BELFAST MASONIC WIDOWS, FUND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charity registration number: 102661
Belfast Masonlc Widow3, Fund Flnancial Statements Year Ended 31 Docembor 2024 Content8 Page Annual Report of the Trustees and General Committee Independenl Examlner's Report Statement of Financlal Activitles Balance She8t Stalement of Cash Flows Notes to the Financial Statements
Belfast Masonlc Wldows. Fund Page 1 Annual Report of the Trustees and General Committee Year Ended 31 December 2024 The Trustees and General Committee have pleasure in presenting thelr port and the unaudited financial statements of the charity for the year ended 31 December 2024. The Trustees and General Committee have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities. (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared In accordance wlth the accounting policies set out in notes to the financlal statements and comply with the charily's governing document, the Charities Acl (Northern Ireland) 2008, Charlties Act {Northern Ireland) 2013, the Charitie5 (Accounts and Reports) Regulatlons (Northern Ireland) 2015. Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charlties preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland issued In October 2019. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and UK Gen8rally Accepted Accounting Practice. Trustees of the charlty The trustees who have served during the year were as follows: Bro M Cleland Bro H Bottomley Bro S Nicholson Bro J Morrow Charlty rnference and admlnl8tratlve detalls Charity registration number: 102861 Reglstered office: 49 Main Street, 82llyclare, BT39 9AA Independent examiner GMCG, Chartered Accountants & Registered Audltor, Alfred House, 19 Alfred Street, Belfast, B T2 8EQ Hewitt & Gilpin. 8 High Street, Holywood, BT18 gAZ AIB, 11115 Donegall Square North, Belfast, BT15GB Evelyn Partners, The Ewart, 3 Bedford Street. Belfasl, 8T2 7EP Sollcltor.. Bankers: Investment managers.. ObJ•ctlve8 and actlvftles The objects of the Fund shall be deemed to afford assistance to needy, deserving, destitute, or indigent Freemasons or their famllles or the dependanls of deceased Freemasons by grants of money or other such means as the General Committee may find best suited to the needs of the appllcants. Publlc bengflts The provislons of benefits to achieving the purpose of the Trust's objectives as follows: To provide and afford In necessitous circumstarlces, financial asslstance by means of grants of monies to eligible Freemasons or their families (wives, civil partners. sons. daughters, grandchlldren) to include the dependants (wldow. clvll partner, mother, daughters, sons, grandchildren) of deceased Freemasons for Ihe relief of povety and social exdusion; What the Trust does: The Trust affords assistance to needy Freemasons or their familles or the dependants of deceased Freemasons by grant of money or such other means 85 may be best suited to the needs of the applicants. Publlc benoflt statement The Trustees and General Committee of Belfast Masonlc Widows, Fund confirm that they have had due regard for the guidance on Publlc 8en8fit by the Charity Commission for Northern Ireland and a pleased to report that during 2024 the charlty has continued to provide Public Benefits through financial and other means of assistance.
