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2023-03-31-accounts

MASONIC SAMARITAN
FUND
Contents Page
Trustees'
Annual
Report
Strategic Report
Statement ofTrustees Responsibilities 13
Auditor's
Report		 14
Consolidated
Statement of Financial Activities		 18
Balance Sheets 19
Consolidated
Statement ofCash Flows		 20
Notes to the Financial Statements 21
The following
pages do not form part ofthe statutory accounts
Annex A —Grants made to Charitable Institutions 31

All governance and management
capabilities
are provided
by the MCF and		 details of the relevant
committees
and processes are provided
in the annual
report and accounts ofthat		 company. Trustees and
committees
ofthe MCF address the specific needs ofthe Charity as part oftheir roles and		 responsibilities
for the MCF. The trustee board and the main committees
meet as follows:
Board/Committee Purpose Meetings per
ar
Trustee Board Main decision-making
body with ultimate
responsibility
for		 the
Charit
Audit and Risk Identification
and miti
ation of risk, oversi
ht ofexternal
audit
Charity Grants Consideration
ofapplications
for grants from organisations
re
nised b
the Chari
Commission
Finance Ensuring
adequate
procedures
are in place to manage
all
as
cts offinancial
lannin,
controllin
and re
rtin .
Fundraising Supporting
the masonic community's
fund raising activities		 to
su
rt the Charit
Investments Maintaining
investment
strategies to meet the requirements		 of
the Chari, a
ointment
and rnonitorin
offund mana
ers
Masonic Support Consideration
ofapplications
from individuals
connected
with
the masonic communi
for financial
relief
Property (RMTGB
onl		 Development
and execution ofstrategies to optimise the returns
from the Chari
's
ro e
orffolio
Remuneration Determination
ofexecutive and staff
a
&benefits
Strategy Development
and implementation
ofstrategies
to support the
Charity's
objectives.
In addition,
the trustees
hold an annual
strate
ic'awa
da
.

The principal risk risk s id en tified and agreed actions to mitigate are s hown
in the following table:
Risk Conse
uence		 Miti ation
Significant unexpected Reputational
damage,
loss of		 Strong financial procedures,
financial loss from confidence
with key stakeholders		 particularly
budgetary
planning
and
operations and impact upon continuing control. Oversight
from the Finance
financial
sustainabili		 Committee.
Inadequate liquidity to Poor service to beneficiaries and Cash flow forecasting
and liquidity
meet financial reputational
damage. Withdrawal		 planning
within the Investment
commitments ofk
services from sup
liers		 Strate
Significant long-term loss Impacts financial
sustainability		 Appointment
ofAsset Risk
in the value ofthe and reputational
damage
with		 Consultants
as expert investment
investment porffolio donors advisors,
providing
monthly
performance
reporting
and analysis.
Oversight
from investment
and
ro ert
committees.
Grants made outside the Reputational
damage,
loss of		 Strong procedures
and controls for
Charity's
Objects and		 confidence
with key stakeholders		 processing
grants. Oversight
from
operating
guidelines		 and potential trustee
liability		 Masonic Support and Charity Grants
committees
Cyberattack on ITsystems All key operations are United Grand Lodge of England
compromised ("UGLE")and ITnetwork
providers
have strong security procedures in
place covering access, protection,
backups and disaster recovery
facilities. Mandatory
cybersecurity
trainin
in
lace for all staff
Data protection breach Reputational
damage
and		 Data protection
policy, ITsecurity
s
nificant financial
enalties		 and HR
olicies in
lace
Fraud Financial loss, reputational Financial procedures,
segregation		 of
damage, adverse impact upon duties, authority
limits, ITsecurity,
staff increased awareness
amon
st staff
Unavailability of office Operations
compromised		 UGLE Business Continuity
Plan
accommodation
Loss of paper records Breach oflegal obligations, Reduced reliance on paper records
from fire/flooding adverse
impact upon operations,		 with increased use of IT.
otential financial
enalties
Lack ofcompliance with Breach of legal obligations, HR procedures
and staff handbook.
employment legislation potential
financial
penalties,		 Induction
processes for new staff.
breakdown
ofstaff morale and		 Ongoing
management
training
and
adverse
impact upon service		 Personal
Development
Review
rovision
Undue reliance on key Operational
breakdown,
adverse		 HR procedures:
organisational
and
persons impact upon staff morale, poor succession
planning.
service to beneficiaries
and		 Comprehensive
documentation
of
otential re utational
dama e		 rocedures
and controls

own in the fo in the fo llowing table :
Asset Class Strategic Benchmark Actual 31"
Allocation March 2023
Cash 0.00% SONIA 2.90%
Fixed Income 7.50% FTSE UK World Gov. Bond Index GBP 880%
International E ui 54.50% MSCI World ex UK NR GBP 59.20%
U.K. E
ui		 18.00% MSCI UK E ui NR GBP 18.10%
Eme i Market E ui 12.50% MSCI Eme in Markets E ui NR GBP 3.20%
Alternative Investments 3.75% HFRX Global Hed e Fund GBP 590%
Pro ert 3.75% IA UK Direct Pro e
TR		 1.90%
1PO PP 100.0%

