Charlty number: 1061764 THE BENSON AND LIONEL BLACK CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 5 APRIL 2024
THE BENSON AND LIONEL BLACK CHARITABLE TRUST CONTENTS Page Reference and admlnSstratlve detalls of the Charityg Its Trustees and advlsers Trustees. report Independent examiner's report Statement of flnan¢lal actlvlties Balance sheat Statement of cash flows 10 Noies to the flnanclal stat8m8nts
THE BENSON AND LIONEL BLACK CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trust805 Mr K J Black Ms J Black Mrs T H Black Mr N Young Charlty reglstered numbar 1061764 Principal offlce Fiisol House M8rcury Way, Dumplington Urmston Manchester M417RR Accountants Crowe U.K. LLP Ghartered Accountants 3rd floor st G8org8's House 56 Peter Street Manchester M2 3NQ Banker5 HSBC 11 Church Street Warrington Cheshire WA12EY Page 1
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report together wilh the financial sts19ments of the Charity for tha 06 April 2023 to 5 April 2024, Objectives and activitles a. P¢liclas and objectlves Trustees shall pay or apply the income of the trust fund to such chari118s or for such charilabl8 purposes as the trustees determin@. The Trustees meet these aims by making grants to charitable Institutions as set out in not8 5 to the accounts In s8tting objectives and planning for activities, the Trustees have given due conslderalion to general guidance published by the Charity Commission relating to public benefit, including the guldance 'Public banefil.. running a charity (PB2)'. b. Principal Activities, Objects and Review of the Trust The charity was crealad on 18 February 1997 and was registered 8S 8 charity with the Charity Commission on the 10 April 1997. The Irusl had been created and registered as a charity in order that the assets of an earlier Injsl established by Mrs Helty Black on 26 March 1976 cou5d be transferred lo it. All the assels of the earlier trusts were transferred to this trust with effect from 6 April 1998. The truslees have wide discretionary power to donate the income arising in the trust for general charitable purposes. Donations made in Ihe year were in accordance with the objectives of that Irusl. K J Black is delegated by th8 truste&s to d8al with the day-to-day management of the charity, including arranging th8 charitable activities reflecled in these accounts and obtaining appropriate advlce conc8rning investm&nls as required. The manag8ment of the trust is conducted solely by the trustees and Its actlvitles in Ihe year comprlsed the financial management of its investments and the donation of the income arising in the trust, It has not undertaken any wid@r charitable activities nor had it engaged volunteers in any activities. In accordance with the objeds of the trust, the trustees aim to distribute trust funds for general charitable purposes. The truslees plan to continue making distributions at similar levels lo the recent past subject to sufficient income arising in the tNst to continue with that policy. c. Publlc b8neflt The Irustees dislribul& tha funds availabl8 in the trust for general charitable purposes. Details of the charitable activities are listed in the accounts. The recipients are Ihemselves either regSstered charities or charitabl@ causes and the donations made sUPPOrt the work they undertake, which includes educational activitigs and assisting disadvantaged members of society. The trustees welcome applications for granls from a wide range of not for profil organisations. When planning the activities for the year the trustees have considered the Charity Commission's guidanc& on public benefit. Page 2
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Achievements and performance a. Rovlow of actlvltlos Income for the year was £177,550 {2023: £201,139>, total expenses were £967,825 (2023., £753,799) and there was a net galn on investments in the ygar of £28,209 {2023,' £22,555}.. This produc@d a deficit for the year of £764,066 {2023: Deficil of £530,105). During the year grants of £968,778 (2023.. £748,193) were made to institutions. Unrestricted funds at th6 year end were £1,622,82112023.' £2,386,887). The charity aims to keep the level of grant awarded inline with the levels of income received. b. Inv8slment policy and performance The charity aims to generate a return on Investment al laast equal lo inflation to maintain the r8al valu6 of the funds inv8Sted. Flnanclal revlew . Going concern After making appropriate anquires, the trustaes have a reasonable 8xpect8lion that the charity has adequate resources to continu8 in op8rational exislence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. The Trust has considerable unrastricted funds carried fomard of £1,622,821 12023.. £2,386,887) and has flexibility with regards to the grants they give to organisations.. b. Reserves pollcy The trustees consider that Ihe reserves of the Trust should be sufficient to guarantee the long term future of the Trust. Free reserves at 5 April 2024 amount to £1,417,912 (2023: £1,159,423). The charity has a targ8t freg reserves level of £nil as it has no financial commitments other than th& ext8nt to which it 8wards grant funding. The trustees plan to utilise the fr88 r8S8rves over the next 2 years to bring In line with the reserve policy. c. Prlnclpal fundlng The principal funding of the trust is by dividends received from Risol Imports Limited and donations from Regatta Lim ited. Page 3
