Charlty r•glstration number 279313 DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) LEGAL AND ADMINISTRATIVE INFORMATION TrustM• J. D. Vktts Ichoinnanl S. A. Wllis reasUrer) T F. Gittin$ Isttratsry) Dutham Benevclence Limited D. Chwrn)an) IApp)Inted 11 March 2023) D. Maw 18 also a member ofth? Communty Support Su(%mIttee The ft>llowSng ar• •lJo m•mbw8 of tho Gonoral Purpos•s Commltt••: G. Elg68 {Assi8tsnt Secretary) P. B. Debenham {Prowncial GraTrJ Almoner) P. Quinn IProvinaal Grand Charlty Steward) M•mb•rn D. Dunn" S. Bell S. Hunter. P. Ross ' l. K. Carter M. Rankln PA. Dovies l. Grove8' K. Hite$" C. Katsamkn's. A. Tlwnp80n' . Member8 of E8181•$ 6ub<ommittee A Memb8r8 rrt the Communlty SIW GTants 8tAKommltteo Charlty numb•r 279313 Prlnclpal addre 8 The E8F48nadg Sundedand Tyn8 & SR2 78H AudltOT Ajlen Sykes Limited 5 Henson Cb8e S(xrth Churth Enterylse Pa &shq)Aucki¥#J Co Durham DL14 6WA
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) LEGALAND ADMINISTRATNE INFORMATION Sollcltors Peter Ross and Co 2 Front Street Jasmine Villa$ Whickham NewCaSe LI> NE16 4JH Bankorn Nalion81 Nfystmlnster Bar P 52 Fawcett Street SurKlerland SR1 1SB Vlrgln Pk¥ney 43 FawGett Streol Sundedar SR11SA S4 F&¥cett Stre•t Sunderland SR1 1SF Stockbrok•rn R8thb)nes SO GeoTrJe Squa Glasgow G2 1EH Bw'n Dolphin 12 Smrfhfièld Slreet Lonthjn EC1A9L4 Hou•lng M•fftag•m•nt Ne8t Egg Home8 49 Mandale Road Thomaby Cveland TS17 6AD Sh•ltsr•d Houglng Dev•k•pm•nts Peter Stracey Hou88 Eb(knn Lane Sunderland SR6 9AF Boundary Court lQngsway BishopAuckland DL14 7JE
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) CONTENTS Page Chaiman'$ Repcrft Tru8tee8' roport I[ePendent audit$ rep¢¥i 9-13 StateMt of finandal adiwkne8 14-15 Slalemenl of ffin8ncig1 p08ition 16 Statement of cash flo4¥5 17 Notes to the finanrial Itatements 18-30
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 11 is wth a great sense of WKle that I presenl my report for thg y8ar to 31 D0mber 2023- 8 year Ihat h83 seen Such 501id progress for our charity. Irme has risen, expenditure has decreased. donatn$ and grants have been made totslling over £150,000 for the year and our overall total of assets ha8 risen by over £1.5 Million in the year~ lo over £10 Million - mainly due to increases in the gthal sloGk market values and a revaluation of our investmerrt properlies. Don•tlons & Ltyacl•8 R•c•lv•d Donations & legac6 iOrne r(Ise lo £99.213 for the year compored lo £85.260 for the previous year lo 31 December 2022. Of this total £30.316 was a result of legacles left by of former freema50ns of the province and I taka this cpportunty lo thank Mrs Hunnam. Mrs Fowlar & Mrs Ayre for thinking of us vthen m8kn.ng their wll8. hether by ¢kJnation from kndges. indNidu8ls or by kgacies, I thank all those who hove contributed to Durham Freemawn8 Charity and Ytho have allwed us to continue lo supwt so many community groJps and individuals. Your support18 gratefully received arby will be failllfulty apFAied. Inv•slment In¢om• A8 a resutt of favourabl8 martet conditi'ons. Investm¢nt IrKI, bnduding dtvidends *r Interest recefved. ro from £39,204 to £53,140 in th6 y8ar to 31 Dèe4mber 2023. Property lft¢om• Rental income from Investmènt wowrti¢$ at Peter Stracey Hcxffje and Boundary Court increased from £308,544 to £356,241- mo8Jy du6 to morn proF4rlloJ being let during 2023, p8rticularfy at Boundary Court. Prop•rty continue to invest for the long tem in our properties and Several ap8rtheTrtS 8t Pet•r Stxay Pknu88 vAro TrbIshed during the perfod. In aodltion, Boundary Court had solar p8nels Installed al o totsl CA)St of £54.251. 1 take this opportunity to th8nk Stsn Hunter, Rebring Chalmian of ¢JJr Eststes Commilt¢e, after 8 years of excellent seryic• to the charfty. l also welcome back Deiek Dunn as the Liaison Officef at Pgter Stracey House and Jack Richardson In the same positicfj at Boundary Court. Folbwing a recent rewgw of our yocthlures Nest Egg Hom98 ¢onlinue to mana98 our prop8$ but. in IIM ¥thith g¢)od business prxtice, wo 7MII open a retenderlng pro¢es8 in the next 12 months. Expndfturn Expenditure fell dunng tho year wth a comtxn8d total Sp of £389,697 compared to £492,811 for the year lo 31 D8cemter 2022. Grants paK of £150,809 8h¢)wed a r8duth.on against 2022 gram 8Fend of £187,574 and we arè adlvely seeking to increa88 t•Jth the value of our grants and attract even more reupienls. EXpendJre on r8furbl8hmgnl. malnlenanee and running costs of wr properties total £70,010 in the yoar compared lo £167.569 last year, whil$l our rent and administrats'on cost. paid to Prowncial Grand Lodgg. r8mained eon8t8nl 01 £37,500.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) CHAIRMAN'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grnnts Mad• in the y••r As a Chartty we have begun to corKentr more fvlly thè drference Gwts make io the recipients. considered larger single donab'orts vthern it was felt fulty funding wijects woubj ryeatly iruease the tosltlve impa( on the MmunitIeS we serve. Examples of Ihis during the year include our d8cl8lon to recognlse the KrvJ'8 Ccxonation and to celebrate hi8 75th birthday by committing £75,000 to his charity. thè Prince's Trust. During the year £50,000 of this was provided. from our Norman Jackson fund which was used to lund this yeals Dr8gons O¢n schem8 and providé some general frJnding to the Charty. This scheme anabie's grcMJp8 of young people lo lying forward their community enhancement Ideas lo a panel ol 'Dr8gons' for apwoval and funding. These are part of o development ¢>wrne for those did¥antagod young lo d8velop thw'r ski118 thus ¢as6 th&'r path into wnployment. To further Increas8 impact of assistance. t)urham Fraemasons, lulfilled the rd8s of Dragon's and were able to further support the young people and enharKe Ihe various projects. thank 811 those I81 treém980n8 who gave up their limè to serve Iheir Ic¢al communiti.