Charity humr. 1061764 THE BENSON AND LIONEL BLACK CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 5 APRIL 2023
THE BENSON AND LIONEL BLACK CHARITABLE TRUST CONTENTS Pag8 Reference and admlnlstratlve detalls of the Charity, Its Trustoès and advisèrs Tru$tèe$' report Indapendont examinèrfs report Statsment of financlal actlvltles Balan¢9 shaot Stat•mènt of cash Ilows 10 Note5 to the financial statemonts
THE BENSON AND LIONEL BLACK CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023 Tru$tg0$ Mr K J Black Ms J Black Mrs T H Black Mr N Young Charlty r¢glstered number ll1764 Principal office Risol House Mer¢uryWay. Dumplington Umislon Manchester M41 7RR Accountants Crowe U.K. LLP Chartered Acxountants 3rd floor Thg Lexicon Mount Street Manchester M2 5NT Bankors HSBC 11 Churth Street Warrington Cheshire WA12EY Page 1
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2023 The Trustees present their 8nnu81 report together wmlh the financial statements of the Charity for the 06 April 2022 10 5 April 2023. Oblo¢tlvg$ and actlvltle$ a. Pollci•s and oblectlves Trustees shall pay or apply the income of the trust fund to such charibes or for such charitable purposes as the trustees dglermin8. The Trustees meet these aims by mthng grants to charitable instituuons as sel out in note 5 lo tho accounts In 8elts.ng objectives and planning for ac1ivities, the Trustees have given due consideration to generdl guidance published by the Charity Commission relab.ng to putAic benefit. including the guidance 'Public benefrt.. running a charity {P821'. b. Prlnclpal Actlvltles. Oblocts and Revlew of th• Trust The charity was created on 18 February 1997 and vras registered as a charitywllh the Charity Commission on the 10 April 1997. Thg trust had been created and registered as a charity in order that the assets of an earlier trust estsblishod by Mrs Hetty BLgck on 26 Maich 1976 wuld be transferred to it. Aji the assets of the earlier trusts wère transferred to this trust yth effect from 6 April 1998. The tNslees havfj wide discretionary power lo donate the income arising in the trust for general Gharitsble purposes. Donations made in the year We in accordance the objectwes of that trust. K J Black is delegal8d by th8 Injstees to deal with th& day-ldaY management of the charity, in¢luding arranging the charllable activities reflected In accounts and obtaining appropriate advice conceming investrnenls as reoulred. The management of the trust is conducted solety by the trustee5 and Tts activities in the year comprised the financial management of its inveslrr,ents and the donation of the income arising in the trust. 11 has not undertaken any wder charitable activths nor had it erwJaged volunteers in any actNtti85. In accordance with the objects of the trust, tt)e tTuslees aim to distribute trust funds for general charitsble PUTposes. The trustees plan to continue maknng distribU.0ns at simiL4r levels lo the recent past subject lo sufficient income arising in Ihe trust to Continue wth that w>li¢y. Publlc beneflt The Irvslees distribute the funds available in the trust for general ctharitable purposes. Details of the charitabl& acliwlies are listed in the accounts. The recipients are themselves either registered charities or charitable causes and the donations made support the work they undertake, which indudes educational aGVIe5 and assisting disadvanlaged mETnber5 Df sOety. The tJustees wel¢>Jme applicatsons for grants from a wde range ol not for profit organi5ations. When planning the activities forthe year the trustees have rjjnsidered the Chariiy Comrllission's guidance an public benefit. Page 2
THE BENSON AMD LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 5 APRIL 2023 Achievemonts and pgrfom)anc8 a. Rgvlgw of a¢vItIeS Income for the year was £201,139 12022: £3,354,754). total 8xpensgs were £753,799 12022.. £717,080) and ther8 was a nel gain on invfjslmenls in the year of £22.555 (2022.. £nil}.. This produced a defidt for the year of £530,10512022.' Surplus of £2.637,674}. During the year grants of £748,193 {2022'. £709,231) were made to institutions. Unrestricted funds al the year end were £2,386,88712022.' £2:916.992). The charity a'.ms lo keep the level of grant awarded Inline with the levels of income received. b. Inv&8tment policy and performance The charity aim5 to generdle