Charity reglstration number 512541 (England and Wales) FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 , xeinadin
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees A E Cross (Chairman) D Alldred R Alaxander A Bamber A Davies {Appointed 17 April 2024) Other offlcers G R Horstman D Walsh Provincial Grand Master Deputy Provincial Grand Master Assistant Provincial Grand Master Provincial Grand Registrar Secretary Treasurer Provincial GrandAlmoner Grants Aéministrator J Miller B Travers C E Lewis D L Berry MBE H Waddell S C Simpson Charlty number (England and Wales) 512541 Principal address 2 Oakhill Close West Derby Liverpool L12 OJR Independent examiner Xeinadin North West Limited 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9QP Bankers Co-operative Bank PO Box 250 Skelmersdale WN8 6wr
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE CONTENTS Page Trustee5' report Independent examiner's réport Statement of financial activlties Balance sheet Notes to the financial statements 6-12
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 The trustees present their annual report and financial statements for the year ended 31 October 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the nancial statements and comply with the charity's governing document, the Charities Act 2011. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP kcounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 2nd Republic of Ireland (FRS 102)" Objectlves and actlvltles The object of the Charity is the reli6f of distressed Mark Master Masons and their d8P8ndents and such olher Charitable Institutions, Societies and objects as the Trustees shall determine, and lo dlstribute charitable grants to worthy causes in the Province of Cheshire. The management of the Charity is under the control of the Trustees who are assisted by the committee members. Th8re have been no changes in the objectives and organisation of the Charity sinGe the last report. Public benelil The trustees have paid éue regard to guldance issued by the Charity Commission in deciding what activities the charity should undertake. Usage of traditional masonic fund raising activit18S. Significant aclivities include proceeds of raffles al fomial dinners, a 1000+ club, fund ralsing dinners and lodge contributions, Social inveslmenls Social inveslment is for the betterment of the people of Cheshire. The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 10 have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Grant making policy All grants are considered by the committee and approved Dr rejected based on compliance wilh the charity's objectives and available funds. Volunteers All time given to the charity by indlvSduals is on a volunteer basls. Achièvoments and performance Significant activities and achievements againsl objectives The trustees consider the performance of the Fund to be satisfactory enabling the objectives of the Charity to be met. Financlal revlew The charity continues to enjoy good support from the members of the Province of Cheshire Mark Masons and their friends, which along with the consistent income stream from the designated fijnd investments generated income during the year £45.743 (2023.. £58,040) This has enabl8d the trustees to distribute £57,172 12023,. £43,000) to Masonic and non-masonic causes during the year. The trustees are satisfied with the charity's state of affairs and of its ability to continue to operate in its present capacity with total funds of £564,059 (2023-. £526.468> at the balance sheet date. Going concern The Trust is a going concern, does not have any borrowings and always maintains a liquid surplus.
