THE FREEMASONS. FUND FOR SURGICAL RESEARCH TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021
THE FREEMASONS. FUND FOR SUAGICAL AESEAACH l N D EX Yov •nd•d J l Dc•mb•r 2021 G•nwl Infornmthn TN¥t•w' r)ort Ind¥•nd•rt •xamln•rfs r•port Stst•rnwrt of fl•1 •crIvlI5 ihe•t Notss to th• fthIn 10 Inv•rtm*)t iumn Appd I Hlsw olorts pd to th• Coll•p of 5wz•oni of End Apwdbx 2
THE FREEMASONS. FUND FOR SURGICAL RESEARCH GENERAL INFORMA TION Year end J l Decemb¥ 20ZI Chvity Re8irtration numb•r 252951 Patron HRH Th• Duk• of Kont KG Trt¥•$ Jus1n Ash Julian Soper AThtony Naruts FKCSIEn Paul Copsey Howard SabiTh FRCSIEng), FRCSIEdl Jonathan RaTrdI R•Blrt•r•d offl 22 Chknc•ry Lan• London WC2A I LS Ind•p•nd•nt •xamln•r Gordon Spffjnkn ACA Dlxon Wilion 22 Chanc•ry Lan• Londpn WC2A I LS S•cr•tvy Mkha•l M•is•nt Pvlnclpal addv•s 7 Hanwd PIK• Koms¢y Hampshlr• 505 I OEL Inv•rtm•nt bankon *nd Cazeno¥¢ c1141 M•n•8•m•nt Umkqd l London W1 PIKe London EC2Y SAU B•nk•r4 Coutts & Co St Martln's Offlc• 440 Strand London WC2K OQS
THE FREEMASONS. FUND FOR SURGICAL RESEARCH TRUSTEE5 ANNUAL REPOR T Yemr ended 3 l D•¢•mb•r 2021 This report should b¢ r¢ad In conjun¢Uon w4th the informaticffj siv on p4e 2. Crnatlo The Fund wls created in 1967 as a charitable fOUndaOn by contrlbutSons frorn Freemuon¥ of the En811sh cSl)jt1un to commemorats the 250th Annlversary ofthe orlglnal Grnnd Lodge M¢rfln& Gov•rnln£ In?)t The 8overning iThitrumwt is i Dadar4tlon ofTrus¢ dt•d 8 May 1967. Obl•cfS •nd pyl>U¢ bOfft Th• Trus5 havg cpn51d•red tho guidc In raipett of publlc ber¢ O¥en by th• Ch¥ity Commlssion In accordance wth the rfqulrements ofthe Charitlei Art 2011. Th• objert of the Fund 4$ s¢t ou¢ in pknKraph 5 of the Declaration of Trus¢ as amended by rèsdution of the Truitw dat•d 20 May 2014, li to hold thé Truir Fund th4 incomi ther•of upon trurt firrtty to pay th¢r•from Ill th• prop•r costs and exper•$ IA¢urrvd by th¢ Tru5tre5 in tdrninlstorlng tho Ch&rlty th¢ property th¢r¢of ind iubl•ct th•rnto to appty th• um• Iwh•th•r by pa•nts frorn or incomo) In furtherlry In ¢trlimctlDn the Royd College of Surpons of England la reKlster•d tharity no. 2128081, researth In th• ScieC• of surgery provldad that In no accounn8 year shajl th¢ •xwdkur• ofthe TruJt•ts towards the knyal co1 exc¢¢d fiv¢ per c¢ntum of the Cap1 u¢ ol the TruAt Fd calculated at th¢ end of th• ac¢ountknK y•ar imrnodlatety pOr to Irbcurring iuch •xp•nditure. Trust cap1 Is h¢ld in p•rpetultY. 