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||**Note**|**Unrestricted**|**Endowment**|**Total**|**_Total_**|
|---|---|---|---|---|---|
|||||**2023**|**_2022_**|
|||£|£|£|£|
|**Income and endowments from:**||||||
|Donations and legacies|||||_52,015_|
|Investments||31,738||31,738|_37,156_|
|**Total**||31,738||31,738|_89,171_|
|**Expenditure on:**||||||
|Raising funds||9,851||9,851|_9,805_|
|Charitable activities|3|66,071||66,071|_23,825_|
|**Total**||75,922||75,922|_33,630_|
|Net gains/(losses) on investments|4|37,836|17,000|54,836|_(228,654)_|
|**Net income/(expenditure)**||(6,348)|17,000|10,652|_(173,113)_|
|**Net movements of funds**||(6,348)|17,000|10,652|_(173,113)_|
|**Reconciliation of funds:**||||||
|Total funds broughtforward||1,196,190|489,825|1,686,015|_1,859,128_|
|**Total funds carried forward**||1,189,842|506,825|1,696,667|_1,686,015_|





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|**1**|**ACCOUNTING POLICIES**||
|---|---|---|
|a)|**Accounting convention**||
||Thefinancial statements have been prepared in accordancewith Accounting and Reporting by Charities: Statement||
||of Recommended Practice applicableto charities preparing their accounts in accordancewith the Financial Reporting||
||Standards applicable in the UKand Republic of Ireland (FRS 102) (effective 1 January2015)- Charities SORP (FRS||
||102).||
||Thetrustee continues to adopt the going concern basis in preparing thefinancial statements.||
|b)|**Charity Information**||
||The Charity is atrustwhich is a public benefit entity registered as a charity in England and Wales (charity no.||
||210165). It operatesfrom Freemasons' Hall, 60 Great Queen Street, London, WC2B SAZ.||
|d)|**Investment income**||
||Dividends are accountedfor based on income notified bythe investment managers. Interest on bank deposits is||
||accounted foron an accruals basis.||
|e)|**Resources expended**||
||Resources expended are included inthe statement offinancial activities on an accruals basis, inclusive ofany||
||irrecoverableVAT||
|f)|**Income tax recoverable**||
||Income tax recoverable is accountedforon an accruals basis.||
|g)|**Financial instruments**||
||Grand Secretary Discretionary Fund hasfinancial assets and financial liabilities ofa kind that qualifyas basic|financial|
||instruments.||
||(i) Listed investments, including fixed interest securities and cash held for investment, are measured atfairvalue||
||through income and expenditure accounts and are reported at their marketvalues atthe balance sheet date.||
||(ii) Other financial instruments, which comprise bank and cash, debtors, othercreditors and accruals are initially||
||recognised at transaction value and are subsequently measured at amortised cost using the effective interest method.||
|h)|**Taxation**||
||Notaxation is payable bythe Grand Secretary's Discretionary Fund as it is able to make use ofthetax exemptions on||
||income and capital gains availableto charities.||
|**2**|**ADMINISTRATION COSTS**||
||All costs ofadministration, with the exception ofsundry bank charges, are borne bythe United Grand Lodge|of|
||England.||
|**3**|**CHARITABLE ACTIVITIES**||
||Resources expended on charitable activities represents grantsto organisations and individuals asfollows:||
||**2023**|**_2022_**|
||£|£|
||46,000<br>Grantsto Charities|10,000|
||20,000<br>Disbursements to District Grand Lodges|13,825|
||**66,000**|**23,825**|





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|**INVESTMENTS**|||
|---|---|---|
||**2023**|**_2022_**|
||£|£|
|MarketValue at 1 January2023|1,543,208|1,744,511|
|Net investment into portfolio|75,498|27,351|
|Net gains/(losses) on investments|54,836|(228,654)|
|MarketValue at 31 December2023|1,673,542|_1,543,208_|
|Investments at market value comprise:|||
|Bonds Fund|323,706|_245,881_|
|Equities and Alternatives|1,303,474|_1,268,389_|
|Cash|46,362|_28,938_|
|MarketValue at 31 December2023|1,673,542|_1,543,208_|
|Historical cost at 31 December2023|1,454,354|1,373,462|



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