THE GRAND CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Charlty Number: 281942

THE GRAND CHARITY
Contents
Page
Trustee's Annual Report
ststement of Trustee's Responsibilities
Audltorfs Report
12
ststement of Financial Actlvltles
15
Balance Sheet
16
Statement of Cash Flows
17
Notes to the Financial Statements
18
Page 2 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
The Trustee is pleased to submit its report for the year ended 31 ¥1 March 2024.
Reference and Admlnlstratlve Information
Name and Registered Office
The name of the charity is The Grand Charity (the °Charity') and it has its registered office at 60 Great
Queen Str88t, London. WC2B 5AZ.
Trustees
The Trustee who served durlng the year were..
The Masonic Charitable Foundation l MCF.) (Corporate Trust88, R8gist8r8d Charity No.
1164703, Company Number 09751836)
The trustees of the MCF who served dunng the ye8r were..
John Boyington, CBE (Resigned 31st July 2023)
Sinead Brophy (Resigned 3111 July 20231
Simon Duckworth, OBE. DL {Re5igned 3181 July 20231
Clive Emerson (Appointed Treasurer 1st August 2023)
Dr Simon Fellerman
Edward Goodchild (Appointed 1•1 August 2023)
Alan Graham, M8E
Antony Harvey (Resigned 31" July 2023)
Christopher Head
Micha81 He8nan ITr8asurer) (Resigned 31. July 2023)
James Long, TD (President) (Appointed Chairman 1$1 January 2024)
Charlotle Miller (Appointed co-optee 111 August 2023)
St8ph8n Robinson
Marie Shenton (Appoinled 1st August 20231
David Southem
Bruce Walker
Andrew Wauchope (Resigned 3111 July 20231
Sir Paul Williams, OBE, KStJ, DL (Deputy Presi¢Jent and Cheirman to 31¥1 December 2023)
Howard Wilson
Page 3 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
Executiv•
The Executive during thè year to 31$1 March 2024 were:
Les Hutchinson, Chief Executive
Charles Angus, Group Finance Director
Brènda Nurse, Company Secretary
Auditor
Knox Cropper LLP, Chartered Accountants, 65 Leadenhall Str88t, London, EC3A 2AD
8ankern
Coutts & Co, 440 Strand, London, WC2R OQS
Investment Managers
Royal London Asset Management, 55 Gracechurch Street, London EC3V ORL
Sollcltors
Stone ￿ng LLP, Boundary Hous8. 91 Charterhouse St￿et. London, EC1M 6HR
Structura, Governance and Managament
Organl8atlon
The Charity was established by trust d8ed on 16th Aprll 1980 by the United Grand Lodge of England,
which provided initial funding from the Grand Lodge's Fund of Benevolence. At a meeting held on 9th
September 2015, the trustees approved a deed of amendment and reinstatement and an amended trust
deed altering the constitutional and governanc8 arrangem8nts of the charity to refleGt chang95 in truslees
and membership with effect from 151 April 2016.
The unrestricted assets and liabilities from the Charlty, togather ts￿th the assets and liabilities of the
Transferred B8n8ficiaries Fund, wère transferred to 8 fellow subsidi8ry company of the same name
{charity number 1170335 and company number 01487345., hereafter'TGC Company.) with effect from
1 St February 2017 following a resolution from the trustees made on 15 December 2016. The restricted
Relief Chest Fund remains in Ihe unincorporated trust.
As the sole trustee, Ihe MCF exercises control over the Charity, and will consolidate the Charity's ￿SuIts
in its group accounls. Details of the processes for the appointment, induction and training of the MCF'S
truslees are given in the annual report and accounts of that company.
