2023-03-31-accounts - Masonic Charitable Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Contents		Page
Trustees' Annual Report
Strategic Report
Statement ofTrustees' Responsibilities
Auditor's Report		27
Consolidated Statement ofFinancial Activities		30
8alance Sheets		31
Consolidated Statement ofCash Flows		32
Notes to the Financial Statements		33
The following pages do not form part ofthe statutory accounts
Annex A —Grants made to Charitable	Institutions

Charity Name The Grand Charity		Legal Status Company limited by guarantee	Charity Registered No. 1170335	Membership Details MCF is sole company law	Trustee or Company Board MCF and Chairman ofMCF
The Grand Charity		Unincorporated tiust	281942	member MCF issole member	MCF is sole
The Royal Masonic Trust for Girls and Boys		Company limited by guarantee	1170336	MCF is sole company law	cor orate trustee MCF and Chairman ofMCF
The Royal Masonic Trust for Girls and B		Unincorporated trust	2S5S38	member Trustees ofMCF	MCF is sole
The RMIG Endowment Trust		Unincorporated trust	290883	MCF issole member	cor orate trustee MCF is sole
The Masonic Samaritan Fund		Company limited by guarantee	1130424	MCF is sole company law	cor rate trustee MCF and Chairman ofMCF
The Royal Masonic Benevolent Institution		Unincorporated trust	207360	member MCF issole member	MCF is sole
The Royal Masonic Benevolent Institution Com an The Royal Masonic Hos ital Chari	Care	Company limited by guarantee Unincorporated trust	1183245 205793	MCF issole company law member MCF issole member	cor rate trustee Directors/trustees of RMBICC MCF is sole
The Ruspini Fund		Unincorporated trust	1176327	MCF is sole member	cor rate trustee MCF issole
MCF Trading Limited RMBI Trading Limited Stability Investments Limited		Company limited by shares Company limited by shares Company limited by shares	N/A N/A	MCF is the sole shareholder RMBICC RMBICC and Latis Homes Limited	co orate trustee MCF appoints the directors RMBICC appoints the directors RMBICC and Latis Homes Limited
Compass Housing RMBI (Settlement) Limited 19/21 GQS Limited		Community Benefit Socie Company limited by shares Company limited by shares	N/A N/A	MCF, its chairman and CEO RMBICC RMBICC	a int directors MCF appoints the directors RMBICC appoints the directors RMBICC appoints the directors

support to beneficiaries eas ofgreatest need.	support to beneficiaries eas ofgreatest need.		and to	provide greater	flexibility in ensuring that support is prio	iitised tow	ards thos
Chari Name				Reference	Descrl tion ofChar
The Grand	Chari			TGC	Dormant: future income received ranted to the		MCF
The Royal	Masonic Trust for			RMTGB	Grant making: indMdual beneficiaries	and institutions,
Girls and Boys					focusing upon relief of poverty and advancement		of
					education for children
The Ruspini	Fund			Ruspini	Grant making: individual beneficiaries,	focusing	upon
					relief ofhardship ordistress of children
The RMIG	Endowment		Trust	RMIGET	Support for the Royal Masonic School	and masonic
					pupils at the school
The Masonic Samaiilan			Fund	MSF	Grant making: individual beneficiaries	and institutions,
					focusing upon health and disability, and medical		research
The Royal Masonic Benevolent Institution				RMBI	Grant making: individual beneficiaries, oflife care	focusing	upon end
The Royal Masonic Benevolent Institution		Care		RMBICC	Provision ofspecialist nursing and dementia registered care through operation ofcare homes
Company

thormes. Additionally lowing table.	, a number ofareas ofgovernance are delegated to the com	mitte	es det	ailed in the	ailed in the
Board/Committee	Purpose			Meetings
				r	ar
Trustee Board	Main decision-makin bod with ultimate res nsibili for the Chaii
Audit and Risk	identification and mitigation of risk (including cyber security), overs' ht ofexternal and internal audit
Charity Grants	Consideration ofapplications for grants from organisations	registered
	with the Charit Commission
Finance	Ensuring adequate procedures are in place to manage all aspects of
	financial lannin, controlli and re rtin
Fundraising	Supporting the Masonic community's fund raising activities	to support
	the Chari
Investments	Maintaining investment strategies to meet the requirements	ofthe
	Chari a ointment and monitorin offund mana ers
Masonic Support	Determining eligibility criteria and range ofgrants and support
	senrices to indMduals connected with the Masonic communi
Nominations	ointment oftrustees			As needed
Property	Development and execution ofstrategies to optimise the returns the Char' 's ro e ortfolio		from

The principal	The principal	risks identified	risks identified	risks identified	agreed actions to mitigate these are	shown in the following table:
		Risk			Cons uence	fimiti ation
Significant unexpected financial loss from operations					Reputational damage, loss of confidence with key stakeholders	Rrong financial procedures, particularly budgetary planning
					and impact upon continuing	and control. Oversight from the
					financial sustainabili	finance committee.
Inadequate liquidity to meet financial commitments					Poor service to beneficiaries and reputational damage. Withdrawal	Cash flow forecasting and liquidity planning within the
					ofke services from su liers	investment strat
Significant the value portfolio	long-term loss in ofthe investment				Impacts financial sustainability and reputational damage with donors	Appointment ofAsset Risk Consultants as expert investment advisors, providing monthly
						performance reporting and
						analysis. Oversight from
						investment and property
						committees.
Grants made outside Charity's Objects and operating guidelines				the	Reputational damage, loss of confidence with key stakeholders and potential trustee liability	Strong procedures and controls for processing grants. Oversight from Masonic Support and
						Chari Grants committees
Cyberattack		on ITsystems			All key operations are	United Grand I odge of England
					compromised	("UGLE")and ITnetwork
						providers have strong security
						procedures in place covering
						access, protection, backups and
						disaster recove facilities
Data protection breach					Reputational damage and	Data protection policy, ITsecurity
					si nificant financial nalties	and HR olicies in lace
Fraud					Financial loss, reputational	Financial procedures,
					damage, adverse impact upon	segregation ofduties, authority
					staff	limits, ITsecurity, increased
						awareness amon st staff
Unavailability ofoffice accommodation					Operations compromised	UGLE business continuity plan and remote worki rocedures
Loss ofpaper records fireNooding				from	Breach oflegal obligations, adverse impact upon operations,	Reduced reliance on paper records with increased use ofIT.
					tential financial enalties
Lack ofcompliance			with		Breach oflegal obligations,	HR procedures and staff
employment		legislation			potential financial penalties,	handbook. Induction processes
					breakdown ofstaff morale and	for new staff. Ongoing
					adverse impact upon service	management training and
					rovision	ersonal develo ment review
Undue reliance on key					Operational breakdown, adverse	HR procedures: organisational
persons					impact upon staff morale, poor	and succession planning,
					service to beneficiaries and	Comprehensive documentation	of
					tential re utational dame e	rocedures and controls

