Charity Registration No. 219180
Company Registration No. 00441186 (England and Wales)
CHESHIRE MASONIC COVENANTS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
CHESHIRE MASONIC COVENANTS LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M G Ireland
D Talbot
P Crudge
J Shasha
J Cunningham
(Appointed 4 December 2023)
Secretary
A R Jones
Charity number (England and Wales)
219180
Company number
00441186
Registered office
Ashcroft House
36 Clay Lane
Timperley
Altrincham
Cheshire
WA15 7AB
Independent examiner
McLintocks (NW) Limited
2 Hilliards Court
Chester Business Park
Chester
Cheshire
CH4 9QP
CHESHIRE MASONIC COVENANTS LTD
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 9
CHESHIRE MASONIC COVENANTS LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 April 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objects as set out in the Articles of Association are to collect, administer and distribute the covenanted and gift aided regular giving made by Freemasons of the Masonic Province of Cheshire.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

The trustees are satisfied that the charity achieved its objective in the reclaiming of tax and the distribution of monies during the year.

Financial review

The company's only normal recurring income is from bank interest received, and it's only costs are bank charges and governance costs.

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

P C Carroll
(Resigned 27 September 2023)
M G Ireland
D Talbot
P Crudge
J Shasha
J Cunningham
(Appointed 4 December 2023)
Recruitment and appointment of trustees
Organisational structure

The trustees are responsible for all policy decisions and the regular review of the charity's activities, which is carried out at regular meetings.

Funds held as custodian trustee

Funds are collected and held as custodian trustee on behalf of the Cheshire Freemasons' Charity, charity registration number 219177, and other related masonic charities.

CHESHIRE MASONIC COVENANTS LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -

The trustees' report was approved by the Board of Trustees.

D Talbot
Chairman
31 October 2024
CHESHIRE MASONIC COVENANTS LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CHESHIRE MASONIC COVENANTS LTD
- 3 -

I report to the trustees on my examination of the financial statements of Cheshire Masonic Covenants Ltd (the charity) for the year ended 30 April 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no 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 charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Alastair Jeffcott FCA
McLintocks (NW) Limited
2 Hilliards Court
Chester Business Park
Chester
Cheshire
CH4 9QP
Dated: 31 October 2024
CHESHIRE MASONIC COVENANTS LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income and endowments from:
Investments
2
12
3
Other income
3
11
160
Total income
23
163
Expenditure on:
Charitable activities
4
450
450
Total expenditure
450
450
Net expenditure and movement in funds
(427)
(287)
Reconciliation of funds:
Fund balances at 1 May 2023
1,131
1,418
Fund balances at 30 April 2024
704
1,131

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CHESHIRE MASONIC COVENANTS LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
5,947
16,922
Creditors: amounts falling due within one year
10
(5,243)
(15,791)
Net current assets
704
1,131
The funds of the charity
Unrestricted funds
11
704
1,131
704
1,131

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 April 2024.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 31 October 2024
D Talbot
Chairman
Company registration number 00441186 (England and Wales)
CHESHIRE MASONIC COVENANTS LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
1
Accounting policies
Charity information

Cheshire Masonic Covenants Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Ashcroft House, 36 Clay Lane, Timperley, Altrincham, Cheshire, WA15 7AB.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the memorandum and articles of association dated 25 August 1947, as amended by special resolution on 1 December 2015, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern 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.

Restricted funds are subject to specific conditions by donors or grantors 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 income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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.
1.5
Expenditure

Resources expended relate to governance costs and the costs of collecting, managing and distributing covenanted and gift aided regular giving made by Freemasons of the Masonic Province of Cheshire.

CHESHIRE MASONIC COVENANTS LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 7 -
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call 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.

Basic financial assets

Basic financial assets, which include debtors 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 creditors 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 discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
12
3
CHESHIRE MASONIC COVENANTS LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
3
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Enter ac937 in database
11
160
4
Expenditure on charitable activities
Heading #ac982
Heading #ac982
2024
2023
£
£
Direct costs
Share of support and governance costs (see note 5)
Governance
450
450
Analysis by fund
Unrestricted funds
450
450
5
Support costs
Support costs
Governance costs
2024
2023
£
£
£
£
Independent examiners fees
-
450
450
450
-
450
450
450
Analysed between
Charitable activities
-
450
450
450

 

6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
450
450
7
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
CHESHIRE MASONIC COVENANTS LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

9
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to fellow group undertakings
-
400
Gift aided donations awaiting allocation
4,793
14,941
Accrued expenses
450
450
5,243
15,791
11
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 May 2023
Incoming resources
Resources expended
At 30 April 2024
£
£
£
£
General funds
1,131
23
(450)
704
Previous year:
At 1 May 2022
Incoming resources
Resources expended
At 30 April 2023
£
£
£
£
General funds
1,418
163
(450)
1,131
12
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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