REGISTERED CHARITY NUMBER: 515337
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
BRIDGEND MASONIC LODGES CHARITABLE TRUST
Graham Paul Limited Court House Court Road Bridgend CF31 1BE
BRIDGEND MASONIC LODGES CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | ||
|---|---|---|
| Report of the Trustees | 1 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Notes to the Financial Statements | 7 to | 12 |
BRIDGEND MASONIC LODGES CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity is the relief of such poor and distressed Brother Masons or their children or for the benefit of such Masonic charities or other exclusively charitable institutions, societies and objects as the trust shall in duly constituted meetings from time to time direct.
PUBLIC BENEFIT
All our charitable activities are undertaken to further our charitable purposes for the public benefit. During the year the charity has had due regard to the guidance published by the charity commission on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trust continued to operate and maintain the Bridgend Masonic Hall which enabled it, as well as the 30 Masonic groups that use it, to raise considerable sums for charitable purposes.
Although the Masonic Groups (Lodges, Chapters, etc) that are based at Bridgend are not Registered Charities, a conservative estimate of the total charitable donations entirely attributable to the groups based there would be at least £45,000 per annum.
During the year, staff members were furloughed and the Government Grant is in respect of the HMRC payments received as part of the furlough scheme.
FINANCIAL REVIEW
Financial position
Net income for the year amounted to £40,276 (2020 - £8,299) The balance of reserves as at 31 December 2021 was £216,246 (2020 - £175,970).
Investment policy and objectives
To invest in:
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Any investment for the time being authorised by law for the investment of trust funds.
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Debentures or debenture stock or fully paid preference, ordinary or deferred shares or stock in established, large companies dealt in or quoted on a recognised UK stock exchange. UK corporations for public purposes established by Act of Parliament.
Reserves policy
Reserves are needed to bridge the gap between spending and receiving income and to cover unplanned emergency repairs and other expenditure. The Trustees consider that the ideal level of reserves is £10,000.
The reserve is required to;
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Bridge possible delays in recovering rents or any payments due that are in arrears
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Cover accrued expenditure items
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Unplanned emergency repairs
The reserves can be spent with the authority of the Trustees.
The Reserves Policy will be reviewed at each Annual General Meeting of the Trustees.
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The day to day operations of the trust are overseen by the trustees.
Induction and training of new trustees
It is intended that new trustees undergo an orientation day to brief them on their legal obligations under charity law, the Trust Deed, the committee and the decision making process, the business plan and recent financial performance and to gain a better insight of the charity as a whole. This includes a visit to meet with the staff.
Area of operation
Predominantly the establishment, operation and maintenance of the Bridgend Masonic Hall, Coychurch Road, Bridgend.
This enables 30 Masonic bodies to meet and to continue their considerable charitable works both in their own right and by way of The Bridgend Masonic Lodges Charitable Trust.
Wholly owned subsidiary
On 28 October 2013 the Square and Compasses Bar Limited was formed to undertake a trading activity in support of the charity. Trading commenced with effect from 1 January 2014.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
515337
Principal address
The Masonic Hall Coychurch Road Bridgend CF31 2AP
Trustees
C H Thomas J Lewis D Edwards (Chairman) J D Hughes R C Adams D J Hughes
Independent Examiner
J E Payne ACA Graham Paul Limited Court House Court Road Bridgend CF31 1BE
Solicitors
Redkite Solicitors David & Snape Oldcastle Offices South Street Bridgend
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Barclays Bank Plc Dunraven Place Bridgend
Approved by order of the board of trustees on 6 July 2022 and signed on its behalf by:
D Edwards (Chairman) - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRIDGEND MASONIC LODGES CHARITABLE TRUST
Independent examiner's report to the trustees of Bridgend Masonic Lodges Charitable Trust
I report to the charity trustees on my examination of the accounts of Bridgend Masonic Lodges Charitable Trust (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 Trust 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 applicable 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.