UKgreenhouse gas emissions and	Current Year
energy use data forthe period 1April 2022to31March 2023	2022/2$	2021/22	2020/21	2019/20	Units
Energy consumption used to calculate amissions	25,450,977	27,528,532	27,700,175	2$,536,643
Energy consumption break down
Gas total	19,975,023	21,657,456	21,999,504	22,468,982	kWh
Purchased fuel (generators)	13,356	5,106	7,473	information	kWh
				omitted
Electricity total	4,749,336	5,409,426	5,323,912	5,428,311	kwh
Transport fuel (company fleet)	313,004	226,958	254,747	27$,929	l(wh
Other Fuel (travel in employee-owned vehicles)	400,257	229,586	114,538	360,421
Sco e1emissions
Gas consumption	3,646	3,966	4,045	4,144	tCOse
Owned transport	79	55	63	98	tCOse
Other Fuel (generators)		1.21	1.7	N/A	tCO&e
Sco e2 amissions p
Purchased electricity	918	1,149	1,241	1,387	tCOie
Sco e3emissions
Business travel in employee-owned vehicles	99	57	28	128	tCOse
Total Gross amissions Intensity Ratio	4,746	5,228 4.55	5,379	5,756 5.35	tCOze tCOze/FTE

			Note	Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	Funds	Funds
				2023	2023	2023	2023	2022i
				E'000	f'000	E'000	E'000	E'000
INCOME
Donations and legacies				16,451	3,974	0	20,425	15,685.
Annual contributions from		Lodges		3.232	0	0	3.232	3,353
Charitable activities				0	47,092	0	47,092	46,440.
Investment income Transfer in ofCompass	Housing			1,763 0	6,573 0	141 0	8,477 0	71331' 99.
Other income				9	20	0	29	4
Total income				21,455	57,659	141	79,255	72,918
EXPENDITURE
Costofgenerating funds				(757)	(30)	0	(787)	(821
Investment management		costs		(670)	(1,417)	(29)	(2,116)	(1,610)
				1,427	1,447	29	2903	2,431
Charitable activities
Masonic grants Non-Masonic grants Residential and care hoines			6,7 6,7	(6,149) (3,362) 0	(10,122) (10,155) (64,395)	0 0 0	(16,271) (13,517) (64395)	(17,401) (12,262) (61223'
				9511	84672	0	94183	90,886
Total expenditure				10,938	86,119	29	97086	93,317 '
Net gains/(losses) on investments			13		8083	342	10726	20768
Net income/(expenditure)				7,532	(36.543)	454	(28,557)	366i
Transfers between funds				0	(300)	300	0	0
OTHER RECOGNISED GAINS/(LOSSES)
Actuarial gains/(losses)	on pension
scheme Pension Liability Buy out				0 0	(1,243) 36	0 0	(1,243) 36	1,876r 53l'
NET INOVEMENT IN FUNDS				7532	38050	754	29764	2295
Total funds brought forward				72516	333,103	10610	416229	413934I
Total funds carried forward				80,048	295,053	11,364	386,465	416,229

BALANCE SHEET as at 31March 2023	BALANCE SHEET as at 31March 2023	Note	March 2023	March 2023	March 2022	March 2022
Company Number	09751836		Group	Company	Group	Company
			5'000	FQQQ	E'000	E'000
FIXEDASSETS
Intangible assets		10	47	47	70	70
Tangible assets		11	77,002	312	77,299	388
investment properties		12	39,526	0	41,166	0
Investments		13	194,037	48,205	212,126	44,348
			310,612	48,564	330,661	44,806
CURRENTASSETS
Debtors		14	11,905	2,543	9,760	2,261
Investments		13	41,028	Q	43,274	0
Short term deposits			29,107	0	15,953	0
Cash at bank and in hand			17,872	6,291	28,763	4,273
			99,912	8,834	97,750	6,534
CURRENT LIABILITIES
Creditors falling due within one year		15	(14,930)	(3,463)	(14,356)	(2,924)
NET CURRENT ASSETS			84,982	5,371	83,394	3,610
TOTAL ASSETSLESSCURRENT
LIABILITIES			395,594	53,935	414,055	48,416
Creditors falling due after one year Pension scheme asset/(liability)		15 16	(11,952) 2,823	(500) 0	(1,785) 3,959	(393) 0
Total net assets			386,465	53,435	416,229	48.023
CHARITABLE FUNDS
Endowment funds		17	11,364	0	10,610
Restricted income funds		17,18	295,Q53	1,014	333,103	1,041
Unrestricted funds		17	80,048	52,421	72,516	46,982
Total charitable funds			386,465	53,435	416,229	48,023

