Grants and assistance Administration 9.252 2.119 9.252 1.524 2,510 Total Resources Expended 11.371 1.524 12,895 10,044 Net Incoming resources b•fore transfers 9,127 4.765 13.892 15,141 Unrealised gainsl(losse8) (20,698) (10.675) {31,373) (26,793 Realised gain(lOs8e$) (551) (754) (1,305) 578 Transfers belween funds 4.765 (4,765) Net movements in funds for the year 17.357) {11.429} (18.786) (11,074) Total funds brought forward 282.884 184.941 467,825 478,899 Total funds carried forward 275.527 173,512 449.039 467.825
WaThvickshire IAark Benevolent Fund Balance Sheet- 31 August 2023 2023 2022 Flxed Assets Investments 372,820 412,551 Current Assets Cash at bank and in hand 76.469 55,274 76.469 55,274 Liabilities: {amounts falllng due within one year) 250 Net current assets 76,219 55.274 Net Assets 449,039 467,825 Funds of the Charity: Unrestricted Funds Restricted Funds 275.527 173.512 282,884 184.941 T¢)tsl Funds 449,039 467,825 The financial statements on pages 1 to 11 Yre approved by the Trustees on 6 January 2024 and signed on their behaff by- J S Wright ChaiMn
Warwickshire IAarf( Benevolent Fund Notss to the A¢¢ounts- 31 August 2023 Accounting Pollcles (a) The accounts have teen prepared under the hsstorical cost convention in accordan with applicable accounting standards arKI follow the recommerKlations in Statement of Recommended Practi,AcCOunting and Reporting by ChaTities' (SORP 2019 (FRS 102)) and comply with these Charities (Accounts and Reports) Regulation 21X)5 issued under the CharTties Act 2011. (b) Voluntsry income received by way of donations and gifts to the Charity ts induded in full in the Statement of Financial ActsvitS when received. {c) Listed investrnents are stated at market value less any provisKm for a permanerrt diminuiion in value since the balan sheet date. (d) Realised and unrealised gains and losses on investrnents are taken to the Statement of Financial Activiiies as ttpy arise. Realised gains and losses on investments are calculated as the difference between sates proceeds and the values transferred in on purchase date if later. Unrealised gains and losses are calculated as the dtfference betsveen the market value at the end of the period and the transferred in value or purchase date rf later. (e) Charitable grants are accounted for in the year in which they are paid. All other expenses are a¢counted for under the accruals basis. Support costs represent the cost of the general administration functions of the Chartty. Governan costs comprise all costs involving the public accountabilty of the Charrty and its compliance with regulation and good pra1. Expenditure includes any VAT which tsnnot be recovered. which is reported as part of the expenditure to which it relates. (fj Unrestricted Funds compromise those funds which the Trustees are free to use in accordance th the tharitable objects of the Chartty. The Restricted Funds represent those assets which must be hekl pemianently by the Charty. principally investments. Incorne arising from the Restricted Funds can be used in accordance with the obJ"eGts of the Charity and is included in unrestricted fund income. Cawlal gains and losses arising on the investments fomi part of the Restncted Fund. (g) Income from investments is accounted for in the year in which it receNable. Interest on bank and stockknker deposits is accounted for in the year which it ts r1ved. (h) As a Registered Charity. no liabilty to tsxation arises.