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Structuro, govomance and management a. Constltutlon The Benson and Lionel Black Charitable Trust is an unincorporated registered charity, The charlty registration number Is 1061784. There have been no changes In the oblecllves since the last annual report. The trustees who served during the yaar w8re as follows.. Mr K J Black Ms J Black Mrs TH Black Mr N Young All decisions are mad8 by the charity's trusteas. b. Methods of appolntment or election of Trustees Th8 management of th8 Charity is the responsibility of the Trustees who are elecled and co-opted under the terms of the Trust deed. Plans for future period5 The trust plans to conlinue to make grants to charitable institutions for the for8see8ble future. Stat8m8nt of Trustees. responsibilities The Trustaas are r8sponsible for preparing the Truste85' r&port and the financial statements In accordance with applicab16 law and United Kingdom Accounting Standards (United Kingdom Generally Acceptad Accounting Practice). Th8 law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair vlew of the state of affairs of the Charity and of its incoming resources and applicalion of resourc8s, including its income and expenditure. for that period. In preparing these financial slatemenls, the Tnjstees are required to: salact suitable accountlng pollcies and Ihan apply them consistently., observe the methods and principles of the Charities SORP (FRS 1021. make judgm8nts and accounling estimates that are rgasonable and prudent., state whether applicab5e UK Accounting Standards IFRS 102) have been followed, subject to any mat8rial departures dlsclosed and explained in tha financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in businass. The Trustees are responsible for keeping adequate accounting records Ihat are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any tim8 the financial position of the Charity and enable them to ensure that the financial statements comply with the Charlties Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and delection of fraud and olher irregularilies. P8ge 4
THE BENSON AND LIONEL BLACK CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Ap ro d by order of the me ers e board of Trustee nd signed on their behalf by: Black Date.. 4 February 2025 Page 5
THE BENSON AND LIONEL BLACK CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent Examlnerfs Report to the Trustees of The Bonson and Llonel Black Charitable Trust {'the Charity.) I report to the charity Trustees on my examlnation of the accounts of the Charity for the year ended 5 April 2024. Responsibilities and Basis of Report As the Trustees of thé Charity you ar8 responsible for the preparation of th8 accounts in accordance with the requlremén18 of Iha Charilies Act 2011 {'the 2011 Act,). I report in respect of my examination of the Charity's accounts cart18d out under section 145 of the 2011 Act and in carrying out my examination I have followed th8 applicabl8 Directions given by the CharSty Commission under section 145(5)(bl of the 2011 Act. Independent Examiner's Statomont Your attention is drawn to Ihe fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 1021 in pr8f8rence to the Accounting and Reporting by Charities: Statement of Recommended Practica issu9d on 1 April 2005 which is referred to In the extant regulatlons but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and falr vlew in accordance with the Generally Accepted Accounting Practlce effective for reporting periods beginning on or after 1 January 2015. I have completed my examinalion. I confirm that no matters have come to my attention in connection wilh th examination giving me cause to believe that in any material respect,, accounting records w8r8 not kept In respect of the Charity as required by section 130 of the 2011 Act. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concsrning the form and content of accounts Set out in the Charities (Accounts and Reports} RegulatSons 2008 other than any requirement that the accounts glve a 'true and faiff view which is not a matter consldered as part of an independent examination. I have no Goncerns and have come across no oth8r matters In connection with tha examination to which attention should bg drawn In this report In order to enable a propar understanding of the accounts to be reached, Page 6
THE BENSON AND LIONEL BLACK CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 This report is made $0181y to th8 Charitvs Trustees, as a body, In accordance with Part 4 of the Charltles (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitrfs Trustees those matters l am required to slate to them in an Independent examin8r's report and for no other purpose. To the fullest extent permitled by law, I do not acc8pt or assume responsibility to anyone other than the Charity 8nd tha Charitls Trustees as a body, for my work or for this report, Signed.. Datsd., 5th February 2025 Vicky Szulist ACA Crowe U.K. LLP Chartered Accountants 3rd Floor The Lexicon 56 Pater Street Manchester M2 3NQ Page 7
