THE GRAND CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charity Number: 281942 THE GRAND CHARITY Contents Page Trustee's Annual Report Statement of Trustee's Responsibilities 11 Auditorfs Report 12 Statement of Financial Activities 15 Balance Sheet 16 statement of Cash Flows 17 Note8 to the Financial Slatemenls 18 Page 2 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT The Trustee is pleased to submit its r8PCKt for the year ended 31st March 2025. Reference and Adminlstrative Infomiatlon Name and Reglstered Office The name of the charity is The Grand Charity (the °CharilK) and it has its registered Offi￿ at 60 Great Queen Street. London, WC2B SAZ. Trustees The Trustee who during th8 year were: The Masonic Charrtable Foundation ('MCF) (Corrxjrate Trustee. Registered Charity No. 1184703, Company Numb8r 09751836) The trustees of the MCF who served during the year were.. Clive Emerson (Treasurer) Dr Simon F8llerman Edward Goodchlld (Dewty Fyesident) Alan Graham. MBE Chnslopher Head {Resigned 151 August 2024) David Hudd (Appointed 29° May 2024) James Long, TD {President and Chairman) Charfotte Milbr {Resigned 13th Jun8 2024) Stephen Robinson Marie Shenton David Southem (Resigned 30th June 2024) David Stockdale (Appointed 2* May 2024) Bruce Walker Sir Paul Williams. OBE. KStJ. DL (Resigned 26° April 2024) Howard Wilson Page 3 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT Executive The Executive during the y8ar to 31* March 2025 were.. Les Hutchinson, Chief Executive Charfes Angus. Group Finance Director Brenda Nurse, Company Secretary Audltor Knox Cropper LLP, Chartered Accountants. 65 Leadenhall Str8et, London, EC3A 2AD Bankers Coutts & CA), 440 Strand, London. WC2R OQS Investmont Managers Royal London Asset Manag8m8nL 55 Gracechurch Slreet, London EC3V ORL Sollcltorn stone King LLP, Boundary House, 91 chartert￿ Street, London, EC1M 6HR Struc.luro, Governanc.o and Manag•m•nt Organisatlon The Charity was established by trust deed on 16Lh April 1980 by the United Grand Lodge of England, which provided initial funding from the Grand Lodge's of Benevolence. At a meeting held on 9th S8Ptember 2015, Ihe trustees approv8d a deed of amendment and reinstatement and an amended trust deed alt8nng the Gonstilutional and governance arr8NJements of the Charity to reflect changes in trustees and membershlp wlth effect from 1X April 2016. Th8 unrestricted assets and liabilities from the Charity. together with the assets and liabilities of the Transferred Benefirjaries Fund, were transferred to a fellow subsidlary company of the same name (charity number 1170335 and cornpany number 01487345.. hereafter 'TGC Company.) with effect from 181 February 2017 following a resdutb)n from the trustees made on 15 December 2016. The restricted Relief Chest FurKI remalns in Ihe unincorporated trusL As the sole trustee. the MCF exercises control over the Chanty. and will consolidate the Charity's r8suIts in its group accounts. Details of the processes for the appointment induction and training of the MCF'S trustees are glven in the annual report and acc￿nts of that cornpany. Page 4 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT Governance and Managem•nt All govemance and management capabilities are prowd￿j by the MCF and detsils of U)8 relevant committees and processes are provhled in the annual reporl and accounts of that company. Trustees and committees of the MCF address the specific needs of the Charity as part of their rolés and r8sponsibllltles for the MCF. The tru8tee boar(J and the main Gommittees meet as follows: Mootlngs par ear Boardlcommlttee Trustee Board Main decisionrymakn'ng body with ultwnate responsibility for th8 Chari Identification and mib. ation of risk oversi ht of exlemal audit Consideration of applications for grants from organisations reco nised b the Chari Commission Ensuring adequate pn)c8dures are in place to manage all as ¢ts of financial lannin controllln and re rtin Supporting the masonic communitys furKJ raising activities to su ort the Chari Maintsining investment strategi8S