Charity Registration Number: 208563 GREAT PRIORY OFTHE ORDER OFTHE TEMPLE FUND OF BENEVOLENCE FINANCIAL STATEMENTS 31 AUGUST 2025
GREAT PRIORY OF THE ORDER OF THE TEMPLE FUND OF BENEVOLENCE TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 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 2025. LEGAL AND ADMINISTRATIVE DEfAILS The Charity 15 the Great Priory of the Order of The Temple Fund of Benevolence and is a registered Charity under registration number 208563. The Chèritls address is 86 St James's Street. London, SWIA IPL, TRusfEES The Trustees of the Great Prlory of the Order of the Temple Fund of Benevolence who served during the year and to the date of signing this report, unless otherwise stated, are- J R G Hilditch IApp)inted 31 March 20251 J Prizeman (Deceased 22 January 20261 R Wallis (Retired 31 March 20251 Newly appointed Trustee5 receive an induction from the President of the Grand Masterfs Council and G3t Treasurer and attend traininE courses as necessary. ORGANISATION The Members of the Grand Masterfs Council of the Great Prlory are responslble for the admlnlstration of all aspects of the Great Prlory of the Order of The Temple Fund of Benevolence. The members of the Grand Masterfs Council of the Great Priory, who are either appolnted by the Grand Master of Great Priory or elected by the Great Priory of England ènd Wales, during the flnanclal year and to the date of the signing of this report are: Hi5 Honour l D G Alexander, KC J M Beard Dr P R Calderwood. JP P R Clement, Ostj G L Gill, SLMM (Appointed 21 May 20251 J R G Hilditch G Hutchinson KJJones P A Norman (Retired 21 May 2025) GL Perkins WJTPratt J H Prizeman (Appointed 21 May 2025, Deceased 22 January 20261 A C Rainbow R Scott Dr N F J Scott-moncrieff {Appointed 10 November 2025} M E Slater, Osti (Retired 21 May 20251 J Spence, DL TJ Wheeler J C Whitaker, JP, DL- President Page I
GREAT PRIORY OF THE ORDER OF THE TEMPLE FUND OF BENEVOLENCE TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 PRINCIPAL ADVISERS BANKERS FUND MANAGERS Clydesdale Bank plc (Trading a5 J M Finn & 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 CONsnTUTIONS AND OBJECTS The Great Priory of the Order of The Temple Fund of Benevolence is governed by statute ICharitie5 Acts), the Trust Deed dated 30 May 1928. The primary objects of the charity are Relief of members of the Order and their dependants. The charity may also relieve the need, hardship or distress of other member of the public, and such charities as recommended by the Grand Ma5te¢s Council or Great Priory. The Fund of Benevolence is supported by contributlons from Brethren. Ladies. Preceptories and Provinces and these take the forni of either donatiODS, covenants, legacies or bequests. The Charitvs main income is from investments in most years, 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 confirm that they have complied with the duty in sertion 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 bts objectives. GRANT MAKING POLICY The payments of grants are made to the needy who qualify according to the statutes of Great Prlory. RESERVES POUCY At 31 Au8USt 2025, the free resee5 amounted to £802.635 {2024: £ 838,1231. The Trustees belleve that the level of re5erve5 should provide a Safety net for downturns in the market as well as providing level of income to support grants. However. the Trustees continue to revlew the level of reserves held. Durin8 the year ended 31 August 2025, the Trustees reviewed its Reserves Polity and agreed to maintain the reserves at a level Sufficient to generate adequate investment Income to meet current funding quIrernents. This will be reviewed annually. The Trustees consider that there are sufficient reseThes held at 31 August 2025 to manage anv foreseeable downturn in the market. The Trustees consider that there is a asOnable expectation thatthe charity has adequate resources to continue in operational existence forthe foreseeable future and, for thi5 reason, the Trustees continue to adopt the going concern basis in preparing the financial statements. Page 2
GREAT PRIORY OF THE ORDER OF THE TEMPLE FUND OF BENEVOLENCE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 INVESTMENT POWERS Investment powers are set out and operated within the provlsions of the Trustee Act 20QK). The Investments are managed by the Investment Committee, which is advised by JM Finn & Co Limited. INVESTMENT POLICY AND PERFORMANCE The only sources of Income for the fund are receipts from Indlvidual Preceptories (including the sale of swift pins) and any investment income (including capital gains). Changes are made to the investments held on the basis of seeking to malntaln the exlstlng funds and to increase them so far as possible. The intention is to invest in securities, which are likely to increase in value lincluding providing increased dividends). rather than by any other criteria. In accordance with these aims, the funds are managed by J M Finn & Co Limited. The Investment Committee reviews the funds on a regular basis. The value of the investments at the balan sheet date was £892,97512024.. £888,704). AcnviTIES Grant5 were paid in the year to 31 August 2025 amounting to £71,C0 to the St John of Jerusalern Eye Hospital12024: £100.CIXJ). and £5,0 emergency grant to an individual12024: £nill. TRUSTEES, RESPONSIBIUTIES The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance wtth applitable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kin8dom Accounting Standards) and applicable law. Under charity