THE BENSON AND LIONEL BLACK CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unr8Stricted funds 2024 Total funds 2024 Total funcls 2023 Noto Income from: Investment income Oth8r incom8 123,349 54.201 123,349 54,201 193,246 7,893 Total income 177,550 177,550 201,139 Expendlture on: Charitable activities 967,825 967,825 753, 799 Total expenditure 967,825 967.825 753, 799 Net expendlture before net galns on Investments Net galns on Investments (790,275) 26,209 (790,2751 26,209 (552,660) 22,555 Net movement In funds (764,066) {764,066) (530, 105) Reconciliation of funds.. Total funds brought forwar Net movement Sn funds 2,386,887 {764.0661 2,386,887 (764,066) 2,976,992 (530,105) Total funds Carried forward 1,622,821 1,622,821 2,386,887 The Statement of Financial Aclivities includes all gains and Ios5e5 recognised in the year. The notes on pages 11 to 21 form part of these financial statements. Page 8
THE BENSON AND LIONEL BLACK CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note Fixed assets Investments 204,909 1,227,464 204,909 1,227,464 Current assels Debtors Cash at bank and in hand 10 1,007,893 161,570 1,419,912 1.419,912 1, 169.463 Creditors.. amounts falling due within one year {2.000) (10.040) Net current assets 1,417,912 1,159,423 Total assets less current liabilities 1,622,821 2, 386,887 Net assets excluding pension asset 1,622,821 2.386.887 Total net assets 1,622,821 2, 386,887 Charity funds Restricted funds Unrestricted funds 1.622.821 2,386,887 Total funds 1.622,821 2,386,887 Th nancial statements were sidned on their behalf by- authorise for issue by the Trustees on 04 February 2025 and Mr K J Black The notes on pages 11 to 21 form part of these financial statements. Page 9
THE BENSON AND LIONEL BLACK CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Cash flows from operatlng a¢tiviti•s Net cash provided by operating activities {975,865) (750,701) Cash flows from investing actlvltlos Dividends, interests and renls from investments Proce8ds from sale of investments 177,550 1,048,764 201, 139 Purchase of inveslments (1,000,000) Net cash providad byl{us8d in) investing activities 1,226,314 (798,861 Cash flows from financing activities Loan to related party Repayments of Loan (1,007,893) 1,007,893 Net cash provided byllused In) flnan¢lng actlvltles 1,007,893 (1,007,893) Change In cash and cash 8quivalonts in the year Cash and cash equivalents at the beginning of the year 1,258,342 (2,557,455) 2,779,025 161,570 Cash and cash equivalents at the end of the year 1,419,912 161,570 The notes on pages 11 to 21 form part of Ihese financial statements Page10
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 General Informatlon The charily was created on 18 February 1997 and was registered as a charity wlth the Charity Commission on the 10 April 1997 (charity number 10617641. Accounting policles 2,1 Basis of preparation of financial statements The financial statements have been prepared in accordanc8 with the Charities SORP {FRS 1021 Accounting and Reporting by Charities.. Stat8ment of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in th& UK and, Republic of Ireland IFRS 102) {effecllve 1 January 2019), tha Financial R8POrting Standard applicable in the UK and R8public of Ireland {FRS 102) and the Chariti8s Act 2011. The Benson and Llonel Black Charitable Trust meets the definition of a public benefit gntity under FRS 102. Assets and Ilabilitles are initially recognisgd at historical cost or transaclion value unless otheNis8 Stated in th8 relevant accounting policy. 2.2 Going concern After rnaking appropriate enquiries, and in light of the Charilies strong balance sheet, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future, For this reason they continue to adopt the going concern basis in preparing the financial slat8m8nts. 2.3 Incoming Resources All income is recognised once th8 Charity has enli118m8nt to the income, it is probable that the income will be received and the amounl of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised al the time the investment income is receivable. Olher incomg is recognisod in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. P8ge11
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounling pollcles (contlnued) 2.4 Resources Expended Expenditure is recognised once there is a legal or construclive obligation to transfer economic benefit to a third party, it is probable thal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activlty. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Dir@ct cost8 attributable to a single activity are allocated directly to that activlty. Shared cosls which contribute to more than one actlvity and support costs which are not attribLJtab18 to a single activity are apportloned between those actlvltles on a basis consistent with the use of resources. Central staff costs are allocated on tha ba818 of tima sp8nt, and depreclatlon charges allocated on the portion of th8 asset's use. Expenditure on charitable aclivilles is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Granls payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure whan the conditions attaching are fulfilled. Grants offered subjact to conditions which have not been met al the year end are noted as a commilm8nt, bul not accrued as exp8nditur8. All expenditure is inclusive of Irrecoverable VAT. 2.5 Intergst receivable Inleresl on funds held on deposit is included when receivable and the amc)unl can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the Bank 2.6 Investments Fix&d assel investm8nl8 are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sh8et date, unSess th6 Value cannol be measured reliably in which case it is measurad at cost18ss impairmant. Investment gains and losses, whelher realisad or unrealised, are combined and presented as 'Gainsl(Losses) on invastments, in Ihe Statement of financial activities. Investments held as fixed assets are shown at cost less provision for impalrment. 