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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|
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|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 '.||||
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|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|
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|The pdncipal
dsks identified|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|
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||Note|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|
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|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|
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||||||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|
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|DONATIONS|DONATIONS|AND|LEGACIES|2021|2020|
|---|---|---|---|---|---|
|||||L'000|L'000|
|Donations|to|Relief|Chest Fund|8,446|13,199|
|||||8,446|13,199|
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|INVESTMENT INCOME|2021|2020|
|---|---|---|
||2'000|L"000|
|Interest on bank deposits|28|278|
||28|278|
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|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||||
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