ès in thls way. The remalning £25,000 lll be pabd vthen requ081ed in 2024 to fvnd tho 68cond Ironthe of Dr4on's Dens. The leedback that has recved from the YOU p1a Invof¥¢d. Dragons and the Prlnces ThJ81 has further underllned tho valua16 Contributi wr Invthiement has had on those p8rticipatirvJ in th8 courses. wth the a85i8tsnce of th8 Noman Jackson Fund we aljo provid•d a Gr8nl of £5.1X, was matched by the Masonlc Charitsbla FouThJab'M, to the Speaal Lioness88. This S8r18nd based Charity provide8 ¥UPPOrt to sev8rely di88bled children anej their fam11. One of tl unh)ue 8SFeCts of the thanty Is Ihe provision of a Prom whith due lo Shortened lrfe expetstion8 of chiklren, must be 1 well before th&y reach the age of 16. Th9 £10,000 pound fully fvndgd this years Prom. This not only imp8¢ted on th08e that att¢nd8d but leaSed lh• Charllies 818ff from 118 furKlraising for tho event and allrMYd them to n18 fijlly cuKenlrat8 on th• provislon ol 5UPPJrt to Ihè children 8nd thdr families. furttrér hancIng thg p08itive L*'fferènce bw'ng m&Je by wr 8UFPOrt. Almoner'8 Account During 2023. we 8b50rbed th8 Almoner'8 8c£ounl wilhin our rt[1ty furKI8 aTrJ £25,050 is shown in other income within the accounts as the almoners bank accwnt balanc& irrtroduced as at 1 January 2023. These funds are expected lo grow over the loreseeabh future. as lodges ck)se and transfer both fund8 and the respor4ibilily ol looklng after thgir ldOw8, to our Pmvinciol arKI his te8m. The C£mIlmentS tho fiJnd8 are rwuired for ¢on stretch over decades.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) CHAIRMAN'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 None of the many xhievements durlng the last year have happened without the generous ttntribLrtions of our many m8mbot8, the hard work of our eommiltee members and the un8tinthng ¥upport of thg Staff al Provincial Clffica. l offer my grateful Ihar&s to every Fwson durfThJ its year. I would a180 Ilke lo thank all those who have ensur8d a regular flow of thcles to the Provincial Communication8 Team $0 thot the breadlh and d8ptt) of our 8UPPOrt can bè recognised. I would 8180 express my 8inc8re appreciation lo all th6 brethren of ts Provlnce of Outh8m. mwnbers of the Gener81 Purposes Commrttee and the 8on8vol8nt Committeè representstNes for their lime. energy, and dedicatyon during the past yoar and lor t inshts and expèrttse they each bring to thts a¢bvttb"es of the Benevolent Commitlao Durham Freemasons Charity romains in a very heathy finartial sItIOn, and. fjth pdent man8gement. we expect that to continuo. Dwng the year wè ertook a fvll 8trategk and op8rati reviv of tho Chty and wa At wr Mar¢h 2024 AGM we votad on Implementing its mary recommendations which aro ncyw beiw Implamented and those include.. 1. The changing of the namo to the Durham Freemason'8 Charfty in order lo deorfy indicate the Pur58 of the organlsalion and the 80urc8 of fvr#Jing to our benefioarios and Ihe communitr'88 we 8eryg. 2. T introduth.on of administrative pr(xaLnS to impn)ve oversight and protabon of all thoso inbol¥d In the running of the Charity. 3. The inilwtion of a rwew of our legal strudure to ensure we r6glstw8d and Lssing a stslu8 that maximi8e8 our impoct in the wdar community wbilsl prOtting th8 Organisation. hs Trustee's and members. 4. Tho intrOdtIon of mc6 lomlalised prcudurès for monitoring of our sheltered housiro management. 5. Introducing a system of grant applKation •imed at understarKling the outcome WKI mM6torirvJ th• Irdet ol th8 grants we make. 6. Introduclng a more StMIlned GrantAppli¢ation Process to increase the effeetiv8ne85 of these grants. 7. The recommendatiejn that Lodges use Iheir Ajmoner or Charlty Steward rother than a Separate elected representalive to att8nd the quartety meets"ng8. These meetln9s wll then te used as,. Opporiunrties to further enhance the skills of the hDh1ws of these roles b. F¢yum's to Show case Ihe rt¢0M88 of our Grants lo Ihg wder Masonic Communlty. c. Provide an opportunity fry representatives of the wder communtty to meet Freemason'8 and assist them to t4tter undeistand aryl apprLriat8 our organL8th"on and its conlrlbutlon to I fulty èxpecl. In the next Chairman's rewxt. to be oudining the many posttlve chang89 havg *èn In the work ywr Chamty from the implementation ofthe revitr• rec(xrThndstioM. lrnian Dal•'. °1,.12024,
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees wesant lhr ann repct and finan statements for the year end 31 DKgmber 2023. The Charity is registefed ¥th the Charity CNnmisslcb (Registralion number". 27931314ts Durtwm Freem880n8 Chanty Ifornerfy The DurtM Masonic Bene¥c4ent FurKI). The flnanclal 8tatemerrts ha b8en pryared in acC(ffd the acccurting Fdicies set ¢)Ut In note 1 to the fin8ncial stslements 8TrJ ComY h¥lth charity's trust deed, the Charities Act 2011 and "Accounting and Reporb'ng by Ch8rtties: Statement of Recommgnd•J Pracb"ce appliCae lo tharibes preparing ththr accounts In xcordance with the Financial R8ports"ng Stsndard applIcae in UK and R6put4ic of Ireland {FRS 1021" {effectwe 1 January 20191. ObJ•¢tlvM and actMtIo• The Bet)ey is a m88oni¢ organlsat)n sot up by trust dggd dated 24 July 1956. Tho oblect of Durham Freema8ons Charfty 18 to pmide support for tho needy brethron of m850nic lodgos in the Provlnce of Durham and thdr dependants. and to provido ¢tildren of txthren wth 888iStan¢e to furth•r thdr education. In ord•f to further the8e obJeth'v88, the actswts'es oltrrt ¢hadty cal8wl88d a8 fdlws.. Provi81on of 8h¢ttor@d ac¢omm(¥J•tk) 10 aged brottwen their dèpend8nts, Awarding wanl$ to ne8dy trKethren. thebr dependants 8nd wldows, Awarding gronts lo th6 children ol bmthren, to asst their engag8ment in communty rKoiects, Awardlng Community Support Grants, arKI Provl8lon of Miday or conval88cent br•s Icf W brethren aTrJ depTrJanls Publlc 8en•flt Stat•m•nts The trusleas have had regard to the Charty Commio8th'$ gukJwKp m their logal duty on public benefit, and are $9ts'8fied that the Charity dellvvn public benefft. and due regard 1$ paij to th? guldance on wbllc benefft when ¢iding on vthal new propcls Ihg charity lhould undertak•. Grant Maklng Pollcy The truste88 me•t on a rogular bo81s to consklw Itw will make.. Masmic cr Communlty Support grants. Emergency grants mode to benefici8riM at t discretion of the managemwrt aThJ approved rètrospectivoty and anonyynously at Irustges, meetings. Educatlcn and 8chol•rshlp grants we pad to finance further ¢t)n ard wo approved by 8 8ufKommittee Set up for this purpoee. Volunl•er¥ •nd other contrlbutorn General Purpose8 Csynmrttse wid 68pedally lkn to thank the lolknng'. Benevolent representatives their attendance at quartety maetings and Ih•ir considerable dforts lo ènsurg Ihat the rbeed8 of brethren and their deperKJ•ts are identified and acted upon.. The officers of the ganeral wrw)80 Committee, the Chaim)an J.D. IAbtts vtho conducl8d meets'ng8 with skill and gfficiency, the VKe Chairman D Maw, Treasurer S. A. Imllis. the Secretory T. Gittins all of whom mad8 invaluable contrlbulions lo Ihe managemerrt arKI ¥JminislriM of the Benevolent Committèe and all staff at the Provinryab Office for their wlling and cheerful assist in Ihe work of the BeneVOnI Commtitee. Thank8 are a180 extended to all those members of the wrp08e ccrfnmittee old and for their vory valuable contributions to the wcrfk of Durham Benevc4ence.