a reknm on investment at leasl equal to infiation to maintsln the real value of the funds inv8Stad. On 18 May 2022, th8 trust made an investment of £1.000,000 wth Northgm Trust. This has gTown by £22,555 by 05 April 2023. Flnanclal re¥W . Going concern AfteT making appropriat& enquiras, thè trustees have a re850nabk expectstion that the charity has adequate resource8 to Continue in operational eSten for Ihe foreseeable futur6. For this raason, they continuè to 8dc>pt the going concern basis in preparing the financial statements. The Trust has considerable unrestricted funds carried forward of £2.386,887 12022.. £2,916.9921 and ha5 flexibility wrth regards to the gmnls they give lo organisalions.. b. Reserves policy The trustees ¢onsider that the reserves of the Trust should be suffiaenl to guarantee the long term futuw of the Trust. Free reserves at 5 April 2023 amount to £1.159,42312022'. £2,712,C1831. The charity has a largel free reserves level of £nil as it has no financial ¢ommiknent5 Other than the extent to which it awards grant funding. The trusteès plan to uliliso the Iree reserves over the next 2 years to bring in line with the reserve poly. c. Prlncipal funding The prlncipal fundSng of the tnjst is by dividends reiVed from Risol Imports MIted and donations from Regatta Limited. Page 3
THE BENSON WID LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Structurè, governan and managemgnt Constltutlon The Benson and Lionel Blad( Charitable Trust is an unincorporated registered charity. The charity regislradon number is fj061764. There have been no changes in the objectives since the last annual report. The trustees who served during the yearwere as follows: MrKJBlad Ms J Black Mrs TH Black Mr N Young All decisions arè mad8 by the charitys InJsle8s. b. Methods of appolntment or ole¢tlon of Trustees Th? management of the Charity Is the responsibility of the TTUStees who are elected and co-opted undar the terms of the Tw* deed. Plans for fuluro perlods The trust plans lo continue lo make grants to charitable institutions for the foreseeable future. Statement of Trustees. re$ponsibilltl•$ The TNstee5 are responsible for preparing ihe Trustees, repui the financial stalem8nts In accordance with applicable law and Unitgd Kingdom Accountsng Standards {United Kingdi)m Generdlty Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Trustees to prepare financi81 stslemenls for each financial which give a true and fair wew of Ihe state of affairs of the Charity and of its incoming resources and application of resources. including its Income and expenditure. for that pèri[. In preparing hos8 financial statements, the Trustees are required to.. select suitable accounting pdictes and then apply them consistently. observe the methods and principles of the Charities SORP {FRS 1021- makè judgments and accountin9 eslimates tha: are reasonab and pmdenl., stale whether applicable UK Accounting Slandards IFRS 1021 have been folbwed. subject lo any material departures disdosed and explained in the financial statements., prepare the financial slalemenls on the going concem basis unless il is inappropri8te to pr&sum& that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting recoFd5 that are sufficignl lo show and explain the Charitys transactions and disclose with reasonable accuracy al any time the finanGial posillon ol the Charity and enable them to ènsure "that the finanoal statem8nis comply th the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the as5els of the Charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregu18rities. Pag¢ 4
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED S APRIL 2023 Approved by order of th& embers of-the board of Truslee and signed on their behalf by.. Mr K J Black Dale.. IT January 2024 Page 5