Sir Paul Williams, OBE, KStJ, DL	Clive Emerson
Chairman	Treasurer

	CONSOLIDATED STATEMEN	T		F	CASH
	FLOWS					YEAR	ENDED 31	MARCH 2023
						Note	2023	2022'
							L'000	F000'
	Operating Activities
	Net cash provided by/(used in) Operating			Activities		A	27,379	29114
	Cash flows from investing activities
	Dividends, interest and rents from investments Proceeds from the sale oftangible fixed assets						8,477 1,072	7,331 2,021
	Purchase oftangible fixed assets Transfer in ofCompass Housing assets Purchase ofintangible fixed assets Proceeds from the sale ofinvestments						(5,614) 0 P) 38,747	(6,413), (77) (2) 61,280
	Purchase ofinvestments						(22,845)	(30,092)'
	Net cash provided by/(used in) Investing		Activities				19,830	34,048:
	Cash flows from financing activities
	Retail Charity Bond						10,000
	Bank loan issued						0	669
	Repaymentof bankloans						188	0
	Net cash provided by/(used in) Financing			Activities			9,812	669:"
	Change in cash and cash equivalents	in the			reporting
	period						2,263	5,603
	Cash and cash equivalents at the beginning			of	the reporting
	penod						44,716	39,113
	Cash and cash equivalents at the end	ofthe			reporting
	period					25		44,716:
	Notes on the cash flow statement
A	Reconciliation ofnet income/(expenditure)			to net
	cash flow from operating activities
	Net income/expenditure as per the Statement			of
	Financial Activities						(28,557)	366/
	Depreciation charges						3,662	4,070'
	Impairment oftangible fixed assets						0	0
	Non cash Fixed Asset Transfers from Compass				Housing		0	0'
	Dividends, interest and rents from investments						(8,477)	(7,331)'
	Losses/(gains) in investments (excluding within Movements in defined benefit pension scheme				cash balances)		8,070 (107)	(23,738)V 0I
	Loss on sale oftangible fixed assets						1,207	179
	(Increase) in debtors						(2,145)	(1,156)r
	Increase/(decrease) in creditors						968	1,504
	Net cash provided by/(used in) Operating		Activities				27,379	29,114

YE	AR ENDED 3	1 MARCH 2023	1 MARCH 2023	1 MARCH 2023
2.	DONATIONS	AND LEGACIES			Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	Funds	Funds
					2023	2023	2023	2023	2022
					f'000	f'000	f'000	f'000	f'000
	Festivals				10,128	1,130		11,258	6,470
	Other donations				1,741	1,859		3,600	4,467
	Legacies				4,582	985		5,567	4,751
					16,451	3,974	0	20,425	15,688
3.	CHARITABLE	ACTIVITES			Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	Funds	Funds
					2023	2023	2023	2023	2022
					f'000	f'000	f'000	f'000	f'000
	Residents' Fees Receivable					46,979	0	46,979	43,824
	Other charitable		income			113	0	113	2,616
					0	47,092	0	47092	46,440
4.	INVESTMENT	INCOME			Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	Funds	Funds
					2023	2023	2023	2023	2022
					f'000	f'000	f'000	f'000	f'000
	Interest on bank		deposits		77	382	0	459	7
	Income from investment			portfolios	1,686	3,792	141	5,619	4,066
	Rental income				0	1,812	0	1,812	2,867
	Interest income from pension scheme
	assets					587	0	587	391
					1 763	6,573	141	8,477	7,331

AR ENDED 31 MARCH 2023
INVESTMENT MANAGEMENT	COSTS	Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	Funds	Funds
		2023	2023	2023	2023	2022
		f'000	f'000	f'000	f'000	f'000
Investment fund management Property management		412 258	777 533	0 0	1,189 791	1,234 229
Support costs		0	107	29	136	147
		670	1,417	29	2,116	1,610
CHARITABLE ACTIVITIES		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	Funds	Funds
		2023	2023		2023	2022
		f'000	f'000	f'000	f'000	f'000
Masonic
Care and welfare support Poverty relief Sickness and illness Total Grants Support Costs		96 4,602 0 4,698 1,451	3,874 0 2,575 6,449 3,673		3,970 4,602 2,575 11,147 5,124	4,676 4,183 3,731 12,590 4,811
		6,149	10,122		16271	17,401
Non-Masonic
Air Ambulance and Rescue Services Armed Forces Arts, Culture &Sport Covid-19 Emergency Grants Disaster Relief Duke ofEdinburgh Award Early Interventions -Children &Families Education and Employability Environment, Conservation and		0 0 0 (20) 1,236 0 0 0	423 0 0 0 117 0 2,991 413		423 0 0 (20) 1,353 0 2,991 413	49 25 18 833 256 300 1,716 154
Heritage Festival Grants Freemasons Community Fund Health and Disability Hospices Isolation in Later Life Medical &Social Research Programme Other Charitable Purposes Royal Masonic School Total Grants Support Costs		0 146 0 0 600 963 0 219 0 3,144 218	47 0 176 1,672 217 0 364 835 2,656 9,911 244		47 146 176 1,672 817 963 364 1,054 2,656 13,055 462	13 80 0 2,018 836 828 519 999 3 171 11,815 447
		3362	10155		13,517	12,262

					Non-
SUPPORT COSTS		Cost of	Investment	Masonic	Masonic	Total	Basis
		Generating	Management			2023	for
		Funds					Allocation
		6'000	8'000	6'000	8000	8'000
Relief Chest - Fundraising		282		0		282	(a)
Fundrsising		268		0		268	(a)
Legacies		92		0		92	(a)
Masonic Support - Grants		0		855		855	(a)
Masonic Support - Advice &Support Masonic Support - Provincial &		0		889		889	(a)
Volunteers				294	0	294	(a)
Relief Chest —Charitable				143	12	155	(a)
Community Support &Research Strategic Development &Special				0	287	287	(a)
Projects		0	0	116	8	124	(b)
Executive		100	0	374	27	501	(c)
Finance		46	138	257	19	480	(c)
information Technology		0	0	436	32	468	(b)
Human Resources		0	0	218	16	232	(b)
Communications		0	0	807	44	651	(b)
Governance		0	0	176	13	189	(b)
Facilities &Administration		0	0	523	38	561	(b)
Administration and Support		0	0	304	22	326	(b)
Facilities &Admin - Ruspini	House	0	0	9	1	10	(b)
Other		(1)	(2)	(75)	(57)	(135)
		787	136	5124	482	8509