to meet the requirements of the Char intment and monitorin of fund mana ers Consideration of applications from individuals connected with the masonic communi for financial relief Delemination of executive and stsff & benefits Development and implementation of strategies to support the Charity's objectives. In addition, Ihe trustees hold an annual strat ic'awa da Audit and Risk Charity Grants Finance Fundralsing Investrnents Ma80nic Support Remuneration Strategy The Charity does not employ any staff. with services being provided by stsff employed by the MCF. Objoctlves and Activities ObJectiv•s Th8 Charity is the Central grant-making charity of 811 Freemas￿$ under the English Constltutlon. The objects of lh8 Charity, as expressed in the trust deed. are very broad and before the amermlments approved at the annual general m8eting in September 2015, gave disc¥etion to the trustees lo support haritabl8 purposes as recognised under UK Law. As a result of the amèndments. that discret￿￿ has now passed to the Trustee. The Trustee ha5 referred to the Chanty Commission's generdl guidance on public benefit when reviewing its aims and objectives and has ensured that Its grant4naking policies and activities comply with the requiremerrts Actlvftlas Following the transfer of grant making activitw to TGC Company in 2017. the sole actiwty ofthe Charity Is now to provide administrative Sem(￿ lo the Masonic communlty as laid out overleaf: Page 5 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT Activities (Contlnued) Relief Chest Scheme The Relief Chest Scheme (RCS), introduced in 1986, offers individual relief chests to lodges. chapters, woiinces and other recognised Masoni¢ organisations. which are used to generate funds for all types of charitable purposes. These fvnds are held by The Grand Charity unincorporated trust in a restricted fund. A donatK)n is made from a relief ￿￿t to a charity. an or9anisation r8cognised as charitable. or foran individual in distress only at the request of the relief chest holder. The RCS wivides %ital support to wovinc*s in festival and other appeals, ena￿Ing tN8m to reach their fundraising targets effiaentfy. It also ensures Ihat all ststutory C4)mplkqnce and admlnlstratK)n r8qulremenls, for exam￿8, of the Charity ComMis￿Ort. Infornialion Commissionerfs offi￿ and HMRC have be8n met. Invesknent In infrastructure and latest t￿hnOlogY ensures that the RCS delivers a rfsk management frameworf< in a CoSt-eff￿1enl manner. In 2018, RCS taunched donor advised funds for individuals. The IndiNidual Relief Chest Scheme (IRCS) programme was released in beta vers#)n. It is now open lo all Freemasons, their familses and friends. These funds are held by the Masonic Charitable Foundallon In 8 restricted fund. All services of the RCS are provi(led free, no administrab'on fee is charged to the chest holder. The services of the RCS, which assist donors to gr¥e to both Ma80nic and non-masonic charitable athvities efficiently, contribute to the wblic benefrt by Thting value for otlK8r charities and extendlng the Scheme'8 Positive impact. The Charity is transfomiing Masonic charitable gilryng to make the pr(Kes8 easy and to help give substantial donations each year lo charitable Causes. The Charity is committed to h8lping Freemasons to make a diffe￿nCe to the workl in whlch they live and to inspire greater generosity from Ihis community. by offering practical taik)r8d support through its wealth of resources and tools. Main su rtin theH norifi Evaluation IT s tem (HONE) RCS designed and developed an applicatlon lo manage the honorific programme for the Masonic Charitable Foundation. This IT systern is maintained and SLtpported by RCS. Page 6 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT Achievements and Perforniance During the year, activity in the RCS indud8d: 2025 2024 Number of Relief Chests Average number of monthly donations into the Scheme Percentage of donations eligible for Grfl Aid Average number of monthly pa￿nents from Scheme Number of new Relief Chests opened 5,238 5,148 48,628 45.973 93.3% SY).7% 762 532 203 205 Reli8f Chest holders utilised the Scheme by requesting ch8ritabl8 donations as follows. 