REGISTERED CHARiff NUMBER: 263137 Roport of th• TN•t•o8 and Flnanclal Slatoments for tho Year Ended 31st March 2023 Tho Masons Company Charltabl• Trust
The Masons Company Charltable Tn1 Contonts of Flnancial Stat•m•nts for th• year endod 31st March 2023 Pa98 Rewrt of the Trustses 1to3 Independent Examiners Report Statemenl of Flnanclal Actfvitl85 Balance Sheet Notes to th8 Flnanckl Ststements 7t010
THE MASONS COMPANY CHARITABLE TRUST Annual Ro ort for the ear ended 31 March 2023 Th8 Masons Company Chartlab16 Trust is a Registered Charity No. 263137. The Trustses during the year to 31st March 2023 were'.- Mr Mr P Hynard Chairman, Appolnted 22n¢ March 2021 Mr W.J.Gloyn Deputy Chaiman, Appointed 4th October 2018 Mr M.E.Macdonald Appointed 9" October 2018. Mr C.D.Bryce Appointed 26th March 201 g Rl.Rev.J.M.R.Baker Appointed 26, March 2019 Mr D.W.Neill Appoint8d 8th October 2019 Mr R.A. Wllllams Appointed 22nd March 2021 Mr M.J. Low Appolnted 5" July 2022 Mrs H.K.W. Pryke Appointed 5th July 2022 The Trustees ere appointed by The Court of Assl$l8nls of The WorshSpful Company of Masons. and the Trust is administered by Miss Jolanla Glas and the treasurer Mr Mark Macdonald at 8 Lillle Trlnity Lane, London, EC2V 2AN. The baslc accountlng Is done by Mlss Jolanta Glass and the production of the flnal accounts by Mr Mark Macdonald with advic8 Iwh8r8 ne¢gssaryl from Grenfell James Assoc18tes Limited of 3 The Courtyard, Timothys Brldge Road, Strattord Upon Avon, Warwickshire, CV37 gNP. The stockbrokers to the Trust are J.M.Finn & Co Ltd at 25, Copthall Avenue. London EC2R 7AH, whose Partner responsible for the Trust's portfolio is Mr Mark Powell. They also m8n8ge investments on behalf of The Worshipful Company of Masons. If an occasion arises wh8n18gal advice is requlred, on an 8d hoc basis this would be sought from Rooks Rider Solicilor8, ChalSoner House, 19 Clerkenwell Close, London. EC1R ORR. Structure, Govornanc• and Managom•nt Under present procedur68 11 is understood that new trustees nomally serve for period of five years, with a possible extension for a further period of two years. The Trustees continue to monitor their exposure lo risk. For example, risk has been miligated using intemel banking arrangements by ensuring that The Chairman of the Trust, four other Trustees and the Administrator can separately view account details at any time.
Objectives and Activiti98 The objects of the Trust are:. (i) the relief of poverty (li) Ihe advancement of education (iii) the advancement of religion and (iv) Such other legally d)8rilable purposes as the Trustees shall frcffn time to time by deed executed with their unanlmous consent dedare. The Trustees meet fomally four times 8 year and rA)nsuli infomally as often as necessary. They discharge their duti8s by monltoring their investment portfolio aTrJ arranging for the incom8 to be donated to charities and other organisations arKI events supporting Natural Stone and City of LorKlon interests. The Trusle8s a mindful of thè requirement to ènsure that the Charity has objectives that are applied for public benefit. The twsl makes grants lo appropriate bodies that care and foster many of Britain's most historic buildings which are constructed of stone as well as organisations that care for the peopl8 who carry out maintenance of Such buildings. In today's society, the public has a clear wlsh to preserve such buildings and create new on8s. but this is under threat through 18ck of funding to support the tralning of stonemasons. The Charitable Trust seeks to help allevial8 Ihls problem. The Trustees therefore have no hesitatbn In claiming that the publlc receives benefit from ils adivities. The Trustees are also endeavouring lo fund ston8 related projects that Involve young people of school age and whbch are likely lo encourage Ihem to take an interest in ston8, stone carving and our County's building heritage perhaps 188ding them into progre8sing a career In St0mas0nry or stone carv1. Achlevoments and PerfomMnc• Th8 Trust made grants of £30.858 in the financlal year 2022-23 (£38.282 for 2021- 22). Rellgious buildings were beneflclaries of £5,750. the Lord Mayor of London's Charity Appeal was supported by a grant of £1.000. In addition. 