5ubj•rt only to th• d•duttloTh of 411 prop•r com Ind expl$¢1 incurred by thé Trust should th•1• not b• cov•rod by Incom•. All 8rffts ar• mid• to th• Ro1 Collag• ol Surg•¥ of England In accordance wlth th• obf•ct of the TNit Th• r•¢lpl•nt tharty C•Jnflrm•d thaL th•lr opinion, +ts actyvities satisfy the publlc beAofit twt. Th Tru5tew ir• tlsfi•d that this kn for the publlc benefit and that iher¢ Is no d•trlm•nt or hrm thtt mlRht thie hm cvryiw tyJt this obj•cL No person or bo* r¥8% any prirdt• b¢n¢fit vth•r than a5 1 beTheficry. OryMl•AtSobMI rtructur• Th• Secretary has overdll control of th• pn•rnl condutt of th• Fun¢fi vrfl Is ruponsVol¢ for the [rnPUfIQD ofth• pollcl•i ofth• Truit••i. Tru#t•o¢ pollcl•¥ Th• TnJst••¥' polidu ar lal (b) to lThv•st trwt In ordèr to pn>¥1 i total return to knrth•r th• trurt 0b1•¢ty. to to th• Royal Collry• ofSury•oni of En41thd. Trurt••i Th• n•m•s of th• Indidu5 who Tru¥¢¢u thrlni th• p•riod ar• shown ON p4• Z The power to •ppoint new Trutt¢ey li vext4d ifi th• Grand Muter ofthe Unw Crnd Lodg• ol Enld. Th•r• must h at least three and no more than ¥¢n Trw¢•u. The Trurtees hi unr•strict•d power ol estMenL The Trustees meet at least eath year ¢tsnsid•r th• Charirf5 adv•5 and performance.
THE FREEMASONS, FUND FOR SURGICAL RESEARCH T RUSTEES ANNUAL REPOR T Yezr ended J l D•¢eMr 2021 Reserves In line with th¢ guld¢¢ issu•d by th• Charity Cornmlsson, the Trnste¢s have rev1¢4 th• n¢ed for reserves. Tht Trustees Seek to apply income sn pursuanee of tht stated Obj1$ of the Fund as 500n as 15 reasonably prudent The present intention of the Trurtees Is to make xnnts to the Royl Cdlege of Surgeons of En8lartd sufficiént to contribure to the 5UPPOrt of four r¢searth fdlowships. The Trustees and the lege Seek to fund a consistent number of r5•1rth f•llowships year cfi year and, to achleve thls obj¢th th¢ Trustees may ha to resort to irl, within the p•rrnitted limlt The extent to which capitsl has bo •w&d ov•r the years 18 ract In the fir¢S of rt rrIfit li•bilrtiei as set out in note 13 on paga 13. Th• Trust••i rrKinltor the l¢vel of r¢s¢r¥# r•8ularty. Conn•thd ¢hwftl¢i Th•re ar¢ no connected chvit4t& In¥•rtrnwrt polky It is the policy of tha Trurtéès to In¥•st In •guiti•& In Int•r•st itod(1, sn alt•rnatF¥• lThv•stm¢nrA and to plx• money wth deposlt tskvs. The ben¢hm?rk r4ngès for ass•t 10¢¢1¢nI w•r• 5540% Global equ5tla4 5.25% fix Inter¢s¢ 5-25% ak•mth• Invejtments and 0.10% cash. Th• inv•stment pollry VAS updat•d in 2020 In Ilght of mark•¢ d¢¥•l¢pmwts In order to athieve th¢1on8 temi Objetti whkh 5$ to 8•n•rate a to roturn of inflitlon + 4 Th• obj•rt4ve Is to ach5eve grovrth In capit¥ and In¢om•. Wthin that broad owective, the of the Try>t¢e$ 13 to obtan #n annual total rnturn lufflot to all¢)w tha dlsburs¢m¢nt of £240.)0 or th¢r•abouts from theie Inveitments, aft¢r ¢ov•r5n8 •xpenies, to be achleved with •ffétt from and In¢ludin8 th• yvar 2015. The Trusttts seek to pro*K• the bert pus5ible finanElal return in order to achieve the grnatest amount of mon¢y •vallable for th¢ fUrth¢rart of m•dical rw•arth, whllit invejting in a manr ¢onsIstt with th¢ Fund'¥ wrns and avoldlThg SmièKln8 In bwln¢ss•s vkni¢h may rqasonably b• regarded as und¢rtaklng