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← The Bridgend Masonic Lodges Charitable Trust

2024-12-31-accounts

REGISTERED CHARITY NUMBER: 515337

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024

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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
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BRIDGEND MASONIC LODGES CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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.

FINANCIAL REVIEW

Financial position

Net income for the year amounted to £22,451 (2023 - £15,713) The balance of reserves as at 31 December 2024 was £282,719 (2023 - £260,268).

Investment policy and objectives

To invest in:

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;

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 2024

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

D Edwards (Chairman) J D Hughes R C Adams K G Edwards P A Aubrey

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 2024

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

Barclays Bank Plc Dunraven Place Bridgend

Approved by order of the board of trustees on 13 May 2025 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 2024.

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:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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

13 May 2025

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BRIDGEND MASONIC LODGES CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
105,325
Other income
40,000
Total
145,325
EXPENDITURE ON
Charitable activities
Gifts to institutions
4,271
Support costs
71,870
Other
2
860
Total
77,001
NET INCOME/(EXPENDITURE)
68,324
RECONCILIATION OF FUNDS
Total funds brought forward
184,479
TOTAL FUNDS CARRIED FORWARD
252,803		 Restricted
funds
£
-
-
-
-
5,873
-
5,873
(5,873)
75,789
69,916		 2024
Total
funds
£
105,325
40,000
145,325
4,271
77,743
860
82,874
62,451
260,268
322,719		 2023
Total
funds
£
90,245
-
90,245
2,271
69,930
2,331
74,532
15,713
244,555
260,268

The notes form part of these financial statements

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BRIDGEND MASONIC LODGES CHARITABLE TRUST

BALANCE SHEET 31 DECEMBER 2024

Notes
FIXED ASSETS
Tangible assets
5
Investments
6
CURRENT ASSETS
Debtors
7
Prepayments and accrued income
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
9
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2024
£
251,825
7
251,832
25,815
4,277
55,450
85,542
(4,173)
81,369
333,201
(10,482)
322,719
252,803
69,916
322,719		 2023
£
259,568
7
259,575
18,769
938
42,510
62,217
(6,678)
55,539
315,114
(54,846)
260,268
184,479
75,789
260,268

The financial statements were approved by the Board of Trustees and authorised for issue on 13 May 2025 and were signed on its behalf by:

D Edwards (Chairman) - Trustee

The notes form part of these financial statements

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

BRIDGEND MASONIC LODGES CHARITABLE TRUST

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.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

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BRIDGEND MASONIC LODGES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

2. OTHER

OTHER
Interest payable and similar charges
Support costs		 2024
£
860
77,743
78,603		 2023
£
2,331
69,930
72,261

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

4. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2024
£
16,100
-
231
16,331		 2023
£
17,353
497
476
18,326

The average monthly number of employees during the year was as follows:

2024 2023
Administrative staff 2 1

No employees received emoluments in excess of £60,000.

There were no high paid employees in the year.

continued...

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BRIDGEND MASONIC LODGES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS

6.

Improvements
to
property
£
COST
At 1 January 2024 and 31 December 2024
293,482
DEPRECIATION
At 1 January 2024
46,379
Charge for year
5,873
At 31 December 2024
52,252
NET BOOK VALUE
At 31 December 2024
241,230
At 31 December 2023
247,103
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2024 and 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Fixtures
and
fittings
Totals
£
£
66,783
360,265
54,318
100,697
1,870
7,743
56,188
108,440
10,595
251,825
12,465
259,568
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.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024 2023
£ £
Amount owed by subsidiary 25,815 18,769

continued...

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BRIDGEND MASONIC LODGES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 10)
Other creditors
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 10)
10.
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
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
11.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
170,036
81,789
Investments
7
-
Current assets
97,415
(11,873)
Current liabilities
(4,173)
-
Long term liabilities
(10,482)
-
252,803
69,916		 2024
£
2,512
1,661
4,173
2024
£
10,482
2024
£
2,512
10,482
-
2024
Total
funds
£
251,825
7
85,542
(4,173)
(10,482)
322,719		 2023
£
5,137
1,541
6,678
2023
£
54,846
2023
£
5,137
29,167
25,679
2023
Total
funds
£
259,568
7
62,217
(6,678)
(54,846)
260,268

continued...

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BRIDGEND MASONIC LODGES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

12. 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 1.1.24
£
184,479
3,500
72,289
75,789
260,268
Incoming
resources
£
145,325
-
145,325
At 1.1.23
£
162,893
3,500
78,162
81,662
244,555		 Net
movement
At
in funds
31.12.24
£
£
68,324
252,803
-
3,500
(5,873)
66,416
(5,873)
69,916
62,451
322,719
Resources
Movement
expended
in funds
£
£
(77,001)
68,324
(5,873)
(5,873)
(82,874)
62,451
Net
movement
At
in funds
31.12.23
£
£
21,586
184,479
-
3,500
(5,873)
72,289
(5,873)
75,789
15,713
260,268

continued...

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BRIDGEND MASONIC LODGES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

12. 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 90,245 (68,659) 21,586
Restricted funds
Building Fund - (5,873) (5,873)
TOTAL FUNDS 90,245 (74,532) 15,713

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.

13. RELATED PARTY DISCLOSURES

During the year the charity received a donation from its subsidiary Square and Compasses Bar Ltd of £25,815 (2023 - £18,769).

14. ULTIMATE CONTROLLING PARTY

The charity is controlled by its trustees.

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