Charity registration number: 513942
The West Wales Grand Charity
Annual Report and Financial Statements
for the Year Ended 31 March 2022
The West Wales Grand Charity
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 13 |
The West Wales Grand Charity
Reference and Administrative Details
Trustees Mr M V Eckley Mr A C Trumper Mr J Ross, President Mr R L James Mr S A Thurgood Mr L C Hughes Charity Registration Number 513942 Principal Office 13 New Road Haverfordwest SA61 1TU Independent Examiner LHP Chartered Certified Accountants Llys Deri Parc Pensarn Carmarthen SA31 2NF
Page 1
The West Wales Grand Charity
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2022.
Objectives and activities
Objects and aims
The purposes of the Charity are:-
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To receive financial donations from individual Masons, Masonic Lodges and Chapters and other Masonic bodies.
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To distribute such sums to such other charities or charitable objects or causes, Masonic or otherwise, as the Management Committee of the Charity may from time to time decide.
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To maintain such invested reserves as the Trustees may consider necessary and appropriate to ensure adequate income to meet the expected demands and commitments of the Charity.
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To receive, invest and administer the funds forming "The David and Elonwy Evans Masonic Trust Fund" in accordance with the terms agreed with the Charity Commissioners for England and Wales.
The Charity does not derive any income from the general public through fundraising events.
The Charity does not employ any staff and is administered by voluntary members.
Public benefit
The objects of the charity are to distribute funds to charitable causes and to other charities. The charitable causes chosen have an emphasis on youth related groups and include local scout groups, amateur sports clubs, youth opera and other musical groups. Bursaries are provided for several further education colleges.
THE DAVID AND ELONWY EVANS MASONIC TRUST FUND
The Fund represents the net residue of the estate of the late David John Evans and it has been resolved by the Trustees that this fund be treated as a Permanent Endowment Fund the capital being safeguarded. In accordance with the terms of the will which also stipulates that the income from the fund is to be applied in aid of "non-masonic charitable organisations with particular reference to the disadvantaged child".
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Financial review
Policy on reserves
The Charity's policy in relation to its reserves is that they should be invested in low risk institutions and/or Government stocks.
Investment policy and objectives
The Charity is careful to maintain a substantial portfolio of investments in order to ensure on-going income especially to meet its Annuity and Bursary commitments and also its donations to local causes in West Wales (including Teddies for Loving Care) - particularly in case of any further downturn in the economic climate and of investment yields and of donations inwards.
Page 2
The West Wales Grand Charity
Trustees' Report (continued)
Going concern
The trustees have no uncertainties about the charity's ability to continue as a going concern.
Structure, governance and management
Nature of governing document
The Charity is an unincorporated association and was first constituted in August 1982 and first registered on 23rd September 1983.
The governing document of the Charity is now set out under the heading "Provincial Grand Charity - Rules of Administration" in the revised By Laws of the Province of West Wales and was approved on the 3rd July 2008.
Recruitment and appointment of trustees
New trustees are recruited from the members of the Province of West Wales who are all Freemasons.
The Management Committee shall appoint not more than six persons to act as Trustees or as holding Trustees of the Charity. Those persons shall be:-
i) The Provincial Grand Master
ii) The Deputy Provincial Grand Master iii) The Assistant Provincial Grand Master iv) The Provincial Grand Treasurer v) The Provincial Grand Secretary
vi) The Secretary/Treasurer of the Masonic Charities Association
Induction and training of trustees
New trustees undergo an induction to brief them on their legal obligations under charity law, the objects of the charity, the Management Committee and its decision-making processes, its forward planning and its recent financial performance. Trustees are encouraged to attend appropriate training events where these will facilitate the undertaking of their role.
Arrangements for setting key management personnel remuneration
All trustees give their time voluntarily and receive no remuneration or other benefits.
Page 3
The West Wales Grand Charity
Trustees' Report (continued)
Organisational structure
The Trustees administer the Charity and make all determinations of grants to be made, including those made in response to appeals recommended by the Provincial Grand Charity Appeals Committee.
The Provincial Grand Committee Appeals Committee comprises the following:-
a) The Trustees of the Charity
b) The Provincial Grand Charity Steward
c) The Provincial Grand Almoner
d) The Provincial Assistant Grand Charity Stewards
e) The Charity Steward of each Lodge in the Province
f) Officers of the Charity as listed below:
OFFICERS
The Officers of the Charity are:-
President The Provincial Grand Master (appointed by the Grand Master of the United Grand Lodge of England, currently HRH the Duke of Kent KG)
Deputy President The Deputy Provincial Grand Master (appointed by the Provincial Grand Master)
Secretary The Provincial Grand Secretary (appointed by the President)
Treasurer The Provincial Grand Treasurer (elected annually by all the members of the Provincial Grand Lodge).
