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2021-12-31-accounts

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

Charity Registration No. 216754

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J R Weaver
R B Pemberton
A Cadman
P Robinson
N Garavini
D Foulkes
D P Price
S D Aucott
D J Kettle
R Brooks
P Mills
S Wilson
A Clarke (Appointed 16 April 2021)
Charity number 216754
Auditor Dyke Yaxley Limited
1 Brassey Road
Old Potts Way
Shrewsbury
Shropshire
SY3 7FA

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

CONTENTS

Page
Trustees' report 1 - 5
Independent auditor's report 6 - 9
Statement of financial activities 10 - 11
Balance sheet 12
Notes to the financial statements 13 - 23

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the association's By-laws, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The general objects of the Association are to increase the amount, and render more effective the collection, application and administration of the funds raised in the Province of Shropshire for Masonic and Non-Masonic charitable purposes. To achieve this two funds have been established, called respectively the 'Central Masonic Charitable Fund' (Central MCF) and 'Shropshire Masonic Charitable Fund' (Shropshire MCF). The funds consist of all donations and annual subscriptions paid to the Association. The allocation ratio of receipts between the Central MCF and Shropshire MCF is approved by the members at the Annual General Meeting of the Association.

The Funds are applied as follows:

Central MCF

For and on behalf of:-

i. Any or more of the Masonic Charitable Institutions managed under the umbrella of the Masonic Charitable Foundation (the MCF);

OR

ii. Such Non-Masonic charities as the members of the Association shall from time to time decide by resolution.

Shropshire MCF

For :-

i. The Provincial Benefit;

AND

ii. The Association’s working expenses fund.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the association should undertake. The trustees consider the objectives and activities of the association are of a public benefit.

The Association has very close relationships with the various Lodges and Chapters within the Province. As stated above, the Income of the Association is derived from the donations of the members of these Lodges, together with the subscriptions from the Lodges and Chapters.

Achievements and performance

The Shropshire Masonic Charitable Association has maintained its focus on raising funds for the support of Shropshire based non masonic charities and supporting Shropshire Freemasons and their families in financial need.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

Incoming resources are again lower for this year, down by 2 %. There were fewer requests for Charitable aid this year with only £31,810 of the £40,000 precept being distributed.

The investments held on behalf of the Pointon Forest Glen Trust have shown an increase in value of 12% compared to an increase of 3% in 2020. This increase/gain is due to a revaluation of the investments to market value at the year end.

The restricted fund has increased from £58,886 to £ 69,073 . The restricted fund is made up of five funds:

Central MCF

The Central Masonic Charitable Fund is to support the four main Masonic Charitable Institutions managed under the umbrella of the Masonic Charitable Foundation.

CERF

The Coronavirus pandemic continued from the year of 2020 throughout the year of 2021 and continued to disrupt the regular meeting arrangements of the Lodges and Chapters of the Province. Although the specific Charities were not supported in the same manner as they were in the previous year. The Covid Emergency Relief Fund (CERF) started in 2020 was carried forward through 2021 and has a balance of £1,567 this in turn will be carried through the year of 2022 or until the Trustees decide to reapportion the funds.

Festival 2030

The 2030 Festival Fund is to receive and manage in a cost-effective manner, the donations to the 2030 Festival in support of the Freemasons Grand Charity (one of our four Masonic Charities).

Teddies for Loving Care (TLC)

TLC continues at pace and is very popular with the recipients as continued letters of thanks are received. Unfortunately, towards the end of 2021 the cost of supply has gone up quite substantially. The province is expecting to distribute around 2 , 400 Hospital Bears in 2022 which will cost £5 , 500. If ALL Lodges were to contribute £175 each this would cover the costs – but unfortunately some Lodges are not assisting with this most popular project.

Easter Egg Appeal

2021 saw the start of a new initiative called the Easter Egg Fund, for the purpose of buying easter eggs and distributing them to disadvantaged children in the Province of Shropshire. It was believed the sum of £500.00 would be required to fund the objective, and an appeal went out as such, raising the incredible sum of £2 , 295.50. The purchase of the eggs cost £557.60, and were duly delivered, a balance of £1 , 737 .90 will be carried forward.

Endowment Funds

The endowment funds represent permanent endowments donated to be administered by the Association, the income from which is expended in accordance with the terms of the Trust. Endowment funds increased to £124,856 at 31 December 2021, from £116,310 in 2020.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Funds

Unrestricted funds total £ 156,843 at 31 December 2021 (2020: £154,732).

Reserves policy

The trustees of the Association have adopted a reserves policy regarding the unrestricted funds based on a target level of reserves to maintain their level of charitable donations for a period of three years (at current rates, a total of £120,000). To this end, the trustees consider that the existing reserves are adequate for this purpose.

