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2023-03-31-accounts
Contents Page
Trustees' Annual
Report
Strategic Report
Statement ofTrustees'
Responsibilities		 12
Auditor's Report 13
Statement ofFinancial Activities 16
Balance Sheet 17
Statement ofCash Flows 18
Notes to the Financial Statements
The following
pages do not form part ofthe statutory accounts
Annex A —Grants made to Charitable Institutions

Executive
The Executive during the year to 31"March 2023were:
Les Hutchinson,
Chief Executive
Charles Angus, Group Finance Director
Brenda Nurse, Company
Secretary
Auditor
Knox Cropper LLP, Chartered
Accountants,		 65 Leadenhall Street, London, EC3A 2AD
Bankers
Barciays Bank Pic, Level 28, 1 Churchill
Place, Canary		 Wharf, London, E145HP
National Westminster
Bank Pic, Bloomsbury		 Parr*s Branch, 214 High Holborn,
London, WC1V 7BX
Investment
Advisors
Asset Risk Consultants
Limited, 7 New Street, St. Peter		 Port, Guernsey, GY1 2PF
Investment
Managers
CCLA, Senator House, 85Queen Victoria Street, London, EC4V4ET
Sarasin &Partners
LLP, Juxon House, 100		 St. Paul's Churchyard,
London, EC4M 8BU
Royal London Asset Management
Ltd. ,55Gracechurch		 Street, London, EC3VOUF
Thesis Unit Trust Management
Ltd, Exchange
Building,		 St John's Street, Chichester, West Sussex
PO19 1UP
Waverton
Investment
Management
Ltd., 16		 Babmaes Street, St.James, London, SW1Y6AH
Solicitors
Stone King LLP, Boundary House, 91 Charterhouse
Street,		 London, EC1M6HR

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 Chadity 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
Chari
Audit and Risk IdentiTication
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 ects offinancial
lannin,
controllin
and re
rtin .
Fundraising Supporting
the masonic community's
fund raising activities		 to
su
ort the Chari
Investments Maintaining
investment
strategies
to meet the requirements		 of
the Chari, a
intment
and monitorin
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
ortfolio
Remuneration Determination
ofexecutive and staff pa
&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 risks identified risks identified risks identified risks identified risks identified and agreed actions to mitigate are shown
in the following table:		 shown
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		 of planning
within the Investment
commitments ke
services from su
liers		 Strate
Significant long-term loss Impacts financial
sustainability		 and Appointment
ofAsset Risk
in the value ofthe reputational
damage
with donors		 Consultants
as expert investment
investment portfolio advisors,
providing
monthly
performance
reporting
and
analysis.
Oversight
from
investment
and property
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
laceforall staff
Data protection breach Reputational
damage and		 Data protection
policy, ITsecurity
si nificant financial
enalties		 and HR
olicies in
lace
Fraud Financial loss, reputational Financial procedures,
segregation
damage, adverse impact upon staff ofduties,
authority
limits,
IT
security,
increased awareness
amon
st staff
Unavailability ofoffice Operations
compromised		 UGLE Business
Continuity
Plan
accommodation
Loss ofpaper records Breach oflegal obligations, Reduced reliance on paper records
from fireffiooding adverse
impact upon operations,		 with increased
use of IT.
otential financial
nalties
Lack ofcompliance with Breach of legal obligations, HR procedures
and staff
employment legislation potential
financial penalties,		 handbook.
Induction processes		 for
breakdown
ofstaff morale and		 new staff. Ongoing
management
adverse impact upon service training
and Personal
Development
rovlslon Review
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