Page 4 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
Governance and Manag•m•nt
All govemance and management capabilities are provided by the MCF and details of th8 relevant
committees and processes are provided in the annual report and account5 of that company. Trustees
and committees of the MCF address the specific needs of the Charity as part of thelr roles and
responsibilities for the MCF. The trustee board and the main committees meet as follows:
Boardlcommittee
Purpose
Meetlngs per
Trust8e Board
Main decision-making body with ultimate responsibility for the
Charit
léentification and mili
ation of risk. ov8rsi
ht of 8Xternal audil
Consideration of 8ppIic81ions for grants from organisations
reco
nised b the Charil Commission
Ensuring adequate procedures are in place to manage all
as
ects of financial lannin
controllin
and re
ortin
Supporting the masonic community's fund raising activitl8S to
su
ort the Charit
Maintaining investment strategies to meet the requirements of
the Charit
ointment and monitorin
offund mana
ers
Consideration of applications from individuals connected wilh
the masonic communil for financial relief
Determination of execulive and staff
& benefits
D8v8lopmenl and implementation of slrat8gies lo support the
Charity's objectives. In addition, the trustees hold an annual
strate
ic'awa
Audit and Risk
Charity Grants
Finance
Fundraising
Investments
Masonic Support
Remuneration
Slralegy
The Charity does not employ any staff, with services being prowded by staff 8mploy8d by the MCF.
Objectives and Actlvltles
Objectlves
Th8 Charity is the central grant-maklng cherity of all Freemasons under the English Constitution. The
objects of the Charity, as expressed in the trust deed. are very broad and before the amendments
approved at the annual general meeting in September 2015, gave discretion to the trustees to support
charitable purposes as recognised under UK Law. As a result of the amendments. that discretion has
now passed to th8 Trust88.
The Trustee has referred lo the Charity Commission's general guidance on public benefit when reviewing
its aims and objective5 and has ensured Ihat its grant-making poliGie5 and activities comply with the
requirements
Activities
Following the transfer of grant making activitl8S to TGC Company in 2017, the sol8 actiwty of the Charty
is now to provide administrative services to the Masonic community as laid out OV8rleaf=
Page 5 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
Actlvltles (Contlnued)
Relief Chest Scheme
The Relief Chest Scheme (RCS), intrOdU￿d in 1986, offers indiwdual relief chests to lodges,
chapters, provinces and other recognised Masonic organisations, which are used to generate funds
for all types of charitable purposes. These furKIs are held by The Grand Charity unincorporated
trust in a restricted fund. A donation is made from a relief chest to a charity, an organisation
recognised as charitablè, or for an individual in distress only at the request of the relief chest holder.
Th8 RCS provides vital support to provinces in festival and other appeals, enabling them lo reach
their fundraising targets efficiently. It also ensures that all statutory complianc8 and administration
requirements, for example, of the Charity Commission. Information Commissioner's Office and
HMRC have been meL
Inv8Stment in infrastructure and latest technology ensures that the RCS delivers a risk
menagement framework in a cost efficient manner.
In 2018, RCS launched donor 8dvSsed funds for Individuals. The Indivldual Relief Chest Scheme
(IRCS) programme was released in beta version. It is now open to 811 Freemasons, their families
and friends. These funds are held by the Masonic Charitable Foundation in a restrictèd fund.
All services of the RCS are provided free. no administration fee is charged to the chest holder.
The services of the RCS, which assist donors to give to both Masonic and non-masonic charitable
activities efficiently, contribute to the public benefit by creating value for other charities and
exlending the Scheme's positive impact.
The Charity is transfomilng Masonic charitable giving to make the process easy and to help give
substantsal donations each year to charitable causes.
The Charity is committed to helping Fr88masons to make a difference lo the wodd in which they
live and to inspire greater generosity from thls community, by offering practical tailored support
through its wealth of resources and tools.
Maintainin
and su
ortin
the Honorifics Evaluation IT s
stem (HONE)
RCS designed and developed an application lo manage the honorific programme for the Masonic
Charitable Foundation. This IT system is maintained and supported by RCS.
Pag8 6 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
Achievements and Performance
During the year, activity in the RCS included:
2024
2023
Number of Relief Chests
Average number of monthly donations into the Scheme
Averag8 number of monthly lax reclaims
Average number of monthly payments from the Scheme
Number of new Relief Chests opened
5,148
45,973
41,698
532
205
5,110
50,642
38,784
416
204
Relief Chest holders utilised th8 Scheme by requesting Gharitable donations as follows.
2024
2023
£000
Masonic Charitable Foundation
The Grand Charity (General Fund)
The Royal Masonic Trust for Girls and Boys
The Royal Masonic Benevolent Institution
Masonic Samaritan Fund
11,141
11.625
17
72
198
18
45
121
15
other charitable purposes
Total
The following achievements during the y8ar hav8 enhanced the support and services that the Relief
Chest provides, therefore contributing towards the strategic objectives of the Charily:
Implementing the new seven-year strategy for the Relief Chest to promote 8ngag8m8nt and
Increase use by donors and potential donors.
