Charlty number: 1061764 THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 5 APRIL 2022
THE BENSON AND LIONEL BLACK CHARrrABLE TRUST CONTENTS Pag8 Reference and administrative details of the Charity. its Trustee5 and advisers Trustees. report Independent audltorfs report on the finan¢lal statemonts stst•mgnt of financtal a¢tlvlUos 10 Balance sh6•t 11 statem•nt of cash flows 12 Note5 to the financial statements 13-22
THE BENSON AND LIONEL BLACK CHARABLE TRUST REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022 Tru8tee$ Mr K J Blad( Ms J Black Mrs T H Black Mr N Young Charlty rggistsred numbèr 1061764 Prfncipal offl Risol House Mercury Way. Dumplin9ton Urmslon Manchester M417RR Indépèndont audltor Crowe U.K. LLP hartered ArrAJuntants 3rd floor The Lexicon Mount Streèt Manchester M2 5NT Bankers HSBC 11 Church Street WarTington Cheshire WA1 2EY Page 1
THE 8ENSON AMD LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2022 Thg Truslges prgsenl their annual report tcgether wrth the audited financial ststsmènts of the Charity for the 6 April 2021 to 5 Aprfl 2022. Objectlvos and a¢Ovltles a. Policies and oblectlves Trustees shall pay or apply the Income of the trust fund to such charfties or for charitable purposes as th8 trustees delemin8. The Trustees meet these alms by making grants trj eharhable insutulions as set crtrt In note 4 to Ihe accounts In settlng obleclNe8 and planning for activiti8s, th8 TnIstS have giv8n due consideration to genoral guidance published by the Charity Commlsslon relatirKJ lo publlc beneftL Induding the guidanco 'Publlc benefit". running a chanty IP821'. b. Prln¢lpal Actlvllles, Objects and Revlew of thg Trust The charitywas created on 18 February 1997 and was regL%tèred ag a thanty wlh th8 Charty Commi58ion on the 10 Apri11997. The trust had been created and Tegistered as a charity in order Ihal the assets of an eadier tru51 established by Mrs Hety Black on 2e March 1976 couka be transferr&J lo it. All the assets ofth8 oarlior trusts were transferred lo this trust Wttt) effect from 6 April 1998. The trusleas have wide discretionary power to donate the incilme arising in the trust for general charitable purposes. Donations mado In the year were in accordan wth the obiectives of that trust. K J Black is delegated by the trustees to deal Ihe day-t¢>day managernenl of the charity, including arranging the charitable activltias rellected in these accounts arKI obtaining appropriate advice conceming inveslments as required. Thé managem8nt of th8 trust is corKtuct8d solely by the tTUSlees and its acttvtknes in th8 year comprfsed the financial rnanag8mant of Its Investmgnts and th? donauon of the Sncome arising in the tnst. It has not undertaken any wider charitable adtvthgs nor had il engaged volunteers in any activities. In accordance wth thg obl8cls of the trust. the trustees aim io distslbule trust ndS for general charitable purposes. Th8 tNsl8es plan to continue makirKJ distributions at similar to thfj recent past su*ecl lo sufficient income arising in the trust lo continue with that FK>Iicy. c. Public benefit The Iruslees distribute the funds available in the Iw51 for general tharitable purposes. Details of the charitab16 activities are listed in the account5. The recipients are themselves eTiher regisl&red tharities or charitable causes and the donations made supporl Ihe work they undertake. whith includes educatlon81 activiUes and assisting disadvantaged members of society. The tsuslees wek(Ane applications for grants from a wide range of not for profit organisalions. When planning the activknes for lh8 year the trustees have considered (he Charity Comrnission's guidance on public benefit. Pag8 2
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022 Achlevements and perfomiance a. Rgvlow of activities Income for the year was £3.354.75412021: £542,679) and total expenses were £717,080 {2021.. £503,570). This produced a surplus for the year of £2,637,67412021.' Surplus of £39.1091. During the year, the Charity receNed £1.004.442 as a donation in rB8uM of a merger wth the Lionel Black Charitable Trust. During Ihe year gr3nts of £709.23112021.. £1.7[) were mada to insb'tution8. Unrestricted funds at the year were £2.916.992 (2021.. £279.3181. The charity alms to keep the lev¢1 of grant awdrde(I Inllne Ihe levels of income rec1Ve. b. Investment