Page 1 Belfast Masonic Charity Fund Annual Report of the Trustees and General Commlttee Year Ended 31 Decomber 2022 The Trustees and General Committee have pleasure in presenting their report and unaudited financial statements of the charity for the year ended 31 December 2022. The Trustees and General Committee have adopted the provision5 of the Statement of Recommended Practice (SORP) °Accounting and Reporting by Charilies" (FRS 102) in preparing the annual port and financial stalements of th8 charity. The financial statements have been prepared in accordance with the accounting polici8S Set out in notes lo the financial statements and comply with the charity's govemlng document, Ihe Charities Act {Northern Ireland) 2008, Charities Act (Morthern Ireland) 2013, the Charities (Accounts and Reports) Regulations (Northern Ireland) 201 S, Accountlng and Reportlng by Charfties: Statement of Recommended Practice applicable to charities preparlng thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Issued In October 2019, the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) and UK Generally Accepted Accounting Practice. Trustees of tho ¢harlty The trustees who have served durlng th8 year werè as follows: Bro M Cleland Bro H Bottomley Bro S Nicholson Bro J Morrow Charity rèf•r•n¢• and admlnlstratlvo dotalls Charity registraiion number,. 102661 Registered office: 49 Main Street, Ballyclare, BT39 9AA Independent examiner GMCG, Chartered Accountants & Registered Auditor, Alfred House, 19 Alfred Street, Belfast, BT2 8EQ Hewitt & Gilpin, 8 High Street, Holywood. BT18 9AZ Danske Bank. PO Box 183, Donegall Square Wesl. Belfasi. BT16JS Quilter Chevlot Limlted, Montgomery House, 29-33 Montgomery Street, Belfast, BT14NX Sollcllor: Bankers,. Investment managers; Objectlves and actlvltlés The objects of the Fund shall be deemed to afford assistance to needy, deser¥lng, destitute, or Indigent Freemasons or their families or Ihe d8pendants of deceased Freemasons by grant5 of money or other such means as Ihe General Commltlee may find best sulted to the needs of the applicants. Public benefits The provisions of benefits to achieving the purpose of Ihe Trust's objectives as follows: To provide and afford in necessitOUS Gircumstances. financlal assistance by means of grants of monies to eligible Freemason5 or their families (wives. civil partners, sons. daughters, grandchildren) to include the dependanls (widow, civil p8rtner, molher. daughters. sons, grandchildren) of deceased Freemasons for the relief of poverty and social exclusion" What the Trust does: The Trust affords assistance to needy Freemasons or thelr families or the dependants of deceased Freemasons by grant of money or such other means as may be best suiled lo the needs of the applicants. Publlc benefit statement The trustees of Belfasl Masonlc Charlty Fund confirm that they have had due regard for the guidance on Publlc Benefit by the Charity Commission for Northern Ireland and a pleased to report that during 2022 the charty has continued to provide Public Benefits through financial and other means of assistance.
Page 2 Belfast Masonic Charity Fund Annual Report of the Trustees and General Commlttee (contlnued) Yoar Ended 31 Decembor 2022 Achlevement8 and performance Total income for the year was £81,077 (2021: £22,359). Totsl expenditure for the year amounted to £60,929 (2021: £46,4g7). Investments are held by Qullter Cheviol as discretionary nominees. There has been a loss of £30,738 (2021: gain £33.656) on disposals and revaluation of investment assets. The net expenditu for the year amounted to £10,590 (2021: net income £9,518). The Trustees and General Committee sincerely thank the donors for their past support and wlll report in due course on any changes to the investment strategy or asset slructure as necessary, to continue their 'duty of care. and to fulfil their obligations in respect of the underlylng assets. The Trustees and General Committee consider that the charty is in a satisfactory position to carry on its charitable acts'vities. Flnanclal rev1 (Includlng ragervu pollcy) Rosorves pollcy It is the policy of the charity to maintain free reserves which matches Ihe needs of the furKI. both at the current time an(1 in the foreseeable future. This provides sufficient funds to cover running cosls whlch include management, administration and support costs. Free reserves are those unrestricted resepies not designated nor invested in fixed assels which are available for general use. As at 31 December 2022 the charity has total funds of £318,175 (2021: £328,765) which are all unrestricted funds. Fundlng The principal funding is from subscriptions, donations and investments. Plans for futurè periods The Trustees and General Commlttee plan to continue to provlde financial assistance and support to brethren or thelr families in need under the terms of Ihe rules of the Fund. The merger of the fund with Belfast Masonic Wldows Fund remalns under review. Structure• govarnanco and management Governin cumen The fund which was established In 1862, Is governed by a constitution, and is registered as a charity with The Charity Commission for Northem Ireland from 221 Seplember 2015. Recruitment a ointment induction and tralnln The present General Committee has been involved in the charity for a number of years and so are familiar with its vrfork, The General Committee regularly review the requlrements of Ihe charlty and the possibility of a need for additional trustees or members of the managemenl committee. Any new trustees or members of the Management Committee would be elected by the General Committee. Appropriate training and induction Is available to all Irustees and members of Ihe Mana9ement Committee. anisational structure and related rties There are 3 trustees and a Management Committee. Joint Management Committee meetings are held with the Belfast Masonic Widows. Fund.
Page 3 Belfast Masonlc Charlty Fund Annual Report of the Trustees and General Committee (continued) Year Ended 31 December 2022 Structure, governance and management (contlnued) Risk mana ement The Trustees and General Commlttee have assesse(I the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate an exposure to major risks. Where appropriate, systems or proce(luS have been established to mitigale Ihe risks the charily faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are In place to ensure compliance with health and safety of officers, volunteers and applicants. These procedures are periodically reviewed at least annually to ensure that they continue to meet the needs of the charity. Tru8lees' and General Commltt••'8 résponslblllt108 The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable 18w and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo Charities in Northern Ireland requires the Trustees to prepare financial statements for each financial year which glve 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: select suitable accounting policies and then apply them consislently: obseNe the methods and principles in Ihe Charities SORP 2019 (FRS 102) make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basls unless It Is Inapproprlale to presume that the charty will continue in operation, The Trustees and General Committee are ffjsponsible for keeping proper accounting records which disclose with reasonable auraCY al any tlme the financial position of Ihe charity and which enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention arKI detection of fraud and other irregularities.
Page 4 Belfast ljlasonlc Charlty Fund Annual Report of the Truste08 and General Commltt•e (contlnued) Year Endèd 310èc•mb6r 2022 Th8 Truslees and General Commtitee are responsble for the malnt¢nance and inlegrity of the charity and financial inlormalion incIled on the charity's websile. Legi818lion In the United KiNddom govemlng the preparatlon disseminalion of finalbal statements may differ from gIslatIon in oiher jurisdiclions. On b8half ol th8 Trustees and G8neral Commlttee Fl Botlomley Trusteè D8t•'.