Engaging in a programrne of community engagement with eight provinces vlsited during the year
and holding an open week for London lodges in July 2023.
Rolling out the new Relief Chest Online service that allows relief chest holders to access securely
their accounts online forenquiries and reporting, and to add second officers lo the account. By the
end of Ihe year, 510/0 of Relief Chesl holders had registered for the service. The number of active
users had increased to 663 by the end of the year (2023.. 108).
Increasing the proportion of donations received electronically from 10% in April 2023 to 17¥0 by the
end of the year.
Increasing the proporlion of charitable donations paid through the e-voucher system to 66V. from
530/0 in the prior year.
Page 7 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
Achievements and Performance (continued)
Reducing dormanl Relief Chests to 117 at the end of the year, holding funds of18SS than £0.2 M.
Promoting 'continuous giving. be￿en f8Stivals with eight provinces signed up and 2,808 direGt
debits processed. This will give the provinces ¢oncem8d a "flying start" for when their next festivals
are launched.
A new document management strategy was implemented allowing for the elimination of paper
records held off-sit8 and the prop8r management of electronic records Including deslruction at the
appropriate times.
Flnanclal Ravlaw
Revl•w of the Y•ar
Incoming donations of £14.35 M were 5% high8r than prior year. Investment income of £0.89 M was
1880h higher than prior year as a result of signrficantly higher inter8St r8t8S.
Expenditure of £16.74 M was 9% higher. Masonic grants of £11.33 M w8r8 5% lower than prior year,
whilst charity grants of £5.42 M were 56% higher. The net oufflow was £1.50 M against a prior year
outflow of £1.47 M.
Reserves Pollcy
Following the transfer of accumulated unrestricted reserves to TGC Company, the Charity has become
solely the mechanism for continued op8ralion of the R81ief Chest. The policy is to transfer any ongoing
residual income from donations and legacies directly lo the MCF immediately following r8c8iPt.
Investment Pollcy and Porformance
The aim is lo maintain the capital and generate a r8asonabl818v81 of Income by utilising the services of
Royal London Asset Management Ltd (RLAM), a qualified asset management fimi regulated by the
Flnancial Conduct Authority that provides investment capabilities across a range of asset classes. The
position on risk is to consider only low risk investments such as treasury bills, d8posits with approved
banks, c8rtificat8s of d8POSit by approved banks and other cash related products.
The Royal London Short Teryn Money Market Fund has been used for investing cash Ihat is surplus to
immediate operational r8quirem8nts. The Short Term Money Market Fund can only invest in money
rnarket in5trumenls. covered bonds, corporat8 bonds {minimum cr8dit raling of A4-l and
Giltslsupranational, and is rated by Fitch as an AAA money market fund. For the year ended 31 March
2024, Ihe investment return on the cash was 5.3% after fees. This compares to a benchmark retum of
5.0% (SONIA).
Page 8 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
Principal Risks and Mitigation
The principal risks identified and agreed actions to mitigate are shown in the following table..
Rlsk
Con8
uence
Significant unexpected
Repulalional damage, loss of
financial loss from
confidence with key 51akeholders
operations
arKI impact upon continulng financial
su3tainabilil
Poor service to beneficiaries and
repulaliona1 damage. Withdrawal of
ke
services from su
liers
Impacts financial suslainabilily and
raputalional damagè with donor8
Mitl ation
Strong financial procedures, particularly
budgetary planning and control. Overslght
from the Finance Committee.
Inadequate liquidity lo
meet financial
commllmenls
Significant long-lerm loss
in the value of the
investment portfolio
Cash flow forecasting and liquidity
anning within the Investment Slrale9y
Appointment of Assel Risk Consultan18 as
expert investment advisors, provSding
monthly performance reporting and
analysis. Oversight from Investment and
ert
commillees.
Strong procedureg and conlrds for
processing grants. Oversight from Masonlc
ort and Chant Grants commillees
UGLE manage and rnonilor networks,
Servers and backup systems, and has
deployed approprlale defence
mechani8ms e.g. firewalls, antivirus etc.