SUPPORT COSTS:2022	Cost cf	investment	Masonic	Non- Masonic	Total	Basis
	Generating	Management			2022	for
	Funds					Allocation
	F'000	L"000	L000	f.'000	f.'000
Relief Chest - Fundraising Fundraising Legacies Masonic Support -Granbr Masonic Support - Advice &Support Masonic Support - Provincial &	286 309 81 0 0		0 0 0 833 827	0 0 0 0 0	286 309 81 833 827	(a) (a) (a) (a) (a)
Volunteers Relief Chest - Charitable Community Support &Research Strategic Development &Special Projects Executive Finance information Technology Human Resources Communications Governance Facilities 8 Administration Administration and Support Facilities 8 Admin - Ruspini House Other	0 97 51 0 0 0 0 0 0 0 (3)	0 0 152 0 0 0 0 0 0 0 (5)	250 127 0 36 363 283 380 174 594 112 214 267 26 325	0 10 285 3 26 21 28 13 43 8 15 19 2 (26)	250 137 285 39 486 507 408 187 637 120 229 286 28 291	(a) (a) (a) (b) (c) (c) (b) (b) (b) (b) (b) (b) (b)
		147	4811	447	6226

YE	AR ENDED 31 MARCH 2023
9.	STAFF COSTS	2023	2022
		f'000	f'000
	Wages and salaries	33,164	33.337
	Social security costs Pension contributions	2,859 1,053	3,520 1,050
	Employee benefits	176	175
	Redundancy	6	14
		37,258	38,096
	AVERAGE NUMBER OF STAFF	2023	2022
	Generating funds	14	12
	Grant making activities	78	78
	Care home operations	999	1,060
		1 091	1,150
	STAFF EARNING MORE THAN E60,000 (INC. BENEFITS)	2023	2022
	E60,000tof70,000	19	17
	E70,001 toE80,000 f80,001 to E90,000 f90,001 tof100,000	6 5 4	6 6 3
	f100,001 tof110,000	0	0
	E110,001 tof120,000	3	4
	f120,001 tof130,000	1	0
	f130,001 tof140,000	0	0
	f140,001 tof150,000	0	1
	f150,000to E160,000	0	0
	f160,001 tof170,000	1	0
	f170,001 tof180,000	0	1
	f180,001 tof190,000	1	0
	Total	40	38

				Assets
10.	INTANGIBLE FIXED	ASSETS	Computer	under
	Group and Company		Software	Construction	Total
			6"000	f'000	R'000
	Balance at 1 April 2022		277		277
	Additions		0		7
	Transfer ofcompleted	projects	0		0
	Balance at 31 March 2023		277		284
	Depreciation
	Balance at 1 April 2022 Charge for the year		(207) (30)	0 0	(207) (30)
	Balance at31 March 2023		237	0	~237
	Net book value
	At 31 March 2023		40		47
	At 31 March 2022		70		70

Group					Computers,	Assets
		Freehold	Leasehold	Motor	Equipment	under
		Buildings	Buildings	Cars	& Furniture	Construction	Total
		P000	f'000	5'000	P000	5'000	5'000
Balance at 1 April 2022		98,823	1,494	952	9,348	11,904	122,521
Additions Transfers ofcompleted	build to	2,717	6	56	539	2,296	5,614
freehold buildings		11,256	0	0	0	(11,256)	0
Disposals		(3,230)	0	(96)	(2,449)	0	(5,775)
Balance at 31 March 2023		109566	1,500	912	7438	2,944	122360
Depreciation
Balance at 1 April 2022		(37,746)	(602)	(921)	(5,953)	0	(45,222)
Charge for the year		(2,584)	(88)	(31)	(929)	0	(3,832)
Dlsposais		1,064	0	87	2,345	0	3,498
Balance at 31 March 2023		39266	690	865	4537	0	45358
Net book value
At 31 March 2023		70,300	810	47	2,901	2,944	77,002
At 31 March 2022		61O77	892	31	3,395	11,904	77,299

T R	ES TO THE FINANCIAL STA ENDED 31 MARCH 2023	TEMENTS
b)	Charity		Leasehold	Computers,
			Buildings	Equipment &		Total
			K'000	Furniture		6'000
				F'000
	Cost
	Balance at 1 April 2022		652	210		862
	Additions		0	32		32
	Balance at 31 March 2023		652	242		894
	Depreciation
	Balance at 1 April 2022 Charge for the year		(336) (65)	(138) (43)		(474) (108)
	Balance at 31 March 2023			181		~582
	Net book value
	At 31 March 2023		251	61		312
	At 31 March 2022		316	72		388
INVESTMENT PROPERTIES		March	2023	March	2022
		Group 6'000	Company L'000	Group L'000	Company 6'000
Balance at 1 April 2022 Additions Disposals Change in market value Balance at 31 March 2023		41,166 358 0 1,998 39526	0	39,424 262 0 1,480 41,166		0 0 0 0

YEA	R ENDED 31 INARCH 2	023
13.	INVESTMENTS		March	2023	March	2022
			Gmup	Company	Group	Company
			K'000	K'000	L'000	8000
	Fixed Asset Investments:
	-Managed Funds
	MCF CAIF		184,563	44,705	203,401	40,848
	CCLA Property Fund		666	0	757	0
	Investment in MCF Trading Social investments	Limited	0	3,500	0	3,500
	- Ruspini House		4,004	0	3,800	0
	- Royal Masonic School		3,621	0	2,952	0
	- Loans to beneficiaries		1,183	0	1216	0
			194037	48205	212126	44,348
	Current Asset Investments
	- RLAM Cash Reserve funds		40,965	0	43,269	0
	- Cash and cash equivalents		63	0	5	0
			41,028	0	43274	0
			235,065	48205	255,400	44,348
	MOVEMENTS IN INVESTMENTS
a)	Listed and unlisted
	Balance at 1 April 2022		247,432	44,348	257,704	31,376
	Additions		22,009	4,900	29,715	9,500
	Disposals		(38,640)	0	(61,136)	0
	Transfers from/(to) group undertakings		0	0	0	0
	Investment income reinvested		5,589	1,075	4,032	713
	Management fees charged	to the fund	(994)	(204)	(1,062)	(188)
	Gains/(losses)		(9,197)	(1,914)	18,173	2,947
	Changes in cash balances	held	58	0	6	0
	Balance at 31 March 2023		226 257	48,205	247,432	44,348
b)	Social
	Balance at 1 April 2022		7,968	0	6,883
	Additions		404	0	0
	New loans issued		74	0	115
	Loans repaid		(107)	0	(144)
	Revaluation		469	0	1 114
	Balance at 31 March 2023		8,808	0	7,968

