MASONIC ORPHANS, WELFARE COMMITTEE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEM8ER 2024 Charlty R•gl8lratlon Numbw: NIC 108248 HM R•vonuo & Cu•toms CharRy R•f•r•nc• Numb•r. Nl 01096
Masonlc Orphans, Welfar• Commltto? Year Ended 31 Drf•mbor 2024 Contents Admlnlstratfvo Dela18 Trustees, Report Independenl ExamlneI8 Report Statement of FlnarKlal Acllvilles BalarKe Sheet Noies to the FInala1 Statements 10
Ma80nlc Orphans, W•llar• Commltteo Admlnl8tratlw D•ta118 Year Ended 31 Doc•mr 2024 R•gl8t•r•d dmrlty nam• Ma80nlc Orphans, Wdfare Commlttee Charlty r•gl•lrallon Number NIC 108248 Tru•t• H E Boltoml8y R M Cleland W J Morrow A R Patterson O Walker Patron• R M Cldand D Wallace Honorary Tr•a•ur•r H E B¢Xl¢%mlty Honorary Secmtary D Walker Ind•p•nd•nt •xamln•r GMCG Bèlfast Ch&iered AcnIan1$ and Slalutw Audll(Ys Allred Hou8e 19 Allred Streèt Belfa8t 8T2 8EQ 8ank•r• Ulster Bank Llmlted 11-16 Donegal Sware EaBt 8elfast BT1 SU8 Inv••lmont manag•rd Evetyn Partnwj The Ewart 13th Floor 3 Bedford Square Bellasl 8T2 7EP Investec Wealth & Manag8m8nt (UK) 15th Floor Clly Quays 3 92 Don8gall Quay Belfast 8T13FE Page 1
Ma•onl¢ Orphans, W•lfar• Commltta• Truste Rowt Y•ar End•d 31 Dacomb•r 2024 Th8 Trustees hav• pleasure In pr68entlng ihelr report ar tho unaudited financlal 8tatem8nts the charlty lor ihe year ended 31 December 2024. The Trustees have adopted Ihe provlslons of Ihe Statement of Recommended Practicè {SORP) 'Accounting and Reporting by Charltles" (FRS 102) In pyeparing Ihe annual report and (Inanclal staiemenls of the tharlty. The tlnancid swements have been prèpared in occordan¢e wlth the 8c¢ountlng pollcles sd out In notes to the linancial staiemBnts and compty whh the thaflty's govomlng dlxumertt, Ihe Charitles Act (Northem Ireland) 2008, Charttlos (Northem Ireland) 2013. th6 Charitles {A¢counts and Report8) Reoulations (Northern Ireland) 2015, Accountlng and Reportlng by Charllle8: Stalement of Recommended Pradlr applicable to d)arilleB preping thelr accounts In aGcordanc& wlth the FInala{ Reportlng Standard applicable In the UK and Rèpublic of Ireland Issued in Oclober 2019, the Flnpjnclal Reportin9 Standard appllcable In the UK and Republlc of Ireland {FRS 102> and UK Generally Accepled Accountlng Practl¢e. TN•t••• Thé Iruste88 who have 5orv8d durlng the year and 8Snce tlkj year end re as folow8: H E Bottomloy R M Cleland W J Morrow A R Patter80n D waker Patrons The Patron8 who have served durtng the year and 81n¢o the year 8nd wero a8 lollow8'. R M Cleland Admlnl•trallv• d•tsii• Charlty reg18tr8llon number Nl 108248 Homrary Treasurer H E Bolloml8y Honorary SeCrary D Walker Independent oxamln8r GMCG Bellast, Chart8red Accountants and Statutory Auditor, Alfred Housé 19 Alfred Slre8t, Bdfast, 8T2 8EQ Ulster Bank Llmited, 11-16 Donegal Square East, Beffa81, BT1 SUB Evelyn Pwlner8, Tho Ewar(13th Floor, 3 B¢dford Square, B•llasl, BT2 7EP lrnie8tec Wealth a Manag8ment (UK), I Slh Floor. Clty Quoys 3, 92 Donegall Quay. Balfa8t, 8T13FE 88nker8.' Investment manager8: Obl•¢tlv•8 and •¢tlvltl The objects of the CharSty shall be the proventlon and rollef of poverty by mean8 of advlco, en¢wragomen( prornotion and de8orving financlal 888iStarKe to benefit the welfare of chlldren (natural or adopted), orphans (natural or adopted), or grandchfklren (natural or adoptad) of Freemasong. betng ollglble up to the age of 25 years. Page 2