Kti•S whl¢h ar• Inlurious to Indiwéuals or iocl•ty in Ken1r. Th¢ Trust••i have reiolved to Invest In ESG funth wlth a w•lKhtlng of 5-10%. proding they meet all other invgstmqnt Erireda. It is reco8niwd that It Is unreI5stk to ha¥• zero ¢ol¢rAn¢• to hold1f in Jecwities dué to tha Vfdy Some In¥estmMts h•ld thin fvTh& and because buiin¢ss¢s are reda$Sed from timo to dm•. AJ sh¢)wn th th• fdlowln¥ tabl4 some tolerance of rutrltted businesses sh1 b¢ perniitted, how•v•r thern shll be no dlr•ct In¥•ttmént in Cern busln•ss•i, u ycrfled.. Dlr•¢t Inv¢•tm•nt Tot xpo¥ur• In on• fund 7.5% 7.5% 2.5% 2.5% io% Total exP0rn overall 2.S% 2.5% 1% 1% 5% Tobacco Gamblln Porno Pr•d•to Lendln Fosdl Fudi Y•5 The Trustees have appoknrted Cazeno¥e p1 Man8g•m•n¢ Llmh•d I'cgzenovo) u Inve5tirAnt advlmn. have discretion to change th¢ investrnents without the spefiC insLructions of the Trustees. Some tunds are placed dep05rc with CaZen0 Othe$• inve5tm¢nts are to be held in pooled funth. The performance benchmarkn are the SE 1 Share Index for ¢wity funds, th• SE Government AJI Stocks Index for fi Int¢rtrt fvnd and 7 day UBID for aternative investments. Cazenov• r•port four time5 & year to the Trustees on th¢ Invertm•nt p¢rforman¢• ofth• Fund and the inestment policy i¥ reviewed by the Tru5the5 at least once a year.
THE FREEMASONS, FUND FOR SURGICAL RESEARCH T RUSTEE S ANNUAL REPOR T Year ended J l December 2021 An•n¢lal revlew rrIng the year inY•s¢ment Sn¢¢ toled £128.97612020- £163.943). 2021 includng ¢JJThation amount to £4,93S (2020 - £3121, receiyed frorn IndiYIdu donor& donations were treated u IddlOn$ to the erndowment (Eapiol) with the of Increasing the value of annual grants to the Royal Coll•g• ol Surg•ons of En£land. Grants amuntyng w a60,000 (2020 - £180.1)001 were rrAde by the Trustees to th• Royal Col of rye0% of Enland. Ar th• y•ar-•nd th• lfiv•stments were led at £7,674,401 (2020 - £7.004.42T). All investynts r• h•ld In accordce th th• D•claTrtion ofTruit. Th• unr•rtri¢t•d fund shows ? totsl d•ficlt of £136.213 12020 - £19,8551. In accordance with the Chadtlés SORP (FSR1021 it l¥ acceptable to urry forward a defici¢ as the Truste¢J h•v¢ a realis¢lc ¢xp¢¢tatipn that f4rture Sncome wlll bé rételvèd to ¢ov•r th• shprtfall. A tranif•r of £131213 from the r•strlcted fund wlll be mad• ¢0 cle¥ thls d•ficlo 49 it4¢•d IN nts¢• 13 of th• a¢ct¥unti. aunov• l•vlad invo51n¢ mqnagemont chory•s In the yw amouni¢ni to C25.95812020- £24,160), In cordIn¢l wlth th• t•rmJ oran Order Yted by tTrie Chrity Cgmmi¥¥ioner¥ tht•d 20 thy 2011. the Tru¥t••S have Identth•d th• unapp15ed total return at 31 D•cember 2012 based on the difference 11Th th• n•t fund$ at th#t date less th• initial tapltal ol £582,769. AddltlorsJ to thé unappllgd totl retym hav¢ be•n caloJlat¢d for subiequgnt acrauntlnu periods based on the excesi