| ROYAL | IHASONIC | TRUST FOR GIRLS AND BO | YS |
|---|---|---|---|
| Contents | Page | ||
| Trustee's | Annual Report |
||
| Statement | ofTrustee's | Responsibilities | |
| Auditor's | Report | ||
| Statement | ofFinancial | Activities | 12 |
| Balance Sheet | 13 | ||
| Notes to the Financial | Statements | 14 |
| esponsibilities for th |
e MCF. The trustee board and the main comm | ittees meet |
a | s | follows: | ||
|---|---|---|---|---|---|---|---|
| Board/Committee | Purpose | Meetings | |||||
| sr | ar | ||||||
| Trustee Board | Main decision-making body with ultimate responsibility |
for the | |||||
| Charit | |||||||
| Audit and Risk | Identification and mitigation of risk, oversight |
ofexternal | audit | ||||
| Charity Grants | Consideration ofapplications for grants from |
organisations | |||||
| reco nised by the Charity Commission | |||||||
| Finance | Ensuring adequate procedures are in place |
to manage | all | aspects | |||
| offinancial planning, controlling and reportin. |
. | ||||||
| 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 |
ofthe | |||||
| Charit, 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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| Property (RMTGB | Development and execution ofstrategies to |
optimise the | returns | ||||
| onl | from the Charity's property portfolio |
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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 | ||||||
| strate ic 'awa da |
| The principal | risk | risk | s id | en | tified | and agreed actions to mitigate | are s | hown 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 | |||||
| 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 |
||||
| meet financial | reputational damage. Withdrawal |
planning within the Investment |
|||||||
| commitments | ofke 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 |
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| investment | porffolio | donors | advisors, providing monthly |
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| performance reporting and |
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| analysis. Oversight from |
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| investment and property |
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| 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 | ITsystems | All key operations are |
United Grand Lodge of England | |||||
| compromised | ("UGLE")and IT network providers | ||||||||
| have strong security procedures | in | ||||||||
| 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 |
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| damage, adverse impact upon |
ofduties, authority limits, IT |
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| staff | security, increased awareness |
||||||||
| amon st staff |
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| Unavailability | of | office | Operations compromised |
UGLE Business Continuity Plan |
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| accommodation | |||||||||
| Loss ofpaper | records | Breach of legal obligations, | Reduced reliance on paper records | ||||||
| from fire/flooding | adverse impact upon operations, |
with increased use of IT. | |||||||
| otential financial enalties |
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| Lack ofcompliance | with | Breach of legal obligations, | HR procedureS and staff |
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| employment | legislation | potential financial penalties, |
handbook. Induction processes |
for | |||||
| breakdown of staff morale and |
new staff. Ongoing management |
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| adverse impact upon service |
training and Personal Development |
||||||||
| rovision | Review | ||||||||
| Undue reliance on key | Operational breakdown, adverse |
HR procedures: organisational |
and | ||||||
| persons | impact upon staff morale, poor | succession planning. |
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| service to beneficiaries and |
Comprehensive documentation |
of | |||||||
| otential re utational dama e |
rocedures and controls |
| Note | 2023 | 2022 | |||
|---|---|---|---|---|---|
| OOOO | OOOO | ||||
| INCOME | |||||
| Donations | and legacies | 373 | 546 | ||
| Total income | 373 | 546 | |||
| Transfer out | to Incorporated | Charity | (373) | (546) | |
| NET MOVEMENT IN FUNDS |
0 | 0 | |||
| Total funds | brought forward | ||||
| Total funds | carried forward | ||||
| All income and expenditure | derive from continuing | activities and all gains/losses | are included | ||
| in the statement offinancial |
activities |
| ROYAL MASONIC TRUST FOR GIRLS AND | BOYS | |
|---|---|---|
| BALANCE SHEETas at 31 MARCH 2023 | March 2023 | March 2022 |
| E'000 | L'000 | |
| CURRENT ASSETS | ||
| Cash at bank and in hand | ||
| Total net assets | ||
| CHARITABLE FUNDS | ||
| Unrestricted funds |
||
| General reserves |