2025 2024 £000 £000 Masonic Charitable Foundation Other charitsble purposes 9,801 11,327 Total The followng achlevements during the year ha¥* enhance(l the 8UPPOrt and services that the Relief Chest wowdes, therefore contributing towards the strategic objectives of the Charity.. Progressing the new se￿n-year straiegy for Ihe Relief Chest to womote eThJagemenl and Increase use by donors and potential donors. Eng8ging in a programme of community engagement with a further five provinces visited during the year and holding an open week for London lodges in July 2024. Implementation of new in-house &v(yJcher systern with a £18k saving on annual extemal support Rolllng out the new Relief Chest Online service that allows reli8f chest holder5 to access secur8ty their accounts online for enquiries and reporting. and to add second officers to the account. By the end of the year, 56% of Relief Chesl holders had ￿gistered for Ihe servK%. The number of active users had inowsed lo 687 by the end of the yEar (2024: 663). Increasing the proportion of donations received electronically from 12% in 2024 to 18% by th8 8nd of the year. Extending 'continuous gi%ing" between festivals with 13 proiincas signed up (2024.. 8) and 4,053 direct debits in operation (2024: 2.808). This will give the provinc8s Con￿me￿ a ￿YIng stsrf for when their nexi festivals are launched. Elimination of paper r8cords held off-site and proper managament of electronic records induding destruction at the appropriate times. Page 7 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT Financlal Revlew Review of tho Y•ar Incorning donations of £14.92 M were 4% higherthan prioryear. Inveslment in¢om8 of £1.06 M vrds 18% higher than prior year as a result of higher amounts on deposit. Expenditure of £14.85 M was 11% lower due to the inbtiative to r8solve dormant chests in the prior year. Masonic grants of £9.80 M V￿re 13% k)wer than prior year. whilst chafity grants of £5.05 M were 7% lower. The net infiow was £1.13 M against a prior year outllow of £1.50 M. R•s•rve8 Pollcy Following the transfer of accumuLqted unrestricted reserves to TGC Company, the Charity has b8come solely the methanism for continued operation of the Relief Chest. The policy is to transfer any ongoing resldual incoffle from donations and18gaci8s directly to the MCF immediately following r8C8iPt. Investm•nt Pollcy and P•rforn)an The aim Is to maintain the capital and generate a reasonable level of income by utilising the servi￿$ of Royal London Assot Managcmont Ltd (RLAMI, a qualifiod assot management fim r6gulated by the Financial Conduct Authority that prowde8 investment ￿PabIlItiaS across a range of asset classes. The position on risk is lo consider only low risk inv8Stments such as tr8asury bills, depostts wlth approved banks. certificates of d8posII by approved banks and other cash related ￿c￿lUCts. The Royal London Short Temi Money Market Fund ha8 been used for investing cash that 18 surplus to immedlate op8rational requirements. The SIK>rt-T8rn1 Money Market Fund can only invest in money market instruments, covered bonds. corporate bonds (minimum credit rating of A4-) Bnd Gi1181Supr8n81ion81, and is rated by Filch 88 an AAA money m8rk8t fund. For the year ended 31 M@rch 2024, the inve$tm8nl retum on the cash vas 5.2% after fees. This compares lo a benchmark retum of 4.9% (SONIA). Page 8 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT Principal Rlsks and Mltlgauon The principal risks id8nttfi6d arKI agreed adions to mitsgate are shown in th8 folkNlng table: Rl•k Significant unexpg*ed financial loss from opèrations uenG• Reputslional damage.10s5 of nfidence with key stakeholder5 arKI impact UPM C4)nbnuing financial sustainabil. Poor Serv￿ lo benefKyaries and reputalit)nal damage. Withdravrdl of 8ervKe8 frorn su iers Impacls finanual sustainabilty arKI repUtat￿nal damage wrfih donors Mltl atlon Strong financial Procedures, parucularly budgetary p4annin9 