2021-03-31-accounts - The Grand Charity

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Contents			Page
Trustee's	Annual Report
Statement	ofTrustee's	Responsibilities
Auditor's	Report		12
Statement	of Financial	Activities	15
Balance Sheet
Statement	ofCash Flows		17
Notes to the Financial		Statements	18

esponsibilities for th	e MCF. The trustee board and the main committees meet	as	follo	ws:
Board/Committee	Purpose			Meetings per
				ear
Trustee Board	Main decision-making body with ultimate responsibility	for the
	Charit
Audit and Risk	Identification and miti ation of risk, oversi ht ofexternal	audit
Charity Grants	Consideration ofapplications for grants from organisations
	reco nisedb the Charit Commission
Finance	Ensuring adequate procedures are in place to manage	all
	as ectsoffinancial lannin, controllin andre ortin .
Fundraising	Supporting the masonic community's fund raising activities		to
	su ort the Charit
Investments	Maintaining investment strategies to meet the requirements		of
	the Charit a ointment and monitorin offund mana	ers
Masonic Support	Consideration ofapplications from individuals connected with
	the masonic communit for financial relief
Remuneration	Determination of executive and staff a &benefits
Strategy	Development and implementation ofstrategies to support the
	Charity's objectives. In addition, the trustees hold an annual strate ic'awa da '.

During the year, activity in the RC	S included:
				2021	2020
Number of Relief Chests				5,055	5,030
Average number of monthly	donations	into the Scheme		31,628	55,199
Average number of monthly	tax reclaims			25,488	49,976
Average number of monthly	payments	from the	Scheme	283	411
Number of new Relief Chests opened				72	206
Relief Chest holders utilised the Scheme by		requesting	charitable	donations as follows.
				2021	2020
				6000	OOOO
Masonic Charitable Foundation				5,955	6,830
The Grand Charity (General Fund)				88	676
The Royal Masonic Trust for Girls	and Boys			382	1,365
The Royal Masonic Benevolent Institution				453	1,356
Masonic Samaritan Fund				83	88
Other charitable purposes				2 761	2921

The pdncipal dsks identified	The pdncipal dsks identified	and agreed actions to mitigate are	shown in the following table:
Risk		Conse uence	Miti ation
Significant unexpected financial loss from operations		Reputational damage, loss of confidence with key stakeholders and impact upon continuing	Strong financial procedures, particularly budgetary planning and control. Oversight from the Finance
		financial sustainabili	Committee.
Inadequate liquidity meet financial commitments	to	Poor service to beneficiaries and reputational damage. Withdrawal ofke services from su liers	Cash flow forecasting and liquidity planning within the Investment Strate
Significant long-term in the value ofthe investment portfolio	loss	Impacts financial sustainability and reputational damage with donors	Appointment ofAsset Risk Consultants as expert investment advisors, providing monthly
			performance reporting and analysis,
			Oversight from investment and
			ro e committees.
Grants made outside the Charity's Objects and operating guidelines		Reputational damage, loss of confidence with key stakeholders and potential trustee liability	Strong procedures and controls for processing grants. Oversight from Masonic Support and Charity Grants
			committees
Cyberattack on IT systems		All key operations are compromised	United Grand Lodge of England ("UGLE")and IT network providers
			have strong security procedures in
			place covering access, protection,
			backups and disaster recovery
			facilities. Mandatory cybersecurity
			trainin in lace for all staff
Data protection breach		Reputational damage and si nificant financial enalties	Data protection policy, ITsecurity and HR olicies in lace
Fraud		Financial loss, reputational damage, adverse impact upon staff	Financial procedures, segregation of duties, authority limits, ITsecurity, increased awareness amon st staff
Unavailability ofoffice accommodation		Operations compromised	UGLE Business Continuity Plan
Loss of paper records from fire/flooding		Breach of legal obligations, adverse impact upon operations,	Reduced reliance on paper records with increased use of IT.
		otential financial enalties
Lack ofcompliance with employment legislation		Breach of legal obligations, potential financial penalties,	HR procedures and staff handbook. Induction processes for new staff.
		breakdown of staff morale and adverse impact upon service	Ongoing management training and Personal Development Review
		rovision
Undue reliance on key		Operational breakdown, adverse	HR procedures: organisational and
persons		impact upon staff morale, poor	succession planning.
		service to beneficiaries and	Comprehensive documentation of
		otential re utational dama e	rocedures and controls