total return lass and expèns¢s. ai st out In note 13 to the finan¢lil stst•m•nts. An appl1clon of the unapplled total r•turn has been rnad• in th• yur to 31 D•¢•mb•r 2021, r•¥p•ct of ¢he thortfall of Income of £19,855 arising for the year ended 31 December 2020. The Trust¢•i condud•d that not n•c•Mary to obtaSn ad¥lc• r•yrdkng th• us• of pow•r conf•md on th• Tr141 by th• OrdBr. FlnwKlal •tAt•m•nt Accounts ar• set out on p4e5 8 to 14. Th•y hiv• bun drawn yp Sn wmpllanE• wlth th• r•I•V provlsloni of the ChvI• Act 201 l and with th• Oecl•ratlon Trt. St•t•m•nt of Truite••' r•ipoMlbllltl• Th• Trust••s ¥• re5P0Th51ble for pr•parini th• Annual Report and th• ¥ut•m•nts h Kcordince 4>p15cable law and Unlthd Kingdom G•Th•rally k¢ept•d Acwuntln¥ Pradc•. Law appllcable tl) in Enland and wal r•qulr¢s th• Trust••s to pr•par• flnantlal statemenrs for •adt fimncial yeir which give a true aThd Mr ¢W of the Charlws financydl actNltl•s durinK th• y¢ar and ol it$ flnanclal posldon at th• •nd of th• y•Ar. In pr•pvlni financ1 rtatements SinI a trw and falr vS•w. th• Trust• ihould follow best pra¢tl¢¢ and.. selart suit11• couNti pollciw and than apply thwn ¢sIsten,. obiem tha methods and prln¢lplu of th• Char1¢$ SORP. rnak• ludgm•nts and •stSmat•s that ar• r•uonabl• and prud•nt', stat• wh•th•r 4>pliE•bl x£oUn4 standard5 and 8tatement5 of recommended Prnttic• hav? b•4n followed, sublK¢ to any mat•rial d•p4rtur•5 di1¢105ed and expL4ined In th• f(nanclal rtaternents; and prepir• the financil statements on th• golThg concern basls unless It Is Inapproprf4¢• to presume tha¢ Charty will continue in op•ration.
THE FREEMASQNS, FUND FOR SURGICAL RESEARCH TRUSTEES ANNUAL REPOR T Y¢•r ended 31 Dttember 2021 The Trurtees are responslble for keeping accountinK r•cords vthith dlscloje wlth rtasmthe aEEur¥Ey th• financl posltlon of the tharity and which enable thern ¢0 ensure that the finaTrci itat•m•nts comply wlth the regulations made undar th¢ Ch¥lll¢s Act 201 l. They are also responiible for saf¢guvdlng the assets ol the Charity h•nc• for taklThK r•uonabl• Jteps lor the prnVenti •Thd d¢tec¥on of frnud and other irre8ularities. On b•hlfof the Trusts•5 JLISTINIAN ASH 25 May 2022
THE FREEMASONS, FUND FOR SURGICAL RESEARCH I ND EPE ND ENT EXAM I N E R S IiEPO KT Year ended 3 l December 2021 INDEPENDENT EXAMINER% REPORT TO THE TRUSTEES OF THE FREEMASONS. FUND FOR SURGICAL AESEARCH I r¢port to the Truste on my examination of the accourtts of the Trust for the year ended 31 Dec•mb•r 2021. Reybnilbllltl•# and bals of r•port As th• Charity Trutt• ol th¢ Trurt ypu arg rwponslble for the preparntlon of the accounti In ic£ordanE• wth th• r¢qulr¢ments of th• Chin• Att 2011 1'th• Act'l. You ar• Atiifi•d an audit l¥ not r•qulr•d for thtx y•ar nd•r ¢h¥ity 14w and thit In Indeper4d•nt examinatbn li needed. I report In respect of