Third paty ho$l&d systems lapplicalions
have ralevanl controls and security
regimes. Information systems are only
accessed vla the VPN nelwork andlor
mulll-faclor aulhenlicalion protocols.
Grants rnad8 outside the
Charity'5 Objects and
eralin
uiéeline¥
Cyberattack on IT
systems
Repulalional damage, loss of
Confidence with kèy stakeholders
and otential Iru51ee liabilit
Operational disrupllon resulting in
financial, rewlalSonal, legal and
regulatory damage.
MCF'S Infomialion Security Group {ISG)
hav8 varSous digital & IT procedures and
policie3 in place. Cyber awarenes8 and
Irainin
ro
ramme mandalo
for all 81aff.
Data protection policy. IT security and HR
olicias In
lace
Financial proGedures, segregation of
dutie5, authority limits, IT security,
increased awarenes¥ amon
st staff
MCF Business Continuity Plan
Data protection breach
Repulalional damage and significant
financial
enallies
Flnancial loss, repulallonal damage,
adverse impact upon staff
Fraud
Unavailabilily of office
accommodation
Loss of pap8r records
from flremoodlng
Operations compromised
Breach of legal obligations, adverse
impact upon operations, potential
flnancial
nallies
Breach of legal obligations, potential
financial penalties, breakdown of
staff morale and adverse impaci
on service
rovision
Operational breakdown, adverse
impact upon staff morale, poor
service lo beneficiaries ané potential
re
ulalional dama
Reduced reliance on paper records with
increased use of IT.
Lack of compliance with
employment legislation
HR procedures and staff handbook.
Induction processes for new Staff. Ongolng
management training and Personal
Develo
menl Review
HR procedures.. organisalional and
succession planning. Comprehensive
documentation of procedures and controls
Undue ￿lianCe on key
persons
Risks a￿ actlV8ly monitored by the Executive and the senior leadership team, and fomially reviewed by
the audit and risk committee at their quarterly meetings.
Page 9 of 22

THE GRAND CHARITY
TRUSTEE'S ANNUAL REPORT
Plans for Future Periods
The Charity will continue to operate the Relief Chest Scheme as described in pag8 6 of this ￿port for the
foreseeable future.
As part of the corporate plan 2024125, RCS will:
Roll out RCS on-llne to the remaining users.
Undertake a feasibility Study to improve the efficiency of dlgilal scanning and data capture.
Promote further the use of QR codes lo make donations and reduce the amount of gift aKI
envelopes for manual processing.
Page 10of22

THE GRAND CHARITY
STATEMENT OF TRUSTEE'S RESPONSIBILITIES
Statement of Responsibilities
The Trustee is responsible for preparing the trustee'5 report and financial statements in accordance with
applicable law and United Kingdom Accounting Standards {U.K. 'GAAP').
The law applicable to charities in England and Wales, the Charities Act 2011, the Charity (Accounts and
Reports) Regulations 2008 and the provisions of th8 trust deed require the Trustee to prepare financial
statements for 8ach financial year which give a true and fair view of the state of affairs of tha Charity and
of Ihe income and expenditure of the Charity for that yèar.
In prèparing these financial statements. the Trustee is required to..
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in Accounting and Reporting by Charilies.. Statement of
Recommended PractlC8 applicable lo charities preparing their financial stalem8nts in ac¢ordanGe
with the Financial Reporting St8ndard applicable in the United Kingdom and Republic of Ireland
(FRS102):
make judgements and estimates that are reasonable and prudent.,
slate whether United Kingdom accounting standards have been followed. subject to any material
departures disclosed and explained in the financial statements,. and
prepare the financial slat8m8nls on the going concern basis unless It Is inappropriate to presume
thal the charity will conlinue to operate.
The Trustee is responsible for k88ping adequate accounting records that disclose With reasonable
accuracy at any time the financial position of the Charity and enable it to ensure thal the financial
slalements comply with the Charities Act 2011, the Charity (Accounls and Reports) Regulations 2008
and the prowsions of th8 trust deed. It is also responsible for safeguarding the assets of th8 Charity and
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Audltor
A resolution proposing that Knox Cropper LLP be reappointed as audilor will be put to the members.