The RMBI Pension and Life Assurance Fund ("the Fund")Isafunded defined bene provides retirement benefits based on final pensionable salary.	The RMBI Pension and Life Assurance Fund ("the Fund")Isafunded defined bene provides retirement benefits based on final pensionable salary.	The RMBI Pension and Life Assurance Fund ("the Fund")Isafunded defined bene provides retirement benefits based on final pensionable salary.	The RMBI Pension and Life Assurance Fund ("the Fund")Isafunded defined bene provides retirement benefits based on final pensionable salary.	fit arrangement which	fit arrangement which
The valuation used for FRS102disdosures has been based on a full assessment				ofthe liabilities ofthe
Fund. Dn 30 September 2010 the scheme stopped	accruing	benefits	to its	members	and all the
employees at that time were transferred to the group	Personal	Pension	Scheme. Hence, there is no
current service cost for the defined benefit scheme and all contributions			in note 9relates to the defined
contribution scheme.
iii. Principal actuarial assumptions at the balance sheet	date:
The results ofthe last valuation as at 31 March 2019have been updated to31 March 2023 independent actuary. The assumptions used were as follows:					by a qualified
Si actuari ss		March 2023			March 2022
Discount rate			4.8%		2.7%
Rate of inflation (RPI)			3.3%		3.9O/o
Rate of inll ation (DPI)			2.7%		3.3%
Others rial assum i s
Rate ofincrease in pensionable salaries			3.3%		3.9'/o
Rate cfincrease in pensions- Post 88GMP			2.3%		2.6%
Rate ofincrease in pensions —Pre 97XS			0.0%		0.0%
Rate ofincrease in pensions —Post 97pension			3.F%%d		3.7%
Itive ofincrease in pensions —Post 05pensions			2.3%		2.4%
Revaluation ofdeferred pensions (non-GMP)			3.3%		3.9%

PROVISIONS FOR PENSIONS (Continued)	PROVISIONS FOR PENSIONS (Continued)	PROVISIONS FOR PENSIONS (Continued)
c)	I Pen ' nSc tin			Ithtgh~023	M~att2k22
Morteiit		assum tions:
				as per	as per
				post	post
Mortality before retirement				retirement	retirement
Mortality before and after retirement -63PMA			/ S2PMA	100%	112%
Mortality before end after retirement -S3PFA / S2PFA				100%	120%
Lif	ex	nc ears
	For an individual aged 65 in 2023
		—Males		21.4	21.1
		-Females		23.8	23.0
	At age 65for an individual aged 45 in 2023
		-Males		22.7	22.4
		-Females		25.3	24.5
iv.		CHANGES IN PRESENT VALUE OF DEFINED BENEFITS OBLIGATION		F.'000	K'000
		Balance at 1 April 2022 Past service cost		18,234 0	20,184 0
		Interest cost		480	354
		Actuarial losses/(gains) Benefits paid		(2,964) (928)	(1,300) (1,004)
		Balance at 31 March 2023		14,822	18,234
		CHANGES IN FAIR VALUE OF SCHEME ASSETS		E'000	F'000
		Balance at 1 April 2022 Interest income		22,193 587	22,230 391
		Administration expenses Actuarial gains/(losses) Employer contributions Benefits paid		0 (4,207) 0 (928)	0 576 0 (1,004)
		Balance at 31 March 2023		17645	22,193

VEAR	ENDED 31MARCH 2023	ENDED 31MARCH 2023
16.	PROVISIONS FOR PENSIONS (Continued)
	c) RMBI Pension Schemes		Continued	March 2023	March 2022
	vi.	FAIR VALUE OFASSETS		6'000	L'000
		Equities		0	4,361
		Properties		0	0
		Corporate bonds		0	3,764
		Fixed interest gilts		0	0
		Index linked gilts		0	2,144
		Liability-driven investments		0	3,512
		Diversified growth and	credit funds	0	7,876
		Buy out aware funds		17,538	0
		Cash		107	536
				17,645	22,193
		The return on the assets was:
		Interestincome		587	391
		Return on assets less	interest income	(4,207)	576
		Total return on assets		3,620	967
		RECONCILIATION TO THE BALANCE
	vii.	SHEET		E'000	L'000
		Market value ofassets		17,645	22,193
		Present value ofdefined benefit obligation		(14,822)	(18,234)
		Net surplusf(deficit)		2823	3,959
	viii.	RECOGNITION IN SOFA		E'000	f'000
		Resources expended
		Past service cost		0	0
		Administration costs		0	0
		Interest on obligation		480	354
		Interest return on fund	assets	(567)	(391)
				107	37
		Other recognised gains/(losses)
		Actuarial gains/(losses)	in the defined benefit
		obligation		2,964	1,300
		Return on assets less interest Income		(4,207)	576
				1,243	1876

MOVEMENT IN FUNDS	MOVEMENT IN FUNDS		Balance at	Income	Expenditure	Gains/	Transfers	Balance at
Prior Year			1 April			(losses)		31 March
			2021					2022
			8000	k'000	K'000	E'000	F'000	E'000
Endowment funds
RMIG Endowment Trust Royal Masonic Benevolent			13,797	156	(47)	1,823	(5,200)	10,529
Institution Care Company			246	0	0	0	(165)	81
			14,043	156	47	1,823	5,365
Restricted funds
Relief Chest Royal Masonic Trust	for		21,797	10,567	(9,577)	0	0	22,787 .
Girls and Boys			154,672	3,149	(10,536)	11,201	0	158,486
Ruspini			1,187	25	(28)	107	0	1,291-
RMIG Endowment Trust			993	1,875	(3,222)	0	5,200	4,646
Compass Housing			0	101	(5)	0	0	96
Masonic Samaritan	Fund		37,572	699	(12,462)	912	15	26,736
Royal Masonic Hospital Royal Masonic Benevolent			8	10	0	0	(15)	3,
Institution Care Company			115,936	54,163	(61,138)	4,069	430	113,460
Victor Donaldson Specific gifts, donations		and	2,501	112	(25)	0	0	2,588
legacies for homes Prince Edward Duke	ofKent		992	203	(161)	0	(264)	770 .
Court, Essex			328	0	(3)	0	0	325
L H Miles			568	0	(5)	0	0	563.
Frederick Philips Fund			949	18	(7)	81	0	1,041
Intragroup
(income)/expenditure			0	(13,122)	13,122		0	0-
Other			113	2	(3)		(1)	111 .
			337,616	57802	84050	16370	5,365	333,103
Unrestricted funds
General reserves			61,292	14,957	(9,220)	4,504	80	71,613
Designated reserves			983	0	0	0	(80)	903;
			62275	14957	9220	4504	0	72,516
Total funds			413934	72,915	93,317	22697	0	416,229!

