WEST LANCASHIRE MARK CHARITY FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
REGISTERED CHARITY NO: 327021
WEST LANCASHIRE MARK CHARITY FUND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Page | |
|---|---|
| Legal and administrative details | 1 |
| Report of the Trustees | 2 - 3 |
| Report of the independent examiner | 4 |
| Principal accounting policies | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 10 |
WEST LANCASHIRE MARK CHARITY FUND
LEGAL AND ADMINISTRATIVE DETAILS
| Registered Charity Number | 327021 |
|---|---|
| Address | c/o 25 Hough Lane |
| Leyland | |
| Lancashire | |
| PR5 2SB | |
| Trustees | K A Beardmore |
| P Connolly | |
| M J Clarke | |
| G H Lee | |
| Committee | K A Beardmore |
| P Connolly | |
| G H Lee | |
| M J Clarke | |
| G F Berkley (Chairman) | |
| J C Bicknell | |
| M M Evans (Hon Treasurer) | |
| L F Norton | |
| P H Taaffe | |
| E J Sarti | |
| C Hughes (Hon.Secretary) | |
| Hon Treasurer | M M Evans |
| Hon Secretary | C Hughes |
| Bankers | National Westminster Bank Plc |
| City Office | |
| 22 Castle Street | |
| Liverpool | |
| L69 2BE | |
| Independent Examiner | D J Hudd FCA |
D J Hudd FCA Livesey Spottiswood Registered Auditors & Chartered Accountants 17 George Street St Helens Merseyside WA10 1DB
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WEST LANCASHIRE MARK CHARITY FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Trustees present their report together with financial statements for the year ended 30 September 2022.
Objectives and Organisation
West Lancashire Mark Charity Fund was established by a Declaration of Trust dated 2 June 1985 and is registered with the Charity Commission No. 327021.
The object of the Fund is to raise funds for the benefit of such Masonic charities or other charitable institutions, societies and objects, as the Committee shall from time to time direct.
The management of the Fund is under the control of the Committee.
Committee and Trustees
Members of the Committee at the end of the year are listed below:-
K A Beardmore P Connolly G H Lee M J Clarke G F Berkley (Chairman) J C Bicknell M M Evans E J Sarti L F Norton P H Taaffe C Hughes
The Hon Treasurer during the year was M M Evans and the Hon Secretary was C Hughes.
The Trustees are K A Beardmore, P Connolly, M J Clarke and G H Lee.
The charity is administered by the Committee who meet regularly throughout the year.
All Committee members retire by rotation each year and may stand for re-election. Election of Trustees and Committee members is by existing Trustees and Committee members.
Within the Committee and Trustees there is a wide range of expertise and experience.
Financial Review and Statement of Policies
The attached financial statements show the current state of the finances, which the Trustees consider to be sound.
The Charity had incoming resources of £32,893 (2021: £9,531) and outgoing expenditure of £30,053 (2021: £16,424), excluding unrealised gains/(losses) on investments, resulting in net incoming resources of £2,840 (2021: outgoing expenditure £6,893). The resources expended comprised £26,032 (2021: £15,379) of grants and donations made to other charities in accordance with the Charity’s objectives, and £1,321 (2021: £1,045) on its management and administration.
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WEST LANCASHIRE MARK CHARITY FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2022 (continued)
Investment Policy
The committee meets regularly to consider the charity’s funding position and throughout the year funds have been held in interest bearing accounts with the charity’s bankers, yielding a return of less than 1%. In addition, there is a portfolio of investments managed by Investec on behalf of the Charity.
Public Benefit
The Trustee’s Report and the Financial Statements are prepared having due regard to the Charity Commissions guidance on public benefit and demonstrate how the organisation’s objectives, activities and performance meet these requirements.
Reserves Policy
It is the policy of the charity to hold reserves in its unrestricted funds in order to establish an appropriate level of working capital and to protect the future operations of the charity from the effects of any unforeseen and material variations in its income streams, as part of a policy of good financial management.
Risk Management
The Trustees continue to be aware of their responsibility regarding risk management and meet regularly to continue to profile risks, examine controls already in place and embed controls to mitigate significant risks.
Trustees’ Responsibilities for the Financial Statements
Charity law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the financial activities of the charity during the year and of its financial position at the year end. In preparing those financial statements, the Trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and to ensure that the financial statements comply with the Charities Act 2011 and regulations there under. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ON BEHALF OF THE TRUSTEES
…………………………………..
K A Beardmore Trustee
18 January 2023
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WEST LANCASHIRE MARK CHARITY FUND
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
I report on the accounts for the year ended 30 September 2022, set out on pages 5 to 10.
Respective Responsibilities of Trustees and Examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011) and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
i. which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 130 of the Charities Act;
-
to prepare accounts which accord with the accounting records
-
to comply with the applicable requirements set out in the Charities (Accounts and Reports) Regulations 2008
have not been met; or
- ii. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Hudd BA FCA
Livesey Spottiswood Chartered Accountants St Helens Merseyside WA10 1DB
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WEST LANCASHIRE MARK CHARITY FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PRINCIPAL ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared under the historical cost convention in accordance with the Statement of Recommended Practice; Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16[th] July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The trustees consider that there are no material uncertainties arising about the charity’s ability to continue as a going concern.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Incoming Resources
All donations are included in full in the statement of financial activities when receivable.