	2021	2020
	F.'000	E'000
INCOME
Donations and legacies	8,446	13,199
Investment income	28	278
Total income	8,474	13,477
EXPENDITURE
Charitable activities
Masonic grants	(6,962)	(10,315)
Non-Masonic grants	(2,787)	(2,921)
Total expenditure	9749	13236
NET MOVEMENT IN FUNDS	1,275	241
Total funds brought forward	23,071	22,830
Total funds carried forward	21,796	23,071

THE GRAND CHARITY
BALANCE SHEET as at 31 MARCH 2021	Note	March 2021	March 2020
		8'000	8000
CURRENT ASSETS
Debtors		152	217
Short term deposits		19,724	21,522
Cash at bank and in hand		1,927	1,339
		21 803	23,078
CURRENT LIABILITIES
Creditors falling due within one year		(7)	(7)
Total net assets		21 796	23071
CHARITABLE FUNDS
Restricted income funds
Relief Chest		21,796	23,071
Total charitable funds		21,796	23,071

					2021	2020
					2'000	f'000
	Operating Activities
	Net cash provided by/(used	in)
	Operating Activities				1,238	180
	Cash flows from investing	activities
	Dividends and interest from	investments			28	278
	Net cash provided by/(used	in) Investing
	Activities				28	278
	Change in cash and cash equivalents		in the
	reporting period				(1,210)	98
	Cash and cash equivalents at the beginning			ofthe
	reporting period				22,861	22,763
	Cash and cash equivalents	at the end	of	the
	reporting period				21,651	22,861
	Notes on the cash flow statement
	Reconciliation of net income/(expenditure)			to
A	net
	cash flow from operating activities
	Net movement in funds as per the Statement			of
	Financial Activities				(1,275)	241
	Adjustments for:
	Dividends, interest and rents	from investments			(28)	(278)
	(Increase)/decrease in debtors				65	(139)
	Increase/(decrease) in creditors				0	(4)
	Net cash provided by/(used	in) Operating
	Activities				1,238	180
B	Analysis ofcash and cash	equivalents
	Short term deposits				19,724	21,522
	Cash at bank and in hand				1,927	1,339
	Total cash and cash equivalents				21,651	22,861

DONATIONS	DONATIONS	AND	LEGACIES	2021	2020
				L'000	L'000
Donations	to	Relief	Chest Fund	8,446	13,199
				8,446	13,199

INVESTMENT INCOME	2021	2020
	2'000	L"000
Interest on bank deposits	28	278
	28	278

YE	AR ENDED 31	MARCH 20	MARCH 20	MARCH 20	21
4.	CHARITABLE	ACTIVITIES				2021	2020
						f'000	f'000
	Masonic
	Relief Chest					6,962	10,315
						6,962	10,315
	Non-Masonic
	Armed Forces					17	45
	Arts, Culture 8 Sport					42	25
	Disaster Relief					9	28
	Education					265	527
	Environment,	Conservation			and Heritage	22	35
	Health and Disability					918	1,495
	Hospices					161	191
	Other Charitable		Purposes			277	252
	Rescue Services					1,043	76
	Research						247
						2,787	2 921
5.	DEBTORS					March 2021	March 2020
						F'000	f'000
	Prepayments	and accrued			income	152	217
						152	217
6.	CREDITORS					March 2021	March 2020
						f'000	f'000
	Falling due within one year
	Accruals and	deferred		income