CORNWALL MASONIC CHARITABLE FOUIYDATION
Charity No: 1178008
Report and Unaudited FinancAal Statements
Year Ended 31 Deeember 2023

CORNWALL MASONIC CHARrrABLE FOUNDATION
REPORT AND UNAUDITED FINANCIAL STATEMEiYrs
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
Page
T￿SleeS Annual Report
Statement of Trnstees, Responsibilities
Independent Examin¢rs' Report
Statem¢nt of Financial Activities
Balance She¢t
Notes to the Financial Statements
8-14

CORNWALL MASONIC CHAIUTABLE FOUNDATION
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their report along with th¢ financial statements of the Cornwall Masonic
Charitable Foundation ('the Charity") for the y&ir ended 31 December 2023. Th¢ trustees have
adopted the provisions of Accounting and R¢porting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in awordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effectiv¢ l January 2019).
Objectives, aCti￿tieS and public benefit
Objectives and aims
The objects of the Charity are to receive donations from individual Masons, Lodges, Chapters and
other Masonic Bodies, and to distribute such sums to Masonic and Non-masonic Chariti¢s whether
or not registered under the Ch8rities Act, and to also off¢r hclp and assistance to poor and distressed
Freemasons and th¢ir families who are kn need. The trnstees meet annually to consider th¢ grants to
be made durlng th¢ forthcoming year and there is also an investment sub-committee that meets as
and when required.
The Cornwall Masonic Charitable Foundation (CMCF) was fonned in 2018 after the decision was
taken by the Trustees to close the Cornwall M&sonic Benevolent Fund (CMBF} and thc Cornwall
Masonkc Grand Charity (CMGC) whoge work had been superseded by the Introduction of the Relief
Chest system under the auspic¢s of th¢ Freemasons Grand Charity in London, wh¢re donations to
local festival fiu]d raising, would henceforth go direct from individuals and lodges to the Relief
Chest, and not through the local charities.
Aehievements and perforllll74nees
The charity has been w¢ll supported by the Freemasons of Comwall, individually and through their
respective lodges. During the year the Charity received donations of £21,950 {2022: £23,996).
Public benefit
The Truste¢s Consid￿ they bave complied with th¢ir duty in Section 4 of Part l of the Charities Act
2006 which requires them to have due regard to guidance published by the Charity Commi%sion. In
particular, the Charity believes that in supporting the Central Masonic Charittes in rotation through
Festival Appeals it is reaching more than 200,000 Freemasons in England & Wales and a Si￿lIar
number of dependants as described above.
Financial review and investment policy
Total income for the year was £46,539 (2022: £58,125).
There are no restrictions on the Charity's power to invest. The investment strategy is reviewed
annually by the trustees and iak¢s into account the income requirements. Ihe risk profile and the
investment manager's view of thc Tnarket prospects in the medium t¢rni. All the reserves of the
charity are unrestricted in natur¢ and At is the Charity's policy to invest those funds in low and
medium risk investments in a balanced portfolio; to seek an annual r¢turn of between 3010 and 4 /0
such as to meet as far as possiblc administrative and support costs; and to hold cash balances
siifficient to cover thos¢ Costs and grants for the following two years.
Page I