Investment income is recognised when receivable.
Expenditure
Expenditure, which is charged on an accruals basis, is allocated between:
-
expenditure incurred directly to the fulfilment of the charity’s objectives (direct charitable)
expenditure incurred directly in the effort to raise voluntary contributions (fundraising);
- expenditure incurred in the management and administration of the charity
Stocks
Stocks are stated at the lower of cost and net realisable value.
Grants and Donations
Grants and donations are made in accordance with the charity’s objectives. Applications for grants are invited for the purchase of specific capital expenditure from mainly locally based charities, and if considered appropriate, are then approved by the Committee before the grant is made.
Fund Accounting
The general fund is considered to be unrestricted and comprises all incoming resources received or generated for expenditure on the general objectives of the charity.
Investments
Investments are valued at market value at the balance sheet date.
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WEST LANCASHIRE MARK CHARITY FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Notes | |||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| Funds | Funds | ||
| 2022 | 2021 | ||
| Income | £ | £ | |
| Incoming resources | |||
| Voluntary income – donations | 28,730 | 8,921 | |
| Activities for generating funds | 1 | 3,079 | - |
| Investment income | 2 | 1,084 | 610 |
| Total incoming resources | 32,893 | 9,531 | |
| Expenditure | |||
| Resources expended | |||
| Charitable activities: grants and donations | 3 | 21,032 | 7,379 |
| Merchandising costs | 1 | 2,700 | - |
| To Benevolent account | 5,000 | 8,000 | |
| Management and administration | 4 | 1,321 | 1,045 |
| Total resources expended | 30,053 | 16,424 | |
| Net incoming resources/(outgoing) expenditure | 2,840 | (6,893) | |
| Other unrecognised (losses)/gains | |||
| (Losses) on investment assets | 6 | (25,169) | 24,711 |
| Fund balances brought forward at 1 October 2021 | 213,638 | 195,820 | |
| Fund balances carried forward at 30 September 2022 | 191,309 | 213,638 |
The accompanying accounting policies and notes form an integral part of these financial statements.
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WEST LANCASHIRE MARK CHARITY FUND
BALANCE SHEET FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Notes 2022 Fixed Assets £ Investments 6 174,008 Current Assets Cash at bank 17,301 191,309 Funds Unrestricted funds – General funds 191,309 |
2021 £ 198,095 15,543 |
|---|---|
213,638 213,638 |
The financial statements were approved by the Trustees on 18 January 2023 and signed on the Trustees’ behalf by:
| K A Beardmore | Chairman |
|---|---|
| M M Evans | Treasurer |
The accompanying accounting policies and notes form an integral part of these financial statements.
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WEST LANCASHIRE MARK CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1 Activities for Generating Funds
Income from the sale of merchandise has been reported net in the statement of financial activities. Gross results were as follows:-
| Gross proceeds Direct expenses 2 Investment Income Bank Interest Investments held by Fund Manager |
2022 2021 £ £ 3,079 - (2,700) - 379 - 2022 2021 £ £ 2 1 1,082 609 1,084 610 |
|---|---|
The Investments held by Fund Manager comprises £3,759 income less Management Charges of £2,677.
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WEST LANCASHIRE MARK CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2021
3 Direct Charitable Expenditure – grants and donations
| Royal British Legion – Poppy Appeal Lancashire and South Cumbria NHS Northwest Blood Bikes Blackpool Victoria Hospital Chorley Mental Health Mark Benevolent Fund (in memoriam) Mark Benevolent Fund (Ukraine) The Sparkle Bean Trust North West Air Ambulance St Lawrence Church PCC Sue Ryder St Michaels CE High School Graham Fulford Charity Trust Mark Benevolent Fund 4 Management and Administration Expenditure Printing, stationery and postage Accountancy fees Other administration expenses |
2022 £ 832 400 1,000 600 1,100 10,200 5,000 1,800 - 100 - - - - 21,032 2022 £ 160 996 165 1,321 |
2021 £ - - - - - - - - 300 100 250 250 2,479 4,000 7,379 2021 £ 24 996 25 1,045 |
|---|---|---|
5 Payments to the Trustees, Committee and Connected Persons
No Trustees or member of the Committee or person with a family or business connection with a Trustee or member of the Committee, received remuneration or expenses in the year, either directly or indirectly, from the charity.
- 6 Investments
| Held by Investment Manager Market Value at beginning of year Additions to investments at cost Net loss on revaluation Market Value at end of year |
2022 £ 198,095 1,082 (25,169) 174,008 |
2021 £ 172,775 609 24,711 198,095 |
|---|---|---|
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WEST LANCASHIRE MARK CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2022
8 Contingent Liabilities
- There were no contingent liabilities at 30 September 2022 and 30 September 2021.
9 Capital Commitments
The charity had no capital commitments at 30 September 2022 and 30 September 2021.
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