The Provincial Grand charity Appeals Committee is empowered to co-opt not more than three Brethren as additional members of whom one may be nominated by the President.
Major risks and management of those risks
Business risk
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable protection against fraud and error.
The Management Committee is satisfied that adequate systems and procedures of internal audit are in place to manage the identified risks of fraud and error.
Funds held as custodian trustee on behalf of others
Currently there is £2,457.50 being held for Dr John B Lloyd Trust.
The family are in the process of setting up a charitable trust in his memory. The money will be transferred when the trust is functional.
The annual report was approved by the trustees of the charity on 10 February 2023 and signed on its behalf by:
Page 4
The West Wales Grand Charity
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 10 February 2023 and signed on its behalf by:
......................................... Mr J Ross Trustee
Page 5
The West Wales Grand Charity
Independent Examiner's Report to the trustees of The West Wales Grand Charity
I report to the trustees on my examination of the accounts of The West Wales Grand Charity for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of The West Wales Grand Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the The West Wales Grand Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of The West Wales Grand Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
......................................
Chartered Certified Accountants
Llys Deri Parc Pensarn Carmarthen SA31 2NF
10 February 2023
Page 6
The West Wales Grand Charity
Statement of Financial Activities for the Year Ended 31 March 2022
| Note Income and Endowments from: Donations and legacies Investment income 3 Total Income Expenditure on: Charitable activities Total Expenditure Gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 |
Unrestricted funds £ 106,851 16,304 123,155 (143,949) (143,949) (2,528) (23,322) 430,067 406,745 |
Endowment funds £ - 32,391 32,391 (1,665) (1,665) (6,147) 24,579 1,319,817 1,344,396 |
Total 2022 £ 106,851 48,695 155,546 (145,614) (145,614) (8,675) 1,257 1,749,884 1,751,141 |
Total 2021 £ 111,917 46,051 |
|---|---|---|---|---|
| 157,968 | ||||
| (382,413) | ||||
| (382,413) | ||||
| 189,115 | ||||
| (35,330) 1,785,213 |
||||
| 1,749,883 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 12.
The notes on pages 9 to 13 form an integral part of these financial statements. Page 7
The West Wales Grand Charity
(Registration number: 513942) Balance Sheet as at 31 March 2022
| Note Current assets Investments 9 Cash at bank and in hand 10 Creditors: Amounts falling due within one year 11 Net assets Funds of the charity: Endowment funds Unrestricted income funds Unrestricted funds Total funds 12 |
2022 £ 1,524,289 230,885 1,755,174 (4,033) 1,751,141 1,344,396 406,745 1,751,141 |
2021 £ 1,532,964 221,177 |
|---|---|---|
| 1,754,141 (4,258) |
||
| 1,749,883 | ||
| 1,319,817 430,066 |
||
| 1,749,883 |
The financial statements on pages 7 to 13 were approved by the trustees, and authorised for issue on 10 February 2023 and signed on their behalf by:
....................................................................................
Mr J Ross Trustee
The notes on pages 9 to 13 form an integral part of these financial statements. Page 8
The West Wales Grand Charity
Notes to the Financial Statements for the Year Ended 31 March 2022
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The West Wales Grand Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
Charitable activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Page 9
The West Wales Grand Charity
Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)
Governance costs
These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit.
Taxation
The charity is a registered charity and is therefore exempt from tax
Current asset investments
Current asset investments are included at market value as valued by the stockbrokers, Sarasins, at the financial year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for 2022 Total for 2021 |
Unrestricted funds General £ 106,851 106,851 111,917 |
Total funds £ 106,851 |
|---|---|---|
| 106,851 | ||
| 111,917 |
Page 10
The West Wales Grand Charity
Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)
3 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Other income from current asset investments Total for 2022 Total for 2021 4 Expenditure on charitable activities Note Grant funding of activities Governance costs Total for 2022 Total for 2021 |
Unrestricted funds General £ 5,006 11,298 16,304 12,233 Unrestricted funds General £ 143,949 - 143,949 380,463 |
Endowment funds Permanent £ - 32,391 32,391 33,818 Endowment funds Permanent £ - 1,665 1,665 1,950 |
Total funds £ 5,006 43,689 |
|---|---|---|---|
| 48,695 | |||
| 46,051 | |||
| Total funds £ 143,949 1,665 |
|||
| 145,614 | |||
| 382,413 |
5 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Legal fees Total for 2022 Total for 2021 |
Endowment funds Permanent £ 1,575 90 1,665 1,950 |
Total funds £ 1,575 90 |
|---|---|---|
| 1,665 | ||
| 1,950 |
Page 11
The West Wales Grand Charity
Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)
6 Grant-making
Analysis of grants
| Analysis Grant-making |
Grants to institutions 2022 £ 2021 £ 142,949 379,463 |
Grants to individuals 2022 £ 2021 £ 1,000 1,000 |
|---|---|---|
The support costs associated with grant-making are £Nil (31 March 2021 - £Nil).
