Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Thomas Frederick Auber 09/07/2024 Dr John Anthony Elmore 01/03/2005 Stephen Henry Newman 01/05/2013 David Guy Devereux Pearsons 17/02/1996 Howard John Wright 01/05/2013 Thomas Auber 07 April 2025 To provide and sustain a meeting place (Masonic Hall) for Ipswich Freemasons appropriate to levels of membership, social trends and the delivery of Masonic values. 03142037 2024-12-31 03142037 bus:Director1 2024-12-31 03142037 bus:Director2 2024-12-31 03142037 bus:Director3 2024-12-31 03142037 bus:Director4 2024-12-31 03142037 bus:Director5 2024-12-31 03142037 2023-12-31 03142037 core:CurrentFinancialInstruments 2024-12-31 03142037 core:CurrentFinancialInstruments 2023-12-31 03142037 core:ShareCapital 2024-12-31 03142037 core:ShareCapital 2023-12-31 03142037 core:RevaluationReserve 2024-12-31 03142037 core:RevaluationReserve 2023-12-31 03142037 core:RetainedEarningsAccumulatedLosses 2024-12-31 03142037 core:RetainedEarningsAccumulatedLosses 2023-12-31 03142037 core:OtherPropertyPlantEquipment 2023-12-31 03142037 core:OtherPropertyPlantEquipment 2024-12-31 03142037 2024-01-01 2024-12-31 03142037 bus:FilletedAccounts 2024-01-01 2024-12-31 03142037 bus:SmallEntities 2024-01-01 2024-12-31 03142037 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03142037 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03142037 bus:Director1 2024-01-01 2024-12-31 03142037 bus:Director2 2024-01-01 2024-12-31 03142037 bus:Director3 2024-01-01 2024-12-31 03142037 bus:Director4 2024-01-01 2024-12-31 03142037 bus:Director5 2024-01-01 2024-12-31 03142037 bus:CompanySecretary1 2024-01-01 2024-12-31 03142037 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 03142037 (England and Wales)

IPSWICH MASONIC TRUST COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

IPSWICH MASONIC TRUST COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

IPSWICH MASONIC TRUST COMPANY LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
IPSWICH MASONIC TRUST COMPANY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Thomas Frederick Auber (Appointed 09 July 2024)
Dr John Anthony Elmore
Stephen Henry Newman
David Guy Devereux Pearsons
Howard John Wright
SECRETARY Thomas Auber
REGISTERED OFFICE Freemasons Hall
8-10 Soane Street
Ipswich
IP4 2BG
United Kingdom
COMPANY NUMBER 03142037 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
IPSWICH MASONIC TRUST COMPANY LIMITED

BALANCE SHEET

As at 31 December 2024
IPSWICH MASONIC TRUST COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 215,000 215,000
215,000 215,000
Current assets
Cash at bank and in hand 10,239 9,737
10,239 9,737
Creditors: amounts falling due within one year 4 ( 829) ( 734)
Net current assets 9,410 9,003
Total assets less current liabilities 224,410 224,003
Provision for liabilities 5 ( 40,850) ( 40,850)
Net assets 183,560 183,153
Capital and reserves
Called-up share capital 0 0
Revaluation reserve 174,150 174,150
Retained earnings 9,410 9,003
Total shareholders' funds 183,560 183,153

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ipswich Masonic Trust Company Limited (registered number: 03142037) were approved and authorised for issue by the Board of Directors on 07 April 2025. They were signed on its behalf by:

Dr John Anthony Elmore
Director
IPSWICH MASONIC TRUST COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
IPSWICH MASONIC TRUST COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ipswich Masonic Trust Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Freemasons Hall, 8-10 Soane Street, Ipswich, IP4 2BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 215,000 215,000
At 31 December 2024 215,000 215,000
Accumulated depreciation
At 01 January 2024 0 0
At 31 December 2024 0 0
Net book value
At 31 December 2024 215,000 215,000
At 31 December 2023 215,000 215,000

4. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 504 409
Other creditors 325 325
829 734

5. Provision for liabilities

2024 2023
£ £
Deferred tax 40,850 40,850

The company has an investment property on its balance sheet. Deferred tax at 19% has been provided. Any change in future fair value will have deferred tax calculated on it and the amounts will be treated as a surplus or deficit through the profit and loss account.

6. Ultimate controlling party

The company is controlled by the directors.