Fund Name Relief Chest Scheme			Pu ose ofFund To maintain Relief Chests to recognised masonic
			organisations, which are used to generate funds for all types ofcharitable u oses
Transferred Beneficiaries		Fund	Relief ofpoverty for named former beneficiaries ofthe Royal Masonic Benevolent Institution
Royal Masonic Trust for Girls and Bo			Relief ofpoverty and advancement ofeducation
Ruspini			Relief of need, hardship and distress ofthe children of
			freemasons
Royal Masonic Institution Girls Endowment Trust		for	Support forthe Royal Masonic School and masonic pupils at the school
Masonic Samaritan Fund			To advance health and relieve those in need by reason of ill- health or disability through the provision ofmedical assistance, support, treatment, care and advice.
			Commissioning ofresearch that is anticipated to offer benefits to beneficiaries
Royal Masonic Hospital			Relief ofpoverty amongst freemasons and their dependants who are sick or infirm. All income is transferred to the
Royal Masonic Benevolent Institution			Masonic Samaritan Fund to further this u ose Relief ofneed, suffering and distress through provision of accommodation in residential care facilities or sheltered
			accommodation
Victor Donaldson Fund			To advance secured loans to beneficiaries toenhance their uali oflife
Specific gifts, donations acies for homes Hutchin son	and		Forthe specmc use ofcare homes towards costs of improving facilities for the benefit ofresidents Toassist dependants ofneedy freemasons towards education costs
Prince Edward Duke of Court Essex L H Miles	Kent		Donation by Mark Master Masons for the development ofthe Thomas Were Howard House Grou To provide financial relief for Essex masons in Prince Edward Duke ofKent Court
Other			Various funds consisting ofamounts under f50kfor varying ui' oses

ANALYSIS OF NETASSETS	ANALYSIS OF NETASSETS	BETWEE	N FUNDS FO	R THE GROU	P
ASSETS AND LIABILITIES		Fixed	Investment	Investments	Current	Liabilities	Fund
31 March 2023		Assets	Properties		Assets		Total
		6'000	L'000	E'000	L'000	f.'000	6000
Endowment	funds			9,282	2,082	0	11,364
Restricted	funds	76,690	36,512	117,524	84,188	(19,861)	295,053
Unrestricted	funds
General reserves		359	3,014	67,231	12,928	(4,198)	79,334
Designated	reserves	0	0	0	714	0	714
		359	3014	67,231	13,642	4,198	80,048
Total funds		77,049	39,526	194,037	99,912	24059	386465
ASSETSAND LIABILITIES		Fixed	Investment	Investments	Current	Liabilities	Fund
31March 2022		Assets	Properties		Assets		Total
		L'000	K'000	F.'000	2000	f'000	L'000
Endowment	funds			10,529	81	0	10,610
Restricted funds		76,911	41,087	139,030	86,637	(10,562)	333,103
Unrestricted	funds
General reserves		458	79	62,567	10,129	(1,620)	71,613
Designated	reserves	0	0	0	903	0	903
		458	79	62567	11032	1620	72,516
Total funds		77369	41,166	212,126	97,750	12182	416,229

				O	r	N 'll ID	0 N ca NO IDg	0 N ca NO IDg	0 N ca NO IDg	m	m		ID0 N0				Ol
				00 O la g DZ ID	0	CO	0		CO I	g	O						0	0
		IL 0		DI 0 0 O .0 8 pI-	O	0	O		O 0	O		0 O ID PJ	10 Ca	O Ial	0 0		0	O		00 ID
				OO U R CC.'					ID 9 N ID			Ca CD CD 1		N 0 N 0	I N Ccl Cl		COI N		CD	aa0 CD 'll
				Q O 0 oo IQ 4l K		N DIO0 T	al		ID	N ID ID CD0	0		CD0 NN	O O CD CO CD	Ch O N	DI N0			I N	N ID CD0
				IL 0 ID yo N c8 W N		'CIN0	0		R N					0	I CO CO CD		ID CD N 0	0
				C O 5 o 4l ID N ONe					ID I N	N	O	alN	CO			ca N	0 0	0
				DC
Z0I-	N Iz	I	ionia r N v CL' 4l moiO CL'		Cl O Cl ID N ID C9				CD 0 I c N N	IN		IN		Dl N	O N	0 ID	O 0 CV 0 N0 0 O I ICi			IN
D0	LllR I VJ	lO IO 0	0 g 0 4C O ID g aa V		0 DI 'It0			0 00 N N N			O	ID		O 00 N			0 N ID I		ICI I	N
IQ Z cC O O 0 V)	CIC CD Q CVj X K Ill CD I Ci Ol Ql IQ o ~ z 0	C O N C) DC		I D P Va "mz				I, z				la D IL					I D D F a Re 0 0 IL		Tl W I

