Docusign Envelope ID: 59A05087-C873-4A99-A5F2-BD163A23CD84
**Charity Registration Number: 1163134**
## **The Blackwood Engineering Trust**
**REPORT OF THE TRUSTEES & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[th] April 2025**
**MHA** Chartered Accountants MHA House, Charter Court Swansea Enterprise Park Swansea SA7 9FS
Docusign Envelope ID: 59A05087-C873-4A99-A5F2-BD163A23CD84
## **The Blackwood Engineering Trust**
## **Contents**
||**Page**|
|---|---|
|Trustees Report|1 - 3|
|Independent Examiner’s Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to Financial Statements|8 - 13|
Docusign Envelope ID: 59A05087-C873-4A99-A5F2-BD163A23CD84
## **The Blackwood Engineering Trust TRUSTEES REPORT FOR THE YEAR ENDED 30[th] April 2025**
The trustees present their report together with the financial statements of the charity for the year ending 30[th] April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019).
## **Objectives & Activities**
The Blackwood Engineering Trust objective is broadly advancing the education of and generally benefiting children and young people in need by reason of poverty, bereavement, sickness or disability in the UK, Belgium, China and India.
The Trust is totally financed by contributions from Blackwood Engineering Ltd with the approval of the Directors and principal shareholder, the company makes monthly contributions and as such will have limited resources and we will therefore aim to prioritise our donations as follows:
- Charitable organisations in locations where Blackwood Engineering operate in the UK, Belgium, China, India and around the world.
- Projects that benefit children which have little funding from statutory bodies.
- Projects for children largely run by voluntary organisations
- Projects helping sick, disabled and orphaned children.
In both China and India we focus our donations on a small number of charitable organisations that meet our criteria, ensuring that we have maximum impact on the children we are helping. It is our intention to continue to develop a long-term relationship with these organisations through regular donations.
## **Achievements and performance**
During the year to 30 April 2025, the trust provided grants to individuals and organisations totalling £77,748 (2024: £95,878) in furtherance of its objectives.
## **Financial Review**
The trust received £73,500 (2024: £74,000) in donations in the period and paid out grants totalling £77,748 (2024: £95,878). The trust has restricted reserves of £26,400 (2024: £32,361) which will be used in future periods in furtherance of its objectives.
## **Risks**
The charity trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.
We understand that there is a dependency on Blackwood Engineering Limited as an income source.
Blackwood Engineering Limited is a successful business, and the Blackwood Engineering Trust has now become part of Blackwood Engineering monthly budgeted overheads. There is close monitoring and review of Blackwood Engineering Ltd financial statements and cash flow projections. We do not foresee at this time that funding from Blackwood Engineering Ltd will be an issue, and if in the future the funding did need to be reduced, we would know
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in advance and be able to react proactively. Grants are only awarded if money is available and if we were to work with on-going partners then grants are reviewed on a yearly basis for expenditure if not committed to in advance.
## **Reserves**
The trustees consider no reserves are needed as the donations are for the full benefit of the charity and the trust does not incur any administration costs.
## **Structure, governance and management**
The charity is a registered Charitable Incorporated Organisation and was registered with the Charity Commission on 14 August 2015. The charity’s governing document is the CIO Foundation Constitution.
The charity has policies in place for Risk management, Investments, Safeguarding vulnerable beneficiaries, Conflicts of interest, Volunteer management, Complaints handling and paying staff.
## **Method of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Induction and training of new trustees**
The trust is currently preparing a new pack of key governance documents and policies. In future, new trustees will receive this pack during induction, supported through briefings with existing trustees. Trustees will be required to familiarise themselves with safeguarding and governance responsibilities as part of their onboarding.
## **Key management personnel**
Trustees are key management personnel, and they do not receive salary or expenses through the trust. The trust does not employ any staff.
## **Public Benefit**
During the year, the charity has carried out activities that directly further its charitable purposes for the public benefit.
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## **Reference and administrative details**
|**Charity number:**|1163134|
|---|---|
|**Principal office:**|Trust Administrator|
||c/o Blackwood Engineering Limited|
||Glandwr Industrial Estate|
||Aberbeeg|
||Abertillery|
||Gwent|
||NP13 2LN|
|**Trustees**|Mr Dominic Connor|
||Dr Peter Lloyd|
||Miss Rebecca Crowle|
||Mrs Rebecca Wakins|
||Miss Katleen Lakatos|
||Mrs Lucy Carey|
||Mrs Sarah Telling|
|**Key Management Personnel**|Mr Dominic Connor|
||Dr Peter Lloyd|
||Miss Rebecca Crowle|
||Mrs Lucy Carey|
||Miss Katleen Lakatos|
||Miss Lucy Champion|
||Miss Courtnay Meredith|
||Mrs Sarah Telling|
|**Independent Examiner:**|MHA|
||Chartered Accountants|
||MHA House|
||Charter Court|
||Swansea Enterprise Park|
||Swansea|
||SA7 9FS|
|**Bankers:**|HSBC|
||South Wales Corporate Centre|
||Axis Court|
||Mallard Way|
||Llansamlet|
||Swansea|
||SA7 0AJ|
The Trustees report was approved by the Board of Trustees.