my examlna¢ion of the Tru$Vs accpunti carri•d out under Section 145 of the 2011 Act aThd in carryiry out my ¢xamlna¢ion I have fdlowed ill th¢ applicable Dir¢ttlons ven by the Chadty Comm15¥Tr under ctlon 145{Sl(bl of the ACL Dlxon WIISOA. a firm ol Chart•r•d Accountwts of whlth l am a parth•r. hu provld•d bookkeeplnR SiThflc•s to th& Tru¥t and I h4Y• •ppll•d th¢ FRC'S Rwls¢d Eth11 Standard In rryIn& out rny •xamination. An Ind•p•nd¢nt •xamlnalon dots not Invofv• rdth•rlry all th• •d•Ac• thit would b• r•qu5r•d In art wdlt Ind consequèntly d¢+ not ¢over all th• matt•rs thart an iud5tor consld•rs in 8ivln8 thoir vpinlun on tht cOUnts. Th• prtnIn and conduct of an audit bwnd th• Ilrnlted uiuranEe that an lThd•pqndent •xamination can provld•. Consequ¢ndy. l express no oplnion as to wh•thor the accounti present a 'tru• and r. vl•w my r•port IIMk to thox specfft m•tt•rn i•t Out In the Ind•p•ndMt ax1.5 itrt•rnqnL lthd•ppnd•nt •Xwnln•I rtat•m•nt l im qui15fT•d to wd•rtak• the •xamination by be5nz a qualthed menèr of th• Intte of Chamred In Ewland and Wilti. I hiv• ¢ompl•t•d my •xamln•tl¢)n. I confirm thit no mltqr1 mittqrs ha¥• Eom• to my attMOn In Eonnqttlon wlth th• •xamination Klvlni m• cau1• to b•ll•v• that In any mat•rlal r•ip•cL' accomtlry r•Eordi w•rq not kept In r•ett of th• Truit ¥ r•qr•d by 130 of th• Act; or 2. th• xcounts do not accord with tha recor&: or 3. the a¢nts do not Comply with th• ipplicabl• r•quir•rn•nts conc•rninz th• form cont•nt of a¢¢oLthty set out in the Chrlti¢s IA¢¢ounts and R•ports) Rewlation3 2008 other than any r•quir•rn•nt thtt the Kcounts Ive i falr View whlEh is not a matt•r conslder•d as part of indqp•nd•nt e*amlnatlon'. or 4. th• KEounrs h•vq noi b••n pr•pared In aCCordce with the methodi and PrkncIOl of the Statement of R•¢omm•nd•d PrKtic• for iccountiri8 and reportln8 by charltle5 appSicable to dMrlt5es pr•p•rlng tholr accounts in accordance the Financial Reporting Stsndard applicable in the UK Republic of Ireland (FRS 102}. I have no concerni and have come acrosi no matters in connection with the examin¥lon to which ate¢ntloTh should be drawn in thls report in order to able a proper ynd¢rstandlng of th¢ accowits to be re•cW. GOROON 5PINKS ACA Wilson 22 Chancery Lan¢ London WC2A ILS 26 May 2022
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THE FftEEMASONS' FUND FOR SURGICAL RESEARCH ALANCÉ SHEET At J l Dec¢rnb•r 2021 Nott 2021 2020 Flx•d Investments at market vdue 7.679,782 7.101.893 Current w¢¢• Debtor5 Cash 10 1,620 43,742 2.191 27.827 45.362 30.018 CMdlt¢wk" *mounts hlllni du• wlthln on• year N•t cunwnt1Sabllttl•i (140,0011 194,6391 7,585.143 199.222) (69,204) 7.031689 IJ Tot•1 n•t a•••ts 13 RapIrtt•d br. Capital funds- Endowment lThcom• fundi- Unrestritt¢d 14 7,ni,356 {136,2131 7,585,143 7.052.544 (19,855) 7.032.689 The flnapKlal stat•mwts on p4u 8 to 14 w•r• approv by th• Trurt••s on 25 May 2021 IUSTINIAN ASH Trus¢••
