Charity registration number NIC105903 RWM STRAIN MASONIC CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2023
RWM STRAIN MASONIC CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrA Pollock Mr J Van Hooijdonk Prof D T Burns Mr L Rossi Charity number NIC105903 Independent examiner Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Bankers Ulster Bank 91-93 University Road Belfast BT71NG Solicitors Cleaver Fulton Rankin 50 Bedford Street Belfast BT2 7FW
RWM STRAIN MASONIC CHARITABLE TRUST CONTENTS Page Trustee's report Independent examiner's report Statement of financial a¢tivities Statement of financial position Notes to the financial statements 6-10
RWM STRAIN MASONIC CHARITABLE TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED 5APRIL 2023 The Trustees present their annual report and financial statements for the year ended 5 April 2023. Dr. RWM Strain Masonic Charitable Trust is a charity. The Charity is registered with the Charity Commission in Northern Ireland and has the charity number NIC105903. Objectives and activities Policies and objectives In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity commission relating to public benefit. The Trust was established to promote and advance by charitable means.. The relief of poverty, hardship, sickness and distress amongst members of the Fraternity of Freemasons of the Irish Constitution within the area of benefit and the wives, widows, children and other remoter issue and dependents of such members. To further the education of any such persons who are in need of financial assistance by awarding scholarship exhibitions, bursars or by granting maintenance allowances tenable at any school, university or other educational establishment approved by the trustees. To assist such persons entry into a trade, profession or service or to setup in business. To assist any other Masonic charity connected with the Fraternity of Freemasons within the area of benefit. The trust was originally set up in 2001, when monies were bequeathed from the late Dr RWM Strain's estate to the Queen's University Masonic Lodge 533. Lodge 533 took the decision to set up a Trust and invest the monies. The charity ¢ontinues to derive its income from investments. b. Main activities undertaken to further the Charity's purposes for the public benefit The charity has a number of investments, the results of the gain on investments are used to make donations listed below in the Review of Activities. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. Achievements and performance Key performance indicators During the year the charity received income from investments which has increased from the income received in the prior year. b. Review of activities No donations were made during the year. Financlal review After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. The Trust at present has no policy on reserves, all income and expenditure are unrestricted. structure, governance and management Dr. RWM Strain Masonic Charitable Trust is a registered charity, number NIC105903, and is constituted under a Charity Commission Scheme. The principal object of the charity is to promote and advance the relief of poverty, hardship, sickness and distress amongst members ofthe Fraternity of Freemasons of the Constitution within the area of benefit and the wives, widows, Children and other remoter issue and dependents of such members.
RWM STRAIN MASONIC CHARITABLE TRUST TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 The Trustees who seNed during the year and up to the date of signature of the financial statements were: MrA Pollock Mr J Van Hooijdonk Prof D T Burns b. Methods of appointment or election of Trustees The management ofthe Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Charity Commission S¢heme. The power to appoint new trustees is vested in the Committee of General Purposes of the Queen's University of Belfast Masonic Lodge No. 533. Atrustee may retire by giving the other trustees one calendar month's notice in writing of his intention to do so. c. Financial risk management The Trustees have assessed 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 and procedures are in place to mitigate exposure to the major risks. The Trustee's report was app ved by the Board of Trustees. Mr J Van Hooijdonk Trustee 2 February 2
RWM STRAIN MASONIC CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RWM STRAIN MASONIC CHARITABLE TRUST I report to the Trustees on my examination of the financial statements of RWM Strain Masonic Charitable Trust (the Charity) for the year ended 5 April 2023. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 {the 2011 Act). I report in respect of my examination of the Charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the ¢harity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in a¢cordan with Generally Accepted Accounting Pra¢ti¢e effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have Come to my attention in connection with the examination giving me Gause to believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements ¢on¢erning 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 financial statements to be reached. P Miscampbell FCA Miscampbell & Co 6 Annadale Avenue Belfast BT7 3JH Dated.. 2 February 2024