Approval by Trustee
This report. was approved by the Trustee on 121h Septemb8r 2024 and slgned on their behalf by
me
Longi
President and Chairman, MCF
Page 11 of22

THE GRAND CHARITY
REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEE OF THE
GRAND CHARITY
We have audited the financial statements of The Grand Charity (the "Chariv) for the year ended
31 March 2024, which comprise the Ststemant of Financial Activities, the Balance Sheet, the Statement
of Cash Flows and notes to the financial statements, including a summary of S￿n￿lcan1 accounting
policies. The financial reporting fram8work that has b88n applied in their preparation is applicable law
and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Fin8nci81
Reporting S¢andard applic8ble in the UK and RepublK of Ireland (United Kingdom Génerally Accepted
Accounting Practice).
In our opinion the financial slatemants=
give a tru8 and fair view of the stale of the Charills affairs as at 31 March 2024 and of its incoming
resources and application of resources for the year then ended:
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice. and
have been prepared in accordance with the Charities Acl 2011.
Basls of oplnlon
We conducted our audit in aGcordance with International Standards on Auditing (UK) {ISAs (UK)) and
applicabl8 law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charity in accordance with the ethical requirements that are r81evant to our audit of the financial
stalamanls in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audlt evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons r•latlng lo golng concern
In auditing the financial stslements. W8 hav8 concluded that the Trustee's use of the going concern basis
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not idents'fied any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on th8 charitys ability to
continue as a going concern for a period of at least twelve months from when the financial statements
a￿ authorlsed for issue.
Our responsibilities and the responsibilities of the Trus188 Wlth respect to going concern are described in
the relevant sections of this report.
other inforniatlon
The other information comprises the infomation included in the annual report. other than the financial
statements and our auditorfs report thereon. The Trustee is responsible for the other infomation.
Page 12 of 22

THE GRAND CHARITY
REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEE OF THE
GRAND CHARITY
Our opinion on the financial statements does nol cover the other inforniation and we do nol express any
form of assurance conclusion thereon.
Our responsibility is to read the other information and. in doing so. consider whelh8r the other infomiation
is materially inconsistent with the financial statements or our knowledge obtained in the audit or othe￿iS8
appears to be materially misstated. If w8 id8ntify such material inconsistencies or apparent material
misstslements, we are required lo determine whèther there is a material misstatement in the financial
slatements themselves. If, based on the work we have performed, we conclude that there is a mat8rial
misstatement of this oth8r information, we are required lo report that fact.
We have nothing to report in this regard.
Matters on whlch we are roqulred to report by oxception
W& h8ve nothing to report in respect of the following matters in relation to which the Charities (Accounts
and Reports) Regulations 2008 require us to report to you if, in our opinion..
the information given in the financial ststements is inconsistent in any malerial respect with the
Iruslee's report., or
sufficient accounting records have not been kept; or
the financi81 statements are not in agreement with the accounting records., or
we have not received all the inform81ion and explanations we require for our audit.
R•sponslb115tl08 of Trusteo
As explained more fully in the Trustee's Responsibilities Statem8nt set out on page 11, the Trustee is
responsible for the preparation of the financial statements and for being satisfied that they give a true
and fair view, and for such intern81 control as the Trustee d8termin8s is necessary to 8nable the
preparation of financial statements that are free from material misstatement. whether due to fraud or
error.
In preparlng the flnanclal slatemenls, the Trustee is responsible for assessing the Charilws abillty to
continue as a going concern, disclosing, as applicable, matters related to going concam and using the
going concem basis of accounting unless the Truste8 either intends to liquidate the company or to Cease
operations, or has no realistic alternative but lo do so.
Auditor's re8ponsibilitio8 for tho audlt of Iho flnanclal statements
We have been appointed as auditor undèr section 144 of the Charit18s Act 2011 and report in accordance
with the Acl and relevant regulations made or having effect thereunder.
Our obj8Ctives are to obtain reasonable assuran￿ about whether the financial statements as a whole
are free from material misstatement, whether du8 lo fraud or error, and lo issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit Gonducted in accordance with ISAS (UK) Mll always detect a malerial misslatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influ8nce the economic decisions of users taken on
the basis of these financial statements.