(Including a Consolidated Income and Expenditure Account)
Note 2023 2022
6'000 F'000
INCOME
Donations
and legacies		 669 420
Investment
income		 469 288
Total income 1,138 708
EXPENDITURE
Cost ofgenerating
funds		 (18) (82)
Investment
management		 costs (118) (121)
136 203
Charitable
activities
Masonic grants (10,814) (11,768)
Non-Masonic
grants		 (288) (490)
11,102 12,258
Total expenditure 11,238 12,461
Net gains/(losses)
on investments		 (147) 912
NET MOVEMENT
IN FUNDS		 10,247 10,841
Total funds brought forward 26,738 37,579
Total funds carried forward 16,491 26,738

BALANCESHEET
as at 31 March 2023 Note March 2023 March 2022
Company
Number 6876310		 Group Company Group Company
E'000 E'000 F'000 E'000
CURRENT ASSETS
Debtors 9 204 203 117 116
Investments 8 18,047 18,047 26,467 26,467
Cash at bank and in hand 635 634 3,429 3,428
18,886 18,884 30,013 30,011
CURRENT LIABILITIES
Creditors falling due within one year 10 (1,966) (1,966) (2,945) (2,945)
NET CURRENT ASSETS 16,920 16,918 27,068 27,066
Creditors
falling due after one year		 10 (429) (429) (330) (330)
Total net assets 16,491 16,489 26,738 26,736
CHARITABLE FUNDS
Unrestricted
funds
General reserves 16,491 16,489 26,738 26,736
Total charitable
funds		 16,491 16,489 26,738 26,736

CONSOLIDATED STATEMENT
 O F CASH
FLOWS YEAR ENDED 31 MARCH 2023
2023 2022
f."000 E'000
Operating
Activities
Net cash provided
by/(used
in) Operating		 Activities A 11,983 11,203
Cash flows from investing
activities
Dividends,
interest and rents from investments		 469 288
Proceeds from the sale ofinvestments 8,720 22,830
Purchase
ofinvestments		 0 (10,740)
Net cash provided
by/(used
in) Investing		 Activities 9,189 12,378
Change
in cash and cash equivalents		 in the
reporting
period		 (2,794) 1,175
Cash and cash equivalents
at the beginning		 ofthe
reporting
period		 3,429 2,254
Cash and cash equivalents
atthe end		 of the
reporting
period		 635 3,429
Notes on the cash flow statement
A Reconciliation
ofnet income/(expenditure)		 to net
cash flow from operating
activities
Net movement
in funds
as per the Statement		 of
Financial Activities (10,247) (10,841)
Adjustments
for:
Dividends,
interest and rents from investments		 (469) (288)
Other movements
in investments		 (300) (1,156)
(Increase)/decrease
in debtors		 (87) 70
(Decrease)/increase
in creditors		 (880) 1,012
Net cash provided
by/(used
in) Operating		 Activities 11,983 11,203
B Analysis ofcash and cash equivalents
Cash at bank and in hand 635 3,429
Total cash and cash equivalents 635 3,429

YEAR ENDED 31 MARCH YEAR ENDED 31 MARCH 2023
2. DONATIONS
AND LEGACIES		 2023 2022
L'000 L'000
Festivals 0 9
Other donations 52 59
Legacies 617 352
669 420
3. INVESTMENT INCOME 2023 2022
6'000 E'000
Interest on bank deposits 1 1
Income from investment portfolios 468 287
469 288
4. INVESTMENT MANAGEMENT COSTS 2023 2022
f'000 E'000
Investment
fund management		 88 98
Support costs 30 23
118 121
5. CHARITABLE ACTIVITIES 2023 2022
E'000 L'000
Masonic
Care and welfare support
Sickness and illness
Support Costs		 6,670
2,575
1,569		 6,475
3,731
1,562
10,814 11,768
Non-Ilasonic
Medical &Social Research Programme 283 484
Support Costs 5 6
288 490

