| Trustee's Annual Report |
Trustee's Annual Report |
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| Statement ofTrustee's | Responsibilities | |
| Auditor's Report |
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| Statement ofFinancial | Activities | 15 |
| Balance Sheet | ||
| Statement ofCash Flows | 17 | |
| Notes to the Financial | Statements | 18 |
| All governance | and | and | management capabilities are provided by the MCF and |
details | of the | of the | relevant | relevant | |
|---|---|---|---|---|---|---|---|---|---|
| committees and |
processes are provided in the annual report and accounts of |
that company. | Trustees | ||||||
| and committees |
of | the MCF address the specific needs of the Charity as |
part of | their | roles | and | |||
| responsibilities | for the MCF. The trustee board and the main committees meet as follows: |
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| 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 of external |
audit | |||||||
| Charity Grants | Consideration ofapplications for grants from organisations |
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| reco nisedb the Charit Commission |
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| Finance | Ensuring adequate procedures are in place to manage all |
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| as ects offinancial lannin, controllin and re ortin . |
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| Fundraising | Supporting the masonic community's fund raising activities |
to | |||||||
| su ort the Charit |
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| Investments | Maintaining investment strategies to meet the requirements |
of | |||||||
| the Chari, a ointment and monitorin offund mana ers |
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| Masonic Support | Consideration ofapplications from individuals connected |
with | |||||||
| the masonic communit for financial relief |
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| Remuneration | Determination ofexecutive and staff a &benefits |
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| Strategy | Development and implementation ofstrategies to support |
the | |||||||
| Charity's objectives. In addition, the trustees hold an annual |
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| strate ic'awa da '. |
| TRUSTEE'S ANNUAL REPORT Achievements and Performance |
TRUSTEE'S ANNUAL REPORT Achievements and Performance |
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|---|---|---|---|---|---|
| During the year, activity in the RCS included: |
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| 2023 | 2022 | ||||
| Number of Relief Chests | 5,110 | 5,152 | |||
| Average number of monthly |
donations | into the Scheme | 50,642 | 37,884 | |
| Average number of monthly |
tax reclaims | 38,784 | 30,278 | ||
| Average number of monthly |
payments | from the | Scheme | 416 | 308 |
| Number ofnew Relief Chests opened | 204 | 144 | |||
| Relief Chest holders utilised the Scheme by |
requesting | charitable | donations as follows. | ||
| 2023 | 2022 | ||||
| 6000 | f000 | ||||
| Masonic Charitable Foundation |
11,625 | 5,986 | |||
| The Grand Charity (General Fund) |
17 | 2 | |||
| The Royal Masonic Trust for Girls | and Boys | 72 | 240 | ||
| The Royal Masonic Benevolent Institution |
198 | 400 | |||
| Masonic Samadtan Fund |
18 | 21 | |||
| Other charitable purposes |
3430 | 2885 |
| The principal risk |
The principal risk |
The principal risk |
s id | en | tified | and agreed actions to mitigate | are | shown in the following table: |
|---|---|---|---|---|---|---|---|---|
| Risk | Conse uence |
Miti ation | ||||||
| Significant | unexpected | Reputational damage, loss of |
Strong financial procedures, |
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| financial loss | from | confidence with key stakeholders |
particularly budgetary planning and |
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| operations | and impact upon continuing | control. Oversight from the Finance |
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| financial sustainabilit |
Committee. | |||||||
| Inadequate | liquidity | to | Poor service to beneficiaries | and | Cash flow forecasting and liquidity |
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| meet financial | reputational damage. Withdrawal |
planning within the Investment |
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| commitments | of ke services from su liers |
Strate | ||||||
| Significant | long-term | loss | Impacts financial sustainability |
Appointment ofAsset Risk |
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| in the value | ofthe | and reputational damage with |
Consultants as expert investment |
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| investment | porffolio | donors | advisors, providing monthly |
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| performance reporting and analysis. |
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| Oversight from investment and |
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| ro ert committees. |
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| Grants made | outside | the | Reputational damage, loss of |
Strong procedures and controls for |
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| Charity's Objects and |
confidence with key stakeholders |
processing grants. Oversight from |
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| operating guidelines |
and potential trustee liability |
Masonic Support and Charity Grants | ||||||
| committees | ||||||||
| Cyberattack | on | IT | All key operations are | United Grand Lodge of England | ||||
| systems | compromised | ("UGLE")and IT network providers |
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| have strong security procedures in |
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| place covering access, protection, | ||||||||
| backups and disaster recovery | ||||||||
| facilities. Mandatory cybersecurity |
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| trainin in lace for all staff |