…………………………….
**Rebecca Waktins Trustee**
February 16, 2026 Dated …………………….
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## **The Blackwood Engineering Trust STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 30[th] April 2025**
## **Statement of Trustees’ Responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with 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 assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
……………………………
## **Rebecca Watkins Trustee**
February 16, 2026 Dated …………………….
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## **The Blackwood Engineering Trust INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 30[TH] APRIL 2025**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2025.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
> Signed: Dated: 17/02/2026
## **Rachel Doyle ACA DChA**
MHA Chartered Accountants MHA House Swansea Enterprise Park Swansea SA7 9FS
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
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## **The Blackwood Engineering Trust STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30[th] April 2025**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and endowments from:**
Donations and legacies
**1,500**
**_Total income and endowments_**
3
**1,500**
**Expenditure on:**
Charitable activities
4
**-**
Other (Bank Charges)
4
**-**
Support costs
5
**1,500**
**_Total expenditure_**
**1,500**
**-**
**_Total funds carried forward_**
**-**|**Restricted**
**funds**
**£**
**72,000**
**72,000**
**77,748**
**213**
**-**
**77,961**
**(5,961)**|**Total**
**funds**
**2025**
**£**
**73,500**
**73,500**
**77,748**
**213**
**1,500**
**79,461**
**(5,961)**|Total
funds
2024
£
74,000|
|---|---|---|---|
||||74,000|
||||95,879
209
-|
||||96,088|
||||(22,088)|
The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources expended derive from continuing activities
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Docusign Envelope ID: 59A05087-C873-4A99-A5F2-BD163A23CD84
|**The Blackwood Engineering Trust**
**BALANCE SHEET**
**AS AT 30th April 2025**
**2025**
2024
**Note**
**£**
**£**
£
**Current assets:**
Cash at bank and in hand
**30,400**
32,361
**Current liabilities:**
Creditors: Amounts falling due within
one year
8
**(4,000)**
-
**Net current assets or liabilities**
**26,400**
**Net assets or liabilities including**
**pension asset or liability**
**26,400**
**The funds of the charity:**
Restricted income funds
10
**26,400**
32,361
**Total charity funds**
**26,400**|
£
32,361|
|---|---|
||32,361|
|||
||32,361|
February 16, 2026 The accounts were approved by the Trustees on ………….…...
## …………………………………………
**Rebecca Watkins Trustee**
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## **The Blackwood Engineering Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[th] April 2025**
## **1. ACCOUNTING POLICIES**
## **1.1 Accounting Convention**
The financial statements have been prepared in accordance with the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practices applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2**
## **Going Concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing for the financial statements.
## **1.3**
## **Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes of the financial statements.
## **1.4**
## **Incoming Resources**
Income is included in the Statement of Financial Activities (SoFA) when:
- The charity has entitlement to funds;
- Any performance conditions attached to item(s) of income have been met or are fully within the control of the charity or its subsidiary.
- There is sufficient certainty that receipt of the income is considered probable; and
- The amount can be measured reliably.
## **Donations**
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the fund, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
## **1.5**
## **Resources expended**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation cab be measured reliably. Expenditure is classified under the following activity headlines.
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## **Grants payable without performance conditions**
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.
## **Offsetting**
There has been no offsetting assets and liabilities, or income and expenses, unless required or permitted by The FRS 102 SORP or FRS 102.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction prices unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when they charity’s contractual obligations expire or are discharged or cancelled.
## **1.7 Taxation**
As a registered charity, The Blackwood Engineering Trust is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only.