pollcy and perfornianco The charity aims to generate 2 relum on inveslmerrt at least equal lo infiats'on to maintain thè real value of the fiJnds invested. Financlal review . Gdng concgrn The Covid-19 pandemic has not had a signifnI. immediate impad on the charitys oporations. After making appropriate enquiries. the Iruslees have a reasonable expectation thal the Charity has adequate resou8 lo continue in operatsonal esten for the foreseeable future. For this r8ason they continue to adopt the going concern basis in preparing Ihe financial statements. The Trust has C4JnSiderab funds carried forward of £2,916,992 12021= £279,318} and has flexibility wilh regards to the grants they give to organlsalions. Furthèr detalls regarding tho adoption of Ihe going concem basis can be found in the Accounting Pollcles. b. ReseTVÈS poIIcy The trustoes consider that the reserves of the Tnjst shoukl be suffio8nt lo guarantee the long temi future of th Trust. Free reseN8S al 5 Aprfl 2022 amount to £2.712.08312021.. £70,276). The charity has a target free reserves level of £nil as it has no financial commitsnents other than the extent to which it awards grant fvnding. The Iruslees plan to utilise the free reserves over the next 2 years to bring in line wf(h the reserve wlicy. c. Principal fundlng The principal funding of the trust is by dimdends rerEived from Ri801 Imports Limited and donations from Reg8tt8 Limited. Pagè 3
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR TrIE YEAR ENDED S APRIL 2022 structur¢* govornance and management a. Constitutlon The 3enson and Lionel Black Charitable TTUSt is an unincorporated registered charity. The charity registration number is 1061764. There have been no changes in Ihe objectives since the last annual report. The tmslees who $8rved during the year were as follows". MrK J Black Ms J Black Mrs TH Black Mr N Young All decisions are mad8 by th8 charitys trustw. b. Methods of appolntmenl Qr elxtlon ol Trustees The management of the Charity is th8 responsibility of the Trustees are elected and co-opted under the letrns of the Trust dead. c. Grant maklng pollcy The charity provided grants to other charitable instibjlions vthin the Jewsh Communily In order to help fund the thariiable seNices they provide. d. Rlsk pollcy Th9 Trustees have assessèd the major risks to which the Charity is exposed. in particular Ih05e related lo the operabons and finances of Ihe Charity, and are s3tssffiI that systsms ané procedures are in place ID mitigate our exposure lo the major risks. 8. Fundra55ing The charlty had no fvndraising activths requiring disclosure under S162A of the Charities Act 2011. f. Charlty Governance Code The Truste8s intend to apply the Charity Governance Code and are GUTrenty assessing current areas of compliance ar awas where Improvements are lo be sought Plans for fulurg P9riods The trust plan8 lo continue lo make grants to charttable institutions for the foreseBable future. Pago 4
THE BENSON AJID UONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2022 Statement of Trusts•$' respon8ibilitiès The Trustees are responsible for preparing the Trustees. report and the financial slalements in accordancg with applicable law and United Kingdom Accounting Standards (United Kingdom Gen8rally Accepted Accounting Practice}. The law applicab5e to charites in England & Wales requires the Trustees to prepare financial ststements for each flnandal which give a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of resour(xs, including sts inujrne and expenditure, for that period. In preparing these financial statements, the Trustees are required lo.. select suitable a¢untIng polioes and then appty them consistenlw, obsaNe tha mbthcxls and prinoples of th& Chaiiti&s SORP IFRS 1021: make judgments and ac¢c¥unng esb'mates that a reasonable and prudent.. slate whether applicab UK Accounting Stsndards (FRS 1021 have been followed, sublect lo any material departures disclosed and explained in the ffinaw81 statements., prepare the fiNan¢ial statements on the going conc£m basis unts it is inapptDprio18 to presume that the Charlty will contlnue in business. The Trustees are responslble for ke8 ng adeouale accounting records that are sufficient to show and explain the Charrtls Iransactiolls and disclose wrth reasonable accuracy at any tim8 the financial position of the Chafily