Paa80nlc Orphans, W•lfarn Commllta• TnMt•e8 R•port {conllnu•d) Yoar Endod 31 D8c•mb•r 2024 Publlc B•nofft Stat•m•nt The Masonlc Orphans, Welfare Comrnlttee remaln sieadfa8t wilh thelr aim to maxlmlse the amount of money donated each year prlmarlly from Ma8onlc 8relhren. Thls Is to facllltate Ihe wevenllon and rellef of vety of n8ces8llou8 chlldren and orphans of 'Fre8masons'. To provlde and afford In necessllous ctrcum8tanc•8, financlal a88lstance by m•ans of grant of Mon1 andlor Swvlcw deemèd neces8ary to eltgble appllcants (Y Ihelr authentlcaied legal guafdians (a3 Ihe iepresentativa of the appllcant) for tho pr6ventlon andlor relief of poverty andlor 30clal gxduslon. Th8 provlslon of guch rollef Is based upon appral8al of need, as to warrant drcumstance of grants pald annually to ben6fklarl88 of th• Charity In December of ea¢h year. or altemallvety lo provlde Immediate a8818tance by slngulaf benelll award. The provlslon of asslstanGg by pro8$ of annual award 18 to be as8e830d arKI admin131•red In accord8nce wlth pollcy crlterla, based on definable In(rne bands. detomilned by mèthod of 'mean8 lesl, annualty rovlowed In Ihe mnlh ol Odober of each year. The provislon of 81ngular award to a b8nefidary1g based on dependence of short-torm n8ces81ty belng consld•red ample to 8at58fy Imm•dlate requlrem8nts for avoldance of deprlvatlon and lurth•r d8cllno Inlo clr¢umstaKe of povety andlor 8txI81 eXcI10n and dlsadvantage. For the prnvlslon of all preventatfve measures relatlng to dreumg1a of poverty to offer wldarKo and wovlde dliectlon to ex09tlng and potential benefidarles In rdatlon lo enUll8ment of State benefilB, grants or 8ward6 ¢on(hJclve to enharKlng theSr ggnwal clrcum8lan¢e• and preveniing decline of poverty. 80clal exctuslon and hardship. In provldlng rollef to ellglble bonelklarle8 the Charty alrns to dillY and Indlrectly a$858t to provldkn9 means 10 prevenl fuellewgy povety, food deprlvation. 8nd ganeraljy asslsl wlth such cost8 thtlng domestlc. educational, medEcal. resplle andlor employment essentlals. The Charfty alm8 to provide financlal os318tance to b6neficlarf88 trwough an effectNe 8UPPQrt syylem to render servlce8 and 8s$18tanc8 In casts of low Income, heallh t8su8s (physkal and montal), pertlnent to dl8abllttl48 (physlcal mental), Such as, 80dal mobllity. depre881on, 8tre88. anxiety, soclal Isolatlon. counselllng and concurrlng a8soclat•d ctrcurn8tanc•g wtainlng lo more seriou8 8ndlor Ille lfveatenlng Illnesse8. To provlde fTrnanolal 8uppcKI relevani lo thè needs of malntalning a lustlfi8d standard of Ilving based on con8en8ual appralsal of a Scaled cost of Ilving assessmenl detemilne(l ty the Charfiy on an annual ba816 In Seplembef of each year. The prov181on of supp(Kl to dlsadvantaged In odu¢atlon, M)rk, low-pald employment, Income povety, deprlvalton and exduslon frorn soclal 8érvlceg; housing asslstance for the prévenllon of homal8s¥no88; to assisiance wlh cost of trav61, clolhing, commuTricaiion. ¥saI dleiary requlrements, associated household costs r•lat&4 to modical and allh Issues and finCIal assFstance to support the provlslon of proscrfbed medkation l treatmoni6 noi funded by NHS. The purposes of the Charfty have no Identifiable hami to the ben8ficlarl8s. There 58 no prlvaie b8nefit to the Truslees ol the Charlty," there may bo occa810r io necessltale for Incidental benefits In provislon for Irainlng, good govemance. publk relauons. research, logal and profession818ervlces io ensure Ihe coniinuance of benefit to tho Charity's benelEclarles. The Trustees b8llev8 Ihat Ihe purposes of tho Charity 88tlsfy all element8 of ihe publ1¢ bent requtr8ments. Pag8 3