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
8 Independent examiner's remuneration
| 8 Independent examiner's remuneration |
||
|---|---|---|
| Examination of the financial statements 9 Current asset investments Listed other shares 10 Cash and cash equivalents Cash at bank 11 Creditors: amounts falling due within one year Other creditors Accruals |
2022 £ 1,575 2022 £ 1,524,289 2022 £ 230,885 2022 £ 2,458 1,575 4,033 |
2021 £ 1,860 |
| 2021 £ 1,532,964 |
||
| 2021 £ 221,177 |
||
| 2021 £ 2,458 1,800 |
||
| 4,258 |
Page 12
The West Wales Grand Charity
Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)
12 Funds
| Unrestricted funds General Endowment funds Permanent Total funds Unrestricted funds General Endowment funds Permanent Total funds |
Balance at 1 April 2021 £ 430,067 1,319,817 1,749,884 Balance at 1 April 2020 £ 638,055 1,147,158 1,785,213 |
Incoming resources £ 123,155 32,391 155,546 Incoming resources £ 124,150 33,818 157,968 |
Resources expended £ (143,949) (1,665) (145,614) Resources expended £ (380,463) (1,950) (382,413) |
Other recognised gains/(losses) £ (2,528) (6,147) (8,675) Other recognised gains/(losses) £ 48,324 140,791 189,115 |
Balance at 31 March 2022 £ 406,745 1,344,396 |
|---|---|---|---|---|---|
| 1,751,141 | |||||
| Balance at 31 March 2021 £ 430,066 1,319,817 |
|||||
| 1,749,883 |
Page 13
The West Wales Grand Charity
Statement of Financial Activities by fund for the Year Ended 31 March 2022
| Income and Endowments from: Donations and legacies Investment income Total income Expenditure on: Charitable activities Total expenditure Gains/losses on investment assets Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Unrestricted Funds 2022 £ 106,851 16,304 123,155 (143,949) (143,949) (2,528) (23,322) (23,322) 430,067 406,745 |
Total Unrestricted Funds 2021 £ 111,917 12,233 |
|---|---|---|
| 124,150 | ||
| (380,463) | ||
| (380,463) 48,324 |
||
| (207,989) | ||
| (207,989) 638,055 |
||
| 430,066 |
This page does not form part of the statutory financial statements. Page 14
The West Wales Grand Charity
Statement of Financial Activities by fund for the Year Ended 31 March 2022 (continued)
| Income and Endowments from: Investment income Total income Expenditure on: Charitable activities Total expenditure Gains/losses on investment assets Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Endowment Funds 2022 £ 32,391 32,391 (1,665) (1,665) (6,147) 24,579 24,579 1,319,817 1,344,396 |
Total Endowment Funds 2021 £ 33,818 |
|---|---|---|
| 33,818 | ||
| (1,950) | ||
| (1,950) 140,791 |
||
| 172,659 | ||
| 172,659 1,147,158 |
||
| 1,319,817 |
This page does not form part of the statutory financial statements. Page 15
The West Wales Grand Charity
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Income and Endowments from: Donations and legacies (analysed below) Investment income (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Gains/losses on investment assets (analysed below) Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2022 £ 106,851 48,695 155,546 (145,614) (145,614) (8,675) 1,257 1,257 1,749,884 1,751,141 |
Total 2021 £ 111,917 46,051 |
|---|---|---|
| 157,968 | ||
| (382,413) | ||
| (382,413) 189,115 |
||
| (35,330) | ||
| (35,330) 1,785,213 |
||
| 1,749,883 |
This page does not form part of the statutory financial statements. Page 16
The West Wales Grand Charity
Detailed Statement of Financial Activities for the Year Ended 31 March 2022 (continued)
| Donations and legacies Appeals and donations Other income Investment income Income from listed investments Income from listed investments Interest on cash deposits Interest on cash deposits Charitable activities Grants payable - institutions Teddies for loving care Grants payable - individuals Independent examiner's fee Legal and professional fees Bank charges Gains/losses on investment assets Reval reserve - Movement in value of investments Reval reserve - Movement in value of investments |
Total 2022 £ 106,851 - 106,851 32,388 11,298 3 5,006 48,695 (140,843) (2,106) (1,000) (1,575) (90) - (145,614) (6,147) (2,528) |
Total 2021 £ 106,196 5,721 |
|---|---|---|
| 111,917 | ||
| 33,789 11,772 29 461 |
||
| 46,051 | ||
| (377,235) (2,228) (1,000) (1,860) - (90) |
||
| (382,413) | ||
| 140,791 | ||
| 48,324 |
This page does not form part of the statutory financial statements. Page 17