and enable them to ensure that the financkal statements compty the Charities Act 2011, the Charity {AOnts and R8lXYtsl Regulations 2008 and the provisions of the Trust deed. They are also responsib for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and deleclicin of fraud and other irregularitiès. Disclosuro of Inforniatlon to audllor Each of the persons who are Trustees at the time when this TfUStees' repcrft 19 approved has confimied Ihal.. 80 far as that Trustee is aware, th8rg is no relevant audit infomiation of which the charitys aLbditor Is unaware. and that Trustee has taken all the steps that ought to have been taken as a Tmslee in order lo be aware ol any relevant audit inf0mt'0n and to establish that the chariws auditor is aware of that infom)ation. Auditor The auditor, Crow8 U.K. LLP. has indicated w11ingn to continue in office. The cle5ignated Trustees wlll propos8 a motion reappointing the auditor at a wneeting of the Trustees. Approved by order of the members of the board of Trustegs and swjned on Iheir beha by.. Dale.. ULIDxJz3 Page S
THE BENSON AND LIONEL BLACK CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ThE BENSON AND LIONEL BLACK CHARITABLE TRUST Oplnlon We have audlted the financial statements of The Benson and Lionel Bkck Charilabie Trust (the 'charityl for thg year end&d 5 Apnl 2022 which comprise the Slat8m8nl of finanaal activrtigs, tho Balance sheet. the Slalgment of cash flows and the r&laled notès, IndLHYlng a sumwnary of svJniticant accounung pollcies. The financial reportlng framework that has been applied in thr preparation is appIab law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, {United Kingdom Generally Accepted Accounting Pfactic81. In our opinion the financtal statements.. glve a true and fair vigw of th& sl818 of the therit*s affairs as al 5 April 2022 and of Tis incoming Te8ources and 8pplication of Tesourcgs for the year th8n onded., have been properly prepared In accordance wlth Unw Kingdom Generally AcLepted Accounlng Practice; and have been prepared in aCrdance wtth the requiretnerts of the Charities Act 2011. 8a$l$ for oplnlon We conducted our audit in acQxwdan wtih 1ntemab.onal Standards on Auditing {UKI {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit of thg fin8ncial statèments sèction af our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the finanual statements in the United Kingdom, including the Financial Reporting Counthl's Ethical Standard, arKJ we have fulfilled our other tslhical responsibilities in accordancè with these requirements We believe Ihat the audit evidence we have obtained is sufficient and appropriate to provid& a basis for our opinh)n. Concluslons relatlng to golng concem In audltlng the financial slatemenls, we have condud8d that the Truslegs. us8 of the golng Goncern basis of accounting in the preparalion of the finanual statements is appropriate. Bas8d on th& work we have perfomied, we hava rt idantifd any maierial uncertainties relating lo events or conditions that, individually 0¢ Lyjllectively, may ca51 significant doubt on the d)aritys ability lo continue as a going concem for a period of at least e1ve month5 from when the financial statements are aulhorised for issuo. Our responsibilllies 8nd the responsibilibes of the Tntee$ th respect to going concem are described in the relevant sections of this report. Page 6
THE BENSON AND LIONEL BLACK CHARITABLE TRUST INDEPENDEKf AUDrroR'S REPORT TO THE MEMBERS OF THE BENSON AND LIONEL BLACK CHARITABLE TRUST IcoKfiNUEDI Olher Infomiatlon The other Inforniakn'on rmpseS the information indud6d in the Annual report other than the financial stal8m8nts and our Auditorfs r8P)rt thereon. The Trustees are reswn&ble for the other informat50n contslned within th8 Annual report. Our oplnlon on the finanaal statements does not cover the other infomiation and, except to the exlenl olhenNis8 explicitly stated in our ioporL we do not express any form of assurance conclusion thereon. Our responsibility Ss to read the other information and, in doing so. consider wh8ther the other informatltsn 18 materially inconsislenl with the finanual statements or our knowle(ige obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent malarial misstatements. we are required to detemiine whethor this gtves rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other