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achl8vements and perfomynce The m8in actNity th riod has b8en lh& admiiii<rnlJn of thg Iwo sheltgrnd a0mm&alion housing developm8nts known as Peter Stracey House and Boundary crt. Th8 extensive r&novatn pffjgr8mme ol 8P8rtments al Pèter Slrncgy H(ws8 conlinu8s 8nd co&5 kept With budgel. Out of a tol81 of n88rfy 1tX• epartm8nts across bolh 08velopmonts. very f8w Trmained Unoccup al thg riod &nd. During Ihe year solai panels were fittgd lo lh8 of 8oundary Court and it &xp8LYed Ihol th WKI benefrt lh8 18nanls, the ol reduced 8leclriclty bills, forthe Iorns8e8ble futurn. Communty support grnnts 8re our maln olgrnnt gwlng to club4 czrfnmunlty projects and youlh lrnvel grants otc. as well 88 &mergency gisnts lo brnthren in dlstr&ss. educatir grnnts and grnnts to olher M8soni¢ ¢h8rfti&s. The economlc dlmate over the last year h98 resulled in 4 ¥the1Cle inc¥aa In the valuation of our inve8tments- tx)th buiklings and Stock market inv88tmerts. and we continue to invest in both for the long terni. At the Ilme of writlng, stock morket Investments are slabk in value lyJl can slill be 8ubj.ed to ffluctuations caused by uncertain tradlng ¢oThJthon8 Te6ultiry from glcl)al tsdoTS. Fln•ncl•l rovl•w Total income for the yaar was £533,644. Thè exp8ndthJre Inrred lotslled £389.897 and there were gain8 011 in¥e8tmont 888ets totslling £1,588.758 mewing chwity g¢n8rated a surplus during the year of£1,752.705. RMerV pollcy The notes lo the finandal statements show the ats and 14abilltle¥ attributable lo fv various fvndl by type and 8180 8howB the various trusts of ts ehanty aTrJ Summari period's movemant8 on 98th fund. Th• GeMr•l Purpo88s Commltte• hai examirnd th& raqreMent for free re8eryes, which Ora th08e unrestricted funds not invested In fixad assets, designalod fof swfic purposes or otheN4ls9 wmmrtt8d and con8lder that th18 Should bo at a ¥01 to gNe Sufficient y•1rj caFital to cover Costs for th8 n8Xt yèar. Unrestricted free res¢Nes at 31 December 2023 omounled to £1.062,718. Tho trustee¥ belleve th¢ level of ftee reseNe3 held to be more than ad¢quale to cover lh8 requirerrthts prg8erib8d in the rgsgrvos pollcy. In¥tment Pollcy The Genefal Purposes Commffte• have the lo w)ve8t in sh 6t(Kks, shares, propwty and other a88ets as Ihey fft. Qu8rterfy r8Wts are submltted by their stockbrokor¥. logethgr wilh recommendatKns managlng the portfolw) in tha forthcoming quarter. The pcAicy is to adopt a modium risk strategy ba88d on maximi8ing the ralums on the inve8tmants vthilst obtaining reasonatye gr(hvth in the m•rket Val ol the porlfollo. &nc8 Mah 2024, an Inveslnwl comrrith• has monltorgd the deci3hS t8ken by th& brokers. wlth a yW to advising the generalpuw Commit on inve&mnt iisk and furtherlnvestfflents whern appropriate. Rlsk ass•ssm•nt The G8ner81 Purposes Committee assessed m4or ri%ks to vthith tm charity 18 8XFosed, in wticular Ih08e related to the operatic$ and flnances of the Trust. and i¥ sab"8figd th•t Systems are in rAace to mitsgate any exposure lo major ri8ks.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2023 Plans for fulure perfods The programme for the imm&Jiate futwe is to ¢onbnL to enc(yJrage d(Ywtiws to enab our adivities to be maintained at least al Ihdr cwrent levels. In the medium tarm the plan is for consolidation of the furKI so that investments ¢an be maintained and at the same time make fvjther provision for incease in resery8$ to mael tyjr existing commitments, estsblishing a solid income base from investment$, rént81 inccffle and donalKTh. Tr Commtttee is also exploring i¢Jeas for new forms ol charltable glvlng. In thè long-tern further expenditure will bo inctjrred 80 85 to moke Sure our 8holtwod aceommodatDn projects 8ra well maintained and Improved w¢ d¢emed necessary. A8 part of 8 planned ffrstructuring aSsoCed wth the risk managemerrt for indmdual trustees. It is expe¢tgd that In thé near frjture, the sole trustee for the charty wll be Durham Be¥0181e Limited, wth all mombers of th8 GeneTal Purp088 Committee acting as appointed direct¢Jrs of the company. At the kn.me of wribng, th6 rtrstrueturirvJ pl8ns have been submitted for c{u80n wlh ts memrG of Provin¢i•l Grand Lodge of Durham. for their comments. obiectkjns Ilf any), arKI Ihopefullyl agreemonl. It should also be noted that in futura, to speed made to aOic8nts. the CcvnmLnity SuA>)rt Grant Commrttèa VAII b8 empowered lo make deS$ cffl grant appllcath)ns and o1$0 make paymgnl of grants wthoLrt prbor approval of th8 General Purp08es Commrtteg. Tho Goneral Purpose Committee tMII still provldè an overview of policy and Impact ol ts grant moking. 8tru¢ture govern•nc• Ind manag•m•nt DuThaTri Fretm8sons Charity consists of t Prinopal Officern of Ihè Provlnce of Duth8m, together V•itrt 8lx nominees of pro191 Grand M88ter appoonted annu8lly and a repr•8enlalNO of éach Lo&]e known as the Benevolonl Repre8entslfv8 appoirted annually wlthin trir IL¥Jge. The trustees vtho 8ep4ed during the year and up to ts date of 8lgn8turg ofthe financlal 8tst8ments wwe.. J. D. {Chaimianl S. A. Wllis (Treasurer) T. F. Gittins (Secretary) M. S. Shaw Dutham Benevolence Limll¢d D. Maw (Vice Chaimianl (Rgr 11 M¥¢h 20231 IAppointe(111 Mwch 2023) The directoryJ of the cLvptye trustag, IrtM Benevolence knmiied. arn ts same as otPw tru81ee6 of the charity. The trx)ard of the trustees, kno4¥n as the Gweral Purposes Committee, vmo are Teqirired lo mel * 1ga¥t quarterfy. bul aclually meets MO frequently as the administrative requirements of the charity didate, run the Charity. There is subcomme8 lor awarding educattonal aTrJ sthc4arshlp grants. a subcommittae for managing Iha 8heftered hwsiro eslalas and a further $ubcommiitee, VfiKh recommrKls Community Support grants lo thè BenevonI Committee approval.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Relatlon$hlp wfth Wlder Notsrk The Benevolent Commrttee works cloty wth a number ofolher kal Chwltie6 and the mascC Charitable other lo¢al ¢haiitie$: . Provlrtlal Grand Benevont Fund - avaiLqL4e to aulst necessit(5 Mark Masons and thoir dependanls. Ma50niG Charilat Foundation IMCF) charitable acti¥lll8s Include.. Provislon of care for the children of dèce88ed or distrossed Brethren the aim of provlding. 