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 ReseNes policy The fund accumulated over many years from donations received and fund raising activities organised by the Mark Master Masons of Cheshire was established as a Designated Fund on 31 October 2005. This fund now provides income for distribution to worthy causes and individuals within the remit of the Trust Deed over the three-year rolling cycle. The Trustees have confirmed their commitment to maintain this Designated Fund into the future so as lo safeguard the availability of funds for distribution. There are no funds in deficit. Principal funding sources The principle funding source is the members of Provincial Grand Lodge of Mark Master Masons of Cheshire. Investmen¢ policy The Charity's investrnenls are managed by Investec under a full discrelionary management agreement aimed at maximising the return on investments, whilst maintaining the capital value. Major nsks The major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed and systems have been established lo mitigate these risks. structure, governance and management The Charity is constituted under a Deed of Trust dated 12 March 1982 and constitutes an unincorporated charity. It is a Registered Charity (No.. 512541). The trustees who served during the year and up lo the date of signature of the financial statements were.. A E Cross (Chairman) D R Hinde D Alldred R Alexander A Bamber A Davies (Resigned 17 January 2024) {Appointed 17 April 2024) R8cruitment and appointment of trustees New trustees are appointed by the board of trustees as arising. A5 all appointees are experienced in charitable work, no formal induction and training is deemed necessary. All trustees give their lime voluntarily and receive no remuneration or other benefils. Organisational structure The organisation consists of trustees and committee members. Details of trustees and other officers are provided in the Legal and Adminislralive Information section. The trustees, report was approved by the Board of Trustees. Yos£ A E Cross (Chairman) Trustee 11 April 2025
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE I report to th8 trustees on my examination of the financial statements of Fund of Benevolence of Mark Master Masons of Cheshire (the charity} for the year ended 31 October 2024. Responslbllltles and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the CharitiesAct 2011. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515)Ibl of the Charities Act 2011. Independent examlner's statement Your attention is drawn to the facl that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting PractlC8. I have completed my examination. I confirm that no matters have come to my attention In connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe financial statements give a true and fair view, which is nol a matter considered as part of an independent examination. I have no concerns and have come across no other mattets in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of Ihe financial statements to be reached. Alastair J Jeffco AFCA Xeinadin North West Limited 11 April 2025 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9QP
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestricted funds 2024 Unrestrfcted funds 2023 Notes Income from: Donations and legacies Other trading activities Investments 19,426 256 26,061 32,690 29 25,321 Total income 45,743 58,040 Expenditure on: Raising funds Charitable activities 2,524 58,899 2,502 50,077 Total expendlture 61,423 52,579 Net galnsl(losses) on investments 11 53,271 (19,491) Net Incomel{expenditurel and movement in funds 37,591 (14,030) Reconciliation of funds: Fund balances al 1 November 2023 528,468 540,498 Fund balances at 31 Octobor 2024 564,059 526,488 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies.
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE BALANCE SHEET ASAT 31 OCTOBER 2024 2024 2023 Notes Flxed assets Investments 540,371 491,83g Current assets Debtors Cash at bank and in hand 14 350 24,128 38,349 24,478 38,349 Credltors: amounts falling due within one year 15 1790) (3,7201 Net current assets 23,688 34,829 Total assets less current Ilabllities 564,059 526,468 The funds of the charlty Unrestricted funds 16 564.059 526,468 564,059 528.468 The financia1 slatements were approved by the trustees on 11 April 2025 los A E Cross (Chairman) Trustee
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting pollcles Charity infomiatlon Fund of Benevolence of Mark Master Masons of Cheshire is conslituted under a Deed of Trust dated 12 Mard) 1982 and constitutes an unincorporated registered charity. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charity's goveming document. the Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) The charily is a Public Benefit Entity as defined by FRS 102. The charily has taken advantage of the provisions in the SORP for charities not tt) pr8pare a statanent of cash flows. The financial slatements have departed from the Charities (Accounts and Reports) Regulstlons 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommenéed Practice for charities applying FRS 102 rather than Ihe version of the Statement of Recommended Practice whlch is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is Ihe functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cosl convention, modified to include certaln flnancial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial ststemenls, the trustees have a reasonable expectation that the charity has adequate resources to continue in operalional existence for the foreseeable fijture. Thus the trtee6 continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in Ihe notes lo the financial statements. Endowment funds are subjed to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the charity ha5 been notified of the donation, unless performance conditions require deferral of the amount. 