informatlon, we are required to report that fact. We have nothing lo report in this regard. Matters on which we are requlred to rnport by •xceptlon We hav8 nothing tr) report in respect of the following matters where the Charities {AcUnts and Reports) Regulalon8 2008 r8quir8S US to report to you rf, in our opinion.. the inforniatlon glven in the Trustees, rewrt is inconsistent in any material respect wilh lh9 flnanclal stst6menls-, or sufficienl accounting records have not been kept: or the financlal statements are r1 in agreement with the accounting rerxjrds and retum8.' or we have not recelved all thè inf0mtiOn and explanations we require for our audiL Re5ponsibllltles of trustees explained more fully In 1he Trustses, responsibilities statemtsnl, the Trustees are responsible for the preparation of the financial statem8nls whTrch give a true and fair fftew, and for such intemal control as the Truslees dgtemine is neSSary to enab the preparation of financial state[Tts that are free from materfal misstatement. whether due lo fraud or error. In preparing financial statements, the Trustees ar8 responsible for assessing the charivs ability lo continu8 as a going concern, disclosing, as applicable, matters related lo going concem and using thp going concern basis of accounting unless the Trustees eithgr intend to liquidate Ihe charfty or to ase operations, or have no realistic allernalive but to do so. Page 7
THE BENSON AND LIONEL BLACK CHARABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BENSON AND LIONEL BLACK CHARrrABLE TRUST (CONTINUED) AudltOT'S responslbllltles for the audlt of the financlal ststamènts W6 have been appointed as auditor under section 144 of the Charlties Act 2011 and rewrt In accordan¢o wlh the Act and relevant regulations mad& or hav¢ng affect theiounder. Our obj6ctives are lo obtain reasonable assurance about whelher tho financial statement5 as a whole are fre8 from mal&rlal mlsslalemenl. whether due to fraud or error, and to issue an Auditorfs foport that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thal an audit conducted in accordance with ISAS IUKI will detect a Tnaterial misststement when it exists. Misstalemenls can arise from fraud or error and are considered mat8rial if. indivKlually or in Ihe aggregate, they could reasonably be expected to irtftuence th8 economic decisions of usors taken on the basis of these financlal s18tements. Irragularities. Induding frdud. are Instan of nonvc0mpl1an with18ws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material mi5Statemenls in respect of irregularilie5, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. We obtained an undarstarKllng of the legal and regulatory frameworks within whlch the charity op6rales, focusing on those laws and regulations that have a direct effect on tho dglerminalion Df material amounts and éisdosures in the fflnan¢lal statements. The laws and regulations we considered In thls Ix)nlext were the Charitie8 Act 2Q11 together with the Charities SORP {FRS 1021. We assassed the required complianc6 with these laws and regulations as part of our audit procedur&s on the rolated financial statement items. In addition, we considered provisions of other laws and regulations that do nol have a direct effect on the financial statements but compliance wth whlch might be fundamental to the charity's ability to operate or to av a materfal penalty- We also considered the opportunits.es and Incentives that may exist wlthln the charity for fraud. The key laws and regulations we consKJered in this context were General Dats Protection Regulation, and health and safely legislation. Auditing standards limrf( th8 required audit procedures lo identify non-wmpliance with these laws and regulations to enquire of the Trustees and olher management and Inspection of regulalDry and legal corresFX)ndence. il any. We idenbfied the greatest risk of material impact on the financial ststements from Irgu1a1rtieS, Including fraud, lo be the ovenid8 of controls by management. Our audit proowlures to r¢5pond lo these risks included enquiries of management 8nd the Board 8tKKrt their own identification and assessment of the risks of irregularities, reviewn9 record keeping, reMewirvJ accounting 88tim8tes for biases, and reading minute8 of meeungs of those charged with govemance. Ovmng to the inherent