YE AR ENDED 31 MARCH 2023
Non-
6. SUPPORT COSTS Cost of Investment Masonic Masonic Total Basis
Generating Management 2023 for
Funds Allocation
f'000 f'000 f'000 f'000 f'000
Relief Chest - Fundraising 0 0 0 0 0 (a)
Fundraising 0 0 0 0 0 (a)
Legacies 18 0 0 0 18 (a)
Masonic Support - Grants 0 0 259 0 259 (a)
Masonic Support - Advice &Support 0 0 270 0 270 (a)
Masonic Support - Provincial &Volunteers 0 0 89 0 89 (a)
Relief Chest - Charitable 0 0 48 0 48 (a)
Community
Support &Research		 0 0 0 3 3 (a)
Strategic & Impact 0 0 35 0 35 (b)
Executive 0 0 140 0 140 (c)
Finance 0 30 129 0 159 (c)
Digital &Technology 0 0 131 0 131 (b)
Human
Resources		 0 0 65 0 65 (b)
Communications 0 0 182 0 182 (b)
Governance 0 0 53 0 53 (b)
Facilities &Administration 0 0 157 0 157 (b)
Administration
and Support		 0 0 91 0 91 (b)
Facilities 8 Admin - Ruspini House 0 0 0 0 0 (b)
Other 0 0 (80) 2 (78) 1
18 30 1 569 5 1,622

SUPPORT COSTS:2022 Cost of Investment Masonic Non-
Masonic		 Total Basis
Generating Management 2022 for
Funds Allocation
E'000 L"000 8000 6'000 L'000
Relief Chest - Fundraising
Fundraising
Legacies
Masonic Support - Grants
Masonic Support - Advice 8 Support
Masonic Support - Provincial
&Volunteers
Relief Chest - Charitable
Community
Support &Research
Strategic &Impact
Executive
Finance		 14
15
16
0
0
0
0
0
0
24
13		 0
0
0
0
0
0
0
0
0
0
25		 0
0
0
278
276
84
48
0
12
152
158		 0
0
0
0
0
0
0
3
0
0
0		 14
15
16
278
276
84
46
3
12
176
196		 (a)
(a)
(a)
(a)
(a)
(a)
(a)
(a)
(b)
(c)
(c)
Digital &Technology
Human Resources
Communications
Governance
Facilities &Administration
Administration
and Support
Facilities &Admin - Ruspini
Other		 House 0
0
0
0
0
0
0
0		 0
0
0
0
0
0
0
(2)		 127
58
199
37
71
89
0
(27)		 0
0
1
0
0
0
0
2		 127
58
200
37
71
89
0
(27)		 (b)
(b)
{b)
(b)
(b)
(b)
(b)
82 23 1,562 6 1 673

YE AR ENDED 31 MARCH 2023 AR ENDED 31 MARCH 2023
8. INVESTMENTS March 2023 March 2022
Group Company Group Company
f'000 f'000 f'000 f'000
Current Asset Investments
-Managed
funds
RLAM Cash Reserve funds 18,047 18,047 26,467 26,467
18,047 18,047 26,467 26,467
MOVEMENTS IN INVESTMENTS
Balance at 1 April 2022 26,467 26,467 37,401 37,401
Additions 0 0 10,740 10,740
Disposals (8,720) (8,720) (22,830) (22,830)
Investment
income reinvested		 468 468 287 287
Management fees charged to the fund (21) (21) (43) (43)
Gains/(losses) (147) (147) 912 912
Balance at 31 March 2023 18,047 18,047 26,467 26,467
RECONCILIATION
TO SOFA
Gains/(losses) on listed investments (147) (147) 912 912
147 147 912 912

9. DEBTORS March 2023 March 2023 March 2022 March 2022
Group Company Group Company
f'000 f'000 f'000 f'000
Amounts
owed by group undertakings		 2 0 1 1
Prepayments and accrued income 2 2 4 3
Other debtors 200 201 112 112
204 203 117 116
10. CREDITORS March 2023 March 2022
Group Company Group Company
f'000 f'000 f'000 f'000
Falling due within one year
Grants payable 1,395 1,395 2,133 2,133
Amounts
owed		 to group undertakings 564 564 766 766
Accruals and deferred income 7 7 46 46
1,966 1,966 2,945 2,945
Falling due after more than one year
Grants payable 429 429 330 330
429 429 330 330

Street, London, WC2B 5AZ. The summary
of its results
March 2021 is shown as follows:		 for the year and its net assets as at 31
2023 2022
E'000 L'000
Gross income 109 9
Donation
to parent charity		 108 15
Net movement
in funds		 (6)
Total funds brought
forward		 8
Total funds carried forward 2
Represented
by net assets as follows:
Cash at bank and in hand
Amounts
owed by group undertakings

Total listed above 250,000 1
Overall Total 250,000
Discounting
of long term grants (movement)		 32,417
Per Accounts 282,417