THE BENSON AND LIONEL BLACK CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023 Independent Examlnerfs Report to the Trustsos of Thg Benson and Llonel Black Charltable Trust I'the Charity'l I report to the charty Twstees on my examination of the acccyjnls of Ihe Charity for the year ended S April 2023, Responslbllltles and Basis of Report As th8 Trus188s of thè Charity you are re8FM)nsible for Ihe pparation of the acccyjnls in accordance with the requlremonls of tha Charbties Act 2011 lthe 2011 Acfl. I report in respect of my examlnatlon of the Charivs acctyjnts carried under sedon 145 of tho 2011 Act and n Carrying out my examination I have followed the applicable Directions given by the Charty Commission undw section 14515llbl of the 2011 Act. Independent Examln*r's Statamgnt Your attention Is drawn to the fact that the Charity has prepared the accounts in accordance with AUntIng and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republi¢ ol Ireland IFRS 1Q21 in preference to the A¢counting and Reporling by Charities.. Slalement of R8commgnd8d Practicè issued on 1 April 2005 whid) Is referred to in the extant regulations but has been withdrawn. l understand that this has bgan done in order for the aOnts to provide a true and fair view in accordance with the Generalty Acceple(l AGcountSng Practice effecbve for reporting periods beginnlng on or aftor 1 January 2015. I have completed my examination. I confinn Ihat no matters have come to my ali8ntion in (£Jnneclion the examination giving me cause to believe that in any material respecL' accounting rgcords were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those rgcord5; C Iho accounts do not Comply wtth the 8pplicAble iequirements concerning the forni and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulatlons 2008 other than any requlroment that the accounts give a 'true and faif fjW which is not a matter consldered as part of an independent examination. I have no concems and have come across no other mattars in connection Nwth the examination to which attention should be drawn in this rewrt in orderto enable a proper understsnding of the accounts to be reached. Page 6
THE BENSON AND LIONEL BLACK CHARABLE TRUST IMDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2023 Thls repDrt is made Sole to the Chaiivs Trustees, as a b(HJy. In accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has LEen undertaken so that I might state to the Charivs Trustees those matters l am required to stsle to them in an Independent examinerfs report and for no other purpose, To the fullest extent permitted by law. I do not accept or assume respon5ibilily to anyone other than th@ Charity and the Charitys Trustees as a body. for my work or for this report. Slgn8d.' Dated: 6th Febrnary 2024 Vicky Szullst ACA Crowe U.K. LLP Chartgred Accountants 3rd Floor The Lexicon Mount Strgel Manchester M2 5NT Page 7
THE BENSON AND LIONEL BLACK CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENOED 5 APRIL 2023 Unr•strlct8d funds 2023 Total funds 2023 To181 funds 2022 Income from: Donations Inveslmgnl Income Other income 3.004.442 339.213 11,099 193,246 7,893 193,240 7.893 Total In¢omo 201,139 201,139 3,354,754 Expendlture on: Charitable activities 753.799 753,799 71T,080 Total expondlturo 753,799 753,799 717.080 Net lexpendlture)Ilncome before net gains on inve5tsnents 1552.660) 22.555 1552.660) 22.555 2,637,674 Net gains on inv8Stm8nts Net movement in funds (530,1051 {530,1051 2,637,674 Reconciliation of funds: Total lunds brought fotward Net movement in funds 2.916,992 {$30,105} 2,916,992 {530,1051 279.318 2,637,674 Total funds carried forward 2.386.887 2,386,887 2,918,992 The Statement of Flnanaal Activities indudes all galns and losses recognised in th8 y8ar. The notes on pages 11 to 21 form part of these financial slal8ments. Page 8
THE BENSON AND LIONEL BLACK CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2023 2023 2022 Note Fixed assets Snvestments 10 1,227,464 204,909 1,227,464 204,909 Currènt assets Debtors Cash al bank and in hand 1,007,893 161,570 2, 719,025 1,169,463 2,719,025 Creditors.. amounts falling due within Dne yaar 12 110,0401 (6,942) Net current assets 1.1 S9,423 2, 712,083 Total assèts less current liabilitie5 2,386,887 2,916,992 Net assets excluding pension assat 2,386,887 2,916,992 Total net a55etS 2,386,887 2,916,992 Charity funds Reslricted ftjnds Unreslricled funds 2,386,887 2,916,992 Total funds 2,386,887 2,976,992 The fina signed on cial slalemenls heir behalf by. ere approved and aulhorised lor issue by th8 Trustges on 17 JanLJary 2024 and Mr K J Black The noles on pages 1110 21 form part ol these financial slalements. Page 9