Warwickshire PJIark Benevolent Fund Notes to the Accounts . 31 August 2023 Investment Income 2023 2022 Dividends and ed interest receipts Interest reoived 14.564 524 13,182 14 15,088 13,196 Non8 of the Trustees were reimbursed for expenses throUght the current and previous year. No remuneration was paKI or payabte in resK*ct of the year out of the funds of the Tnjst either directly or indirectty to any Trustee or to any person known to be conneded wtth them. Grants 2023 2022 Grarrts paid during the year. Hospices and other charities furKled by WMBF 9.252 9,252 7,534
Warwickshire ljlark Benevolent Fund Notss to the Accounts - 31 August 2023 Inveslments 2023 2022 Market value as at 31 August 2022 Additions Disposals Realised gainsl(loss) on disposal Unrealised gainsl(loss) on disposals 412.551 17.978 (25.031) { 1.305) (31,373) 423,091 55,449 (39,74) 578 { 26,793 Market valu8 at 31 August 2023 372,820 412,551 Book value at 31 August 2023 380,453 394,277 Inveslrnents at Market Value comprlsod: UK equities. unit trusts & foreign bonds 372,820 412,551 Re8trlcted Funds Warwickshlr• Endowm't 2027 Rès.Fund Total At 31 August 2022 Income from Mary Jones Furm Surplus For Year Realised gainl{loss) on investrnent Unrealised gainl(loss) on investment 282,884 4.765 9,127 (551) {20,698) 184.941 467.825 4,765 9,127 { 1305) (31,373) (754) {10,675) As At 31 August 2023 275,527 173,512 449,039
10 WaThvickshire Mark Benevolent Fund Notss to the Accounts- 31 August 2023 Restrlcted Funds (Conlinued) Wan¥lckshlre Fostlval 2027 Fund The Grand Lodge of Mark Master Mason set-up the Mark Benevolent Fund IMBF) in 1886 as a grant making body to support irKltgent Mark Masons. Overthe years the MBF has expanded its scope enomously and is well endowed. The MBF is funded by charitable contributions from Mark Master Masons, and these are largety collected using the fund-raising vehide of an Annual Festival. These Annual Festivals are dealt with on a rotation basis. A Festtval will come round once every 45 years for each Province. Although this system seems. on the fa of it, to not be unduly demandirKJ finanoally in WaTrithshire it has teen fell that to ameliorate the impact of recurring Festivals on the &etS of our mernber5 furKls would, on an annual basis, be PLrt aside into a restricted reserve to meet some part of the financial commttment to the Festival in the year it falls due. These restricted funds are invested by the stockbroker in lowlmedium risk stock a1 shares on the basis that, during the four or fjve year period leading up to 2027, the investrnents would be liquidated at aF¢)ropriate moments to mitigate any financial risk to the funds that have been put aside. These risks are supervised by a su committee of trustees in conjunction with the stockbroker and a port is submttted 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 rf trustees feel that there are more than sufficient balances held. The WMBF EndlY•Mnt Reserve Fund { fornrty IAary Jones Fund) This substantFal restriced 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-tem Lodge Almoner. Mary Jones approached the Chaimian to discuss part of her revised Wll and it was suggested to her that she could leave money as an 'erKlowment fund, with the Trustees ofthe IMrtBF having discretion as to the charitable use to which the income c¢)uld te used. Mary Jones subsequently asked her solicitor to advise her and draw-up her new Wll. Income from the fund is currenty being used to support the WMBFS Commrtrnent 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 a large part. Membets of the VnlBF are quEty asked to consider *acies to the MIBF. As and when Jrther legacies are received the name of this reserve has been changed to 'Endowment Resee, in order that the accounts do not become too encumbered with multiple reserves serving identical wrposes. Allocation of Funds 2023 Total Funds 2022 Total Funds Unrestricted Restricted Funds Funds Investments Cash at bank and in haThJ 213.626 69.258 198,925 (13,984) 412.551 55.274 423.091 55,807 Total assets 282.884 184.941 467,825 478,898
11 Warnickshlre IAark Benevolent Fund Notes to the Accounts- 31 August 2023 Related Party Tran&qctions There were no related party trartsaC1i throughout the ojrrent and previous year. Control The Charity was under the ntrol of the Trustees throughout the current and previous year.