5ncome tax recoverable in relation to donations reIVed under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcles Icontlnuedl 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement. and the amcunl of the obligation can be measured reliably. Expenditure is classified by actlvity. The costs of each activity are made up of the total of dIt costs and shared cost5. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activily. Shared costs which contribute to more than one activity and support costs which are not attrlbutable to a single activity are apportioned between those activities on a basis onsistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Charitable activltles Charitable expenditure comprises those Gosts incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated dlrectly to such activities and those costs of an indirect nature necessary to support them. Ralslng funds Thes8 are costs incurr8d in attracting voluntary income, the management of Investments and those incurred in trading activities that raise funds. Grant provlslons Provisions for grants are made when the intention to make a grant has b8en communicated to the reapient but there is uncertainty about either the timing ofthe grant or the amount of grant payable. 1.6 Fixed asset investments Fixed asset investments are Inltially measured at transaction pri excluding Iransaction costs, and are subsequently measured at fair value at each reporting date Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents Include cash in hand, deposits held at call with banks, other short-term liquid investments with original malurilies of the months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instrumonts The charity has elecled to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomès party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting pollcles (Continued> Basic flnancial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest melhod unless the ariangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc financial Ilabilities Ba51c finanGial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangernent constitutes a financing transaction. where the debt instrument 15 measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are nol amortised. Debt instruments are subsequently carried at amortised cost, using the effeGlive interest rate method. Trade credllors are obligations to pay for goods or services that have been aCqUid in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenlly measured at amortised cost using the effective inter8St method. Derecognition of flnancial Ilabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or canlled. Income from donatlons and legacle8 Unrestrlcted funds 2024 UnrestrlGted funds 2023 Donations and gifts Legacies 19,426 2,690 30,000 19,426 32.690 Income from other tradlng activitles Unrestrlct8d UnrestTlCted funds funds 2024 2023 Other income 258 29
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Income from Investments Unrestrictsd Unrestrlcted funds funds 2024 2023 Income from listed investments 26,061 25,321 Expenditure on ralslng funds Unrestricted Unrestricted funds funds 2024 2023 Fundra181ng and publlclty Other fundraising costs 2,524 2,502 Expenditure on Gharitable aGtivities Masonlc Masonlc b•navolence benevolence 2024 2023 Dlrect costs Donations Other costs 57,172 721 43,000 3,960 57,893 46,960 Share of support and governance costs (see note 7) Support 1.006 3,117 68,899 50,077 Analysls by fund Unrestricted funds 58,899 50,077
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 OCTOBER 2024 Support costs allocated to actlv5tles 2024 2023 Administration costs Bank charges Subscriptions Room hire Postage and stationery Governance costs 1,878 93 216 135 237 558 20 179 49 128 630 1,006 3,117 Analy5ed between: Masonic benevolence 1,008 3,117 Net movement In funds 2024 2023 The net movement in funds is staled after chargingl(crediting)'. Fees payable for the Independent examination of the charity's financial statements 630 558 Trustees None of the trustees {or any persons connected with them) received any remuneration or benefits from the Charity during the year. 10 Employees The average monthly number of employees during the year was". 2024 Number 2023 Number Totsl There were no employees whose annual remuneration wa5 more than £60,000. 11 Gains and losses on investments Unrestrlcted Unrestricted funds funds 2024 2023 Gainsl(losses) arising on.. Revaluation of investments 53,271 (19.491} 10-
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 12 Taxatlon The charty is exempt from taxation on its activities because all its income is applied for charitable purposes. 13 Flxad asset Investments Llsted Investments Cost or valuatlon At 1 November 2023 Additions Valuation changes Reclassification Disposals 491,839 55,869 53,040 {4,034) (56,143) At 31 October 2024 540,371 Carrylng amount At 31 October 2024 540,371 At 31 October 2023 491,839 14 Debtors 2024 2023 Amounts falling due within one year: Other debtors 350 15 Creditors: amounts falllng due wlthln one yèar 2024 2023 Accruals and deferred income 790 3,720 16 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donor5 and grantors as to how they may be used. These include designated funds which have been set aside oul of unrestricted funds by the trustees for specific purposes. At1 November 2023 Incomlng resources Resources expended Galns and At 31 October losses 2024 General funds 526,468 45,743 {61,423) 53,271 564,059 11
FUND OF BENEVOLENCE OF MARK MASTER MASONS OF CHESHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 16 Unrestrlcted funds IContSnu8d) Prevlous year: At1 November 2022 Incomlng resources Resources expended Galns and At 31 October losses 2023 General funds 540,498 58.040 {52,579) (19,491) 528,468 17 Related party transactions There were no dlsclosable related paty transactions during thè year (2023 - nonè). 12-