THE BENSON AND LIONEL BLACK CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2023 2023 2022 Cash flows from operatlng actlvllles Nel cash provided by operating acte$ 1750,7011 2,630,979 Cash flow5 from investing aetivities Dividends, interests and rents frorn investments Proceeds from sale of investments Purchase of investrnents 201.139 14,599 (1.000,0001 Net cash lUd InVpr¢)vlded by Invgstlng a¢tfvitks 1798,861) 14.599 Cash flows from flnanclng actlvltles Loan lo related party {1.007,893 Net cash (used In}Iprovlded by flnanclng a¢tivltios 11,007.893) Change In cash and cash equlvalents In the year Cash and cash equivalents al the beginning of the year 12.557,4551 2,645,578 2,719,025 73,447 Cash and cash equlvalents at the •nd of the year 161.570 2,719,025 The notes on pages 11 10 21 form part of these financial st2tements Pagè 10
ThE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINMCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 General Informatlon The charity was created on 18 February 1997 and was raistered as a charity with the Charity Commission on the 10 April 1997 {cb.ariiy number 10617641. Accounting policlos 2.1 Basis of preparation of Ilnan¢lal statsments The finanual statements have been pr8par8d in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities- StsleTnenl ol Recomrnended Practice appli¢abl8 lo charities preparing their accounts in accordanc4 wilh the Financial Reporting Standard applicable In Ihg UK and Rapublic of Ireland {FRS 102) leffeclNe 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charrties Act 2011. The Benson and Lionel Black Charttable Tnjst meets Ihe dgfinillon of a public bonefil enllty under FRS 102. Assets and liabilits.es are initialty recognised al historfcal cost ortransaction value unless olhemse staled in Ihe relevant auting policy. 22 Going ooncern After making appropriate enquiries, and in IwJhl of the Charili8s strong bal8n¢& sheet, th? Iruslees have a reasonable 8xpèctstion that the charity has 8dequale resources lo continue in operational existence lor the foreseeabfe future. For this sOn they continue to adopt the going concern basis in preparing the finanrAal Statemts. 2.3 Incomlng Rgsources I Incorne Is recogni5ed On the Chartty has entrtlemenl to tha incomo, il is probablo that tho income will be receNed and the 8mUnt of income receivable can be m8asuTed reliably. Income tax recoverable in relation to investment income is recognised al the time the inveskn8nt income is receivable. Other income is recognised in the Peri in whith ti is receivable and lo the extent the goods have been provided or on completion of the servi. Page11
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SAPRIL 2023 A¢counUng pollcles Icontlnued) 2.4 Resourcès Expend•d Expendilure is recognised On there is a legal or nStruthe obligation to transfer economic b&n8fit lo a third p8rty, It is probablè that 8 transfèr of economic bènèfits 11 b8 raquired in settlernenl and the arnount of the obligation can be measured reliabty. Expenditure is classrfied by activity. The Costs ol each activity are made up of the lotal of diTect costs and shared costs, including suppor. costs Invoed in undertaking each a¢tivty. Direct $ts attributable lo a single activity are allocated dirèdly lo that acllvity. Shared costs whlch contribute lo more than one activity anLI support costs which ar8 not attributable lo a single actNity are apportiorLed between those activities orh a basis consislenl wlth Ihe use of resources. Central staff costs are allocated on the basis of time spgnt, and depr8cialion charges allocated on th8 potlion of the asset's use. Exp8ndilure on charilabl8 actniities is incurred on dir8cty undertaknng the activities which further the Charitys objeGtivg3, as well as any assouated support costs. Grants payable are drged in the year when the offer is made except those cases whem the offer is conditional. such grants being rewnised as expèndrture when the conditions attaching ar& fulfilled. Grants offered subject to conditions whiGh have not b8en met at the year end are noted as a commitment, but not accxued as expenditure. l exp8ndtture Is incluslve of Irrecoverable VAT. 2.5 Intorgst recolvable Inleiesl on funds held on depostt is included when receivable and the awnount can be measured reliably by the Charity., this is normally upon nottfication of the interest paid or payable by the Bank 2.6 Inve8tmonts Fixed asset inveslmenls are a fomi of fin081 instrument and are initially recognised at their transaction coyt and subsequendy measured 8t fair value at the Balance sh@6t datè, unlèss the value cannot be measured reliably in vthich case il is measured at cc)st less impaimenl. Inveslmanl gains and losses, whether realised or unrealised. are combined and pmsented as 'Gains/lLosse81 on nvestmenls, in the Slatement of financial acbvib'8S. Investments h8ld as fixod assèts ar8 shown at cost less prowsion for Impairment. 