Charity Re8iStratlon Number: 208563 GREAT PRIORY OF THE ORDER OFTHETEMPLE FUND OF BENEVOLENCE FINANCIAL STATEMENTS 31 AUGusf 2023 GREAT PRIORY OF THE ORDER OF THE TEMPLE FUND OF BENEVOLENCE TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees of Great Priory of the Order of the Temple Fund of Benevolence present their report and the financial statements for the year ended 31 August 2023. LEGAL AND ADMINISTRATIVE DETAILS The Charity is the Great Priory of the Order of The Temple Fund of Benevolence and Is a registered Charity under registration number 208563. The Charivs address is 86 St Jamegs Street, London, 5WIA IPL TRUSTEES The Trustees of the Great Priory of the Order of the Temple Fund of Benevolence who served durin8 the year and to the date of si8nin8 this report, unle55 Othenvise stated, are:_ J Prizeman R Wallis Newly appointed Trustees receive an indualon from the President and Great Treasurer and attend training courses as necessary. ORGANISATION The Members of the Grand Masterfs Council are responsible for the administration of all aspects of the Great Priory of the Order of The Temple Fund of Benevolence. The members of the Grand Masterfs Council of the Great Priory are Ex officio. appointed by the Grand Master with the exception of the Great Treasurer who is elected by the Great Priory of England and Wale5. His Honour l D G Alexander, KC J M Beard D Burridge (Deceased 24 September 2022) P R Calderwood, JP P R Clement P M Collins (Retired 17 May 20231 G D A Elgood (Retlred 17 May 20231 G R Goddard IRetired 17 May 2023) J N G Howitt IDeceased 29 July 20231 G Hutchinson (Appointed 17 May 20231 K J Jones G L Perkins WJTPratt A C Rainbow R Scott (Appointed 17 May 20231 Dr N F J Scott-moncrieff (Appointed 17 May 20231 M E Slater, Ostl S J Wanwick (Appointed 17 May 20231 TJ Wheeler J Whitaker. JP. DL Page I GREAT PRIORY OF THE ORDER OFTHE TEMPLE FUND OF BENEVOLENCE TRUSTEE5' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 PRINCIPAL ADVISER5 BANKERS FUND MANAGERS Clydesdale Bank plc (Trading as J M Firtn & Co Ltd Virgin Money) 4 Coleman Street 7 Gold Street London Northampton EC2R STA NNI IEN AUDITOR Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW CONSTITUTIONS AND OBJEcrs The Great Priory of the Order of The Temple Fund of Benevolence is governed by statute (Charities Acts), the Trust Deed dated 30 May 1928 and Statutes of the Order 1957. The objects of the charity are Relief of members of the Order and their widows and children. The Fund of Benevolence is supported by contributions from Brethren, Ladie5, Preceptories and Provinces and these take the form of either donations, covenants, legacies or bequests. The Charit¢s main income is from investments. the Charity has not engaged with third parties to raise funds and there has been no direct approach to members of the public for funding. No complaints were received in relation to our fundraising activities. The Trustees confim that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission guidance on the strategy towards and the achievements of the Charity against its objectwes. GRAP￿ MAKING POLICY The payments of grant5 are made to the needy who qualify according to the statutes of Great Prlory. RESERVE5 POUCY At 31 August 2023. the free reserves amounted to £836,02712022- £ 833,3521. The Trustees belleve that the level of reseNes should provide a ￿fety net for downturn5 in the market as well as building up for large donations in the future. However. the Trustees are aware that the reserves are high and continue to review the level held. The Trustees consider that there are sufficient reserves held at 31 August 2023 to mana8e any foreseeable downturn In the UK economy. The Trustees consider that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and, for this reason. the Trustees continue to adopt the going concern basis in preparing the finantial statements. Page 2 GREAT PRIORY OF THE ORDER OF THE TEMPLE FUND OF BENEVOLENCE TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 INVEsTMEP￿ POWERS Investment powers ore set out and operated within the provisions of the Trustee Act 2000. The investments are managed by the Investment Commlttee, which 15 advised by JM Finn & Co Limited. INVESTMENT POLICY AND PERFORMANCE The policy of the trust deed is to provide quickly grants in relief of need for Knights Templar and their dependents. The only sources of income for the fund are receipts from individual Preceptories and any investment income {including capital gains). Changes are made to the investments held on the basis of seeking to maintain the existing funds and to increase them so far as possible. The intention is to invest in securities, which are likely to increase in value (including providing increased dividends). rather than by any other criteria. In accordance with these aim5, the funds are managed by J M Finn & Co Limited. The Investment Committee, appointed by the Trustees, review5 the funds on a regular basis. The value of the investment5 at the balance sheet date was £815,822. ACTIVITIES Grants were paid in the year to 31 August 2023 amountin8 to £nil12022'. £IC4),0001. TRUSTEES, RESPONSIBIUTIES The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trusteesto prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law. Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its net incoming/outgoing resources for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP,. make judgments and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it 15 inappmpriate to presume that the charity will continue to operate. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose wrlh reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements compty with the Charities Act 2011. the Charity (Accounts and Rewrtsl Regulations 2008 and the provisions of the chariws constitution. They are also responsible for Safeguarding the assets of the charity and hen for taking reasonable step5 for the prevention and detection of fraud and other irregularities. AUDITOR Crowe U.K. LLP has indicated its willingness to be reappointed as statutory auditor. Approved by the Trustees on 13th March 2024 and signed on their behalf by- J Prizeman, Trustee Page 3 Independent Auditorfs Rèport to the Trustees of the Great Priory of the Order of the Temple Fund ol Benevolence Oplnion We have audited the financial statements of the Great Priory of the Order of the Temple Fund of Benevolence for the year ended 31 August 2023 which cornprise Statement of Financial Actwities, the Balance Sheet and notes to the finanual statements. Sncludlng significant accounting policies. The financial reportln8 framework that has been applied in their preparation is applicable law and United KinÈdom Accounting Standards, includin8 Financial Reporting Standard 102 The Financial Reportlng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practicel- In our opinlon the financial statements: give a true and fair view of the state of the tharitls affèirs as at 31 August 2023 and of Its Incomlng resour￿$ and application of resources, Including its income and expenditure for the year then ended; have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accountin8 Pradice- and have been prepared in accordance with the requirements of the Charitie5 Act 2011. Basls for oplnion We conducted our audit in accordance with International Standards on Audltlng IUKI IISAS IUKII and applicable law. Our responslbilities under those standard5 are further described in the Auditorfs ￿Sponsibl11t1es for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to Dur audit of the financial statement5 in the UK, including the FRCS Ethical Standard, and we have fulfillèd our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for OUT opinion. Conduslons relatln8 to golng con¢ern In auditing ihe financial statements, we have concluded that the trustees, use of the goin8 concern basis of accounting in the preparation of the financial statements Is appropriate. Based on the work we have performed, we have not Identified any material Un￿rtaInlIeS relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's abillty to continue as going con￿rn for a period of at least twelve months from when the financial statements are authorised for Issue. Our re5pon5ibilities and the responslbllities of the trustee5 Wlth respect to golng concern are descrlbed In the relevant sections of this report. Other Snformation The trustees are responsible for the other information contained within the annual report. The other Informatlon comprises the infom)ation include(l in the annual report. other than the financial statements and our auditorfs report thereon. Our opinion on the financlal statements does not cover the other infom)atSon and we do not express any form of assuran￿ conclusion thereon. Our responsibility 15 to read the other Information and, in doing so, conslder whether the other information Is materially inconsistent with the financlal statements or our knowled8e obtained in the audit or otherwise appears to be materially rnisstated. If we identify such material Inconsistencies or apparent material rniS5tatements, WÈ arè required to determine whether thls gives rlse to a material misstatement in the financlal statements themselve5. If, based on the work we have performed, we conclude that there is a m3terl81 misstatement of this other information, we are required to report that fad. We have nothlng to report In this regard. Page 4 Matters on which wè are required to report by emcèptlon We have nothing to report in respèct of the following matters in rèlation to which the Charities IAccounts and Reportsl Regulations 2008 require u5 to report to you if, in our opinion= the information given in the financial statements Is Inconsistent in any material respect with the trustees, report.. or sufficient accountlng records have not been kept,. or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanatlons we require for our audlt Responsibilitles of trustees A5 explained more fully in the tru5tees' responsibllities statement set out on page 3, the trustees are responsible for the preparation of the financial 5tsternents and for being satisfied that they Elve a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material mi55tatement, whether due to fraud or error. In preparlng the financial staternents, the trustees are responsible for assessing the charitvs ability to ttjntinuè a5 a gCsin8 concern, dlsclosln& as applicable, matters ielated to going con￿rn and using the going con￿r￿ basis of accounting unless the trustees either intend to liquidate the charlty or to cease operations, or have no realistic alternative but to do 50. Audltorfs responsibilltles for the audlt of the flnarKial #atements We have been appointed as auditor under section 144 of the Charitie5 Act 2011 and report in accordance with the Act and relevant regulations made or havlng effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance 15 a hi8h level of assurance. but is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will always detect a rnaterial misstatement when it exists. Misstatements can arise from fraud or errL)r 3nd are considered mateTlal if, individually or In the a8gregate, they could reasonably be expected to inffluen￿ the economlc decisions of users taken on the basis of these financial statements. Irregularitie5, intluding fraud. are instan￿5 of non