Note 2023 2022
OOOO f000
INCOME
Donations
and legacies		 436 585
investment
income		 3,453 2,563
Total income 3,889 3,148
EXPENDITURE
Cost ofgenerating
funds		 (12) (142)
Investment
management		 costs (1,202) (903)
1,214 1,045
Charitable
activities
Masonic grants (5,964) (6,422)
Non-Masonic
grants		 (3,522) (3,069)
9,486 9,491
Totalexpenditure 10,700 10,536
Net gains/(losses)
on investments		 6,896 11,184
Net income/(expenditure) (13,707) 3,796
OTHER RECOGNISED GAINS/(LOSSES)
Pension
Liability Buy out		 36 18
NET MOVEMENT
IN FUNDS		 13,671 3,814
Total funds brought
forward		 158,486 154,672
Total funds carried forward 144,815 158,486
All income and expenditure derive from continuing activities and all gains/losses are included in the
statement offinancial activities
ROYAL MASONIC TRUST FOR GIRLS ROYAL MASONIC TRUST FOR GIRLS ANO BOYS
BALANCE SHEET as at 31 INarch 2023 Note March 2023 March 2022
Company
Number 01705033		 L"000 E'000
FIXEDASSETS
Investment
properties		 28,120 32,695
Investments 101,568 114,214
129,688 146,909
CURRENT ASSETS
Debtors 10 811 768
Investments g 19,801 14,323
Cash at bank and in hand 321 1,238
20,933 16,329
CURRENT LIABILITIES
Creditors falling due within one year (5,076) (4,219)
NET CURRENT ASSETS 15857 12,110
TOTAL ASSETSLESSCURRENT LIABILITIES 145,545 159,019
Creditors
falling due		 after one year (730) (533)
Total net assets 144,815 158486
CHARITABLE FUNDS
Unrestricted
funds
General reserves 12 84,196 86,583
Designated
reserves		 12 35.816 42,729
Property
revaluation		 reserve 12 24,803 29,174
Total charitable
funds		 144,815 158,486

STATEMENT OF CASH FLOW S YEAR ENDED 31 INARCH 2023
2023 2022
k'000 R'000
Operating
Activities
Net cash provided
by/(used
in) Operating		 Activities A 11,573 13,397
Cash flows from investing
activities
Dividends,
interest and rents from investments		 3,453 2,563
Proceeds from the sale ofinvestments 21,735 18,400
Purchase ofinvestments (14,532) (6,783)
Net cash provided
by/(used
in) Investing		 Activities 10,656 14,180
Change
in cash and cash equivalents		 in the reporting
period (917) 783
Cash and cash equivalents
at the beginning		 ofthe
reporting
period		 1,238
Cash and cash equivalents
at the end		 of the reporting
period B 321 1,238
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 (13,707) 3,796
Adjustments
for:
Dividends,
interest and rents from investments		 (3,453) (2,563)
Other movements
in investments		 4,540 (12,663)
(Increase)/decrease
in debtors		 (43) 217
Increase/(decrease)
in creditors		 1,090 (2,184)
Net cash provided
by/(used
in) Operating		 Activities 11,573 13,397
B Analysis ofcash and cash equivalents
Cash at bank and
in hand		 321 1,238
Total cash and cash equivalents 321 1,238

YEAR ENDED 31 MARCH YEAR ENDED 31 MARCH YEAR ENDED 31 MARCH YEAR ENDED 31 MARCH YEAR ENDED 31 MARCH YEAR ENDED 31 MARCH 2023
2. DONATIONS AND LEGACIES 2023 2022
f'000 f'000
Festivals 64 241
Other donations 51 47
Legacies 321 297
436 585
3. INVESTMENT INCOME 2023 2022
f'000 F'000
Interest on bank deposits 15 1
Income from investment porffolios 2,898 2,037
Rental income 540 525
3,453 2,563
4. INVESTMENT MANAGEMENT COSTS 2023 2022
f'000 f'000
Investment
fund		 management 593 602
Property management 533 229
Support costs 76 72
1,202 903
5. CHARITABLE ACTIVITIES 2023 2022
f'000 f'000
Masonic
Care and welfare support 3,859 4,555
Support Costs 2,105 1,867
5,964 6,422
Non-Masonic
Covid-19 Emergency Grants 0 575
Freemasons
Community		 Fund 176 0
Duke of Edinburgh Award 0 300
Early Interventions - Children 8 Families 2,991 1,716
Hospices 0 50
Other Charitable Purposes 227 224
Support Costs 128 204
3,522 3,069

Non-
SUPPORT COSTS Cost of Investment Masonic Masonic Total Basis
Generating and Property 2023 for
Funds Management Allocatior
5'000 K'000 5'000 F'000 F'000
Relief Chest - Fundraising 0 0 0 0 0 (a)
Fundfaislng 0 Q 0 0 (a)
Legacies 12 0 0 0 12 (a)
Masonic Support - Grants 0 0 0 346 (a)
Masonic Support - Advice & Support 0 0 360 0 360 (a)
Masonic Support - Provincial 8 Voluntee s 0 0 119 0 119 (a)
Relief Chest - Charitable 0 0 64 3 67 (a)
Charity Grants 0 0 0 68 66 (a)
Strategic & Impact 0 0 46 2 48 (b)
Executive 0 0 187 9 196 (c)
Finance 0 76 172 8 256 (c}
Digital &Technoiogy 0 0 174 8 182 (b)
Human
Resources		 0 0 86 4 90 (b)
Communications 0 0 243 12 255 (b)
Governance 0 0 70 3 73 (b)
Property management 0 0 209 10 219 (b)
Administration
and Support		 0 0 122 6 128 (b)
Facilities &Admin - Ruspini House 0 0 10 0 10 (b)
Other 0 0 (103) (3) (106)
12 76 2105 128 2321