Ilmitalions of an audit, ther8 is an Unavoidab risk that we may not have d8t8¢t@d som8 wnalerial misslalements in Ihe finanal statement5. even though we havè properly planned and performed our audit in accordance with audil'ng stsndards. For examplg, th8 further removed non-compllance with laws and regulations lirregularitiesl is from the events and transadons reflected in the financial slatemenls, the less likély the Inherently limiled procedures required by audibng standards would id8ntify it. In addition, as with any audll. there remaineé a higher risk of non-del&ction of irregularities. as these may Invofve colluslon. forgery, intentional omissions. misrepresenlalion5, or the ovèthde of intemal controls. W@ are not responsib lor prevenUng noncompliance and cannot be expected to detect non(npllan with all laws and regulations. A further description of our responsibilities for Ihe audit of the financial statements is located on th9 Financial ReKK>rting Council's website at." www.frc.o .uklauditorsres nsibillties. This descripb'on fomis part of our AuditOT'S report. Page 8
THE BENSON AND LIONEL BLACK CHARABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BENSON AND LIONEL BLACK CHARrrABLE TRUST {CONTINUEDI Ust of our report Thls report is made solety lo Ihe charitys trustees, as a body. in accordance with Part 4 of th8 Charltle8 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the harivs trustees those matters we are required to slatg to them in an Audilorfs report and for no other purpose. To the fullast extent permtrted by L4w. we do not apt ur assume responslbility to anyong other than the charity and its trusiees. as a tx)dy, for our audit work, for Ihis report, or fi)r the opinions w8 have fomgd. UKUF Crowe U.K. LLP Chartèr8d Accountsnts 3rd floor The Lexi¢on Mount street Manchester M2 SNT Date.. 3rd August 2023 Page 9
THE BENSON AND UONEL BLACK CHARABLE TRUST STATEMENT OF FINATrICIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022 Unr•strl¢tgd funds 2022 Total funds 2022 Total funds 2021 Nots Income from: Dorhalions Investments Other income 3,004A42 339,213 11.099 3.004.442 339,213 11,099 540,000 2,679 Total Income 3.354.754 3,354,754 542,679 Expendllure on.. Charttable act1$ 717,080 717.080 503,570 Total expendlture 717.080 717,080 503,5TO Net m?vamont In funds 2,637.674 2,637,674 39.109 Reconclliatlon of funds: Total funds brought forward Nel movement in funds 279.318 2,637,674 279,318 2,637,674 240,209 39,109 Total funds carrlèd forward 2,916,992 2.916,992 279,318 The Statement of Finanoal Activrties includes all g8ins and bssos recognised in the year. The notes on pages 13 10 22 fomi part of these financial statements. Page 10
THE BENSON AND LIONEL BLACK CHARITABLE TRUST BANCE SHE AS AT S APRIL 2022 2022 2021 Flxod ass8ts Investmonls 204.909 209,042 204,909 209,042 Curr¢nt ass¥ts Cash at bank and in hand 2.719.025 T3,447 2,719,025 73,447 Cr8ditors.' amounts falling due within one year 12 (6.9421 (3.171) Not Gurrgnl assets 2,712,083 70,276 Total a6Sèts1oss current Ilabllltles 2.916.992 279,318 Net assfjts excludlng pension asset 2,916,992 279,318 Total not •ssots 2.916.992 279,318 Charlty funds R8Stricled fLtnds Unrestricted funds 2.916.992 279,318 Total funds 2,916,992 2T9,318 The finan(aal statements were approved and authorised the Trus188S on oLlorliJ 8nd sign&d Iheir behalf Thg notes on pages 13 10 22 fomi part of theso finanual s18tem8nts. Page11
THE BENSOM AND UONEL BLACK CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2022 2022 2Q21 Cash flows from 0ratIng actlvttles Net (*sh provided by op8rating activities 2,630,979 38,894 Cash flows from Invegtlng actlvltlès Proceeds from sale of investments 14.599 Net cash provided by imiesting actlvltles 14,599 Cash flows from flnanclng actlvltles Not cash provlded by financing actlvmèg Change In cash and cash equiyalerrts in the yèar Cash and cash equivalents al the beginning ofthe year 2,645,ST6 73N47 38,894 34,553 Ch and cash equivalents at the end of the year 2.719.025 73,447 Th8 notes on pages 13 to 22 form part ot these finanaal staternenls Page 12