08 f8r as P088it4e. the 88m8 opportuniti'es in lrfe as would have been availatle had deoth or misfortun8 not occurred. The Provinc£ has glrts 8fKI undor the care of ts Imt. . The mainten•n¢e of a number ol Tidenti"al hcynes tr 8rdfKen and their dependants. Provldlng 8UPPOrt for needy. Skk snd Inflm) Froema4on8. thelr Ptners, children and depondants. Rellef may only be granlad lo 1ts)8e wli¢anli WI are unabk to obtain medlcal tr••tment or 8UPFrt on the NHS whhoul undue delay or hardghip. Provlding $upport for Ma8rt F•trb'on•rn In dlstr•88ed clms1ne8$. other M•8MK charftles and rK+n- Masonlc thor.8$. 3tst•m•nt of tru•tM•' M•pon8lbllltl The Iruslees are rg¥ponsible for preparing the Tno1èè8' Re •1 the flnancwl statements In accordanca wllh applicable law and Unrted Klngdom ACCntiftg Stards (Unrted langd( Gomraily Accepted Ac¢ounll Practic81. Th6 law aFplic8ble to ch8rllles fft England WKI V¥tsl88 requiT•8 trustee8 to prepare fina81 ststements for each financial year whith give a tru8 and fair wew of Ihe state of affairs of the charity ond of Ihe incomlng resour¢e8 aryj applicatlon of re8our¢e8 of tho chty kn th•t yew. In preparina Iho86 flnanclal 8temert8. the trustees we Tequired lo.. - select suitsble aecjnt pohue8 afKI Ih8n apply ¢¢818n11y'. - ob8em the mothods and wlnciples in ts Charllle8 SORP., - make judgemsnl8 and e8timate8 tIt are rea8cThtAe arKI pnyjgnt.. . state whether apF41calle ac¢c¥Jnting 6tsndard8 have b¢¢n folkyHed, subJ'&t lo any matertal departuw dlsclosad and explained in the financlal statements.. and - prepare thg financi s1glement8 on the goirwj cOarn bas unl8$5 il 1$ inappropriato lo presuTr£ that chanty 11 cc)linue in operation. Th8 tru8tees are responsible for ke8wng sufficient aceountlng records that di8close with reasonable accuracy at any me the finantyal Pion of the charrty and enable them lo er that the financial Statements comply vlth the Charitigs Act 2011, Ihe Charity {A)Unts and Repts) Regulatic5 2008 arKI the provisons of the trust deed. They are also sponSible for safeguarth.ng assets of the 8rKI her for tsking rea8onalJé steps for Ihe preventKJn and detection of fraud and otsr wregularities. Dlsclosurg of Information to audlior Eacl) of the trustees has confimd lh th2 no infornation of which they are aware lch 18 revant to the audit. but of %thich the audrtor is unaware. They have further ccrfrmed th they have taken appropriate step8 to identify such rdevatt infcffmthcfi WKI to est>lish Itt the audrtor is awar8 of SLK inlrymation.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The truste8s' rwrt wa8 apwoved by the Board ofTru8tees. S. A. WIIi8 (Treasurer) Tru8t•• T. F. Grtb'ns Iseuetaryl Th15ts0 Date.. 2[3/ 24
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) OpSnlon We hove audited financial statements of Dutham Fra8m8sons Charty {frnrfy The Durham M88OnlC Benevolent Fund) (the 'chaiity'l fci the year ended 31 December 2023 which compri8e the stalemanl of finanual actlbe8, the Statement of financlal wsibon, the statement of cash flows and notes to th8 financial statements, Including signthcanl acn policw. Tho finartid repIng frarneth that has been apled in their preparation is appllcablg law and United ngdorn Accounung Standards, induding Financial ReFortiThJ Stsndard 102 The Financial Reportlng Standard appIa in the UK and RepublK of lrnland {Unrted Kingdom Gener81fy Accepted Accountirvj Practthl. In our opknion, the financial statements.. glve a true arKI fair view of the stale of tt ¢haritl8 affalr8 a8 at 31 De¢•mb8r 2023 of It8 Incoming r880urc88 arKI application of resc4Jrce8, fry ts year then ended.. have bean prwty prepared in accordorLe United Kir¥Jdom Generalty Accounllng PractlL', and have bean prepa3 in acc{ye0 wilh requirem•nt8 of thé Charib'eJAct 2011. Bi811 lor oplnlon coTrJucted cJr auil in acc¢Yd8ncé vhth Intemational Stsnd¥d8 on Aaiting (UK) IISA8 IUKII and applicabl• law. Our rasponsits'lilies under those 8tand8rds are further de¥tril)ed In the Audttorfs responsibilrfi8s for the audlt ol the finèncl81 statements section of our rewt. are iTrJependonl of th8 charity In ac¢ord•nce wth the ethical requirements thal are relevant lo our audll of thg financial statèments in the UK, including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical re8wnsltx"lities in 8cccrfdan(yJ Ihèsè raquirements. We beligve that the audit evidence we hav8 obtairnd is SLffiryent and apwcynate to FrfOVKle a ba8is for our oplnion. Conclu$lon8 rnlatlng to golng cofic•m In audiling th8 finarKial statements, we have that the trustees, of the golng concem bos18 of accounling in the prepar8tlon of tr• financi81 ststements 1$ approprfjate. Based on thé work we ha Ted, we have )1 Klentsfied ary malerf81 uncertaintie$ relatirKJ to gvgnls or ccdItns that, irKllvidualty or cdlectsvdy. may ¢051 %gnifi¢•nt thjubt the charlty's ability to continue as a golng COnM lor a perie•J of al least tsyelve months from wthen the finawal statement8 are aulh0ri88d for issue. Our re5pon81bllitie8 Iho rosnSIbilitI6S of tho truBte88 ith rn8pect to going concem are des•bed in the relevant 8ecthon8 of this reFOrt. Oth•r Inf0MtIOn Thé other infom)ation compri88s the infomiotion included in the annu81 reFQrt oU)er than tho finarrial statement8 and our auditorfs report thgrecfi. The trustees are resF4)nsible for the other infomiab'on ccrfltained w7lhin the annual report. Our opinion on the financbal statements do¢$ not cover the othgr Information and we do not exprèss any fom ol a88urance condu¥ion Ihereon. Our ro$FnsIti11fy is io read tho other infonation an¢J, in doing so, consider whether the othBr infomation is materially inconsi5terbt wilh the finanad stslements or our knoedge obt8lned In the course of the audiL or othewse appears lo be materially misstated. 11 we tdenofy such materol ineonsistencios or apparent material misststement¥. we are requlred to determine whethef this gNes rlso to a matèrol misstatement in the finanei81 statenIS themselves. If. based on tha work we have F*rfomied, Cubdude that thoro 1$ maleri•l mi86taterMnt of this other infcm)abon, requ to report thal facL have nothing to rewrt In this regard.