Non-
6. SUPPORT COSTS:2022 Cost of Investment Masonic Masonic Total Basis
Generating and Property 2022 for
Funds Management Allocation
L"000 K'000 F'000 L'000 f'000
Relief Chest - Fundraising 43 0 0 0 43 (a)
Fundraising 46 0 0 0 46 (a)
Legacies 16 0 0 0 16 (a)
Masonic Support - Grants 0 0 324 0 324 (a)
Masonic Support - Advice &Support 0 0 322 0 322 (a)
Masonic Support —Provincial 8 Volunteers 0 0 97 0 97 (a)
Relief Chest - Charitable 0 0 55 4 59 (a)
Charity Grants 0 0 0 120 120 (a)
Strategic & Impact 0 0 14 1 15 (b)
Executive 24 0 177 14 215 (c)
Finance 13 76 184 14 287 (c)
Digital &Technology 0 0 148 12 160 (b)
Human
Resources		 0 0 68 5 73 (b)
Communications 0 0 231 18 249 (b)
Governance 0 0 44 3 47 (b)
Property management 0 0 83 7 90 (b)
Administration
and Support		 0 0 104 8 112 (b)
Facilities &Admin - Ruspini
House		 0 0 28 0 28 (b)
Other 0 (4) (12) (2) (18)
142 72 1,867 204 2285

remuneration
from the Charity
during
the year (2
during the year (2022:E Nil).		 remuneration
from the Charity
during
the year (2
during the year (2022:E Nil).		 022:E Nil). No trustees'
expenses		 were incurred
INVESTMENT PROPERTIES March 2023 March 2022
f.'000 F'000
Balance at 1 April 2022 32,695 31,032
Additions 38 183
Transfer (to) group undertaking (2,615) 0
Change in market value (1,998) 1,480
Balance at 31 March 2023 28,120 32,695

YE AR ENDED 31 MARCH 2023
9. INVESTMENTS March 2023 March 2022
f'000 E'000
Fixed Asset Investments:
- Managed
Funds
MCF CAIF 97,564 110,414
-Social investments 4,004 3,800
101,568 114,214
Current Asset Investments:
-Managed
Funds
RLAM Cash Reserve funds 19,801 14,323
19,801 14,323
121,369 128,537
MOVEMENTS
IN INVESTMENTS
a) Listed
Balance at 1 April 2022 124,737 125,654
Additions 14,090 6,600
Disposals (19,120) (18,400)
Investment
income reinvested		 2,898 2,037
Management
fees charged to the fund		 (542) (558)
(Losses)fgains (4,698) 9,404
Balance at 31 March 2023 117,365 124,737
b) Social
Balance at 1 April 2022 3,800 3,500
Additions 404 0
Revaluation (200) 300
Balance at 31 March 2023 4,004 3,800
Total 121,369 128,537

NOTES TO THE FINANGIAL STA NOTES TO THE FINANGIAL STA NOTES TO THE FINANGIAL STA NOTES TO THE FINANGIAL STA TEMENTS
YEAR ENDED 31 IIARCH 2023
9. INVESTIIENTS (Continued) March 2023 March 2022
L"000 L'000
RECONCILIATION TO SOFA
(Losses)/gains on listed investments (4,698) 9,404
Change
in market		 value of investment and social properties (2,198) 1,780
6,896 11,184
10. DEBTORS March 2023 March 2022
E'000 P.000
Prepayments and accrued income 115 24
Other debtors 696 744
Other debtors includes a loan ofK508k due from the Royal Masonic School for its share ofK508k due from the Royal Masonic School for its share ofK508k due from the Royal Masonic School for its share
ofthe buy-out ofthe pension liability. The loan is being paid off in monthly instalments
including
interest which for the year to March 2023 totalled 8157,050(March 20222145,347).
The loan has been discounted
to a net present value off449k for inclusion
in the accounts.
11. CREDITORS March 2023 March 2022
F'000 F'000
Falling due within one year
Grants payable 3,360 2,618
Amounts
owed to group undertakings		 1,218 1,134
Accruals and deferred
income		 120 99
Taxation and social security 6 8
Other creditors 372 362
5,076 4,219
Falling due after more than one year
Grants payable 730 533
730 533