8s a resull of promoting our schools outreach project, grants were made of £4,500 to support schools and organisations that encourage young peopl8 to become involved in stone carving. A number of specific day and haff day sessions were run and more are planned. Further minor grants within the compass of the Trust Deed of £19.608 were made during the course of the year. Efforts contlnued to increase the income of The Trust by encouraging members of The Livery Company io make regular donations. Financial Review The Trust Funds are invested in trustee securitss on the advice of J M Finn & Co Ltd. Stockbrokers, vtho also manage the investments of The Worshipful Company of Masons. Investment incom8 for the year totalled £16.580 against £16,869 the pr8viou8 year. Investrnent aims and objectives provided to J M Finn & Co Ltd have an overall obj8clive to seek a combined retum from income and capital adopting a medium risk portfollo with no specffi8d minimum percentage of low risk investments. In order to
meet the obiectsve the Trustees have selecled a discretionary managed portfollo service. The Irustees have also agreed to use 70Yo SE Alkshare Index130% FfsE UK Gilts Index (totsl retum) as a Gomparator. The Charity maintains sUffIent reserves in cash to caryy out our charitabSe giving during the year. W8 hold a wide variety of equty investments that Can be called upon rf necessary. The Charitsble Twst owns the Free1ld Interest in a block of flats at Haven Green, Ealing and its share of the ground rent income VRS £15.O¢x) during the year. In addition a licence is in place for a telecommunication mast on the rC)f of the building, generating additional annual income of £2,100. From time to time lease extensions ar8 granted that resutt in premiums being received by the Trust. Overall income including that from Bank Deposits, Rents and various Livery Company donations was £37.936 (£29,113 in 2021-2022) Plans for Future Periods The Trustees, as well as continuing their current policy of grants. intend to continue increasing support for education81 projects that introduce young people to stone masonry particulady through the school's outreach program wtth taster days run by cathedrals and other educational organisations. The Trustees continue to support the Livery Company's involvement with The Weald and Downland Museum, and are expanding the mM[tinent at The Ironbridge Museum. On behatf of the Trustees Date 2S.to. 13
orshl Icom Mas Cha Indopgndènt gxamln•rs Report to the Truste of Th• Mason• Company CharFlable Trust Ith• Tmst) We report on the ants of the Tnjsl for the year ended 31 IAarch 2023, are set out on pages 5 109. R•spèctlve r•sponslbilili8• of trust0 and oxamlnor The charity's trustees. ¥re responsible for th¢ preparation of the 8cLounts. The charis trustees wnsld8r that an aud51 Is noi requlTed thbs year under sectiC 144121 of the Charities Act 2011 (the 2011 Act) and that an independent MinatiOn 18 needod. 11 l¥ our rnsponsibility to: examine Ihe accounts under srfuon 145 of the 2011 Ad, to follow the piocedures laid down in the general DIred1¢y glven by ihe Charlty Crynmlsskjn undèr section 145(5Xbl of the Act,. and to stste whether particular maittys have lo att•nlOon. Ba818 of Ind•p•nd•nt Ex*mln•rn R•port Our examin8llon was carried out In acc(Kdan¢o vAlh the general glven by the Chadty Cornmisslon. An examinatlon Indudès 8 re8W of th8 •Cnting re¢onls kept by the charlty and a comp8rison ol the accounts presented wlth those llIs. 11 also indudes conslderallon of any unusual Items or disclosure$ In the accounts, and se8klng explanations from you as Imslees concerning any such matters. The pro¢edures undertaken do not provkle all Ihe evldence that would ba rgqulièd In em audll, and consequgnlly no opInSc Ss given as to whather the accounts present a Irue and fair vSew' and the report Is Ilmll•J to Ihose matters set out Sn th8 statemonl bebaf. Ind•p•ndont Examln•r• St•t•m•nt In connecllon wlth our examination. no m8tter has come lo c4Jr 8ttenllon'. 111 whlch 9Sv6¥ us reasonable cause lo bdievo thal In any malerfal Tespect the r6qu0rnmts'. to keep a¢coun¥ng records In ¥¢)18nce with 8ectton 130 of the 2011 A¢l'. and to pr8par8 accounts whlch 8CCOT(17thth thè 8ntift9 rgv)rd$ and compty wlth the accountlng requ1mentS of the 2011 Act, h8ve not been mel. 121 lo whlch, in our opinlon, attwllon 8houKI drawn In or¢ler to enabl¥ ¥ proper undèr8tandlng ol th8 aounts lo be reached. We have no con¢ems and have come aeross no othgr mallets in connecllon with the ex8mination lo whlch attèntlon shtyjld be drawn in this r•port In cKder lo enable a proper understandlng of the accounts to be reached. B P Woodward FCA 2 rS Close Bledington Oxon OX7 6UA D Reg8 Thakes 33 The Street Manuden CM23 1DF Dale..