2,7 Debtors Trade and other debtors are recognised al Ihe settkmenl amount after any trade discount offered. Prepayments are valued at the amount prepaid rbel.of any trade diSunIS due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short temi highly liquMI investments with a short maturity of three months or less from the date of a¢quisition or Dp&ning ol thg deposit or slmllar account. Page 12
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accountlng poliGSe$ {contlnued) 2.9 Llabllltles and provlsions Liabilitigs are regniSed when there is an oblig8tw)n at the 881an¢e sheet dale as a result Df a past event, it is probablè that a transfer ol ewnomic benefit will be required in settlemenL and the amount of Ihe selllement can be estimated reliabty- Liabilities are rgmgnised at the amount Ih81 the Charity anticip8les il will pay lo settle the dèbl or th8 amount il has recelved as advance(i payTnents for the goods or $8rvicgS it must provide. Provisions are measured at the best estimate of the amoun15 required ID S8tUe the obligation. Where the effect of the time value of rnoney is material, the provision is based Dn the prgsenl value of those amounts, discounted at the pre-tax discwnt rat8 that rgflgcls the risks speafic lo the liability. The unwinding of the discount is re¢ognised in the Ststement of financial activities as a finance cost. 2.10 Flnanclal Instrumont5 The Charity only has finanual assets and financial liabilTh"e5 of a kind that qualify as basic financial instrumonts. Basic fingnoal instruments are inib'ally recognised at transaction value and subsequently measured at their settlement valu8 With thg gx¢8plion of bank loans which are 8ubsequenlly m8asur8d at amortiS8d cost using the effectbve interest rnethod. 2.11 Crltlcal accounting estimates anil areas of Judgement Esb'mates and judgments are continually evaluate(l and are based on historical experience and other factors, including expectations of fulLbre events that are b81ieved lo bg reasonable under the circumstances. CriUcal accounting estimates and assumplions.. The charily has not made any estimates and assumptions tt)neeming the future. 2.12 Fund accounting General furKIs are unrestricted fund9 which are availab for use al the diSellOn of the Trustees in furtherance of the general objecttves of the Charity and whic* have not been dèsignated for other purposes. Investment income. gains and losses are allocated to the appropriate fund. PBge13
THE BENSON AND LIONEL 8LACK CHARrrA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Income from donatlon$ Unrestrithd funds 2023 Total funds 2Q23 Donations Unrestricted fvnds 2022 Total funds 2022 DonalK)ns 3.004,442 3,004,442 Invesbnent Income Unrestrlctod fund6 2023 Totsl fund$ 2023 Inveslmenl income 193.246 193,246 Unrestrlcled fijnds 2022 Total funds 2022 Investmer71 income 339,213 339,213 Pag914
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 othèr Income Unre$trlct8d funds 2023 Total funds 2023 Other income 7,893 7,893 Unrestricted funds 2022 Total funds 2022 Other incom& 11,099 11,099 Analysis of grants Grants to Institutlons 2023 Total funds 2023 Grants payabl& to institutions 748,193 748,193 Granls lo Inslrtulions 2022 Total fvnds 2022 Grants payable to Instilutions 709,231 709,231 The Charity has made the followng material grants to institutions during the year.. Page15
THE BENSON LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Analysls of grants {contlnuedl 2023 2022 Name of In$titutlon J8wsh Leadershlp Council Follicular LJThphoma Fourn1ation The Fed DrDr Eshbal United Jewish Israel appeal CST J8wish Care Norwtrjd Peres cent for Po8¢8 World Jewish Relief UK FrndS of Yad Yisroel Oth8r Grants less than £20.000 100,000 S0.IXIO 45.000 41.178 41,000 35,000 30,000 25,500 23.084 15.000 100,000 35,000 loo,000 35,000 25.000 25,000 21.750 71,000 25,000 271.481 342,431 748,193 TOg,231 Analy$ls of vxpendlture by activities Actlvltlas ndertaken diredly 2023 Grant fundlng of actlvhles 2023 Support costs 2023 Total funds 2023 Professir)nal fees 748,193 5.240 753,799 A¢tiwtie$ undertaken dimcély 2022 Grant fvnding 01 8GtAVAties 2022 Support costs 2022 Total rund$ 2022 Professional fees 118 709.231 7.737 717,080 Page 16