			Oom0 ctc 0 0	Oom0 ctc 0 0	Oom0 ctc 0 0	Oom0 ctc 0 0	X N	0		m 0 In	o N0 r	0 N								Cc 0 N	cn 0 m	0	m
		cnE	0 0 ln CC	O 0 0 4c	0	ln	0								0		r	0 0	m
		O
			0 C 'D	O 0	0	0	0	0	0	0	0		00 lA	0 Irr	0	O	P			0 cn	0	0		00 IO
			EI-										m	m
					cn 0 N	0 0 N	m N 0			ID 5	g r I				0 IO O	O			N0			0
		Q	Q () ICI	O 0 Ctr		m		0 O	m			cn IQ					0 Nr r I0	N cn						r0 r
		N E	n- V&	o g	cn 0	Q Ctl	N	'lC00	0		0 cn m	0 I0 N		I0 N	0	0	0	'll00	0 cn	Cct N				0 cn r0 N	0 CO CA ClOI
		0		0 nl	4	0	I	0	O	o	cn			0 N	0 mN	0					0	0		0 N	cn Q.
			y
		L0 IL	og %or ctr m			g	r crl v-	cn0 cn		0 cn	Icn cl cn	00 N			0 N r	O	p Q	cn N		0	0	0
		CO Ill2	CQ e IX	O g	cn m	ID o	g I	cn m	0	0 m	N 0 lO					O	0	0		R% N IO
I~C I		Ci CO CO CO CO	U	OI0 4I	Q	m	N	~	O						0	o	o	m EO N	m lO0 N C	st	r	0
																					I
	cm	CO
	CO N	I																			Ct
2	Q	CO lllC
CL lllZ I	en 0	O IU CO			cn E	p D c	IC cn													5 O	co		I
		E CO			C4		~								gu.	0	Ja I cn	g 0		e	g	E
		C5 N

(Including an income and Expenditure	Account)			IN	ARCH 2022
	Note	Unrestricted	Restricted	Endowment	Total
		funds	funds	funds	Funds
		2022	2022	2022	2022
		K'000	L'000	L'000	t."000
INCOME
Donations and legacies Annual contributions from Lodges Charitable activities Investment income Transfer in ofRMIGET net assets Other income		10,488 3,353 0 1,112 0 4	5,200 0 48,440 6,063 99 0	0 0 0 156 0 0	15,688 3,353 46,440 7,331 99 4
Total income		14,957	57,802	156	72,915
EXPENDITURE
Cost ofgenerating funds Investment management costs	5	(596) (408)	(225) (1,155)	(47) 0	(868) (1,563)
Charitable activities		1,004	1,380	~42	(22431
Masonic grants Non-Masonic grants Residential and care homes	(5,663) (2,553) 0 ~8218		(11,738) (9,709) (61,223) 82,810	0 0 0 0	(17,401) (12,262) (61,223) 90886
Totalexpenditure Net gains/(losses) on investments		9,220 4,504	84,050 14,441	47 1823	93,317 20,768
Net income/(expenditure) Transfers between funds OTHER RECOGNISED GAINS/(LOSSES)		10,241	(11,807) 5,365	1,932 (5,365)	366 0
Actuarial gains/(losses) on pension
scheme Pension Liability guy out		0 0	1,876 53	0 0	1,876 53
NET MOVEMENT IN FUNDS Total funds brought forward Total funds carried forward		10,241 62,275 72,516	4,513 337,616 333,103	3,433 14.043 10,610	2,295 413,934 416,229

CAPITAL COMMITMENTS	CAPITAL COMMITMENTS		March	2023	March	2022
			Group	Company	Group	Company
			F'000	E'000	E'000	E'000
Construction	and refurbishment	ofcare
homes:
-contracted	for		0	0	891
-authorised	but not contracted	for	852	0	1,068
			852	0	1,959

Charity		Grant E				Purpose
Disaster Relief
British Red Cross	Society	100,000	Support	for	Ukrainian	refugees
British Red Cross	Society	15,000	Support	for	relief efforts from flooding		in	Pakistan
British Red Cross	Society	106,000	Reuniting	FamiTies
British Red Cross	Society	20,000	Support for Earthquakes		relief efforts from Turkey and			Syria
Plan international	UK	100,000	Support	for	Ukrainian	refugees
Plan International	UK	20,000	Support	for	Ukrainian	refugees
The Refugee Council		100,000	Support	for	Ukrainian	refugees
UK Community Foundations		500,000	Partnership Refugees in		with UKCFtowards supporting the UK			Ukrainian
UK for UNHCR		100,000	Support	for	Ukrainian	refugees
UKfor UNHCR		20,000	Support	for	Ukrainian	refugees
UKfor UNHCR		20,000	Support	for	relief efforts forTurkey and Syria Earthquah
UNICEF UK		100,000	Support	for	Ukrainian	refugees
UNICEF UK		15,000	Support	for	relief efforts fmm flooding		in	Pakistan
UNICEF UK		20,000	Support for earthquakes		relief efforts towards Turkey and Syria
Total		1,236,000	14

IIASONIC CHARITABLE	FOUNDATION
Wolves Foundation	38,000	Golden Wolves
Total	987&500	36
Medical Research
Action Medical Research	250,000	The Masonic C Research Traini
Total	250,000	1

Other Charitable Pur ose	Other Charitable Pur ose	s
1262 SQUADRON AIR TRAINING			CORPS	2,393
6th Gosport Air Scout Group				249
Abingdon Food Bank				1,000
Acts Fast				1,500
Age Concern/Connects Torfaen				1,000
Age UK Leicestershire and Rutland				2,000
Alford Corn Exchange Community			Group	500
Alnwick District Foodbank				5,000	C
Aylsham &District Care Trust				500	C
BEEPDoctors (BASICSCumbria)		Limited		700	C
Bexley Foodbank C/0 Avery Fellowship	Hill	Christian			C
Bexley Snap				2,500	C
Billericay Food Bank				2,000	C
Bishop's Stortford Foodbank				2,000	C
Black Country Food Bank Limited				1,250	C
Blackburn Foodbank				644	C
Blaenau Gwent Otters Swimming the Disabled			Club for	1,000	C
Blood Bikes Cumbria				175	C
Blood Bikes SERV - Oxfordshire				3,250	C
Bloodbikes Wales				5,000	C
Bluebells Day Centre				1,000	Co
Borehamwood Foodbank				2,000	Co
Braintree Area Food Bank				1,100	Co
Braintree Area Food Bank				300	Co
Branching Out				610	Co
Brighter Futures				2,500	Co
Brookfields School Association				1,348	Co
Buckfastleigh Foodbank				3.333	Co
Cancer Support UK				1,050	Co
Canine Partners				1,000	Co
Care After Combat				500	Co
Carers Support Centre				500	Co
Caring in Bristol				2,000	Co
Carlisle and West Cumbria Advanced
Motorists				250	Cor
				Page 67of	74