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) M•ttèrn oh Tthich w• •rn r•quir•d to rowbrt ty exc•ptkn have nothing to report in reSpt of the ftlchwing matters in relth'on lo wthich the Charitie$ (Accounts an(1 R6portsl Regulations 2008 require us lo report to y(w if, in our 0p'nn.. the informalion glven In the finarrial statements 18 inconsistent in any Material respect w6th the tru8le6s' report., or ¥ufficierrt accounting records have 1 been kopt or the financial 8tatements are not in agreement ¥h the accaunllng re¢d8'. we have not rtteNed all the infomwbon and explanatKTh we requrn for our audit. RMpon¥lblllll• of tru8t• As explained more lulty in the $lalemant ol trustees. resp)nsibilities, ts tru8t8es ar8 reswnsible for the praparatlon of the financial slalements arKI for being sattsfled that trey give 8 true and fair v6ew, and for such intem81 control 88 the tru8t88s determine is necessary lo enable the preparation of fina431 SmentS that ar8 fre8 from malerlal ml8sl8lemenl, ether due lo fraud or error. In weparing the financ1 ststements, trustees are responsible for aSS6S8ing the charlty's obllty to conts.nuo a8 8 9crfng concem, dI1031n9, as applicable, matters related lo golng on¢ern arKI using the going concem of enting unks8 tho tru8te88 arther Interd lo cea80 Lyr8lon8. or havè no rn81i8tic altem8tNe but to do 80. Audltorf• r•spoMlbllltl6• for tho audtt ol th• flnan¢l•l •tatsm•nts We have been appointed as auditcrf under 144 of the Charities Act 2011 and reprrtl In ac0)rdan with tho Act and relevant regulatlons made or hawng eff&t Ihereund8r. Our objectfves ar• to obtaln reasonab assurae ther the Ilnonclal statemwrts as a Who are free from malenal misstatement. whetMr to fraud (Y errry. arKI lo o$ue an aLYrtof8 rewt that Includes our opinion, Reasonable 458urance a high level of a88ur8nce is not a guarantee that an 0Jit TryuctOd in accordanc• wlth ISAS IUK) wlll aayS delect a material misstatemont ¥hn It exists. Misslalements can arise from fraud or error and are consld8red material rf. individlwlty or in the aggregat6, they coukl reasonably b• oxpe¢ted to Inlluence th8 economiG d¢¢isions of uBar8 taken on the baws of these financ4al slalemenls. Irregularrtles, IndJIng fraud, ara in8tsnce8 of norCc1npl9ncQ with laws and regulations. deslgn proc8dures in Ilne th our respon¥ibilJb"es. oudined atove. lo detect mat8rial misstatements in respect ol irregularitiè$, induding fraud. Tha extent lo 1th our prc*edures or• copatl¢ of dètecllng irregularilies. incIsing fraud is detailed below.. 10-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) Our approach to idontifying and a8ses8ifVJ the skY ol matwial misststement in respe of irregularllies, iluding fraud a)d notFcomplian¢e with laws arKI regulats'ons. was as follows. the engagement partner 8n8ured that the engagement team colleth.vely had Ihe appropriate compe18n, capabilities and skill$ to or recognise rA)n-compliance with applicable and ragu18tions,' we identified the laws and regulatic9 aWicable lo t charity thrJh discussons wlh trustees and other mareMent. and from tsjr commeroal knovAedge and exporience ofthe sector,. we locused on spocifir M¥s and regulations vtiich ccrflsidèred may h8ve a direct material effect on the financial stalennIg or the operatn$ of the charity, indudir¥J the Chwiti'es AGt 2011. taxation legislation. data pr0teth'. anti-brib6ry, environmertd and health end safety leglslatlon,. • wé a35essed the extent of cc4mpli8rKe wlh the laws and regulat6 idgntifi•J above through making enquiries of management and Inspects'ng legal SXJrrespCdnce', and • ident1fd kqws and regulations werg communicated vh1n thè aLKlrt team rOg0Y and thg te4m remalned akrt to instances of rn-COMpli8n¢e throughout the audrt. We assess8d thè su8cepts'bility of the charit$ fin8rKJ81 statements to materfal misstatement, iKludhg obleining underslandlng of h¢)w fraud might OCAK. by. • making erK4uines of management as to where they c4)n8idernd therè wa8 susceptlblllty to fraud, tholr knovAedge of actual, suspected and alleged fraud., aTrJ onsiderlng the intemal conlr(As In place to mibgate dsks of fraud ¥nd non-ccffiplorKe th laws 8nd Tegulatlon8. To address the risk of fraud through management bk88 and override of crthl8, we.. perfomed analytical procedures lo identrfy any unusual (Y unexpeclgj rdation6hips', lesled Joumal enlries to idenlTty unusual tronsac1is', 88s¢8$ed whether judgèments army a3mP.S made in d•tormklng the gmntlng estimates were indicive of potentsal .•8,. and . investigoled the r8Uonale behknd any Identffied svJnifnt N unu1 tran8action8. 11
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DURHAM FREEMASONS CHARITY (FORMERLYTHE DURHAM MASONIC BENEVOLENT FUND) In T8spon8e to the risk of irregularibes oThJ norpc4Jmpliance Iwws and wuLgkn'on8. we degned procedures vthich inclutJe(I, bul wer8 not limrted to." agreeing financ1 statement dlsdo8ur to underfying supyth'ng d(mentall.. enquiring of management as to 8CtU81 and potential litigation and ¢'M¥.. and • r8viewng correspwden¢e ¥&ith HMRC. relevant wulatoTs and the tharity's1o9•l athisors. Thore are Inherant limitation8 in our authl pr¢xedures described atove. The mor6 removèj that law8 and regulalws are from finandal tran5ath"ons, the less likely it is that would borne aware of notFcompliance. Auditing 5tandartJ6 alw limit the audlt pfoc&Jures required lo identsfy n(Trmpliance wfth laws and regulations to enquiry of the trustees and other management and the inspeclion of regulatory and legal cwéspondence, if any. M8lerlal misststements that ari88 due to fraud ean t harder lo detect ihan th)se that 8ri8e frryn error 4$ they rnay invo6 dellberate concoalment or collu5w)n. As part of an audrt in accordance wilh ISP4 {UKI. 7A axerc488 rKofe86irThl juth3mgnt and maintsin profe$8lon81 scapticism IhroughLXrt the audit. We also.. Identify and assess the risks of malori81 mi¥tatsmént of tho ffflarKial Slatoments, whether dl to fraud or error, d88ign and perfom 8udrt prc¢edures re8pon8Ne lo those nsks, and obtain audit evidence th8t18 sufficlenl and appropriate lo FVide a basi8 our opinion. The rfsk of not dat8dThJ a m8t8ri41 mis8tatemenl resulting trom fraud 18 hher than for results'ng from ernx, a8 fraud may Involv8 cdluslon, forgery. intentional omissions, mi$rgpr8S8ntalions, or the override of intemal control. Obtain an underslonding of inl6mal eontrol relevant to the audr( in order to dejign audit Prld that are approprle in Ihe Gir¢umst•nc•¥. tyjl not for the pU08e of expre88lng an 0.n1 on the effe¢tivero88 01 the Internal conlryl. Evaluate th8 apprcgriaten8$9 of 8(Kwnting polic uwj ar the reason8en85$ of acrounling gJts'm•te8 and relalad disclosur85 made by thè trusl885. Condudts on the approprfal8n88s of the trustees. use of the goThJ conrn bals of •¢¢ounOng and, b888d on the 8udrt wdeneé obtainèd. whethef a m818rtal urKertainty exists rebted lo o¥ents or ¢ondilion8 that may cast gnnI dou on the charitys ablllty lo continue as a grrtj corKern. ff we eoncluda that a m8lerial uncertointy exists. we arn required to draw attenUc4) In our 0jItor'S pOrt lo lh¢ rdala di8clo¥ures in the finanagl ¥talements or, if such disclosure8 are inadequate. to modfy our Onion. Our conclusions are b8sed on thè audit ev6n¢e obtsined up lo the dgte of our auditor'$ roport. H¢)wavor, future gvènts or ¢>)ndith)n$ may cause the dnty to cea8e to continue as o gn9 conc8m. Evaluat6 the ovér811 pr8senlalbJn, slructure and content of Ihe fin8nci81 5tstemonts. includlng the di¥dosures. and whether the flnandal statements reyesenl Ihe undety'ng transgctionB and events in manner that 8th1¢$ tsir presentsth)n. communicate with those chargefj with govem8rKe regarding, among other matters, the planned scop8 and timing of the audit and signrftcant audit findirys, including any 9ncan1 deficienc$ in intemal control that v Identlfy durfng aud. A fvrther deKription of our respowts'litw is available on tr Flnandal RewlThJ Councll's %wb8'rte at: https'.11 W¥W4.frc.org.uklau¢torsrg¥powbileS. Thi5 description fcrfms part of ow authtoV$ report. 12-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DURHAM FREEMASONS CHARITY (FORMERLYTHE DURHAM MASONIC BENEVOLENT FUND) U80 of our r•port Thi$ report is made sobely lo the charlS trustees. 88 a bwy. in accordanca V•ilh part 4 of thg Charities (Accounts and Reports) Regulallon8 2008. Our audrt work has been undertaken so that we might $tal8 to the charity's trustees those matters we are requlrgd lo sfate lo in an auditorfs rewt and fN no othor Purpose. To the fullest extent perrnitted by 18w, y do not accapt assume resp)n%bility lo anyone other than the chaty and the tharity'8 trLtstees as a boo, for our audrt work. for this rep3rt. or for the wn15 V•E have fomied. kf F. John P Yarrow FCA {S•nlor Statutory Audltor) for and on bohalf ofAlhn Syk• Llmlt•d 2J//?/2 hart•r•d Accountsnts 8tstutory Audltor 5 Hensw Clorye South Church Enterprise Park shopAu¢kland Co Durham DL14 13-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Curyent Ilnancl•l year Unre•trlctod RMtrict¢d Endowment funds funds fvnd# 2023 2023 2023 Totsl T¢Aal 2023 2022 Noto8 Donations and legaci8S Charitstle actiwliès Invastm8nls Other income 70.204 29.009 99.213 85.280 11.755 347,748 409.381 25.050 409,381 2S,0S0 Totsl Incom 504.835 29,009 533,644 445,019 Raiwng fuN18 63.274 63.274 178.492 Ch8rft8ble actlvltt 199.579 5.450 205,029 278,591 BOurKI crt1P81•r Strac•y H(se Repair Funds Oth¢r 58,074 16.318 58,074 23,320 33,147 2,581 14 Total •xpndltur• 289,855 79,842 389,697 492.811 Nel g8in611108888} on investments 16 1.588,758 1,588,758 191,903) Net mov•m•nt In fund• 1.803,538 (50.8331 1.752,705 1139.6951 Fund balancas •t 1 January 2023 8,973.364 183,808 16.980 9.174.152 9,313,847 Fund balanc•• •t 31 Doc•fflb•i 2023 10.776,902 132.975 16,980 10,926.857 ,174.152 The statement ol flnwKi81 xli¥rfie8 Incl8 811 gain6 arKf k)sses r¢ct)3ni8•d in th• year. JI incom• and eypenditure derfve from contimlng actsNitsos. 14-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Prlor flnanGial y••r Unrestrlctod R•strkt•d Endowm•nt funds funds funds 2022 2022 2022 Totsl 2022 Donations and legacies Charrtable actiwti88 Investrnenls Othèr income 56,822 11.755 347.748 256 28,438 85.260 11,755 347,748 256 Totsl Incom• 416,581 28.438 445.019 Rai8ing fund8 178.492 178,492 Ch8rltai40 acllviti98 275.591 3.000 278,591 Boundary CourVPts Strxey HcANe Repatr Fund8 Other 33.147 33,147 2,581 14 2.581 Totsl •XpondI1• 456,e64 36,147 492,811 Nel g8ln81llosses) on investments 1S (91,903) 191,903) Net mov•m•nt In fundi {131,986) (7.7091 (139.8951 FurKI balances at 1 January 2022 ,105,350 191,517 16,980 9,313,847 Fund balan¢M at 31 D•c•mb•r 2022 8,973.364 183,808 16.980 9.174.152 15-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) STATEMENT OF FINANCIAL POSITION ASAT31 DECEMBER 2023 2023 2022 Flxed assets Investm1 propertie8 Inve$tmonts 16 17 8.128.004 1,588.182 6,541.366 1,224.030 .714,186 7,785,396 Currnnt ass•ts Debtor5 Cash at bank In harbj 18 186.125 1,059,260 101,594 1,330.828 1.22S.385 1.432.422 Crodltorn: amounts f4111ng du• *lthln on• yoar 19 112,7141 123,6661 Nel rwrrenl assets 1.212,671 1,408,758 Total a•••ts l•$$ ¢urr•nt Il•bllltl•• 10,926,857 9,174,152 Caprtal fund• ErKlowmenl funds- gerTal Income fund8 Reslricled fvnd8 16.980 16,980 21 132,975 183,808 D6signal8d lund8 10.778.W2 8.973.364 10,776,902 8,973,384 10,926,857 9,174,152 Thè financial ststemerts wete apwDved by the Trustees Cm .. ..... S. A. Wllis (Treasurer) T. F. Gittins {Secr8tsry1 Tnotee 16-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEM8ER 2023 2023 2022 Cash fl¢)ws from op8ratlng actlvltl•• Cash absorbed by OperatsS 26 (320.9171 (425.7551 Invesllng actlvltl•s Purchase of investmont propthty Purcha8e ol other investments PreedS from dispo881 ol other investrnents Inv8Stment income receNed 154.2511 <821,0941 315.313 409,381 1162,400) 1288,5631 39,799 347.748 N•t cash g•norat•d froTrV(u8•d In InvHtlng actlvltlos 49.349 181.4181 N•t u••d In fln•nclng •¢ll¥ltl N•t d•crna•• In ca•h and ca•h •qulval•nts 1271.5881 1487,171} C88h arhy ¢98h •qvalents at baglnning of year 1,330,828 1,817.999 Cash and c••h •qulvil•nts at •nd of y•ar 1.059,280 1.330,828 17-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng polkle¥ Charlty Infomutlon Durham Freemason8 Charity (fomierty The rharn mason Bernvoknt FUW Is 8 chadty registered in ErrfJland and les. 1.1 A¢¢ountlng corwentlon The financbal statements have boen yepared in accordance with the tharty$ tntst deed. ihe Charlty"e8 Act 2011. FRS 102 'The Fin8ncial Rewrtj'ng Stsrbjard applicable in the UK and Republic of lieland" ('FRS 102.1 and the Charille8 SORP 'Accounling and Reporting by Charilies.. St•tem¢nt of Recommended Practico aOicable lo Charit preparing their accounts in acCordara with the Financial Reporting Standard aFpii¢able in Ihe UK Rewblic of IielaTrJ IFRS 1021" {efftI¥o 1 January 20191. The charity is a Public B¢nefit Enlty as dned by FRS 102. The finan(yal 818tements are prepared in stertlro. ththlc 18 fimctlonal currency of the Gh8rity. Monelary amounts In the8e financial stotements are rounded to the nearest £. Tho financ4al 8tst•menl8 have been prepare(l und8r lh8 historkxl cost convention. modffied to Includ• Inve8lment ryoperb'es and certain finaw81 instruments at falr valuo. Tho p1pAI accounting polues adopl&J ar• 581 below. 