YEA R ENDED 31 MARCH 202 R ENDED 31 MARCH 202 R ENDED 31 MARCH 202 3
12. MOVEMENT
IN FUNDS		 Balance at Income Expenditure Gains/ Transfers Balance at
1 April (losses) 31 March
2022 2023
6'000 2'000 f.'000 f'000 L"000 F'000
Unrestricted funds
General reserves 86,583 3,878 (10,680) (4,662) 9,077 84,196
Designated reserves 42,729 11 (20) 0 (6,904) 35,816
Property
revaluation		 reserve 29,174 0 0 (2,198) (2,173) 24,803
Total funds 158,486 3,889 10,700 6,860 0 144,815
PRIOR YEAR Balance at Income Expenditure Gains/ Transfers Balance at
1 April (losses) 31 March
2021 2022
6'000 L"000 f'000 f'000 f'000 L"000
Unrestricted funds
General reserves 82,728 3,137 (10,527) 9,422 1,823 86,583
Designated reserves 44,733 11 (9) 0 (2,006) 42,729
Property
revaluation		 reserve 27,211 0 0 1,780 183 29,174
Totalfunds 154,672 3,148 10,536 11,202 0 158,486

Designated
Funds
Balance at Income Grants Transfers Balance at
1 April 31 March
2022 2023
POOO OOOO POO0 P000 POOO
Existing Beneficiaries
Fund		 42,663 0 0 (6,904) 35,759
De Grey 8 Ripen Lodge No. 905 Fund 1 0 0 0
The Globe Lodge 275th Anniversary Fund 9 0 (2) 0 7
rCanada Lodge Travel Fellowship 7 0 0 0 7
Empire Lodge Centenary
Travelling		 Fellowship 27 0 0 0 27
Croydon Lodge of Endeavour 6 1 (6) 0 1
Colin Dyer 0 2 (2) 0 0
Prince of Wale's Lodge Bicentenary Fund 12 0 0 0 12
Public School Lodges Council 4 8 (10) 0 2
42,729 11 20 6,904 35816
Prior Year Balance at Income Grants Transfers Balance at
1 April 31 March
2021 2022
E'000 E'000 E'000 F'000 F'000
Existing Beneficiaries Fund 44,669 0 0 (2,006) 42,663
De Grey 8 Ripon Lodge No. 905 Fund 1 0 0 0 1
The Globe Lodge 275th Anniversary Fund 9 0 0 0 9
Canada Lodge Travel Fellowship 9 0 (2) 0 7
Empire Lodge Centenary
Travelling		 Fellowship 27 0 0 0 27
Croydon
Lodge of Endeavour		 6 3 (3) 0 6
Colin Dyer 0 2 (2) 0 0
Prince of Wale's Lodge Bicentenary Fund 12 0 0 0 12
Public School Lodges Council 0 6 (2) 0 4
44,733 11 9 2,006 42,729

onth.
Movemen		 ts
on the liabilities on the scheme
in the year a		 re detailed as follows:
2023 2022
6'000 L"000
Balance at 1 April 2022 (652) (796)
Interest charged
Less payments		 made on account by RMS in 2022/23 (13)
157		 (1)
145
5508 5552

SafetyNet 10,000 Core Funding
Scropton
Riding for		 the Disabled 15,000 Core Funding
SELFA 15,000 Core Funding
Sharks Community Trust 50,100 Breaking Barriers
Snap Specialist Playgroup 10,000 Core Funding
South Bristol Youth 40,000 Learning to Lead: helping
children
improve their
attendance
and educational
engagement.		 schoo
Sparkle (South Wales) 59,541 Core Funding
Splash (Special
Hours)		 Play and Leisure After School 9,360 Core Funding
SPLICE 10,000 Core Funding
Stick 'n' Step 53,449 Enabling children
mobile, confident		 with cerebral palsy to become
and independent		 more
Street Teams 15,000 Core Funding
Tanyard
Youth		 Project 15,000 Core Funding
Teen Action 15,000 Core Funding
Teen Talk 15,000 Core Funding
Teens Unite 58,858 Teens Liaison Executive forthe Positive Steps Program
The Bodie Hodges Foundation 10,000 Core Funding
The Counselling and Family Centre 59,889 Core Funding
The Exodus Project 15,000 Core Funding
The Friends ofStour Connect 15,000 Core Funding
The Literacy Hubs 10,000 Core Funding
The Lord's Taverners 60,000 Core Funding
The Magpie Centre 10,000 Core Funding
The Surrey Care Trust 40,000 Steps to 16- Alternative
Learning programme
disadvantaged
14-16year olds in Surrey		 for
Tom's Trust 15,000 Core Funding
Trelya 60,000 Skylar
Ups and Downs Southwest 10,000 Core Funding
UPTOWN Youth Service 10,000 Core Funding
Wiltshire Treehouse 10,000 Core Funding
YMCA Lincolnshire 39,600 Core Funding
YMCA Norfolk 59,762 Families First
Young Gloucestershire 55,000 Full Circle (intensive
young people)		 mentoring for especially vulnerabl
Youth Adventure Trust 60,000 Supporting
Disadvantaged		 Young People
Total 2,991,392 114
Freemasons
Communit		 Fund
Amaze 15,000 Core Funding
Gloucestershire Deaf Association 24,757 Hear it loud - for deaf children
6loucestershire		 and young people in
Leeds Mencap 24,819 Solid Foundations project
Shine21 15,000 Core Funding