Reglstered Charity No: 213476 Warwickshire Mark Benevolent Fund Trustees. Rèport and Financial Statements 31 August 2023
Warwickshire Mark BanOIent Fund 31 August 2023 Contents Pages Trustees, Annual Report Independent Examinerfs Report Statement of Finan(aal Aclivi Balan Sheet Notes to the Accourts 7-11
WaTh¥ickshlre Mark Benevolent Fund Trustees, Annual Report for the year ended 31 August 2023 The Trustees present their report and accounts ft)rthe year ended 31 August 2023. Reference and Administrative Information The Trust is registered with the Charity Commissioners No. 213476 on 6 Drnber 1962. The main address for contacts ts: 20 Henley Crescent Solihull Warwi¢kshire B912JD The Trustees at 31 August 2023 were: J S Wright DPFair N E A Watkin J D Evans C F stiles R N Clemson P Wills N J Bridges A R Amibrister P F Mason P J Hayward l D Belsham Structure, Govémance and Management The Trustees are recruited and apF)ointed in two ways as Ex Officio Trustees. by means of The Provincial Office they hold and elected Trustees rnminated. as such by the Provincial Grand Master and Trustees but voted upon by the members at the Annual Meeting. Objectives and Activities The Chanty's obj.ects are to kyovide a relief fund for arKJ support to other Masonic avenues of financial relief forthe beneficiaries and to make donaticS from the fund to MasoniG and non-masoni charrties. Whilst undertaking the ab)vtrmenb'oned activrties the Trustees had due regard to guidance published by the Charity Commission on public nefi1 issues.
WaThvickshirn IAark 8enevolent Fund Tnmtees. Annual Report for the year ended 31 August 2023 (Continued) Achigvemonts and Perfonnan During the year ended 31 August 2023 the fund made grants and donations of £ 9,252 (2022 - £ 7,534) to Freemasons, their dependents, and non-masonic charities. MemtErs contributions remained much as the previous yearfol1ollng the resumption of meetings. Accordingly. the voluntary donations from members show a figure £ 11.699 compared to £ 11,989 the previous year. Financial Reviv During the year ended 31 August 2023 the Charity received donations, investment income and tax refunds amounting to £26,787 (2022 - £25.185) of which £12.895 (2022 - £10,044) was spent in pursuit of the Charity's objectives. As at 31 August 2023 £ 275,TT7 (2022 - £ 282,884) was held as Unrestrl(ed Funds and £173,512 (2022 - £184.941) was held as Restrided Funds. Reserves Policy The reseprfes are ¢arefulty regulated by the Board of Trustees to ensure that adequate financial reSoUS are available to support the Benevolent Fund's short4erm and longer-term commitments. Reserves are held in both cash (bank account balans. balan$ held by the fund's stockbrokers, and balan 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 BeneY LLP (stocktfokers). Trustees, Responsibililies The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each finanoal year which give a true and fair view of the state of affairs of the Chartty and of the incoming resources and application of reSoUS of the Charity for that period. In preparing these financial statements the Trustees are required to - select suttable accountirvJ policies and then apply them consistenty. observe the methods and prineS in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent. state vthether applicable accounting standards have teen fdlo*Ed. SU"eCt to any material departures disdosed 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 (Mitinue in operation. The Trustees are resFrf)nsible for keeping OPer accounting records that dwlose wsih reasonable accuracy at any time. th8 financial positson of the Charity and enable them to ensure thatthe financial statements comply with the Charities Ad 2011, the Charity Accounts and ReF)Orts 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 wevention and detection of fraud and other irregularities.
Warwickshire Mark Benevolent Fund Tntstees. Annual Report for the year ended 31 August 2023 (Continued) The Trustees are ponsib for the Maintenan and integrity of the Charity and financial infonrÈation induded on the Chaiity's website. Approved by the Trustees on 6 January 2024 and signed on their tehalf by: J S Wright Charmian ,RNCle Secretary