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| Data protection | breach | Reputational damage and |
Data protection policy, ITsecurity |
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| si nificant financial enalties |
and HR olicies in lace |
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| Fraud | Financial loss, reputational | Financial procedures, segregation of |
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| damage, adverse impact upon |
duties, authority limits, ITsecurity, |
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| staff | increased awareness amon st staff |
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| Unavailability | ofoffice | Operations compromised |
UGLE Business Continuity Plan |
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| accommodation | ||||||||
| Loss ofpaper | records | Breach oflegal obligations, | Reduced reliance on paper records | |||||
| from fire/flooding | adverse impact upon operations, |
with increased use of IT. |
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| otential financial enalties |
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| Lack of compliance | with | Breach oflegal obligations, | HR procedures and staff handbook. |
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| employment | legislation | potential financial penalties, |
Induction processes for new staff. | |||||
| breakdown ofstaff morale and |
Ongoing management training and |
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| adverse impact upon service |
Personal Development Review |
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| rovision | ||||||||
| Undue reliance |
on key | Operational breakdown, adverse |
HR procedures: organisational and |
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| persons | impact upon staff morale, poor | succession planning. |
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| service to beneficiaries and |
Comprehensive documentation of |
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| otential re utational dama e |
rocedures and controls |
| Note | 2023 | 2022 | ||
|---|---|---|---|---|
| f'000 | E'000 | |||
| INCOME | ||||
| Donations and legacies |
13,617 | 10,567 | ||
| Investment income |
309 | 0 | ||
| Total income | 13,926 | 10,567 | ||
| EXPENDITURE | ||||
| Charitable activities |
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| Masonic grants | (11,930) | (6,649) | ||
| Non-Masonic grants |
(3,470) | (2,928) | ||
| Total expenditure | 15,400 | 9,577 | ||
| NET MOVEMENT | IN FUNDS | 1,474 | 990 | |
| Total funds brought | forward | 22,786 | 21,796 | |
| Total funds carried forward | 21,312 | 22,786 |
| THE GRAND CHARITY | |||
|---|---|---|---|
| BALANCE SHEET as at 31 MARCH 2023 | Note | March 2023 | March 2022 |
| f'000 | 6000 | ||
| CURRENT ASSETS | |||
| Debtors | 500 | 326 | |
| Short term deposits | 19,222 | 15,696 | |
| Cash at bank and in hand | 1,590 | 6,768 | |
| 21,312 | 22,790 | ||
| CURRENT LIABILITIES | |||
| Creditors falling due within one year |
(4) | ||
| Total net assets | 21,312 | 22,786 | |
| CHARITABLE FUNDS | |||
| Restricted income funds | |||
| Relief Chest | 21,312 | 22,786 | |
| Total charitable funds | 2'1,312 | 22,786 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| f."000 | f'000 | |||||||
| Operating Activities |
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| Net cash provided by/(used |
in) Operating | Activities | A | 1,961 | 813 | |||
| Cash flows from investing | activities | |||||||
| Dividends and interest from |
investments | 309 | 0 | |||||
| Net cash provided by/(used |
in) Investing | Activities | 309 | 0 | ||||
| Change in cash and cash |
equivalents | in the | ||||||
| reporting period |
(1,652) | 813 | ||||||
| Cash and cash equivalents | at the beginning | ofthe | ||||||
| reporting period |
22,464 | 21,651 | ||||||
| Cash and cash equivalents | at the end | of | the | |||||
| reporting period |
20,812 | 22,464 | ||||||
| Notes on the cash flow statement | ||||||||
| A | Reconciliation ofnet income/(expenditure) |
to net | ||||||
| cash flow from operating | activities | |||||||
| Net movement in funds as per the Statement |
of | |||||||
| Financial Activities |
(1,474) | 990 | ||||||
| Adjustments for: |
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| Dividends, interest and rents |
from investments | (309) | 0 | |||||
| (Increase) in debtors |
(174) | (174) | ||||||
| (Decrease) in creditors | (4) | (3) | ||||||
| Net cash provided by/(used |
in) Operating | Activities | 1,961 | 813 | ||||
| B | Analysis ofcash and cash | equivalents | ||||||
| Short term deposits | 19,222 | 15,696 | ||||||
| Cash at bank and in hand | 1,590 | 6,768 | ||||||
| Total cash and cash equivalents | 20,812 | 22,464 |
| DONATIONS | DONATIONS | AND | LEGACIES | 2023 | 2022 |
|---|---|---|---|---|---|
| F'000 | f'000 | ||||
| Donations | to | Relief | Chest Fund | 13,617 | 10,567 |
| 13,617 | 10,567 |
| INVESTMENT INCOME | 2023 | 2022 |
|---|---|---|
| E'000 | E'000 | |
| Interest on bank deposits | 309 | 0 |
| 309 | 0 |
| YE | AR ENDED 3 | AR ENDED 3 | 1 MARCH 20 | 1 MARCH 20 | 1 MARCH 20 | 23 | ||
|---|---|---|---|---|---|---|---|---|
| 4. | CHARITABLE | ACTIVITIES | 2023 | 2022 | ||||
| 8000 | F'000 | |||||||
| Masonic | ||||||||
| Relief Chest | 11,930 | 6,649 | ||||||
| 11,930 | 6,649 | |||||||
| Non-Masonic | ||||||||
| Armed Forces | 72 | 25 | ||||||
| Arts, Culture | &Sport | 27 | 18 | |||||
| Disaster Relief | 117 | 22 | ||||||
| Education | 303 | 154 | ||||||
| Environment, | Conservation | and Heritage | 20 | 13 | ||||
| Health and Disability | 1,673 | 2,017 | ||||||
| Hospices | 217 | 221 | ||||||
| Other Charitable | Purposes | 608 | 375 | |||||
| Rescue Services | 351 | 49 | ||||||
| Research | 82 | 34 | ||||||
| 3,470 | 2,928 | |||||||
| 5. | DEBTORS | March 2023 | March 2022 | |||||
| f'000 | 6'000 | |||||||
| Prepayments | and accrued | income | 500 | 326 | ||||
| 500 | 326 | |||||||
| 6. | CREDITORS | March 2023 | March 2022 | |||||
| E'000 | F'000 | |||||||
| Falling due | within one year | |||||||
| Accruals and | deferred | income |