The Masons Company Charitablo Tn*l Statement of Financial kuvities for the year ended 31st March 2023 2023 Total fund 2022 Total funds Notes INCOMING RESOURCES Incomlng resources from generated funds Voluntary income Investment Income 20.740 42,710 17.812 28,170 Total In¢omlng resources 63.450 45.982 RESOURCES EXPENDED Charftable acllvltles Main Fund Othèr res¢)urces expfynded 30.858 8,254 36,283 7,725 Total r•sources expended 39.112 44,008 Net Incoming resources bofore othor recognlsed galns and losses 24,338 1,974 Other gainsllossos Net g8inslllosses) on inve5trnent property Net gainsl{losses) on investrnents ( 1,454) 20,140 Not movement in funds 82,116) 22,114 RECONCIUATION OF FUNDS Total funds brought forward 681.756 659,642 TOTAL FUNDS CARRIED FORWARD 599.640 681.756 The leS form part of the financaal statements
The Masons Company Charftable Trust Balance Sheet As at 31st March 2023 2023 Totsl fund 2022 Total fund FEXED ASSETS Investment property Investments 100 654,166 654,266 556,463 556,563 CURRENT ASSETS Debtors 3.879 1.575 Cash at bank 45.003 27,415 48.882 28,990 CREDrroRS Amounts f811ing due within one year 5.805) { 1,500) NEf CURRENT ASSETS 43,077 27.490 TOTAL ASSETS LESS NET CURRENT LIABILITIES 599,640 681,756 NET ASSETS 599,640 681,756 FUNDS Unrestrfcted fulS Restricted funds 599,640 687,146 ( 5,390} TOTAL FUNDS 599,640 681,756 The financial statements V4Ere approv1 by the Board of Trustees on .... signed on its behaff Trustee These notes fom part of the fina[la1 statements
The Masons Company Charltable Trust Notos to the Flnanclal Statements for the year ended 31st March 2023 1 ACCOUNTING POLICIES Accountlng Convontlon These accounts have been prepared under the hk8torical cost convention with items recognised at o)st or transaction value unless otherwise in the relevant rK)tels) to these accounts. The accounts have been prepared in a0aTr wilh the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) issued on 16 July 2014. Finanual Reporting Standard applicable in Ihe United lQngdom and Republ of Ireland IFRS 102) and with the Charities A£i 2011. Incoming resources These are induded in the Slatement of Finanaal Aclivities (SOFA) when.. the charlty becomes entitled to the resources. it is more likely than not that the tnjstees Mll receive the resources" and the monetary value can be measured with sufficient reliability. Rosources expended LSabilities are recognised where it is more likely than not thal there is a legal or nstruCtive obligation committing the tharity to pay out re%)ur¢es and the amount of the obligatlon be measured with reasonable cerlainty. Support o)sts have been allated beiween govemance costs and other support. Governance costs comprise all costs involving public accountsbilty of the drity and its compliance with regulation and good practi. Investment Property Investment property has been valued using the Cost Model as Fair Value c*nnot be measured reliably wthout undue cost or effort on an on%oing basis Investments Fixed asset investrnents in quote(1 shares. traded bonds and slmilar investments are valued at initially at cost and subsequently at fair value (their market value) al the year end. The same treatment is applied to unlisted investments unless fair value cannol be measured reliably in which Cas8 il is measured at cost less impairment. Taxatlon The company is exempt from tax on its charitsbl8 activities. Fund ac¢ounting Funds can be used in accxydance with the charitable objectives at the disc¥etion of the trustees. These rK)tes fomi part of Ihe ffinanL?al statements
The Masons Company Charltable Trust Notes to the Financlal Statements for the year ended 31st March 2023 2 Analysis of Income 2023 2022 Donatlons Donations Gift Aid 14,593 6,147 20,740 14,304 3,508 17,812 Income from Investrnents Rents received Investrnent income 17,100 25,610 42.710 11,300 16,870 28,170 Total income Analysls of expenditure 2023 2022 Administration support costs Bank charges 8,180 74 7.625 100 3 TRANSACTIONS WH TRUSTEES AND RELATED PARTIES TnBtg0 remuneratlon and bgnofits None of the trustees have been paid any remunwation or reNed any other benefits from an employment wllh their thanty or a related entrty Trustees. exponsgs No trustee5 expenses have been inc#JrTed. Transactions with relatod partl There have been no rdated party transacbons in the rewbng period. These notes foTh part of the finanaal statements
The Masons Company Charflable Tru$1 Not03 to the Financlal Ststements for tho year ended 31st March 2023 4 INVESTMENT PROPERTY 2023 2022 11)0 100 Not book value 1iy) 100 5 INVESTMENTS MARKET VALUE Al 31 sl March 2022 Addltlons Disposals ProflV{loss) on dlsposals R8valuation 654,165 103,125 (107,5661 8.934 (102.195) At 31st March 2023 556,463 NET BOOK VALUE Al 31st March 2023 556,463 At 31st March 2022 654,166 6 DEBTOR8: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2023 2022 Accrued Income 3,879 1,575 7 CREDITORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2023 2022 Acuuals for grants payable Other creditors 5,805 1,500 These notes fomi part of the financlal statements
Th• Masons Company Charltable Trust Not08 to the Flnanclal Statsments tor the year ended 3181 March 2023 8 MOVEMENT IN FUNDS Net incoming At 31.03.22 resources Realised & unrealisod galns Total gains At 31.03.23 Unrestrlcted funds Accumulated income Capltal acwunt 33,858 647.898 24,337 24.337 (1(ffj.454) (106,454) $8,195 $41,444 Re8tricted fijnds Total funds 681.756 24.337 106.454 82,117 599,639 These notes fomi p8f1 of the financial slaiements 10