Belfast Masonlc Widows, Fund Page 2 Annual Report of thè Trustoos and General Committee (continued) Year Ended 31 December 2024 Achiovemonts and perfornian¢6 Total income for the year was £82,123 (2023: £62.770). Investments a held by Evelyn Brothers as discretionary nominees. There has been a loss of £10.094 (2023.. £2,514 galn) on disposals and revaluation of investment assets. Total expenditure for the year amounteil to £56,403 (2023: £62,187). The net income for the year amounted to £16,626 {2023: net income £3,097). The Trustees and General Committee will report in due course on any changes to the Investment strategy or asset structure as necessary, to conlinue their 'duty of car8, and to fulfil their obligallons in respect of the underlying assets. Flnanclal revlew (Includlng rnserves policy) Resorv08 poIIcy It Is the policy of the charity to maintain free reserves which matches Ihe needs of Ihe fund, both at the current time and in the foreseeable future, This provides SUfflent funds to cover running costs which include management, administration and support costs. Free resepies are those unrestricted reserves not designated nor Invested in fixed assets which are available for general use. As at 31 December 2024, the charity has tolal funds of £1,257,425 (2023.. £1.240.799) of which endowment funds are £1,135,787 (2023: £1,071,335) and unrestrlcted funds are £121,638 (2023.. £169,464). Fundlng The Fund was not actively seeklng subscriplions and donations, and fundlng was prSmarlly from investment Income. Plan$ for futur• p•rlods The Trustees and General Committee plan to continue to provlde financlal assistance and support lo brethren or their familles in need under the temis of the rules of the Fund. The merger of the fund wlth Belfast Masonic Charity Fund remalns under review. Structure, governance and managom•nt overnin ocument The Fund whlch was establlshed in 1873, is governed by a constltullon, and is registered as a charity wlth The Charity Commisslon for Northern Ireland from 111 June 2015. Itment a ointment Ind ctlon and tr Inln The present General Committee has been involved in the charity for a number of years and so are famlllar with its work. The General Commitlee regularly review the requirements of the charity and the possibility of a need for additional trustees or members of the management commlttee. Any new trustees or members of the Management Committee would be elected by the General Committee. Appropriate trainlng and Induction Is available to all trustees and members of th8 Management Committee. anisation I structure an related rties There are 4 trustees and a Management Committee. Joint Management Committee meetings are held with the Belfast Masonic Charity Fund, Risk mana ement The Trustees and General Committee have assessed the major risks to which the charity is exposed. In particular those related to the operatlons and finances of the charity and are satlsfied that systems are in place to mitigate an exposure to major risks. Where appropriate. systems or procedures have been establlshed to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for aulhorisation of all Iransactions and projects. Procedures are in place lo ensure compliance wlth health and safety of officers, volunteers and applicants. These procedures are perlodically reviewed al least annually to ensure that they continue to meet the needs of Ihe charity.
B•lf8•t Masonic Widows. Fund Page 3 Annual Report of the Truste•8 and Genoral Committ00 Icontlnued) Year Ended 310ecemhr 2024 Tru8l•as' and Ggn•ral CommlttM'¥ rospon$lbllltl•¥ It Is the responslbillty of the Honorary Treasurer. at the behest of the Truste•s, to prepare financial statemenls in aCCordar with applicable I• and United Kin9dorn Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice). The law appllcable to charitie3 in Northern Ireland requires the trustees to prepare financial statemenls for each financlal yèar which give a true ands fair view of the state of affairs ol the charfty and of the Incorning resources and application of resources of thè charity for that period. In preparing these financial statemonls, the trusiees are required to.. select suitable accounting Policies and then apply ihem con8lStentSy', obserée the methods and piinciples In the Charilies SORP 2019 (FRS 1021., make Judgements and estimates that are reasonable and prudent; gtate whether gpplicablg accounling standards hav• b•en followed, gubiect to any material departures dlsclosed and explained in the financial staternnts; and prepare the financial statemenls on the going concem ba61s unless It is Inappropriate io presume that the charity will contlnue in operatlon. The Truste8$ and General Committee are responslble for keeping propef accounting records that disclos• with reasonab18 accuracy at any time Ihe financial position ol the eharity and enable them to ensure thal Ihe fmanck41 statements comply with the Charilles Act (Northern Ireland) 2008, the Charities {Accounts and Reports) Regulations (Northern Iroland) 201 S and the provisions of the Irust deed. They are atso responsible fol safeguardin9 the assets of the charity and hence for taking reasonable steps lor the prevention and detection of fraud and olhef Irregularitt•S. The Trustees and Gen8ral Cornmittee are responsible for the maintenance and integrity of the charity 8nd financial Inforrn81ion included on the charity'8 website Legislation in the United Kingdom governing the preparalion dissemination of financial statements may drtr from legislation in olherluriJdi¢iions. On behalf of the Trustees and General Committee J Mo((ow Tiusiee offl4 FoTr<