THE BENSON AND UONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 General InformaUon The charty was created on 18 February 1997 and was registered as a drity with thè Charfty Commisslon on the 10 Apnl 1997 (charity nurnber 1061764). Accountlng poll¢le$ 2.1 Basis of preparatlon of flnanclal stat•m•nts The financial ststements have been prepared in ae4x)rdan(x wth the Charitses SORP IFRS 1021- Accounting and RapL)rting by Chariti88'. Stat&menl of Recommended Practice applicable lo charities preparing their accounts in accordance wkh the Flnanclal Rewrting Standard applicable in thè UK and Republic of Ireland IFRS 102) (effective 1 January 20191, the Financlal Reporting Standard applicable in the UK and Republlc of Ireland {FRS 1021 and the Charities Act 2011. Th8 Benson and Lionel Black Charttable Trust meets the definition of a public ben8fil entity under FRS 102. Assets and liabilities aw iniLalty recognised al histori(xl cost or transaction value unless olherwse staled In the relevant aou)unting p)licy. 2.2 Golng ¢on¢em The Covid-19 parKlemic h85 not had a signfftart Immediat& impact on the charitys operdlions. After making appropriate enquiries. the trustees have a reasonable expe¢tation that the tharily has adequate resources to contr'nue in operational existence for the foreseeable future. For this reason they continue to adopt th6 going ¢xbncem basis in preparing the ffinancial statements 2.3 Incomlng R•sour¢¢$ l incom8 Is recognised once the Charity h85 8nbUem8nt to Iho InCrne. it is probab5e that the Income wlll be received and the amount of incomè r1vab can be measured reliab. Income tax recoverable in reLgtion to Investment Income is recnISed at the me the Investment income is reNable. Oiher income is recognised in the periJ in whlch il is receivable and to the extent the goods havo been provided or on complotion of ihe servi. Page13
THE BENSOM AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Accountlng pollcles (conllnued) 2.4 Rèsources Expended ExndItUre Is recognised onca there is a legal or constructtve obllgation to transfer economi¢ benèfit lo a third party, it is probable that a transfer of economic bènefits 11 be required in sgtt1gm8nl and the amount Df the obligation can be m8awred reliably. Expenditure is classified by actlvlty. The costs of each activity are madg up of the total of direct costs and shared costs, induding suprx)rt Costs inVoed in uderta.ng each actwty. Direct costs attributable lo a singlg activity are allocated directly to that actiwty. Shared costs whith contribute to more than one activity and support costs which ar8 not attributable to a single activity are apportioned between those activrties on a basis consislenl with the use of resources. Central staff costs are alk)cated on the basis of me spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charli8b a(*vllles Is inujrred on directty undertaknng the oCtiviti8s which further the Charitys objecb'ves, as well as any asswated support Sts. Grants p8y8ble ar8 charged in the year wh8n th8 offer is made except in those cases where the offer is conditK)nal. such grants ng re(x)gnised as expenditure when tho conditions attaching are fulfilled. Grants off8r8d subj8Ct to conditions which hav8 nDt beèn met at the year end are notgd as a commitment, bLrt not accrued as onriu. l expendrfcure is inclustve of irrerAiverable VAT. 2.5 Inter•st re¢elvable Interest on fvnds h8ld on d9POSit is included when receable and the amount can be msasurect reliably by the Charity, this is nomially upon nDtification of Ihe Interest paid or payable by the Bank 2.6 Investments Fixed asset investTnents 8re a forwn of financial instrutnent and a initially recognised al their transaction cost and subsequenuy measured at fair value al the Balance sheet dale, unkgss thè value cannot be mèasured reliably in which case it is measured at cost less Impairment. Investment gains and losse5, whether reali5ed OT unrealised. are cL)mbined and presented as 'G?insl{LossEsl on investments, in the Statement of finanaal acbvibes. Inveslmenls held a8 fixed assets are shown at cost less provision for impaimi8nl. 2.7 Cash at bank and In hand Cash al bank and in hand includes cash and short temi highly liquid investments wlth a short aturity of thr&e months or less trom the date of acquisition or opening of the dewsil or similar acwunt. Page 14
