|
Overall financial position
The surplus for the general unrestricted fund (in the accounts described
as “net movement in funds”) was £2,741,700 (2003 deficit £897,600),
after accounting for net gains on investments of £793,400.
After taking into account the operating surplus and the net gains
on investments, the General Unrestricted Fund at 30 November 2004
was £18.3m and the General Designated Fund was £1.7m.
A summary of the operating income and expenditure, directly
attributable to the unrestricted funds, is as follows:
| £000
| £000
| |
Note
| 2004
| 2003
| Income
|
| 1,859.0
| 1,657.6
| Contributions from Lodges
|
| 3,441.8
| 1,318.4
| Festivals
|
| 754.9
| 622.7
| Investment income
|
| 965.4
| 534.3
| Donations and legacies
|
| 7,021.1
| 4,133.0
| Total income
|
| | | Expenditure
|
5
| 2,742.1
| 2,225.3
| Masonic grants
|
5
| 2,314.5
| 1,548.9
| Non-Masonic grants
|
4
| 98.0
| 36.1
| Investment management fees
|
4,6,7
| 546.8
| 540.6
| Other overhead expenses
|
| 5,701.4
| 4,350.9
| Total expenditure
|
| 1,319.7
| 217.9
| Operating surplus/deficit
|
In addition to the costs outlined above, further costs relating to the
operation of the Relief Chest Scheme and the Transferred Beneficiaries
Fund have been borne by the unrestricted fund, as part of the Grand
Charity’s service to Freemasonry, as follows:
| £000
| £000
| |
Note
| 2004
| 2003
| Income
|
4,6
| 168.4
| 229.8
| Relief Chest Scheme costs
|
6
| 25.4
| 22.3
| Transferred Beneficiaries Fund costs
|
| 193.8
| 252.1
| Total
|
The accounts, which have been prepared in accordance with the
SORP (Statement of Recommended Practice, dated October 2000)
for charities, include the restricted funds of £24.4m held in the Relief
Chest Scheme and £11.6m in the Transferred Beneficiaries Fund.
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Copyright 2002-2007
MQ Magazine
Web site created by Mark Griffin
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