THE FREEMASONS, FUND FOR SURGICAL RESEARCH NOTES TO THE FINANCIAL ST A TEMENTS Yev ended 31 December 2021 General Inlorniation Th• Charty 15 an unincorporated truL The prlnclpal address of the Char(ty1$ 7 Hansard Place. Romsey. Hampshir• S051 OEL. Accountin¥ polld•¥ 8a%ls of accountlnl The financial ststements have been prepared in ac¢ordanEe wlth Accounting and Rryborting by chat. Ststwn¢nt 01 ReCoMmd+d Prncticg applicable to tharitI pryring thelr •¢coynts Sn accordance wlth the Financial Reporting Standard apP1kab In the UK and Republlc ol Ir•land IFRS 1021 (effective I january 20191- Icharltyes SORP IFRS 10211. Th• Frnemawns, Fund for Surglcal R•March m¢¢ts th¢ d•finlthy) of a publlr benefit 11 und•r FRS 102. Prnp•r•tlon ofth¢ accounts on • Bolnz concern bdi The Trurtaas consldor th•t ¢h¢re are np mitsrfal E•rtasnts about the Charitlj ablllty to i going conc•r Them fthancml itatsm¢nts be•n Pr•pd under thè hlrtorlclf cost corw•ntlon modfi•d to Indud• the r¢valuition of Investsnenu. The finanoil ltat•rn•r ire pre8wted in Sterllng whith Is th• fiJrKtlonaJ currency of th• comPY and rouThded to th• n¢ares¢ £. Incom• r•ColtI0rt All Inrome Is recoKnis•d onc• th• Charlty has •n¢ltl¢mfffit to th¢ Income. It 51 Prob1• that th• Incom• wlll r•cold, and th• amgunt pf inEorne r•Eeivknl¢ Ean b• m•uured r•llably. Donalt)rn ar• r•cwI5ed onc• the Charfty has endtl•rn•nt to th• dOnaOn9. It Ss £•nTr that th• dgnatlpni wlll b• rècelved. th• mon¢tsry of th donations un be m•asured wlth iufflcknt rdiabllty. Interest on funds h¢ld on deposit i¥ inElud•d when receivable and the amgunt be me¥ur•d r•liibty by th• Charity,. this li norni1 ty¢n IfiCa7 of th• interest paid or payable by the bank Di¥id¢nds are re¢wis¢d onu th• dlYld•nd hai b••n d•cfar•d notlficatk)n has been reeel¥ed of the divldend du•. Exptndltur• r•coinltlon L5ablIeS are recogn1s as axp¢ndture as as th•re li a or constructive obllgatlon commlrylng th¢ Charlty to that exwditure, it Is probable that settl•ment w411 be r¢qulre4 and th• amount of the obliptlon can be measured r¢liably. For grant5 payl thi5 IS the polnt at which the reclpiant li notIft. Al &¥pénditur¢ Is a¢c¢)unt•d for on an accruals basSL Inve•tments lThve5trnwt5 are a form of basic finanaal Instnjment and arE Initially re£015¢d at their trACtion lue and subsequently measured at their fair value as at the balance sheat date UAing th¢ Closi quoted market price. The statenwnt of firn£1 artlvitSes Includes th• net rdin5 and 1055e5 adsing on revaluation and dlsposals throughr)v¢ ihe Cash blanw held as p¥t of 4 fid au•t inv¢stml portlolio ¥• presented as part offixed aJ%eti. Itontlnuedl 10