Investment Policy

The return on the funds invested remains low because of the interest rates prevailing, which remained at an historic low for some time, although there are signs that interest rates my start to increase in the not-too-distant future. The committee have reviewed alternative investments which may provide a greater return, but they carry a greater risk than the current investments and the committee does not feel the potential increase in return warrants the exposure to the risk. Therefore, the committee intends to continue with their investment policy (which remains under regular review) and keep the funds on deposit.

Risk Factors

The trustees have assessed the major risks to which the association is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Coronavirus - Going Concern Impacts

Coronavirus is expected to have only a limited impact on the ability of the association to operate as a going concern during 2022. Income is largely derived from Direct Debit payments of which are expected to remain largely unchanged. Conversely, expenditure is planned and subject to rigorous budget control and Trustees approval in all cases.

Plans for future periods

The Association intends to continue obtaining funding for both of its main funds and to make donations to Masonic and Non-Masonic charities.

Structure, governance and management

The Association operates in accordance with its By-Laws and is a Registered Charity with the Charities Commission in England and Wales, number 216754. The registered address for the Association is Freemason’s Hall, Crewe Street, Shrewsbury.

The By-laws of the Association is the “Shropshire Masonic Charitable Association By-Laws”, dated 2 nd September 2020.

The trustees who served during the year and up to the date of signature of the financial statements were: J R Weaver

R B Pemberton A Cadman P Robinson N Garavini D J Hill (Resigned 30 April 2021) J C Hollick (Resigned 30 April 2021) D Foulkes D P Price S D Aucott D J Kettle R Brooks P Mills S Wilson A Clarke

(Appointed 16 April 2021)

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

The Patron of the Association is the Provincial Grand Master.

The general management of the Association is conducted by a committee consisting of the following ex-officio and elected members: -

The committee shall meet as and when the Chairman may consider necessary or upon a requisition addressed to the Secretary and signed by the Patron and at least five members of the committee.

At any meeting of the committee, five members shall form a quorom.

Application for funds

Application for assistance of the Association may be made through the Master and Officers of any Lodge in the Province entitled to the benefits of membership. All applications are made to the Secretary of the Association, who shall then refer it to the committee.

Induction and training of trustees

The Association has established induction procedures. New trustees are given information on charity and trustee responsibilities together with information about the Association, its history and its plans for the future and its constitution. Included is an explanation about how the Association’s affairs are conducted on a day-to-day basis. New trustees meet key committee members as part of the induction procedure.

The Trustees are familiar with charity governance through other work they do, and they ensure the Trustee body is updated as appropriate.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and 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 association and of the incoming resources and application of resources of the association for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the association 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 association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' r eport was approved by the Board of Trustees.

.............................. J R Weaver Treasurer

Date: .............................................

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

Opinion

We have audited the financial statements of Shropshire Masonic Charitable Association (the ‘association’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the association in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the association’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the association’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

Irregularities including fraud

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities Act 2011 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

We did not identify any key audit matters relating to irregularities, including fraud.

As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matter s

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" ( as amended ) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Griffiths (Senior Statutory Auditor) |[“6] for and on behalf of Dyke Yaxley Limited

......................... 1 April 2022

Chartered Accountants Statutory Auditor

1 Brassey Road Old Potts Way Shrewsbury Shropshire SY3 7FA

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2021
2021
2021
Notes
£
£
£
Income from:
Donations and legacies
2
38,934
17,120
-
Charitable activities
3
1,135
-
-
Investments
4
1,520
-
-
Total income
41,589
17,120
-
Expenditure on:
Charitable activities
5
39,478
6,933
-
Net gains/(losses) on investments
9
-
-
8,546
Net movement in funds
2,111
10,187
8,546
Fund balances at 1 January 2021
154,732
58,886
116,310
Fund balances at 31 December 2021
156,843
69,073
124,856		 Total
2021
£
56,054
1,135
1,520
58,709
46,411
8,546
20,844
329,928
350,772		 Total
2020
£
56,754
1,752
1,632
60,138
90,309
2,286
(27,885)
357,813
329,928

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Prior financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2020
2020
2020
Notes
£
£
£
Income from:
Donations and legacies
2
32,308
24,446
-
Charitable activities
3
1,141
611
-
Investments
4
1,623
9
-
Total income
35,072
25,066
-
Expenditure on:
Charitable activities
5
60,541
29,768
-
Net gains/(losses) on investments
9
-
-
2,286
Gross transfers between funds
(10,000)
10,000
-
Net movement in funds
(35,469)
5,298
2,286
Fund balances at 1 January 2020
190,201
53,588
114,024
Fund balances at 31 December 2020
154,732
58,886
116,310		 Total
2020
£
56,754
1,752
1,632
60,138
90,309
2,286
-
(27,885)
357,813
329,928

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Investments
10
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds
13
Income funds
Restricted funds
14
Unrestricted funds		 2021
£
274,122
(3,375)		 £
80,025
270,747
350,772
124,856
69,073
156,843
350,772		 2020
£
261,725
(3,276)		 £
71,479
258,449
329,928
116,310
58,886
154,732
329,928

The financial statements were approved by the Trustees on .........................