CORNWALL MASONIC CHAIUTABLE FOUNDATION
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
(CONTtNUED)
StruC￿re? governance and mAllagement
Th¢ Cornwall Masonic CharAtable Foundation is constituted as an Unincorporat￿ association, is
governed by the constitution adopted on l April 2017 as amended on 2 June 2021 and is a r¢gistered
Charity No. 1178008.
The Trustees are the persons that hold the following positions within the Province of Cornwall:
The Provincial Grand Master
The Deputy Provincial Grand M&8ter
The Assistant Pmvincial Grand Masters
The Provincial Grand Charity Steward
Induction procedures are in place for newly appointed Trustees.
Overall policy is deteTmined by the Trustees as a whole, with day to day management delegated to
the Secrdary Mr A.J. Powell, and the administrator Mr l.B. Henwood. The financial transactions
and bank reconciliations for th¢ Cornwall Masonic Charitable Foundation ar¢ completed by the
Assistant Treasurer Mr P.R. Moore.
Reserves policy
Thc rcscrves policy is as follows:.
To hold sufficient inve.%tments with the aim that thcy will produce, at a minimum, a notional 4 %
annual return in ordeT to meet the charity's annual running costs. Based on annual charitable
expenditure of approximately £30,000 the ch(lrity aims to hold investments of at least £750,000. In
addition to hold sufficient reserves held in cash at bank in sufficient to rneet at least two years-
worth of gross cxpcndtture. Based on annual charitable expenditur¢ of approximately £30,0(K) the
charity aims to hold cash at bank of ai Icast £60,000. As at 31 December 2023 the charity held
investments of £779,929 {2022: £759,209) and cash at bank of £95,732 {2022.. £95,302). Free
reserves were £872,979 (2022.. £852,314). The t￿Ste¢S ar¢ of the view that these reserves are
sutyicient to meet the objectiv¢s of the charity and also ensure it is able to continu¢ in op¢ration.
Risk management
The Trustees have revi¢w¢d the major strategic and operational risks which the Charity faces and
¢onfirni that systems have been established to enable regular reports to be produced so that the
necessary steps can be tak¢n to lessen those risks. The mhin areas of risk id¢ntifi¢d were:_
Significant long-temi loss in the va]u¢ of the investment portfolio.. this has been mitigated by
the ¢ontinucd engagement of brokers and by giving them appropriate instructions.
The possibility of donations to inappropriate charitable purposes.. this has been mitigated by
care￿1 scrutiny by the Tn￿teeS of likely recipients.
General operational risks." these have been mitigated by close control and supervision of the
day-to-day opeTations of the Charity by the executive members and the adoption of best
practice to all aspects of th¢ Charity's activiti¢s.
Page 2

CORNWALL MASONIC CHARIT ABLE FOUNDATION
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
(CONTINUED)
Referenee and administration details
The Charity number is 1178008. The address of its principal office and details of the Charity's
advisers ar¢ set out below, as is a list of the tn￿teeS who Serv￿ during th¢ year.
LEGAI. AND ADMINISTRATIVE INFORMATION
The Trustees during the year ended 31 Dcccmber 2023 were:
Mr D G Leaity, President
Mr A J Powell, appoint￿ 4 April 2023. Se¢retary and Treasurer from 6 February 2023
Mr M B Pritchard. se￿etary and Treasurer until 6 Febn]ary 2023
Mr D G Maskell
Mr G N Bennett
Mr L J Sleep, appointed 6 February 2023
Principal Office
7A New Bridg¢ Street, TrLWO, Cornwall, TRI 2AA
Independent Ex2mlner
Matthew Webb, Azets Audit Services, Unit A, Woodlands Court, Truro Business Park,
Truro, Cornwall, TR4 9NH
Banker8
Lloyds Bank Plc, 7 Boscawen Stre¢t, Truro, Cornwall, TRI 2QT
Brokers
Brewin Dolphin, 24 Lemon Street, TrLWO, TRI 2LS.
Page 3

CORNWALL MASONIC CHARITABLE FOUNDATION
TRUSTEES ANNUAL REPORT
FOR THE YEAR EF4DED 31 DECEMBER 2023
(CONTINUED)
STATEMENT OF TRUSTEES RESPONSIBILITIES
The tnjstees are responsible for preparing the Trustees, Annual Report and the fillancial stateinents
in accordance with applicable law and Utiited Kingdom A¢¢ouThting Stsndards (United Kingdo
Generally Accepted Accounting Practiee).
The law applicable to Ch￿ItIeS in England & Wales requires the trustees to prepare financial
statements for each financial year which give a true and fair view of the 8tate of affairs of the Charity
and of the incoming re8ourees and application of resources, including the income and expenditure,
of the charity for that ye8r. In preparing these financial statements, the tr￿SteeS aTe required to=
sele¢t suitable accounting polieies and then apply them consistently,.
observe tlie methods and principles in the Charities SORP (FRS 102);
make judgement8 and estimates ihat are reasonable and prndent.
prepare the financial stateinents on the going concern basis unless it is inappropriale
to preswnc that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reLsonable
accuracy at any tiinc thc financial position of thc charity and cnablc th¢m to cnsurc that th¢ fiiw)eial
slat¥ments comply with the Charities Act 2011, the Charity {Ac¢ounts and Reports) Regulations
2008 and the provisions of tbe trust deed. They arc also responsible for 8afeguarding the a8sets ol
the charity hence for Lthing Teasondble steps for the pr¥v¥nlion and d¥t¥Llion DI Iraud an(i other
irtegularities.
Report of the trustees, approved by OTder of the board of trustees on. Iq-L!:.ZO£l.and signed on the
board's behalf by..
BY ORDER OF THE COMMIrfEE
'ty - President
A.J. Powell- Secretary
Page 4