law the Tru5tee5 must not approve the financial statements unless they are satlsfied that they give a true and fairview of the state of affairs of the charity and of its net incomin0Utg0lng resources for that period. In preparing these financial statements, the Trustees are required to: selert 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 5tatement5 on the going concem basi5 unless It is inappropriate to presume that the charity will continue to operate. The Trustees are responsible for keeping adequate accounting records that a sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial PQ51tion of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2C(18 and the provisions of the charit¢5 constitution. They are also responsible for safeguarding the assets of the charity and hence for tskin8 reasonable steps for the prevention and detection of fraud and other irregularities. AUDrroR Crowe U.K. LLP has indicated its willingne55 to be reappointed as 5tstutory auditor. Approved by the Trustees on l Qp. "12ozÉ and signed on their behalf by: J R G Hilditch, Tru5te¢ Page 3
Independent AudStorfs Report to the Trustees ol the Gre Priory of the Order of the Temple Fund of Benevolence Oplnlon We have audlted the financlal statements of the Great Prlory of the Order ofthe Templè Fund of Benevolence for thè year ended 31 August 2025 whlch comprise Statèment of Financial Activities, the Balance Sheet and note5 to the financial statements, includin8 significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Ac¢ountlng Standards, includlng Financial Reportlng Standard 102 The Flnanclal Reporting Standard applirdble in the UK and Republic of Ireland (United Kingdom Generally Accepted A¢counting Practicè). In our opinion the financial statements.. givè a true and fair view of the state of the charitvs affairs as at 31 August 2025 and of its incoming resources and application of resource5, including its income and expenditure for the year then ended- have been property prepared in accordance with Unlted Klngdom Generally Accepted Accounting Practice.. and have been prepared In accordance with the requirements of the Charltles Art 2011. Basls for opinlon We condurted our audlt in ac¢ordan¢e with International Standards on Audlting IUKI IISAS IUKII and applicable law. Our responsibilities under those Standards are further described in thè Auditor's responsibilities for the audlt of the flnanclal statements section of our report. We are independent of the charity in a¢cordano with the ethlc31 requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethlcal responslbilltles In accordance with these requirements. We believe that the audit evidence we have obtained 15 5uffitiÈnt and appropriate to provide a basis for our oplnlon. Con¢lusions relln8 to 80in8 ¢on¢em In auditing the financial statements, we have concluded that the tru5tees' use of the golng concem basis of accountlng In the preparatlon of the financial statements is appropriate. Based on the work we have perforrned, wè have not Identlfled any material uncertainties relatin8 to events or conditions that, individually or collectively, may cast $18nlfl¢ant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statèmènts are authorised for Issue. Our responsibilities and the respon5ibilitie5 of ihe trustees with respett to golng conrn are described In the relevant settion5 of this report. Other infomiation The trustees are responsible for the othèr informatlon contained within the annual report. The other Informatlon comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. Our opinlon on the financial statements does not cover the other information and we do not express any form of assurance concluslon thereon. Our responsibility is to read the other informatlon and, In dolng so. conslder whether the other information 15 materially inconsistent with the financial statements or our knowledge obtained in the audit or othetwise appears to be materlally mlsstated. If we Identify such material inconsistencies or apparent material misstaiements, we are required to determine whether thls glves rise to a material m15Statement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mi5Statement of this other information. we are required to report that fact. We have nothing to report in this regard. Page 4
Matters oth which we are required t(tr pOrt by exceptlon We have nothlng to report in respect of the following matters In relatlon to whlch the Charities (Accounts and Reportsl Regulations 2008 require us to report to you if, in our opinion-. the Snformation Blven in the financial statements 15 inconsistent in any material fespect with the trustees, report- or sufficlent accountin8 records have not been kept,. or the financial statements are not In agreement with the accountin8 records and returns.. or we have not re1ve all the informatlon and explanation5 we require for our audit Rèwnsibifrties ol trustees As explained more fully in the tru5tee5' responsibilities statement set out on page 3. the tTUStees are responsible for the preparation of the financlal statements and for being satisfied that they give a true and fair vlew, and for such internal control a5 the trustees determine Is necessary to enable the prepai3tion of flnancial statements that are free ftom material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to Continue as a going ¢on¢em, discloslng, as applicable, matters related to going concern and using the going Conrn basis of accounting unless the trustees eithèr Intend to liquidate the charity