.............................. J R Weaver Trustee

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

The Shropshire Masonic Charitable Association, also known as the SMCA, is registered with the Charity Commission, registration number 216754. The registered office of the Association is Freemasons Hall, Crewe St., Shrewsbury, SY1 2HQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the association's by-laws, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The association is a Public Benefit Entity as defined by FRS 102.

The association has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the association . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the association has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Shropshire MCF was the sole unrestricted fund in the year.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Membership donations are allocated by the trustees (annually) to a restricted fund Central MCF, t he funds are then used in accordance with the funds purpose.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the association.

1.4 Income

Income is recognised when the association is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the association has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised when received/claimed.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the association has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Resources expended are analysed between the different categories of expenditure as follows:

Donations paid in furtherance of the charity's objectives include donations to other Masonic c harities, nonMasonic charities and individual beneficiaries.

Support and g overnance costs are those incurred in connection with organisational administration and compliance with constitutional and statutory requirements , set out in the notes to the accounts.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Donations and gifts
38,734
17,120
Legacies receivable
200
-
38,934
17,120
Donations and gifts
Central MCF
-
2,425
CERF
-
-
Festival 2030
-
8,370
TLC Appeal
-
4,030
Easter Egg Appeal
-
2,295
Shropshire MCF
38,734
-
38,734
17,120		 TotalUnrestricted
Restricted
funds
funds
general
2021
2020
2020
£
£
£
55,854
32,308
24,446
200
-
-
56,054
32,308
24,446
2,425
-
5,749
-
-
11,850
8,370
-
4,517
4,030
-
2,330
2,295
-
-
38,734
32,308
-
55,854
32,308
24,446		 Total
2020
£
56,754
-
56,754
5,749
11,850
4,517
2,330
-
32,308
56,754

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

2
Donations and legacies
Legacies receivable
Shropshire MCF		 200
200		 -
-		 200
200		 -
-		 (Continued)
-
-
-
-

3 Charitable activities

Shropshire
MCF
Festival
2019
Shropshire
MCF
2021
2020
2020
£
£
£
Merchandise
1,135
611
218
Misc Receipts
-
-
923
1,135
611
1,141
Analysis by fund
Unrestricted funds - general
1,135
-
1,141
Restricted funds
-
611
-
Investments
UnrestrictedUnrestricted
Restricted
funds
funds
funds
general
general
2021
2020
2020
£
£
£
Deposit interest
-
153
9
Dividend income
1,520
1,470
-
1,520
1,623
9		 Total
2020
£
829
923
1,752
1,141
611
Total
2020
£
162
1,470
1,632

4 Investments

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Charitable activities

Central MCF TLC Appeal Easter Egg
Appeal
Shropshire
MCF
2021
2021
2021
2021
£
£
£
£
Merchandise
-
-
-
77
Direct Costs
-
4,375
558
-
Donations
2,000
-
-
33,460
2,000
4,375
558
33,537
Share of support costs
(see note 6)
-
-
-
1,987
Share of governance costs
(see note 6)
-
-
-
3,954
2,000
4,375
558
39,478
Analysis by fund
Unrestricted funds -
general
-
-
-
39,478
Restricted funds
2,000
4,375
558
-
2,000
4,375
558
39,478		 Total
2021
£
77
4,933
35,460
40,470
1,987
3,954
46,411
39,478
6,933
46,411		 Total
2020
£
6,893
2,592
76,133
85,618
942
3,749
90,309
60,541
29,768
90,309

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Charitable activities

(Continued)

For the year ended 31 December 2020
Merchandise
Direct Costs
Donations
Share of support costs (see note 6)
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds - general
Restricted funds		 CERF
Festival
2019
TLC Appeal Shropshire
MCF
£
£
£
£
-
6,893
-
-
-
-
2,592
-
20,283
-
-
55,850
20,283
6,893
2,592
55,850
-
-
-
942
-
-
-
3,749
20,283
6,893
2,592
60,541
-
-
-
60,541
20,283
6,893
2,592
-
20,283
6,893
2,592
60,541		 Total
2020
£
6,893
2,592
76,133
85,618
942
3,749
90,309
60,541
29,768
90,309

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

6 Support costs

Support
costs
Governance
costs
£
£
Printing/stationery/year
book
1,616
-
Rent
371
-
Miscellaneous
-
-
Audit fees
-
3,374
Secretary/Treasurer
expenses
-
580
1,987
3,954
Analysed between
Charitable activities
1,987
3,954		 2021
Support
costs
Governance
costs
£
£
£
1,616
6
-
371
570
-
-
366
-
3,374
-
3,396
580
-
353
5,941
942
3,749
5,941
942
3,749		 2020
£
6
570
366
3,396
353
4,691
4,691

The trustees have decided to meet all governance and support costs from unrestricted funds and so no allocation or charge is made to restricted funds.