a80nlc Orphans, Welfare Commltteo Tru8t008 Roport (¢ont1rW) Year Endad 31 Decombor 2024 Achlevom•nts and p•rfornian Total incom8 lor tho yoar was £36,375 (2023., £25,$29). Investments are held by 1nveslm0 managers as dlscrelionary nomlnees. There was an unreallsed galn of £58,329 (2023: £53,123 galn) on revaluation of Invesiment assets and a realls8(1108s of £2,160 (2023: £924 galn) on the di8posal of Inve8lmenls. Total expendlture lor thè year 8mount8d to £25,732 (2023: £17,165). The net Income for the year amounled to £10.643 (2023". net income £8.3641. Inv•8tm•nt pollcy The trustee8 have engaged Evèlyn Parln8r8 and Inv88tec Wealth & Manaaement {UK) as Investment manao&rs to pursue a pollcy of maximlslng Income whllst malnlalning some capltsl h. Flnanclal rnvl•w (Includlng r•s•rv•• pollcy) R•••Th•• polky Tho charlty's pollcy b to retaln a18vel of reswves Mthlch malches the need6 01 Ihe chwlty bolh al th• rrent tlm8 and In the foreseeable fuiuro. The charily malntalns a level of unrestrlcted reseNe8 In cas8 Ihe need arf888 to expend speclal lund8 on bgn8llciarles. The re8wves pollcy Is revlewed by Ihe tru8tees annually. As at 31 December 2024, the charlty has iolal lunds of £1,328,229 (2023: £1,281,417) of whlch restrict8d funds afo £N4 (2023: £NII) and unr881rlcted fund8 are £1,328,229 (2023: £1.261,417). Fundlng The Fund was not actlvely 8eoklng subsrylptlons and donalbn8, and fundlng wa8 wimarlly from Inve8tmenl Income. Plan• for futur• p•rlod• The trustees will contlnue to cary out the obleciivès set oui above for the Pfev6nt#)n and rellef of povety of nece881tous chlldren and orphans of 'Freemasons' belng ellglbl& up to th6 age 0125 yoarn, Tru8t••8' f•spon•lbllltl•s 11 Is the respon81bility of the Honorary Treasurer, at the behe8t of the Trustees, to prepare flnanclal stalemenls In accordance with appltcable law and Unlted Klngdom Accounting Standards (United Klngdoffl Generally Accapled Accountlng Practlcè). The law applkabl• lo charftl85 In North•m Ireland r8qulrés tho trustees to Pfèpare financ181 slatements for each financlal y8ar whlch glv8 8 true ands falr vlew of the 8talo of affalrs of thè charKy and of Incomlng re8ourc8s and applicatlon of raUrceS of tho charlty for Ihal period. In preparlng th financlal slatementg, the trusle66 are requlred to: select 8ullable accounlSng pollcles and then appty them cong1918nlly; observe Ihe mglhods and prlnclple8 In Ihe Chorllles SORP 2019 {FRS 102); make judgements and 88llmaies that alé reasonable and wudenl; stat• whether applicabl8 accounllng 81arKlard8 have been follmd, subject to any motwlal deparlures disdosed and exp181ned in the Ilnancial slatem8nt8; and prepare Ihe financlal $taiemenÈ8 on the g)Ing con¢em basis unle89 It is knapproprlale lo presume Ihat Ihe ch8rlty wlll contlnue In operatlon. The TfU81•88 are rospon81ble for kegplng proper acthintlng record8 Ihat dl8do88 wllh reasonable accuracy at any Ilme financlal posltion of the charlty and enable thom to ensure thal tho Ilnancial slatements compty wlth the Charltles Acl (Northern Ifeland) 2008, the Charltles (A¢counts and Rep(ts) R•gulain5 (Nclthern Ireland) 2015 and the provlslons of the trusl de6d. They are a180 re8pon8)le for safeguarding the assets of the charlty and hence for taklng reasonable stops for the prevention and detection of fraud aNI olher Irregularities. Ptye4