Page 13of22

THE GRAND CHARITY
REPORT OF THE INDEPENDENT AUDITOR TO TH& TRUSTEE OF THE
GRAND CHARITY
Irregularities, including fraud, are instances of non-compliance with l aws and regulations. We desig
procedures in line with our responsibilities, Outlined above. lo detect rnaterial misstatements In resp&ot
irregularities, including fraud. The extent to which our procgdures are capable of detectin
Irregularities, including fraud is detailed bèlow..
The Charity is required to comply wilh charity law and, based on our knowledge of its activities
we idenlified that the legal requirem8nt to accurately account for any restricted funds was of ke
signrficanc8.
We galned an understanding of how the charity complied with its legal and regulatory fram8work
including the requirement to prop8rly account for any restricted funds, through discussions witPi
management and a review of the documented policies. proced Ljres and controls.
The audit team. which is experienced in the audit of Gharities, considered the charity's
susceptibility to malerial misslat8ment and how fraud may O¢CLJ r. Our considerations included the
risk of management overrida.
Our approach was to check that all reslrict8d income was properly identified and separately
accounted for and to ensure that only valid and appropriate expenditure was charged to restricterj
funds. This included reviewing joumal adjustments and unusual transaction8.
A further description of our responsibilities for the audit of the financial st8tements is localed on the
Financial Reporting Council's website at.. www.frc.or
audltorsr
ie
This descripts'on foms
part of our auditor'5 report.
Use of the audlt report
This report Is made solely to the Charity's trustee. as a body, in accordan￿ with Part 4 of the Charities
(Accounts and Reports) R8gulatlons 2008. Our audit work ha5 been undertaken, so that we might state
to th8 Charity's trustee those matters we are raquired to stale lo them in an auditor's report and for no
other purpos8. To th8 fullest extent permitted by 18w, we do not aGc8pI or assume responsibility lo
anyone other Ihan the Charity and the Charity's Irustee as a body. for our audit work. for this report or
for the opinions we have formed.
kNfGwf LLP
Knox Cropper LLP
Slalulory Auditor
65 Leadenhall Stre8t
London EC3A 2AD
li M Se*ml*f ?¢?y
Knox Cropper LLP is eligible for appointment as auditor of the charity by ￿rtue of its eligibility for
appointment as auditor of a company under Section 1212 of Ihe Companies Act 2008.
Page 14of22

THE GRAND CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2024
Nole
2024
£'ooo
2023
£'ooo
INCOME
Donations and leg8cles
Investment income
14,354
891
13.617
309
Total Incom•
13,926
EXPENDITURE
Charltablè actlvltles
Mesonic grants
Non-masonic grants
Total oxpendltur•
(11,327)
(5,416)
(11,930)
(3.470)
16,743
15.400
NET MOVEMENT IN FUNDS
1.498
1,474
Total funds brought forward
Total funds carrlad forward
21,312
22,786
19,814
21,312
All income and expenditure derive from continuing activities and all gainsllos6e8 ar8 induded
in the statement of finanaal activities
The not85 on pages 18 to 22 form part of these financial statements.
Page 15 of22

THE GRAND CHARITY
BALANCE SHEET as al 31 MARCH 2024
Note
March 2024
£'ooo
March 2023
£'cKJo
CURRENT ASSETS
Debtors
Short term deposits
Cash at bank and in hand
750
17,972
1,092
500
19,222
1,590
19,814
CURRENT LIABILITIES
Creditors falling due within one year
Totsl n•t a•••ts
19,814
21,312
CHARITABLE FUNDS
R08tr1cted Incom• fund8
Relief Chest
19,814
21.312
Total charltabl• fund8
19.814
21,312
The fin8nci81 statements were approved and authorised for issue by the Truste8 Board on 12th
September 2024 and soned on their b8half by:
Jam
Long
TD
Clive Emerson
President and Chairman
Treasurer
The notes on page5 18 to 22 fom part of these financial staternents
Page 16 of22

r•
THE GRAND CHARITY
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2024
2024
£'ooo
2023
£'ooo
Operatlng kntivities
Net cash provlded byl(u8ed in) Oporating
Actlvltles
1.961
Cash flow8 from Invgstlng actlvlties
Dlwdends and int8r8St from investments
891
309
Net cash provlded byl(u80d In) In￿stIng
Actlvltl•8
891
309
Change In cash and cash oqulvalont8 In tho
roportlng perlod
Cash and cash equivalents at the beginning of the
reporting period
Cash and ca8h equlvalont8 at tho ènd of the
reporting perlod
11,748>
11,652)
20,812
22,464
20,812
Nolos on th• cash flow 8tatamont
Reconclllatlon of net Incomo1(expgndltur•) to
net
cash fl¢>w from operatlng actlvltl08
Nel movernent in funds as per the Statement of
Financial AGtivities
11.498)
(1,474)
Adjuslmenls for..