Inde
endent Examiner's Re
ort to the Trustees of Cornwall Masonic Charitable Foundation
ster¢d Chari
Number 1178008
I r¢port to the trustees on my exarnination of the financial statements of Cornwall Masonic Charitabl¢
Foundation (the Charity) for the year ended 31 December 2023 which are set out on page5 6 to 14.
R¢sponsibRlities and basis of report
As the trustees of the Charity you arc responsible for the preparation of the financial statements
in accordance with the requirements of the Charities Act 2011 ('the Act.).
I report in respect of my examination of the Charity's financial statemenL8 Ca￿led out undcr
section 145 of the Act and in carying out my ¢xamination I have followeil all the applicable
Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confimi that no material matters have come to my attention in
connection with the examination giving m¢ Cause to believe that in any material respect:
l. accounting record.8 weTe not kept in r¢spcct of the Charity as Tequired by section 130 of the Act.
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requiTements concerning the form and
content of accounts set out in the CharEtkes (Accounts and Reports) Regulations 2008 other than
any requircmcnt that the accounts give a 'true and fair view, which is not a matter consider¢d as
part of an independent exan)ination.
I have no concerns and have com¢ across no other rnatters in connection with the examination to
which attention should be drawn in this rqx)rt in order to enable a proper understanding of the
financial statements to be reached.
Matthew Webb BA (Hons) BFP FCA
Institute of Chartered Accountants in Englana & Wales
Azets Audit Servi¢¢s
Unit A, Woodlands Court
Truro Business Park
TRURO
Cornwall TR4 9NH
Page 5

CORNWALL MASONIC CHARtrABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
(incorporating an income and expenditure account)
FOR THE YEAR ENDED 31 DECEMBER 2023
Note
UDrestrirted
Funds
Funds
2023
2022
Income and endowments
Donations (unrestrided)
Donations (ffstricted)
Investment income {unrestricted)
17.079
4,877
24,583
23,996
34,129
Total income
46,539
58,125
Expenditure
lhnations (unrestrirtcd)
Donations (restricted)
Charitable expenditure (unrcstiict¢d)
16,3(X)
4,873
33,007
22,764
30,308
Total expenditure
54.180
53,072
Net (deficil)lincome
(7.641)
5,053
Changes in fair value of investments (unrestricted)
28,306
(115,219)
Net n)ovement in funds
20,665
(110.166)
Total funds brought forward (unrestricted)
852,314
962,480
Total funds earried fonvard (unrestrieted}
Total fullds carried forward (restricted)
872,975
852.314
Total funds carrRed forward
872,979
852,314
The notes on pages 8 to 13 forni an inlegral part of these accounts.
Page 6

CORNWALL IIL4SONIC CHARITABLE FOUTr4DATIO
BALANCE SHIET AT 31 DECELVIBER 2023
Unrestrieted
Funds
Funds
Note
2023
2022
Fixed Assets
lllvestments
779,929
759.209
Current Assets
Cash &t bank and in hand
io
95,732
158
95,302
151
Debtors
95,890
95.453
Creditors.. Amounts falling due
within one year
12
(2,840)
(2,348)
Net Current Assets
93.050
93,105
Total Asset5 less Current Llabilitles
872,979
852,314
Fullds of the Charity
Reserves (restricted)
Reserves {unrestritted)
13
14
872,975
852,314
872,979
852,314
and signed on its behalf by..
res
ent
The notes on pages 8 to 13 fomi an integral part of these accounts.
Page 7