1.2 Golng Gon¢ern At the bm8 of approving the fin8nu818tatemts. the trusteos have a r8ason8ble eXFctslbn that Iho charty has ad¢qual8 resourcos to continue in operational existence for th8 forestsable fuiure. Thu8 the trLtstee8 tinu8 to 8doFI tre wng cA)rK ba818 of accounting Ai prtyadng the flnandal Statements. 1.3 ChrItab fund• Urftslnctad fund8 arn available for w at tho dlscrokn of the trustees in fvrthersr of thelr charlt8ble objecte5. R08tricied fund8 are subject lo specific ConditiS by don$ as to how they may b? used. The purposes aTrJ uses of the r8slricted funds are set in ths notes to the financio181alemer. Endowment fvnds 8r• subjed to ¥Jecific conthtw)ns by don¢)rs that the la1 mu8t be maSntslngd by I charlty. 1.4 Incom• Income is recoonised when Is Iggalty entÉUod to it after any performance ¢ondNlons tw8 beon m¢1, tho amounts ¢8n be measured relialAy, and it is yctsbie tt inc¢me VAII be recwved. Ca8h donations ave v•cowi5od on rpt. Other dorlI0n$ are recognis•il Ihe eharty has been notlfied of the donation, unless performance eonditSon3 require deferrel of the amount. Income lax recoverable In relation to donations rgwved urthr Gift Aid or d8ts of covenant is rwnised at the time of the donation. Legacies arg recognised on receipi or otherwise rf the dwrity ha5 been notified of an impending di8tribution, the amount is kno*n, arKI rewt is expected. If ts arn(xt is not kn¢)wn. the gacY 18 treated as a contingent asseL 18-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEPAENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollclo8 Icontlnuedl 1.5 Expendlturn Expenditure 18 recognised onc tPer• a al or construthe obligatitfi to transfer eCexMic ben8fft 10 third party, il 18 probable that a transfer of econom benefft5 will be requbred in 8ettlem8nl, aThJ ts amount of the oblualon can be measured teliaty. ExpeThJilure is classifi1 by activty. Th8 costs of each actvity are up of the total ol di1 cost3 and 8hared costs, irKluding support costs involved in undertakirYJ each ecb'vty. Direct costs attributat48 to a single activity are all¢x8led directly lo th actiwty. Shar&a c08ts contn'bule to more than one acbvity and 8UPPOrt C08ts vthich are not attrilyjtatlo to 8 single actNIty are apportiCrf1 b8knn those aCtiwtS on a bayis ce81St8nt with the Use of resources. Centr81 staff costs aro alk£aled on the basis of timg spent. and deyedatlon charges are alloc*ed w th• w1ion of the asset's U80. 1.6 In¥Mtm•nt propertlo• Investment property, whith 18 propwty held to eom rontals andlor for capltal appreciation, is initially rQgniSed at cost, ¥thh the purchase coyt and any diredjy attn'bulat40 8xp6ndKure. Subsoquenlty il is m88sur8d at fair value at the reporb'ng end date. The 8urrlu8 or defiril on revaluallon 18 rwnisod In pront or1088. 1.7 Flxod w•t Invo•tmont• Flxed asset investm8nl8 Ore inittally measured at transaction wic6 6xdudlr+g transaction costs, and are subsequently m888ured at fair valua at aach reForting date. Changes in fair value are recognised in nel Incomel{8xpendhurel for the y••r. Transactlon costs are exp•n8ed as Iuffed. 1.8 Cash and c••h •qulv4l•nts Cash and ¢a$h aquivalents include cash in hand. deposiis hdd at call th banks. ¢)ther sh¢)rt-tgrm Ilquid inve8tments with tiriglnal maturibes of thrée mMths or $$. and bank ov•rdraft8. Bank overdrafts are shown withi'n broVI1n$ in current llatd.lits. 1.9 Flnancl•l Instrvm8nts The charity has elected lo apFly the proVOn8 of 11 '8a8lc Fin181 Instruments. aTrJ S¢¢tion 12 'Olhw Fin¥ndal In8truments188uo5' of FRS 102 to al of its finarrial Instrumgnts. Flnancial Instruments we recognisèd in th8 chari¥ bal•nce sheet th the charity becom88 paty to the contradual provlsions of Ihe inslrumwrt. 88slc fln•nclal•ss•ts Basic financial as58t5, wtrich indude debtOf5 arwj cash and b8nk b818n¢e8, are Initlalty measured at transaction price indudlng transacb'on costs aThJ are 8ubwuenlfy carried at amorb.sed cost usirt9 the effeth've Interest method unless Ih8 arr8ngement consts"tut8s a finanang transaCtrI. where the transactlon Is me88ured at the present value of the fijture rKwpts discounted at a market rate of Intet. Finartbal assets ciasslfi8d as receivable vithin one year are not amcrtised. 8asi¢ Ilnancial liabllftles 8aslc financbal liatilibes, including creditors and bank loans are initially iecc•3nl8ed al trans8ctkJn price unless the arrarbgement consknlLrtes a financing transaclth, the debt instrument is measured at th8 pfEsenl Vglue ol the thjture payments discounted at a market rate of interest. Financial liabilitie5 classified as payable ithin ¢)ne year are not amortised. Trade creditors are obligations to pay for goods or servicEs that have been acquired In the Ordin Urs8 of operations from suppliers. Amwnts payable are cLgssffied as Current lialm'lrties if payment is due vmthin one year or less. If not, they are presented as non-current liat4'1ities. Tr&Je credrtors are recognised init1811y al transaction pri and subsequerfy Mea$w at amortised cost uslng the effecb've intere8t metr)d. 19-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crftlcal accountlng e8tknat•8 and Judgemfrnts In the applitstion of the charrty's accountirvJ p)liues. the trustees we required to make judgements, 8stimales and assumptions 8t(Jut the c8nying amcyjnt of assets liats'litios that are Th)t readily apparent from other $wrces. The estimates and aS>Cla18d ossumptions are base(J on hist(xical expenence and other factors th81 are consid8red to t* relgvant ActtHI results may drfler from these estimates. The estimate$ and urKledyir¥J assumpti$ are re¥ve on an orYJoin9 b8sis. Revisions to xcounling e8tlmale$ are r¢ty)gnised in peri(wJ in which the estimate 18 revised where the revisi 8ffects lY that peri. ry In the p10d of t rwsion and TrJtuTe penods %sthere the revlswJn affects tr4)th current and futUf• p¢ric¥l$. Donallon• and l•gacl•• Unr•8trlGt•d R•strkt•d fvnd• Total Unrestricted Restricted fvnd¥ fund8 T¢)tsl 2023 2023 2023 2022 2022 2022 tknations and g1ft8 Legacie8 recefvable 55,204 15.OCrt) 13.693 15.316 e8,897 30.318 28,438 85,280 70.204 29.009 99.213 56,822 28,438 85,260 Donatlon• •nd gira Brethren & Lodge8 TLC DOaOn8 other 55.204 55.204 13,693 56.822 56.822 28,433 13.093 28,433 SS.204 13.693 68.897 ,822 28,438 85,260 Charftablo actlvhles Charltsble Incomè 2022 Sale of annual reports mason Bleak 3,180 8,S75 11.755 -20-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Inve8tments Unrnstrlcted Unrestricted funds funds 2023 2022 Rontal income Dlvldends receivab Intere$1 ¢¢1¥able 356,241 44,847 8.493 308,544 36,8C6 2,398 409,361 347,748 UnrMtrlct•d Unrnslncted fund• fund8 2023 2022 Other Inccthe 25,050 256 In¢luded In othér IoMe atrtho is £25.050 in relalThi to cash hekl 813181 December 2022 wrthin 8 bank aCCnI controllod by the chailty whlch had rol proviou$ty irjduded wilhin ts fiMncial statements. Ralslng fund Unr••trlct•d Unreslricted fund¥ funds 2023 2022 83,274 178,492 83.274 178.492 -21