Ma8onlc 0han8' Welfare Commltt•• Trut••s Rewt (contlnu•d) Y•ar End•d 31 D•combor 2024 Tru•i••8' r••pon•lbllltlM (contlnuod) The Trustees are responslbl? lor th6 malntenance and Integrlty of the charlly and financlal Inlormalion Included on eharlty's webslte. Leglslatlon In the Unftod Klngdom govemlng Ihe preparall)n dlssamlnatlon of finanGlal stalements may dlffer from leg151atlon In other Judsdlclions. 018¢IMur• of Inforniatlon io Ind•p•nd•nt •X4ffl1n•r So far a8 eath of tho tru8t6e$ In offlce at the date of apwoval of these flnanGlal 8latements1s aware: there Is no relevant Infomiatlon lor the Independent oxamlnaiion of whlch the charlty's Independent &xarnlner are unaware: and they have lak8n all 8tOPS ihat ih8y outht to have taken a8 Irusle88 to make Ihemselv88 aware of any relevant Informatlon and to estab118h that the charlty's Sndèpondenl examlner are are of that Inforniatton, Ind•p•nd•nt •xamln•r GMGG Bollast WUI con11rA in office a¥ Independent examiner for the ensulng year. On behf ¢1 Tru8tO08 Trustee: D Vialker 49 Main Street Ballydare BT39 9AA Paye S
Masonlc Orphan•, W•llar• Commltte• Indop•nd•nt Examln•r'• report to tho Tru8toe8 of Ma8onlc Orphans, Walfar• ¢ommitto• Y•ar End•d 31 DKemb•r 2024 I report on the accounls ol the charity for the year ended 31d December 2024 whlch are sat Oul on pages 8 to 17. RMp•ctlv• r•8pon8lbllltlM of Iru81•08 and •xamln•r A8 thé chiVs trustees you ara raaponslblo for the prepara1k of thg accouni8 In accwdanefj wlih tho Ch8rftt88 Act (Northern Irdand) 2CKI8. 1118 rny responslbllity lo: examlne tho accounts und•r secllon 86 of the Charltk8 Act; fdlow the prdureS laid down In th8 géneral Dlrections glven by Ihe Charlty comm1s81( for Northem Ireland under sl0n 65(9)(b) of lh6 clItIeS Ael: and 8tat• •ther partlcular matters havè come to my attantlon. BA818 of Ind•p•nd•nt •xamln•¢• r•port I have examlned yow charlty accounts a3 requlred under sectlon es of tho Charlll88 Acl and rny oxarninallon was carrled oul In accordance wllh the 96neral Dlrectlon8 glven by tho Charlty Comml881on for Northern Ireland under Mctlon 85(9)(b) ol tho Charfl9 Aci. My examlnatlon lrttuded a revl6w of the accwntlng records kq)I by the charlty and a compari80n of tho accoun18 Ixeseniod wllh those r8cor(55. 11 ajso Induded con8kleraiion of any unusual items or dlsdoBures In Ihe xcounts and seeklng explanatlons from you as charlty tru8te68 concorning any 8uGh matters. My role18 10 Slate whelher ony materlal matters have to my attenllon glvlng m& eAU80 to belkn.. 1. That acoxmilng rocord8 were noi kept in 8c¢ordanc• wlth Sectlon 63 of Ihe Chariti88 Act 2. That th8 accounls do t acc Ihose accountlng reG(Kd8 3. That the a¢counl8 do not comply wlth lh• a¢IntIng requlremenls ol the Charltl•8 Act 4. That thore18 furfher Inffmmatlon needod for a proper undw8tandlng of Ihe ac¢ourts kn be reathed. AlfrnJHo 19Alfnd Stre B&$rFfz8BQ DX39ioNR BEISAxfso Dtury H 830N BT69 3P Toll •44(9)889031 1113 P., •44(0)289031 IV77 Trk +(0)8980D7S F•r. +44(0)A8 9261 Its6 Th1: +44(oh83833801 IP&y: +44(01*838&50493 Page e
Ma80nlc Orphans, W8llar• Commlttge Ind•p•ndent Examln•trs raport to th• Tiusteos of Ma80nlc Orphan•, Wowaro Commlttee (contlnued) Year Endod 31 Dec•mber 2024 Indwnd•nt •xamln•e• •tatorn•nt I have completed my examinatFon and hav8 no Corern$ In respocl of the matters {1) to (4) Ilsted above and, In connection wtth following Ihe Direcllons of the Charlty Commlssion for Norlhern Ireland. I have found no matters thal require dr•ng to yow attention. B.J. Frlar FCA Chartered Accounla For and on behalf ol GMCG 8elfast Chartered Accountants & Stalulory Auditors enl Examlner) land Alfrod House 19 Alfrod Slreel Belfasl BT2 8EQ Dale: Page 7
