Charity No 278761 The Oxfordshire Masonic Charity Trustees Report and Financial Statements For the year ended 30th June 2024
The Oxfordshire Masonic Charity Contents Page Legal and administrative infonY)atK Trustees rewt Independent examiners reFL)rt Statement of financial act1vitS Balance sheet Noles lo the financial statements 7- 11
The Oxfordshire Masonic Charity Legal and administrative inforniation Trustees M D Adams R H Hampshire AP Hill A H Barlow S P Quant A M Keech B Wegetthoff Charlty Reglstered Number 278761 Prlnclpal Address 8 King Edward Street Oxford OXI 4HL Independent Examlner J M Russell FCA Jusl Audit & Assurance Ltd 37 Market Square Witney Oxon OX28 6RE Bankers Barclays Bank PLC 54 Cornmarket Street Oxford OXI 3HB Sollcitors Spratt Endicott 52154 The Green Banry OKon OX16 9AB Page I
The Oxfordshire Masonic Charity Trustees Report For the year ended 30th June 2024 The trustees present thwr rewrt along wlith the financial statements ol the (harity for the year ended 311th June 2024. The financial statements have been epa in accordance the ants"n9 wlicies set out in note I to the accounts and comply with the charity'5 trust deed. the Charitie5 Act 2011 and the Statement of Recornmended PraLtice'Accounting and RerAYting by Charitses. ISORP 2005). Objects of the charlty The fund is a registered charity No.278761 estat4thtsJ under a trust deed on 3rd 1979, as amended on 21st January 1999 and 5th OCtoT 2011. The objects of the charrty are the relief of 5uth ond distressed Brother Mas5 lx thur pcoy and distressed widows and children, to or for the benefft of svth Masonic (harib'es or other charitsble institution5, Societies and objects as the l*ovincial Grand LocJ9e shall in duly consbtvted meeting from time to tirne adw5e. The trustees have paid due regard to gukdelines isgJ&J by the thatity Commission in deuding what artiwtyes the charity should indude. Trustees and admlnSstratlon Under the rules of the charity the trustees are the Provincial Grand Treasurer, The Provincial Grand Se¢retary, and the Provincial Grand Charity Steward5 for Craft al Chapter. The rules were amended lo Mable the trustee5 to apryjint other Mas5 wrth relevant skills. The Trustees who held ofnce duriThJ the year were.. A H Barlow A PHill R G Hampshlre S P Quant M D Adams B Wegerhoff A M Keech The prlncipal address of the charlty Ss B Klng Edward Street Oxford OXI 4HL The work of the charty Is carrSed t on an entlrety ¥dnt bas, no payment bang made to any Tnjstee or Commlttee member. Rèview of Activltles The Fund derives its income from datIonS 5ubxritred by MasonK Lodge5 makn'ng vp the Prownce of Oxfordshire, private donaty'ons and legac together with investment irKome from its worerty investmen( share portfolio and bank deFX)5its. The Comrnittee meets at least once a year to ConsKI any apwls for aSsiStsn rec•ved from Ma50nic charit and other Charrtable lnstituty.ons taking Inro acccxjnt the Chavty Commissions guidarKe on public benefrt. For a number of years it has assisted with a series of lunches held thrtyJghout the Prownce to provide comfort and sUpPt to masonic widows and distressed brethren.. around 300 indMdua15 attended in the year. Apart frorn such lunche5. the c05t of whith is shown in the attached financial statements. grants made during the year amounted to £51.67212023 £43.3271. The charity Supports sck and disadvantsged children wa it5 Pantomime PToject. with nearty 600 chikjren and thr carer5 attending. In considering what grants Mh1 be made the cornmittee takes care to ensure that contributions are made from available resource5. No tommitments have been made for future exFffidiiure though fvrther acqUIOn of investment property 15 under Con11eratI0n. The trustees con%der that there are no material urtutsinis alxxrt the thariivs ab¢lity to ¢CnUe a5 a going concern for the next 12 months. The brought forward ieseNes were £1,809,982. The carried fard reserve5 are £1.896.298. The net surplv5 for the year was £86,316 (2023 £25,599). Page 2
The Oxfordshire Masonic Charity
Trustees Report (continued)
For the year ended 30th June 2024
Reserves Policy
It Is nul thL N)Iiry of the trustce% to accumulate funds. The tDJStee& have rcviThved tho rescrves ol Iho charity
and th15 fL)VICW Lsncompass&l the tUre of the itKome aiKI exrture sirLams, thc ncLYJ to maich var13ble
Income iyith c0mrryitrnenE and tho notvre ot the reserves. The trusiees (sider that the current level of free
re5ervwi whic amount to £ 1.896,298 6 suff Icier,I lo enabk ihanty lo meet charItae obprtives and
¥vill therefore conDnuÈ with the pcAiq ol rtistritxjtirvj irKiyniry resources by way o. gra4ts.
A separate fund ha5 been created for the Pantomime proiett to track income and expenditure.