## **2 Critical accounting estimates and adjustments**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimate and assumptions about carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|Donations
Donations|**Unrestricted**
**Funds**
**2025**
**£**
**1,500**
**1,500**|**Restricted**
**Funds**
**2025**
**£**
**72,000**
**72,000**
£
74,000
Restricted
Funds
2024|**Restricted**
**Funds**
**2025**
**£**
**72,000**
**72,000**
£
74,000
Restricted
Funds
2024|**Total**
**Funds**
**2025**
**£**
**73,500**
**73,500**|
|---|---|---|---|---|
||||£
74,000
Restricted
Funds
2024|Total
Funds
2024
£
74,000|
||||74,000|74,000|
|Restricted|Total|
|---|---|
|Funds|Funds|
|2024|2024|
|£|£|
|74,000|74,000|
|74,000|74,000|
## **4 Charitable Activities**
## **List donations below:**
|**Name of Charity**|**Country**|**2025**|2024|
|---|---|---|---|
|21 Plus|UK|13,000
|12,500|
|Abertillery Belles|UK|-|1,050|
|Abertillery Bluebirds|UK|750|-|
|Abertillery Excelsiors|UK|2,000|-|
|Adoption UK|UK|-
|1,000|
|Barnardos|UK|4,000|8,000|
|BH Events|UK|1,000|-|
|Blaenavon U15 Team|UK|-
|500|
|Cancer Support|UK|1,000|-|
|CCLG|UK|1,000|-|
|MND (Matthew Jones)|UK|-
|1,000|
|Childrens Brain Hospital|UK|-|1,000|
|Childrens Hospital Pyjamas|UK|-
|1,000|
|Chillax|UK|3,000|3,750|
|Contribution for school visit to Techniquest|UK|-
|1,897|
|Ebenezer|UK|3,500|4,000|
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|Ffrindiau Ysgol|UK|500|-|
|---|---|---|---|
|Freya Foundation|UK|1,000|1,000|
|Friends of the North|UK|3,250
|4,000|
|GFS in Eng Wal|UK|1,000|-|
|Hannah's Hope|UK|1,000|-|
|Happy Days|UK|500|1,000|
|Health Help International|India|16,000
|16,000|
|Hope GB|UK|1,000|2,000|
|Hope House|UK|-
|1,740|
|Hospice of the Valleys|UK|1,000|-|
|Josh Withers (Cerebral Palsy Cymru)|UK|-
|100|
|KLA Sponsorship|UK|2,000|2,000|
|Local Museum|UK|-
|500|
|Nantyglo U10's|UK|500|-|
|Orphanage Homeless Children|ROW|1,000
|1,000|
|Ospreys Wheelchair|UK|500|-|
|Pentwynmawr|UK|500
|700|
|Prader-Willi Research - Transfer for donation made on cc|UK|-
|100|
|REACT|UK|1,000
|2,000|
|Read for Good|UK|1,000|1,000|
|Reeva's Journey (paid BW Eng CC - Reimbursed)|UK|500|-|
|Ava Mae (local girl who has been diagnosed with cancer)|UK|-
|250|
|Roald Dahl CC|UK|-
|2,000|
|Ronald McDonald House Charities|UK|500|-|
|Scale the Stadium|UK|498|-|
|ALC – Selection Boxes (Xmas)|UK|2,000|-|
|Sparkle|UK|6,000
|4,500|
|St Vicentius|Belgium|-
|514|
|Teenage Cancer Trust|UK|-
|1,000|
|The Equine Therapy|UK|-|2,000|
|The Good Witches|Belgium|-
|2,568|
|The Honeypot Children|UK|1,000|1,800|
|The Panathlon|Belgium|1,000|-|
|TK Food Bank|UK|3,750|4,000|
|United Response|UK|-
|2,000|
|Wallace & Gromit|UK|500|1,000|
|Whizz Kids|UK|-
|3,000|
|Wyndham Vowles|UK|-
|964|
|Y Bont Bridgend|UK|1,000|-|
|Ysgol Cymraeg - Xmas Selection Boxes|UK|-
|500|
|ZorggroepArum|Belgium|-
|945|
|Grand Total||77,748
|95,878|
The charity incurred bank fees of £213 (2024: £209).
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## **5 Support costs**
|Independent Examiners’ remuneration|**2025**
**£**
**1,500**
**1,500**|2024
£
-
-|
|---|---|---|
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. The trustees did not claim expenses.
## **7 Employees**
The average monthly number of employees during the year was:
|Total|**2025**
**£**
**-**
**-**|2024
£
-
-|
|---|---|---|
The key management personnel of the charity are the trustees.
There were no employees whose annual remuneration was more than £60,000.
## **8 Creditors: Amounts falling due within one year**
|Accruals|**2025**
**£**
**4,000**
**4,000**|2024
£
-
-|
|---|---|---|
## **9 Taxation**
The charity is exempt from tax on income and gains falling within the section 505 of the Taxes Act 1988 or section 252 of the Taxation Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **10 Statement of funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.
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|**Restricted funds**
Blackwood Engineering
Blackwood Engineering|**At**
**1 May**
**2024**
**£**
**32,361**
**32,361**
**At**
**1 May**
**2023**
**£**
54,448
54,448||**Income**
**Expenditure**
**£**
**£**
**73,500**
**(79,461)**
**73,500**
**(79,461)**
**Income**
**Expenditure**
**£**
**£**
74,000
(96,087)
74,000
(96,087)||**Transfers**
**£**
**-**
**-**
**Transfers**
**£**
-
-||**At**
**31 April**
**2025**
**£**
**26,400**
**26,400**
**At**
**31 April**
**2024**
**£**
32,361
32,361|
|---|---|---|---|---|---|---|---|
Blackwood Engineering fund is to provide donations to various charities who help sick, disabled and disadvantaged orphan children in UK, Belgium, China and India.
## **11 Analysis of net assets between funds**
|Fund balances at 30 April 2025 are represented by:
Current assets/(liabilities)|**Restricted**
**Funds**
**2025**
**£**
**26,400**
**26,400**|Restricted
Funds
2024
£
32,361
32,361|
|---|---|---|
## **12 Related party transactions**
The only transactions are the donations from Blackwood Engineering Limited to the Trust who are linked through common directors.
13