J E Payne ACA Graham Paul Limited Court House Court Road Bridgend CF31 1BE
6 July 2022
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 106,335 Investment income 2 452 Other income 8,020 Total 114,807 EXPENDITURE ON Raising funds 3 - Charitable activities Gifts to institutions 3,140 Support costs 65,918 Total 69,058 NET INCOME/(EXPENDITURE) 45,749 RECONCILIATION OF FUNDS Total funds brought forward 82,965 TOTAL FUNDS CARRIED FORWARD 128,714 |
Restricted funds £ - - - - - - 5,473 5,473 (5,473) 93,005 87,532 |
2021 Total funds £ 106,335 452 8,020 114,807 - 3,140 71,391 74,531 40,276 175,970 216,246 |
2020 Total funds £ 46,121 450 7,501 |
|---|---|---|---|
| 54,072 132 2,850 42,791 |
|||
| 45,773 | |||
| 8,299 167,671 |
|||
| 175,970 |
The notes form part of these financial statements
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
BALANCE SHEET 31 DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Prepayments and accrued income Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 10 NET ASSETS FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
2021 £ 253,293 7 253,300 1,427 5,872 25,421 32,720 (8,819) 23,901 277,201 (60,955) 216,246 128,714 87,532 216,246 |
2020 £ 101,368 7 101,375 - 230 75,967 76,197 (1,602) 74,595 175,970 - 175,970 82,965 93,005 175,970 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 6 July 2022 and were signed on its behalf by:
D Edwards (Chairman) - Trustee
The notes form part of these financial statements
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BRIDGEND MASONIC LODGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Donations payable are paid at the discretion of the trustees.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost Fixtures and fittings - 15% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are amounts which have been set aside at the discretion of the trustees for a specific, but not legally binding, purpose.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Government grants
The company was in receipt of a £8,020 (2020: £7,501) grant during the year which is recognised on the performance model basis.
Grants that do not impose specified future performance-related conditions are recognised as income when the grant proceeds are received or receivable.
continued...
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BRIDGEND MASONIC LODGES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES - continued
Government grants
Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met.
Grants received before the revenue recognition criteria are satisfied are recognised as a liability.
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| Deposit account interest RAISING FUNDS Raising donations and legacies Support costs |
2021 £ 452 2021 £ - |
2020 £ 450 |
| 2020 £ 132 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Administrative staff No employees received emoluments in excess of £60,000. There were no high paid employees in the year. |
2021 3 |
2020 1 |
|---|---|---|
continued...
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 6. TANGIBLE FIXED ASSETS Improvements to property £ COST At 1 January 2021 120,448 Additions 153,222 At 31 December 2021 273,670 DEPRECIATION At 1 January 2021 29,163 Charge for year 5,473 At 31 December 2021 34,636 NET BOOK VALUE At 31 December 2021 239,034 At 31 December 2020 91,285 7. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Fixtures and fittings Totals £ £ 58,100 178,548 5,689 158,911 63,789 337,459 48,017 77,180 1,513 6,986 49,530 84,166 14,259 253,293 10,083 101,368 Shares in group undertakings £ 7 7 7 |
|---|---|
There were no investment assets outside the UK.
The investments represent 100% of shares in the Square and Compasses Bar Limited.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Amount owed by subsidiary | 1,427 | - |
continued...
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 11) Other creditors 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling due between two and five years: Bank loans - 2-5 years 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund funds £ £ Fixed assets 173,700 79,593 Investments 7 - Current assets 24,781 7,939 Current liabilities (8,819) - Long term liabilities (60,955) - 128,714 87,532 |
2021 £ 7,236 1,583 8,819 2021 £ 60,955 2021 £ 7,236 60,955 2021 Total funds £ 253,293 7 32,720 (8,819) (60,955) 216,246 |
2020 £ - 1,602 1,602 2020 £ - 2020 £ - - 2020 Total funds £ 101,368 7 76,197 (1,602) - 175,970 |
|---|---|---|
continued...
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 13. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Seven Lodges Building Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Building Fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Seven Lodges Building Fund TOTAL FUNDS |
At 1.1.21 £ 82,965 3,500 89,505 93,005 175,970 Incoming resources £ 114,807 - 114,807 At 1.1.20 £ 72,257 3,500 91,914 95,414 167,671 |
Net movement At in funds 31.12.21 £ £ 45,749 128,714 - 3,500 (5,473) 84,032 (5,473) 87,532 40,276 216,246 Resources Movement expended in funds £ £ (69,058) 45,749 (5,473) (5,473) (74,531) 40,276 Net movement At in funds 31.12.20 £ £ 10,708 82,965 - 3,500 (2,409) 89,505 (2,409) 93,005 8,299 175,970 |
|---|---|---|
continued...
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BRIDGEND MASONIC LODGES CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 54,072 | (43,364) | 10,708 |
| Restricted funds | |||
| Building Fund | - | (2,409) | (2,409) |
| TOTAL FUNDS | 54,072 | (45,773) | 8,299 |
The building fund was set up to improve the existing building for the use by the charity.
The Seven Lodges fund relates to donations from Seven Lodges which was required on the formation of the charity.
14. RELATED PARTY DISCLOSURES
During the year the charity received a donation from its subsidiary Square and Compasses Bar Ltd of £1,427 (2020 - £nil).
The nil donation from the Square and Compasses Bar Ltd. in 2020 was due to the closure of the bar from 1st April 2020 to 31st December 2020 due to the restrictions placed on the hospitality trade by the Welsh Government because of Covid-19.
15. ULTIMATE CONTROLLING PARTY
The charity is controlled by its trustees.
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