Masonlc Orphan8' Welfare Commlttee 8tat•ment of Flnanclal Actlvltl•s Year End•d 31 Doc•mber 2024 UnnrIea fuThd• 2024 T¢)tal 2023 Total Not• Incom• artd •ndowm•nts from: Donaiions and18gacies Investmenis 4,752 31,023 4,752 31.623 1,374 24.155 Total Incom• 38,375 3fj376 26,529 exp•ndltur• on: Investment managem6ni Costs Charttable adfviiies 11,862 13,870 7,785 9.380 13,870 Total •xp•ndftur• 28.732 26,732 17,165 N•t Incom• b•for• galn on InvMtm•nt• 10,643 10,643 8.384 Nel g8ln on Invegtment8 $6.169 56,169 54.047 N•1 In¢om• 88.812 14812 82.411 N•t mov•m•nt In lund• 17 66.812 61812 62.411 R•conclllatlon of funds: Total fund8 brought foThvard 17 1361,417 1,281,417 1.199,008 Totsl fund8 carrl•d lo3rd 17M8 1,328.229 1,328,229 1,261,417 All Income and experKlllure derfve from ¢onllnulfwJ acllvlties. Pag8 8
Ma8onk OvphaD8' Wolfarn Cornmltte• Balanco Sht A8 at 31 DeGemb8r 2024 2024 2023 Flx•d asg01• Inve8tment8 Not• 13 1,258,713 1.005,563 1,258,713 1,005,563 Curr•nt a•••ts Stock DebtOT3 Cash at bank arKI In harKI 14 3,424 34.580 223,630 816 70,336 74,618 261,634 Cr•dltor•: amounts falllng du• wlthln on• y•ar N•1 ¢urr•nt ••••t• 18 (6.OflO) (5,780) 69,516 2SS.854 N•t u••ts 1,328,229 1.281,417 Charlty Fund• Unrestrlcted fund8 17118 1,328,229 1.281,417 Total charlty fund• 1,328,229 1,281,417 The fina1 I tements on pages 8 10 17 were approved and authorlBed for Issue by Iho Trusta on . and are Signed on their behalf by: D Walker Tru•t••: Moff The nole¥ on page8 10 10 17 forni part ol Ih8se fFnanclal $tstements. Page 9
Masonle Orphan8' Wollar• Commltt•• Not•8 to th• Fonanclal Statements Year End 31 D•c•Mr 2024 Summary of 81gnlficant accouniing poll¢lo• (•) Gonwal Infornmtlon and ba•ls of pr•paratlon Masonlc Orphans, Weffare Commlttee Is governed by a constiiutlon dated 4th December 2019. and Is recognlsed as a charity by HM Revenue & Customs. Th8 objects of Iho Charlty are the preventlon and felief of poverty by means of advl¢x, encouragemant, promollon and dewvlng finarKlal a8816tsnco to benefit the welfare of thlldren (natural 8fKt adopied), orphans (natur or adopted), or syandchlldren (natural or adopted) of Freema8ons, belng eliglble up to the age of 25 years. The charity constilut68 a publ1¢ ben8fi1 entlty as delIr by FRS 102. IlnanGlal statemenis have been prepared in accordance wllh appllcable accA)unllrKJ Standards. Accountlng and Reportlng by Charltles: Sl8temenl of Recommendad Pr8CtI(J appllcable lo charlttes pwarlng Iholr accoun13 In accordance wllh Ihe Financial Reportln9 Standard appllcable In UK and Rewblk ol Ireland158U In October 2019, the Finanod Rèportlng Standard appllcable In the unOd Klngjom and Republk of Irèland (FRS 102), the Chaflties Act (Norlhem Ireland) 2008, Charitles Act (Northern Irelandl 2013. The Charitles (Accounts and Report5) Regulation8 (Northern lrnland) 2015 and UK Generally Accepted Accounllng Pfaetlce. The flnanclal 8tatem8n18 are prepared on a golry cone•rn ba818 under th8 Nstorl¢al cost conventlon. modified to Include certaln Items at faif value. The llnanclal statemen18 are prepwed In 81erllng whlch 1$ Ihe fiJn¢tlonal currency of lh• eharlty and rounded to the neare81 £. The 8lgnMlcant aco>unllng pollcles applled in the prepar8tlon of th88e Iln8ncb81 slatemeNB are 8Ot out belLw. Th0 pdkies hsve been