Risk Fartors
The trustees ttave as£essed the major risks to which trust will be eX[rd and a satisfied that Systems
ale In 0(¢ w mltigate these risks.
Future Plans
The ¥fustees 1ntend to continue making apprOlate granrs In accordance with the objects of the charity.
Trustees responsibility for the accounts
The trustee5 are ieJponsiblo for yrop
Th8 Oxfordshire Masonlc Charity Independent Examinerfs Report to the Trustees of the Oxfordshire Masonic Charity I report lo the Trustees on my examinatson ol the accounts ol the charity for the year ended 30 June 2024 ich are set out on pages 5 to 11. Respecttve responslbilitie8 of Trustees and examiner As the charity's Trvstees of Oxlordshire Masonic Charity you are responsible for the preparatM)n of the accounts in accordance wilh the quirementS of the Charibes Acl 2011 Ilhe Act). I repor1 in respecl of rny examination of the Oxlordshire Masonic Charity's accounls carried oul Under section 145 of the 2011 kl and in carrying out rny examinalion I have follo*pd all Ihe applicable Directsons given by the Charity Commission under section 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confifm that no material matters have come to my attenlion in connection wlh the examination giving me cause lo believe thal in any material respecl.. 1. accounting records were not kept in SpeCt ol oxlordsh1 Masonic Charity as required by section 130 01 the Act., or 2. the accounts do not a¢¢ord wth Ih05e records., or 3. the accounts do not comply wilh Ihe accounting requiremenls conceming Ihe forn and content of accoun1$ Set out in the Charities (Accounts and Reports) Regul8lion$ 21)08 olher Ihan any requirement that the accounls give a'true and lair vieW which is nol a matter considered as part of an independenl exarnin8ti0n. I have no conc8ms and havè com• across no othw MattS in conn1101) wih ihe examinatson to which altenlion 5h¢)uld be drawn in this reporl in order lo enaW¢ • proper understs11Thg ol ihè accounts io ba r82ched. M Russell FCA Just Audil & Assurance Ltd 37 Market Square Witney Oxfordshire OX28 6RE Dale.. Page 4
The Oxfordshire Masonic Charity ststement of Financial Activities PGLF Funds PaTrTrto Fund Totsl 2023 INCOMING RESOURCES Incoming res(xJrces frrm generated funds= Activities for geratIng funds.. C)nation5 InVtrnent income Rentsl irorne Panto game Sundry income & tedty sales 3.808 365 5,772 35,577 23,649 13.498 4,838 34.OS6 25,430 13.243 3,245 35,211 23.649 13,498 TOTAL INCOMING RESOIJRCES 17.672 84,502 80.812 RESOURCES EXPENDED C05t of generating funds Inve5trnent Manager's Fees operty expenditure Charltsble acb'mties Grants Widow5 lunches Teddy purchases Panto costs pan Game wnnors Charity gal Evanls Governance costs 2,718 2.018 2,718 2,018 2.705 1,669 36,672 2,197 13,130 15.1)Xl 51,672 2,297 13.130 9,87S 5,880 975 43.327 722 15.230 8.417 6,330 720 9,875 5.880 975 777 642 30,755 89,343 79,762 NET INCOMING RESOURCES FOR THE YEAR 8.242 113,0831 14,8411 i.oso (DEFICITIISURPLUS ON REVALUATION OF INVESTMENT ASSETS 91,157 91.157 24.548 MOVEMENT IN FUNDS 99,399 113,0831 86.316 25,598 FUND BALANCES AT l july 2023 1.782.040 27,942 1.809,982 1.784,384 FUND BALANCES AT 30 June 2024 1.881.439 14,859 1.896.298 1.809,982 Page 5
The Oxfordshire Masonic arity Balance Sheet as at 30 June 2024 2024 2023 No FIXED ASSETS Investments 7,8.9 1,836.595 1.739.269 CURRENT ASSEfs [bIorS at bank io 32,499 39,464 43.729 61.728 71,963 CREDITORS.. Amounts fallin9 due within one ye•r li 2.025 1,250 NET CURRENT ASSErs 59.703 70.713 TOTAL ASSETS LESS CURRENT LIA8ILrnES 1,896,298 5,809,98?. REPRESENTED BY- Unrestflcted Funds PJntp FurKt 12 12 1,881.439 14,859 1.782,04fl 27,Y2 1.896.298 1,809,9L12 Appinvvd by A M Keech On 8eliall ol the fiusio05 Dal8 Page 6
The Oxfordshire Masonic Charity Notes to the Financial Statements For the year ended 30th June 2024 ACCOUNTING POLICIES 1.1 Basis of preparatbon anil assessment of gcing tcern The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaLtion valLse unless otherwise stated in the relevant notels) to these accotjnts. The financial statements have been ppared in accordance with the Statement of Recommended Practice- Accounting and Rewting by Charities parIng their account5 in 8ccordan¢e with the Financial Reporting Standard applicable in the United Kingdom and Republic of Iland (FRS102) and the charikn.es Act 2011. The Charity constitutes a public tenefrt entity a5 defined by FRSIO2. The trustees consider that there ère no material uncertainties atout the tharitys ability to continue as a going concem the next 12 months. 