Belfast Masonlc Widows, Fund Page 4 Independent Examlner's report to the Trustees of Belfast Masonic Wldows, Fund Year Ended 31 Docember 2024 I report on the accounts of the charity for the year ended 31 St December 2024 which are set out on pages S to 17. Respectlve responslbilltles of trustees and examlner As the charily's trustees you are responsible for the preparation of the accounts in accordance wlth the Charities Act (Northern Ireland) 2008. It Is my responslbility lo: examine the accounts under section 65 of Ihe Charlties Act; follow the procedures lald down In the general Directions given by the Charily Commlssion for Northern Ireland urKler section 65(gxb) of the Charities Act,. and state whether particular matters have come to my attention. Basls of Indepondont examlnerfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charltles Act. My examlnation included a review of the accounting records kept by the charity and a cornparlson of the accounts presented wlth those records. It also induded consideration of any unusual items or disclosures in the accounts and seeking explanatlons from you as oharity trustees concerning any such matters. My role is to state whether any materlal matters have come to my attention glvlng me cause to believe: 1. That accounting records were not kept in accordance with section 63 of the Charlties Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply wlth the accounting requlrements of the Charities Act 4. That there Ss furthar Informalion needed for a proper understanding of the accounts to be reached. Independ•nt examlnerf8 Stat•m•nt I have completed my examination and have no concerns In respect of the matters (1) to (4) Ilsted above and, In connection with followlng the Directions of Ihe Charlty Commlssion for Northem Ireland, I have found no matlers that require drawlng to your attention. B.J. Friar (In Chartered Acco ndent Examiner) nls Ireland Alfred House 19 Alfred Street Belfast BT2 8EQ For and on behalf of GMCG Chartered Accountants & Statutory Auditors Date: )f44 fihl fvF<
Belfast Masonic Widows. Fund Page 5 Statement of Financial Actlvities Year Ended 31 Docember 2024 Unrestrfcted Endowment funds funds 2024 Total 2023 Total Nole In¢om• and endowmentg from: Donations and legacies Investments Other 9,015 56.632 16,876 9,61 S 56,632 18,876 7,248 55,522 Total 5ncome and frndowments 83.123 83,123 62,770 Expondlture on: Investment management costs Charitable aGtlvlties Other 7,214 47,389 1,800 7,214 47,389 1,800 7.843 52,544 1,800 Total •xp•ndltur• 56,403 56,403 62.187 Net Income bofor• gains l (108883) on Inv¢stm•nt8 26.720 26,720 583 Net (lossygain on Investrnents 10 (10,094) (10,094) 2,514 N•t InMmo 26,720 {10,094) 16,626 3,097 Transfer bthoen funds (74.546) 74.$46 N•t mov•m•nt In fund8 15116 (47,826) 64,452 16,626 3,097 R•con¢lllatlon of funds: Total funds brought forward 1S116 169,464 1,071,335 1,240,799 1,237,702 Total fund8 carrled forward 15116 121,638 1,135,787 1,257,425 1,240,799 All income 2nd expenditure derive from contlnuing activities.
B•lfast Ma$onlc Wld¢)ws' Fund Page 6 Balance Sheet 31 D•mber 2024 2024 2023 Note Flx•d a890ts Investments 12 1,135,787 1,161.911 1,135,787 1,161.911 Current a880ts Deblors Cash at bank and in hand 13 25,394 100,044 11,225 78,663 125A38 89.888 Cr•dftorn: amounts falllng du• wlthln on• y•ar 14 13,800) (11,000) N•t current a$J•t• 121.638 78,888 Net a8s•ts 1,267,425 1,240,799 Charlty Funds Endowment funds Permanent endowmenl Unrestrlcted funds 18 15 1,135,787 121,638 1,071,335 169.464 Total ch•rbty fund8 1357,426 1,240,799 The fi ncial 3talemenls we 4•4....O.t).l.. approved and aulhorlsed for i$$ue by the Trustees and General Committee and are signed on their behalf by. J Morrow Trustee Ison Truslee
Belfast Masonlc Widows, Fund Page 7 Statement of Cash Flows Year Ended 31 December 2024 2024 2023 Note Cash flow from operatlng actlvlll•s 17 (51,2811 (53,195) Not cash flow from operating a¢tlvltle8 (51,281) (53,195) Cash flow from Investlng actlvltles Payments to acquire Investments Payments to acquire investment property Recelpts from sales of Investments Rental income Dividends and flxed interest received (67,018) (2,990) 86,038 19,000 37,632 (34,038) {73,071) 114,171 18.100 37.422 Net ca8h flow from Investlng actlvltlos 72,662 62,584 Net Incr8a8• In cash and ca8h equlval•nts 21,381 9,839 Cash and cash •quSvalents at 1 January 2024 78,663 89,274 Cash and cash •qulvalènt8 at 31 Docembor 2024 100,044 78.663