THE FREEMASONS. FUND FOR SURGICAL RESEARCH NOTES TO THE FINANCIAL ST A TEMENTS Year ended J l December 2021 Accountlnff polld• (contlnu•d) ReI9¢d ylns lols l Dins and losw are tak¢n to the StatemeTht of Financial Activities as arise. Kealls¢d and los¥es )D Investrnts are £ted as the dlffer¢n¢¢ betrem prott¢ds aThd thqir opeThinz carrylng value or their purchase value if xwired 5ub5equent to the first day of the finaThcil year. 1thweed Dins and los$es are ¢tlIted u th• dIffer*n befyfftn th• lalr ¥• at the rw-•nd and th•lr catyylng valuo. knlised 2nd Ire•d invertment Dlns and losses are combln•d in the StatèmÈnt of Finartc1 Capltal fundi- Endowm•nt Incoming r•u•$ ¥5slng from ErOWm•nt fundi arn unrutrlctod uTrleM otharwise specffi¢d by th¢ donor. FI<1•1 In•trnm•nti Financlal Inrtrumfjnts are clissthed and accounted for, accordlnl to the substsnce of the contractual arrgnym•nL finvscll •ss•¢i finan¢iil li•billties, or equity instThJments. An equlty Inwum•nt Is contract that èvldentei * r•fldual Int•r•rt In the •ssÈts of th• Cumpany ther d•du¢tinK Ill of 5ts Ilibllltl• St•ff numb• Th• aver42• wmb¢r 0fran$ emplod by the durlnl th• yw O (2020. 01, VoluntAry Incom• 2021 ?oio Other donatltsns 4,935 312 Ewndltuv• on rnlilnz fund• 2021 2020 Investment rhWbAym¢nt chiri•i 25,958 24,100 Exp•ndltuv• on ¢havlt4bl• actl¥ld•i Not• 2021 2020 Grants to Rpyal Cpll•8e of Suryeons of England 260.th]0 180,000 Accountancy and Sndepend•nt examlnatSon Bank charges LEI providèr lae 4,550 494 145 3.240 483 75 265,189 183.798
THE FREEMASONS, FUND FOR SURGICAL RESEARCH NOTES TO THE FINANCIAL ST A TEMENTS Y•ar endad JI December 2011 Total reourte expended has bo•n Jtst¢d ther ch•ryin 2021 2020 AtcountuKy Independent •xamination 2,990 1,560 1,950 1,29Q 3.24Q 4.550 TNrte•i Trurteu ir• not rwnun•rated and no havo be•n Incurrnd. Im7•itm•nts 2021 2020 Quot¢d Inv•gtments'. Canyni ftJu• Imrk•t valu•) at b¢WnnlD& of y•ir L•ss.' procttds of dlipoMII Add.. cost of addirloni 7,004,427 6,923.803 (2,261.4741 2.412.092 170.0541 7.004.42T 11,790.3341 1,750,618 N•t nI(1$) for th• Y (pay ei Carrylnl yu (muk•t YU0> at •nd of y•ar ih 709.690 7,674,401 5.381 97,466 Totsl fd ui•t Inv•rtm•nts Ip4e 9} 7,679,782 7.101.893 Quot•d Snv•itrn•nts at 5,874,747 5,604.017 10. D•bto 2021 2020 Accrued Incom• 1.620 2.191 Cv•dltors: Amounts 1118 du• wlthln one yev 2021 2020 GTrnts Plble ACC1 130,000 lo.1 90,000 9,222 140.001 99.222
THE FRÉEMA50NS' FUND FOR SURGICAL RESEARCH NOTES TO THE FINANCIAL ST A TEMENTS Y•ar onded 3 l Dec•rnb•r 2021 12. FInCIal •sxt% and Ilabllltl•s Th• following are financial assets that as baslc finwKlal Instruments ire lThlthlly recozniied xt their sador. ¥4¢ and 4ubsequen rnea5ured ac their P&r through iiicomè and eXnd(tU1 2020 Fln•ncid 1• Inv¢mvAbts 7,674.401 7.004.427 13. Any•ll of n•t aimts b•tw••n fund Net Fix Ilabllltl Totsl Unrertrtcthd lunds Endowm•Tht funth (13&213) 41,S74 (136.2131 7,ni,3S6 7.585,143 7,679,782 7.679,782 