1.2 Fund Accounting Unrestrirted funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objertives of the charity. and which have not been designated for other purpc6e5. Unrestricted funds consist of the general ieserves of the Charity 1.3 Inccffiing Resources All incoming resources are Induded in the Statement of Financial Actiwtse5 when the Foundation is legally entitled to the incrme, ènd the amount can be qualified with reasonable accuracy. The following Specific policies are applied to the main CategleS gf income.. . Investment income Is Sndu(led wthin the accounts when receivable. Investment gains and losses include any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to markel value at the year end date. . All other incoming rurceS are recognised within the Ststement of Finanaal Attivities on an accrvals b0515. • Income from legacy gifts is reccgnised on a tase by case basis foblowing the granting of probate when the administratorlexecutor of the estste has cmimunicated in writing both the amount and settlement date. 1.4 Resources Expended Expenditvre is accovnted for an accruals basis. A liobi14ty and related expenditure is recognised when a legal or constructive obligation commits the charity to expenditure that will wobably reqLtire settlement. the amount of which can be reliably measured estimated. Grants awarded are charged as an expense as as a legal or constructive obligation for their Page 7
The Oxfordshire Masonic Charity Notes to the Financial Statements (continued) For the year ended 30th June 2024 1.5 Investments Investments properties are initially recorded at cost and subsequentty measured at their fair value (market value) by the Trustees at eath reporting date. &rChaSe5 and sales of investment properties are recognised on exd)ange of contraLts. Listed investments are initially measured at thr cost and subsequently measured at their fair value at each reporting date. Fair value is based on their quoted price at the balance sheet date Witho dedurtion of the estimated future selling costs. The charity does not acquire options, derivatives ty other complex finanoal instruments. Changes in fair value. and galn5 and 1055es arislng on the diswsal of investments, are credited or charged to the income or expenditure section of the SOFA as 'gains or losses on investments. and are all(ated to the fund holding (K disposing of the relevant investment. 1.6 other Financial Instnjments Cash and cash equivalents indude cash at banks and in hand and short term deposits with a maturity date of 3 months or less. Debtors and creditors receivate or payable within year of the reporting dète are carrfed at their transaction value. Debtors and creditors receivable or payable in more than one year and not subje(t to a market rate of interest, are measured at the present value of the expected future receipts or payments dixounted at the market rate of interest, 2 INVESTMENT INCOME 2024 2023 Dividends from investment prytrollo Bank and other Interest receivable 33.143 2.434 32.433 1.623 35.577 34.056 3 GRANTS PAYABLE During the year, the charity made Grants totalling £51.672 (2023 £43.327) 4 TRUSTEES. REMUNERATIONS AND EXPENSES No remuneration wa5 paid or payable for the year. directyy or indirecuy. out of the ftjnds of the Charity, to any trustee or to any persons known to be connected any of them, in their capacity as Trustee. No exp&nses12023 £0) were Pa or reimbursed lo tnjslees in the year. S RELATED PARTY TRANSACTIONS None in the year. (2023 none) Page 8
The Oxfordshlre Masonic Charity Notes to the Financial Statements (continued) For the year ended 30th June 2024 6 GOVERNANCE COSTS 2024 2023 Sundry expenses Legal & Professional 88 554 642 7 ANALYSIS OP INVESTMENTS 2024 2023 Investments list a rectsJnised stc<k exchange Residential proprty Cash held as ol Investment pcwtfdio 1.198,288 615,759 22,547 1,107,132 615,759 16,378 1,836,594 1.739,269 One investment, Schroder Global Sustalnabie Fund1£326,3071, ¢omprised 26.7% of the portfolio 8 STOCK MARKEf INVESTMENTS 2024 2023 Balae brought forward as at 01 Juty 2023 at matet ue 1,107,132 1,082,584 d5Uons io Imie5tments at tost sUru$ on revaluatlons 91,157 24,548 1,198.289 1,107,132 Cash held as part ol Investment portlollo 22.547 16,378 Balance carried lorward as at 30 June 2024 at map*et value 1.220.836 1,123,510 PaRe 9
The Oxfordshire Masonic Charity Notes to the Financial Statements (continued) For the year ended 30th June 2024 9 Freehold Investment Property 2024 2023 Balance bl forward at l July 2023 at Maet value 615.759 615,759 Additions at cost Oisposals Surplus on revaluations Balance carried forward at 30 June 2024 at market value 615,759 615,759 The brought foard freehold properties were acquired in 2016 and 2018. The trustees consider that their current value Is not materialty different from that valuation. 10 DEBTORS: Amountlng lalllng due wlthln one year 2024 2023 Other debtors 17,999 32,499 17,999 32,499 Included In debtor5 Is a loan of £18.0 of which £IO.000 is repayable after more than one year 11 CREDrroRS: Amountlng falling due wlthln one ye 2024 2023 Accruals and deferred Irome 2,025 1,250 2,025 1,250 Page 10