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|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|
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|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|||||||
|Investments|Maintaining
investment
strategies to meet the requirements||||ofthe|||
||Charit, a
ointment
and monitorin
offund|mana
ers||||||
|Masonic Support|Consideration
ofapplications
from individuals|connected||with the||||
||masonic communit
for financial
relief|||||||
|Property (RMTGB|Development
and execution ofstrategies
to|optimise the||returns||||
|onl|from the Charity's
property
portfolio|||||||
|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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|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,||
|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||||||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||
|investment|porffolio|||||donors||advisors,
providing
monthly||
|||||||||performance
reporting
and||
|||||||||analysis.
Oversight
from||
|||||||||investment
and property||
|||||||||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||
|||||||||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||
|||||||damage,
adverse
impact upon||ofduties, authority
limits,
IT||
|||||||staff||security,
increased awareness||
|||||||||amon
st staff||
|Unavailability||of|office|||Operations
compromised||UGLE Business
Continuity
Plan||
|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||||
|Lack ofcompliance||||with||Breach of legal obligations,||HR procedureS
and staff||
|employment|legislation|||||potential
financial
penalties,||handbook.
Induction processes|for|
|||||||breakdown
of staff morale and||new staff. Ongoing
management||
|||||||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.||
|||||||service to beneficiaries
and||Comprehensive
documentation|of|
|||||||otential re utational
dama e||rocedures
and controls||
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||||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|||
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