Indepèndent Examinerfs Report to the Trustees of Warwickshire Mark Benevolent Fund I report to the Charity Tnjstees on my examination of the accounts of the charity for year ended 31 August 2023 which are set out on pages 5 to 11. Responsibilities and basls of rnport As the Charitys Trustees you are responsible forthe prepar*ion of the accounts in accordance with the requirements of the Charities Act 2011 Acr). I report in respect of my examination of the charity's arKounts carried out under section 145 of the Act and in carying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent Examin•fs StatThnt I have completed my examination. I firrn that no material matte[5 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 chartty as required by section 130 of the Act", or 2. the accourrts do not accord with those records: or 3. the accounts do not comply with the applicable requirements concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts gNe a Irue and fair view which is not a matter considered as part of an independent examination. I have no ¢oncems and have come across no matters in connedion wilh the examination to vthith attention shoukl be drawn in this rewrt to enable a proper understanding of the accounts to be reached. Mr K L Malyn Chartered Accountant Woodlands 254 Coleshill Heath Road Marston Green Binningham 837 7JA
WaTh¥ickshiYe PAark Benevolont Fund Statement of Financial Activities For the year ended 31 August 2023 Total Unrestricted Restrlctad Funds Notes Funds Funds 2023 Total Funds 2022 Incomlng Resources Voluntary income Donations Gift Aid Tax Refunds Dividends and interest on investments 8,352 3.347 8,352 3.347 9,089 2.900 8.799 6.289 15.088 13,196 Total Incoming Rosources 20,498 6,289 26.787 25.185 Resources Expendad Charitable payments Grants and assistance Administration 9.252 2.119 9.252 1.524 2,510 Total Resources Expended 11.371 1.524 12,895 10,044 Net Incoming resources b•fore transfers 9,127 4.765 13.892 15,141 Unrealised gainsl(losse8) (20,698) (10.675) {31,373) (26,793 Realised gain(lOs8e$) (551) (754) (1,305) 578 Transfers belween funds 4.765 (4,765) Net movements in funds for the year 17.357) {11.429} (18.786) (11,074) Total funds brought forward 282.884 184.941 467,825 478,899 Total funds carried forward 275.527 173,512 449.039 467.825
WaThvickshire IAark Benevolent Fund Balance Sheet- 31 August 2023 2023 2022 Flxed Assets Investments 372,820 412,551 Current Assets Cash at bank and in hand 76.469 55,274 76.469 55,274 Liabilities: {amounts falllng due within one year) 250 Net current assets 76,219 55.274 Net Assets 449,039 467,825 Funds of the Charity: Unrestricted Funds Restricted Funds 275.527 173.512 282,884 184.941 T¢)tsl Funds 449,039 467,825 The financial statements on pages 1 to 11 Yre approved by the Trustees on 6 January 2024 and signed on their behaff by- J S Wright ChaiMn
Warwickshire IAarf( Benevolent Fund Notss to the A¢¢ounts- 31 August 2023 Accounting Pollcles (a) The accounts have teen prepared under the hsstorical cost convention in accordan with applicable accounting standards arKI follow the recommerKlations in Statement of Recommended Practi,AcCOunting and Reporting by ChaTities' (SORP 2019 (FRS 102)) and comply with these Charities (Accounts and Reports) Regulation 21X)5 issued under the CharTties Act 2011. (b) Voluntsry income received by way of donations and gifts to the Charity ts induded in full in the Statement of Financial ActsvitS when received. {c) Listed investrnents are stated at market value less any provisKm for a permanerrt diminuiion in value since the balan sheet date. (d) Realised and unrealised gains and losses on investrnents are taken to the Statement of Financial Activiiies as ttpy arise. Realised gains and losses on investments are calculated as the difference between sates proceeds and the values transferred in on purchase date if later. Unrealised gains and losses are calculated as the dtfference betsveen the market value at the end of the period and the transferred in value or purchase date rf later. (e) Charitable grants are accounted for in the year in which they are paid. All other expenses are a¢counted for under the accruals basis. Support costs represent the cost of the general administration functions of the Chartty. Governan costs comprise all costs involving the public accountabilty of the Charrty and its compliance with regulation and good pra1. Expenditure includes any VAT which tsnnot be recovered. which is reported as part of the expenditure to which it relates. (fj Unrestricted Funds compromise those funds which the Trustees are free to use in accordance th the tharitable objects of the Chartty. The Restricted Funds represent those assets which must be hekl pemianently by the Charty. principally investments. Incorne arising from the Restricted Funds can be used in accordance with the obJ"eGts of the Charity and is included in unrestricted fund income. Cawlal gains and losses arising on the investments fomi part of the Restncted Fund. (g) Income from investments is accounted for in the year in which it receNable. Interest on bank and stockknker deposits is accounted for in the year which it ts r1ved. (h) As a Registered Charity. no liabilty to tsxation arises.