THE BENSON AMD LIONEL BLACK CHAR ABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Accountlng polleles Icontlnuad) 2.8 Liabllltl•s and provlslons Llabllllles are recconised when th8re is an obligation at th8 Balance shget d818 as a Ul1 of a past event. il is probable that a transfer of economlc nefft wlll be required in settlemenL and the amount of the settlement can be estimated reliably. Liabilities are COgnised al the amount that Ihe Charity anliapat8s it will pay to settl8 the debt Dr the amount it has received as advan(%d payments for th8 g¢x>ds or services it musl provide. Provisions are measured at the best estimate of th8 amoun required to settle the obligation. Where th& effect of the time value of rnoney is material. the provision is based on the present value of thos amounts, discounted at the pr&tax discount rate that reflects the risk5 specific lo the liability. The unwnding of the discounl is re(x)gnis&l in the Statement of finanaal activities as a finan¢9 cost. 2.9 Flnancial instfumonts The Charity only has financial assets and finanual liabiliti8s of a kind that qualify as baslc financial instruments. Basic financial instruments are inriially recognised al transactiDn valu8 and subsequently measured at their setUem8nl value with the exception of bank loans whl¢h ar? subsoquenlly measured at amortised 8t using the 9118cllvo interest method. 2.10 Crltleal accounting 8Stimates and areas of Judgement E51imat8s and judgments are conts"nualty evalual&J and are basgd on historical èxperlence and other factors, includin9 expectstions of luture events Ihat are belleved lo be reasonabl8 ufKJer the circumstsnces. Critical accounting estimates and assumplions". The charity has not made any estimates and assumptions conceming the futuie. 2.11 Fund accounling Genèral funds are unrestricted furKls whidi are av8ilabk for use al the discretien of the Truste8s In furtherance of the general objectives of the Charity and which have not been designated for othttr purposes. Inveslmgnl incom&, gains and losses are allocated to the apprt>priale fund. Morgèr wlth Uonel Black Charitablo Trust On 5th May 2021 the Trustees of The Lionel BLack Chantable Trust {charity no 11841441 passed a resolution lo transfer the net assets of Ihe charity to The Benson Ar Llonel Black Charitabl@ Trust. This Tesulted in a gift arnOunng to £l,(MM.442 received as a donation on 10th May 2021 in the accounts of The Bénson and Lionel Blad( Charitable Trust. Post donation. The Lionel Black Charitable Trust was woundup. Page 15
THE BENSON AMD LIONEL BLACK CHARITABLE TRUST NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Incomè from donatlon8 Unrostrlcted funds 2022 Total fund5 2022 Donallons 3.004,442 3,004,442 UntB$tricled funds 2021 Total funds 2021 Oonations 540,000 540,000 Deta115 of Grarrts Payable- Instilutional 2022 2021 Grants payable to instiiubons 709.231 501,106 Totsl 7Q9.231 501,706 2022 2021 CST Norwood mmanuel college Jewish Leadership Counal Per&s Centre for Pea Jewish Care World Jewish Relief 35,000 25.000 70,000 33,009 35,000 100,000 21,750 25,000 71.000 25.000 35,DOO 100,000 271,481 25,000 UK Fnends of Yad Yisroel The Fed United Jewsh Israel Appeal Other Grants less than £20,000 33,250 120,900 185,456 Totsl 709.231 501,706 Page16
THE BENSON LIONEL BLACK CHARITABLE TRUST NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2022 ets118 of Grants Payable - Instltutional (continued) Grants were awarded to the above Instsiutsons In order to help fur tho charitable sgrvlcos they provide. Grants can be S[t into the followlng rAtagori8S: Education and Youth £92.075 Health and Welfare £124,800 Communlty and Rellglous £187.20CI Public Education regarding Isra81 and Ihe MKldle East £187.206 Outdoors and Humanitariars £96,000 £21.950 Education and Youlh The Tru51 support5 organisalions who are engaged in the education of and the development of people, often in the formative years of their lives. Health and Welfare The Trust supports oruanisations who help people who are ekjety. di8abled, or in need of asslslance. The TNst also supports research into suence and medicine. Communi and R81- ious The Trust supports a range of tharrbes. predominanty in the Jewish communty, which protect and strengthen cornmunlty cohesion and 8ngag8menl. Public Educaknon re ardin Israel and the MKldle East Thè Trust supports public understanding and educalion aiMwI and wthin Israel and the MKJdlo East OutdoDrs and Suslainabili The Trust supports a range of outd¢Jor. sustainabilrty. enwronmental and development causes. Arts The Trusts supports the arts and CUra1 sector. In 2022, of the total grants payable. £709,231 was to unrestricted funds and £NIL was lo restricted funds 12021.. £501,7Q6 Lsnreslricled. £NIL restricted lundsl. Investment income Unreytrictèd funds 2022 Total fvnds 2022 Totsl funds 2021 Investment income 339,213 339,213 Page17