control. Overslghl from the Finarw Committe8. Inadequate liquidity to meet financial commitments Significant long-lerrn loss In the value of the Investment portfollo Cash ftow for8castlng and liquldlty F￿annIng within tha Inveslmenl Strategy Apwntrnent of Asset Risk Con$ultsnts as expgrt investment advis(xs, provldlng monlhty pWf￿mar￿ reporting and analysis. Oversohl from investment and committees. Strong Pr(￿edureS and controls for processing grants. Oversight from Ma50nic j and Chari Grant5 committoes UGLE manage and monllor nelwork¥. seNers and backup systems. and has dèployed appropriate defence mrthanisms e.g. firewalls. anliviru8 elc. Third paty f*)sled systems lappllc8tlon8 have relevant controls and 8ecurlty regimes. Information systems are only accessed wa the VPN nelwork andlor multi-f8Ctor authent￿atIon protocols. Grdnts M￿$0 outsKle the Charity'8 Objects and ralln uld811￿$ Cyberattack on IT system8 Reputational damage. k)ss of confidence with key 8takehol(iers and tenlial InJsle8 liabilit Operational disruplw resulting in financial, reputatiOr￿1, legal arKI rogulalory damage. MCF8 Infomiation S￿rity Group (ISGI have various digital & IT pr￿edureS and )ll￿e& in place. Cyber awareness and trainin mme mandalo for all staff. Data prOt￿tiOn polw, IT ￿Urity and HR li￿eS in lace Financial procedures. segregatlon of duties, authority limits. ￿ 88￿rity. increased awareness amon sl staff MCF 8u51￿55 Continuity Plan Data protection br￿h Reputational damag8 and S￿nIf￿an1 financial all Financial loss, repuiational damag?. adver36 impact upon slaff Fraud Unavailability of accommodation Loss of paper re￿r￿S from fireffioc#Jing Operats'ons o)mpromise Breach of legal o￿lgatiOns, afvwse impact upon optralJ'on$, potential financial nahies Bresch of legal Obligat￿$, by)tential financial penalties. breakdown of stsff morale and adverse impacl servte isKin Operational trrnkdown. adverse impact upon staff morale, ptry service to beneficiarw potential utstional dama Reduced re¢kgnce on paper re&Yd8 wlth intreaS￿ uso of rr. Lack of eompli8nce with employment leglslafjon HR rKtt&Jures and 8taff harKlbook. Inductlon processes for new staff. Onwing managomenl training and Personal Develo menl RevivN HR procedU￿S.. organis81ional and suc¢ession planning. Comprehensive d0￿Mentation of procedures and contrds Undue reliance on key persons Ri6k6 are activety monitored by the Executive and the senior leadet5hip team. and formally review8d by the audit and risk committee at their quarterfy meets'ngs Page 9 of 22 THE GRAND CHARITY TRUSTEE'S ANNUAL REPORT Plans for Future Periods The Charity will continue to operate the Rel￿f Chest Scheme as described in page 6 of this report for the foresgeable fulure. As part of the corwrale plan 2024125, RCS will: Roll out RCS on-lin8 to the remaining usern. Undertake a feasibility study lo improve the efficAenGy of d￿[la1 scanning and data capture. Promote further the use of QR cod88 to make donallons and reduce the amount of gift aKI envelopes for manual processing. Page 10of 22 THE GRAND CHARITY STATEMENT OF TRUSTEE'S RESPONSIBILITIES Statem•nt of Responslbllltles The Trustee is ￿sponsible for preparing Ihe trustee's report and financlal statements in aC￿rdance applicable law and United Kingdom Accounting Standards (U.K. 'GAW). The law applicablè to ¢haritres in England and Wales. the Charities Act 2011, Ihe Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require th8 Trustee to prepare financial statements for each financial year wttich give a true and fair view of Ihe state of affairs of the Charity and of the income and exp8fKliture of the Charity for that year. In preparing these flnan(ial statements. the Twstee is required to: select suitable ac(yJunting polrcies arKI th8n appty them . In our opinion the financial ststements= give a true and fair view of the state of the Chantys affairs as at 31 March 2025 and of its incornlng resources arKI applicatK)n of resources for the year then ended: hav8 been propety bYeP8red in acc(Kdance wlth United lQngdom Generally Accepted Accounting Practice,. arKI