Dividends, interest and rents from investments
(Increase) in debtors
(Decrease) in creditors
Net cash provldod byl(used In) Oporatlng
Activiti08
(891)
(250)
1309)
{1741
(4)
2,639
Analysls of cash and cash equlvalonts
Short term deposits
Cash at bank and in hand
17,972
1,092
19,222
1.590
Total cash and cash oqulvalents
19.064
20,812
Page 17 of22

THE GRAND CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
(a) Statement of compllanco
The financial stsl8m8nts of The Grand Charity (Iha 'charit￿) have been prepared in accordance
with applicable UK accounting standards, including Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland. I'FRS
102°). Additionally, they comply with the Statement of Recommended Practice 'Accounling and
Reporting by Charities. (FRS 102 second edition) published in 2019 (the °SORP"} in all material
respects. The Charity meets the definition of a public benefit entity under FRS 102.
(b) Basls of proparation
The financial statements have been prepared on a going concern basis under the historical cost
convention, as modified by the revaluation of investments, on a basis consistent with previous
years. The functional currency of the Charity is considered lo be Pounds Sterling because that is
th8 currency of the primary economic environment in which the Charity operates.
(c) Golng concom
The Trustee has assessed whether the use of the golng concern assumption is appropriate in
preparing Inese Tinanciai staiements. Trie Tru31e¥ Floii 1118de Iriib ta¥¥ts¥¥iii¥iil iii Itl0V￿L tv ix V¥1 ILIU
of one y8ar from the date of approval of these financial statement5.
The Trustee has concludad that there are no malerial uncertainties r81at8d to events or conditions
that may cast significant doubt on the abilily of the Charity to continue as a going concem. The
Trustee is of th8 opinion that the charity will have sufficient resources to meel its liabilities as they
fall due.
Page 18 of22

THE GRAND CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
{d) Incomlng r880urces
Revenue is recognised when the significant risks and rewards of ownership have been transferred,
the amount of revenue can be measured reliably. it is probable that future economic benefits will
flow to the Charity and when the specific criteria relating lo each of the Charity's revenue channels
have been met. as described below..
Monetary donations are brought into account when received.
Legacies a￿ recognised where there has been a grant of probate, the executors have
identified that there are sufficient assets in the estate after settlèment of liabilities to pay the
legacy and any conditions attached to the legacy are either in control of the Charity or have
been rnet. Legaci8s subject to the interest of a life tenant are nol recognised during the
lifetime of the life tenant.
(e) Resource$ expendod
Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligation
committing the Charity to that expenditure, it is probable that settlement will be required and the
amount of any obligation can be measured reliably. All resourc8s expended are recognised on an
accruals basis, with the exception of grants as noted b810w.
Charitable activlties are split between masonic activities and grants awarded to external institutions
{designated as 'non-Masonic' within the SOFA).
Masonic activities include the paym8nt of grants diredly to beneficiaries togeth8r with related
welfare and support Costs. Non-masonic activities consist of the payment of grants to external
Institutions. Support costs are allocated to these activities on the bases laid out in not8 4.
Grants a￿ ￿cOgniSed as 8xpenditure in the year In which the grant Is form811y approved by the
Charity and has been communicat8d in writing to the recipient. exGept to the extent that il is subject
to conditions that enable the Charity to revoke the award.
The provision for multi-year grants is recognised at its prèsent value when s8ttl8ment is due over
more than one year from the date of the award, the￿ are no unfulfilled performance conditions
under the control of the Charity that would permit il to avoid making future payments, settlement is
probable and the effect of discounting is material. The discount rale used is the long-term retum of
inflation plus 4 p8rcent used as the target for the Charily's inv8Stment portfolio.