or to cease operations, or have no realistic alternative but to do $0. Auditorfs responsibllitles for the audlt of the flnancial ststements We have been appointed a5 auditor under Sectlon 144 of the Charities Act 2011 and report In accordance wlth the Act and relevant reBulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statèmènts as a whole are free from rnalerial mi55tatement, whether due to fraud or error. and to issue an auditorf5 report that includes our opinion. Reasonable assuran 15 a high level of assurance, butls not a guarantee that an audit conducted In accordance with ISAS IUKI will always detect a material misstatèment when it exists. Misstatements can arlse from fraud or error and are considered material if, individually or in thè aggregate. they could reasonably be expected to Influen the economic decisions of user5 taken on the ba515 of these financial statements. IrregularltSes, including fraud. are instances of non-compliance wlth laws and regulatlons. We design procedu$ in line wlth our respon5ibilitie5, Outlined above, to detect material misstatements in Tespett of irregularitie5, including fraud. The èxtènt to which our ProdureS are capable of detectlng Irregularitie5, including fraud is detailed below- A further description of our responslbllltle5 for the audlt of the financial statements 15 located on the Financlal Reporting Council's website at: www.frc.o audit rsres onsibilitie& This description fomis part of our auditorfs report. Extent to whlch the audSt was consldered capable of (letertl•¥ Irregularltles. Includlng fraud Irregularltle5, Snduding fraud, are instances of non-comp11an wlth laws and re8ulations. We Idèntlfled and assessed the rlsks of material misstatement of the financial statements from Irregularltles. whetherdue to fraud or error, and discuss these between our audit team members. We then designed and performed audit Procedures Tespon5ive to those risks, including obtaining audit evidence sufficient and appropriate to provide ba51s for our oplnlon. Page 5
We obtained an understanding of the legal and regulatory frameworks within which the charSty and group operates, focusing on those laws and regulations that have a direct effect on the determinatlon of material amounts and disclosures In the finandal statement5. The laws and regulatlons we considered in this context were the Charitie5 Art 2011 together with the Charities SORP IFRS 1021. We assessed the required compllan with these laws and regulations as part of our audit produreS on the related financial statement items. In additlOD, we considered provislons of other laws and regulations that do not have a direct effect on the financial statements but compliance wlth whlch mlght be fundamental to the charity's and the group's ability to operate orto avoid a material penalty. Wealso considered the opportunitie5 and inntiVeS that may exist within the charily and the group for fraud. The laws and fegulations we considered In this context for the UK operations Included General Data Protection Re8ulation IGDPRI. Auditing standards limit the required audit procedures to identify n0n-comp1lan with these law5 and regulations to enquiry of the Trustees and other management and inspection of rÈ8ulatory and legal correspondence, if any. We identified the grèatest risk of material impact on the financial statements from irregularities, includln8fraud. to be within the timing of retognition of income and the override of controls by management. Our audlt procedures to respond to these risks included enquirie5 of management and the Management Board about their own identificatlon and assessment of the risks of irregularities, sample testlng on the posting of lournals, reviewing accounting e5timate5 for biase5, Sample testlng of income, reviewin8 reÉulatory correspondence. and readlng minutes of meetings of those charged with governan. Owlng to the Inherent limitations of an audit, there 15 an unavoldable risk that we may not have detected some material mlsstatements in the financlal statements, even though we have properly planned and pèrformed our audit in at¢OTdan¢e with auditlng standards. For example, the further removed non-compliance with laws and regulations lirregularitiesl is from the evènts and transactions reflected in thefinancial statements. the le55 likety the inherently Ilmlted procedures required by auditingstandards would identify it. In addttion, as with any audit, there remained a higher risk of non-detection of IrregulatieS. as these may involve collusion. forgery, Intentional omisslons, misrepresentations, or the overrlde of internal controls. We are not re5pon5ible for preventing non-complian and cannot be expected to detect non-compliance with all laws and regulation5. Use of our oport This report 15 made solely to the charity's trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2CQ8. Our audit work has been undertaken so that wè might state to the charitys trustees those matters we are required to state 10 them in an auditorfs report and for no other purpose. Tts the fullest extent permltted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our audit work. for thls report, or for the opinions we have formed. .Uk lie Crowe U.K. LLP Statutory Auditor London Date: 15th May 2026 Crowe U.K. LLP Is ellglble for appointment as auditor of the charity by vlrtue of its ell8lbility for appolntment as auditor of a company under section 1212 of the Companies Act 2006. Page 6