Warwickshire PJIark Benevolent Fund Notes to the Accounts . 31 August 2023 Investment Income 2023 2022 Dividends and ed interest receipts Interest reoived 14.564 524 13,182 14 15,088 13,196 Non8 of the Trustees were reimbursed for expenses throUght the current and previous year. No remuneration was paKI or payabte in resK*ct of the year out of the funds of the Tnjst either directly or indirectty to any Trustee or to any person known to be conneded wtth them. Grants 2023 2022 Grarrts paid during the year. Hospices and other charities furKled by WMBF 9.252 9,252 7,534
Warwickshire ljlark Benevolent Fund Notss to the Accounts - 31 August 2023 Inveslments 2023 2022 Market value as at 31 August 2022 Additions Disposals Realised gainsl(loss) on disposal Unrealised gainsl(loss) on disposals 412.551 17.978 (25.031) { 1.305) (31,373) 423,091 55,449 (39,74) 578 { 26,793 Market valu8 at 31 August 2023 372,820 412,551 Book value at 31 August 2023 380,453 394,277 Inveslrnents at Market Value comprlsod: UK equities. unit trusts & foreign bonds 372,820 412,551 Re8trlcted Funds Warwickshlr• Endowm't 2027 Rès.Fund Total At 31 August 2022 Income from Mary Jones Furm Surplus For Year Realised gainl{loss) on investrnent Unrealised gainl(loss) on investment 282,884 4.765 9,127 (551) {20,698) 184.941 467.825 4,765 9,127 { 1305) (31,373) (754) {10,675) As At 31 August 2023 275,527 173,512 449,039
10 WaThvickshire Mark Benevolent Fund Notss to the Accounts- 31 August 2023 Restrlcted Funds (Conlinued) Wan¥lckshlre Fostlval 2027 Fund The Grand Lodge of Mark Master Mason set-up the Mark Benevolent Fund IMBF) in 1886 as a grant making body to support irKltgent Mark Masons. Overthe years the MBF has expanded its scope enomously and is well endowed. The MBF is funded by charitable contributions from Mark Master Masons, and these are largety collected using the fund-raising vehide of an Annual Festival. These Annual Festivals are dealt with on a rotation basis. A Festtval will come round once every 45 years for each Province. Although this system seems. on the fa of it, to not be unduly demandirKJ finanoally in WaTrithshire it has teen fell that to ameliorate the impact of recurring Festivals on the &etS of our mernber5 furKls would, on an annual basis, be PLrt aside into a restricted reserve to meet some part of the financial commttment to the Festival in the year it falls due. These restricted funds are invested by the stockbroker in lowlmedium risk stock a1 shares on the basis that, during the four or fjve year period leading up to 2027, the investrnents would be liquidated at aF¢)ropriate moments to mitigate any financial risk to the funds that have been put aside. These risks are supervised by a su committee of trustees in conjunction with the stockbroker and a port is submttted 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 rf trustees feel that there are more than sufficient balances held. The WMBF EndlY•Mnt Reserve Fund { fornrty IAary Jones Fund) This substantFal restriced 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-tem Lodge Almoner. Mary Jones approached the Chaimian to discuss part of her revised Wll and it was suggested to her that she could leave money as an 'erKlowment fund, with the Trustees ofthe IMrtBF having discretion as to the charitable use to which the income c¢)uld te used. Mary Jones subsequently asked her solicitor to advise her and draw-up her new Wll. Income from the fund is currenty being used to support the WMBFS Commrtrnent 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 a large part. Membets of the VnlBF are quEty asked to consider *acies to the MIBF. As and when Jrther legacies are received the name of this reserve has been changed to 'Endowment Resee, in order that the accounts do not become too encumbered with multiple reserves serving identical wrposes. Allocation of Funds 2023 Total Funds 2022 Total Funds Unrestricted Restricted Funds Funds Investments Cash at bank and in haThJ 213.626 69.258 198,925 (13,984) 412.551 55.274 423.091 55,807 Total assets 282.884 184.941 467,825 478,898
11 Warnickshlre IAark Benevolent Fund Notes to the Accounts- 31 August 2023 Related Party Tran&qctions There were no related party trartsaC1i throughout the ojrrent and previous year. Control The Charity was under the ntrol of the Trustees throughout the current and previous year.