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|Trustee's
Annual
Report|Trustee's
Annual
Report||
|---|---|---|
|Statement ofTrustee's|Responsibilities||
|Auditor's
Report|||
|Statement ofFinancial|Activities|15|
|Balance Sheet|||
|Statement ofCash Flows||17|
|Notes to the Financial|Statements|18|
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|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:|||||||||
|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|||||||
||||reco nisedb
the Charit
Commission|||||||
|Finance|||Ensuring
adequate
procedures
are in place to manage
all|||||||
||||as ects offinancial
lannin,
controllin
and re 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 Chari, a
ointment
and monitorin
offund mana
ers|||||||
|Masonic Support|||Consideration
ofapplications
from individuals
connected|with||||||
||||the masonic communit
for financial
relief|||||||
|Remuneration|||Determination
ofexecutive 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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|TRUSTEE'S ANNUAL
REPORT
Achievements
and Performance|TRUSTEE'S ANNUAL
REPORT
Achievements
and Performance|||||
|---|---|---|---|---|---|
|During the year, activity
in the RCS included:||||||
|||||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|
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|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,|
|financial loss||from||||confidence
with key stakeholders||particularly
budgetary
planning
and|
|operations||||||and impact upon continuing||control. Oversight
from the Finance|
|||||||financial
sustainabilit||Committee.|
|Inadequate|liquidity|||to||Poor service to beneficiaries|and|Cash flow forecasting
and liquidity|
|meet financial||||||reputational
damage. Withdrawal||planning
within the Investment|
|commitments||||||of ke
services from su
liers||Strate|
|Significant|long-term||||loss|Impacts financial
sustainability||Appointment
ofAsset Risk|
|in the value|ofthe|||||and reputational
damage
with||Consultants
as expert investment|
|investment|porffolio|||||donors||advisors,
providing
monthly|
|||||||||performance
reporting
and analysis.|
|||||||||Oversight
from investment
and|
|||||||||ro ert
committees.|
|Grants made||outside|||the|Reputational
damage,
loss of||Strong procedures
and controls for|
|Charity's
Objects and||||||confidence
with key stakeholders||processing
grants. Oversight
from|
|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|
|||||||||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||Data protection
policy, ITsecurity|
|||||||si nificant financial
enalties||and HR
olicies in
lace|
|Fraud||||||Financial loss, reputational||Financial procedures,
segregation
of|
|||||||damage, adverse
impact upon||duties,
authority
limits, ITsecurity,|
|||||||staff||increased awareness
amon
st staff|
|Unavailability||ofoffice||||Operations
compromised||UGLE Business Continuity
Plan|
|accommodation|||||||||
|Loss ofpaper||records||||Breach oflegal obligations,||Reduced reliance on paper records|
|from fire/flooding||||||adverse
impact upon operations,||with increased
use of IT.|
|||||||otential financial
enalties|||
|Lack of compliance||||with||Breach oflegal obligations,||HR procedures
and staff handbook.|
|employment|legislation|||||potential
financial
penalties,||Induction processes for new staff.|
|||||||breakdown
ofstaff morale and||Ongoing
management
training
and|
|||||||adverse
impact upon service||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|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|||||
|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|
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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||f."000|f'000|
||Operating
Activities||||||||
||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:||||||||
||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|
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|DONATIONS|DONATIONS|AND|LEGACIES|2023|2022|
|---|---|---|---|---|---|
|||||F'000|f'000|
|Donations|to|Relief|Chest Fund|13,617|10,567|
|||||13,617|10,567|
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|INVESTMENT INCOME|2023|2022|
|---|---|---|
||E'000|E'000|
|Interest on bank deposits|309|0|
||309|0|
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|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||||
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