Page 19 of22

THE GRAND CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
(f) Employ80 beneflts
All staff are employed by the parent charity, The Masonic Charitsble Foundation, and no recharges
are made lo the Charity. Informatlon relating to those employees is given in the accounts of the
Masonic Charitsble Foundation.
(g) Fund accountlng
RestriGt8d funds are subject to specrfic conditions impos8d by the donors andlor for the purposes
for which they are raised.
Unrestricted fund8 may be utilised for any purpose in accordance With the charitsble objectives of
th8 Charity.
(h) Inv08tmants
Investments are recognised initially at fair value whlch is nomally the transaction price excluding
transaction costs. Subsequently, they are stated at market value. All r8alised and unrealised gains
and losses are recognis8d within the Statement of Financial Aclivi118s. Investments which the
Charity holds for resale or pending their sale and cash or cash equivalents with a rnalurity dat8 of
less than one vear. which are held for inveslmenl purposes, are disclosed as current asset
nvestmenis.
(i) Flnanclal a880ts and Ilablllt108
The Charity has chosen to adopl Sacllons 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and liabilities are recognised wh8n Ihe Charity becom8s a party lo the contractual
provisions of the instrument. Financial assets and liabililies which qualify as basic financial
instruments ar8 initially recognisèd at the selllement amount after any trade discounts. They are
subsequently valued al amortised cost and assessed for impairrnent et the end of each r8POrting
period. Wher8 settlement is not 8xpected within 12 months of the balance sheet date, then the
asset or liability is discounted using the long temi return of inflation plus 4 percenl used as the
target for the Charity's investment portfolio. Basic financial instruments include debtors, cash and
creditors within the balance shèet.
(J.) Provisions
Provisions ara recognised vthen the Charity has a present18gal or construcllve obligation as a
result of past events. il is probable that an outhow of resour￿$ will bè required to settlè the
obligation and the amount has been reliably estimaled. Prowsions are discounted to present value
where the effect is material.
Page 20 of 22

THE GRAND CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
{k) Forolgn currnncie8
Transactions denominated in foreign currencies a￿ translated into Pounds Sterling at the
8x¢hange rates ruling at the date of transaction. Monetary assets and liabilities denominated in
foreign currencies are translated into Pounds Sterling al the rate ruling at the balancè sheet date.
All foreign exchange gains and losses, realised and unrealised. are recognised in the Statement of
Financial Activities.
(l) TaxatSon
The Charity Is exernpt from taxation on its income and gains falling within Part 11 of the Corporation
Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the exlenl thal Ihey
are applied to its charitable activities. The Charity is unable lo recover Valued Added Tax (VAT)
incurred on expenditure The amount of VAT that cannot be recov8r8d is included within the
underlying cost to which it relates.
DONATIONS AND LEGACIES
2024
£'ooo
2023
£'ooo
Donations to R81i8f Chest Fund
14,354
13.617
14,354
13.617
INVESTMENT INCOME
2024
£'ooo
2023
£'ooo
Interest on bank deposits
891
309
891
309
Page 21 of 22

THE GRAND CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
4. CHARITABLE ACTIVITIES
2024
£'ooo
2023
£'ooo
Masonic
Relief Chest
11,327
11,930
11,327
11,930
Non-masonlc
Armed Forces
Arts, Culture & Sport
Disaster Rellef
Education
Environment. Conservation and Heritage
Health and Disability
Hospices
other Charitable Purposes
Rescue Services
ResearGh
72
27
117
303
20
1,673
217
608
351
82
79
52
366
22
1,969
336
489
1.945
92
3,470
DEBTORS
March 2024
£'ooo
March 2023
£'ooo
Prepayments and 8ccru8d Income
750
500
750
500
RELATED PARTY TRANSACTIONS
Under the Relief Chest Scheme the Charfty has made charrtable donations lo the MCF and oth8r
fellow subsidiaries on behalf of its holders as set out on page 7 of the truslees, report. The MCF
has borne all the adminislrative costs of supporting the Charity.
ULTIMATE CONTROLLING PARTY
The ultimate controlling party is the Masonic Charitable Foundation (Registered Charity No.
1164703. Company Number 09751836). Consolidated accounts for the MCF, which include the
accounts of the Charily. can be obtained from the ￿lStered office of the Charity.
Pag8 22 of 22