CORNWALL MASONIC CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
l. Accounting Policies
1.1 Basis of Preparation of Accounts
The financial slalements of thc charityj whieh is a public benefit entity under FRS 102, have been
prepared in accordance with lh¢ Cbarilies SORP (FRS102) 'A¢¢ounting and Rewrting by Charities..
Statemcnl of Recommended Practice applicable to charities preparins theiT accollnts in accordance
with the Financial Reporting Standard applicable in the UK and R¢public of Ireland (FRS 102)
{effcclive l January 2019), Financial Reportittg Standard 102 'Th¢ Financial Reporting Standard
applicable in the UK and RcpubliG of Ireland, and the Charities Act 2011. The financial statements
have bcen prcpared under the historical cost Conventi￿ with the exception of investments that are
measured al fair value.
The fllkancial stalements are prepared in stcrling which is the functional curyency of tlle charity.
Munetary amoullts in thesc finaEkcial statements rounded lo the nearest pound sterling.
1.2 ￿Ing Collcern
The financial statements have been prepared on tbe going eonccmbasis. The trustces hav¢ considercd
a period of twelve months from the date of approval of the financial btatements and have a rclsonablc
expectation that the charity has adequate resources to continue in operntional existeDce for the
foreseeable future. The trublees are ofthe view that there are no material uncertainties that may create
signifiuani doubt over the charity's ability to continue as a going concero.
1.3 Cb&rilable funds
Unrestricted funds are available for use at the th'scretion of the trustecs in furtherance of their
b￿ltable objectives.
Restsicted funds are subject to specifie conditions by donors as to how they may be used. The
putposes and uses of the restricted fi]rkds are set out in thc notes to the financial statemcnls.
1.4 Income
Illcome COllLprises money received from its principal sources. namely the rec¢ipt of subscriptions,
donations, investment in¢omc and bank interest. Subscriptions and donations arc recognised when
receivablc. Legacies are includcd when the charity is advised by the personal representativc of an
cstale thal payment will be made.
All income received during the year was deriv¢d in the UJJited kn"ngdom.
1.5 Investffjellt Income
Investment income is accounled lor using the accrual method. Dividend incomc is r¢¢ognised
when thc right to receive payrn¢nt is established. lllterest income is recognised Using the effective
interest method.
1.6 Expenditure
Expenses are rrcognised on an accruals basis.
Donations are charged in the whcn paid or accrued when a liability is establÉshed.
Costs of generating funds comprise costs for the ninning of thc Charity itself as an organisation
and the cost of promotional items.
G0ven￿nCe costs are those associated with the Charity's constttutional and Statutory
requirements and Éts strategic management responsibiLitie8.
Page 8

CORNWALL MASONIC CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1.7 Fixed Asset Investmellts
Invcstments arc measured at fair value. All gains and losses are recognised in the Statement of
FinanciaE Activities.
1.8 Fi]Janci81 instruments
Financial assets and liabilities arc recognised in the company's statement of fll]ancial position when
thc company b¢¢oD]es paty to the contractual provisions of the iDStnllnent.
Financial assets and liabilities are ¢la8sified into specified categories. The classification depends on
the naturc and puwose of the financial assel or liability and is deterniined at the time of recognition.
Basic financial assets, which include otherreceivablcs, cash alld bank balances, are initially measured
at transaction price including transaction ¢osts and are subsequently carricd at amortis¢d cost using
the effective intcrest method, unless the arrallgement constitute a fU￿￿ling transaction, where the
transaction is llleasure at the present valu¢ of the ￿tUre receipts discounted at a maTket ralc ot interest.
Basic financial liabilitics, which include trade and otherpayabl¢s are initially measured at transaction
price, unl¢sb the arrangement constitutes a financing transaction, whcre the debi instt￿ent is
measured at the pr¢scnl valuc of tbe future pairynents discounted al a market rdte of interest.
Financial liabilities are derecognised whe& and only when, th¢ CI￿lty'S obligations are discharged.
cancelled, or they expir¢.
Tax#tio
The charity is exempt from lax on its C1￿1t￿ble activities.
2023
2022
Donations
Donaiions and subscriptions (unrcstricted)
Donations and subs¢riptions (restricted)
Office conlribulions- Provincial Grand Lodge of Cornwall
10,164
4.877
6.915
17,396
6,600
21,956
23,996
2023
2022
Investment illcome (unrestricted)
Illcome froTn investments
Bank Interest
23,810
773
34,084
45
24,583
34,129
Page 9