Belfast Masonic Widows, Fund Page 8 Notes to tho Financial Statements Year Ended 31 Dècember 2024 Summary of signlflcanl accountlng pollcle8 (a) General Infomatlon and ba8ls of prèparatlon Belfast Masonic Widows, Fund was established in 1873, is govemed by a constitution dated April 1986, and is recognised as a charity by The Charity Commission for Northern Ire18nd. The address of the reglstered office is given in the charlly infomation on page 1 of these financial statements. The nature of the charity's operations and principal activities are deemed to be affording assistance to needy, deserrflng, deslitute. or indigent Freemasons or their families or the dependanls of deceased Freemasons by gr8nts of money or other such means as the General Commitlee may find best suited lo the needs of the applicants. The charity constitutes a public benefit entity as defined by FRS 102. Statemenl of Com liance The financial statements have been prepared in accordance wlth appllcable accountlng standar(Is, Accounting and Reportlng by Charities.. Statement of Recommended Praclice applicable to charilles preparlng their accounts in accordance with the Flnancial Reportlng Standard applicable in the UK and Republlc of Ireland issued in October 201g, the Financial Reporting Standard applicable in the Unlled Kingdom and Republic of Ireland (FRS 102), the Charltles Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulatlons (Northern Ireland) 2015 and UK Generally Accepted Accounting Pracllc8. The financlal statements are prepared on a golng concem basis under the hlstorlcal cost convention, modrfied to include certain items at fair value. The financial statements are prepared in sterling whlch Is the functlonal currency of the charity and rounded to the nearest £. The significant accounting policies applied in Ihe preparatlon of these financlal statements are set out below. These policies have been consistently applied to all years presented unless otheThvlse staled. (b) Fund8 Unrestricted funds are available for use ai the dlscretion of the trustees In furtherance of the general objectives of the Charity and which have not been designated for other purposes. End0Yent funds rePsent those assets whlch must be held permanently by the charity, principally as fixed asset investments. Income arising on the endowment funds can be used In accordance with th8 objects of the charity and Is include(l as unrestricled income. Any capital gains or losses arising on the Investments form part of the fund.
Page 9 Belfast Masonlc Widow8. Fund Notos to the Financial Statements (contlnued) Year Ended 31 Dècember 2024 Summary of slgnlflcant accountlng pollcles (contlnued) (c) Income recognltlon All income is included in the Statement of Financial Aclrvities (SOFA) when Ihe charity is legally entitled to the income after any performance conditions have been met, the amount can be measured rellably and it is probable that the Income will be received. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. For legacies. entitlement Ss the earlier of the charity being notified of an impending dlstribution or the legacy being received. At this polnt income is recognised. On occasion legacies will be notifie(J to the charity however it is not posslbla to measure the amount expected to be distributed. On Ihese occasions, the legacy is treated as a contlngent asset and disclosed. Investment income is earned through holding assets for Investment purposes such as shares. It Sncludes dividends and interest. Where rt is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It Is included when Ihe amount can be rneasured rellably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity's right to receive payment Is established. {d) Exp•ndlture r¢¢ognltlon All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expendlture is recognlsed where there is a legal or constructive obligation to make payments to thlrd parties, it is probable that the settlament will be requlred and the amount of the obligation can be measured reliably. It Is categorised under the followlng headings: Expenditure on charitable actlvltles includes activities undertaken dIrelY and related support cosls: and Olher expendlture represents Ihose items not falllng Into the categories above. Granls payable to third parties are withln the charltable objectives. {•) Support costs allocatlon Support Costs are those that assist the Vrk of Ihe charity bul do not directly represent charitable aclivilies and include office costs. governance costs and adminlslralive payroll Cosls. They are incurred dlr8cUy in support of expendlture on the objects of the charity. (fj Investments Investments are recognlsed initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognlsed in 'net gains I (losses) on inveslment5' in the SOFA if the shares are publlcly traded or their falr value can otherwise be measure(I reliably. Other Investments are measured at cost less impairment. Investment properties are measured at fair value at each reporting date with changes in fair value recognlsed in 'net gains l (losses) on investments, in the SOFA. Current asset investments are short term highly liquid Investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less Ihan one year.