GREAT PRIORY OFTHE ORDER OF THE TEMPLE FUND OF BENEVOLENCE STATEMENT OF FINANCIAL AcnvinES FOR THE YEAR ENDED 31 AUGUST 2025 Notes 2025 2024 Income and endowments from: Donations Bank Interest Investments 6,200 994 29,048 3,255 819 24.915 TOTAL 36,242 28,989 Expenditure on: Investment management costs Charitable activities 4,233 4,073 310 8enevolent grants 76,(X)O TOTAL 80233 104.383 OPERATING {LOSS) (43,991) (75.394) Net realised and unrealised gains on investments 77.4AI NET (EXPENDITURE) I INCOME (35,4881 2,096 NEf MOVEMENT IN FUNDS (35,4881 2.096 FUNDS Balance at I September 2024 838,123 836.027 BALANCE AT 31 AUGUST 2025 802,635 838,123 All of the above a represented by contlnuln8 operations. There are no recogni5ed gains or1055es other than those shown above. The notes on pa8e 9 to 10 fomi part of these flnanclal statements. Page 7
GREAT PRIORY OF THE ORDER OFTHETEMPLE FUND OF BENEVOLENCE BALANCE SHEET 31 AUGUST 2025 Z025 2024 Notss FIXED ASSET INVESTMENTS Quoted securitbes at market value Cost £667,54612024 £635.2211 892.975 888.704 CURRENT ASSErs Debtor5 Cash at bank 7.566 12,344 7.607 42.062 19.910 49,669 CURRENT UABILMES Sundry creditors 110,250 I(,250 CURRENT {LIABILITIES 190,340} {50,581J NEfASS 802.635 838,123 Rèpresènted by: UNREsfRICTED FUNDS 802.635 838,123 Approved by the Tru5tee5 and authorised for issue on l (k,'12Wband signed on their behalf by: J R G Hilditth Trustee The notes on page 9 to 10 form part of these financial ststements. Page 8
GREAT PRIORY OF THE ORDER OF THE TEMPLE FUND OF BENEVOLENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 CHARrri INFORMATION The Charity is a Public Benefit Entity registered as an unincorporated charity in England and Wales (registration no. 208563) and operates from Mark Masons, Hall, 86 St. James's Street, London. SWIA IPL. ACCOUNTING POLiaES la) Basls of Accounting The financial Statements have been prepared in accordance with the Charities SORP IFRS1021 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice. The flnancial statements have been prepared to give a "true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2CY)8 only to the extent required to provide a "true and fairf view. The charity constitutes a public benefit entity as deflned by FRS 102. Having tonsiderèd post year end results and reserves, the Tru5tee5 consider the charity has adequate resources to continue in operational exlstence for the foreseeable future and there are no material uncertainties. Accordingly, the accounts have been prepared on a going Concern basis. Ib) Investments Fixed asset investments are revalued to market value at the balance sheet date and the surplu5 or deficit of this revaluation represents unrealised gains or1055e5. The differences between the carrying value lor tost if acquired in the yearl and the proceeds of investments disposed of represent realised investment galns or losses. Net realised and unrealise(I gains or losses are shown as a combined figure in the Statement of Financial Activities. Inveslment Incorne Investment income is accounted for on a receivable basis. Id) Grants Payable Grants are accounted for when they are paid. (e) Financial Instruments The charity has financial assets and financial liabilities of a klnd that qualify as basic financial instrument5. Basic financial instruments are initially recogDised at transaction value and subsequently measured at amort15ed cost Using the effective interest method. Financial a55ets held at amortised cost comprise cash and bank and in hand. together with accrued income. Financial liabilities held at amortised cost comprise grant5 payable and accruals. Page 9
GREAT PRIORY OFTHE ORDER OFTHETEMPLE FUND OF BENEVOLENCE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 (el Flnanclal Instruments Icontlnuedl Investments, including boT)ds held a5 part of an investrnent portfolio are held at fair value at the Balance Sheet date. with 8ains and losses being recognised within income and expenditure. In Critical accountlng judgements and key sources of estlmatlon uncertalnty In the application of the charity's accountin8 policies, Trustees are required to make judgements. e5timate5, assumptions about the carrying value5 of assets and liabilities that are not readily apparent from other sources. The estimates and underlyin8 assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may dlffer from these estimates. The estimate5 and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised If the revision affects only that period, or in the period of the revision and future periods if the revision affetts the current and future periods. In the view of the Trustees. no assumptions concernlng the future or estimatlon uncertainty afferting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. GRANTS Benevolent grants in the year were paid to the St John of Jerusalem Eye Hospital and emer8ency grant to an individual. INVESTMENTS 2025 2024 Market value at I September 2024 Less.. Disposal proceeds Add: Acquisitlons at cost Net realised and unrealised gains Market value at 31 August 2025 888,704 815.822 (249,972) (113.435) 245,740 108,827 8,503 77,490 892,975 888,704 Cost at 31 August 2025 667,546 635.221 Unrealised Eains/llossesl amountin8 to £225,42912024: £253,483) are based on a valuation at the year-end which is unlikely to equate to the attual gains and losses which will arise on the subsequent realisation of those investments. TRUSTEE REMUNERATION No Trustee received any remuneration or reimbursement of expenses durlng the cUrnt or previous year. There are no related paity transactions in the reportlng period. Page 10