Governance costs includes amounts payable to the auditors of £ 3,374 (2020- £ 3,396 ) for audit fees.

7 Trustees

A total of £58 0 (2020: £420) was reimbursed to two members of the trustees committee in the year (2020: two). These payments were primarily for printing, postage and stationery costs incurred. No members of the committee or anyone connected to them have received, or are due to receive, any remuneration for the year directly or indirectly from the Associations' funds (2020: none).

8 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Net gains/(losses) on investments

Endowment Endowment
funds funds
2021 2020
£ £
Revaluation of investments 8,546 2,286

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

9 Net gains/(losses) on investments

(Continued)

The revaluation is based on a market value dated 31st December 2021 from the London Stock Exchange, which is subject to change under market conditions.

10 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2021 71,479
Valuation changes 8,546
At 31 December 2021 80,025
Carrying amount
At 31 December 2021 80,025
At 31 December 2020 71,479

The legacy for the Pointon Forest Glen Trust was received in the form of cash and invested by Messrs Tilney & Co. and has been provided for in these accounts at market value. The original cost of the investment was £10,059.

11
Cash at Bank
Lloyds Bank - Current account
Lloyds Bank - Sales account
Lloyds Bank - Festival Management Account
Relief Chest - Shropshire MCF
Relief Chest - Festival 2030
Cash Tin - Cash Sales
12
Creditors: amounts falling due within one year
Accruals and deferred income		 2021
£
191,447
1,266
5
72,148
9,126
130
274,122
2021
£
3,375		 2020
£
216,449
338
5
40,408
4,525
-
261,725
2020
£
3,276

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

13 Endowment funds

Endowment funds represent assets which must be held permanently by the association. Income arising on the endowment funds can be used in accordance with the objects of the association and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Balance at
1 January 2020

£
Permanent endowments
EAS Barnes
Trust
32,873
Pointon Forest
Glen Trust
81,151
114,024		 Movement in funds
Incoming
resources
Resources
expended
Transfers Revaluations
gains and
losses
Balance at
1 January 2021

£
£
£
£
£
-
-
-
-
32,873
-
-
-
2,286
83,437
-
-
-
2,286
116,310		 Movement in funds
Incoming
resources
Resources
expended
Transfers Revaluations
gains and
losses
Balance at
31 December
2021
£
£
£
£
£
-
-
-
-
32,873
-
-
-
8,546
91,983
-
-
-
8,546
124,856

The endowment fund is made up of two funds, the E A S Barnes Trust and the Pointon Forest Glen Trust. Both funds were donated to the charity to provide income from the investment of the funds assets.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 January 2020 resources expended 1 January 2021 resources expended 31 December
2021
£ £ £ £ £ £ £ £ £
Central MCF 43,695 5,749 - (5,381)
44,063		 2,425 (2,000) (4,089)
40,399
CERF - 11,850 (20,283) 10,000 1,567 - - - 1,567
Festival 2019 901 611 (6,893) 5,381 - - - - -
Festival 2030 - 4,526 - - 4,526 8,370 - 4,089 16,985
TLC Appeal 8,992 2,330 (2,592) - 8,730 4,030 (4,375) - 8,385
Easter Egg Appeal - - - - - 2,295 (558) - 1,737
53,588 25,066 (29,768) 10,000 58,886 17,120 (6,933) - 69,073

The restricted fund is made up of five funds, the Central MCF, the Coronavirus Emergency Relief Fund (CERF), the Teddies for Loving Care Appeal (TLC Appeal), the Easter Egg Appeal and the 2030 Festival Fund.

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

15
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2021
2021
2021
£
£
£
Fund balances at 31 December 2021 are
represented by:
Investments
-
-
80,025
Current assets/(liabilities)
156,843
69,073
44,831
156,843
69,073
124,856		 TotalUnrestricted
funds
Restricted
funds
Endowment
funds
2021
2020
2020
2020
£
£
£
£
80,025
-
-
71,479
270,747
154,732
58,886
44,831
350,772
154,732
58,886
116,310		 Total
2020
£
71,479
258,449
329,928

SHROPSHIRE MASONIC CHARITABLE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

16 Related party transactions

A number of the Association's trustees are trustees of other charities which have received donations from the Association.

There were no other disclosable related party transactions during the year (2020 - none) .

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