ThE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Audltofs remuneration Fees payabl6 lo the Charitys independent examiner for the independènt examination of the Charivs annual a¢(u15 were £1,400. In th8 prior year the Auditorfs remuneralion amounts lo an audit fee of £4,200. Trustees. remuneratlon and axpenses During tho ygar, no Trustees received any remuneration or other beJn8fits (2022- £NIL). During the year gnded 5 Ap1 2023, no Trustee expenses have been In(xJrrod (2022- £NIL). 10. Fixed asset Inv6stm•nts Other ffxed asset Inv¥stmtrnts Cost orvaluation Al 6 April 2022 Additions 204,909 1,022,555 At 5 April 2023 1.227.464 Ngt book value At 5 April 2023 1227.464 At 5 Aprftl 2022 204,909 Page 17
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Unquoted securltles and other investments 2023 2022 Risol Imports Limited £1 Ord Shares {numbor of shares- 2781 Aurum Investments 204,909 1,022,555 204,909 1.227,464 204,909 The Risol Imports investment is ststed at (x)st as fair value cannot be measured reliably. The nel assets of Rlsol Imports Ltd at 31 January 2023 are £101.572,000 {2022.. £100,018,000) The Benson and Llonol Black Charttable Trust owns 5.14% of the shares of the company. The AuTum Investment Is slated at mark8t valu& as the fair value can be reliably measured. The cost on acqLJisilion dale 118 May 20231 was £1,OOD,000. At financial year end, this grew lo £1,022,555. 11. D¥btors 2023 2022 Due within one year other debtors 1.007,893 1.007.893 12. Cr•dltors'. Amounts falling due within one year 2023 2022 Accruals alld deferred income 10,040 6,942 Page 18
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 13. Flnanclal Instruments 2023 2022 Flnan¢lal assets Fin8n¢ial assets measured at amortised cost 2,396.927 2,923,935 2023 2022 Flnanclal Ilabllltles Financial liabilittes measure at fabr value at amorbsed cost 10.040 6.942 Financial assets measured at amortised cost MpriSe $h al bank, debtors and investments al wst. Finanaal liabilities measurod at 8mortisa(I cost comprise accruals. 14. Surnmary of fvnds Summary of funds - current year Balance at 6 Aprfl 2022 Balance at S April 2023 Income Expenditure General funds 2,916.992 223,694 (753.799} 2.386,887 Summary of lund$ - prlor year Balan al 6 Apnl 2021 Bslance al Income Expenditure 5 Apnl 2022 General funds 219,318 3.354, 754 (717,080) 2.916,992 Page 19
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 PSIRIL 2023 15. Analysls of net assets between funds Analysls of net ass8ts t*•en lunds . ¢urrnnt year Unrestricted funds 2023 Total funds 2023 Fixed asset inveslmenls Current 8ssel8 Creditors due within one year 1,227,464 1.169,463 110,0401 1.227,464 1.169,463 110,0401 Total 2,386,887 2,386,887 Analysis of net assets batwggn fvnds- prior year UnTrstricted funds 2022 Total funds 2022 Fixed asset inv8Stmenls Current assets Credllor5 due within one year 204,909 2, 719,025 (6.942) 204,909 2,719,025 {6,942) Total 2,916,992 2,916,992 16. Reconclllatlon of net movement In fvnds to nèt cash flow from operatlng actlvltlgs 2023 2022 Nel incomelexpenditure for the year {as per Ststsment of Financial Activities) 1530,105) 2,637,674 Adjustments for. Gain on inveslmgnls Dividends frown investrnents Interest income Increase in creditors 122,$551 1193.2441 17,8941 3,098 (10,466J 3, 771 Net cash provldod byllused In) operating activities {750,700} 2,630,979 Page 20
THE BENSON AND LIONEL BLACK CHARITA8LE TRUST NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED S APRIL 2023 17. Analysls of cash and cash èqulvalgnts 2023 2022 Cash in hand 161,570 2.719,025 Total ¢a$h and cash equivalents 161,570 2, 719.025 18. Analysis of changes In net debt At 6 April 2022 Cash flows At 5 Aprfl 2023 Cash al bank and in hand 2,719.025 12.557.455) 161,57Q 2,719.025 12,557,455) 161,570 19. Related party transaction5 During the year, a loan was granted lo Regatta Limited for £1.007.893. a related party lo the Trust. During the year a grant of £100,000 {2022.' £100,000) was made to th6 Jebwsh Leadership Council, a Charity for whom K Black is a trustee. Page 21