RWM STRAIN MASONIC CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrestricted Unrestricted funds funds 2023 2022 Notes Income from: Investments 9,508 9,965 endi Charitable activities 4,188 9,094 Net gainsl(losses) on investments 56 Nat movement In funds 5,376 871 Fund balances at 6 April 2022 220,327 219,456 Fund balanc8s at 5 April 2023 225,703 220,327 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
RWM STRAIN MASONIC CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION AS AT 5 APRIL 2023 2023 2022 Notes Fixed assets Investmenls 10 196,776 197,974 Current assets Investments Cash at bank and in hand 11 28,440 4,297 20,301 4,329 32,737 (3,850) 24,630 (2,277) Current liabilities 12 Net current assets 28,887 22,353 Total assets less current liabilities 225,663 220,327 Income funds Unrestricted funds 225,663 220,327 225,663 220.327 The financial statements w re approved by the Trustees on 2 February 2024 Mr J Van Hooijdo Trustee
RWM STRAIN MASONIC CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accounting policies Dr. RWM Strain Masonic Charitable Trust is a charity. The charity is registered as a public benefit entity with the Charity Commission in Northern Ireland and has the charity number NIC105903. The registered office address and principal place of business is 111 Stockmans Lane, Belfast, BT9 7JE. The principal aclivity of the charity continued to be promoting the relief of poverty, hardship, sickness and distress amongst members of the Fraternity. 1.1 Accounting ¢onvention The financial statements have been prepared in accordance with the Charity's SORP {FRS 102), the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Statement ot Recommended Practice applicable to charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Pra¢tice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. Dr. RWM Strain Masonic Charitable Trust 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. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation thal the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going ¢onGern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. RestriGted ndS are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 1.4 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts Can be measured reliably, and it is probable that in¢ome will be received. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a Contingent asset.
RWM STRAIN MASONIC CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accounting policies (Continued} 1.5 Expenditure Expenditure is recognised once there is a legal or Constructive obligation to transfer e¢onorniG benefit to a third paty, 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 Classified by adivity. The costs of each activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Non-current Inveslments Fixed asset investments are initially measured at transaGtion price excluding transaction costs, and are subsequently measured at fair value at ea¢h reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at ¢all with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments disGounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
RWM STRAIN MASONIC CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accounting policies (Continued) Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. Critical accounting estimates and judgemants In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in Ihe period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Investments Unrestricted Unrestricted funds funds 2023 2022 Income from listed investments 9,508 9,965 Charitsble activities Charitable Charitable Expenditure Expenditure Heading 1 Heading 1 2023 2022 Share of support costs (see note 5) Share of governance costs (see note 5) 32 4,156 4,534 4,560 4,188 9,094
RWM STRAIN MASONIC CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Support costs Support Governance costs costs 2023 Support Governance costs costs 2022 Donations Bank charges 4,500 34 4,500 34 32 32 Legal and professional Accountancy fees Investment Management fees 144 1,540 144 1,540 1,680 1,680 2,476 2,476 2,876 2,876 32 4,156 4,188 4,534 4,560 9,094 Analysed beeen Charitable activities 32 4,156 4,188 4,534 4,560 9,094 Governance costs includes payments to the Independent Examiner of £1,680. {2022- £1,540) for examination of the Charity's annual accounts. Trustees None of the Trustees (or any persons ¢onne¢ted with them) received any remuneration or benefits from the Charity during the year. Employees 2023 Number 2022 Number There were no employees whose annual remuneration was more than £60,000. Net gainsl(losses) on investments Unrestricted funds Total 2023 2022 Revaluation of investments 56
RWM STRAIN MASONIC CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2023 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charilable objects. 10 Fixed asset investments Llsted investments Cost or valuation At 6 April 2022 Additions Valuation changes Disposals 197,974 4,345 56 (5,599) At 5 April 2023 196,776 Carrying amount At 05 April 2023 196,776 At 05 April 2022 197,974 Investments are valued at cost in the accounts. Evelyn Partners value the investment at £288,368 on 5 April 2023 (20221- £293,629). 11 Current asset investments 2023 2022 Listed investments 28,440 20,301 12 Current liabilities 2023 2022 Accruals and deferred income 3.810 2,277 13 Related party transactions There were no disclosable related party transactions during the year {2022- none). 10-