CORNWALL MASONIC CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CON'fiNUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5. Ch&rit*ble donations {unrestricted)
During the year the Fund made donations to local Charities and Bodies as follows:
2023
2022
Cornwall Blood Bikcs
Merlin MS Centre
Cornwall Community Foundation
Comwall Air Ambulance
Lifelile8
Macmillan Cancer Care
Marie Curie
Children's Hospice SW
Cornwall Hospice c.are
National Coastwatch
I,￿0
1,000
1,000
1,000
1.000
,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1,000
1,000
1,000
1,000
Nare Point
Penzance
Poluran
Ports¢atho
Charlcslown
GweDnap Head
Boscastle
Cape Cornwall
350
350
350
350
300
300
3(K)
300
Fowey
Penlee
Bude
Port Isaac
Padstow
Sennen
Lizard
Si Ives
Falmouth
350
350
350
350
300
300
300
300
300
PMS InlcTnalional - T¢ddies for
Loving Care
Georgia's Voice
Oasis Centre
Royal Cornwall Hospital
SSAFA The Arnied Forccs Charity
Jusl Breath Cornwall
WILD - Young Parents
Chestnut ApFKal
Disability CoTnwall
2,495
500
500
500
1.000
500
500
1,000
500
1.000
1,070
Page 10

CORNWALL MASONIC CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5. Charltable donations (ullrestricted) (continued)
2023
2022
YMCA Penzanace
Emergency grant donations
Porthtowan Surf Lifesaving Club
Haylc Day Centre
Funcral Costs
500
500
5(X>
1,51X>
2,999
16,300
22,764
6. Charitable donations (restricted)
2023
2022
PMS Intcrnattonal - Teddies for
LL)ving Care
4,873
4,873
2023
2022
7. Charitsble expenditure
Staff costs (notc 8)
Rent and rates
9,571
6.764
4,362
1,756
75
8,461
6,727
2,950
1,627
75
Heat and light
Telephone and intern¢t
Computer coats
Hire of equipment
Buffet and drinks
250
168
600
600
Independent examiner's remuneration
Portfolio management fees
Miscellaneous
2,310
7,270
49
1,953
7,747
33,007
30,308
Pagell

CORNWALL MASONIC CHARITABLE FOUNDATION
P40TES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECELIIBER 2023
2023
2022
8. Staff Costs and Trustees, RemunerAtioD
Salaries
9,571
8.461
The average number of employees during the period was:
No employee received remulleration amounting to moTe than £60,000 in cÉther period.
There werc no trustees, remuneration or other benefits for the year Cllded 31 De¢embcr 2023 nor for the
Feriod elldcd 31 Decembcr 2022.
Therc were no trnstees, expenses paid for th¢ year cnded 31 December 2023 nor for the pertod cnded 31
December 2022.
2023
2022
9. Investments
Fair value at beginning of year
Additions
712,997
99,757
(95,942)
28,306
824,862
108,955
(105,601)
(115,219}
Disposals
Change in lair value
Fair value al end of year
745,118
712,997
Fair value of tnvestments (as above)
745,118
712,997
Cash held in portfolio
34,811
46,212
Total Investments
779,929
759,209
Investments at markct value wmpri8ed.'
2023 2022
(21 %)/(22/0)
(12/0)1(150/o)
(37/o)1 (31 /0)
UK Fixed irLterest securitics
UK Equities
Overseas Equities and Funds
Other illvestments
Cath
167,352
90,250
289,330
198,186
34,811
165,437
111,514
238,153
197.893
46,212
(5 /Tr) 1 (6/0)
779,929
759,209
Thcrc were no individual inveslmenls represertting in excess of SQ/0 of the investment portfolio at 31
December 2023 or 31 December 2022.
Page 12

CORNWALL MASONIC CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDLD 31 DECEMBER 2023
2023
2022
10.cash at ballk and in hand
Instant Access Account
94,314
1.418
91,558
3,744
Treasurers Account
95,732
95,302
2023
2022
11. Debtors
Due within one year.'-
Prepayments
158
151
2023
2022
12. Creditors
Duc within one year:_
Accruals and deferred income
2,840
2,348
13. Restricted funds
The income fi]nds of ihe ¢harity include restricted fiuLds comprising the following unexpendcd balances
of donations and grants held on trust for gpecific purposes.
Movement in fillLds
Balance at I
Incoming Resources
Resources
Expcnsed December 2023
Balance at 31
January 2023
PMS International _ Teddies for
Loving Care
4,873
4,877
Page 13

CORNWALL MASONIC CHARITABLE FOUNDATION
r40TES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14. Unrestricted reserves
Unrestricted reserves comprise £872,975 {2022.. £852,314) which the trustces are fr¢e lo use inaccordallce
with the ¢I￿ritable objects.
15. RelyAted parties
There were no related party transactions durillg the year.
Page 14