MASONIC CHARIT	MASONIC CHARIT	ABLE	FOUN	DATION
Lincoln Unit 214ofthe Sea		Cadets		500	Core Funding	(Matched	Provincial	donation)
Lincolnshire Rural Support		Network		500	Core Funding	(Matched	Provincial	donation)
MacMillan Cancer Support				500	Core Funding	(Matched	Provincial	donation)
MACS				1,000	Core Funding	(Matched	Provincial	donation)
Magpas Air Ambulance				10,000	'Core Funding	(Matched	Provincial	donation)
Maidenhead Foodshare				1,000	Core Funding	(Matched	Provincial	donation)
Nlaldon Council of Churches				250	Core Funding	(Matched	Provincial	donation)
Manx Blind Welfare Society				250	Core Funding	(Matched	Provincial	donation)
Manx Blind Welfare Society				500	Core Funding	(Matched	Provincial	donation)
lyianx Breast Cancer Support Group				1,530	Core Funding	(Matched	Provincial	donation)
Marie Curie				500	Core Funding	(Matched	Provincial	donation)
Marie Curie (Grimsby, Cleethorpes			and	500	Core Funding	(Matched	Provincial	donation)
District Branch)
Marjorie McClure School				3,420	Core Funding	(Matched	Provincial	donation)
Martlets Hospice				10,000	Core Funding	(Matched	Provincial	donation)
Marvels gt Me}tdowns				250	Core Funding	(Matched	Provincial	donation)
MarwoMoZE lhfant'5'chooi	(Great Ayton)			360	Core Funding	(Matched	Provincial	donation)
School Fund
Matt Hampson Foundation				1,000	Core Funding	(Matched	Provincial	donation)
Michael Roberts Charitable		Trust		1,000	Core Funding	(Matched	Provincial	donation)
Military Wwes Choirs Foundation				250	Core Funding	(Matched	Provincial	donation)
Mindstep Foundation				1,000	Core Funding	(Matched	Provlnclai	donation}
Molly Oily's Wishes				1,000	Core Funding	(Matched	Provincial	donation)
Motor Neurone Disease Association			(isle	500	Core I-unding	(Matched	Provincial	donation)
ofMan) Lknhed
Mottingham Foodbank (St	Edmond's			500	Core Funding	(Matched	Provincial	donation)
Church Council)
Move the Masses				360	Core Funding	(Matched	Provincial	donation)
Multiple Sclerosis Society-	Gosport		and	600	Core Funding	(Matched	Provincial	donation)
Farehem
Multiple Sclerosis Trust				1,000	Core Funding	(Matched	Provincial	donation)
My Sisters Place				720	Core Funding	(Matched	Provincial	donation)
NATIONAL COUNCIL OF YOUNG MEN'5
CHRISTIAN ASSOCIATIONS				500	Core Funding	(Matched	Provincial	donation)
(INCORPORATED)
Newbury Soup I0tchen				1,000	Core Funding	(Matched	Provincial	donation)
Newmarket Open Doors Food Bank				1,200	Core Funding	(Matched	Provincial	donation)
Newport (Pembs) Surf Life	Saving Club			5,000	Core Funding	(Matched	Provincial	donation)
Newport Unit 251ofthe Sea Cadet Corps				500	Core Funding	(Matched	Provincial	donation)
Next Steps Mental Health Resource				900	Core Funding	(Matched	Provincial	donation)
Centre
Nightsafe Ltd				1,393	Core Funding	(Matched	Provincial	donation)
North Yorkshire Hospice Care				432	Core Funding	(Matched	Provincial	donation)
Northamptonshire Health Charitable				1,500	Core Funding	(Matched	Provincial	donation)
Fund
Northamptonshire Search and Rescue				613	Core Funding	(Matched	Provincial	donation)
Northern Hull Community Rainbow				679	Core Funding	(Matched	Provincial	donation)
Gardens
Nourish Community Foodbank				500	Core Funding	(Matched	Provincial	donation)
				Page 70of74

On Your Bike (Recycle) Ltd	500
Parish ofSt.Thomas and Kilvey Parochial Church Council	500
Parkinsons Disease Society (Grantham Branch)	500
Patterdale Mountain Rescue Association Peterborough fk District Riding for the Disabled Association	2,000 1,000
Pied Piper Appeal Plymouth Foodbank Porthtowan Surf Life Saving Club Priscila Bacon Hospice Project Turn-Over Purfleet Trust Raven House Trust Limited Re:store Northampton Read for Good Reubens Retreat Riding forthe Disabled Herefordshire. Rochdale Foodbank Roots Independent Street Team Rosmini Centre Wisbech Routes to Roots Rushen Endowment Fund Salford Food Bank Salford Women's Aid Salisbury Trust for the Homeless Salisbury Unit 296ofthe Sea Cadet Corps Salisbury Women's Refuge Salvation Army Scarborough Social Action Centre	2,000 3,333 500 500 4,500 500 1,000 2,500 1,000 2,500 1,000 645 2,000 1,500 1,500 250 500 653 1,000 1,000 2,500 500
(Rainbow Centre)	360
Service Dogs UK South West Hub Severn Area Rescue Association Shaw Cross Boys Club Shepshed Toy Ubrary Shildon Alive Shrewsbury Foodhub Sight Cymru Simon Says Children and Young People' s Bereavement Support	2,186 1,000 2,400 1,000 1,000 10,000 1,000 500
Soberton and Newtown Company ofGirl Guides Association	250
SOFEA Southend Food Bank Southend Vineyard Southern Area Domestic Abuse Service Special Stars Foundation	2,250 500 500 500 216

Overall Total	12,988,$66
Discounting ofiong term grants
(movement)	65,189
Per Accounts	13,054,055