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any Irade dlscounts due, 2.8 Cash at bank and in hand Cash al bank and in hand includes cash and short term highly liquid Investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account, Page 12
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollcles Icontlnued) 2.9 Liabilitles and provlslons Liabilities are recognised when there is an obligatlon al the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit wlll be required In settlement, and the amount of th8 settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to seltle the debt or the arnount It has received as advanced pawnents for tha goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the tlme value of money Is material, the provision is based on the present value of those amounts, discounted at Ihe pre-tax discount rate that reflects the risks specific lo the liabilily. Th8 unwinding of the discount is recognised in the Slat6m@nl of fin8ncial activities as a finance cost. 2.10 Financial instruments The Charfty only has financial assets and financial liabililies of a kind that qualify as basic financial instruments. Baslc financial instruments are initially recognised at transaction value and subsequently m8a8ured at their settlement value with the exception of bank loans which are subsequenlly measured at amortiS8d cost using th8 8ff&ctiva inl8rest m8thod. 2,11 Critical accountlng estlmates and areas of Judgement Eslirnates and judgments are continually evaluated and ar8 based on historical experi8nce and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions.. Th8 charity has not made any estimates and assumptions concerning tha future. 2.12 Fund a¢countlng General funds are unrestricted funds which are available for use at the discretion of the Trustegs in furtherance of the general objectives of lh8 Charity ané which have not been dasignaled for other purpos8S, Investment Income, gains and losses are allocated to the appropriate fund. Page 13
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Invastment Income Unrestricted funds 2024 Total funds 2024 Investment income 123,349 123,349 Unr$strict&d funds 2023 Total funds 2023 Inveslment income 193,246 193,246 other Income Unrestricted funds 2024 Total funds 2024 Interest received on Loan Other income 3Q,528 23,673 30,528 23,673 54,201 54,201 Unreslrioted funds 2023 Total funds 2023 Interest received on Loan 7,893 7,893 Page 14
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analy$ls of grants Grants to Institutions 2024 Total funds 2024 Grants payable to Institutions 968,778 968,778 Grants to Institutrons 2023 Tot81 funds 2023 Grants payable to institutions 748, 193 748,193 Th& Charity has made the following material grants to institutions during the year.. 2024 2023 Name of Institution Arts Community & Religious Educ81ion & Youth Heallh & Welfare Outdoors & Humanitarian Public Education Rg Isr6al and the Mlddle East 12.000 272,375 127,673 299,700 27,250 229,780 75,200 137,731 196,087 264.675 44,000 90,500 968,778 748, 193 P8ge 15
THE BENSON AND LIONEL BLACK CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
5. Analysis of grants (continued)
We have chosen not to disclose the details of the recipients of grants made to institutions on the grounds that these details could seriously prejudice the furtherance of the purposes either of the recipient institution or of the charity itself. Below is the general purpose of these grants.
Education and Youth
The Trust supports organisations that advance Jewish education, connection and culture, provide students with access to practical, welfare, spiritual, and educational support. Eighteen grants were provided for this purpose.
Health and Welfare
The Trust supports organisations that provide support and care to Jewish people of all ages through services such as residential care, nursing care, supported living and mental health. Eighteen grants were provided for this purpose.
Community and Religious
The Trust supports organisations that are dedicated to promoting a flourishing UK Jewish community, work to ensure that the British community values and respects the UK Jewish community and promote religious harmony. Thirty grants were provided for this purpose.
Public education regarding Israel and the Middle East
The trust supports organisations with objectives to invest in young people and education in Israel and the UK Jewish Community, and the connection between the two communities, to ensure that the next generation is informed and motivated to learn about their Jewish identity and Israel. Seventeen grants were provided for this purpose.