cons5slanlly applled Io 811 year8 presented unle88 Oth8rwl8e 8iaied. (bl Fund• Unre8irlcled fundg afe av8llable for use at Ihe dl8fAetton of Iho trusle88 in furtheran of th6 general obJectiveB of Ihe charlly 8nd which hava not b88n d88lgnated for other pJrpoJe$. (CP InMm• r•gnItIon All Incorno Is Included In the Stat8ment of Flnanclal Acllvttles (SOFA) when tha charty Is legalty enllded to the Income after any porformanco condltlons have been met. the amounl b6 measured mliably and11 18 probable thal the Incom• wlll b• rttelved, No arn113 Iluded In the financlal gtalements for volunleer tlme In lina wlth the SORP {FRS 102). For legacles, entltlemenl13 the earfler of the charity b•ing notified of an ImpdIng distr111•CTr or Ihe legacy belng recelved. At th18 polnt Income Is recognlsed, On occaslon legacl88 wll be notifled lo tp charfly however It Is rt posglble lo mea8ure amount expected to be dlstrlbuled. On these occasK)ns, no prov151on is made for any amount recelvalAo. Inve8tmfjnt Income [8 earned through holdlng ass8ts for Investment purpose8 su¢h a8 ahar08. It includes dividends and intorest and Inwne Is recogn18ed usSng thg effect Interest method and dld0nd Income Is reMgnl8ed as the oharlty's rlght lo recelve payrnont 68 ests¢sh. Pago 10
Ma8onlc Orphans. Wolfar• Commlttoo Notes to the Flnanclal Statem•nts (Cortinuod) Y•ar Ended 31 Docomb•r 2024 Summvy of •lgnlflcwt accountlng polk1 {conllnu•d) (d) expondltur• r•cognltlon All expenditure 18 accounted for on an accnmls ba61s and has b88n classthd under headlngs ihai aggregat8 all costs related to the ¢egtYy. Expondituro 18 recognlsed where there Is a legal or conslructive obllggtlon to make payments to thtrd partles, It 16 probable that Ihe 86ttlement wlll be required and the am¢)unt of tha obligalion can be mea8ur8d reliably. It Is Categorised urrfler the followlng headlng8: Expenditure on Charitable actlvi1188 Indudes actlvltl08 undertaken directty and related 8UPPryrt costs,. arKI other expendlture represents Ihose116ms not falllng Into the categorie8 above. Grants payabla to Ihtrd parths are wilhln tho ¢hailtab16 obJeGlSves. (•) Support cost• allocallon pptyt CO8tG ar• Ih08e thal a88181 Iho work of the charity lyjt do not dlrocdy reprent charftable actlvltle8 and Includ8 office cost8 arrtl govemance cost8. They are Ifrred direcuy in support ol expendlture on the oblects of th• charlly. ln Inv••lm•nt• Inv8strnenls are recogni8ed Inltlally at falr value wthlch Is nrnallY th8 transacth)n prlc8 oxcludlng transaction COSIS. Sub8equenUy. Ihey are m•a$ured at falr valu8 wllh Changes rocognlsed Sn 'net galns l (losses) on Investmenls. In Ihe SOFA If Ihe shares are publlrJy Iraded or the lalr value othe1$6 bo measured r01iably. ottrf inveslmgnts gre mea8ured at CO811888 Impalrmonl. (g) Sto¢k Stocks are Slat at the lower of c081 and 8Stlmalod selllng prl¢e 1888 eOSt8 10 3811. siock Incl83 mmemoratlve jewels. (h> D•btor• aml ¢r•dttorn r•c•lvabl• I pay•bl• wlthln on• y•ar Debtor8 and credllor8 with no 8taied Interest rate and recelvable or poyable wlthln one year are recorded at trangactlon prfce. 11 Ca•h •¢ bank and In hand Cash at bank and In hand Ilud6S cash, deposlts held at call wlth banks arKI other short-temi hlohly Ilquld Investrnents wlth orlglnal maluriti88 Of tlv¢e ffKJnlh8 or less. Pag8 11