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltable a¢tlvStl Charltable Charltrbbè EXpendure Expendttur• 2023 2022 Masonic 8k 7C#J 19,288 Grant fvndiryJ of {8ee note 9) 150.809 187,574 Share of supput costs18eo Th)te 101 Share of 9ovemanGg co818 (see rnta 10) 44,325 9,195 62,669 9,060 205.029 278,591 Anaty•h ty fund Unrestricted funds R88tn"cled funds 199,579 5,450 275.591 3.000 205,029 278,581 Grnnts p•yabl• Ch•rltabk Charitab Ewndltur• Expondrtur• 2023 2022 Grants to instilubon$.' Defibrilators Communty Supwrt Grants Norman Jack80n Legw Grants 1,000 7S,401 63,070 1.000 67.445 114.809 139.471 183,254 Grants to Indmthals 11.338 4,320 1 YJ,809 187,574
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Supportcosts Support Governanc• co¥1¥ 2023 Support Gov•rn•nc• costs costs 2022 other expenses Legal aTrJ profess1wl Man8gemént ¢tharge$ payab 945 4,478 20.691 4,478 20.691 5,880 37,500 37.500 37,500 37.500 Audrt ar¢d acCnt8nGY TrusleeB' meelng expenses 7.290 7.290 1.395 1,395 1.770 1.770 44,325 9.195 53,520 62,869 71,729 Analy bolvOn Charitable activities 44.325 9.195 S3,520 62,689 71,729 11 Audltorfs r•munorntlon F••• Yable to Ihe charlty'• audltor and •••oclat••: 2023 2022 Au(11 ofthe thariVs annuol aCunts 7.800 7.200 12 Trust• Ncne of the twstees (or ary c(ne¢ed wilh th9ml recelved ary TenvJneration or benefits from the chaity during the year. 13 EmphyM8 Tho average Month number ofempknyees during the year was". 2023 Nurnbor 2022 Numhr Totsl There kntre no emFAoyees 7Atose annual remurwalic** was more than £60,000.
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Other UDr•strlcted Restrictèd lunds fvndl Totsl Unrestricted funds 2023 2023 2023 2022 Other expendltLYe 7,002 16.318 23,320 2.581 16 Net galn•lllau•81 on Inv•8kn•nts Unrostrfctod Unre8tricted fund• fijnds 2023 2022 Revaluallon of investments Revaluab"on of Inveslmenl properties 56,371 1.532.387 (88,0141 13,8891 1,588,758 {91,903) 16 In¥Mtrnont pnworty 2023 Falr valu• At 1 January 2023 AthJftlon8 through extemal acquitson Net gal or lossas through fair valu? adjustments 6,541,366 54,251 1,532.387 Al 31 Décomber 2023 8.128,004 The investment woperbe8 Vtre revalued by D & G SuTheyirKJ SeNc88. Chartered Surveyors on 12 Decemter 2023 on the ba8 of market value of vacanl possessi. The trustees bdieve that thg ¥8lue of the properti'es held has not changed si9nffi¢anty gnce that date. The totsl falr value of the property ts ththich the ¢arity Imlds titlg Is £9,384.251. However, 8xcluded from the c8rying value of investmenl prcyety al0 is £1.265.247 (2022 - £1,108,634) in latiOn to the long leasehdderfs Intsrests for ¥p¢cific properties V*ithin the buildings. -24-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Ittve8trn•nt prop•ty (ContInu) 2023 2022 Freehold Lcxw lea88hd Short le88ehokl 8.128.004 6,541,368 17 Flx•d a•t Invoslm¢nts Lht•d Inv••tm•nts C1 or valuatton At 1 January 2023 Ackihions Valuation chanp8 Disposals 1,224,030 821,094 56,371 1315,313) At 31 December 2023 1,586,182 Carrylng amount At 31 December 2023 1,588.182 Ai 31 De¢emt*r 2022 1,224,030 2023 2022 Investments at fair value compri88". Equity Shares Investment Trusts & Unit Tru¥l$ UK Fixed Interést C8sh 1,2g3.975 123,534 107,133 61.540 785,324 190,211 98,432 150.063 1.586,182 1.224,030 -25-
DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Deblorn 2023 2022 Amounts falllng due wllhln one Yr. Other deb Prepayments and 8rUed incc*ne 153,154 12,971 86,145 15,449 166.125 101.594 19 Crodltorn: amounts falllng due wlthln one year 2023 2022 Trnde creditors Other ueditors Accruals and deferred irtome 378 2,271 10,065 8,958 8,220 8,490 12.714 23,8e6 Endowmfjnt lund• Endowment fund8 represent a8Sets whlth must bg hgkl pomanenyy by the charty. Irrne arising on tha •ndowmenl lunds can be uwl in accordance wth the objects of the chority and 18 induded a8 unre8lrtted income. Any capltsl 99in8 or losses ariyry on aBS8ts fom part of the fund. IAov•m•nt In funql• Incunlw BaknG• •t Mov•m•nt In funds Incomlng B•thn¢• l JInry 2022 e•lan¢• •t 2022 Perm•nènt endowrnonts Ernest Dixen Stholar¥hip FurKI 16.980 16.980 16,980 18,980 16,980 16,980 Th9 Ernest Dixon Schc4ar8hip endowm•nl fund is held to gww8t8 Income to provth grnnts lo childTen of brethrgn are $lLklenls at Unr¥ersty or Technicd Collew.
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DURHAM FREEMASONS CHARITY (FORMERLY THE DURHAM MASONIC BENEVOLENT FUND) NOTES TO THE FINANCIAL STATEAIENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 24 Capllal commltm•nts 2023 2022 At 31 December 2023 the charty had capital a$ folbjws.. Contracted for Ixrt not pro&id8d in Iho financid slatenwts.. Acquisltion of proprty, plant 4ThJ UlpTh $4,251 26 R&latod patty n3ctIon• Included in DonotkJn8 and LegpAes IOme1$ £Nil {2022 - £25,208 collected by PrwrK4al Grand Lodg8 of Ourham and then donated lo The Durham Masonie Benevolent Fund. IndLKbed in supwt costs 18 a management chwgg from Provinckil Grand Lodg8 of Durham of £37,50012022 - £37.500). The charity 18 owed £Nil12022 - £12.4731 from Outham Benevolence Trading Limlled, a comp8ny under Ihe $8me control as The Durham masb¢ Benevoknnl Fund. 26 Ca•h g•n•rntsd from operallon 2023 2022 Surplu81(dedtl for th8 y88r 1,752,705 (139,6951 Adju8tmènts for.. Investment income reccsnised in statement of financial activities Falr value galns orvj 10s$68 ¢M Inve81ment proprties Falr value galn8 and1088e8 investrnant$ {409,3811 11,532,387} (56,371) (347,7481 3,889 88,014 movnont$ In vxklng ca1. Ilncrea8el In debtor8 (Decreas•)fir88s• In cndltc 164.5311 110,9521 (38.751} 8,536 C••h absor1d by op•rntlon• 1320.917) 1425,7551 27 An•ly•h of changes In netlund The charty had no debt during lh8 y88r.