Page 10 Belfast Masonic Widows, Fund Notes to the Flnanclal Statements (contlnued) Year Endod 31 December 2024 Summary of slgnlflcant accountlng pollcles {¢ontlnued) (g) D•blors and cr•ditors re1vable I payabl• wlthln on• year Debtors and creditors with no stated interest rate and recelvable or payable wilhin one year are recorded at transactlon price. Any losses arising from impairment are recognised in expenditure. (h) Impalmient Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date, If such indication exists, the recoverable amount of the assel. or the asset's Cash generaling unlt. is estimated and compared to the carrylng amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised In the SOFA unless the asset is carried al a revalued amount where the Impairment loss is a revaluatlon decrease. (l) Lea808 Rentals payable and receivable under operating lease3 are charged to the SOFA on a slraight Ilne basis over the period of the lease. U) Tax The charity Is a registered charity, and as such is entitled to certain tax exemplions on income and gains from inveslments, and surpluses on any Irading activities carried out in the furtherance of the Charity's primary objectives, rf these gains and surpluses are applled solely for charilable purposes. The charity is not reglstered for VAT and, accordingly, all thelr expenditure 18 induslve of any VAT incurred. (k) Golng conrArn The f7nancial statements have been prepared on a going concern basis as the trustees believe that no materlal uncertalntles exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these flnancial statements. The budgeted income and expenditure is sufficient wlth the level of reserves for the charlty to be able to continue as a going concern.
Page11 Bèlfast Masonic Widows, Fund Not08 to the Financlal Statements (¢ontlnu¢d) Year Ended 31 Dècemb•r 2024 Income from donatlons and lega¢les 2024 2023 Subscriptions and donations 9,615 7,248 Income from donations was £9,615 (2023: £7,248) and was attrlbutable to unrestrlcted funds. Incomo from Investmonts 2024 2023 Dlvidends and fixed interest Rental income 37,632 19,000 37,422 18,100 56,632 55.522 Income from Investments was £56,632 (2023: £55,522) and was attributable lo unreslricted funds. Other Income 2024 2023 Servlce charges recelvable 16.876 Other irKome was £16,876 {2023: £Nil) and was attrlbutable to unrestricted funds. Invostment management costs 2024 2023 Investment manager fee8 7,214 7,843 £7,214 (2023: £7,843) of the above costs were attribulable to unrestrlcted funds,
Pag8 12 Belfast Masonlc Widows. Fund Notes to tho Financial SLiternents (contlnued) Year Ended 31 December 2024 Analysi8 of expèndl¢ur• on charltable activltl¢8 Charltablo actlvltles 2024 Activities undertaken directly Support costs Total Financial assistance to needy Freemasons and their families 21,535 25,854 47,389 Charitable activities 2023 Acllvities undertaken directly Support costs Total Financial asslstance to needy Freemasons and their familles 29,590 22,954 52,544 £44,18212023: £52,544) of the above costs were attributable to unrestricted funds Analy818 of 8UPPOrt costs 2024 2023 Support costs OffKe administration costs Other 8,500 17,354 8,150 14,804 Total 25,854 22,954 Govèrnance cost8 2024 2023 Independent examiner 1,800 1,800 Analysls of grants 2024 2023 Grants individual Financial assistance to needy Freemasons and their families 21,535 29,590