Masonlc Orphans. Welfare Commlttee Not•8 to th• Flnanclal Stat•m•nt8 (continu•d) Year Ended 31 D•c•mbor 2024 Summ•ry of •lgnlfl¢ant yAiuntlng poll¢l•8 (contlnuodl Ul Tax The Hlgh Court conduded on 9 March 2021 that the charlty is chaTllable In a court case In r8spect of the dlstrlbution of Ihe Estate of John Marcus Strafford Dec8a8ed and IWefore Ihe gm from Ihe eaSed was able to be pass8d to the charlty. The chaTIty Is rw188d as a tharfty by HM R8venue & Customs, and as 8u¢h is entilled to certaln lax exempUon8 on Income aNI galns from Investmenls, and surpluse8 on any trading actfvlts.es carrfed oul In iho furthffance of charity's primary objeclhes. If Ihe38 9alns and 3urpluses are applled solely for chafhablo purpos•$, The chwlty l¥ not roglst•red for VAT and, accordlngly, all thelr expendlture Is Incluslv• of any VAT Incurrod. (k) Golng conc•rn The finanthl 8tat8mènts have beèn prepar on a golng concern basls as the trustees beli8v8 that no mater181 UnrtaInlIeS 8xlst. The inmtees have consldered Ihe lavel of fund8 held and Ihe expected lev81 of kncome and 8xpèndlture fof 12 months from authorlslng Ih888 financlal 8t818menis. The budggled income ar oxpendlture 18 Sufficient wlth Il8Ve1 of regeNe$ for the charity lo be abla to ClInUe as a goln9 concorn. (11 Crlllcal aceountlng Judg•m•nt• and e•tlm•tlon unc•rtalnty E81imates arml a8$umptlons are continually evaluated and are based on hl8torl¢al expwlence and other factors, Indudlng expectatlons of future event8 Ihal ern belIed lo be re830nable undw the clrcumslances. CrRlcalJudg•m•nls In applylng lh• charAy$ a¢courting polkkns Thwe are no crfllcal judgements In applylng Ihe ¢harity'3 aCuntIng pollcla$. CnllGal ac¢ountlng estlmates and assumptkn78 There are crlllcal accwnlSng e8tlmates and ag$UmlOn$. Incom• from donatlons 4nd l•g•d 2024 2023 Subscriptions and dorAiions Legacies 2.132 1.374 4.752 1,3T4 In¢orne from don8tlon8 was £4,752 {2023 - £1.374> ond was aitrfbuiabl¢ to unreslrlcled lunds. Pag8 12
Masonlc Orphans, Woffar• Commltt•• Not•s to th• Flnancial Statsments (contlnuod) Year End•d 310•¢wnb•r 2024 In{Me Irom Inve•tm•nts 2024 2023 Divmlends Inter6st 30,367 1,266 23,189 31,023 24,155 Incom from investmen18 was £31.823 (2023 - £24,155) and was attrlbutable io unr88tricted funds. InvMtm•nt m•n4g•ffl•nt M•ts 2024 2023 Investment manager fees 11.862 7,785 £11,862 <2023 - £7,785> of Ihg above costs were attrlbut8ble to unrgstrlcted funds. An*ly•ls of •xp•ndltur• on ¢harftabl• a¢tfvtth• Ch4Titabl• aGtlvltléB 2024 A1vItIeS undertaken dyeclty Supp(xt cosls Prevenllon and rellef of povety 12,400 1.470 13.870 Charilable athiti95 2023 Aetlvltles undertaken dlreclly Support cost8 Tolal Preventlon and relE81 of povety 6,550 2.830 9,380 £13,870 (2023 - £9,380) of ts above co8t8 wero attrbutable lo unrosirf¢Xgd fvnds. Pag8 13
Ma80nlc Orphans, Wollaro Committoo Note8 to th• Flnanclal Stal•m•nts (contlnuod) Y•ar Endod 31 D•cembor 2024 Analy918 of 8UPllOrt ¢ost• 2024 2023 Support costs GovernarKe c0818 (noie 7) Office expenses Insuranc8 1.100 370 365 Tolal 1,470 2,830 Gov•rnwco ¢ts 2023 Independenl examln Legal expense8 1,100 1.100 2,400 Independe examlnérfs f80 Includes a of £1,100 <2023- £2,4W) for the Indop6ndenl •xarnlnal of the flnanclal slatements for the year onded 31 D¢cember 2024 ty GMCG Bdfasl. An418 01 grnnts 2024 2023 Financlal 85318tance for the wovenllon and rellef ol poverty 12AQO 0,550 N•t Incom• for th• y••r Income for the year18 81ated after charglng l (credrtlng): 2023 Unreallged (gaSn) I loss on falr value mvement ol investment8 Rea118ed loss l (galn) on dlsposal of Investments (58,329) 2,180 (53.123) (924) Page 14