Outdoors and Humanitarian
The Trust supports organisations across the globe that work to share expertise and respond to emergencies along with Israel's national medical emergency, disaster, ambulance and blood service. Five grants were provided for this purpose
Arts
The Trust supports organisations that aim to promote Jewish knowledge, Israel engagement and mental well-being through our work with Israeli culture. Three grants were provided for this purpose.
| 6. | Analysis of expenditure by activities | Activities undertaken |
Grant funding of |
Support | Total |
|---|---|---|---|---|---|
| directly | activities | costs | funds | ||
| 2024 | 2024 | 2024 | 2024 | ||
| £ | £ | £ | £ | ||
| Professional fees | 367 | 968,778 | (1,320) | 967,825 |
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THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysi8 of exp&ndituro by activiti&s (continued) Activities undertaken directly 2023 Grant funding ol activities 2023 Support costs 2023 Total funds 2023 Professional fees 366 748, 193 5,240 753, 799 Audltor's remuneralion F88s payable to the Charity's independent examiner for the independent examination of Ihe Charitys annual accounts were £1,470 {2023: £1,400). Trust8es' remuneration and expenses During tre ygar, no Truste8s r8ceiv8d any remuneration or other b8nefits (2023 - £NIL)- During the year ended 5 April 2024, no Trustee expenses have been incurred (2023 - £NIL). Fixed a8S8t investments Other flxed asset invostmenls Cost or valuallon At 6 April 2023 204,909 At 5 April 2024 204,909 Net book valu At 5 April 2Q24 204,909 At 5 April 2023 204,909 Page17
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Unquotod sacurltlos and othor Invostmènts 2023 2022 Risol Imports Limited £1 Ord Shares (number of shares- 2781 204,909 204, 909 204,909 204,909 The Risol Imports investment is stated at cost as fair value cannot be measured reliably, The net assets of Risol Imports Ltd al 31 January 2024 are £1 D4,073,000 (2023: £101,572,000), The B8nson and Lionel Black Charitable Trust owns 5.140k of the shares ofthe company. 10. D8blors 2024 2023 Due wlthin on8 yoar other debtors I,OQ7,893 1,007,893 11. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 2.000 10,040 Page 18
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 12. Financial instruments 2024 2Q23 Flnanclal assets Financial assets measured at amortised cost 1,419,912 2,39S,927 2024 2023 Flnanclal Ilabllltles Financial liabilities measure at fair value at amortlsed cost 2,000 70,040 Flnancial assets measured al amortised cost comprlse cash at bank, debtors and Investments at cost. Financial liabilities measured at amortised cost comprise accruals. 13. Summary of funds Summary of funds - current year Balanca at 6 April 2022 Gainsl Balance at 5 (Lossos) April 2024 Income Expènditure G8neral funds 2,386,887 177,550 (967,825) 26,209 1.622,821 Summary of funds - prlor year Balance 81 6 April 2022 881ance al Income Expenditure 5 April 2023 General funds 2,916,992 223, 694 (753, 799) 2,386,887 Pag8 19
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 14. Analysls of net assets between funds Analysis of net assels between funds . current period Unrestrlcted funds 2024 Total funds 2024 Fixed asset invastments Current assets Creditors due within one year 204,909 1,41g.g12 {2,000) 204,909 1,419,912 (2.000) Total 1,622,821 1,622,821 Analysls of net assgts between funds - prior perlod Unrestricted funds 2023 Total funds 2023 Fixed asset investments Current assets Creditors due within one year 1,227,464 1.169,463 (10.040) 1,22T,464 1,169,465 (10,040) Total 2,386,887 2,386,887 15. Reconclllatlon of net movement In funds to net cash flow from operating activitios 2024 2023 Net 6xpenditur8 for the period (as per Statement of Financlal Activities) 1764,066) (530,105) Adjustments for.. Gain on investments Dividends from investments Interest income Incr@aselldecrease) in credltors (26,2091 (22,555) (123,349) (193,244) {54,201) (7,894) (8,040) 3,098 Net cash used in operating activities (975,865) (750, 70QJ Page 20
THE BENSON AND LIONEL BLACK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 16. Analysis of cash and cash equlvalonts 2024 2023 Cash in hand 1,419,912 167,570 Total cash and cash equivalents 1,419.912 161,570 17. Analysls of changes in net debt At 6April 2023 Cash flows At 5 Aprll 2024 Cash al bank and in hand 161,570 1,258,342 1,419,912 161,570 1,258,342 1,419,912 Related party transactions During tha prior year, a loan was granted to Reg8lta Limited for £1,007,893, a related party to the Trust. This was fully repaid in the year, During the year a grant of £125.000 (2023.. £100,000) was made to the Jewish Laad6rship Council, a charity for whom K Black is a trusl88, Page 21