Tts at 31 D•c•mb•r 2021 (94.639) At 31 D¢cnber 2012. the Trvrtees [dened that the Trust had funds of 0,741349 reprèstnln8 np11•d tot rèturn, cakulatsd u th¢ tot•1 net ass¢¢s of £3.325.118 tt thit date, leii th• In11 Capi of 1582,769. Since tlHt da th• follv4ini mov•m•nts hv• tak•n plic•: 2021 2020 At l Janu¥y In¢reaselldecrea¥•l ITh unapplied to rnturn Inv•sknent man•8•m•nt f Alloat•d to trust for ¥pllodt)rt (p4• 8) At 31 DI¢b•r 3,95&2 709,69) 125.9581 119.8551 4,620,157 4.059,174 170,054) 124,160) 14680) 3.956,280 Aft•r th• v.¢nd th• Trusts•s r•solv¢d to mak• a tranif•r of £1 36,213 from Endowm•nt funds to Unr•rtrl¢tad fun& as permltted under the ¢onstltJJtiort of th• Fund. 13
THE FREEMASONS? FUND FOR SURGICAL RESEARCH NOTES TO THE FINANCIAL ST ATEMENTS Y••r ended J l De¢embor 2021 14. C•plt•l fvnd•- Endowm•nt ca funth vknKh at 31 Decembèr 2021 amounted to £7,721.356 fTDm corrtributiom recefved as follows from th¢ Suprwn¢ Gnnd Chapter.. Prior to 31 December 1969 581769 t>Jr(ng th¢ yw ¢nd¢d 31 D•bèr 2014 £1424.900 trIn8 th• year •Thdad 31 December 2016 £35.0th) DurlTh8 thé year •rthd 31 Dec•mb•r 2017 £21(MO During tho year endÈd 31 D•cemb¢r 2018 £27.733 In lits of tho cpltl contribuJon from the sJPr Grnnd Ch¥t•r In May 2014 and the vluB gf th Fund lrnmedlataty prior to its receip¢ it was res01Yed by the Trustses that fijture Frèemasons, Fellowihlp% ¢wabl• 4t Th$ Collw of Sur8•ons. shall henceforth be attrtbUt to th¢ Unitsd Grand Lod8e of Eniland and to the Suprem• Grand Chapter In th• Propo0 o13..2 wtth effect from l Janwy 2015. Of th¢ four Fellowihlps fvThded In the yw •nded 31 D•c•mb•r 2021, w¢r• attdbuted to the Unlt•d Grnnd Lodp gf and. Th• wltlon lIn l January 2015 Is ts follows.. Proportlon Unlt•d Grd Lodz• Suprnm• GrAnd ChApt•r Totsl 2015 2016 2017 2018 2019 2020 21ni 2..2 2..2 15. R•lat•d party tranln¥ Th•r• ha¥• bq•n no rnknt•d PArty tr4nsirtkM in th• y•v. 14
11- 5, 7 4 ft x¥ Xll¥l4- SI- Iz &, El 11- 13¥3a EIIX 1114al mr --11 321 511114 1
THE FREEMASONS. FUND FOR SURGICAL RESEARCH H15TOR Y OF GRANTS PAID TO THE ROY AL COLLEGE OF SURGEONS OF ENGLAND Grants h¥e been mAde to The Royal Col* Of¢0 of and as fdbw¥.' 1968 1969 12.OC#) 25.5C 35.OCQ 30,OC#) 30,3crf) 30.OCQ 30,OCrf) 30,OCQ 30.0 59.ICO 45,060 40.0 45,OLIJ 60,OC¢] 50,0 S5.oriJ I Is.oTrJ 86.125 n,875 75,0 97,5L)J 95.0 ios,0 ios.0 110,648 115,0 120,LI 136,OttyJ 140,0 145,0 147.W) 155.( 145,OLKJ 140,COJ 120,C¥)) 120,C 126.C¥)J 155,7fr) 135.fy>J 145.5 145,5 135.orpJ 13s.rj 130.0 135,0 135,0 135,OttyJ 220,OtKI 220,OKt 250,0 220.lx 220.0 ieo.o 260.0 19n 1973 1974 1975 1976 1977 1978 1979 1983 1985 1986 1987 1990 1993 1995 1996 1997 1990 1999 21)JO 21)Jl 2Q)2 2003 2004 2005 2006 2007 2008 2009 2010 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 6.035.308 Thii page doES not form part ofthe stttutory financial statemw¢s