Ma8onk Orphan8' Welfarn Cornmltt•• N¢Ao8 to th• Flnandal statements (contlnu•d> Y•ar Endod 31 D•eember 2024 10 Tru•tM•' and k•y manag•m•ni p•r•onn•l r•mun•rdon and •xp•n8¢8 Tha trustees noilher received nor walved any femuneratlon durlng the year (2023 - £NII). The key managemenl personnel are consldered lo b8 thè trustees. total amount of employee benefits recefved by key management Personnel Is £NII (2023 - £NII). The rmr8eMent of 8e¢retary and IfU$tees' expenses were £NII (2023: £NII). Included In abovo aré £NII (2023 - £NII) tch have been pald directly lo thlrd parties. 11 Efflploy•• Inf0mtIon There are no employees. 12 Taxatlon The chanty18 recognl88d 88 a Charlty by HM Revenu• & Customs. and as 8u¢h18 endded to cartalft tax exampison8 on incomè and galns from Invéstments, and suiplu8es on any tradln9 actlvltl88 Garrled out In tho furthefanGo of the ¢hwlty'8 prlmary obJeCllv, W these galn8 and surplu888 ar• appllod solely for charflable purposes. The charity 55 not reg18terèd for VAf and aeMrdindy, all Its expendlture Is recorded incluslvo of any VAT Inrred. 13 Inv••im•Tht8 Investnwjnls al falr value compromlse: 2024 2023 Markol valu• At 1 January 2024 Addlllon8 018po6a18 g8Sn l (1058) on revaluation 1,005,063 331,119 (136,298) 58.329 1.268,713 841,908 147,098 <36,584) 53.123 1,005.563 Hlsiorlcal cost at 31 Decomber 2024 1,199,419 1.000.621 Investments at fatr value comprise: 2024 2023 8ond8 Altematlve & Multl-A8set Equltl88 Flxed Interest 131740 177.986 854508 89,479 57,237 178.205 701,418 68,703 1,005,563 1,268.713 The falr value of lisled imiestments is determined by reference to latost avallable mid-market prices at thè valuatlon date. Page 15
Ma8onlc Orphans. W•lfarn Cornmitto• Not•8 to th• Flnanclal Actlvlties (conllnu•dl Y•ar Ended 31 Decomb•r 2024 14 Sto¢k 2024 2023 Commemorative Jewels 3.424 10 D•blorn 2023 Legacy recelvablé 0r debtor8 33,764 816 816 816 34,580 16 Cr•ditor8: amounts falllng du• wlthln on• y•ar 2024 2023 Accrual8 and defeffed Income s,000 5,780 17 Fund r•con¢lllaiion Unr•8trlct•d lund• Balan¢• at Galn81 Balanc• at l January Incorn• Exp•ndllur• (108••81 31 D0mb•1 2024 2024 UThrMtrfcl•d 1,261,417 38,376 128.7321 S6,1 1,328,229 Balance at 1 January 2023 Galn81 Balanc8 at Incomo Expendliure {lOe$) 3109¢8mb8r 2023 UnrestrKled 1,199,006 2S,629 (17,165) 54,047 1,261,417 Page 16
Ma8onlc Orphans, Wolfar• Commltt Nots8 to th• Flnanclal Actlvltl•8 l¢onQlnued) Yoar Ended 31 Dac•mb•r 2024 17 Fund r•eonclllatlon (¢ontlnu•d) Unreslrkled fund8 are available for usè at disrAetion of the tru8t888 In fLYtherance of Ihe general obiactives of Iha chadty arKI whlch have noi been deSnated for other pwposes. The transfer frorn unregtrfcted funds to endowment lunds represenis Cash tran81ernd. 18 An•ly81• of not aM•l8 b•lwMn funds Unmtrfct•d fund• 2024 Flxed •v4•t• - Inv•8tm•nt8 Cash Oth•r n•t curr•nt a88•t8 I IIknWIItIM 1,258,713 70,338 1820) 1368,713 70,336 1820 Total 1.328,229 1,328,229 Unrestrfctsd funds 2023 Total Flxed assets - Inv08tment8 Cash Olher cuir8nl Ilablmlkns 1,005,583 223,830 32,224 1,005,583 226,630 32,224 Toial 1,281,417 1,261,417 19 R•lat•d party tran•Ktlon• There re no related party transactlons durlng the year (2023- £NII). Thern18 ultimate conlrdllng party. 20 Ethlcal 8t•ndard In common w11h many other charllles of our slzo and natur8 we use our Indepèndent examlner to prepare and submlt retum8 lo Ihe tax authorttle8 and assljt the preparatson of the Ilnanclal stalements. Pag¢ 17