have been prepared in accordance with the Charities Act 2011. Bas1¥ ol oplnlon We conducted our audit in accordance vrith Intemalional Standards on Auditlng (UK) (ISAS (UK)) and applicable law. Our responsibililies under those standards are furthor described in the Auditor's responsibilities for the audit of the financial stalornents section of our report. W8 are Independent of the Charity in accordance with the ethical requirements that are relev8nt to our audlt of the financial Btatemenls in the UK, including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibilities in acoxdan¢8 with Ihese requirements. We believe thal the audit evKlonce we have oblainod is sufficionl and appropriate to prowde a ba6is for our opinion. Concluslon• rolatlng to golng concom In audltlng th8 financial statements, we have concluded that the Trustee's use of the golng conc8m basis of accounting In Ihe wepardtion of the financial statements is appropriate. Based on the work we have perfomed. we have rKJt identif*d any material uncertainlies relating to events or conditions that. indiwdually or collectively, may cast signifirnnt doubt on the Charity's abilty to continue as a going concern for a period of at thst iwelve months from when the finanaal ststements 8r8 authorised for issue. Our r8spon5ibilities and the re8ponsibilrti8s of the Trustee with resped to going concern are described In the relevant Sections of this report. Other Inf0M￿lon The other inform8tlon comprises the information in￿￿ed in the annual reporL other than the financial ststements arvj our auditorfs report thereon. The Trustee is responsible for the other infomiation. Page 12of 22 THE GRAND CHARITY REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEE OF THE GRAND CHARITY Our opinion on ttle finanoal ststements does not ￿Ver the otP￿ infomiation and we do not express any form of assurance condusion ther80n. Our responsibility is to read other infomiation and, In doing so, consider whether the other infomation is materially inoonsistent wrth the finano81 statements or our knowledge obtained in the audit or othemse appears to be materially misstated. If we identify such material in￿nSiStenC1eS or apparent material misstatements. w8 are required to determine whether tr￿fe is a matsrial misstatement in the financial statements themselves. If, based on the ¥￿thrk we have perfomèd. we ¢onclud8 that there is a mal8ri81 misstatement of this other infomation, we are required to report that fact. We have nothing to report in this regard. Mattorn on whlch we arn rnqulrad to rnport by excoptlon Wa have nothing to report in resF*¢t of the following matters in relatlon to which the Charities (Accounts and Reports) Regulations 2008 requlre us to report to you rf. in our opinion: the Info￿ation given in the financial ststements is inc<)nsistenl In any material ￿sPeCt with the trustee's report,. or sufficient accountlng records have not been kept; or the financial statements are not in agreement with th8 accountrw re(¥Jrd8" or we have not received all the infomiation and explanations we require for our audit. RMpon8lbllili08 of Tru8t•o As explained more fully in the Trustee's Responsibillties Slat8m8nt set out on page 11, the Trustee is responsible for the pr8paralion of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustee detefmines is necessary to enable the preparation of finanoal stslernents that are free from materlal mi88talement. wh8ther due to fraud or error. In preparing the financial statements. the Trustee is respon&bl8 for assessing the Charity's ability to continue as a going concem, disclosing, as applicable, matters r8lated to going concem and using the golng concem basis of accounting unless the Trustee either intends to liquidate the company or to cease operations. or has no reallstlc alternative but to do so. AuditoVs rn8pon8lbllili98 for tho audlt of tho flnanclal 8tat•m•nt8 We have been appointed as audttor under section 144 ofthe Charitres Act 2011 and report in accordance wrth the knt arKI relevant regulations made or hawng effect