THE BENSON AND UONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Other Income UnrestrlGted fund$ 2022 Total funds 2022 Other income 11,099 11.099 Unrgslrictod fvnds 2021 Tolol funds 2021 Other IroMe 2,679 2,679 An?lysl¥ of expendlture by ad]vltles Aclivitios undertaken directly 2022 Grant funding Elf activities 2022 Support costs 2022 Total funds 2022 Professional fees GTanl Funding 118 7,731 7.849 709,231 709,231 118 709.231 7.731 717,080 Activrfs undwtaken directly 2021 Grant fvnding of activities Support costs Total funds 2027 2021 2021 Prof&ssional fe8S Grant funding T9 1,785 1,864 501,706 501.706 79 507,706 1,785 5Q3,570 Paga 18
THE BENSON AND UONEL BLACK CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEPR ENDED 5 APRIL 2022 Audltorfs romun•ratlon Audttor's remuneradon aTrunts to an audit fee of £4.200. 10. Trustees. remuneratlon and 8xpenses During th& year. no Truste8s r1ved ary remuneration or other benefrts (2021- £NILJ. During the year ended 5 April 2022. no Trustee expenses have bogn incurrod (2021- £NILJ. 11. Flxed assot InVtments Othar flxed asset Invèstments Cost or valuation Al 6 April 2021 Disposals 209,042 14133} AI 5Apri12022 204.909 Net book valuè Al 5 April 2022 204,909 AI 5Apn"12021 209,042 Unquoted sècurftlos and other inv•$tments S 2022 2021 Rlsol Imports Mited £1 Ord Shares {number of shares- 278} Chièf rent8 204,909 204,90J 4, 133 204,909 209,042 All investments are stated at cost as falr value cannot b8 m8asur8d reliably. The net ass8ts of Rlsol Imports Ltd al 31 January 2022 are £100.018.00012021: £80,956.0001. The Benson and Llonel Black Charitable Trust owns 5.14% of Ihe shares of thg company. Page 19
THE BENSOM AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMEFrrs FOR THE YEAR ENDED 5 APRIL 2022 12. Crèdltors: Amounts falling duo wlthln ong year 2022 2021 Accruals and deferred income 6,942 3,171 13. Finan¢lal instruments 2022 2021 Financial assats Finanoal assets measured at amorbsed cost 2,923.934 282,849 Financ4al assets measured 01 amortised )st comprise cash at bank and investments al cost. 14. summary of funds Summary of funds . ¢urr•nt year Balance at 6 Aprfl 2021 Balance at 5 Aprll 2022 Income ExpDndlturg General funds 279.318 3.354.754 (717,0801 2.916,992 Surnmary of funds- prfor year Bal&nGe al 6 Apnl 2020 Bal8nGe al Income Ewendilure 5 Apnl 2027 General funds 240,209 542,679 (503,570) 279,318 Pagg 20
THE BENSON AND LIONEL BLACK CHARffABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 15. Analysls of nét assets betw•on funds Analysls of net assets betwoen fvnds - Current year Unrostrlct•d lunds 2022 Total funds 2022 Fixed ass81 inv8stm8nls Current assets Creditors due within one year 204,9t19 2,719,025 {6,9421 204,909 2,719,025 16,9421 Total 2,916,992 2,916,992 Anatysls of not assets b•tween funds . prlor year UnTrstri¢l6d funds 2021 Total funds 2021 Fixed asset investments CurT&nl assets Creditors du8 wlhin one y8ar 209,042 73,447 (3,171) 2Q9,042 73,447 (3, 171) Total 279,318 279,3q8 16. Roconclllatlon of net movement In funds to net cash flow from operatlng actlvltles 2022 2021 Net income for Ihe year {as per Statement of Financial Activities) 2.637.674 39,109 Adjustments for: Gainsl(lossesl on investrnents Increaselldecreasel in creditors (10,4661 3.771 [215) Not cash provlded by op8rntlng activitses 2.630,979 38.894 Pag& 21
THE BENSON AND UONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 5 APRIL 2022 17. Analysls of cash and ¢a$h gqutvalents 2022 2021 Cash in hand 2.719,025 73,447 Total cash and cash oquivahnts 2,719.025 73,447 18. Analys18 of ehangos In net debt At 6 Aprll 2021 Cash flows At 5 Aprfl 2022 Cash at bank and in hand 73.447 2,645.578 2,719,025 73.447 2,645,578 2,719,025 19. Related pa transactions During the prior year. a grant of £4,000 was made to Nightingale Hammerson, a chartfy for whom J Black was a trustee. During the year a grant of £100.000 was mad6 lo the Jewish Leadership coun1, 8 charily for whom K Black Is a Irustee. A grant of £35.000 was also made to CST, a charity for whom K Black was a trustee. Page 22