Page 13 Belfast Masonlc Widows. Fund Notes to tho Financial Statements {con¢lnuedl Year Ended 31 December 2024 10 Net Income for the year Net Income Is stated after charging l (crediting),, 2024 2023 Realised {galn)Iloss on disposal of listed investments (1,494) (1,271) Unrealised {gainyloss on fair value movement of listed investments (2,704> (1.243) Unreallsed loss on fair value movement of investment property 14,292 11 Trustees, and key management personnel r•muneratlon and oxponseg The trustees nelther recelved nor waived any remuneralion during the year (2023,. £Nil). The key management personnel are consldered to be the trustees and management committee. The total amount of employee benefits received by key management personnel is £Nil (2023.. £Nil). 12 Fixed a8$0t Investments Investment Listed Property investments Total Valuatlon At 1 January 2024 Addltlons Disposals Revaluation 311,302 850,609 1,161,911 67,018 70,008 (84,544) (84,S44) 2,704 (11,588) (14,292) At 31 Decembor 2024 300,000 835.787 1,135,787 Impalmient At 1 January 2024 and 31 Decembor 2024 Carrylng amount: At 31 Decembor 2024 300.000 835,787 1,135,787 At 31 December 2023 311,302 850,609 1,161,911
Pag8 14 Belfast Masonlc Widows, Fund Notes to the Financlal Statemonts (contlnued) Year Ended 31 December 2024 12 FIX assèt Investments (contlnued) Inveslments at falr value compromise: 2024 2023 Equities ternative investments 8onds 609,617 123,375 102,795 835,787 581,513 192.200 76,896 850,609 The fair value of listed investments is determined by reference to the quoted price for Identical assets In an actlve market at the balance sheel date. Investment property is measured at market value at each reporting date. 13 D•btors 2024 2023 Other debtors 25,394 11,225 14 Credltors: amounts falllng due wlthln one year 2024 2023 Accruals 3,800 11,000
Pag8 15 Belfast Masonic Wldows, Fund Not88 to the Financlal Actlvltles {contlnued) Year Ended 31 Decomber 2024 15 Fund reconclllatlon Unrastrlcted funds Balance at 1 January 2024 Gains I Income Expendlture (losses) Balance at Transfers 31 Decèmber 2024 Unrestricted 169,464 83.123 {56,403) (74.546) 121.638 Balance at 1 January 2023 Gains I Income Expendltura (losses) Transfers Balance at 31 December 2023 Unrestricted 168,881 62,770 (62,187) 169,464 Unrestricted funds are available for use at the discretion of the trustees In furtherance of the general objectlves of the charity and whlch have not been designateil for olher purposes. Endowmènt fund8 Balance at 1 January 2024 Gains I Balance at (losses) Transfers 31 D•¢•mber 2024 Income Expendlture Endowmenl fund 1,071,335 (10,094) 74,548 1,135,787 Balance at 1 January 2023 Gains I Balance at (losses) Transfers 31 December 2023 Income Expenditure Endowment fund 1,068,821 2,514 1,071,335 Endowment funds represent those assels which must be held permanently by the charlty, principally as fixed asset Investments. Transfers £74,546 was transferred from unrestrlcted funds to endowment funds.
Page 16 Belfast Masonlc Widows, Fund Notss to the Financial Activitles {contlnued) Year Ended 31 December 2024 16 Analysi8 of net assets between funds Unresiricted Endowment funds funds 2024 Total Fixed asset investments Net current assets 1,135,787 1,135,787 121.638 121,638 Total 121,638 1,135,787 1,257,425 Unrestricted Endowment funds funds 2023 Total Fixed assets Net current assetsl(liabilities) 1,161,911 (90,576) 1,161.911 78.888 169,464 Total 169,464 1.071.335 1,240,799 17 Reconclllatlon of n•t Income to n•t cash flow from operatlng actlvltles 2024 2023 Net Income for year 18.826 3,097 Dividends and fixed Interest received Rental income Lossl(gain) on Investments (Increase) In debtors (Decrease) I Increase in creditors 137,632) (19,000> 10,094 (14,169) {7,200) {37,422) {18,100) (2,514) (56) 1.800 Net cash flow from operating activities {51,281) (53.195)
Pag& 17 Belfast Masonlc Widows, Fund Notes to the Financlal Actlvlties Icontlnued) Year Ended 31 December 2024 18 Related party tran8actlons Bellasl Masonic Charity Fund is deemed to be a related party as it is also under the control of the trustees. At the year-end 8elfast Masonic Charity Fund owed Belfast Ma8onic Widows, Fund £4,930 (2023: £7,800). 19 Ethl¢al Standard In common with many other charlties of our size and nature we use our independent examiner to prepare and submit returns to the tsx authorities and assist wth the preparallon of the financial statements.