Ihereunder. Our objectlves are lo obtain reasonable assuran￿ about whether the financial statements as a whole are frèe from matenal misstatement, wheth8r due to fraud or wror, and to issue an audrtorfs report that includes our opinion. Reasonable assuran￿ is a hvJh level of assurance. but 15 not a guarantee that an audit conducted in aco)rdance with ISAS (UK) wlll atrways detect a material misstatement when it exists. Misstatements can arise frThn fraud or err￿ and are ￿n5￿￿ered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of user5 taken on the basis of these financial staiements. Page 13 of22 THE GRAND CHARITY REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEE OF THE GRAND CHARITY Irregularities. includino fraud. are instsn¢8s of rK)nw(X)mpIian￿ Vlith laws arKI regulations. We design proc8dures in line with our responsibilitie5. Outlined above. to detect material misststements in respect of irregularities, induding fraud. The extent to vthich our procedures are capable of detecting irregularities, including fraud is detailed b810w: The Charity is required to comply with charity Law and, based on our kncttAedge of its adivities, we identified that the legal r￿UIreMent to accuratsly a¢¢ount for any restrided funds was of key signrficance. We gained an underslanding of how the tharity complied with its18gal and regulatory frarnework, inclliding the requirement to properfy account f(Y any restricted funds. through discussions with management and a review of the documented policies, proc8dures and ￿nIr015. The aLKlil 18am, which is experienced in the audit of charitss, ¢on8id8red the charltvs susceptibilily to material mis8latem.ent and how fraud may occur Our considerations included the risk of management override. Our approach was lo check that all r8Stricled incom8 was properly identified and separately accounted for arKI to ensure that only valid and appropriate expenditure was charg8d to restrbcted funds. This included reviewing ioumal adjustments and unusual transactions. A furlli¥r dvbLiiyliuii ul uur responsibilitles for the audit of the financial statements is locat8d on the Financial ReF (11,327) (5,416) 16,743 Totsl •xp•ndltur• NET MOVEMENT IN FUNDS Total funds brought fopM8rd 19.814 21,312 T¢)tal fund8 Carr1￿ forward Al income and expenditure derive frc¥n continuing activities and all gainsn058e8 are included in the Statement of finanaal acts'vilies The notes on p8ges 18 to 22 fom part of the88 financial statemènts. Page 15of22 THE GRAND CHARITY BALANCE SHEET as at 31 MARCH 2025 Note March 2025 M8rd12024 £'ooo CURRENT ASSETS Debtors Short temi deposits Cash at bank and in hand 635 15,972 4.339 750 17,972 1.092 19,814 CURRENT LIABILITIES Creditors falling tJue within one year (4) 20,942 Total net assets 19,814 CHARITABLE FUNDS Re8trlcted Incom• lund8 Relief Chest 20,942 19,814 Total charltablo funds The flnancial statements were approved and authjrised for issue by the Trustee Board on 11 th September 2025 and signed on their behalf by. es ong. TD Clive Emerson President and Lhaimian Treasurer The notes on pages 18 to 22 form part of these financial ststgments Page 16 of22 THE GRAND CHARITY STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2025 2025 £,￿0 2024 £'ooo Operating AGtiviti•s Nel cash provlded byl(usèd In) 0￿r￿ing A¢tiviti08 192 2.639 Cash from Invostlng actlvftl Diwdends and int8rest from investments 1.055 891 Not cash provlded byl{u8od in) Investlng Activiti08 1,055 891 Change in ca8h arKI cash •qulval•nt8 In th• r•portlng p•rlod Cash and cash equivalents at the beginning of th8 reporting period Ca8h and rA8h oqulvalents at th• •nd of th• reporting period 1.247 (1,748) 19,Cffj4 20,812 19,064 Nots8 on tho cash flcm 4tat•m•nt Roconclllatlon of not Incom•l(oxp•ndltur•) to n•t ca•h flow from operntlng actlvltl•8 Net movement in funds as per the Statoment of Financial Actmtles 1,128 (1,4981 Adyjstments for. Dtvldends. interest and r8nts frcxn investments Decrease in debtors Increase In ¢reditorB {1.055) 115 {891) (250) N•t cash provlded byl(u8•d In) Oporatlng Activities 