Springboard
Opportunity		 Group Group Group 2S,000 Springboard
Mead vale - provision for young children .
autism
in North Somerset		 Springboard
Mead vale - provision for young children .
autism
in North Somerset		 Springboard
Mead vale - provision for young children .
autism
in North Somerset
Sunbeams
Play		 8,600 Core Funding
The Dorset Children's
Foundation		 15,000 Core Funding
The Hollow Lane Club 15,000 Core Funding
The Peter Pan Centre for
Special Needs		 Children with 22,067 The Peter Pan Centre - Giving children
with special
educational
needs the best start in life
Worcester Snoezelen
CIO		 11,000 Core Funding
Total 176,243 10
Other Charitable
Pur		 oses
1262 SQUADRON
AIR TRAINING CORPS		 2,393 Core Funding (Matched Provincial donation)
6th Gosport Air Scout Group 249 Core Funding (Matched Provincial donation)
Acts Fast 1,500 Core Funding {Matched Provincial donation)
Bcxlcy Foodbank C/0 Avery
Fellowship		 Hill Christian 500 Core Funding (Matched Provinc!a! donation)
Bexley Snap 2,500 Core Funding (Matched Provincial donation)
Billericay Food Bank 2,000 Core Funding (Matched Provincial donation)
Bishop's Stortford Foodbank 2,000 Core Funding (Matched Provincial donation)
Biack Country
Food Bank		 Limited 1,250 Core Funding (Matched Provinciai donation)
Blaenau Gwent Otters Swimming
the Disabled		 Club for 1,000 Core Funding (Matched Provincial donation)
Borehamwood
Foodbank		 2,000 Core Funding (Matched Provincial donation)
Braintree Area Food Bank 1,100 Core Funding (Matched Provincial donation)
Braintree Area Food Bank 300 Core Funding (Matched Provincial donation)
Brookfields School Association 1,348 Core Funding {Matched Provincial donation)
Buckfastleigh
Foodbank		 3333 Core Funding (Matched Provincial donation)
Canine Partners 1,000 Core Funding (Matched Provincial donation)
Care After Combat 500 Core Funding (Matched Provincial donation)
Carers Support Centre 500 Core Funding (Matched Provincial donation)
Carlisle
Key		 175 Core Funding (Matched Provincial donation)
Centred Horseplay 2,000 Core Funding (Matched Provincial donation)
Chamwell
Centre		 2,000 Core Funding (Matched Provincial donation)
Children's
Hospice South West		 1,000 Core Funding (Matched Provincial donation)
Children's
Liver Disease foundation		 500 Core Funding (Matched Provincial donation)
Copeland
Amateur
Swimming		 Club 175 Core Funding (Matched Provincial donation)
Corby and District Cancer
Hospice)		 Care (aka Lakeland 613 Core Funding (Matched Provincial donation)
Croydon
Health Services Charitable		 Fund 2,000 Core Funding (Matched Provincial donation)
Dorset Mind 310 Core Funding (Matched Provincial donation)
Downs Syndrome
North East		 1,000 Core Funding (Matched Provincial donation)
Edan Lines 500 Core Funding (Matched Provincial donation)
Ely Community
Lunches (under
The Lighthouse
Centre)		 umbrella of 1,000 Core Funding (Matched Provincial donation)
FACT- March Community Fridge 2,000 Core Funding (Matched Provincial donation)
Family Help Darlington 2,500 Core Funding (Matched Provincial donation)
Feed the Homeless 2,000 Core Funding (Matched Provincial donation)