192 Analysls of caBh and cuh equlval•nts Short temi deposits Cash at bank and in hand 15,972 4,339 17,972 1,092 Total cash and cash oquivahnts Page 17of 22 THE GRAND CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (a) Statement of compllance The financial slatements of The Grand Charity (Ihe "Charl￿) have been prepared in accordanc8 with applicable UK accounting standards, induding Financial R8porting Standard 102 'The Financial Reporting Starthrd applicable in the United Kingdom and the Republic of Ireland" ("FRS 102.1. Additionally. they comply wilh the Ststement of RecommerKled Practice "Accounting and Reporting by Charities" {FRS 102 second edition) published in 2019 (the 'SORP} in all material respects. The Charity meets the definits'on of a public benefit entty under FRS 102. (b) Basis of praparatlon The financial statements have been prepared on a going concem basls under the historical cost convention, as modified by ￿ revaluation of investments. on a basis consistent wilh previous y8ars. The functional currency of the Charity Is considered to be Pounds Steding because that is the currency of the primary ecor￿mi¢ environment in which the Charlty operates. (c) Golng concorn The Trustee has assessed whether th8 use of the going concem assurnptlon Is appropriate In preparing these financial statements. The Trustee has made this assessment in respect to a period of one year from thè date of approval of these finanrjal statements. Tha Trustee has concluded Ihat there are no material unc8rtalnlies related to 8vents or conditions Ihat may signrficant doubt on the ability of Ihe Charity to ￿ntinUe as a going concem. The Trustee is of the opinion thal the charity will have sUffiC￿nt resources to meet its liakn'lities as they fall due. Page 18of 22 THE GRAND CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 (d) Inc¢)mlng resources 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 Spe￿fiC crlteria relating to each of thè Charity's revenue channels have been met. as described below: Monetsry donations are brought into account when received. Legacies are recognised where there has been a grant of probate, the executors have identified that there are sufficient assets in the esiate after settlement of liabilities to pay the legacy and any conditions attached to the legacy are eilher in ￿ntrol of the Charity or have been mel. Legacies subject to the inler8St of a life tenant are nol rewnised during the lifets'm8 of the lrfe tenant. {e) Resourc•8 •xp•nded Liabilities are recognised as experKliturn as soon as there is a legal or constructive obligati commlttlng th8 Charity to that expenditur8, It is probable that $8thement will be required and the amount of any obligation can b8 measured reliably. All resourcm expended are r8cognised on a¢¢ruals basls, with the exception of grants as noted below. Charitable actmties are split behveen masonic activit￿ and grants awarded to ext6mal institutions (desSgnated as 'r￿n-masOn1c" within the SOFA). Masonic activities include the payTnent of grants directly to benefioarl8S together with related welfare and support costs. Non-masonic aclivilies consist of the payment of grants to exlemal instilulions. Support cosis ar8 allocated to these acli¥itses on the bases laid out In note 4. Grants are recognised as expenditure in the year in vhlith the grant is forrnally approv8d by the Charity and has been communicated in wrlling lo the recipienL except to the extent that rt is subject to conditions that enable the Charty lo revoke the avrdrd. The provision for mults'.year grants is recognised at its present value when settlement Is due over more than one year from the date of the award. there are no unfulfilled perfonnance conditions under the control of the Charity that would pemil it lo avoid making fulure payments. settlement is probable and the effect of discounting is material. The dis)gnis8d at the settlement amount after any trade dlscounts. They are subsequently valued at amorbsed cost and assessed for impairment at the and of each reporting Period. l•Vhere Settlement is not expecled within 12 monlhs of the balan￿ Sheet date, then the a658t or liability is diswunted uslng the hjng temi retum of inflats'on plus 4 percent used as the target for the Charitys investment porttolio. Basic financial Instruments ind￿8 debtors, ￿sh and cr8ditors within the balance sheeL (i) Provlsions Provisrons are recognised when the Chaiity has a present 18981 or cor6tructtve obligation as r85uIt of past events. it is probable that an oufflow of resources will be required to settle the obligation and the amount has been ￿I1abty estimated. Provisions 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 2025 (k) Foreign curr•ncl•s Transactions denominated in fOre￿n Currencies are translated into PourKls Sterfing at the exc*ange rates ruling at the date of transadion. Monetary assets and liabilities der￿rnin8ted in foreign currencies are translated into Pounds Stsrlin9 at the rate ruling at the balance sheet date. All foreign exchange gains and bsses. realised and unrealised, ar8 recognised in the Statement of Financial Activities. (l) Taxation The Charity is exempt from taxation on its incom8 and gains falling wlthin Pdrt 11 ofthe Corwration Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied lo its charitable activiti8s. The Charity is unable to recover Valu8d Added Tax (VATI incurred on expenditure The amount of VAT that cannot b8 recovered is Included withln Ihè undertying cost lo which it relates. DONATIONS AND LEGACIES 2025 £'ooo 2024 £'ooo Donations to R81ief Chest Fund 14.919 14,354 3. INVESTMENT INCOME 2025 £'ooo 2024 £'ooo Interest on bank deposits 1,055 891 891 Page 21 of 22 THE GRAND CHARrrY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 4. CHARITABLE ACTIVITIES 2025 £'ooo 2024 £'ooo Masonic Relief Chest 9,801 11,327 9.801 11,327 Non•Masonlc Arned Forc8S Arts, Culture & Sport Disaster Relief Education EnviTonmenl, Conservation and Heritage Health and Dis8Lylity Hospices Other Charitable Purposes Rescue Serlices Research 66 79 52 366 22 1.969 336 87 55 470 126 1,890 244 665 1.094 330 1.945 92 5,416 DEBTORS March 2025 March 2024 £'ooo £'ooo Prepayments and accrued Income 635 750 635 750 CREDITORS March 2025 March 2024 £'ooo £'ooo Falllng duo within one ye•r Accruals and deferred income RELATED PARTY TRANSACTIONS Under the Relief Chest Scheme the Charity has made charitable donation5 to the MCF and other fellow subsidiaries on behaff of its holders as Sel out on page 7 of the trustee5' report. The MCF has borne all the administratbve costs of supporting Charity. ULTIMATE CONTROLLING PAR The uttirnate controlling party is the Masonic Charttable Foundation (Registered Chanty No. 1164703, Company Number 09751836). Consolidated accounts for the MCF. which indude the accounls of the Charity, can be obtained from registered offic* of the Charity. Page 22 of 22 ## **Issuer** Knox Cropper LLP **Document generated** Thu, 6th Nov 2025 14:29:15 GMT **Document fingerprint** 47fafc49c16cff2a92bad3047d40ad0a ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Mon, 10th Nov 2025 14:50:30 GMT Stephen Anderson - Signer (6a58d1931184f498eb03d4ff788a72cb) ## **Audit history log** ## **Date** ## **Action** Thu, 6th Nov 2025 14:29:15 GMT Thu, 6th Nov 2025 14:29:15 GMT Thu, 6th Nov 2025 14:31:02 GMT Thu, 6th Nov 2025 14:31:03 GMT Thu, 6th Nov 2025 14:31:17 GMT Fri, 7th Nov 2025 14:30:09 GMT Fri, 7th Nov 2025 14:30:24 GMT Sat, 8th Nov 2025 14:31:14 GMT Sat, 8th Nov 2025 14:31:31 GMT Sun, 9th Nov 2025 14:32:09 GMT Sun, 9th Nov 2025 14:32:32 GMT Mon, 10th Nov 2025 14:40:17 GMT Mon, 10th Nov 2025 14:40:32 GMT Mon, 10th Nov 2025 14:49:39 GMT Mon, 10th Nov 2025 14:49:39 GMT Mon, 10th Nov 2025 14:49:49 GMT Mon, 10th Nov 2025 14:50:30 GMT Mon, 10th Nov 2025 14:50:30 GMT Envelope generated by Olivia Burrell (77.98.20.200) Document generated with fingerprint 47fafc49c16cff2a92bad3047d40ad0a (77.98.20.200) Sent the envelope to Stephen Anderson for signing (77.98.20.200) Document emailed to party email Stephen Anderson opened the document email. 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